Ptc Inc. (PTC)
Information Technology · Application Software · US stock · S&P 500 component
$194.00
▼ -0.38 (0.20%)
Fair valueFair
$201 +3.5% to fair value
$100fair band $171–$243$301
Day's range
$193.95 – $194.61
52-week range
$108.50 – $206.67
About Ptc Inc.
PTC develops software used by manufacturers to design, simulate, build and service physical products. Its tools cover computer-aided design, product lifecycle management, and applications for connected factories and service operations. The company earns money mostly from software subscriptions and support contracts paid by industrial customers, with a smaller part coming from perpetual licences and professional services. Its customers include makers of machinery, vehicles, electronics, aerospace equipment and medical devices.
The company reported twelve-month revenue of $3.0 billion, which expanded at 12.3% a year across the last three years. It earned an operating margin of 37.8%, and it generated a return on invested capital of 20%. Leverage, measured as net debt to EBITDA, is 0.9 times. The company does not pay a dividend. The site's X-Ray Score is 59 out of 100.
Price chart
52-wk range $108.50 – $206.67Volume 2,554,945Daily, split-adjusted
Vitals
Market cap$22.3B
52-week range$108.50 – $206.67
Volume (last day)2,554,945
P/E (TTM)18.8
EBIT / EV yield4.8%
Free-cash-flow yield4.2%
Dividend yieldNo dividend
Revenue (TTM)$3.0B
Net income (TTM)$1.2B
Operating margin37.8%
Return on capital19.7%
Debt incl. leases$1.4B
Cash & securities$351M
Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies that hold large long-term investments). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.
Fair value estimate
$201middle half of models $191 – $233
Fair
+3.5% to fair value
Average of the 13 valuation models that pass our checks: multiples, discounted cash flow, dividend discount and earnings power value. A model more than 100% above or 60% below the price is left out as unrealistic. Model uncertainty is High, based on how far apart the models are. Undervalued or Overvalued means the gap to fair value is more than 17.5%.
Peak-cycle earnings: the current operating margin is more than 1.5x its 7-year average, so multiples applied to today's profit may overstate value; model uncertainty is set to High
Price $194
Undervalued < $171Fair $171 – $243Overvalued > $243
P/E multiple
$231
P/B multiple
$191
P/S multiple
$194
EV/EBITDA multiple
$225
EV/EBIT multiple
$266
EV/revenue multiple
$193
10-year DCF, EBITDA exit
$235
5-year DCF, EBITDA exit
$248
10-year DCF, revenue exit
$226
5-year DCF, revenue exit
$233
10-year DCF, growth exit
$133
5-year DCF, growth exit
$121
Earnings power value
$114
Growth the price implies
18.3%/yr
A model estimate, not a price target or recommendation. Inputs: risk-free 5.13%, equity risk premium 4.30% (Damodaran). How it works.
What this means
Average business, fairly priced
The price sits inside our fair-value band. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.
Before you invest · decision checklist
Ticked boxes are filled in from our data; the rest are yours to answer.
The five-lens scan
Every score explained in one sentence, ranked against Information Technology peers. Open a lens to see the numbers behind it.
Strong: 70 to 100Fair: 50 to 69Weak: under 50No score: not enough data
Valuation
Fair
67/100
Priced about in line with its sector.
See the numbers →
EBIT / EV yield4.8%
Free-cash-flow yield4.2%
Fair value vs price1.0×
Growth
Fair
63/100
Growing at a typical pace for its sector.
See the numbers →
Revenue growth (3y)12.3%
EPS growth (3y)31.9%
Growth consistency80%
Profitability
Weak
48/100
Earns lower returns on its capital than most peers.
See the numbers →
Return on invested capital19.7%
Operating margin37.8%
Gross profitability38.3%
Financial health
Fair
59/100
Balance sheet is in typical shape for its sector.
See the numbers →
Piotroski F-Score8 / 9
Net debt / EBITDA0.9×
Interest cover17.1×
Dividends
None
–/100
Pays no dividend.
See the numbers →
Quarterly results: last 6 quarters
+5.5%
Mar '25
+24.2%
Jun '25
+42.7%
Sep '25
+21.4%
Dec '25
+21.7%
Mar '26
-6.8%
Jun '26
Revenue against the same quarter a year earlier. Latest quarter revenue $600M, diluted EPS $1.03.
Compare with peers
ADBE Adobe Inc.77 INTU Intuit Inc.71 FICO Fair Isaac Corp71 ADSK Autodesk, Inc.67Other Application Software companies by X-Ray Score.
SWOT analysis: Ptc Inc.
Strengthsinside the company
- Return on invested capital is 19.7%, against a median of 21.0% for industry peers.
- Operating margin of 37.8% is well above the 26.2% median of industry peers, a sign of pricing power or lower costs.
- Revenue has grown 12.3% a year over three years (median 12.9% for industry peers).
- Earnings per share have compounded at 31.9% a year over three years.
Weaknessesinside the company
- No clear weakness in the figures we track.
Opportunitiesvaluation and setting
- Revenue growth picked up to 19.2% last year from 12.3% a year over three years.
- Trades at 18.2x earnings, 51% below the 37.1x median of industry peers.
- Our Market Compass rates the backdrop for Information Technology as favourable.
- Price momentum is strong on the weekly and monthly signals (trends can reverse).
Threatsvaluation and setting
- Valuation uncertainty is high: the models give widely different values, so the fair value range is wide.
Written by fixed rules from the figures on this page and the peer table below: filings, our fair value, the sector climate and the price trend. It summarises the data, it is not a forecast or advice.
Compare PTC with peers and sector
Medians of 13 Application Software peers and of 74 Information Technology stocks in our universe.
Largest peers (X-Ray Score): PLTR 63, ORCL 56, CRM 52, ADBE 77, INTU 71, DDOG 50.
| Metric | PTC | Peers | Sector |
|---|---|---|---|
| X-Ray Score (out of 100) | 59 | 57 | 50 |
| Valuation | 67 | 60 | 50 |
| Growth | 63 | 65 | 54 |
| Profitability | 48 | 62 | 50 |
| Financial health | 59 | 47 | 49 |
| Dividends | – | 72 | 50 |
Sector leaders: highest X-Ray Score in Information Technology
PTC ranks #18 of 75 in Information Technology and #6 of 14 in Application Software by X-Ray Score. A higher score is stronger on our five pillars; it is a ranking of facts, not a forecast.
Green means better than the peer median, red worse (only where a higher or lower figure is clearly better). A dash means too few companies report the figure. P/E, EV/EBITDA and price changes are not graded: a different level is not good or bad by itself.
Factor ratings for PTC
Each factor is rated by where PTC stands among the 75 Information Technology stocks in our universe.
Rating against the sector
Goodthe top third of these stocks
Averagethe middle third of these stocks
Badthe bottom third of these stocks
"Beats" is the share of those stocks it is ahead of.
Against its own history
The last columns set today's figure against the company's own median of its last five financial years:
▲ Betterbetter than its usual level
▼ Worseworse than its usual level
≈ In linewithin its usual range
For valuation factors Good means cheaper than most of the sector and Better means cheaper than usual for this company, which is not the same as a bargain.
In total: 10 Good · 8 Average · 4 Bad of 22
Growth: 2 · 1 · 0
Profitability: 4 · 1 · 0
Financial strength: 1 · 2 · 1
Valuation: 1 · 4 · 0
Cash flow: 2 · 0 · 2
Efficiency: 0 · 0 · 1
| Factor | PTC | Rating | Sector median | Own 5-year median | Against own history |
|---|---|---|---|---|---|
| Growth | |||||
| Revenue growth, 3 years a year | +12.3% | Average beats 63% | +9.7% | – | – |
| Revenue growth, last year | +19.2% | Good beats 70% | +13.7% | +9.6% | ▲ Better |
| EPS growth, 3 years a year | +31.9% | Good beats 85% | +5.9% | – | – |
| Profitability | |||||
| Gross margin | 84.5% | Good beats 92% | 57.8% | 80.0% | ≈ In line |
| Operating margin | 37.8% | Good beats 85% | 20.3% | 23.1% | ▲ Better |
| Net margin | 41.4% | Good beats 90% | 17.8% | 16.4% | ▲ Better |
| Return on invested capital | 19.7% | Average beats 52% | 19.4% | – | – |
| Return on equity | 35.3% | Good beats 72% | 21.0% | 13.6% | ▲ Better |
| Financial strength | |||||
| Net debt / EBITDA | 0.9x | Average beats 48% | 0.8x | 2.1x | ▲ Better |
| Interest cover | 17.1x | Average beats 47% | 23.0x | 7.5x | ▲ Better |
| Current ratio | 1.03 | Bad beats 26% | 1.57 | 1.12 | ≈ In line |
| Piotroski F-score | 8 / 9 | Good beats 89% | 6 / 9 | – | – |
| Valuation | |||||
| P/E ratio | 18.2x | Good beats 84% | 33.6x | 39.5x | ▲ Better |
| Price / book | 6.4x | Average beats 59% | 8.3x | 6.4x | ≈ In line |
| Price / sales | 7.6x | Average beats 46% | 6.9x | 8.1x | ≈ In line |
| EV / EBITDA | 19.2x | Average beats 66% | 24.7x | 32.5x | ▲ Better |
| Free cash flow yield | 4.2% | Average beats 63% | 3.4% | 3.4% | ≈ In line |
| Cash flow | |||||
| Free cash flow margin | 31.7% | Good beats 77% | 22.3% | 28.0% | ▲ Better |
| Cash from operations / net income | 0.78 | Bad beats 6% | 1.39 | 1.39 | ▼ Worse |
| Free cash flow growth, 3 years a year | +27.2% | Good beats 70% | +15.4% | – | – |
| Accruals (lower is better) | +4.1% | Bad beats 6% | −4.4% | – | – |
| Efficiency | |||||
| Days sales outstanding | 102 days | Bad beats 5% | 63 days | 133 days | ▲ Better |
These ratings compare companies with each other and describe the past; they are not a forecast, a recommendation or part of the X-Ray Score. A factor is left out when its data is missing or meaningless (for example a P/E on negative earnings). A dash in the history columns means fewer than three usable years.
Fundamentals checklist
● 5 Good · ● 8 Average · ● 3 BadCash quality
Earnings backed by cashBad
Free-cash-flow yieldAverage
Risk models
Altman Z''Average
Piotroski F-ScoreGood
Growth
EPS growth (3y)Good
Free-cash-flow growth (3y)Good
Revenue growth (3y)Average
Growth consistencyBad
Balance sheet
Current ratioBad
Net debt / EBITDAAverage
Interest coverAverage
Valuation
Fair value vs priceAverage
EBIT / EV yieldGood
Profitability
Return on invested capitalAverage
Operating marginGood
Gross profitabilityAverage
Each check is graded against the company's sector, not a fixed number. Checklist score 57/100.
Financials
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Revenue | $1.8B | $1.9B | $2.1B | $2.3B | $2.7B |
| Operating income | $381M | $447M | $458M | $588M | $982M |
| Net income | $477M | $313M | $246M | $376M | $734M |
| Operating cash flow | $369M | $435M | $611M | $750M | $868M |
| Operating margin | 21.1% | 23.1% | 21.9% | 25.6% | 35.9% |
| Free cash flow | $344M | $416M | $587M | $736M | $857M |
| Diluted EPS | $4.03 | $2.65 | $2.06 | $3.12 | $6.08 |
Fiscal years, from SEC filings.
Technical summary
Daily
Strongly bullish
12 bullish · 3 neutral · 1 bearish
Weekly
Strongly bullish
11 bullish · 1 neutral · 0 bearish
Monthly
Bullish
5 bullish · 1 neutral · 2 bearish
Moving averages (daily)
| SMA 10 | 193.7 | Bullish |
| EMA 10 | 190.5 | Bullish |
| SMA 20 | 177.8 | Bullish |
| EMA 20 | 180.4 | Bullish |
| SMA 50 | 157.6 | Bullish |
| EMA 50 | 162.7 | Bullish |
| SMA 100 | 142.4 | Bullish |
| EMA 100 | 153.0 | Bullish |
| SMA 200 | 146.4 | Bullish |
| EMA 200 | 152.9 | Bullish |
Oscillators (daily)
| RSI (14) | 78.72 | Bearish |
| MACD (12, 26) | 13.09 | Bullish |
| Momentum (12) | 0.52 | Bullish |
| Stochastic %K (14) | 50.36 | Neutral |
| Williams %R (14) | -49.64 | Neutral |
| CCI (20) | 49.15 | Neutral |
Pivot points (classic, last session)
S3 193.1 | S2 193.5 | S1 193.8 | Pivot 194.2 | R1 194.4 | R2 194.8 | R3 195.1 |
Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.
ETFs that hold PTC
| ETF | Share of the fund |
|---|---|
| RSPT Invesco S&P 500 Equal Weight Technolog... | 1.39% |
| TCAF T. Rowe Price Capital Appreciation Equ... | 1.23% |
| QLTY GMO U.S. Quality | 0.64% |
| XSW SPDR S&P Software & Services | 0.61% |
| USMV iShares MSCI USA Min Vol Factor | 0.50% |
| COWG Pacer US Large Cap Cash Cows Growth Le... | 0.50% |
| IGV iShares Expanded Tech-Software Sector | 0.50% |
| VBK Vanguard Small-Cap Growth | 0.37% |
The eight funds with the largest weight in PTC among the ETFs we cover, from each fund's latest SEC Form N-PORT (quarter-end positions, so they can be months old). All ETFs.
PTC stock splits
PTC has split its stock 6 times since 1991. The latest was a 2-for-5 reverse split on 28 Feb 2006.
Full PTC stock split history →PTC SEC filings
8-KSEC EDGAR
Entered a material agreement; Regulation FD disclosure
10-QSEC EDGAR
Quarterly report
8-KSEC EDGAR
Results of operations
10-QSEC EDGAR
Quarterly report
8-KSEC EDGAR
Results of operations; Regulation FD disclosure
8-KSEC EDGAR
Regulation FD disclosure
8-KSEC EDGAR
Shareholder vote results
10-QSEC EDGAR
Quarterly report
Where the numbers come from
Statements SEC EDGAR filings (10-K, 10-Q), quarters derived from year-to-date figures.
Prices end-of-day closes, split-adjusted.
Industry inputs beta, multiples and equity risk premium from Damodaran Online (NYU Stern).
StocksXray is for education only and is not financial advice. Scores and fair values are model estimates from public filings and carry uncertainty.