PTC

MKT CAP:$16B

PTC Inc.

Market Cap

$16B

Technology·Software - Application·🇺🇸 United States·NASDAQ

Technology·Software App·🇺🇸·NASDAQ

Stock Price

$135.77-$34.33 (-20.18%)

Apr 23, 2026

Company Details

PTC Inc. operates as software and services company in the Americas, Europe, and the Asia Pacific. The company operates in two segments, Software Products and Professional Services. It offers ThingWorx platform, which offers a set of capabil...

CEO

Neil Barua

IPO Date

Dec 8, 1989

Website

www.ptc.com

Key Metrics TTM

Revenue

$2.9B

+23.6% YoY

Net Income

$818M

EPS (Diluted)

$6.85

Free Cash Flow

$888M

Revenue / Share

$23.83

Gross Margin

84.2%

Operating Margin

38.0%

Net Margin

28.6%

FCF Margin

31.1%

P/S

5.7x

P/E

20.0x

Earnings Reports

Q2 2026

Apr 29, 2026

PENDING

Q1 2026

Feb 5, 2026

$686M+21.4%EPS $1.39

FY 2025

Nov 21, 2025

$2.7B+19.2%EPS $6.08

Q4 2025

Nov 21, 2025

$894M+42.7%EPS $2.94

Q3 2025

Jul 31, 2025

$644M+24.2%EPS $1.17

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q2 22	$505M	$412M	$159M
Q3 22	$462M	$360M	$80M
Q4 22	$508M	$412M	$146M
Q1 23	$466M	$370M	$105M
Q2 23	$542M	$429M	$123M
Q3 23	$542M	$426M	$110M
Q4 23	$547M	$431M	$121M
Q1 24	$550M	$440M	$119M
Q2 24	$603M	$493M	$180M
Q3 24	$519M	$407M	$96M
Q4 24	$627M	$514M	$194M
Q1 25	$565M	$453M	$116M
Q2 25	$636M	$530M	$223M
Q3 25	$644M	$534M	$210M
Q4 25	$894M	$777M	$434M
Q1 26	$686M	$568M	$221M

Valuation

Quarter	P/S	P/E
Q2 22	8.7x	34.1x
Q3 22	8.6x	32.8x
Q4 22	8.5x	52.3x
Q1 23	8.4x	47.8x
Q2 23	8.3x	51.8x
Q3 23	7.9x	53.3x
Q4 23	7.8x	66.6x
Q1 24	7.5x	69.1x
Q2 24	7.3x	56.8x
Q3 24	7.4x	55.4x
Q4 24	7.1x	43.5x
Q1 25	7.1x	41.7x
Q2 25	7.0x	37.2x
Q3 25	6.6x	31.9x
Q4 25	6.0x	22.3x
Q1 26	5.7x	20.0x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q2 22	$142M	$136M
Q3 22	$117M	$112M
Q4 22	$38M	$28M
Q1 23	$181M	$172M
Q2 23	$211M	$207M
Q3 23	$169M	$164M
Q4 23	$50M	$43M
Q1 24	$187M	$183M
Q2 24	$251M	$247M
Q3 24	$214M	$212M
Q4 24	$98M	$90M
Q1 25	$238M	$236M
Q2 25	$281M	$279M
Q3 25	$244M	$242M
Q4 25	$104M	$100M
Q1 26	$270M	$267M

Capital Expenditures

Quarter	CapEx
Q2 22	$6M
Q3 22	$4M
Q4 22	$11M
Q1 23	$9M
Q2 23	$4M
Q3 23	$5M
Q4 23	$7M
Q1 24	$5M
Q2 24	$4M
Q3 24	$2M
Q4 24	$9M
Q1 25	$3M
Q2 25	$3M
Q3 25	$2M
Q4 25	$4M
Q1 26	$2M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 22	+9.4%	-3.9%
Q3 22	+6.2%	+5.6%
Q4 22	+5.7%	-1.0%
Q1 23	+1.8%	-8.7%
Q2 23	+7.3%	+21.3%
Q3 23	+17.3%	+13.1%
Q4 23	+7.6%	+17.6%
Q1 24	+18.1%	+19.5%
Q2 24	+11.2%	+0.9%
Q3 24	-4.4%	-2.2%
Q4 24	+14.6%	+1.7%
Q1 25	+2.7%	+4.2%
Q2 25	+5.5%	-2.5%
Q3 25	+24.2%	+2.7%
Q4 25	+42.7%	+6.4%
Q1 26	+21.4%	+3.4%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q2 22	$38M	7.5%
Q3 22	$49M	10.7%
Q4 22	$42M	8.2%
Q1 23	$42M	8.9%
Q2 23	$52M	9.6%
Q3 23	$54M	9.9%
Q4 23	$59M	10.8%
Q1 24	$59M	10.7%
Q2 24	$54M	9.0%
Q3 24	$0	0.0%
Q4 24	$62M	9.9%
Q1 25	$56M	9.9%
Q2 25	$52M	8.1%
Q3 25	$54M	8.4%
Q4 25	$55M	6.1%
Q1 26	$58M	8.4%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q2 22	$82M	$47M	$116M
Q3 22	$88M	$55M	$124M
Q4 22	$88M	$56M	$119M
Q1 23	$88M	$51M	$118M
Q2 23	$100M	$66M	$129M
Q3 23	$104M	$57M	$145M
Q4 23	$102M	$60M	$137M
Q1 24	$106M	$69M	$137M
Q2 24	$107M	$62M	$135M
Q3 24	$110M	$50M	$140M
Q4 24	$110M	$52M	$147M
Q1 25	$116M	$53M	$158M
Q2 25	$111M	$55M	$125M
Q3 25	$117M	$54M	$142M
Q4 25	$115M	$64M	$142M
Q1 26	$120M	$74M	$141M

Rule of 40

Quarter	Rev Growth %	EBITDA Margin %	Rule of 40
Q2 22	9.4%	28.9%	38.3
Q3 22	6.2%	31.4%	37.5
Q4 22	5.7%	36.0%	41.7
Q1 23	1.8%	28.4%	30.2
Q2 23	7.3%	29.3%	36.6
Q3 23	17.3%	27.4%	44.6
Q4 23	7.6%	29.2%	36.8
Q1 24	18.1%	28.3%	46.4
Q2 24	11.2%	35.2%	46.4
Q3 24	-4.4%	25.1%	20.7
Q4 24	14.6%	37.1%	51.7
Q1 25	2.7%	26.4%	29.1
Q2 25	5.5%	40.6%	46.1
Q3 25	24.2%	38.2%	62.3
Q4 25	42.7%	53.6%	96.3
Q1 26	21.4%	34.6%	55.9

Rule of 40

Revenue Segments

Quarter	License	Support And Cloud Services	Technology Service
Q2 22	$218M	$244M	$43M
Q3 22	$175M	$248M	$42M
Q4 22	$220M	$251M	$34M
Q1 23	$173M	$258M	$36M
Q2 23	$197M	$304M	$41M
Q3 23	$193M	$314M	$36M
Q4 23	$184M	$324M	$38M
Q1 24	$184M	$330M	$36M
Q2 24	$234M	$336M	$32M
Q3 24	$149M	$340M	$30M
Q4 24	$239M	$353M	$34M
Q1 25	$173M	$361M	$31M
Q2 25	$254M	$353M	$29M
Q3 25	$251M	$370M	$25M
Q4 25	$484M	$385M	$22M
Q1 26	$270M	$393M	$25M

Revenue by Geography

Quarter	Americas	Asia Pacific	Europe
Q2 22	$203M	$223M	$79M
Q3 22	$193M	$93M	$176M
Q1 23	$227M	$72M	$167M
Q2 23	$256M	$77M	$209M
Q3 23	$278M	$90M	$174M
Q4 23	$262M	$81M	$204M
Q1 24	$267M	$86M	$197M
Q2 24	$261M	$85M	$257M
Q3 24	$254M	$94M	$171M
Q4 24	$306M	$86M	$235M
Q1 25	$278M	$91M	$196M
Q2 25	$293M	$92M	$251M
Q3 25	$283M	$122M	$239M
Q4 25	$474M	$111M	$309M
Q1 26	$321M	$93M	$272M

War Chest

Quarter	Cash	Short-term Investments	Total
Q2 22	$307M	$0	$307M
Q3 22	$322M	$0	$322M
Q4 22	$272M	$0	$272M
Q1 23	$388M	$0	$388M
Q2 23	$320M	$0	$320M
Q3 23	$282M	$0	$282M
Q4 23	$288M	$0	$288M
Q1 24	$265M	$0	$265M
Q2 24	$249M	$0	$249M
Q3 24	$248M	$0	$248M
Q4 24	$266M	$0	$266M
Q1 25	$196M	$0	$196M
Q2 25	$235M	$0	$235M
Q3 25	$199M	$0	$199M
Q4 25	$184M	$0	$184M
Q1 26	$210M	$0	$210M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q2 22	118M	-0.7%	-0.4%
Q3 22	118M	+0.1%	-0.5%
Q4 22	119M	+0.6%	-0.2%
Q1 23	119M	+0.1%	+0.2%
Q2 23	119M	+0.2%	+1.0%
Q3 23	119M	+0.3%	+1.2%
Q4 23	120M	+0.6%	+1.2%
Q1 24	120M	+0.1%	+1.2%
Q2 24	121M	+0.4%	+1.4%
Q3 24	121M	+0.1%	+1.2%
Q4 24	121M	-0.1%	+0.5%
Q1 25	121M	+0.3%	+0.7%
Q2 25	121M	-0.2%	+0.1%
Q3 25	120M	-0.3%	-0.3%
Q4 25	121M	+0.2%	-0.1%
Q1 26	120M	-0.6%	-1.0%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q2 22	$75.3K	7K
Q3 22	$68.9K	7K
Q4 22	$78.1K	7K
Q1 23	$71.6K	7K
Q2 23	$83.4K	7K
Q3 23	$83.4K	7K
Q4 23	$75.6K	7K
Q1 24	$76.1K	7K
Q2 24	$83.4K	7K
Q3 24	$71.7K	7K
Q4 24	$83.5K	8K
Q1 25	$75.3K	8K
Q2 25	$84.8K	8K
Q3 25	$85.8K	8K
Q4 25	$117.0K	8K
Q1 26	$89.7K	8K

Revenue / Employee