PTC
PTC Inc.
PTC's fundamentals are strong: its operating margin rose 8 points to 38% and revenue grew 19%. Its PE of 19x looks cheaper than it really is, because one-off gains boosted its recent earnings. Analysts expect strong earnings growth.
PTC Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| Strong | |
| Healthy |
PTC's profitability, cash flow and balance sheet are currently healthy, and its revenue is stable.
PTC PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Current | 19x | $196 | — |
| Forward | 22x | $196 | — |
| Cheap | 26x | $269 | +37% |
| Fair | 52x | $532 | +171% |
| Expensive | 91x | $941 | +379% |
Historical ranges are pointers, not guarantees.
PTC's PE is in its cheap range at 19x, but its recent earnings include one-off gains. On analysts' estimates for next year's earnings, today's price would be 22x.
PTC Forward outlook
| Metric | Outlook |
|---|---|
| Deteriorating | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for PTC, with profitability improving.
PTC Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $8.98 | -13% |
| Q2 2026 | $10.28 | +142% |
| Q1 2026 | $10.42 | +185% |
| Q4 2025 | $6.79 | +109% |
| Q3 2025 | $6.08 | +95% |
| Q2 2025 | $4.25 | +73% |
| Q1 2025 | $3.65 | +52% |
| Q4 2024 | $3.25 | +64% |
| Q3 2024 | $3.12 | +51% |
PTC's earnings per share have climbed steadily: $10.28 over the past year, up 142% from the year before, and higher year over year for eight quarters in a row. Its recent earnings include one-off gains.
PTC Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $600M | -6.8% |
| Q1 2026 | $774.3M | +22% |
| Q4 2025 | $685.8M | +21% |
| Q3 2025 | $893.8M | +43% |
| Q2 2025 | $643.9M | +24% |
| Q1 2025 | $636.4M | +5.5% |
| Q4 2024 | $565.1M | +2.7% |
| Q3 2024 | $626.5M | +15% |
PTC's revenue is growing: $600M last quarter, down 6.8% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 28% | -4.8 points |
| Q1 2026 | 38% | +3.1 points |
| Q4 2025 | 32% | +12 points |
| Q3 2025 | 49% | +18 points |
| Q2 2025 | 33% | +14 points |
| Q1 2025 | 35% | +5.3 points |
| Q4 2024 | 20% | -1.1 points |
| Q3 2024 | 31% | +8.8 points |
PTC's operating margin was 28% last quarter, down 4.8 points from the same quarter a year ago.
PTC Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $249.3M | +3% |
| Q1 2026 | $318.2M | +14% |
| Q4 2025 | $267.4M | +13% |
| Q3 2025 | $100.5M | +7.4% |
| Q2 2025 | $242M | +14% |
| Q1 2025 | $278.5M | +13% |
| Q4 2024 | $235.7M | +29% |
| Q3 2024 | $93.6M | +113% |
PTC's free cash flow has been positive every quarter for six years: $935M over the past year, up 10% from the year before.
PTC Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -3% | -3.6M shares |
| 1 year | -4.6% | -5.5M shares |
| 3 years | -3.7% | -4.4M shares |
| 5 years | -3.1% | -3.6M shares |
| Available history | -2.3% | -2.7M shares |
PTC has 115M diluted shares, down 4.6% from a year ago, with $1.4B in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q2 2026 | $500M |
| Q1 2026 | $626.1M |
| Q4 2025 | $200M |
| Q3 2025 | $75M |
| Q2 2025 | $75M |
| Q1 2025 | $75M |
| Q4 2024 | $75M |
| Q3 2023 | — |
PTC spent $1.4B buying back its own shares over the past year.
PTC Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | 0.9x | Very low |
| Q1 2026 | 0.6x | Very low |
| Q4 2025 | 0.8x | Very low |
| Q3 2025 | 0.9x | Very low |
| Q2 2025 | 1.2x | Healthy |
| Q1 2025 | 1.5x | Healthy |
| Q4 2024 | 1.2x | Healthy |
| Q3 2024 | 1.4x | Healthy |
PTC's net debt is less than a year of its operating earnings (EBITDA), down from 1.2 years a year ago.
PTC Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 69.8 | Neutral |
| Stochastic | 99.0 | Overbought |
PTC's weekly RSI is 70 (neutral) and its Stochastic is 99 (overbought).
PTC PE vs Technology Sector
| Metric | PTC | Sector median | Relative |
|---|---|---|---|
| PE | 19x | 28x | 31% below |
| PE % | 8 | 35 | 27 pts below |
PTC is trading at 19x earnings, a 31% discount to the Technology sector's median of 28x, though its recent earnings include one-off gains.
PTC Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $181.3 | 8.3% above |
| 20 week MA | $154.8 | 27% above |
| 50 week MA | $152.1 | 29% above |
| 100 week MA | $166.7 | 18% above |
| 200 week MA | $163.6 | 20% above |
PTC is in an uptrend: it's above all five of its weekly moving averages, and 20% above its 200-week average.
PTC Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $75.8 | $119.9 | +58% |
| 2021 | $119.9 | $120.5 | +0.6% |
| 2022 | $120.5 | $121.3 | +0.6% |
| 2023 | $121.3 | $175.0 | +44% |
| 2024 | $175.0 | $184.5 | +5.5% |
| 2025 | $184.5 | $176.6 | -4.3% |
| 2026 YTD | $176.6 | $196.3 | +11% |
PTC has finished higher in five of the last six years. It's up 11% so far in 2026.