PTC Inc. (PTC) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-30.1%

$136.57

vs $195.24 price

Levered DCF

$152.82

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

6.04

Safe zone

Rating

Overall 4 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	33.17×	57.54×	68.44×	39.18×	29.36×	73.2×	-296.43×	235.27×
P/B	6.37×	6.73×	6.26×	5.34×	6.87×	6.65×	6.68×	14.09×
P/S	8.89×	9.41×	8×	6.34×	7.74×	6.56×	6.39×	9.92×
EV / EBITDA	22.56×	31.9×	30.66×	23.59×	27.12×	31.79×	59.69×	80.55×
Gross margin	83.8%	80.6%	79.0%	80.0%	79.5%	77.1%	74.1%	73.7%
Operating margin	35.9%	25.6%	21.9%	23.1%	21.1%	14.5%	9.4%	5.9%
Net margin	26.8%	16.4%	11.7%	16.2%	26.4%	9.0%	-2.2%	4.2%
Current ratio	1.12×	0.78×	0.76×	1.35×	1.38×	1.22×	1.23×	0.86×
Debt / equity	0.36×	0.6×	0.71×	0.67×	0.81×	0.85×	0.56×	0.74×
Interest coverage	12.76×	4.91×	3.54×	8.24×	7.54×	2.76×	2.73×	1.76×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	19.2%	11.7%	9.2%	13.6%	23.4%	9.1%	-2.3%	5.9%
Return on invested capital	14.4%	9.0%	7.3%	9.0%	10.1%	7.5%	-7.9%	4.6%
Return on assets	11.1%	5.9%	3.9%	6.7%	10.6%	3.9%	-1.0%	2.2%
Free cash flow yield	3.5%	3.4%	3.5%	3.3%	2.5%	2.1%	2.8%	1.7%
Earnings yield	3.0%	1.7%	1.5%	2.6%	3.4%	1.4%	-0.3%	0.4%
Enterprise value	$25.5B	$23.3B	$18.4B	$13.5B	$15.3B	$10.5B	$8.4B	$12.7B
Net debt / EBITDA	1.05×	2.28×	2.67×	2.21×	2.34×	2.86×	2.83×	2.43×
Cash conversion cycle (days)	124	117	105	82	76	77	61	-22