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Provides yield-improvement analytics software and characterization IP used by semiconductor manufacturers to boost chip yields.
Provides yield-improvement analytics software and characterization IP used by semiconductor manufacturers to boost chip yields.
Sells its Exensio analytics platform as licences and subscriptions, and is also paid for engineering projects inside a customer's fab, sometimes with gainshare, a payout tied to the yield gains the work achieves. A few chipmakers account for much of its revenue, so one customer's capacity plans can move results.
Moat: narrow (IP / patents, switching costs, process know-how). Deeply embedded in fab yield-ramp workflows and protected by patented characterization methods.
Headquarters: Santa Clara, California, United States · Founded: 1991 · Employees: 600
Size PDF Solutions (PDFS) is a United States Information Technology company (Information Technology Services) with a market value of $1.59B, the 1951st largest of 3,117 United States companies the cockpit tracks. Shares closed at $37.61 on 6 Nov 2026.
Performance Over six months the shares fell 27.1%, against -14.5% for the median peer and -1.1% for the United States market (cap-weighted) — 5th lowest of 21 in its peer set.
Growth Revenue grew 23.1% over the last twelve months (peer median +4.9%); the operating margin is 8.2% (peer median 5.6%).
Valuation It trades at 26.0× forward earnings against a peer median of 37.1× (5th cheapest of 14).
Capital Return on invested capital runs 8.5 points below its cost of capital (13.2% WACC).
Backlog Backlog (remaining performance obligations) was $247M at 30 Sep 2026, down 15% on a year earlier — 1.0 years of trailing revenue. Backlog detail →
Short interest Short interest is 7.8% of the free float (15 Oct 2026).
Next results Next results expected around 18 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $241M | $219M | $179M | $166M | $149M |
| Revenue growth | — | +22% | +8% | +12% | — |
| Gross profit | $168M | $155M | $124M | $113M | $99.4M |
| EBITDA | $34.2M | $17.2M | $7.79M | $8.39M | $6.82M |
| Net income | $10.3M | -$640,000 | $4.06M | $3.10M | -$3.43M |
| Free cash flow | -$2.14M | -$8.79M | -$8.08M | $3.27M | $23.9M |
| Capital expenditure | $40.7M | $32.8M | $17.8M | $11.5M | $8.58M |
| Total debt | $71.6M | $72.8M | $5.18M | $6.19M | $7.34M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| PDF Solutions PDFS | $1.59B | -27% | +23% | 8% | 26.0× | n/a |
| KLA KLAC | $180B | -26% | +16% | 43% | 22.3× | 23.5% |
| Synopsys SNPS | $86.3B | -13% | +46% | 12% | 25.6× | 39.2% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | PDFS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -27.9% | -1.0% | lowest of 21 |
| 6-month return | -27.1% | -14.5% | 5th lowest of 21 |
| Distance from 52-week high | -47.5% | -35.7% | 8th lowest of 21 |
| Revenue growth (TTM) | +23.1% | +4.9% | 4th highest of 21 |
| Operating margin | 8.2% | 5.6% | 7th highest of 21 |
| Forward P/E | 26.0× | 37.1× | 5th cheapest of 14 |
| ROIC minus cost of capital | -8.5 pp | -4.5 pp | 8th lowest of 20 |
| EV / EBITDA | 45.2× | 19.4× | 2nd most expensive of 8 |
| Net debt / EBITDA | -1.3× | 0.2× | 3rd least indebted of 8 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| PDF Solutions PDFS | United States | $1.59B | -27% | +23% | 8% | 26.0× | n/a | n/a |
| CETC Digital Technology 600850.SS | China | $1.62B | -18% | -1% | 2% | 17.3× | 19.1% | +5.8% |
| Zen Technologies ZENTEC.NS | India | $1.64B | +6% | +4% | 31% | 45.7× | 53.0% | +66.0% |
| Data#3 DTL.AX | Australia | $1.54B | +81% | +6% | 8% | 31.6× | 26.9% | -14.2% |
| Shenzhen YSSTech Information Technology 300377.SZ | China | $1.53B | -24% | +14% | -3% | n/a | n/a | n/a |
| Black Box BBOX.NS | India | $1.53B | +10% | +12% | 7% | 47.3× | n/a | n/a |
| Mega Fortune MGRT | United States | $1.65B | -14% | -8% | -37% | n/a | n/a | n/a |
| Shenzhen Forms Syntron Information 300468.SZ | China | $1.52B | -33% | +9% | 9% | n/a | n/a | n/a |
| secunet Security Networks YSN.DE | Germany | $1.66B | +20% | +13% | 11% | 37.3× | n/a | n/a |
| Simplex Holdings,Inc 4373.T | Japan | $1.66B | +25% | +20% | 23% | 19.4× | 12.4% | +16.3% |
| Cetc Potevio Science & Technology 002544.SZ | China | $1.52B | -41% | 0% | 0% | 375.0× | n/a | n/a |
| Guangzhou Sie Consulting 300687.SZ | China | $1.52B | 0% | +3% | -3% | 79.8× | n/a | n/a |
| Neusoft 600718.SS | China | $1.51B | -3% | -5% | -5% | 37.1× | -6.1% | +9.7% |
| Northking Information Technology 002987.SZ | China | $1.67B | -14% | +1% | 6% | 30.6× | 16.2% | +16.1% |
| Voyager Technologies VOYG | United States | $1.49B | -19% | +42% | -82% | n/a | n/a | n/a |
| Omnicell OMCL | United States | $1.70B | -15% | +6% | 5% | 19.5× | 11.7% | +5.8% |
| Shift 3697.T | Japan | $1.71B | +61% | +24% | 11% | 19.2× | -2.2% | +28.6% |
| Transportation Telecommunication and Information Development Inc. Ltd. Zhejiang 300469.SZ | China | $1.72B | -18% | -15% | -102% | n/a | n/a | n/a |
| Jiangsu Eazytec 688258.SS | China | $1.46B | -33% | 0% | 28% | 47.5× | 40.1% | +11.1% |
| Formula Systems (1985) Ltd. Sponsored ADR FORTY | United States | $1.75B | -26% | +1% | 8% | n/a | -3.4% | +6.3% |
| Quantum Computing QUBT | United States | $1.43B | -34% | +3,635% | -775% | n/a | n/a | n/a |
PDF Solutions reported $247M of remaining performance obligations at 30 Sep 2026, down 15% from a year earlier and down 9% from the previous quarter. That is 1.0 years of trailing revenue already under contract. Book-to-bill last quarter: 0.66.