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US software company making CAD (Creo) and product lifecycle management (Windchill) tools used by manufacturers to design products.
US software company making CAD (Creo) and product lifecycle management (Windchill) tools used by manufacturers to design products.
Sells multi-year subscriptions to design and product-data software, so revenue is recurring and the key measure is annual contract value rather than licence sales. It shifted from perpetual licences to subscriptions from 2016 and bought ServiceMax in 2023 to extend from design into servicing machines after sale.
Moat: wide (switching costs, installed base). Product design and lifecycle data are deeply embedded in Creo/Windchill, making replacement highly disruptive.
Headquarters: Boston, Massachusetts, US · Founded: 1985
Size PTC (PTC) is a United States Information Technology company (Packaged Software) with a market value of $21.2B, the 477th largest of 3,117 United States companies the cockpit tracks. Shares closed at $195.07 on 6 Nov 2026.
Performance Over six months the shares gained 33.0%, against +15.5% for the median peer and -1.1% for the United States market (cap-weighted) — 8th highest of 19 in its peer set.
Growth Revenue grew 19.5% over the last twelve months (peer median +18.6%); the operating margin is 39.8% (peer median 17.0%).
Valuation It trades at 21.8× forward earnings against a peer median of 25.6× (9th cheapest of 18).
Price implies For today's price to make sense, revenue must grow about 10% a year for seven years (Req g). Recent delivered growth is +9%, so the hurdle is +2 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 9.5 points above its cost of capital (9.2% WACC).
Backlog Backlog (remaining performance obligations) was $2.42B at 30 Jun 2026, up 5% on a year earlier — 0.8 years of trailing revenue. Backlog detail →
Short interest Short interest is 4.4% of the free float (15 Oct 2026).
Next results Next results expected around 3 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|---|
| Revenue | $2.95B | $2.73B | $2.74B | $2.30B | $2.10B |
| Revenue growth | — | 0% | +19% | +10% | — |
| Gross profit | $2.45B | $2.23B | $2.25B | $1.81B | $1.62B |
| EBITDA | $1.31B | $1.03B | $1.14B | $732M | $614M |
| Net income | $1.23B | $1.03B | $734M | $376M | $246M |
| Free cash flow | $934M | $873M | $856M | $736M | $574M |
| Capital expenditure | $19.8M | $25.9M | $11.0M | $18.4M | $24.6M |
| Total debt | $1.61B | $1.80B | $1.37B | $1.93B | $1.89B |
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 |
|---|---|---|---|---|---|---|
| PTC PTC | $21.2B | +33% | +20% | 40% | 21.8× | 10.3% |
| Dassault Systemes DSY.PA | $39.0B | +32% | 0% | 26% | 19.2× | 8.3% |
| Siemens SIE.DE | $225B | -4% | +4% | 13% | 23.4× | 18.3% |
| Autodesk ADSK | $54.7B | +7% | +19% | 23% | 20.1× | 18.1% |
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 | PTC | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +0.7% | +2.1% | 11th highest of 21 |
| 6-month return | +33.0% | +15.5% | 8th highest of 19 |
| Distance from 52-week high | -0.5% | -24.9% | highest of 21 |
| Revenue growth (TTM) | +19.5% | +18.6% | 11th highest of 21 |
| Operating margin | 39.8% | 17.0% | 4th highest of 21 |
| Forward P/E | 21.8× | 25.6× | 9th cheapest of 18 |
| Growth the price implies (Req g, 7 yrs) | 10.3% | 25.5% | 7th least demanding of 17 |
| Growth delivered (Del g) | +8.6% | +20.2% | 3rd lowest of 17 |
| Hurdle (Req g minus delivered) | +1.7 pp | -4.8 pp | 7th most demanding of 17 |
| ROIC minus cost of capital | +9.5 pp | +0.5 pp | 7th highest of 18 |
| EV / EBITDA | 17.4× | 18.8× | 7th cheapest of 14 |
| Net debt / EBITDA | 1.2× | -0.8× | 5th most indebted of 17 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| PTC PTC | United States | $21.2B | +33% | +20% | 40% | 21.8× | 10.3% | +8.6% |
| Toast TOST | United States | $20.1B | +38% | +22% | 7% | 20.9× | 28.6% | +49.5% |
| Cerebras Systems CBRS | United States | $20.1B | n/a | +91% | -81% | n/a | n/a | n/a |
| Unity Software U | United States | $22.7B | +83% | +14% | -14% | 49.4× | 33.5% | +19.1% |
| Hithink RoyalFlush Information Network 300033.SZ | China | $22.9B | -14% | +48% | 56% | 32.7× | 37.1% | +16.3% |
| Samsara IOT | United States | $24.0B | +38% | +30% | 1% | 48.5× | n/a | n/a |
| SS&C Technologies SSNC | United States | $18.2B | +13% | +9% | 24% | 10.2× | 6.9% | +6.1% |
| MongoDB MDB | United States | $25.2B | +4% | +25% | -1% | 44.7× | 27.9% | +33.1% |
| Gen Digital GEN | United States | $17.7B | +32% | +17% | 43% | 9.6× | 1.8% | +14.4% |
| F5, Inc. FFIV | United States | $17.7B | -12% | +11% | 24% | 17.1× | 9.7% | +5.6% |
| CoreWeave CRWV | United States | $25.6B | -59% | +115% | -3% | n/a | n/a | n/a |
| Circle Internet CRCL | United States | $17.3B | -40% | +26% | 13% | 68.1× | 23.2% | +52.7% |
| Zoom Communications ZM | United States | $26.2B | -18% | +5% | 24% | 14.7× | 5.8% | +12.9% |
| Z.AI Co., Ltd. -H- Reg S 2513.HK | Hong Kong | $26.5B | -56% | +132% | -272% | n/a | n/a | n/a |
| Amadeus IT AMS.MC | Spain | $27.4B | +18% | +4% | 27% | 17.8× | 4.3% | +24.6% |
| Beijing Kingsoft Office Software 688111.SS | China | $16.1B | -8% | +20% | 22% | 35.6× | 32.7% | +21.3% |
| Bending Spoons BSP | United States | $27.9B | n/a | +95% | 21% | 25.6× | 45.5% | +94.7% |
| Evolution EVO.ST | Sweden | $15.8B | +33% | -3% | 57% | 14.4× | -0.3% | +31.2% |
| Okta OKTA | United States | $29.5B | +101% | +11% | 8% | 41.3× | 39.2% | +28.4% |
| Manhattan Associates MANH | United States | $14.7B | +77% | +8% | 25% | 42.0× | 29.4% | +13.0% |
| DocuSign DOCU | United States | $14.5B | +62% | +9% | 12% | 15.9× | 12.9% | +17.2% |
PTC reported $2.42B of remaining performance obligations at 30 Jun 2026, up 5% from a year earlier and down 4% from the previous quarter. That is 0.8 years of trailing revenue already under contract. Book-to-bill last quarter: 0.84.