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Employees: 1,030
Size PubMatic (PUBM) is a United States Information Technology company (Internet Software/Services) with a market value of $811M, the 2385th largest of 3,117 United States companies the cockpit tracks. Shares closed at $17.81 on 6 Nov 2026.
Performance Over six months the shares gained 82.1%, against -7.5% for the median peer and -1.1% for the United States market (cap-weighted) — highest of 21 in its peer set.
Growth Revenue fell 1.0% over the last twelve months (peer median +11.8%); the operating margin is -4.7% (peer median 7.5%).
Valuation It trades at 360.6× forward earnings against a peer median of 14.3× (most expensive of 16).
Price implies For today's price to make sense, revenue must grow about 8% a year for seven years (Req g). Recent delivered growth is +14%, so the hurdle is -6 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 20.0 points below its cost of capital (12.4% WACC).
Short interest Short interest is 8.2% of the free float (15 Oct 2026).
Next results Next results expected around 9 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $289M | $283M | $291M | $267M | $256M |
| Revenue growth | — | -3% | +9% | +4% | — |
| Gross profit | $186M | $180M | $190M | $168M | $175M |
| EBITDA | $26.7M | $26.5M | $49.3M | $46.8M | $80.6M |
| Net income | -$13.5M | -$14.5M | $12.5M | $8.88M | $28.7M |
| Free cash flow | $54.0M | $46.2M | $34.9M | $52.8M | $38.3M |
| Capital expenditure | $34.0M | $34.9M | $38.5M | $28.3M | $48.9M |
| Total debt | $40.9M | $44.2M | $45.9M | $22.5M | $27.3M |
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.
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 | PUBM | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -4.7% | -2.2% | 11th highest of 21 |
| 6-month return | +82.1% | -7.5% | highest of 21 |
| Distance from 52-week high | -8.6% | -41.2% | 4th highest of 21 |
| Revenue growth (TTM) | -1.0% | +11.8% | 3rd lowest of 20 |
| Operating margin | -4.7% | 7.5% | 4th lowest of 20 |
| Forward P/E | 360.6× | 14.3× | most expensive of 16 |
| Growth the price implies (Req g, 7 yrs) | 7.8% | 6.1% | 7th most demanding of 14 |
| Growth delivered (Del g) | +13.7% | +15.9% | 6th lowest of 14 |
| Hurdle (Req g minus delivered) | -5.9 pp | -14.2 pp | 6th most demanding of 14 |
| ROIC minus cost of capital | -20.0 pp | -2.5 pp | 3rd lowest of 16 |
| EV / EBITDA | 26.8× | 8.9× | 4th most expensive of 14 |
| Net debt / EBITDA | -3.6× | -0.7× | 5th least indebted of 16 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| PubMatic PUBM | United States | $811M | +82% | -1% | -5% | 360.6× | 7.8% | +13.7% |
| FuboTV FUBO | United States | $830M | -26% | n/a | n/a | n/a | n/a | n/a |
| Auction Technology ATG.L | United Kingdom | $789M | +36% | +22% | 11% | 16.1× | 22.7% | +32.6% |
| Le Travenues Technology IXIGO.NS | India | $775M | -2% | +16% | 6% | 47.3× | 38.2% | +55.4% |
| Yalla Group Ltd. Sponsored ADR YALA | United States | $863M | -21% | -4% | 31% | 7.0× | n/a | n/a |
| Nextdoor NXDR | United States | $758M | -3% | +10% | -17% | 350.1× | 24.0% | +15.9% |
| Gushengtang 2273.HK | Hong Kong | $874M | +1% | +12% | 13% | 13.4× | 2.4% | +27.6% |
| iQIYI, Inc. Sponsored ADR IQ | United States | $886M | -20% | -3% | -2% | n/a | n/a | n/a |
| TeamViewer TMV.DE | Germany | $894M | -5% | +2% | 34% | 5.2× | -11.0% | +10.4% |
| LegalZoom.com LZ | United States | $897M | -19% | +12% | 4% | 6.7× | 6.1% | +9.9% |
| Phoenix Education Partners PXED | United States | $718M | -36% | +1% | 17% | 5.0× | n/a | n/a |
| Cars.com CARS | United States | $715M | +14% | +1% | 11% | 6.2× | 5.7% | +5.7% |
| Omada Health OMDA | United States | $924M | +2% | +48% | 0% | 37.1× | 28.7% | +42.9% |
| BuySell Technologies 7685.T | Japan | $938M | -28% | +58% | 11% | 15.0× | -1.2% | +46.8% |
| Sify Technologies Limited Sponsored ADR SIFY | United States | $941M | -20% | +11% | 8% | n/a | n/a | n/a |
| Jumia Technologies AG Sponsored ADR JMIA | United States | $676M | -29% | +27% | -27% | n/a | n/a | n/a |
| D-MARKET Elektronik Hizmetler ve Ticaret AS Sponsored ADR HEPS | United States | $979M | -3% | +22% | -3% | n/a | n/a | n/a |
| SiteMinder SDR.AX | Australia | $666M | +14% | +19% | -2% | 94.9× | 21.9% | +21.4% |
| Digital Garage 4819.T | Japan | $654M | -10% | +4% | -6% | 61.2× | 30.0% | +7.1% |
| EverQuote EVER | United States | $1.02B | +41% | +24% | 11% | 14.3× | -7.0% | +14.8% |
| Yelp YELP | United States | $1.06B | -28% | +2% | 13% | 8.1× | -18.4% | +10.9% |