PTCPTC INC.
Services-Prepackaged Software
- Revenue
- $2.7B
- 19% YoY
- Operating margin
- 35.9%
- 40% YoY
- EBITDA
- $1.1B
- 56% YoY
- Market cap
- $21.6B
- Employees
- 7,000
- $391K revenue each
- Net debt / EBITDA
- 1.0×
- $1.1B net debt
- AI in 10-K
- 3.5
- mentions per 10K words
Takeover score 2 of 13
Fixable underperformance 1 of 7
- TSR below peersNo—3+ of last 5 years
- High CEO pay despite TSRNo—Median CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo118% of net incomeCash flow under 80% of net income
- Dilutive SBCNo8% of revenueOver 10% of revenue
- Payouts exceed cash flowNo35% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyYes52% of assetsOver 40% of assets
- Shareholder dissentNo92% lowest supportAny vote under 80% support
Buyer economics 0 of 4
- Low revenue per employeeNo$391K · 40th pctBottom quartile of its SIC industry
- Quiet on AINo3.5 per 10K words · 74th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo1.0× EBITDA net debtMore cash than debt, positive EBITDA
- Buyout-sizedNo$21.6B market capMarket cap $500M–$5B
Catalysts 1 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingYes−$12M netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $1.8B | $1.9B | $2.1B | $2.3B | $2.7B | 19% |
| Operating income | $381M | $447M | $458M | $588M | $982M | 67% |
| Net income | $477M | $313M | $246M | $376M | $734M | 95% |
| Operating cash flow | $369M | $435M | $611M | $750M | $868M | 16% |
| Capex | $25M | $19M | $24M | $14M | $11M | 23% |
| Stock-based comp | $177M | $175M | $206M | $223M | $216M | 3.2% |
| Buybacks | $30M | $125M | $0 | $0 | $300M |
Deal filings
None.
13D filers
| Filed | Filer | Form | Stake | Intent |
|---|---|---|---|---|
| Aug 1, 2023 | ROCKWELL AUTOMATION, INC | SC 13D/A | 5.0% | Passive |
| Jun 20, 2023 | ROCKWELL AUTOMATION, INC | SC 13D/A | 5.1% | Passive |
| May 18, 2023 | ROCKWELL AUTOMATION, INC | SC 13D/A | 5.4% | Passive |
| Feb 14, 2023 | ROCKWELL AUTOMATION, INC | SC 13D/A | 6.5% | Passive |
| Jun 1, 2022 | ROCKWELL AUTOMATION, INC | SC 13D/A | 9.0% | Passive |
| Nov 8, 2021 | ROCKWELL AUTOMATION, INC | SC 13D/A | 9.0% | Passive |
| May 13, 2021 | ROCKWELL AUTOMATION, INC | SC 13D/A | 9.1% | Passive |
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $12M · 17
- Net
- −$12M
Pay vs performance
No pay-versus-performance disclosure yet.