PTC Inc.PTC
NasdaqGS•Technology•Software - Application
PTC Inc. operates as software company in the Americas, Europe, and the Asia Pacific. The company provides Windchill, a suite that manages all aspects of the product development lifecycle(PLM) that provides real-time information sharing, dynamic data visualization, collaborate across geographically distributed teams, and enabling manufacturers to elevate product development, manufacturing, field service, and end-of-life processes; ThingWorx, an Industrial Internet of Things software; ServiceMax, a service lifecycle management solutions enable companies to asset uptime with optimized in-person and remote service and technician productivity with mobile tools, and deliver metrics; and Arena, a SaaS PLM solution enables product teams to collaborate virtually to share product and quality information with internal teams and supply chain partners and deliver products to customers. It offers Codebeamer, an application lifecycle management for products and software development; Servigistics, a service parts management solution; and FlexPLM, a platform for merchandising and line planning, materials management, sampling, and others. In addition, it offers Kepware, an enterprise industrial connectivity solution; Kepware Edge, a Linux-based industrial communications platform; KEPServerEX, an industrial connectivity solution for small projects; Creo, a 3D CAD technology enables the digital design, testing, and modification of product models; and Onshape, a SaaS product development platform that delivers computer-aided design with data management, collaboration tools, and real-time analytics. Further, it offers Vuforia, an augmented reality (AR) software; and Arbortext, a dynamic publishing solution streamlines how organizations create, manage, and publish technical documentation. Additionally, the company provides PTC Products; PTC Mathcad; and augmented reality product. PTC Inc. was incorporated in 1985 and is headquartered in Boston, Massachusetts.
PTC Inc. (PTC) reported trailing twelve months revenue of $3.00B as of March 2026, a 27.7% increase year-over-year. Quarterly revenue reached $774.30M, reflecting continued top-line momentum.
PTC Inc. generated $1.25B in TTM net income, with quarterly EBITDA of $320.49M. The operating margin expanded from 35.1% to 38.2%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (38.2%) and net margin (76.3%) indicates tight cost control with minimal non-operating drag. Net margin has improved from 25.6% a year ago, signaling stronger bottom-line efficiency.
PTC trades at a P/E of 13.2x (below the broader market average) and a P/S of 5.5x. The price-to-book ratio of 4.3x reflects a moderate premium to book value.
The company generated $318.25M in free cash flow over the trailing twelve months, a 14.3% increase year-over-year, indicating cash generation ability. The balance sheet shows $6.54B in total assets with $1.17B in long-term debt against $3.86B in stockholders equity for a debt-to-equity ratio of 0.3, a conservative capital structure. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are expanding at ~32.1%, suggesting durable pricing power and cost discipline.
ROE averages 17.6% but has fluctuated — the competitive advantage may be cyclical or emerging.
Free cash flow is consistently positive and growing — a hallmark of a capital-light business that can self-fund growth.
Revenue has been flat or declining over recent quarters, which may indicate eroding demand or competitive pressure.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~37.9% — no sign of cost or pricing stress.
FCF covers net income by 1.6x on average — earnings are well-supported by cash generation.
D/E ratio is 0.3 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Share count is stable — no significant dilution or buyback activity.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation