PTC
PTC · NasdaqServices-Prepackaged Software · Fiscal year ends Sep 30
PTC reported revenue of $2.7B in the fiscal year ended Sep 2025, up 19.2% from the year before. Operating income was $982M, an operating margin of 35.9%, and net income was $734M. Operating cash flow of $868M less capital expenditure of $11M left free cash flow of $857M. Net debt was $1B.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Sep 2021 | Sep 2022 | Sep 2023 | Sep 2024 | Sep 2025 |
|---|---|---|---|---|---|
| Revenue | $1.8B | $1.9B | $2.1B | $2.3B | $2.7B |
| Cost of revenue | $371M | $386M | $441M | $445M | $445M |
| Gross profit | $1.4B | $1.5B | $1.7B | $1.9B | $2.3B |
| Research & development | $300M | $339M | $394M | $433M | $458M |
| Operating income | $381M | $447M | $458M | $588M | $982M |
| Interest expense | $50M | $54M | $129M | $120M | $77M |
| Pre-tax income | $392M | $397M | $333M | $469M | $920M |
| Income tax | −$85M | $84M | $87M | $93M | $186M |
| Net income | $477M | $313M | $246M | $376M | $734M |
| Diluted EPS | 4.03 | 2.65 | 2.06 | 3.12 | 6.08 |
| Diluted shares | 118M | 118M | 119M | 121M | 121M |
Balance sheet
| Fiscal year | Sep 2021 | Sep 2022 | Sep 2023 | Sep 2024 | Sep 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | $327M | $272M | $288M | $266M | $184M |
| Receivables | $541M | $637M | $811M | $862M | $1B |
| Current assets | $1.1B | $1.1B | $1.3B | $1.3B | $1.4B |
| Net PP&E | $100M | $98M | $88M | $75M | $61M |
| Goodwill | $2.2B | $2.4B | $3.4B | $3.5B | $3.5B |
| Total assets | $4.5B | $4.7B | $6.3B | $6.4B | $6.6B |
| Payables | $33M | $40M | $43M | $24M | $12M |
| Deferred revenue | $482M | $504M | $665M | $754M | $812M |
| Current liabilities | $779M | $792M | $1.7B | $1.7B | $1.2B |
| Short-term debt | – | $0 | $9M | $521M | $25M |
| Long-term debt | $1.4B | $1.4B | $1.7B | $1.2B | $1.2B |
| Total liabilities | $2.5B | $2.4B | $3.6B | $3.2B | $2.8B |
| Shareholders' equity | $2B | $2.3B | $2.7B | $3.2B | $3.8B |
| Backlog (remaining obligations) | $1.5B | $1.6B | $2.1B | $2.3B | $2.9B |
Cash flow
| Fiscal year | Sep 2021 | Sep 2022 | Sep 2023 | Sep 2024 | Sep 2025 |
|---|---|---|---|---|---|
| Operating cash flow | $369M | $435M | $611M | $750M | $868M |
| Capital expenditure | $25M | $19M | $24M | $14M | $11M |
| Free cash flow | $344M | $416M | $587M | $736M | $857M |
| Depreciation & amortisation | $85M | $88M | $105M | $108M | $103M |
| Stock-based compensation | $177M | $175M | $206M | $223M | $216M |
| Acquisitions | $718M | $283M | $828M | $93M | $7M |
| Share buybacks | $30M | $125M | $0 | $0 | $300M |
Key ratios
| Fiscal year | Sep 2021 | Sep 2022 | Sep 2023 | Sep 2024 | Sep 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 7.0% | 8.5% | 9.6% | 19.2% |
| Operating income growth (YoY) | – | 17.5% | 2.5% | 28.3% | 67.1% |
| EPS growth (YoY) | – | −34.2% | −22.3% | 51.5% | 94.9% |
| Gross margin | 79.5% | 80.0% | 79.0% | 80.6% | 83.8% |
| Operating margin | 21.1% | 23.1% | 21.9% | 25.6% | 35.9% |
| Net margin | 26.4% | 16.2% | 11.7% | 16.4% | 26.8% |
| Return on equityBlank when equity is negative | 23.4% | 13.6% | 9.2% | 11.7% | 19.2% |
| ROCEEBIT ÷ (assets − current liabilities) | 10.2% | 11.5% | 9.9% | 12.5% | 18.3% |
| Free cash flow margin | 19.0% | 21.5% | 28.0% | 32.0% | 31.3% |
| Cash conversion (CFO ÷ net income) | 0.77x | 1.39x | 2.49x | 1.99x | 1.18x |
| Receivable days | 109 | 120 | 141 | 137 | 133 |
| Payable days | 33 | 38 | 36 | 20 | 9 |
| Interest cover | 7.54x | 8.24x | 3.54x | 4.91x | 12.8x |
| Debt ÷ equity | 0.71x | 0.59x | 0.63x | 0.54x | 0.31x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | $1.1B | $1.1B | $1.4B | $1.5B | $1B |
| Current ratio | 1.38x | 1.35x | 0.76x | 0.78x | 1.12x |
Recent filings
More in Services-Prepackaged Software
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.