PTC Inc

PTC

Equity

ISIN null / Valor 20488241

NASDAQ (2026-09-25)

USD 138.12+0.52%

PTC Inc
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About company

PTC Inc. is a publicly traded enterprise software company that develops and sells applications for product design, product lifecycle management (PLM), industrial connectivity and analytics, and augmented reality (AR). Its product portfolio includes CAD and design software (Creo), PLM systems (Windchill), an industrial IoT platform (ThingWorx) and AR tools (Vuforia), and it delivers these as on‑premises and cloud/subscription offerings alongside professional services and support. PTC’s products are used by manufacturers and engineering organizations across industries such as industrial equipment, automotive, aerospace, medical devices and electronics to manage engineering data, connect products and assets to operational systems, and create AR experiences for service, training and visualization. Revenue is driven primarily by software licenses and recurring subscription and cloud services, supplemented by implementation and consulting engagements.

Summarized from source with an LLMView SourceSector: Technology

ARR and subscription momentum

Q4'25 ARR as reported was $2,478M (up 10% YoY); constant-currency ARR was $2,446M (up 8.5% YoY). Management provided FY'26 ARR guidance of 7%–9% growth including Kepware/ThingWorx (7.5%–9.5% excluding them).

Revenue and margins

Q4'25 revenue was $894M (+43% YoY; +39% CC). FY'25 revenue was $2,739M (+19% YoY; +18% CC). GAAP operating margin improved to 49% in Q4 and 36% for FY'25; non‑GAAP operating margin was 59% in Q4 and 48% for the year.

Cash flow strength

Q4'25 operating cash flow was $104M and free cash flow $100M. FY'25 operating cash flow was $868M and free cash flow $857M — both record annual cash flows and up ~16% year over year. FY'26 guidance targets ~ $1.03B operating cash flow and ~ $1.0B free cash flow (includes Kepware/ThingWorx until divestiture close).

Earnings and profitability

Q4'25 GAAP diluted EPS was $2.94 (non‑GAAP $3.47). FY'25 GAAP diluted EPS was $6.14 (non‑GAAP $8.00). Net income for Q4'25 was $354.8M and $741.0M for FY'25.

Balance sheet, leverage and capital returns

Cash and equivalents were $184M at 9/30/25; net debt was $1,197M (down ~32% YoY) and management says leverage is below 1x. PTC increased share repurchase activity under a $2B authorization, planning ~ $200M in Q1'26 and targeting $150M–$250M per quarter in FY'26.

Strategic actions

PTC announced divestiture of Kepware and ThingWorx to concentrate on CAD, PLM, ALM and SLM as part of its "Intelligent Product Lifecycle" strategy and to position for AI‑driven, verticalized growth; guidance will be updated upon closing of the transaction.

FY'26 guidance (summary)

FY'26 guidance (includes Kepware/ThingWorx until close): constant-currency ARR growth 7%–9% (7.5%–9.5% excl.), operating cash flow ~ $1,030M, free cash flow ~ $1,000M, revenue $2,650M–$2,915M, GAAP EPS $4.37–$6.87, and non‑GAAP EPS $6.49–$8.95.

Summarized from source with an LLMView Source

Key figures

-31.9%1Y

-1.95%3Y

11.8%5Y

Performance

36.3%1Y

30.8%3Y

31.5%5Y

Volatility