PTC INC.(PTC)Stock Analysis
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Rank #351 of 2,879 stocksTOP 25%
Rankings refresh quarterly once 80% of peers have filed (~45 days after quarter-end). Next update: ~Aug 14, 2026.
Revenue Growth
Profitability
Balance Sheet
Earnings Quality
Free Cash Flow
Institutional Flow
Revenue Scale
Dilution Risk
PTC Stock Analysis & AI Quality Score
AI stock analysis and institutional research for PTC INC. (PTC), a Technology sector company. 13F Pro's AI-powered ranking engine scores PTC at 69.8/100 on a 32-signal composite quality model, placing it at rank #351 of 2,879 stocks — the top 25% of the AI-ranked universe. PTC scores in the top quartile across profitability (94.0), balance sheet strength (94.0), free cash flow (90.2). Areas of concern include institutional flow (10.1) and revenue growth (36.2), which score below median versus the broader universe. Shareholder dilution risk is elevated at 19.8/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q2 2026), PTC INC. reports quarterly revenue of $774.3M, net income of $590.7M, an operating margin of 38.2%. Top institutional holders of PTC by reported 13-F value include BlackRock,, VANGUARD CAPITAL MANAGEMENT, VANGUARD PORTFOLIO MANAGEMENT, based on the most recent SEC filings. PTC trades on the Nasdaq exchange and files with the SEC under CIK 857005. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate PTC daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for PTC INC. directly from SEC EDGAR. PTC INC.'s 13F Pro composite quality score has ranged between 8 and 77 since 2021, currently 69.8 — a stable long-term trajectory across 56 quarterly and live scoring snapshots.
What's Driving PTC's Business? Latest 10-Q Breakdown
✓ 30/30 datapoints verifiedAI-extracted from PTC INC.'s 10-Q filed 2026-05-07 — Q2 FY2026 (quarter ended March 31, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
Revenue grew 22% to $774.3M driven by strong license growth; divestiture of Kepware and ThingWorx added $462.6M gain, boosting diluted EPS to $4.98.
Biggest Revenue Drivers
Total revenue: $774.3M+22% YoY
License revenue growth driven by value and duration of contracts commencing in the period; support and cloud services grew mainly in CAD and PLM.
Within Software revenue
Driven by Windchill license revenue growth in the Americas.
Growth mainly driven by CAD and PLM.
Decrease reflects strategy of leveraging partners to deliver services rather than contracting directly.
Largest Expense Items
Higher cloud subscription costs, software subscription-related costs, and compensation-related costs.
Higher compensation expense driven by headcount growth and merit increases.
Higher compensation expense from headcount growth and merit increases.
Increased by $27M in divestiture-related charges and $19M in higher compensation including severance costs.
Margins: Gross margin expanded to 85% from 83% YoY, driven by higher revenue and favorable mix. Operating margin grew approximately 310 basis points to 38.2%, reflecting higher revenue and operational discipline, partially offset by $27M in divestiture-related charges.
Watch Items from the Filing
- Kepware and ThingWorx divestiture closed March 13, 2026 for $530.8M consideration; up to $125M additional contingent consideration possible. Requires ongoing transition services agreement for up to 12 months.
- ARR grew 3% YoY to $2.36B (1% constant currency), significantly impacted by Kepware/ThingWorx divestiture; excluding divested businesses, ARR grew 11% (8.5% constant currency).
- Professional services revenue declined 17% in Q2; company executing strategy to shift service delivery to partners rather than in-house, creating revenue headwind.
- Approximately 55% of revenue and 30% of expenses transacted in non-USD currencies; foreign exchange headwinds reduced reported revenue growth by ~7 percentage points YoY.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
Revenue
Q2 2026
$774.3M
Net Income
Q2 2026
$590.7M
Free Cash Flow
Q2 2026
$318.2M
Operating Margin
Q2 2026
38.2%
D/E Ratio
Q2 2026
0.31
Revenue & Net Income
Earnings Per Share
Key Financials Over Time
Export Financial Table · Pro+Revenue
+9.6% YoYNet Income
+53.3% YoYOperating Income
+28.3% YoYEPS (Diluted)
+51.5% YoYTotal Assets
+1.5% YoYTotal Debt
+3.1% YoYOp. Cash Flow
+22.8% YoY| Metric | FY 2024 | FY 2023 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|
| Revenue | $2.30B +9.6% | $2.10B +67.0% | $1.26B +1.1% | $1.24B +6.7% | $1.16B +2.1% | $1.14B |
| Net Income | $376.3M +53.3% | $245.5M +994.2% | $-27.5M -152.8% | $52.0M +733.3% | $6.2M +111.5% | $-54.5M |
| Operating Income | $588.1M +28.3% | $458.5M +627.3% | $63.0M -13.2% | $72.6M +73.9% | $41.8M +212.8% | $-37.0M |
| EPS (Diluted) | $3.12 +51.5% | $2.06 +995.7% | $-0.23 -152.3% | $0.44 +780.0% | $0.05 +110.4% | $-0.48 |
| Total Assets | $6.38B +1.5% | $6.29B +136.0% | $2.66B +14.4% | $2.33B -1.3% | $2.36B +0.6% | $2.35B |
| Total Debt | $1.75B +3.1% | $1.70B +153.4% | $669.1M +4.0% | $643.3M | — | — |
| Operating Cash Flow | $750.0M +22.8% | $610.9M +114.2% | $285.1M +15.1% | $247.8M +83.2% | $135.2M -26.2% | $183.3M |
AI Insight: PTC Financial Trends
PTC's debt fell 34% from $1,811M to $1,198M in six quarters while revenue jumped 49% year-over-year in Q3 2025, signaling a strengthening financial profile.
• Revenue surged 49% year-over-year in Q3 2025 to $894M, the strongest quarter in the dataset, before normalizing to $774M in Q1 2026.
• Total debt declined steadily from $1,811M in Q2 2024 to $1,197M in Q3 2025, a 34% reduction over five quarters.
• Operating income reached a peak of $434M in Q3 2025, implying an operating margin near 49%, well above the $96M–$223M range in prior quarters.
• Equity grew from $3,015M in Q2 2024 to $3,860M in Q1 2026, a consistent 28% expansion reflecting retained earnings accretion.
⚠ Operating cash flow dropped sharply to $104M in Q3 2025 despite record operating income of $434M — a notable working-capital divergence to monitor.
⚠ Debt reduction stalled: total debt was flat at $1,198M across Q3 2025 through Q1 2026, ending the deleveraging trend.
⚠ Net income of $591M in Q1 2026 substantially exceeded operating income of $296M — the gap likely reflects non-operating items worth scrutinizing for sustainability.
AI Insight: PTC Ratio Trends
PTC's leverage halved from 0.60 to 0.31 D/E over four quarters while operating margin nearly doubled year-over-year, signaling a meaningfully stronger financial profile.
• D/E ratio fell from 0.60 in Q2 2024 to 0.31 in Q1 2026, a 48% reduction in leverage over five quarters.
• Operating margin expanded from 18.5% in Q2 2024 to 38.2% in Q1 2026, with a peak of 48.5% in Q3 2025.
• ROIC surged from 7.9% in Q2 2024 to 34.5% in Q3 2025 before moderating to 23.4% in Q1 2026.
• Q1 2026 NPM of 76.3% is a sharp outlier versus the 21.9%–38.9% range in prior quarters, suggesting a one-off item.
⚠ Q1 2026 NPM of 76.3% far exceeds operating margin of 38.2% — likely a non-recurring gain; sustainability is unconfirmed.
⚠ ROIC retreated from 34.5% in Q3 2025 to 17.5% in Q4 2025, then 23.4% in Q1 2026 — sequential volatility warrants monitoring.
⚠ Operating margin oscillates widely each quarter (Q4 2025: 32.2% vs Q3 2025: 48.5%); seasonality or deal timing may mask true run-rate.
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Top Institutional Holders of PTC
BlackRock, Inc.
$1.6B11,555,780 shVANGUARD CAPITAL MANAGEMENT LLC
$1.1B7,735,222 shVANGUARD PORTFOLIO MANAGEMENT LLC
$836.6M5,871,374 shSTATE STREET CORP
$834.3M5,855,368 shGEODE CAPITAL MANAGEMENT, LLC
$523.1M3,671,236 shJANUS HENDERSON GROUP PLC
$503.0M3,530,070 shPictet Asset Management Holding SA
$499.5M3,505,930 shInvesco Ltd.
$280.6M1,968,927 shStandard Investments LLC
$258.3M1,812,500 shAmundi
$245.9M1,725,555 sh
| Fund | Value | Shares |
|---|---|---|
| BlackRock, Inc. | $1.6B | 11,555,780 |
| VANGUARD CAPITAL MANAGEMENT LLC | $1.1B | 7,735,222 |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $836.6M | 5,871,374 |
| STATE STREET CORP | $834.3M | 5,855,368 |
| GEODE CAPITAL MANAGEMENT, LLC | $523.1M | 3,671,236 |
| JANUS HENDERSON GROUP PLC | $503.0M | 3,530,070 |
| Pictet Asset Management Holding SA | $499.5M | 3,505,930 |
| Invesco Ltd. | $280.6M | 1,968,927 |
| Standard Investments LLC | $258.3M | 1,812,500 |
| Amundi | $245.9M | 1,725,555 |
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Is PTC a good stock to buy?
13F Pro's AI-powered analysis of PTC INC. (PTC) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Technology sector (listed on Nasdaq). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for PTC are available on the PTC stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing.
Which hedge funds own PTC?
Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling PTC. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of PTC INC.'s investment landscape.