PTC Inc. (PTC)
POSITIVE基本面
79
价格
$150.63
市值
$16.78B
第一部分 · 这家公司值多少
概览
PTC sells software that engineers use to design products and manage everything about them over their lifetime: CAD tools such as Creo and Onshape for drawing parts, Windchill for tracking product data through design and manufacturing, and add-on tools for managing software content and service operations in complex machines. Customers are mostly industrial manufacturers — makers of vehicles, machinery and electronics — who build the software into how their engineering teams work every day.
盈利方式
About 95% of PTC's revenue is recurring, coming from subscription fees for its cloud products and annual support and maintenance fees on software still licensed on-premise. Because engineering teams design around a specific CAD or product-data system for years, contracts tend to renew and grow in value as customers add more users or modules rather than switch providers.
护城河
转换成本 · 狭窄Years of product designs, engineering workflows and integrations with manufacturing systems accumulate inside PTC's software, so replacing it would mean re-doing that work and retraining engineers, which discourages switching. The advantage is narrow because Siemens, Dassault Systèmes and Autodesk are larger, better-capitalized rivals fighting for the same enterprise contracts.
需求驱动因素
中度周期性New licenses and expansion of existing contracts follow manufacturers' engineering and IT budgets, which contract when industrial production slows. The large recurring subscription and maintenance base cushions the effect, since existing customers keep paying even as new spending is deferred.
主要风险
- Larger, better-capitalized competitors — Siemens and Dassault Systèmes are significantly larger and can outspend PTC on cloud infrastructure and product development, while Microsoft and SAP are expanding into adjacent industrial software.
- Cybersecurity exposure — PTC's software holds customers' proprietary product designs; a successful cyberattack could compromise that data, damage its reputation and trigger significant remediation costs.
- Reliance on partners and cloud providers — PTC depends on a network of resellers and third-party cloud infrastructure to deliver and support its products; disruption at those partners can affect service and sales.
- Sensitivity to manufacturing capital spending — New software sales and contract expansions depend on industrial customers' willingness to invest in engineering tools, which they cut back first when production slows.
看多理由
Buyers argue that a 95%-recurring revenue base, growing annual recurring revenue and deep entrenchment inside customers' engineering workflows give PTC a durable, high-margin business even in a market with larger rivals.
看空理由
Sellers fear that Siemens and Dassault Systèmes can invest far more in cloud infrastructure and next-generation features, and that a slowdown in industrial capital spending would still weigh on new sales even with a large recurring base.
Written by the editors, published on 2026年8月18日
Direct competitors
Who this company fights with for the same customers
No editorial profile for this company yet
No competitor list for this company yet.
资产负债表与流动性
营收
$2.95B
最近12个月(截至2026/6/30)
净利润
$1.22B
最近12个月(截至2026/6/30)
自由现金流
$857M
股东权益合计
$3.83B
负债合计
$2.79B
流动比率
1.03
利息覆盖率
17.10
债务/EBITDA
1.48
每股收益
营收与净利润
自由现金流
收入构成
历史财务表
利润率变化
债务变化
债务负担有多重
增长一览表
增长 — 营业收入
公允价值估算
公允价值
$240.09
当前价格
$150.63
安全边际
+37.3%
公允价值区间
$156.06 - $324.12
估算方法
估值指标
市盈率(P/E)
15.01
ROE
19.2%
市净率(P/B)
4.83
P/FCF
17.90
毛利率
84.5%
ROIC
17.1%
盈利能力雷达图
Value Creation (Economic Moat)
ROIC
17.1%
WACC
9.4%
ROIC − WACC
+7.6 pp
ROIC exceeds the cost of capital — the company is creating value for shareholders.
基本面分析标准
通过(23)
- EPS shows upward trend
- EPS CAGR 13.75%
- Price CAGR 12.83%
- ROIC 17.1%
- Gross Margin 84.5%
- P/FCF 17.90
- Debt/Equity ratio
- Operating Margin 37.8%
- Positive Free Cash Flow
- CapEx intensity
- Current Ratio
- Interest Coverage
- Debt/EBITDA
- Return on Tangible Assets
- ROE 32.6%
- Revenue Growth 5Y 13.4%
- Analyst Consensus 58% Buy
- Earnings Surprise avg 24.8%
- PEG Ratio 0.33
- Earnings Quality (OCF/NI) 0.78
- Share Dilution 0.1%
- Net Margin Trend 41.4% vs 20.7%
- Piotroski F-Score 9/9
未通过(4)
- P/B Ratio 4.83
- Low reliance on intangibles
- Price below Graham Number
- DCF valuation (Overvalued)
不可用(1)
- Dividend Payout NaN%
Piotroski F-评分
财务状况强健
盈利质量
中等:利润与现金之间存在一定差距
股权稀释
股份数量稳定
公司治理
管理团队
| 姓名 | 职位 | 年龄 |
|---|---|---|
| Mr. Neil Barua | President, CEO & Director | 47 |
| Mr. Aaron C. Von Staats Esq. | Executive VP, General Counsel & Corporate Secretary | 59 |
| Ms. Catherine A. Kniker | EVP, Chief Marketing & Sustainability Officer | 59 |
| Mr. Robert Dahdah | Executive VP & Chief Revenue Officer | 57 |
| Ms. Jennifer DiRico | Executive VP & CFO | 40 |
| Ms. Alice Christenson | Chief Accounting Officer | - |
| Mr. Michael Donald Maguire | Head of Investor Relations | - |
| Ms. Beth Conway | Executive VP & Chief People Officer | - |
| Catherine Gorecki | Senior VP of Corporate & Securities Counsel and Assistant Secretary | - |
| Mr. Amit Jain | Chief Strategy Officer | - |
审计风险
8
董事会风险
3
薪酬风险
3
股东权利风险
9
第二部分 · 价格与买入时机
这一部分不判断公司是否值得拥有:它帮助你在基本面说服你之后,选择何时买入。包含:技术分析、潜力、历史回撤、Gamma 敞口。
Latest News
Recent headlines for PTC, sourced from Markets Gazette.
- 5/7/2026POSITIVEPTC Stock Surges Over 7% Overnight: Why Is It Moving?
PTC Inc. shares experienced a significant surge of 7.53% in after-hours trading following its Q2 fiscal 2026 earnings report. The company surpassed revenue estimates by 8.63% and earnings per share (EPS) expectations by a substantial 33.83%. This strong performance indicates robust operational execution and better-than-anticipated market reception for its products or services. For investors, these results suggest a positive trajectory and potential for continued growth, likely leading to upward price target adjustments from analysts.
via Markets Gazette