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PubMatic, Inc.

PUBM

$13.46 ▼ -0.04 (-0.33%) at close

8 Visible periods

28 Metrics

Peer-ranked Benchmarks

Price Chart

Health

Poor

Bearish

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Analytical Summary

PubMatic, Inc. faces fundamental challenges with weakness in Profit Margin (%) and Operating Margin (%). The fundamentals warrant careful consideration of downside risks.

Market Cap $632.7M

Dividend Yield —

Revenue Growth -2.9% ↘

Op. Margin -6.1% ↘

ROIC -6.0% ↘

FCF / Share $1.42 ↗

Trailing P/E —

Price / Book 2.4x

FCF Yield 10.5%

Debt / Equity —

info Valuation on last close. End-of-day price, Aug 6, 2026.

8-Year Financial Trajectory

Annual

Metric Value Trend Year over Year Percentile

Revenue Total top-line sales

$282.93M

↓ -2.9% —

Net Income Profit after all expenses

$-14.46M

↓ -215.7% —

Operating Margin Operating profit as % of sales

-6.1%

↓ -552.4% 19th

FCF / Share Free cash flow per share

$1.42

↑ +25.1% —

trending_up

Bullish Indicators

No bullish signals detected.

warning

Bearish Risks

Operating Margin (%)Operating Margin (%) is in the bottom quartile
Profit Margin (%)Profit Margin (%) is in the bottom quartile

Health Breakdown

Profitability ↓

Returns

Cash Quality

Financial view

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📈 Is growth accelerating? 7 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗
Revenue Growth YoY (%)	-2.9% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-124%)	9.1% Fair ↓ Fair Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-24%)	4.1% Caution ↓ Caution Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-65%)	13.0% Good ↓ Good Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+8%)	52.5% Excellent Excellent Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+338%)	30.6% Excellent Excellent Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+155%)	—	—
EPS Growth YoY (%)	N/M	47.1% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	-69.1% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	-51.3% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	121.6% Excellent Excellent Year-over-year change in earnings per share Optimal: > 10%	1175.0% Excellent Excellent Year-over-year change in earnings per share Optimal: > 10%	—	—
Net Income Growth YoY (%)	N/M	40.8% Excellent ↑ Excellent Improving Year-over-year change in net income	-69.1% Weak ↓ Weak Declining Year-over-year change in net income	-49.3% Weak ↓ Weak Declining Year-over-year change in net income	112.7% Excellent Excellent Year-over-year change in net income	300.6% Excellent Excellent Year-over-year change in net income	—	—
FCF Growth YoY (%)	25.1% Excellent ↑ Excellent Improving Year-over-year change in free cash flow	-16.7% Weak ↓ Weak Declining Year-over-year change in free cash flow	38.7% Excellent ↓ Excellent Declining Year-over-year change in free cash flow	-15.4% Weak ↓ Weak Declining Year-over-year change in free cash flow	9490.8% Excellent Excellent Year-over-year change in free cash flow	-99.5% Weak Weak Year-over-year change in free cash flow	—	—
Revenue CAGR 3Y (%)	3.3% Caution ↓ Caution Declining Compound annual revenue growth over 3 years	8.7% Fair ↓ Fair Declining Compound annual revenue growth over 3 years	21.5% Excellent Excellent Compound annual revenue growth over 3 years	31.1% Excellent Excellent Compound annual revenue growth over 3 years	—	—	—	—
Revenue CAGR 5Y (%)	13.7% Excellent Excellent Compound annual revenue growth over 5 years	20.7% Excellent Excellent Compound annual revenue growth over 5 years	—	—	—	—	—	—
EPS CAGR 3Y (%)	—	-39.5% Weak ↓ Weak Declining Compound annual EPS growth over 3 years	-30.7% Weak Weak Compound annual EPS growth over 3 years	139.6% Excellent Excellent Compound annual EPS growth over 3 years	—	—	—	—

💰 Are margins durable? 5 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗
Operating Margin (%) (%)	-6.1% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-131%)	1.3% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-93%)	0.8% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-96%)	15.8% Fair ↓ Fair Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-21%)	25.9% Excellent ↑ Excellent Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+30%)	21.3% Good Good Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+7%)	7.5% Caution Caution Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-63%)	—
Effective Tax Rate (%) (%)	9.4% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	29.7% Caution ↑ Caution Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	15.5% Good ↓ Good Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	23.4% Fair ↑ Fair Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	12.7% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	15.7% Good Good Actual taxes paid relative to pre-tax income Optimal: 15-25%	28.0% Caution Caution Actual taxes paid relative to pre-tax income Optimal: 15-25%	—
Profit Margin (%) (%)	-5.1% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-134%)	4.3% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-71%)	3.3% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-78%)	11.2% Fair ↓ Fair Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-25%)	24.9% Excellent ↑ Excellent Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+66%)	17.9% Good Good Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+19%)	5.8% Caution Caution Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-61%)	—
FCF Margin (%) (%)	23.6% Excellent ↑ Excellent Improving Free cash flow as a percentage of revenue Optimal: > 10%	19.2% Good ↓ Good Declining Free cash flow as a percentage of revenue Optimal: > 10%	26.4% Excellent ↑ Excellent Improving Free cash flow as a percentage of revenue Optimal: > 10%	20.0% Excellent ↑ Excellent Improving Free cash flow as a percentage of revenue Optimal: > 10%	25.7% Excellent ↑ Excellent Improving Free cash flow as a percentage of revenue Optimal: > 10%	0.1% Weak Weak Free cash flow as a percentage of revenue Optimal: > 10%	22.5% Excellent Excellent Free cash flow as a percentage of revenue Optimal: > 10%	—
FCF / Net Income (x)	-4.61x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	4.47x Excellent ↑ Excellent Improving Free cash flow relative to reported net income Optimal: > 1x	7.94x Excellent ↑ Excellent Improving Free cash flow relative to reported net income Optimal: > 1x	1.79x Excellent ↑ Excellent Improving Free cash flow relative to reported net income Optimal: > 1x	1.03x Fair ↓ Fair Declining Free cash flow relative to reported net income Optimal: > 1x	0.01x Weak Weak Free cash flow relative to reported net income Optimal: > 1x	3.85x Excellent Excellent Free cash flow relative to reported net income Optimal: > 1x	—

🎯 Is capital allocation efficient? 3 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗
Return on Invested Capital (%)	-6.0% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	1.0% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	0.6% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	9.9% Fair ↓ Fair Declining Return earned on debt + equity capital invested Optimal: > 10%	20.0% Excellent ↓ Excellent Declining Return earned on debt + equity capital invested Optimal: > 10%	15.3% Excellent Excellent Return earned on debt + equity capital invested Optimal: > 10%	46.1% Excellent Excellent Return earned on debt + equity capital invested Optimal: > 10%	—
Return on Capital (%) (%)	-2.5% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	0.5% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	0.3% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	6.3% Caution ↓ Caution Declining Operating profit relative to total assets Optimal: > 10%	10.7% Good Good Operating profit relative to total assets Optimal: > 10%	8.6% Fair Fair Operating profit relative to total assets Optimal: > 10%	—	—
Return on Common Equity (%) (%)	-5.5% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-130%)	4.5% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-76%)	3.0% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-84%)	9.2% Caution ↓ Caution Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-50%)	22.0% Excellent ↓ Excellent Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+19%)	15.2% Good Good Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-18%)	50.0% Excellent Excellent Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+170%)	—

⚖️ Is the balance sheet risky? 1 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗
Net Debt (USD)	$-145.52M	$-100.45M	$-78.51M	$-92.38M	$-82.50M	$-81.19M	—	—

📊 What does each share earn? 6 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗
Revenue per Share (USD)	$6.02	$5.92	$5.16	$4.90	$4.52	$11.77	$11.35	—
Basic EPS, GAAP (USD)	$-0.31	$0.25	$0.17	$0.55	$1.13	$0.51	$0.04	—
Free Cash Flow per Share (USD)	$1.42	$1.13	$1.36	$0.98	$1.16	$0.01	$2.55	—
Book Value per Share (USD)	$5.59	$5.63	$5.72	$5.97	$5.12	$13.88	$1.32	—
Tangible Book Value per Share (USD)	$4.90	$4.95	$5.04	$5.25	$5.00	$13.38	$1.32	—
Basic Weighted Avg Shares (shares)	47.01M	49.21M	51.76M	52.28M	50.18M	12.64M	10.04M	—

🏦 How resilient is the balance sheet? 2 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗
Working Capital (USD)	$146.80M	$156.74M	$182.36M	$201.45M	$193.78M	$135.54M	—	—
Total Equity (USD)	$262.59M	$277.26M	$296.20M	$312.19M	$257.18M	$175.43M	$13.29M	$4.62M

📋 What is driving earnings? 4 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗
Sales/Revenue/Turnover (USD)	$282.93M	$291.26M	$267.01M	$256.38M	$226.91M	$148.75M	$113.87M	—
Depreciation Expense (USD)	$19.00M	$24.80M	$28.50M	$23.60M	$9.80M	$9.80M	$6.90M	—
Net Income, GAAP (USD)	$-14.46M	$12.50M	$8.88M	$28.70M	$56.60M	$26.61M	$6.64M	—
Operating Cash Flow (USD)	$81.06M	$73.42M	$81.12M	$87.21M	$88.68M	$24.33M	$35.12M	—

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bar_chart Data from SEC EDGAR XBRL filings

Synced 1 week ago 8 years · 27 quarters

PubMatic, Inc.

Analytical Summary

8-Year Financial Trajectory

Bullish Indicators

Bearish Risks

Health Breakdown

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