PTC (PTC) financial statements
PTC reported revenue of $2.7B in fiscal 2025, up 10.2% a year over 9 years.
Net income was $734M and the operating margin 35.9%, against -3.2% in 2016.
Free cash flow was $857M, and the company returned $300M in net buybacks.
The diluted share count rose 5% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from PTC's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.1B | $1.2B | $1.2B | $1.3B | $1.5B | $1.8B | $1.9B | $2.1B | $2.3B | $2.7B |
| Cost of revenue | $326M | $329M | $326M | $325M | $334M | $371M | $386M | $441M | $445M | $445M |
| Gross profit | $815M | $836M | $915M | $930M | $1.1B | $1.4B | $1.5B | $1.7B | $1.9B | $2.3B |
| Research and development | $229M | $236M | $250M | $247M | $257M | $300M | $339M | $394M | $433M | $458M |
| Selling, general and admin | $513M | $518M | $558M | $545M | $595M | $724M | $690M | $764M | $791M | $793M |
| Operating income | -$37M | $42M | $73M | $63M | $211M | $381M | $447M | $458M | $588M | $982M |
| Interest expense | $30M | $42M | $42M | $43M | $76M | $50M | $54M | $129M | $120M | $77M |
| Pre-tax income | -$67M | -$1M | $29M | $20M | $135M | $392M | $397M | $333M | $469M | $920M |
| Income tax | -$13M | -$8M | -$23M | $48M | $4M | -$85M | $84M | $87M | $93M | $186M |
| Net income | -$54M | $6M | $52M | -$27M | $131M | $477M | $313M | $246M | $376M | $734M |
| EPS (diluted) | -$0.48 | $0.05 | $0.44 | -$0.23 | $1.12 | $4.03 | $2.65 | $2.06 | $3.12 | $6.08 |
| Diluted shares | 115M | 117M | 118M | 118M | 116M | 118M | 118M | 119M | 121M | 121M |
| Gross margin | 71.4% | 71.8% | 73.7% | 74.1% | 77.1% | 79.5% | 80.0% | 79.0% | 80.6% | 83.8% |
| Operating margin | -3.2% | 3.6% | 5.8% | 5.0% | 14.5% | 21.1% | 23.1% | 21.9% | 25.6% | 35.9% |
| Net margin | -4.8% | 0.5% | 4.2% | -2.2% | 9.0% | 26.4% | 16.2% | 11.7% | 16.4% | 26.8% |
Balance sheet
Fiscal years, from PTC's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $297M | $298M | $286M | $297M | $304M | $327M | $272M | $288M | $266M | $184M |
| Receivables | $161M | $152M | $129M | $373M | $415M | $541M | $637M | $811M | $862M | $1.0B |
| Total current assets | $643M | $667M | $634M | $783M | $833M | $1.1B | $1.1B | $1.3B | $1.3B | $1.4B |
| Property, plant and equipment | $67M | $64M | $81M | $106M | $101M | $100M | $98M | $88M | $75M | $61M |
| Goodwill | $1.2B | $1.2B | $1.2B | $1.2B | $1.6B | $2.2B | $2.4B | $3.4B | $3.5B | $3.5B |
| Total assets | $2.3B | $2.4B | $2.3B | $2.7B | $3.4B | $4.5B | $4.7B | $6.3B | $6.4B | $6.6B |
| Total current liabilities | $655M | $679M | $735M | $638M | $681M | $779M | $792M | $1.7B | $1.7B | $1.2B |
| Total liabilities | $1.5B | $1.5B | $1.5B | $1.5B | $1.9B | $2.5B | $2.4B | $3.6B | $3.2B | $2.8B |
| Shareholders' equity | $843M | $885M | $875M | $1.2B | $1.4B | $2.0B | $2.3B | $2.7B | $3.2B | $3.8B |
| Net debt | -$278M | -$280M | -$260M | -$270M | -$275M | -$327M | -$272M | -$279M | $256M | -$159M |
Cash flow
Fiscal years, from PTC's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $183M | $135M | $248M | $285M | $234M | $369M | $435M | $611M | $750M | $868M |
| Capital spending | $26M | $25M | $36M | $64M | $20M | $25M | $19M | $24M | $14M | $11M |
| Free cash flow | $157M | $110M | $212M | $221M | $214M | $344M | $416M | $587M | $736M | $857M |
| Stock-based compensation | $66M | $77M | $83M | $86M | $115M | $177M | $175M | $206M | $223M | $216M |
| Share buybacks (net) | $0 | -$51M | -$1.1B | -$115M | $0 | -$30M | -$125M | $0 | $0 | -$300M |
| Free cash flow margin | 13.8% | 9.4% | 17.0% | 17.6% | 14.6% | 19.0% | 21.5% | 28.0% | 32.0% | 31.3% |
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Open PTC in InvestinglyQuestions
What was PTC's revenue in 2025?
$2.7B in fiscal 2025, from its 10-K filing.
How much free cash flow does PTC generate?
$857M in fiscal 2025 (operating cash flow minus capital spending).
From PTC's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.