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PTC (PTC) earnings and revenue breakdown

Latest: Q4 FY26 · 8-K filed Nov 4, 2026

Q4 FY26 Revenue down 25% year over year to $673M · 23¢ of every $1 of revenue kept as net profit · operating margin 31.6%

PTC made $673M in Q4 FY26 (-25% Y/Y): Recurring revenue $645M, Professional services $24.1M, Perpetual license $3.9M. Operating margin 31.6%, net earnings $157M. See where every dollar goes — costs, profit and cash — as a Sankey from the 8-K filed Nov 4, 2026 (preliminary, from the earnings release).

Revenue$673M
Year over year-25%
Operating margin31.6%
Net earnings$157M
Operating cash flow$47.3M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $673.3M in Q4 FY26, down 25% year over year and up 12% from the previous quarter. Recurring revenue was the largest line at 96% of revenue. Recurring revenue lost $215.8M year over year (down 25%), 98% of the total change.

Gross margin was 82.8%, down 4.1 points from Q4 FY25. Operating profit was $212.6M, a 31.6% margin (down 16.9 points year over year). Operating expenses grew 0% against a revenue fall of 25%. Net earnings were $157.3M, down 55% year over year. The effective tax rate was 19.4%.

Operating cash flow was $47.3M (down 55% year over year), 30% of net earnings. Non-cash charges added back $24.4M of depreciation and amortization and $66.2M of share-based compensation. Working capital and other items used $200.6M. After capital expenditures ($9.7M), free cash flow as the company reports it was $37.7M.

Quarterly history

PTC revenue by quarterPTC revenue by quarter$636MQ2 FY25$644MQ3 FY25$894MQ4 FY25$686MQ1 FY26$774MQ2 FY26$600MQ3 FY26$673MQ4 FY26
PTC net earnings by quarterPTC net earnings by quarter$163MQ2 FY25$141MQ3 FY25$348MQ4 FY25$167MQ1 FY26$591MQ2 FY26$119MQ3 FY26$157MQ4 FY26
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q4 FY268-KNov 4, 2026$673M-25%31.6%$157M$47.3M
Q3 FY2610-QJul 31, 2026$600M-7%27.7%$119M$261M
Q2 FY2610-QMay 7, 2026$774M+22%38.2%$591M$321M
Q1 FY2610-QFeb 5, 2026$686M+21%32.2%$167M$270M
Q4 FY2510-KNov 21, 2025$894M+43%48.5%$348M$104M
Q3 FY2510-QJul 31, 2025$644M+24%32.6%$141M$244M
Q2 FY2510-QMay 1, 2025$636M+6%35.1%$163M$281M

Charts

PTC: revenue growth, year over year and quarter over quarterPTC: revenue growth, year over year and quarter over quarterY/YQ/Q+6%Q2 FY25+24%+1%Q3 FY25+43%+39%Q4 FY25+21%-23%Q1 FY26+22%+13%Q2 FY26-7%-23%Q3 FY26-25%+12%Q4 FY26
Latest (Q4 FY26): Y/Y -25%, Q/Q +12%.
PTC: where the cash came from (+) and went (−), TTM to Q3 FY26PTC: where the cash came from (+) and went (−), TTM to Q3 FY26Buybacks−$1.4BOperating cash flow$955MOther investing$494MNet borrowing (+) / repaid (−)$189MCash drawn (+) / kept (−)−$152MTaxes on employees’ shares−$75.8MShares issued$25.9MCapital spending−$19.8MExchange rates−$10.0MAcquisitions−$3.6MOther financing−$1.0M
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
PTC: profit against cash, quarter by quarterPTC: profit against cash, quarter by quarterNet incomeOperating cash flow$127M$98.1MQ4 FY24$82.2M$238MQ1 FY25$163M$281MQ2 FY25$141M$244MQ3 FY25$348M$104MQ4 FY25$167M$270MQ1 FY26$591M$321MQ2 FY26$119M$261MQ3 FY26
Latest (Q3 FY26): Net income $119M, Operating cash flow $261M.
PTC: diluted shares by fiscal yearPTC: diluted shares by fiscal year116MFY20118MFY21118MFY22119MFY23121MFY24121MFY25
+3.9% since FY20: more shares outstanding (issuance, stock pay).
PTC in its industry: growth against margin (192 companies, SIC 7372)PTC in its industry: growth against margin (192 companies, SIC 7372)revenue growth, year over year →↑ operating marginmedian +12%median 0%MSFTORCLCRMADBEXYZINTUNOWSHOPCRWVSNPSPLTRADSKElectronic Arts Inc.TEAMSSNCCDNSRBLXTWLOSNOWTTWOCRWDGENDDOGHUBSVEEVDOCUOKTANETMDBNTNXTYLDBXUDTPAYCMBLYESTCPCTYZETARBRKACIWBSYGWREPATHPCORTDCOCTVFIGKVYOCOURBILLBOXCVLTDUOLSAILGTMMANHLIMEAPPFCCCYOUTTANBLKBSGTLBALRMTENBWKPRGSFRSHAPPNBANDNAVNBRZEQTWONTSKASANCXMVERXRPDSPSCBLFSLYVRNSQLYSFROGMQBBINTANCNOEVCMNABLVIAALKTAVPTSPTPDGDYNXPERAMPLDDDSKILCERTCCSICMRCMKTWHUCKCRNCPDFSWEAVSOUNINSEXZODHIIIVLiveperson IncAIMRDNMYPSUPLDKLTRBLZELAWDRTTFBBAIMAPSCCLDEXFYRDVTSSTIEGANNTWKRCATSNALFDCTSVCOMCHXAEYEZDGEADBTWFCFAISPDUOTIDNPDYNQUBTZSPCROCFATNAWRESMSIINLXBLINMSGMGEGSEGGMYSZCXAIGXAIPARAAITXBKYICYABAPCXSPAIDSNYEXYNIDAIATDSIVDAVPRBSKKYUMEWAIFFAUIDGlobal Arena Holding, Inc.ATHRVIDAQXLLIVGUPYYFNGRSVMBTransparentBusiness, Inc.SWMRAMSTTransit Pro Tech Inc.PXLWDNKCDPLSGYGYPTC (-25%, 32%)
Services-Prepackaged Software; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About PTC

PTC (NASDAQ: PTC) is a global software company that enables industrial and manufacturing companies to digitally transform how they engineer, manufacture, and service the physical products that the world relies on. Headquartered in Boston, Massachusetts, PTC employs over 7,000 people and supports more than 30,000 customers globally. For more information, please visit www.ptc.com.

In its own words, from its 8-K, filed Jul 29, 2026.

PTC against its Services-Prepackaged Software peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -25% against the peers' median +14%. Operating margin: 31.6% against the peers' median 20.5%.

CompanyQuarterRevenueY/YOp. margin
PTC PTCQ4 FY26$673M-25%31.6%
MSFT MicrosoftQ1 FY27$92.3B+19%49.8%
ORCL OracleQ1 FY27$19.3B+30%34.8%
CRM SalesforceQ2 FY27$11.3B+11%20.5%
ADBE AdobeQ3 FY26$6.8B+13%34.8%
XYZ BlockQ3 2026$6.7B+10%6.4%
INTU IntuitQ4 FY26$4.4B+14%10.9%
NOW ServiceNowQ3 2026$4.1B+20%9.4%
SHOP ShopifyQ3 2026$3.7B+32%15.2%

Source: PTC 8-K on SEC EDGAR · CIK 857005 · Services-Prepackaged Software

Guidance and outlook

PTC Revenue: guidance against what was reportedPTC Revenue: guidance against what was reportedguided rangereported (above / within / below)FY25$2.7B
Met or beat 1 of 1 guided periods. Grey: the last range guided before the figures came out; dot: the reported figure.
PTC GAAP tax rate: guidance against what was reportedPTC GAAP tax rate: guidance against what was reportedguided rangereported (above / within / below)FY2419.8%FY2520.2%FY26Q4 FY26
Met or beat 2 of 2 guided periods. Grey: the last range guided before the figures came out; dot: the reported figure.

13F: who owns PTC and who is buying

Largest holders of PTC (13F)Largest holders of PTC (13F)Vanguard Group$2.6BT. Rowe Price Investment Manageme…$1.5BBlackRock$1.3BVanguard Capital Management LLC$858MState Street$733MVanguard Portfolio Management LLC$651MJanus Henderson Group$503MGeode Capital Management, LLC$427MJupiter Topco LLC$419MPictet Asset Management Holding SA$418M
Funds' net buying of PTC by quarter (13F)Funds' net buying of PTC by quarter (13F)−$451M2024-09−$221M2024-12$220M2025-03$421M2025-06−$677M2025-09$2.3B2025-12−$1.9B2026-03−$481M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on PTC

History

Every quarter: Q4 FY26 results · Q3 FY26 results · Q2 FY26 results · Q1 FY26 results · Q4 FY25 results · Q3 FY25 results · Q2 FY25 results

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中文版：PTC（PTC）财报

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