Filing Flows › PubMatic (PUBM) › Takeover & LBO
Is PubMatic (PUBM) a takeover target?
A leveraged buyout does not work for PubMatic on its latest figures: its EBITDA margin is only 0.7% ($2.1M on revenue of $289M), too thin to carry buyout debt. Historically 6.5% of companies with its figures were bought within a year (1.29× the average).
Why a leveraged buyout does not fit
PubMatic kept 0.7% of its revenue as EBITDA over the last 12 months ($2.1M on $289M). A margin that thin cannot carry the debt a leveraged buyout needs — a small dip in sales would leave nothing for interest — so the model gives no buyout price.
What a takeover could cost
Takeovers in its sector paid a median premium of 30% over the share price before the deal (the middle half 12% to 31%), according to the 14 merger proxies and tender-offer responses on EDGAR that state a premium. At the median, PubMatic would cost about $21.63 a share, $997M for all its shares.
| Premium | % | Price a share | All shares |
|---|---|---|---|
| Low end (a quarter of deals paid less) | 12% | $18.64 | $859M |
| Median | 30% | $21.63 | $997M |
| High end (a quarter paid more) | 31% | $21.80 | $1.0B |
The odds, from history
Historically 6.5% of companies with its figures were bought within a year (1.29× the average). Its figures put it in decile 8 of 10 (10 = the most likely to be bought). The odds come from a model of every merger proxy, tender-offer response and going-private statement filed on EDGAR since 2011, set against each company's size, margins, debt, cash flow and growth the year before.
PubMatic's latest quarter
PubMatic, Q2 2026: revenue $78.6M (+10% year over year), operating margin 0.7%, net loss $1.2M, operating cash flow $20.2M. The chart follows the revenue to costs, profit and cash.
Questions
Is PubMatic being acquired?
No headline, 8-K or 13D about a sale is on file in the last year.
Could private equity buy PubMatic?
A leveraged buyout does not work for PubMatic on its latest figures: its EBITDA margin is only 0.7% ($2.1M on revenue of $289M), too thin to carry buyout debt. A margin that thin leaves almost nothing to pay interest with, so buyout debt does not fit.
What would a takeover of PubMatic cost?
Takeovers in its sector paid a median premium of 30% over the share price before the deal (the middle half 12% to 31%), according to the 14 merger proxies and tender-offer responses on EDGAR that state a premium. At the median, PubMatic would cost about $21.63 a share, $997M for all its shares.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.