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PDF Solutions, Inc.

PDFS Technology Software Application

PDF Solutions, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $219.0 million, up 22.0% from fiscal 2024.

Revenue
+19.6%
EPS
+433.3%
Free cash flow
+552.9%
Total debt
−3.29%

Quarter to September 2026, against a year earlier

34.49 5.30 −13.32%
Market cap
$1.5B
P/E
90.8×
Fwd P/E
88.2×
Dividend yield
—
F-score
4/9
Altman Z
5.07
Beneish M
−2.40
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Sold, $m 0.23
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — 2 — — —
Insider Ownership 10.67%

Capital & Financial Ratios $m

Size
Market Cap 1,460.00
Revenue ttm 252.40
Net income ttm 15.86
Free cash flow ttm 49.18
Net debt Q 65.33
Valuation
P/E 90.76 (above 35: high)
Forward P/E 88.20 (above 35: high)
Price / sales 5.77
Forward P/S Powerpack
Price / FCF 0.00
Price / book 3.80
Financial health
Current ratio Q 3.29 (at or above 1.5: strong)
Debt / equity Q 0.17 (at or below 0.5: strong)
Interest coverage Q 7.38
Growth
Revenue growth Q +19.64% (above 0%: growing)
Operating income growth Q +71.66% (above 0%: growing)
EPS, this year +37.58% (at or above 15%: strong)
EPS, next year A +27.76% (at or above 15%: strong)
Revenue, next year A +20.44% (at or above 10%: strong)
EPS, past 5 yrs —
EPS, next 5 yrs A +29.68% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 5.6×, against a ten-year median of 5.6×; over the ten years it ranged from 1.7× in 2018 to 11.8× in 2026.
P/E against its own 10 years 32.90%
10-year low 10-year high
P/S against its own 10 years 40.52%
10-year low 10-year high
P/B against its own 10 years 58.12%
10-year low 10-year high
EV/Sales against its own 10 years 50.57%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 136 115 42 —
Receivables 45 74 83 97
Inventory — — — —
Other — — — —
198 206 164 257
2023 2024 2025 Q'26
Payables 3 8 17 13
ST’ Debt — — 2 2
Other — — — —
51 61 72 78

Compound Annual Growth %

10y 5y 3y
Sales 8.38% 19.99% 13.82%
Cash Flow (2.29%) 2.00% (9.36%)
Earnings 0.00% 0.00% 0.00%
Book Value 4.51% 2.94% 8.87%

Earnings Trends EPS, adjusted, against the consensus

Q2 FY26 Estimate 0.26 Actual 0.27

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q3 FY25 0.25 0.25 Met by 0.00
Q4 FY25 0.24 0.30 Beat by 0.06
Q1 FY26 0.23 0.31 Beat by 0.08
Q2 FY26 0.26 0.27 Beat by 0.01
Q3 FY26 0.34 — Reports 5 November 2026

EPS $

Mar Jun Sep Dec Year
’26 0.12 0.10 0.16 — —
’25 (0.08) 0.03 0.03 0.00 (0.02)
’24 (0.01) 0.04 0.06 0.01 0.10
’23 0.01 0.17 (0.13) 0.02 0.08
’22 (0.11) (0.03) 0.04 0.01 (0.09)
’21 (0.21) (0.12) (0.06) (0.19) (0.58)
’20 (0.02) (0.11) (0.08) (0.91) (1.17)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 60 62 68 — —
’25 48 52 57 62 219
’24 41 42 46 50 179
’23 41 42 42 41 166
’22 33 35 40 41 149
’21 24 27 30 30 111
’20 21 21 23 22 88
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 2 16 14 — —
’25 9 (5) 3 17 24
’24 (2) 1 9 2 10
’23 (1) (6) 19 2 15
’22 3 4 1 24 32
’21 (8) 8 4 0 4
’20 5 5 0 11 22
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (9) 2 14 — —
’25 0 (17) (3) 8 (8)
’24 (4) 7 (32) (4) (8)
’23 (4) (9) 16 0 3
’22 1 1 (1) 23 24
’21 (9) 8 2 (1) 0
’20 3 3 (1) 9 15
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.4
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 107 102 86 86 88 111 149 166 179 219 252 +8.2% 264 318 380 +20.2%
Gross margin, % 58.64 53.35 50.11 60.89 58.24 60.21 67.75 68.79 69.83 72.32 71.64 +13.7 pt
EBT 13 0 (9) (7) (18) (18) 0 5 7 3 21 (14.4%)
EBT margin, % 12.06 (0.07) (11.03) (8.60) (20.51) (16.49) 0.32 2.94 3.67 1.46 8.49 (10.6) pt
Net income 9 (1) (8) (5) (40) (21) (3) 3 4 (1) 16 n/m
Per share, $
Per share, $ Revenue 3.43 3.18 2.67 2.64 2.56 2.99 3.98 4.36 4.65 5.57 5.98 +5.6%
Earnings 0.29 (0.04) (0.24) (0.17) (1.17) (0.58) (0.09) 0.08 0.11 (0.02) 0.38 n/m
Cash flow 0.06 0.33 0.41 0.76 0.63 0.11 0.87 0.38 0.25 0.61 1.17 +28.6%
Capex (0.36) (0.32) (0.41) (0.33) (0.20) (0.11) (0.23) (0.30) (0.46) (0.82) 0.00 +9.6%
Free cash flow (0.30) 0.01 0.01 0.43 0.43 0.01 0.64 0.09 (0.21) (0.21) 1.17 (3.9%)
Book value 6.34 6.19 6.21 6.05 6.81 5.91 5.63 6.02 6.37 6.89 9.08 +0.9%
Shares, m 31 32 32 32 34 37 37 38 39 39 41 +2.5%
Valuation, ×
Valuation, × P/E 77.52 0.00 0.00 0.00 0.00 0.00 0.00 387.38 259.88 0.00 90.76 72.5
P/S 6.56 5.16 3.16 6.40 8.45 10.63 7.00 7.10 5.82 5.12 5.77 6.5
P/B 3.55 2.65 1.36 2.79 3.17 5.38 4.95 5.15 4.25 4.14 3.80 3.7
EV/Sales 5.48 4.16 2.04 5.37 6.90 9.43 6.11 6.31 5.21 5.23 5.57 5.6
EV/FCF (63.40) 1,462.61 788.72 32.72 41.00 5,512.67 38.06 339.95 (27.78) (31.24) (72.33) 809.3
Cash, $m
Cash, $m Operating cash flow 2 11 13 25 22 4 32 15 10 24 49 +31.8%
Capex (11) (10) (13) (11) (7) (4) (9) (11) (18) (32) (40) +12.4%
Free cash flow (9) 0 0 14 15 0 24 3 (8) (8) 49 (1.4%)
Balance, $m
Balance, $m Working capital 152 144 138 120 151 145 135 147 145 92 179 (5.4%)
Net debt (117) (101) (96) (88) (137) (133) (132) (136) (115) 25 65 n/m
Shareholders’ equity 199 198 200 196 235 220 210 229 246 271 383 +3.5%
Returns, %
Returns, % ROA 4.40 (0.60) (3.43) (2.33) (15.31) (7.66) (1.24) 1.09 1.34 (0.17) 3.35 (4.6) pt
ROIC 9.88 0.12 (6.00) (4.42) (10.75) (13.75) (1.67) (0.10) 0.45 1.24 3.22 (8.6) pt
ROE 4.88 (0.67) (3.88) (2.74) (18.74) (9.46) (1.60) 1.41 1.71 (0.25) 4.90 (5.1) pt
People
People Employees 441 417 365 353 423 407 458 493 539 600 — +3.5%
Revenue/emp, $m 0.24 0.24 0.24 0.24 0.21 0.27 0.32 0.34 0.33 0.37 — +4.6%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

PDF Solutions, Inc. vs peers in Software Application (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
WLTH Wealthfront Corporation $1.7B — (loss-making) 28.3× +0.82% (above 0%: growing) −86.01% (below 0%: shrinking) +22.17% (above 0%: growing) 88.28% 18.27% Compare
DFIN Donnelley Financial Solutions $1.6B 17.4× 16.8× +5.53% (above 0%: growing) n/m +44.93% (above 0%: growing) 64.76% 17.62% Compare
ADEA Adeia Inc. $1.6B 13.8× 31.7× −8.18% (below 0%: shrinking) −74.37% (below 0%: shrinking) −75.31% (below 0%: shrinking) 100.00% 11.28% Compare
CXM Sprinklr, Inc. $1.6B 68.2× 57.4× +0.80% (above 0%: growing) −40.00% (below 0%: shrinking) −55.52% (below 0%: shrinking) 65.12% 4.66% Compare
EVCM EverCommerce Inc. $1.5B 46.1× 39.3× +2.70% (above 0%: growing) +25.00% (above 0%: growing) +3.41% (above 0%: growing) 78.61% 11.49% Compare
PDFS PDF Solutions, Inc. $1.5B 90.8× 88.2× +19.64% (above 0%: growing) +433.33% (above 0%: growing) +552.90% (above 0%: growing) 72.79% 12.13%
BTDR Bitdeer Technologies Group $1.4B — (loss-making) — (loss-making) +47.05% (above 0%: growing) n/m +5.54% (above 0%: growing) (3.73%) (44.47%) Compare
LSPD Lightspeed Commerce Inc. $1.4B — (loss-making) — (loss-making) +5.82% (above 0%: growing) n/m −23,170.13% (below 0%: shrinking) 42.94% (1.72%) Compare
IBTA Ibotta, Inc. $1.4B — (loss-making) — (loss-making) +17.49% (above 0%: growing) n/m +58.39% (above 0%: growing) 79.85% 4.83% Compare
Median of peers $1.5B 31.7× 31.7× +4.12% −57.18% +4.48% 71.87% 8.06%

All 230 Software Application stocks →

Pay and ownership Proxy statement filed 29 April 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 693.99k 693.99k 132.00
2024 589.68k 589.68k 125.00
2023 595.92k 595.92k 149.00
2022 654.62k 654.62k 132.00
2021 409.11k 409.11k 147.00

Ownership

Directors and executive officers, together 11.08%
BlackRock, Inc. 12.13%
Advantest America, Inc. 8.28%
John K. Kibarian 6.42%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

PDF Solutions, Inc. (PDFS) Latest News

6 Nov

Impact 3 · · MarketBeat transcript
Impact 3 · · The Motley Fool transcript
Impact 3 · · GuruFocus.com

5 Nov

Impact 3 · · Associated Press
Impact 3 · · GlobeNewswire

26 Oct

Impact 3 · · Zacks

20 Oct

Impact 3 · · Simply Wall St.

19 Oct

Impact 3 · · GlobeNewswire

15 Oct

Impact 3 · · Zacks

7 Oct

Impact 4 · · Simply Wall St.

30 Sep

Impact 3 · · Zacks

21 Sep

Impact 4 · · Zacks

14 Sep

Impact 3 ·

9 Sep

Impact 4 ·

4 Sep

Impact 4 ·

12 Aug

Impact 3 ·

7 Aug

Impact 4 · transcript
Impact 3 · · MarketBeat

6 Aug

Impact 3 ·

23 May

Impact 3 · · Insider Monkey

14 May

Impact 4 · · Simply Wall St.
Impact 4 · · GlobeNewswire

13 May

Impact 4 · · GlobeNewswire

8 May

Impact 4 · · MarketBeat
Impact 4 · · Moby

7 May

Impact 4 · · The Motley Fool transcript
Impact 4 · · Zacks
Impact 4 · · GlobeNewswire
Impact 3 ·

23 Feb

Impact 3 · · Insider Monkey
stockrow.com/PDFS · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com