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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. In the quarter to June 2026, revenue grew 19.0%, EPS grew 233.3%, free cash flow grew 113.9% and total debt fell 2.35%, each against the same quarter a year earlier. Revenue growth for five consecutive years.

39.23 2.04 −4.94%
Market cap
$1.7B
P/E
157×
Fwd P/E
107×
Dividend yield
—
F-score
4/9
Altman Z
5.07
Beneish M
−2.40
Dividend safety
n/a
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total sells 0.23
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — 2 — —
Insider Ownership 7.92%

Capital & Financial Ratios $m

Market Cap 1,740.00
Revenue 241.18
Net Income 10.31
Free Cash Flow (1.35)
Net Debt (48.37)
Current Ratio 3.45 (at or above 1.5: strong)
Debt/Equity 0.18 (at or below 0.5: strong)
P/E ratio 156.92 (above 35: high)
Fwd P/E 107.00 (above 35: high)
P/S ratio 6.66
P/B ratio 4.31
Past 5Y EPS Growth —
This Y EPS Growth 37.58% (at or above 15%: strong)
Next Y EPS Growth 27.77% (at or above 15%: strong)
Next Y revenue growth 20.44% (at or above 10%: strong)
Next 5Y EPS Growth 29.68% (at or above 15%: strong)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 6.5×, 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 44.90%
10-year low 10-year high
P/S against its own 10 years 53.96%
10-year low 10-year high
P/B against its own 10 years 65.61%
10-year low 10-year high
EV/Sales against its own 10 years 69.48%
10-year low 10-year high

Dividends

Payout Ratio —
Annual Dividend Rate —
Annual Dividend Yield —
total individual payouts
2023 Powerpack
2022 Powerpack
2021 Powerpack
2020 Powerpack
2019 Powerpack
2017 Powerpack
special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 136 115 42 115
Receivables 45 74 83 91
Inventory — — — —
Other — — — —
198 206 164 253
2023 2024 2025 Q'26
Payables 3 8 17 12
ST’ Debt — — 2 3
Other — — — —
51 61 72 73

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%

Revenue $m

Mar Jun Sep Dec Year
’26 60 62 — — —
’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 — — —
’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 — — —
’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.

EPS $

Mar Jun Sep Dec Year
’26 0.12 0.10 — — —
’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.

Target Price Range

Analyst price targets

Recommendation Rating

1.4
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 8.70 14.11 7.56 8.24 8.61 16.44 19.34 26.12 26.94 15.91

Analyst estimates 2026–2028

Powerpack
High 24.44 23.93 16.76 17.42 26.42 33.78 32.80 48.02 39.70 32.31
People
People Employees 441 417 365 353 423 407 458 493 539 600
Revenue/emp, $m 0.24 0.24 0.24 0.24 0.21 0.27 0.32 0.34 0.33 0.37
Income, $m
Income, $m Revenue 107 102 86 86 88 111 149 166 179 219
Gross margin, % 58.64 53.35 50.11 60.89 58.24 60.21 67.75 68.79 69.83 72.32
EBT 13 0 (9) (7) (18) (18) 0 5 7 3
EBT margin, % 12.06 (0.07) (11.03) (8.60) (20.51) (16.49) 0.32 2.94 3.67 1.46
Net income 9 (1) (8) (5) (40) (21) (3) 3 4 (1)
Depreciation 4 6 6 8 9 10 11 11 10 14
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
Earnings 0.29 (0.04) (0.24) (0.17) (1.17) (0.58) (0.09) 0.08 0.11 (0.02)
Cash flow 0.06 0.33 0.41 0.76 0.63 0.11 0.87 0.38 0.25 0.61
Capex (0.36) (0.32) (0.41) (0.33) (0.20) (0.11) (0.23) (0.30) (0.46) (0.82)
Free cash flow (0.30) 0.01 0.01 0.43 0.43 0.01 0.64 0.09 (0.21) (0.21)
Book value 6.34 6.19 6.21 6.05 6.81 5.91 5.63 6.02 6.37 6.89
Shares, m 31 32 32 32 34 37 37 38 39 39
Valuation, ×
Valuation, × P/E 77.52 0.00 0.00 0.00 0.00 0.00 0.00 387.38 259.88 0.00
P/S 6.56 5.16 3.16 6.40 8.45 10.63 7.00 7.10 5.82 5.12
P/B 3.55 2.65 1.36 2.79 3.17 5.38 4.95 5.15 4.25 4.14
EV/Sales 5.48 4.16 2.04 5.37 6.90 9.43 6.11 6.31 5.21 5.23
EV/FCF (63.40) 1,462.61 788.72 32.72 41.00 5,512.67 38.06 339.95 (27.78) (31.24)
Cash, $m
Cash, $m Operating cash flow 2 11 13 25 22 4 32 15 10 24
Capex (11) (10) (13) (11) (7) (4) (9) (11) (18) (32)
Free cash flow (9) 0 0 14 15 0 24 3 (8) (8)
Balance, $m
Balance, $m Working capital 152 144 138 120 151 145 135 147 145 92
Total debt — — — 10 8 7 7 — — 67
Net debt (117) (101) (96) (88) (137) (133) (132) (136) (115) 25
Shareholders’ equity 199 198 200 196 235 220 210 229 246 271
Returns, %
Returns, % ROA 4.40 (0.60) (3.43) (2.33) (15.31) (7.66) (1.24) 1.09 1.34 (0.17)
ROIC 9.88 0.12 (6.00) (4.42) (10.75) (13.75) (1.67) (0.10) 0.45 1.24
ROE 4.88 (0.67) (3.88) (2.74) (18.74) (9.46) (1.60) 1.41 1.71 (0.25)
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

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
SOUN SoundHound AI, Inc. $2.2B — (loss-making) — (loss-making) +45.02% (above 0%: growing) n/m −49.37% (below 0%: shrinking) 45.12% (69.95%) Compare
AMPL Amplitude, Inc. $2.0B — (loss-making) — (loss-making) +21.16% (above 0%: growing) n/m +30.66% (above 0%: growing) 68.50% (34.87%) Compare
KARO Karooooo Ltd. $1.9B 30.6× 20.0× +35.78% (above 0%: growing) +25.53% (above 0%: growing) −7.21% (below 0%: shrinking) 68.35% 26.20% Compare
BL BlackLine $1.8B 75.7× 31.2× +9.18% (above 0%: growing) +21.77% (above 0%: growing) +43.65% (above 0%: growing) 75.96% 5.85% Compare
WLTH Wealthfront Corporation $1.8B — (loss-making) 26.4× +0.82% (above 0%: growing) −86.01% (below 0%: shrinking) +22.17% (above 0%: growing) 88.28% 18.27% Compare
PDFS PDF Solutions, Inc. $1.7B 157× 107× +18.95% (above 0%: growing) +233.33% (above 0%: growing) +113.90% (above 0%: growing) 68.95% 8.23%
EVCM EverCommerce Inc. $1.7B 52.4× 41.5× +2.70% (above 0%: growing) +25.00% (above 0%: growing) +3.41% (above 0%: growing) 78.61% 11.49% Compare
ALKT Alkami Technology, Inc. $1.5B — (loss-making) — (loss-making) +15.87% (above 0%: growing) n/m +2,071.76% (above 0%: growing) 56.85% (5.93%) Compare
LSPD Lightspeed Commerce Inc. $1.5B — (loss-making) — (loss-making) +5.82% (above 0%: growing) n/m −23,170.13% (below 0%: shrinking) 42.94% (1.72%) Compare
Median of peers $1.8B 52.4× 28.8× +12.53% +23.39% +12.79% 68.43% 2.07%

All 237 Software Application stocks →

PDF Solutions, Inc. (PDFS) key facts

  • Strength: PDF Solutions, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $219.0 million, up 22.0% from fiscal 2024.
  • PDF Solutions, Inc. (PDFS) is a Software Application company in the Technology sector, listed on Nasdaq.
  • As of October 16, 2026, PDFS traded at $39.23, a market capitalization of $1.7 billion.
  • Return on equity was −0.25% and debt-to-equity 0.18.
  • Its Piotroski F-score is 4 out of 9 and its Altman Z-score is 5.07 (safe zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

PDF Solutions, Inc. (PDFS) Latest News

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stockrow.com/PDFS · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com