PUBM - PubMatic, Inc.
Price:
--
--
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CONSENSUS:
Buy
DETAILS
|
PRICE TARGET:
$13.50
DETAILS
HIGH:
$14.00
LOW:
$13.00
MEDIAN:
$13.50
CONSENSUS:
$13.50
UPSIDE:
30.31%
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | ||||||||
| Revenue | 282.9 | 291.3 | 267.0 | 256.4 | 226.9 | 148.7 | 113.9 | 99.3 |
| Cost of Revenue | 103.1 | 101.0 | 99.2 | 81.5 | 58.3 | 41.2 | 36.1 | 31.2 |
| Gross Profit | 179.8 | 190.2 | 167.8 | 174.9 | 168.6 | 107.6 | 77.8 | 68.0 |
| Operating Expenses | ||||||||
| R&D Expenses | 33.8 | 33.3 | 26.7 | 20.8 | 15.9 | 12.2 | 12.5 | 12.6 |
| SG&A Expenses | 163.3 | 153.0 | 139.0 | 113.5 | 93.9 | 63.6 | 56.8 | 50.4 |
| Other Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (0.2) |
| Operating Expenses | 197.1 | 186.3 | 165.7 | 134.3 | 109.8 | 75.8 | 69.3 | 63.1 |
| Operating Income | ||||||||
| Operating Income | (17.3) | 3.9 | 2.0 | 40.5 | 58.8 | 31.8 | 8.5 | 5.0 |
| Interest Expense | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 0 | 8.5 | 8.8 | 2.2 | 0.3 | 0.5 | 1.3 | 0.9 |
| Profitability | ||||||||
| EBITDA | 27.8 | 49.3 | 46.8 | 77.5 | 74.5 | 47.5 | 21.8 | 12.3 |
| EBIT | (16.0) | 3.9 | 2.0 | 37.5 | 58.8 | 31.8 | 9.2 | 5.6 |
| Income Before Tax | (16.0) | 17.8 | 10.5 | 37.5 | 64.8 | 31.6 | 9.2 | 5.6 |
| Income Tax Expense | (1.5) | 5.3 | 1.6 | 8.8 | 8.2 | 5.0 | 2.6 | 1.2 |
| Net Income | (14.5) | 12.5 | 8.9 | 28.7 | 56.6 | 26.6 | 6.6 | 4.4 |
| Per Share Data | ||||||||
| EPS (Basic) | -0.31 | 0.25 | 0.17 | 0.55 | 1.13 | 0.55 | 0.14 | 0.09 |
| EPS (Diluted) | -0.31 | 0.23 | 0.16 | 0.50 | 1.00 | 0.55 | 0.14 | 0.09 |
| Shares Outstanding | 47.0 | 49.2 | 51.8 | 52.3 | 50.2 | 48.1 | 47.8 | 47.5 |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|
| Current Assets | ||||||||
| Cash & Cash Equivalents | 145.5 | 100.5 | 78.5 | 92.4 | 82.5 | 81.2 | 34.2 | 21.2 |
| Short-Term Investments | 0 | 40.1 | 96.8 | 82.0 | 77.1 | 19.8 | 21.2 | 14.3 |
| Net Receivables | 358.2 | 424.8 | 375.5 | 314.3 | 286.9 | 219.5 | 117.7 | 109.3 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Assets | 18.9 | 10.1 | 11.1 | 14.8 | 0 | 0 | 0 | 0 |
| Total Current Assets | 522.6 | 575.5 | 562.0 | 503.5 | 460.7 | 327.1 | 177.6 | 149.9 |
| Non-Current Assets | ||||||||
| Property, Plant & Equipment | 90.8 | 102.9 | 81.8 | 97.4 | 71.8 | 30.0 | 20.3 | 18.8 |
| Goodwill | 29.6 | 29.6 | 29.6 | 29.6 | 6.2 | 6.2 | 6.2 | 6.2 |
| Intangible Assets | 2.7 | 4.3 | 5.9 | 8.3 | 0 | 0 | 0 | 0.3 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 3.5 | 2.3 | 2.1 | 2.4 | 10.9 | 7.1 | 1.1 | 0.6 |
| Total Non-Current Assets | 157.5 | 164.0 | 133.3 | 138.7 | 89.5 | 44.1 | 29.8 | 28.3 |
| Total Assets | 680.2 | 739.5 | 695.2 | 642.2 | 550.2 | 371.2 | 207.4 | 178.2 |
| Current Liabilities | ||||||||
| Account Payables | 343.6 | 386.6 | 347.7 | 277.4 | 244.3 | 176.7 | 99.4 | 81.9 |
| Short-Term Debt | 7.0 | 0 | 6.4 | 0 | 4.0 | 0 | 0 | 0 |
| Deferred Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 25.3 | 20.0 | 12.4 | 0.1 | 13.3 | 0 | 10.0 | 0 |
| Total Current Liabilities | 375.9 | 418.8 | 379.6 | 302.0 | 267.0 | 191.6 | 110.5 | 90.5 |
| Non-Current Liabilities | ||||||||
| Long-Term Debt | 36.9 | 0 | 0 | 0 | 0 | 1.6 | 0 | 0.3 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0.6 | 6.1 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 4.8 | 3.9 | 3.4 | 6.5 | 2.2 | 2.7 | 64.6 | 63.8 |
| Total Non-Current Liabilities | 41.8 | 43.4 | 19.5 | 28.0 | 26.1 | 4.2 | 64.6 | 64.1 |
| Total Liabilities | 417.6 | 462.3 | 399.0 | 330.0 | 293.0 | 195.8 | 175.1 | 154.6 |
| Stockholders' Equity | ||||||||
| Common Stock | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 19.0 | 19.0 |
| Retained Earnings | 134.9 | 149.4 | 136.9 | 128 | 99.3 | 42.7 | 16.1 | 9.4 |
| Accumulated Other Comprehensive Income | 0.1 | (0.6) | (0.0) | (0.0) | (0.0) | 0.0 | 0.0 | (40.2) |
| Total Stockholders' Equity | 262.6 | 277.3 | 296.2 | 312.2 | 257.2 | 175.4 | 32.3 | 23.6 |
| Total Liabilities & Equity | 680.2 | 739.5 | 695.2 | 642.2 | 550.2 | 371.2 | 207.4 | 178.2 |
| Debt Metrics | ||||||||
| Total Debt | 43.9 | 45.4 | 28.2 | 26.6 | 25.7 | 1.6 | 0 | 0.3 |
| Net Debt | (101.7) | (55.1) | (50.3) | (65.8) | (56.8) | (79.6) | (34.2) | (20.9) |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | (14.5) | 12.5 | 8.9 | 28.7 | 56.6 | 26.6 | 6.6 | 4.4 |
| Depreciation & Amortization | 43.8 | 45.4 | 44.8 | 34.2 | 23.1 | 15.7 | 12.7 | 12.3 |
| Stock-Based Compensation | 38.4 | 37.7 | 28.9 | 20.6 | 14.1 | 3.6 | 2.0 | 3.2 |
| Change in Working Capital | 22.4 | (13.8) | 4.2 | (0.5) | (6.5) | (24.9) | 9.6 | (4.7) |
| Other Non-Cash Items | 5.5 | 2.7 | 7.8 | 11.3 | (3.4) | 0.4 | 4.1 | 0.4 |
| Operating Cash Flow | 81.1 | 73.4 | 81.1 | 87.2 | 88.7 | 24.3 | 35.1 | 15.6 |
| Investing Activities | ||||||||
| Capital Expenditure | (14.3) | (38.5) | (28.3) | (48.9) | (39.4) | (31.4) | (15.0) | (9.7) |
| Acquisitions | 0 | 0 | 0 | (28.1) | 0 | 0 | (0.5) | 4.5 |
| Purchases of Investments | (26.0) | (142.0) | (140.6) | (137.8) | (90.6) | (36.7) | (38.0) | (27.0) |
| Sales/Maturities of Investments | 67.0 | 202.9 | 129.9 | 133.4 | 33.2 | 38.2 | 31.0 | 23.9 |
| Other Investing Activities | (20.5) | (20.9) | (17.7) | (13.0) | (8.9) | (7.2) | 0.5 | (4.5) |
| Investing Cash Flow | 6.1 | 22.3 | (39.0) | (81.4) | (96.7) | (29.9) | (22.1) | (12.7) |
| Financing Activities | ||||||||
| Net Debt Issuance | (0.1) | (0.1) | (0.1) | (0.1) | (0.0) | 0 | 0 | (3) |
| Stock Repurchased | (46.5) | (75.3) | (59.3) | 0 | (0.9) | (0.0) | (0.0) | (0.3) |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing Activities | 0 | 2.0 | 3.4 | 4.2 | 10.2 | 6.7 | 0.0 | (4.0) |
| Financing Cash Flow | (42.7) | (73.5) | (56.0) | 4.0 | 9.4 | 52.5 | (0.0) | (8.0) |
| Cash Position | ||||||||
| Net Change in Cash | 45.1 | 21.9 | (13.9) | 9.9 | 1.3 | 46.9 | 13.0 | (5.1) |
| Cash at Beginning | 100.5 | 78.5 | 92.4 | 82.5 | 81.2 | 34.2 | 21.2 | 26.4 |
| Cash at End | 145.5 | 100.5 | 78.5 | 92.4 | 82.5 | 81.2 | 34.2 | 21.2 |
| Free Cash Flow | 66.7 | 34.9 | 52.8 | 38.3 | 49.3 | (7.1) | 20.1 | 5.9 |
| Key Metrics | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|
| Income Statement | ||||||||
| Revenue | 282.9 | 291.3 | 267.0 | 256.4 | 226.9 | 148.7 | 113.9 | 99.3 |
| Gross Profit | 179.8 | 190.2 | 167.8 | 174.9 | 168.6 | 107.6 | 77.8 | 68.0 |
| Operating Income | (17.3) | 3.9 | 2.0 | 40.5 | 58.8 | 31.8 | 8.5 | 5.0 |
| Net Income | (14.5) | 12.5 | 8.9 | 28.7 | 56.6 | 26.6 | 6.6 | 4.4 |
| EPS (Diluted) | -0.31 | 0.23 | 0.16 | 0.50 | 1.00 | 0.55 | 0.14 | 0.09 |
| Balance Sheet | ||||||||
| Cash & Equivalents | 145.5 | 100.5 | 78.5 | 92.4 | 82.5 | 81.2 | 34.2 | 21.2 |
| Total Assets | 680.2 | 739.5 | 695.2 | 642.2 | 550.2 | 371.2 | 207.4 | 178.2 |
| Total Debt | 43.9 | 45.4 | 28.2 | 26.6 | 25.7 | 1.6 | 0 | 0.3 |
| Stockholders' Equity | 262.6 | 277.3 | 296.2 | 312.2 | 257.2 | 175.4 | 32.3 | 23.6 |
| Cash Flow | ||||||||
| Operating Cash Flow | 81.1 | 73.4 | 81.1 | 87.2 | 88.7 | 24.3 | 35.1 | 15.6 |
| Capital Expenditure | (14.3) | (38.5) | (28.3) | (48.9) | (39.4) | (31.4) | (15.0) | (9.7) |
| Free Cash Flow | 66.7 | 34.9 | 52.8 | 38.3 | 49.3 | (7.1) | 20.1 | 5.9 |