PubMatic, Inc. (PUBM) 10-Year Financial Performance & Capital Metrics

PUBM • • Industrial / General

TechnologyApplication SoftwareMarketing & Customer EngagementDigital Advertising

AboutPubMatic, Inc. provides a cloud infrastructure platform that enables real-time programmatic advertising transactions for Internet content creators and advertisers worldwide. The company's solutions include Openwrap, a header bidding solution that provides enterprise-grade management and analytics tools; Openwrap OTT, a header bidding management solution for OTT; Openwrap SDK, a header bidding solution for in-app developers; private marketplace solutions; and media buyer consoles. In addition, it offers Real-Time Bidding (RTB) programmatic technologies, which provides various selling options across screens and ad formats; digital advertising inventory quality solutions to detect and filter out invalid traffic and other nefarious activity; Ad quality solutions targeting the reduction of security issues, quality issues, and performance issues; Identity Hub, an identity solution that allows for the use of any advertiser preferred user identifier in a scaled and privacy-compliant fashion; Audience Encore, an audience data platform; and cross-platform video, a sell side platform, which connects trusted video buyers to premium publishers. The company's platform supports an array of ad formats and digital device types, including mobile app, mobile web, desktop, display, video, over-the-top (OTT), connected television, and media. PubMatic, Inc. was incorporated in 2006 and is based in Redwood City, California.Show more

Revenue $291M +9.1%
EBITDA $49M +5.3%
Net Income $13M +40.8%
EPS (Diluted) 0.23 +43.8%
Gross Margin 65.31% +3.9%
EBITDA Margin 16.92% -3.5%
Operating Margin 1.35% +76.8%
Net Margin 4.29% +29.1%
ROE 4.36% +49.4%
ROIC 1.26% +102.8%
Debt/Equity 0.16 +71.8%
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong Piotroski F-Score: 7/9
✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 20.7%
✓Share count reduced 3.1% through buybacks
✓Healthy 5Y average net margin of 12.3%

✗Weaknesses

✗Weak momentum: RS Rating 17 (bottom 17%)
✗Trading more than 30% below 52-week high

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-

5Y20.66%

3Y8.68%

TTM-0.68%

Profit (Net Income) CAGR

10Y-

5Y13.48%

3Y-39.55%

TTM-141.87%

EPS CAGR

10Y-

5Y10.44%

3Y-38.73%

TTM-161.71%

ROCE

10Y Avg11.16%

5Y Avg12.64%

3Y Avg4.95%

Latest1.23%

Peer Comparison

Digital Advertising

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
SEMRSemrush Holdings, Inc.	1.54B	11.88	214.83	22.47%	-1.05%	-1.51%	2.8%	0.05
APPAppLovin Corporation	186.71B	606.99	133.99	43.44%	51.28%	192.05%	1.12%	3.26
DSPViant Technology Inc.	199.15M	11.94	99.50	29.74%	1.85%	2.32%	24.74%	0.09
VTEXVtex	327.46M	3.37	54.01	12.5%	7.03%	6.81%	7.69%	0.01
TTDThe Trade Desk, Inc.	15.95B	36.23	46.45	25.63%	15.72%	16.86%	3.96%	0.11
PUBMPubMatic, Inc.	299.11M	7.84	34.09	9.08%	-2.51%	-2.96%	11.67%	0.16
DVDoubleVerify Holdings, Inc.	1.7B	10.56	33	14.72%	6.1%	4.16%	7.79%	0.08
MTCHMatch Group, Inc.	7.46B	31.60	15.64	3.41%	16.2%		11.83%

Profit & Loss

	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	99.26M	113.87M	148.75M	226.91M	256.38M	267.01M	291.26M
Revenue Growth %	-	0.15%	0.31%	0.53%	0.13%	0.04%	0.09%
Cost of Goods Sold+	31.23M	36.1M	41.19M	58.31M	81.51M	99.23M	101.03M
COGS % of Revenue	0.31%	0.32%	0.28%	0.26%	0.32%	0.37%	0.35%
Gross Profit+	68.03M	77.77M	107.56M	168.59M	174.87M	167.78M	190.23M
Gross Margin %	0.69%	0.68%	0.72%	0.74%	0.68%	0.63%	0.65%
Gross Profit Growth %	-	0.14%	0.38%	0.57%	0.04%	-0.04%	0.13%
Operating Expenses+	63.06M	69.26M	75.81M	109.81M	134.35M	165.75M	186.3M
OpEx % of Revenue	0.64%	0.61%	0.51%	0.48%	0.52%	0.62%	0.64%
Selling, General & Admin	50.44M	56.8M	63.56M	93.92M	113.5M	139.02M	153.04M
SG&A % of Revenue	0.51%	0.5%	0.43%	0.41%	0.44%	0.52%	0.53%
Research & Development	12.62M	12.45M	12.25M	15.88M	20.85M	26.73M	33.26M
R&D % of Revenue	0.13%	0.11%	0.08%	0.07%	0.08%	0.1%	0.11%
Other Operating Expenses	-215K	0	0	0	0	0	0
Operating Income+	4.97M	8.51M	31.75M	58.79M	40.52M	2.04M	3.93M
Operating Margin %	0.05%	0.07%	0.21%	0.26%	0.16%	0.01%	0.01%
Operating Income Growth %	-	0.71%	2.73%	0.85%	-0.31%	-0.95%	0.93%
EBITDA+	17.27M	21.11M	47.5M	74.46M	80.6M	46.81M	49.28M
EBITDA Margin %	0.17%	0.19%	0.32%	0.33%	0.31%	0.18%	0.17%
EBITDA Growth %	-	0.22%	1.25%	0.57%	0.08%	-0.42%	0.05%
D&A (Non-Cash Add-back)	12.3M	12.6M	15.74M	15.67M	40.08M	44.77M	45.35M
EBIT	5.63M	9.22M	31.75M	58.79M	37.47M	2.04M	3.93M
Net Interest Income+	877K	1.29M	537K	300K	2.21M	8.83M	8.48M
Interest Income	877K	1.29M	537K	300K	2.21M	8.83M	8.48M
Interest Expense	0	0	0	0	0	0	0
Other Income/Expense	662K	713K	-175K	6.01M	-3.05M	8.47M	13.85M
Pretax Income+	5.63M	9.22M	31.58M	64.8M	37.47M	10.51M	17.77M
Pretax Margin %	0.06%	0.08%	0.21%	0.29%	0.15%	0.04%	0.06%
Income Tax+	1.21M	2.58M	4.97M	8.2M	8.76M	1.62M	5.27M
Effective Tax Rate %	0.79%	0.72%	0.84%	0.87%	0.77%	0.85%	0.7%
Net Income+	4.42M	6.64M	26.61M	56.6M	28.7M	8.88M	12.5M
Net Margin %	0.04%	0.06%	0.18%	0.25%	0.11%	0.03%	0.04%
Net Income Growth %	-	0.5%	3.01%	1.13%	-0.49%	-0.69%	0.41%
Net Income (Continuing)	4.42M	6.64M	26.61M	56.6M	28.7M	8.88M	12.5M
Discontinued Operations	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0
EPS (Diluted)+	0.09	0.14	0.55	1.00	0.50	0.16	0.23
EPS Growth %	-	0.5%	2.93%	0.82%	-0.5%	-0.68%	0.44%
EPS (Basic)	0.09	0.14	0.55	1.13	0.55	0.17	0.25
Diluted Shares Outstanding	47.52M	47.83M	48.09M	56.63M	56.91M	56.03M	54.29M
Basic Shares Outstanding	47.52M	47.83M	48.09M	50.18M	52.28M	51.76M	49.21M
Dividend Payout Ratio	-	-	-	-	-	-	-

Balance Sheet

	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	149.91M	177.64M	327.11M	460.75M	503.48M	561.96M	575.55M
Cash & Short-Term Investments	35.51M	55.45M	100.98M	159.63M	174.4M	175.34M	140.59M
Cash Only	21.21M	34.25M	81.19M	82.5M	92.38M	78.51M	100.45M
Short-Term Investments	14.29M	21.2M	19.79M	77.12M	82.01M	96.83M	40.13M
Accounts Receivable	109.29M	117.66M	219.51M	286.92M	314.3M	375.47M	424.81M
Days Sales Outstanding	401.88	377.13	538.64	461.53	447.46	513.25	532.37
Inventory	0	0	0	0	0	0	0
Days Inventory Outstanding	-	-	-	-	-	-	-
Other Current Assets	0	0	0	0	14.78M	11.14M	10.14M
Total Non-Current Assets+	28.32M	29.8M	44.13M	89.47M	138.7M	133.29M	163.97M
Property, Plant & Equipment	18.77M	20.33M	30.04M	71.75M	97.36M	81.83M	102.92M
Fixed Asset Turnover	5.29x	5.60x	4.95x	3.16x	2.63x	3.26x	2.83x
Goodwill	6.25M	6.25M	6.25M	6.25M	29.58M	29.58M	29.58M
Intangible Assets	337K	0	0	0	8.3M	5.86M	4.28M
Long-Term Investments	0	0	0	0	0	0	0
Other Non-Current Assets	632K	1.08M	7.08M	10.95M	2.41M	2.14M	2.32M
Total Assets+	178.22M	207.44M	371.25M	550.22M	642.17M	695.24M	739.52M
Asset Turnover	0.56x	0.55x	0.40x	0.41x	0.40x	0.38x	0.39x
Asset Growth %	-	0.16%	0.79%	0.48%	0.17%	0.08%	0.06%
Total Current Liabilities+	90.46M	110.5M	191.57M	266.96M	302.03M	379.59M	418.81M
Accounts Payable	81.86M	99.38M	176.73M	244.32M	277.41M	347.67M	386.6M
Days Payables Outstanding	956.6	1K	1.57K	1.53K	1.24K	1.28K	1.4K
Short-Term Debt	0	0	0	3.98M	0	6.37M	0
Deferred Revenue (Current)	0	0	0	0	0	0	0
Other Current Liabilities	0	9.99M	0	13.29M	125K	12.41M	19.98M
Current Ratio	1.66x	1.61x	1.71x	1.73x	1.67x	1.48x	1.37x
Quick Ratio	1.66x	1.61x	1.71x	1.73x	1.67x	1.48x	1.37x
Cash Conversion Cycle	-	-	-	-	-	-	-
Total Non-Current Liabilities+	64.12M	64.62M	4.24M	26.07M	27.96M	19.45M	43.45M
Long-Term Debt	276K	0	1.56M	0	0	0	0
Capital Lease Obligations	0	0	0	17.84M	20.91M	15.61M	39.54M
Deferred Tax Liabilities	0	0	0	6.07M	573K	0	0
Other Non-Current Liabilities	63.84M	64.62M	2.68M	2.16M	6.47M	3.36M	3.91M
Total Liabilities	154.57M	175.13M	195.82M	293.04M	329.99M	399.04M	462.26M
Total Debt+	276K	0	1.56M	25.69M	26.59M	28.21M	45.38M
Net Debt	-20.94M	-34.25M	-79.63M	-56.82M	-65.79M	-50.3M	-55.07M
Debt / Equity	0.01x	-	0.01x	0.10x	0.09x	0.10x	0.16x
Debt / EBITDA	0.02x	-	0.03x	0.34x	0.33x	0.60x	0.92x
Net Debt / EBITDA	-1.21x	-1.62x	-1.68x	-0.76x	-0.82x	-1.07x	-1.12x
Interest Coverage	-	-	-	-	-	-	-
Total Equity+	23.65M	32.32M	175.43M	257.18M	312.19M	296.2M	277.26M
Equity Growth %	-	0.37%	4.43%	0.47%	0.21%	-0.05%	-0.06%
Book Value per Share	0.50	0.68	3.65	4.54	5.49	5.29	5.11
Total Shareholders' Equity	23.65M	32.32M	175.43M	257.18M	312.19M	296.2M	277.26M
Common Stock	19.03M	19.03M	6K	6K	6K	6K	6K
Retained Earnings	9.44M	16.08M	42.69M	99.3M	128M	136.88M	149.38M
Treasury Stock	-11.43M	-11.43M	-11.43M	-11.49M	-11.49M	-71.1M	-146.8M
Accumulated OCI	-40.17M	6K	1K	-36K	-9K	-4K	-636K
Minority Interest	0	0	0	0	0	0	0

Cash Flow

	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	15.6M	35.13M	24.33M	88.68M	87.21M	81.12M	73.42M
Operating CF Margin %	0.16%	0.31%	0.16%	0.39%	0.34%	0.3%	0.25%
Operating CF Growth %	-	1.25%	-0.31%	2.64%	-0.02%	-0.07%	-0.09%
Net Income	4.42M	6.64M	26.61M	56.6M	28.7M	8.88M	12.5M
Depreciation & Amortization	12.29M	12.67M	15.74M	23.07M	34.25M	44.77M	45.35M
Stock-Based Compensation	3.17M	2M	3.56M	14.11M	20.65M	28.86M	37.68M
Deferred Taxes	-4K	193K	2.93M	4.75M	-7.17M	-13.41M	-10.98M
Other Non-Cash Items	436K	4.06M	363K	-3.39M	11.29M	7.77M	2.66M
Working Capital Changes	-4.72M	9.56M	-24.89M	-6.46M	-514K	4.24M	-13.78M
Change in Receivables	-24.18M	-11.92M	-102.17M	-67.41M	-24.41M	-75.72M	-49.34M
Change in Inventory	44.28M	2.63M	0	0	0	0	0
Change in Payables	17.56M	18.46M	77.36M	68.3M	29.76M	79.69M	38.1M
Cash from Investing+	-12.75M	-22.09M	-29.88M	-96.72M	-81.37M	-39.02M	22.31M
Capital Expenditures	-9.66M	-14.99M	-24.18M	-30.43M	-35.87M	-10.6M	-17.59M
CapEx % of Revenue	0.1%	0.13%	0.16%	0.13%	0.14%	0.04%	0.06%
Acquisitions	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-
Other Investing	-4.47M	500K	-7.23M	-8.93M	-13.02M	-17.69M	-20.94M
Cash from Financing+	-7.99M	-1K	52.48M	9.36M	4.04M	-55.98M	-73.48M
Debt Issued (Net)	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-
Other Financing	-3.99M	4K	6.68M	10.23M	4.16M	3.42M	1.99M
Net Change in Cash	-	-	-	-	-	-	-
Free Cash Flow+	5.94M	20.13M	-7.07M	49.32M	38.32M	52.83M	34.9M
FCF Margin %	0.06%	0.18%	-0.05%	0.22%	0.15%	0.2%	0.12%
FCF Growth %	-	2.39%	-1.35%	7.97%	-0.22%	0.38%	-0.34%
FCF per Share	0.12	0.42	-0.15	0.87	0.67	0.94	0.64
FCF Conversion (FCF/Net Income)	3.52x	5.29x	0.91x	1.57x	3.04x	9.13x	5.87x
Interest Paid	0	0	0	0	0	0	0
Taxes Paid	769K	3.02M	2.69M	6.79M	9.19M	15.63M	14.18M

Key Ratios

Metric	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	18.71%	23.74%	25.62%	26.17%	10.08%	2.92%	4.36%
Return on Invested Capital (ROIC)	137.44%	1634.25%	50.74%	29.78%	13.6%	0.62%	1.26%
Gross Margin	68.53%	68.29%	72.31%	74.3%	68.21%	62.84%	65.31%
Net Margin	4.46%	5.83%	17.89%	24.95%	11.2%	3.33%	4.29%
Debt / Equity	0.01x	-	0.01x	0.10x	0.09x	0.10x	0.16x
FCF Conversion	3.52x	5.29x	0.91x	1.57x	3.04x	9.13x	5.87x
Revenue Growth	-	14.72%	30.63%	52.55%	12.99%	4.15%	9.08%

Revenue by Segment

	2021	2022	2023	2024
Reportable	-	-	-	291.26M
Reportable Growth	-	-	-	-

Revenue by Geography

	2021	2022	2023	2024
UNITED STATES	139.05M	156.07M	158.11M	176.21M
UNITED STATES Growth	-	12.24%	1.31%	11.45%
EMEA	62.53M	71.87M	84.92M	83.39M
EMEA Growth	-	14.93%	18.16%	-1.81%
Asia Pacific	20.91M	24.84M	19.29M	25M
Asia Pacific Growth	-	18.81%	-22.37%	29.63%
Rest Of The World	4.42M	3.6M	4.7M	6.66M
Rest Of The World Growth	-	-18.52%	30.50%	41.78%

Frequently Asked Questions

Valuation & Price

PubMatic, Inc. (PUBM) has a price-to-earnings (P/E) ratio of 34.1x. This suggests investors expect higher future growth.

Growth & Financials

PubMatic, Inc. (PUBM) reported $288.4M in revenue for fiscal year 2024. This represents a 191% increase from $99.3M in 2018.

PubMatic, Inc. (PUBM) grew revenue by 9.1% over the past year. This is steady growth.

PubMatic, Inc. (PUBM) reported a net loss of $7.2M for fiscal year 2024.

Dividend & Returns

PubMatic, Inc. (PUBM) has a return on equity (ROE) of 4.4%. This is below average, suggesting room for improvement.

PubMatic, Inc. (PUBM) generated $48.2M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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PubMatic, Inc. (PUBM) 10-Year Financial Performance & Capital Metrics

PUBM • • Industrial / General

TechnologyApplication SoftwareMarketing & Customer EngagementDigital Advertising

Revenue $291M +9.1%
EBITDA $49M +5.3%
Net Income $13M +40.8%
EPS (Diluted) 0.23 +43.8%
Gross Margin 65.31% +3.9%
EBITDA Margin 16.92% -3.5%
Operating Margin 1.35% +76.8%
Net Margin 4.29% +29.1%
ROE 4.36% +49.4%
ROIC 1.26% +102.8%
Debt/Equity 0.16 +71.8%
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong Piotroski F-Score: 7/9
✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 20.7%
✓Share count reduced 3.1% through buybacks
✓Healthy 5Y average net margin of 12.3%

✗Weaknesses

✗Weak momentum: RS Rating 17 (bottom 17%)
✗Trading more than 30% below 52-week high

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-

5Y20.66%

3Y8.68%

TTM-0.68%

Profit (Net Income) CAGR

10Y-

5Y13.48%

3Y-39.55%

TTM-141.87%

EPS CAGR

10Y-

5Y10.44%

3Y-38.73%

TTM-161.71%

ROCE

10Y Avg11.16%

5Y Avg12.64%

3Y Avg4.95%

Latest1.23%

Peer Comparison

Digital Advertising

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
SEMRSemrush Holdings, Inc.	1.54B	11.88	214.83	22.47%	-1.05%	-1.51%	2.8%	0.05
APPAppLovin Corporation	186.71B	606.99	133.99	43.44%	51.28%	192.05%	1.12%	3.26
DSPViant Technology Inc.	199.15M	11.94	99.50	29.74%	1.85%	2.32%	24.74%	0.09
VTEXVtex	327.46M	3.37	54.01	12.5%	7.03%	6.81%	7.69%	0.01
TTDThe Trade Desk, Inc.	15.95B	36.23	46.45	25.63%	15.72%	16.86%	3.96%	0.11
PUBMPubMatic, Inc.	299.11M	7.84	34.09	9.08%	-2.51%	-2.96%	11.67%	0.16
DVDoubleVerify Holdings, Inc.	1.7B	10.56	33	14.72%	6.1%	4.16%	7.79%	0.08
MTCHMatch Group, Inc.	7.46B	31.60	15.64	3.41%	16.2%		11.83%

Profit & Loss

	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	99.26M	113.87M	148.75M	226.91M	256.38M	267.01M	291.26M
Revenue Growth %	-	0.15%	0.31%	0.53%	0.13%	0.04%	0.09%
Cost of Goods Sold+	31.23M	36.1M	41.19M	58.31M	81.51M	99.23M	101.03M
COGS % of Revenue	0.31%	0.32%	0.28%	0.26%	0.32%	0.37%	0.35%
Gross Profit+	68.03M	77.77M	107.56M	168.59M	174.87M	167.78M	190.23M
Gross Margin %	0.69%	0.68%	0.72%	0.74%	0.68%	0.63%	0.65%
Gross Profit Growth %	-	0.14%	0.38%	0.57%	0.04%	-0.04%	0.13%
Operating Expenses+	63.06M	69.26M	75.81M	109.81M	134.35M	165.75M	186.3M
OpEx % of Revenue	0.64%	0.61%	0.51%	0.48%	0.52%	0.62%	0.64%
Selling, General & Admin	50.44M	56.8M	63.56M	93.92M	113.5M	139.02M	153.04M
SG&A % of Revenue	0.51%	0.5%	0.43%	0.41%	0.44%	0.52%	0.53%
Research & Development	12.62M	12.45M	12.25M	15.88M	20.85M	26.73M	33.26M
R&D % of Revenue	0.13%	0.11%	0.08%	0.07%	0.08%	0.1%	0.11%
Other Operating Expenses	-215K	0	0	0	0	0	0
Operating Income+	4.97M	8.51M	31.75M	58.79M	40.52M	2.04M	3.93M
Operating Margin %	0.05%	0.07%	0.21%	0.26%	0.16%	0.01%	0.01%
Operating Income Growth %	-	0.71%	2.73%	0.85%	-0.31%	-0.95%	0.93%
EBITDA+	17.27M	21.11M	47.5M	74.46M	80.6M	46.81M	49.28M
EBITDA Margin %	0.17%	0.19%	0.32%	0.33%	0.31%	0.18%	0.17%
EBITDA Growth %	-	0.22%	1.25%	0.57%	0.08%	-0.42%	0.05%
D&A (Non-Cash Add-back)	12.3M	12.6M	15.74M	15.67M	40.08M	44.77M	45.35M
EBIT	5.63M	9.22M	31.75M	58.79M	37.47M	2.04M	3.93M
Net Interest Income+	877K	1.29M	537K	300K	2.21M	8.83M	8.48M
Interest Income	877K	1.29M	537K	300K	2.21M	8.83M	8.48M
Interest Expense	0	0	0	0	0	0	0
Other Income/Expense	662K	713K	-175K	6.01M	-3.05M	8.47M	13.85M
Pretax Income+	5.63M	9.22M	31.58M	64.8M	37.47M	10.51M	17.77M
Pretax Margin %	0.06%	0.08%	0.21%	0.29%	0.15%	0.04%	0.06%
Income Tax+	1.21M	2.58M	4.97M	8.2M	8.76M	1.62M	5.27M
Effective Tax Rate %	0.79%	0.72%	0.84%	0.87%	0.77%	0.85%	0.7%
Net Income+	4.42M	6.64M	26.61M	56.6M	28.7M	8.88M	12.5M
Net Margin %	0.04%	0.06%	0.18%	0.25%	0.11%	0.03%	0.04%
Net Income Growth %	-	0.5%	3.01%	1.13%	-0.49%	-0.69%	0.41%
Net Income (Continuing)	4.42M	6.64M	26.61M	56.6M	28.7M	8.88M	12.5M
Discontinued Operations	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0
EPS (Diluted)+	0.09	0.14	0.55	1.00	0.50	0.16	0.23
EPS Growth %	-	0.5%	2.93%	0.82%	-0.5%	-0.68%	0.44%
EPS (Basic)	0.09	0.14	0.55	1.13	0.55	0.17	0.25
Diluted Shares Outstanding	47.52M	47.83M	48.09M	56.63M	56.91M	56.03M	54.29M
Basic Shares Outstanding	47.52M	47.83M	48.09M	50.18M	52.28M	51.76M	49.21M
Dividend Payout Ratio	-	-	-	-	-	-	-

Balance Sheet

	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	149.91M	177.64M	327.11M	460.75M	503.48M	561.96M	575.55M
Cash & Short-Term Investments	35.51M	55.45M	100.98M	159.63M	174.4M	175.34M	140.59M
Cash Only	21.21M	34.25M	81.19M	82.5M	92.38M	78.51M	100.45M
Short-Term Investments	14.29M	21.2M	19.79M	77.12M	82.01M	96.83M	40.13M
Accounts Receivable	109.29M	117.66M	219.51M	286.92M	314.3M	375.47M	424.81M
Days Sales Outstanding	401.88	377.13	538.64	461.53	447.46	513.25	532.37
Inventory	0	0	0	0	0	0	0
Days Inventory Outstanding	-	-	-	-	-	-	-
Other Current Assets	0	0	0	0	14.78M	11.14M	10.14M
Total Non-Current Assets+	28.32M	29.8M	44.13M	89.47M	138.7M	133.29M	163.97M
Property, Plant & Equipment	18.77M	20.33M	30.04M	71.75M	97.36M	81.83M	102.92M
Fixed Asset Turnover	5.29x	5.60x	4.95x	3.16x	2.63x	3.26x	2.83x
Goodwill	6.25M	6.25M	6.25M	6.25M	29.58M	29.58M	29.58M
Intangible Assets	337K	0	0	0	8.3M	5.86M	4.28M
Long-Term Investments	0	0	0	0	0	0	0
Other Non-Current Assets	632K	1.08M	7.08M	10.95M	2.41M	2.14M	2.32M
Total Assets+	178.22M	207.44M	371.25M	550.22M	642.17M	695.24M	739.52M
Asset Turnover	0.56x	0.55x	0.40x	0.41x	0.40x	0.38x	0.39x
Asset Growth %	-	0.16%	0.79%	0.48%	0.17%	0.08%	0.06%
Total Current Liabilities+	90.46M	110.5M	191.57M	266.96M	302.03M	379.59M	418.81M
Accounts Payable	81.86M	99.38M	176.73M	244.32M	277.41M	347.67M	386.6M
Days Payables Outstanding	956.6	1K	1.57K	1.53K	1.24K	1.28K	1.4K
Short-Term Debt	0	0	0	3.98M	0	6.37M	0
Deferred Revenue (Current)	0	0	0	0	0	0	0
Other Current Liabilities	0	9.99M	0	13.29M	125K	12.41M	19.98M
Current Ratio	1.66x	1.61x	1.71x	1.73x	1.67x	1.48x	1.37x
Quick Ratio	1.66x	1.61x	1.71x	1.73x	1.67x	1.48x	1.37x
Cash Conversion Cycle	-	-	-	-	-	-	-
Total Non-Current Liabilities+	64.12M	64.62M	4.24M	26.07M	27.96M	19.45M	43.45M
Long-Term Debt	276K	0	1.56M	0	0	0	0
Capital Lease Obligations	0	0	0	17.84M	20.91M	15.61M	39.54M
Deferred Tax Liabilities	0	0	0	6.07M	573K	0	0
Other Non-Current Liabilities	63.84M	64.62M	2.68M	2.16M	6.47M	3.36M	3.91M
Total Liabilities	154.57M	175.13M	195.82M	293.04M	329.99M	399.04M	462.26M
Total Debt+	276K	0	1.56M	25.69M	26.59M	28.21M	45.38M
Net Debt	-20.94M	-34.25M	-79.63M	-56.82M	-65.79M	-50.3M	-55.07M
Debt / Equity	0.01x	-	0.01x	0.10x	0.09x	0.10x	0.16x
Debt / EBITDA	0.02x	-	0.03x	0.34x	0.33x	0.60x	0.92x
Net Debt / EBITDA	-1.21x	-1.62x	-1.68x	-0.76x	-0.82x	-1.07x	-1.12x
Interest Coverage	-	-	-	-	-	-	-
Total Equity+	23.65M	32.32M	175.43M	257.18M	312.19M	296.2M	277.26M
Equity Growth %	-	0.37%	4.43%	0.47%	0.21%	-0.05%	-0.06%
Book Value per Share	0.50	0.68	3.65	4.54	5.49	5.29	5.11
Total Shareholders' Equity	23.65M	32.32M	175.43M	257.18M	312.19M	296.2M	277.26M
Common Stock	19.03M	19.03M	6K	6K	6K	6K	6K
Retained Earnings	9.44M	16.08M	42.69M	99.3M	128M	136.88M	149.38M
Treasury Stock	-11.43M	-11.43M	-11.43M	-11.49M	-11.49M	-71.1M	-146.8M
Accumulated OCI	-40.17M	6K	1K	-36K	-9K	-4K	-636K
Minority Interest	0	0	0	0	0	0	0

Cash Flow

	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	15.6M	35.13M	24.33M	88.68M	87.21M	81.12M	73.42M
Operating CF Margin %	0.16%	0.31%	0.16%	0.39%	0.34%	0.3%	0.25%
Operating CF Growth %	-	1.25%	-0.31%	2.64%	-0.02%	-0.07%	-0.09%
Net Income	4.42M	6.64M	26.61M	56.6M	28.7M	8.88M	12.5M
Depreciation & Amortization	12.29M	12.67M	15.74M	23.07M	34.25M	44.77M	45.35M
Stock-Based Compensation	3.17M	2M	3.56M	14.11M	20.65M	28.86M	37.68M
Deferred Taxes	-4K	193K	2.93M	4.75M	-7.17M	-13.41M	-10.98M
Other Non-Cash Items	436K	4.06M	363K	-3.39M	11.29M	7.77M	2.66M
Working Capital Changes	-4.72M	9.56M	-24.89M	-6.46M	-514K	4.24M	-13.78M
Change in Receivables	-24.18M	-11.92M	-102.17M	-67.41M	-24.41M	-75.72M	-49.34M
Change in Inventory	44.28M	2.63M	0	0	0	0	0
Change in Payables	17.56M	18.46M	77.36M	68.3M	29.76M	79.69M	38.1M
Cash from Investing+	-12.75M	-22.09M	-29.88M	-96.72M	-81.37M	-39.02M	22.31M
Capital Expenditures	-9.66M	-14.99M	-24.18M	-30.43M	-35.87M	-10.6M	-17.59M
CapEx % of Revenue	0.1%	0.13%	0.16%	0.13%	0.14%	0.04%	0.06%
Acquisitions	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-
Other Investing	-4.47M	500K	-7.23M	-8.93M	-13.02M	-17.69M	-20.94M
Cash from Financing+	-7.99M	-1K	52.48M	9.36M	4.04M	-55.98M	-73.48M
Debt Issued (Net)	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-
Other Financing	-3.99M	4K	6.68M	10.23M	4.16M	3.42M	1.99M
Net Change in Cash	-	-	-	-	-	-	-
Free Cash Flow+	5.94M	20.13M	-7.07M	49.32M	38.32M	52.83M	34.9M
FCF Margin %	0.06%	0.18%	-0.05%	0.22%	0.15%	0.2%	0.12%
FCF Growth %	-	2.39%	-1.35%	7.97%	-0.22%	0.38%	-0.34%
FCF per Share	0.12	0.42	-0.15	0.87	0.67	0.94	0.64
FCF Conversion (FCF/Net Income)	3.52x	5.29x	0.91x	1.57x	3.04x	9.13x	5.87x
Interest Paid	0	0	0	0	0	0	0
Taxes Paid	769K	3.02M	2.69M	6.79M	9.19M	15.63M	14.18M

Key Ratios

Metric	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	18.71%	23.74%	25.62%	26.17%	10.08%	2.92%	4.36%
Return on Invested Capital (ROIC)	137.44%	1634.25%	50.74%	29.78%	13.6%	0.62%	1.26%
Gross Margin	68.53%	68.29%	72.31%	74.3%	68.21%	62.84%	65.31%
Net Margin	4.46%	5.83%	17.89%	24.95%	11.2%	3.33%	4.29%
Debt / Equity	0.01x	-	0.01x	0.10x	0.09x	0.10x	0.16x
FCF Conversion	3.52x	5.29x	0.91x	1.57x	3.04x	9.13x	5.87x
Revenue Growth	-	14.72%	30.63%	52.55%	12.99%	4.15%	9.08%

Revenue by Segment

	2021	2022	2023	2024
Reportable	-	-	-	291.26M
Reportable Growth	-	-	-	-

Revenue by Geography

	2021	2022	2023	2024
UNITED STATES	139.05M	156.07M	158.11M	176.21M
UNITED STATES Growth	-	12.24%	1.31%	11.45%
EMEA	62.53M	71.87M	84.92M	83.39M
EMEA Growth	-	14.93%	18.16%	-1.81%
Asia Pacific	20.91M	24.84M	19.29M	25M
Asia Pacific Growth	-	18.81%	-22.37%	29.63%
Rest Of The World	4.42M	3.6M	4.7M	6.66M
Rest Of The World Growth	-	-18.52%	30.50%	41.78%

Frequently Asked Questions

Valuation & Price

PubMatic, Inc. (PUBM) has a price-to-earnings (P/E) ratio of 34.1x. This suggests investors expect higher future growth.

Growth & Financials

PubMatic, Inc. (PUBM) reported $288.4M in revenue for fiscal year 2024. This represents a 191% increase from $99.3M in 2018.

PubMatic, Inc. (PUBM) grew revenue by 9.1% over the past year. This is steady growth.

PubMatic, Inc. (PUBM) reported a net loss of $7.2M for fiscal year 2024.

Dividend & Returns

PubMatic, Inc. (PUBM) has a return on equity (ROE) of 4.4%. This is below average, suggesting room for improvement.

PubMatic, Inc. (PUBM) generated $48.2M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.