PDF Solutions (PDFS) Financials

$19.82 +0.26 (+1.33%)

Closing price 06/23/2025 04:00 PM Eastern

Extended Trading

$19.82 0.00 (0.00%)

As of 06/23/2025 05:06 PM Eastern

Annual Income Statements for PDF Solutions

This table shows PDF Solutions' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Income / (Loss) Attributable to Common Shareholders	18	12	9.10	-1.34	-7.72	-5.42	-40	-21	-3.43	3.11	4.06
Consolidated Net Income / (Loss)	18	12	9.10	-1.34	-7.72	-5.42	-40	-21	-3.43	3.11	4.06
Net Income / (Loss) Continuing Operations	18	12	9.10	-1.34	-7.72	-5.42	-40	-21	-3.43	3.11	4.06
Total Pre-Tax Income	28	19	13	-0.07	-9.46	-7.36	-18	-18	0.47	4.87	6.58
Total Operating Income	28	19	13	0.19	-9.95	-7.64	-17	-19	-2.09	-0.15	0.94
Total Gross Profit	60	59	63	54	43	52	51	67	101	114	125
Total Revenue	100	98	107	102	86	86	88	111	149	166	179
Operating Revenue	100	98	107	102	86	86	88	111	149	166	179
Total Cost of Revenue	40	39	44	48	43	33	37	44	48	52	54
Operating Cost of Revenue	40	39	44	48	43	33	37	44	48	52	54
Total Operating Expenses	33	40	50	54	53	60	68	86	103	114	124
Selling, General & Admin Expense	18	20	22	24	24	26	33	38	45	62	70
Research & Development Expense	14	19	28	30	28	33	35	44	56	51	54
Amortization Expense	0.03	0.20	0.43	0.40	0.44	0.61	0.74	1.26	1.27	1.29	0.90
Total Other Income / (Expense), net	0.12	0.18	-0.01	-0.26	0.49	0.28	-1.27	0.68	2.56	5.02	5.64
Interest & Investment Income	-	-	-	-	-	-	-	0.68	2.56	5.02	5.64
Income Tax Expense	9.50	7.02	3.85	1.26	-1.74	-1.94	22	3.17	3.90	1.76	2.52
Basic Earnings per Share	$0.60	$0.39	$0.29	($0.04)	($0.24)	($0.17)	($1.17)	($0.58)	($0.09)	$0.08	$0.11
Weighted Average Basic Shares Outstanding	30.74M	31.42M	31.37M	32.04M	32.17M	32.41M	34.46M	37.14M	37.31M	38.02M	38.60M
Diluted Earnings per Share	$0.58	$0.39	$0.28	($0.04)	($0.24)	($0.17)	($1.17)	($0.58)	($0.09)	$0.08	$0.10
Weighted Average Diluted Shares Outstanding	31.94M	32.16M	32.43M	32.04M	32.17M	32.41M	34.46M	37.14M	37.31M	38.94M	39.05M
Weighted Average Basic & Diluted Shares Outstanding	30.80M	31.80M	31.40M	32.30M	32.60M	32.78M	37.15M	37.71M	37.77M	38.58M	39.11M

This table shows PDF Solutions' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Income / (Loss) Attributable to Common Shareholders	1.39	0.48	0.36	6.84	-4.97	0.89	-0.39	1.71	2.21	0.54	-3.03
Consolidated Net Income / (Loss)	1.39	0.48	0.36	6.84	-4.97	0.89	-0.39	1.71	2.21	0.54	-3.03
Net Income / (Loss) Continuing Operations	1.39	0.48	0.36	6.84	-4.97	0.89	-0.39	1.71	2.21	0.54	-3.03
Total Pre-Tax Income	2.20	1.07	0.75	2.95	1.03	0.14	-0.27	1.74	3.63	1.47	-3.00
Total Operating Income	0.69	1.32	-0.17	1.88	-0.98	-0.88	-1.96	0.26	2.12	0.51	-3.56
Total Gross Profit	27	29	29	29	28	28	28	29	34	34	35
Total Revenue	40	41	41	42	42	41	41	42	46	50	48
Operating Revenue	40	41	41	42	42	41	41	42	46	50	48
Total Cost of Revenue	13	12	12	12	14	13	14	12	12	16	13
Operating Cost of Revenue	13	12	12	12	14	13	14	12	12	16	13
Total Operating Expenses	27	27	29	27	29	29	30	29	32	34	38
Selling, General & Admin Expense	12	13	16	15	16	16	16	16	18	19	23
Research & Development Expense	14	14	13	12	13	12	13	13	14	14	15
Amortization Expense	0.32	0.32	0.33	0.33	0.33	0.31	0.26	0.26	0.20	0.18	0.38
Total Other Income / (Expense), net	1.51	-0.25	0.91	1.07	2.02	1.02	1.69	1.48	1.51	0.96	0.56
Interest Expense	-	-	-	-	-	-	0.00	-	-	-	0.31
Other Income / (Expense), net	-	-	-	-	-	-	1.69	-	-	-	0.87
Income Tax Expense	0.82	0.59	0.39	-3.89	6.01	-0.74	0.13	0.04	1.42	0.94	0.04
Basic Earnings per Share	$0.04	$0.01	$0.01	$0.18	($0.13)	$0.02	($0.01)	$0.04	$0.06	$0.02	($0.08)
Weighted Average Basic Shares Outstanding	37.23M	37.31M	37.74M	37.86M	38.19M	38.02M	38.50M	38.62M	38.71M	38.60M	39.09M
Diluted Earnings per Share	$0.04	$0.01	$0.01	$0.17	($0.13)	$0.03	($0.01)	$0.04	$0.06	$0.01	($0.08)
Weighted Average Diluted Shares Outstanding	38.05M	37.31M	38.86M	39.08M	38.19M	38.94M	38.50M	39.13M	39.11M	39.05M	39.09M
Weighted Average Basic & Diluted Shares Outstanding	37.38M	37.77M	37.85M	38.13M	38.26M	38.58M	38.40M	38.75M	38.77M	39.11M	39.14M

This table details how cash moves in and out of PDF Solutions' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Net Change in Cash & Equivalents	26	11	-9.37	-16	-5.18	1.52	-64	-6.13	92	-21	-8.38
Net Cash From Operating Activities	29	30	2.00	11	13	25	22	4.24	32	15	9.70
Net Cash From Continuing Operating Activities	29	30	2.00	11	13	25	22	4.24	32	15	9.70
Net Income / (Loss) Continuing Operations	18	12	9.10	-1.34	-7.72	-5.42	-40	-21	-3.43	3.11	4.06
Consolidated Net Income / (Loss)	18	12	9.10	-1.34	-7.72	-5.42	-40	-21	-3.43	3.11	4.06
Depreciation Expense	2.01	2.65	3.58	4.79	4.97	6.03	6.73	6.22	5.53	4.99	3.63
Amortization Expense	0.03	0.37	0.81	0.87	1.39	1.63	2.00	3.99	4.85	4.52	4.36
Non-Cash Adjustments To Reconcile Net Income	10	9.74	9.83	12	11	12	13	15	21	21	26
Changes in Operating Assets and Liabilities, net	-2.17	5.17	-21	-5.68	3.58	10	40	0.75	4.11	-19	-29
Net Cash From Investing Activities	-3.67	-10	-11	-14	-13	-13	-151	-4.67	85	-29	-5.94
Net Cash From Continuing Investing Activities	-3.67	-10	-11	-14	-13	-13	-151	-4.67	85	-29	-5.94
Purchase of Property, Plant & Equipment	-3.96	-4.78	-11	-10	-13	-11	-6.97	-4.05	-8.43	-11	-18
Acquisitions	0.00	-5.55	0.00	-3.84	0.00	-2.66	-29	-3.05	-0.15	-1.97	0.00
Purchase of Investments	-	-	-	-	-	0.00	-131	-169	-58	-60	-54
Sale of Property, Plant & Equipment	0.29	-	-	-	-	-	-	0.00	0.00	0.11	0.06
Sale and/or Maturity of Investments	-	-	-	-	-	0.00	17	171	152	44	68
Other Investing Activities, net	-	-	-	-	-	-	-	-	0.00	0.00	-2.00
Net Cash From Financing Activities	1.15	-9.23	0.03	-12	-5.20	-9.84	65	-5.53	-24	-5.89	-11
Net Cash From Continuing Financing Activities	1.15	-9.23	0.03	-12	-5.20	-9.84	65	-5.53	-24	-5.89	-11
Repurchase of Common Equity	-3.57	-15	-2.18	-13	-5.25	-9.64	0.00	-4.52	-22	-0.74	-6.90
Issuance of Common Equity	1.44	1.38	1.56	1.87	1.83	1.53	67	1.04	3.01	3.83	4.07
Other Financing Activities, net	3.28	4.26	0.66	-0.67	-1.79	-1.73	-1.95	-2.04	-4.85	-8.98	-8.41
Effect of Exchange Rate Changes	-0.05	-0.08	-0.12	0.26	-0.20	-	0.13	-0.18	-0.65	-0.37	-0.92
Cash Income Taxes Paid	4.22	4.98	3.64	2.24	2.58	2.69	2.71	1.87	2.85	3.78	2.56

This table details how cash moves in and out of PDF Solutions' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Net Change in Cash & Equivalents	59	-21	-5.24	-14	11	-13	-14	6.73	4.44	-5.83	-47
Net Cash From Operating Activities	1.40	24	-0.98	-5.63	19	2.03	-1.86	0.68	9.28	1.61	8.64
Net Cash From Continuing Operating Activities	1.40	24	-0.98	-5.63	19	2.03	-1.86	0.68	9.28	1.61	8.64
Net Income / (Loss) Continuing Operations	1.39	0.48	0.36	6.84	-4.97	0.89	-0.39	1.71	2.21	0.54	-3.03
Consolidated Net Income / (Loss)	1.39	0.48	0.36	6.84	-4.97	0.89	-0.39	1.71	2.21	0.54	-3.03
Depreciation Expense	1.40	1.35	1.30	1.24	1.23	1.21	1.06	1.07	0.77	0.73	0.69
Amortization Expense	1.18	1.16	1.10	1.18	1.14	1.10	0.99	1.07	1.10	1.20	1.73
Non-Cash Adjustments To Reconcile Net Income	4.81	6.60	3.49	6.16	4.21	7.06	6.02	3.61	6.06	9.95	6.28
Changes in Operating Assets and Liabilities, net	-7.38	15	-7.23	-21	18	-8.23	-9.55	-6.77	-0.86	-11	2.97
Net Cash From Investing Activities	11	1.25	-2.25	-7.42	-4.56	-15	-2.64	6.84	-4.01	-6.12	-124
Net Cash From Continuing Investing Activities	57	-45	-2.25	-7.42	-4.56	-15	-2.64	6.84	-4.01	-6.12	-124
Purchase of Property, Plant & Equipment	-2.12	-1.73	-2.90	-3.10	-2.92	-2.41	-2.02	-5.32	-4.60	-5.85	-8.20
Acquisitions	-	-	-	-	-	-	0.00	-	-	-	-130
Purchase of Investments	-	-	-6.35	-17	-8.77	-27	-20	-5.85	-18	-11	-2.94
Sale and/or Maturity of Investments	24	16	7.00	13	9.00	15	19	18	20	11	17
Net Cash From Financing Activities	0.18	-0.12	-2.09	-0.38	-3.10	-0.31	-8.75	-0.40	-1.76	-0.33	68
Net Cash From Continuing Financing Activities	0.18	-0.12	-2.09	-0.38	-3.10	-0.31	-8.75	-0.40	-1.76	-0.33	68
Repurchase of Common Equity	-	-	0.00	-	-0.74	-	-6.90	-	-	-	0.00
Issuance of Debt	-	-	-	-	-	-	0.00	-	-	-	69
Issuance of Common Equity	1.51	-	1.66	-	2.17	-	1.92	-	2.16	-	2.12
Other Financing Activities, net	-1.33	-0.12	-3.76	-0.38	-4.53	-0.31	-3.77	-0.40	-3.91	-0.33	-3.31
Effect of Exchange Rate Changes	-	-	0.09	-0.58	-0.27	0.40	-0.47	-0.39	0.93	-0.99	0.40
Cash Income Taxes Paid	0.31	0.85	1.99	1.15	0.43	0.22	0.67	0.62	0.77	0.50	0.23

This table presents PDF Solutions' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Total Assets	177	192	222	224	226	240	288	274	279	290	315
Total Current Assets	159	163	170	164	157	148	193	189	193	198	206
Cash & Equivalents	115	126	117	101	96	98	30	28	120	99	91
Short-Term Investments	-	-	-	-	-	0.00	115	113	20	37	24
Accounts Receivable	38	33	48	58	52	41	34	40	42	45	74
Prepaid Expenses	2.89	3.66	5.34	5.07	9.56	9.32	14	8.19	12	17	17
Plant, Property, & Equipment, net	8.83	11	19	25	36	41	39	35	40	37	48
Total Noncurrent Assets	9.19	17	33	35	33	51	55	50	45	55	61
Goodwill	0.00	0.22	0.22	1.92	1.92	2.29	16	14	14	15	15
Intangible Assets	0.00	5.03	4.22	6.07	5.06	6.22	25	21	18	16	12
Noncurrent Deferred & Refundable Income Taxes	8.03	10	16	16	19	25	0.25	0.08	0.06	0.16	0.04
Other Noncurrent Operating Assets	1.16	1.65	13	11	6.97	17	14	15	13	24	34
Total Liabilities & Shareholders' Equity	177	192	222	224	226	240	288	274	279	290	315
Total Liabilities	16	17	24	26	26	43	53	54	69	61	69
Total Current Liabilities	12	14	19	20	20	28	42	44	58	51	61
Short-Term Debt	-	-	-	-	-	-	-	-	-	-	0.00
Accounts Payable	0.80	1.29	2.21	2.54	2.45	7.64	4.40	5.55	6.39	2.56	8.26
Accrued Expenses	1.73	2.38	2.08	2.63	3.24	1.67	6.31	3.33	5.58	4.63	8.75
Current Deferred Revenue	3.74	5.97	8.28	7.98	9.11	12	21	24	28	27	25
Current Employee Benefit Liabilities	6.11	4.81	5.96	6.49	4.73	5.07	8.34	9.50	17	15	17
Other Current Liabilities	-	-	-	-	0.00	1.87	1.93	1.76	1.41	1.53	1.68
Total Noncurrent Liabilities	3.23	3.01	5.00	6.17	6.58	15	11	10	10	10	8.71
Long-Term Debt	-	-	-	-	-	-	-	-	-	-	0.00
Noncurrent Deferred Revenue	2.60	2.54	3.35	3.90	3.75	5.37	2.96	5.10	2.62	2.97	2.92
Other Noncurrent Operating Liabilities	0.63	0.47	1.65	2.27	2.83	10	7.91	5.26	7.84	7.38	5.80
Total Equity & Noncontrolling Interests	162	174	199	198	200	196	235	220	210	229	246
Total Preferred & Common Equity	162	174	199	198	200	196	235	220	210	229	246
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Total Common Equity	162	174	199	198	200	196	235	220	210	229	246
Common Stock	249	266	281	298	311	325	407	423	447	473	503
Retained Earnings	-52	-40	-26	-27	-30	-36	-76	-98	-101	-98	-94
Treasury Stock	-34	-50	-55	-72	-79	-92	-96	-105	-134	-144	-159
Accumulated Other Comprehensive Income / (Loss)	-0.68	-1.54	-1.99	-0.71	-1.28	-1.48	-0.23	-1.06	-2.55	-2.39	-3.53

This table presents PDF Solutions' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q2 2022	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025
Period end date	6/30/2022	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025
Total Assets	249	266	279	290	282	287	298	307	390
Total Current Assets	164	181	193	204	194	187	193	191	141
Cash & Equivalents	81	94	114	100	112	85	92	96	44
Short-Term Investments	36	22	19	24	24	38	26	24	10
Accounts Receivable	36	55	47	61	41	47	56	47	64
Prepaid Expenses	10	9.46	13	19	18	17	19	25	23
Plant, Property, & Equipment, net	38	39	42	43	38	36	41	46	57
Total Noncurrent Assets	47	47	44	43	50	63	64	70	193
Goodwill	14	14	14	14	15	15	15	15	97
Intangible Assets	20	19	17	16	16	15	14	13	58
Noncurrent Deferred & Refundable Income Taxes	0.05	0.02	0.09	0.08	0.03	0.15	0.15	0.17	0.22
Other Noncurrent Operating Assets	13	14	13	12	19	34	35	42	38
Total Liabilities & Shareholders' Equity	249	266	279	290	282	287	298	307	390
Total Liabilities	51	63	66	66	61	61	66	67	141
Total Current Liabilities	42	52	54	52	50	52	55	58	64
Short-Term Debt	-	-	-	-	-	-	-	-	2.24
Accounts Payable	3.38	5.19	6.29	2.28	2.63	5.73	4.22	7.50	9.39
Accrued Expenses	6.24	6.47	5.87	5.50	4.77	4.96	5.99	6.51	13
Current Deferred Revenue	20	27	27	32	30	30	32	29	27
Current Employee Benefit Liabilities	11	13	14	11	12	9.49	11	13	11
Other Current Liabilities	1.49	1.45	1.57	1.54	1.50	1.63	1.61	1.71	1.59
Total Noncurrent Liabilities	9.50	10	12	14	11	9.61	10	9.16	77
Long-Term Debt	-	-	-	-	-	-	-	-	66
Noncurrent Deferred Revenue	4.22	4.30	2.64	2.43	2.82	2.98	2.67	2.88	2.93
Other Noncurrent Operating Liabilities	5.28	6.07	8.96	12	8.15	6.63	7.71	6.27	7.35
Total Equity & Noncontrolling Interests	198	203	213	224	222	225	232	240	249
Total Preferred & Common Equity	198	203	213	224	222	225	232	240	249
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	198	203	213	224	222	225	232	240	249
Common Stock	435	442	454	459	467	481	487	496	512
Retained Earnings	-103	-102	-101	-94	-99	-98	-97	-95	-97
Treasury Stock	-131	-133	-138	-138	-144	-155	-155	-159	-163
Accumulated Other Comprehensive Income / (Loss)	-2.53	-3.91	-2.28	-2.67	-3.23	-2.93	-3.26	-2.25	-3.08

This table displays calculated financial ratios and metrics derived from PDF Solutions' official financial filings.

Metric	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-1.27%	-2.18%	9.68%	-5.20%	-15.78%	-0.24%	2.88%	26.14%	33.76%	11.64%	8.22%
EBITDA Growth	-8.45%	-25.20%	-22.71%	-67.81%	-155.53%	109.67%	-3,213.33%	5.91%	194.23%	12.96%	-4.58%
EBIT Growth	-10.70%	-30.53%	-33.29%	-100.57%	-12,682.43%	22.19%	-145.38%	-5.20%	88.99%	92.78%	719.21%
NOPAT Growth	-12.34%	-33.14%	-25.88%	-98.54%	-5,337.89%	23.27%	-119.89%	-13.16%	214.76%	-100.63%	698.77%
Net Income Growth	-11.79%	-32.80%	-26.63%	-114.69%	-477.11%	29.78%	-644.98%	46.76%	84.04%	190.55%	30.66%
EPS Growth	-13.43%	-32.76%	-28.21%	-114.29%	-500.00%	29.17%	-588.24%	50.43%	84.48%	188.89%	25.00%
Operating Cash Flow Growth	13.02%	5.83%	-93.41%	427.25%	26.49%	84.36%	-11.42%	-80.52%	661.21%	-54.80%	-33.54%
Free Cash Flow Firm Growth	15.36%	-39.53%	-335.75%	39.60%	9.23%	98.59%	-1,161.35%	-43.01%	789.79%	-195.37%	-63.74%
Invested Capital Growth	2.25%	3.86%	70.34%	18.39%	6.80%	-4.97%	-9.48%	-11.04%	-10.75%	31.90%	40.38%
Revenue Q/Q Growth	-1.01%	-1.99%	4.23%	-1.60%	-7.59%	3.43%	-0.22%	7.26%	7.71%	0.36%	5.26%
EBITDA Q/Q Growth	-5.82%	-15.65%	-0.22%	-25.80%	-373.22%	115.81%	-146.89%	7.36%	579.89%	-20.43%	12.74%
EBIT Q/Q Growth	-6.56%	-18.96%	-2.23%	-103.41%	-86.20%	18.66%	-47.13%	3.20%	76.98%	-107.37%	305.95%
NOPAT Q/Q Growth	-6.00%	-18.73%	-1.28%	-96.74%	-84.13%	20.18%	-36.79%	3.20%	339.97%	-110.09%	251.30%
Net Income Q/Q Growth	-5.49%	-19.23%	1.43%	-131.68%	-6.65%	24.77%	-389.60%	55.17%	68.58%	14.96%	-7.90%
EPS Q/Q Growth	-6.45%	-18.75%	-3.45%	-130.77%	-4.35%	22.73%	-350.00%	57.04%	68.97%	33.33%	-16.67%
Operating Cash Flow Q/Q Growth	-11.23%	32.35%	-80.18%	63.95%	0.08%	-9.95%	74.89%	-71.20%	282.72%	-60.38%	-4.18%
Free Cash Flow Firm Q/Q Growth	-21.33%	144.34%	-103.45%	35.13%	-31.21%	-107.13%	76.52%	-879.08%	311.41%	-1,311.61%	-7.71%
Invested Capital Q/Q Growth	21.38%	-1.77%	16.47%	-0.46%	-0.39%	4.04%	-7.47%	-3.49%	-18.70%	8.38%	9.01%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	60.35%	60.17%	58.64%	53.35%	50.11%	60.89%	58.24%	60.21%	67.75%	68.79%	69.83%
EBITDA Margin	29.95%	22.90%	16.14%	5.48%	-3.61%	0.35%	-10.61%	-7.91%	5.57%	5.64%	4.97%
Operating Margin	27.79%	19.64%	12.07%	0.19%	-11.60%	-8.92%	-19.07%	-17.11%	-1.41%	-0.09%	0.52%
EBIT Margin	27.91%	19.82%	12.06%	-0.07%	-11.03%	-8.60%	-20.51%	-17.11%	-1.41%	-0.09%	0.52%
Profit (Net Income) Margin	18.43%	12.66%	8.47%	-1.31%	-8.99%	-6.33%	-45.84%	-19.35%	-2.31%	1.87%	2.26%
Tax Burden Percent	66.03%	63.88%	70.26%	1,806.76%	81.57%	73.61%	223.49%	117.31%	-729.57%	63.77%	61.67%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	96.41%	-22.47%	-3,224.50%	703.64%
Effective Tax Rate	33.97%	36.12%	29.74%	0.00%	0.00%	0.00%	0.00%	0.00%	829.57%	36.23%	38.33%
Return on Invested Capital (ROIC)	40.09%	26.01%	14.00%	0.15%	-6.94%	-5.29%	-12.52%	-15.78%	20.32%	-0.12%	0.51%
ROIC Less NNEP Spread (ROIC-NNEP)	40.02%	25.92%	14.00%	1.50%	-6.18%	-5.21%	11.04%	-10.04%	33.70%	-2.45%	-2.27%
Return on Net Nonoperating Assets (RNNOA)	-27.64%	-18.63%	-9.12%	-0.82%	3.06%	2.55%	-6.22%	6.32%	-21.92%	1.53%	1.19%
Return on Equity (ROE)	12.45%	7.38%	4.88%	-0.67%	-3.88%	-2.74%	-18.74%	-9.46%	-1.60%	1.41%	1.71%
Cash Return on Invested Capital (CROIC)	37.87%	22.22%	-38.04%	-16.70%	-13.52%	-0.19%	-2.57%	-4.09%	31.68%	-27.63%	-33.09%
Operating Return on Assets (OROA)	17.02%	10.52%	6.26%	-0.03%	-4.20%	-3.16%	-6.85%	-6.77%	-0.76%	-0.05%	0.31%
Return on Assets (ROA)	11.24%	6.72%	4.40%	-0.60%	-3.43%	-2.33%	-15.31%	-7.66%	-1.24%	1.09%	1.34%
Return on Common Equity (ROCE)	12.45%	7.38%	4.88%	-0.67%	-3.88%	-2.74%	-18.74%	-9.46%	-1.60%	1.41%	1.71%
Return on Equity Simple (ROE_SIMPLE)	11.41%	7.12%	4.58%	-0.67%	-3.86%	-2.76%	-17.21%	-9.79%	-1.63%	1.36%	1.65%
Net Operating Profit after Tax (NOPAT)	18	12	9.11	0.13	-6.97	-5.35	-12	-13	15	-0.10	0.58
NOPAT Margin	18.35%	12.55%	8.48%	0.13%	-8.12%	-6.25%	-13.35%	-11.98%	10.27%	-0.06%	0.32%
Net Nonoperating Expense Percent (NNEP)	0.08%	0.10%	-0.01%	-1.35%	-0.76%	-0.08%	-23.56%	-5.74%	-13.38%	2.33%	2.78%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	7.27%	-0.04%	0.23%
Cost of Revenue to Revenue	39.65%	39.83%	41.36%	46.65%	49.89%	39.11%	41.76%	39.79%	32.25%	31.21%	30.17%
SG&A Expenses to Revenue	18.43%	20.84%	20.52%	23.25%	27.90%	30.73%	37.11%	33.90%	30.52%	37.52%	38.96%
R&D to Revenue	14.04%	19.49%	25.65%	29.53%	32.63%	38.26%	39.36%	39.42%	37.78%	30.59%	29.85%
Operating Expenses to Revenue	32.56%	40.53%	46.57%	53.17%	61.71%	69.81%	77.31%	77.32%	69.16%	68.89%	69.31%
Earnings before Interest and Taxes (EBIT)	28	19	13	-0.07	-9.46	-7.36	-18	-19	-2.09	-0.15	0.94
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	30	22	17	5.58	-3.10	0.30	-9.34	-8.79	8.28	9.35	8.93
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	1.95	3.57	2.53	1.36	2.79	3.37	5.41	5.08	5.37	4.27
Price to Tangible Book Value (P/TBV)	0.00	2.02	3.65	2.63	1.41	2.91	4.08	6.44	6.00	6.20	4.80
Price to Revenue (P/Rev)	0.00	3.48	6.61	4.92	3.17	6.38	8.99	10.69	7.18	7.42	5.85
Price to Earnings (P/E)	0.00	27.46	77.99	0.00	0.00	0.00	0.00	0.00	0.00	396.05	258.80
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	3.64%	1.28%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.25%	0.39%
Enterprise Value to Invested Capital (EV/IC)	0.00	4.46	7.23	4.12	1.70	4.55	7.24	13.19	13.09	11.71	7.13
Enterprise Value to Revenue (EV/Rev)	0.00	2.19	5.52	3.93	2.05	5.24	7.34	9.43	6.24	6.60	5.21
Enterprise Value to EBITDA (EV/EBITDA)	0.00	9.56	34.20	71.69	0.00	1,495.97	0.00	0.00	111.94	116.98	104.76
Enterprise Value to EBIT (EV/EBIT)	0.00	11.05	45.79	0.00	0.00	0.00	0.00	0.00	0.00	0.00	1,000.09
Enterprise Value to NOPAT (EV/NOPAT)	0.00	17.46	65.12	3,009.85	0.00	0.00	0.00	0.00	60.74	0.00	1,621.79
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	7.07	296.60	37.96	13.19	18.25	29.65	246.75	28.70	74.95	96.37
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	20.43	0.00	0.00	0.00	0.00	0.00	0.00	38.96	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Financial Leverage	-0.69	-0.72	-0.65	-0.55	-0.50	-0.49	-0.56	-0.63	-0.65	-0.63	-0.53
Leverage Ratio	1.11	1.10	1.11	1.12	1.13	1.18	1.22	1.24	1.29	1.30	1.27
Compound Leverage Factor	1.11	1.10	1.11	1.12	1.13	1.18	1.22	1.19	-0.29	-41.78	8.97
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Altman Z-Score	0.00	13.19	19.44	12.72	7.04	8.20	9.30	13.46	9.90	12.76	9.81
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	12.87	11.29	9.19	8.35	8.05	5.27	4.58	4.30	3.32	3.89	3.40
Quick Ratio	12.37	11.04	8.91	8.09	7.56	4.94	4.25	4.11	3.12	3.55	3.11
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	17	11	-25	-15	-14	-0.19	-2.41	-3.45	24	-23	-37
Operating Cash Flow to CapEx	780.45%	634.11%	17.73%	102.83%	101.69%	233.04%	312.61%	104.69%	383.13%	130.12%	54.73%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.61	0.53	0.52	0.46	0.38	0.37	0.33	0.40	0.54	0.58	0.59
Accounts Receivable Turnover	2.76	2.75	2.63	1.93	1.57	1.86	2.35	2.99	3.61	3.81	3.03
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	12.60	9.72	7.01	4.56	2.81	2.24	2.20	2.98	3.94	4.28	4.18
Accounts Payable Turnover	41.11	37.24	25.41	20.04	17.16	6.64	6.11	8.88	8.02	11.57	10.01
Days Sales Outstanding (DSO)	132.25	132.55	138.57	189.40	232.15	196.65	155.03	121.97	101.05	95.82	120.56
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	8.88	9.80	14.37	18.21	21.28	55.01	59.74	41.10	45.49	31.56	36.46
Cash Conversion Cycle (CCC)	123.37	122.75	124.21	171.19	210.87	141.64	95.28	80.87	55.56	64.26	84.10
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	46	48	82	97	104	99	89	79	71	93	131
Invested Capital Turnover	2.18	2.07	1.65	1.14	0.85	0.85	0.94	1.32	1.98	2.02	1.60
Increase / (Decrease) in Invested Capital	1.02	1.79	34	15	6.61	-5.15	-9.34	-9.85	-8.53	23	38
Enterprise Value (EV)	0.00	215	593	400	176	449	646	1,047	927	1,094	935
Market Capitalization	0.00	341	710	502	272	546	791	1,187	1,066	1,230	1,050
Book Value per Share	$5.26	$5.55	$6.31	$6.21	$6.19	$6.06	$6.40	$5.88	$5.62	$5.98	$6.35
Tangible Book Value per Share	$5.26	$5.38	$6.17	$5.96	$5.97	$5.80	$5.30	$4.93	$4.76	$5.18	$5.64
Total Capital	162	174	199	198	200	196	235	220	210	229	246
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt	-115	-126	-117	-101	-96	-98	-145	-140	-139	-136	-115
Capital Expenditures (CapEx)	3.67	4.78	11	10	13	11	6.97	4.05	8.43	11	18
Debt-free, Cash-free Net Working Capital (DFCFNWC)	32	23	35	43	42	22	5.88	4.46	-3.97	11	31
Debt-free Net Working Capital (DFNWC)	147	149	152	144	138	120	151	145	135	147	145
Net Working Capital (NWC)	147	149	152	144	138	120	151	145	135	147	145
Net Nonoperating Expense (NNE)	-0.08	-0.12	0.01	1.47	0.75	0.07	29	8.19	19	-3.20	-3.48
Net Nonoperating Obligations (NNO)	-115	-126	-117	-101	-96	-98	-145	-140	-139	-136	-115
Total Depreciation and Amortization (D&A)	2.04	3.02	4.39	5.66	6.36	7.66	8.72	10	10	9.51	7.99
Debt-free, Cash-free Net Working Capital to Revenue	31.52%	23.10%	32.54%	42.21%	48.49%	25.68%	6.68%	4.01%	-2.67%	6.92%	17.02%
Debt-free Net Working Capital to Revenue	146.79%	151.87%	141.22%	141.61%	160.49%	139.72%	171.70%	130.27%	91.02%	88.65%	81.04%
Net Working Capital to Revenue	146.79%	151.87%	141.22%	141.61%	160.49%	139.72%	171.70%	130.27%	91.02%	88.65%	81.04%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.60	$0.39	$0.29	($0.04)	($0.24)	($0.17)	($1.17)	($0.58)	($0.09)	$0.08	$0.11
Adjusted Weighted Average Basic Shares Outstanding	30.74M	31.42M	31.37M	32.04M	32.17M	32.41M	34.46M	37.14M	37.31M	38.02M	38.60M
Adjusted Diluted Earnings per Share	$0.58	$0.39	$0.28	($0.04)	($0.24)	($0.17)	($1.17)	($0.58)	($0.09)	$0.08	$0.10
Adjusted Weighted Average Diluted Shares Outstanding	31.94M	32.16M	32.43M	32.04M	32.17M	32.41M	34.46M	37.14M	37.31M	38.94M	39.05M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	31.54M	31.21M	32.05M	32.30M	32.60M	32.78M	37.15M	37.71M	37.77M	38.58M	39.11M
Normalized Net Operating Profit after Tax (NOPAT)	18	12	9.11	0.13	-6.56	-5.28	-12	-11	-1.46	-0.10	0.58
Normalized NOPAT Margin	18.39%	12.55%	8.48%	0.13%	-7.65%	-6.17%	-13.35%	-9.97%	-0.99%	-0.06%	0.32%
Pre Tax Income Margin	27.91%	19.82%	12.06%	-0.07%	-11.03%	-8.60%	-20.51%	-16.49%	0.32%	2.94%	3.67%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	19.32%	117.07%	23.97%	-1,003.59%	-68.01%	-177.91%	0.00%	-21.05%	-655.32%	23.93%	170.05%

This table displays calculated financial ratios and metrics derived from PDF Solutions' official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025
Period end date	9/30/2022	12/31/2022	3/31/2023	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	34.87%	35.59%	21.68%	20.00%	6.25%	1.49%	1.35%	0.14%	9.58%	21.79%	15.66%
EBITDA Growth	965.47%	218.67%	362.72%	111.53%	-57.57%	-62.67%	-95.72%	-44.08%	187.39%	70.51%	-114.99%
EBIT Growth	132.89%	123.35%	94.93%	325.48%	-242.82%	-166.24%	-1,080.72%	-85.93%	315.35%	158.38%	-901.87%
NOPAT Growth	129.58%	115.00%	96.55%	-27.51%	990.84%	-1,013.60%	-1,634.50%	-94.06%	-72.78%	103.44%	-81.38%
Net Income Growth	157.54%	106.90%	108.55%	695.90%	-458.99%	83.64%	-210.70%	-75.05%	144.37%	-39.23%	-671.50%
EPS Growth	166.67%	105.26%	109.09%	666.67%	-425.00%	200.00%	-200.00%	-76.47%	146.15%	-66.67%	-700.00%
Operating Cash Flow Growth	-65.12%	5,735.34%	-132.78%	-255.44%	1,267.50%	-91.64%	-89.61%	112.14%	-51.66%	-20.85%	564.02%
Free Cash Flow Firm Growth	-135.07%	55.11%	-105.74%	-262.85%	226.69%	-407.26%	-3,586.68%	8.37%	-681.00%	-33.92%	-580.91%
Invested Capital Growth	5.95%	-10.75%	0.72%	24.19%	-1.05%	31.90%	28.33%	14.13%	39.57%	40.38%	156.99%
Revenue Q/Q Growth	14.98%	1.66%	0.58%	2.07%	1.80%	-2.89%	0.45%	0.85%	11.40%	7.92%	-4.61%
EBITDA Q/Q Growth	61.13%	17.18%	-41.53%	91.61%	-67.68%	3.10%	-93.29%	2,401.04%	66.14%	-38.83%	-110.98%
EBIT Q/Q Growth	182.81%	92.16%	-112.54%	1,230.12%	-152.45%	10.87%	-123.49%	113.47%	702.65%	-75.84%	-624.41%
NOPAT Q/Q Growth	-92.77%	37.27%	-113.28%	5,600.61%	8.75%	-214.97%	74.78%	118.82%	398.65%	-85.46%	-1,429.16%
Net Income Q/Q Growth	220.75%	-65.13%	-26.50%	1,825.35%	-172.74%	117.84%	-144.31%	533.84%	29.38%	-75.57%	-662.52%
EPS Q/Q Growth	233.33%	-75.00%	0.00%	1,600.00%	-176.47%	123.08%	-133.33%	500.00%	50.00%	-83.33%	-900.00%
Operating Cash Flow Q/Q Growth	-61.29%	1,630.22%	-104.05%	-473.63%	440.60%	-89.42%	-191.77%	136.73%	1,255.99%	-82.68%	437.98%
Free Cash Flow Firm Q/Q Growth	-147.91%	304.60%	-107.14%	-2,227.75%	137.28%	-596.19%	14.37%	42.14%	-136.35%	-14.37%	-335.38%
Invested Capital Q/Q Growth	8.05%	-18.70%	12.80%	25.33%	-13.91%	8.38%	9.75%	11.46%	5.28%	9.01%	100.90%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	68.53%	70.90%	70.79%	70.27%	66.28%	67.92%	67.25%	70.64%	73.10%	68.25%	72.89%
EBITDA Margin	8.21%	9.46%	5.50%	10.32%	3.28%	3.48%	0.23%	5.76%	8.60%	4.87%	-0.56%
Operating Margin	1.73%	3.27%	-0.41%	4.51%	-2.32%	-2.13%	-4.74%	0.63%	4.57%	1.02%	-7.44%
EBIT Margin	1.73%	3.27%	-0.41%	4.51%	-2.32%	-2.13%	-4.74%	0.63%	4.57%	1.02%	-5.62%
Profit (Net Income) Margin	3.47%	1.19%	0.87%	16.43%	-11.74%	2.16%	-0.95%	4.09%	4.75%	1.08%	-6.35%
Tax Burden Percent	62.95%	44.97%	47.65%	231.93%	-480.85%	620.28%	146.64%	97.82%	60.77%	36.57%	101.20%
Interest Burden Percent	319.30%	81.12%	-448.80%	157.09%	-105.08%	-16.31%	13.67%	660.23%	171.31%	287.89%	111.58%
Effective Tax Rate	37.05%	55.03%	52.35%	-131.93%	580.85%	-520.28%	0.00%	2.18%	39.23%	63.43%	0.00%
Return on Invested Capital (ROIC)	1.77%	2.91%	-0.38%	18.83%	21.30%	-26.71%	-6.06%	0.96%	4.58%	0.60%	-5.29%
ROIC Less NNEP Spread (ROIC-NNEP)	1.03%	2.99%	-0.70%	16.77%	29.02%	-31.32%	-6.82%	-0.23%	3.86%	0.32%	-4.29%
Return on Net Nonoperating Assets (RNNOA)	-0.62%	-1.94%	0.44%	-9.59%	-17.18%	19.60%	3.99%	0.12%	-2.14%	-0.17%	0.98%
Return on Equity (ROE)	1.15%	0.96%	0.06%	9.24%	4.12%	-7.11%	-2.07%	1.09%	2.45%	0.43%	-4.31%
Cash Return on Invested Capital (CROIC)	-13.29%	31.68%	-0.39%	-16.23%	2.16%	-27.63%	-26.12%	-9.73%	-33.41%	-33.09%	-88.08%
Operating Return on Assets (OROA)	0.88%	1.76%	-0.23%	2.72%	-1.40%	-1.24%	-2.79%	0.36%	2.64%	0.61%	-3.09%
Return on Assets (ROA)	1.77%	0.64%	0.50%	9.91%	-7.07%	1.26%	-0.56%	2.32%	2.75%	0.64%	-3.49%
Return on Common Equity (ROCE)	1.15%	0.96%	0.06%	9.24%	4.12%	-7.11%	-2.07%	1.09%	2.45%	0.43%	-4.31%
Return on Equity Simple (ROE_SIMPLE)	-5.37%	0.00%	0.50%	4.04%	1.22%	0.00%	1.05%	-1.19%	1.83%	0.00%	0.57%
Net Operating Profit after Tax (NOPAT)	0.43	0.60	-0.08	4.35	4.73	-5.44	-1.37	0.26	1.29	0.19	-2.49
NOPAT Margin	1.09%	1.47%	-0.19%	10.46%	11.17%	-13.23%	-3.32%	0.62%	2.77%	0.37%	-5.21%
Net Nonoperating Expense Percent (NNEP)	0.74%	-0.08%	0.32%	2.06%	-7.72%	4.61%	0.76%	1.20%	0.72%	0.28%	-1.00%
Return On Investment Capital (ROIC_SIMPLE)	-	0.28%	-	-	-	-2.38%	-	-	-	0.08%	-0.78%
Cost of Revenue to Revenue	31.47%	29.10%	29.21%	29.73%	33.72%	32.08%	32.75%	29.36%	26.90%	31.75%	27.12%
SG&A Expenses to Revenue	30.12%	31.40%	38.38%	35.49%	36.86%	39.38%	39.94%	39.03%	38.99%	38.08%	48.92%
R&D to Revenue	35.88%	35.44%	32.02%	29.48%	30.96%	29.93%	31.43%	30.36%	29.12%	28.79%	30.62%
Operating Expenses to Revenue	66.80%	67.64%	71.20%	65.76%	68.60%	70.05%	71.99%	70.01%	68.53%	67.23%	80.33%
Earnings before Interest and Taxes (EBIT)	0.69	1.32	-0.17	1.88	-0.98	-0.88	-1.96	0.26	2.12	0.51	-2.69
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	3.27	3.83	2.24	4.29	1.39	1.43	0.10	2.40	3.99	2.44	-0.27
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	4.50	5.08	7.50	7.62	5.58	5.37	5.72	6.02	5.10	4.27	3.00
Price to Tangible Book Value (P/TBV)	5.37	6.00	8.79	8.81	6.50	6.20	6.58	6.87	5.78	4.80	7.95
Price to Revenue (P/Rev)	6.63	7.18	10.28	10.49	7.48	7.42	7.74	8.39	7.20	5.85	4.02
Price to Earnings (P/E)	0.00	0.00	1,488.26	188.47	457.35	396.05	546.57	0.00	278.65	258.80	527.13
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.07%	0.53%	0.22%	0.25%	0.18%	0.00%	0.36%	0.39%	0.19%
Enterprise Value to Invested Capital (EV/IC)	9.16	13.09	18.37	15.81	12.76	11.71	11.37	11.19	9.20	7.13	2.89
Enterprise Value to Revenue (EV/Rev)	5.79	6.24	9.42	9.73	6.66	6.60	7.00	7.69	6.49	5.21	4.10
Enterprise Value to EBITDA (EV/EBITDA)	655.43	111.94	129.04	116.07	93.56	116.98	161.66	240.64	139.86	104.76	99.06
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	1,446.14	425.22	536.56	0.00	0.00	0.00	0.00	1,000.09	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	60.74	5,615.23	327.01	1,152.18	0.00	0.00	343.95	0.00	1,621.79	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	94.60	28.70	51.83	83.05	29.85	74.95	84.94	63.84	109.35	96.37	37.71
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	38.96	0.00	0.00	587.37	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.28
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.27
Financial Leverage	-0.60	-0.65	-0.63	-0.57	-0.59	-0.63	-0.58	-0.53	-0.55	-0.53	-0.23
Leverage Ratio	1.27	1.29	1.28	1.28	1.29	1.30	1.29	1.29	1.28	1.27	1.43
Compound Leverage Factor	4.05	1.04	-5.73	2.01	-1.36	-0.21	0.18	8.51	2.19	3.67	1.59
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	21.61%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.71%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	20.91%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	78.39%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	8.93
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	1.89
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	8.63
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-282.51
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-59.69
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-273.29
Altman Z-Score	9.31	9.94	15.24	16.25	12.87	12.75	13.23	13.39	11.68	9.81	3.52
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	3.45	3.32	3.56	3.92	3.89	3.89	3.62	3.49	3.32	3.40	2.19
Quick Ratio	3.26	3.12	3.33	3.56	3.53	3.55	3.29	3.14	2.89	3.11	1.83
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-4.46	9.12	-0.65	-15	5.65	-28	-24	-14	-33	-38	-163
Operating Cash Flow to CapEx	66.24%	1,407.25%	-33.84%	-181.77%	657.96%	84.26%	-92.04%	12.86%	201.85%	27.47%	105.33%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-525.55
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	27.78
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	1.41
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.51	0.54	0.57	0.60	0.60	0.58	0.59	0.57	0.58	0.59	0.55
Accounts Receivable Turnover	3.11	3.61	3.67	3.34	3.44	3.81	3.53	2.82	3.89	3.03	3.35
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	3.60	3.94	3.97	4.00	4.32	4.28	4.28	3.98	4.07	4.18	4.01
Accounts Payable Turnover	11.38	8.02	9.34	17.17	12.88	11.57	8.88	16.39	10.15	10.01	7.08
Days Sales Outstanding (DSO)	117.33	101.05	99.33	109.41	105.97	95.82	103.45	129.23	93.79	120.56	108.89
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	32.06	45.49	39.09	21.25	28.34	31.56	41.09	22.28	35.97	36.46	51.52
Cash Conversion Cycle (CCC)	85.27	55.56	60.24	88.16	77.62	64.26	62.36	106.95	57.83	84.10	57.37
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	87	71	80	100	86	93	103	114	120	131	263
Invested Capital Turnover	1.63	1.98	1.96	1.80	1.91	2.02	1.82	1.55	1.65	1.60	1.02
Increase / (Decrease) in Invested Capital	4.89	-8.53	0.57	20	-0.92	23	23	14	34	38	161
Enterprise Value (EV)	798	927	1,468	1,583	1,100	1,094	1,165	1,279	1,107	935	762
Market Capitalization	914	1,066	1,601	1,707	1,235	1,230	1,288	1,397	1,227	1,050	747
Book Value per Share	$5.45	$5.62	$5.65	$5.92	$5.81	$5.98	$5.85	$6.05	$6.21	$6.35	$6.37
Tangible Book Value per Share	$4.56	$4.76	$4.82	$5.12	$4.99	$5.18	$5.08	$5.29	$5.48	$5.64	$2.40
Total Capital	203	210	213	224	222	229	225	232	240	246	318
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	69
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	66
Net Debt	-116	-139	-134	-124	-135	-136	-123	-118	-120	-115	15
Capital Expenditures (CapEx)	2.12	1.73	2.90	3.10	2.92	2.41	2.02	5.32	4.60	5.85	8.20
Debt-free, Cash-free Net Working Capital (DFCFNWC)	12	-3.97	5.35	28	9.04	11	13	20	14	31	24
Debt-free Net Working Capital (DFNWC)	128	135	139	152	144	147	136	138	134	145	79
Net Working Capital (NWC)	128	135	139	152	144	147	136	138	134	145	76
Net Nonoperating Expense (NNE)	-0.95	0.11	-0.43	-2.48	9.70	-6.33	-0.98	-1.45	-0.92	-0.35	0.54
Net Nonoperating Obligations (NNO)	-116	-139	-134	-124	-135	-136	-123	-118	-120	-115	15
Total Depreciation and Amortization (D&A)	2.58	2.51	2.41	2.42	2.37	2.31	2.06	2.14	1.87	1.93	2.42
Debt-free, Cash-free Net Working Capital to Revenue	8.73%	-2.67%	3.43%	17.35%	5.47%	6.92%	7.59%	11.99%	7.93%	17.02%	13.13%
Debt-free Net Working Capital to Revenue	92.90%	91.02%	89.13%	93.57%	87.40%	88.65%	81.45%	82.81%	78.39%	81.04%	42.26%
Net Working Capital to Revenue	92.90%	91.02%	89.13%	93.57%	87.40%	88.65%	81.45%	82.81%	78.39%	81.04%	41.05%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.04	$0.01	$0.01	$0.18	($0.13)	$0.02	($0.01)	$0.04	$0.06	$0.02	($0.08)
Adjusted Weighted Average Basic Shares Outstanding	37.23M	37.31M	37.74M	37.86M	38.19M	38.02M	38.50M	38.62M	38.71M	38.60M	39.09M
Adjusted Diluted Earnings per Share	$0.04	$0.01	$0.01	$0.17	($0.13)	$0.03	($0.01)	$0.04	$0.06	$0.01	($0.08)
Adjusted Weighted Average Diluted Shares Outstanding	38.05M	37.31M	38.86M	39.08M	38.19M	38.94M	38.50M	39.13M	39.11M	39.05M	39.09M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	37.38M	37.77M	37.85M	38.13M	38.26M	38.58M	38.40M	38.75M	38.77M	39.11M	39.14M
Normalized Net Operating Profit after Tax (NOPAT)	0.43	0.93	-0.12	1.31	-0.69	-0.61	-1.37	0.26	1.29	0.36	-2.49
Normalized NOPAT Margin	1.09%	2.29%	-0.29%	3.16%	-1.63%	-1.49%	-3.32%	0.62%	2.77%	0.72%	-5.21%
Pre Tax Income Margin	5.52%	2.65%	1.83%	7.08%	2.44%	0.35%	-0.65%	4.18%	7.82%	2.94%	-6.27%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-8.63
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-8.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-35.01
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-34.38
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	-205.93%	-655.32%	1,551.39%	0.00%	27.51%	23.93%	324.23%	-275.59%	156.62%	170.05%	0.00%

Key Financial Trends

In Q1 2025, PDF Solutions reported operating revenue of $47.8 million, up 15.7% year-over-year, driven by strong demand for its data-driven software and services. Gross margin expanded to 72.9%, reflecting improved operational leverage. However, the company incurred a net loss of $3.0 million (–$0.08 per share) and operating income of –$3.6 million as R&D and SG&A investments remained high. PDF Solutions generated $8.6 million of operating cash flow in the quarter, bolstering its already healthy liquidity position.

Revenue growth of 15.7% year-over-year in Q1 2025, the eighth consecutive quarter of healthy top-line expansion.
Robust gross margin of 72.9% in Q1 2025, up from 68.2% in Q4 2024, reflecting operating leverage and efficient delivery.
Strong operating cash flow of $8.6 million in Q1 2025, compared to a use of cash of $1.9 million in Q1 2024.
Solid liquidity with a 2.19 current ratio: $140.6 million of current assets versus $64.3 million of current liabilities.
Altman Z-score of 3.52, indicating a low risk of financial distress.
Invested $129.7 million in acquisitions during Q1 2025 to accelerate growth initiatives.
Raised $69.2 million of debt in Q1 2025, resulting in a modest net debt position of $14.5 million.
Current valuation metrics: P/S of 4.02× and P/Tangible BV of 7.95×, in line with peers.
Net loss of $3.0 million (–$0.08/share) in Q1 2025, compared to a net income of $0.5 million in Q4 2024.
Operating income of –$3.6 million and NOPAT margin of –5.2% reflect continued high R&D and SG&A spending.

06/24/25 12:46 AMAI Generated. May Contain Errors.

Frequently Asked Questions About PDF Solutions' Financials

When does PDF Solutions' fiscal year end?

According to the most recent income statement we have on file, PDF Solutions' financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has PDF Solutions' net income changed over the last 10 years?

PDF Solutions' net income appears to be on an upward trend, with a most recent value of $4.06 million in 2024, falling from $18.46 million in 2014. The previous period was $3.11 million in 2023. See PDF Solutions' forecast for analyst expectations on what’s next for the company.

What is PDF Solutions' operating income?

PDF Solutions' total operating income in 2024 was $935 thousand, based on the following breakdown:

Total Gross Profit: $125.32 million
Total Operating Expenses: $124.39 million

How has PDF Solutions' revenue changed over the last 10 years?

Over the last 10 years, PDF Solutions' total revenue changed from $100.16 million in 2014 to $179.47 million in 2024, a change of 79.2%.

How much debt does PDF Solutions have?

PDF Solutions' total liabilities were at $69.25 million at the end of 2024, a 13.2% increase from 2023, and a 343.5% increase since 2014.

How much cash does PDF Solutions have?

In the past 10 years, PDF Solutions' cash and equivalents has ranged from $27.68 million in 2021 to $126.16 million in 2015, and is currently $90.59 million as of their latest financial filing in 2024.

How has PDF Solutions' book value per share changed over the last 10 years?

Over the last 10 years, PDF Solutions' book value per share changed from 5.26 in 2014 to 6.35 in 2024, a change of 20.6%.

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This page (NASDAQ:PDFS) was last updated on 6/24/2025 by MarketBeat.com Staff

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