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PDF Solutions (PDFS) Financials

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$44.48 -0.33 (-0.74%)
As of 08/31/2026 04:00 PM Eastern
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Annual Income Statements for PDF Solutions

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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 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 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 12 9.10 -1.34 -7.72 -5.42 -40 -21 -3.43 3.11 4.06 -0.64
Consolidated Net Income / (Loss)		 12 9.10 -1.34 -7.72 -5.42 -40 -21 -3.43 3.11 4.06 -0.64
Net Income / (Loss) Continuing Operations		 12 9.10 -1.34 -7.72 -5.42 -40 -21 -3.43 3.11 4.06 -0.64
Total Pre-Tax Income 		19 13 -0.07 -9.46 -7.36 -18 -18 0.47 4.87 6.58 3.20
Total Operating Income		 19 13 0.19 -9.95 -7.64 -17 -19 -2.09 -0.15 0.94 5.85
Total Gross Profit		 59 63 54 43 52 51 67 101 114 125 158
Total Revenue		 98 107 102 86 86 88 111 149 166 179 219
Operating Revenue		 98 107 102 86 86 88 111 149 166 179 219
Total Cost of Revenue		 39 44 48 43 33 37 44 48 52 54 61
Operating Cost of Revenue		 39 44 48 43 33 37 44 48 52 54 61
Total Operating Expenses		 40 50 54 53 60 68 86 103 114 124 153
Selling, General & Admin Expense		 20 22 24 24 26 33 38 45 62 70 85
Research & Development Expense		 19 28 30 28 33 35 44 56 51 54 64
Amortization Expense		 0.20 0.43 0.40 0.44 0.61 0.74 1.26 1.27 1.29 0.90 3.58
Total Other Income / (Expense), net		 0.18 -0.01 -0.26 0.49 0.28 -1.27 0.68 2.56 5.02 5.64 -2.65
Interest Expense		 - - - - - - - - 0.00 0.00 3.96
Other Income / (Expense), net		 0.18 -0.01 -0.26 0.49 0.28 -1.27 - - 5.02 5.64 1.31
Income Tax Expense		 7.02 3.85 1.26 -1.74 -1.94 22 3.17 3.90 1.76 2.52 3.84
Basic Earnings per Share		 $0.39 $0.29 ($0.04) ($0.24) ($0.17) ($1.17) ($0.58) ($0.09) $0.08 $0.11 ($0.02)
Weighted Average Basic Shares Outstanding		 31.42M 31.37M 32.04M 32.17M 32.41M 34.46M 37.14M 37.31M 38.02M 38.60M 39.32M
Diluted Earnings per Share		 $0.39 $0.28 ($0.04) ($0.24) ($0.17) ($1.17) ($0.58) ($0.09) $0.08 $0.10 ($0.02)
Weighted Average Diluted Shares Outstanding		 32.16M 32.43M 32.04M 32.17M 32.41M 34.46M 37.14M 37.31M 38.94M 39.05M 39.32M
Weighted Average Basic & Diluted Shares Outstanding		 31.80M 31.40M 32.30M 32.60M 32.78M 37.15M 37.71M 37.77M 38.58M 39.11M 39.89M

Quarterly Income Statements for PDF Solutions

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

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Income / (Loss) Attributable to Common Shareholders		 0.89 -0.39 1.71 2.21 0.54 -3.03 1.15 1.29 -0.05 4.79 4.27
Consolidated Net Income / (Loss)		 0.89 -0.39 1.71 2.21 0.54 -3.03 1.15 1.29 -0.05 4.79 4.27
Net Income / (Loss) Continuing Operations		 0.89 -0.39 1.71 2.21 0.54 -3.03 1.15 1.29 -0.05 4.79 4.27
Total Pre-Tax Income 		0.14 -0.27 1.74 3.63 1.47 -3.00 0.07 3.49 2.64 5.82 4.62
Total Operating Income		 -0.88 -1.96 0.26 2.12 0.51 -3.56 1.12 4.83 3.46 6.31 5.06
Total Gross Profit		 28 28 29 34 34 35 37 41 45 43 42
Total Revenue		 41 41 42 46 50 48 52 57 62 60 62
Operating Revenue		 41 41 42 46 50 48 52 57 62 60 62
Total Cost of Revenue		 13 14 12 12 16 13 15 16 17 17 19
Operating Cost of Revenue		 13 14 12 12 16 13 15 16 17 17 19
Total Operating Expenses		 29 30 29 32 34 38 36 36 42 37 37
Selling, General & Admin Expense		 16 16 16 18 19 23 20 20 22 17 19
Research & Development Expense		 12 13 13 14 14 15 15 15 19 18 17
Amortization Expense		 0.31 0.26 0.26 0.20 0.18 0.38 1.07 1.07 1.07 1.06 1.06
Total Other Income / (Expense), net		 1.02 1.69 1.48 1.51 0.96 0.56 -1.05 -1.34 -0.82 -0.50 -0.44
Interest Expense		 - 0.00 0.00 0.00 - 0.31 1.24 1.24 1.16 1.09 1.11
Other Income / (Expense), net		 - 1.69 1.48 1.51 - 0.87 0.20 -0.10 0.35 0.59 0.67
Income Tax Expense		 -0.74 0.13 0.04 1.42 0.94 0.04 -1.08 2.19 2.69 1.03 0.35
Basic Earnings per Share		 $0.02 ($0.01) $0.04 $0.06 $0.02 ($0.08) $0.03 $0.03 - $0.12 $0.10
Weighted Average Basic Shares Outstanding		 38.02M 38.50M 38.62M 38.71M 38.60M 39.09M 39.15M 39.50M 39.32M 39.86M 40.93M
Diluted Earnings per Share		 $0.03 ($0.01) $0.04 $0.06 $0.01 ($0.08) $0.03 $0.03 - $0.12 $0.10
Weighted Average Diluted Shares Outstanding		 38.94M 38.50M 39.13M 39.11M 39.05M 39.09M 39.26M 39.62M 39.32M 40.38M 41.78M
Weighted Average Basic & Diluted Shares Outstanding		 38.58M 38.40M 38.75M 38.77M 39.11M 39.14M 39.49M 39.51M 39.89M 39.92M 42.23M

Annual Cash Flow Statements for PDF Solutions

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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 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 12/31/2025
Net Change in Cash & Equivalents		 11 -9.37 -16 -5.18 1.52 -64 -6.13 92 -21 -8.38 -48
Net Cash From Operating Activities		 30 2.00 11 13 25 22 4.24 32 15 9.70 24
Net Cash From Continuing Operating Activities		 30 2.00 11 13 25 22 4.24 32 15 9.78 24
Net Income / (Loss) Continuing Operations		 12 9.10 -1.34 -7.72 -5.42 -40 -21 -3.43 3.11 4.06 -0.64
Consolidated Net Income / (Loss)		 12 9.10 -1.34 -7.72 -5.42 -40 -21 -3.43 3.11 4.06 -0.64
Depreciation Expense		 2.65 3.58 4.79 4.97 6.03 6.73 6.22 5.53 4.99 3.63 4.09
Amortization Expense		 0.37 0.81 0.87 1.39 1.63 2.00 3.99 4.85 4.52 4.36 10
Non-Cash Adjustments To Reconcile Net Income		 9.74 9.83 12 11 12 13 15 21 21 28 23
Changes in Operating Assets and Liabilities, net		 5.17 -21 -5.68 3.58 10 40 0.75 4.11 -19 -30 -13
Net Cash From Investing Activities		 -10 -11 -14 -13 -13 -151 -4.67 85 -29 -5.94 -137
Net Cash From Continuing Investing Activities		 -10 -11 -14 -13 -13 -151 -4.67 85 -29 -5.94 -137
Purchase of Property, Plant & Equipment		 -4.78 -11 -10 -13 -11 -6.97 -4.05 -8.43 -11 -18 -33
Acquisitions		 -5.55 0.00 -3.84 0.00 -2.66 -29 -3.05 -0.15 -1.97 0.00 -130
Purchase of Investments		 - - - - 0.00 -131 -169 -58 -60 -54 -2.94
Sale of Property, Plant & Equipment		 - - - - - - 0.00 0.00 - - 0.64
Sale and/or Maturity of Investments		 - - - - 0.00 17 171 152 44 68 27
Other Investing Activities, net		 - - - - - - - 0.00 0.11 -1.95 0.00
Net Cash From Financing Activities		 -9.23 0.03 -12 -5.20 -9.84 65 -5.53 -24 -5.89 -11 65
Net Cash From Continuing Financing Activities		 -9.23 0.03 -12 -5.20 -9.84 65 -5.53 -24 -5.89 -11 65
Repayment of Debt		 -0.35 - - - - - - - 0.00 0.00 -2.78
Repurchase of Common Equity		 -15 -2.18 -13 -5.25 -9.64 0.00 -4.52 -22 -0.74 -6.90 -0.24
Issuance of Debt		 - - - - - - - - 0.00 0.00 70
Issuance of Common Equity		 1.38 1.56 1.87 1.83 1.53 67 1.04 3.01 4.32 4.20 4.24
Other Financing Activities, net		 4.26 0.66 -0.67 -1.79 -1.73 -1.95 -2.04 -4.85 -9.47 -8.53 -6.21
Cash Interest Paid		 0.02 - - - - - - - 0.00 0.00 3.72
Cash Income Taxes Paid		 4.98 3.64 2.24 2.58 2.69 2.71 1.87 2.85 3.78 2.56 2.70

Quarterly Cash Flow Statements for PDF Solutions

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 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Change in Cash & Equivalents		 -13 -14 6.73 4.44 -5.83 -47 -6.32 -1.54 6.34 -11 84
Net Cash From Operating Activities		 2.03 -1.86 0.68 9.28 1.61 8.64 -5.22 3.29 17 1.67 16
Net Cash From Continuing Operating Activities		 2.03 -1.86 0.68 9.28 1.61 8.64 -5.22 3.29 17 1.67 16
Net Income / (Loss) Continuing Operations		 0.89 -0.39 1.71 2.21 0.54 -3.03 1.15 1.29 -0.05 4.79 4.27
Consolidated Net Income / (Loss)		 0.89 -0.39 1.71 2.21 0.54 -3.03 1.15 1.29 -0.05 4.79 4.27
Depreciation Expense		 1.21 1.06 1.07 0.77 0.73 0.69 0.80 1.15 1.45 1.56 2.14
Amortization Expense		 1.10 0.99 1.07 1.10 1.20 1.73 2.62 2.77 3.00 2.82 2.76
Non-Cash Adjustments To Reconcile Net Income		 7.06 6.02 3.61 6.06 9.95 6.28 5.48 7.53 4.19 6.82 6.47
Changes in Operating Assets and Liabilities, net		 -8.23 -9.55 -6.77 -0.86 -11 2.97 -15 -9.46 8.75 -14 0.76
Net Cash From Investing Activities		 -15 -2.64 6.84 -4.01 -6.12 -124 -0.39 -3.32 -9.79 -11 -14
Net Cash From Continuing Investing Activities		 -15 -2.64 6.84 -4.01 -6.12 -124 -0.39 -3.32 -9.79 -11 -14
Purchase of Property, Plant & Equipment		 -2.41 -2.02 -5.32 -4.60 -5.85 -8.20 -8.53 -6.33 -9.79 -11 -14
Net Cash From Financing Activities		 -0.31 -8.75 -0.40 -1.76 -0.33 68 -1.31 -1.19 -0.89 -2.15 81
Net Cash From Continuing Financing Activities		 -0.31 -8.75 -0.40 -1.76 -0.33 68 -1.31 -1.19 -0.89 -2.15 81
Repayment of Debt		 - - - - - -0.40 - -0.63 -0.63 -0.63 -0.14
Issuance of Common Equity		 - 1.92 - 2.16 - 2.13 0.04 2.09 0.00 2.19 82
Other Financing Activities, net		 -0.31 -3.77 -0.40 -3.91 -0.33 -3.32 -0.22 -2.41 -0.27 -3.71 -0.39
Effect of Exchange Rate Changes		 0.40 -0.47 -0.39 0.93 -0.99 0.40 0.59 -0.31 - -0.10 0.08
Cash Interest Paid		 - - - - - 0.00 - 1.16 1.10 1.01 1.02
Cash Income Taxes Paid		 0.22 0.67 0.62 0.77 0.50 0.23 1.47 0.45 0.55 0.82 0.38

Annual Balance Sheets for PDF Solutions

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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 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 12/31/2025
Total Assets		 192 222 224 226 240 288 274 279 290 315 419
Total Current Assets		 163 170 164 157 148 193 189 193 198 206 164
Cash & Equivalents		 126 117 101 96 98 30 28 120 99 91 42
Accounts Receivable		 33 48 58 52 41 34 40 42 45 74 83
Prepaid Expenses		 3.66 5.34 5.07 9.56 9.32 14 8.19 12 17 17 39
Plant, Property, & Equipment, net		 11 19 25 36 41 39 35 40 37 48 82
Total Noncurrent Assets		 17 33 35 33 51 55 50 45 55 61 173
Goodwill		 0.22 0.22 1.92 1.92 2.29 16 14 14 15 15 95
Intangible Assets		 5.03 4.22 6.07 5.06 6.22 25 21 18 16 12 52
Noncurrent Deferred & Refundable Income Taxes		 10 16 16 19 25 0.25 0.08 0.06 0.16 0.04 0.07
Other Noncurrent Operating Assets		 1.65 13 11 6.97 17 14 15 13 24 34 26
Total Liabilities & Shareholders' Equity		 192 222 224 226 240 288 274 279 290 315 419
Total Liabilities		 17 24 26 26 43 53 54 69 61 69 148
Total Current Liabilities		 14 19 20 20 28 42 44 58 51 61 72
Short-Term Debt		 - - - - - - - - - 0.00 2.24
Accounts Payable		 1.29 2.21 2.54 2.45 7.64 4.40 5.55 6.39 2.56 17 26
Current Deferred Revenue		 5.97 8.28 7.98 9.11 12 21 24 28 27 25 19
Current Employee Benefit Liabilities		 4.81 5.96 6.49 4.73 5.07 8.34 9.50 17 15 17 22
Other Current Liabilities		 - - - 0.00 1.87 1.93 1.76 1.41 1.53 1.68 1.98
Total Noncurrent Liabilities		 3.01 5.00 6.17 6.58 15 11 10 10 10 8.71 76
Long-Term Debt		 - - - - - - - - - 0.00 65
Noncurrent Deferred Revenue		 2.54 3.35 3.90 3.75 5.37 2.96 5.10 2.62 2.97 2.92 4.27
Other Noncurrent Operating Liabilities		 0.47 1.65 2.27 2.83 10 7.91 5.26 7.84 7.38 5.80 6.75
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00
Total Equity & Noncontrolling Interests		 174 199 198 200 196 235 220 210 229 246 271
Total Preferred & Common Equity		 174 199 198 200 196 235 220 210 229 246 271
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		 174 199 198 200 196 235 220 210 229 246 271
Common Stock		 266 281 298 311 325 407 423 447 473 503 534
Retained Earnings		 -40 -26 -27 -30 -36 -76 -98 -101 -98 -94 -95
Treasury Stock		 -50 -55 -72 -79 -92 -96 -105 -134 -144 -159 -166
Accumulated Other Comprehensive Income / (Loss)		 -1.54 -1.99 -0.71 -1.28 -1.48 -0.23 -1.06 -2.55 -2.39 -3.53 -2.05

Quarterly Balance Sheets for PDF Solutions

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 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026
Period end date 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026 6/30/2026
Total Assets		 279 290 282 287 298 307 390 391 406 431 519
Total Current Assets		 193 204 194 187 193 191 141 135 146 176 253
Cash & Equivalents		 114 100 112 85 92 96 44 37 36 31 115
Accounts Receivable		 47 61 41 47 56 47 64 69 75 96 91
Prepaid Expenses		 13 19 18 17 19 25 23 25 35 48 47
Plant, Property, & Equipment, net		 42 43 38 36 41 46 57 62 72 90 95
Total Noncurrent Assets		 44 43 50 63 64 70 193 194 188 164 172
Goodwill		 14 14 15 15 15 15 97 97 97 95 95
Intangible Assets		 17 16 16 15 14 13 58 56 54 50 48
Noncurrent Deferred & Refundable Income Taxes		 0.09 0.08 0.03 0.15 0.15 0.17 0.22 1.21 0.20 0.04 0.13
Other Noncurrent Operating Assets		 13 12 19 34 35 42 38 40 37 19 29
Total Liabilities & Shareholders' Equity		 279 290 282 287 298 307 390 391 406 431 519
Total Liabilities		 66 66 61 61 66 67 141 134 142 150 147
Total Current Liabilities		 54 52 50 52 55 58 64 57 66 75 73
Short-Term Debt		 - - - - - - 2.24 2.24 2.24 2.24 2.86
Accounts Payable		 6.29 2.28 2.63 5.73 4.22 7.50 9.39 16 23 24 21
Current Deferred Revenue		 27 32 30 30 32 29 27 23 21 23 20
Current Employee Benefit Liabilities		 14 11 12 9.49 11 13 11 14 17 24 27
Other Current Liabilities		 1.57 1.54 1.50 1.63 1.61 1.71 1.59 1.75 1.97 2.07 2.09
Total Noncurrent Liabilities		 12 14 11 9.61 10 9.16 77 77 76 75 73
Long-Term Debt		 - - - - - - 66 66 65 64 64
Noncurrent Deferred Revenue		 2.64 2.43 2.82 2.98 2.67 2.88 2.93 2.96 3.30 4.58 4.58
Other Noncurrent Operating Liabilities		 8.96 12 8.15 6.63 7.71 6.27 7.35 7.82 7.32 6.34 5.17
Commitments & Contingencies		 0.00 0.00 0.00 - - - - 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 213 224 222 225 232 240 249 258 264 280 372
Total Preferred & Common Equity		 213 224 222 225 232 240 249 258 264 280 372
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 213 224 222 225 232 240 249 258 264 280 372
Common Stock		 454 459 467 481 487 496 512 518 527 542 630
Retained Earnings		 -101 -94 -99 -98 -97 -95 -97 -96 -95 -90 -86
Treasury Stock		 -138 -138 -144 -155 -155 -159 -163 -163 -166 -170 -170
Accumulated Other Comprehensive Income / (Loss)		 -2.28 -2.67 -3.23 -2.93 -3.26 -2.25 -3.08 -1.78 -2.03 -2.36 -2.38

Annual Metrics And Ratios for PDF Solutions

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

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 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 12/31/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -2.18% 9.68% -5.20% -15.78% -0.24% 2.88% 26.14% 33.76% 11.64% 8.22% 22.04%
EBITDA Growth		 -25.20% -22.71% -67.81% -155.53% 109.67% -3,213.33% 5.91% 194.23% 12.96% -4.58% 46.69%
EBIT Growth		 -30.53% -33.29% -100.57% -12,682.43% 22.19% -145.38% -5.20% 88.99% 92.78% 719.21% 8.77%
NOPAT Growth		 -33.14% -25.88% -98.54% -5,337.89% 23.27% -119.89% -13.16% 214.76% -100.63% 698.77% -302.75%
Net Income Growth		 -32.80% -26.63% -114.69% -477.11% 29.78% -644.98% 46.76% 84.04% 190.55% 30.66% -115.78%
EPS Growth		 -32.76% -28.21% -114.29% -500.00% 29.17% -588.24% 50.43% 84.48% 188.89% 25.00% -120.00%
Operating Cash Flow Growth		 5.83% -93.41% 427.25% 26.49% 84.36% -11.42% -80.52% 661.21% -54.80% -33.54% 147.89%
Free Cash Flow Firm Growth		 -39.53% -335.75% 39.60% 9.23% 98.59% -1,161.35% -43.01% 789.79% -195.37% -63.74% -346.33%
Invested Capital Growth		 3.86% 70.34% 18.39% 6.80% -4.97% -9.48% -11.04% -10.75% 31.90% 40.38% 125.54%
Revenue Q/Q Growth		 -1.99% 4.23% -1.60% -7.59% 3.43% -0.22% 7.26% 7.71% 0.36% 5.26% 5.96%
EBITDA Q/Q Growth		 -15.65% -0.22% -25.80% -373.22% 115.81% -146.89% 7.36% 579.89% -20.43% 12.74% 46.45%
EBIT Q/Q Growth		 -18.96% -2.23% -103.41% -86.20% 18.66% -47.13% 3.20% 76.98% -107.37% 305.95% 146.67%
NOPAT Q/Q Growth		 -18.73% -1.28% -96.74% -84.13% 20.18% -36.79% 3.20% 339.97% -110.09% 251.30% -1,448.04%
Net Income Q/Q Growth		 -19.23% 1.43% -131.68% -6.65% 24.77% -389.60% 55.17% 68.58% 14.96% -7.90% -1,107.55%
EPS Q/Q Growth		 -18.75% -3.45% -130.77% -4.35% 22.73% -350.00% 57.04% 68.97% 33.33% -16.67% -100.00%
Operating Cash Flow Q/Q Growth		 32.35% -80.18% 63.95% 0.08% -9.95% 74.89% -71.20% 282.72% -60.38% -4.18% 189.17%
Free Cash Flow Firm Q/Q Growth		 144.34% -103.45% 35.13% -31.21% -107.13% 76.52% -879.08% 311.41% -1,311.61% -7.71% 5.69%
Invested Capital Q/Q Growth		 -1.77% 16.47% -0.46% -0.39% 4.04% -7.47% -3.49% -18.70% 8.38% 9.01% -0.09%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 60.17% 58.64% 53.35% 50.11% 60.89% 58.24% 60.21% 67.75% 68.79% 69.83% 72.32%
EBITDA Margin		 22.90% 16.14% 5.48% -3.61% 0.35% -10.61% -7.91% 5.57% 5.64% 4.97% 9.76%
Operating Margin		 19.64% 12.07% 0.19% -11.60% -8.92% -19.07% -17.11% -1.41% -0.09% 0.52% 2.67%
EBIT Margin		 19.82% 12.06% -0.07% -11.03% -8.60% -20.51% -17.11% -1.41% -0.09% 0.52% 3.27%
Profit (Net Income) Margin		 12.66% 8.47% -1.31% -8.99% -6.33% -45.84% -19.35% -2.31% 1.87% 2.26% -0.29%
Tax Burden Percent		 63.88% 70.26% 1,806.76% 81.57% 73.61% 223.49% 117.31% -729.57% 63.77% 61.67% -19.99%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 96.41% -22.47% -3,224.50% 703.64% 44.73%
Effective Tax Rate		 36.12% 29.74% 0.00% 0.00% 0.00% 0.00% 0.00% 829.57% 36.23% 38.33% 119.99%
Return on Invested Capital (ROIC)		 26.01% 14.00% 0.15% -6.94% -5.29% -12.52% -15.78% 20.32% -0.12% 0.51% -0.55%
ROIC Less NNEP Spread (ROIC-NNEP)		 25.92% 14.00% 1.50% -6.18% -5.21% 11.04% -10.04% 33.70% -2.45% -2.27% -1.72%
Return on Net Nonoperating Assets (RNNOA)		 -18.63% -9.12% -0.82% 3.06% 2.55% -6.22% 6.32% -21.92% 1.53% 1.19% 0.30%
Return on Equity (ROE)		 7.38% 4.88% -0.67% -3.88% -2.74% -18.74% -9.46% -1.60% 1.41% 1.71% -0.25%
Cash Return on Invested Capital (CROIC)		 22.22% -38.04% -16.70% -13.52% -0.19% -2.57% -4.09% 31.68% -27.63% -33.09% -77.68%
Operating Return on Assets (OROA)		 10.52% 6.26% -0.03% -4.20% -3.16% -6.85% -6.77% -0.76% -0.05% 0.31% 1.95%
Return on Assets (ROA)		 6.72% 4.40% -0.60% -3.43% -2.33% -15.31% -7.66% -1.24% 1.09% 1.34% -0.17%
Return on Common Equity (ROCE)		 7.38% 4.88% -0.67% -3.88% -2.74% -18.74% -9.46% -1.60% 1.41% 1.71% -0.25%
Return on Equity Simple (ROE_SIMPLE)		 7.12% 4.58% -0.67% -3.86% -2.76% -17.21% -9.79% -1.63% 1.36% 1.65% 0.00%
Net Operating Profit after Tax (NOPAT)		 12 9.11 0.13 -6.97 -5.35 -12 -13 15 -0.10 0.58 -1.17
NOPAT Margin		 12.55% 8.48% 0.13% -8.12% -6.25% -13.35% -11.98% 10.27% -0.06% 0.32% -0.53%
Net Nonoperating Expense Percent (NNEP)		 0.10% -0.01% -1.35% -0.76% -0.08% -23.56% -5.74% -13.38% 2.33% 2.78% 1.17%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - 7.27% -0.04% 0.23% -0.35%
Cost of Revenue to Revenue		 39.83% 41.36% 46.65% 49.89% 39.11% 41.76% 39.79% 32.25% 31.21% 30.17% 27.68%
SG&A Expenses to Revenue		 20.84% 20.52% 23.25% 27.90% 30.73% 37.11% 33.90% 30.52% 37.52% 38.96% 38.69%
R&D to Revenue		 19.49% 25.65% 29.53% 32.63% 38.26% 39.36% 39.42% 37.78% 30.59% 29.85% 29.33%
Operating Expenses to Revenue		 40.53% 46.57% 53.17% 61.71% 69.81% 77.31% 77.32% 69.16% 68.89% 69.31% 69.65%
Earnings before Interest and Taxes (EBIT)		 19 13 -0.07 -9.46 -7.36 -18 -19 -2.09 -0.15 0.94 7.16
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 22 17 5.58 -3.10 0.30 -9.34 -8.79 8.28 9.35 8.93 21
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.95 3.57 2.53 1.36 2.79 3.37 5.41 5.08 5.37 4.27 4.16
Price to Tangible Book Value (P/TBV)		 2.02 3.65 2.63 1.41 2.91 4.08 6.44 6.00 6.20 4.80 9.10
Price to Revenue (P/Rev)		 3.48 6.61 4.92 3.17 6.38 8.99 10.69 7.18 7.42 5.85 5.15
Price to Earnings (P/E)		 27.46 77.99 0.00 0.00 0.00 0.00 0.00 0.00 396.05 258.80 0.00
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		 3.64% 1.28% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.25% 0.39% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 4.46 7.23 4.12 1.70 4.55 7.24 13.19 13.09 11.71 7.13 3.89
Enterprise Value to Revenue (EV/Rev)		 2.19 5.52 3.93 2.05 5.24 7.34 9.43 6.24 6.60 5.21 5.26
Enterprise Value to EBITDA (EV/EBITDA)		 9.56 34.20 71.69 0.00 1,495.97 0.00 0.00 111.94 116.98 104.76 53.91
Enterprise Value to EBIT (EV/EBIT)		 11.05 45.79 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1,000.09 161.00
Enterprise Value to NOPAT (EV/NOPAT)		 17.46 65.12 3,009.85 0.00 0.00 0.00 0.00 60.74 0.00 1,621.79 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 7.07 296.60 37.96 13.19 18.25 29.65 246.75 28.70 74.95 96.37 47.90
Enterprise Value to Free Cash Flow (EV/FCFF)		 20.43 0.00 0.00 0.00 0.00 0.00 0.00 38.96 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 0.25
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 0.24
Financial Leverage		 -0.72 -0.65 -0.55 -0.50 -0.49 -0.56 -0.63 -0.65 -0.63 -0.53 -0.17
Leverage Ratio		 1.10 1.11 1.12 1.13 1.18 1.22 1.24 1.29 1.30 1.27 1.42
Compound Leverage Factor		 1.10 1.11 1.12 1.13 1.18 1.22 1.19 -0.29 -41.78 8.97 0.64
Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 19.82%
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% 0.66%
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% 19.16%
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% 80.18%
Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3.13
Net Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1.16
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 3.03
Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -57.31
Net Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -21.20
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 -55.40
Altman Z-Score		 13.19 19.44 12.72 7.04 8.20 9.30 13.46 9.90 12.76 9.81 5.11
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		 11.29 9.19 8.35 8.05 5.27 4.58 4.30 3.32 3.89 3.40 2.28
Quick Ratio		 11.04 8.91 8.09 7.56 4.94 4.25 4.11 3.12 3.55 3.11 1.74
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 11 -25 -15 -14 -0.19 -2.41 -3.45 24 -23 -37 -166
Operating Cash Flow to CapEx		 634.11% 17.73% 102.83% 101.69% 233.04% 312.61% 104.69% 383.13% 130.12% 54.73% 74.69%
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 -41.93
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 6.08
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 -2.06
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.53 0.52 0.46 0.38 0.37 0.33 0.40 0.54 0.58 0.59 0.60
Accounts Receivable Turnover		 2.75 2.63 1.93 1.57 1.86 2.35 2.99 3.61 3.81 3.03 2.80
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		 9.72 7.01 4.56 2.81 2.24 2.20 2.98 3.94 4.28 4.18 3.37
Accounts Payable Turnover		 37.24 25.41 20.04 17.16 6.64 6.11 8.88 8.02 11.57 10.01 2.83
Days Sales Outstanding (DSO)		 132.55 138.57 189.40 232.15 196.65 155.03 121.97 101.05 95.82 120.56 130.47
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)		 9.80 14.37 18.21 21.28 55.01 59.74 41.10 45.49 31.56 36.46 128.85
Cash Conversion Cycle (CCC)		 122.75 124.21 171.19 210.87 141.64 95.28 80.87 55.56 64.26 84.10 1.62
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 48 82 97 104 99 89 79 71 93 131 296
Invested Capital Turnover		 2.07 1.65 1.14 0.85 0.85 0.94 1.32 1.98 2.02 1.60 1.03
Increase / (Decrease) in Invested Capital		 1.79 34 15 6.61 -5.15 -9.34 -9.85 -8.53 23 38 165
Enterprise Value (EV)		 215 593 400 176 449 646 1,047 927 1,094 935 1,152
Market Capitalization		 341 710 502 272 546 791 1,187 1,066 1,230 1,050 1,127
Book Value per Share		 $5.55 $6.31 $6.21 $6.19 $6.06 $6.40 $5.88 $5.62 $5.98 $6.35 $6.86
Tangible Book Value per Share		 $5.38 $6.17 $5.96 $5.97 $5.80 $5.30 $4.93 $4.76 $5.18 $5.64 $3.13
Total Capital		 174 199 198 200 196 235 220 210 229 246 338
Total Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 67
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 65
Net Debt		 -126 -117 -101 -96 -98 -145 -140 -139 -136 -115 25
Capital Expenditures (CapEx)		 4.78 11 10 13 11 6.97 4.05 8.43 11 18 32
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 23 35 43 42 22 5.88 4.46 -3.97 11 31 52
Debt-free Net Working Capital (DFNWC)		 149 152 144 138 120 151 145 135 147 145 94
Net Working Capital (NWC)		 149 152 144 138 120 151 145 135 147 145 92
Net Nonoperating Expense (NNE)		 -0.12 0.01 1.47 0.75 0.07 29 8.19 19 -3.20 -3.48 -0.53
Net Nonoperating Obligations (NNO)		 -126 -117 -101 -96 -98 -145 -140 -139 -136 -115 25
Total Depreciation and Amortization (D&A)		 3.02 4.39 5.66 6.36 7.66 8.72 10 10 9.51 7.99 14
Debt-free, Cash-free Net Working Capital to Revenue		 23.10% 32.54% 42.21% 48.49% 25.68% 6.68% 4.01% -2.67% 6.92% 17.02% 23.75%
Debt-free Net Working Capital to Revenue		 151.87% 141.22% 141.61% 160.49% 139.72% 171.70% 130.27% 91.02% 88.65% 81.04% 43.03%
Net Working Capital to Revenue		 151.87% 141.22% 141.61% 160.49% 139.72% 171.70% 130.27% 91.02% 88.65% 81.04% 42.01%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.39 $0.29 ($0.04) ($0.24) ($0.17) ($1.17) ($0.58) ($0.09) $0.08 $0.11 ($0.02)
Adjusted Weighted Average Basic Shares Outstanding		 31.42M 31.37M 32.04M 32.17M 32.41M 34.46M 37.14M 37.31M 38.02M 38.60M 39.32M
Adjusted Diluted Earnings per Share		 $0.39 $0.28 ($0.04) ($0.24) ($0.17) ($1.17) ($0.58) ($0.09) $0.08 $0.10 ($0.02)
Adjusted Weighted Average Diluted Shares Outstanding		 32.16M 32.43M 32.04M 32.17M 32.41M 34.46M 37.14M 37.31M 38.94M 39.05M 39.32M
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		 31.21M 32.05M 32.30M 32.60M 32.78M 37.15M 37.71M 37.77M 38.58M 39.11M 39.89M
Normalized Net Operating Profit after Tax (NOPAT)		 12 9.11 0.13 -6.56 -5.28 -12 -11 -1.46 -0.10 0.58 4.09
Normalized NOPAT Margin		 12.55% 8.48% 0.13% -7.65% -6.17% -13.35% -9.97% -0.99% -0.06% 0.32% 1.87%
Pre Tax Income Margin		 19.82% 12.06% -0.07% -11.03% -8.60% -20.51% -16.49% 0.32% 2.94% 3.67% 1.46%
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 1.81
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -0.30
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 -6.33
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 -8.44
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		 117.07% 23.97% -1,003.59% -68.01% -177.91% 0.00% -21.05% -655.32% 23.93% 170.05% -38.13%

Quarterly Metrics And Ratios for PDF Solutions

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

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
DEI Shares Outstanding		 - - - - - - - - - 39,890,709.00 39,921,090.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - 39,890,709.00 39,921,090.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - 0.12 0.11
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 1.49% 1.35% 0.14% 9.58% 21.79% 15.66% 24.16% 23.07% 24.59% 25.85% 18.95%
EBITDA Growth		 -62.67% -95.72% -44.08% 187.39% 70.51% -114.99% 22.11% 57.22% 142.65% 4,308.96% 124.44%
EBIT Growth		 -166.24% -1,080.72% -85.93% 315.35% 158.38% -901.87% -24.67% 30.17% 158.01% 357.17% 336.41%
NOPAT Growth		 -1,013.60% -1,634.50% -94.06% -72.78% 103.44% -81.38% 6,881.50% 39.10% -133.59% 308.98% -74.06%
Net Income Growth		 83.64% -210.70% -75.05% 144.37% -39.23% -671.50% -32.79% -41.34% -108.91% 258.01% 272.69%
EPS Growth		 200.00% -200.00% -76.47% 146.15% -66.67% -700.00% -25.00% -50.00% 0.00% 250.00% 233.33%
Operating Cash Flow Growth		 -91.64% -89.61% 112.14% -51.66% -20.85% 564.02% -862.43% -64.56% 979.76% -80.63% 414.50%
Free Cash Flow Firm Growth		 -407.26% -3,586.68% 8.37% -681.00% -33.92% -580.91% -1,001.17% -429.96% -338.75% 71.20% 77.63%
Invested Capital Growth		 31.90% 28.33% 14.13% 39.57% 40.38% 156.99% 149.60% 146.08% 125.54% 19.84% 13.64%
Revenue Q/Q Growth		 -2.89% 0.45% 0.85% 11.40% 7.92% -4.61% 8.27% 10.41% 9.26% -3.64% 2.33%
EBITDA Q/Q Growth		 3.10% -93.29% 2,401.04% 66.14% -38.83% -110.98% 1,867.91% 82.50% -4.53% 36.64% -5.73%
EBIT Q/Q Growth		 10.87% -123.49% 113.47% 702.65% -75.84% -624.41% 148.90% 259.86% -19.51% 81.57% -17.02%
NOPAT Q/Q Growth		 -214.97% 74.78% 118.82% 398.65% -85.46% -1,429.16% 824.51% -90.06% -103.51% 8,368.19% -10.06%
Net Income Q/Q Growth		 117.84% -144.31% 533.84% 29.38% -75.57% -662.52% 137.80% 12.91% -103.71% 10,081.25% -10.85%
EPS Q/Q Growth		 123.08% -133.33% 500.00% 50.00% -83.33% -900.00% 137.50% 0.00% 0.00% 0.00% -16.67%
Operating Cash Flow Q/Q Growth		 -89.42% -191.77% 136.73% 1,255.99% -82.68% 437.98% -160.36% 163.03% 427.56% -90.35% 879.75%
Free Cash Flow Firm Q/Q Growth		 -596.19% 14.37% 42.14% -136.35% -14.37% -335.38% 6.44% -13.75% 5.31% 71.42% 27.32%
Invested Capital Q/Q Growth		 8.38% 9.75% 11.46% 5.28% 9.01% 100.90% 8.25% 3.80% -0.09% 6.75% 2.65%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 67.92% 67.25% 70.64% 73.10% 68.25% 72.89% 71.22% 72.27% 72.85% 71.83% 68.95%
EBITDA Margin		 3.48% 0.23% 5.76% 8.60% 4.87% -0.56% 9.16% 15.14% 13.23% 18.76% 17.28%
Operating Margin		 -2.13% -4.74% 0.63% 4.57% 1.02% -7.44% 2.16% 8.45% 5.54% 10.50% 8.23%
EBIT Margin		 -2.13% -4.74% 0.63% 4.57% 1.02% -5.62% 2.54% 8.27% 6.09% 11.48% 9.31%
Profit (Net Income) Margin		 2.16% -0.95% 4.09% 4.75% 1.08% -6.35% 2.22% 2.27% -0.08% 7.97% 6.94%
Tax Burden Percent		 620.28% 146.64% 97.82% 60.77% 36.57% 101.20% 1,614.08% 37.11% -1.82% 82.38% 92.37%
Interest Burden Percent		 -16.31% 13.67% 660.23% 171.31% 287.89% 111.58% 5.41% 73.80% 69.39% 84.23% 80.70%
Effective Tax Rate		 -520.28% 0.00% 2.18% 39.23% 63.43% 0.00% -1,514.08% 62.89% 101.82% 17.62% 7.63%
Return on Invested Capital (ROIC)		 -26.71% -6.06% 0.96% 4.58% 0.60% -5.29% 34.20% 3.11% -0.10% 6.91% 6.02%
ROIC Less NNEP Spread (ROIC-NNEP)		 -31.32% -6.82% -0.23% 3.86% 0.32% -4.29% 71.65% 4.24% -0.14% 5.27% 9.95%
Return on Net Nonoperating Assets (RNNOA)		 19.60% 3.99% 0.12% -2.14% -0.17% 0.98% -13.19% -0.74% 0.02% 0.50% -0.33%
Return on Equity (ROE)		 -7.11% -2.07% 1.09% 2.45% 0.43% -4.31% 21.01% 2.37% -0.08% 7.40% 5.69%
Cash Return on Invested Capital (CROIC)		 -27.63% -26.12% -9.73% -33.41% -33.09% -88.08% -85.54% -84.46% -77.68% -14.81% -8.75%
Operating Return on Assets (OROA)		 -1.24% -2.79% 0.36% 2.64% 0.61% -3.09% 1.44% 4.79% 3.64% 6.48% 4.93%
Return on Assets (ROA)		 1.26% -0.56% 2.32% 2.75% 0.64% -3.49% 1.26% 1.31% -0.05% 4.49% 3.68%
Return on Common Equity (ROCE)		 -7.11% -2.07% 1.09% 2.45% 0.43% -4.31% 21.01% 2.37% -0.08% 7.40% 5.69%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 1.05% -1.19% 1.83% 0.00% 0.57% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -5.44 -1.37 0.26 1.29 0.19 -2.49 18 1.79 -0.06 5.20 4.68
NOPAT Margin		 -13.23% -3.32% 0.62% 2.77% 0.37% -5.21% 34.85% 3.14% -0.10% 8.65% 7.60%
Net Nonoperating Expense Percent (NNEP)		 4.61% 0.76% 1.20% 0.72% 0.28% -1.00% -37.45% -1.12% 0.03% 1.64% -3.94%
Return On Investment Capital (ROIC_SIMPLE)		 -2.38% - - - 0.08% -0.78% 5.54% 0.54% -0.02% 1.50% 1.07%
Cost of Revenue to Revenue		 32.08% 32.75% 29.36% 26.90% 31.75% 27.12% 28.78% 27.73% 27.15% 28.17% 31.05%
SG&A Expenses to Revenue		 39.38% 39.94% 39.03% 38.99% 38.08% 48.92% 38.17% 34.92% 34.74% 29.09% 30.85%
R&D to Revenue		 29.93% 31.43% 30.36% 29.12% 28.79% 30.62% 28.83% 27.02% 30.86% 30.48% 28.14%
Operating Expenses to Revenue		 70.05% 71.99% 70.01% 68.53% 67.23% 80.33% 69.06% 63.82% 67.31% 61.33% 60.72%
Earnings before Interest and Taxes (EBIT)		 -0.88 -1.96 0.26 2.12 0.51 -2.69 1.31 4.73 3.80 6.91 5.73
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 1.43 0.10 2.40 3.99 2.44 -0.27 4.74 8.65 8.26 11 11
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 5.37 5.72 6.02 5.10 4.27 3.00 3.25 3.86 4.16 4.65 7.59
Price to Tangible Book Value (P/TBV)		 6.20 6.58 6.87 5.78 4.80 7.95 8.02 9.00 9.10 9.64 12.32
Price to Revenue (P/Rev)		 7.42 7.74 8.39 7.20 5.85 4.02 4.27 4.93 5.15 5.64 11.72
Price to Earnings (P/E)		 396.05 546.57 0.00 278.65 258.80 527.13 974.16 0.00 0.00 181.65 274.16
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		 0.25% 0.18% 0.00% 0.36% 0.39% 0.19% 0.10% 0.00% 0.00% 0.55% 0.36%
Enterprise Value to Invested Capital (EV/IC)		 11.71 11.37 11.19 9.20 7.13 2.89 3.03 3.55 3.89 4.24 8.57
Enterprise Value to Revenue (EV/Rev)		 6.60 7.00 7.69 6.49 5.21 4.10 4.41 5.09 5.26 5.79 11.52
Enterprise Value to EBITDA (EV/EBITDA)		 116.98 161.66 240.64 139.86 104.76 99.06 87.92 72.05 53.91 40.71 71.56
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 1,000.09 0.00 4,479.37 362.42 161.00 80.03 131.25
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 343.95 0.00 1,621.79 0.00 11,362.69 0.00 0.00 142.62 227.04
Enterprise Value to Operating Cash Flow (EV/OCF)		 74.95 84.94 63.84 109.35 96.37 37.71 60.43 126.40 47.90 78.43 71.77
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 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 0.28 0.26 0.26 0.25 0.24 0.18
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.27 0.26 0.25 0.24 0.23 0.17
Financial Leverage		 -0.63 -0.58 -0.53 -0.55 -0.53 -0.23 -0.18 -0.18 -0.17 0.09 -0.03
Leverage Ratio		 1.30 1.29 1.29 1.28 1.27 1.43 1.41 1.41 1.42 1.55 1.44
Compound Leverage Factor		 -0.21 0.18 8.51 2.19 3.67 1.59 0.08 1.04 0.99 1.31 1.17
Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 21.61% 20.92% 20.35% 19.82% 19.16% 15.15%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.71% 0.69% 0.67% 0.66% 0.65% 0.65%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 20.91% 20.23% 19.68% 19.16% 18.51% 14.50%
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% 78.39% 79.08% 79.65% 80.18% 80.85% 84.85%
Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 8.93 6.93 4.63 3.13 2.02 1.71
Net Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 1.89 2.82 2.17 1.16 1.07 -1.25
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 8.63 6.70 4.48 3.03 1.95 1.64
Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 -282.51 895.29 -894.60 -57.31 7.07 5.44
Net Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 -59.69 364.27 -419.48 -21.20 3.76 -3.95
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 -273.29 865.85 -864.97 -55.40 6.83 5.20
Altman Z-Score		 12.75 13.23 13.39 11.68 9.81 3.52 4.17 4.77 5.08 5.79 12.24
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		 3.89 3.62 3.49 3.32 3.40 2.19 2.37 2.21 2.28 2.34 3.45
Quick Ratio		 3.55 3.29 3.14 2.89 3.11 1.83 1.93 1.68 1.74 1.70 2.80
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -28 -24 -14 -33 -38 -163 -153 -174 -165 -47 -34
Operating Cash Flow to CapEx		 84.26% -92.04% 12.86% 201.85% 27.47% 105.33% -61.17% 51.97% 177.11% 15.94% 116.47%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 -525.55 -123.13 -140.51 -141.51 -43.23 -30.94
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 27.78 -4.20 2.66 14.90 1.54 14.83
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 1.41 -11.06 -2.45 6.49 -8.10 2.10
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.58 0.59 0.57 0.58 0.59 0.55 0.57 0.58 0.60 0.56 0.53
Accounts Receivable Turnover		 3.81 3.53 2.82 3.89 3.03 3.35 3.12 3.40 2.80 2.90 3.02
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		 4.28 4.28 3.98 4.07 4.18 4.01 3.82 3.51 3.37 3.15 3.08
Accounts Payable Turnover		 11.57 8.88 16.39 10.15 10.01 7.08 5.67 3.87 2.83 3.91 3.74
Days Sales Outstanding (DSO)		 95.82 103.45 129.23 93.79 120.56 108.89 117.02 107.38 130.47 125.96 120.95
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)		 31.56 41.09 22.28 35.97 36.46 51.52 64.41 94.40 128.85 93.43 97.67
Cash Conversion Cycle (CCC)		 64.26 62.36 106.95 57.83 84.10 57.37 52.61 12.98 1.62 32.53 23.29
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 93 103 114 120 131 263 285 296 296 316 324
Invested Capital Turnover		 2.02 1.82 1.55 1.65 1.60 1.02 0.98 0.99 1.03 0.80 0.79
Increase / (Decrease) in Invested Capital		 23 23 14 34 38 161 171 176 165 52 39
Enterprise Value (EV)		 1,094 1,165 1,279 1,107 935 762 865 1,051 1,152 1,340 2,778
Market Capitalization		 1,230 1,288 1,397 1,227 1,050 747 837 1,020 1,127 1,305 2,826
Book Value per Share		 $5.98 $5.85 $6.05 $6.21 $6.35 $6.37 $6.58 $6.69 $6.86 $7.03 $9.33
Tangible Book Value per Share		 $5.18 $5.08 $5.29 $5.48 $5.64 $2.40 $2.67 $2.87 $3.13 $3.39 $5.75
Total Capital		 229 225 232 240 246 318 326 332 338 347 439
Total Debt		 0.00 0.00 0.00 0.00 0.00 69 68 68 67 66 67
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 66 66 65 65 64 64
Net Debt		 -136 -123 -118 -120 -115 15 28 32 25 35 -48
Capital Expenditures (CapEx)		 2.41 2.02 5.32 4.60 5.85 8.20 8.53 6.33 9.79 11 14
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 11 13 20 14 31 24 40 46 52 72 67
Debt-free Net Working Capital (DFNWC)		 147 136 138 134 145 79 80 82 94 103 182
Net Working Capital (NWC)		 147 136 138 134 145 76 78 80 92 101 179
Net Nonoperating Expense (NNE)		 -6.33 -0.98 -1.45 -0.92 -0.35 0.54 17 0.50 -0.01 0.41 0.41
Net Nonoperating Obligations (NNO)		 -136 -123 -118 -120 -115 15 28 32 25 35 -48
Total Depreciation and Amortization (D&A)		 2.31 2.06 2.14 1.87 1.93 2.42 3.43 3.92 4.45 4.38 4.90
Debt-free, Cash-free Net Working Capital to Revenue		 6.92% 7.59% 11.99% 7.93% 17.02% 13.13% 20.24% 22.45% 23.75% 31.02% 27.91%
Debt-free Net Working Capital to Revenue		 88.65% 81.45% 82.81% 78.39% 81.04% 42.26% 40.85% 39.80% 43.03% 44.48% 75.54%
Net Working Capital to Revenue		 88.65% 81.45% 82.81% 78.39% 81.04% 41.05% 39.71% 38.72% 42.01% 43.51% 74.36%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.02 ($0.01) $0.04 $0.06 $0.02 ($0.08) $0.03 $0.03 $0.00 $0.12 $0.10
Adjusted Weighted Average Basic Shares Outstanding		 38.02M 38.50M 38.62M 38.71M 38.60M 39.09M 39.15M 39.50M 39.32M 39.86M 40.93M
Adjusted Diluted Earnings per Share		 $0.03 ($0.01) $0.04 $0.06 $0.01 ($0.08) $0.03 $0.03 $0.00 $0.12 $0.10
Adjusted Weighted Average Diluted Shares Outstanding		 38.94M 38.50M 39.13M 39.11M 39.05M 39.09M 39.26M 39.62M 39.32M 40.38M 41.78M
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		 38.58M 38.40M 38.75M 38.77M 39.11M 39.14M 39.49M 39.51M 39.89M 39.92M 42.23M
Normalized Net Operating Profit after Tax (NOPAT)		 -0.61 -1.37 0.26 1.29 0.36 -2.49 0.78 3.38 2.42 5.20 4.68
Normalized NOPAT Margin		 -1.49% -3.32% 0.62% 2.77% 0.72% -5.21% 1.51% 5.92% 3.88% 8.65% 7.60%
Pre Tax Income Margin		 0.35% -0.65% 4.18% 7.82% 2.94% -6.27% 0.14% 6.11% 4.23% 9.67% 7.52%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 -8.63 1.06 3.82 3.27 6.34 5.18
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 -8.00 14.52 1.45 -0.05 4.78 4.23
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 -35.01 -5.81 -1.29 -5.14 -3.30 -7.55
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 -34.38 7.65 -3.66 -8.47 -4.87 -8.50
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		 23.93% 324.23% -275.59% 156.62% 170.05% 0.00% 0.00% -460.38% -38.13% 0.00% 0.00%

Financials Breakdown Chart

Key Financial Trends

PDF Solutions’ financial results show a meaningful improvement in operating performance through the first half of 2026. Revenue reached $61.5 million in Q2 2026, up 18.9% from $51.7 million in the restated Q2 2025 and nearly 50% above Q2 2022. Revenue has generally trended higher from roughly $40.8 million in Q1 2023 to more than $60 million in each quarter of 2026, although the company experienced some quarter-to-quarter volatility.

Profitability has also improved. Q2 2026 operating income increased to $5.1 million from $1.1 million a year earlier, while net income rose to $4.3 million from $1.1 million. The operating margin expanded to approximately 8.2%, compared with 2.2% in Q2 2025. However, gross margin declined to about 68.9% from 71.2%, suggesting that the improvement was driven primarily by operating leverage and expense management rather than higher gross profitability.

The balance sheet and cash flow position strengthened substantially in Q2 2026, but the improvement was heavily supported by financing activity. Cash and equivalents rose to $114.9 million from $37.4 million in Q2 2025, helped by $81.9 million of common-equity issuance. Operating cash flow improved to $16.4 million from negative $5.2 million, and capital expenditures of $14.1 million resulted in modest positive free cash flow of approximately $2.3 million. Investors should distinguish between internally generated cash and the cash raised through equity financing.

  • Strong revenue growth: Q2 2026 revenue increased approximately 19% year over year and has grown substantially compared with the 2022–2023 period.
  • Improved operating profitability: Operating income rose to $5.1 million in Q2 2026, and the operating margin expanded to roughly 8.2% from 2.2% a year earlier.
  • Return to positive free cash flow: Operating cash flow of $16.4 million exceeded $14.1 million of capital expenditures, producing approximately $2.3 million of free cash flow after a negative result in Q2 2025.
  • Better liquidity: Cash increased to $114.9 million, and the current ratio improved to approximately 3.4, providing greater flexibility to fund operations and investment.
  • Improved earnings trend: PDF Solutions reported a profit in each of the first two quarters of 2026 after a restated net loss in Q1 2025 and a near break-even result in Q4 2025.
  • Debt appears manageable relative to assets: Total reported debt was approximately $66.5 million at June 30, 2026, compared with $372.5 million of equity and $519.2 million of assets.
  • Significant investment in capacity: Capital expenditures increased to $14.1 million in Q2 2026 from $8.5 million in Q2 2025. This could support future growth, but it also raises the level of cash required to sustain the business.
  • Acquisition-related balance-sheet expansion: Goodwill and intangible assets remain substantial, totaling approximately $143.0 million at Q2 2026. The acquisition completed in early 2025 expanded the asset base, but future impairment charges remain a consideration.
  • Shareholder dilution: The Q2 2026 common-equity issuance generated $81.9 million of cash, but basic weighted-average shares increased to 40.9 million from 38.6 million in Q2 2025, potentially reducing per-share benefits from earnings growth.
  • Cash generation remains uneven: Operating cash flow was negative in Q2 2025 and only $1.7 million in Q1 2026 before rebounding sharply in Q2. Working-capital changes have been highly volatile and remain an important risk to monitor.
09/01/26 02:05 AM ETAI Generated. May Contain Errors.

PDF Solutions Financials - Frequently Asked Questions

According to the most recent income statement we have on file, PDF Solutions' financial year ends in December. Their financial year 2025 ended on December 31, 2025.

PDF Solutions' net income appears to be on an upward trend, with a most recent value of -$640 thousand in 2025, falling from $12.41 million in 2015. The previous period was $4.06 million in 2024. View PDF Solutions' forecast to see where analysts expect PDF Solutions to go next.

PDF Solutions' total operating income in 2025 was $5.85 million, based on the following breakdown:
  • Total Gross Profit: $158.40 million
  • Total Operating Expenses: $152.55 million

Over the last 10 years, PDF Solutions' total revenue changed from $97.98 million in 2015 to $219.02 million in 2025, a change of 123.5%.

PDF Solutions' total liabilities were at $147.68 million at the end of 2025, a 113.2% increase from 2024, and a 745.7% increase since 2015.

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 $42.22 million as of their latest financial filing in 2025.

Over the last 10 years, PDF Solutions' book value per share changed from 5.55 in 2015 to 6.86 in 2025, a change of 23.7%.


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Financial statements for NASDAQ:PDFS last updated on 8/6/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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