PubMatic (PUBM) Financials

$11.71 -0.12 (-1.01%)

Closing price 04:00 PM Eastern

Extended Trading

$11.70 -0.01 (-0.09%)

As of 05:59 PM Eastern

Annual Income Statements for PubMatic

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

Metric	2024	2023	2022
Period end date	12/31/2024	12/31/2023	12/31/2022
Net Income / (Loss) Attributable to Common Shareholders	13	8.88	29
Consolidated Net Income / (Loss)	13	8.88	29
Net Income / (Loss) Continuing Operations	13	8.88	29
Total Pre-Tax Income	18	11	37
Total Operating Income	3.93	2.04	41
Total Gross Profit	190	168	175
Total Revenue	291	267	256
Operating Revenue	291	267	256
Total Cost of Revenue	101	99	82
Operating Cost of Revenue	101	99	82
Total Operating Expenses	186	166	134
Selling, General & Admin Expense	58	56	45
Marketing Expense	95	83	69
Research & Development Expense	33	27	21
Total Other Income / (Expense), net	14	8.47	-3.05
Interest & Investment Income	8.48	8.83	2.21
Other Income / (Expense), net	5.37	-0.36	-5.27
Income Tax Expense	5.27	1.62	8.76
Basic Earnings per Share	$0.25	$0.17	$0.55
Weighted Average Basic Shares Outstanding	49.21M	51.76M	52.28M
Diluted Earnings per Share	$0.23	$0.16	$0.50
Weighted Average Diluted Shares Outstanding	54.29M	56.03M	56.91M
Weighted Average Basic & Diluted Shares Outstanding	48.53M	50.01M	52.83M

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

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	14	-0.91	1.97	-2.45	19	1.77	-5.72	-5.87	13	3.33
Consolidated Net Income / (Loss)	14	-0.91	1.97	-2.45	19	1.77	-5.72	-5.87	13	3.33
Net Income / (Loss) Continuing Operations	14	-0.91	1.97	-2.45	19	1.77	-5.72	-5.87	13	3.33
Total Pre-Tax Income	18	-0.33	2.38	-2.70	23	1.89	-5.18	-9.25	17	4.72
Total Operating Income	15	-1.37	-3.99	-5.53	20	-0.57	-7.13	-11	17	9.62
Total Gross Profit	61	46	42	41	60	38	38	32	51	43
Total Revenue	86	72	67	67	85	64	63	55	74	65
Operating Revenue	86	72	67	67	85	64	63	55	74	65
Total Cost of Revenue	25	26	25	25	24	26	25	24	23	22
Operating Cost of Revenue	25	26	25	25	24	26	25	24	23	22
Total Operating Expenses	46	48	46	47	40	38	45	42	35	33
Selling, General & Admin Expense	14	15	14	14	13	12	19	13	11	12
Marketing Expense	24	24	23	25	20	20	20	23	18	16
Research & Development Expense	7.83	8.81	8.66	7.96	6.85	6.63	6.73	6.52	5.92	5.08
Total Other Income / (Expense), net	3.62	1.04	6.37	2.82	2.63	2.46	1.96	1.43	0.29	-4.90
Other Income / (Expense), net	2.01	-0.93	4.03	0.26	0.12	0.21	-0.22	-0.47	-0.88	-5.49
Income Tax Expense	4.52	0.59	0.41	-0.25	4.34	0.11	0.55	-3.38	4.03	1.40
Basic Earnings per Share	$0.28	($0.02)	$0.04	($0.05)	$0.36	$0.03	($0.11)	($0.11)	$0.25	$0.06
Weighted Average Basic Shares Outstanding	49.21M	49.06M	49.78M	50.04M	51.76M	51.64M	52.03M	52.74M	52.28M	52.44M
Diluted Earnings per Share	$0.26	($0.02)	$0.04	($0.05)	$0.35	$0.03	($0.11)	($0.11)	$0.22	$0.06
Weighted Average Diluted Shares Outstanding	54.29M	49.06M	55.58M	50.04M	56.03M	55.98M	52.03M	52.74M	56.91M	56.94M
Weighted Average Basic & Diluted Shares Outstanding	48.53M	47.77M	49.58M	49.93M	50.01M	50.76M	51.87M	51.94M	52.83M	52.57M

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

Metric	2024	2023	2022
Period end date	12/31/2024	12/31/2023	12/31/2022
Net Change in Cash & Equivalents	22	-14	9.88
Net Cash From Operating Activities	73	81	87
Net Cash From Continuing Operating Activities	73	81	87
Net Income / (Loss) Continuing Operations	13	8.88	29
Consolidated Net Income / (Loss)	13	8.88	29
Depreciation Expense	45	45	34
Amortization Expense	-4.12	-4.09	-0.58
Non-Cash Adjustments To Reconcile Net Income	44	41	33
Changes in Operating Assets and Liabilities, net	-25	-9.16	-7.68
Net Cash From Investing Activities	22	-39	-81
Net Cash From Continuing Investing Activities	22	-39	-81
Purchase of Property, Plant & Equipment	-39	-28	-49
Acquisitions	0.00	0.00	-28
Purchase of Investments	-142	-141	-138
Sale and/or Maturity of Investments	203	130	133
Net Cash From Financing Activities	-73	-56	4.04
Net Cash From Continuing Financing Activities	-73	-56	4.04
Repayment of Debt	-0.13	-0.13	-0.12
Repurchase of Common Equity	-77	-59	0.00
Issuance of Common Equity	2.37	1.87	2.96
Other Financing Activities, net	1.77	1.55	1.20
Cash Income Taxes Paid	14	16	9.19

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

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	22	5.39	-6.67	1.69	-19	-7.81	26	-13	40	0.28
Net Cash From Operating Activities	18	19	12	24	29	24	16	13	19	28
Net Cash From Continuing Operating Activities	18	19	12	24	29	24	16	13	19	28
Net Income / (Loss) Continuing Operations	14	-0.91	1.97	-2.45	19	1.77	-5.72	-5.87	13	3.33
Consolidated Net Income / (Loss)	14	-0.91	1.97	-2.45	19	1.77	-5.72	-5.87	13	3.33
Depreciation Expense	11	11	11	11	11	11	11	11	11	9.08
Amortization Expense	-0.57	-1.09	-1.23	-1.23	-1.03	-1.02	-0.99	-1.06	-0.41	-0.16
Non-Cash Adjustments To Reconcile Net Income	11	11	11	11	8.92	8.74	14	8.59	7.00	12
Changes in Operating Assets and Liabilities, net	-18	-1.24	-12	5.97	-8.95	2.95	-2.82	-0.34	-11	3.47
Net Cash From Investing Activities	13	16	-2.00	-3.87	-31	-14	24	-18	20	-28
Net Cash From Continuing Investing Activities	13	16	-2.00	-3.87	-31	-14	24	-18	20	-28
Purchase of Property, Plant & Equipment	-9.19	-16	-5.03	-8.03	-9.14	-6.68	-5.05	-7.42	-12	-17
Purchase of Investments	-24	-21	-62	-34	-64	-30	-6.37	-40	-38	-17
Sale and/or Maturity of Investments	46	53	65	39	42	23	36	30	70	35
Net Cash From Financing Activities	-8.86	-29	-17	-19	-17	-18	-14	-7.62	0.66	0.19
Net Cash From Continuing Financing Activities	-8.86	-29	-17	-19	-17	-18	-14	-7.62	0.66	0.19
Repayment of Debt	-0.03	-0.03	-0.03	-0.03	-0.03	-0.03	-0.03	-0.03	-0.03	-0.03
Repurchase of Common Equity	-9.93	-30	-18	-20	-18	-18	-16	-7.90	-	-
Issuance of Common Equity	0.92	-	-	-	0.90	-	-	-	0.56	-
Other Financing Activities, net	0.19	0.30	0.34	0.94	0.34	0.27	0.62	0.31	0.14	0.22
Cash Income Taxes Paid	3.84	4.54	4.76	1.03	4.11	1.02	10	0.35	1.63	5.72

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

Metric	2024	2023	2022
Period end date	12/31/2024	12/31/2023	12/31/2022
Total Assets	740	695	642
Total Current Assets	576	562	503
Cash & Equivalents	100	79	92
Short-Term Investments	40	97	82
Accounts Receivable	425	375	314
Prepaid Expenses	10	11	15
Plant, Property, & Equipment, net	59	61	71
Total Noncurrent Assets	105	73	68
Goodwill	30	30	30
Intangible Assets	4.28	5.86	8.30
Noncurrent Deferred & Refundable Income Taxes	25	14	1.05
Other Noncurrent Operating Assets	47	23	29
Total Liabilities & Shareholders' Equity	740	695	642
Total Liabilities	462	399	330
Total Current Liabilities	419	380	302
Accounts Payable	387	348	277
Accrued Expenses	26	26	19
Other Current Liabilities	5.84	6.24	5.68
Total Noncurrent Liabilities	43	19	28
Capital Lease Obligations	40	16	-
Other Noncurrent Operating Liabilities	3.91	3.84	27
Commitments & Contingencies	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	277	296	312
Total Preferred & Common Equity	277	296	312
Preferred Stock	0.00	0.00	0.00
Total Common Equity	277	296	312
Common Stock	275	230	196
Retained Earnings	149	137	128
Treasury Stock	-147	-71	-11
Accumulated Other Comprehensive Income / (Loss)	-0.64	-0.00	-0.01

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

Metric	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022
Period end date	9/30/2024	6/30/2024	3/31/2024	9/30/2023	6/30/2023	3/31/2023	9/30/2022
Total Assets	689	673	626	613	584	577	602
Total Current Assets	530	532	489	474	443	440	458
Cash & Equivalents	79	74	80	98	106	79	52
Short-Term Investments	61	92	94	74	65	94	114
Accounts Receivable	377	352	303	291	258	253	277
Prepaid Expenses	13	15	12	12	14	14	15
Plant, Property, & Equipment, net	63	60	57	62	66	69	75
Total Noncurrent Assets	96	81	81	77	75	69	69
Goodwill	30	30	30	30	30	30	30
Intangible Assets	4.68	5.07	5.47	6.26	6.65	7.05	8.82
Noncurrent Deferred & Refundable Income Taxes	25	23	19	15	13	4.95	0.47
Other Noncurrent Operating Assets	37	24	27	26	25	27	30
Total Liabilities & Shareholders' Equity	689	673	626	613	584	577	602
Total Liabilities	426	390	337	324	289	271	310
Total Current Liabilities	393	370	316	304	269	248	279
Short-Term Debt	6.38	6.78	6.84	-	-	-	-
Accounts Payable	361	341	289	273	240	223	258
Accrued Expenses	26	23	20	25	23	19	15
Total Noncurrent Liabilities	33	20	22	21	20	24	31
Capital Lease Obligations	29	16	18	-	-	-	-
Other Noncurrent Operating Liabilities	4.20	4.05	4.07	21	20	24	27
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	263	283	289	289	295	306	293
Total Preferred & Common Equity	263	283	289	289	295	306	293
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	263	283	289	289	295	306	293
Common Stock	264	253	241	221	213	204	189
Retained Earnings	135	136	134	118	116	122	115
Treasury Stock	-136	-107	-87	-51	-35	-19	-11
Accumulated Other Comprehensive Income / (Loss)	-0.03	-0.03	-0.03	-0.01	-0.03	0.01	-0.22

This table displays calculated financial ratios and metrics derived from PubMatic's official financial filings.

Metric	2024	2023	2022
Period end date	12/31/2024	12/31/2023	12/31/2022
Growth Metrics	-	-	-
Revenue Growth	9.08%	4.15%	12.99%
EBITDA Growth	19.31%	-38.55%	-21.26%
EBIT Growth	454.38%	-95.24%	-45.35%
NOPAT Growth	60.50%	-94.46%	-39.55%
Net Income Growth	40.80%	-69.06%	-49.29%
EPS Growth	43.75%	-68.00%	-50.00%
Operating Cash Flow Growth	-9.49%	-6.98%	-1.66%
Free Cash Flow Firm Growth	-1,311.87%	133.19%	-132.56%
Invested Capital Growth	29.13%	-0.97%	41.25%
Revenue Q/Q Growth	0.31%	4.01%	-0.49%
EBITDA Q/Q Growth	-5.37%	12.30%	-17.51%
EBIT Q/Q Growth	-28.55%	152.26%	-33.55%
NOPAT Q/Q Growth	-62.51%	234.08%	-26.42%
Net Income Q/Q Growth	-27.75%	200.03%	-35.00%
EPS Q/Q Growth	-28.13%	433.33%	-35.06%
Operating Cash Flow Q/Q Growth	-12.64%	12.97%	-9.47%
Free Cash Flow Firm Q/Q Growth	-10.13%	-61.88%	-4,127.04%
Invested Capital Q/Q Growth	11.40%	16.41%	8.92%
Profitability Metrics	-	-	-
Gross Margin	65.31%	62.84%	68.21%
EBITDA Margin	17.35%	15.86%	26.88%
Operating Margin	1.35%	0.76%	15.80%
EBIT Margin	3.19%	0.63%	13.75%
Profit (Net Income) Margin	4.29%	3.33%	11.20%
Tax Burden Percent	70.35%	84.54%	76.61%
Interest Burden Percent	191.18%	626.42%	106.28%
Effective Tax Rate	29.65%	15.46%	23.39%
Return on Invested Capital (ROIC)	1.77%	1.26%	26.38%
ROIC Less NNEP Spread (ROIC-NNEP)	-5.70%	-3.03%	27.78%
Return on Net Nonoperating Assets (RNNOA)	2.59%	1.66%	-16.30%
Return on Equity (ROE)	4.36%	2.92%	10.08%
Cash Return on Invested Capital (CROIC)	-23.66%	2.23%	-7.81%
Operating Return on Assets (OROA)	1.30%	0.25%	5.91%
Return on Assets (ROA)	1.74%	1.33%	4.81%
Return on Common Equity (ROCE)	4.36%	2.92%	10.08%
Return on Equity Simple (ROE_SIMPLE)	4.51%	3.00%	9.19%
Net Operating Profit after Tax (NOPAT)	2.76	1.72	31
NOPAT Margin	0.95%	0.64%	12.11%
Net Nonoperating Expense Percent (NNEP)	7.47%	4.29%	-1.40%
Return On Investment Capital (ROIC_SIMPLE)	0.87%	0.55%	9.94%
Cost of Revenue to Revenue	34.69%	37.16%	31.79%
SG&A Expenses to Revenue	19.80%	21.05%	17.53%
R&D to Revenue	11.42%	10.01%	8.13%
Operating Expenses to Revenue	63.97%	62.08%	52.40%
Earnings before Interest and Taxes (EBIT)	9.30	1.68	35
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	51	42	69
Valuation Ratios	-	-	-
Price to Book Value (P/BV)	2.53	2.80	2.16
Price to Tangible Book Value (P/TBV)	2.88	3.18	2.45
Price to Revenue (P/Rev)	2.41	3.10	2.63
Price to Earnings (P/E)	56.12	93.23	23.46
Dividend Yield	0.00%	0.00%	0.00%
Earnings Yield	1.78%	1.07%	4.26%
Enterprise Value to Invested Capital (EV/IC)	3.41	4.90	3.62
Enterprise Value to Revenue (EV/Rev)	2.06	2.50	1.95
Enterprise Value to EBITDA (EV/EBITDA)	11.89	15.78	7.24
Enterprise Value to EBIT (EV/EBIT)	64.61	398.45	14.15
Enterprise Value to NOPAT (EV/NOPAT)	217.42	388.20	16.07
Enterprise Value to Operating Cash Flow (EV/OCF)	8.18	8.24	5.72
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	218.92	0.00
Leverage & Solvency	-	-	-
Debt to Equity	0.14	0.05	0.00
Long-Term Debt to Equity	0.14	0.05	0.00
Financial Leverage	-0.45	-0.55	-0.59
Leverage Ratio	2.50	2.20	2.09
Compound Leverage Factor	4.78	13.77	2.23
Debt to Total Capital	12.48%	5.01%	0.00%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	12.48%	5.01%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%
Common Equity to Total Capital	87.52%	94.99%	100.00%
Debt to EBITDA	0.78	0.37	0.00
Net Debt to EBITDA	-2.00	-3.77	0.00
Long-Term Debt to EBITDA	0.78	0.37	0.00
Debt to NOPAT	14.31	9.07	0.00
Net Debt to NOPAT	-36.58	-92.80	0.00
Long-Term Debt to NOPAT	14.31	9.07	0.00
Altman Z-Score	1.88	2.23	2.46
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-
Current Ratio	1.37	1.48	1.67
Quick Ratio	1.35	1.45	1.62
Cash Flow Metrics	-	-	-
Free Cash Flow to Firm (FCFF)	-37	3.05	-9.19
Operating Cash Flow to CapEx	190.58%	286.77%	178.37%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00
Efficiency Ratios	-	-	-
Asset Turnover	0.41	0.40	0.43
Accounts Receivable Turnover	0.73	0.77	0.85
Inventory Turnover	0.00	0.00	0.00
Fixed Asset Turnover	4.88	4.05	4.23
Accounts Payable Turnover	0.28	0.32	0.31
Days Sales Outstanding (DSO)	501.45	471.45	427.97
Days Inventory Outstanding (DIO)	0.00	0.00	0.00
Days Payable Outstanding (DPO)	1,326.43	1,149.65	1,168.13
Cash Conversion Cycle (CCC)	-824.98	-678.20	-740.17
Capital & Investment Metrics	-	-	-
Invested Capital	176	136	138
Invested Capital Turnover	1.86	1.95	2.18
Increase / (Decrease) in Invested Capital	40	-1.33	40
Enterprise Value (EV)	601	668	499
Market Capitalization	702	828	673
Book Value per Share	$5.80	$5.84	$5.94
Tangible Book Value per Share	$5.10	$5.14	$5.22
Total Capital	317	312	312
Total Debt	40	16	0.00
Total Long-Term Debt	40	16	0.00
Net Debt	-101	-160	-174
Capital Expenditures (CapEx)	39	28	49
Debt-free, Cash-free Net Working Capital (DFCFNWC)	16	7.02	27
Debt-free Net Working Capital (DFNWC)	157	182	201
Net Working Capital (NWC)	157	182	201
Net Nonoperating Expense (NNE)	-9.74	-7.16	2.34
Net Nonoperating Obligations (NNO)	-101	-160	-174
Total Depreciation and Amortization (D&A)	41	41	34
Debt-free, Cash-free Net Working Capital to Revenue	5.54%	2.63%	10.55%
Debt-free Net Working Capital to Revenue	53.81%	68.30%	78.58%
Net Working Capital to Revenue	53.81%	68.30%	78.58%
Earnings Adjustments	-	-	-
Adjusted Basic Earnings per Share	$0.25	$0.17	$0.55
Adjusted Weighted Average Basic Shares Outstanding	49.21M	51.76M	52.28M
Adjusted Diluted Earnings per Share	$0.23	$0.16	$0.50
Adjusted Weighted Average Diluted Shares Outstanding	54.29M	56.03M	56.91M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	48.53M	50.01M	52.83M
Normalized Net Operating Profit after Tax (NOPAT)	2.76	1.72	31
Normalized NOPAT Margin	0.95%	0.64%	12.11%
Pre Tax Income Margin	6.10%	3.93%	14.61%
Debt Service Ratios	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00
Payout Ratios	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%
Augmented Payout Ratio	619.64%	667.36%	0.00%

This table displays calculated financial ratios and metrics derived from PubMatic's official financial filings.

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	1.07%	12.73%	6.22%	20.38%	13.87%	-1.28%	0.47%	1.57%	-1.67%	11.04%
EBITDA Growth	-9.38%	-20.21%	296.91%	718.24%	17.91%	-23.24%	-84.69%	-105.74%	-36.09%	-36.66%
EBIT Growth	-18.09%	-535.73%	100.58%	52.71%	31.23%	-108.75%	-178.07%	-283.78%	-53.22%	-71.18%
NOPAT Growth	-32.58%	-77.81%	34.00%	48.23%	31.91%	-107.93%	-163.55%	-310.95%	-46.34%	-48.93%
Net Income Growth	-25.68%	-151.41%	134.43%	58.20%	46.33%	-46.66%	-173.21%	-222.85%	-54.74%	-75.41%
EPS Growth	-25.71%	-166.67%	136.36%	54.55%	59.09%	-50.00%	-178.57%	-237.50%	-55.10%	-75.00%
Operating Cash Flow Growth	-37.06%	-19.74%	-24.63%	90.48%	48.12%	-15.06%	-22.57%	-33.97%	-32.03%	6.18%
Free Cash Flow Firm Growth	-259.71%	-578.80%	28.56%	79.42%	164.66%	124.57%	-113.41%	-210.03%	-9,441.32%	49.70%
Invested Capital Growth	29.13%	34.94%	13.34%	4.46%	-0.97%	-7.34%	22.49%	43.22%	41.25%	50.42%
Revenue Q/Q Growth	19.11%	6.72%	0.85%	-21.16%	32.86%	0.55%	14.30%	-25.42%	15.19%	2.33%
EBITDA Q/Q Growth	246.07%	-21.25%	115.52%	-84.57%	204.73%	291.75%	435.70%	-102.94%	98.38%	-21.85%
EBIT Q/Q Growth	832.72%	-5,437.21%	100.82%	-125.66%	5,786.98%	95.09%	33.96%	-171.19%	278.97%	-56.18%
NOPAT Q/Q Growth	1,268.92%	71.01%	14.78%	-123.35%	3,182.76%	89.24%	33.15%	-159.48%	85.39%	-13.78%
Net Income Q/Q Growth	1,624.01%	-146.27%	180.32%	-113.12%	954.23%	130.99%	2.50%	-145.94%	284.28%	-57.46%
EPS Q/Q Growth	1,400.00%	-150.00%	180.00%	-114.29%	1,066.67%	127.27%	0.00%	-150.00%	266.67%	-57.14%
Operating Cash Flow Q/Q Growth	-5.70%	60.24%	-50.84%	-15.28%	20.25%	50.46%	24.26%	-34.12%	-31.04%	37.15%
Free Cash Flow Firm Q/Q Growth	31.80%	-111.85%	-101.74%	-184.10%	104.45%	131.61%	41.89%	-72.16%	22.32%	-174.59%
Invested Capital Q/Q Growth	11.40%	12.89%	0.73%	-2.52%	16.41%	-5.18%	-7.16%	-3.36%	8.92%	25.35%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	70.84%	64.47%	62.60%	61.88%	71.39%	59.03%	60.42%	56.93%	69.10%	66.53%
EBITDA Margin	32.36%	11.14%	15.09%	7.06%	36.10%	15.74%	4.04%	-1.38%	34.86%	20.24%
Operating Margin	17.31%	-1.90%	-5.92%	-8.28%	24.13%	-0.90%	-11.26%	-19.26%	22.24%	14.92%
EBIT Margin	19.67%	-3.20%	0.06%	-7.90%	24.27%	-0.57%	-11.61%	-20.10%	21.06%	6.40%
Profit (Net Income) Margin	16.26%	-1.27%	2.93%	-3.68%	22.11%	2.79%	-9.04%	-10.60%	17.20%	5.16%
Tax Burden Percent	75.46%	279.75%	82.71%	90.79%	81.15%	94.11%	110.52%	63.50%	76.01%	70.41%
Interest Burden Percent	109.54%	14.20%	5,541.86%	51.32%	112.25%	-522.16%	70.41%	83.02%	107.49%	114.44%
Effective Tax Rate	24.54%	0.00%	17.29%	0.00%	18.85%	5.89%	0.00%	0.00%	23.99%	29.59%
Return on Invested Capital (ROIC)	24.34%	-2.81%	-10.49%	-11.85%	38.13%	-1.78%	-18.09%	-30.67%	36.83%	25.70%
ROIC Less NNEP Spread (ROIC-NNEP)	22.24%	-2.84%	-13.85%	-12.73%	36.85%	-3.15%	-17.67%	-31.59%	36.70%	27.97%
Return on Net Nonoperating Assets (RNNOA)	-10.11%	1.42%	7.52%	6.91%	-20.24%	1.83%	10.81%	19.15%	-21.53%	-16.50%
Return on Equity (ROE)	14.22%	-1.39%	-2.97%	-4.95%	17.89%	0.05%	-7.27%	-11.53%	15.30%	9.20%
Cash Return on Invested Capital (CROIC)	-23.66%	-24.39%	-6.14%	-0.56%	2.23%	6.57%	-15.51%	-17.23%	-7.81%	-0.21%
Operating Return on Assets (OROA)	7.98%	-1.43%	0.03%	-3.65%	9.69%	-0.24%	-5.18%	-9.62%	9.05%	3.17%
Return on Assets (ROA)	6.60%	-0.57%	1.32%	-1.70%	8.83%	1.18%	-4.03%	-5.07%	7.40%	2.55%
Return on Common Equity (ROCE)	14.22%	-1.39%	-2.97%	-4.95%	17.89%	0.05%	-7.27%	-11.53%	15.30%	9.20%
Return on Equity Simple (ROE_SIMPLE)	0.00%	6.58%	7.07%	4.26%	0.00%	1.03%	1.53%	5.89%	0.00%	15.09%
Net Operating Profit after Tax (NOPAT)	11	-0.96	-3.30	-3.87	17	-0.54	-4.99	-7.47	13	6.77
NOPAT Margin	13.06%	-1.33%	-4.90%	-5.80%	19.58%	-0.84%	-7.89%	-13.48%	16.90%	10.50%
Net Nonoperating Expense Percent (NNEP)	2.09%	0.03%	3.36%	0.88%	1.28%	1.37%	-0.41%	0.92%	0.13%	-2.28%
Return On Investment Capital (ROIC_SIMPLE)	3.53%	-	-	-	5.31%	-	-	-	4.02%	-
Cost of Revenue to Revenue	29.16%	35.53%	37.40%	38.12%	28.61%	40.97%	39.58%	43.07%	30.90%	33.47%
SG&A Expenses to Revenue	16.57%	21.08%	21.32%	21.03%	15.11%	18.86%	29.78%	22.69%	14.93%	18.79%
R&D to Revenue	9.16%	12.28%	12.87%	11.93%	8.09%	10.42%	10.63%	11.76%	7.97%	7.88%
Operating Expenses to Revenue	53.53%	66.37%	68.52%	70.17%	47.26%	59.92%	71.68%	76.19%	46.86%	51.61%
Earnings before Interest and Taxes (EBIT)	17	-2.30	0.04	-5.27	21	-0.36	-7.36	-11	16	4.13
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	28	8.00	10	4.71	31	10	2.56	-0.76	26	13
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.53	2.80	3.59	4.17	2.80	2.17	3.22	2.38	2.16	2.98
Price to Tangible Book Value (P/TBV)	2.88	3.22	4.09	4.75	3.18	2.48	3.68	2.71	2.45	3.43
Price to Revenue (P/Rev)	2.41	2.54	3.59	4.33	3.10	2.44	3.69	2.84	2.63	3.38
Price to Earnings (P/E)	56.12	42.60	50.72	97.91	93.23	212.03	210.42	40.44	23.46	19.73
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	1.78%	2.35%	1.97%	1.02%	1.07%	0.47%	0.48%	2.47%	4.26%	5.07%
Enterprise Value to Invested Capital (EV/IC)	3.41	4.00	6.22	7.58	4.90	3.89	6.30	4.18	3.62	5.57
Enterprise Value to Revenue (EV/Rev)	2.06	2.18	3.09	3.79	2.50	1.78	3.02	2.16	1.95	2.74
Enterprise Value to EBITDA (EV/EBITDA)	11.89	11.84	15.72	22.05	15.78	12.10	19.10	10.14	7.24	8.44
Enterprise Value to EBIT (EV/EBIT)	64.61	48.60	58.31	139.72	398.45	0.00	608.21	30.84	14.15	13.29
Enterprise Value to NOPAT (EV/NOPAT)	217.42	85.80	103.83	203.50	388.20	0.00	147.20	26.90	16.07	16.71
Enterprise Value to Operating Cash Flow (EV/OCF)	8.18	7.52	9.82	11.38	8.24	6.35	10.24	6.90	5.72	7.32
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	218.92	56.98	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.14	0.13	0.08	0.08	0.05	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	0.14	0.11	0.06	0.06	0.05	0.00	0.00	0.00	0.00	0.00
Financial Leverage	-0.45	-0.50	-0.54	-0.54	-0.55	-0.58	-0.61	-0.61	-0.59	-0.59
Leverage Ratio	2.50	2.36	2.18	2.02	2.20	2.09	1.99	1.87	2.09	2.03
Compound Leverage Factor	2.74	0.34	120.65	1.04	2.47	-10.92	1.40	1.55	2.25	2.32
Debt to Total Capital	12.48%	11.84%	7.52%	7.81%	5.01%	0.00%	0.00%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	0.00%	2.14%	2.22%	2.18%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	12.48%	9.71%	5.30%	5.62%	5.01%	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%
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%
Common Equity to Total Capital	87.52%	88.16%	92.48%	92.19%	94.99%	100.00%	100.00%	100.00%	100.00%	100.00%
Debt to EBITDA	0.78	0.66	0.41	0.51	0.37	0.00	0.00	0.00	0.00	0.00
Net Debt to EBITDA	-2.00	-1.97	-2.57	-3.13	-3.77	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to EBITDA	0.78	0.54	0.29	0.37	0.37	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	14.31	4.80	2.74	4.72	9.07	0.00	0.00	0.00	0.00	0.00
Net Debt to NOPAT	-36.58	-14.25	-16.99	-28.88	-92.80	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to NOPAT	14.31	3.93	1.93	3.40	9.07	0.00	0.00	0.00	0.00	0.00
Altman Z-Score	1.92	1.96	2.55	3.19	2.32	2.18	3.01	2.69	2.36	2.76
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.37	1.35	1.44	1.55	1.48	1.56	1.65	1.78	1.67	1.64
Quick Ratio	1.35	1.32	1.40	1.51	1.45	1.52	1.60	1.72	1.62	1.59
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-29	-42	-20	-9.81	18	8.75	-28	-48	-28	-36
Operating Cash Flow to CapEx	196.34%	117.61%	237.41%	302.47%	313.75%	357.07%	313.64%	171.93%	156.94%	161.36%
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
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
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
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.41	0.45	0.45	0.46	0.40	0.42	0.45	0.48	0.43	0.50
Accounts Receivable Turnover	0.73	0.87	0.93	1.00	0.77	0.90	0.99	1.09	0.85	1.02
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	4.88	4.64	4.49	4.45	4.05	3.75	3.97	4.46	4.23	4.06
Accounts Payable Turnover	0.28	0.32	0.35	0.39	0.32	0.37	0.39	0.43	0.31	0.33
Days Sales Outstanding (DSO)	501.45	419.98	394.17	364.79	471.45	404.26	369.90	334.42	427.97	358.18
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	1,326.43	1,153.34	1,050.79	926.63	1,149.65	990.30	932.21	853.35	1,168.13	1,097.51
Cash Conversion Cycle (CCC)	-824.98	-733.37	-656.63	-561.85	-678.20	-586.04	-562.31	-518.93	-740.17	-739.33
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	176	158	140	139	136	117	124	133	138	127
Invested Capital Turnover	1.86	2.11	2.14	2.04	1.95	2.11	2.29	2.28	2.18	2.45
Increase / (Decrease) in Invested Capital	40	41	16	5.94	-1.33	-9.29	23	40	40	42
Enterprise Value (EV)	601	632	871	1,054	668	456	779	557	499	705
Market Capitalization	702	737	1,014	1,204	828	628	949	730	673	871
Book Value per Share	$5.80	$5.31	$5.66	$5.77	$5.84	$5.56	$5.67	$5.80	$5.94	$5.59
Tangible Book Value per Share	$5.10	$4.62	$4.97	$5.07	$5.14	$4.87	$4.97	$5.11	$5.22	$4.85
Total Capital	317	299	306	313	312	289	295	306	312	293
Total Debt	40	35	23	24	16	0.00	0.00	0.00	0.00	0.00
Total Long-Term Debt	40	29	16	18	16	0.00	0.00	0.00	0.00	0.00
Net Debt	-101	-105	-143	-150	-160	-171	-171	-173	-174	-166
Capital Expenditures (CapEx)	9.19	16	5.03	8.03	9.14	6.68	5.05	7.42	12	17
Debt-free, Cash-free Net Working Capital (DFCFNWC)	16	3.04	3.03	5.89	7.02	-0.85	3.55	20	27	13
Debt-free Net Working Capital (DFNWC)	157	143	169	180	182	171	174	193	201	179
Net Working Capital (NWC)	157	137	162	173	182	171	174	193	201	179
Net Nonoperating Expense (NNE)	-2.73	-0.04	-5.27	-1.41	-2.14	-2.31	0.73	-1.60	-0.22	3.45
Net Nonoperating Obligations (NNO)	-101	-105	-143	-150	-160	-171	-171	-173	-174	-166
Total Depreciation and Amortization (D&A)	11	10	10	9.98	10	10	9.91	10	10	8.93
Debt-free, Cash-free Net Working Capital to Revenue	5.54%	1.05%	1.07%	2.11%	2.63%	-0.33%	1.38%	7.60%	10.55%	5.12%
Debt-free Net Working Capital to Revenue	53.81%	49.39%	59.75%	64.66%	68.30%	66.42%	67.74%	74.93%	78.58%	69.58%
Net Working Capital to Revenue	53.81%	47.20%	57.34%	62.21%	68.30%	66.42%	67.74%	74.93%	78.58%	69.58%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.28	($0.02)	$0.04	($0.05)	$0.36	$0.03	($0.11)	($0.11)	$0.25	$0.06
Adjusted Weighted Average Basic Shares Outstanding	49.21M	49.06M	49.78M	50.04M	51.76M	51.64M	52.03M	52.74M	52.28M	52.44M
Adjusted Diluted Earnings per Share	$0.26	($0.02)	$0.04	($0.05)	$0.35	$0.03	($0.11)	($0.11)	$0.22	$0.06
Adjusted Weighted Average Diluted Shares Outstanding	54.29M	49.06M	55.58M	50.04M	56.03M	55.98M	52.03M	52.74M	56.91M	56.94M
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
Adjusted Weighted Average Basic & Diluted Shares Outstanding	48.53M	47.77M	49.58M	49.93M	50.01M	50.76M	51.87M	51.94M	52.83M	52.57M
Normalized Net Operating Profit after Tax (NOPAT)	11	-0.96	-3.30	-3.87	17	-0.54	-4.99	-7.47	13	6.77
Normalized NOPAT Margin	13.06%	-1.33%	-4.90%	-5.80%	19.58%	-0.84%	-7.89%	-13.48%	16.90%	10.50%
Pre Tax Income Margin	21.54%	-0.45%	3.54%	-4.05%	27.24%	2.96%	-8.18%	-16.69%	22.63%	7.32%
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
NOPAT to Interest Expense	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
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
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%
Augmented Payout Ratio	619.64%	493.08%	369.15%	577.48%	667.36%	1,401.32%	520.39%	43.74%	0.00%	-1.82%

Frequently Asked Questions About PubMatic's Financials

When does PubMatic's fiscal year end?

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

How has PubMatic's net income changed over the last 2 years?

PubMatic's net income appears to be on a downward trend, with a most recent value of $12.50 million in 2024, falling from $28.71 million in 2022. The previous period was $8.88 million in 2023. See PubMatic's forecast for analyst expectations on what’s next for the company.

What is PubMatic's operating income?

PubMatic's total operating income in 2024 was $3.93 million, based on the following breakdown:

Total Gross Profit: $190.23 million
Total Operating Expenses: $186.30 million

How has PubMatic revenue changed over the last 2 years?

Over the last 2 years, PubMatic's total revenue changed from $256.38 million in 2022 to $291.26 million in 2024, a change of 13.6%.

How much debt does PubMatic have?

PubMatic's total liabilities were at $462.26 million at the end of 2024, a 15.8% increase from 2023, and a 40.1% increase since 2022.

How much cash does PubMatic have?

In the past 2 years, PubMatic's cash and equivalents has ranged from $78.51 million in 2023 to $100.45 million in 2024, and is currently $100.45 million as of their latest financial filing in 2024.

How has PubMatic's book value per share changed over the last 2 years?

Over the last 2 years, PubMatic's book value per share changed from 5.94 in 2022 to 5.80 in 2024, a change of -2.3%.

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This page (NASDAQ:PUBM) was last updated on 5/30/2025 by MarketBeat.com Staff

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PubMatic (PUBM) Financials

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