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PubMatic share price today

PubMatic, Inc. · PUBM · Technology · Software - Application · price as of the 4 November 2026 close, updated every trading day · results updated weekly · All US stock lists

PubMatic share price: $16.36 at the close on 4 November 2026, +121.1% in a year.

Getting worseBusiness trend from the last 12 quarters
$16.36Price +121.1% in a year
98.3×P/E too little history to compare yet
$78.6 MRevenue (Jun 2026) +10.5% on a year ago
−$1.2 MProfit (Jun 2026)
0.7%Operating margin +8.4 points on a year ago
−6%ROE FY25
−9.4%ROIC against a 12.6% cost of capital: −22.0 points

PubMatic, Inc.'s share price, valuation and earnings point in different directions. The next one or two quarters should make it clearer.

The main question: the share price moved +121.1% in a year while yearly earnings per share moved −234.8%. The difference came from the market paying a higher multiple.

The price has been between phases. Over the last four quarters, results have been improving, and 483% of the last 3 years' profit came in as cash. What will decide it: whether earnings grow into a price that has already moved.

What is the PubMatic share price today?

PubMatic, Inc.'s share price was $16.36 at the close on 4 November 2026. That is 33.8% above its average price over the last 200 trading days. In the last 52 weeks it traded between $6 and $19, and at that close it sat 81% of the way up from that low.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). The phase helps read everything below.

Over the past 13 weeks it has done worse than the S&P 500, and it has been behind for 1 week running.

Nov 2026: $16.36, 33.8% above its 200-day average.

  • Price $16.36
  • 50-day avg $17.35
  • 200-day avg $12.23
Nov 2026: $16.36, 33.8% above its 200-day average.
WeekPrice50-day avg200-day avg
11 Jul 2025$12.99––
18 Jul 2025$12.49––
25 Jul 2025$12.72––
1 Aug 2025$11.12––
8 Aug 2025$10.93––
15 Aug 2025$8.37––
22 Aug 2025$9.07––
29 Aug 2025$8.67––
5 Sep 2025$8.37––
12 Sep 2025$8.22––
19 Sep 2025$8.63$10.05–
26 Sep 2025$8.39$9.63–
3 Oct 2025$8.44$9.21–
10 Oct 2025$7.99$8.82–
17 Oct 2025$7.95$8.49–
24 Oct 2025$8.75$8.41–
31 Oct 2025$8.36$8.43–
7 Nov 2025$7.40$8.35–
14 Nov 2025$9.43$8.44–
21 Nov 2025$8.82$8.50–
28 Nov 2025$9.01$8.54–
5 Dec 2025$9.18$8.60–
12 Dec 2025$9.05$8.68–
19 Dec 2025$8.83$8.72–
26 Dec 2025$8.98$8.78–
2 Jan 2026$8.59$8.83–
9 Jan 2026$8.37$8.83–
16 Jan 2026$7.61$8.81–
23 Jan 2026$7.73$8.81–
30 Jan 2026$7.26$8.59–
6 Feb 2026$6.49$8.37–
13 Feb 2026$6.54$8.12–
20 Feb 2026$6.57$7.92–
27 Feb 2026$8.10$7.70–
6 Mar 2026$8.91$7.67–
13 Mar 2026$8.03$7.61–
20 Mar 2026$7.99$7.54–
27 Mar 2026$8.19$7.52–
2 Apr 2026$8.27$7.57–
10 Apr 2026$8.47$7.65–
17 Apr 2026$9.81$7.88–
24 Apr 2026$9.62$8.18$8.77
1 May 2026$10.23$8.52$8.70
8 May 2026$10.74$8.89$8.64
15 May 2026$9.72$9.02$8.57
22 May 2026$10.36$9.17$8.54
29 May 2026$11.68$9.41$8.55
5 Jun 2026$11.54$9.79$8.64
12 Jun 2026$11.35$10.10$8.71
18 Jun 2026$11.30$10.34$8.77
26 Jun 2026$12.65$10.64$8.85
2 Jul 2026$13.55$10.93$8.96
10 Jul 2026$13.55$11.32$9.08
17 Jul 2026$12.73$11.66$9.20
24 Jul 2026$12.52$11.91$9.31
31 Jul 2026$12.60$12.22$9.42
7 Aug 2026$17.78$12.61$9.58
14 Aug 2026$17.59$13.18$9.80
21 Aug 2026$16.41$13.72$10.01
28 Aug 2026$16.82$14.23$10.23
4 Sep 2026$16.50$14.75$10.41
11 Sep 2026$16.49$15.00$10.55
18 Sep 2026$17.55$15.36$10.76
25 Sep 2026$18.60$15.80$10.98
2 Oct 2026$18.42$16.40$11.22
9 Oct 2026$18.64$16.97$11.46
16 Oct 2026$16.64$17.44$11.69
23 Oct 2026$17.24$17.41$11.90
30 Oct 2026$15.89$17.38$12.11
4 Nov 2026$16.36$17.35$12.23
Weekly closing price ($) with its 50-day and 200-day averages. 1-year window.

Week by week since 2025: did it beat the S&P 500 over the past 13 weeks?

Ahead in 35 of 57 weeks

Week by week since 2025: did it beat the S&P 500 over the past 13 weeks?
Week13-week return vs S&P 500
11 Jul 2025no S&P 500 reading
18 Jul 2025no S&P 500 reading
25 Jul 2025no S&P 500 reading
1 Aug 2025no S&P 500 reading
8 Aug 2025no S&P 500 reading
15 Aug 2025no S&P 500 reading
22 Aug 2025no S&P 500 reading
29 Aug 2025no S&P 500 reading
5 Sep 2025no S&P 500 reading
12 Sep 2025no S&P 500 reading
19 Sep 2025no S&P 500 reading
26 Sep 2025no S&P 500 reading
3 Oct 2025no S&P 500 reading
10 Oct 2025−43.2%
17 Oct 2025−42.2%
24 Oct 2025−37.5%
31 Oct 2025−34.5%
7 Nov 2025−37.6%
14 Nov 2025+8.2%
21 Nov 2025−4.9%
28 Nov 2025−2.0%
5 Dec 2025+3.7%
12 Dec 2025+6.4%
19 Dec 2025−0.2%
26 Dec 2025+2.7%
2 Jan 2026−0.3%
9 Jan 2026−1.5%
16 Jan 2026−8.4%
23 Jan 2026−13.4%
30 Jan 2026−14.6%
6 Feb 2026−15.2%
13 Feb 2026−32.1%
20 Feb 2026−30.1%
27 Feb 2026−10.5%
6 Mar 2026−1.0%
13 Mar 2026−8.4%
20 Mar 2026−4.8%
27 Mar 2026−0.7%
2 Apr 2026+0.3%
10 Apr 2026+3.3%
17 Apr 2026+26.2%
24 Apr 2026+20.9%
1 May 2026+36.8%
8 May 2026+58.7%
15 May 2026+40.2%
22 May 2026+49.5%
29 May 2026+33.9%
5 Jun 2026+19.8%
12 Jun 2026+29.3%
18 Jun 2026+26.3%
26 Jun 2026+39.5%
2 Jul 2026+50.3%
10 Jul 2026+48.9%
17 Jul 2026+25.1%
24 Jul 2026+26.6%
31 Jul 2026+19.5%
7 Aug 2026+60.7%
14 Aug 2026+75.9%
21 Aug 2026+55.7%
28 Aug 2026+42.3%
4 Sep 2026+38.6%
11 Sep 2026+42.2%
18 Sep 2026+53.3%
25 Sep 2026+41.2%
2 Oct 2026+32.6%
9 Oct 2026+34.4%
16 Oct 2026+28.0%
23 Oct 2026+34.9%
30 Oct 2026+24.9%
4 Nov 2026−7.2%
Each bar is one week, from 2025 to now (57 weeks with a reading). Green means the stock's return over the previous 13 weeks beat the S&P 500; red means it trailed. The colour is strongest at a gap of 25 percentage points or more. A gap means there is no reading for that week.

Over the last 1 year the share price moved +26% while the S&P 500 moved +23%, so it is ahead of the index over that whole period. It was last ahead over 13 weeks in the week of 30 October 2026. The chart above shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

What dividend does PubMatic pay?

PubMatic, Inc. pays no dividend. In the last 12 reported quarters it declared no dividend per share, so there is no payout history to chart and no yield to show. Companies like this usually keep their earnings in the business, so the cash-flow sections show where that cash goes.

Which stock lists is PubMatic on?

PubMatic is on one of our US lists: US tech stocks.

Is PubMatic profitable?

PubMatic, Inc. posted a net loss of $1.2 M in the Jun 2026 quarter. The full FY25 year was a loss of $14.5 M. That loss is 1.5% of the quarter's revenue. The same quarter a year earlier lost $5.2 M. 7 of the last 12 reported quarters were loss-making.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

For the full year, FY25 profit was −$14.5 M (−215.7% on the year before).

FY25 profit −$14.5 M (−215.7% on the year before)

  • Net profit −$14.5 M
FY25 profit −$14.5 M (−215.7% on the year before)
QuarterNet profit
FY21$56.6 M
FY22$28.7 M
FY23$8.9 M
FY24$12.5 M
FY25−$14.5 M

Growth on a year earlier

  • Growth on a year earlier −215.7%
Growth on a year earlier
QuarterGrowth on a year earlier
FY21–
FY22−49.3%
FY23−69.1%
FY2440.8%
FY25−215.7%
Top: net profit each year, $ M. Below: growth on the year before, %. 5-year window. A grey bar is lower than the year before.

Jun 2026: −$1.2 M

  • Net profit (quarterly) −$1.2 M
Jun 2026: −$1.2 M
QuarterNet profit (quarterly)
Sep 2023$1.8 M
Dec 2023$18.7 M
Mar 2024−$2.5 M
Jun 2024$2.0 M
Sep 2024−$0.9 M
Dec 2024$13.9 M
Mar 2025−$9.5 M
Jun 2025−$5.2 M
Sep 2025−$6.5 M
Dec 2025$6.7 M
Mar 2026−$12.5 M
Jun 2026−$1.2 M

Growth on a year earlier

  • Growth on a year earlier −51.9%
Growth on a year earlier
QuarterGrowth on a year earlier
Sep 2023−46.7%
Dec 202346.3%
Mar 2024–
Jun 2024–
Sep 2024−151.4%
Dec 2024−25.7%
Mar 2025–
Jun 2025−364.2%
Sep 2025–
Dec 2025−51.9%
Mar 2026–
Jun 2026–
Top: net profit each quarter, $ M. Below: growth on the same quarter a year earlier, %. Last 12 quarters. A grey bar is lower than the quarter before.

How much revenue does PubMatic make, and is it growing?

PubMatic, Inc. reported $78.6 M of revenue in the Jun 2026 quarter, +10.5% on the same quarter a year earlier. Over 4 years it has grown 5.7% a year on average. The last full year, FY25, came in at $283 M. The last four reported quarters add to $289 M.

Revenue is everything the company billed its customers in the period.

FY25 revenue was $283 M, −2.9% on the year before.

FY25 revenue $283 M (−2.9% on the year before), 5.7% a year over 4 years

  • Revenue $283 M
FY25 revenue $283 M (−2.9% on the year before), 5.7% a year over 4 years
QuarterRevenue
FY21$227 M
FY22$256 M
FY23$267 M
FY24$291 M
FY25$283 M

Growth on a year earlier

  • Growth on a year earlier −2.9%
Growth on a year earlier
QuarterGrowth on a year earlier
FY21–
FY2213%
FY234.1%
FY249.1%
FY25−2.9%
Top: revenue each year, $ M. Below: growth on the year before, %. 5-year window. A grey bar is lower than the year before.

Jun 2026: $78.6 M (+10.5% on a year earlier)

  • Revenue (quarterly) $78.6 M
Jun 2026: $78.6 M (+10.5% on a year earlier)
QuarterRevenue (quarterly)
Sep 2023$63.7 M
Dec 2023$84.6 M
Mar 2024$66.7 M
Jun 2024$67.3 M
Sep 2024$71.8 M
Dec 2024$85.5 M
Mar 2025$63.8 M
Jun 2025$71.1 M
Sep 2025$68.0 M
Dec 2025$80.0 M
Mar 2026$62.6 M
Jun 2026$78.6 M

Growth on a year earlier

  • Growth on a year earlier 10.5%
Growth on a year earlier
QuarterGrowth on a year earlier
Sep 2023−1.3%
Dec 202313.9%
Mar 202420.4%
Jun 20246.2%
Sep 202412.7%
Dec 20241.1%
Mar 2025−4.3%
Jun 20255.7%
Sep 2025−5.3%
Dec 2025−6.4%
Mar 2026−2%
Jun 202610.5%
Top: revenue each quarter, $ M. Below: growth on the same quarter a year earlier, %. Last 12 quarters. A grey bar is lower than the quarter before.

Recent pace: the last four quarters grew −0.8% on average, against 5.7% a year over the longer run, so this year is growing slower than its own long-run rate.

Is growth speeding up? Revenue over the last 12 months grew −1.0%, against +1.2% a year over the last 8 quarters (stabilising).

How much of every $100 of sales does PubMatic keep?

PubMatic, Inc.'s operating margin was 0.7% in the Jun 2026 quarter, 8.4 percentage points higher than the same quarter a year ago. Across 5 years it has been between −5.8% and 25.9%. The latest quarter is within that range.

Operating margin is what is left from every $100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.

Why the margin moved: operating margin changed +8.4 percentage points on the year while gross margin changed +4.5 points. So the gain came mostly from costs below the gross margin, such as staff and overheads, measured against sales.

FY25: −5.8%, within a range of −5.8% to 25.9% over 5 years

  • Operating margin −5.8%
FY25: −5.8%, within a range of −5.8% to 25.9% over 5 years
QuarterOperating margin
FY2125.9%
FY2216.2%
FY230.8%
FY241.3%
FY25−5.8%

Change on the year before (points)

  • Change on the year before (points) −7.1 pts
Change on the year before (points)
QuarterChange on the year before (points)
FY21–
FY22−9.7 pts
FY23−15.4 pts
FY24+0.5 pts
FY25−7.1 pts
Operating margin each year, % (top). Below: change on the year before, in percentage points. 5-year window.

Jun 2026: operating margin 0.7% (+8.4 points on a year earlier)

  • Operating margin 0.7%
Jun 2026: operating margin 0.7% (+8.4 points on a year earlier)
QuarterOperating margin
Sep 2023−0.9%
Dec 202324.1%
Mar 2024−8.3%
Jun 2024−5.9%
Sep 2024−1.9%
Dec 202417.3%
Mar 2025−18.6%
Jun 2025−7.7%
Sep 2025−12.4%
Dec 202511.8%
Mar 2026−24.4%
Jun 20260.7%

Change on a year earlier (points)

  • Change on a year earlier (points) +8.4 pts
Change on a year earlier (points)
QuarterChange on a year earlier (points)
Sep 2023−17.2 pts
Dec 2023+1.8 pts
Mar 2024+11.0 pts
Jun 2024+5.4 pts
Sep 2024−1.0 pts
Dec 2024−6.8 pts
Mar 2025−10.3 pts
Jun 2025−1.8 pts
Sep 2025−10.5 pts
Dec 2025−5.5 pts
Mar 2026−5.8 pts
Jun 2026+8.4 pts
Top: quarterly operating margin, %. Below: change on the same quarter a year earlier, in percentage points. Last 12 quarters. Operating profit as a share of revenue, each quarter.

Is PubMatic's profit turning into cash?

Over the last 3 years, 483% of PubMatic, Inc.'s reported profit came in as cash from its operations, so the profit is backed by cash. In FY25 it brought in $81.1 M of operating cash against −$14.5 M of profit. After $14.3 M of spending on assets, $66.7 M was left over as free cash.

The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.

Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.

FY25: operating cash $81.1 M against profit −$14.5 M; 483% of 3 years' profit came in as cash

  • Operating cash $81.1 M
  • Net profit −$14.5 M
  • Free cash $66.7 M
FY25: operating cash $81.1 M against profit −$14.5 M; 483% of 3 years' profit came in as cash
QuarterOperating cashNet profitFree cash
FY21$88.7 M$56.6 M$58.2 M
FY22$87.2 M$28.7 M$51.3 M
FY23$81.1 M$8.9 M$70.5 M
FY24$73.4 M$12.5 M$55.8 M
FY25$81.1 M−$14.5 M$66.7 M
Operating cash flow and net profit each year, $ M. The line is free cash flow: operating cash minus spending on assets. 5-year window, yearly figures.

Jun 2026: operating cash $20.2 M

  • Operating cash (quarterly) $20.2 M
Jun 2026: operating cash $20.2 M
QuarterOperating cash (quarterly)
Sep 2023$23.8 M
Dec 2023$28.7 M
Mar 2024$24.3 M
Jun 2024$11.9 M
Sep 2024$19.1 M
Dec 2024$18.0 M
Mar 2025$15.6 M
Jun 2025$14.9 M
Sep 2025$32.4 M
Dec 2025$18.2 M
Mar 2026$17.3 M
Jun 2026$20.2 M

Operating cash as % of profit

  • Operating cash as % of profit 272%
Operating cash as % of profit
QuarterOperating cash as % of profit
Sep 20231,344%
Dec 2023153%
Mar 2024–
Jun 2024606%
Sep 2024–
Dec 2024130%
Mar 2025–
Jun 2025–
Sep 2025–
Dec 2025272%
Mar 2026–
Jun 2026–
Top: operating cash each quarter, $ M. Below: operating cash as a % of net profit; 100% means all of the quarter's profit came in as cash. Last 12 quarters.

Why: the cash figure is clear, but the day counts behind it are not in our data, so we show it without guessing the reason.

What to look at next: the main use of cash is spending on assets. The next section checks what that spending is building.

Where does PubMatic's cash go?

PubMatic, Inc. does not report the customer, stock and supplier day counts a cash cycle needs, so this section looks at its spending on assets instead. It spent $42.5 M on assets over the last 3 years. Averaged over those years that is 5.0% of FY25 revenue a year.

Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.

Nothing is estimated in place of the missing day counts, so no cash-cycle chart is drawn.

Spending on assets: $42.5 M over the last 3 years.

FY25: capex $14.3 M, steady spending

  • Capex $14.3 M
FY25: capex $14.3 M, steady spending
QuarterCapex
FY21$30.4 M
FY22$35.9 M
FY23$10.6 M
FY24$17.6 M
FY25$14.3 M
Capital spending each year, $ M.

Jun 2026: capex $3.0 M in the quarter

  • Capex (quarterly) $3.0 M
Jun 2026: capex $3.0 M in the quarter
QuarterCapex (quarterly)
Sep 2023$2.9 M
Dec 2023$5.2 M
Mar 2024$0.8 M
Jun 2024$0.7 M
Sep 2024$11.7 M
Dec 2024$4.3 M
Mar 2025$1.4 M
Jun 2025$1.3 M
Sep 2025$4.7 M
Dec 2025$6.9 M
Mar 2026$0
Jun 2026$3.0 M

Free cash

  • Free cash $17.3 M
Free cash
QuarterFree cash
Sep 2023$21.0 M
Dec 2023$23.5 M
Mar 2024$23.5 M
Jun 2024$11.2 M
Sep 2024$7.4 M
Dec 2024$13.7 M
Mar 2025$14.2 M
Jun 2025$13.6 M
Sep 2025$27.7 M
Dec 2025$11.3 M
Mar 2026$17.3 M
Jun 2026$17.3 M
Top: capital spending each quarter, $ M. Below: free cash flow, $ M. Last 12 quarters.

In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns.

What is PubMatic's P/E ratio, and how does it compare with its own history?

PubMatic, Inc.'s P/E is 98.3×, with too little history to compare. Its usual P/E (the middle reading) is 101.5×, over 4 months of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.

P/E is the share price divided by a year's profit per share: how many dollars the market pays for each dollar of yearly profit.

P/E 98.3× against a usual 101.5×: with too little history to compare

  • P/E 98.3×
  • Median 101.5×
P/E 98.3× against a usual 101.5×: with too little history to compare
WeekP/EMedian
11 Jul 2025152.8×101.5×
18 Jul 2025146.9×101.5×
25 Jul 2025149.7×101.5×
1 Aug 2025130.8×101.5×
8 Aug 2025128.6×101.5×
15 Aug 202598.5×101.5×
22 Aug 2025106.7×101.5×
29 Aug 2025102.0×101.5×
5 Sep 202598.5×101.5×
12 Sep 202596.7×101.5×
19 Sep 2025101.5×101.5×
26 Sep 202598.7×101.5×
3 Oct 202599.3×101.5×
10 Oct 202594.0×101.5×
17 Oct 202593.5×101.5×
24 Oct 2025102.9×101.5×
31 Oct 202598.3×101.5×

Earnings per share, 12 months

  • Earnings per share, 12 months $0.09
Earnings per share, 12 months
WeekEarnings per share, 12 months
11 Jul 2025–
18 Jul 2025–
25 Jul 2025–
1 Aug 2025–
8 Aug 2025–
15 Aug 2025–
22 Aug 2025–
29 Aug 2025–
5 Sep 2025–
12 Sep 2025–
19 Sep 2025–
26 Sep 2025$0.09
3 Oct 2025$0.09
10 Oct 2025$0.09
17 Oct 2025$0.09
24 Oct 2025$0.09
31 Oct 2025$0.09
Top: P/E each week. Below: earnings per share, trailing twelve months, a step line that moves once a quarter; 4 months of history; short peaks above 153× are drawn at the top edge.

PEG 8.50 at the Jun 2026 quarter end: above 1.0, so the P/E is bigger than the earnings growth rate

  • PEG 6.00×
  • PEG = 1.0 1.00×
PEG 8.50 at the Jun 2026 quarter end: above 1.0, so the P/E is bigger than the earnings growth rate
QuarterPEGPEG = 1.0
Sep 20213.32×1.00×
Dec 20213.32×1.00×
Mar 20223.32×1.00×
Jun 20223.32×1.00×
Sep 20221.53×1.00×
Dec 20221.01×1.00×
Mar 20236.00×1.00×
Jun 20236.00×1.00×
Sep 20236.00×1.00×
Dec 20236.00×1.00×
Mar 20246.00×1.00×
Jun 20246.00×1.00×
Sep 20246.00×1.00×
Dec 20246.00×1.00×
Mar 20256.00×1.00×
Jun 20256.00×1.00×
Sep 20256.00×1.00×
Dec 20256.00×1.00×
Mar 20266.00×1.00×
Jun 20266.00×1.00×
PEG each quarter: the P/E divided by the yearly growth rate of earnings. The flat line marks 1.0. Below it the P/E is smaller than the growth rate; above it the P/E is bigger. Last 20 quarters; values above 6 are drawn at the top edge.
98.3×P/E · too little history to compare
n/mPEG · cannot be worked out, because 3-year earnings growth is not available

Why the multiple is where it is: over the past year earnings per share moved −234.8% while the price moved +121.1%. The price did better than earnings, which pushed the multiple up within its own range.

In short: there is too little history to say whether the multiple is high or low for this company, so the earnings trend underneath matters more than the multiple.

Is the PubMatic business getting better or worse?

PubMatic, Inc.'s business is getting worse. Revenue, profit and EPS growth are shrinking: revenue growth is −1.0% in the latest quarter, against +13.1% at its best in 12 quarters, with ROCE steady at -4.9%. This is based on 12 quarters of 4 measures.

Every business is somewhere on a path of getting better or worse, and this section names where. The last 12 quarters of growth in revenue, profit and earnings per share, plus the return the business earns on its capital, are read as lines. Getting worse: the lines are falling. Turning around: a low point has just formed and the last few quarters are rising from it. Getting better: the rise from the low has lasted. Growing steadily: steady growth with healthy returns. Slowing from a peak: still high, but slowing. When the lines disagree the result is mixed; too little history means no reading. CAGR (compound annual growth rate) is the steady yearly rate that would turn the starting value into the latest one. It is the fairest way to compare growth over different periods. If the 1-year figure is much bigger than the 10-year one, recent growth is running faster than the long-run trend. A dash means there is no figure for that period, or the starting year was a loss, where a growth rate means nothing.

Growth year by year: revenue −2.9% in FY25, profit −215.7%

  • Revenue growth −2.9%
Growth year by year: revenue −2.9% in FY25, profit −215.7%
QuarterRevenue growth
FY21–
FY2213%
FY234.1%
FY249.1%
FY25−2.9%

Profit growth, EPS growth

  • Profit growth −215.7%
  • EPS growth −234.8%
Profit growth, EPS growth
QuarterProfit growthEPS growth
FY21––
FY22−49.3%−50%
FY23−69.1%−68%
FY2440.8%43.8%
FY25−215.7%−234.8%
Growth on the year before, each year, %. Top: revenue. Below: net profit and earnings per share, on their own scale because profit growth swings much more. Zero line drawn.

Three growth lines over twelve quarters: revenue stabilising

  • Revenue −1%
Three growth lines over twelve quarters: revenue stabilising
QuarterRevenue
Sep 2023−0.4%
Dec 20234.1%
Mar 20248.2%
Jun 20249.6%
Sep 202413.1%
Dec 20249.1%
Mar 20253.6%
Jun 20253.5%
Sep 2025−0.7%
Dec 2025−2.9%
Mar 2026−2.3%
Jun 2026−1%

Profit, EPS

  • Profit −300%
  • EPS −300%
Profit, EPS
QuarterProfitEPS
Sep 2023−93.3%−96.3%
Dec 2023−69.1%−69.6%
Mar 2024−31.9%−30.8%
Jun 2024300%300%
Sep 2024300%300%
Dec 202440.8%54.4%
Mar 2025−55.5%−60.3%
Jun 2025−108.5%−117.9%
Sep 2025−141.9%−159.5%
Dec 2025−215.7%−235.2%
Mar 2026−300%−300%
Jun 2026––
Growth on a year earlier, % at each quarter end. Top: revenue. Below: profit and earnings per share, on their own scale because they swing much more. Each is measured over the last 12 months. Extreme jumps from a tiny base are drawn at the edge (▲). A gap means there is no reading for that quarter.

ROCE: the return line, worked out each quarter

  • ROCE −4.9%
ROCE: the return line, worked out each quarter
QuarterROCE
Sep 2023−0.6%
Dec 2023–
Mar 2024–
Jun 2024–
Sep 2024–
Dec 2024–
Mar 2025–
Jun 2025–
Sep 2025–
Dec 2025−5.2%
Mar 2026−6.5%
Jun 2026−4.9%
Operating profit over the last 12 months (before interest and tax) as a share of average capital employed (total assets minus current liabilities), %.
FlatRevenue growth · latest −1.0%, range −2.9% to +13.1%
FallingProfit growth · latest −419.6%, range −419.6% to +484.7%
FallingEPS growth · latest −556.9%, range −556.9% to +999.8%
Stuck lowROCE · latest −4.9%, range −6.5% to −0.6%

Why it matters: falling lines mean any ratio below that looks low should be read with that direction in mind.

Compound annual growth rate (%)

Compound annual growth rate over each period, %. Revenue, profit and EPS come from yearly figures; the stock price row is price growth over the same periods. A dash means no figure for that period, or the starting year was a loss.

Compound annual growth rate (%)
Measure1yr3yr5yr10yr
Revenue−2.9%+3.3%——
Stock price+121.1%———
+10.5%Revenue growth (Jun 2026) · latest quarter against a year ago
5.7%Revenue, 4 years · yearly growth over the long run

How much does PubMatic earn on its capital?

PubMatic, Inc. earned a ROE of −6% in FY25. Its return on capital used (ROIC) is 22.0 percentage points below its cost of capital, so growth here does not yet pay for the capital it uses. It comes from a −5.1% net margin and 0.42× asset turnover (sales divided by assets).

Return on equity (ROE) is the profit the business earns on its shareholders’ money. We do not have the full capital split, so ROE is the longest history we can draw here.

Why the return is what it is (FY25): a −5.1% net margin × 0.42× asset turnover × 2.59× leverage (assets divided by equity) ≈ −5.5% on equity. The margin does its share; borrowing is a big part of it.

The key test, return on capital used minus the cost of capital: −9.4% − 12.6% = −22.0 percentage points. The 12.6% is an estimate of this company's own cost of capital. Read the sign and size of the gap, not the decimals. Negative: growth at these returns loses value until returns improve.

FY25: ROE −6%, the full history

  • ROE −5.5%
  • ROIC (annual) −9.5%
  • Cost of capital 12.6%
FY25: ROE −6%, the full history
QuarterROEROIC (annual)Cost of capital
FY2122%52.8%12.6%
FY229.2%22.3%12.6%
FY233%1.1%12.6%
FY244.5%1.7%12.6%
FY25−5.5%−9.5%12.6%
Return on equity each year, % (line); ROIC each year, % (line). 5-year window, low years included. The flat line is the 12.6% cost of capital used on this page.

Jun 2026: ROIC −9.9% (last 12 months) against a 12.6% cost of capital

  • ROIC (12 months) −9.9%
  • ROE (12 months) −19.5%
  • Cost of capital 12.6%
Jun 2026: ROIC −9.9% (last 12 months) against a 12.6% cost of capital
QuarterROIC (12 months)ROE (12 months)Cost of capital
Sep 2023−4.6%−7.6%12.6%
Dec 2023−0.4%2.4%12.6%
Mar 202411.7%25.6%12.6%
Jun 2024−3.9%−3.4%12.6%
Sep 2024−2.4%2.8%12.6%
Dec 2024−0.9%−1.3%12.6%
Mar 20256.5%20.6%12.6%
Jun 2025−6.6%−13.7%12.6%
Sep 2025−3.1%−8%12.6%
Dec 2025−5.2%−10.6%12.6%
Mar 20264.2%10.5%12.6%
Jun 2026−9.9%−19.5%12.6%
ROIC and ROE over the last 12 months, each quarter, %; the flat line is the cost of capital. Last 12 quarters, lined up with the yearly figure.

Does PubMatic have too much debt?

PubMatic, Inc. has total debt of $40.9 M against shareholder equity of $239 M as of Jun 2026, so its debt is 0.17× its equity, which is very little. Year by year, that ratio went from 0.09 in FY21 to 0.17 in FY25. So the returns on this page come from the business, not from borrowed money.

Debt-to-equity shows how much of the business is paid for with borrowed money. Lower is safer, and the direction matters as much as the level.

FY25: debt $44.2 M, 0.17× equity

  • Total debt $44.2 M
FY25: debt $44.2 M, 0.17× equity
QuarterTotal debt
FY21$22.6 M
FY22$27.3 M
FY23$22.5 M
FY24$45.9 M
FY25$44.2 M

Debt-to-equity

  • Debt-to-equity 0.17×
Debt-to-equity
QuarterDebt-to-equity
FY210.09×
FY220.09×
FY230.08×
FY240.17×
FY250.17×
Top: total debt each year, $ M. Below: debt-to-equity, ×. 5-year window.

Jun 2026: debt $40.9 M, debt-to-equity 0.17

  • Total debt (quarterly) $40.9 M
Jun 2026: debt $40.9 M, debt-to-equity 0.17
QuarterTotal debt (quarterly)
Sep 2023$23.1 M
Dec 2023$22.5 M
Mar 2024$25.0 M
Jun 2024$23.5 M
Sep 2024$35.9 M
Dec 2024$45.9 M
Mar 2025$45.3 M
Jun 2025$45.7 M
Sep 2025$45.0 M
Dec 2025$44.2 M
Mar 2026$42.7 M
Jun 2026$40.9 M

Debt-to-equity

  • Debt-to-equity 0.17×
Debt-to-equity
QuarterDebt-to-equity
Sep 20230.08×
Dec 20230.08×
Mar 20240.09×
Jun 20240.08×
Sep 20240.14×
Dec 20240.17×
Mar 20250.16×
Jun 20250.19×
Sep 20250.18×
Dec 20250.17×
Mar 20260.17×
Jun 20260.17×
Top: total debt each quarter, $ M. Below: debt-to-equity, ×. Last 12 quarters.

What is the PubMatic shareholding pattern?

9.2% of PubMatic, Inc.'s tradable shares are in short positions, which are bets that the price will fall, so some traders are betting against it. At normal trading volumes, closing those positions would take about 4.0 days. US companies do not publish a quarter-by-quarter list of owners, so this page uses short interest instead.

There is no quarter-by-quarter list of owners here, so we look at short interest: the share of tradable shares held in short positions, which gain if the price falls.

It is a single reading at one point in time; we do not have its history.

9.2%Short interest · of the tradable float
4.0Days to cover · at typical volumes

Why it is at this level: the figure does not say who has the short positions or why, so we show the level without guessing the story.

How far is PubMatic from balance-sheet trouble?

For PubMatic, Inc., the Z-score is 1.35. A Z-score above about 3 is safe and below about 1.8 signals danger, so this is in the danger zone. It estimates how far the balance sheet is from trouble; it is not a forecast of failure.

The Z-score estimates how far a company is from balance-sheet trouble. Above about 3 is safe; below about 1.8 is the danger zone. It was built for manufacturers, so it is not used for banks and lenders.

Why it matters: a Z-score of 1.35 is inside the danger zone, so the balance sheet is a real risk.

How does PubMatic rank in its industry?

There is no score against its industry: PubMatic, Inc. is not among the largest members shown in this industry comparison for Software - Application.

The score ranks a company within its industry: each measure is scored against the other members. Without that group there is no score, so none is shown.

Which companies is PubMatic compared with?

No sector comparison is shown here, not among the largest members shown in this industry comparison.

Which companies are close to PubMatic in size?

PubMatic is the 111th largest of 142 Software - Application companies on Sector Alpha by market value (scores of 4 November 2026). Just above it: Similarweb, MNTN, Inc. and Docebo Inc. Just below it: VTEX, Sprout Social, Inc. and MMTec, Inc.

Software - Application companies close in size

  1. Similarweb Ltd. $777 million
  2. MNTN, Inc. $776 million
  3. Docebo Inc. $771 million
  4. PubMatic, Inc. $745 million
  5. VTEX $693 million
  6. Sprout Social, Inc. $630 million
  7. MMTec, Inc. $535 million

All 142 Software - Application companies, largest first

Companies close in size in other industries

  1. FinVolution Group $747 million · Credit Services
  2. VersaBank $747 million · Banks - Regional
  3. PubMatic, Inc. $745 million
  4. Himalaya Shipping Ltd. $745 million · Marine Shipping
  5. Osisko Development Corp. $744 million · Gold

What else do people ask about PubMatic?

What were PubMatic's latest quarterly results?

PubMatic, Inc. reported revenue of $78.6 M and a net loss of $1.2 M for the Jun 2026 quarter. Earnings per share were −$0.03. The operating margin was 0.7%, 8.4 percentage points higher than a year earlier (as of 4 November 2026).

What is PubMatic's market cap?

PubMatic, Inc.'s market capitalisation is $745 M at a stock price of $16.36. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 4 November 2026).

How is PubMatic performing?

PubMatic, Inc.'s latest readings are below. Over the past 13 weeks it has done worse than the S&P 500, for 1 week running. This describes what the data did, not a rating (as of 4 November 2026).

Will PubMatic's stock price go up?

This page does not forecast PubMatic, Inc.'s stock price. What it shows instead: the stock price is $16.36. Nobody can reliably say which way a price will move, and this site does not try (as of 4 November 2026).

Is PubMatic's profit real cash?

Yes, over the last 3 years, 483% of PubMatic, Inc.'s reported profit came in as cash from operations. The latest year was lower at -560%, so the trend is worth watching. In FY25, operating cash was $81.1 M against reported profit of −$14.5 M.

Most of that cash then goes into building new capacity. These are yearly figures (as of 4 November 2026).

Where is PubMatic in its business cycle?

PubMatic, Inc.'s FY25 operating margin was −5.8%, against a 5-year range of −5.8% to 25.9%: the low end of its own range, which is often where recoveries start. The latest quarter was 0.7%.

Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 4 November 2026).

What could break the PubMatic story?

The main question: the share price moved +121.1% in a year while yearly earnings per share moved −234.8%. The difference came from the market paying a higher multiple.

On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 4 November 2026).

Is PubMatic a stock worth studying right now?

What the numbers show: PubMatic, Inc.'s share price, valuation and earnings point in different directions. The next one or two quarters should make it clearer. The main open question: whether earnings grow into a price that has already moved.

Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 4 November 2026).

Where do these numbers come from?

Sector Alpha, written by code from the published numbers. Data as of 4 November 2026.

Every chart on this page is drawn by code from the published figures, with no forecasts and no price opinions.

See the plain-text version of this page.

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