PDF Solutions, Inc. (PDFS) Key Metrics
PDFS valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $1.66B
- Enterprise value
- $2.00B
- P/E (TTM)
- 156.9 10-yr median 260.6
- Forward P/E
- 27.6
- PEG ratio
- 4.19
- Price / sales
- 6.9 10-yr median 6.6
- Price / book
- 5.5 10-yr median 3.9
- EV / EBITDA
- 56.0 10-yr median 95.1
- Dividend yield
- —
- Beta
- 1.66
PDFS key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsPDFS valuation Price multiples at each fiscal year-end price.
PDFS returns How much profit the business earns on the capital it uses.
PDFS per-share figures Results divided by the shares outstanding at year-end.
PDFS financial health Debt, liquidity and how easily interest is covered.
PDFS efficiency & capital use Working capital cycle and where the cash goes.
PDFS valuation history
PDFS returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
PDFS debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
PDFS cash returned to shareholders
PDFS price vs earnings per share
PDFS key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $1.12B | $1.06B | $1.25B | $1.06B | $1.18B | $744.3M | $547.4M | $271.2M | $503.0M | $731.3M |
| Enterprise value | $1.16B | $947.7M | $1.12B | $932.2M | $1.05B | $607.4M | $459.4M | $175.1M | $401.7M | $614.5M |
| P/E ratio | — | 260.6 | 403.0 | — | — | — | — | — | — | 80.3 |
| Price / sales | 5.1 | 5.9 | 7.5 | 7.2 | 10.6 | 8.5 | 6.4 | 3.2 | 4.9 | 6.8 |
| Price / book | 4.1 | 4.3 | 5.5 | 5.1 | 5.4 | 3.2 | 2.8 | 1.4 | 2.5 | 3.7 |
| Price / free cash flow | — | — | 400.5 | 44.9 | — | 50.2 | 39.0 | — | — | — |
| Price / operating cash flow | 46.6 | 109.0 | 85.7 | 32.9 | 278.3 | 34.2 | 22.3 | 20.3 | 47.7 | 365.7 |
| EV / sales | 5.3 | 5.3 | 6.8 | 6.3 | 9.4 | 6.9 | 5.4 | 2.0 | 3.9 | 5.7 |
| EV / EBITDA | 62.5 | 121.6 | 133.8 | 134.8 | — | — | — | — | 68.7 | 35.4 |
| EV / free cash flow | — | — | 359.1 | 39.3 | — | 41.0 | 32.7 | 788.7 | — | — |
| Earnings yield | −0.1% | 0.4% | 0.2% | −0.3% | −1.8% | −5.4% | −1.0% | −2.8% | −0.3% | 1.2% |
| Free cash flow yield | −0.8% | −0.7% | 0.2% | 2.2% | 0.0% | 2.0% | 2.6% | 0.1% | 0.1% | −1.3% |
| Dividend yield | — | — | — | — | — | — | — | — | 0.0% | 0.0% |
| Shareholder yield (dividends + buybacks) | 0.0% | 0.7% | 0.1% | 2.1% | 0.4% | 0.6% | 1.8% | 1.9% | 2.7% | 0.3% |
| Share price at fiscal year-end | $28.53 | $27.08 | $32.14 | $28.52 | $31.79 | $21.60 | $16.89 | $8.43 | $15.70 | $22.55 |
| Per share | ||||||||||
| Revenue per share | $5.57 | $4.60 | $4.26 | $3.98 | $2.99 | $2.56 | $2.64 | $2.67 | $3.18 | $3.31 |
| Earnings per share | −$0.02 | $0.10 | $0.08 | −$0.09 | −$0.58 | −$1.17 | −$0.17 | −$0.24 | −$0.04 | $0.28 |
| Operating cash flow per share | $0.61 | $0.25 | $0.37 | $0.87 | $0.11 | $0.63 | $0.76 | $0.41 | $0.33 | $0.06 |
| Free cash flow per share | −$0.22 | −$0.19 | $0.08 | $0.64 | $0.01 | $0.43 | $0.43 | $0.01 | $0.01 | −$0.29 |
| Cash per share | $1.07 | $2.94 | $3.48 | $3.73 | $3.78 | $4.22 | $3.01 | $2.99 | $3.16 | $3.60 |
| Book value per share | $6.89 | $6.30 | $5.88 | $5.63 | $5.91 | $6.81 | $6.05 | $6.21 | $6.19 | $6.13 |
| Tangible book value per share | $3.15 | $5.60 | $5.09 | $4.77 | $4.96 | $5.63 | $5.79 | $5.99 | $5.94 | $5.99 |
| Dividends per share | — | — | — | — | — | — | — | — | $0.00 | $0.00 |
| Capex per share | $0.83 | $0.44 | $0.29 | $0.23 | $0.11 | $0.20 | $0.33 | $0.41 | $0.32 | $0.35 |
| Debt per share | $1.95 | $0.13 | $0.16 | $0.20 | $0.19 | $0.24 | $0.29 | — | $0.00 | $0.00 |
| Shares outstanding | 39.3M | 39.0M | 38.9M | 37.3M | 37.1M | 34.5M | 32.4M | 32.2M | 32.0M | 32.4M |
| Change in shares outstanding | +0.7% | +0.3% | +4.4% | +0.5% | +7.8% | +6.3% | +0.8% | +0.4% | −1.2% | +0.8% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | −0.2% | 1.7% | 1.4% | −1.6% | −9.5% | −18.7% | −2.7% | −3.9% | −0.7% | 4.9% |
| Return on invested capital (ROIC) | 1.3% | −0.3% | −0.8% | −1.8% | −14.3% | −12.9% | −5.6% | −7.8% | 0.2% | 14.0% |
| Return on assets (ROA) | −0.2% | 1.3% | 1.1% | −1.2% | −7.7% | −15.3% | −2.3% | −3.4% | −0.6% | 4.4% |
| Return on tangible assets | −0.2% | 1.4% | 1.2% | −1.4% | −9.0% | −16.3% | −2.3% | −3.5% | −0.6% | 4.2% |
| Free cash flow margin | −3.9% | −4.2% | 1.9% | 16.0% | 0.2% | 16.8% | 16.4% | 0.3% | 0.3% | −8.6% |
| Income quality (OCF / net income) | — | 2.39 | 4.70 | — | — | — | — | — | — | 0.22 |
| Financial health | ||||||||||
| Total debt | $76.7M | $5.2M | $6.2M | $7.3M | $7.0M | $8.4M | $9.5M | — | $1,000 | $0 |
| Cash & short-term investments | $42.2M | $114.9M | $135.5M | $139.2M | $140.2M | $145.3M | $97.6M | $96.1M | $101.3M | $116.8M |
| Net debt | $34.4M | −$109.7M | −$129.3M | −$131.8M | −$133.2M | −$136.9M | −$88.1M | −$96.1M | −$101.3M | −$116.8M |
| Debt / equity | 0.28 | 0.02 | 0.03 | 0.03 | 0.03 | 0.04 | 0.05 | — | 0.00 | 0.00 |
| Debt / assets | 0.18 | 0.02 | 0.02 | 0.03 | 0.03 | 0.03 | 0.04 | — | 0.00 | 0.00 |
| Net debt / EBITDA | 1.86 | −14.08 | −15.42 | −19.06 | — | — | — | — | −17.32 | −6.73 |
| Current ratio | 2.28 | 3.40 | 3.89 | 3.32 | 4.30 | 4.58 | 5.27 | 8.05 | 8.29 | 9.19 |
| Quick ratio | 2.28 | 3.40 | 3.89 | 3.32 | 4.30 | 4.58 | 5.27 | 8.05 | 8.29 | 9.19 |
| Interest coverage | 1.5 | -0.1 | -0.2 | -1.2 | -24.4 | -13.2 | -27.0 | -20.2 | 1.6 | — |
| Working capital | $92.0M | $145.4M | $147.0M | $135.2M | $144.7M | $151.2M | $119.6M | $137.7M | $144.1M | $151.8M |
| Invested capital | $305.5M | $136.3M | $99.6M | $78.2M | $86.4M | $97.7M | $108.1M | $103.7M | $97.1M | $82.0M |
| Tangible asset value | $123.8M | $218.8M | $198.3M | $177.8M | $184.2M | $194.2M | $187.6M | $192.8M | $190.4M | $194.4M |
| Net current asset value | $16.2M | $136.7M | $136.7M | $124.7M | $134.3M | $140.3M | $104.2M | $131.1M | $138.1M | $146.8M |
| Graham number | — | $3.84 | $3.25 | — | — | — | — | — | — | $6.22 |
| Graham net-net per share | −$1.10 | $2.58 | $2.77 | $2.74 | $3.13 | $3.42 | $2.61 | $3.38 | $3.70 | $3.99 |
| Capital allocation | ||||||||||
| Dividends paid | — | — | — | — | — | — | — | — | $0 | $0 |
| Share buybacks (net) | $244,000 | $6.9M | $743,000 | $22.5M | $4.5M | $4.5M | $9.6M | $5.2M | $13.4M | $2.2M |
| Dividend payout ratio | — | — | — | — | — | — | — | — | — | 0.0% |
| Dividends + buybacks / free cash flow | — | — | 23.8% | 94.7% | — | 30.5% | 68.7% | — | — | — |
| Capex / revenue | 14.9% | 9.6% | 6.9% | 5.8% | 3.6% | 7.9% | 12.3% | 15.3% | 10.1% | 10.5% |
| Capex / operating cash flow | 135.7% | 176.8% | 78.6% | 26.6% | 95.5% | 32.0% | 42.9% | 98.3% | 97.2% | 564.1% |
| Capex / depreciation | 2.88 | 2.50 | 1.34 | 0.95 | 0.42 | 0.85 | 1.46 | 2.19 | 1.81 | 2.57 |
| Stock-based compensation / revenue | 11.8% | 14.0% | 13.0% | 13.2% | 11.6% | 14.2% | 13.3% | 12.0% | 11.6% | 10.2% |
| R&D / revenue | 31.0% | 31.1% | 32.0% | 39.3% | 41.3% | 40.2% | 38.3% | 32.6% | 29.5% | 25.6% |
| SG&A / revenue | 38.7% | 39.0% | 35.4% | 30.5% | 33.9% | 37.1% | 30.7% | 27.9% | 23.2% | 20.5% |
| Efficiency | ||||||||||
| Days sales outstanding | 130.5 | 120.6 | 95.8 | 101.5 | 122.6 | 155.0 | 196.7 | 232.1 | 189.4 | 138.6 |
| Days of inventory on hand | — | — | — | 0.0 | — | — | 0.0 | — | — | 0.0 |
| Days payables outstanding | 76.3 | 36.5 | 31.6 | 45.5 | 41.1 | 59.7 | 55.0 | 21.3 | 18.2 | 14.4 |
| Cash conversion cycle (days) | 54.2 | 84.1 | 64.3 | 56.0 | 81.5 | 95.3 | 141.6 | 210.9 | 171.2 | 124.2 |
| Receivables turnover | 2.80 | 3.03 | 3.81 | 3.59 | 2.98 | 2.35 | 1.86 | 1.57 | 1.93 | 2.63 |
| Payables turnover | 4.79 | 10.01 | 11.57 | 8.02 | 8.88 | 6.11 | 6.64 | 17.16 | 20.04 | 25.41 |
| Inventory turnover | — | — | — | 47,907,000.00 | — | — | 33,474,000.00 | — | — | 88,896,000.00 |
| Asset turnover | 0.60 | 0.59 | 0.58 | 0.54 | 0.40 | 0.33 | 0.37 | 0.38 | 0.46 | 0.52 |
| Average receivables | $78.3M | $59.3M | $43.5M | $41.3M | $37.3M | $37.4M | $46.1M | $54.6M | $52.9M | $40.8M |
| Average payables | $12.7M | $5.4M | $4.5M | $6.0M | $5.0M | $6.0M | $5.0M | $2.5M | $2.4M | $1.7M |
| Average inventory | — | — | — | $1 | — | — | $1 | — | $0 | $0 |
| Intangibles / total assets | 35.2% | 8.6% | 10.6% | 11.5% | 12.9% | 14.0% | 3.6% | 3.1% | 3.6% | 2.0% |
Computed from PDFS's annual financial statements (latest annual report filed February 24, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
PDFS valuation and financial ratios
Based on the latest twelve months, the trailing P/E is 156.9 and the forward P/E is 27.6. PDF Solutions earned a return on equity of −0.2% and a return on invested capital of 1.3% in fiscal 2025. It ended the year with $76.7 million of debt and $42.2 million in cash and short-term investments, net debt of $34.4 million. It returned $0.2 million to shareholders: $0 in dividends and $0.2 million in share buybacks. The share count rose 21.2% from 32.4M to 39.3M over 9 years.
See the PDFS income statement, the PDFS chart for price history, or the PDFS stock overview for the latest quote and news.
PDFS key metrics FAQ
What is PDF Solutions's P/E ratio?
PDF Solutions's trailing P/E ratio is 156.9 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 27.6. At the end of fiscal 2025 it was —, compared with a 10-year median of 260.6.
What is PDF Solutions's EV/EBITDA?
PDF Solutions's enterprise value was 62.5 times EBITDA at the end of fiscal 2025 (enterprise value $1.2 billion, EBITDA $18.5 million); the current EV/EBITDA is 56.0.
What is PDF Solutions's return on equity?
PDF Solutions's return on equity (ROE) was −0.2% in fiscal 2025: net income of -$0.6 million on average shareholders' equity of $258.5 million.
What is PDF Solutions's ROIC?
PDF Solutions's return on invested capital was 1.3% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does PDF Solutions have?
PDF Solutions had total debt of $76.7 million at the end of fiscal 2025, a debt-to-equity ratio of 0.28 and $34.4 million of net debt (1.86 times EBITDA).
Does PDF Solutions buy back its shares?
Yes. PDF Solutions spent $0.2 million on net share repurchases in fiscal 2025 Shares outstanding changed +0.7% over the year, to 39.3M..
What is PDF Solutions's free cash flow yield?
PDF Solutions generated -$8.6 million of free cash flow in fiscal 2025, a free cash flow yield of −0.8% on its market value at year-end ($1.1 billion).
What is PDF Solutions's current ratio?
PDF Solutions's current ratio was 2.28 at the end of fiscal 2025: current assets were 2.28 times current liabilities.