Symbols / PUBM Stock $9.88 -1.79% PubMatic, Inc.

Technology • Software - Application • United States • NGM
PUBM (Stock) Chart
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Stock Fundamentals
Scroll to Statements
Index EQUITY
Sector Technology
Industry Software - Application
CEO Mr. Rajeev K. Goel
Exch · Country NGM · United States
Market Cap 458.86M
Enterprise Value 365.03M
Income -17.49M
Sales 281.67M
FCF (ttm) 52.97M
Book/sh 5.39
Cash/sh 3.12
Employees 1,030
Insider 10d —
IPO Dec 09, 2020
Div forward ($/yr)
Div TTM ($/yr)
Dividend Yield
Ex-Div Date
5Y Avg Yield
Yield vs 5Y Avg
Payout 0.00%
P/E —
Forward P/E 20.23
PEG 4.95
P/S 1.63
P/B 1.83
P/C —
EV/EBITDA -252.44
EV/Sales 1.30
Quick Ratio 1.31
Current Ratio 1.37
Debt/Eq 17.01
LT Debt/Eq —
EPS (ttm) -0.38
EPS next Y 0.49
EPS Growth —
Revenue Growth -2.00%
EPS Gr Q/Q —
Rev Gr Q/Q —
Earnings (next) 2026-05-07
Earnings (prior) 2026-05-07
ROA -1.86%
ROE -6.64%
ROIC —
Gross Margin 63.22%
Oper. Margin -24.41%
Profit Margin -6.21%
Shs Outstand 38.18M
Shs Float 34.39M
Insider Own 1.00%
Instit Own 76.25%
Short Float 5.85%
Short Ratio 3.61
Short Interest 2.20M
52W High 13.88
vs 52W High -28.82%
52W Low 6.15
vs 52W Low 60.65%
Beta 1.53
Impl. Vol. 68.16%
Rel Volume 0.82
Avg Volume 781.67K
Volume 637.18K
Target (mean) $12.89
Tgt Median $12.00
Tgt Low $8.00
Tgt High $21.00
# Analysts 9
Recom Buy
Prev Close $10.06
Price $9.88
Change -1.79%
About

PubMatic, Inc., a technology company, engages in the provision of a cloud infrastructure platform that enables real time programmatic advertising transactions for digital content creators, advertisers, agencies, agency trading desks, and demand side platforms worldwide. Its PubMatic SSP, a sell side platform for the purchase and sale of digital advertising inventory for publishers and buyers. The company also provides OpenWrap, a header bidding solution; Connect, a solution that provides additional data and insights to publishers and buyers; Activate, which allows buyers to execute direct deals on its platform across publisher inventory; Convert, a commerce media solution; and Identity Hub, an ID management tool for publishers that leverages specialized technology infrastructure to simplify alternative identifier marketplace. Its platform supports an array of ad formats and digital device types, including mobile app, mobile web, desktop, display, video, over the top video, connected television, and media. The company was incorporated in 2006 and is based in Redwood City, California.

Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$12.89
Mean price target
2. Current target
$9.88
Latest analyst target
3. DCF / Fair value
$24.97
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$9.88
Low
$8.00
High
$21.00
Mean
$12.89

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-05-08 main RBC Capital Outperform → Outperform $13
2026-04-23 main Rosenblatt Buy → Buy $21
2026-03-20 main Rosenblatt Buy → Buy $21
2026-02-27 main Rosenblatt Buy → Buy $21
2026-02-27 up B. Riley Securities Neutral → Buy $11
2025-11-11 main B. Riley Securities Neutral → Neutral $10
2025-11-11 main Evercore ISI Group Outperform → Outperform $13
2025-11-11 main Rosenblatt Buy → Buy $20
2025-09-09 main Rosenblatt Buy → Buy $17
2025-08-21 init Rosenblatt — → Buy $17
2025-08-13 main Evercore ISI Group Outperform → Outperform $12
2025-08-12 down Lake Street Buy → Hold $10
2025-08-12 main Scotiabank Sector Perform → Sector Perform $10
2025-08-12 main RBC Capital Outperform → Outperform $11
2025-08-12 main JMP Securities Market Outperform → Market Outperform $12
2025-08-12 down B. Riley Securities Buy → Neutral $9
2025-05-09 main Lake Street Buy → Buy $19
2025-05-02 main RBC Capital Outperform → Outperform $14
2025-03-10 reit Citizens Capital Markets Market Outperform → Market Outperform $18
2025-03-03 main Citizens Capital Markets Market Outperform → Market Outperform $18
Insider Transactions
Filed Date Insider Relationship Transaction Shares Price Value SEC
2026-05-18 GIMBEL LISA Officer — 2,863 $9.89 $28,319
2026-05-15 GIMBEL LISA Officer — 3,765 — —
2026-05-14 GOEL RAJEEV K. Chief Executive Officer — 44,000 — —
2026-05-14 GOEL RAJEEV K. Chief Executive Officer — 44,000 $9.55 $420,270
2026-04-27 GOEL RAJEEV K. Chief Executive Officer — 44,000 — —
2026-04-27 GOEL RAJEEV K. Chief Executive Officer — 44,000 $9.78 $430,144
2026-04-13 GOEL RAJEEV K. Chief Executive Officer — 17,466 — —
2026-04-13 GOEL RAJEEV K. Chief Executive Officer — 44,000 $8.65 $380,503
2026-04-06 KLIMENKO PAULINA Officer — 11,784 $8.44 $99,492
2026-04-06 PANTELICK STEVEN M Chief Financial Officer — 16,282 $8.44 $137,469
Financials
Statement View
Amounts in millions (2 decimals, no suffix) • EPS per share (2 decimals) • Trend = period evolution • YoY Growth = previous period %
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Revenue
282.93
-2.86%
291.26
+9.08%
267.01
+4.15%
256.38
Operating Revenue
282.93
-2.86%
291.26
+9.08%
267.01
+4.15%
256.38
Cost Of Revenue
103.08
+2.04%
101.03
+1.81%
99.23
+21.74%
81.51
Reconciled Cost Of Revenue
103.08
+2.04%
101.03
+1.81%
99.23
+21.74%
81.51
Gross Profit
179.84
-5.46%
190.23
+13.38%
167.78
-4.05%
174.87
Operating Expense
197.10
+5.80%
186.30
+12.40%
165.75
+23.37%
134.35
Research And Development
33.82
+1.67%
33.26
+24.45%
26.73
+28.21%
20.85
Selling General And Administration
163.28
+6.69%
153.04
+10.08%
139.02
+22.48%
113.50
Selling And Marketing Expense
102.94
+7.94%
95.37
+15.18%
82.80
+20.77%
68.56
General And Administrative Expense
60.34
+4.63%
57.67
+2.58%
56.22
+25.10%
44.94
Other Gand A
60.34
+4.63%
57.67
+2.58%
56.22
+25.10%
44.94
Total Expenses
300.19
+4.47%
287.33
+8.44%
264.98
+22.75%
215.86
Operating Income
-17.26
-539.50%
3.93
+92.88%
2.04
-94.98%
40.52
Total Operating Income As Reported
-17.26
-539.50%
3.93
+92.88%
2.04
-94.98%
40.52
EBITDA
26.51
-46.20%
49.28
+5.28%
46.81
-37.40%
74.77
Normalized EBITDA
26.51
-46.20%
49.28
+5.28%
46.81
-42.01%
80.72
Reconciled Depreciation
43.77
-3.49%
45.35
+1.30%
44.77
+30.72%
34.25
EBIT
-17.26
-539.50%
3.93
+92.88%
2.04
-94.98%
40.52
Total Unusual Items
—
—
—
-5.95
Total Unusual Items Excluding Goodwill
—
—
—
-5.95
Net Income
-14.46
-215.66%
12.50
+40.79%
8.88
-69.06%
28.70
Pretax Income
-15.95
-189.76%
17.77
+69.20%
10.51
-71.96%
37.47
Net Non Operating Interest Income Expense
5.46
-35.65%
8.48
-3.98%
8.83
+298.74%
2.21
Net Interest Income
5.46
-35.65%
8.48
-3.98%
8.83
+298.74%
2.21
Interest Income Non Operating
5.46
-35.65%
8.48
-3.98%
8.83
+298.74%
2.21
Interest Income
5.46
-35.65%
8.48
-3.98%
8.83
+298.74%
2.21
Other Income Expense
-4.15
-177.28%
5.37
+1595.82%
-0.36
+93.18%
-5.27
Other Non Operating Income Expenses
-4.15
-177.28%
5.37
+1595.82%
-0.36
-152.72%
0.68
Gain On Sale Of Security
—
—
—
-5.95
Tax Provision
-1.49
-128.31%
5.27
+224.51%
1.62
-81.47%
8.76
Tax Rate For Calcs
0.00
-68.29%
0.00
+91.97%
0.00
-33.98%
0.00
Tax Effect Of Unusual Items
0.00
0.00
0.00
+100.00%
-1.39
Net Income Including Noncontrolling Interests
-14.46
-215.66%
12.50
+40.79%
8.88
-69.06%
28.70
Net Income From Continuing Operation Net Minority Interest
-14.46
-215.66%
12.50
+40.79%
8.88
-69.06%
28.70
Net Income From Continuing And Discontinued Operation
-14.46
-215.66%
12.50
+40.79%
8.88
-69.06%
28.70
Net Income Continuous Operations
-14.46
-215.66%
12.50
+40.79%
8.88
-69.06%
28.70
Normalized Income
-14.46
-215.66%
12.50
+40.79%
8.88
-73.30%
33.26
Net Income Common Stockholders
-14.46
-215.66%
12.50
+40.79%
8.88
-69.06%
28.70
Diluted EPS
-0.31
-234.78%
0.23
+43.75%
0.16
-68.00%
0.50
Basic EPS
-0.31
-224.00%
0.25
+47.06%
0.17
-69.09%
0.55
Basic Average Shares
47.01
-4.48%
49.21
-4.92%
51.76
-0.99%
52.28
Diluted Average Shares
47.01
-13.42%
54.29
-3.09%
56.03
-1.55%
56.91
Diluted NI Availto Com Stockholders
-14.46
-215.66%
12.50
+40.79%
8.88
-69.06%
28.70
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Assets
680.20
-8.02%
739.52
+6.37%
695.24
+8.26%
642.17
Current Assets
522.65
-9.19%
575.55
+2.42%
561.96
+11.61%
503.48
Cash Cash Equivalents And Short Term Investments
145.52
+3.51%
140.59
-19.82%
175.34
+0.54%
174.40
Cash And Cash Equivalents
145.52
+44.86%
100.45
+27.95%
78.51
-15.02%
92.38
Other Short Term Investments
0.00
-100.00%
40.13
-58.55%
96.83
+18.07%
82.01
Receivables
358.24
-15.67%
424.81
+13.14%
375.47
+19.46%
314.30
Accounts Receivable
358.24
-15.67%
424.81
+13.14%
375.47
+19.46%
314.30
Gross Accounts Receivable
359.26
-15.63%
425.83
+13.18%
376.24
+19.04%
316.06
Allowance For Doubtful Accounts Receivable
-1.02
+0.00%
-1.02
-32.21%
-0.77
+56.37%
-1.76
Prepaid Assets
—
—
—
—
Other Current Assets
18.89
+86.19%
10.14
-8.96%
11.14
-24.63%
14.78
Total Non Current Assets
157.55
-3.92%
163.97
+23.02%
133.29
-3.90%
138.70
Net PPE
90.81
-11.77%
102.92
+25.78%
81.83
-15.95%
97.36
Gross PPE
288.67
+3.67%
278.47
+25.13%
222.54
+9.99%
202.32
Accumulated Depreciation
-197.87
-12.72%
-175.54
-24.75%
-140.71
-34.06%
-104.96
Properties
0.00
0.00
0.00
0.00
Machinery Furniture Equipment
242.97
+6.31%
228.54
+16.44%
196.27
+14.05%
172.09
Other Properties
38.15
-14.08%
44.40
+110.42%
21.10
-19.48%
26.21
Leases
7.55
+36.68%
5.53
+6.82%
5.17
+28.49%
4.03
Goodwill And Other Intangible Assets
32.28
-4.67%
33.86
-4.46%
35.44
-6.43%
37.88
Goodwill
29.58
+0.00%
29.58
+0.00%
29.58
+0.00%
29.58
Other Intangible Assets
2.70
-36.88%
4.28
-26.94%
5.86
-29.34%
8.30
Non Current Deferred Assets
30.99
+24.62%
24.86
+79.14%
13.88
+1225.69%
1.05
Non Current Deferred Taxes Assets
30.99
+24.62%
24.86
+79.14%
13.88
+1225.69%
1.05
Other Non Current Assets
3.48
+49.53%
2.32
+8.80%
2.14
-11.44%
2.41
Total Liabilities Net Minority Interest
417.61
-9.66%
462.26
+15.84%
399.04
+20.93%
329.99
Current Liabilities
375.85
-10.26%
418.81
+10.33%
379.59
+25.68%
302.03
Payables And Accrued Expenses
349.31
-11.11%
392.99
+10.83%
354.57
+25.84%
281.76
Payables
343.62
-11.12%
386.60
+11.20%
347.67
+25.33%
277.41
Accounts Payable
343.62
-11.12%
386.60
+11.20%
347.67
+25.33%
277.41
Current Accrued Expenses
5.70
-10.85%
6.39
-7.42%
6.90
+58.66%
4.35
Pensionand Other Post Retirement Benefit Plans Current
19.58
-1.97%
19.98
+6.35%
18.78
+28.77%
14.59
Current Debt And Capital Lease Obligation
6.95
+19.00%
5.84
-6.30%
6.24
+9.87%
5.68
Current Capital Lease Obligation
6.95
+19.00%
5.84
-6.30%
6.24
+9.87%
5.68
Total Non Current Liabilities Net Minority Interest
41.76
-3.89%
43.45
+123.36%
19.45
-30.44%
27.96
Long Term Debt And Capital Lease Obligation
36.91
-6.65%
39.54
+153.34%
15.61
-25.38%
20.91
Long Term Capital Lease Obligation
36.91
-6.65%
39.54
+153.34%
15.61
-25.38%
20.91
Non Current Deferred Liabilities
—
—
0.00
-100.00%
0.57
Non Current Deferred Taxes Liabilities
—
—
0.00
-100.00%
0.57
Other Non Current Liabilities
4.85
+24.00%
3.91
+1.66%
3.84
-40.61%
6.47
Stockholders Equity
262.59
-5.29%
277.26
-6.39%
296.20
-5.12%
312.19
Common Stock Equity
262.59
-5.29%
277.26
-6.39%
296.20
-5.12%
312.19
Capital Stock
0.01
+16.67%
0.01
+0.00%
0.01
+0.00%
0.01
Common Stock
0.01
+16.67%
0.01
+0.00%
0.01
+0.00%
0.01
Preferred Stock
0.00
0.00
0.00
0.00
Share Issued
59.29
+5.09%
56.42
+3.93%
54.29
-2.79%
55.85
Ordinary Shares Number
46.89
-2.52%
48.10
-4.27%
50.25
-4.67%
52.71
Treasury Shares Number
15.55
+35.68%
11.46
+59.58%
7.18
+128.63%
3.14
Additional Paid In Capital
321.06
+16.62%
275.30
+19.48%
230.42
+17.75%
195.68
Retained Earnings
134.92
-9.68%
149.38
+9.13%
136.88
+6.94%
128.00
Gains Losses Not Affecting Retained Earnings
0.07
+110.69%
-0.64
-15800.00%
-0.00
+55.56%
-0.01
Treasury Stock
193.47
+31.80%
146.80
+106.46%
71.10
+519.04%
11.49
Other Equity Adjustments
0.07
+110.69%
-0.64
-15800.00%
-0.00
+55.56%
-0.01
Total Equity Gross Minority Interest
262.59
-5.29%
277.26
-6.39%
296.20
-5.12%
312.19
Total Capitalization
262.59
-5.29%
277.26
-6.39%
296.20
-5.12%
312.19
Working Capital
146.80
-6.34%
156.74
-14.05%
182.36
-9.48%
201.45
Invested Capital
262.59
-5.29%
277.26
-6.39%
296.20
-5.12%
312.19
Total Debt
43.86
-3.35%
45.38
+107.76%
21.84
-17.86%
26.59
Capital Lease Obligations
43.86
-3.35%
45.38
+107.76%
21.84
-17.86%
26.59
Net Tangible Assets
230.31
-5.38%
243.40
-6.66%
260.76
-4.94%
274.31
Tangible Book Value
230.31
-5.38%
243.40
-6.66%
260.76
-4.94%
274.31
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Operating Cash Flow
81.06
+10.40%
73.42
-9.49%
81.12
-6.98%
87.21
Cash Flow From Continuing Operating Activities
81.06
+10.40%
73.42
-9.49%
81.12
-6.98%
87.21
Net Income From Continuing Operations
-14.46
-215.66%
12.50
+40.79%
8.88
-69.06%
28.70
Depreciation Amortization Depletion
43.77
-3.49%
45.35
+1.30%
44.77
+30.72%
34.25
Depreciation And Amortization
43.77
-3.49%
45.35
+1.30%
44.77
+30.72%
34.25
Other Non Cash Items
6.30
-6.97%
6.78
+9.47%
6.19
+4.54%
5.92
Stock Based Compensation
38.38
+1.86%
37.68
+30.54%
28.86
+39.79%
20.65
Provisionand Write Offof Assets
0.00
0.00
-100.00%
5.67
0.00
Asset Impairment Charge
—
—
—
—
Deferred Tax
-14.49
-31.91%
-10.98
+18.07%
-13.41
-87.08%
-7.17
Deferred Income Tax
-14.49
-31.91%
-10.98
+18.07%
-13.41
-87.08%
-7.17
Operating Gains Losses
—
—
—
5.95
Unrealized Gain Loss On Investment Securities
—
—
—
5.95
Change In Working Capital
22.38
+262.39%
-13.78
-424.89%
4.24
+925.29%
-0.51
Change In Receivables
66.57
+234.92%
-49.34
+34.83%
-75.72
-210.21%
-24.41
Changes In Account Receivables
66.57
+234.92%
-49.34
+34.83%
-75.72
-210.21%
-24.41
Change In Prepaid Assets
-16.22
-178.41%
-5.83
-248.70%
3.92
+345.64%
-1.59
Change In Payables And Accrued Expense
-26.22
-154.94%
47.72
-42.31%
82.72
+187.84%
28.74
Change In Accrued Expense
16.18
+68.06%
9.63
+217.20%
3.04
+396.39%
-1.02
Change In Payable
-42.40
-211.29%
38.10
-52.19%
79.69
+167.74%
29.76
Change In Account Payable
-42.40
-211.29%
38.10
-52.19%
79.69
+167.74%
29.76
Change In Other Current Liabilities
-1.75
+72.29%
-6.33
+5.21%
-6.68
-105.60%
-3.25
Investing Cash Flow
6.07
-72.79%
22.31
+157.19%
-39.02
+52.05%
-81.37
Cash Flow From Continuing Investing Activities
6.07
-72.79%
22.31
+157.19%
-39.02
+52.05%
-81.37
Net PPE Purchase And Sale
-14.35
+18.46%
-17.59
-65.95%
-10.60
+70.45%
-35.87
Purchase Of PPE
-14.35
+18.46%
-17.59
-65.95%
-10.60
+70.45%
-35.87
Capital Expenditure
-34.86
+9.53%
-38.53
-36.20%
-28.29
+42.14%
-48.89
Capital Expenditure Reported
-20.51
+2.03%
-20.94
-18.37%
-17.69
-35.80%
-13.02
Net Investment Purchase And Sale
40.93
-32.73%
60.84
+667.03%
-10.73
-144.25%
-4.39
Purchase Of Investment
-26.03
+81.67%
-142.02
-1.00%
-140.60
-2.04%
-137.79
Sale Of Investment
66.95
-66.99%
202.86
+56.20%
129.87
-2.64%
133.40
Net Business Purchase And Sale
—
0.00
0.00
+100.00%
-28.09
Purchase Of Business
—
0.00
0.00
+100.00%
-28.09
Financing Cash Flow
-42.73
+41.85%
-73.48
-31.27%
-55.98
-1486.92%
4.04
Cash Flow From Continuing Financing Activities
-42.73
+41.85%
-73.48
-31.27%
-55.98
-1486.92%
4.04
Net Issuance Payments Of Debt
-0.14
-6.87%
-0.13
-3.97%
-0.13
-5.88%
-0.12
Repayment Of Debt
-0.14
-6.87%
-0.13
-3.97%
-0.13
-5.88%
-0.12
Long Term Debt Payments
-0.14
-6.87%
-0.13
-3.97%
-0.13
-5.88%
-0.12
Net Long Term Debt Issuance
-0.14
-6.87%
-0.13
-3.97%
-0.13
-5.88%
-0.12
Net Common Stock Issuance
-46.50
+38.28%
-75.33
-27.10%
-59.27
0.00
Common Stock Payments
-46.50
+38.28%
-75.33
-27.10%
-59.27
0.00
Repurchase Of Capital Stock
-46.50
+38.28%
-75.33
-27.10%
-59.27
0.00
Proceeds From Stock Option Exercised
3.91
-5.47%
4.13
+20.92%
3.42
-17.74%
4.16
Net Other Financing Charges
—
-2.15
—
—
Changes In Cash
44.40
+99.45%
22.26
+260.46%
-13.87
-240.46%
9.88
Effect Of Exchange Rate Changes
0.67
+309.43%
-0.32
0.00
0.00
Beginning Cash Position
100.45
+27.95%
78.51
-15.02%
92.38
+11.97%
82.50
End Cash Position
145.52
+44.86%
100.45
+27.95%
78.51
-15.02%
92.38
Free Cash Flow
46.20
+32.40%
34.90
-33.95%
52.83
+37.88%
38.32
Income Tax Paid Supplemental Data
—
14.18
-9.31%
15.63
+70.09%
9.19
Amortization Of Securities
-0.82
+80.03%
-4.12
-0.59%
-4.09
-609.36%
-0.58
Common Stock Issuance
—
—
—
0.00
Earnings Losses From Equity Investments
—
0.00
0.00
-100.00%
5.95
Issuance Of Capital Stock
—
—
—
0.00
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

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