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PubMatic, Inc.
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NASDAQ: PUBM Technology IT 🔎 Screen
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$799M
Market Cap
—
P/E
8.50
PEG
-9.5%
ROCE
-5.6%
ROE
0.17
D/E
-4.7%
OPM
-9.0%
% from 52W High
95
α RS
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🌏 Global Investor Returns
Currency-adjusted total returns for PUBM including FX impact
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📈 Price History
Ratio Health
— Excellent
— Good
— Average
— Poor
By Category
📊 Peer Medians
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.

Key Ratios Snapshot
📈 Growth Pattern
📊 Quick Scorecard
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⭐ Superinvestors Holding PUBM
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Manager Shares Value % of Fund Period
Jim Simons Renaissance Technologies LLC 1.54M $12.6M 0.02% Mar 2026
Steve Cohen Point72 Asset Management 22.3K $182K 0.00% Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

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✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter
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📞 Earnings Call Transcripts (5)
Q2 2026 Q2 2026 2026-08-06
Q2 2026 saw 11% revenue growth, 38% higher adjusted EBITDA, and strong free cash flow, driven by AI-powered innovation and diversification into CTV, mobile app, and emerging channels. Guidance calls for continued double-digit growth, margin expansion, and increased AI investment.
Q1 2026 Q1 2026 2026-05-07
Q1 2026 saw revenue and adjusted EBITDA exceed guidance, with 13% underlying growth and over 80% growth in emerging revenues. AI-driven products and new partnerships fueled expansion, while margin and revenue growth are expected to accelerate in the second half as DSP headwinds subside.
Q4 2025 Q4 2025 2026-02-26
Q4 and full-year 2025 results exceeded expectations, driven by strong growth in CTV, mobile, and emerging AI-powered revenues. Rapid adoption of agentic AI solutions and DSP diversification position the company for double-digit revenue growth and margin expansion in H2 2026.
Q3 2025 Q3 2025 2025-11-10
Revenue and adjusted EBITDA exceeded guidance, led by 50%+ CTV growth and 80%+ emerging revenue gains. AI innovation drove operational efficiency, new revenue streams, and margin improvement, while diversification and strategic partnerships expanded the business.
Q2 2025 Q2 2025 2025-08-11
Q2 2025 saw revenue and adjusted EBITDA exceed expectations, driven by strong CTV and emerging revenue streams, despite a DSP-related headwind in July. The company remains focused on diversifying DSP mix, expanding CTV, and integrating AI, with a robust balance sheet and positive cash flow.
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📊 Analysis Methodology

This comprehensive investment analysis was conducted using The Finmagine™ Stock Analysis & Ranking Methodology, a proprietary framework that systematically evaluates stocks across five critical dimensions: Financial Health, Growth Prospects, Competitive Positioning, Management Quality, and Valuation.

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Financial Model
Projections are built from each company's audited annual financials (Income Statement, Balance Sheet, Cash Flow) over the last 5 fiscal years. Forward assumptions — revenue growth %, EBITDA margin, D&A (USD millions), interest expense, tax rate, and capex — are AI-generated using historical context and refreshed twice a year: after the December results season and after the September/Q4 results season.

DCF Valuation
Fair Value = Σ(FCFt / (1+WACC)t) + Terminal Value. Terminal Value uses the Gordon Growth Model: FCF5 × (1+g) / (WACC−g). Default WACC: 10% (US risk-free ~4.5%, equity risk premium ~5.5%). Default terminal growth: 3% (long-run US nominal GDP proxy).

CAGR Tracker
Expected 5-year CAGR = (DCF Fair Value / Current Price)1/5 − 1. Assumes fair value is reached in exactly 5 years — a mechanical estimate only.

Data Sources & Limitations
Financial statements sourced from public filings. Prices updated daily. Forward assumptions are AI-generated. All monetary values in USD millions. Non-US ADR companies may have currency conversion inaccuracies. Models are point-in-time and do not update intra-quarter or account for M&A, macro shocks, or extraordinary items.

⚠️ Important Disclaimers — Please read without fail.

Investment Risk:
Investing in securities, including US equities and ETFs, involves inherent risks including the potential loss of principal. All investments are subject to market fluctuations, economic conditions, regulatory changes, and other factors that may affect their value. Past performance is not indicative of future results. This analysis is provided for informational and educational purposes only and should not be construed as investment advice under any circumstances.

No Investment Recommendation:
This analysis does not constitute, nor should it be interpreted as, an offer, solicitation, or recommendation to buy, sell, or hold any securities or financial products. Investors are strongly advised to conduct their own independent research and due diligence and to consult with a licensed financial advisor or an SEC-registered investment adviser before making any investment decisions, taking into account their individual financial situation, risk tolerance, and investment objectives.

Not SEC-Registered:
Finmagine is not registered as an investment adviser with the U.S. Securities and Exchange Commission (SEC) or any state securities authority. Nothing on this platform constitutes investment advice as defined under the Investment Advisers Act of 1940.

Conflict of Interest Disclosure:
The author and/or analyst may currently hold or have previously held positions in the securities discussed. Any such positions are not intended to influence the objectivity or independence of the analysis. This research is produced independently and is not sponsored, endorsed, or commissioned by any company or institution.

Information Sources:
The analysis is based on publicly available information including SEC filings (10-K, 10-Q), annual reports, management commentary, and publicly available financial data. Information is believed to be accurate as of the date of publication but may be subject to change without notice. Readers are encouraged to independently verify all information before acting upon it.

Forward-Looking Statements:
This analysis may contain forward-looking statements, forecasts, or projections that are inherently subject to risks, uncertainties, and assumptions. Actual results may differ materially from those expressed or implied. Finmagine does not undertake any obligation to update such statements in the future.

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