PTC Inc.

DB:PMTA Stock Report

Market Cap: €22.1b

PTC Valuation

Is PMTA undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of PMTA when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: PMTA (€184.8) is trading below our estimate of fair value (€487.74)

Significantly Below Fair Value: PMTA is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for PMTA?

Key metric: As PMTA is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for PMTA. This is calculated by dividing PMTA's market cap by their current earnings.
What is PMTA's PE Ratio?
PE Ratio61x
EarningsUS$376.33m
Market CapUS$23.24b

Price to Earnings Ratio vs Peers

How does PMTA's PE Ratio compare to its peers?

The above table shows the PE ratio for PMTA vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average55.2x
NEM Nemetschek
68.5x18.6%€11.7b
TMV TeamViewer
15.3x11.0%€1.8b
SAP SAP
93.7x40.8%€257.2b
AOF ATOSS Software
43.5x7.8%€1.9b
PMTA PTC
61x14.7%€23.2b

Price-To-Earnings vs Peers: PMTA is expensive based on its Price-To-Earnings Ratio (61x) compared to the peer average (55.2x).

Price to Earnings Ratio vs Industry

How does PMTA's PE Ratio compare vs other companies in the European Software Industry?

5 CompaniesPrice / EarningsEstimated GrowthMarket Cap
PMTA 61.0xIndustry Avg. 27.6xNo. of Companies17PE020406080100+
5 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: PMTA is expensive based on its Price-To-Earnings Ratio (61x) compared to the European Software industry average (27.9x).

Price to Earnings Ratio vs Fair Ratio

What is PMTA's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

PMTA PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio61x
Fair PE Ratio34.4x

Price-To-Earnings vs Fair Ratio: PMTA is expensive based on its Price-To-Earnings Ratio (61x) compared to the estimated Fair Price-To-Earnings Ratio (34.4x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst PMTA forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€184.80
€194.33
+5.2%
9.9%€227.28€147.73n/a20
Nov ’25€170.45
€183.28
+7.5%
8.4%€203.02€143.96n/a20
Oct ’25€161.35
€180.22
+11.7%
8.5%€199.58€141.52n/a20
Sep ’25€159.25
€180.22
+13.2%
8.5%€199.58€141.52n/a20
Aug ’25€163.65
€186.49
+14.0%
7.0%€203.87€144.57n/a20
Jul ’25€168.30
€183.59
+9.1%
8.9%€202.16€126.81n/a20
Jun ’25€159.85
€184.21
+15.2%
8.8%€202.33€126.92n/a20
May ’25€167.75
€187.62
+11.8%
8.8%€205.77€129.07n/a20
Apr ’25€174.40
€183.94
+5.5%
8.3%€203.96€127.94n/a20
Mar ’25€172.20
€183.94
+6.8%
8.3%€203.96€127.94n/a20
Feb ’25€162.50
€181.15
+11.5%
9.1%€202.40€126.96n/a20
Jan ’25€158.20
€156.73
-0.9%
11.2%€192.36€119.08n/a20
Dec ’24€143.40
€150.37
+4.9%
7.3%€166.88€119.20n/a20
Nov ’24€131.80
€152.70
+15.9%
8.5%€170.08€118.11€170.4520
Oct ’24€132.70
€148.02
+11.5%
8.6%€164.52€114.25€161.3519
Sep ’24€135.10
€148.02
+9.6%
8.6%€164.52€114.25€159.2519
Aug ’24€131.70
€146.34
+11.1%
8.7%€163.28€113.39€163.6519
Jul ’24€130.50
€141.80
+8.7%
8.1%€157.01€115.45€168.3019
Jun ’24€125.10
€142.96
+14.3%
8.3%€158.10€116.25€159.8518
May ’24€111.10
€138.53
+24.7%
8.1%€154.22€113.40€167.7517
Apr ’24€114.58
€143.21
+25.0%
9.4%€161.11€105.19€174.4017
Mar ’24€117.44
€141.96
+20.9%
9.8%€160.26€104.64€172.2017
Feb ’24€122.90
€134.91
+9.8%
9.9%€151.85€97.55€162.5017
Jan ’24€112.54
€133.54
+18.7%
10.0%€149.76€99.22€158.2015
Dec ’23€120.90
€137.88
+14.0%
10.0%€154.99€102.68€143.4015
Nov ’23€118.70
€137.61
+15.9%
11.2%€158.70€104.15€131.8015

Analyst Forecast: Target price is less than 20% higher than the current share price.

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