Perfect Past Earnings Performance
Past criteria checks 1/6
Perfect has been growing earnings at an average annual rate of 37.9%, while the Software industry saw earnings growing at 21.7% annually. Revenues have been growing at an average rate of 13.9% per year. Perfect's return on equity is 3%, and it has net margins of 6.6%.
Key information
37.91%
Earnings growth rate
50.47%
EPS growth rate
| Software Industry Growth | 17.33% |
| Revenue growth rate | 13.94% |
| Return on equity | 3.02% |
| Net Margin | 6.62% |
| Last Earnings Update | 31 Mar 2026 |
Recent past performance updates
Recent updates
Narrative Update • Apr 28
PERF: Take Private Bid Debate Will Spotlight Long Term Upside Optionality
Analysts have trimmed Perfect's implied fair value by about $0.50 per share. The updated view reflects slightly adjusted assumptions on discount rate, revenue growth, profit margin and a lower future P/E, following recent research that includes a downgrade and debate around whether a potential take private bid fully reflects long term prospects.
Narrative Update • Apr 14
PERF: AI Beauty Personalization And Take Private Bid Will Support Future Earnings
Analysts have reduced their price target for Perfect to $1.95 from $3.60, citing research that points to more moderate revenue growth and profit margin expectations, along with a higher assumed future P/E multiple and a slightly higher discount rate. Analyst Commentary Recent Street research around Perfect points to a more cautious tone, with attention on both execution risks and how the current share price lines up with revised expectations on growth and profitability.Narrative Update • Mar 31
PERF: Take Private Bid Debate Will Highlight Potential Upside In Richer Future P/E
Analysts have reset their price target on Perfect to $3.51 from $4.04, citing updates in their models related to growth, margins, and a higher assumed future P/E following recent research that includes a downgrade and debate over the value of a potential take-private bid. Analyst Commentary Bullish Takeaways Bullish analysts point to the higher assumed future P/E as a sign that some in the market are still willing to assign a richer multiple to Perfect, even after the recent downgrade.Narrative Update • Feb 20
PERF: AI Beauty Personalization And Fashion APIs Will Support Future Earnings
Analysts have lifted their price target on Perfect by $2.37, citing slightly higher assumed revenue growth, modestly improved profit margins, a small adjustment to the discount rate, and a higher future P/E multiple in their refreshed model. What's in the News Perfect Corp.Seeking Alpha • Feb 08
Perfect Corp: The Pendulum Swings
Summary Perfect Corp went public via a SPAC merger in October of 2022. The market has a pessimistic view of SPACs after the SPAC boom and bust during the COVID-19 years. This market pessimism has driven PERF's valuation down to less than the value of its net cash on hand. As such, the market is assigning a negative valuation to PERF's potentially considerable intangible assets. Read the full article on Seeking AlphaNarrative Update • Feb 05
PERF: AI Beauty Partnerships And Fashion APIs Will Support Long Term Earnings
Analysts have lifted their price target on Perfect by US$0.00, reflecting updated views on slightly higher long term revenue growth and profit margins, alongside a modestly lower future P/E assumption. What's in the News Perfect Corp.Narrative Update • Jan 22
PERF: New Fashion APIs And Luxury Collaborations Will Support Long Term Earnings
Analysts have slightly reduced their price target on Perfect, citing updated assumptions for the discount rate, revenue growth, profit margin, and future P/E, which together indicate a modestly lower fair value estimate in dollar terms. What's in the News Perfect Corp.Narrative Update • Jan 07
PERF: AI Partnerships With Luxury Brands Will Support Stronger Long Term Earnings
Analysts have nudged their price target on Perfect higher to reflect slightly stronger assumptions for revenue growth, profit margins, and a modestly lower future P/E multiple, indicating a more supportive long-term earnings profile than in their prior view. What's in the News Perfect Corp.Narrative Update • Dec 14
PERF: Rising Profit Margins And Luxury Partnerships Will Drive Further Upside
Analysts have raised their price target on Perfect, increasing their fair value estimate from approximately 3.17 dollars to 3.60 dollars. They now expect stronger profit margins and are willing to assign a higher future earnings multiple, despite slightly moderating revenue growth assumptions and a marginally higher discount rate.Analysis Article • Jul 15
Earnings Tell The Story For Perfect Corp. (NYSE:PERF) As Its Stock Soars 25%
Despite an already strong run, Perfect Corp. ( NYSE:PERF ) shares have been powering on, with a gain of 25% in the last...
New Narrative • May 26
Digital Transformation And AR/VR Will Spark Immersive Engagement
Rapid adoption of AI-driven products and strategic acquisitions give Perfect a strong advantage in capturing global digital engagement and expanding into new markets.Analysis Article • Mar 16
Perfect Corp.'s (NYSE:PERF) Stock Retreats 27% But Earnings Haven't Escaped The Attention Of Investors
Perfect Corp. ( NYSE:PERF ) shareholders won't be pleased to see that the share price has had a very rough month...Seeking Alpha • Mar 10
Perfect Corp.: Solid Execution Amid Industry Headwinds
Summary Perfect Corp.'s Q4 and FY 2024 results were solid, aligning with guidance despite a negative market reaction and ongoing B2B challenges. The acquisition of Wannaby enhances Perfect Corp.'s AI capabilities and market reach, positioning it as a leader in Beauty and Fashion AI. Strong B2C performance, with 1 million paid subscribers and growing engagement, provides resilience against B2B spending softness and supports long-term growth. With $165.9 million in cash, no debt, and disciplined cost management, Perfect Corp. is financially stable and well-positioned for future opportunities. Read the full article on Seeking AlphaAnalysis Article • Jan 22
Perfect Corp.'s (NYSE:PERF) 27% Share Price Surge Not Quite Adding Up
Perfect Corp. ( NYSE:PERF ) shares have continued their recent momentum with a 27% gain in the last month alone...Analysis Article • Dec 06
Perfect Corp. (NYSE:PERF) Stock Catapults 36% Though Its Price And Business Still Lag The Industry
Perfect Corp. ( NYSE:PERF ) shareholders have had their patience rewarded with a 36% share price jump in the last...Seeking Alpha • Nov 27
Perfect Corp.: The Quiet AI Leader Ready For The Spotlight
Summary Perfect Corp. is a leader in AI/AR beauty tech, serving 90% of top beauty brands globally and boasting high gross margins and strategic partnerships. The company has a strong B2B and B2C presence, with significant growth potential in both segments, driven by expanding SKUs and new verticals. Despite its stock being undervalued, PERF is financially robust with no debt, positive cash flow, and a high cash reserve ($1.60/share). The market undervalues the company's resilience and growth potential, making it a compelling investment opportunity with significant upside. Read the full article on Seeking Alpha
New Narrative • Nov 03
AI Innovations And Market Expansion Brighten The Future Of Beauty Tech
Expanding B2C web services and AI beauty solutions boosts revenue by capturing higher margins and increasing consumer engagement.Analysis Article • Jun 04
Are Investors Undervaluing Perfect Corp. (NYSE:PERF) By 38%?
Key Insights The projected fair value for Perfect is US$3.03 based on 2 Stage Free Cash Flow to Equity Perfect is...Analysis Article • Apr 04
Perfect Corp.'s (NYSE:PERF) Stock Retreats 26% But Revenues Haven't Escaped The Attention Of Investors
Perfect Corp. ( NYSE:PERF ) shares have had a horrible month, losing 26% after a relatively good period beforehand. For...Revenue & Expenses Breakdown
Revenue & Expenses Breakdown
How Perfect makes and spends money. Based on latest reported earnings, on an LTM basis.
Earnings and Revenue History
| Date | Revenue | Earnings | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 31 Mar 26 | 71 | 5 | 39 | 15 |
| 31 Dec 25 | 69 | 5 | 38 | 15 |
| 30 Sep 25 | 67 | 6 | 38 | 14 |
| 30 Jun 25 | 64 | 6 | 38 | 14 |
| 31 Mar 25 | 62 | 7 | 38 | 13 |
| 31 Dec 24 | 60 | 5 | 38 | 12 |
| 30 Sep 24 | 58 | 5 | 38 | 12 |
| 30 Jun 24 | 57 | 6 | 38 | 12 |
| 31 Mar 24 | 56 | 5 | 38 | 12 |
| 31 Dec 23 | 54 | 5 | 37 | 11 |
| 30 Sep 23 | 50 | -186 | 32 | 11 |
| 30 Jun 23 | 49 | -188 | 102 | 11 |
| 31 Mar 23 | 47 | -161 | 30 | 10 |
| 31 Dec 22 | 47 | -162 | 101 | 10 |
| 30 Sep 22 | 47 | -125 | 35 | 11 |
| 30 Jun 22 | 47 | -127 | 35 | 11 |
| 31 Mar 22 | 44 | -156 | 33 | 10 |
| 31 Dec 21 | 41 | -157 | 30 | 10 |
| 30 Sep 21 | 37 | -5 | 26 | 8 |
| 30 Jun 21 | 33 | -8 | 24 | 8 |
| 31 Mar 21 | 31 | -7 | 23 | 8 |
| 31 Dec 20 | 30 | -6 | 21 | 8 |
| 31 Dec 19 | 23 | -2 | 17 | 6 |
| 31 Dec 18 | 12 | -9 | 14 | 6 |
Quality Earnings: PERF has a large one-off loss of $1.9M impacting its last 12 months of financial results to 31st March, 2026.
Growing Profit Margin: PERF's current net profit margins (6.6%) are lower than last year (10.8%).
Free Cash Flow vs Earnings Analysis
Past Earnings Growth Analysis
Earnings Trend: PERF has become profitable over the past 5 years, growing earnings by 37.9% per year.
Accelerating Growth: PERF's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: PERF had negative earnings growth (-29.6%) over the past year, making it difficult to compare to the Software industry average (14.3%).
Return on Equity
High ROE: PERF's Return on Equity (3%) is considered low.
Return on Assets
Return on Capital Employed
Discover strong past performing companies
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/05/07 09:26 |
| End of Day Share Price | 2026/05/07 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
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Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Perfect Corp. is covered by 11 analysts. 5 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Vadim Merkulov | Freedom Broker |
| Egor Tolmachev | Freedom Broker |
| Almas Almaganbetov | Freedom Broker |