Overview Dividends

(PUBM) Pubmatic - Ratings and Ratios

Exchange: NASDAQ • Country: United States • Currency: USD • Type: Common Stock • ISIN: US74467Q1031

Ssp, Header Bidding, Identity Hub, Activate, Convert

PUBM EPS (Earnings per Share)

EPS Growth (3Y CAGR): -31.80%
EPS Trend (3Y Correlation): 6.2%

PUBM Revenue

Revenue Growth (3Y CAGR): 3.60%
Revenue Trend (3Y Correlation): 33.4%

Risk via 10d forecast
Volatility	61.3%
Value at Risk 5%th	79.3%

Reward
Sharpe Ratio	-0.98
Alpha	-74.59

Character
Hurst Exponent	0.491
Beta	1.495

Drawdowns 3y
Max DD	69.28%
Mean DD	29.71%

Description: PUBM Pubmatic October 23, 2025

PubMatic, Inc. (NASDAQ: PUBM) operates a cloud-based infrastructure that powers real-time programmatic advertising for publishers and buyers worldwide. Its flagship Sell-Side Platform (SSP) enables the automated sale of digital inventory, while complementary solutions such as OpenWrap (header bidding), Connect (data insights), Activate (direct-deal execution), Convert (commerce-media), and Identity Hub (alternative ID management) expand the ecosystem across formats-including mobile, desktop, video, OTT, and CTV.

In FY 2023 the company generated roughly $400 million in revenue, up about 10 % year-over-year, driven by strong growth in CTV and video inventory that now represents ~30 % of total spend. Gross margins hovered near 55 %, and the balance sheet held >$300 million in cash and marketable securities, providing runway for continued product investment. The broader programmatic advertising market is expanding at a 12-15 % CAGR, propelled by advertiser demand for data-rich, automated buying and by privacy-driven shifts toward first-party data solutions-both of which align with PubMatic’s technology stack.

If you’re looking to dig deeper into PubMatic’s valuation metrics and scenario analysis, the ValueRay platform offers a transparent, data-first toolkit that can help you model upside and downside cases.

PUBM Stock Overview

Market Cap in USD	338m
Sub-Industry	Advertising
IPO / Inception	2020-12-09
Return 12m vs S&P 500	-59.4%
Analyst Rating	3.91 of 5

PUBM Dividends

Currently no dividends paid

PUBM Growth Ratios

CAGR	-21.95%
CAGR/Max DD Calmar Ratio	-0.32
CAGR/Mean DD Pain Ratio	-0.74
Current Volume	1042.5k
Average Volume	559.6k

Piotroski VR‑10 (Strict, 0-10) 5.0

Net Income (-1.71m TTM) > 0 and > 6% of Revenue (6% = 17.5m TTM)

FCFTA 0.04 (>2.0%) and ΔFCFTA -4.71pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)

NWC/Revenue 42.51% (prev 57.34%; Δ -14.83pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)

CFO/TA 0.10 (>3.0%) and CFO 67.7m > Net Income -1.71m (YES >=105%, WARN >=100%)

Net Debt (-44.8m) to EBITDA (42.4m) ratio: -1.06 <= 3.0 (WARN <= 3.5)

Current Ratio 1.32 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)

Outstanding Shares last Quarter (47.2m) change vs 12m ago -15.10% (target <= -2.0% for YES)

Gross Margin 64.87% (prev 64.26%; Δ 0.62pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)

Asset Turnover 43.34% (prev 41.93%; Δ 1.41pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)

Interest Coverage Ratio -0.85 (EBITDA TTM 42.4m / Interest Expense TTM -4.63m) >= 6 (WARN >= 3)

Altman Z'' 2.15

(A) 0.18 = (Total Current Assets 513.0m - Total Current Liabilities 388.7m) / Total Assets 675.2m

(B) 0.20 = Retained Earnings (Balance) 134.7m / Total Assets 675.2m

(D) 0.31 = Book Value of Equity 134.9m / Total Liabilities 431.9m

Total Rating: 2.15 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 52.61

1. Piotroski 5.0pt = 0.0

2. FCF Yield 10.62% = 5.0

3. FCF Margin 9.68% = 2.42

4. Debt/Equity 0.19 = 2.48

5. Debt/Ebitda -1.06 = 2.50

6. ROIC - WACC (= -11.74)% = -12.50

7. RoE -0.64% = -0.11

8. Rev. Trend 33.43% = 2.51

9. EPS Trend 6.25% = 0.31

What is the price of PUBM shares?

As of November 11, 2025, the stock is trading at USD 7.65 with a total of 1,042,457 shares traded.
Over the past week, the price has changed by -7.89%, over one month by -4.26%, over three months by -27.63% and over the past year by -53.27%.

Is Pubmatic a good stock to buy?

Neither. Based on ValueRay´s Fundamental Analyses, Pubmatic is currently (November 2025) neither a good nor a bad stock to buy. It has a ValueRay Fundamental Rating of 52.61 and therefor a neutral outlook according to the companies health.
Based on momentum, paid dividends and discounted-cash-flow analyses, the fair value of PUBM is around 5.25 USD . This means that PUBM is currently overvalued and has a potential downside of -31.37%.

Is PUBM a buy, sell or hold?

Pubmatic has received a consensus analysts rating of 3.91. Therefore, it is recommended to buy PUBM.

Strong Buy: 4
Buy: 2
Hold: 5
Sell: 0
Strong Sell: 0

What are the forecasts/targets for the PUBM price?

Issuer	Target	Up/Down from current
Wallstreet Target Price	11.3	47.5%
Analysts Target Price	11.3	47.5%
ValueRay Target Price	6	-22.1%

PUBM Fundamental Data Overview November 11, 2025

Market Cap USD = 338.4m (338.4m USD * 1.0 USD.USD)
P/E Forward = 53.4759
P/S = 1.1579
P/B = 1.5562
P/EG = 5.3444
Beta = 1.495
Revenue TTM = 292.2m USD
EBIT TTM = -3.93m USD
EBITDA TTM = 42.4m USD
Long Term Debt = 45.2m USD (from capitalLeaseObligations, last quarter)
Short Term Debt = 6.47m USD (from shortTermDebt, last quarter)
Debt = 45.7m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -44.8m USD (from netDebt column, last quarter)
Enterprise Value = 266.4m USD (338.4m + Debt 45.7m - CCE 117.6m)
Interest Coverage Ratio = -0.85 (Ebit TTM -3.93m / Interest Expense TTM -4.63m)
FCF Yield = 10.62% (FCF TTM 28.3m / Enterprise Value 266.4m)
FCF Margin = 9.68% (FCF TTM 28.3m / Revenue TTM 292.2m)
Net Margin = -0.58% (Net Income TTM -1.71m / Revenue TTM 292.2m)
Gross Margin = 64.87% ((Revenue TTM 292.2m - Cost of Revenue TTM 102.6m) / Revenue TTM)
Gross Margin QoQ = 62.57% (prev 59.91%)
Tobins Q-Ratio = 0.39 (Enterprise Value 266.4m / Total Assets 675.2m)
Interest Expense / Debt = 3.12% (Interest Expense 1.43m / Debt 45.7m)
Taxrate = 14.20% (-862.0k / -6.07m)
NOPAT = -3.37m (EBIT -3.93m * (1 - 14.20%)) [loss with tax shield]
Current Ratio = 1.32 (Total Current Assets 513.0m / Total Current Liabilities 388.7m)
Debt / Equity = 0.19 (Debt 45.7m / totalStockholderEquity, last quarter 243.3m)
Debt / EBITDA = -1.06 (Net Debt -44.8m / EBITDA 42.4m)
Debt / FCF = -1.58 (Net Debt -44.8m / FCF TTM 28.3m)
Total Stockholder Equity = 264.8m (last 4 quarters mean from totalStockholderEquity)
RoA = -0.25% (Net Income -1.71m / Total Assets 675.2m)
RoE = -0.64% (Net Income TTM -1.71m / Total Stockholder Equity 264.8m)
RoCE = -1.27% (EBIT -3.93m / Capital Employed (Equity 264.8m + L.T.Debt 45.2m))
RoIC = -1.27% (negative operating profit) (NOPAT -3.37m / Invested Capital 264.8m)
WACC = 10.47% (E(338.4m)/V(384.0m) * Re(11.52%) + D(45.7m)/V(384.0m) * Rd(3.12%) * (1-Tc(0.14)))
Discount Rate = 11.52% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -100.0 | Cagr: -7.33%
[DCF Debug] Terminal Value 62.51% ; FCFE base≈40.9m ; Y1≈33.8m ; Y5≈24.6m
Fair Price DCF = 7.35 (DCF Value 275.4m / Shares Outstanding 37.5m; 5y FCF grow -20.84% → 3.0% )
EPS Correlation: 6.25 | EPS CAGR: -31.80% | SUE: 3.12 | # QB: 2
Revenue Correlation: 33.43 | Revenue CAGR: 3.60% | SUE: 1.67 | # QB: 1

Additional Sources for PUBM Stock

News: Wall Street Journal | Benzinga | Yahoo Finance
Tweets: X | Stocktwits
Fund Manager Positions: Dataroma | Stockcircle