A Business at a Glance
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PDF SOLUTIONS INC
PDFS
$1.6B
Mkt Cap
$50.98
-2.62%
PDF SOLUTIONS INC (PDFS) has a 5-year average return on invested capital (ROIC) of -0.3%. This is below average and may indicate limited pricing power.
PDF SOLUTIONS INC (PDFS) has a market capitalization of $2.0B. It is classified as a mid-cap stock.
PDF SOLUTIONS INC (PDFS) does not currently pay a regular dividend. However, the company returns capital to shareholders through share buybacks, with a buyback yield of 0.01%.
PDF SOLUTIONS INC (PDFS) operates in the Services-Prepackaged Software industry, within the Technology sector.
PDF SOLUTIONS INC (PDFS) reported annual revenue of $219 million in its most recent fiscal year, based on SEC EDGAR filings.
PDF SOLUTIONS INC (PDFS) has a net profit margin of -0.3%. The company is currently unprofitable.
PDF SOLUTIONS INC (PDFS) generated $-9 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
Item 1. Business We provide comprehensive data solutions designed to empower organizations across the semiconductor and electronics ecosystems to improve the yield and quality of their products and operational efficiency for increased profitability. We derive revenues from two categories, Platform and Volume-based fees. Our offerings that contribute to Platform revenue are licenses for software (other than Cimetrix® runtime licenses) and related software maintenance and technical support services; software-as-a-service (“SaaS”); engineering services; fixed fees associated with Characterization Vehicle® systems; and licenses and purchase contracts for DirectScan™ systems (formerly known as “DFI systems”). Volume-based revenue is derived from Cimetrix runtime licenses, secureWISE® data, and variable/royalty fees associated with CV® systems (sometimes referred to as Gainshare).
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 231M | 219M | 179M | 166M | 149M | 111M |
| Net Income | 7.2M | -640K | 4.1M | 3.1M | -3.4M | -21M |
| EPS | $0.18 | $-0.02 | $0.10 | $0.08 | $-0.09 | $-0.58 |
| Free Cash Flow | -18M | -8.6M | -7.5M | 3.4M | 24M | 571K |
| ROIC | 3.0% | 1.6% | 3.0% | 3.1% | 0.4% | -9.8% |
| Gross Margin | 72.1% | 72.3% | 69.8% | 68.8% | 67.8% | 60.2% |
| Debt/Equity | 0.24 | 0.28 | 0.02 | 0.03 | 0.03 | 0.03 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 16M | 5.8M | 6.6M | 4.9M | 470K | -18M |
| Operating Margin | 6.8% | 2.7% | 3.7% | 2.9% | 0.3% | -16.5% |
| ROE | 2.6% | -0.2% | 1.6% | 1.4% | -1.6% | -9.8% |
| Shares Outstanding | 40M | 32M | 41M | 39M | 38M | 37M |
| Metric | 2018 | 2019 | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 100M | 98M | 107M | 102M | 86M | 86M | 88M | 111M | 149M | 166M | 179M | 219M | 231M |
| Gross Margin | 60.4% | 60.2% | 58.6% | 53.4% | 50.1% | 60.9% | 58.2% | 60.2% | 67.8% | 68.8% | 69.8% | 72.3% | 72.1% |
| R&D | 14M | 19M | 28M | 30M | 28M | 33M | 35M | 44M | 56M | 51M | 54M | 64M | 68M |
| SG&A | 18M | 20M | 22M | 24M | 24M | 26M | 33M | 38M | 45M | 62M | 70M | 85M | 79M |
| EBIT | 28M | 19M | 13M | 190K | -10.0M | -7.4M | -18M | -18M | 470K | 4.9M | 6.6M | 5.8M | 16M |
| Op. Margin | 27.8% | 19.6% | 12.1% | 0.2% | -11.6% | -8.6% | -20.5% | -16.5% | 0.3% | 2.9% | 3.7% | 2.7% | 6.8% |
| Net Income | 18M | 12M | 9.1M | -1.3M | -7.7M | -5.4M | -40M | -21M | -3.4M | 3.1M | 4.1M | -640K | 7.2M |
| Net Margin | 18.4% | 12.7% | 8.5% | -1.3% | -9.0% | -6.3% | -45.8% | -19.3% | -2.3% | 1.9% | 2.3% | -0.3% | 3.1% |
| Non-Recurring | 299K | -2K | -107K | -6K | 346K | 92K | 0 | 0 | 0 | 3.2M | 0 | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | 38.7% | 24.6% | 14.0% | 0.2% | -3.9% | -2.8% | -17.2% | -9.8% | 0.4% | 3.1% | 3.0% | 1.6% | 3.0% |
| ROE | 12.5% | 7.4% | 4.9% | -0.7% | -3.9% | -2.8% | -17.2% | -9.8% | -1.6% | 1.4% | 1.6% | -0.2% | 2.6% |
| ROA | 11.2% | 6.7% | 4.4% | -0.6% | -3.4% | -2.3% | -14.0% | -7.8% | -1.2% | 1.1% | 1.3% | -0.2% | 1.7% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 27M | 30M | 2.0M | 11M | 13M | 25M | 22M | 4.2M | 32M | 15M | 9.7M | 24M | 17M |
| Free Cash Flow | 23M | 26M | -9.3M | 290K | 222K | 14M | 16M | 571K | 24M | 3.4M | -7.5M | -8.6M | -18M |
| Owner Earnings | 17M | 18M | -13M | -6.1M | -1.9M | 7.1M | 2.6M | -15M | 7.1M | -12M | -19M | -6.0M | -14M |
| CapEx | 4.0M | 4.8M | 11M | 10M | 13M | 11M | 6.0M | 3.7M | 8.4M | 11M | 17M | 33M | 35M |
| Maint. CapEx | 2.0M | 2.6M | 3.6M | 4.8M | 5.0M | 6.0M | 6.7M | 6.2M | 5.5M | 5.0M | 3.6M | 4.1M | 5.0M |
| Growth CapEx | 1.9M | 2.1M | 7.7M | 5.5M | 8.1M | 4.5M | 0 | 0 | 2.9M | 6.2M | 14M | 29M | 30M |
| D&A | 2.0M | 2.6M | 3.6M | 4.8M | 5.0M | 6.0M | 6.7M | 6.2M | 5.5M | 5.0M | 3.6M | 4.1M | 5.0M |
| CapEx/OCF | 14.6% | 15.8% | 564.1% | 97.2% | 98.3% | 42.9% | 27.6% | 86.5% | 26.0% | 77.0% | 176.8% | 135.7% | 204.8% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 3.6M | 15M | 2.2M | 13M | 5.2M | 9.6M | 0 | 4.5M | 22M | 743K | 6.9M | 244K | 244K |
| Buyback Yield | 0.7% | 4.0% | 0.3% | 2.6% | 2.0% | 1.8% | N/A | 0.4% | 2.1% | 0.1% | 0.6% | 0.0% | 0.0% |
| Stock-Based Comp | 8.5M | 9.8M | 11M | 12M | 10M | 11M | 12M | 13M | 20M | 21M | 25M | 26M | 26M |
| Debt Repayment | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.9M | 1.9M |
| Balance Sheet | |||||||||||||
| Net Debt | N/A | N/A | N/A | N/A | N/A | -88M | -137M | -133M | -132M | -129M | -110M | 33M | 35M |
| Cash & Equiv. | 115M | 126M | 117M | 101M | 96M | 98M | 30M | 28M | 120M | 99M | 91M | 42M | 31M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0 | 65M | 64M |
| Debt/Equity | 0.10 | 0.10 | 0.12 | 0.13 | 0.13 | 0.05 | 0.04 | 0.03 | 0.03 | 0.03 | 0.02 | 0.28 | 0.24 |
| Interest Coverage | 27840.0 | 687.2 | 180.1 | 1.4 | -118.5 | N/A | N/A | N/A | N/A | N/A | N/A | 1.5 | 3.3 |
| Equity | 162M | 174M | 199M | 198M | 200M | 196M | 235M | 220M | 210M | 229M | 246M | 271M | 280M |
| Total Assets | 177M | 192M | 222M | 224M | 226M | 240M | 288M | 274M | 279M | 290M | 315M | 419M | 431M |
| Total Liabilities | 16M | 17M | 24M | 26M | 26M | 43M | 53M | 54M | 69M | 61M | 69M | 148M | 150M |
| Intangibles | 0 | 5.0M | 4.2M | 6.1M | 7.4M | 6.2M | 25M | 21M | 18M | 16M | 12M | 52M | 50M |
| Retained Earnings | -52M | -40M | -26M | -27M | -30M | -36M | -76M | -98M | -101M | -98M | -94M | -95M | -90M |
| Working Capital | 147M | 149M | 152M | 144M | 138M | 120M | 151M | 145M | 135M | 147M | 145M | 92M | 101M |
| Current Assets | 159M | 163M | 170M | 164M | 157M | 148M | 193M | 189M | 193M | 198M | 206M | 164M | 176M |
| Current Liabilities | 12M | 14M | 19M | 20M | 20M | 28M | 42M | 44M | 58M | 51M | 61M | 72M | 75M |
| Per Share Data | |||||||||||||
| EPS | 0.58 | 0.39 | 0.28 | -0.04 | -0.24 | -0.17 | -1.17 | -0.58 | -0.09 | 0.08 | 0.10 | -0.02 | 0.18 |
| Owner EPS | 0.52 | 0.56 | -0.39 | -0.18 | -0.06 | 0.22 | 0.08 | -0.40 | 0.19 | -0.31 | -0.47 | -0.19 | -0.34 |
| Book Value | 5.08 | 5.48 | 6.11 | 5.93 | 6.21 | 6.15 | 6.80 | 5.93 | 5.51 | 5.90 | 6.06 | 8.47 | 7.03 |
| Cash Flow/Share | 0.85 | 0.95 | 0.06 | 0.32 | 0.41 | 0.77 | 0.63 | 0.11 | 0.85 | 0.38 | 0.24 | 0.75 | 0.30 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 31.8M | 31.8M | 32.5M | 33.4M | 32.1M | 31.9M | 34.5M | 37.0M | 38.1M | 38.8M | 40.6M | 32.0M | 39.9M |
| Valuation | |||||||||||||
| P/E Ratio | 25.9 | 29.5 | 80.9 | N/A | N/A | N/A | N/A | N/A | N/A | 408.1 | 278.9 | N/A | 281.9 |
| P/FCF | 20.6 | 14.3 | N/A | N/A | N/A | 37.5 | 47.7 | N/A | 44.2 | 376.7 | N/A | N/A | N/A |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 165.0 | 131.7 |
| Price/Book | 3.0 | 2.1 | 3.7 | 2.7 | 1.3 | 2.7 | 3.2 | 5.5 | 5.0 | 5.5 | 4.6 | 3.5 | 7.3 |
| Price/Sales | 5.9 | 4.7 | 4.6 | 6.0 | 4.1 | 4.8 | 7.1 | 7.2 | 6.6 | 8.4 | 7.3 | 3.4 | 8.8 |
| FCF Yield | 4.8% | 7.0% | -1.3% | 0.1% | 0.1% | 2.7% | 2.1% | 0.0% | 2.3% | 0.3% | -0.7% | -0.9% | -0.9% |
| Market Cap | 477M | 366M | 736M | 526M | 267M | 526M | 752M | 1.2B | 1.1B | 1.3B | 1.1B | 938M | 2.0B |
| Avg. Price | 18.58 | 14.50 | 15.36 | 18.30 | 10.98 | 12.91 | 18.14 | 21.45 | 25.91 | 36.02 | 32.24 | 23.22 | 50.98 |
| Year-End Price | 15.00 | 11.49 | 22.64 | 15.74 | 8.30 | 16.50 | 21.80 | 32.53 | 27.72 | 32.65 | 27.89 | 29.31 | 50.98 |
PDF SOLUTIONS INC passes 2 of 9 quality checks, indicating weak fundamentals.
The company's 5-year average gross margin is 67.8%. At current prices, the estimated annualized return to fair value is +2.3%.
PDF SOLUTIONS INC (PDFS) has a debt-to-equity ratio of 0.28. This indicates a conservatively financed balance sheet.
PDF SOLUTIONS INC (PDFS) reported earnings per share (EPS) of $-0.02 in its most recent fiscal year.
PDF SOLUTIONS INC (PDFS) has a return on equity (ROE) of -0.2%. A negative ROE may indicate losses or negative equity.
PDF SOLUTIONS INC (PDFS) has a 5-year average gross margin of 67.8%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 17 years of financial data for PDF SOLUTIONS INC (PDFS), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
PDF SOLUTIONS INC (PDFS) has a book value per share of $8.47, based on its most recent annual SEC filing.