Technology · Software - Application
Price
$63.01
Market Cap
$2.6B
Employees
539
Beta
1.71
Avg Volume
755,019
CEO
John K. Kibarian
Business Description
PDF Solutions, Inc. offers a comprehensive array of solutions to the semiconductor sector, encompassing proprietary software, physical intellectual property for integrated circuit designs, electrical measurement hardware, proven methodologies, and professional services. The company maintains a global presence, with significant operations in the United States, China, Japan, Taiwan, and other international regions. At the core of their software portfolio is the Exensio platform. This includes Manufacturing Analytics, which centralizes collected data, providing engineers with a consistent view to effectively identify and analyze production yield, performance, and reliability issues. Process Control delivers capabilities for failure detection, classification, and robust monitoring and management of manufacturing tool sets. Test Operations focuses on efficient data collection and analytical functionalities, while Assembly Operations is designed to seamlessly link assembly, packaging, fabrication, and characterization data throughout a product's entire lifespan. Beyond software, PDF Solutions provides advanced hardware and systems such as their design-for-inspection (DFI) Systems, featuring DFI on-chip instruments, and the eProbe, a non-contact E-beam tool. They also offer the Characterization Vehicle (CV) system, which comprises CV test chips, pdFasTest electrical testers, and specialized Exensio characterization software tailored to process measurements gathered from DFI on-chip instruments using the eProbe tool. Further enhancing their product suite are Cimetrix software products, which facilitate the implementation of industry-standard interfaces for equipment manufacturers. Their service offerings extend to software-as-a-service (SaaS) subscriptions, various software-related support, and dedicated characterization services. PDF Solutions engages a broad spectrum of clients—including integrated device manufacturers, fabless semiconductor companies, foundries, equipment manufacturers, electronics manufacturing suppliers, original device manufacturers, outsourced semiconductor assembly and test firms, and system houses—through a combination of direct sales, dedicated service teams, and strategic alliances. Established in 1991, the company's headquarters are located in Santa Clara, California.
Business History
Price Overview
Last updated: Jun 27, 2026 8:56am (just now)$63.01
-5.66 (-8.24%)
Day Range
$61.66 – $66.36
52-Week Range
$18.12 – $68.76
50-Day MA
$51.25
200-Day MA
$35.20
Volume
1,545,510.00
Analyst Price Targets
Low
$48.00
Consensus
$48.00
High
$48.00
(5 analysts)
Share Structure
Outstanding
41,182,500.00
Float
32,552,854.00
Free Float
79.0%
Normal free float
— 79.0% of shares trade freely, ~21% held by insiders/institutions
Healthy float typical of established companies. Good liquidity for entering and exiting positions without major price impact.
Price History (1 Year)
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
API Direct from provider
CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
APIStock Price / EPS (Diluted)
349.63
Stock Price: $63.01
EPS (Diluted): -0.02
EPS (Diluted): -0.02
P/B Ratio (Price vs net asset value)
APIStock Price / Book Value Per Share
4.14
Stock Price: $63.01
Total Equity: $271.02M
Shares: 39,317,000
Total Equity: $271.02M
Shares: 39,317,000
EV/EBITDA (Total value vs operating profit)
APIEnterprise Value / EBITDA
102.20
Market Cap: $2.59B
Total Debt: $72.82M
Cash: $42.22M
EBITDA: $18.50M
Total Debt: $72.82M
Cash: $42.22M
EBITDA: $18.50M
Enterprise Value (Takeover price (cap + debt - cash))
APIMarket Cap + Total Debt - Cash
$1.2B
Market Cap: $2.59B
Total Debt: $72.82M
Cash: $42.22M
Total Debt: $72.82M
Cash: $42.22M
P/S Ratio (Price per dollar of revenue)
APIStock Price / Revenue Per Share
5.12
Stock Price: $63.01
Revenue: $219.02M
Shares: 39,317,000
Revenue: $219.02M
Shares: 39,317,000
EV/Sales (Total value vs revenue — works when P/E can't)
API5.28
Gross Margin (Revenue left after direct costs)
APIGross Profit / Revenue
74.0%
Gross Profit: $162.07M
Revenue: $219.02M
Revenue: $219.02M
Operating Margin (Revenue left after all operations)
APIOperating Income / Revenue
2.7%
Operating Income: $5.85M
Revenue: $219.02M
Revenue: $219.02M
Net Margin (Revenue left as actual profit)
APINet Income / Revenue
-0.3%
Net Income: -$640,000
Revenue: $219.02M
Revenue: $219.02M
ROE (Profit from shareholder equity)
APINet Income / Total Equity
2.7%
Net Income: -$640,000
Total Equity: $271.02M
Total Equity: $271.02M
ROIC (Profit from all invested capital)
APINOPAT / Invested Capital
2.6%
Operating Income: $5.85M
Tax Rate: 120.0%
Equity: $271.02M
Total Debt: $72.82M
Cash: $42.22M
Tax Rate: 120.0%
Equity: $271.02M
Total Debt: $72.82M
Cash: $42.22M
Current Ratio (Can it pay short-term bills)
APICurrent Assets / Current Liabilities
2.28
Current Assets: $163.89M
Current Liabilities: $71.89M
Current Liabilities: $71.89M
Debt/Equity (Leverage — debt vs equity)
CALCTotal Debt / Total Equity
0.27
Short-Term Debt: $4.22M
Long-Term Debt: $68.60M
Total Debt: $72.82M
Total Equity: $271.02M
Long-Term Debt: $68.60M
Total Debt: $72.82M
Total Equity: $271.02M
Rev/Share (Top-line per share)
CALCRevenue / Shares Outstanding
$5.57
Revenue: $219.02M
Shares: 39,317,000
Shares: 39,317,000
Book Value/Share (Net assets per share)
CALC(Total Assets - Total Liabilities) / Shares
$6.89
Total Equity: $271.02M
Shares: 39,317,000
Shares: 39,317,000
FCF/Share (Real cash generated per share)
CALC(Operating Cash Flow + CapEx) / Shares
$-0.22
Operating CF: $24.05M
CapEx: -$32.63M
Shares: 39,317,000
CapEx: -$32.63M
Shares: 39,317,000
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
APILast Annual Dividend / Stock Price
0.0%
Last Dividend: N/A
Stock Price: $63.01
Stock Price: $63.01
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: -$640,000
Net Income: -$640,000
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares PDFS against LLM-researched typical ranges for its
industry. One research call per industry, cached indefinitely — every stock in the same industry
reuses the same baseline.
Deep Analysis
Pre-flight intelligence scans the company first, then routes to the right analytical methods.
0
Company Classification
— What type of company is this?
1
Industry Landscape
— Where is the industry headed?
2
Company Momentum
— Where is this company trending?
3
Forward Projection
— 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a
DCF Valuation
— Present value of future cash flows
4b
Earnings Power Value
— Floor value — worth with zero growth
4c
Anchored PE
— Industry PE adjusted for growth differential
4d
Reverse DCF
— What growth is the market pricing in?
4e
Revenue-Based DCF
— For growth/narrative companies (skip if mature earner)
4f
Anchored P/S
— Price-to-Sales peer comparison (skip if mature earner)
4g
Scenario Analysis
— Bull / Base / Bear (skip if mature earner)
4h
Dividend Discount Model
— For dividend/income stocks only
4i
Book Value Analysis
— For deep value / turnaround stocks only
4j
Insider Activity
— Are insiders buying or selling?
4f
Cash Flow Quality
— How trustworthy is the FCF?
4g
Debt Maturity Risk
— Can it handle its debt?
4h
Macro Environment
— Rates, market valuation, volatility
4i
Sector Intelligence
— How does this company compare within its sector?
4j
Revenue Confidence
— How reliable is the growth projection?
4k
Sensitivity Analysis
— How fragile is the fair value estimate?
4l
Sector Demand Cycle
— Is the sector in a boom, steady state, or contraction?
5
AI Investigation
— Adaptive research engine (Claude)
5b
Thesis Evaluation
— What does the market believe? (narrative/platform stocks only)
6
Valuation Synthesis
— Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Last updated: Jun 21, 2026 7:33pm (5d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $111.1M | $148.5M | $165.8M | $179.5M | $219.0M |
| Cost of Revenue | $44.2M | $47.9M | $51.7M | $54.1M | $57.0M |
| Gross Profit | $66.9M | $100.6M | $114.1M | $125.3M | $162.1M |
| Operating Expenses | $83.5M | $103.7M | $115.2M | $125.8M | $156.2M |
| Operating Income | -$16.6M | -$3.0M | -$1.1M | $-504,000 | $5.8M |
| Net Income | -$21.5M | -$3.4M | $3.1M | $4.1M | $-640,000 |
| EBITDA | -$6.3M | $4.7M | $6.1M | $5.5M | $18.5M |
| EPS | $-0.58 | $-0.09 | $0.08 | $0.11 | $-0.02 |
| EPS (Diluted) | — | — | — | — | — |
Balance Sheet (Annual)
Last updated: Jun 21, 2026 7:33pm (5d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $27.7M | $119.6M | $99.0M | $90.6M | $42.2M |
| Total Current Assets | $188.5M | $193.4M | $197.8M | $206.0M | $163.9M |
| Total Assets | $273.8M | $278.7M | $290.1M | $315.3M | $418.7M |
| Current Liabilities | $43.8M | $58.2M | $50.8M | $60.5M | $71.9M |
| Long-Term Debt | $0 | $0 | $0 | $0 | $68.6M |
| Total Liabilities | $54.2M | $68.7M | $61.2M | $69.3M | $147.7M |
| Total Equity | $219.6M | $210.0M | $228.9M | $246.0M | $271.0M |
| Retained Earnings | -$97.7M | -$101.2M | -$98.0M | -$94.0M | -$94.6M |
Cash Flow (Annual)
Last updated: Jun 21, 2026 7:33pm (5d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | $4.2M | $32.3M | $14.6M | $9.7M | $24.1M |
| Capital Expenditure | -$4.1M | -$8.6M | -$11.5M | -$17.2M | -$32.6M |
| Free Cash Flow | $190,000 | $23.7M | $3.1M | -$7.5M | -$8.6M |
| Acquisitions (net) | -$3.1M | $171,000 | -$1.8M | $0 | -$129.7M |
| Debt Repayment | — | — | — | — | — |
| Dividends Paid | — | — | — | — | — |
| Stock Buybacks | -$4.5M | -$22.5M | $-743,000 | -$6.9M | $-244,000 |
| Net Change in Cash | -$6.1M | $91.9M | -$20.6M | -$8.4M | -$48.4M |
Analyst Estimates (Annual)
Last updated: Jun 27, 2026 3:51am (5h ago)| Metric | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|
| Revenue |
$218.6M $217.1M – $219.9M
|
$262.9M $261.1M – $264.5M
|
$315.9M $313.8M – $317.9M
|
$368.6M $366.1M – $370.9M
|
| EBITDA |
$45.0M $44.7M – $45.3M
|
$54.2M $53.8M – $54.5M
|
$65.1M $64.6M – $65.5M
|
$75.9M $75.4M – $76.4M
|
| Net Income |
$33.3M $31.5M – $35.2M
|
$49.0M $47.9M – $50.2M
|
$61.6M $58.8M – $64.5M
|
$79.0M $78.3M – $79.7M
|
| EPS | — | — | — | — |
Growth Trends (YoY %)
Last updated: Jun 21, 2026 7:33pm (5d ago)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | +33.8% | +11.6% | +8.2% | +22.0% |
| Gross Profit Growth | +50.5% | +13.4% | +9.8% | +29.3% |
| Operating Income Growth | +81.8% | +62.7% | +55.5% | +1,260.1% |
| Net Income Growth | +84.0% | +190.6% | +30.7% | -115.8% |
| EBITDA Growth | +175.1% | +30.1% | -10.8% | +238.8% |
Insider Trading (Recent)
Last updated: Jun 27, 2026 3:51am (5h ago)
Type codes
PPurchase
SSale
AAward / grant
MOption exercise
FIn-kind (tax)
CConversion
GGift
DReturn to issuer
All SEC Form 4 codes
Open market
- P Purchase
- Open-market or private purchase of shares.
- S Sale
- Open-market or private sale of shares.
Compensation (Rule 16b-3)
- A Award / grant
- Grant or award of securities (RSUs, options, etc.) under Rule 16b-3.
- D Return to issuer
- Securities disposed back to the company under Rule 16b-3.
- F In-kind (tax)
- Shares withheld or delivered to pay the option-exercise price or tax — not an open-market sale.
- I Discretionary
- Discretionary transaction under an employee plan — Rule 16b-3(f).
- M Option exercise
- Exercise or conversion of a derivative (option/RSU) into shares — exempt.
Derivatives
- C Conversion
- Conversion of a derivative security into the underlying shares.
- E Short expiration
- Expiration of a short derivative position.
- H Long expiration
- Expiration or cancellation of a long derivative position with value received.
- O OTM exercise
- Exercise of an out-of-the-money derivative.
- X ITM exercise
- Exercise of an in-the-money or at-the-money derivative.
Other exempt
- G Gift
- Bona fide gift of securities.
- L Small acquisition
- Small acquisition under Rule 16a-6.
- W Inheritance
- Acquisition or disposition by will or the laws of descent.
- Z Voting trust
- Deposit into or withdrawal from a voting trust.
Other
- J Other
- Other acquisition or disposition (explained in a Form 4 footnote).
- K Equity swap
- Transaction in an equity swap or similar instrument.
- U Tender / buyout
- Disposition via tender of shares in a change-of-control transaction.
Compensation-plan codes (A, D, F, M) are routine and rarely directional. Open-market P (buy) and S (sale) carry the most signal.
| Date | Insider | Type | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-01-01 | Strojwas Andrzej | F-InKind | 2,762.00 | $28.53 | $78,800 |
| 2026-01-01 | Raza Adnan | F-InKind | 5,498.00 | $28.53 | $156,858 |
| 2025-12-09 | MICHAELS KIMON | G-Gift | 5,070.00 | $0.00 | $0 |
| 2025-08-01 | Raza Adnan | A-Award | 35,000.00 | $0.00 | $0 |
| 2025-08-01 | Strojwas Andrzej | A-Award | 8,000.00 | $0.00 | $0 |
| 2025-07-01 | MICHAELS KIMON | F-InKind | 798.00 | $21.87 | $17,452 |
| 2025-07-01 | Raza Adnan | F-InKind | 4,921.00 | $21.87 | $107,622 |
| 2025-07-01 | Strojwas Andrzej | F-InKind | 2,497.00 | $21.87 | $54,609 |
| 2025-07-01 | BRONSON JOSEPH R | A-Award | 7,429.00 | $0.00 | $0 |
| 2025-07-01 | CHAN CHI-FOON | A-Award | 7,429.00 | $0.00 | $0 |
| 2025-07-01 | Erba Nancy | A-Award | 7,429.00 | $0.00 | $0 |
| 2025-07-01 | GUSTAFSON MICHAEL B | A-Award | 7,429.00 | $0.00 | $0 |
| 2025-07-01 | Li Ye Jane | A-Award | 7,429.00 | $0.00 | $0 |
| 2025-07-01 | Zhang Shuo | A-Award | 7,429.00 | $0.00 | $0 |
| 2025-05-13 | GUSTAFSON MICHAEL B | P-Purchase | 7,500.00 | $19.45 | $145,875 |
| 2025-02-24 | GUSTAFSON MICHAEL B | P-Purchase | 4,000.00 | $23.06 | $92,240 |
| 2025-02-25 | KIBARIAN JOHN KACHIG | P-Purchase | 15,644.00 | $22.11 | $345,889 |
| 2025-02-24 | KIBARIAN JOHN KACHIG | P-Purchase | 34,356.00 | $22.80 | $783,317 |
| 2024-12-31 | MICHAELS KIMON | 0.00 | $0.00 | $0 | |
| 2025-01-01 | MICHAELS KIMON | F-InKind | 870.00 | $0.00 | $0 |
Narrative Economics
The story the market is telling about this stock — the intangible X-factor
(founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond
what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for PDFS — it's generated by the pipeline (
market-narrative step).
No community reviews yet for PDFS.
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My Notes
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Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.352 · d1100787 · 2026-06-26 11:39:30