PubMatic, Inc. (PUBM) intrinsic value & 10-year financials
PubMatic, Inc. (PUBM) has a Graham intrinsic value of $7.64 per share. At $16.64 on Oct 17, 2026, the stock trades 118% above that value. Over the last 8 fiscal years revenue grew 16.4% a year to $282.9M, with an average return on invested capital of 12.0%.
- Graham intrinsic value
- $7.64
- Share price (Oct 17, 2026)
- $16.64
- Price vs Graham value
- 118% above
- Market cap
- $782.2M
- Revenue (FY2025)
- $282.9M
- Revenue growth (8-yr CAGR)
- 16.4%
- ROIC (10-yr avg)
- 12.0%
- Free cash flow (FY2025)
- $66.7M
PUBM 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $282.9M | -$14.5M | -$0.31 | $66.7M | -6.1% | -8.4% |
| FY2024 | $291.3M | $12.5M | $0.23 | $55.8M | 1.3% | 1.2% |
| FY2023 | $267.0M | $8.9M | $0.16 | $70.5M | 0.8% | 0.7% |
| FY2022 | $256.4M | $28.7M | $0.50 | $51.3M | 15.8% | 14.3% |
| FY2021 | $226.9M | $56.6M | $1.00 | $58.2M | 25.9% | 35.7% |
| FY2020 | $148.7M | $26.6M | $0.46 | $153.0K | 21.3% | 28.4% |
| FY2019 | $113.9M | $6.6M | $0.04 | $25.6M | 7.5% | — |
| FY2018 | — | — | — | — | — | — |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
PubMatic, Inc. revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.
PubMatic, Inc. returns on capital have been average, hovering around 12.0% ROIC over the decade.
PubMatic, Inc. capital allocation metrics are N/A for the decade; share count and net debt history are incomplete.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, PubMatic, Inc. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $7.64 per share.