HubSpot vs PTC
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KIRA’s take AI analyst
I put HubSpot and PTC side by side, using each one’s latest annual report. Here is what stands out:
- HubSpot is the larger business, with $3.1B of revenue in fiscal 2025 against $2.7B for PTC.
- PTC kept more of each dollar of sales as operating profit (35.9% operating margin, against 0.2%).
- PTC turned more of its sales into free cash flow (31.3% FCF margin, against 22.6%).
- Investors pay more for each dollar of HubSpot’s earnings: a P/E of 93.9x against 18.9x for PTC.
Who comes out ahead
Of the 8 measures where higher (or lower) is clearly better, how many each company leads.
HubSpot
HUBS
1/8
5-year growth
PTC
PTC
6/8
Revenue growthOperating marginNet marginFCF marginReturn on equityShare count change
Side by side
Best in the row
| Latest fiscal year | HUBS FY25 | PTC FY25 |
|---|---|---|
| Size | ||
| Market cap | $13.4B | $22.3B |
| Revenue | $3.1B | $2.7B |
| Free cash flow | $708M | $857M |
| Net income | $45.9M | $734M |
| Growth | ||
| Revenue growth | 19.2% | 19.2% |
| 5-year growth | 28.8% | 13.4% |
| Share count change | 2.7% | 0.0% |
| Profitability | ||
| Gross margin | 83.8% | 83.8% |
| Operating margin | 0.2% | 35.9% |
| Net margin | 1.5% | 26.8% |
| FCF margin | 22.6% | 31.3% |
| Return on capital | — | 17.4% |
| Return on equity | 2.3% | 20.9% |
| Balance sheet | ||
| Net debt | — | $988M |
| Net debt / EBITDA | — | 0.9x |
| Dividends and buybacks | $500M | $300M |
| Valuation & quality | ||
| P/E | 93.9x | 18.9x |
| Piotroski F-score | — | 8 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.