Okta vs PTC
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KIRA’s take AI analyst
I put Okta and PTC side by side, using each one’s latest annual report. Here is what stands out:
- Okta is the larger business, with $2.9B of revenue in fiscal 2026 against $2.7B for PTC.
- PTC grew revenue faster (19.2%, against 11.8%).
- PTC kept more of each dollar of sales as operating profit (35.9% operating margin, against 5.1%).
- PTC turned more of its sales into free cash flow (31.3% FCF margin, against 30.0%).
- Investors pay more for each dollar of Okta’s earnings: a P/E of 132.5x against 18.9x for PTC.
Who comes out ahead
Of the 9 measures where higher (or lower) is clearly better, how many each company leads.
Okta
OKTA
1/9
5-year growth
PTC
PTC
7/9
Revenue growthGross marginOperating marginNet marginFCF marginReturn on equityShare count change
Side by side
Best in the row
| Latest fiscal year | OKTA FY26 | PTC FY25 |
|---|---|---|
| Size | ||
| Market cap | $39.3B | $22.3B |
| Revenue | $2.9B | $2.7B |
| Free cash flow | $875M | $857M |
| Net income | $235M | $734M |
| Growth | ||
| Revenue growth | 11.8% | 19.2% |
| 5-year growth | 28.4% | 13.4% |
| Share count change | 2.4% | 0.0% |
| Profitability | ||
| Gross margin | 77.4% | 83.8% |
| Operating margin | 5.1% | 35.9% |
| Net margin | 8.1% | 26.8% |
| FCF margin | 30.0% | 31.3% |
| Return on capital | — | 17.4% |
| Return on equity | 3.5% | 20.9% |
| Balance sheet | ||
| Net debt | — | $988M |
| Net debt / EBITDA | — | 0.9x |
| Dividends and buybacks | $73.0M | $300M |
| Valuation & quality | ||
| P/E | 132.5x | 18.9x |
| Piotroski F-score | 8 | 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.