PTC

PTC Inc

TMT


Presented:09/24/2018
Price:$103.45
Cap:$12.19B
Current Price:$184.01
Cap:$22.11B

Presented

Date09/24/2018
Price$103.45
Market Cap$12.19B
Ent Value$11.43B
P/E Ratio215.52x
Book Value$7.23
Div Yield0%
Shares O/S117.83M
Ave Daily Vol955,935
Short Int8.54%

Current

Price$184.01
Market Cap$22.11B
PTC, Inc. engages in the development and provision of software-based product management and development solutions. It operates through the following business segments: Internet of Things (IoT) Group, Solutions Group, and Professional Services. The IoT Group segment comprises of the license, subscription, support and cloud services revenue for IoT, analytics, and augmented reality solutions. The covers the license, subscription, support and cloud services revenue for the firm's computer-aided design, product lifecycle management, and service lifecycle management products. The Professional Services segment involves consulting, implementation, and training. The company was founded in 1985 and is headquartered in Needham, MA.

Publicly traded companies mentioned herein: Ansys Inc (ANSS), Dassault Systemes SE (DSY FP), Microsoft Corp (MSFT), PTC Inc (PTC), Rockwell Automation Inc (ROK), Siemens AG (SIE GR)

Highlights

The presenter is long shares of PTC Inc (PTC) and continues to see room for stock price appreciation following a doubling of the share price over the past year. Partnerships with Ansys, Microsoft, and Rockwell Automation should help drive incremental business for PTC near-term, and looking out to fiscal 2023, when the company will “truly exit” its transition, there is the potential for annual revenue to reach $2.5B (up from $1.25B today), and FCF/share to be $10. At 20x FCF (peers trade at 20x - 30x), the stock would be worth ~$200, for another 100% up over the long-run (4+ years).

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Idea Discussion

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