PubMatic, Inc. (PUBM) stock

PUBMNasdaqServices-Computer Programming, Data Processing, Etc.Fiscal year ends December 31

Financials through Q3 FY2026, quarter ended Sep 30, 2026Last filing: 10-Q on Nov 9, 2026Score 8/30140% above fair value

$19.02+0.71 (+3.88%)

Close on Nov 12, 2026Market cap $866.36MP/E –Yield –

PubMatic operating margin

Operating margin is operating income as a percentage of revenue.

PubMatic's operating margin for the twelve months ending Sep 30, 2026 was 0.9%. For fiscal 2025 it was -6.1%, against 1.3% the year before. The highest annual figure on record is 25.9% in fiscal 2021.

Annual operating margin

Period	Period end	Value	Change (pts)
FY2025	Dec 31, 2025	-6.1%	−7.4
FY2024	Dec 31, 2024	1.3%	+0.6
FY2023	Dec 31, 2023	0.8%	−15.0
FY2022	Dec 31, 2022	15.8%	−10.1
FY2021	Dec 31, 2021	25.9%	+4.6
FY2020	Dec 31, 2020	21.3%	+13.9
FY2019	Dec 31, 2019	7.5%	–

Quarterly operating margin

Change is against the same quarter a year earlier.

Period	Period end	Value	Change (pts)
Q3 FY2026	Sep 30, 2026	11.0%	+23.4
Q2 FY2026	Jun 30, 2026	0.7%	+8.4
Q1 FY2026	Mar 31, 2026	-24.4%	−5.8
Q4 FY2025	Dec 31, 2025	10.6%	−6.7
Q3 FY2025	Sep 30, 2025	-12.4%	−10.5
Q2 FY2025	Jun 30, 2025	-7.7%	−1.8
Q1 FY2025	Mar 31, 2025	-18.6%	−10.4
Q4 FY2024	Dec 31, 2024	17.3%	−6.8
Q3 FY2024	Sep 30, 2024	-1.9%	−1.0
Q2 FY2024	Jun 30, 2024	-5.9%	+5.3
Q1 FY2024	Mar 31, 2024	-8.3%	+11.0
Q4 FY2023	Dec 31, 2023	24.1%	+1.9
Q3 FY2023	Sep 30, 2023	-0.9%	−15.8
Q2 FY2023	Jun 30, 2023	-11.3%	−26.8
Q1 FY2023	Mar 31, 2023	-19.3%	−27.7
Q4 FY2022	Dec 31, 2022	22.2%	−14.8
Q3 FY2022	Sep 30, 2022	14.9%	−9.3
Q2 FY2022	Jun 30, 2022	15.5%	−4.9
Q1 FY2022	Mar 31, 2022	8.4%	−6.8
Q4 FY2021	Dec 31, 2021	37.0%	−2.5
Q3 FY2021	Sep 30, 2021	24.2%	+3.6
Q2 FY2021	Jun 30, 2021	20.4%	+17.6
Q1 FY2021	Mar 31, 2021	15.2%	+11.6
Q4 FY2020	Dec 31, 2020	39.5%	–
Q3 FY2020	Sep 30, 2020	20.6%	–
Q2 FY2020	Jun 30, 2020	2.8%	–
Q1 FY2020	Mar 31, 2020	3.6%	–