PTC Inc. management check

PTC · Information Technology · Application Software · CEO Neil Barua

Filings as of

42
Management score, ranked 461st of 487Strongest: clean books. Weakest: CEO cost. See the best and worst run in Information Technology →

1 good · 5 to watch · 1 flagged, across the seven questions below.

  • Watch

    Have owners done well?

    Trailed its chosen peers

    $100 invested at the start of fiscal 2021 grew to $245, against $285 for the peer group the company picked itself.

  • Watch

    Does pay follow performance?

    Pay only loosely tracked returns

    Over 5 years, the CEO's pay actually paid (equity valued at the share price) had a correlation of -0.11 with shareholder return. 1 means pay moved in step; below 0, the opposite way.

  • Flag

    What does the CEO cost owners?

    3.3% of net income

    $24.3m of reported pay in fiscal 2025, against $733.9m of net income.

  • Watch

    Do they own the stock?

    CEO stake ≈ 0.6 years of pay

    The CEO holds 98,024 shares, directly or through trusts (unvested awards not counted): about 0.6 years of pay. Light activity: no buys, $462k sold in six months. 1 of 2 sales ran on pre-arranged 10b5-1 plans.

  • Watch

    Are owners being diluted?

    Share count growing

    Diluted shares changed +0.6% a year over the last three fiscal years. Stock-based pay was 7.9% of revenue in the latest year.

  • Watch

    Is leadership stable?

    2 CEOs in the pay table

    CEOs in the pay table: Mr. Heppelmann, Mr. Barua. 8 filings under 8-K item 5.02 (officers or directors leaving or joining, or new pay arrangements) in the last 3 years.

  • Good

    Are the books clean?

    No red flags on file

    No restatements, auditor changes or late filings since 2021.

Against the S&P 500

Each check's score (0–100) and how it compares: the share of ranked S&P 500 companies it matches or beats, and the median in Information Technology.

CheckScoreAt or aboveSector median
Owner returns3339%33
Pay for performance4410%87
CEO cost718%35
Skin in the game2422%47
Dilution4223%56
Stable leadership4522%85
Clean books100100%100

Closest peers

Others in Application Software, by management score. PTC Inc. is 66th of 73 in its sector.

  1. 72PLTRPalantir Technologies78
  2. 186FICOFair Isaac70
  3. 202CRMSalesforce68
  4. 264ADBEAdobe Inc.64
  5. 343DDOGDatadog59
  6. 350INTUIntuit58
  7. 405TYLTyler Technologies52
  8. 430ORCLOracle Corporation49
  9. 445CDNSCadence Design Systems47
  10. 456ADSKAutodesk44

Pay versus performance

From the proxy statement filed December 23, 2025. "Actually paid" values stock awards at the share price, so it rises and falls with the stock.

CEO pay by fiscal yearAs reported Actually paid
$0$21.8m$43.6m20212022202320242025
What $100 becameCompany Peer group
$10020212022202320242025$245
Fiscal yearCEOCEO payActually paidOther executives (avg)$100 becamePeersNet income
2025Mr. Barua$24.3m$22.9m$8.3m$245$285$733.9m
2024Mr. Heppelmann$16.4m$20.1m$6.2m$218$222$376.3m
2023—$15.6m$32.8m$7.9m$171$146$245.5m
2022—$12.9m$10.4m$3.9m$126$103$313.1m
2021—$13.0m$43.6m$4.3m$145$129$476.9m

The board says pay is tied most to free cash flow. Its other key measures: Free Cash Flow, Adjusted Free Cash Flow, Annual Run Rate (ARR), Relative TSR.

Insiders and the CEO's stake

Neil Barua (President and CEO) held 98,024 shares directly after their latest Form 4 on Aug 15, 2026, roughly $14.7m at that filing's price.

Light activity: no buys, $462k sold in six months. 1 of 2 sales ran on pre-arranged 10b5-1 plans.

  • SoldCorinna LathanDirector · 10b5-1 plan$343kOct 5, 2026
  • SoldAlice ChristensonChief Accounting Officer$119kMay 12, 2026

Leadership and governance on file

Latest shareholder vote results: Feb 11, 2026, including the say-on-pay vote.

Where the money went

Over 2021–2025: $455.0m returned to owners in buybacks and dividends, 21% of net income, and $998.3m of pay in stock.

Fiscal year20212022202320242025
Revenue$1.8bn$1.9bn$2.1bn$2.3bn$2.7bn
Net income$476.9m$313.1m$245.5m$376.3m$734.0m
Stock-based pay$177.3m$174.9m$206.5m$223.5m$216.2m
Buybacks$30.0m$125.0m$0$0$300.0m
Dividends—————
Diluted shares118m118m119m121m121m

Educational only, not investment advice. Figures are as filed with the SEC: pay from the proxy's pay-versus-performance table, capital allocation from 10-K XBRL data, insider trades from Form 4s over the last six months, events from the last 5 years of filings. The peer group is the one the company chose. See the method.