PDFS
PDF Solutions, Inc.

PDF Solutions, Inc.PDFS

Technology · Software - Application
48.44USD
+3.70%
Sep 23, 2026
PDFS overview ready
Leader in Semiconductor Yield Analytics Enabling Efficient Production Ramps
Provider of semiconductor manufacturing analytics, process-control software, test-data systems, and related hardware/services used to improve wafer and device yield during production ramps and ongoing fab operations.
Strong narrative exposure
Exposed to the Semiconductor Supply Chain Localization narrative through Semiconductor Manufacturing Equipment and Materials — enabling supplier.
No clear price read
Longer-term context reads near trend floor, with a near-term setup of daily advance.
Demanding valuation
The price embeds expectations that run ahead of the cash the business currently produces.
Fundamentals under pressure
Free cash flow yield is weak.
Primary risk
Dependence on semiconductor industry capital expenditure cycles.
Market Sep 22Filing Jun 30Price action Sep 22Research Jul 17

Conviction Level

NarrativeHeat8.7ThemeHeat8.0PriceAction6.3Valuation1.7CompanyPosition9.3
Price
Loading price history…

Price Action

No clear price read
Longer-term context reads near trend floor, with a near-term setup of daily advance.
EntryReset + recovery

The stock remains extended from its long-term weekly base, but the recent reset toward the daily SMA200 aligned with support at the weekly EMA21. Daily structure is recovering above the fast averages, improving the current entry location.

Key Financials

Market Cap
$2.0B
Avg Volume (60D)
604.8K
60 sessions
Revenue Growth YoY
+22.0%
FY2025 vs FY2024
Gross Margin
+69.1%
Trailing twelve months
Operating Margin
+8.2%
Trailing twelve months
Free Cash Flow Yield
-0.1%
Distance from 200DMA
+14.7%
Next Earnings
2026-11-05
P/E
198.4x
EV / EBITDA
76.9x
EV / Sales
8.3x
Market metrics as of Sep 22, 2026
Financial results for the period ended Jun 30, 2026
Filed balance-sheet data as of Jun 30, 2026

Fundamentals & Valuation

All three valuation perspectives agree this company is expensive.
PDF Solutions, Inc. has an Expensive valuation stance because the price embeds expectations that run ahead of the cash the business currently produces. It trades at 76.9x EBITDA and 8.3x revenue, which require sustained delivery to be justified.

Company Research

Thesis
Provider of semiconductor manufacturing analytics, process-control software, test-data systems, and related hardware/services used to improve wafer and device yield during production ramps and ongoing fab operations.
Opportunity
Moderate opportunity
New domestic fab and semiconductor supply-chain capital expenditure, including the process-control, data, and yield-improvement capabilities needed to qualify and ramp production efficiently.
Key risk
Dependence on semiconductor industry capital expenditure cycles.

Narrative & Theme

Semiconductor Supply Chain Localization
Part of Semiconductor Manufacturing Equipment and Materials, with moderate fit.
PDF Solutions is a credible second-order beneficiary of fab construction, localization, and production-ramp spending because newly added and technologically complex semiconductor capacity requires yield learning, process control, test-data collection, and manufacturing analytics.
Narrative HeatHot8.7 / 10
Theme HeatHeating up8.0 / 10

Business & Markets

Technology · Software - Application
What they do

PDF Solutions, Inc. provides proprietary software, intellectual property, hardware tools, methodologies, and professional services to support integrated circuit design and manufacturing processes globally.

How it earns

The company generates revenue primarily through software licensing, hardware sales, and professional services contracts.

Products & services
Exensio Manufacturing Analytics software
Process Control software
Test Operations data collection and analysis tools
Customers & end markets
Semiconductor manufacturers
Integrated circuit design companies
Market position

PDF Solutions is a secular leader in yield analytics software and services for the semiconductor industry.

Demand drivers
Medium cyclicality

Demand is linked to semiconductor manufacturing cycles and capital spending trends.

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