Is the business good?
How good a business is PCOR?
Procore Technologies, Inc. earns −13% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
−13%
Return on invested capital · cost of capital 9.0% · 22 points below what the capital costs: growth destroys value
- Operating margin
- −7.6%
Operating margin · Software - Application median 8.2% · 12 months to Q1 2026
- Share count, year on year
- +0.64%
Share count, year on year · flat: no meaningful dilution
- R&D as % of revenue
- 26%
R&D as % of revenue
| Year | Operating margin |
|---|---|
| FY2020 | −15% |
| FY2021 | −56% |
| FY2022 | −40% |
| FY2023 | −23% |
| FY2024 | −12% |
| FY2025 | −9.4% |
Details›
- Gross margin12 months to Q1 2026
- 80%
- Operating margin12 months to Q1 2026
- −7.6%
- Net margin12 months to Q1 2026
- −5.6%
- Free cash flow margin
- 21%
- R&D as % of revenue
- 26%
- Revenue, trailing twelve months
- $1.37B
- Free cash flow, trailing twelve months
- $294M
- Net income, trailing twelve months
- −$77M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- −13%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.
Software - Application
Ranks #85 of 90 by Smart Score