Procore Technologies
PCOR on NYSE. Procore sells construction management software to owners and contractors. Market value $8.2bn.
Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to December 2025.
We can't read total debt from the filing, so debt is left out.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
Nothing stands out yet.
See Technology stocks that passed both tests
This is not advice. Check the numbers below.
For every $100 of what the whole company costs, it produced $3.40 of spare cash in the past 12 months. A savings account pays about $4.
The filings do not give us enough to work this out.
The filings do not give us enough to work this out.
Quality score: 56 of 100. Price score: 18 of 100. Our list needs 70 on quality and 60 on price.
$54.18 a share, 42% above its 1-year low
Over the past year the price has ranged from $38.03 to $82.32.
Pays no dividend
Prices from Monday’s close (5 October).
Five years of cash, in billions
| Revenue | |||||
| Revenue | $515m | $720m | $950m | $1.2bn | $1.3bn |
| Operating margin | |||||
| Operating margin | -55.5% | -40.3% | -22.7% | -11.8% | -9.4% |
| Debt to equity | |||||
| Debt to equity | n/a | n/a | n/a | n/a | n/a |
| Shares outstanding | |||||
| Shares outstanding | 0.14bn | 0.14bn | 0.15bn | 0.16bn | 0.15bn |
Health checks
- Free cash flow positive4 of 5 years
- Accounting looks honest (Beneish)Not enough data
- Financial strength (Piotroski)3 of 8 checks we could run
- Profit backed by cash (accruals)No
- DebtUnknown
- Revenue growth, five yearsStrong, 26.6% a year
- Buying back its own sharesNo, 10% more shares since 2021
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $375 million last quarter, up 16% on a year ago.
- Profit: $17 million, after a loss of $21 million a year ago.
- It loses 5 cents on each $1 of sales, compared with 14 cents a year earlier.
- Spare cash over the past 12 months: $280 million, up from $81 million.
- 2% more shares than a year ago. Each share owns a bit less of the company.
- Sales grew on a year ago in each of the last 4 quarters.
| Quarter to | Amount |
|---|---|
| September 2024 | $296m |
| December 2024 | $302m |
| March 2025 | $311m |
| June 2025 | $324m |
| September 2025 | $339m |
| December 2025 | $349m |
| March 2026 | $359m |
| June 2026 | $375m |
| Quarter to | Amount |
|---|---|
| September 2024 | -$26m |
| December 2024 | -$62m |
| March 2025 | -$33m |
| June 2025 | -$21m |
| September 2025 | -$9m |
| December 2025 | -$38m |
| March 2026 | -$9m |
| June 2026 | $17m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 24 February 2026
- Next quarterly (estimated, 10-Q)
- 30 October 2026
Who owns it
1 long-term investor we follow owns it, down from 2 last quarter. 401 funds in all.
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| Gotham Asset ManagementJoel Greenblatt | $770,480 | <0.1% | Cut |
Sold out this quarter
- ShawSpring PartnersDennis HongSold out
Largest holders overall
- ICONIQ Capital$594m
- Morgan Stanley$464mAdded
- Assenagon Asset Management$357mAdded
- BlackRock$300m
- Alliancebernstein L.P.$290mCut
- Vanguard Portfolio Management$283mAdded
- Price T Rowe Associates$269mAdded
- Vanguard Capital Management$219m
- UBS Group AG$211mAdded
- Capital World Investors$141mCut
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
2 investors own more than 5%.
- William J.G. GriffithPassive investorat least 11.8%−4.3 pts(filed with 28 related holders)Since 31 December 2025
- Morgan StanleyPassive investorat least 6.3%(filed with 1 related holder)Since 30 September 2025
- AllianceBernstein L.P.Passive investorSold down below 5%Since 30 June 2026
- The Vanguard GroupPassive investorSold down below 5%Since 13 March 2026
| Holder | Stake | Since | |
|---|---|---|---|
William J.G. Griffith Passive investor | at least 11.8%−4.3 pts (filed with 28 related holders) | 31 December 2025 | |
Morgan Stanley Passive investor | at least 6.3% (filed with 1 related holder) | 30 September 2025 | |
AllianceBernstein L.P. Passive investor | Sold down below 5% | 30 June 2026 | |
The Vanguard Group Passive investor | Sold down below 5% | 13 March 2026 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
No insider bought shares on the open market in the last 12 months. 9 sold $80m, $34m of it under preset trading plans.
- Courtemanche Craig F. Jr.DirectorSoldunder a preset trading plan
- Date
- 10 September 2026
- Shares
- 56,122
- Price
- $53.48
- Value
- $3m
- O CONNOR KEVIN JDirectorSoldunder a preset trading plan
- Date
- 2 September 2026
- Shares
- 7,692
- Price
- $59.96
- Value
- $461,219
- O CONNOR KEVIN JDirectorSoldunder a preset trading plan
- Date
- 1 September 2026
- Shares
- 7,692
- Price
- $62.03
- Value
- $477,127
- Singer Benjamin CChief Legal Officer; SecretarySoldunder a preset trading plan
- Date
- 21 August 2026
- Shares
- 3,943
- Price
- $63.35
- Value
- $249,789
- Steele ElisaDirectorSoldunder a preset trading plan
- Date
- 19 August 2026
- Shares
- 1,500
- Price
- $63.00
- Value
- $94,500
- Fleming William Fred JrSVP, Corporate ControllerSold
- Date
- 11 August 2026
- Shares
- 10,000
- Price
- $58.95
- Value
- $589,500
- Courtemanche Craig F. Jr.DirectorSoldunder a preset trading plan
- Date
- 10 August 2026
- Shares
- 56,122
- Price
- $57.11
- Value
- $3m
- O CONNOR KEVIN JDirectorSoldunder a preset trading plan
- Date
- 4 August 2026
- Shares
- 7,692
- Price
- $54.98
- Value
- $422,906
- O CONNOR KEVIN JDirectorSoldunder a preset trading plan
- Date
- 3 August 2026
- Shares
- 15,386
- Price
- $54.92
- Value
- $845,076
- Courtemanche Craig F. Jr.DirectorSoldunder a preset trading plan
- Date
- 10 July 2026
- Shares
- 56,122
- Price
- $43.90
- Value
- $2m
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 10 September 2026 | Courtemanche Craig F. Jr. Director | Sold under a preset trading plan | 56,122 | $53.48 | $3m |
| 2 September 2026 | O CONNOR KEVIN J Director | Sold under a preset trading plan | 7,692 | $59.96 | $461,219 |
| 1 September 2026 | O CONNOR KEVIN J Director | Sold under a preset trading plan | 7,692 | $62.03 | $477,127 |
| 21 August 2026 | Singer Benjamin C Chief Legal Officer; Secretary | Sold under a preset trading plan | 3,943 | $63.35 | $249,789 |
| 19 August 2026 | Steele Elisa Director | Sold under a preset trading plan | 1,500 | $63.00 | $94,500 |
| 11 August 2026 | Fleming William Fred Jr SVP, Corporate Controller | Sold | 10,000 | $58.95 | $589,500 |
| 10 August 2026 | Courtemanche Craig F. Jr. Director | Sold under a preset trading plan | 56,122 | $57.11 | $3m |
| 4 August 2026 | O CONNOR KEVIN J Director | Sold under a preset trading plan | 7,692 | $54.98 | $422,906 |
| 3 August 2026 | O CONNOR KEVIN J Director | Sold under a preset trading plan | 15,386 | $54.92 | $845,076 |
| 10 July 2026 | Courtemanche Craig F. Jr. Director | Sold under a preset trading plan | 56,122 | $43.90 | $2m |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
Warning signs in its filings
Problems the company itself reported to the SEC, in its own words.
None of the warning signs we check for were found.
We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.
We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 24 Feb 2026, plus the 10-Q filed 31 Jul 2026 and 9 later 8-Ks.
A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.
What could go wrong
Cheap for a reason is the question the numbers cannot answer.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.