PagerDuty
PD on NYSE. PagerDuty sells software that helps enterprises respond to digital outages. Market value $1.2bn.
Price checks use the past 12 months to July 2026. Quality checks use five annual reports, the latest for the year to January 2026.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
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 $9.58 of spare cash in the past 12 months. A savings account pays about $4.
You pay 44.0 years of operating profit for the business. The average large US company costs around 18.
Each dollar kept in the business earns -26 cents a year. Above 10 is good.
Quality score: 49 of 100. Price score: 66 of 100. Our list needs 70 on quality and 60 on price.
$15.59 a share, 174% above its 1-year low
Over the past year the price has ranged from $5.70 to $16.77.
Pays no dividend
Prices from Monday’s close (5 October).
Five years of cash, in billions
| Revenue | |||||
| Revenue | $281m | $371m | $431m | $467m | $493m |
| Operating margin | |||||
| Operating margin | -36.1% | -34.9% | -22.3% | -12.8% | 1.2% |
| Debt to equity | |||||
| Debt to equity | 1.12 | 1.23 | 2.85 | 3.73 | 1.66 |
| Shares outstanding | |||||
| Shares outstanding | 0.09bn | 0.09bn | 0.09bn | 0.09bn | 0.08bn |
Health checks
- Free cash flow positive4 of 5 years
- Accounting looks honest (Beneish)Warning signs
- Financial strength (Piotroski)7 of 9
- Profit backed by cash (accruals)Yes
- Debt1.66× equity
- Revenue growth, five yearsStrong, 18.2% a year
- Buying back its own sharesYes, 13% fewer since 2022
The quarter to July 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $124 million last quarter, up 1% on a year ago.
- Profit: $8 million, down 19% on a year ago.
- It keeps 6 cents of each $1 of sales as operating profit, after losing 6 cents a year earlier.
- Spare cash over the past 12 months: $117 million, up from $107 million.
- 16% fewer shares than a year ago. Each share owns a bit more of the company.
- Sales grew on a year ago in each of the last 4 quarters.
| Quarter to | Amount |
|---|---|
| October 2024 | $119m |
| January 2025 | $121m |
| April 2025 | $120m |
| July 2025 | $123m |
| October 2025 | $125m |
| January 2026 | $125m |
| April 2026 | $121m |
| July 2026 | $124m |
| Quarter to | Amount |
|---|---|
| October 2024 | -$6m |
| January 2025 | -$9m |
| April 2025 | -$7m |
| July 2025 | $10m |
| October 2025 | $162m |
| January 2026 | $9m |
| April 2026 | $5m |
| July 2026 | $8m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 12 March 2026
- Next quarterly (estimated, 10-Q)
- 26 November 2026
Who owns it
2 long-term investors we follow own it, up from 1 last quarter. 256 funds in all.
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| LSV Asset ManagementJosef Lakonishok | $16m | <0.1% | New |
| Royce & AssociatesChuck Royce | $8m | <0.1% | Added |
Largest holders overall
- BlackRock$89mCut
- Vanguard Portfolio Management$55mCut
- D. E. Shaw$41mAdded
- Lynrock Lake LP$36mAdded
- AQR Capital Management$31mAdded
- Vanguard Capital Management$31mCut
- State Street$24m
- Geode Capital Management$22m
- Goldman Sachs Group$20mCut
- Qube Research & Technologies$19mCut
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
4 investors own more than 5%.
- BlackRock, Inc.Passive investor9.6%+1.5 ptsSince 30 June 2026
- Vanguard Portfolio ManagementPassive investor7.8%−1.1 ptsSince 30 June 2026
- D. E. Shaw & Co., L.P.Passive investorat least 5.2%(filed with 1 related holder)Since 5 May 2026
- THE GOLDMAN SACHS GROUP, INC.Passive investorat least 5.1%(filed with 1 related holder)Since 21 April 2026
- Vanguard Capital ManagementPassive investorSold down below 5%Since 30 June 2026
- ARK Investment Management LLCPassive investorSold down below 5%Since 28 February 2026
- The Vanguard GroupPassive investorSold down below 5%Since 13 March 2026
- RGM Capital, LLCPassive investorSold down below 5%Since 31 December 2025
| Holder | Stake | Since | |
|---|---|---|---|
BlackRock, Inc. Passive investor | 9.6%+1.5 pts | 30 June 2026 | |
Vanguard Portfolio Management Passive investor | 7.8%−1.1 pts | 30 June 2026 | |
D. E. Shaw & Co., L.P. Passive investor | at least 5.2% (filed with 1 related holder) | 5 May 2026 | |
THE GOLDMAN SACHS GROUP, INC. Passive investor | at least 5.1% (filed with 1 related holder) | 21 April 2026 | |
Vanguard Capital Management Passive investor | Sold down below 5% | 30 June 2026 | |
ARK Investment Management LLC Passive investor | Sold down below 5% | 28 February 2026 | |
The Vanguard Group Passive investor | Sold down below 5% | 13 March 2026 | |
RGM Capital, LLC Passive investor | Sold down below 5% | 31 December 2025 |
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. 2 sold $13m, $13m of it under preset trading plans.
- Tejada JenniferExecutive Chair, DirectorSoldunder a preset trading plan
- Date
- 30 September 2026
- Shares
- 107,000
- Price
- $15.11
- Value
- $2m
- Tejada JenniferExecutive Chair, DirectorSoldunder a preset trading plan
- Date
- 24 September 2026
- Shares
- 8,000
- Price
- $15.00
- Value
- $120,000
- Tejada JenniferExecutive Chair, DirectorSoldunder a preset trading plan
- Date
- 17 July 2026
- Shares
- 96,847
- Price
- $10.41
- Value
- $1m
- Tejada JenniferExecutive Chair, DirectorSoldunder a preset trading plan
- Date
- 16 July 2026
- Shares
- 302,100
- Price
- $10.70
- Value
- $3m
- Tejada JenniferExecutive Chair, DirectorSoldunder a preset trading plan
- Date
- 19 May 2026
- Shares
- 105,101
- Price
- $6.92
- Value
- $727,299
- Tejada JenniferExecutive Chair, DirectorSoldunder a preset trading plan
- Date
- 18 May 2026
- Shares
- 358,400
- Price
- $6.98
- Value
- $3m
- Solomon Dan AlexandruDirectorSoldunder a preset trading plan
- Date
- 30 December 2025
- Shares
- 266,667
- Price
- $13.35
- Value
- $4m
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 30 September 2026 | Tejada Jennifer Executive Chair, Director | Sold under a preset trading plan | 107,000 | $15.11 | $2m |
| 24 September 2026 | Tejada Jennifer Executive Chair, Director | Sold under a preset trading plan | 8,000 | $15.00 | $120,000 |
| 17 July 2026 | Tejada Jennifer Executive Chair, Director | Sold under a preset trading plan | 96,847 | $10.41 | $1m |
| 16 July 2026 | Tejada Jennifer Executive Chair, Director | Sold under a preset trading plan | 302,100 | $10.70 | $3m |
| 19 May 2026 | Tejada Jennifer Executive Chair, Director | Sold under a preset trading plan | 105,101 | $6.92 | $727,299 |
| 18 May 2026 | Tejada Jennifer Executive Chair, Director | Sold under a preset trading plan | 358,400 | $6.98 | $3m |
| 30 December 2025 | Solomon Dan Alexandru Director | Sold under a preset trading plan | 266,667 | $13.35 | $4m |
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 12 Mar 2026, plus the 10-Q filed 27 Aug 2026 and 6 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
- Its accounts show patterns that sometimes come before companies have to correct past results (Beneish score).
- It isn't cheap on profits: 44.0× operating profit.
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.