Procore Technologies Inc. Common Stock (PCOR)

FairStock Score: 48/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I look for businesses that earn real money and sell at sensible prices. Procore sells cloud software for construction teams. Revenue has grown from $950.0M in fiscal 2023 to $1.2B in fiscal 2024 and $1.3B in fiscal 2025, according to filed figures. Yet the company lost $189.7M, $106.0M, and $100.8M in those years. The latest filed quarter, fiscal Q2 2026 ended 2026-06-30, was a turn: revenue $375.2M, net income $16.9M, diluted EPS $0.11, and a 4.51% margin. Still, fiscal Q1 2026 lost $9.1M, and fiscal Q2 2025 lost $21.1M, so one good quarter does not prove durable profitability. Free cash flow is real: $279.8M trailing, a 3.3% FCF yield by FairStock's calculation. The balance sheet looks sound, with debt-to-equity 0.05 and an Altman Z-Score of 4.73. But the price at the 2026-10-13 close of $56.19 is not cheap: P/B is 6.67, EV/EBITDA is 105.40, P/E is negative at -216.12, ROE is -3.12%, and ROCE is -1.51%. FairStock Score is 48/100, and its Lynch category is none because of losses in each of the last four years. I see a growing business with recent progress, but not yet the consistent earning power or margin of safety I demand. The market is paying a high price for a hoped-for future; proof must come from continuing profits and cash generation.

In plain English: Procore makes cloud software that helps construction companies manage projects. The business is growing sales and recently had a profitable quarter, but it has lost money over the past few years, so it is not yet consistently profitable. Compared with its profits and cash flow, the current share price looks expensive.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer