Forensic Analysis · Technology / Software · as of Aug 11, 2026

Procore Technologies, Inc. (PCOR)

A forensic read on Procore Technologies, Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

B · Sound & dependable

Forensic grade

Safe

Financial health

7.9

Distress distance

Clean

Earnings quality

Forensic signals

-217.5

P / E (ttm)

-8.0%

ROE

$8.8B

Market cap

0.00%

Dividend yield

14.8%

Revenue growth

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

Procore Technologies, Inc. earns a B (Sound & dependable) forensic quality grade, and its balance-sheet distress test reads 7.9, placing it in the Safe zone. 3 forensic signals were flagged in its latest SEC filings, led by return on invested capital.

What the filings flag

-11.2%

FY2025

Return on invested capital. Return on invested capital is -11.2% in the latest fiscal year and rising from -25% — well below its ~10% cost of capital, so reinvested dollars may be destroying value, not building it.

+3.2%/yr

FY2022–FY2025

Share-count dilution. Diluted share count changed +10% over the last 3 years to FY2025 (+3.2%/yr). The count is growing: more stock was issued than repurchased over this window, so aggregate results grew faster than their per-share equivalents. That's ~3.2% shaved off per-share growth every year — total profit has to grow that much just to keep earnings-per-share flat, and a stake held since FY2022 has been diluted ~9%.

18% of rev

FY2025

Stock-based comp load. Stock-based compensation ran 18% of revenue and 84% of free cash flow in FY2025 — about $1.59 per diluted share. The cost of it is not in the cash flow — no cash left the business — it is in the count, and there it has run at about 3.2% a year and is falling.

Key fundamentals

Latest Revenue$1.32B

Revenue Growth YoY+14.8%

Revenue CAGR (3yr)+22.5%

Net Margin-7.6%

Free Cash Flow$282.2M

Return on Equity-8.0%

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Data from SEC EDGAR public filings · metrics as of Aug 11, 2026. Forensic signals flag probability, not certainty.