Forensic Analysis · Technology / Software · as of Jun 27, 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.
D · Weak — demands caution
Forensic grade
Distress
Financial health
-0.1
Altman Z-score
Clean
Earnings quality
3
Forensic signals
-6.3%
ROE
$6.3B
Market cap
PROCORE TECHNOLOGIES, INC. earns a D (Weak — demands caution) forensic quality grade, and its Altman Z-score is -0.1, placing it in the Distress zone. 3 forensic signals were flagged in its latest SEC filings, led by return on invested capital.
What the filings flag
-11%Return on invested capital.Return on invested capital is -11% and rising from -25% — well below its ~10% cost of capital, so reinvested dollars may be destroying value, not building it.
+3.4%/yrShare-count dilution.Diluted share count changed +10% over the last 3 years to FY2025 (+3.4%/yr). The count is GROWING — existing holders are being diluted. That's ~3.4% 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 ~10%.
18% of revStock-based comp load.Stock-based compensation ran 18% of revenue and 84% of free cash flow in FY2025 — about $1.59 per diluted share. Heavy — a large slice of 'free cash flow' is really being paid out in stock, so the true owner cash per share is well below the headline.
Key fundamentals
Net Margin-7.6%
Free Cash Flow$282.2M
Latest Revenue$1.32B
Return on Equity-8.0%
Revenue Growth YoY+14.8%
Go deeper — free with an account
The forensic grade and screens above are free — no account needed. An account adds the full interactive deep-dive on PROCORE TECHNOLOGIES, INC.:
🔒The written investment read — what the numbers mean, in plain English
🔒Ask anything about PCOR's filings — AI Q&A across the 10-K, 10-Qs & 8-Ks
🔒Interactive valuation — reverse-DCF sliders, Monte Carlo & scenario stress
🔒Calibrated 12-month price forecast, with the math shown