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PagerDuty, Inc (PD) Fair Value & Analysis

Technology · US · Market cap $654M

PI PagerDuty, Inc logo PagerDuty, Inc PD · US
Price$11.69
Fair Value$15.97
Upside+36.6%
Quality69/100
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Healthy Growth
Highly profitable · 38.6% net margin
High debt · generates free cash flow
Ranks above peers (9/13)
Wide moat 70/100
Evidence: High Range $11.97 – $21.17 Share as image

Fair value as of: Jul 19, 2026

From 22 valuation models · updated 22 days ago

Share price +16.4% over the past month.

A solid business, screening 37% undervalued on our models.

What matters now

  • The price is below even our cautious bear case ($11.97). The market is more pessimistic than our downside scenario.
  • Solid quality (69/100) at a price below fair value, the discount is the argument here, not the business quality.
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Price vs Fair Value (5 years)

$47.49 $5.73 Fair Value $15.97 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 19, 2026.

How to read this chart

60‑month range $5.73 – $47.49 · fair‑value band $11.97 – $21.17 · the $11.69 price screens below the $15.97 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 19, 2026.

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Analysis

PagerDuty, Inc (PD) currently trades at $11.69, while our model-based Fair Value estimate is $15.97, implying the stock looks roughly 36.6% undervalued today. The Quality Score stands at 69/100 (solid quality), in the Technology sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, PagerDuty, Inc generated revenue of $494M at a net margin of 38.6%. Revenue grew 1.0% year over year. It earns a return on equity of 94.6%. Net debt stands at $176M. Fundamentals as of Jul 19, 2026

Our scenario range runs from $11.97 (bear case) to $21.17 (bull case); at $11.69, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. Analysts expect earnings well below the last reported figure (earnings in transition, for example expiring patents or contracts); a fair value that looks fair on trailing earnings may then be too optimistic. The share trades about 35% below its 52-week high and 105% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -27% fair-value upside, at 37%, PD screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Growth DCF $14.91 $28.66 $51.11 80
Residual Income $10.23 $12.31 $55.52 76
Rev-Margin DCF $4.41 $6.83 $10.23 74
All 22 models by family
DCF Models
FCF DCF $15.67 $26.78 $53.92 38
Owner Earnings $27.09 $55.42 $105.81 31
5Y Revenue Exit $4.41 $6.43 $8.95 39
5Y EBITDA Exit $5.45 $8.74 $13.15 41
5Y P/E Exit $25.15 $54.20 $90.77 38
10Y Revenue Exit $8.25 $12.14 $16.25 36
10Y EBITDA Exit $8.93 $13.85 $20.94 37
10Y P/E Exit $21.43 $46.09 $86.99 35
Earnings-Based
Graham-Dodd $15.33 $98.75 $138.09 54
Lynch FV $28.64 $40.91 $53.19 50
PEG = 1.0 $28.64 $40.91 $53.19 46
Dividend Discount
Gordon GGM $22.58 $40.68 $56.00 70
DDM Multi-Stage $22.58 $37.16 $43.46 61
Multiples
P/E Multiple $33.81 $45.09 $56.36 63
P/S Multiple $11.97 $15.97 $19.96 58
P/B Multiple $7.40 $9.86 $12.33 55
EV/EBITDA $0.3400 $1.14 $1.94 54
Asset-Based
NCAV (Graham) $1.64 $2.20 $3.29 50
Growth DCF
Growth DCF $14.91 $28.66 $51.11 80
Rev-Margin DCF $4.41 $6.83 $10.23 74
Economic Profit
Residual Income $10.23 $12.31 $55.52 76
Growth Earnings
Growth-Adj P/E $39.55 $56.49 $73.44 68

Widest divergence: Growth Earnings ($56.49) versus Asset-Based ($2.20). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) $494M
Revenue growth (YoY) +1.0%
Net margin 38.6%
Return on equity 94.6%
Free cash flow $112M FY2026
P/E ratio 4.1
More key figures
Operating margin 7.9%
EPS (TTM) $2.07
Net debt $176M FY2026

Figures from reported company fundamentals · as of Jul 19, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 69/100

Of which business quality 65 · Market factors (momentum, volatility) 39

Profitability 81
Margins and returns on capital today
Quality Growth 70
Are margins and returns improving?
Cashflow 71
Earnings quality: real cash, not paper profit
Fin. Strength 25
Balance sheet, leverage, solvency risk
Investment 86
Disciplined investing over empire-building
Low Volatility 33
Calm price path (market factor)
Momentum 50
Price trend over the last 3–12 months (market factor)
52W Momentum 26
Distance to the 52-week high (market factor)
Net Issuance 68
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

PagerDuty, Inc. engages in the operation of a digital operations management platform in the United States and internationally. The company collects data and digital signals from virtually any software-enabled system or device and leverages artificial intelligence and powerful machine learning to correlate, process, predict, and remediate incident.

Full company description

PagerDuty, Inc. engages in the operation of a digital operations management platform in the United States and internationally. The company collects data and digital signals from virtually any software-enabled system or device and leverages artificial intelligence and powerful machine learning to correlate, process, predict, and remediate incident. Its platform includes PagerDuty Incident Management that provides a real-time view status of a digital service; AIOps that applies machine learning to correlate and automate the identification of incidents from billions of events; automation offers centralized design time and run time environment for orchestrating automated workflows; customer service operations, which is offered to orchestrate, automate, and scale responses to customer issues; and artificial intelligence offers generative AI capabilities for the PagerDuty operations cloud platform . The company serves various industries, including software and technology, telecommunications, retail, travel and hospitality, media and entertainment, and financial services. PagerDuty, Inc. was founded in 2009 and is headquartered in San Francisco, California.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

PagerDuty, Inc reported revenue of $493M in FY2026 versus $281M in FY2022, a compound +15.0%/yr. Reported net income was $174M in FY2026.

Growth Quality 100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2026)
$493M
Latest YoY
+5.4%
Avg. growth/yr (3Y)
+9.9%
Avg. growth/yr (5Y)
+18.2%
Avg. growth/yr (8Y)
+25.6%
Revenue +15.0%/yr
FY22 $281M
FY23 $371M
FY24 $431M
FY25 $467M
FY26 $493M
Net income
FY22 −$107M
FY23 −$129M
FY24 −$81.8M
FY25 −$42.7M
FY26 $174M

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Cite: Fair Value Calculator (2026). "PagerDuty, Inc Fair Value". https://www.fairvalue-calculator.com/stock/PD

Earlier news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Software - Application · 709 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 69 · Top 25%
Fair Value upside +37% · Top 25%
Return on equity (TTM) 95% · Top 25%
Return on assets 2% · Above median
Net margin (TTM) 39% · Top 25%
Operating margin (TTM) 8% · Above median
Revenue growth 1% · Below median
Debt / equity 1.56× · Higher than 75% of peers

Valuation Multiples vs Software - Application median · lower = cheaper

P/E (TTM) 4.1× · Cheaper than 75% of peers
P/B 2.58× · Pricier than median
P/S (TTM) 1.33× · Cheaper than median
P/FCF 5.8× · Cheaper than median
EV/EBITDA 20.6× · Pricier than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 82 · sector 0
FUTURE 5 · sector 38
PAST 100 · sector 13
HEALTH 22 · sector 98
DIVIDEND 0 · sector 28

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Software - Application stocks, each showing price versus our Fair Value estimate (as of Jul 19, 2026).

Stock Price Fair Value vs Fair Value
SAP SE SAPS C$12.69 C$16.26 +28%
Shopify Inc SHOP C$173.23 C$20.54 -88%
Uber Technologies, Inc UBER $72.67 $51.11 -30%
Salesforce, Inc CRM $170.77 $182.10 +7%
ServiceNow, Inc NOW $107.71 $33.12 -69%
Cadence Design Systems, Inc CDNS $384.17 $80.41 -79%
Snowflake Inc SNOW $271.87 $34.04 -87%
Adobe Inc ADBE $230.61 $379.48 +65%
Automatic Data Processing, Inc ADP $241.92 $177.51 -27%
Intuit Inc INTU $291.09 $258.69 -11%

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Frequently asked questions

Is PagerDuty, Inc (PD) overvalued or undervalued?
As of Jul 19, 2026, our model estimates a fair value of $15.97 versus a price of $11.69, about +37% (undervalued).
What is the fair value of PD?
Our model-based fair value for PagerDuty, Inc is $15.97 (as of Jul 19, 2026), built from audited fundamentals. The current price is $11.69.
What is the quality score of PD?
PagerDuty, Inc has a Quality Score of 69/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of PagerDuty, Inc (PD)?
PagerDuty, Inc reported trailing-twelve-month revenue of about $494M (latest available figure, as of Jul 19, 2026).
What is the net profit margin of PD?
The net profit margin of PagerDuty, Inc is about 38.6%, meaning it keeps roughly 38.6% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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