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Side-by-side financial comparison of DHT Holdings, Inc. (DHT) and PubMatic, Inc. (PUBM). Click either name above to swap in a different company.

DHT Holdings, Inc. is the larger business by last-quarter revenue ($107.3M vs $80.0M, roughly 1.3× PubMatic, Inc.). On growth, PubMatic, Inc. posted the faster year-over-year revenue change (-6.4% vs -24.5%).

DHT Holdings, Inc. is an independent international crude oil tanker operator that owns and manages a fleet of very large crude carriers. It offers marine transportation services for crude oil across major global trade routes, serving clients including leading oil producers, refineries, and commodity trading enterprises worldwide.

PubMatic, Inc. develops and implements online advertising software and strategies for the digital publishing and advertising industry. PubMatic's sell-side, real-time programmatic ad transaction advertising software puts publishers of websites, videos, and mobile apps into contact with ad buyers by using automated systems, while allowing users to opt-out of having their personal information collected on internet searches. PubMatic has a number of offices in countries around the world.

DHT vs PUBM — Head-to-Head

Bigger by revenue
DHT
DHT
1.3× larger
DHT
$107.3M
$80.0M
PUBM
Growing faster (revenue YoY)
PUBM
PUBM
+18.1% gap
PUBM
-6.4%
-24.5%
DHT

Income Statement — Q3 FY2025 vs Q4 FY2025

Metric
DHT
DHT
PUBM
PUBM
Revenue
$107.3M
$80.0M
Net Profit
$44.8M
Gross Margin
68.2%
Operating Margin
44.2%
10.6%
Net Margin
41.7%
Revenue YoY
-24.5%
-6.4%
Net Profit YoY
27.3%
EPS (diluted)
$0.28
$0.14

Green = leading value per metric. Periods may differ when fiscal calendars don't align.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.

Revenue
DHT
DHT
PUBM
PUBM
Q4 25
$80.0M
Q3 25
$107.3M
$68.0M
Q2 25
$71.1M
Q1 25
$63.8M
Q4 24
$85.5M
Q3 24
$142.1M
$71.8M
Q2 24
$67.3M
Q1 24
$66.7M
Net Profit
DHT
DHT
PUBM
PUBM
Q4 25
Q3 25
$44.8M
$-6.5M
Q2 25
$-5.2M
Q1 25
$-9.5M
Q4 24
Q3 24
$35.2M
$-912.0K
Q2 24
$2.0M
Q1 24
$-2.5M
Gross Margin
DHT
DHT
PUBM
PUBM
Q4 25
68.2%
Q3 25
62.6%
Q2 25
62.6%
Q1 25
59.9%
Q4 24
70.8%
Q3 24
64.5%
Q2 24
62.6%
Q1 24
61.9%
Operating Margin
DHT
DHT
PUBM
PUBM
Q4 25
10.6%
Q3 25
44.2%
-12.4%
Q2 25
-7.7%
Q1 25
-18.6%
Q4 24
17.3%
Q3 24
29.7%
-1.9%
Q2 24
-5.9%
Q1 24
-8.3%
Net Margin
DHT
DHT
PUBM
PUBM
Q4 25
Q3 25
41.7%
-9.5%
Q2 25
-7.3%
Q1 25
-14.9%
Q4 24
Q3 24
24.8%
-1.3%
Q2 24
2.9%
Q1 24
-3.7%
EPS (diluted)
DHT
DHT
PUBM
PUBM
Q4 25
$0.14
Q3 25
$0.28
$-0.14
Q2 25
$-0.11
Q1 25
$-0.20
Q4 24
$0.26
Q3 24
$0.22
$-0.02
Q2 24
$0.04
Q1 24
$-0.05

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
DHT
DHT
PUBM
PUBM
Cash + ST InvestmentsLiquidity on hand
$81.3M
$145.5M
Total DebtLower is stronger
Stockholders' EquityBook value
$1.1B
$262.6M
Total Assets
$1.4B
$680.2M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
DHT
DHT
PUBM
PUBM
Q4 25
$145.5M
Q3 25
$81.3M
$136.5M
Q2 25
$90.5M
Q1 25
$101.8M
Q4 24
$100.5M
Q3 24
$73.8M
$78.9M
Q2 24
$73.5M
Q1 24
$80.2M
Stockholders' Equity
DHT
DHT
PUBM
PUBM
Q4 25
$262.6M
Q3 25
$1.1B
$245.1M
Q2 25
$243.3M
Q1 25
$275.6M
Q4 24
$277.3M
Q3 24
$1.0B
$263.2M
Q2 24
$282.7M
Q1 24
$288.7M
Total Assets
DHT
DHT
PUBM
PUBM
Q4 25
$680.2M
Q3 25
$1.4B
$676.2M
Q2 25
$675.2M
Q1 25
$668.6M
Q4 24
$739.5M
Q3 24
$1.5B
$689.1M
Q2 24
$673.1M
Q1 24
$626.2M

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
DHT
DHT
PUBM
PUBM
Operating Cash FlowLast quarter
$60.9M
$18.2M
Free Cash FlowOCF − Capex
$11.3M
FCF MarginFCF / Revenue
14.1%
Capex IntensityCapex / Revenue
8.6%
Cash ConversionOCF / Net Profit
1.36×
TTM Free Cash FlowTrailing 4 quarters
$66.7M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
DHT
DHT
PUBM
PUBM
Q4 25
$18.2M
Q3 25
$60.9M
$32.4M
Q2 25
$14.9M
Q1 25
$15.6M
Q4 24
$18.0M
Q3 24
$80.1M
$19.1M
Q2 24
$11.9M
Q1 24
$24.3M
Free Cash Flow
DHT
DHT
PUBM
PUBM
Q4 25
$11.3M
Q3 25
$27.7M
Q2 25
$13.6M
Q1 25
$14.2M
Q4 24
$13.7M
Q3 24
$7.4M
Q2 24
$11.2M
Q1 24
$23.5M
FCF Margin
DHT
DHT
PUBM
PUBM
Q4 25
14.1%
Q3 25
40.8%
Q2 25
19.1%
Q1 25
22.2%
Q4 24
16.1%
Q3 24
10.3%
Q2 24
16.7%
Q1 24
35.2%
Capex Intensity
DHT
DHT
PUBM
PUBM
Q4 25
8.6%
Q3 25
6.9%
Q2 25
1.9%
Q1 25
2.3%
Q4 24
5.1%
Q3 24
16.3%
Q2 24
1.1%
Q1 24
1.2%
Cash Conversion
DHT
DHT
PUBM
PUBM
Q4 25
Q3 25
1.36×
Q2 25
Q1 25
Q4 24
Q3 24
2.28×
Q2 24
6.06×
Q1 24

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

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