PSV head coach Phillip Cocu defended his team's performance after they were dumped out of Europe courtesy of a 0-0 draw at home to Rostov in the Champions League.
The Eredivisie champions end their campaign bottom of Group D with just two points, eight short of the total which took them to the last 16 in 2015/16.
Rostov clung on for the point they needed in Eindhoven to qualify for the Europa League after Gaston Pereiro and Bart Ramselaar missed good chances late in the game.
Cocu was pleased with his side's display, but said earlier results in the group cost them.
"This is a disappointment. The team has really done everything possible. They played a good game," he told a news conference.
"That there is no [positive] result does not mean that the players have played a bad match."
The 46-year-old said the 2-2 draw in Rostov and the 1-0 defeat at home to Atletico Madrid earlier in the group confirmed his side's exit from Europe.
"We did not have the level of last year in the Champions League. We came up short.
"I cannot blame the team. They have given everything to the last minute. It was just not there."