(LAES) SEALSQ - Overview
Stock: Semiconductors, Secure Elements, Post-Quantum Chips, PKI Services, IoT Security
| Risk 5d forecast | |
|---|---|
| Volatility | 121% |
| Relative Tail Risk | -15.3% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.46 |
| Alpha | -13.01 |
| Character TTM | |
|---|---|
| Beta | 2.286 |
| Beta Downside | 2.149 |
| Drawdowns 3y | |
|---|---|
| Max DD | 98.44% |
| CAGR/Max DD | -0.43 |
Description: LAES SEALSQ December 28, 2025
SEALSQ Corp (NASDAQ: LAES) is a Swiss-based semiconductor designer and provider that operates globally across North America, Europe, the Middle East, Africa, Asia-Pacific and Latin America. Through its subsidiaries it sells a portfolio that includes VaultIC secure elements, post-quantum and RISC-V chips, secure ARM platforms, smart-card reader ICs, and a suite of PKI and provisioning services (e.g., root-of-trust, zero-touch IoT onboarding, TLS certificates). Its end-to-end security solutions support device-to-cloud and device-to-device authentication, anti-counterfeiting, identity lifecycle management, and satellite IoT connectivity for verticals such as smart energy, EV charging, aerospace, medical devices and luxury goods.
Industry data shows the global IoT security market is projected to grow at a CAGR of roughly 23 % through 2028, driven by expanding smart-home deployments and regulatory pressure on data protection (source: IDC). Adoption of open-source RISC-V cores has accelerated, with shipments expected to exceed 1 billion units in 2025, offering a cost-effective alternative to traditional licensed architectures-an advantage for SEALSQ’s RISC-V offerings. Meanwhile, semiconductor supply-chain constraints remain a material risk, with wafer fab capacity utilization hovering near 90 % worldwide, potentially limiting the company’s ability to scale production without securing long-term fab agreements.
For a deeper quantitative assessment, you may find ValueRay’s analyst platform useful.
Piotroski VR‑10 (Strict, 0-10) 1.0
| Net Income: -50.0m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.22 > 0.02 and ΔFCF/TA -12.84 > 1.0 |
| NWC/Revenue: 324.8% < 20% (prev 24.23%; Δ 300.5% < -1%) |
| CFO/TA -0.20 > 3% & CFO -28.5m > Net Income -50.0m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 7.38 > 1.5 & < 3 |
| Outstanding Shares: last quarter (116.5m) vs 12m ago 676.5% < -2% |
| Gross Margin: 37.35% > 18% (prev 0.46%; Δ 3689 % > 0.5%) |
| Asset Turnover: 42.59% > 50% (prev 115.2%; Δ -72.63% > 0%) |
| Interest Coverage Ratio: -13.04 > 6 (EBITDA TTM -41.8m / Interest Expense TTM 3.32m) |
Altman Z'' -2.24
| A: 0.81 (Total Current Assets 132.9m - Total Current Liabilities 18.0m) / Total Assets 142.0m |
| B: -0.44 (Retained Earnings -61.9m / Total Assets 142.0m) |
| C: -0.52 (EBIT TTM -43.2m / Avg Total Assets 83.0m) |
| D: -2.50 (Book Value of Equity -59.7m / Total Liabilities 23.9m) |
| Altman-Z'' Score: -2.24 = D |
Beneish M -2.90
| DSRI: 1.42 (Receivables 6.87m/3.79m, Revenue 35.4m/27.7m) |
| GMI: 1.23 (GM 37.35% / 46.10%) |
| AQI: 0.19 (AQ_t 0.03 / AQ_t-1 0.18) |
| SGI: 1.27 (Revenue 35.4m / 27.7m) |
| TATA: -0.15 (NI -50.0m - CFO -28.5m) / TA 142.0m) |
| Beneish M-Score: -2.90 (Cap -4..+1) = A |
What is the price of LAES shares?
Over the past week, the price has changed by -18.52%, over one month by -19.08%, over three months by -46.50% and over the past year by -7.85%.
Is LAES a buy, sell or hold?
- StrongBuy: 0
- Buy: 1
- Hold: 0
- Sell: 0
- StrongSell: 0
What are the forecasts/targets for the LAES price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 7.5 | 113.1% |
| Analysts Target Price | 7.5 | 113.1% |
| ValueRay Target Price | 3.4 | -4% |
LAES Fundamental Data Overview February 04, 2026
P/B = 6.5424
Revenue TTM = 35.4m USD
EBIT TTM = -43.2m USD
EBITDA TTM = -41.8m USD
Long Term Debt = 3.53m USD (from longTermDebt, last quarter)
Short Term Debt = 2.28m USD (from shortTermDebt, last quarter)
Debt = 6.37m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -114.6m USD (from netDebt column, last quarter)
Enterprise Value = 611.8m USD (726.3m + Debt 6.37m - CCE 120.9m)
Interest Coverage Ratio = -13.04 (Ebit TTM -43.2m / Interest Expense TTM 3.32m)
EV/FCF = -19.46x (Enterprise Value 611.8m / FCF TTM -31.4m)
FCF Yield = -5.14% (FCF TTM -31.4m / Enterprise Value 611.8m)
FCF Margin = -88.87% (FCF TTM -31.4m / Revenue TTM 35.4m)
Net Margin = -141.3% (Net Income TTM -50.0m / Revenue TTM 35.4m)
Gross Margin = 37.35% ((Revenue TTM 35.4m - Cost of Revenue TTM 22.2m) / Revenue TTM)
Gross Margin QoQ = 33.70% (prev 45.42%)
Tobins Q-Ratio = 4.31 (Enterprise Value 611.8m / Total Assets 142.0m)
Interest Expense / Debt = 5.39% (Interest Expense 343.3k / Debt 6.37m)
Taxrate = 21.0% (US default 21%)
NOPAT = -34.2m (EBIT -43.2m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 7.38 (Total Current Assets 132.9m / Total Current Liabilities 18.0m)
Debt / Equity = 0.05 (Debt 6.37m / totalStockholderEquity, last quarter 118.1m)
Debt / EBITDA = 2.74 (negative EBITDA) (Net Debt -114.6m / EBITDA -41.8m)
Debt / FCF = 3.64 (negative FCF - burning cash) (Net Debt -114.6m / FCF TTM -31.4m)
Total Stockholder Equity = 51.7m (last 4 quarters mean from totalStockholderEquity)
RoA = -60.17% (Net Income -50.0m / Total Assets 142.0m)
RoE = -96.64% (Net Income TTM -50.0m / Total Stockholder Equity 51.7m)
RoCE = -78.29% (EBIT -43.2m / Capital Employed (Equity 51.7m + L.T.Debt 3.53m))
RoIC = -54.17% (negative operating profit) (NOPAT -34.2m / Invested Capital 63.1m)
WACC = 14.25% (E(726.3m)/V(732.7m) * Re(14.34%) + D(6.37m)/V(732.7m) * Rd(5.39%) * (1-Tc(0.21)))
Discount Rate = 14.34% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 174.9%
Fair Price DCF = unknown (Cash Flow -31.4m)
EPS Correlation: -12.59 | EPS CAGR: 0.0% | SUE: 0.0 | # QB: 0
Revenue Correlation: -36.89 | Revenue CAGR: -16.72% | SUE: N/A | # QB: 0
EPS next Year (2026-12-31): EPS=-0.06 | Chg30d=N/A | Revisions Net=+0 | Growth EPS=+66.7% | Growth Revenue=+94.9%