LASR Stock Analysis: nLIGHT | NASDAQ
Semiconductors | NASDAQ, USA | Market Cap: 1.693m USD | 12M Return: 27.6% | US65487K1007 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 35.3M
Qual. Beats: 1
Rev. Trend: 79.5%
Qual. Beats: 6
Warnings
Tailwinds
Seasonality 8.4 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
nLIGHT, Inc. (LASR) designs, develops, manufactures, and sells semiconductor and fiber lasers used in aerospace and defense, industrial, and microfabrication applications. The company operates through two reportable segments: Laser Products and Advanced Development, with the Advanced Development segment focused on next-generation directed energy programs. Its product portfolio spans a range of power levels, wavelengths, and output fiber sizes, including fiber amplifiers and beam combination systems used in high-energy directed energy applications.
The company sells its products through a direct sales force in the United States, China, South Korea, and parts of Europe, while also using independent sales representatives and distributors across Asia, Australia, Europe, the Middle East, and South America. This mix of direct and indirect channels is common in the laser and photonics industry, where serving both defense primes and global industrial OEMs requires localized technical support.
Founded in 2000 and headquartered in Camas, Washington, nLIGHT was originally named nLight Photonics Corporation before adopting its current name in January 2016. The company completed its IPO in April 2018 and is classified within the GICS Information Technology sector, specifically in the Electronic Equipment & Instruments sub-industry, reflecting its position as a capital equipment vendor rather than a chip designer or contract manufacturer.
- Defense directed energy wins accelerate aerospace segment revenue
- China revenue exposure creates geopolitical and competitive risks
- Industrial laser pricing pressure compresses gross margins versus IPG and Coherent
| Net Income: -12.5m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.10 > 0.02 and ΔFCF/TA 16.25 > 1.0 |
| NWC/Revenue: 126.4% < 20% (prev 84.51%; Δ 41.86% < -1%) |
| CFO/TA 0.12 > 3% & CFO 62.8m > Net Income -12.5m |
| Net Debt (-280.9m) to EBITDA (8.65m): -32.49 < 3 |
| Current Ratio: 8.17 > 1.5 & < 3 |
| Outstanding Shares: last quarter (57.0m) vs 12m ago 14.93% < -2% |
| Gross Margin: 31.52% > 18% (prev 21.18%; Δ 10.35% > 0.5%) |
| Asset Turnover: 76.45% > 50% (prev 73.47%; Δ 2.98% > 0%) |
| Interest Coverage Ratio: -4.97 > 6 (EBIT TTM -9.83m / Interest Expense TTM 1.98m) |
| A: 0.76 (Total Current Assets 447.4m - Total Current Liabilities 54.7m) / Total Assets 517.6m |
| B: -0.67 (Retained Earnings -349.3m / Total Assets 517.6m) |
| C: -0.02 (EBIT TTM -9.83m / Avg Total Assets 406.4m) |
| D: 5.66 (Book Value of Equity 439.9m / Total Liabilities 77.7m) |
| Altman-Z'' = 8.56 = AAA |
| DSRI: 0.74 (Receivables 46.8m/44.4m, Revenue 310.7m/216.9m) |
| GMI: 0.67 (GM 21.18% / 31.52%) |
| AQI: 0.94 (AQ_t 0.05 / AQ_t-1 0.06) |
| SGI: 1.43 (Revenue 310.7m / 216.9m) |
| TATA: -0.15 (NI -12.5m - CFO 62.8m) / TA 517.6m) |
| Beneish M = -3.28 (Cap -4..+1) = AA |
As of November 07, 2026, the stock is trading at USD 38.02 with a total of 2,638,178 shares traded. Over the past week, the price has changed by +2.40%, over one month by -5.02%, over three months by -49.60% and over the past year by +27.63%.
Current recommended Stop Loss: 35.10 (which is 7.7% or 1.3 ATR below the current price).
nLIGHT has received a consensus analysts rating of 4.89. Therefore, it is recommended to buy LASR.
- StrongBuy: 8
- Buy: 1
- Hold: 0
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 77.1 | 102.9% |
P/E Forward = 54.6448
P/S = 5.4478
P/B = 4.7907
P/EG = 1.7806
Revenue TTM = 310.7m USD
EBIT TTM = -9.83m USD
EBITDA TTM = 8.65m USD
Long Term Debt = 12.1m USD (estimated: total debt 14.8m - short term 2.79m)
Short Term Debt = 2.79m USD (from shortTermDebt, last quarter)
Debt = 14.8m USD (from shortLongTermDebtTotal, last quarter) (leases 14.8m already included)
Net Debt = -280.9m USD (calculated: Debt 14.8m - CCE 295.8m)
Enterprise Value = 1.41b USD (1.69b + Debt 14.8m - CCE 295.8m)
Interest Coverage Ratio = -4.97 (Ebit TTM -9.83m / Interest Expense TTM 1.98m)
EV/FCF = 28.58x (Enterprise Value 1.41b / FCF TTM 49.4m)
FCF Yield = 3.50% (FCF TTM 49.4m / Enterprise Value 1.41b)
FCF Margin = 15.90% (FCF TTM 49.4m / Revenue TTM 310.7m)
Net Margin = -4.02% (Net Income TTM -12.5m / Revenue TTM 310.7m)
Gross Margin = 31.52% ((Revenue TTM 310.7m - Cost of Revenue TTM 212.8m) / Revenue TTM)
Gross Margin QoQ = 31.15% (prev 33.07%)
Tobins Q-Ratio = 2.73 (Enterprise Value 1.41b / Total Assets 517.6m)
Interest Expense / Debt = 13.31% (Interest Expense 1.98m / Debt 14.8m)
Taxrate = 21.0% (US federal default 21%)
NOPAT = -7.76m (EBIT -9.83m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 8.17 (Total Current Assets 447.4m / Total Current Liabilities 54.7m)
Debt / Equity = 0.03 (Debt 14.8m / totalStockholderEquity, last quarter 439.9m)
Debt / EBITDA = -32.49 (Net Debt -280.9m / EBITDA 8.65m)
Debt / FCF = -5.69 (Net Debt -280.9m / FCF TTM 49.4m)
Total Stockholder Equity = 328.6m (last 4 quarters mean from totalStockholderEquity)
RoA = -3.07% (Net Income -12.5m / Total Assets 517.6m)
RoE = -3.80% (Net Income TTM -12.5m / Total Stockholder Equity 328.6m)
RoCE = -2.89% (EBIT -9.83m / Capital Employed (Equity 328.6m + L.T.Debt 12.1m))
RoIC = -1.72% (negative operating profit) (NOPAT -7.76m / Invested Capital 450.1m)
WACC = 16.44% (E(1.69b)/V(1.71b) * Re(16.49%) + D(14.8m)/V(1.71b) * Rd(13.31%) * (1-Tc(0.21)))
Discount Rate = 16.49% (= CAPM, Blume Beta Adj.) -> capped to 12.54%
Shares (quarterly) Correlation: 82.71 | Cagr: 8.69%
[DCF] Terminal Value 52.38% ; FCFF base≈49.4m ; Y1≈49.6m ; Y5≈52.5m
[DCF] Fair Price = 10.84 (EV 344.7m - Net Debt -280.9m = Equity 625.6m / Shares 57.7m; r=16.44% [WACC]; 5y FCF grow 0.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 1.15 | # QB: 1
Revenue Correlation: 79.53 | Revenue CAGR: 14.64% | SUE: 1.49 | # QB: 6
EPS current Year (2026-12-31): EPS=0.50 | Chg30d=+0.44% | Revisions=+0% | GrowthEPS=+107.4% | GrowthRev=+17.1%
EPS next Year (2027-12-31): EPS=0.65 | Chg30d=+2.98% | Revisions=+25% | GrowthEPS=+30.3% | GrowthRev=+15.0%
[Analyst] Revisions Ratio: +17% (up=2, down=1)