MASS Stock Analysis: 908 Devices | NASDAQ
Medical Devices | NASDAQ, USA | Market Cap: 401m USD | 12M Return: 68.2% | US65443P1021 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 3.82M
Qual. Beats: 0
Rev. Trend: 90.1%
Qual. Beats: 0
Warnings
Tailwinds
Seasonality 5.7 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.
908 Devices Inc. (MASS) designs and manufactures handheld mass spectrometry and Fourier Transform Infrared (FTIR) devices used in field-based health and safety applications. Its product portfolio includes the MX908 (a battery-powered mass spectrometer for analyzing unknown solids, liquids, vapors, and aerosols), the XplorIR (a handheld FTIR gas/vapor identifier), the ThreatID and ProtectIR (portable FTIR analyzers for chemical hazard identification), and the VipIR (a 3-in-1 analyzer combining FTIR, Raman spectroscopy, and proprietary smart spectral processing). The company is headquartered in Burlington, Massachusetts, was incorporated in 2012, and is listed on NASDAQ following its December 2020 IPO.
The business model centers on selling purpose-built, portable analytical instruments to customers such as military and defense agencies, law enforcement, hazmat teams, and industrial safety personnel, replacing or supplementing traditional laboratory-based spectrometers with field-deployable alternatives. 908 Devices generates revenue across the United States, Europe, the Middle East, Africa, Asia Pacific, and the rest of the Americas, and is classified within the GICS Health Care Equipment sub-industry despite its products also serving the defense and public safety markets.
- Government and defense contracts drive MX908 device revenue
- Federal stimulus funding boosts counterterrorism and hazmat detection budgets
- Competition from Agilent and Bruker pressures handheld mass spec margins
| Net Income: -34.5m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.00 > 0.02 and ΔFCF/TA 15.52 > 1.0 |
| NWC/Revenue: 135.8% < 20% (prev 203.2%; Δ -67.43% < -1%) |
| CFO/TA 0.01 > 3% & CFO 1.37m > Net Income -34.5m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 2.67 > 1.5 & < 3 |
| Outstanding Shares: last quarter (37.7m) vs 12m ago 5.16% < -2% |
| Gross Margin: 49.79% > 18% (prev 49.64%; Δ 0.15% > 0.5%) |
| Asset Turnover: 31.26% > 50% (prev 30.33%; Δ 0.93% > 0%) |
| Interest Coverage Ratio: error (cannot be calculated; needs correct EBIT TTM and Interest Expense TTM) |
| A: 0.42 (Total Current Assets 132.0m - Total Current Liabilities 49.4m) / Total Assets 197.5m |
| B: -1.25 (Retained Earnings -247.2m / Total Assets 197.5m) |
| C: -0.18 (EBIT TTM -34.5m / Avg Total Assets 194.6m) |
| D: 1.79 (Book Value of Equity 126.8m / Total Liabilities 70.8m) |
| Altman-Z'' = -0.65 = B |
| DSRI: 1.80 (Receivables 11.7m/6.21m, Revenue 60.8m/58.2m) |
| GMI: 1.00 (GM 49.64% / 49.79%) |
| AQI: 1.46 (AQ_t 0.29 / AQ_t-1 0.20) |
| SGI: 1.05 (Revenue 60.8m / 58.2m) |
| TATA: -0.18 (NI -34.5m - CFO 1.37m) / TA 197.5m) |
| Beneish M = -2.08 (Cap -4..+1) = BB |
As of September 18, 2026, the stock is trading at USD 10.98 with a total of 689,783 shares traded. Over the past week, the price has changed by +17.43%, over one month by +7.75%, over three months by +27.97% and over the past year by +68.15%.
Current recommended Stop Loss: 10.30 (which is 6.2% or 1.3 ATR below the current price).
908 Devices has received a consensus analysts rating of 4.50. Therefore, it is recommended to buy MASS.
- StrongBuy: 3
- Buy: 0
- Hold: 1
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 13 | 18.4% |
P/S = 6.5832
P/B = 3.2003
Revenue TTM = 60.8m USD
EBIT TTM = -34.5m USD
EBITDA TTM = -29.8m USD
Long Term Debt = 3.58m USD (estimated: total debt 4.30m - short term 716k)
Short Term Debt = 716k USD (from shortTermDebt, last quarter)
Debt = 4.30m USD (from shortLongTermDebtTotal, last quarter) (leases 4.30m already included)
Net Debt = -97.2m USD (calculated: Debt 4.30m - CCE 101.5m)
Enterprise Value = 303.3m USD (400.5m + Debt 4.30m - CCE 101.5m)
Interest Coverage Ratio = unknown (Ebit TTM -34.5m / Interest Expense TTM 0.0)
EV/FCF = 613.9x (Enterprise Value 303.3m / FCF TTM 494k)
FCF Yield = 0.16% (FCF TTM 494k / Enterprise Value 303.3m)
FCF Margin = 0.81% (FCF TTM 494k / Revenue TTM 60.8m)
Net Margin = -56.68% (Net Income TTM -34.5m / Revenue TTM 60.8m)
Gross Margin = 49.79% ((Revenue TTM 60.8m - Cost of Revenue TTM 30.5m) / Revenue TTM)
Gross Margin QoQ = 51.90% (prev 47.66%)
Tobins Q-Ratio = 1.54 (Enterprise Value 303.3m / Total Assets 197.5m)
Interest Expense / Debt = 0.0% (Interest Expense 0.0 / Debt 4.30m)
Taxrate = 21.0% (US federal default 21%)
NOPAT = -27.2m (EBIT -34.5m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 2.67 (Total Current Assets 132.0m / Total Current Liabilities 49.4m)
Debt / Equity = 0.03 (Debt 4.30m / totalStockholderEquity, last quarter 126.8m)
Debt / EBITDA = 3.27 (negative EBITDA) (Net Debt -97.2m / EBITDA -29.8m)
Debt / FCF = -196.8 (out of range, set to none) (Net Debt -97.2m / FCF TTM 494k)
Total Stockholder Equity = 135.2m (last 4 quarters mean from totalStockholderEquity)
RoA = -17.72% (Net Income -34.5m / Total Assets 197.5m)
RoE = -25.50% (Net Income TTM -34.5m / Total Stockholder Equity 135.2m)
RoCE = -24.83% (EBIT -34.5m / Capital Employed (Equity 135.2m + L.T.Debt 3.58m))
RoIC = -18.68% (negative operating profit) (NOPAT -27.2m / Invested Capital 145.8m)
WACC = 6.93% (E(400.5m)/V(404.8m) * Re(7.0%) + D(4.30m)/V(404.8m) * Rd(0.0%) * (1-Tc(0.21)))
Discount Rate = 7.0% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 91.31 | Cagr: 6.55%
[DCF] Terminal Value 75.44% ; FCFF base≈494k ; Y1≈496k ; Y5≈525k
[DCF] Fair Price = 2.55 (EV 8.17m - Net Debt -97.2m = Equity 105.4m / Shares 41.3m; r=8.35% [WACC [floored]]; 5y FCF grow 0.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.35 | # QB: 0
Revenue Correlation: 90.06 | Revenue CAGR: 9.82% | SUE: 0.38 | # QB: 0
EPS current Quarter (2026-09-30): EPS=-0.10 | Chg30d=-25.00% | Revisions=+0% | Analysts=3
EPS current Year (2026-12-31): EPS=-0.33 | Chg30d=+9.17% | Revisions=+25% | GrowthEPS=-56.6% | GrowthRev=+23.2%
EPS next Year (2027-12-31): EPS=-0.30 | Chg30d=-4.64% | Revisions=+25% | GrowthEPS=+9.1% | GrowthRev=+19.4%
[Analyst] Revisions Ratio: +29% (up=3, down=1)