Overview Dividends

(PI) Impinj - Ratings and Ratios

Exchange: NASDAQ • Country: United States • Currency: USD • Type: Common Stock • ISIN: US4532041096

Endpoint ICs, Readers, Gateways, Software

PI EPS (Earnings per Share)

EPS Growth (3Y CAGR): 13.44%
EPS Trend (3Y Correlation): 42.7%

PI Revenue

Revenue Growth (3Y CAGR): 8.58%
Revenue Trend (3Y Correlation): 48.0%

Risk via 10d forecast
Volatility	70.8%
Value at Risk 5%th	102%
Relative Tail Risk	-12.90%

Reward TTM
Sharpe Ratio	-0.01
Alpha	-45.11

Character TTM
Hurst Exponent	0.645
Beta	2.168
Beta Downside	1.901

Drawdowns 3y
Max DD	73.79%
Mean DD	29.45%
Median DD	27.29%

Description: PI Impinj November 08, 2025

Impinj, Inc. (NASDAQ:PI) operates a global cloud-connectivity platform that wirelessly links physical items to digital applications. Its solution stack includes ultra-small “radio-on-a-chip” endpoint ICs that embed unique identifiers, reader ICs, readers, gateways, and a software/algorithm layer that enables partners to power, read, write, authenticate, and engage those tags for use-cases such as retail self-checkout, loss prevention, and supply-chain visibility. The company serves a breadth of verticals-including retail, logistics, automotive, aviation, banking, data centers, healthcare, and industrial manufacturing-through OEMs, system integrators, value-added resellers, and software vendors.

Key recent metrics show FY 2023 revenue of roughly $260 million, a gross margin hovering near 70 %, and a 15 % year-over-year increase in recurring subscription revenue from its cloud services. Impinj’s growth is underpinned by macro trends: accelerating RFID adoption driven by e-commerce fulfillment, tighter inventory-tracking regulations in food and pharma, and broader IoT spending that is forecast to exceed $1.5 trillion by 2026. The company’s inventory turnover ratio of ~4.5× and a cash-conversion cycle of ~45 days suggest efficient working-capital management, but the business remains sensitive to semiconductor supply constraints and cyclical OEM demand.

For a deeper, data-driven view of Impinj’s valuation dynamics and scenario analysis, you may find the free tools on ValueRay worth exploring.

PI Stock Overview

Market Cap in USD	4,326m
Sub-Industry	Semiconductors
IPO / Inception	2016-07-21
Return 12m vs S&P 500	-28.3%
Analyst Rating	4.63 of 5

PI Dividends

Currently no dividends paid

PI Growth Ratios

CAGR 3y	8.81%
CAGR/Max DD Calmar Ratio	0.12
CAGR/Mean DD Pain Ratio	0.30
Current Volume	499.6k
Average Volume	499.6k

Piotroski VR‑10 (Strict, 0-10) 4.0

Net Income (-12.4m TTM) > 0 and > 6% of Revenue (6% = 21.6m TTM)

FCFTA 0.08 (>2.0%) and ΔFCFTA -13.41pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)

NWC/Revenue 61.14% (prev -0.58%; Δ 61.72pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)

CFO/TA 0.11 (>3.0%) and CFO 56.2m > Net Income -12.4m (YES >=105%, WARN >=100%)

Current Ratio 2.67 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)

Outstanding Shares last Quarter (29.3m) change vs 12m ago -1.31% (target <= -2.0% for YES)

Gross Margin 52.21% (prev 50.99%; Δ 1.22pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)

Asset Turnover 72.47% (prev 72.45%; Δ 0.03pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)

Interest Coverage Ratio -2.99 (EBITDA TTM 1.43m / Interest Expense TTM 4.38m) >= 6 (WARN >= 3)

Altman Z'' -1.20

(A) 0.43 = (Total Current Assets 351.8m - Total Current Liabilities 131.8m) / Total Assets 516.5m

(B) -0.77 = Retained Earnings (Balance) -399.0m / Total Assets 516.5m

(D) -1.23 = Book Value of Equity -396.6m / Total Liabilities 321.5m

Total Rating: -1.20 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 43.34

1. Piotroski 4.0pt = -1.0

2. FCF Yield 0.92% = 0.46

3. FCF Margin 11.33% = 2.83

4. Debt/Equity 1.47 = 1.50

5. Debt/Ebitda 165.0 = -2.50

6. ROIC - WACC (= -16.08)% = -12.50

7. RoE -7.16% = -1.19

8. Rev. Trend 48.04% = 3.60

9. EPS Trend 42.68% = 2.13

What is the price of PI shares?

As of November 18, 2025, the stock is trading at USD 144.49 with a total of 499,638 shares traded.
Over the past week, the price has changed by -9.98%, over one month by -28.27%, over three months by -12.82% and over the past year by -17.87%.

Is Impinj a good stock to buy?

No, based on ValueRay´s Fundamental Analyses, Impinj (NASDAQ:PI) is currently (November 2025) a stock to sell. It has a ValueRay Fundamental Rating of 43.34 and therefor a negative outlook according to the companies health.
Based on momentum, paid dividends and discounted-cash-flow analyses, the fair value of PI is around 129.42 USD . This means that PI is currently overvalued and has a potential downside of -10.43%.

Is PI a buy, sell or hold?

Impinj has received a consensus analysts rating of 4.63. Therefore, it is recommended to buy PI.

Strong Buy: 5
Buy: 3
Hold: 0
Sell: 0
Strong Sell: 0

What are the forecasts/targets for the PI price?

Issuer	Target	Up/Down from current
Wallstreet Target Price	241.1	66.9%
Analysts Target Price	241.1	66.9%
ValueRay Target Price	150.4	4.1%

PI Fundamental Data Overview November 17, 2025

Market Cap USD = 4.33b (4.33b USD * 1.0 USD.USD)
P/E Forward = 57.4713
P/S = 12.0237
P/B = 22.007
Beta = 1.481
Revenue TTM = 359.8m USD
EBIT TTM = -13.1m USD
EBITDA TTM = 1.43m USD
Long Term Debt = 183.8m USD (from longTermDebt, last quarter)
Short Term Debt = 100.5m USD (from shortTermDebt, last quarter)
Debt = 287.5m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 235.8m USD (from netDebt column, last quarter)
Enterprise Value = 4.42b USD (4.33b + Debt 287.5m - CCE 190.1m)
Interest Coverage Ratio = -2.99 (Ebit TTM -13.1m / Interest Expense TTM 4.38m)
FCF Yield = 0.92% (FCF TTM 40.8m / Enterprise Value 4.42b)
FCF Margin = 11.33% (FCF TTM 40.8m / Revenue TTM 359.8m)
Net Margin = -3.45% (Net Income TTM -12.4m / Revenue TTM 359.8m)
Gross Margin = 52.21% ((Revenue TTM 359.8m - Cost of Revenue TTM 172.0m) / Revenue TTM)
Gross Margin QoQ = 50.31% (prev 57.83%)
Tobins Q-Ratio = 8.57 (Enterprise Value 4.42b / Total Assets 516.5m)
Interest Expense / Debt = 0.39% (Interest Expense 1.12m / Debt 287.5m)
Taxrate = -0.69% (negative due to tax credits) (89.0k / -12.9m)
NOPAT = -13.2m (EBIT -13.1m * (1 - -0.69%)) [loss with tax shield] [negative tax rate / tax credits]
Current Ratio = 2.67 (Total Current Assets 351.8m / Total Current Liabilities 131.8m)
Debt / Equity = 1.47 (Debt 287.5m / totalStockholderEquity, last quarter 195.0m)
Debt / EBITDA = 165.0 (Net Debt 235.8m / EBITDA 1.43m)
Debt / FCF = 5.79 (Net Debt 235.8m / FCF TTM 40.8m)
Total Stockholder Equity = 173.3m (last 4 quarters mean from totalStockholderEquity)
RoA = -2.40% (Net Income -12.4m / Total Assets 516.5m)
RoE = -7.16% (Net Income TTM -12.4m / Total Stockholder Equity 173.3m)
RoCE = -3.67% (EBIT -13.1m / Capital Employed (Equity 173.3m + L.T.Debt 183.8m))
RoIC = -2.89% (negative operating profit) (NOPAT -13.2m / Invested Capital 456.3m)
WACC = 13.19% (E(4.33b)/V(4.61b) * Re(14.04%) + D(287.5m)/V(4.61b) * Rd(0.39%) * (1-Tc(-0.01)))
Discount Rate = 14.04% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 4.07%
[DCF Debug] Terminal Value 49.64% ; FCFE base≈65.1m ; Y1≈44.2m ; Y5≈21.7m
Fair Price DCF = 7.01 (DCF Value 211.0m / Shares Outstanding 30.1m; 5y FCF grow -37.48% → 3.0% )
EPS Correlation: 42.68 | EPS CAGR: 13.44% | SUE: 0.44 | # QB: 0
Revenue Correlation: 48.04 | Revenue CAGR: 8.58% | SUE: 1.21 | # QB: 3

Additional Sources for PI Stock

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