PI Stock Analysis: Impinj | NASDAQ
Semiconductors | NASDAQ, USA | Market Cap: 3.989m USD | 12M Return: 28.2% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 56.4M
EPS Trend: 59.4%
Qual. Beats: 0
Rev. Trend: 84.0%
Qual. Beats: 0
Warnings
Tailwinds
No distinct edge detected
Seasonality 9.9 years of data
Average return per month, with how dependable it is below — did the month move the same way every year (high) or randomly (low). Above 60 is a pattern worth trusting; under 40 is noise.
Impinj, Inc. (NASDAQ: PI) is a Seattle-based technology company that operates a cloud-based connectivity platform across the Americas, Asia Pacific, Europe, the Middle East, and Africa. Founded in 2000 and listed on NASDAQ since July 2016, the company falls within the Information Technology sector and the Semiconductors sub-industry under the GICS classification. Its platform wirelessly links physical items to business and consumer applications, built on RAIN RFID technology that uses radio waves to identify and communicate with tagged objects without line-of-sight scanning.
The platform is structured in three layers: endpoint ICs (radio-on-a-chip tags that attach to and identify host items), systems products (reader ICs, readers, and gateways that power and communicate with the tags), and software that enables enterprise use cases such as package sortation, dock door monitoring, retail self-checkout, and loss prevention. Impinj sells primarily through original equipment manufacturers, systems integrators, value-added resellers, and independent software vendors, serving end markets that span retail, supply chain and logistics, automotive, aviation, healthcare, manufacturing, and food, among others.
- Retail RFID adoption accelerates for loss prevention mandates
- Endpoint IC shipment volumes drive endpoint revenue growth
- Supply chain and logistics demand lifts reader and gateway sales
- Gross margins expand on endpoint IC mix shift
| Net Income: -27.7m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.12 > 0.02 and ΔFCF/TA 2.94 > 1.0 |
| NWC/Revenue: 73.82% < 20% (prev 77.13%; Δ -3.31% < -1%) |
| CFO/TA 0.15 > 3% & CFO 73.9m > Net Income -27.7m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 9.20 > 1.5 & < 3 |
| Outstanding Shares: last quarter (30.3m) vs 12m ago 5.77% < -2% |
| Gross Margin: 52.33% > 18% (prev 51.57%; Δ 0.75% > 0.5%) |
| Asset Turnover: 73.51% > 50% (prev 75.76%; Δ -2.26% > 0%) |
| Interest Coverage Ratio: -7.06 > 6 (EBIT TTM -24.0m / Interest Expense TTM 3.40m) |
| A: 0.53 (Total Current Assets 299.0m - Total Current Liabilities 32.5m) / Total Assets 502.5m |
| B: -0.85 (Retained Earnings -425.4m / Total Assets 502.5m) |
| C: -0.05 (EBIT TTM -24.0m / Avg Total Assets 491.2m) |
| D: 0.68 (Book Value of Equity 203.9m / Total Liabilities 298.6m) |
| Altman-Z'' = 1.11 = BB |
| DSRI: 1.28 (Receivables 72.4m/57.1m, Revenue 361.0m/363.5m) |
| GMI: 0.99 (GM 51.57% / 52.33%) |
| AQI: 1.11 (AQ_t 0.27 / AQ_t-1 0.24) |
| SGI: 0.99 (Revenue 361.0m / 363.5m) |
| TATA: -0.20 (NI -27.7m - CFO 73.9m) / TA 502.5m) |
| Beneish M = -2.78 (Cap -4..+1) = A |
As of July 02, 2026, the stock is trading at USD 143.23 with a total of 420,148 shares traded. Over the past week, the price has changed by +12.21%, over one month by +0.66%, over three months by +40.88% and over the past year by +28.21%.
Current recommended Stop Loss: 133.70 (which is 6.7% or 1.2 ATR below the current price).
Impinj has received a consensus analysts rating of 4.63. Therefore, it is recommended to buy PI.
- StrongBuy: 5
- Buy: 3
- Hold: 0
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 175 | 22.2% |
P/E Forward = 62.5
P/S = 11.0486
P/B = 19.1145
Revenue TTM = 361.0m USD
EBIT TTM = -24.0m USD
EBITDA TTM = -8.63m USD
Long Term Debt = 241.5m USD (from longTermDebt, last quarter)
Short Term Debt = 1.52m USD (from shortTermDebt, last quarter)
Debt = 288.7m USD (from shortLongTermDebtTotal, last quarter) + Leases 23.6m
Net Debt = 156.8m USD (calculated: Debt 288.7m - CCE 131.8m)
Enterprise Value = 4.15b USD (3.99b + Debt 288.7m - CCE 131.8m)
Interest Coverage Ratio = -7.06 (Ebit TTM -24.0m / Interest Expense TTM 3.40m)
EV/FCF = 67.83x (Enterprise Value 4.15b / FCF TTM 61.1m)
FCF Yield = 1.47% (FCF TTM 61.1m / Enterprise Value 4.15b)
FCF Margin = 16.93% (FCF TTM 61.1m / Revenue TTM 361.0m)
Net Margin = -7.66% (Net Income TTM -27.7m / Revenue TTM 361.0m)
Gross Margin = 52.33% ((Revenue TTM 361.0m - Cost of Revenue TTM 172.1m) / Revenue TTM)
Gross Margin QoQ = 49.10% (prev 51.18%)
Tobins Q-Ratio = 8.25 (Enterprise Value 4.15b / Total Assets 502.5m)
Interest Expense / Debt = 1.18% (Interest Expense 3.40m / Debt 288.7m)
Taxrate = 21.0% (US federal default 21%)
NOPAT = -19.0m (EBIT -24.0m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 9.20 (Total Current Assets 299.0m / Total Current Liabilities 32.5m)
Debt / Equity = 1.42 (Debt 288.7m / totalStockholderEquity, last quarter 203.9m)
Debt / EBITDA = -18.17 (negative EBITDA) (Net Debt 156.8m / EBITDA -8.63m)
Debt / FCF = 2.57 (Net Debt 156.8m / FCF TTM 61.1m)
Total Stockholder Equity = 198.9m (last 4 quarters mean from totalStockholderEquity)
RoA = -5.63% (Net Income -27.7m / Total Assets 502.5m)
RoE = -13.90% (Net Income TTM -27.7m / Total Stockholder Equity 198.9m)
RoCE = -5.45% (EBIT -24.0m / Capital Employed (Equity 198.9m + L.T.Debt 241.5m))
RoIC = -4.18% (negative operating profit) (NOPAT -19.0m / Invested Capital 453.5m)
WACC = 14.92% (E(3.99b)/V(4.28b) * Re(15.93%) + D(288.7m)/V(4.28b) * Rd(1.18%) * (1-Tc(0.21)))
Discount Rate = 15.93% (= CAPM, Blume Beta Adj.) -> capped to 13.17%
Shares (quarterly) Correlation: 28.89 | Cagr: 5.09%
[DCF] Terminal Value 59.68% ; FCFF base≈54.4m ; Y1≈62.3m ; Y5≈91.7m
[DCF] Fair Price = 15.64 (EV 633.1m - Net Debt 156.8m = Equity 476.3m / Shares 30.5m; r=14.92% [WACC]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: 59.41 | EPS CAGR: 132.9% | SUE: -0.20 | # QB: 0
Revenue Correlation: 83.98 | Revenue CAGR: 7.58% | SUE: 0.83 | # QB: 0
EPS current Quarter (2026-09-30): EPS=-0.05 | Chg30d=+0.00% | Revisions=-33% | Analysts=6
EPS current Year (2026-12-31): EPS=1.88 | Chg30d=+0.13% | Revisions=+20% | GrowthEPS=-10.8% | GrowthRev=+3.4%
EPS next Year (2027-12-31): EPS=2.82 | Chg30d=+0.04% | Revisions=+20% | GrowthEPS=+49.9% | GrowthRev=+23.4%
[Analyst] Revisions Ratio: -33%