(GKOS) Glaukos - Overview
Sector: Healthcare | Industry: Medical Devices | Exchange: NYSE (USA) | Market Cap: 7.062m USD | Total Return: 18.6% in 12m
Avg Turnover: 119M
Qual. Beats: 0
Rev. Trend: 98.8%
Qual. Beats: 8
Warnings
High Debt while negative Cash Flow
Interest Coverage Ratio -18.7 is critical
Altman Z'' -5.67 < 1.0 - financial distress zone
Choppy Below Avwap Earnings
Tailwinds
No distinct edge detected
Glaukos Corporation (NYSE: GKOS) is an ophthalmic medical technology and pharmaceutical company specializing in treatments for glaucoma, corneal disorders, and retinal diseases. Its core product portfolio includes the iStent series of micro-bypass stents and the iDose TR procedural pharmaceutical therapy, both designed to manage intraocular pressure. The company also develops the iLink cross-linking system for keratoconus and the ILution platform for transdermal drug delivery.
The company operates within the Micro-Invasive Glaucoma Surgery (MIGS) sector, a market characterized by a shift toward surgical interventions that reduce patient reliance on daily topical eye drops. Glaukos utilizes a hybrid business model that combines medical device hardware with long-acting drug delivery systems to address chronic ocular conditions. Its commercial strategy relies on a direct sales force targeting ambulatory surgery centers and specialized physician practices.
For more detailed financial metrics and valuation analysis, investors may find it useful to consult ValueRay.
- Commercial launch of iDose TR drives significant procedural pharmaceutical revenue growth
- Expansion of iStent infinite market access increases penetration in refractory glaucoma
- Favorable Medicare reimbursement updates determine surgical glaucoma hardware pricing margins
- Clinical trial progression for retinal XR platform influences long-term valuation premiums
- International market expansion reduces geographic revenue concentration and regulatory risk exposure
| Net Income: -189.3m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.02 > 0.02 and ΔFCF/TA 3.44 > 1.0 |
| NWC/Revenue: 71.89% < 20% (prev 92.95%; Δ -21.07% < -1%) |
| CFO/TA -0.01 > 3% & CFO -8.79m > Net Income -189.3m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 5.43 > 1.5 & < 3 |
| Outstanding Shares: last quarter (58.0m) vs 12m ago 2.45% < -2% |
| Gross Margin: 78.08% > 18% (prev 0.76%; Δ 7.73k% > 0.5%) |
| Asset Turnover: 59.30% > 50% (prev 41.87%; Δ 17.43% > 0%) |
| Interest Coverage Ratio: -18.69 > 6 (EBITDA TTM -40.0m / Interest Expense TTM 4.60m) |
| A: 0.44 (Total Current Assets 485.8m - Total Current Liabilities 89.4m) / Total Assets 893.3m |
| B: -1.07 (Retained Earnings -952.9m / Total Assets 893.3m) |
| C: -0.09 (EBIT TTM -85.9m / Avg Total Assets 929.8m) |
| D: -4.27 (Book Value of Equity -950.2m / Total Liabilities 222.4m) |
| Altman-Z'' = -5.67 = D |
| DSRI: 1.23 (Receivables 119.7m/71.5m, Revenue 551.3m/404.5m) |
| GMI: 0.97 (GM 78.08% / 75.75%) |
| AQI: 0.69 (AQ_t 0.25 / AQ_t-1 0.36) |
| SGI: 1.36 (Revenue 551.3m / 404.5m) |
| TATA: -0.20 (NI -189.3m - CFO -8.79m) / TA 893.3m) |
| Beneish M = -3.00 (Cap -4..+1) = A |
As of May 27, 2026, the stock is trading at USD 114.97 with a total of 2,705,677 shares traded.
Over the past week, the price has changed by -19.14%,
over one month by -5.82%,
over three months by -5.32% and
over the past year by +18.56%.
Glaukos has received a consensus analysts rating of 4.27. Therefore, it is recommended to buy GKOS.
- StrongBuy: 9
- Buy: 3
- Hold: 2
- Sell: 0
- StrongSell: 1
| Analysts Target Price | 154.5 | 34.4% |
P/E Forward = 2000.0
P/S = 12.8078
P/B = 10.5251
P/EG = 1.64
Revenue TTM = 551.3m USD
EBIT TTM = -85.9m USD
EBITDA TTM = -40.0m USD
Long Term Debt = unknown (none)
Short Term Debt = unknown (none)
Debt = 103.1m USD (from shortLongTermDebtTotal, last quarter) (leases 103.1m already included)
Net Debt = -173.6m USD (calculated: Debt 103.1m - CCE 276.7m)
Enterprise Value = 6.89b USD (7.06b + Debt 103.1m - CCE 276.7m)
Interest Coverage Ratio = -18.69 (Ebit TTM -85.9m / Interest Expense TTM 4.60m)
EV/FCF = -372.7x (Enterprise Value 6.89b / FCF TTM -18.5m)
FCF Yield = -0.27% (FCF TTM -18.5m / Enterprise Value 6.89b)
FCF Margin = -3.35% (FCF TTM -18.5m / Revenue TTM 551.3m)
Net Margin = -34.34% (Net Income TTM -189.3m / Revenue TTM 551.3m)
Gross Margin = 78.08% ((Revenue TTM 551.3m - Cost of Revenue TTM 120.8m) / Revenue TTM)
Gross Margin QoQ = 77.86% (prev 77.80%)
Tobins Q-Ratio = 7.71 (Enterprise Value 6.89b / Total Assets 893.3m)
Interest Expense / Debt = 4.46% (Interest Expense 4.60m / Debt 103.1m)
Taxrate = 21.0% (US default 21%)
NOPAT = -67.9m (EBIT -85.9m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 5.43 (Total Current Assets 485.8m / Total Current Liabilities 89.4m)
Debt / Equity = 0.15 (Debt 103.1m / totalStockholderEquity, last quarter 670.9m)
Debt / EBITDA = 4.34 (negative EBITDA) (Net Debt -173.6m / EBITDA -40.0m)
Debt / FCF = 9.40 (negative FCF - burning cash) (Net Debt -173.6m / FCF TTM -18.5m)
Total Stockholder Equity = 715.4m (last 4 quarters mean from totalStockholderEquity)
RoA = -20.36% (Net Income -189.3m / Total Assets 893.3m)
RoE = -11.35% (Net Income TTM -189.3m / Total Stockholder Equity 1.67b)
RoCE = -10.69% (EBIT -85.9m / Capital Employed (Total Assets 893.3m - Current Liab 89.4m))
RoIC = -12.87% (negative operating profit) (NOPAT -67.9m / Invested Capital 527.2m)
WACC = 9.30% (E(7.06b)/V(7.16b) * Re(9.38%) + D(103.1m)/V(7.16b) * Rd(4.46%) * (1-Tc(0.21)))
Discount Rate = 9.38% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 100.00 | Cagr: 7.92%
[DCF] Fair Price = unknown (Cash Flow -18.5m)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.36 | # QB: 0
Revenue Correlation: 98.78 | Revenue CAGR: 25.47% | SUE: 4.0 | # QB: 8
EPS current Quarter (2026-06-30): EPS=-0.21 | Chg30d=-1.43% | Revisions=-20% | Analysts=13
EPS next Quarter (2026-09-30): EPS=-0.13 | Chg30d=-39.10% | Revisions=N/A | Analysts=13
EPS current Year (2026-12-31): EPS=-0.51 | Chg30d=+5.46% | Revisions=+53% | GrowthEPS=+42.9% | GrowthRev=+24.3%
EPS next Year (2027-12-31): EPS=0.48 | Chg30d=+11.00% | Revisions=+29% | GrowthEPS=+193.2% | GrowthRev=+26.2%
[Analyst] Revisions Ratio: +53%