| Nov 25 | Feb 26 | May 26 | Aug 26 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Buy | — | — | — | — | — | — | — | — | — | — | — | — |
| Sell | — | 2 | 1 | 4 | 1 | 4 | 2 | 4 | 1 | 5 | 4 | — |
| total | individual payouts | |
|---|---|---|
| 2025 | ‡‡‡ |
|
| 2024 | ‡‡‡ |
|
| 2023 | ‡‡‡ |
|
| 2022 | ‡‡‡ |
|
| 2021 | ‡‡‡ |
|
| 2020 | ‡‡‡ |
|
| 2019 | ‡‡‡ |
|
| 2017 | ‡‡‡ |
|
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Cash | 295.43 | 318.92 | 278.76 | 286.23 |
| Receivables | 39.85 | 60.74 | 108.61 | 138.90 |
| Inventory | 41.99 | 57.68 | 63.56 | 59.31 |
| Other | — | — | — | — |
| 395.46 | 449.79 | 474.98 | 515.78 |
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Payables | 13.44 | 13.03 | 24.62 | 19.14 |
| ST’ Debt | — | — | — | — |
| Other | — | — | — | — |
| 74.01 | 75.13 | 101.28 | 102.33 |
| 10y | 5y | 3y | |
| Sales | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Cash Flow | ‡‡‡ | ‡‡‡ | ‡‡‡ |
| Earnings | ‡‡‡ | ‡‡‡ | ‡‡‡ |
| Book Value | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 150.57 | 185.61 | — | — |
—
|
| ’25 | 106.66 | 124.12 | 133.54 | 143.12 |
507.44
|
| ’24 | 85.62 | 95.69 | 96.67 | 105.50 |
383.48
|
| ’23 | 73.90 | 80.40 | 78.05 | 82.37 |
314.71
|
| ’22 | 67.68 | 72.69 | 71.27 | 71.23 |
282.86
|
| ’21 | 67.97 | 78.09 | 74.71 | 73.24 |
294.01
|
| ’20 | 55.34 | 31.56 | 64.83 | 73.23 |
224.96
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | (12.53) | 14.82 | — | — |
—
|
| ’25 | (18.52) | 6.98 | (10.09) | 6.84 |
(14.79)
|
| ’24 | (33.87) | (18.37) | (9.59) | 0.51 |
(61.32)
|
| ’23 | (30.76) | (8.16) | (8.17) | (10.66) |
(57.76)
|
| ’22 | 9.77 | (12.21) | (26.51) | (4.14) |
(33.08)
|
| ’21 | 4.18 | 7.39 | 17.79 | (4.65) |
24.71
|
| ’20 | (13.10) | (10.92) | (9.57) | 10.60 |
(22.99)
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | (16.48) | 12.09 | — | — |
—
|
| ’25 | (20.46) | (10.81) | (11.72) | 3.93 |
(39.06)
|
| ’24 | (34.84) | (20.48) | (11.04) | (1.23) |
(67.58)
|
| ’23 | (37.67) | (13.93) | (11.53) | (14.88) |
(78.01)
|
| ’22 | 3.23 | (21.57) | (32.55) | (12.30) |
(63.20)
|
| ’21 | (13.00) | (3.97) | 7.87 | (13.98) |
(23.07)
|
| ’20 | (13.88) | (13.65) | (10.85) | 8.46 |
(29.92)
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | (0.34) | (0.31) | — | — |
—
|
| ’25 | (0.32) | (0.34) | (0.28) | (2.32) |
(3.28)
|
| ’24 | (0.82) | (1.06) | (0.39) | (0.60) |
(2.77)
|
| ’23 | (0.72) | (0.68) | (0.63) | (0.75) |
(2.78)
|
| ’22 | 0.11 | (0.96) | (0.58) | (0.66) |
(2.09)
|
| ’21 | (0.36) | (0.38) | 0.13 | (0.47) |
(1.07)
|
| ’20 | (1.24) | (0.90) | (0.35) | (0.24) |
(2.70)
|
| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 33.33 | 42.48 | 74.75 | 73.16 | — | — | — |
Low Price
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | 64.49 | 86.53 | 153.50 | 163.71 | — | — | — |
High Price
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 783 | 907 | 995 | 1,094 | — | — | — |
Employees
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.36 | 0.35 | 0.39 | 0.46 | — | — | — |
Revenue/Emp
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 282.86 | 314.71 | 383.48 | 507.44 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 75.61% | 75.99% | 75.48% | 77.97% | — | — | — |
Gross Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (98.43) | (133.73) | (145.60) | (193.04) | ‡‡‡‡‡ | — | — |
EBT
|
| ‡‡‡‡‡ | ‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (34.80%) | (42.49%) | (37.97%) | (38.04%) | ‡‡‡ | ‡‡‡ | ‡‡‡ |
EBT Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (99.19) | (134.66) | (146.37) | (187.69) | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Net Income
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 38.05 | 37.67 | 36.60 | 39.36 | — | — | — |
Depreciation
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 5.96 | 6.50 | 7.27 | 8.87 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue/Sh
|
| ‡‡‡‡ | ‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ | (2.09) | (2.78) | (2.77) | (3.28) | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Earnings/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (0.70) | (1.19) | (1.16) | (0.26) | — | — | — |
Cash Flow/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (0.63) | (0.42) | (0.12) | (0.42) | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Capex/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (1.33) | (1.61) | (1.28) | (0.68) | — | — | — |
Free CF/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 11.17 | 9.53 | 14.54 | 11.47 | ‡‡‡‡‡ | — | — |
Book Value/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 47.44 | 48.43 | 52.76 | 57.19 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Shares
|
| ‡‡‡‡‡ | ‡‡‡ | ‡‡‡ | ‡‡‡‡‡ | ‡‡‡ | ‡‡‡ | 0.00 | 0.00 | 0.00 | 0.00 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ |
PE Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 7.36 | 11.86 | 20.63 | 12.73 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PS Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 3.93 | 8.08 | 10.31 | 9.84 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PB Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 7.36 | 12.05 | 19.98 | 12.31 | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ |
EV/Sales
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (32.96) | (48.60) | (113.36) | (159.92) | — | — | — |
EV/FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (33.08) | (57.76) | (61.32) | (14.79) | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Op' Cash Flow
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (30.11) | (20.25) | (6.26) | (24.27) | ‡‡‡‡‡ | ‡‡‡‡‡ | — |
Capex
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (63.20) | (78.01) | (67.58) | (39.06) | ‡‡‡‡‡ | — | — |
FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 371.50 | 321.45 | 374.67 | 373.71 | — | — | — |
Working Cap'
|
| — | — | — | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 353.57 | 353.31 | 69.46 | 68.11 | — | — | — |
Total Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.88 | 57.88 | (249.45) | (210.65) | — | — | — |
Net Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 530.01 | 461.77 | 766.93 | 656.16 | — | — | — |
Sh' Equity
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (9.67%) | (13.86%) | (15.29%) | (20.09%) | ‡‡‡‡‡ | — | — |
ROA
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (9.69%) | (15.48%) | (14.78%) | (28.00%) | — | — | — |
ROIC
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (17.76%) | (27.16%) | (23.83%) | (26.38%) | ‡‡‡‡‡ | — | — |
ROE
|
Glaukos Corporation (GKOS), a specialist in glaucoma treatments like the iStent platform, dazzles investors with robust revenue growth—up 13% CAGR to $383 million in 2024 and projected to hit $783 million by 2027—but this masks chronic cash burn, negative free cash flow, and elusive profitability. A devastating 2020 FDA warning letter triggered a gross margin plunge from 83.7% to 59.2%, exposing operational vulnerabilities that persist today with margins stuck at 75.5% and EPS deeply negative at -$2.77. Diluted shares have ballooned 60%, insiders are cashing out over $38 million with zero buys, and sky-high valuations (20x sales, 10x book) scream overoptimism amid eroding fundamentals.
The stock’s rollercoaster—from $154 highs in 2024 to recent pullbacks—reflects hype around revenue beats clashing with reality: ROIC at -14.8%, ROE at -23.8%, and net debt climbing. Analysts project an EPS turnaround to positive by 2027 and FCF inflection, fueling 19% average upside targets, but risks like regulatory hurdles, fierce competition from Alcon and J&J, and scaling costs loom large.
This contrarian take warns GKOS is no growth rocket but a high-beta gamble priced for perfection—one glitch could send it tumbling. Dive into the full analysis for the numbers that could make or break your bet on this glaucoma innovator.
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