| Nov 25 | Feb 26 | May 26 | Aug 26 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Buy | — | — | — | — | — | — | — | — | — | — | — | — |
| Sell | — | — | — | — | — | 2 | 4 | 2 | — | — | — | — |
| total | individual payouts | |
|---|---|---|
| 2022 | ‡‡‡ |
|
| 2021 | ‡‡‡ |
|
| 2020 | ‡‡‡ |
|
| 2019 | ‡‡‡ |
|
| 2017 | ‡‡‡ |
|
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Cash | 17.90 | 36.63 | 61.63 | 50.28 |
| Receivables | 13.12 | 11.85 | 15.78 | 15.24 |
| Inventory | 7.60 | 6.13 | 5.51 | 4.73 |
| Other | — | 7.07 | 6.03 | 4.95 |
| 39.83 | 62.84 | 91.81 | 79.29 |
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Payables | 4.95 | 5.94 | 5.32 | 4.85 |
| ST’ Debt | — | — | — | — |
| Other | 1.33 | 0.09 | 1.17 | 6.96 |
| 15.88 | 43.94 | 33.99 | 36.39 |
| 10y | 5y | 3y | |
| Sales | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Cash Flow | ‡‡‡ | ‡‡‡ | ‡‡‡ |
| Earnings | ‡‡‡ | ‡‡‡ | ‡‡‡ |
| Book Value | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 10.55 | 12.73 | — | — |
—
|
| ’25 | 10.54 | 8.45 | 11.96 | 8.37 |
39.32
|
| ’24 | 10.03 | 12.34 | 13.32 | 14.65 |
50.34
|
| ’23 | 10.76 | 10.46 | 10.60 | 8.58 |
40.39
|
| ’22 | 11.58 | 11.91 | 11.73 | 12.18 |
47.40
|
| ’21 | 11.68 | 9.91 | 10.89 | 13.20 |
45.67
|
| ’20 | 7.88 | 8.81 | 9.51 | 13.92 |
40.13
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | (0.81) | (4.33) | — | — |
—
|
| ’25 | (3.41) | (4.16) | (0.11) | (7.86) |
(15.54)
|
| ’24 | (3.11) | (3.08) | (6.46) | (1.59) |
(14.23)
|
| ’23 | (4.17) | (3.82) | (3.80) | (3.47) |
(15.26)
|
| ’22 | (2.28) | (9.15) | (4.17) | (2.08) |
(17.69)
|
| ’21 | (0.25) | (5.36) | (3.45) | (1.69) |
(10.75)
|
| ’20 | (3.87) | (2.89) | 0.48 | 1.86 |
(4.42)
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | (2.11) | (8.14) | — | — |
—
|
| ’25 | (3.91) | (4.89) | (0.22) | (7.95) |
(16.98)
|
| ’24 | (3.35) | (3.14) | (6.47) | (2.08) |
(15.04)
|
| ’23 | (4.39) | (3.95) | (3.93) | (3.94) |
(16.21)
|
| ’22 | (2.81) | (9.23) | (4.20) | (2.28) |
(18.52)
|
| ’21 | (0.59) | (5.68) | (3.65) | (1.86) |
(11.78)
|
| ’20 | (4.02) | (2.94) | 0.39 | 1.61 |
(4.96)
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | (0.02) | 0.00 | — | — |
—
|
| ’25 | (0.02) | (0.03) | 0.02 | 0.04 |
0.01
|
| ’24 | (0.27) | (0.05) | (0.03) | (0.01) |
(0.33)
|
| ’23 | (0.03) | (0.07) | (0.02) | (0.06) |
(0.18)
|
| ’22 | (0.02) | (0.06) | (0.05) | (0.07) |
(0.21)
|
| ’21 | (0.05) | (0.04) | (0.02) | (0.04) |
(0.15)
|
| ’20 | (0.04) | (0.01) | (0.01) | 0.02 |
(0.05)
|
| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ‡‡‡‡ | ‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | 0.96 | 0.94 | 0.56 | 0.71 | — | — | — |
Low Price
|
| ‡‡‡ | ‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ | 4.47 | 2.50 | 2.82 | 4.16 | — | — | — |
High Price
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 177 | 144 | 181 | 145 | — | — | — |
Employees
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.27 | 0.28 | 0.28 | 0.27 | — | — | — |
Revenue/Emp
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 47.40 | 40.39 | 50.34 | 39.32 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 31.31% | 38.23% | 28.15% | 29.23% | — | — | — |
Gross Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (19.18) | (19.59) | (43.71) | 2.81 | — | — | — |
EBT
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (40.47%) | (48.50%) | (86.83%) | 7.16% | ‡‡‡ | ‡‡‡ | ‡‡‡ |
EBT Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (19.33) | (19.75) | (43.88) | 2.61 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Net Income
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.72 | 0.61 | 0.64 | 0.83 | — | — | — |
Depreciation
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.52 | 0.37 | 0.38 | 0.23 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (0.21) | (0.18) | (0.33) | 0.01 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Earnings/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (0.19) | (0.14) | (0.11) | (0.09) | — | — | — |
Cash Flow/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (0.01) | (0.01) | (0.01) | (0.01) | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Capex/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (0.20) | (0.15) | (0.11) | (0.10) | — | — | — |
Free CF/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.26 | 0.27 | 0.18 | 0.42 | — | — | — |
Book Value/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 91.43 | 108.98 | 132.88 | 171.25 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Shares
|
| ‡‡‡ | ‡‡‡ | ‡‡‡ | ‡‡‡ | ‡‡‡ | ‡‡‡ | 0.00 | 0.00 | 0.00 | 234.00 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
PE Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 2.33 | 5.53 | 3.59 | 10.19 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PS Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 4.61 | 7.57 | 7.76 | 6.25 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PB Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 2.14 | 5.16 | 2.92 | 8.69 | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ |
EV/Sales
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (5.47) | (12.85) | (9.76) | (20.14) | — | — | — |
EV/FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (17.69) | (15.26) | (14.23) | (15.54) | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Op' Cash Flow
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (0.83) | (0.95) | (0.82) | (1.44) | ‡‡‡‡‡ | — | — |
Capex
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (18.52) | (16.21) | (15.04) | (16.98) | — | — | — |
FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 16.40 | 23.95 | 18.90 | 57.82 | — | — | — |
Working Cap'
|
| — | — | — | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 3.36 | — | — | — | — | — | — |
Total Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (9.28) | (17.90) | (36.63) | (61.63) | — | — | — |
Net Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 23.99 | 29.51 | 23.28 | 71.67 | — | — | — |
Sh' Equity
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (36.20%) | (42.44%) | (73.08%) | 2.85% | — | — | — |
ROA
|
| ‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (92.60%) | (92.50%) | 0.00% | (61.30%) | — | — | — |
ROIC
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (60.76%) | (73.83%) | (166.23%) | 5.83% | — | — | — |
ROE
|
Kopin Corporation (KOPN), a niche player in microdisplays for AR headsets and defense applications, has seen revenue double to $50.3 million by 2024, yet it grapples with chronic losses, aggressive share dilution (shares up 107% since 2016), and relentless cash burn exceeding $200 million over nine years. Gross margins have eroded to 28%, ROE plunged to -166%, and book value per share halved to $0.18, underscoring a balance sheet strained by operational inefficiencies and unproven commercial traction despite pivots to higher-margin OLED tech.
Analysts forecast a dramatic turnaround—revenue surging 55% to $78.2 million by 2027 with positive EPS—implying 48-170% stock upside from current lows, following a post-2021 crash from AR hype peaks. However, this contrarian analysis highlights red flags: revenue per share dilution, defense program delays like IVAS restructurings, zero insider buying, and competition from giants like Sony and Samsung, evoking historical tech bubbles where promise outpaced delivery.
In a market fond of “buy the dip,” Kopin’s volatile history—from 2021 froth to reality-check lows—warns of sinkholes ahead unless catalysts like IVAS Phase 2.2 or AR wins materialize. Delve deeper for the full dissection of metrics, risks, and whether this microcap relic can finally deliver.
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