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nLight

LASR Technology Semiconductors

nLight’s revenue for fiscal 2025 (year ended December 2025) was $261.3 million, up 31.6% from fiscal 2024.

Revenue
+10.5%
EPS
+14.3%
Free cash flow
+576.3%

Quarter to September 2026, against a year earlier

37.69 8.35 +28.46%
Market cap
$1.7B
P/E
0.0×
Fwd P/E
−163×
Dividend yield
—
F-score
6/9
Altman Z
12.40
Beneish M
−3.21
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Sold, $m 62.42
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell 4 1 — 6 — 7 3 — 2 4 1 —
Insider Ownership 6.31%

Capital & Financial Ratios $m

Size
Market Cap 1,690.00
Revenue ttm 317.72
Net income ttm (12.78)
Free cash flow ttm 34.80
Net debt Q (314.20)
Valuation
P/E 0.00
Forward P/E (163.00) (negative: loss-making)
Price / sales 6.89
Forward P/S Powerpack
Price / FCF 92.71
Price / book 4.94
Financial health
Current ratio Q 7.71 (at or above 1.5: strong)
Debt / equity Q 0.00 (at or below 0.5: strong)
Interest coverage Q (368.76)
Growth
Revenue growth Q +10.52% (above 0%: growing)
Operating income growth Q −26.30% (below 0%: shrinking)
EPS, this year +114.32% (at or above 15%: strong)
EPS, next year A +28.74% (at or above 15%: strong)
Revenue, next year A +17.06% (at or above 10%: strong)
EPS, past 5 yrs —
EPS, next 5 yrs A +61.56% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 6.0×, against a ten-year median of 2.7×; over the ten years it ranged from 0.4× in 2018 to 12.8× in 2026.
P/S against its own 10 years 88.16%
10-year low 10-year high
P/B against its own 10 years 80.57%
10-year low 10-year high
EV/Sales against its own 10 years 85.32%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 113 101 134 314
Receivables 40 35 51 45
Inventory 52 41 45 60
Other — — — —
221 194 243 454
2023 2024 2025 Q'26
Payables 12 15 21 23
ST’ Debt — — — —
Other — — — —
33 34 64 59

Compound Annual Growth %

10y 5y 3y
Sales — 3.24% 2.59%
Cash Flow — 10.34% 0.00%
Earnings — 0.00% 0.00%
Book Value — 0.61% (5.75%)

Earnings Trends EPS, adjusted, against the consensus

Q2 FY26 Estimate 0.14 Actual 0.15

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q3 FY25 0.02 0.08 Beat by 0.06
Q4 FY25 0.11 0.14 Beat by 0.03
Q1 FY26 0.08 0.20 Beat by 0.12
Q2 FY26 0.14 0.15 Beat by 0.01
Q3 FY26 0.06 — Reports 5 November 2026

EPS $

Mar Jun Sep Dec Year
’26 0.01 (0.02) (0.12) — —
’25 (0.16) (0.07) (0.14) (0.10) (0.47)
’24 (0.29) (0.25) (0.21) (0.51) (1.27)
’23 (0.17) (0.19) (0.26) (0.28) (0.90)
’22 (0.20) (0.23) (0.29) (0.50) (1.23)
’21 (0.15) (0.19) (0.16) (0.20) (0.70)
’20 (0.20) (0.18) (0.05) (0.12) (0.55)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 80 83 74 — —
’25 52 62 67 81 261
’24 45 51 56 47 199
’23 54 53 51 52 210
’22 64 61 60 57 242
’21 61 69 72 67 270
’20 43 52 62 66 223
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 10 21 (13) — —
’25 0 (1) 5 18 21
’24 11 (4) (6) (4) (2)
’23 1 (4) 13 0 10
’22 (7) (5) (3) 0 (15)
’21 4 (1) 0 (10) (7)
’20 (1) 8 8 (2) 13
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 8 16 (13) — —
’25 (2) (3) 2 16 13
’24 10 (6) (7) (7) (10)
’23 0 (5) 10 (1) 5
’22 (12) (13) (6) (5) (36)
’21 1 (6) (6) (18) (29)
’20 (17) 6 5 (6) (11)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 101 139 191 177 223 270 242 210 199 261 318 +11.1% 306 348 423 +17.4%
Gross margin, % 22.86 31.95 34.99 29.63 26.65 28.62 21.00 21.97 16.63 29.83 31.99 +7.0 pt
EBT (12) 7 18 (7) (21) (30) (54) (43) (61) (23) (12) +7.1%
EBT margin, % (12.16) 4.83 9.16 (3.83) (9.24) (11.12) (22.41) (20.32) (30.66) (8.71) (3.80) +3.5 pt
Net income (14) 2 14 (13) (21) (30) (55) (42) (61) (23) (13) +5.7%
Per share, $
Per share, $ Revenue 40.53 50.67 7.70 4.76 5.81 6.41 5.45 4.56 4.15 5.23 5.49 (20.4%)
Earnings (5.68) 0.67 0.38 (0.35) (0.55) (0.70) (1.23) (0.90) (1.27) (0.47) (0.23) (24.2%)
Cash flow 2.38 1.25 0.14 (0.11) 0.34 (0.18) (0.33) 0.22 (0.05) 0.43 0.60 (17.4%)
Capex (1.61) (2.00) (0.47) (0.35) (0.63) (0.51) (0.49) (0.12) (0.17) (0.17) 0.00 (22.1%)
Free cash flow 0.77 (0.76) (0.33) (0.46) (0.29) (0.69) (0.82) 0.10 (0.21) 0.26 0.60 (11.5%)
Book value 11.88 22.41 8.76 5.84 5.73 7.17 6.10 5.52 4.52 4.54 7.66 (10.1%)
Shares, m 3 3 25 37 38 42 44 46 48 50 55 +39.5%
Valuation, ×
Valuation, × P/E 12.83 12.83 14.09 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 4.0
P/S 0.54 0.54 2.31 4.26 5.62 3.74 1.92 2.90 2.53 7.17 6.89 3.2
P/B 1.27 1.27 2.03 3.48 5.70 3.34 1.72 2.39 2.32 8.27 4.94 3.2
EV/Sales 0.47 0.47 1.53 3.60 5.17 3.25 1.53 2.42 2.08 6.74 5.96 2.7
EV/FCF (13.65) (13.65) (40.81) (36.86) (101.77) (30.26) (10.21) 106.09 (40.28) 136.88 80.25 (4.5)
Cash, $m
Cash, $m Operating cash flow 6 3 3 (4) 13 (7) (15) 10 (2) 21 35 +15.2%
Capex (4) (5) (12) (13) (24) (22) (22) (5) (8) (8) (11) +8.6%
Free cash flow 2 (2) (8) (17) (11) (29) (36) 5 (10) 13 35 +23.4%
Balance, $m
Balance, $m Working capital 27 56 195 174 159 231 196 188 160 179 396 +23.4%
Net debt 6 (19) (149) (117) (102) (147) (108) (113) (101) (134) (314) n/m
Shareholders’ equity 30 61 218 217 220 302 271 254 216 227 443 +25.3%
Returns, %
Returns, % ROA (15.67) 0.00 5.29 (5.15) (7.85) (9.03) (15.53) (13.10) (21.07) (8.02) (3.08) +7.7 pt
ROIC (16.28) 14.56 15.59 (6.23) (11.15) (12.14) (21.18) (20.65) (35.45) (17.82) (9.15) (1.5) pt
ROE (31.23) 0.00 6.83 (5.93) (9.59) (11.37) (19.05) (15.87) (25.82) (10.59) (3.86) +20.6 pt
People
People Employees — 1,071 1,130 1,100 1,275 1,300 1,100 930 800 800 — (3.6%)
Revenue/emp, $m 0.00 0.13 0.17 0.16 0.17 0.21 0.22 0.23 0.25 0.33 — n/m
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 6 Nov 2026

nLight vs peers in Semiconductors (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
VSH Vishay Intertechnology, Inc. $3.4B 34.1× 31.7× +23.82% (above 0%: growing) n/m +504.83% (above 0%: growing) 25.48% 9.42% Compare
DIOD Diodes Incorporated $3.2B 27.6× 24.0× +35.81% (above 0%: growing) +206.45% (above 0%: growing) −29.66% (below 0%: shrinking) 36.14% 11.91% Compare
POWI Power Integrations, Inc. $2.2B 48.2× 60.7× +5.51% (above 0%: growing) n/m +50.14% (above 0%: growing) 55.56% 15.24% Compare
NVTS Navitas Semiconductor Corporation $2.1B — (loss-making) — (loss-making) +38.36% (above 0%: growing) n/m −79.86% (below 0%: shrinking) 39.35% (245.72%) Compare
LASR nLight $1.7B — (loss-making) — (loss-making) +33.78% (above 0%: growing) n/m +576.25% (above 0%: growing) 31.15% (4.32%)
IMOS Chipmos Technologies $1.5B 20.9× — +25.55% (above 0%: growing) n/m −9.79% (below 0%: shrinking) 17.96% 12.84% Compare
HIMX Himax Technologies, Inc. $1.3B 37.9× 25.0× +5.85% (above 0%: growing) +10.00% (above 0%: growing) −76.68% (below 0%: shrinking) 33.09% 10.80% Compare
WOLF Wolfspeed, Inc. $1.1B — (loss-making) — — n/m — 100.00% 100.00% Compare
AMBQ Ambiq Micro, Inc. $851.8M — (loss-making) — (loss-making) +89.68% (above 0%: growing) n/m +18.56% (above 0%: growing) 45.03% (25.74%) Compare
Median of peers $1.8B 34.1× 28.4× +25.55% — −9.79% 37.75% 11.36%

All 68 Semiconductors stocks →

Pay and ownership Proxy statement filed 24 April 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 37.33m 88.60m 115.00
2024 5.14m 1.18m 52.00
2023 4.02m 7.70m 67.00
2022 3.42m (2.83m) 50.00
2021 5.74m 2.57m 118.00

Ownership

Directors and executive officers, together 3.10%
The Vanguard Group 8.60%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

nLight (LASR) Latest News

6 Nov

Impact 3 · · Simply Wall St.
Impact 3 · · The Motley Fool transcript
Impact 3 · · MarketBeat transcript

5 Nov

Impact 3 · · Zacks
Impact 3 · · StockStory
Impact 3 · · Associated Press
Impact 3 · · Business Wire

23 Oct

Impact 3 · · Insider Monkey

15 Oct

Impact 4 · · Simply Wall St.

11 Oct

Impact 4 · · TIKR

29 Sep

Impact 3 · · StockStory

14 Aug

Impact 3 ·

13 Aug

Impact 3 · · The Motley Fool transcript

11 Aug

Impact 3 ·

9 Aug

Impact 3 ·

7 Aug

Impact 4 ·
Impact 3 ·
Impact 3 · · Moby
Impact 3 · · MarketBeat

6 Aug

Impact 3 ·
Impact 3 ·
Impact 3 ·

3 Aug

Impact 3 ·

15 Jul

Impact 3 ·

10 Jul

Impact 4 · · Trefis
Impact 4 ·
Impact 4 · · Stocktwits
Impact 4 ·

9 Jul

Impact 5 ·
Impact 4 ·
stockrow.com/LASR · Data as of Nov 6, 2026 · For information only; not investment advice. · © 2026 stockrow.com