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Impinj, Inc.

PI Technology Semiconductors

Impinj, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $361.1 million, down 1.37% from fiscal 2024.

Revenue
+16.7%
EPS
+134.7%
Free cash flow
+14.7%
Total debt
−33.5%

Quarter to September 2026, against a year earlier

169.34 8.28 +5.14%
Market cap
$5.0B
P/E
0.0×
Fwd P/E
−436×
Dividend yield
—
F-score
4/9
Altman Z
9.20
Beneish M
−2.70
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Sold, $m 140.26
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell 3 — — — — 3 5 — 1 2 1 1
Insider Ownership 1.82%

Capital & Financial Ratios $m

Size
Market Cap 4,970.00
Revenue ttm 387.55
Net income ttm (9.50)
Free cash flow ttm 65.62
Net debt Q 73.33
Valuation
P/E 0.00
Forward P/E (436.00) (negative: loss-making)
Price / sales 12.95 (above 10: high)
Forward P/S Powerpack
Price / FCF 76.79
Price / book 16.60 (above 6: high)
Financial health
Current ratio Q 9.42 (at or above 1.5: strong)
Debt / equity Q 0.62
Interest coverage Q 7.70
Growth
Revenue growth Q +16.69% (above 0%: growing)
Operating income growth Q +599.85% (above 0%: growing)
EPS, this year +8.04%
EPS, next year A +25.07% (at or above 15%: strong)
Revenue, next year A +10.28% (at or above 10%: strong)
EPS, past 5 yrs —
EPS, next 5 yrs A +19.84% (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 13.1×, against a ten-year median of 7.7×; over the ten years it ranged from 1.0× in 2016 to 18.8× in 2024.
P/S against its own 10 years 86.25%
10-year low 10-year high
P/B against its own 10 years 56.91%
10-year low 10-year high
EV/Sales against its own 10 years 84.67%
10-year low 10-year high
EV/FCF against its own 10 years 33.92%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 113 165 175 113
Receivables 55 57 71 78
Inventory 97 99 85 83
Other — — — —
270 326 339 335
2023 2024 2025 Q'26
Payables 9 17 14 13
ST’ Debt — 283 97 1
Other — — — —
31 331 127 36

Compound Annual Growth %

10y 5y 3y
Sales 16.49% 21.05% 11.88%
Cash Flow 32.75% 0.00% 350.86%
Earnings 0.00% 0.00% 0.00%
Book Value 32.10% 13.91% 137.64%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 0.61 Actual 0.69

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 0.50 0.50 Met by 0.00
Q1 FY26 0.11 0.14 Beat by 0.03
Q2 FY26 0.81 0.86 Beat by 0.05
Q3 FY26 0.61 0.69 Beat by 0.08
Q4 FY26 0.48 — Reports 4 February 2027

EPS $

Mar Jun Sep Dec Year
’26 (0.83) 0.39 0.15 — —
’25 (0.30) 0.39 (0.44) (0.04) (0.37)
’24 1.10 0.34 0.01 (0.09) 1.39
’23 (0.17) (0.30) (0.59) (0.56) (1.62)
’22 (0.42) (0.45) (0.09) 0.00 (0.95)
’21 (0.40) (0.37) (0.53) (0.81) (2.12)
’20 (0.19) (0.77) (0.63) (0.68) (2.28)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 74 108 112 — —
’25 74 98 96 93 361
’24 77 102 95 92 366
’23 86 86 65 71 308
’22 53 60 68 77 258
’21 45 47 45 53 190
’20 48 26 28 36 139
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 4 32 26 — —
’25 (11) 34 21 15 59
’24 60 45 10 13 128
’23 (27) (23) (2) 1 (49)
’22 (15) 7 14 (6) 1
’21 9 (4) 5 (4) 6
’20 2 1 (16) (3) (17)
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 2 29 21 — —
’25 (13) 27 18 14 46
’24 54 44 5 8 111
’23 (34) (28) (4) (1) (68)
’22 (18) 7 12 (12) (11)
’21 5 (8) (1) (6) (10)
’20 1 1 (17) (4) (20)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.6
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 112 125 123 153 139 190 258 308 366 361 388 +13.9% 398 475 575 +16.7%
Gross margin, % 52.95 51.83 47.52 48.42 46.89 52.00 53.48 49.42 51.59 52.53 53.46 (0.4) pt
EBT (2) (17) (35) (23) (52) (51) (24) (44) 41 (11) (9) +24.6%
EBT margin, % (1.34) (13.90) (28.92) (14.91) (37.31) (26.86) (9.35) (14.21) 11.20 (3.02) (2.41) (1.7) pt
Net income (2) (17) (35) (23) (52) (51) (24) (43) 41 (11) (10) +23.1%
Per share, $
Per share, $ Revenue 10.42 6.06 5.75 7.00 6.09 7.87 10.09 11.50 13.10 12.33 12.66 +1.9%
Earnings (0.74) (0.84) (1.65) (1.05) (2.28) (2.12) (0.95) (1.62) 1.46 (0.37) (0.32) (7.4%)
Cash flow (0.88) (1.74) (0.55) 0.22 (0.74) 0.27 0.03 (1.85) 4.59 2.01 2.49 n/m
Capex (0.33) (0.32) (0.30) (0.11) (0.13) (0.67) (0.46) (0.70) (0.61) (0.44) (0.35) +3.3%
Free cash flow (1.21) (2.05) (0.85) 0.10 (0.87) (0.40) (0.44) (2.54) 3.98 1.57 2.14 n/m
Book value 11.51 5.75 4.59 5.73 4.78 (0.46) 0.61 1.28 5.36 7.15 9.87 (5.2%)
Shares, m 11 21 21 22 23 24 26 27 28 29 30 +11.7%
Valuation, ×
Valuation, × P/E 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 96.98 0.00 0.00 9.7
P/S 3.39 3.89 2.53 3.70 6.88 11.27 10.92 7.48 11.09 14.11 12.95 7.5
P/B 3.07 4.10 3.17 4.51 8.76 0.00 180.61 67.41 27.09 24.35 16.60 32.3
EV/Sales 2.62 3.51 2.27 3.29 6.53 11.77 11.35 8.04 12.19 14.40 13.14 7.6
EV/FCF (22.60) (10.35) (15.36) 220.70 (45.49) (229.33) (262.17) (36.37) 40.21 113.97 77.91 (24.7)
Cash, $m
Cash, $m Operating cash flow (9) (36) (12) 5 (17) 6 1 (49) 128 59 76 n/m
Capex (4) (7) (6) (2) (3) (16) (12) (19) (17) (13) (11) +15.4%
Free cash flow (13) (42) (18) 2 (20) (10) (11) (68) 111 46 66 n/m
Balance, $m
Balance, $m Working capital 123 110 98 157 144 220 233 239 (5) 213 299 +6.2%
Net debt (87) (48) (32) (62) (48) 95 110 169 119 106 73 n/m
Shareholders’ equity 124 119 98 125 109 (11) 16 34 150 209 302 +6.0%
Returns, %
Returns, % ROA (7.20) (10.84) (23.72) (12.77) (24.57) (19.60) (7.31) (12.23) 9.63 (2.10) (1.79) +5.1 pt
ROIC (0.81) (14.95) (32.96) (21.40) (48.05) (27.76) (9.72) (13.40) (1.64) (0.15) (0.46) +0.7 pt
ROE (40.68) (14.26) (32.50) (20.60) (44.31) (104.57) (1,076.46) (174.43) 44.39 (6.04) (3.82) +34.6 pt
People
People Employees 245 311 282 272 310 332 389 475 241 457 — +7.2%
Revenue/emp, $m 0.46 0.40 0.43 0.56 0.45 0.57 0.66 0.65 1.52 0.79 — +6.2%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 2 Nov 2026

Impinj, Inc. 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
SLAB Silicon Laboratories, Inc. $7.4B — (loss-making) — (loss-making) +18.33% (above 0%: growing) n/m −608.05% (below 0%: shrinking) 61.65% (4.67%) Compare
CRUS Cirrus Logic, Inc. $5.5B 13.5× 16.0× −0.27% (below 0%: shrinking) −10.51% (below 0%: shrinking) −51.81% (below 0%: shrinking) 53.72% 23.66% Compare
SIMO Silicon Motion Technology Corporation $5.3B 17.0× 16.8× +131.50% (above 0%: growing) +64.62% (above 0%: growing) −4,223.32% (below 0%: shrinking) 53.63% 29.02% Compare
ALGM Allegro MicroSystems, Inc. $5.0B 169× 57.1× +29.21% (above 0%: growing) +200.00% (above 0%: growing) +119.18% (above 0%: growing) 49.18% 12.80% Compare
PI Impinj, Inc. $5.0B — (loss-making) — (loss-making) +16.69% (above 0%: growing) n/m +14.68% (above 0%: growing) 52.75% 4.10%
SYNA Synaptics Incorporated $4.6B — (loss-making) — (loss-making) +0.51% (above 0%: growing) n/m −342.22% (below 0%: shrinking) 47.76% (4.32%) Compare
MXL MaxLinear, Inc $4.0B — (loss-making) 243× +72.43% (above 0%: growing) n/m −786.91% (below 0%: shrinking) 58.73% 13.86% 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
Median of peers $4.8B 27.6× 27.9× +26.52% +132.31% −197.01% 51.41% 12.36%

All 68 Semiconductors stocks →

Pay and ownership Proxy statement filed 16 April 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 7.11m 8.19m 415.60
2024 11.19m 21.77m 561.72
2023 6.80m 1.26m 348.14
2022 5.46m 11.25m 422.20
2021 5.91m 19.32m 343.00

Ownership

Directors and executive officers, together 6.80%
FMR LLC 13.30%
BlackRock, Inc. 12.40%
Capital International Investors 5.00%
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

Impinj, Inc. (PI) Latest News

2 Nov

Impact 3 · · StockStory

31 Oct

Impact 3 · · StockStory

30 Oct

Impact 3 · · Simply Wall St.

29 Oct

Impact 4 · · The Motley Fool transcript
Impact 3 · · Moby

28 Oct

Impact 4 · · MarketBeat
Impact 4 · · StockStory
Impact 4 · · Business Wire earnings
Impact 3 · · Zacks
Impact 3 · · Associated Press

27 Oct

Impact 3 · · StockStory
Impact 3 · · Insider Monkey

25 Oct

Impact 3 · · Simply Wall St.

10 Oct

Impact 3 · · Simply Wall St.

27 Sep

Impact 3 · · Simply Wall St.

3 Sep

Impact 3 ·

21 Aug

Impact 4 ·

7 Aug

Impact 3 · · The Motley Fool transcript

31 Jul

Impact 4 ·

30 Jul

Impact 4 · transcript
Impact 3 · · Moby transcript

29 Jul

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

15 Jul

Impact 3 ·

12 Jun

Impact 3 ·

18 May

Impact 3 · · Simply Wall St.

12 May

Impact 3 · · The Motley Fool

30 Apr

Impact 4 · · The Motley Fool

PI metrics, ten years each

stockrow.com/PI · Data as of Nov 2, 2026 · For information only; not investment advice. · © 2026 stockrow.com