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. In the quarter to June 2026, revenue grew 10.7%, EPS was flat, free cash flow grew 6.83% and total debt fell 14.9%, each against the same quarter a year earlier.

175.37 15.51 −8.13%
Market cap
$5.8B
P/E
0.0×
Fwd P/E
−171×
Dividend yield
—
F-score
4/9
Altman Z
9.20
Beneish M
−2.70
Dividend safety
n/a

Insider Decisions trades per month

Total sells 170.44
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell 9 4 — — — — 3 5 — 1 2 —
Insider Ownership 2.40%

Capital & Financial Ratios $m

Market Cap 5,830.00
Revenue 371.53
Net Income (26.99)
Free Cash Flow 62.99
Net Debt 108.92
Current Ratio 3.28 (at or above 1.5: strong)
Debt/Equity 1.04
P/E ratio 0.00
Fwd P/E (171.00) (negative: loss-making)
P/S ratio 14.39 (above 10: high)
P/B ratio 23.08 (above 6: high)
Past 5Y EPS Growth —
This Y EPS Growth (0.81%) (below 0%: weak)
Next Y EPS Growth 33.93% (at or above 15%: strong)
Next Y revenue growth 7.87%
Next 5Y EPS Growth 20.58% (at or above 15%: strong)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

P/S against its own 10 years 92.35%
10-year low 10-year high
P/B against its own 10 years 68.51%
10-year low 10-year high
EV/Sales against its own 10 years 91.46%
10-year low 10-year high
EV/FCF against its own 10 years 42.15%
10-year low 10-year high

Dividends

Payout Ratio —
Annual Dividend Rate —
Annual Dividend Yield —
total individual payouts
2024 Powerpack
2023 Powerpack
2022 Powerpack
2021 Powerpack
2020 Powerpack
2019 Powerpack
2017 Powerpack
special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 113 165 175 133
Receivables 55 57 71 71
Inventory 97 99 85 92
Other — — — —
270 326 339 305
2023 2024 2025 Q'26
Payables 9 17 14 17
ST’ Debt — 283 97 57
Other — — — —
31 331 127 93

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%

Revenue $m

Mar Jun Sep Dec Year
’26 74 108 — — —
’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 — — —
’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 — — —
’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.

EPS $

Mar Jun Sep Dec Year
’26 (0.83) 0.39 — — —
’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.

Target Price Range

Analyst price targets

Recommendation Rating

1.6
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 16.36 19.97 9.95 14.00 11.47 39.69 39.74 48.39 78.17 60.85

Analyst estimates 2026–2028

Powerpack
High 41.91 60.85 28.48 40.24 45.00 94.39 129.02 144.90 239.88 247.06
People
People Employees 245 311 282 272 310 332 389 475 241 457
Revenue/emp, $m 0.46 0.40 0.43 0.56 0.45 0.57 0.66 0.65 1.52 0.79
Income, $m
Income, $m Revenue 112 125 123 153 139 190 258 308 366 361
Gross margin, % 52.95 51.83 47.52 48.42 46.89 52.00 53.48 49.42 51.59 52.53
EBT (2) (17) (35) (23) (52) (51) (24) (44) 41 (11)
EBT margin, % (1.34) (13.90) (28.92) (14.91) (37.31) (26.86) (9.35) (14.21) 11.20 (3.02)
Net income (2) (17) (35) (23) (52) (51) (24) (43) 41 (11)
Depreciation 3 4 4 5 8 6 7 14 14 14
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
Earnings (0.74) (0.84) (1.65) (1.05) (2.28) (2.12) (0.95) (1.62) 1.46 (0.37)
Cash flow (0.88) (1.74) (0.55) 0.22 (0.74) 0.27 0.03 (1.85) 4.59 2.01
Capex (0.33) (0.32) (0.30) (0.11) (0.13) (0.67) (0.46) (0.70) (0.61) (0.44)
Free cash flow (1.21) (2.05) (0.85) 0.10 (0.87) (0.40) (0.44) (2.54) 3.98 1.57
Book value 11.51 5.75 4.59 5.73 4.78 (0.46) 0.61 1.28 5.36 7.15
Shares, m 11 21 21 22 23 24 26 27 28 29
Valuation, ×
Valuation, × P/E 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 96.98 0.00
P/S 3.39 3.89 2.53 3.70 6.88 11.27 10.92 7.48 11.09 14.11
P/B 3.07 4.10 3.17 4.51 8.76 0.00 180.61 67.41 27.09 24.35
EV/Sales 2.62 3.51 2.27 3.29 6.53 11.77 11.35 8.04 12.19 14.40
EV/FCF (22.60) (10.35) (15.36) 220.70 (45.49) (229.33) (262.17) (36.37) 40.21 113.97
Cash, $m
Cash, $m Operating cash flow (9) (36) (12) 5 (17) 6 1 (49) 128 59
Capex (4) (7) (6) (2) (3) (16) (12) (19) (17) (13)
Free cash flow (13) (42) (18) 2 (20) (10) (11) (68) 111 46
Balance, $m
Balance, $m Working capital 123 110 98 157 144 220 233 239 (5) 213
Total debt 14 10 24 55 58 288 283 282 283 281
Net debt (87) (48) (32) (62) (48) 95 110 169 119 106
Shareholders’ equity 124 119 98 125 109 (11) 16 34 150 209
Returns, %
Returns, % ROA (7.20) (10.84) (23.72) (12.77) (24.57) (19.60) (7.31) (12.23) 9.63 (2.10)
ROIC (0.81) (14.95) (32.96) (21.40) (48.05) (27.76) (9.72) (13.40) (1.64) (0.15)
ROE (40.68) (14.26) (32.50) (20.60) (44.31) (104.57) (1,076.46) (174.43) 44.39 (6.04)
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

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
SIMO Silicon Motion Technology Corporation $7.4B 24.6× 29.6× +127.00% (above 0%: growing) +718.37% (above 0%: growing) −117.86% (below 0%: shrinking) 50.16% 22.42% 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
MXL MaxLinear, Inc $7.1B — (loss-making) — (loss-making) +55.17% (above 0%: growing) n/m −46.59% (below 0%: shrinking) 57.84% (2.48%) Compare
ALGM Allegro MicroSystems, Inc. $6.0B 395× 81.2× +27.45% (above 0%: growing) n/m −72.61% (below 0%: shrinking) 48.45% 9.82% Compare
PI Impinj, Inc. $5.8B — (loss-making) — (loss-making) +10.70% (above 0%: growing) 0.00% +6.83% (above 0%: growing) 58.63% 9.69%
CRUS Cirrus Logic, Inc. $5.4B 12.8× 21.4× +12.88% (above 0%: growing) +29.91% (above 0%: growing) −57.11% (below 0%: shrinking) 52.61% 18.37% Compare
SYNA Synaptics Incorporated $4.7B — (loss-making) — (loss-making) +8.91% (above 0%: growing) n/m +9.29% (above 0%: growing) 47.34% (5.23%) Compare
VSH Vishay Intertechnology, Inc. $4.4B 134× 73.7× +16.57% (above 0%: growing) +1,318.92% (above 0%: growing) +114.09% (above 0%: growing) 23.34% 6.02% Compare
DIOD Diodes Incorporated $3.9B 44.1× 39.8× +21.66% (above 0%: growing) +3.03% (above 0%: growing) +31.47% (above 0%: growing) 33.12% 7.47% Compare
Median of peers $5.7B 44.1× 39.8× +20.00% +374.14% −51.85% 49.31% 6.75%

All 67 Semiconductors stocks →

Impinj, Inc. (PI) key facts

  • Concern: Impinj, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $361.1 million, down 1.37% from fiscal 2024.
  • Impinj, Inc. (PI) is a Semiconductors company in the Technology sector, listed on Nasdaq.
  • As of October 16, 2026, PI traded at $175.37, a market capitalization of $5.8 billion.
  • Return on equity was −6.04% and debt-to-equity 1.04.
  • Its Piotroski F-score is 4 out of 9 and its Altman Z-score is 9.20 (safe zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Impinj, Inc. (PI) Latest News

7 Aug

Impact 3 · transcript

22 Apr

Impact 4 · transcript
stockrow.com/PI · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com