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Metrics | Range | Conclusion |
---|---|---|
Selected LTM Pb Multiple | 1.5x - 1.7x | 1.6x |
Historical Pb Multiple | 1.3x - 4.8x | 2.1x |
Fair Value | $71.95 - $79.52 | $75.73 |
Upside | 12.8% - 24.6% | 18.7% |
Benchmarks | - | Full Ticker |
nLIGHT, Inc. | - | NasdaqGS:LASR |
Coherent Corp. | - | NYSE:COHR |
Corning Incorporated | - | NYSE:GLW |
Lumentum Holdings Inc. | - | NasdaqGS:LITE |
Insight Enterprises, Inc. | - | NasdaqGS:NSIT |
IPG Photonics Corporation | - | NasdaqGS:IPGP |
Select Price / Book Ratio | ||||||||
Benchmark Companies | ||||||||
LASR | COHR | GLW | LITE | NSIT | IPGP | |||
NasdaqGS:LASR | NYSE:COHR | NYSE:GLW | NasdaqGS:LITE | NasdaqGS:NSIT | NasdaqGS:IPGP | |||
Historical Net Income Growth | ||||||||
5Y CAGR | NM- | NM- | -10.1% | NM- | 9.4% | NM- | ||
3Y CAGR | NM- | NM- | -22.3% | NM- | 4.4% | NM- | ||
Latest Twelve Months | -45.9% | 85.4% | -26.1% | -96.2% | -36.3% | -182.9% | ||
Historical Net Income Profit Margin | ||||||||
5 Year Average Margin | -17.1% | 1.5% | 7.6% | -1.3% | 2.6% | 10.6% | ||
Prior Fiscal Year | -19.9% | -7.8% | 4.6% | -7.4% | 3.1% | 17.0% | ||
Latest Fiscal Year | -30.6% | -5.9% | 3.9% | -40.2% | 2.9% | -18.6% | ||
Latest Twelve Months | -30.6% | -1.1% | 3.3% | -37.0% | 2.3% | -18.6% | ||
Return on Equity | ||||||||
5 Year Average Margin | -14.5% | 0.0% | 6.8% | -3.6% | 15.8% | 5.7% | ||
Prior Fiscal Year | -15.9% | -10.5% | 4.9% | -8.1% | 16.7% | 9.1% | ||
Latest Twelve Months | -25.8% | -1.1% | 4.1% | -48.6% | 11.4% | -8.2% | ||
Next Fiscal Year | -13.4% | 10.1% | 18.4% | 12.3% | 17.4% | 2.9% | ||
Two Fiscal Years Forward | -9.8% | 11.5% | 19.8% | 23.1% | 17.5% | 5.4% | ||
Current Trading Multiples | ||||||||
Price / LTM Sales | 2.1x | 2.1x | 2.9x | 3.1x | 0.5x | 2.8x | ||
Price / LTM EPS | -6.9x | -188.0x | 86.3x | -8.3x | 22.4x | -15.0x | ||
Price / Book | 1.9x | 2.1x | 3.7x | 5.0x | 2.7x | 1.3x | ||
Price / Fwd Book | 2.3x | 1.9x | 3.4x | 4.1x | 2.2x | 1.6x | ||
Low | Mid | High | ||||||
Benchmark P/B Ratio | 1.9x | 2.7x | 5.0x | |||||
Historical P/B Ratio | 1.3x | 2.1x | 4.8x | |||||
Selected P/B Multiple | 1.5x | 1.6x | 1.7x | |||||
(x) Book Value | 2,024 | 2,024 | 2,024 |
Equity Value | |||||||
Benchmark Companies | |||||||
(in millions) | LASR | COHR | GLW | LITE | NSIT | IPGP | |
Value of Common Equity | 419 | 11,102 | 39,192 | 4,344 | 4,263 | 2,726 | |
(/) Shares Outstanding | 49.4 | 155.0 | 856.5 | 69.1 | 31.9 | 42.7 | |
Implied Stock Price | 8.47 | 71.64 | 45.76 | 62.86 | 133.53 | 63.80 | |
FX Conversion Rate to Trading Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | |
Implied Stock Price (Trading Cur) | 8.47 | 71.64 | 45.76 | 62.86 | 133.53 | 63.80 | |
Trading Currency | USD | USD | USD | USD | USD | USD | |
FX Rate to Reporting Currency | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 |