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NeoPhotonics

NYSE:NPTN
Snowflake Description

Excellent balance sheet with reasonable growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
NPTN
NYSE
$190M
Market Cap
  1. Home
  2. US
  3. Semiconductors
Company description

NeoPhotonics Corporation develops, manufactures, and sells optoelectronic products that transmit, receive, and switch high speed digital optical signals for communications networks. The last earnings update was 48 days ago. More info.


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  • NeoPhotonics has significant price volatility in the past 3 months.
NPTN Share Price and Events
7 Day Returns
-2.6%
NYSE:NPTN
3.7%
US Semiconductor
2.2%
US Market
1 Year Returns
-33.1%
NYSE:NPTN
-5.5%
US Semiconductor
3.8%
US Market
NPTN Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
NeoPhotonics (NPTN) -2.6% 5.2% -33.3% -33.1% -53.5% -1.9%
US Semiconductor 3.7% 6.6% -1.9% -5.5% 79.8% 85.8%
US Market 2.2% 4.2% 4.4% 3.8% 43% 40.9%
1 Year Return vs Industry and Market
  • NPTN underperformed the Semiconductor industry which returned -5.5% over the past year.
  • NPTN underperformed the Market in United States of America which returned 3.8% over the past year.
Price Volatility
NPTN
Industry
5yr Volatility vs Market
Related Companies

NPTN Value

 Is NeoPhotonics undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of NeoPhotonics to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for NeoPhotonics.

NYSE:NPTN Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 9 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 11.1%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:NPTN
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Semiconductor Unlevered Beta Simply Wall St/ S&P Global 1.23
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.228 (1 + (1- 21%) (39.98%))
1.412
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.41
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.412 * 5.96%)
11.15%

Discounted Cash Flow Calculation for NYSE:NPTN using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for NeoPhotonics is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

NYSE:NPTN DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 11.15%)
2019 -22.31 Analyst x1 -20.07
2020 15.36 Analyst x1 12.44
2021 24.96 Est @ 62.45% 18.18
2022 36.07 Est @ 44.54% 23.64
2023 47.61 Est @ 31.99% 28.07
2024 58.67 Est @ 23.22% 31.12
2025 68.68 Est @ 17.07% 32.77
2026 77.45 Est @ 12.77% 33.25
2027 85.01 Est @ 9.76% 32.84
2028 91.51 Est @ 7.65% 31.80
Present value of next 10 years cash flows $224.03
NYSE:NPTN DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $91.51 × (1 + 2.73%) ÷ (11.15% – 2.73%)
$1,116.72
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $1,116.72 ÷ (1 + 11.15%)10
$388.08
NYSE:NPTN Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $224.03 + $388.08
$612.11
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $612.11 / 46.47
$13.17
NYSE:NPTN Discount to Share Price
Calculation Result
Value per share (USD) From above. $13.17
Current discount Discount to share price of $4.08
= -1 x ($4.08 - $13.17) / $13.17
69%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price NeoPhotonics is available for.
Intrinsic value
>50%
Share price is $4.08 vs Future cash flow value of $13.17
Current Discount Checks
For NeoPhotonics to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • NeoPhotonics's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • NeoPhotonics's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for NeoPhotonics's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are NeoPhotonics's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:NPTN PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $-0.86
NYSE:NPTN Share Price ** NYSE (2019-06-21) in USD $4.08
United States of America Semiconductor Industry PE Ratio Median Figure of 69 Publicly-Listed Semiconductor Companies 22.73x
United States of America Market PE Ratio Median Figure of 3,094 Publicly-Listed Companies 17.87x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of NeoPhotonics.

NYSE:NPTN PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:NPTN Share Price ÷ EPS (both in USD)

= 4.08 ÷ -0.86

-4.72x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • NeoPhotonics is loss making, we can't compare its value to the US Semiconductor industry average.
  • NeoPhotonics is loss making, we can't compare the value of its earnings to the United States of America market.
Price based on expected Growth
Does NeoPhotonics's expected growth come at a high price?
Raw Data
NYSE:NPTN PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -4.72x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts
113.3%per year
United States of America Semiconductor Industry PEG Ratio Median Figure of 64 Publicly-Listed Semiconductor Companies 1.09x
United States of America Market PEG Ratio Median Figure of 2,134 Publicly-Listed Companies 1.54x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for NeoPhotonics, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on NeoPhotonics's assets?
Raw Data
NYSE:NPTN PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $3.28
NYSE:NPTN Share Price * NYSE (2019-06-21) in USD $4.08
United States of America Semiconductor Industry PB Ratio Median Figure of 107 Publicly-Listed Semiconductor Companies 2.52x
United States of America Market PB Ratio Median Figure of 5,255 Publicly-Listed Companies 1.81x
NYSE:NPTN PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:NPTN Share Price ÷ Book Value per Share (both in USD)

= 4.08 ÷ 3.28

1.24x

* Primary Listing of NeoPhotonics.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • NeoPhotonics is good value based on assets compared to the US Semiconductor industry average.
X
Value checks
We assess NeoPhotonics's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Semiconductor industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Semiconductor industry average (and greater than 0)? (1 check)
  5. NeoPhotonics has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

NPTN Future Performance

 How is NeoPhotonics expected to perform in the next 1 to 3 years based on estimates from 9 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
113.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is NeoPhotonics expected to grow at an attractive rate?
  • NeoPhotonics's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • NeoPhotonics's earnings growth is expected to exceed the United States of America market average.
  • NeoPhotonics's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:NPTN Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:NPTN Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 9 Analysts 113.3%
NYSE:NPTN Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 9 Analysts 15.5%
United States of America Semiconductor Industry Earnings Growth Rate Market Cap Weighted Average 17.9%
United States of America Semiconductor Industry Revenue Growth Rate Market Cap Weighted Average 7.8%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.4%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:NPTN Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 9 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:NPTN Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 572 1
2022-12-31 510 1
2021-12-31 375 2
2020-12-31 320 4 9
2019-12-31 279 -23 5
NYSE:NPTN Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 333 32 -39
2018-12-31 323 20 -44
2018-09-30 308 17 -51
2018-06-30 298 -21 -61
2018-03-31 290 -17 -60
2017-12-31 293 -33 -53
2017-09-30 326 -14 -37
2017-06-30 358 14 -26
2017-03-31 384 30 -14
2016-12-31 411 54 0
2016-09-30 391 32 -2
2016-06-30 371 34 7

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • NeoPhotonics's earnings are expected to grow significantly at over 20% yearly.
  • NeoPhotonics's revenue is expected to grow by 15.5% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:NPTN Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 9 Analyst Estimates (S&P Global) See Below

All data from NeoPhotonics Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:NPTN Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31
2020-12-31 0.09 0.18 -0.01 2.00
2019-12-31 -0.51 -0.51 -0.51 1.00
NYSE:NPTN Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 -0.86
2018-12-31 -0.97
2018-09-30 -1.15
2018-06-30 -1.39
2018-03-31 -1.37
2017-12-31 -1.23
2017-09-30 -0.86
2017-06-30 -0.61
2017-03-31 -0.33
2016-12-31 0.00
2016-09-30 -0.04
2016-06-30 0.17

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if NeoPhotonics will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess NeoPhotonics's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
NeoPhotonics has a total score of 4/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

NPTN Past Performance

  How has NeoPhotonics performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare NeoPhotonics's growth in the last year to its industry (Semiconductor).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • NeoPhotonics does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare NeoPhotonics's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare NeoPhotonics's 1-year growth to the US Semiconductor industry average as it is not currently profitable.
Earnings and Revenue History
NeoPhotonics's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from NeoPhotonics Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:NPTN Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 333.32 -39.48 47.71 54.61
2018-12-31 322.54 -43.64 47.13 53.82
2018-09-30 308.31 -51.19 48.38 54.18
2018-06-30 297.68 -61.25 47.15 55.67
2018-03-31 289.79 -60.06 47.63 56.63
2017-12-31 292.89 -53.33 52.21 58.29
2017-09-30 325.86 -37.05 52.29 59.58
2017-06-30 358.05 -26.05 56.34 62.39
2017-03-31 383.97 -14.04 56.35 59.97
2016-12-31 411.42 -0.21 53.00 57.38
2016-09-30 390.71 -1.80 53.44 54.04
2016-06-30 370.96 6.76 48.86 47.33
2016-03-31 357.20 5.88 48.53 47.00
2015-12-31 339.44 3.67 47.46 44.53
2015-09-30 329.30 4.85 45.78 42.68
2015-06-30 327.31 1.54 44.40 43.76
2015-03-31 319.39 -7.03 44.84 44.39
2014-12-31 306.18 -19.72 45.30 45.96
2014-09-30 301.57 -25.76 45.84 48.82
2014-06-30 296.81 -33.18 48.21 49.20
2014-03-31 294.35 -34.69 48.01 48.20
2013-12-31 282.24 -34.34 44.25 45.85
2013-09-30 269.89 -32.85 40.48 41.56
2013-06-30 259.23 -22.76 38.24 39.22
2013-03-31 247.26 -18.13 36.62 37.46
2012-12-31 245.42 -17.67 37.60 38.29
2012-09-30 240.58 -37.54 39.14 40.79
2012-06-30 217.28 -42.43 38.20 37.96

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if NeoPhotonics has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if NeoPhotonics has efficiently used its assets last year compared to the US Semiconductor industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if NeoPhotonics improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess NeoPhotonics's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Semiconductor industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
NeoPhotonics has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

NPTN Health

 How is NeoPhotonics's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up NeoPhotonics's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • NeoPhotonics is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • NeoPhotonics's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of NeoPhotonics's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 4x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from NeoPhotonics Company Filings, last reported 2 months ago.

NYSE:NPTN Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 152.56 55.52 70.23
2018-12-31 160.24 58.15 68.69
2018-09-30 161.17 56.79 63.52
2018-06-30 169.46 67.95 64.64
2018-03-31 183.72 85.75 88.48
2017-12-31 194.45 82.17 95.36
2017-09-30 202.12 66.40 74.97
2017-06-30 215.62 40.42 80.00
2017-03-31 219.27 40.78 91.41
2016-12-31 225.41 41.15 105.09
2016-09-30 226.49 44.53 100.10
2016-06-30 225.49 45.43 110.90
2016-03-31 220.09 44.78 101.10
2015-12-31 211.66 44.18 101.69
2015-09-30 210.42 45.76 100.55
2015-06-30 212.62 45.65 100.43
2015-03-31 162.64 66.17 70.30
2014-12-31 159.46 46.11 43.04
2014-09-30 159.15 46.32 35.27
2014-06-30 162.35 48.02 28.04
2014-03-31 164.81 40.75 61.34
2013-12-31 176.81 44.21 75.02
2013-09-30 179.83 44.91 70.56
2013-06-30 187.26 45.90 74.43
2013-03-31 191.88 61.56 99.76
2012-12-31 202.68 34.17 101.24
2012-09-30 197.93 34.52 105.88
2012-06-30 196.24 35.94 107.09
  • NeoPhotonics's level of debt (36.4%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (24.8% vs 36.4% today).
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Whilst loss making NeoPhotonics has sufficient cash runway for more than 3 years if it maintains the current positive free cash flow level.
  • Whilst loss making NeoPhotonics has sufficient cash runway for more than 3 years, due to free cash flow being positive and growing by 8.3% per year.
X
Financial health checks
We assess NeoPhotonics's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. NeoPhotonics has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

NPTN Dividends

 What is NeoPhotonics's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from NeoPhotonics dividends.
If you bought $2,000 of NeoPhotonics shares you are expected to receive $0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate NeoPhotonics's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate NeoPhotonics's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:NPTN Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 9 Analyst Estimates (S&P Global) See Below
United States of America Semiconductor Industry Average Dividend Yield Market Cap Weighted Average of 32 Stocks 2.3%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2012 Stocks 2.4%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:NPTN Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31
2020-12-31
2019-12-31

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as NeoPhotonics has not reported any payouts.
  • Unable to verify if NeoPhotonics's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of NeoPhotonics's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as NeoPhotonics has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess NeoPhotonics's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can NeoPhotonics afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. NeoPhotonics has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

NPTN Management

 What is the CEO of NeoPhotonics's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Tim Jenks
COMPENSATION $2,033,419
AGE 63
TENURE AS CEO 21.2 years
CEO Bio

Mr. Timothy Storrs Jenks, also known as Tim, has been the President and Chief Executive Officer of Neophotonics Corp. since April 1998 and serves as the Chairman and has been its Director since April 1998. Mr. Jenks serves as an Advisor of Red Planet Capital and Astrolabe Ventures, Advisory arm. He has 20 years’ experience in international sales, marketing and management of technology. He served as the Chief Executive Officer of affiliate and spin out companies NanoGram Corporation from November 2002 to August 2005 and Kainos Energy Corp. From November 2002 to March 2003, he served as Chief Executive Officer of NanoGram Devices Corporation. He served as the Vice President and General Manager of Raychem Corporation, where he served in various general management and functional positions in both the United States and Europe from 1985 to 1998. He is a Director of Grabit, Inc. He served as a Naval Officer, Norway. He served as a Director of Ignis ASA from March 2010 until June 2011. He served as Director at NanoGram Corporation until July 2010. From November 2002 to March 2003, he served as a Director of NanoGram Devices Corporation from November 2002 to March 2003. He was a Reviewer of the National Nanotechnology Initiative and was a panel author of “Small Wonders: Endless Frontiers”. Mr. Jenks holds an MBA from Stanford University, a M.S. in Nuclear Engineering from the Massachusetts Institute of Technology and a BS in Mechanical Engineering and Marine Engineering from the U.S. Naval Academy.

CEO Compensation
  • Tim's compensation has increased whilst company is loss making.
  • Tim's remuneration is higher than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the NeoPhotonics management team in years:

8.6
Average Tenure
51
Average Age
  • The average tenure for the NeoPhotonics management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Tim Jenks

TITLE
Chairman
COMPENSATION
$2M
AGE
63
TENURE
21.2 yrs

Raymond Cheung

TITLE
COO & Senior VP
COMPENSATION
$1M
AGE
50
TENURE
10.6 yrs

Yang-Chiah Yee

TITLE
Senior Vice President of Global Sales
COMPENSATION
$2M
AGE
51
TENURE
1.3 yrs

Wupen Yuen

TITLE
Senior VP
COMPENSATION
$1M
AGE
48
TENURE
6.7 yrs

Judi Otteson

TITLE
VP & General Counsel

G. Lipscomb

TITLE
Vice President of Marketing
AGE
66
TENURE
16.6 yrs

Mona Taylor

TITLE
Senior Vice President of Human Resources
TENURE
0.8 yrs
Board of Directors Tenure

Average tenure and age of the NeoPhotonics board of directors in years:

9.1
Average Tenure
58
Average Age
  • The tenure for the NeoPhotonics board of directors is about average.
Board of Directors

Tim Jenks

TITLE
Chairman
COMPENSATION
$2M
AGE
63

Bandel Carano

TITLE
Director
COMPENSATION
$104K
AGE
56
TENURE
15.3 yrs

Mike Sophie

TITLE
Director
COMPENSATION
$166K
AGE
60
TENURE
12.6 yrs

Rajiv Ramaswami

TITLE
Director & Member of Technical Advisory Board
COMPENSATION
$154K
AGE
52
TENURE
9.1 yrs

Jay Abbe

TITLE
Lead Independent Director
COMPENSATION
$166K
AGE
77
TENURE
6 yrs

Ihab Tarazi

TITLE
Director & Member of Technical Advisory Board
COMPENSATION
$157K
AGE
51
TENURE
3.3 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by NeoPhotonics individual insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
31. May 19 Sell RUSNANO Management Company LLC Company 14. May 19 16. May 19 -375,500 $5.73 $-2,140,940
30. May 19 Buy Elizabeth Eby Individual 29. May 19 29. May 19 50,000 $3.57 $178,500
19. Mar 19 Sell Timothy Jenks Individual 15. Mar 19 15. Mar 19 -16,999 $6.62 $-112,589
27. Nov 18 Sell RUSNANO Management Company LLC Company 07. Nov 18 21. Nov 18 -1,214,200 $8.96 $-10,314,016
29. Aug 18 Sell Wupen Yuen Individual 28. Aug 18 28. Aug 18 -22,877 $8.93 $-203,783
X
Management checks
We assess NeoPhotonics's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. NeoPhotonics has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

NPTN News

Simply Wall St News

Did You Manage To Avoid NeoPhotonics's (NYSE:NPTN) Painful 54% Share Price Drop?

The more recent news is of little comfort, with the share price down 40% in a year. … Check out our latest analysis for NeoPhotonics NeoPhotonics isn't a profitable company, so it is unlikely we'll see a strong correlation between its share price and its earnings per share (EPS). … With revenue in decline, and profit but a dream, we can understand why the share price has been declining at 23% per year.

Simply Wall St -

Is NeoPhotonics Corporation (NYSE:NPTN) Overpaying Its CEO?

Our data indicates that NeoPhotonics Corporation is worth US$189m, and total annual CEO compensation is US$2.0m. … On average over the last three years, NeoPhotonics Corporation has shrunk earnings per share by 72% each year (measured with a line of best fit). … We compared total CEO remuneration at NeoPhotonics Corporation with the amount paid at companies with a similar market capitalization.

Simply Wall St -

Can We See Significant Institutional Ownership On The NeoPhotonics Corporation (NYSE:NPTN) Share Register?

Insiders often own a large chunk of younger, smaller, companies while huge companies tend to have institutions as shareholders. … Companies that used to be publicly owned tend to have lower insider ownership. … NeoPhotonics is not a large company by global standards.

Simply Wall St -

Need To Know: NeoPhotonics Corporation (NYSE:NPTN) Insiders Have Been Selling Shares

We often see insiders buying up shares in companies that perform well over the long term. … So shareholders might well want to know whether insiders have been buying or selling shares in NeoPhotonics Corporation (NYSE:NPTN). … The Last 12 Months Of Insider Transactions At NeoPhotonics.

Simply Wall St -

Should NeoPhotonics Be Disappointed With Their 32% Profit?

Because NeoPhotonics is loss-making, we think the market is probably more focussed on revenue and revenue growth, at least for now. … Generally speaking, companies without profits are expected to grow revenue every year, and at a good clip. … NeoPhotonics actually shrunk its revenue over the last year, with a reduction of 5.4%.

Simply Wall St -

NeoPhotonics Corporation (NYSE:NPTN): Time For A Financial Health Check

While small-cap stocks, such as NeoPhotonics Corporation (NYSE:NPTN) with its market cap of US$353m, are popular for their explosive growth, investors should also be aware of their balance sheet to judge whether the company can survive a downturn.

Simply Wall St -

Should You Be Pleased About The CEO Pay At NeoPhotonics Corporation's (NYSE:NPTN)

This analysis aims first to contrast CEO compensation with other companies that have similar market capitalization. … Take the survey and be part of one of the most advanced studies of stock market investors to date … How Does Tim Jenks's Compensation Compare With Similar Sized Companies?

Simply Wall St -

Can We See Significant Institutional Ownership On The NeoPhotonics Corporation (NYSE:NPTN) Share Register?

Generally speaking, as a company grows, institutions will increase their ownership. … Conversely, insiders often decrease their ownership over time. … We also tend to see lower insider ownership in companies that were previously publicly owned.

Simply Wall St -

Is Now An Opportune Moment To Examine NeoPhotonics Corporation (NYSE:NPTN)?

received a lot of attention from a substantial price movement on the NYSE over the last few months, increasing to $9.11 at one point, and dropping to the lows of $6.25. … Some share price movements can give investors a better opportunity to enter into the stock, and potentially buy at a lower price? … Let’s take a look at NeoPhotonics’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change

Simply Wall St -

Calculating The Fair Value Of NeoPhotonics Corporation (NYSE:NPTN)

by taking the expected future cash flows and discounting them to today's value. … Discounted Cash Flows (DCF). … Anyone interested in learning a bit more about intrinsic value should have a read of the Simply Wall St analysis model

Simply Wall St -

NPTN Company Info

Description

NeoPhotonics Corporation develops, manufactures, and sells optoelectronic products that transmit, receive, and switch high speed digital optical signals for communications networks. It offers high speed products, including transmitter, receiver, and switching products for 100G (gigabits per second) and optical transmission applications over distances of 2 to 2,000 kilometers; optical components for coherent systems, including narrow linewidth tunable transmit and local oscillator lasers (NLW-ITLA) that generate ultra-pure wavelength or color for coherent transmission, as well as coherent micro-modulators, which encode the information on the intensity and phase of the optical beam; and integrated coherent receivers (ICRs) that decode the phase and polarization encoded coherent signals. The company also engages in developing pluggable coherent modules that combine NLW-ITLA with ICR and a coherent modulator; and offers 100G products for the client side and datacenter applications. In addition, it offers network products and solutions, including application-specific passive optical functionalities in modules or sub-system configurations; transceiver modules for various low speed access and mobile backhaul applications; and products for test and measurement, instrumentation, industrial, and research applications. The company sells its products to network equipment manufacturers through a direct sales force in North America, Europe, and Asia. The company was formerly known as NanoGram Corporation and changed its name to NeoPhotonics Corporation in 2002. NeoPhotonics Corporation was founded in 1996 and is headquartered in San Jose, California.

Details
Name: NeoPhotonics Corporation
NPTN
Exchange: NYSE
Founded: 1996
$189,615,254
46,474,327
Website: http://www.neophotonics.com
Address: NeoPhotonics Corporation
2911 Zanker Road,
San Jose,
California, 95134,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE NPTN Common Shares New York Stock Exchange US USD 02. Feb 2011
DB 4NO Common Shares Deutsche Boerse AG DE EUR 02. Feb 2011
Number of employees
Current staff
Staff numbers
1,769
NeoPhotonics employees.
Industry
Semiconductors
Semiconductors
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/24 00:14
End of day share price update: 2019/06/21 00:00
Last estimates confirmation: 2019/06/14
Last earnings filing: 2019/05/07
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.