NasdaqGS:LASR

Stock Analysis Report

Executive Summary

nLIGHT, Inc. designs, develops, and manufactures semiconductor and fiber lasers used in the industrial, microfabrication, and aerospace and defense markets.

Snowflake

Fundamentals

Excellent balance sheet with reasonable growth potential.


Similar Companies

Share Price & News

How has nLIGHT's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

-1.9%

LASR

4.0%

US Electronic

1.8%

US Market


1 Year Return

-20.2%

LASR

13.3%

US Electronic

7.3%

US Market

Return vs Industry: LASR underperformed the US Electronic industry which returned 13.3% over the past year.

Return vs Market: LASR underperformed the US Market which returned 7.3% over the past year.


Shareholder returns

LASRIndustryMarket
7 Day-1.9%4.0%1.8%
30 Day-11.8%1.1%-0.7%
90 Day-6.8%4.2%0.06%
1 Year-20.2%-20.2%14.4%13.3%9.7%7.3%
3 Yearn/a54.7%50.4%46.3%36.9%
5 Yearn/a88.7%79.6%64.5%46.5%

Price Volatility Vs. Market

How volatile is nLIGHT's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is nLIGHT undervalued compared to its fair value and its price relative to the market?

103.65x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Undervalued: LASR ($14.17) is trading above our estimate of fair value ($12.08)

Significantly Undervalued: LASR is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: LASR is poor value based on its PE Ratio (103.7x) compared to the Electronic industry average (19.2x).

PE vs Market: LASR is poor value based on its PE Ratio (103.7x) compared to the US market (17.7x).


Price to Earnings Growth Ratio

Low PEG Ratio: LASR is good value based on its PEG Ratio (1x)


Price to Book Ratio

PB vs Industry: LASR is overvalued based on its PB Ratio (2.4x) compared to the US Electronic industry average (2x).


Next Steps

Future Growth

How is nLIGHT forecast to perform in the next 1 to 3 years based on estimates from 10 analysts?

108.3%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: LASR's forecast earnings growth (108.3% per year) is above the savings rate (2.7%).

Earnings vs Market: LASR's earnings (108.3% per year) are forecast to grow faster than the US market (14.6% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: LASR's revenue (10.5% per year) is forecast to grow faster than the US market (7.3% per year).

High Growth Revenue: LASR's revenue (10.5% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: LASR's Return on Equity is forecast to be low in 3 years time (6.8%).


Next Steps

Past Performance

How has nLIGHT performed over the past 5 years?

57.9%

Last years earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: Insufficient data to determine if LASR's year-on-year earnings growth rate was positive over the past 5 years.

Accelerating Growth: Insufficient data to compare LASR's past year earnings growth to its 5-year average.

Earnings vs Industry: LASR earnings growth over the past year (57.9%) underperformed the Electronic industry 58.6%.


Return on Equity

High ROE: LASR's Return on Equity (2.2%) is considered low.


Return on Assets

ROA vs Industry: LASR's Return on Assets is below or equal to the Electronic industry average last year.


Return on Capital Employed

ROCE Improving: Insufficient data to calculate LASR's Return on Capital Employed to determine if it has improved over the past 3 years.


Next Steps

Financial Health

How is nLIGHT's financial position?


Financial Position Analysis

Short Term Liabilities: LASR's short term assets ($219.8M) exceeds its short term liabilities ($24.7M)

Long Term Liabilities: LASR's short term assets (219.8M) exceeds its long term liabilities (8.9M)


Debt to Equity History and Analysis

Debt Level: LASR's debt to equity ratio (0.04%) is considered satisfactory

Reducing Debt: Insufficient data to determine if LASR's debt to equity ratio has reduced over the past 5 years.

Debt Coverage: LASR's debt is well covered by operating cash flow (4733.7%).

Interest Coverage: LASR earns more interest than it pays, so coverage of interest payments is not a concern.


Balance Sheet

Inventory Level: LASR has a high level of physical assets or inventory.

Debt Coverage by Assets: LASR's debt is covered by short term assets (assets are 2313.736840x debt).


Next Steps

Dividend

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


Dividend Yield vs Market

companyn/amarketbottom25%1.5%markettop25%3.7%industryaverage1.5%forecastin3Years0%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: Unable to evaluate LASR's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate LASR's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.

Stable Dividend: Insufficient data to determine if LASR's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if LASR's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of LASR's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

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

12.7yrs

Average management tenure


CEO

Scott Keeney (54yo)

19.3yrs

Tenure

US$2,794,274

Compensation

Mr. Scott H. Keeney founded nLIGHT, Inc. (formerly, nLIGHT Corporation) in July 2000 and serves as its Chief Executive Officer, President and Director since July 2000. Mr. Keeney has been Chairman of nLIGH ...


CEO Compensation Analysis

Compensation vs. Market: Insufficient data to establish whether Scott's total compensation is reasonable compared to companies of similar size in the US market.

Compensation vs Earnings: Scott's compensation has increased by more than 20% in the past year.


Management Age and Tenure

12.7yrs

Average Tenure

54yo

Average Age

Experienced Management: LASR's management team is seasoned and experienced (12.7 years average tenure).


Board Age and Tenure

5.3yrs

Average Tenure

61yo

Average Age

Experienced Board: LASR's board of directors are considered experienced (5.3 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

SellUS$4,590,00026 Mar 19
Mohr Davidow Ventures
EntityCompany
Shares200,000
Max PriceUS$22.95
SellUS$619,08021 Nov 18
David Osborne
EntityIndividual
Shares33,000
Max PriceUS$18.76

Ownership Breakdown


Management Team

  • Jason Willey

    Senior Director of Investor Relations and Corporate Development

    • Tenure: 0yrs
  • Rob Martinsen (57yo)

    Chief Technology Officer

    • Tenure: 6.1yrs
    • Compensation: US$1.22m
  • Scott Keeney (54yo)

    Co-Founder

    • Tenure: 19.3yrs
    • Compensation: US$2.79m
  • Jason Farmer

    Co-Founder

    • Tenure: 19.8yrs
  • Bill Willson

    Managing Director of Fiber Division

    • Tenure: 0yrs
    • Compensation: US$109.14k
  • Frank Pfeffer

    Managing Director of Industrial Laser Systems

    • Tenure: 0yrs
  • Ran Bareket (53yo)

    VP & CFO

    • Tenure: 1.8yrs
    • Compensation: US$2.63m
  • Kerry Hill

    VP of Finance & Secretary

    • Tenure: 0yrs
  • David Pickett

    Chief Operating Officer

    • Tenure: 0yrs
  • Matthew Randall

    Vice President of Sales & Marketing

    • Tenure: 0yrs

Board Members

  • Doug Carlisle (61yo)

    Independent Director

    • Tenure: 18.5yrs
    • Compensation: US$53.50k
  • Bandel Carano (57yo)

    Independent Director

    • Tenure: 18.5yrs
    • Compensation: US$12.75k
  • Geoffrey Moore (72yo)

    Independent Director

    • Tenure: 7.1yrs
    • Compensation: US$55.00k
  • Bill Gossman (57yo)

    Director

    • Tenure: 3.4yrs
    • Compensation: US$132.25k
  • Ray Link (65yo)

    Lead Independent Director

    • Tenure: 0yrs
    • Compensation: US$59.88k
  • Gary Locke (69yo)

    Independent Director

    • Tenure: 2.2yrs
    • Compensation: US$52.75k
  • Scott Keeney (54yo)

    Co-Founder

    • Tenure: 19.3yrs
    • Compensation: US$2.79m

Company Information

nLIGHT, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: nLIGHT, Inc.
  • Ticker: LASR
  • Exchange: NasdaqGS
  • Founded: 2000
  • Industry: Electronic Equipment and Instruments
  • Sector: Tech
  • Market Cap: US$534.035m
  • Shares outstanding: 37.69m
  • Website: https://www.nlight.net

Number of Employees


Location

  • nLIGHT, Inc.
  • 5408 Northeast 88th Street
  • Building E
  • Vancouver
  • Washington
  • 98665
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
LASRNasdaqGS (Nasdaq Global Select)YesCommon StockUSUSDApr 2018

Biography

nLIGHT, Inc. designs, develops, and manufactures semiconductor and fiber lasers used in the industrial, microfabrication, and aerospace and defense markets. The company also produces optical fiber products ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/18 00:55
End of Day Share Price2019/10/17 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.