3d Systems Corp

DDD

Services-Prepackaged Software

Mkt Cap

$477.6M

PE

-4.97

Debt

$451.5M

Cash

$447.1M

EV

$482M

FCF

-$114.3M

Market Cap

$477.6M

P/E Ratio

-4.97

Debt

$451.5M

Cash

$447.1M

EV

$482M

FCF

-$114.3M

Charts data: {"Earnings":[{"time":"2014-12-30","value":11637000},{"time":"2015-12-30","value":-663925000},{"time":"2016-12-30","value":-39265000},{"time":"2017-12-30","value":-66191000},{"time":"2018-12-30","value":-45505000},{"time":"2019-12-30","value":-69880000},{"time":"2020-12-30","value":-149594000},{"time":"2021-12-30","value":322052000},{"time":"2022-12-30","value":-123307000}],"Sales":[{"time":"2014-12-30","value":653652000},{"time":"2015-12-30","value":666163000},{"time":"2016-12-30","value":632965000},{"time":"2017-12-30","value":646069000},{"time":"2018-12-30","value":687660000},{"time":"2019-12-30","value":629094000},{"time":"2020-12-30","value":557240000},{"time":"2021-12-30","value":615639000},{"time":"2022-12-30","value":538031000}],"Net Margins":[{"time":"2014-12-30","value":0.017803051164840007},{"time":"2015-12-30","value":-0.996640461868942},{"time":"2016-12-30","value":-0.06203344576714352},{"time":"2017-12-30","value":-0.10245190529184964},{"time":"2018-12-30","value":-0.06617369048657767},{"time":"2019-12-30","value":-0.11108037908484265},{"time":"2020-12-30","value":-0.26845524370109825},{"time":"2021-12-30","value":0.5231182559909298},{"time":"2022-12-30","value":-0.22918196163418092}],"Assets":[{"time":"2014-12-30","value":1525970000},{"time":"2015-12-30","value":893275000},{"time":"2016-12-30","value":849153000},{"time":"2017-12-30","value":896764000},{"time":"2018-12-30","value":825832000},{"time":"2019-12-30","value":807312000},{"time":"2020-12-30","value":733055000},{"time":"2021-12-30","value":1549099000},{"time":"2022-12-30","value":1446613000}],"Stockholders Equity":[{"time":"2014-12-30","value":1294125000},{"time":"2015-12-30","value":655909000},{"time":"2016-12-30","value":629873000},{"time":"2017-12-30","value":618854000},{"time":"2018-12-30","value":578369000},{"time":"2019-12-30","value":522159000},{"time":"2020-12-30","value":430723000},{"time":"2021-12-30","value":842381000},{"time":"2022-12-30","value":749944000}],"ROE":[{"time":"2014-12-30","value":0.008992176180817154},{"time":"2015-12-30","value":-1.012221207515067},{"time":"2016-12-30","value":-0.062337963367218474},{"time":"2017-12-30","value":-0.10695737605315632},{"time":"2018-12-30","value":-0.07867814492132186},{"time":"2019-12-30","value":-0.13382896780482573},{"time":"2020-12-30","value":-0.34730905941869833},{"time":"2021-12-30","value":0.3823115668563275},{"time":"2022-12-30","value":-0.16442161014689097}],"ROA":[{"time":"2014-12-30","value":0.01724476890109242},{"time":"2015-12-30","value":-0.7186185665108729},{"time":"2016-12-30","value":-0.04524508539686017},{"time":"2017-12-30","value":-0.06018640355768073},{"time":"2018-12-30","value":-0.05090623758827461},{"time":"2019-12-30","value":-0.07073349584794975},{"time":"2020-12-30","value":-0.1622838668312746},{"time":"2021-12-30","value":0.20627474422228664},{"time":"2022-12-30","value":-0.08089171049893787}]}

3D Systems Corporation provides 3D printing and digital manufacturing solutions in the Americas, Europe, the Middle East, Africa, the Asia Pacific, and internationally. The company offers 3D printers technologies, such as stereolithography, selective laser sintering, direct metal printing, multi jet printing, color jet printing, polymer extrusion, and extrusion and SLA based bioprinting that transform digital data input generated by 3D design software, computer aided design (CAD) software, or other 3D design tools into printed parts. It also develops, blends, and markets various print materials, such as plastic, nylon, metal, composite, elastomeric, wax, polymeric dental materials, and biocompatible materials. In addition, the company provides digital design tools, including software, scanners, and haptic devices, as well as solutions for product design, simulation, mold and die design, 3D scan-to-print, reverse engineering, production machining, metrology, and inspection and manufacturing workflows under the Geomagic brand. Further, it offers 3D Sprint and 3DXpert, a proprietary software to prepare and optimize CAD data and manage the additive manufacturing processes, which provides automated support building and placement, build platform management, print simulation, and print queue management; and Bioprint Pro, a software solution that allows researchers to design and bioprint repeatable experiments. Additionally, the company provides maintenance and training services; manufacturing services; and software and precision healthcare services. It primarily serves companies and small and midsize businesses in medical, dental, automotive, aerospace, durable goods, government, defense, technology, jewelry, electronic, education, consumer goods, energy, biotechnology, and other industries through direct sales force, channel partners, and appointed distributors. 3D Systems Corporation was founded in 1986 and is headquartered in Rock Hill, South Carolina.

Sector

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Chart P/E ratio

In the chart Earnings are multiplied by this value.

Earnings Growth -38%

Earnings Stability -38%

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

The Net Margin is too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Over time the ROA has been increasing indicating a higher marginal ROA with respect to the calculated one, giving a good sign for continued growth.

Years	12-2014	12-2015	12-2016	12-2017	12-2018	12-2019	12-2020	12-2021	12-2022	TTM
Net Margin	1.8%	-100%	-6.2%	-10%	-6.6%	-11%	-27%	52%	-23%	-19%
ROA	1.7%	-72%	-4.5%	-6%	-5.1%	-7.1%	-16%	21%	-8.1%	-6%
ROE	0.9%	-100%	-6.2%	-11%	-7.9%	-13%	-35%	38%	-16%	-14%

What is the average Net Margin?

The average Net Margin over the past 5 years is -4.24%.

What is the trend of Net Margin?

The trend of Net Margin over the past 5 years is +2.79%.

What is the average Return on Assets (ROA)?

The average ROA over the past 5 years is -3.65%.

What is the trend of Return on Assets (ROA)?

The trend of ROA over the past 5 years is +1.65%.

What is the average Return on Equity (ROE)?

The average ROE over the past 5 years is -7.48%.

What is the trend of Return on Equity (ROE)?

The trend of ROE over the past 5 years is +2.52%.

Safety & Stabiliy

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Under the assumption that FCF does not diminish and debt does not increase, the current years to repay the debt are acceptable.

The Graham’s stability indicate a relevant drawdown, consider checking when it has occured and why.

Years	12-2014	12-2015	12-2016	12-2017	12-2018	12-2019	12-2020	12-2021	12-2022	TTM
Debt FCF	-	-0.02	0.01	-0.13	-0.70	6.28	-0.63	15.22	-4.94	-3.95
Debt Equity	0.00	0.00	0.00	0.00	0.04	0.09	0.05	0.53	0.60	0.65
MIN
Graham Stability	-	-	-	-	-	-	-	-	-360%	-360%

What is the Debt/FCF?

The Debt/FCF trailing twelve month is -3.95.

What is the trend of Debt/FCF?

The trend of Debt/FCF over the past 5 years is 0.48.

What is the Graham’s Stability?

Graham’s Stability measure stands at -3.61.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Data are missing

Years	12-2015	12-2017	12-2019	12-2021	Trend
Revenue	-3%	-3.6%	-5.1%	-13%	-0.95%
Net Income	-	-	-	-	-
Stockholders Equity	1.9%	3.9%	13%	-11%	8.5%
FCF	-	-	-	-	-

What is the 5 year Revenue CAGR?

The Revenue CAGR over the past 5 years is -3.59%.

What is the trend of Revenue growth?

The trend of Revenue growth rate over the past 5 years is -0.95%.

What is the 5 year Earnings CAGR?

The Earnings CAGR over the past 5 years is +13.25%.

What is the trend of Earnings growth?

The trend of Earnings growth rate over the past 5 years is -.

What is the 5 year Equity CAGR?

The Equity CAGR over the past 5 years is +3.92%.

What is the trend of Equity growth?

The trend of Equity growth rate over the past 5 years is +8.52%.

What is the 5 year FCF CAGR?

The FCF CAGR over the past 5 years is +79.06%.

What is the trend of FCF growth?

The trend of FCF growth rate over the past 5 years is -.