Nlight, Inc.

Technology
Semiconductors
www.nlight.net

Earnings Score
Moat Score

Market Cap $524.95M
PE -11
Debt $NaN
Cash $41.71M
EV $NaN
FCF -$4.33M

Earnings

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Sales & Net Margins

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Earnings	-$49.07M
EBIT	-$48.52M
ROE	-21%
ROA	-17%
FCF	-$4.33M
Equity	$235.27M
Growth Stability	1
PE	-10.7
PB	2.23
P/FCF	-121.12
P/S	2.59
Price/Cash	0.08
Net Margins	-24%
Gross Margins	21%
Op. Margins	-24%
Earnings CAGR	-0%
Sales Growth YoY	11%
Sales Growth QoQ	11%
Sales CAGR	5%
FCF CAGR	0%
Equity CAGR	18%
Earnings Stability	-0.24
Earnings Growth YoY	-13%

Earnings Growth QoQ	-12%
Sales CAGR 5Y	1%
FCF CAGR 5Y	1%
Equity CAGR 5Y	2%
Earnings CAGR 3Y	-12%
Sales CAGR 3Y	-12%
FCF CAGR 3Y	28%
Equity CAGR 3Y	-9%
Market Cap	$524.95M
Revenue	$203.06M
Assets	$291.29M
Cash	$41.71M
Shares Outstanding	47.68M
Earnings Score	6%
Moat Score	3%
Working Capital	174.64M
Current Ratio	5.83
Gross Profit	$41.69M
Shares Growth 3y	4%
Equity Growth QoQ	-2%
Equity Growth YoY	-9%

Assets & ROA

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Stockholders Equity & ROE

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nLight Inc is a United States-based company engaged in providing semiconductor and fiber lasers for industrial, microfabrication, and aerospace and defense applications. It operates in two segments: Laser Products, which includes semiconductor lasers, fiber lasers, and directed energy products; and Advanced Development segment includes revenue earned from research and development contracts. The majority of its revenue is generated from the Laser segment. The company's geographical segments include North America, China, and the Rest of the world.

SEC Filings

Direct access to Nlight, Inc. (LASR) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Nlight, Inc. compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Nlight, Inc. compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR -0%

Stability -24%

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Nlight, Inc. Discounted Cash Flow

Fully customizable DCF calculator online for Nlight, Inc..

Years

Calculation mode

= -$44M

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	-$4.3M	-$4.3M	-$4.3M	-$4.3M	-$4.4M	-$4.4M	-$4.4M	-$4.4M	-$4.4M	-$4.4M	-$4.4M	-$44M
DCF		-$3.9M	-$3.6M	-$3.3M	-$3M	-$2.7M	-$2.5M	-$2.2M	-$2M	-$1.9M	-$1.7M	-$17M
Value	-$44M

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.

Years	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Net Margins	-14%	0%	5%	-7%	-9%	-11%	-23%	-20%	-24%
ROA	-	9%	7%	-3%	-7%	-8%	-16%	-14%	-17%
ROE	-	0%	4%	-6%	-10%	-10%	-20%	-16%	-21%

Bad Net Margins (-23.7%)

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

Safety and Stability

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.

Years	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Debt over FCF	-	-9.57	-0.03	-0	-0.04	-0	-	-	-
Debt over Equity	-	0.32	0	0	0	0	-	-	-
Growth Stability	-	-	-	-	-	-	-	-	1

Neutral Debt/FCF ratio (-)

Net Margins are at a level that is not too high nor too low. They are not a competitive advantage but they are not a competitive disadvantage either.

Neutral Debt/Equity ratio (-)

The company has a balance between equity and debt that is not too good nor too bad.

Good Graham’s Stability (1)

The company has a good stability in its earnings, which is a sign of a good competitive advantage.

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.

Years	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	CAGR 5Y
Revenue YoY growth	-	37%	38%	-8%	26%	21%	-10%	-13%	1%
Earnings YoY growth	-	-100%	-	-235%	62%	42%	84%	-24%	-
Equity YoY growth	-	106%	255%	-1%	2%	37%	-10%	-6%	2%
FCF YoY growth	-	-209%	304%	113%	-42%	158%	34%	-113%	1%