Proto Labs Inc

Industrials
Metal Fabrications
www.protolabs.com

Earnings Score
Moat Score

Market Cap $1.05B
PE 44
Debt $NaN
Cash $87.87M
EV $NaN
FCF $51.24M

Earnings

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Sales & Net Margins

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Earnings	$23.99M
EBIT	$33.35M
ROE	4%
ROA	4%
FCF	$51.24M
Equity	$679.99M
Growth Stability	-210%
PE	43.61
PEG	-3.46
PB	1.54
P/FCF	20.41
P/S	2.07
Price/Cash	0.08
Net Margins	4%
Gross Margins	45%
Op. Margins	7%
Earnings CAGR	-5%
Sales Growth YoY	-4%
Sales Growth QoQ	-0%
Sales CAGR	7%
FCF CAGR	4%
Equity CAGR	11%
Earnings Stability	0.22
Earnings Growth YoY	-10%

Earnings Growth QoQ	58%
Earnings CAGR 5Y	-13%
Sales CAGR 5Y	3%
FCF CAGR 5Y	-2%
Equity CAGR 5Y	2%
Earnings CAGR 3Y	1%
Sales CAGR 3Y	1%
FCF CAGR 3Y	18%
Equity CAGR 3Y	-8%
Market Cap	$1.05B
Revenue	$504.19M
Assets	$753.79M
Cash	$87.87M
Shares Outstanding	24.51M
Earnings Score	4%
Moat Score	54%
Working Capital	139.32M
Current Ratio	3.59
Gross Profit	$227.06M
Shares Growth 3y	-4%
Equity Growth QoQ	-1%
Equity Growth YoY	-1%

Assets & ROA

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Stockholders Equity & ROE

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Proto Labs Inc is an on-demand manufacturer of custom parts for prototyping and short-run production. The company offers developers and engineers quick-turn production services to reduce the time to market. Proto Labs uses injection molding, computer numerical control machining, and 3-D printing to manufacture custom parts for its clients. The company services clients' needs for prototype solutions, parts for testing procedures, bridge production capabilities during disruptions in manufacturing processes, limited-quantity requests, and end-of-life production support. The largest end market is the United States of America.

SEC Filings

Direct access to Proto Labs Inc (PRLB) 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 Proto Labs Inc compare to its competitors?

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Peter Lynch's Chart

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

CAGR -5%

Stability 22%

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Proto Labs Inc Discounted Cash Flow

Fully customizable DCF calculator online for Proto Labs Inc.

Years

Calculation mode

= $682M

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$51M	$53M	$56M	$58M	$60M	$63M	$65M	$68M	$71M	$74M	$77M	$771M
DCF		$49M	$46M	$44M	$41M	$39M	$37M	$35M	$33M	$31M	$30M	$297M
Value	$682M

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	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Net Margins	20%	18%	14%	15%	17%	14%	12%	7%	-21%	3%	4%
ROA	-	19%	16%	14%	15%	12%	8%	4%	-12%	4%	4%
ROE	-	14%	11%	11%	14%	11%	8%	4%	-15%	2%	4%

Bad Net Margins (4.48%)

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	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Debt over FCF	-	0	0	0.1	-	-	-	-	-	-	-
Debt over Equity	0	0	0	0.01	-	-	-	-	-	-	-
Growth Stability	-	-	-	100%	100%	100%	79%	52%	-210%	-	-210%

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.

Bad Graham’s Stability (-210%)

The company has a bad stability in its earnings, which is a sign of a bad 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	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	CAGR 5Y
Revenue YoY growth	-	26%	13%	16%	29%	3%	-5%	12%	0%	3%	3%
Earnings YoY growth	-	12%	-8%	21%	48%	-17%	-20%	-34%	-410%	-117%	-13%
Equity YoY growth	-	23%	16%	21%	17%	8%	10%	29%	-16%	-0%	2%
FCF YoY growth	-	44%	122%	12%	-27%	50%	11%	-65%	92%	12%	-2%