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NLIGHT, INC.

LASR

$29.39 ▼ -3.59 (-10.89%) at close

11 Visible periods

31 Metrics

Peer-ranked Benchmarks

Price Chart

Health

Poor

Bearish

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Analytical Summary

NLIGHT, INC. faces fundamental challenges with weakness in Profit Margin (%) and Operating Margin (%). The fundamentals warrant careful consideration of downside risks.

Market Cap $1.5B

Dividend Yield —

Revenue Growth 31.6% ↗

Op. Margin -10.2% ↗

ROIC -12.1% ↗

FCF / Share $0.25 ↗

Trailing P/E —

Price / Book 6.6x

FCF Yield 0.8%

Debt / Equity —

info Valuation on last close. End-of-day price, Nov 5, 2026.

11-Year Financial Trajectory

Annual

Metric Value Trend Year over Year Percentile

Revenue Total top-line sales

$261.33M

↑ +31.6% —

Net Income Profit after all expenses

$-23.47M

↑ +61.4% —

Operating Margin Operating profit as % of sales

-10.2%

↑ +69.3% 15th

FCF / Share Free cash flow per share

$0.25

↑ +214.5% —

Long-Term Debt Long-term obligations

$0.00

↓ -100.0% —

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Bullish Indicators

No bullish signals detected.

warning

Bearish Risks

Operating Margin (%)Operating Margin (%) is in the bottom quartile
Profit Margin (%)Profit Margin (%) is in the bottom quartile

Health Breakdown

Profitability ↑

Returns ↓

Cash Quality

Financial view

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📈 Is growth accelerating? 6 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗
Revenue Growth YoY (%)	31.6% Excellent ↑ Excellent Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+164%)	-5.4% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-145%)	-13.3% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-211%)	-10.4% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-187%)	21.3% Excellent ↑ Excellent Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+77%)	26.1% Excellent ↑ Excellent Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+118%)	-7.7% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-164%)	38.1% Excellent Excellent Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+217%)	36.8% Excellent Excellent Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+206%)	—	—
EPS Growth YoY (%)	63.0% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	-41.1% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	26.8% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	-75.7% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	-27.3% Weak Weak Year-over-year change in earnings per share Optimal: > 10%	-57.1% Weak Weak Year-over-year change in earnings per share Optimal: > 10%	N/M	—	100.0% Excellent Excellent Year-over-year change in earnings per share Optimal: > 10%	—	—
Net Income Growth YoY (%)	61.4% Excellent ↑ Excellent Improving Year-over-year change in net income	-45.9% Weak ↓ Weak Declining Year-over-year change in net income	23.7% Good ↑ Good Improving Year-over-year change in net income	-84.0% Weak ↓ Weak Declining Year-over-year change in net income	-41.7% Weak ↓ Weak Declining Year-over-year change in net income	-62.5% Weak Weak Year-over-year change in net income	N/M	658.7% Excellent Excellent Year-over-year change in net income	N/M	—	—
FCF Growth YoY (%)	N/M	N/M	N/M	-27.3% Weak ↑ Weak Improving Year-over-year change in free cash flow	-134.8% Weak ↓ Weak Declining Year-over-year change in free cash flow	39.7% Excellent ↑ Excellent Improving Year-over-year change in free cash flow	N/M	-89.2% Weak Weak Year-over-year change in free cash flow	-47.7% Weak Weak Year-over-year change in free cash flow	—	—
Revenue CAGR 3Y (%)	2.6% Caution ↑ Caution Improving Compound annual revenue growth over 3 years	-9.8% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	-2.0% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	11.1% Good ↓ Good Declining Compound annual revenue growth over 3 years	12.2% Good ↓ Good Declining Compound annual revenue growth over 3 years	17.1% Excellent Excellent Compound annual revenue growth over 3 years	20.3% Excellent Excellent Compound annual revenue growth over 3 years	—	—	—	—
Revenue CAGR 5Y (%)	3.2% Caution ↓ Caution Declining Compound annual revenue growth over 5 years	2.4% Caution ↓ Caution Declining Compound annual revenue growth over 5 years	1.9% Caution ↓ Caution Declining Compound annual revenue growth over 5 years	11.8% Good Good Compound annual revenue growth over 5 years	21.7% Excellent Excellent Compound annual revenue growth over 5 years	—	—	—	—	—	—

💰 Are margins durable? 5 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗
Operating Margin (%) (%)	-10.2% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-151%)	-33.1% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-265%)	-22.3% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-211%)	-22.8% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-214%)	-11.2% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-156%)	-9.4% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-147%)	-5.6% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-128%)	8.9% Caution ↑ Caution Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-55%)	7.1% Caution Caution Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-65%)	-9.2% Weak Weak Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-146%)	—
Effective Tax Rate (%) (%)	-3.1% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	0.1% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	2.3% Excellent ↑ Excellent Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	-0.6% Excellent ↑ Excellent Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	1.2% Excellent ↑ Excellent Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	-1.7% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	-90.5% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	20.5% Good ↓ Good Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	72.6% Weak Weak Actual taxes paid relative to pre-tax income Optimal: 15-25%	-15.3% Excellent Excellent Actual taxes paid relative to pre-tax income Optimal: 15-25%	—
Profit Margin (%) (%)	-9.0% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-160%)	-30.6% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-304%)	-19.9% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-232%)	-22.5% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-250%)	-11.0% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-173%)	-9.4% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-163%)	-7.3% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-149%)	7.3% Caution ↑ Caution Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-51%)	1.3% Weak Weak Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-91%)	-14.0% Weak Weak Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-193%)	—
FCF Margin (%) (%)	4.7% Weak ↑ Weak Improving Free cash flow as a percentage of revenue Optimal: > 10%	-5.2% Weak ↑ Weak Improving Free cash flow as a percentage of revenue Optimal: > 10%	2.3% Weak ↑ Weak Improving Free cash flow as a percentage of revenue Optimal: > 10%	-14.8% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	-9.9% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	-4.7% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	-9.4% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	1.7% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	2.5% Weak Weak Free cash flow as a percentage of revenue Optimal: > 10%	5.9% Caution Caution Free cash flow as a percentage of revenue Optimal: > 10%	—
FCF / Net Income (x)	-0.52x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	0.17x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	-0.11x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	0.66x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	0.90x Caution ↑ Caution Improving Free cash flow relative to reported net income Optimal: > 1x	0.50x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	1.29x Good ↑ Good Improving Free cash flow relative to reported net income Optimal: > 1x	0.24x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	1.86x Excellent Excellent Free cash flow relative to reported net income Optimal: > 1x	-0.42x Weak Weak Free cash flow relative to reported net income Optimal: > 1x	—

🎯 Is capital allocation efficient? 3 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗
Return on Invested Capital (%)	-12.1% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	-30.3% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-18.0% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-20.5% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-9.9% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-9.7% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-8.7% Weak → Weak Stable Return earned on debt + equity capital invested Optimal: > 10%	6.2% Caution ↑ Caution Improving Return earned on debt + equity capital invested Optimal: > 10%	3.4% Weak Weak Return earned on debt + equity capital invested Optimal: > 10%	-36.3% Weak Weak Return earned on debt + equity capital invested Optimal: > 10%	—
Return on Capital (%) (%)	-8.4% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-24.3% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-15.2% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-16.7% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-8.1% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-7.4% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-4.0% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	6.8% Caution Caution Operating profit relative to total assets Optimal: > 10%	8.9% Fair Fair Operating profit relative to total assets Optimal: > 10%	—	—
Return on Common Equity (%) (%)	-10.3% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-156%)	-28.1% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-252%)	-16.4% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-189%)	-20.2% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-209%)	-9.8% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-153%)	-9.5% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-151%)	-5.9% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-132%)	6.4% Caution ↑ Caution Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-65%)	3.0% Weak Weak Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-84%)	-47.8% Weak Weak Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-359%)	—

⚖️ Is the balance sheet risky? 4 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗
Debt to Equity (x)	—	—	—	—	0.00x Excellent ↓ Excellent Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-100%)	0.00x Excellent ↓ Excellent Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-100%)	0.00x Excellent ↓ Excellent Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-100%)	0.00x Excellent Excellent Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-100%)	0.29x Excellent Excellent Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-37%)	—	—
Interest Coverage (x)	—	—	—	—	—	—	—	18.13x Excellent ↑ Excellent Improving Operating income divided by interest expense Optimal: > 5x	6.82x Good Good Operating income divided by interest expense Optimal: > 5x	-4.53x Weak Weak Operating income divided by interest expense Optimal: > 5x	—
Net Debt (USD)	$-98.70M	$-65.83M	$-53.21M	$-57.83M	$-146.53M	$-102.07M	$-117.25M	$-149.37M	$-19.22M	$-13.50M	$-6.86M
Debt / EBITDA (x)	—	—	—	—	0.00x Excellent ↑ Excellent Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	-0.02x Excellent ↓ Excellent Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	0.00x Excellent ↓ Excellent Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	0.00x Excellent Excellent Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	0.99x Excellent Excellent Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	—	—

📊 What does each share earn? 6 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗
Revenue per Share (USD)	$5.23	$4.15	$4.56	$5.45	$6.41	$5.81	$4.76	$7.70	$50.67	$40.53	—
Basic EPS, GAAP (USD)	$-0.47	$-1.27	$-0.90	$-1.23	$-0.70	$-0.55	$-0.35	$0.38	$0.00	$-5.68	—
Free Cash Flow per Share (USD)	$0.25	$-0.21	$0.10	$-0.81	$-0.63	$-0.27	$-0.45	$0.13	$1.25	$2.38	—
Book Value per Share (USD)	$4.43	$4.42	$5.38	$5.94	$6.83	$5.53	$5.69	$5.93	$20.57	$11.88	—
Tangible Book Value per Share (USD)	$4.19	$4.17	$5.12	$5.66	$6.55	$5.21	$5.43	$5.90	$20.11	$11.88	—
Basic Weighted Avg Shares (shares)	49.98M	47.90M	46.08M	44.44M	42.14M	38.37M	37.12M	24.86M	2.73M	2.50M	—

🏦 How resilient is the balance sheet? 3 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗
Working Capital (USD)	$178.98M	$159.85M	$187.80M	$196.26M	$231.43M	$159.21M	$173.56M	$195.03M	$55.69M	—	—
LT Debt (USD)	—	—	—	—	$0.00	$215.00K	$0.00	$109.00K	$17.47M	—	—
Total Equity (USD)	$226.75M	$216.43M	$254.42M	$270.85M	$302.13M	$219.91M	$216.61M	$217.78M	$61.28M	$29.69M	$32.09M

📋 What is driving earnings? 4 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗
Sales/Revenue/Turnover (USD)	$261.33M	$198.55M	$209.92M	$242.06M	$270.15M	$222.79M	$176.62M	$191.36M	$138.58M	$101.33M	—
Depreciation Expense (USD)	$12.33M	$12.99M	$12.40M	$11.09M	$9.18M	$7.71M	$6.58M	$8.29M	$7.92M	$8.10M	—
Net Income, GAAP (USD)	$-23.47M	$-60.79M	$-41.67M	$-54.58M	$-29.67M	$-20.93M	$-12.88M	$13.94M	$1.84M	$-14.20M	—
Operating Cash Flow (USD)	$21.33M	$-2.36M	$10.09M	$-14.54M	$-7.44M	$13.04M	$-4.24M	$3.33M	$3.41M	$5.96M	—

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bar_chart Data from SEC EDGAR XBRL filings

Synced 4 days ago 11 years · 40 quarters

NLIGHT, INC.

Analytical Summary

11-Year Financial Trajectory

Bullish Indicators

Bearish Risks

Health Breakdown

Statement lens

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Signals

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