LASRNasdaqSemiconductors & Related DevicesFiscal year ends December 31
NLIGHT, INC.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 7, 2026
$34.79+1.12 (+3.33%)
Close on Oct 19, 2026
- Market cap
- $1.98B
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2015 to 2025
Gross margin
29.8%+3.2 pts over 5 years
Operating margin
-10.2%−0.7 pts over 5 years
Net margin
-9.0%+0.4 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +31.6% | +2.6% | +3.2% | – | |
| Gross profit | +136.1% | +15.3% | +5.6% | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | -46.0% | -9.6% | -10.6% | |
| Return on assets | – | -7.8% | -8.0% | |
| Current ratio | – | 4.85 | 3.79 | |
| Debt to equity | – | 0.00 | – | |
| Net debt to EBITDA | – | – | – | |
| Interest coverage | – | – | -24.5× | |
| Inventory turnover | – | 3.2× | 4.3× | |
| Capex to revenue | 4.0% | 10.5% | 3.5% | |
| Diluted shares | 3M | 38M | 50M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Nlight generated $55.77M from operations and spent $63.01M on capital expenditure, dividends and share buybacks. 100% of that went back into the business.
Generated
$55.77M
Used
$63.01M
Capital expenditure$63.01M100%Dividends$00%Share buybacks$00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-9.0%
×Asset turnover0.89×
×Equity multiplier1.32×
=Return on equity, FY2025-10.6%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | -9.0% | 0.89× | 1.32× | -10.6% |
| FY2024 | -30.6% | 0.69× | 1.23× | -25.8% |
| FY2023 | -19.9% | 0.66× | 1.21× | -15.9% |
| FY2022 | -22.5% | 0.69× | 1.23× | -19.1% |
| FY2021 | -11.0% | 0.82× | 1.26× | -11.4% |
| FY2020 | -9.4% | 0.84× | 1.22× | -9.6% |
| FY2019 | -7.3% | 0.71× | 1.15× | -5.9% |
| FY2018 | 7.3% | 1.06× | 1.29× | 10.0% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
5of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero-$23.47M
- Cash generatingOperating cash flow above zero$21.33M
- Return on assets improvedROA up on the prior year-19.8% → -8.7%
- Earnings backed by cashOperating cash flow above net income$21.33M vs -$23.47M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose5.67 → 3.79
- No dilutionShare count did not rise48M → 50M
- Gross margin improvedGross margin up on the prior year16.63% → 29.83%
- More efficientAsset turnover rose0.65 → 0.97