LPTHNasdaqSemiconductors & Related DevicesFiscal year ends June 30
LIGHTPATH TECHNOLOGIES INC
Financials through Q4 FY2026, quarter ended Jun 30, 2026Last filing: 10-K on Sep 11, 2026
$7.50−0.16 (-2.09%)
Close on Oct 19, 2026
- Market cap
- $485.84M
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2012 to 2026
Gross margin
36.0%+1.0 pts over 5 years
Operating margin
-27.4%−22.6 pts over 5 years
Net margin
-28.6%−20.4 pts over 5 years
Growth rates
Compound annual growth to fiscal 2026
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +92.8% | +29.6% | +13.3% | +15.3% | |
| Gross profit | +154.7% | +32.6% | +13.9% | +10.7% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2017 | FY2021 | FY2026 | Trend |
|---|---|---|---|---|
| Return on equity | 37.9% | -9.3% | -24.9% | |
| Return on assets | 24.7% | -6.2% | -14.9% | |
| Current ratio | 3.43 | 2.45 | 4.96 | |
| Debt to equity | 0.33 | 0.12 | – | |
| Net debt to EBITDA | 0.30× | -1.63× | – | |
| Interest coverage | 10.0× | -8.6× | – | |
| Inventory turnover | 3.1× | 2.8× | 3.0× | |
| Capex to revenue | 7.8% | 8.2% | 8.7% | |
| Diluted shares | 22M | 26M | 53M |
Where the cash went
Fiscal 2022 to 2026, five years combined
Lightpath Technologies generated $23.35M from operations and spent $14.42M on capital expenditure, dividends and share buybacks. 100% of that went back into the business.
Generated
$23.35M
Used
$14.42M
Capital expenditure$14.42M100%Dividends$00%Share buybacks$00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-28.6%
×Asset turnover0.52×
×Equity multiplier1.67×
=Return on equity, FY2026-24.9%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2026 | -28.6% | 0.52× | 1.67× | -24.9% |
| FY2025 | -40.0% | 0.57× | 2.83× | -64.9% |
| FY2024 | -25.2% | 0.62× | 1.54× | -24.2% |
| FY2023 | -12.3% | 0.63× | 1.59× | -12.3% |
| FY2022 | -10.0% | 0.68× | 1.66× | -11.2% |
| FY2021 | -8.3% | 0.75× | 1.50× | -9.3% |
| FY2020 | 2.5% | 0.75× | 1.38× | 2.5% |
| FY2019 | -7.9% | 0.73× | 1.35× | -7.8% |
| FY2018 | 3.3% | 0.69× | 1.44× | 3.3% |
| FY2017 | 27.2% | 0.91× | 1.53× | 37.9% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2026 against fiscal 2025
5of 8 tests passed in fiscal 2026. Some tests lack the figures they need.
- ProfitableNet income above zero-$20.55M
- Cash generatingOperating cash flow above zero-$10.23M
- Return on assets improvedROA up on the prior year-30.9% → -25.2%
- Earnings backed by cashOperating cash flow above net income-$10.23M vs -$20.55M
- Less leverageLong-term debt to assets fell5.9% → –
- Better liquidityCurrent ratio rose1.66 → 4.96
- No dilutionShare count did not rise41M → 53M
- Gross margin improvedGross margin up on the prior year27.23% → 35.98%
- More efficientAsset turnover rose0.77 → 0.88