LPKF Laser & Electronics AG (LPKFF) Stock Analysis & Winston Score

LPKF Laser & Electronics AG is a German company that makes specialized laser systems used in manufacturing. Its machines help factories cut, drill, and process materials like circuit boards, plastics, and glass with high precision. The main customers are electronics manufacturers, automotive suppliers, and solar panel makers who need very accurate cutting tools.

LPKF earns money by selling laser equipment and related services, including maintenance contracts and spare parts. The company is based in Garbsen, Germany, and sells its systems globally, with strong presence in Europe and Asia. Its competitive edge comes from deep engineering expertise in niche laser applications that require high precision, making it harder for generic equipment makers to compete directly. However, the company is currently unprofitable, with negative operating and returns on capital, which reflects weak demand and high fixed costs — the key risk is whether industrial spending recovers fast enough to return LPKF to profitability before its financial position deteriorates further.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-32.3% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-66.7% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$18M/ year

15.7% of revenue

3.9x the sector average (4%)

Research and development spending

Insider Activity

0.0%ownership

Relatively low insider ownership

Cash Runway

~3 months

$6M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Short runway — potential dilution ahead through share issuance

Cash watch

LPKF Laser & Electronics AG has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Share count broadly stable

0.0% over 4y

The share count has stayed roughly flat over this period — little dilution or buyback activity.

Diluted shares outstanding: 24.5M (2021) → 24.5M (2025)

Score breakdown

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Quality

Gross Margin

-15.4%

Thin — -15.4% gross margin

Operating Margin

-40.7%

Losing money on operations — -40.7%

ROCE

-8.8%

Weak — -8.8% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales YoY

-12.7%

Shrinking sales (-12.7% YoY)

EPS YoY

N/A

Data not available

EPS Consistency

2/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

N/A

Data not available

FCF Margin

9.1%

Modest free cash flow (9.1%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

Debt / Equity

0.11

Conservative — low debt load (0.11)

Interest Cover

N/A

Data not available

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Valuation

P/E Ratio (TTM)

N/M

Negative earnings — P/E not meaningful

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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