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Kopin Corporation (KOPN) 10-Year Financial Performance & Capital Metrics

KOPN • • Industrial / General
TechnologyTech Hardware & EquipmentDisplay & Visualization SystemsMicrodisplays & AR Systems
AboutKopin Corporation, together with its subsidiaries, invents, develops, manufactures, and sells microdisplays, subassemblies, head-mounted and hand-held systems, and related components for defense, enterprise, industrial, and consumer products in the United States, the Asia-Pacific, Europe, and internationally. It offers miniature active-matrix liquid crystal displays, liquid crystal on silicon displays/spatial light modulators, organic light emitting diode displays, application specific integrated circuits, backlights, and optical lenses; and headset systems. The company's products are used in soldier, avionic, armored vehicle and training, and simulation defense applications; industrial, public safety, and medical headsets; 3D optical inspection systems; and consumer augmented reality and virtual reality wearable headsets systems. Kopin Corporation was incorporated in 1984 and is headquartered in Westborough, Massachusetts.Show more
  • Revenue $50M +24.6%
  • EBITDA -$42M -156.3%
  • Net Income -$44M -122.2%
  • EPS (Diluted) -0.33 -83.3%
  • Gross Margin 20.6% -46.1%
  • EBITDA Margin -84.38% -105.7%
  • Operating Margin -85.64% -101.4%
  • Net Margin -87.17% -78.3%
  • ROE -166.23% -125.2%
  • ROIC -172.33% -203.5%
  • Debt/Equity 0.09 +8.1%
  • Interest Coverage -
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Company is almost debt free
  • ✓Momentum leader: RS Rating 88 (top 12%)
  • ✓Strong 5Y sales CAGR of 11.3%

✗Weaknesses

  • ✗Weak Piotroski F-Score: 2/9
  • ✗Negative free cash flow
  • ✗Low quality earnings: Net income not backed by cash flow
  • ✗Shares diluted 21.9% in last year
  • ✗Expensive at 16.9x book value

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y4.7%
5Y11.26%
3Y3.3%
TTM26999.77%

Profit (Net Income) CAGR

10Y-
5Y-
3Y-
TTM8506.48%

EPS CAGR

10Y-
5Y-
3Y-
TTM89.74%

ROCE

10Y Avg-52.41%
5Y Avg-61.52%
3Y Avg-85.38%
Latest-143.08%

Peer Comparison

Microdisplays & AR Systems
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
KOPNKopin Corporation522.02M2.96-8.9724.61%33.93%190.9%0.09

Profit & Loss

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Sales/Revenue+32.05M22.64M27.84M24.47M29.52M40.13M45.67M47.4M40.39M50.34M
Revenue Growth %0.01%-0.29%0.23%-0.12%0.21%0.36%0.14%0.04%-0.15%0.25%
Cost of Goods Sold+21.61M17.86M18.12M15.83M25.12M29.14M35.03M42.84M24.95M39.97M
COGS % of Revenue0.67%0.79%0.65%0.65%0.85%0.73%0.77%0.9%0.62%0.79%
Gross Profit+10.44M4.78M9.72M8.63M4.4M10.98M10.64M4.56M15.44M10.37M
Gross Margin %0.33%0.21%0.35%0.35%0.15%0.27%0.23%0.1%0.38%0.21%
Gross Profit Growth %-0.14%-0.54%1.03%-0.11%-0.49%1.5%-0.03%-0.57%2.38%-0.33%
Operating Expenses+35.77M33M39.42M44.66M30.78M15.75M24.41M26.35M32.62M53.48M
OpEx % of Revenue1.12%1.46%1.42%1.83%1.04%0.39%0.53%0.56%0.81%1.06%
Selling, General & Admin18.13M16.96M20.54M27.21M000021.84M0
SG&A % of Revenue0.57%0.75%0.74%1.11%----0.54%-
Research & Development17.63M16.04M18.88M17.45M13.35M11.67M16.29M18.67M10.78M9.64M
R&D % of Revenue0.55%0.71%0.68%0.71%0.45%0.29%0.36%0.39%0.27%0.19%
Other Operating Expenses000017.43M4.08M8.12M7.69M043.84M
Operating Income+-25.32M-20.45M-30.3M-39.66M-26.38M-4.76M-13.78M-21.79M-17.18M-43.11M
Operating Margin %-0.79%-0.9%-1.09%-1.62%-0.89%-0.12%-0.3%-0.46%-0.43%-0.86%
Operating Income Growth %0.11%0.19%-0.48%-0.31%0.33%0.82%-1.89%-0.58%0.21%-1.51%
EBITDA+-23.18M-19.46M-27.8M-37.7M-25.59M-4.11M-13.11M-21.07M-16.57M-42.47M
EBITDA Margin %-0.72%-0.86%-1%-1.54%-0.87%-0.1%-0.29%-0.44%-0.41%-0.84%
EBITDA Growth %0.09%0.16%-0.43%-0.36%0.32%0.84%-2.19%-0.61%0.21%-1.56%
D&A (Non-Cash Add-back)2.14M993.62K2.5M1.96M792.22K651.08K668.69K722.02K608.22K636.58K
EBIT-25.24M-28.17M-29.7M-36.02M-26.05M-4.76M-13.78M-21.79M-17.18M-18.31M
Net Interest Income+758.15K658.38K775.63K640.06K543.76K132.64K31.14K76.88K829.6K817.18K
Interest Income758.15K658.38K775.63K640.06K543.76K132.64K31.14K76.88K829.6K817.18K
Interest Expense0000000000
Other Income/Expense10.42M8.27M1.15M1.57M-2.89M361.49K435.67K2.61M-2.41M-599.07K
Pretax Income+-14.82M-19.83M-28.27M-35.48M-29.27M-4.4M-13.34M-19.18M-19.59M-43.71M
Pretax Margin %-0.46%-0.88%-1.02%-1.45%-0.99%-0.11%-0.29%-0.4%-0.49%-0.87%
Income Tax+-25K3.13M-1.78M30K108K129K129K144K156K170K
Effective Tax Rate %0.99%1.18%0.93%1%1.01%1%1.01%1.01%1.01%1%
Net Income+-14.69M-23.37M-26.35M-35.56M-29.51M-4.41M-13.43M-19.33M-19.75M-43.88M
Net Margin %-0.46%-1.03%-0.95%-1.45%-1%-0.11%-0.29%-0.41%-0.49%-0.87%
Net Income Growth %0.48%-0.59%-0.13%-0.35%0.17%0.85%-2.05%-0.44%-0.02%-1.22%
Net Income (Continuing)-14.8M-23.03M-25.38M-34.48M-29.37M-4.53M-13.47M-19.33M-19.75M-43.88M
Discontinued Operations0000000000
Minority Interest-256.1K114.36K-727.73K-149.05K-17.02K-136.84K-172.33K-172.68K00
EPS (Diluted)+-0.23-0.36-0.38-0.49-0.37-0.05-0.15-0.21-0.18-0.33
EPS Growth %0.49%-0.57%-0.06%-0.29%0.24%0.86%-1.8%-0.4%0.14%-0.83%
EPS (Basic)-0.23-0.36-0.38-0.49-0.37-0.05-0.15-0.21-0.18-0.33
Diluted Shares Outstanding63.47M64.04M69.91M73.16M80.28M82.35M88.9M91.43M108.98M132.88M
Basic Shares Outstanding63.47M64.04M69.91M73.16M80.28M82.35M88.9M91.43M108.98M132.88M
Dividend Payout Ratio----------

Balance Sheet

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Current Assets+101.16M83.39M80M49.4M33.76M39.46M52.21M30.86M39.83M62.84M
Cash & Short-Term Investments80.71M77.2M68.76M37.24M21.78M20.75M29.3M12.65M17.4M35.58M
Cash Only80.71M77.2M68.76M37.24M21.78M17.11M26.79M8.26M5.71M14.16M
Short-Term Investments000003.64M2.51M4.39M11.69M21.42M
Accounts Receivable16.57M1.7M4.66M6.18M6.94M12.78M14.41M10.61M13.12M18.92M
Days Sales Outstanding188.7427.3961.0992.1785.87116.27115.281.67118.51137.23
Inventory2.51M3.3M5.08M4.8M3.77M4.46M6.58M6.43M7.6M6.13M
Days Inventory Outstanding42.4467.48102.35110.654.7755.868.5854.76111.256.02
Other Current Assets920.41K853.76K978.68K784.79K1.16M1.26M1.76M1.07M1.62M2.2M
Total Non-Current Assets+4.9M4.44M10.55M10.45M9.28M8.09M10.8M12.89M9.48M7.92M
Property, Plant & Equipment2.68M2.98M5.08M2.91M4.23M3.41M5.72M5M4.67M4.23M
Fixed Asset Turnover11.97x7.60x5.48x8.42x6.98x11.78x7.99x9.48x8.65x11.89x
Goodwill946.08K844.02K1.78M331.34K000000
Intangible Assets00883.64K0000000
Long-Term Investments232.04K331.45K05.57M4.54M4.52M4.91M7.72M4.69M3.56M
Other Non-Current Assets1.28M618.14K2.81M1.65M517.41K162.47K170.93K170.13K124.92K123.82K
Total Assets+106.06M87.84M90.55M59.86M43.05M47.55M63.01M43.75M49.31M70.77M
Asset Turnover0.30x0.26x0.31x0.41x0.69x0.84x0.72x1.08x0.82x0.71x
Asset Growth %-0.14%-0.17%0.03%-0.34%-0.28%0.1%0.33%-0.31%0.13%0.44%
Total Current Liabilities+11.28M13.37M13.41M10.37M11.31M16.88M17.53M14.46M15.88M43.94M
Accounts Payable3.96M4.36M4.92M3.92M4M5.61M5.48M5.44M4.95M5.94M
Days Payables Outstanding66.8889.0199.0990.4258.170.2257.1446.3472.3754.26
Short-Term Debt0000525K00000
Deferred Revenue (Current)1000K981.76K896.48K388.93K796.79K1000K1000K930.5K1000K87.75K
Other Current Liabilities5.69M3.08M2.72M3.02M2.74M554K513.42K1.27M6.46M454.12K
Current Ratio8.97x6.24x5.97x4.77x2.99x2.34x2.98x2.13x2.51x1.43x
Quick Ratio8.75x5.99x5.59x4.30x2.65x2.07x2.60x1.69x2.03x1.29x
Cash Conversion Cycle164.295.8764.36112.3582.53101.85126.6390.08157.34138.99
Total Non-Current Liabilities+298.46K246.92K970.39K1.47M3.15M2.37M5.85M5.3M3.93M3.54M
Long-Term Debt0000000000
Capital Lease Obligations00001.79M821.31K3.11M2.58M1.83M1.48M
Deferred Tax Liabilities1.21B2.57B520M546M-268.44K00000
Other Non-Current Liabilities298.46K246.92K1.46M1.45M1.35M1.27M2.45M2.48M1.81M1.7M
Total Liabilities11.58M13.61M14.38M11.84M14.45M19.25M23.38M19.76M19.8M47.48M
Total Debt+298.46K246.92K644.05K254.1K2.83M1.8M3.81M3.36M2.48M2.12M
Net Debt-80.41M-76.95M-68.11M-36.99M-18.95M-15.31M-22.98M-4.9M-3.23M-12.04M
Debt / Equity0.00x0.00x0.01x0.01x0.10x0.06x0.10x0.14x0.08x0.09x
Debt / EBITDA----------
Net Debt / EBITDA----------
Interest Coverage----------
Total Equity+94.48M74.22M76.17M48.02M28.59M28.3M39.63M23.99M29.51M23.28M
Equity Growth %-0.14%-0.21%0.03%-0.37%-0.4%-0.01%0.4%-0.39%0.23%-0.21%
Book Value per Share1.491.161.090.660.360.340.450.260.270.18
Total Shareholders' Equity94.74M74.11M76.89M48.17M28.61M28.44M39.8M24.16M29.51M23.28M
Common Stock760.8K766.41K775.72K785.22K870.5K880.08K900.69K929.54K1.12M1.56M
Retained Earnings-190.61M-214.04M-240.12M-272.93M-301.24M-305.65M-319.08M-338.41M-358.16M-402.03M
Treasury Stock-42.74M-42.74M-17.24M-17.24M-17.24M-9.79M-366.11K-103.13K-103.13K-370.01K
Accumulated OCI771.77K1.57M3.56M1.55M1.76M1.48M1.41M1.18M1.23M2.03M
Minority Interest-256.1K114.36K-727.73K-149.05K-17.02K-136.84K-172.33K-172.68K00

Cash Flow

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+-16.92M-26.17M-25.91M-28.17M-21.03M-4.42M-10.75M-17.69M-15.26M-14.23M
Operating CF Margin %-0.53%-1.16%-0.93%-1.15%-0.71%-0.11%-0.24%-0.37%-0.38%-0.28%
Operating CF Growth %0.14%-0.55%0.01%-0.09%0.25%0.79%-1.43%-0.65%0.14%0.07%
Net Income-14.84M-23.03M-25.38M-35.82M-29.37M-4.53M-13.47M-19.33M-19.75M-43.88M
Depreciation & Amortization2.14M993.62K2.5M1.96M792.22K651.08K668.69K722.02K608.22K636.58K
Stock-Based Compensation3.15M2.43M2.3M4.79M2.06M821.12K4.42M1.27M3.88M3.33M
Deferred Taxes-75K1.45M-2.42M4.18K105.04K116.54K128.28K143.34K0170.64K
Other Non-Cash Items-8.07M-7.23M344.73K1.94M6.91M-349.67K190.83K2.64M5.07M29.14M
Working Capital Changes779.9K-781.15K-3.25M-1.04M-1.51M-1.13M-2.68M-3.13M-5.07M-3.63M
Change in Receivables2.85M-39.63K-2.38M853.16K-3.94M-5.56M-1.99M4.97M-4.45M-5.5M
Change in Inventory-8.48K-1.53M-1.63M-1.66M-792.16K-1.33M-2.73M-2.01M-2.26M-922.59K
Change in Payables-2.84M1.21M840.61K-230.36K2.83M00000
Cash from Investing+23.3M22.83M11.28M18.76M4.74M11.8M53.67K-3.31M-8.14M-10.29M
Capital Expenditures-1.12M-394.9K-2.79M-1.18M-170.19K-542.86K-1.03M-832.71K-949.49K-815.3K
CapEx % of Revenue0.04%0.02%0.1%0.05%0.01%0.01%0.02%0.02%0.02%0.02%
Acquisitions----------
Investments----------
Other Investing-1.12M8.19M-140.86K-8.37K-211.22K193.19K-12.82K20.91K62.69K-45
Cash from Financing+-986.34K-510.6K23.1M-844.99K7.99M3.69M20.45M2.66M21.34M33.52M
Debt Issued (Net)----------
Equity Issued (Net)----------
Dividends Paid0000000000
Share Repurchases----------
Other Financing86.05K0-791.74K-699.11K-45.51K00000
Net Change in Cash----------
Free Cash Flow+-18.04M-26.57M-28.71M-29.35M-21.2M-4.96M-11.78M-18.52M-16.21M-15.04M
FCF Margin %-0.56%-1.17%-1.03%-1.2%-0.72%-0.12%-0.26%-0.39%-0.4%-0.3%
FCF Growth %0.14%-0.47%-0.08%-0.02%0.28%0.77%-1.38%-0.57%0.12%0.07%
FCF per Share-0.28-0.41-0.41-0.40-0.26-0.06-0.13-0.20-0.15-0.11
FCF Conversion (FCF/Net Income)1.15x1.12x0.98x0.79x0.71x1.00x0.80x0.92x0.77x0.32x
Interest Paid0000000000
Taxes Paid50K723K281K1.37M000000

Key Ratios

Metric2015201620172018201920202021202220232024
Return on Equity (ROE)-14.41%-27.7%-35.04%-57.27%-77.03%-15.51%-39.55%-60.76%-73.83%-166.23%
Return on Invested Capital (ROIC)-115.41%-270.43%-853.21%-311.71%-191.41%-31.57%-69.72%-91.44%-56.78%-172.33%
Gross Margin32.58%21.12%34.92%35.29%14.91%27.37%23.29%9.63%38.23%20.6%
Net Margin-45.84%-103.2%-94.64%-145.36%-99.96%-10.99%-29.42%-40.77%-48.89%-87.17%
Debt / Equity0.00x0.00x0.01x0.01x0.10x0.06x0.10x0.14x0.08x0.09x
FCF Conversion1.15x1.12x0.98x0.79x0.71x1.00x0.80x0.92x0.77x0.32x
Revenue Growth0.78%-29.36%22.96%-12.13%20.66%35.94%13.8%3.8%-14.78%24.61%

Revenue by Segment

2015201620172018201920202021202220232024
Defense------18.18M24.78M22.61M41.25M
Defense Growth-------36.30%-8.74%82.40%
Research and Development------14.67M-13.46M6M
Research and Development Growth----------55.44%
Industrial--13.58M7.48M--9.71M6.14M2.74M2.2M
Industrial Growth----44.91%----36.81%-55.41%-19.59%
License and Royalties------1.11M-1M442K
License and Royalties Growth----------55.89%
Other Product---------320K
Other Product Growth----------
Medical---------103K
Medical Growth----------
Consumer------1.87M1.5M573K25K
Consumer Growth--------19.99%-61.72%-95.64%
Other------121K7K13K-
Other Growth--------94.21%85.71%-
Research And Development-------14.36M--
Research And Development Growth----------
License And Royalties-------624K--
License And Royalties Growth----------
Net Product Revenues-----28.52M----
Net Product Revenues Growth----------
Research and Development and Other Revenues-----11.61M----
Research and Development and Other Revenues Growth----------
Product----20.28M-----
Product Growth----------
Kopin---16.98M------
Kopin Growth----------
Kopin United States28.54M18.73M15.94M-------
Kopin United States Growth--34.36%-14.90%-------
Intersegment Eliminations---1.69M-------
Intersegment Eliminations Growth----------
Forth Dimension Displays Limited3.52M3.91M--------
Forth Dimension Displays Limited Growth-11.18%--------

Revenue by Geography

2015201620172018201920202021202220232024
Americas22.15M9.28K16.63M--33.13M32.46M38.61M35.1M47.56M
Americas Growth--99.96%179087.32%----2.03%18.94%-9.09%35.52%
UNITED STATES21.76M9.24K16.54M--33.03M32.46M38.6M35.09M47.56M
UNITED STATES Growth--99.96%178951.64%----1.73%18.92%-9.10%35.53%
Asia Pacific7.16M9.85K5.41M--5.8M11.85M7.79M3.77M1.99M
Asia Pacific Growth--99.86%54788.82%---104.42%-34.26%-51.66%-47.19%
Europe2.74M3.52K5.81M--1.2M1.35M1M1.53M782K
Europe Growth--99.87%165144.60%---12.94%-25.94%52.79%-48.92%
Other Americas-----101K-4K5K5K
Other Americas Growth--------25.00%0.00%
Kopin---10.8M29.52M-----
Kopin Growth----173.35%-----
Others395K4186K-------
Others Growth--99.99%209656.10%-------

Frequently Asked Questions

Growth & Financials

Kopin Corporation (KOPN) reported $12.00B in revenue for fiscal year 2024. This represents a 9047% increase from $131.1M in 2011.

Kopin Corporation (KOPN) grew revenue by 24.6% over the past year. This is strong growth.

Yes, Kopin Corporation (KOPN) is profitable, generating $4.07B in net income for fiscal year 2024 (-87.2% net margin).

Dividend & Returns

Kopin Corporation (KOPN) has a return on equity (ROE) of -166.2%. Negative ROE indicates the company is unprofitable.

Kopin Corporation (KOPN) had negative free cash flow of $11.1M in fiscal year 2024, likely due to heavy capital investments.

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