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LightPath Technologies, Inc. (LPTH) 10-Year Financial Performance & Capital Metrics

LPTH • • Industrial / General
TechnologyTech Hardware & EquipmentOptical & Photonics SystemsOptical Components
AboutLightPath Technologies, Inc. designs, develops, manufactures, and distributes optical components and assemblies. The company offers precision molded glass aspheric optics, molded and diamond-turned infrared aspheric lenses, and other optical components used to produce products that manipulate light. Its products are used in defense products, medical devices, laser aided industrial tools, automotive safety applications, barcode scanners, optical data storage, hybrid fiber coax datacom, telecommunications, machine vision and sensors, and other industries. The company sells its products directly to customers in North America, Europe, and Asia, as well as through distributors and catalogs in the United States and internationally. LightPath Technologies, Inc. was founded in 1985 and is headquartered in Orlando, Florida.Show more
  • Revenue $37M +17.3%
  • EBITDA -$8M -103.1%
  • Net Income -$15M -85.7%
  • EPS (Diluted) -0.36 -71.4%
  • Gross Margin 27.23%
  • EBITDA Margin -20.63% -73.2%
  • Operating Margin -31.78% -28.8%
  • Net Margin -39.98% -58.4%
  • ROE -64.89% -168.0%
  • ROIC -28.14% -93.5%
  • Debt/Equity 0.97 +183.0%
  • Interest Coverage -10.57 +74.1%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Momentum leader: RS Rating 97 (top 3%)

✗Weaknesses

  • ✗Weak Piotroski F-Score: 3/9
  • ✗Negative free cash flow
  • ✗Expensive at 30.5x 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

10Y10.54%
5Y1.25%
3Y1.52%
TTM46974.57%

Profit (Net Income) CAGR

10Y-
5Y-
3Y-
TTM-34966.99%

EPS CAGR

10Y-
5Y-
3Y-
TTM-79.37%

ROCE

10Y Avg-2.3%
5Y Avg-11.75%
3Y Avg-16.2%
Latest-22.64%

Peer Comparison

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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
LPTHLightPath Technologies, Inc.530.88M11.66-32.3917.26%-19.26%-52.2%0.97
OPTXSyntec Optics Holdings, Inc.163.93M4.44-65.68-3.37%-10.71%-30.46%1.03

Profit & Loss

Jun 2016Jun 2017Jun 2018Jun 2019Jun 2020Jun 2021Jun 2022Jun 2023Jun 2024Jun 2025
Sales/Revenue+17.27M28.37M32.53M33.75M34.97M38.46M35.56M32.93M31.73M37.2M
Revenue Growth %0.26%0.64%0.15%0.04%0.04%0.1%-0.08%-0.07%-0.04%0.17%
Cost of Goods Sold+7.97M13.65M20M21.23M21.13M25.02M23.74M21.86M23.09M27.07M
COGS % of Revenue0.46%0.48%0.61%0.63%0.6%0.65%0.67%0.66%0.73%0.73%
Gross Profit+9.3M14.72M12.53M12.52M13.84M13.45M11.81M11.07M8.63M10.13M
Gross Margin %0.54%0.52%0.39%0.37%0.4%0.35%0.33%0.34%0.27%0.27%
Gross Profit Growth %0.56%0.58%-0.15%-0%0.11%-0.03%-0.12%-0.06%-0.22%0.17%
Operating Expenses+7.25M10.58M12.15M13.74M11.7M15.29M14.44M14.63M16.46M21.95M
OpEx % of Revenue0.42%0.37%0.37%0.41%0.33%0.4%0.41%0.44%0.52%0.59%
Selling, General & Admin6.58M8.65M9.22M10.5M000000
SG&A % of Revenue0.38%0.3%0.28%0.31%------
Research & Development668.84K1.24M1.62M2.02M1.71M2.17M2.09M2.15M2.4M3.06M
R&D % of Revenue0.04%0.04%0.05%0.06%0.05%0.06%0.06%0.07%0.08%0.08%
Other Operating Expenses0105.64K241.04K1.22M9.98M13.12M12.36M12.48M14.06M18.89M
Operating Income+2.01M4.14M373.57K-1.61M2.15M-1.84M-2.63M-3.55M-7.83M-11.82M
Operating Margin %0.12%0.15%0.01%-0.05%0.06%-0.05%-0.07%-0.11%-0.25%-0.32%
Operating Income Growth %8.7%1.06%-0.91%-5.3%2.34%-1.86%-0.43%-0.35%-1.2%-0.51%
EBITDA+2.86M6.22M3.78M1.86M5.57M1.67M990.51K-379.97K-3.78M-7.67M
EBITDA Margin %0.17%0.22%0.12%0.06%0.16%0.04%0.03%-0.01%-0.12%-0.21%
EBITDA Growth %9.35%1.18%-0.39%-0.51%2%-0.7%-0.41%-1.38%-8.94%-1.03%
D&A (Non-Cash Add-back)847.99K2.08M3.4M3.46M3.42M3.51M3.62M3.17M4.05M4.15M
EBIT1.65M3.78M419.98K-1.53M2.04M-1.28M-2.62M-3.63M-7M-9.06M
Net Interest Income+-37.63K-413.43K-186.95K-697.11K-339.45K-215.35K-229.47K-283.27K-191.86K-1.12M
Interest Income0000000000
Interest Expense37.63K413.43K186.95K697.11K339.45K215.35K229.47K283.27K191.86K1.12M
Other Income/Expense-395.52K-775.33K-140.54K-1.09M-514.28K-409.52K-52.04K-258.3K-113.19K-3.01M
Pretax Income+1.61M3.36M233.03K-2.23M1.63M-2.25M-2.68M-3.81M-7.94M-14.84M
Pretax Margin %0.09%0.12%0.01%-0.07%0.05%-0.06%-0.08%-0.12%-0.25%-0.4%
Income Tax+199.28K-4.34M-827.08K455.21K764K933.91K862.91K234.03K67.49K37.79K
Effective Tax Rate %0.88%2.29%4.55%1.2%0.53%1.41%1.32%1.06%1.01%1%
Net Income+1.41M7.7M1.06M-2.68M866.93K-3.19M-3.54M-4.05M-8.01M-14.87M
Net Margin %0.08%0.27%0.03%-0.08%0.02%-0.08%-0.1%-0.12%-0.25%-0.4%
Net Income Growth %2.98%4.45%-0.86%-3.53%1.32%-4.67%-0.11%-0.14%-0.98%-0.86%
Net Income (Continuing)1.41M7.7M1.06M-2.68M866.93K-3.19M-3.54M-4.05M-8.01M-14.87M
Discontinued Operations0000000000
Minority Interest0000000000
EPS (Diluted)+0.080.360.04-0.100.03-0.12-0.13-0.13-0.21-0.36
EPS Growth %2.65%3.5%-0.89%-3.53%1.32%-4.8%-0.08%0%-0.62%-0.71%
EPS (Basic)0.090.390.04-0.100.03-0.12-0.13-0.13-0.21-0.36
Diluted Shares Outstanding16.88M21.67M26.81M25.79M27.47M26.31M27.02M31.64M37.94M40.87M
Basic Shares Outstanding15.4M20M26.5M25.79M25.85M26.31M27.02M31.64M37.94M40.87M
Dividend Payout Ratio----------

Balance Sheet

Jun 2016Jun 2017Jun 2018Jun 2019Jun 2020Jun 2021Jun 2022Jun 2023Jun 2024Jun 2025
Total Current Assets+11.15M19.72M19.39M19.61M21.26M20.7M18.17M21.76M15.54M28.37M
Cash & Short-Term Investments2.91M8.09M5.51M4.6M5.39M6.77M5.51M4.69M3.48M4.88M
Cash Only2.91M8.09M5.51M4.6M5.39M6.77M5.51M4.69M3.48M4.88M
Short-Term Investments0000000000
Accounts Receivable3.76M5.92M5.42M6.56M6.32M4.79M5.21M6.63M4.93M9.46M
Days Sales Outstanding79.3576.1660.797165.9845.4953.4973.5356.7192.77
Inventory3.84M5.07M6.4M7.68M8.98M8.66M6.99M7.41M6.55M12.86M
Days Inventory Outstanding175.76135.71116.9132.12155.23126.34107.38123.74103.54173.37
Other Current Assets001M00002.46M131.18K40.15K
Total Non-Current Assets+4.44M26.95M27.73M26.36M26.32M33.91M32.54M31.78M32.55M53.13M
Property, Plant & Equipment4.37M10.32M11.81M11.73M13.02M22.3M22.06M22.38M21.95M23.29M
Fixed Asset Turnover3.95x2.75x2.75x2.88x2.69x1.73x1.61x1.47x1.45x1.60x
Goodwill05.85M5.85M5.85M5.85M5.85M5.85M5.85M6.76M13.75M
Intangible Assets010.38M9.06M7.84M6.71M5.58M4.46M3.33M3.65M15.99M
Long-Term Investments0000000000
Other Non-Current Assets66.96K112.32K381.94K289.49K75.73K27.74K27.74K65.94K59.6K73.92K
Total Assets+15.59M46.67M47.12M45.97M47.57M54.61M50.71M53.54M48.09M81.51M
Asset Turnover1.11x0.61x0.69x0.73x0.74x0.70x0.70x0.62x0.66x0.46x
Asset Growth %0.23%1.99%0.01%-0.02%0.03%0.15%-0.07%0.06%-0.1%0.69%
Total Current Liabilities+3.21M5.75M5.8M6.36M7.4M8.45M7.73M6.83M8.04M17.1M
Accounts Payable1.36M1.54M2.03M2.23M2.56M2.92M3.07M2.57M3.23M7.42M
Days Payables Outstanding62.3941.0837.138.344.2142.6747.2542.9851.08100.06
Short-Term Debt01.11M1.46M581.35K981.35K634.85K998.69K1.02M209.17K172.57K
Deferred Revenue (Current)0000000000
Other Current Liabilities0086.56K72.15K000000
Current Ratio3.47x3.43x3.34x3.09x2.87x2.45x2.35x3.18x1.93x1.66x
Quick Ratio2.28x2.55x2.24x1.88x1.66x1.43x1.45x2.10x1.12x0.91x
Cash Conversion Cycle192.73170.79140.59164.81177129.16113.62154.29109.17166.08
Total Non-Current Liabilities+1.44M11.2M5.96M6.16M5.6M12.59M13.25M10.75M9.85M48.76M
Long-Term Debt09.93M5.12M5M4.44M4.06M3.22M1.55M325.88K4.8M
Capital Lease Obligations178.92K142.1K550.13K640.28K1.17M8.53M9.49M8.73M8.59M8.75M
Deferred Tax Liabilities0182.35K0000541.01K465K326.2K152.76K
Other Non-Current Liabilities1.27M949.34K290.8K518.36K0000611.62K35.06M
Total Liabilities4.66M16.95M11.76M12.51M13.01M21.03M20.98M17.58M17.89M65.86M
Total Debt+345.37K11.42M7.44M6.63M7.63M14.23M14.73M12.38M10.36M15.19M
Net Debt-2.56M3.33M1.93M2.02M2.24M7.46M9.22M7.7M6.88M10.31M
Debt / Equity0.03x0.38x0.21x0.20x0.22x0.42x0.50x0.34x0.34x0.97x
Debt / EBITDA0.12x1.84x1.97x3.56x1.37x8.53x14.87x---
Net Debt / EBITDA-0.90x0.54x0.51x1.09x0.40x4.47x9.31x---
Interest Coverage53.40x10.01x2.00x-2.30x6.32x-8.55x-11.45x-12.55x-40.79x-10.57x
Total Equity+10.93M29.72M35.36M33.46M34.57M33.58M29.73M35.95M30.2M15.64M
Equity Growth %0.37%1.72%0.19%-0.05%0.03%-0.03%-0.11%0.21%-0.16%-0.48%
Book Value per Share0.651.371.321.301.261.281.101.140.800.38
Total Shareholders' Equity10.93M29.72M35.36M33.46M34.57M33.58M29.73M35.95M30.2M15.64M
Common Stock155.91K242.16K257.64K258.14K258.92K269.86K270.47K373.45K392.55K429.49K
Retained Earnings-204.01M-196.31M-195.25M-197.93M-197.06M-200.25M-203.79M-207.84M-215.84M-230.72M
Treasury Stock0000000000
Accumulated OCI126.11K295.4K473.51K808.52K735.89K2.12M935.13K606.54K509.94K978.69K
Minority Interest0000000000

Cash Flow

Jun 2016Jun 2017Jun 2018Jun 2019Jun 2020Jun 2021Jun 2022Jun 2023Jun 2024Jun 2025
Cash from Operations+1.53M5M2.62M411.19K3.73M4.73M1.46M-2.81M521.04K-8.33M
Operating CF Margin %0.09%0.18%0.08%0.01%0.11%0.12%0.04%-0.09%0.02%-0.22%
Operating CF Growth %7.53%2.28%-0.48%-0.84%8.08%0.27%-0.69%-2.92%1.19%-16.99%
Net Income1.41M7.7M1.06M-2.68M866.93K-3.19M-3.54M-4.05M-8.01M-14.87M
Depreciation & Amortization847.99K2.08M3.4M3.46M3.42M3.51M3.62M3.17M4.05M4.15M
Stock-Based Compensation348.74K394.88K373.55K394.79K250.74K642.87K825.25K1.31M1.02M1.04M
Deferred Taxes0-5.49M-533.81K-28K-7K512K545.01K-73.02K-121.8K-221.98K
Other Non-Cash Items44.75K69.88K109.08K529.49K-99.77K-38.49K303.41K73.3K440.23K2.02M
Working Capital Changes-1.13M244.47K-1.79M-1.27M-702.52K3.29M-285.11K-3.25M3.14M-447.78K
Change in Receivables-650.75K-1.04M618.39K-833.66K224.92K1.56M-425.55K-1.43M1.5M-2.63M
Change in Inventory-916.9K-318.64K-1.33M-1.41M-1.43M167.5K1.22M-741.6K960.74K-1.39M
Change in Payables724.15K1.23M-178.14K883.18K0000680.46K0
Cash from Investing+-1.13M-14M-2.52M-1.25M-2.26M-3.16M-1.63M-2.87M-2.67M-19.74M
Capital Expenditures-1.13M-2.22M-2.52M-1.93M-2.44M-3.16M-1.63M-3.08M-2.18M-1.26M
CapEx % of Revenue0.07%0.08%0.08%0.06%0.07%0.08%0.05%0.09%0.07%0.03%
Acquisitions----------
Investments----------
Other Investing5.92K00683.25K186.99K00209.17K364.71K10.65K
Cash from Financing+236.91K14.21M-1.31M-1.4M-621.71K-843.43K-636.17K7.46M-1.47M29.3M
Debt Issued (Net)----------
Equity Issued (Net)----------
Dividends Paid0000000000
Share Repurchases----------
Other Financing419.83K653.09K747.66K52.2K46.88K172.67K-9.51K40.38K39.68K3.92M
Net Change in Cash----------
Free Cash Flow+394.62K2.78M101.3K-1.52M1.29M1.57M-162.49K-5.89M-1.66M-9.59M
FCF Margin %0.02%0.1%0%-0.05%0.04%0.04%-0%-0.18%-0.05%-0.26%
FCF Growth %1.77%6.03%-0.96%-16.01%1.85%0.22%-1.1%-35.23%0.72%-4.77%
FCF per Share0.020.130.00-0.060.050.06-0.01-0.19-0.04-0.23
FCF Conversion (FCF/Net Income)1.08x0.65x2.47x-0.15x4.31x-1.49x-0.41x0.69x-0.07x0.56x
Interest Paid37.63K334.59K546.31K500.99K330.91K199.52K157.41K221.77K196.54K273.48K
Taxes Paid4.3K680.05K386.47K406.53K526.23K1.05M267.58K428.91K166.86K206.12K

Key Ratios

Metric2016201720182019202020212022202320242025
Return on Equity (ROE)14.94%37.9%3.26%-7.79%2.55%-9.35%-11.19%-12.32%-24.21%-64.89%
Return on Invested Capital (ROIC)19.76%14.98%0.8%-3.31%4.45%-3.55%-4.93%-6.46%-14.54%-28.14%
Gross Margin53.87%51.89%38.52%37.09%39.59%34.96%33.23%33.63%27.21%27.23%
Net Margin8.19%27.15%3.26%-7.94%2.48%-8.28%-9.96%-12.29%-25.24%-39.98%
Debt / Equity0.03x0.38x0.21x0.20x0.22x0.42x0.50x0.34x0.34x0.97x
Interest Coverage53.40x10.01x2.00x-2.30x6.32x-8.55x-11.45x-12.55x-40.79x-10.57x
FCF Conversion1.08x0.65x2.47x-0.15x4.31x-1.49x-0.41x0.69x-0.07x0.56x
Revenue Growth26.43%64.24%14.66%3.76%3.61%10%-7.55%-7.38%-3.67%17.26%

Revenue by Segment

201920202021202220242025
Engineering Services-----3.19M
Engineering Services Growth------
Infrared Products17.27M18.05M20.97M18.74M--
Infrared Products Growth-4.52%16.16%-10.66%--
PMO14.1M14.64M15.88M15.02M--
PMO Growth-3.84%8.49%-5.43%--
Specialty Products2.38M2.28M1.61M---
Specialty Products Growth--4.37%-29.18%---

Revenue by Geography

201920202021202220242025
Other European countries-----9.1M
Other European countries Growth------
world----745.15K1.23M
world Growth-----65.54%
Other Asian countries-----1M
Other Asian countries Growth------

Frequently Asked Questions

Growth & Financials

LightPath Technologies, Inc. (LPTH) reported $15.09B in revenue for fiscal year 2025. This represents a 133593% increase from $11.3M in 2012.

LightPath Technologies, Inc. (LPTH) grew revenue by 17.3% over the past year. This is strong growth.

LightPath Technologies, Inc. (LPTH) reported a net loss of $2.91B for fiscal year 2025.

Dividend & Returns

LightPath Technologies, Inc. (LPTH) has a return on equity (ROE) of -64.9%. Negative ROE indicates the company is unprofitable.

LightPath Technologies, Inc. (LPTH) had negative free cash flow of $9.0M in fiscal year 2025, likely due to heavy capital investments.

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