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1. Company Snapshot

1.a. Company Description

LPKF Laser & Electronics AG, together with its subsidiaries, designs and manufactures laser-based solutions for the technology industry in Germany, rest of Europe, the United States, rest of North America, China, Malaysia, Vietnam, rest of Asia, and internationally.The company operates through four segments: Development, Electronics, Welding, and Solar.The Development segment offers circuit board plotters and ProtoLasers primarily for development departments of industrial companies, as well as public organizations, such as research institutes, universities, and schools.


The Electronics segment provides production systems for cutting print stencils, rigid and flexible circuit boards, ultra-thin glass, and the etching of plastic circuit carriers, as well as the sale of components manufactured with laser systems.The Welding segment offers systems for laser beam welding of plastic components.The Solar segment develops and produces laser scribers for the etching of thin-film solar cells and laser systems for the digital printing of functional pastes and inks, which are used in production.


Its products are used in the electronics, automotive supply, solar, and semiconductor industries, as well as medical technology, research institutions, and universities.The company was founded in 1976 and is headquartered in Garbsen, Germany.

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1.b. Last Insights on LPK

LPKF Laser & Electronics AG's recent performance was negatively driven by a 17% decline in revenue to €29.2m in Q3 2024, resulting in a €0.07 loss per share (vs €0.097 profit in 3Q 2023). The company's revenue decline was likely due to a challenging market environment, with factory orders experiencing a significant decline in Germany. Additionally, LPKF's revenue growth in the solar sector, which was a key driver in Q2 2024, appears to have slowed down in Q3 2024. The company's strategic advancements in light technology and semiconductor sectors are a positive development, but may not be enough to offset the current market challenges.

1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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LPKF Laser & Electronics SE (LPKFF) Q3 2025 Earnings Call Highlights: Navigating Growth ...

Nov -06

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LPKF Laser & Electronics (XTRA:LPK): Revenue Growth Forecast Supports Renewed Optimism Despite Profitability Concerns

Oct -31

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4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (9.08%)

6. Segments

Solar

Expected Growth: None%

None

Development

Expected Growth: None%

None

Electronics

Expected Growth: None%

None

Welding

Expected Growth: None%

None

7. Detailed Products

Laser Systems for Micro Material Processing

LPKF's laser systems are designed for micro material processing, offering high-precision cutting, drilling, and structuring of various materials.

Laser Direct Structuring (LDS) Systems

LPKF's LDS systems enable the creation of complex structures and circuits on molded interconnect devices (MIDs) and other 3D components.

Stencil Laser Processing Systems

LPKF's stencil laser processing systems are designed for the production of high-precision stencils and screens for printing and coating applications.

Rapid Prototyping Systems

LPKF's rapid prototyping systems enable the rapid creation of functional prototypes and small-batch production of electronic components.

Micro-Material Processing Services

LPKF offers contract manufacturing services for micro-material processing, including laser cutting, drilling, and structuring.

8. LPKF Laser & Electronics AG's Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for LPKF Laser & Electronics AG is moderate, as there are alternative technologies available in the market, but they are not yet widely adopted.

Bargaining Power Of Customers

The bargaining power of customers is low, as LPKF Laser & Electronics AG has a strong brand reputation and its products are highly specialized, making it difficult for customers to switch to alternative suppliers.

Bargaining Power Of Suppliers

The bargaining power of suppliers is moderate, as LPKF Laser & Electronics AG relies on a few key suppliers for its raw materials, but it also has some flexibility to switch to alternative suppliers if needed.

Threat Of New Entrants

The threat of new entrants is low, as LPKF Laser & Electronics AG has a strong patent portfolio and a high level of expertise in its field, making it difficult for new entrants to compete.

Intensity Of Rivalry

The intensity of rivalry is high, as LPKF Laser & Electronics AG operates in a highly competitive industry with several established players, and the company needs to continuously innovate and improve its products to stay ahead of the competition.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 12.52%
Debt Cost 8.01%
Equity Weight 87.48%
Equity Cost 11.80%
WACC 11.32%
Leverage 14.31%

11. Quality Control: LPKF Laser & Electronics AG passed 4 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

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ITM Power

A-Score: 4.0/10

Value: 6.8

Growth: 5.8

Quality: 2.7

Yield: 0.0

Momentum: 8.5

Volatility: 0.0

1-Year Total Return ->

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Koenig & Bauer

A-Score: 3.7/10

Value: 6.2

Growth: 2.7

Quality: 1.4

Yield: 0.0

Momentum: 9.5

Volatility: 2.7

1-Year Total Return ->

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LPKF Laser & Electronics

A-Score: 3.0/10

Value: 6.4

Growth: 2.7

Quality: 3.3

Yield: 0.0

Momentum: 1.5

Volatility: 4.3

1-Year Total Return ->

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XANO Industri

A-Score: 2.9/10

Value: 5.1

Growth: 3.4

Quality: 4.9

Yield: 2.5

Momentum: 1.0

Volatility: 0.7

1-Year Total Return ->

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Nel

A-Score: 2.9/10

Value: 8.0

Growth: 5.6

Quality: 3.1

Yield: 0.0

Momentum: 0.5

Volatility: 0.3

1-Year Total Return ->

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Kornit Digital

A-Score: 2.6/10

Value: 6.7

Growth: 3.2

Quality: 3.9

Yield: 0.0

Momentum: 1.0

Volatility: 0.7

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

5.7$

Current Price

5.7$

Potential

-0.00%

Expected Cash-Flows