KOPN Technology

Kopin Corporation

$3.60+4.65%

Price as of close on Nov 3, 2026 · Financials updated Oct 9, 2026

Basics

Sector: Technology
Industry: Electronic Components
Country: United States
Market cap: 669.1M USD
Enterprise value: 618.7M USD
Full-time employees: 145

Overall health

Drawback: less profitable than most peersless profitable than peers
Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings
Drawback: higher risk than most peers: its share price swings more than most peers’ (beta 3.59 vs a peer median of 0.87)higher risk: bigger price swings (beta 3.59 vs peers 0.87)

Ranks #1,166 of 1,612 technology companies (bottom 28%)

See how it ranks against its peers

Worth knowing

Profitable, but burning cash. Reports a profit, but free cash flow is negative.
Kopin reports a profit but its free cash flow is negative: it spent more on investment and running the business than it brought in. That's common for companies building capacity, but it means the profit isn't yet turning into cash.
Shareholders being diluted. Shares outstanding up 100% from December 2022 to August 2026.
Kopin had 100% more shares at August 2026 than at December 2022, mostly from issuing stock (for pay, acquisitions or fundraising). Each existing share now owns a smaller slice of the business.Kopin had 100% more shares at August 2026 than at December 2022, mostly from issuing stock. Each existing share now owns a smaller slice of the business.
Stock-based pay is a large cost. Stock pay was 198% of revenue in 2025.
Kopin paid employees $3M in stock in 2025, 198% of its $2M revenue. It doesn't use cash, so it flatters cash flow, but it is a real cost to shareholders through dilution.
Earnings turned from a loss to a profit. Profit per share this year after a loss last year.
Kopin made a profit per share in its latest year after a loss the year before.

StockQuotient Score

39/ 100

Oct 5 39 → Nov 4 39

Valuation

Is the price right?

19/100

Weak

3/3 inputs reported · High confidence

Since last quarter: No major changeValuation also moves with the share price every day.

Why

Weaker than most peers on:

▼ EBITDA yield
▼ FCF yield
▼ Earnings yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield1.2%

SEC filings · 12 months to Jun 2026Reported value30% base weight · Z-score -0.47Sector median: 0.0225 · MAD: 0.0225

EBITDA yield-2.3%

Yahoo Finance fallback · SEC enterprise value unavailable (debt or EBITDA not reported in standard form) · trailing 12 monthsNegative (a loss or cash outflow), so it counts as zero whatever the share price50% base weight · Z-score -1.17Sector median: 0.0423 · MAD: 0.0361

Free cash flow yield-2.8%

SEC filings · 12 months to Jun 2026 · operating cash flow − capital spendingNegative (a loss or cash outflow), so it counts as zero whatever the share price20% base weight · Z-score -1.00Sector median: 0.0274 · MAD: 0.0274

Other data (not scored)

Book yield10.3%

SEC filings · latest balance sheetReported valueInformational · 0% composite weightSector median: 0.3292 · MAD: 0.1754

Growth

Is it growing?

93/100

Strong

3/3 inputs reported · High confidence

Since last quarter: ▲ Stronger

12-month revenue up 1587.7%

Why

Stronger than most peers on:

▲ Revenue growth
▲ EPS growth

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growthUnavailable

Earnings per share turned from a loss to a profit33% base weight · Z-score 3.96Sector median: 0.1108 · MAD: 0.3050

3-year revenue growth2.8%

SEC filings · 3 years to Jun 2026Reported value33% base weight · Z-score -0.26Sector median: 0.0483 · MAD: 0.0793

Revenue growth1628.3%

SEC filings · 12 months to Jun 2026Outlier capped at sector 5th/95th percentile33% base weight · Z-score 4.89Sector median: 0.0853 · MAD: 0.1017

Profitability

Does it earn well?

10/100

Weak

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Weaker than most peers on:

▼ Operating margin
▼ ROIC

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin-41.6%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -6.75Sector median: 0.0631 · MAD: 0.0710

Return on assets7.4%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 1.25Sector median: 0.0293 · MAD: 0.0362

Return on invested capital-17.8%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -2.86Sector median: 0.0676 · MAD: 0.0857

Other data (not scored)

Gross margin20.0%

Yahoo Finance fallback · SEC figure unavailable or out of date · trailing 12 monthsReported valueInformational · 0% composite weightSector median: 0.3343 · MAD: 0.1632

Return on equity11.4%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.0753 · MAD: 0.0889

Risk

Debt, liquidity, price swings

Higher

Higher relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Weaker than most peers on:

▼ Beta

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta3.59

Yahoo Finance · 5-year monthly beta vs the marketOutlier capped at sector 5th/95th percentile33% base weight · Z-score -3.51Sector median: 0.8710 · MAD: 0.3700

Current ratio2.18×

SEC filings · latest balance sheetReported value33% base weight · Z-score 0.51Sector median: 1.8295 · MAD: 0.6848

Debt / equity0.02×

Yahoo Finance fallback · no standard SEC debt tagReported value33% base weight · Z-score 1.03Sector median: 0.2495 · MAD: 0.2270

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Kopin

Is Kopin getting weaker?: Its latest SEC filing (Aug 11, 2026) showed no major changes. Its overall score is unchanged at 39/100 since Oct 28, 2026.
How is Kopin valued vs its peers?: Priced higher than most peers relative to what it earns. Valuation scores 19/100 against 1,711 technology peers. EBITDA yield -2.3% vs a peer median of 4.2% (weaker than 100% of peers).EBITDA yield -2.3% vs peers 4.2% (weaker than 100% of peers).
Is Kopin growing?: Yes, faster than most of its peers. Growth scores 93/100 against 1,711 technology peers. Revenue growth 1628.3% vs a peer median of 8.5% (stronger than 95% of peers).Revenue growth 1628.3% vs peers 8.5% (stronger than 95% of peers).
How profitable is Kopin?: Less profitable than most of its peers. Profitability scores 10/100 against 1,711 technology peers. Return on assets 7.4% vs a peer median of 2.9% (stronger than 78% of peers).Return on assets 7.4% vs peers 2.9% (stronger than 78% of peers). Operating margin -41.6% vs a peer median of 6.3% (weaker than 95% of peers).Operating margin -41.6% vs peers 6.3% (weaker than 95% of peers).
How risky is Kopin?: Higher risk relative to 1,711 technology peers, judged on debt, liquidity and share-price swings. Debt / equity 0.02× vs a peer median of 0.25× (stronger than 87% of peers).Debt / equity 0.02× vs peers 0.25× (stronger than 87% of peers). Beta 3.59 vs a peer median of 0.87 (weaker than 100% of peers).Beta 3.59 vs peers 0.87 (weaker than 100% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jun 27, 2026 · filed Aug 11, 2026 · compared with the quarter ended Mar 28, 2026

No major changes

Worth watching: Kopin is in the bottom fifth of its sector on profitability. From 2021 to 2025, 63% of companies in that position posted a loss over the following year, against 4% for the top fifth.

	Previous quarter	Latest quarter	Change
Revenue (12 months)	1.4M USD	24.0M USD	+1587.7%
Net income (12 months)	1.9M USD	7.9M USD	+313.9%
Operating margin	-839.3%	-41.6%	+797.7 pts
Free cash flow (12 months)	−15.2M USD	−18.4M USD	+21.4%
Cash	34.1M USD	24.9M USD	−27.0%
Shares outstanding	182.9M	185.9M	+1.6%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Industry: Electronic Components · 19 companies

Valuations in Electronic Components are near the top of their range since Mar 2016.

90% of months since Mar 2016 were valued lower than now.
87% of companies are in the most expensive fifth of their own price-to-sales history.
Median price-to-sales is +2% vs the whole market, against a usual −24%.

Mar 2016Shaded: most expensive fifth of its range2026

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Gross margin	—	—	—	—	—	—
Operating margin	-30.2%	-1308.5%	-910.0%	-4268.3%	-643.9%	▲ >999 pts
Net margin	-29.4%	-1160.5%	-1046.2%	-4344.4%	170.3%	▲ >999 pts
Return on assets (ROA)	-21.3%	-44.2%	-40.0%	-62.0%	2.4%	▲ 64 pts
Return on equity (ROE)	-33.8%	-80.0%	-66.9%	-188.5%	4.1%	▲ 193 pts
Free cash flow margin	-25.8%	-1112.1%	-858.7%	-1489.3%	-1109.3%	▲ 380 pts
Current ratio	2.98×	2.13×	2.51×	1.43×	2.70×	▲ 89%
Quick ratio	2.60×	1.69×	2.03×	1.29×	2.54×	▲ 97%

KOPN price history

Price history is added with the daily price update and will appear after the next one.

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Bringing the fundamentals into focus…

Overall health

Drawback: less profitable than most peersless profitable than peers

Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings

Drawback: higher risk than most peers: its share price swings more than most peers’ (beta 3.59 vs a peer median of 0.87)higher risk: bigger price swings (beta 3.59 vs peers 0.87)

Ranks #1,166 of 1,612 technology companies (bottom 28%)

See how it ranks against its peers

Worth knowing

Profitable, but burning cash. Reports a profit, but free cash flow is negative.

Kopin reports a profit but its free cash flow is negative: it spent more on investment and running the business than it brought in. That's common for companies building capacity, but it means the profit isn't yet turning into cash.

Shareholders being diluted. Shares outstanding up 100% from December 2022 to August 2026.

Kopin had 100% more shares at August 2026 than at December 2022, mostly from issuing stock (for pay, acquisitions or fundraising). Each existing share now owns a smaller slice of the business.Kopin had 100% more shares at August 2026 than at December 2022, mostly from issuing stock. Each existing share now owns a smaller slice of the business.

Stock-based pay is a large cost. Stock pay was 198% of revenue in 2025.

Kopin paid employees $3M in stock in 2025, 198% of its $2M revenue. It doesn't use cash, so it flatters cash flow, but it is a real cost to shareholders through dilution.

Earnings turned from a loss to a profit. Profit per share this year after a loss last year.

Kopin made a profit per share in its latest year after a loss the year before.

Questions investors ask about Kopin

Is Kopin getting weaker?

Its latest SEC filing (Aug 11, 2026) showed no major changes. Its overall score is unchanged at 39/100 since Oct 28, 2026.

How is Kopin valued vs its peers?

Priced higher than most peers relative to what it earns. Valuation scores 19/100 against 1,711 technology peers. EBITDA yield -2.3% vs a peer median of 4.2% (weaker than 100% of peers).EBITDA yield -2.3% vs peers 4.2% (weaker than 100% of peers).

Is Kopin growing?

Yes, faster than most of its peers. Growth scores 93/100 against 1,711 technology peers. Revenue growth 1628.3% vs a peer median of 8.5% (stronger than 95% of peers).Revenue growth 1628.3% vs peers 8.5% (stronger than 95% of peers).

How profitable is Kopin?

Less profitable than most of its peers. Profitability scores 10/100 against 1,711 technology peers. Return on assets 7.4% vs a peer median of 2.9% (stronger than 78% of peers).Return on assets 7.4% vs peers 2.9% (stronger than 78% of peers). Operating margin -41.6% vs a peer median of 6.3% (weaker than 95% of peers).Operating margin -41.6% vs peers 6.3% (weaker than 95% of peers).

How risky is Kopin?

Higher risk relative to 1,711 technology peers, judged on debt, liquidity and share-price swings. Debt / equity 0.02× vs a peer median of 0.25× (stronger than 87% of peers).Debt / equity 0.02× vs peers 0.25× (stronger than 87% of peers). Beta 3.59 vs a peer median of 0.87 (weaker than 100% of peers).Beta 3.59 vs peers 0.87 (weaker than 100% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

1.4M USD

24.0M USD

+1587.7%

Net income (12 months)

1.9M USD

7.9M USD

+313.9%

Operating margin

-839.3%

-41.6%

+797.7 pts

Free cash flow (12 months)

−15.2M USD

−18.4M USD

+21.4%

Cash

34.1M USD

24.9M USD

−27.0%

Shares outstanding

182.9M

185.9M

+1.6%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Gross margin

—

Operating margin

-30.2%

-1308.5%

-910.0%

-4268.3%

-643.9%

▲ >999 pts

Net margin

-29.4%

-1160.5%

-1046.2%

-4344.4%

170.3%

▲ >999 pts

Return on assets (ROA)

-21.3%

-44.2%

-40.0%

-62.0%

2.4%

▲ 64 pts

Return on equity (ROE)

-33.8%

-80.0%

-66.9%

-188.5%

4.1%

▲ 193 pts

Free cash flow margin

-25.8%

-1112.1%

-858.7%

-1489.3%

-1109.3%

▲ 380 pts

Current ratio

2.98×

2.13×

2.51×

1.43×

2.70×

▲ 89%

Quick ratio

2.60×

1.69×

2.03×

1.29×

2.54×

▲ 97%