PRLB Industrials

Proto Labs, Inc.

$69.10+2.78%

Price as of close on Nov 3, 2026 · Financials updated Sep 30, 2026

Basics

Sector: Industrials
Industry: Metal Fabrication
Country: United States
Market cap: 1.7B USD
Enterprise value: 1.5B USD
Full-time employees: 2,280

Overall health

Strength: growing faster than most peersgrowing faster than peers
Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings
Drawback: its share price swings more than most peers’ (beta 1.42 vs a peer median of 0.64)bigger price swings (beta 1.42 vs peers 0.64)
About average: profitability

Ranks #775 of 2,308 industrials companies (top 34%)

See how it ranks against its peers

Worth knowing

Share count shrinking. Shares outstanding down 11% from December 2022 to July 2026.
Proto Labs had 11% fewer shares at July 2026 than at December 2022, mainly through buybacks, so each remaining share owns a larger slice of the business.
Profit is backed by cash. Free cash flow is 186% of reported profit.
Proto Labs's free cash flow is 186% of its reported profit, so its earnings are turning into cash it can reinvest, pay out or use to reduce debt.
Little borrowing. Debt is 0.00× equity vs a peer median of 0.4×.Debt is 0.00× equity vs peers 0.4×.
Proto Labs has among the least debt in its peer group relative to shareholders' equity.
More volatile share price. Beta 1.42: tends to move more than the market.
Proto Labs's shares have swung more with the market than most peers' (beta 1.42, above the market's 1.0).

StockQuotient Score

59/ 100▲ 1 since Oct 27 close

Oct 5 57 → Nov 4 59 (+2)

Valuation

Is the price right?

33/100

Weak▲ 5 since Oct 27 close

3/3 inputs reported · High confidence

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

Why it changed since the Oct 27, 2026 close: Score 28 → 33

Share price -22.7%+5

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Weaker than most peers on:

▼ Earnings yield
▼ EBITDA yield

Compare with peers

Behind the score

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

Earnings yield1.8%

SEC filings · 12 months to Jun 2026Reported value30% base weight · Z-score -0.66Sector median: 0.0377 · MAD: 0.0294

EBITDA yield4.9%

Yahoo Finance fallback · SEC enterprise value unavailable (debt or EBITDA not reported in standard form) · trailing 12 monthsReported value50% base weight · Z-score -0.49Sector median: 0.0695 · MAD: 0.0425

Free cash flow yield3.4%

SEC filings · 12 months to Jun 2026 · operating cash flow − capital spendingReported value20% base weight · Z-score -0.07Sector median: 0.0370 · MAD: 0.0370

Other data (not scored)

Book yield41.8%

SEC filings · latest balance sheetReported valueInformational · 0% composite weightSector median: 0.5027 · MAD: 0.2823

Growth

Is it growing?

84/100

Strong

3/3 inputs reported · High confidence

Since last quarter: ▲ Stronger

12-month revenue up 2.6%

Why

Stronger than most peers on:

▲ EPS growth
▲ Revenue 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 growth105.4%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 3.96Sector median: 0.0709 · MAD: 0.2481

3-year revenue growth4.9%

SEC filings · 3 years to Jun 2026Reported value33% base weight · Z-score 0.11Sector median: 0.0421 · MAD: 0.0625

Revenue growth10.2%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 0.76Sector median: 0.0439 · MAD: 0.0766

Profitability

Does it earn well?

43/100

Moderate

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Close to the peer norm on every measure.

Compare with peers

Behind the score

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

Operating margin6.6%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -0.23Sector median: 0.0773 · MAD: 0.0507

Return on assets3.9%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 0.31Sector median: 0.0311 · MAD: 0.0241

Return on invested capital5.2%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -0.36Sector median: 0.0715 · MAD: 0.0558

Other data (not scored)

Gross margin45.4%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.2573 · MAD: 0.1038

Return on equity4.4%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.0802 · MAD: 0.0639

Risk

Debt, liquidity, price swings

Lower

Lower relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Stronger than most peers on:

▲ Debt / equity
▲ Current ratio

Compare with peers

Behind the score

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

Beta1.42

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score -2.82Sector median: 0.6440 · MAD: 0.2745

Current ratio3.64×

SEC filings · latest balance sheetReported value33% base weight · Z-score 3.77Sector median: 1.6180 · MAD: 0.5360

Debt / equity<0.01×

Yahoo Finance fallback · no standard SEC debt tagOutlier capped at sector 5th/95th percentile33% base weight · Z-score 1.17Sector median: 0.4019 · MAD: 0.3378

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 Proto Labs

Is Proto Labs getting weaker?: Its latest SEC filing (Jul 31, 2026) showed no major changes. Its overall score is 59/100, up 1 since Oct 28, 2026.
How is Proto Labs valued vs its peers?: Priced higher than most peers relative to what it earns. Valuation scores 33/100 against 2,459 industrials peers. Earnings yield 1.8% vs a peer median of 3.8% (weaker than 69% of peers).Earnings yield 1.8% vs peers 3.8% (weaker than 69% of peers).
Is Proto Labs growing?: Yes, faster than most of its peers. Growth scores 84/100 against 2,459 industrials peers. Earnings per share growth 105.4% vs a peer median of 7.1% (stronger than 92% of peers).Earnings per share growth 105.4% vs peers 7.1% (stronger than 92% of peers).
How profitable is Proto Labs?: About as profitable as its peers. Profitability scores 43/100 against 2,459 industrials peers.
How risky is Proto Labs?: Lower risk relative to 2,459 industrials peers, judged on debt, liquidity and share-price swings. Debt / equity <0.01× vs a peer median of 0.40× (stronger than 95% of peers).Debt / equity <0.01× vs peers 0.40× (stronger than 95% of peers). Beta 1.42 vs a peer median of 0.64 (weaker than 92% of peers).Beta 1.42 vs peers 0.64 (weaker than 92% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jun 30, 2026 · filed Jul 31, 2026 · compared with the quarter ended Mar 31, 2026

No major changes

	Previous quarter	Latest quarter	Change
Revenue (12 months)	546.3M USD	560.5M USD	+2.6%
Net income (12 months)	25.8M USD	30.5M USD	+18.3%
Operating margin	5.6%	6.6%	+1.0 pts
Free cash flow (12 months)	56.5M USD	56.7M USD	+0.2%
Cash	124.0M USD	127.9M USD	+3.2%
Shares outstanding	23.8M	23.9M	+0.5%

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

Industry valuation context

Sector: Industrials · 318 companies

Valuations in Industrials are near the top of their range since 2016.

85% of months since 2016 were valued lower than now.
41% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values +20% and earnings +14% (medians): prices and earnings moved broadly together.
Median price-to-sales is −24% vs the whole market, against a usual −31%.

2016Shaded: most expensive fifth of its range2026

Shown for Industrials: too few Metal Fabrication companies have a long enough history of their own.

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	45.6%	44.1%	44.1%	44.6%	44.5%	▼ 0.1 pts
Operating margin	8.3%	-20.1%	5.6%	4.0%	4.7%	▲ 0.7 pts
Net margin	6.8%	-21.2%	3.4%	3.3%	4.0%	▲ 0.7 pts
Return on assets (ROA)	3.6%	-12.9%	2.2%	2.2%	2.8%	▲ 0.6 pts
Return on equity (ROE)	4.0%	-14.8%	2.5%	2.5%	3.2%	▲ 0.7 pts
Free cash flow margin	4.3%	8.3%	9.0%	13.7%	11.2%	▼ 2.5 pts
Current ratio	3.34×	2.61×	4.04×	3.66×	3.49×	▼ 4.7%
Quick ratio	3.10×	2.42×	3.76×	3.43×	3.27×	▼ 4.6%

PRLB 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

Strength: growing faster than most peersgrowing faster than peers

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

Drawback: its share price swings more than most peers’ (beta 1.42 vs a peer median of 0.64)bigger price swings (beta 1.42 vs peers 0.64)

About average: profitability

Ranks #775 of 2,308 industrials companies (top 34%)

See how it ranks against its peers

Worth knowing

Share count shrinking. Shares outstanding down 11% from December 2022 to July 2026.

Proto Labs had 11% fewer shares at July 2026 than at December 2022, mainly through buybacks, so each remaining share owns a larger slice of the business.

Profit is backed by cash. Free cash flow is 186% of reported profit.

Proto Labs's free cash flow is 186% of its reported profit, so its earnings are turning into cash it can reinvest, pay out or use to reduce debt.

Little borrowing. Debt is 0.00× equity vs a peer median of 0.4×.Debt is 0.00× equity vs peers 0.4×.

Proto Labs has among the least debt in its peer group relative to shareholders' equity.

More volatile share price. Beta 1.42: tends to move more than the market.

Proto Labs's shares have swung more with the market than most peers' (beta 1.42, above the market's 1.0).

Questions investors ask about Proto Labs

Is Proto Labs getting weaker?

Its latest SEC filing (Jul 31, 2026) showed no major changes. Its overall score is 59/100, up 1 since Oct 28, 2026.

How is Proto Labs valued vs its peers?

Priced higher than most peers relative to what it earns. Valuation scores 33/100 against 2,459 industrials peers. Earnings yield 1.8% vs a peer median of 3.8% (weaker than 69% of peers).Earnings yield 1.8% vs peers 3.8% (weaker than 69% of peers).

Is Proto Labs growing?

Yes, faster than most of its peers. Growth scores 84/100 against 2,459 industrials peers. Earnings per share growth 105.4% vs a peer median of 7.1% (stronger than 92% of peers).Earnings per share growth 105.4% vs peers 7.1% (stronger than 92% of peers).

How profitable is Proto Labs?

About as profitable as its peers. Profitability scores 43/100 against 2,459 industrials peers.

How risky is Proto Labs?

Lower risk relative to 2,459 industrials peers, judged on debt, liquidity and share-price swings. Debt / equity <0.01× vs a peer median of 0.40× (stronger than 95% of peers).Debt / equity <0.01× vs peers 0.40× (stronger than 95% of peers). Beta 1.42 vs a peer median of 0.64 (weaker than 92% of peers).Beta 1.42 vs peers 0.64 (weaker than 92% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

546.3M USD

560.5M USD

+2.6%

Net income (12 months)

25.8M USD

30.5M USD

+18.3%

Operating margin

5.6%

6.6%

+1.0 pts

Free cash flow (12 months)

56.5M USD

56.7M USD

+0.2%

Cash

124.0M USD

127.9M USD

+3.2%

Shares outstanding

23.8M

23.9M

+0.5%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Gross margin

45.6%

44.1%

44.6%

44.5%

▼ 0.1 pts

Operating margin

8.3%

-20.1%

5.6%

4.0%

4.7%

▲ 0.7 pts

Net margin

6.8%

-21.2%

3.4%

3.3%

4.0%

▲ 0.7 pts

Return on assets (ROA)

3.6%

-12.9%

2.2%

2.8%

▲ 0.6 pts

Return on equity (ROE)

4.0%

-14.8%

2.5%

3.2%

▲ 0.7 pts

Free cash flow margin

4.3%

8.3%

9.0%

13.7%

11.2%

▼ 2.5 pts

Current ratio

3.34×

2.61×

4.04×

3.66×

3.49×

▼ 4.7%

Quick ratio

3.10×

2.42×

3.76×

3.43×

3.27×

▼ 4.6%