Once again we take a look at the valuations of the major 3D printing companies over the past week.
Publicly traded companies are required to post their financial reports, as well as appear on stock markets. From there we can calculate the total value of their company by multiplying the current stock price by the number of outstanding shares. This number is the market capitalization, and represents the current valuation of the company.
It’s a great number of compare companies, as the market capitalization can be leveraged to provide more capabilities for the company. Shares could, for example, be used as collateral for a loan. That and similar maneuvers could generate cash with which the company might undertake new projects.
In other words, “market cap”, as it is known, is quite important.
Note that our list here does not include all major 3D print companies. Not all 3D print companies are publicly traded, and thus we cannot officially know their true size, such as EOS. Others, like HP or Siemens, have very large 3D printing divisions, but are part a much larger enterprises and we cannot know the true size of their 3D printing activities.
Let’s first take a look at the major 3D printing companies on this week’s list. I consider these companies “major” because their market valuations are significantly larger than others in the space.
This week saw a shift at the top.
Newcomer Xometry, which debuted on the market only a few weeks ago, had shot right to the top of the list, where they’ve been for a couple of weeks. The drop could be due to a bounce-back after the heated trading that occurred when they first became tradable. Nevertheless, this week they were overtaken by 3D Systems.
Why did 3D Systems gain this week? It may have something to do with their quarterly report, which all publicly traded companies must issue shortly after the end of each quarter.
3D Systems reported something we haven’t seen in a very long time: a quarterly profit! The net income was US$45.2M, a healthy amount, which coincided with an increase in revenue over 2020Q2. However, comparisons to 2020 have an asterix due to the difficult times during that period.
In particular, 3D Systems’ healthcare revenues soared by an astonishing 38.7%, whereas their traditional industrial revenues were flat.
It seems that the strategy of new CEO Jeffrey Graves is paying off. The company has been aggressively divesting, investing, cleaning up and focusing on profitable lines of business.
Meanwhile, Xometry’s stock price tumbled by five percent, allowing 3D Systems to overtake them on our rankings.
Finally, Stratasys gained a notable eight percent on the week, likely due to relatively positive news on their quarterly report. They didn’t quite become profitable as 3D Systems did, but they are getting closer.
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The lesser valued companies tend to have much smaller shifts in their market capitalization because there is far less trading occurring on their stocks. The big money tends to hover around the larger players.
This week saw minor changes in market capitalization for the companies on the list with nothing notable to report and no changes in rank.
Note that we are unable to obtain Massivit’s market cap value, as it does not seem to be published, even though they are a publicly traded company on the Tel Aviv Stock Exchange.
We still await the debut of Shapeways and VELO3D, both of which have announced they intend to become publicly traded this year. They could appear on the market at any time, and I expect them to show up on our major players list.
Others In The Industry
While we’ve been following the public companies, don’t forget there are a number of private companies that don’t appear on any stock exchange. These privately-held companies likely have significant value, it’s just that we can’t now exactly what it is at any moment. The suspected bigger companies include EOS, Carbon, Formlabs and SLM Solutions.
Perhaps someday some of them will appear on our major players list.
Finally, there are a number of companies that are deeply engaged in the 3D print industry, but that activity is only a small slice of their operations. Thus it’s not fair to place them on the lists above because we don’t really know where their true 3D print activities lie.