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.
You might think it’s not important to monitor these companies each week, as their value is realized only when stocks are sold. However, events happen to companies occasionally that cause their value to rise and fall, and this weekly post is where we track such things.
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 take a look at the 3D printing companies on this week’s list.
3D Printing Leaderboard
This week saw mixed results, and a surprisingly small effect, given the commencement of a sizable war in Eastern Europe. Overall our leaderboard dropped by only 1.4% over the week, only slightly larger than the market as a whole. High tech stocks such as those on the leaderboard tend to get an exaggerated effect from the market in general.
There were a couple of specific moves that were interesting.
One was Stratasys, currently in third position on the leaderboard. The company announced late in the week their financial results for 2021, and they were actually quite positive. They gained 17.3% in revenue over 2020Q4, and have half a billion dollars in cash or equivalents with no debt. They still posted a loss for the quarter, but that’s for a company recovering from pandemic issues.
Strangely, the market punished Stratasys by dropping their value by over six percent during the week. Most of the droppage occurred the day before and after the financial release, so investors apparently did not like what they saw. Still, I believe Stratasys is in an excellent position for major growth, especially considering the powerful acquisitions they’ve recently made.
Markforged dropped a huge 15% in value over the week, and the only news from the company is that they’ve announced the date for releasing their 2021 financials. They didn’t release the financials — they just stated the date for the release. The date is March 15th, and I can’t imagine what investors are thinking here.
Voxeljet continued its slow decrease in value, this week losing almost 13%. The company has been declining in value for quite a while, and they likely need to introduce new products to regain value. On the other hand, their low price might attract buyers from the top end of the leaderboard, so could we be seeing an opportunity here?
We are still awaiting the appearance on the market of one more 3D print company: Fast Radius, a digital manufacturing cloud service that announced their intention to go public.
Another company set to appear in early 2022 is Essentium, who announced plans to use a SPAC-merger to launch on NASDAQ. However, that deal has been suspended so we’re wondering what the company’s next steps might be.
Another company to keep an eye on is ICON, the maker of the Vulcan II, a powerful construction 3D printer that has been used in a number of high profile 3D printed building projects. This week the company raised even more private investment, and I can only suspect they are now contemplating going public to leverage their no-doubt high internal valuation. It’s possible they might be at or near the top of our leaderboard if they did so.
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 know 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.