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 was in general a down week for all companies, in spite of the overall market gaining a small amount. Normally 3D print stocks are dragged up or down with the rest of the market, but apparently not this week.
There’s two exceptions, however: Xometry and Protolabs. While all the other major players dropped between 2-5% in market value, both Xometry and Protolabs saw gains. Xometry gained almost three percent on their first week of trading, while Protolabs jumped over four percent in value.
It’s interesting to note that the two companies that gained were service providers, rather than (mostly) machine makers, who make up the rest of the major players list (an exception being Materialise, which does provide services, but mostly operates in the software zone).
Could it be that the market believes there are bigger futures in 3D print services than the machines themselves? Might they be thinking that the market for 3D print equipment is competitive and driving prices down, while that isn’t the case with services?
If this trend continues, could see other privately-held 3D print services begin public trading? This may be a good time for such organizations to seek additional investment.
|9||ARC Group WW||32||-2|
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 no change in rankings, similar to the major players list. As usual, the absolute change in market values was quite small as compared to the major players. However these small amounts sometimes correspond to large percentage gains or losses.
For example, this week ARC Group WW saw a loss in market value of around US$2M, but that represents a percentage loss of a huge seven percent.
The only smaller player to gain this week was voxeljet, whose value went up according to the market overall by about 1.5%.
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.
Unfortunately, no changes to our lists occurred this week, but we are still anxiously awaiting the initial trading days for Shapeways, Markforged and VELO3D, all of which just might show up on the 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.