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
|Sigma Additive Solutions
This week was a good one for 3D printing.
Markets were up over last week’s disastrous results, and most companies on the leaderboard saw significant increases in value, with the total going up a very healthy 6.57%.
However, there was a bit of unusual pattern evident. The major companies towards the top of the leaderboard saw typical increases of four to nine percent, which is notable. However, the companies towards the lower end of the leaderboard say much more modest gains, if any at all. It would appear investors, at least this week, saw value in the “more stable” larger players and less so in the “often unstable” smaller players.
There were exceptions, however. FATHOM, for example, struck gold somehow with a massive 28% rise in value. This company, a manufacturing service, has been up and down significantly for a long time.
However, if you look at the long term chart (which, by the way, encompasses their entire term on the stock market), they’ve basically been on a downward trend. This week’s upward shift hardly makes up for the months of decreases.
Another surprise on the leaderboard this week was Velo3D, manufacturer of a highly regarded metal 3D printing system that’s being rapidly adopted by aerospace companies. In spite of their good technological positioning, the stock has been treated quite badly by investors for months, with unexplained drops and few rises. This week, one in which everyone else seemed to rise, saw Velo3D’s value actually drop by over two percent. Had they followed along with their comrades on the leaderboard, they might have seen a six percent gain; instead, they dropped.
Again, there is no news to drive this effect, and it must be that the company has some strange reputation among investors. However, they are set to announce their quarterly earnings on November 8th, so we’ll see what’s actually happening there.
If the company disappoints in earnings, then that may be a signal that investors in the know sought to sell stock before then. On the other hand, if the stock rises, why did anyone sell this week?
Despite the good news this week, I have to point out that the leaderboard is dramatically lower than it has been in the past. Here’s a chart of the leaderboard’s total from when we launched back in 2021.
As you can see, the leaderboard total value was much higher than today back last fall. It’s even worse when you consider that multiple companies have been added to our list since then, demonstrating the enormous loss of value that’s taken place over the past year.
Hopefully next year will be better.
A company set to appear was 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.
One company I’ve started to watch is ICON, the Texas-based construction 3D printer manufacturer. This privately-held company has been raising a significant amount of investment to the tune of almost half a billion dollars. At that level it is likely they will be discussing a transition to public markets at some point, which would certainly place them at or near the top of our leaderboard.
Another company that would seem logical to go public is VulcanForms, a manufacturing service using an advanced metal 3D printing process. They are currently privately valued at over US$1B, and going public could cause that to go even higher.
If you are aware of any other publicly-traded 3D print companies that should be on our leaderboard, please let us know!
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 and Formlabs.
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.