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
| RANK | COMPANY | CAP | CHG |
| 1 | Bright Laser | $1,751 | -155 |
| 2 | Xometry | $1,442 | -66 |
| 3 | Farsoon | $1,084 | -103 |
| 4 | Proto Labs | $918 | -62 |
| 5 | Stratasys | $661 | +113 |
| 6 | Nano Dimension | $463 | -11 |
| 7 | Materialise | $407 | +10 |
| 8 | 3D Systems | $397 | -49 |
| 9 | Desktop Metal | $150 | -3 |
| 10 | Titomic | $148 | -45 |
| 11 | Markforged | $84 | -7 |
| 12 | AML3D | $52 | +3 |
| 13 | BigRep | $31 | -14 |
| 14 | Aurora Labs | $18 | +0 |
| 15 | Velo3D | $14 | +0 |
| 16 | Massivit | $8 | +0 |
| 17 | Steakholder Foods | $7 | -0 |
| 18 | Freemelt | $4 | -0 |
| 19 | Sygnis | $2 | -1 |
| TOTAL | $7,640 | -390 |
This week was mostly down on the markets in general, and the 3D print leaderboard followed the pattern, with a decline of almost five percent on the week. As usual, there were some notable exceptions.
At the top of the leaderboard, our two Chinese companies, Bright Laser and Farsoon, both suffered around an eight percent drop this week. This is likely a general effect from their markets, which declined notably this week.
The winner of the week was clearly Stratasys, which gained a whopping 20+% this week. That’s quite extraordinary because such large swings are usually reserved for the lower cap companies; meanwhile, Stratasys is fifth on our leaderboard.
Why did they rise so substantially this week? It’s mostly due to their release of 3Q financials this week, which showed results in excess of their earlier estimates. Those estimates drove the pricing of the company’s stock, and if things turn out different — and they did — then the stock price reacts quickly. Specifically, the company improved their earnings per share, and that’s likely the source of the boost.
However, the company still posted a net loss and revenue actually declined year over year. However, they did increase their margin, and maintain positive cash flow. Nevertheless, investors liked what they saw.
This stretched Stratasys’ lead over rivals Nano Dimension, now US$198M behind, and 3D Systems (US$264M behind). Both of those companies shrank in value this week, with 3D Systems incurring an eleven percent drop.
Titomic suffered a gigantic decline in value of over 23% this week. The Australian metal 3D printer manufacturer, which was in tenth place last week, has been the subject of a series of mysterious boosts in value over the past year. Valued at US$148M this week, a year ago they were valued at only US$6M. That’s an incredible 25X gain over twelve months, most of which has been unexplained by the company, aside from announcing a venture in the US recently.
This week’s loss in value is possibly due to investors cashing out their very substantial gains.
BigRep lost even more value than Titomic this week, dropping some 32%. The company gained a huge amount last week due to the announcement of major changes at the top. This week it seems the initial enthusiasm over the changes has subsided, but the company’s value dropped only about half of what it gained last week.
Upcoming Changes
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.
Related Companies
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.
