Glaukos Corporation Common Stock (GKOS)

FairStock Score: 26/100 — RISKY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I approach Glaukos as a Graham-style skeptic and a Buffett-style business observer. It sells ophthalmic devices, including iStent stents, for glaucoma and related eye disease. Revenue is moving: in fiscal Q2 2026, the quarter ended 2026-06-30, sales were $185.6 million, up from $124.1 million in fiscal Q2 2025, the quarter ended 2025-06-30. In FY2025, the fiscal year ended 2025-12-31, revenue was $507.4 million versus $383.5 million in FY2024, the fiscal year ended 2024-12-31. That suggests adoption. But the bottom line remains negative: fiscal Q2 2026 net income was -$18.4 million, or -$0.31 per diluted share, and FY2025 net income was -$187.7 million, or -$3.28 per diluted share. FY2024, ended 2024-12-31, and FY2023, ended 2023-12-31, also lost money. Trailing free cash flow is -$28.8 million, a -0.3% FCF yield as FairStock calculates. The balance sheet has modest debt, with D/E of 0.16, and Altman Z of 23.81, but returns are poor: FairStock's ROE is -25.98% and ROCE is -5.18%. The Piotroski F-Score is 6/9. FairStock's Lynch category is none because the company had losses in each of the last four years. At the 2026-10-13 close of $165.50, FairStock calculates a P/E of -50.46 and P/B of 14.27 on a $9.8 billion market cap. That is not a Graham bargain; it prices future success. A specialized medical-device franchise may have value, but it has not yet produced owner earnings. Until profits and cash flow turn positive, the stock is speculation on execution.

In plain English: Glaukos makes small eye implants and treatments for glaucoma and other eye diseases. Sales are growing quickly, but the company still loses money and spends more cash than it brings in. At $165.50 a share, the price looks expensive compared with those losses and its accounting value.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer