Kopin Corporation Common Stock (KOPN)

FairStock Score: 30/100 — RISKY

Key Financials

AI Analysis

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

Kopin is a $784 million market-cap microdisplay maker with only 145 employees, selling into defense, enterprise, industrial, and consumer markets. The niche technology may have some switching costs in defense, but the numbers do not show a durable moat: revenue was $39.3 million in fiscal 2025 (year ended 2025-12-27), down from $50.3 million in fiscal 2024 (year ended 2024-12-28). Earnings are erratic. Fiscal 2025 produced $2.6 million of net income and $0.01 diluted EPS, a turnaround from a $43.9 million loss in fiscal 2024 and a $19.7 million loss in fiscal 2023. More recently, fiscal Q2 2026 (quarter ended 2026-06-27) had $12.7 million revenue and $830,872 net income, but fiscal Q1 2026 (quarter ended 2026-03-28) lost $3.8 million on $10.6 million revenue. Free cash flow is negative—$15.2 million trailing, a FairStock-calculated FCF yield of -1.9%—and ROCE is -11.25%, so the business is not earning its cost of capital despite low debt (D/E 0.02) and a high Altman Z-score of 8.80. At the 2026-10-13 close of $4.22, FairStock calculations show P/E 105.50, P/B 11.11, and a Graham Number of $0.59, leaving no margin of safety. The Lynch category is TURNAROUND—returned to profit after losses—but the latest filed figures remain lumpy and cash-hungry. I would want consistent positive cash flow and revenue stability before calling this a bargain.

In plain English: Kopin makes tiny display screens and related parts for defense, industrial, and consumer products. The business is small, and its results swing between profit and loss; it made money in some recent quarters but lost money in others, and it has been burning cash. At $4.22 on 2026-10-13, the price looks expensive compared with its very small earnings and accounting value.

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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 2026-06-27) · fiscal Q1 2026 10-Q (period ended 2026-03-28) · fiscal Q3 2025 10-Q (period ended 2025-09-27) · fiscal Q2 2025 10-Q (period ended 2025-06-28) · FY2025 10-K (period ended 2025-12-27) · FY2024 10-K (period ended 2024-12-28) · FY2023 10-K (period ended 2023-12-30)

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