PRLB
Proto Labs, Inc.
PRLB's fundamentals are strong: its operating margin rose 4 points to 7.3% and earnings per share more than doubled, though free cash flow fell 28%. At 48x earnings, it's trading in line with its usual 53x. Analysts expect strong earnings growth.
PRLB Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Stable | |
| Strong |
PRLB's revenue, profitability and balance sheet are currently healthy, and its cash flow is stable.
PRLB PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 29x | $68.61 | — |
| Cheap | 39x | $55.46 | -19% |
| Current | 48x | $68.61 | — |
| Fair | 52x | $74.95 | +9.2% |
| Expensive | 71x | $102 | +49% |
Historical ranges are pointers, not guarantees.
PRLB's PE is in its fair range at 48x. If earnings grow as analysts expect, today's price would be 29x next year's earnings, in its cheap range.
PRLB Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Growth | |
| Improving | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for PRLB, with profitability improving.
PRLB Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $2.39 | +67% |
| Q3 2026 | $1.43 | +131% |
| Q2 2026 | $1.25 | +105% |
| Q1 2026 | $1.06 | +74% |
| Q4 2025 | $0.88 | +33% |
| Q3 2025 | $0.62 | -33% |
| Q2 2025 | $0.61 | -36% |
| Q1 2025 | $0.61 | -20% |
| Q4 2024 | $0.66 | 0% |
PRLB's earnings per share have fallen from their peak: $1.43 over the past year, against $2.35 in late 2019.
PRLB Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $154.3M | +14% |
| Q2 2026 | $149.3M | +11% |
| Q1 2026 | $139.3M | +10% |
| Q4 2025 | $136.5M | +12% |
| Q3 2025 | $135.4M | +7.8% |
| Q2 2025 | $135.1M | +7.5% |
| Q1 2025 | $126.2M | -1.3% |
| Q4 2024 | $121.8M | -2.6% |
PRLB's revenue has grown year over year for six quarters in a row: $154M last quarter, up 14% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 9.4% | +2.8 points |
| Q2 2026 | 7.6% | +3.9 points |
| Q1 2026 | 7.1% | +3.5 points |
| Q4 2025 | 5% | +6.2 points |
| Q3 2025 | 6.5% | -0.3 points |
| Q2 2025 | 3.7% | -1.1 points |
| Q1 2025 | 3.6% | -1.8 points |
| Q4 2024 | -1.2% | -7.9 points |
PRLB's operating margin was 9.4% last quarter, up 2.8 points from the same quarter a year ago.
PRLB Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $17M | -32% |
| Q2 2026 | $9.2M | +1.3% |
| Q1 2026 | $14M | -18% |
| Q4 2025 | $8.4M | -49% |
| Q3 2025 | $25M | +7.9% |
| Q2 2025 | $9.1M | -11% |
| Q1 2025 | $17.1M | -8.7% |
| Q4 2024 | $16.5M | +$17.4M |
PRLB generated $49M in free cash flow over the past year, down 28% from the year before.
PRLB Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.1% | +23K shares |
| 1 year | +1% | +248K shares |
| 3 years | -6.1% | -1.6M shares |
| 5 years | -12% | -3.3M shares |
| Available history | -9.7% | -2.6M shares |
PRLB has 24M diluted shares, up 1% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | $5M |
| Q2 2026 | $5M |
| Q1 2026 | — |
| Q4 2025 | $6.2M |
| Q3 2025 | $12.8M |
| Q2 2025 | $3.1M |
| Q1 2025 | $20.9M |
| Q4 2024 | $14.3M |
PRLB spent $16M buying back its own shares over the past year, down 68% from the year before.
PRLB Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -1.8x | Net Cash |
| Q2 2026 | -1.8x | Net Cash |
| Q1 2026 | -2.0x | Net Cash |
| Q4 2025 | -1.9x | Net Cash |
| Q3 2025 | -2.0x | Net Cash |
| Q2 2025 | -1.8x | Net Cash |
| Q1 2025 | -1.6x | Net Cash |
| Q4 2024 | -1.6x | Net Cash |
PRLB has more cash than debt.
PRLB Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 42.2 | Neutral |
| Stochastic | 12.3 | Oversold |
PRLB's weekly RSI is 42 (neutral) and its Stochastic is 12 (oversold).
PRLB PE vs Industrials Sector
| Metric | PRLB | Sector median | Relative |
|---|---|---|---|
| PE | 48x | 24x | 100% above |
| PE % | 44 | 58 | 14 pts below |
PRLB is trading at 48x earnings, a 100% premium to the Industrials sector's median of 24x.
PRLB Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $82.8 | 17% below |
| 20 week MA | $81.8 | 16% below |
| 50 week MA | $70.3 | 2.4% below |
| 100 week MA | $56.4 | 22% above |
| 200 week MA | $44.5 | 54% above |
PRLB has pulled back, but its long-term trend is still up: it's below its 8-, 20- and 50-week averages, but 54% above its 200-week average.
PRLB Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $101.1 | $172.6 | +71% |
| 2021 | $172.6 | $52.8 | -69% |
| 2022 | $52.8 | $24.8 | -53% |
| 2023 | $24.8 | $39.0 | +57% |
| 2024 | $39.0 | $39.6 | +1.5% |
| 2025 | $39.6 | $52.7 | +33% |
| 2026 YTD | $52.7 | $68.6 | +30% |
PRLB has finished higher in four of the last six years, two of them by more than 50%. It's up 30% so far in 2026.