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Proto Labs Inc Financials

PRLB
Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Proto Labs Inc (PRLB) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 52 / 100
Financial Profile 52/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability
33

Proto Labs Inc has an operating margin of 4.7%, meaning the company retains $5 of operating profit per $100 of revenue. This results in a moderate score of 33/100, indicating healthy but not exceptional operating efficiency. This is up from 4.0% the prior year.

Growth
44

Proto Labs Inc's revenue grew 6.4% year-over-year to $533.1M, a solid pace of expansion. This earns a growth score of 44/100.

Leverage
99

Proto Labs Inc carries a low D/E ratio of 0.13, meaning only $0.13 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 99/100, indicating a strong balance sheet with room for future borrowing.

Liquidity
68

With a current ratio of 3.49, Proto Labs Inc holds $3.49 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 68/100.

Cash Flow
53

Proto Labs Inc has a free cash flow margin of 11.2%, earning a moderate score of 53/100. The company generates positive cash flow after capital investments, but with room for improvement.

Returns
18

Proto Labs Inc generates a 3.1% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 18/100. This is up from 2.5% the prior year.

Altman Z-Score Safe
10.72

Proto Labs Inc scores 10.72, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($1.4B) relative to total liabilities ($89.5M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.

Piotroski F-Score Neutral
6/9

Proto Labs Inc passes 6 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality Cash-Backed
3.51x

For every $1 of reported earnings, Proto Labs Inc generates $3.51 in operating cash flow ($74.5M OCF vs $21.2M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue
$533.1M
YoY+6.4%
5Y CAGR+4.2%
10Y CAGR+7.3%

Proto Labs Inc generated $533.1M in revenue in fiscal year 2025. This represents an increase of 6.4% from the prior year.

EBITDA
$58.9M
YoY+5.8%
5Y CAGR-8.6%
10Y CAGR-3.2%

Proto Labs Inc's EBITDA was $58.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 5.8% from the prior year.

Net Income
$21.2M
YoY+28.0%
5Y CAGR-16.0%
10Y CAGR-7.5%

Proto Labs Inc reported $21.2M in net income in fiscal year 2025. This represents an increase of 28.0% from the prior year.

EPS (Diluted)
$0.88
YoY+33.3%
5Y CAGR-14.2%
10Y CAGR-6.7%

Proto Labs Inc earned $0.88 per diluted share (EPS) in fiscal year 2025. This represents an increase of 33.3% from the prior year.

Cash & Balance Sheet

Free Cash Flow
$59.7M
YoY-13.1%
5Y CAGR-0.1%
10Y CAGR+11.7%

Proto Labs Inc generated $59.7M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 13.1% from the prior year.

Cash & Debt
$110.8M
YoY+24.4%
5Y CAGR-2.8%
10Y CAGR+8.8%

Proto Labs Inc held $110.8M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share
N/A
Shares Outstanding
24M
YoY-2.5%
5Y CAGR-3.1%
10Y CAGR-1.0%

Proto Labs Inc had 24M shares outstanding in fiscal year 2025. This represents a decrease of 2.5% from the prior year.

Margins & Returns

Gross Margin
44.5%
YoY-0.1pp
5Y CAGR-5.7pp
10Y CAGR-14.0pp

Proto Labs Inc's gross margin was 44.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 0.1 percentage points from the prior year.

Operating Margin
4.7%
YoY+0.7pp
5Y CAGR-9.1pp
10Y CAGR-20.7pp

Proto Labs Inc's operating margin was 4.7% in fiscal year 2025, reflecting core business profitability. This is up 0.7 percentage points from the prior year.

Net Margin
4.0%
YoY+0.7pp
5Y CAGR-7.7pp
10Y CAGR-13.6pp

Proto Labs Inc's net profit margin was 4.0% in fiscal year 2025, showing the share of revenue converted to profit. This is up 0.7 percentage points from the prior year.

Return on Equity
3.1%
YoY+0.7pp
5Y CAGR-4.7pp
10Y CAGR-11.0pp

Proto Labs Inc's ROE was 3.1% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 0.7 percentage points from the prior year.

Capital Allocation

R&D Spending
$42.8M
YoY+3.7%
5Y CAGR+3.0%
10Y CAGR+8.8%

Proto Labs Inc invested $42.8M in research and development in fiscal year 2025. This represents an increase of 3.7% from the prior year.

Share Buybacks
$43.0M
YoY-28.7%
5Y CAGR+23.9%

Proto Labs Inc spent $43.0M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 28.7% from the prior year.

Capital Expenditures
$14.8M
YoY+61.9%
5Y CAGR-20.6%
10Y CAGR-10.4%

Proto Labs Inc invested $14.8M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 61.9% from the prior year.

PRLB Income Statement

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Revenue $136.5M+0.8% $135.4M+0.2% $135.1M+7.0% $126.2M+3.7% $121.8M-3.1% $125.6M0.0% $125.6M-1.8% $127.9M
Cost of Revenue $76.1M+2.8% $74.1M-1.6% $75.3M+6.8% $70.5M+1.0% $69.8M+2.1% $68.4M-1.0% $69.1M-1.9% $70.4M
Gross Profit $60.4M-1.5% $61.3M+2.5% $59.8M+7.3% $55.7M+7.2% $52.0M-9.2% $57.2M+1.2% $56.5M-1.6% $57.5M
R&D Expenses $10.3M-3.6% $10.7M-4.2% $11.2M+5.3% $10.6M+9.4% $9.7M-0.8% $9.8M-8.3% $10.7M-4.5% $11.2M
SG&A Expenses $17.1M-0.7% $17.2M-8.5% $18.8M+11.3% $16.8M+11.1% $15.2M-6.7% $16.3M-2.0% $16.6M+1.7% $16.3M
Operating Income $6.8M-22.8% $8.8M+77.3% $5.0M+9.7% $4.5M+403.1% -$1.5M-117.4% $8.6M+43.0% $6.0M-12.1% $6.8M
Interest Expense N/A N/A N/A N/A N/A N/A N/A N/A
Income Tax $2.2M-29.1% $3.0M+35.1% $2.2M-5.8% $2.4M+1855.7% $122K-95.4% $2.7M-5.0% $2.8M+14.7% $2.5M
Net Income $6.0M-16.9% $7.2M+63.0% $4.4M+23.0% $3.6M+990.8% -$404K-105.6% $7.2M+58.3% $4.5M-13.8% $5.3M
EPS (Diluted) N/A $0.30+66.7% $0.18+20.0% $0.15 N/A $0.29+61.1% $0.18-10.0% $0.20

PRLB Balance Sheet

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Total Assets $763.4M+0.9% $756.9M+1.8% $743.3M+0.8% $737.5M-0.8% $743.5M-1.4% $753.8M-0.6% $758.2M-1.5% $769.8M
Current Assets $233.5M+3.4% $225.8M+9.9% $205.5M+5.7% $194.4M-0.2% $194.9M+0.9% $193.1M-7.0% $207.6M-1.3% $210.4M
Cash & Equivalents $110.8M+6.1% $104.4M+15.5% $90.4M+9.3% $82.7M-7.2% $89.1M+1.4% $87.9M-8.6% $96.1M+3.6% $92.8M
Inventory $14.4M+2.3% $14.1M+6.9% $13.2M-0.2% $13.2M+7.3% $12.3M-0.9% $12.4M+0.5% $12.4M-3.6% $12.8M
Accounts Receivable $79.0M+1.5% $77.8M-0.3% $78.0M+5.6% $73.9M+11.1% $66.5M-4.3% $69.5M-2.0% $70.9M-8.9% $77.8M
Goodwill $274.0M0.0% $274.0M0.0% $274.0M0.0% $274.0M0.0% $274.0M0.0% $274.0M0.0% $274.0M0.0% $274.0M
Total Liabilities $89.5M-2.9% $92.1M+17.3% $78.5M-2.6% $80.6M+9.9% $73.4M-0.6% $73.8M+1.1% $73.0M-11.5% $82.5M
Current Liabilities $67.0M-3.9% $69.7M+12.2% $62.2M+0.1% $62.1M+16.6% $53.3M-0.9% $53.8M+5.5% $50.9M-12.8% $58.4M
Long-Term Debt N/A N/A N/A N/A N/A N/A N/A N/A
Total Equity $673.9M+1.4% $664.7M0.0% $664.7M+1.2% $656.8M-2.0% $670.2M-1.4% $680.0M-0.8% $685.2M-0.3% $687.3M
Retained Earnings $240.8M+0.9% $238.6M-0.3% $239.3M+1.2% $236.6M-3.2% $244.4M-3.3% $252.8M-0.2% $253.2M-0.1% $253.4M

PRLB Cash Flow Statement

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Operating Cash Flow $16.5M-43.4% $29.1M+174.8% $10.6M-42.4% $18.4M+6.3% $17.3M-30.1% $24.8M+71.4% $14.4M-32.3% $21.3M
Capital Expenditures $8.1M+98.2% $4.1M+176.7% $1.5M+16.3% $1.3M+52.0% $830K-46.6% $1.6M-62.9% $4.2M+62.2% $2.6M
Free Cash Flow $8.4M-66.4% $25.0M+174.6% $9.1M-46.7% $17.1M+4.0% $16.5M-29.0% $23.2M+126.4% $10.2M-45.4% $18.8M
Investing Cash Flow -$5.6M-31.8% -$4.3M-561.3% -$643K+77.9% -$2.9M-0.4% -$2.9M+79.8% -$14.3M-1802.9% -$754K-117.1% $4.4M
Financing Cash Flow -$4.5M+58.2% -$10.7M-230.6% -$3.2M+85.2% -$21.9M-74.8% -$12.5M+34.3% -$19.1M-85.5% -$10.3M+38.1% -$16.6M
Dividends Paid N/A N/A N/A N/A N/A N/A N/A N/A
Share Buybacks $6.2M-51.1% $12.8M+312.7% $3.1M-85.2% $20.9M+45.9% $14.3M-24.7% $19.0M+74.0% $10.9M-31.8% $16.0M

PRLB Financial Ratios

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Gross Margin 44.2%-1.0pp 45.3%+1.0pp 44.3%+0.1pp 44.1%+1.5pp 42.7%-2.9pp 45.6%+0.6pp 45.0%+0.1pp 44.9%
Operating Margin 5.0%-1.5pp 6.5%+2.8pp 3.7%+0.1pp 3.6%+4.8pp -1.2%-8.1pp 6.8%+2.0pp 4.8%-0.6pp 5.3%
Net Margin 4.4%-0.9pp 5.3%+2.0pp 3.3%+0.4pp 2.9%+3.2pp -0.3%-6.0pp 5.7%+2.1pp 3.6%-0.5pp 4.1%
Return on Equity 0.9%-0.2pp 1.1%+0.4pp 0.7%+0.1pp 0.5%+0.6pp -0.1%-1.1pp 1.1%+0.4pp 0.7%-0.1pp 0.8%
Return on Assets 0.8%-0.2pp 0.9%+0.3pp 0.6%+0.1pp 0.5%+0.5pp -0.1%-1.0pp 0.9%+0.3pp 0.6%-0.1pp 0.7%
Current Ratio 3.49+0.2 3.24-0.1 3.31+0.2 3.13-0.5 3.66+0.1 3.59-0.5 4.08+0.5 3.60
Debt-to-Equity 0.130.0 0.14+0.0 0.120.0 0.12+0.0 0.110.0 0.110.0 0.11-0.0 0.12
FCF Margin 6.2%-12.3pp 18.5%+11.7pp 6.8%-6.8pp 13.6%+0.0pp 13.5%-5.0pp 18.5%+10.3pp 8.2%-6.5pp 14.7%

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Frequently Asked Questions

Proto Labs Inc (PRLB) reported $533.1M in total revenue for fiscal year 2025. This represents a 6.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

Proto Labs Inc (PRLB) revenue grew by 6.4% year-over-year, from $500.9M to $533.1M in fiscal year 2025.

Yes, Proto Labs Inc (PRLB) reported a net income of $21.2M in fiscal year 2025, with a net profit margin of 4.0%.

Proto Labs Inc (PRLB) reported diluted earnings per share of $0.88 for fiscal year 2025. This represents a 33.3% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Proto Labs Inc (PRLB) had EBITDA of $58.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

Proto Labs Inc (PRLB) had a gross margin of 44.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

Proto Labs Inc (PRLB) had an operating margin of 4.7% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

Proto Labs Inc (PRLB) had a net profit margin of 4.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Proto Labs Inc (PRLB) has a return on equity of 3.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

Proto Labs Inc (PRLB) generated $59.7M in free cash flow during fiscal year 2025. This represents a -13.1% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

Proto Labs Inc (PRLB) generated $74.5M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Proto Labs Inc (PRLB) had $763.4M in total assets as of fiscal year 2025, including both current and long-term assets.

Proto Labs Inc (PRLB) invested $14.8M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Proto Labs Inc (PRLB) invested $42.8M in research and development during fiscal year 2025.

Yes, Proto Labs Inc (PRLB) spent $43.0M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

Proto Labs Inc (PRLB) had 24M shares outstanding as of fiscal year 2025.

Proto Labs Inc (PRLB) had a current ratio of 3.49 as of fiscal year 2025, which is generally considered healthy.

Proto Labs Inc (PRLB) had a debt-to-equity ratio of 0.13 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Proto Labs Inc (PRLB) had a return on assets of 2.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Proto Labs Inc (PRLB) has an Altman Z-Score of 10.72, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

Proto Labs Inc (PRLB) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Proto Labs Inc (PRLB) has an earnings quality ratio of 3.51x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Proto Labs Inc (PRLB) scores 52 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.

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