Proto Labs, Inc.
- Open
- 79.78
- Day high
- 79.78
- Day low
- 77.05
- Prev close
- 78.59
- Volume
- 21K
- Mkt cap
- $1.9B
- P/E (TTM)
- 62.6
- EPS (TTM)
- $1.27
- P/B
- 2.7
- P/S
- 3.4
- Yield
- —
- Per share
- —
Proto Labs, Inc. (PRLB) is a Industrials company listed on NYSE. The stock is up 60% over the past year. Drillr has 1 published research article covering PRLB.
Proto Labs, Inc. (PRLB) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 3 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
PRLB earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Jul 31, 2026 | $0.53 | $0.60 | +13.4% | $149M | +3.2% |
| May 1, 2026 | $0.40 | $0.54 | +35.3% | $139M | +3.0% |
| Feb 6, 2026 | $0.35 | $0.44 | +25.7% | $136M | +1.8% |
| Oct 31, 2025 | $0.39 | $0.47 | +20.2% | $135M | +5.0% |
| Jul 31, 2025 | $0.33 | $0.41 | +24.2% | $135M | +2.6% |
| May 2, 2025 | $0.28 | $0.33 | +16.6% | $126M | -0.4% |
| Feb 7, 2025 | $0.33 | $0.38 | +16.9% | $122M | -2.3% |
| Nov 1, 2024 | $0.34 | $0.47 | +39.5% | $126M | +3.8% |
| Aug 2, 2024 | $0.34 | $0.38 | +11.4% | $126M | -0.5% |
| May 3, 2024 | $0.30 | $0.40 | +33.3% | $128M | +2.4% |
| Feb 9, 2024 | $0.30 | $0.46 | +54.4% | $125M | +2.2% |
| Nov 3, 2023 | $0.30 | $0.51 | +70.0% | $131M | +6.7% |
PRLB insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 4, 2026 | WEHRWEIN SVENdirector | Sell | 1,500 | $76.91 |
| Jun 4, 2026 | WEHRWEIN SVENdirector | Sell | 500 | $78.38 |
| May 27, 2026 | Krishna Sureshdirector, officer: President and CEO | Tax | 1,247 | $71.36 |
| May 22, 2026 | Parlange Bernardoofficer: Chief Commercial Officer | Grant | 3,789 | $71.13 |
| May 22, 2026 | Schumacher Danielofficer: Chief Financial Officer | Tax | 255 | $71.13 |
| May 22, 2026 | Parlange Bernardoofficer: Chief Commercial Officer | Grant | 2,109 | — |
| May 21, 2026 | Black Archie C.director | Grant | 2,210 | — |
| May 21, 2026 | WEHRWEIN SVENdirector | Grant | 2,210 | — |
| May 21, 2026 | Gawlick Rainerdirector | Grant | 2,210 | — |
| May 21, 2026 | Chand Sujeetdirector | Grant | 2,210 | — |
| May 21, 2026 | Chin Moonhiedirector | Grant | 2,210 | — |
| May 21, 2026 | KRANTZ DONALD Gdirector | Grant | 2,210 | — |
| May 13, 2026 | Kenison Michael R.officer: Chief Operations Officer | Option | 4,042 | $59.40 |
| May 13, 2026 | Kenison Michael R.officer: Chief Operations Officer | Sell | 4,198 | $68.70 |
| May 13, 2026 | Kenison Michael R.officer: Chief Operations Officer | Sell | 7,433 | $70.26 |
Source: PRLB SEC Form 4 filings, latest Jun 4, 2026. For informational purposes only — not investment advice.
See the full PRLB insider & 13F page →PRLB research & analysis
Proto Labs, Inc. company profile
Overview
Proto Labs, Inc. (NYSE:PRLB) is a digital manufacturing company founded in 1999 and headquartered in Maple Plain, Minnesota. The company went public in February 2012 and operates as an e-commerce-driven manufacturer specializing in custom prototypes and on-demand production parts. Proto Labs serves developers and engineers worldwide who use 3D computer-aided design software to design products across various industries. The company has evolved from primarily a prototyping service provider to a comprehensive digital manufacturer offering both prototyping and production capabilities through its factory operations and partner network.
Business
Proto Labs operates in the digital manufacturing industry, providing rapid manufacturing services for custom parts and prototypes. The company's core business revolves around transforming digital 3D designs into physical parts using automated manufacturing processes with quick turnaround times. The company offers four primary manufacturing services through its factory operations: 1. Injection Molding - Creates plastic parts by injecting molten plastic into custom-made molds. This service is used for both prototype development and low-to-medium volume production runs. Injection molding typically represents the largest portion of Proto Labs' factory revenue. 2. CNC Machining - Computer Numerical Control machining uses automated cutting tools to precisely remove material from blocks of metal, plastic, or other materials to create custom parts. This service has shown consistent growth and represents a significant portion of revenues. 3. 3D Printing - Offers various additive manufacturing technologies including stereolithography, selective laser sintering, direct metal laser sintering, multi jet fusion, polyjet, and carbon DLS processes. These technologies build parts layer by layer from digital files, ideal for complex geometries and rapid prototyping. 4. Sheet Metal Fabrication - Provides custom sheet metal parts through cutting, bending, and forming processes, serving customers who need metal components with quick turnaround times. Additionally, Proto Labs operates the Protolabs Network (formerly Hubs), which connects customers with a global network of manufacturing partners. This marketplace model allows the company to offer expanded capabilities beyond its own factory operations, including services like casting, urethane molding, and specialized manufacturing processes. The Network revenue has grown significantly, representing approximately $100 million in annual revenue or roughly 20% of total company revenue. The company primarily serves product developers and engineers across industries including aerospace and defense, automotive, medical devices, consumer products, and electronics. Proto Labs positions itself as a bridge between prototyping and production, helping customers transition from initial product development through to low-and-medium volume manufacturing.
Competitive moat
Proto Labs' competitive moat is moderately strong but faces increasing challenges. The company's primary moat stems from its proprietary automated manufacturing systems and software that can rapidly analyze CAD files, generate quotes, and optimize manufacturing processes without human intervention. This automation enables the company's key differentiator: speed of delivery, often providing parts in days rather than weeks. The company has built significant barriers to entry through its substantial investments in manufacturing equipment, facilities, and proprietary software systems developed over more than two decades. The integration of design analysis software with manufacturing capabilities creates switching costs for customers who become familiar with Proto Labs' systems and processes. However, the moat faces several vulnerabilities. Technology democratization is lowering barriers to entry, with 3D printing and CNC machining becoming more accessible to smaller competitors. Large traditional manufacturers are investing in digital capabilities and faster turnaround times, potentially eroding Proto Labs' speed advantage. The rise of manufacturing marketplaces and networks creates alternative options for customers seeking quick-turn manufacturing. The company's scale advantages in certain manufacturing processes provide some protection, particularly in injection molding where tooling costs and setup requirements favor established players. The customer base of over 53,000 active customers provides valuable data and insights that help improve the automated quoting and manufacturing optimization systems. Competitive threats come from multiple directions: traditional manufacturers investing in digital capabilities, pure-play online manufacturing platforms, and the potential for customers to bring capabilities in-house as manufacturing technologies become more affordable. The network model, while expanding capabilities, also commoditizes some aspects of the business and reduces differentiation. The moat remains intact but requires continuous investment in technology and capabilities to maintain the speed and convenience advantages that justify premium pricing.
Risks & safety
Proto Labs demonstrates a strong financial safety profile with minimal solvency risk and conservative capital structure. **Cash and Debt Position:** - Strong balance sheet with $82.7 million in cash and short-term investments as of Q1 2025 - Virtually debt-free with debt-to-equity ratio of only 0.004 - Positive free cash flow generation of $68.7 million in 2024 - No immediate liquidity concerns **Valuation Metrics:** - Current P/E ratio of 58.7x appears elevated relative to modest growth profile - EV/EBITDA of 42.3x suggests high valuation expectations - Price-to-book ratio of 1.15x is reasonable given asset base - Graham number suggests potential overvaluation at current levels **Other Considerations:** - Current ratio of 3.13x indicates strong short-term liquidity - Consistent profitability and cash generation provide operational stability - Low capital intensity relative to traditional manufacturing - Economic sensitivity creates earnings volatility risk but not solvency risk
Recent development
Over the past few years, Proto Labs has undergone significant strategic transformation, shifting from primarily a prototyping company to a comprehensive digital manufacturer serving customers across the entire product lifecycle. The most significant development has been the organizational restructuring completed in 2024, where the company separated its revenue generation functions from operational fulfillment, creating unified customer-facing teams and a global operations organization. The company has made substantial investments in expanding production capabilities, moving beyond its traditional prototyping focus to capture larger, more profitable production orders. This strategic shift recognizes that approximately two-thirds of revenue still comes from prototyping, while production represents about one-third but is growing faster. Management identified that only about 5% of customers currently use both prototyping and production services, representing a significant cross-selling opportunity. Network expansion has been a major growth driver, with the Protolabs Network (formerly Hubs) growing from $22.5 million in 2023 to over $100 million in 2024 revenue. This marketplace model allows Proto Labs to offer expanded manufacturing capabilities beyond its factory operations, though at lower margins. The company has undertaken operational optimization initiatives, including closing underperforming facilities in Europe, discontinuing certain services like direct metal laser sintering in European operations, and focusing manufacturing footprint optimization. Notably, 90% of American customer revenue is now fulfilled by U.S. factories, improving delivery times and reducing complexity. Technology and capability investments include enhanced sales enablement tools, streamlined production quoting processes, additional industry certifications, and refined manufacturing processes. The company has also launched significant marketing investments to build brand awareness as a production manufacturer rather than just a prototyping service provider. Recent leadership changes include the addition of key executives focused on technology and strategic growth, reflecting the company's evolution toward a more sophisticated digital manufacturing platform.
PRLB company profile · for informational purposes only — not investment advice.
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