# Impinj Inc. (PI) fundamentals

Data as of 2026-09-08. NASDAQ, United States. Sector: Technology / Communications Equipment. Price $172.57, market value $5.3 billion.

## Valuation
- **P/E (trailing): n/a** (negative earnings). Impinj Inc. reported negative earnings over the last twelve months, so the P/E is not meaningful; use price-to-sales, EV/EBITDA and free-cash-flow yield instead.
- **Price / sales: 14.2×**. Each dollar of revenue is priced at 14.2×, a level that requires very high margins or very fast growth to justify.
- **Price / book: 22.8×**. The shares trade at 22.8× book value; most of the value is in earnings power and intangibles rather than the balance sheet.
- **Free-cash-flow yield: 1.2%** (5-yr avg -0.0%). Free cash flow equals 1.2% of the market value, above its five-year average of -0.0%, so the shares are cheaper on cash than they have usually been.

## Profitability
- **Gross margin: 52.9%**. Impinj Inc. keeps 52.9% of revenue after the direct cost of what it sells.
- **Operating margin: -1.8%**. Operating margin is negative: the business loses money before interest and tax.
- **Net margin: -3.0%**. The company reported a net loss over the last twelve months.
- **Return on equity: -5.2%**. Return on equity is negative because earnings are negative.
- **Return on invested capital: -1.2%**. Return on all capital, debt included, is -1.2%: close to or below the cost of capital, so growth may not create value.
- **Return on assets: -5.0%**. Each dollar of assets produces -5.0% of profit.

## Growth
- **Revenue growth (1 yr): -1.4%** (3-yr 11.9%/yr, 5-yr 21.0%/yr). Revenue fell 1.4% over the last year, against 21.0% a year compounded over five years: growth is slowing.
- **EPS growth (1 yr): -126.6%**. Earnings per share fell 126.6%, slower than revenue, so margins compressed.

## Financial health
- **Debt to equity: 1.34**. Debt is 1.34 times equity, a leveraged balance sheet that needs steady cash flow to service.
- **Net debt / EBITDA: 26.3×**. It would take 26.3 years of operating earnings to repay net borrowings, above the 3× level most lenders treat as comfortable.
- **Altman Z-score: 10.61**. A Z-score of 10.61 places the company in the safe zone for bankruptcy risk.
- **Piotroski F-score: 5/9**. 5 of 9 checks pass: mixed.

## Dividends
- **Dividend: none**. Impinj Inc. does not currently pay a dividend.

## Analyst view
- **Analyst consensus: buy** (9 analysts). 9 analysts cover Impinj Inc.; the consensus is buy, with an average price target of $180.89 (+5% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **Total return (1 yr): -8.3%** (YTD -0.8%, 3-mo 42.7%). The shares are down 8.3% over twelve months including dividends.
- **From 52-week high: -30.2%** (97.5% above the low). Trading 30% below its 52-week high, deep in a drawdown.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 56**. An RSI of 56 is neutral.
- **Beta (1 yr): 2.32** (volatility 73%). Beta of 2.32 against the S&P 500: the shares move much more than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=PI · Page: https://foliofundamentals.com/stocks/pi

Not investment advice.