Impinj Inc (PI) Fair Value & Analysis
Technology · US · Market cap $4.3B · ISIN US4532041096
What is Impinj Inc really worth?
Impinj Inc
PI · US
Structural break: The valuation model sees a lasting decline in earnings power for this stock, the confidence band is broken. Treat the target with caution.
Below-average quality, and trading another 1,578% above our fair value of $10.44.
Strengths
Risks
Fair value as of: Sep 3, 2026
From 10 valuation models · updated yesterday
Share price +4.5% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price sits above even our optimistic bull case ($10.44). The favourable scenario is already priced in.
- Weak quality (40/100) and above fair value at the same time, the margin of safety is missing on both counts.
- The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
- A fairly wide model range ($4.56 to $10.44) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 3, 2026.
How to read this chart
60‑month range $40.11 – $241.91 · fair‑value band $4.56 – $10.44 · the $175.11 price screens above the $10.44 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 2 fiscal years are left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 3, 2026.
Analysis
Impinj Inc (PI) currently trades at $175.11, while our model-based Fair Value estimate is $10.44, implying the stock looks roughly 1,577.9% overvalued today. The Quality Score stands at 40/100 (below-average quality), in the Technology sector. Bull case: the DCF Models group reads highest at a median of $66.80 per share, and 0 of the 10 models we run sit above the $175.11 price. Bear case: the Multiples group reads lowest at $10.44, and 10 of the 10 models stay below the price. Evidence for this calculation is low.
Over the trailing twelve months, Impinj Inc generated revenue of $361M at a net margin of −7.7%. It earns a return on equity of −15.2%. Net debt stands at $279M. Fundamentals as of Sep 3, 2026
Our scenario range runs from $4.56 (bear case) to $10.44 (bull case); at $175.11, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 29% below its 52-week high and 100% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at −59% fair-value upside, at −94%, PI screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 10 models by family
Widest divergence: DCF Models ($66.80) versus Multiples ($10.44). Highest evidence: FCF DCF (74).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Sep 3, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 45 · Market factors (momentum, volatility) 40
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Impinj, Inc. operates a cloud connectivity platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. Its platform wirelessly connects items and delivers data about the connected items to business and consumer applications.
Full company description
Impinj, Inc. operates a cloud connectivity platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. Its platform wirelessly connects items and delivers data about the connected items to business and consumer applications. The company's platform comprises endpoint ICs, a miniature radios-on-a-chip that attaches to a host item and includes a number to identify the item. Its platform also consists of systems products that consists of reader ICs, readers, and gateways to wirelessly provide power to and communicate bidirectionally with endpoint ICs on host items, as well as to read, write, authenticate, and engage the endpoint ICs on those items; and software that enable its partners to solve enterprise business problems, such as package sortation, dock door ingress/egress and retail self-checkout and loss prevention. The company primarily serves retail, supply chain and logistics, automotive, aviation, banking, datacenters, food, healthcare, industrial and manufacturing, linen and uniform tracking, sports, and travel industries through original equipment and device manufacturers, tag service bureaus, systems integrators, value-added resellers, independent software vendors, and other solution partners. Impinj, Inc. was incorporated in 2000 and is headquartered in Seattle, Washington.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Impinj Inc reported revenue of $361M in FY2025 versus $190M in FY2021, a compound +17.4%/yr. Reported net income was −$10.8M in FY2025.
PI screens 1,578% overvalued. Compare with NVIDIA Corporation →
Peer Group
Semiconductors · 325 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Semiconductors median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Semiconductors stocks, each showing price versus our Fair Value estimate (as of Sep 3, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| NVIDIA Corporation NVDA | $227.98 | $98.98 | −57% |
| Taiwan Semiconductor Manufacturing Company TSM | $427.30 | $296.10 | −31% |
| Broadcom Inc AVGO | $371.54 | $118.27 | −68% |
| SK hynix Inc 000660 | 1,647,000 KRW | 1,481,291 KRW | −10% |
| Micron Technology, Inc MU | $932.86 | $148.38 | −84% |
| Advanced Micro Devices, Inc AMD | $476.67 | $55.02 | −88% |
| Intel Corporation INTC | $92.09 | $35.41 | −62% |
| Texas Instruments Incorporated TXN | $266.54 | $78.54 | −71% |
| QUALCOMM Incorporated QCOM | $164.78 | $147.20 | −11% |
| MediaTek Inc 2454 | 3,845 TWD | 1,559 TWD | −59% |
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