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Proto Labs, Inc (PRLB) Fair Value & Analysis

Industrials · US · Market cap $1.9B

PL Proto Labs, Inc logo Proto Labs, Inc PRLB · US
Price$92.32
Fair Value$26.36
Upside-71.5%
Quality73/100
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Healthy Growth
Thin margins · 4.7% net margin
Low debt · generates free cash flow
Mixed vs. peers (7/14)
Narrow moat 43/100
Evidence: High Range $19.76 – $32.93 Share as image

Fair value as of: Aug 13, 2026

From 26 valuation models · updated yesterday

Fair value updated Aug 13, 2026, revised from $18.75 to $26.36 (+40.6%) since Jul 18, 2026. Share price +19.9% over the past month.

A solid business, but screening 71% overvalued on our models.

What matters now

  • A high-quality business (quality 73/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
  • The price sits above even our optimistic bull case ($32.93). The favourable scenario is already priced in.
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Price vs Fair Value (5 years)

$96.86 $22.09 Fair Value $26.36 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range $22.09 – $96.86 · fair‑value band $19.76 – $32.93 · the $92.32 price screens above the $26.36 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Proto Labs, Inc (PRLB) currently trades at $92.32, while our model-based Fair Value estimate is $26.36, implying the stock looks roughly 71.5% overvalued today. The Quality Score stands at 73/100 (solid quality), in the Industrials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Proto Labs, Inc generated revenue of $546M at a net margin of 4.7%. Revenue grew 10.4% year over year. It earns a return on equity of 3.8%. The balance sheet holds a net cash position of $106M. Fundamentals as of Aug 13, 2026

Our scenario range runs from $19.76 (bear case) to $32.93 (bull case); at $92.32, 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 near its 52-week high and 140% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -59% fair-value upside, at -71%, PRLB screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted 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.

Note: the current price implies far more future growth than the conservative anchors of our models allow (base growth is deliberately capped, we do not regard such extreme rates as sustainable). Our models are not designed for expectations this high; that is why the individual models scatter extremely ($2.06 to $42.51). Read the values as a conservative anchor, not as a price target.
Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Growth DCF $29.31 $41.47 $57.88 80
Residual Income $19.21 $18.13 $14.15 76
Rev-Margin DCF $20.13 $27.33 $36.13 74
All 26 models by family
DCF Models
FCF DCF $29.37 $42.51 $61.04 38
Owner Earnings $21.32 $30.17 $42.66 31
5Y Revenue Exit $20.13 $27.06 $35.68 39
5Y EBITDA Exit $27.71 $41.81 $58.54 41
5Y P/E Exit $21.95 $30.60 $39.76 38
10Y Revenue Exit $23.31 $30.41 $39.77 36
10Y EBITDA Exit $28.07 $39.97 $56.30 37
10Y P/E Exit $24.66 $32.71 $42.72 35
Earnings-Based
Graham-Dodd $6.07 $22.66 $30.64 54
Lynch FV $5.46 $7.79 $10.13 50
PEG = 1.0 $5.46 $7.79 $10.13 46
EPV $10.16 $10.92 $11.54 59
Dividend Discount
Gordon GGM $1.25 $2.26 $3.11 70
DDM Multi-Stage $1.25 $2.06 $2.41 61
Multiples
P/E Multiple $14.06 $18.75 $23.43 63
P/S Multiple $11.38 $15.18 $18.97 58
P/B Multiple $11.38 $15.18 $18.97 55
EV/EBIT $18.70 $23.38 $28.06 53
EV/EBITDA $29.25 $37.45 $45.64 54
EV/Revenue $14.68 $18.97 $23.27 43
Asset-Based
NCAV (Graham) $14.10 $18.89 $28.19 50
Growth DCF
Growth DCF $29.31 $41.47 $57.88 80
Rev-Margin DCF $20.13 $27.33 $36.13 74
Economic Profit
Residual Income $19.21 $18.13 $14.15 76
ROIC Compounder $10.16 $10.92 $11.54 72
Growth Earnings
Growth-Adj P/E $10.09 $14.42 $18.74 68

Widest divergence: DCF Models ($30.60) versus Dividend Discount ($2.06). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) $546M
Revenue growth (YoY) +10.4%
Net margin 4.7%
Return on equity 3.8%
Free cash flow $59.7M FY2025
P/E ratio 87.1
More key figures
Operating margin 8.1%
EPS (TTM) $1.06
EPS growth (YoY) +121%
Net cash $106M FY2025

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 73/100

Of which business quality 72 · Market factors (momentum, volatility) 76

Profitability 37
Margins and returns on capital today
Quality Growth 51
Are margins and returns improving?
Cashflow 71
Earnings quality: real cash, not paper profit
Fin. Strength 90
Balance sheet, leverage, solvency risk
Investment 99
Disciplined investing over empire-building
Low Volatility 33
Calm price path (market factor)
Momentum 90
Price trend over the last 3–12 months (market factor)
52W Momentum 100
Distance to the 52-week high (market factor)
Net Issuance 100
Buybacks instead of dilution

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.

About the company

Proto Labs, Inc., together with its subsidiaries, operates as a digital manufacturer of custom parts in the United States and Europe. It offers manufacturing services, such as molding, computer numerical control machining, 3D printing, and sheet metal to developers, engineers, and supply chain teams.

Full company description

Proto Labs, Inc., together with its subsidiaries, operates as a digital manufacturer of custom parts in the United States and Europe. It offers manufacturing services, such as molding, computer numerical control machining, 3D printing, and sheet metal to developers, engineers, and supply chain teams. The company was incorporated in 1999 and is headquartered in Maple Plain, Minnesota.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Proto Labs, Inc reported revenue of $533M in FY2025 versus $488M in FY2021, a compound +2.2%/yr. Reported net income was $21.2M in FY2025, compounding −10.7%/yr from FY2021.

Growth Quality 67/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
$533M
Latest YoY
+6.4%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+3.0%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+4.2%
Avg. growth/yr (16Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+16.9%
Revenue +2.2%/yr
FY21 $488M
FY22 $488M
FY23 $504M
FY24 $501M
FY25 $533M
Net income −10.7%/yr
FY21 $33.4M
FY22 −$103M
FY23 $17.2M
FY24 $16.6M
FY25 $21.2M
Character of growth · EPS growth decomposed (2014-2025) −8.7 % p.a.
Revenue per share +8.5 pp

of which total revenue +8.0 pp · buybacks/dilution +0.5 pp

EBIT margin −15.9 pp
Tax rate −0.4 pp
Residual (interest, one-offs) −1.0 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

PRLB screens 71% overvalued. Compare with Carpenter Technology Corporation →

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Cite: Fair Value Calculator (2026). "Proto Labs, Inc Fair Value". https://www.fairvalue-calculator.com/stock/PRLB

Earlier news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Metal Fabrication · 251 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.

Quality Score 73 · Top 25%
Fair Value upside −72% · Bottom 25%
Return on equity (TTM) 4% · Below median
Return on assets 3% · Above median
Net margin (TTM) 5% · Above median
Operating margin (TTM) 8% · Above median
Revenue growth 10% · Above median

Valuation Multiples vs Metal Fabrication median · lower = cheaper

P/E (TTM) 87.1× · Pricier than 75% of peers
P/B 2.88× · Pricier than median
P/S (TTM) 3.54× · Pricier than 75% of peers
P/FCF 32.4× · Pricier than 75% of peers
EV/EBITDA 27.4× · Pricier than 75% of peers
PEG 0.86× · Cheaper than 75% of peers

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 · sector 0
FUTURE 52 · sector 34
PAST 15 · sector 18
HEALTH 100 · sector 95
DIVIDEND 0 · sector 25

VALUE 0: the price sits above our fair-value range.

Insider activity: 46/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Metal Fabrication stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

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Frequently asked questions

Is Proto Labs, Inc (PRLB) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of $26.36 versus a price of $92.32, about −71% (overvalued).
What is the fair value of PRLB?
Our model-based fair value for Proto Labs, Inc is $26.36 (as of Aug 13, 2026), built from audited fundamentals. The current price is $92.32.
What is the quality score of PRLB?
Proto Labs, Inc has a Quality Score of 73/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Proto Labs, Inc (PRLB)?
Proto Labs, Inc reported trailing-twelve-month revenue of about $546M (latest available figure, as of Aug 13, 2026).
What is the net profit margin of PRLB?
The net profit margin of Proto Labs, Inc is about 4.7%, meaning it keeps roughly 4.7% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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