Glaukos Corporation
$113.64
+2.6%Glaukos Corporation, an ophthalmic medical technology and pharmaceutical company, focuses on the development of novel therapies for the treatment of glaucoma, corneal disorders, and retinal diseases. It offers iStent, iStent inject, iStent inject W micro-bypass stents that enhance aqueous humor outflow inserted in cataract surgery to treat mild-to-moderate open-angle glaucoma. The company's product pipeline includes iStent Infinite, a three stents product that is designed for use as a standalone procedure in patients with refractory glaucoma; and iDose TR, a targeted injectable implant based on its micro-scale device-platform that is designed to deliver therapeutic levels of medication. The company markets its products through direct sales organization, as well as through distributors in the United States and internationally. Glaukos Corporation was incorporated in 1998 and is headquartered in San Clemente, California.
At a Glance
Live SnapshotIntrinsic Alpha Methodology
Thesis Lenses
Signal
Medium confidenceValuation multiple is compressed (P/E -34.6).
Valuation inputs: P/E -34.6, earnings yield N/A, momentum +2.6%.
If multiples stay elevated while momentum fades, downside repricing risk rises.
Driver
High confidenceReturn profile is soft (ROE -28.6%, ROIC -10.6%).
Profitability stack: net margin -37.0%, ROE -28.6%, ROIC -10.6%.
Quality deterioration often appears in margins before it shows up in headline EPS.
Risk
High confidenceRisk profile is balanced but has notable pressure points to monitor.
Risk factors: liabilities/assets +26.6%, momentum +2.6%, net margin -37.0%.
Higher leverage with weak momentum and thin margins can amplify drawdown severity.
Glaukos Corporation Market vs Earnings Trajectory
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Glaukos Corporation Fair Value Envelope
Glaukos Corporation Profit Bridge
Profitability Analysis
Gross Margin
Exceptional pricing power and cost management. The company retains over half of revenue after direct costs.
Operating Margin
Operating losses indicate the core business is unprofitable. Requires restructuring or revenue growth.
Net Profit Margin
Net losses indicate the company is burning cash. Sustainability depends on path to profitability.
Profitability Insight
Margin squeeze alert: Healthy gross margins but weak operating margins suggest excessive operating expenses. Cost optimization could unlock significant value.
Glaukos Corporation Cash Conversion Engine
Cash Flow Quality Analysis
FCF Conversion Rate
Weak cash conversion. Significant portion of earnings not converting to cash—review working capital trends and capital intensity.
CapEx Intensity
Asset-light business model. Low capital requirements leave more cash available for shareholders and growth investments.
FCF Growth Trend
Strong FCF growth demonstrates improving cash generation and business momentum. Positive signal for sustainability.
Working Capital Impact
Significant working capital drain. Growth may be consuming cash through inventory buildup or receivables extension—monitor closely.
Cash Flow Quality Insight
Working capital strain: Significant cash tied up in operations. Monitor receivables collection, inventory turns, and payment terms to optimize cash conversion cycle.
Glaukos Corporation Funding & Solvency Profile
Financial Health Analysis
Current Ratio
Excellent liquidity position. The company can easily cover its short-term obligations with substantial cushion.
Debt-to-Equity Ratio
Conservative capital structure. The company relies primarily on equity financing, indicating low financial risk.
Working Capital
Strong working capital position provides significant operational flexibility and financial cushion.
Asset Composition
Balanced asset mix between current and non-current assets, typical of many stable businesses.
Financial Health Insight
Strong financial foundation: Excellent liquidity combined with conservative leverage suggests the company is well-positioned to weather economic uncertainties and fund growth opportunities.
Glaukos Corporation Street Expectations Map
Wall Street analysts project that GKOS stock may rise significantly over the coming 12 months. The consensus 1-year price target stands at 149.00, with estimates ranging from a low of 135.00 to a high of 170.00.
The consensus 1-year price target stands at 149.00, with estimates ranging from a low of 135.00 to a high of 170.00.
Analyst Consensus Analysis
Upside Potential
Substantial upside potential. Analysts see significant value gap, suggesting the stock may be materially undervalued at current levels.
Analyst Agreement
Good consensus alignment. Moderate target spread reflects general agreement on value drivers with some variance in assumptions.
Analyst Conviction
Strong buy conviction: High upside with tight consensus suggests compelling investment opportunity backed by analyst confidence.
Market Sentiment Insight
Rare opportunity: Exceptional upside potential with strong analyst consensus creates a compelling setup. The combination of significant price target premium and tight agreement suggests high-conviction undervaluation that may attract institutional capital.
Glaukos Corporation Insider Positioning
During the last 12 months, insiders have sold $31.74M worth of GKOS shares, with no buying activity reported.
3 Months
0
0.00
47.0K
6.45M
-6.4M
-$6.45M
3-6 Months
0
0.00
202.4K
23.33M
-23.3M
-$23.33M
6-9 Months
0
0.00
21.9K
1.97M
-2.0M
-$1.97M
9-12 Months
0
0.00
0
0.00
+0
+$0
Top Buyers
No buying activity
Top Sellers
Burns Thomas William
Director, Officer: Chairman & Ceo
$21.50M
Gilliam Joseph E
Officer: President & Coo
$5.11M
Kliman Gilbert H
Director
$1.92M
Thurman Alex R.
Officer: Svp & Chief Financial Officer
$1.86M
Stapley Marc
Director
$481K
Insider Activity Analysis
Net Insider Sentiment
Strong bearish signal with $31.74M net selling. Heavy insider selling may indicate concerns about valuation or near-term prospects.
Buy/Sell Ratio
Very poor ratio. Heavy selling with minimal buying suggests insiders may be concerned about valuation or outlook.
Recent Trend (3 Months)
Heavy recent selling activity. Recent insider sales notably exceed purchases—may warrant investigation into company developments.
Insider Participation
5 insider sellers vs. 0 buyers. Widespread selling across multiple insiders may signal concerns.
Insider Activity Insight
Multiple red flags: Heavy selling, numerous sellers, and continued recent selling create a concerning pattern. Investigate fundamental drivers and consider whether company guidance or industry conditions have deteriorated.
No Dividend Yield Data
GKOS has not reported any dividend yield values in the available annual periods.
gkos Dividend History
Learning Layer
Related Guides
Build conviction on GKOS by pairing this stock hub with focused valuation guides.
Research Paths
Snapshot
Start with context, operating signals, and key market metrics.
Value Model
Stress test fair value across bear, base, and bull assumptions.
Statements
Validate revenue quality, margins, and balance sheet durability.
Earnings Call
Read management commentary and compare it with reported outcomes.
Dividends
Check payout sustainability and long-term distribution behavior.
Analyst Expectations
Review consensus spread and where estimate risk is concentrated.