Kopin Corporation (KOPN) Stock

Kopin Corporation (KOPN) is a Technology stock trading at $4.88 (as of 2026-08-20), with a market capitalization of $907.99M. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Kopin Corporation designs, develops, manufactures, and sells display technologies and related components, including microdisplays and optical and electronic subassemblies, as well as head-mounted and other systems. Its products serve defense and enterprise/industrial/consumer applications and are sold in the United States and internationally.

Understand Kopin Corporation: how it makes money

Kopin makes microdisplays and related display technologies (including active-matrix LCDs, LCOS, and OLEDs) plus headset and subassembly systems, and it sells these components and systems to defense, enterprise, industrial, and consumer customers, generating revenue from product sales and non-product activities.

The profit model is driven by whether new defense and program wins translate into near-term product revenue, and then into follow-on production orders, as shown by the company emphasizing order and book-to-bill related operating metrics rather than recurring revenue metrics.

Revenue by segment (latest quarter)
Product	$0.0B
Non-Product	$0.0B

Business quality (Weak): Strong focus on order conversion signals, but the reported operating profitability is extremely weak in the latest period, and the revenue base shown here is very small.

Valuation: At 493× earnings, KOPN trades 861% above the Semiconductors average (51×). Note: one-time items can distort reported P/E.

Bull case

Order demand signal is positive: The Book-to-Bill Ratio is 2.8, which suggests new orders have exceeded associated revenue for the period the metric is referring to.
Defense programs generate measurable order follow-through: The operating KPI set includes defense-related contract and follow-on order value measures, implying the company tracks how initial program wins can lead to additional production orders.

Bear case

Very large operating losses: The latest period shows operating_margin_pct of -1455.3, indicating heavy operating-level losses.
Revenue scale appears limited in the latest quarter: The reported revenue_b is 0.0B, and the revenue breakdown inputs provided here are small, which increases the impact of fixed costs and development expenses on profitability.
Execution risk in turning awards into revenue: Because the key operating metrics focus on order conversion (including follow-on and program order values), delays or slower production ramp from contract wins could weigh on product revenue timing.

Valuation — source: SEC EDGAR (first-party)
Price	$4.88
Market Cap	$907.99M
Price / Book	13.12
Price / Sales	420.07
FCF Yield	-1.6%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$1.53M
Net Margin	170.3%
Revenue Growth (YoY)	46.5%
EPS Growth (YoY)	-103.0%
FCF Growth (YoY)	12.9%

Financial Health — source: SEC EDGAR
Altman Z-Score	7.33 (safe)

Valuation vs Sector & Industry
Sector P/E (Technology)	33.9
Industry P/E (Electronic Equipment)	39.4

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	BlackRock, Inc. ($27.20M)
Institutional Holders Tracked	10

Company
Sector	Technology
Industry	Electronic Equipment
CEO	Michael Murray
Employees	181
Country	US
IPO Date	1992-04-15

Related Companies (Business model: Fabless Semiconductors; 8 closest by market cap; US-domiciled)

Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.