Proto Labs, Inc. (PRLB) Stock

Proto Labs, Inc. (PRLB) is a Materials stock trading at $78.67 (as of 2026-08-20), with a market capitalization of $1.88B and a trailing P/E of 57.7. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Proto Labs, Inc., together with its subsidiaries, operates as an e-commerce driven digital manufacturer of custom prototypes and on-demand production parts in the worldwide. The company offers injection molding; computer numerical control machining; three-dimensional (3D) printing, which include stereolithography, selective laser sintering, direct metal laser sintering, multi jet fusion, polyjet, and carbon DLS processes; and sheet metal fabrication products, including quick-turn and e-commerce-enabled custom sheet metal parts. It serves developers and engineers, who use 3D computer-aided design software to design products across a range of end markets. The company was incorporated in 1999 and is headquartered in Maple Plain, Minnesota.

Understand Proto Labs, Inc.: how it makes money

Proto Labs makes custom prototypes and on-demand production parts through an e-commerce digital manufacturing platform, using injection molding, CNC machining, 3D printing, and sheet metal fabrication, then fulfills orders through its digital factories and its manufacturing network.

The profit engine is connecting digital customer demand to on-demand manufacturing capacity, with revenue routed through Proto Labs own digital factories (and, in smaller amounts, the Protolabs and partner networks).

Revenue by segment (latest quarter)
Digital Factories$0.1B

Business quality (Mixed): Good clarity on what drives revenue (digital factories vs networks) and on leading usage/activity metrics (customer contacts, unique product developers), but the provided dataset does not include broader operating measures like utilization, throughput, or order volumes.

Valuation: At 76× earnings, PRLB trades 216% above the Construction Materials average (24×). Note: one-time items can distort reported P/E.

Bull case

  • Broad manufacturing methods under one digital ordering model: The company offers injection molding, CNC machining, 3D printing (multiple process types), and sheet metal fabrication for developers and engineers.
  • Significant contribution from digital factories: Revenue fulfilled through digital factories is 0.11B versus total revenue of about 0.1B for the quarter, indicating the company plays a large role in fulfillment.
  • Attractive current profitability snapshot: Gross margin is 45.6% and operating margin is 7.1% for the quarter (financials period 2026-03-31).

Bear case

  • Channel mix matters: Revenue through networks exists (for example, 0.03B through the Protolabs network and 0.02B through a digital network of manufacturing partners), so shifts in fulfillment mix could affect results.
  • Geographic concentration in the provided mix: Americas revenue is 0.1B, while Europe revenue is 0.02B in the provided quarter mix items.
  • Business performance may be sensitive to ongoing customer engagement: Customer contacts served and unique product developers served are sizable but finite engagement indicators (21,252 contacts and 23,080 unique product developers), so sustaining that level is important.
Valuation — source: SEC EDGAR (first-party)
Price$78.67
Market Cap$1.88B
P/E Ratio57.7
EV / EBITDA24.2
Price / Book2.72
Price / Sales3.34
FCF Yield5.4%
DCF Value (model)$7.56
DCF Upside vs Price-90.4%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$533.13M
Net Margin4.0%
Revenue Growth (YoY)6.4%
EPS Growth (YoY)34.8%
FCF Growth (YoY)-13.1%
Financial Health — source: SEC EDGAR
Altman Z-Score14.05 (safe)
Valuation vs Sector & Industry
Stock P/E57.7
Sector P/E (Materials)25.1
Industry P/E (Construction Materials)22.6
vs Sector130.3%
vs Industry155.9%
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderBlackRock, Inc. ($209.71M)
Institutional Holders Tracked10
Company
SectorMaterials
IndustryConstruction Materials
CEOSuresh Krishna
Employees2,357
CountryUS
IPO Date2012-02-24

Related Companies (Business model: Industrials / Capital Goods (Heavy Machinery + Diversified Industrials); 8 closest by market cap; US-domiciled)

  • Valmont Industries, Inc. (VMI)
  • Arcosa, Inc. (ACA)
  • X-Energy, Inc. (XE)
  • Griffon Corporation (GFF)
  • NuScale Power Corporation (SMR)
  • Janus International Group, Inc. (JBI)
  • Terrestrial Energy Inc. (IMSR)
  • INNOVATE Corp. (VATE)
PRLB earnings history · PRLB institutional & insider holders · PRLB KPIs & operating metrics · PRLB financials · PRLB investor presentations & press releases · PRLB SEC filings · PRLB peers · Congress trades · Insider trades · Short interest · Stock screener

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.