Lumibird SA (LBIRD) AI Stock Analysis

• Market Cap: €474.89M
• Dividend Yield: N/A
• Average Volume (3M): 32.82K
• Price to Earnings (P/E): 34.0
• Beta (1Y): 0.55
• Revenue Growth: 5.66%
• EPS Growth: 66.79%
• Country: FR
• Employees: 1,027
• Sector: General
• Sector Strength: N/A
• Industry: Medical - Diagnostics & Research
• EPS (TTM): 0.40
• Shares Outstanding: 22,466,883
• 10 Day Avg. Volume: 22,637
• 30 Day Avg. Volume: 32,817
• PEG Ratio: 0.25
• Price to Book (P/B): 2.31
• Price to Sales (P/S): 2.11
• P/FCF Ratio: 68.05
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): 1.02
• Revenue Forecast (FY): €252.65M

• Rating: 54 Neutral
• Price Target: €22.00 ▲(3.29% Upside)
• Action: Downgraded Date: 03/13/26
• Date: Action: Downgraded 03/13/26

The score is driven primarily by a solid-but-not-strong financial profile: improved profitability and manageable leverage are tempered by volatile free cash flow and modest cash conversion. Technicals add caution with the stock trading below key moving averages and weak momentum. Valuation further caps the score due to a relatively high P/E and no dividend support.

Positive Factors

Diversified end-markets & strategic partnerships

Lumibird's exposure across defense, medical and industrial end markets and explicit strategic partnerships provide durable demand channels and access to large contracts. This diversification and partner-backed access reduce single-market cyclicality and support repeatable revenue streams.

Improved profitability in 2025

A clear margin inflection in 2025 — higher operating and net margins — suggests structural improvements (pricing, product mix, or cost control). If sustained, this supports durable earnings power and the ability to fund R&D and service investments without relying solely on revenue growth.

Manageable leverage and expanding equity base

Moderate debt levels and growing equity give the company financial flexibility for capex, R&D and selective M&A. An expanded asset base and improving ROE in 2025 support scale-up potential while keeping balance-sheet risk at a manageable level versus peers.

Negative Factors

Volatile free cash flow and weak cash conversion

Inconsistent operating and free cash flow — with prior negative FCF years and only ~30% conversion in 2025 — suggests working-capital swings or capex intensity. This reduces resilience, constrains reinvestment or debt reduction, and limits the durability of reported profits.

Decelerating revenue growth recently

Top-line growth has slowed to low-single-digit rates in 2024–2025 after earlier stronger expansion. Slower organic growth constrains leverage benefits from scale, limits margin expansion opportunities and increases reliance on product innovation or M&A to drive medium-term growth.

Margin volatility and data-quality note

Uneven margins historically and a flagged gross-profit reporting anomaly reduce confidence in underlying margin sustainability. This complicates forecasting and undermines the reliability of recent margin gains as a foundation for long-term profitability assumptions.

Lumibird SA Business Overview & Revenue Model

Company Description

Lumibird SA designs, manufactures, and sells various lasers for the scientific, industrial, and medical applications worldwide. It operates in two divisions, Photonics and Medical. The Photonics division offers solid-state lasers, high power laser diodes, fiber lasers, fiber amplifiers and components, photonics solutions for time-of-flight lidar and range-finding, and doppler lidar systems for wind measurement. Its products are used in various applications, such as industrial and scientific, defense and space, and lidar sensors. The Medical division provides medical and ophthalmological solutions from diagnosis to laser treatment. The company was founded in 1970 and is headquartered in Lannion, France.

How the Company Makes Money

Lumibird generates revenue primarily through the sale of its laser systems and components to various industries. The company has established key revenue streams from both product sales and ongoing service contracts for maintenance and support. Additionally, Lumibird benefits from strategic partnerships with major players in the defense and healthcare sectors, which provide access to larger contracts and collaborative projects. Their focus on innovation and R&D also leads to the development of new products, contributing to long-term revenue growth.

Lumibird SA Financial Statement Overview

Summary

Decent fundamentals with a notable profitability improvement in 2025 (higher net and operating margins) and manageable-but-moderate leverage (debt-to-equity ~0.71). Offsetting this, cash flow quality is weaker: free cash flow has been volatile with prior negative years and only modest conversion versus net income in 2025 (~30%), reducing confidence in durability.

Income Statement

Revenue has grown steadily over the period (strong growth in 2020–2022, then low-single-digit growth in 2024–2025), indicating a more mature/normalizing growth profile recently. Profitability improved meaningfully in 2025 (net margin ~6.2% vs ~2.7% in 2024 and ~3.4% in 2023), and operating margin also stepped up, which is a positive inflection. However, margins have been somewhat volatile across years and 2025 gross profit is reported as zero (suggesting a data quality/statement classification issue), which reduces confidence in the quality of the margin read-through.

Balance Sheet

Leverage looks manageable but not light: debt-to-equity has generally sat around ~0.54–0.81, ending 2025 at ~0.71, which implies moderate balance-sheet risk. Equity has grown over time and the asset base has expanded, supporting scale. Returns on equity are positive but uneven—improving in 2025 (~6.8%) versus 2024 (~2.9%), still not consistently strong enough to indicate high-quality compounding given the leverage level.

Cash Flow

Cash generation is mixed. Operating cash flow is positive each year but inconsistent (very weak in 2022, then recovery in 2023–2025). Free cash flow has been volatile, including materially negative years (2022 and 2023), before turning positive again (2024–2025). Free cash flow remains modest relative to net income in the latest year (~30% in 2025), and cash conversion from operations versus reported profitability has not been consistently strong—together suggesting working-capital swings and/or capex intensity that can pressure cash generation.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	225.60M	210.06M	206.55M	194.29M	162.47M
Gross Profit	0.00	16.06M	128.11M	15.36M	18.49M
EBITDA	25.70M	31.03M	27.31M	32.09M	31.81M
Net Income	14.00M	5.70M	7.13M	11.35M	13.86M
Balance Sheet
Total Assets	428.90M	429.80M	405.25M	372.04M	347.62M
Cash, Cash Equivalents and Short-Term Investments	61.60M	71.14M	56.20M	61.68M	97.13M
Total Debt	146.20M	161.06M	145.08M	114.18M	112.03M
Total Liabilities	222.60M	231.79M	211.95M	178.61M	166.29M
Stockholders Equity	206.30M	198.01M	193.30M	193.44M	181.33M
Cash Flow
Free Cash Flow	7.00M	11.41M	-4.89M	-28.02M	6.47M
Operating Cash Flow	23.10M	34.37M	20.67M	1.43M	26.57M
Investing Cash Flow	-15.90M	-22.84M	-46.15M	-29.34M	-28.63M
Financing Cash Flow	-10.70M	3.39M	21.69M	-7.89M	18.20M

Lumibird SA Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 21.30
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FR:LBIRD, the sentiment is Negative. The current price of 21.3 is below the 20-day moving average (MA) of 22.71, below the 50-day MA of 22.80, and above the 200-day MA of 20.02, indicating a neutral trend. The MACD of -0.19 indicates Positive momentum. The RSI at 42.80 is Neutral, neither overbought nor oversold. The STOCH value of 25.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for FR:LBIRD.

Lumibird SA Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ALDLT	66 Neutral	€284.20M	7.85	11.22%	2.10%	-1.89%	-3.39%
EXE	66 Neutral	€230.74M	4.09	―	3.00%	-10.58%	-47.82%
Sector *	55 Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
LBIRD	54 Neutral	€474.89M	34.02	5.51%	―	5.66%	66.79%