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Lumibird S.A.

LBIRD.PA
51
Hardware, Equipment & Parts · Technology
Also trades as: 0FRI.L GBP 0.24 (-0.21%)
Price
€23.40
-0.40 (-1.68%)
Market Cap
€515.4M
Exchange
Euronext Paris
Winston Score
51
Winston is curious
Mixed quality — meaningful strengths and weaknesses.
Data as of Oct 6, 2026 · filings through Jun 30, 2026

§How the score breaks down

Quality
Weak
7/30
Growth
Good
11/20
Cash Flow
Strong
7/10
Stability
Strong
7/10
Valuation
Good
6/10
Ownership
Good
10/15
Dividends
Good
3/5

51 of 100 counted points = Winston Score 51.

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§Winston Score History

The full picture

Lumibird is a French company that makes lasers — devices that produce very precise, powerful beams of light. It sells these lasers to customers in two main areas: the medical field (eye surgery equipment and diagnostic tools) and defense and industrial markets (range finders, sensors, and scientific instruments). Lumibird is one of Europe's largest laser manufacturers and owns well-known brands like Quantel.

The company earns money by selling laser hardware and related equipment, with some recurring revenue from service contracts and spare parts. It operates mainly in Europe, North America, and Asia, generating roughly €200 million in annual revenue. Its competitive edge comes from deep technical expertise and proprietary laser technology that is difficult for newcomers to replicate. The key growth driver is rising demand for medical lasers, particularly in ophthalmology, but the main risk is its relatively small scale, which makes it vulnerable to larger competitors and supply chain disruptions in specialized optical components.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+7.4% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

+4.5% YoY

YoY Growth Rate

Slow EPS growth

R&D Spend

€23M/ year

→ Flat (+4% vs prior year)

10.0% of revenue

Below sector average (15%)

Steady R&D investment year-over-year

Insider Activity

59.8%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

~2 years

€58M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

€58M cash & investments at current burn rate

Growth context

Lumibird S.A. is growing revenue at 7% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Share count broadly stable

+0.1% over 4y

The share count has stayed roughly flat over this period — little dilution or buyback activity.

Diluted shares outstanding: 22.4M (2021) → 22.5M (2025)

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale
Gross Margin
0.0%
Thin — 0.0% gross margin
Profit after running costs
Operating Margin
8.1%
Modest — 8.1% operating margin
Return on the money invested
ROCE
7.0%
Weak — 7.0% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth
Sales YoY
+8.6%
Steady sales growth (+8.6% YoY)
Profit growth
EPS YoY
+31.3%
Earnings growing fast (+31.3% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is
EPS Consistency
4/8 quarters
Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash
Cash Conversion
123%
Turns 123% of profit into real cash
Spare cash per sale
FCF Margin
0.3%
Thin free cash flow (0.3%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns
Debt / Equity
0.73
Moderate — manageable debt (0.73)
Covers its interest
Interest Cover
9.15x
Comfortably covers interest (9.2x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit
P/E Ratio (TTM)
37.1x
Pricey — P/E 37.1

P/E over 35. The market is pricing in heavy, sustained growth.

Cheaper or dearer next year
P/E vs Forward
+20.7
GROWING
Earnings expected to grow meaningfully — cheaper on forward P/E (37.1 → 16.4)

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Dividends

Dividend
Dividend Yield
5.83%
Healthy income — 5.83% yield

Generous yield. Worth checking whether the payout is sustainable.

Dividend record
Dividend Growth
N/A
no trend
Data not available

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