Neophotonics's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Neophotonics (NPTN) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: Neophotonics vs Its Competitors
- TTM: Trailing 12-month revenue of 349M vs 53,124M combined for its competitors (0.7% combined share).
- Trending: Latest-quarter revenue run-rate is accelerating (+9.0% annualized vs trailing 12 months), vs decelerating (-17.1%) for its tracked peer group.
- Growth: Neophotonics generated 46.1% revenue growth year over year in Q2 2022, vs 12.9% for its competitors combined.
- Profitability: Its 9.8% net margin compares with 9.6% for the peer group.
- Peer revenue share: Neophotonics accounted for 0.9% of combined revenue among its tracked peer group, up from 0.7% a year earlier.
- Peer differentiation: Revenue per employee of $0.20M compares with $0.24M for the peer group (0.8x).
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
NPTN Sales vs. its Competitors, Q2 2022
Neophotonics reported revenue growth of 46.14 % year on year in Q2 2022, above its competitors' combined revenue growth of 12.91 %.
With a net margin of 9.79 %, Neophotonics achieved higher profitability than its competitors (9.57 %).
Neophotonics generated 0.86 % of the combined sales of its peer group, up from 0.66 % a year earlier.
API endpoints for this dataset
Neophotonics vs. its Competitors, Q2 2022
Revenue growth, year on year
Net margin
Revenue run-rate vs trailing 12 months
TTM net margin
TTM = trailing twelve months. Run-rate annualizes the latest quarter (×4) and compares it to TTM. In millions of $. High-Confidence Competitors are named as a competitor directly in Neophotonics reports; Similar-Size Competitors are the closest peers by market-cap rank within the same industry; Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC, all independent of the competitor list.
TTM revenue, latest-quarter run-rate and net income/margin benchmarked across Neophotonics and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| Neophotonics Corp | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| High-Confidence Competitors (9) | $12,345M | +12.3% · Accelerating |
| Similar Growth & Profitability (8) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across Neophotonics's competitor groups requires a Commercial License.
For context: the Semiconductors industry grew revenue 47.9% year over year, combined, vs 46.1% for Neophotonics. Neophotonics's share of combined industry revenue moved from 0.02% to 0.02%, a gain of 0.00 percentage points.
Neophotonics's Competitor Quality Breadth
Group definitions: see Methodology: Performance Group Definitions.
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Neophotonics Corp | No | Yes | Yes | No |
| Competitors combined (37) | ||||
| High-Confidence Competitors (12) | ||||
| Similar Growth & Profitability (8) | 87.50 % (7 of 8) | 100.00 % (8 of 8) | 100.00 % (8 of 8) | 0.00 % (0 of 8) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
NPTN Stock Performance relative to its Competitors
NPTN Stock Performance relative to High-Confidence Competitors
NPTN Stock Performance relative to Similar Growth & Profitability Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | Emcore Corporation | 282.9% | Outperformed |
| 2 | Maxlinear Inc | 282.9% | Outperformed |
| 3 | Ieh Corp | 282.9% | Outperformed |
| 4 | Westell Technologies Inc | 282.9% | Outperformed |
| 5 | Lumentum Holdings Inc | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Neophotonics's best-performing competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Neophotonics's Comment on Competition and Industry Peers
ability to provide leading edge technologies for high speed communications;
ability to design and manufacture high quality, reliable products, including customized solutions;
breadth of product solutions;
price to performance characteristics;
ability to quickly and consistently produce in high volume and high quality;
ability to meet customers’ specific requirements;
ability to meet customer lead time demands;
financial stability; and
depth of relationships with and proximity to key customers globally.
We believe we compete favorably with respect to these factors. We believe our principal competitors include:
Furukawa Co., Ltd., Fujitsu Optical Components Limited, NTT Electronics Corporation, Oclaro, Inc., Sumitomo, Finisar, Lumentum Holdings Inc. (formerly JDS Uniphase Corporation) and others in Coherent products;
Accelink Technologies Co., Ltd., Broadcom (formerly Avago), Finisar, InnoLight Technology Corporation, M/A-Com, Inc, Oclaro, Source Photonics, Inc., Sumitomo and others in Data center and Client side products;
Lumentum and NTT Electronics Corporation in switching; and
Lumentum, NTT Electronics Corporation, M/A-Com, Inc., Oclaro, Inc., Sumitomo and others in Network Products and Solutions.
Publicly Traded Peers of Neophotonics Corp
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
 Neophotonics Corp |
898.08 | 348.63 |
 Lumentum Holdings Inc |
65,907.70 | 3,703.00 |
 Te Connectivity plc |
64,506.54 | 19,885.00 |
 Fabrinet |
13,370.34 | 5,137.43 |
 Nova Ltd |
11,172.34 | 880.58 |
 Maxlinear Inc |
5,857.95 | 660.35 |
| SUBTOTAL | 203,990.67 | 54,374.59 |
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Sources: see Methodology: Peer & Competitor Identification, Sourcing.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Neophotonics Corp versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Neophotonics's Competitors Named by the Company
Competitive relationships identified from Neophotonics reports and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| Ipg Photonics Corp | Company report | 85% |
| Applied Optoelectronics Inc | Company report | 85% |
| Coherent | Company report | 85% |
| Broadcom Inc. | Company report | 85% |
| Lightwave Logic Inc | Company report | 85% |
| Palomino Laboratories Inc. | Company report | 85% |
| Infinera Corp | Company report | 85% |
| Semtech Corp | Company report | 85% |
| Mitsubishi Electric | Company report | 85% |
| Sumitomo Electric Industries | Company report | 85% |
| Broadcom Inc. | Company report | 85% |
| Acacia Communications | Company report | 85% |
| II-VI | Company report | 85% |
| Nistica | Company report | 85% |
| Fujitsu Optical Components | Company report | 85% |
| MKS Instruments | Company report | 85% |
| TRUMPF Group | Company report | 85% |
| Accelink | Company report | 85% |
| O-Net | Company report | 85% |
| Cisco | Company report | 85% |
| Furukawa Electric | Company report | 85% |
| Molex | Company report | 85% |
| ams AG | Company report | 85% |
| Fujitsu | Company report | 85% |
| Electro Scientific Industries | Company report | 85% |
| Emcore Corporation | Company report | 85% |
| Nlight Inc | Company report | 85% |
| Lightpath Technologies Inc | Company report | 85% |
| Rockley Photonics Holdings Limited | Company report | 85% |
| Optical Cable Corporation | Company report | 85% |
| Clearfield Inc | Company report | 85% |
| Harmonic Inc | Company report | 85% |
| Fabrinet | Company report | 85% |
| Corning Inc | Company report | 85% |
| Ciena Corp | Company report | 85% |
| Maxlinear Inc | Company report | 85% |
| Calix Inc | Company report | 85% |
| Adtran Holdings Inc | Company report | 85% |
Company report basis, confidence, active dates and source counts for Neophotonics's named competitors require a Commercial License.
Methodology: see Methodology: Peer & Competitor Identification, Sourcing.
Neophotonics's Business Segment Mix vs Peers
Revenue by operating segment or division, as named and reported by each company. Segment names are the filer's own and are not standardized across companies. Do not assume a same-named or similarly-named segment is defined identically between two companies. Shares are of each company's own total revenue and are not required to sum to 100% (intersegment revenue, unallocated items).| Company | Largest Segment |
|---|---|
| Lumentum Holdings Inc | Components 59.73 % |
| Te Connectivity plc | Transportation Solutions 51.05 % |
| Fabrinet | Reportable 100.00 % |
| Maxlinear Inc | Reportable 100.00 % |
| Plexus Corp | Asia Pacific 56.05 % |
Source: operating segment revenue as reported in each company's reports (10-K/10-Q), via the CSIMarket API, leaf-level reportable segments only (parent roll-up segments are excluded where sub-segments are separately disclosed).
Neophotonics's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| Neophotonics Corp | 898 | 195,528 | -3,697 |
| Lumentum Holdings Inc | 65,908 | 269,172 | 84,168 |
| Te Connectivity plc | 64,507 | 191,202 | 31,279 |
| Fabrinet | 13,370 | 238,717 | 22,332 |
| Nova Ltd | 11,172 | 1,291,169 | 380,092 |
| Maxlinear Inc | 5,858 | 592,238 | -26,343 |
| PEERS TOTAL | 203,093 | 242,003 | 16,696 |
Neophotonics's Geographic Revenue Exposure vs Peers
Revenue by country/region as reported in each company's most recent report. Disclosure granularity varies by filer (some report by country, others by broad region) and is shown as disclosed.| Company | Largest Market |
|---|---|
| Neophotonics Corp | Other 69.11 % |
| Lumentum Holdings Inc | United States 23.55 % |
| Te Connectivity plc | Asia Pacific 36.91 % |
| Fabrinet | Asia Pacific 71.99 % |
| Applied Optoelectronics Inc | TW 55.37 % |
| Belden Inc | Americas 66.40 % |
Source: revenue geography as reported in each company's reports (10-K/10-Q), via the CSIMarket API. Percentages are of that company's own total consolidated revenue for its most recent reported period.
Neophotonics's Profitability & Cost Structure
Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the Semiconductors industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (180 companies). See the full Semiconductors industry profitability benchmarks.| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | 30.04 % | 30.90 % (avg) | -0.9 pp |
| Operating Margin | -1.99 % | industry median | +12.5 pp |
| EBITDA Margin | 4.87 % | 4.98 % (avg) | -0.1 pp |
| Capital Intensity (Capex / Revenue) | 3.22 % | 7.64 % (avg) | -4.4 pp |
Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.
Neophotonics's Valuation vs Competitive Position
Valuation multiples vs the Semiconductors industry average (180 companies, excluding loss-making/negative-equity outliers), alongside returns on capital for context on whether a premium or discount lines up with measurably stronger or weaker returns. See the full Semiconductors industry valuation benchmarks.| Metric | Company | Industry Average | Difference |
|---|---|---|---|
| P/E | - | 40.6x | - |
| EV / EBITDA | 48.4x | 21.5x | +26.9x |
| P/B | 5.6x | 5.9x | -0.3x |
| Return on Equity | -4.30 % | industry aggregate | -27.18 % |
| Return on Invested Capital | -1.82 % | -0.63 % (avg) | -1.19 % |
Source: CSIMarket API, trailing 12 months. A valuation premium or discount is not, by itself, a judgment of over- or under-valuation. Compare it against the return and growth context shown elsewhere on this page.
Neophotonics's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in company reports.| Metric | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 |
|---|---|---|---|---|---|---|---|---|
| Revenue Growth | 8.48 % | 10.86 % | 21.21 % | -28.81 % | 10.12 % | 10.62 % | 4.02 % | -21.79 % |
| Operating Margin | -6.25 % | 1.16 % | 0.73 % | -17.54 % | -12.93 % | -4.08 % | 0.96 % | -13.03 % |
| Return on Invested Capital | -5.47 % | 0.94 % | 0.66 % | -11.31 % | -10.43 % | -3.85 % | 0.86 % | -10.06 % |
| P/E | - | - | - | - | - | - | - | - |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
Neophotonics's Strategic Group Map
Neophotonics is shown in red; its closest peers by combined growth, margin and ROIC are labeled. See Methodology: Strategic Group Map for how this chart is built.
Neophotonics's trailing-12-month revenue growth of 17.6% and operating margin of -2.0% compares with an average of 17.4% growth and 0.1% margin across its 8 closest peers by combined growth, margin and ROIC -- Neophotonics sits above that peer average on growth and below it on margin.
Source: CSIMarket API, trailing 12 months. Extreme outlier values (from near-zero-revenue companies) are excluded from the plotted cloud but never from the highlighted company or its labeled peers.
Neophotonics's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Barriers to Entry | Lower than typical for the industry | Capital intensity (capex / revenue) of 3.22 % vs industry average 7.64 % (see Profitability & Cost Structure above) |
Note: see Methodology: Porter's Five Forces. Supplier power and buyer power are covered on Neophotonics's dedicated Suppliers and Customers pages, not here.
Neophotonics's Industry Attractiveness & Competitive Strength
See Methodology: GE/McKinsey Matrix for how the two axes are built.
Neophotonics falls in the Low attractiveness / High strength cell: Selective.
Source: CSIMarket API, trailing 12 months. Each axis score is a simple 1(low)/2(medium)/3(high) average across its three inputs -- a transparent, disclosed simplification, not a validated academic scoring model.
Neophotonics's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
- Operating margin 12.5 points above the industry median.
- Latest-quarter revenue run-rate is accelerating (+9.0% annualized vs trailing 12 months).
Weaknesses
- Return on equity 27.2 points below the industry aggregate.
Opportunities
No rule matched.
Threats
- Tracked peer group's revenue run-rate is broadly decelerating (-17.1% annualized).
Methodology: see Methodology: SWOT Analysis.
Neophotonics's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| Neophotonics Corp | 0.76 | 2.38 | 0.28 |
| Lumentum Holdings Inc | 0.71 | 1.55 | 0.72 |
| Te Connectivity plc | 0.27 | 1.78 | 0.43 |
| Fabrinet | 0.27 | 2.33 | 0.01 |
| Nova Ltd | 0.96 | 6.28 | 0.56 |
| Maxlinear Inc | 0.43 | 1.75 | 0.28 |
Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
Neophotonics's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| Neophotonics Corp | Q2 2022 | +46.1 % | - |
| Lumentum Holdings Inc | Q3 2026 | +145.9 % | +3,733.0 % |
| Te Connectivity plc | Q3 2026 | +11.9 % | +35.7 % |
| Fabrinet | Q3 2026 | +50.7 % | +7.9 % |
| Nova Ltd | Q4 2025 | +31.0 % | +41.1 % |
| Maxlinear Inc | Q3 2026 | +73.2 % | - |
| PEERS TOTAL | +23.3 % | +104.3 % |
Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Neophotonics's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| Neophotonics Corp | Q2 2022 | +12.3 % | -11.1 % |
| Lumentum Holdings Inc | Q3 2026 | +86.3 % | +201.6 % |
| Te Connectivity plc | Q3 2026 | +10.9 % | +7.0 % |
| Fabrinet | Q3 2026 | +50.9 % | +249.8 % |
| Nova Ltd | Q4 2025 | +31.6 % | +60.9 % |
| Maxlinear Inc | Q3 2026 | +66.6 % | +43.1 % |
Neophotonics's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Neophotonics Corp | - | - | - |
| Lumentum Holdings Inc | 17.93% | 25.41% | 34.76% |
| Te Connectivity plc | 12.51% | 15.11% | 24.53% |
| Fabrinet | 12.81% | 19.79% | 20.32% |
| Nova Ltd | 10.98% | 11.74% | 19.66% |
| Maxlinear Inc | - | - | - |
ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
Neophotonics's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Neophotonics Corp | - | 2.58 |
| Lumentum Holdings Inc | 65.39 | 17.80 |
| Te Connectivity plc | 19.87 | 3.24 |
| Fabrinet | 27.83 | 2.60 |
| Nova Ltd | 42.79 | 12.69 |
| Maxlinear Inc | - | 8.87 |
| PEERS AVERAGE | 54.83 | 3.75 |
P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.