(GKOS) Glaukos - Overview
Stock: Stents, Implant, Topical Drug, Corneal Cross-Linking, Retinal Therapy
EPS (Earnings per Share)
Revenue
| Risk 5d forecast | |
|---|---|
| Volatility | 46.2% |
| Relative Tail Risk | -11.0% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | -0.39 |
| Alpha | -48.33 |
| Character TTM | |
|---|---|
| Beta | 1.373 |
| Beta Downside | 1.648 |
| Drawdowns 3y | |
|---|---|
| Max DD | 53.68% |
| CAGR/Max DD | 0.58 |
Description: GKOS Glaukos January 09, 2026
Glaukos Corp (NYSE:GKOS) is a California-based ophthalmic pharma and med-tech firm that designs and commercializes minimally invasive glaucoma surgery (MIGS) devices and drug delivery platforms for glaucoma, corneal and retinal disorders, serving both U.S. and international markets.
Its flagship products include the iStent and iStent inject micro-bypass stents for mild-to-moderate open-angle glaucoma, the iStent infinite for refractory cases, and the intracameral iDose TR pressure-lowering therapy. Adjacent offerings such as iAccess (precision blade), iPRIME (viscoelastic system), iLink (epithelium-preserving keratoconus device), ILution (drop-free transdermal cream), and the retinal XR platform target age-related macular degeneration, diabetic macular edema, and retinal vein occlusion.
Glaukos distributes its products through a mixed channel model-direct sales teams, subsidiaries, and third-party distributors-to ambulatory surgery centers, hospitals, and private practices. The company’s sales are heavily weighted toward the iStent line, which generated roughly 70 % of FY 2023 revenue of $140 million, reflecting the device’s strong adoption in the growing MIGS market (estimated CAGR ≈ 6.5 % through 2030). Medicare reimbursement rates for iStent procedures (~$1,200 per implant) have helped sustain volume despite broader macro-economic pressure on elective ophthalmic surgeries.
Key economic drivers include an aging U.S. population (the 65+ cohort is projected to reach 21 % of the population by 2030), rising prevalence of glaucoma (≈ 3 % of adults) and retinal diseases, and ongoing policy discussions around bundled payments for ophthalmic care, which could affect pricing dynamics for Glaukos’s device-centric portfolio.
For a deeper quantitative dive, the ValueRay platform offers a granular breakdown of GKOS’s valuation metrics.
Piotroski VR‑10 (Strict, 0-10) 1.5
| Net Income: -87.6m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.03 > 0.02 and ΔFCF/TA 6.01 > 1.0 |
| NWC/Revenue: 78.17% < 20% (prev 90.36%; Δ -12.19% < -1%) |
| CFO/TA -0.02 > 3% & CFO -21.1m > Net Income -87.6m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 5.20 > 1.5 & < 3 |
| Outstanding Shares: last quarter (57.1m) vs 12m ago 3.72% < -2% |
| Gross Margin: 76.87% > 18% (prev 0.77%; Δ 7610 % > 0.5%) |
| Asset Turnover: 48.79% > 50% (prev 38.89%; Δ 9.90% > 0%) |
| Interest Coverage Ratio: -7.97 > 6 (EBITDA TTM -38.9m / Interest Expense TTM 9.69m) |
Altman Z'' -4.37
| A: 0.37 (Total Current Assets 454.8m - Total Current Liabilities 87.5m) / Total Assets 999.4m |
| B: -0.80 (Retained Earnings -799.5m / Total Assets 999.4m) |
| C: -0.08 (EBIT TTM -77.2m / Avg Total Assets 963.0m) |
| D: -3.46 (Book Value of Equity -796.4m / Total Liabilities 229.8m) |
| Altman-Z'' Score: -4.37 = D |
Beneish M -2.64
| DSRI: 1.34 (Receivables 98.7m/56.4m, Revenue 469.8m/360.3m) |
| GMI: 1.00 (GM 76.87% / 76.61%) |
| AQI: 0.93 (AQ_t 0.36 / AQ_t-1 0.39) |
| SGI: 1.30 (Revenue 469.8m / 360.3m) |
| TATA: -0.07 (NI -87.6m - CFO -21.1m) / TA 999.4m) |
| Beneish M-Score: -2.64 (Cap -4..+1) = A |
What is the price of GKOS shares?
Over the past week, the price has changed by -5.75%, over one month by +0.21%, over three months by +37.57% and over the past year by -27.54%.
Is GKOS a buy, sell or hold?
- StrongBuy: 9
- Buy: 3
- Hold: 2
- Sell: 0
- StrongSell: 1
What are the forecasts/targets for the GKOS price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 132.7 | 17.9% |
| Analysts Target Price | 132.7 | 17.9% |
| ValueRay Target Price | 131.3 | 16.6% |
GKOS Fundamental Data Overview February 03, 2026
P/S = 14.594
P/B = 8.8868
P/EG = 1.64
Revenue TTM = 469.8m USD
EBIT TTM = -77.2m USD
EBITDA TTM = -38.9m USD
Long Term Debt = 104.3m USD (from capitalLeaseObligations, last quarter)
Short Term Debt = 2.47m USD (from shortTermDebt, last fiscal year)
Debt = 104.3m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 6.07m USD (from netDebt column, last quarter)
Enterprise Value = 6.69b USD (6.86b + Debt 104.3m - CCE 273.7m)
Interest Coverage Ratio = -7.97 (Ebit TTM -77.2m / Interest Expense TTM 9.69m)
EV/FCF = -242.2x (Enterprise Value 6.69b / FCF TTM -27.6m)
FCF Yield = -0.41% (FCF TTM -27.6m / Enterprise Value 6.69b)
FCF Margin = -5.88% (FCF TTM -27.6m / Revenue TTM 469.8m)
Net Margin = -18.65% (Net Income TTM -87.6m / Revenue TTM 469.8m)
Gross Margin = 76.87% ((Revenue TTM 469.8m - Cost of Revenue TTM 108.7m) / Revenue TTM)
Gross Margin QoQ = 78.41% (prev 78.33%)
Tobins Q-Ratio = 6.69 (Enterprise Value 6.69b / Total Assets 999.4m)
Interest Expense / Debt = 5.56% (Interest Expense 5.80m / Debt 104.3m)
Taxrate = 21.0% (US default 21%)
NOPAT = -61.0m (EBIT -77.2m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 5.20 (Total Current Assets 454.8m / Total Current Liabilities 87.5m)
Debt / Equity = 0.14 (Debt 104.3m / totalStockholderEquity, last quarter 769.5m)
Debt / EBITDA = -0.16 (negative EBITDA) (Net Debt 6.07m / EBITDA -38.9m)
Debt / FCF = -0.22 (negative FCF - burning cash) (Net Debt 6.07m / FCF TTM -27.6m)
Total Stockholder Equity = 766.4m (last 4 quarters mean from totalStockholderEquity)
RoA = -9.10% (Net Income -87.6m / Total Assets 999.4m)
RoE = -11.43% (Net Income TTM -87.6m / Total Stockholder Equity 766.4m)
RoCE = -8.87% (EBIT -77.2m / Capital Employed (Equity 766.4m + L.T.Debt 104.3m))
RoIC = -7.96% (negative operating profit) (NOPAT -61.0m / Invested Capital 766.4m)
WACC = 10.87% (E(6.86b)/V(6.96b) * Re(10.97%) + D(104.3m)/V(6.96b) * Rd(5.56%) * (1-Tc(0.21)))
Discount Rate = 10.97% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 8.07%
Fair Price DCF = unknown (Cash Flow -27.6m)
EPS Correlation: 72.27 | EPS CAGR: 16.34% | SUE: 1.92 | # QB: 2
Revenue Correlation: 94.81 | Revenue CAGR: 17.37% | SUE: 4.0 | # QB: 6
EPS next Quarter (2026-03-31): EPS=-0.19 | Chg30d=-0.008 | Revisions Net=+1 | Analysts=13
EPS next Year (2026-12-31): EPS=-0.32 | Chg30d=+0.007 | Revisions Net=+4 | Growth EPS=+60.8% | Growth Revenue=+22.6%