Glaukos (GKOS) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Glaukos

NYSE•Healthcare•Medical Devices

$177.47-2.88(-0.02%)Market closed

Market Cap

$9.63B

P/S

15.7x

P/B

14.1x

Glaukos Corporation, an ophthalmic pharmaceutical and medical technology company, develops therapies for the treatment of glaucoma, corneal disorders, and retinal diseases in the United States and internationally. It offers iStent and iStent inject W micro-bypass stents designed to treat mild-to-moderate open-angle glaucoma through the restoration of the natural physiologic outflow pathways for aqueous humor. The company also provides iStent infinite indicated for use in the treatment of patients with glaucoma uncontrolled by prior medical and surgical therapy; and iDose TR, an intracameral procedural pharmaceutical therapy indicated for the reduction of intraocular pressure in patients with open-angle glaucoma or ocular hypertension. In addition, the company develops iLink, a device used for the treatment of keratoconus without the removal of the epithelium; ILution, a platform of cream-based drug formulation applied to the outer surface of the eyelid for drop less transdermal delivery of pharmaceutically active compounds for the treatment of anterior segment eye disorders; and retinal XR platform to treat age-related macular degeneration, diabetic macular edema, retinal vein occlusion, and other posterior segment retinal diseases. It sells its products to ambulatory surgery centers, hospitals, and physician private practices through a direct sales organization, direct sales subsidiaries, and distributors. The company was formerly known as Transdx, Inc. Glaukos Corporation was incorporated in 1998 and is headquartered in Aliso Viejo, California.

How this company scores

AverageMetricSide Score: 49/100

Strongest: Growth (16/25); weakest: Cash & Earnings Quality (7/25).

Profitability11/25

Growth16/25

Balance Sheet & Red Flags15/25

Cash & Earnings Quality7/25

Strengths

Growing revenueLong cash runwayInterest easily coveredConsistent growth

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/S · 15.7x5y range 7.2x – 21.7x

Currently above its 20-quarter median.

P/B · 14.1x5y range 3.6x – 14.1x

Currently above its 20-quarter median.

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Red Flag

Free cash flow has been negative in 5 of the last 8 quarters — earnings are not translating to cash.

Price & Volume

Market Cap $9.63B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $612.84M
Q. Revenue: $185.61M
TTM EBITDA: $-151.39M
TTM Op. Income: $-193.36M
Q. Op. Income: $-17.27M
TTM Net Income: $-188.05M
Q. Net Income: $-18.38M
EPS: $-0.31
Shares Out.: $58.82M

$612.84M in TTM revenue grew 41.5% YoY, reaching $185.61M last quarter. TTM EBITDA of $-151.39M and TTM operating income of $-193.36M show growth is flowing through to the bottom line. However, net income is negative at $188.05M — growth is not yet reaching the bottom line. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 81.7%
EBITDA Margin: -4.5%
Op. Margin: -9.3%
Net Margin: -9.9%

Op. margin of -9.3% is up 9.0% YoY — cost efficiency is improving. Net margin at -9.9% and gross margin of 81.7% show how much of each revenue dollar survives to profit. Across the last 8 quarters, operating margin has risen for 2 consecutive quarters — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: N/A
P/S Ratio: 15.7x
P/B Ratio: 14.1x

P/S of 15.7x and P/B of 14.1x. P/S is high, meaning growth expectations are priced in.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $920.52M
Cash: $114.48M
Long-Term Debt: N/A
Book Value: $682.49M
D/E Ratio: N/A
Debt/EBITDA: N/A

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $14.82M
TTM Free Cash Flow: $-12.20M
FCF Margin: -2.0%
FCF / Net Income: 0.1

TTM FCF of $-12.20M on $14.82M in operating cash flow. The FCF / Net Income ratio of 0.1x means cash covers only part of net income — earnings quality needs attention. Across the last 8 quarters, free cash flow has risen for 3 consecutive quarters — an improving trend.