How does the current valuation (P/E, EV/EBITDA) compare to peers in the imaging industry?

Short answer:

The press release you provided about poLight ASA’s Q2 2025 results does not contain any valuation multiples (price‑to‑earnings (P/E), enterprise‑value‑to‑EBITDA (EV/EBITDA) or similar) for poLight or for its imaging‑industry peers. Consequently, a direct, data‑driven comparison cannot be made from the information in the news item alone.

What the news tells us (and what it doesn’t)

Because none of the quantitative metrics needed for a valuation analysis are disclosed, we cannot calculate poLight’s P/E or EV/EBITDA from this release, nor can we juxtapose those numbers against other imaging‑technology companies.

How to obtain the necessary data

1. Retrieve poLight’s market data

   • Share price: Look up the latest price for “PLT” on the Oslo Stock Exchange (or via Bloomberg, Reuters, Yahoo! Finance).
     
   • Shares outstanding: Usually found in the latest quarterly report or on the exchange’s fact sheet.
     
   • Enterprise value (EV): EV = Market‑cap + Net debt (short‑term + long‑term debt – cash & cash equivalents). The balance‑sheet figures are in poLight’s most recent Form 20‑F / Q2 2025 filing.
     

2. Calculate the multiples

   • P/E: Current share price ÷ EPS (or Market‑cap ÷ Net‑income).
     
   • EV/EBITDA: Enterprise value ÷ EBITDA (EBITDA is disclosed in the income statement).
     

3. Identify comparable companies
   
   Typical peers in the “imaging” / “photonics / optical components” space include (but are not limited to):

   • Agilent Technologies (A) – analytical instrumentation & imaging.
     
   • Canon Inc. (7751.T) – optical imaging hardware.
     
   • Nikon Corp. (7731.T) – imaging optics.
     
   • Leica Microsystems (Leica Camera AG) – microscopy & imaging.
     
   • Thorlabs (private, but sometimes used for private‑company benchmarks).
     

For a more focused peer set, you could filter by:

- Primary revenue source = optical instrumentation / imaging sensors.

- Market‑cap range similar to poLight (roughly NOK 1‑5 bn as of mid‑2025).

- Geographic exposure (European‑based firms) if you want region‑specific comparables.

1. Collect peer multiples

   • Use financial databases (Bloomberg, S&P Capital IQ, Refinitiv, FactSet) to pull the latest P/E and EV/EBITDA for each peer.
     
   • Ensure you use the same accounting basis (e.g., GAAP vs. IFRS) and time horizon (trailing twelve months (TTM) or next‑12‑month forward estimates) for an apples‑to‑apples comparison.
     

2. Perform the comparison

   • Relative P/E: If poLight’s P/E is, say, 15× and the peer median is 20×, poLight would appear undervalued on a earnings basis.
     
   • Relative EV/EBITDA: If poLight’s EV/EBITDA is 8× versus a peer median of 10×, that also suggests a valuation discount.
     
   • Adjust for growth expectations, profit margins, and capital intensity. A lower multiple may be justified if poLight’s earnings growth or margins are materially weaker than peers.
     

Practical next steps for you

1. Pull the latest financial statements for poLight (Q2 2025 results, FY 2024 annual report).
   
2. Gather market data (share price, debt, cash).
   
3. Run the calculations for P/E and EV/EBITDA.
   
4. Create a peer set (see the list above or use a database filter).
   
5. Compare the multiples and annotate any qualitative differences (e.g., product mix, geographic exposure, strategic investments).
   

Quick sanity‑check example (illustrative only)

Assume (hypothetical numbers for illustration):

If these were the real figures, poLight would be trading at a significant discount relative to its peers, which could be interpreted as:

• The market pricing in higher risk (e.g., reliance on a few strategic contracts).
  
• Expectation of slower earnings growth compared with the faster‑growing imaging giants.
  
• Potential upside if poLight can convert its strategic investment momentum into higher revenue and margins.

However, do not rely on the above numbers—they are purely illustrative. You’ll need to source the actual data from the company’s filings and a financial data platform.

Bottom line

• The news release itself does not provide the valuation multiples you asked for.
  
• To answer the question accurately, you must retrieve poLight’s latest share price, earnings, EBITDA, and debt/cash figures, compute P/E and EV/EBITDA, and then benchmark those against a carefully selected peer group in the imaging industry.
  
• Once you have those figures, a straightforward side‑by‑side table (as shown in the illustrative example) will convey whether poLight is trading at a premium, at parity, or at a discount relative to its peers.
  

If you obtain the raw numbers and would like help interpreting them, feel free to share them and I can walk you through the comparative analysis.