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Makes RAIN RFID chips, tags and reader systems used to identify and track items in retail, logistics and supply chains.
Makes RAIN RFID chips, tags and reader systems used to identify and track items in retail, logistics and supply chains.
Sells its chips mostly to makers of finished tags, who embed them in labels sold on to retailers and logistics firms, so sales swing with how fast a big retailer rolls out tagging. Readers and antennas are a smaller line. It designs the chips and has outside factories make them.
Moat: narrow (IP / patents, installed base). Leading share in RAIN RFID endpoint ICs with an established ecosystem, though the category still faces adoption/cyclicality risk.
Headquarters: Seattle, Washington, United States · Founded: 2000 · Employees: 457
Size Impinj (PI) is a United States Information Technology company (Semiconductors) with a market value of $5.28B, the 1149th largest of 3,117 United States companies the cockpit tracks. Shares closed at $171.03 on 6 Nov 2026.
Performance Over six months the shares gained 11.8%, against -25.5% for the median peer and -1.1% for the United States market (cap-weighted) — 2nd highest of 20 in its peer set.
Growth Revenue grew 7.7% over the last twelve months (peer median +28.5%); the operating margin is -0.7% (peer median 18.0%).
Valuation It trades at 62.6× forward earnings against a peer median of 33.5× (3rd most expensive of 18).
Price implies For today's price to make sense, revenue must grow about 47% a year for seven years (Req g). Recent delivered growth is +21%, so the hurdle is +26 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 14.6 points below its cost of capital (14.0% WACC).
Short interest Short interest is 8.2% of the free float (15 Oct 2026).
Next results Next results expected around 10 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $388M | $361M | $366M | $308M | $258M |
| Revenue growth | — | -1% | +19% | +19% | — |
| Gross profit | $205M | $188M | $186M | $147M | $138M |
| EBITDA | $12.7M | $14.7M | $10.7M | -$26.6M | -$13.5M |
| Net income | -$9.50M | -$10.8M | $40.8M | -$43.4M | -$24.3M |
| Free cash flow | $65.6M | $45.9M | $111M | -$68.0M | -$11.4M |
| Capital expenditure | $10.7M | $12.9M | $17.1M | $18.8M | $12.1M |
| Total debt | $211M | $304M | $293M | $295M | $294M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Impinj PI | $5.28B | +12% | +8% | -1% | 62.6× | 47.2% |
| NXP Semiconductors NXPI | $62.6B | -15% | +15% | 30% | 14.1× | 16.3% |
| Avery Dennison AVY | $14.1B | +14% | +7% | 13% | 17.4× | 1.9% |
| Zebra Technologies ZBRA | $15.2B | +42% | +17% | 17% | 14.9× | 14.8% |
| Shanghai Fudan Microelectronics 1385.HK | $4.55B | -48% | +21% | 13% | 12.7× | 19.3% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | PI | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -6.8% | -20.0% | 8th highest of 21 |
| 6-month return | +11.8% | -25.5% | 2nd highest of 20 |
| Distance from 52-week high | -20.5% | -51.9% | 2nd highest of 21 |
| Revenue growth (TTM) | +7.7% | +28.5% | 3rd lowest of 21 |
| Operating margin | -0.7% | 18.0% | 4th lowest of 21 |
| Forward P/E | 62.6× | 33.5× | 3rd most expensive of 18 |
| Growth the price implies (Req g, 7 yrs) | 47.2% | 23.6% | 2nd most demanding of 12 |
| Growth delivered (Del g) | +21.1% | +16.5% | 5th highest of 12 |
| Hurdle (Req g minus delivered) | +26.1 pp | +4.4 pp | 3rd most demanding of 12 |
| ROIC minus cost of capital | -14.6 pp | +4.0 pp | 2nd lowest of 21 |
| Net debt / EBITDA | 7.7× | -0.0× | most indebted of 5 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Impinj PI | United States | $5.28B | +12% | +8% | -1% | 62.6× | 47.2% | +21.1% |
| Allegro MicroSystems ALGM | United States | $5.25B | -42% | +28% | 9% | 22.1× | 45.3% | +8.5% |
| Hubei Feilihua Quartz Glass 300395.SZ | China | $5.35B | -38% | +50% | 24% | 52.7× | n/a | n/a |
| Win Semiconductors 3105.TWO | Taiwan | $5.19B | -27% | +24% | 11% | 28.5× | 48.8% | -8.2% |
| GalaxyCore 688728.SS | China | $5.41B | +1% | +16% | 3% | 86.7× | 28.8% | +3.8% |
| Sigmastar Technology 301536.SZ | China | $5.41B | +4% | +99% | 31% | n/a | 19.6% | +20.0% |
| Dosilicon 688110.SS | China | $5.13B | -7% | +375% | 54% | 27.4× | 23.6% | +3.3% |
| Silicon Motion Technology Corporation Sponsored ADR SIMO | United States | $5.52B | -36% | +104% | 21% | 8.4× | n/a | n/a |
| EverProX Technologies 300548.SZ | China | $5.04B | -59% | +64% | 35% | 33.5× | 30.9% | +26.6% |
| Zhejiang Quartz Crystal Optoelectronic Technology 002273.SZ | China | $5.03B | -28% | +19% | 18% | 24.9× | 16.9% | +16.5% |
| Espressif Systems (Shanghai) 688018.SS | China | $5.61B | +30% | +23% | 19% | 48.8× | 36.0% | +25.3% |
| TCL Zhonghuan Renewable Energy Technology 002129.SZ | China | $5.68B | +9% | +13% | -27% | n/a | n/a | n/a |
| MaxOne Semiconductor (Suzhou) 688809.SS | China | $4.90B | +2% | +57% | 39% | n/a | n/a | n/a |
| Cirrus Logic CRUS | United States | $5.69B | -34% | +6% | 23% | 16.9× | 1.5% | +7.8% |
| Henan Shijia Photons Technology 688313.SS | China | $5.72B | -36% | +73% | 22% | 47.9× | n/a | n/a |
| CSI Solar 688472.SS | China | $4.87B | -37% | -36% | -2% | 48.8× | n/a | n/a |
| SG Micro 3661.HK | Hong Kong | $5.78B | n/a | +54% | 17% | 38.7× | 3.4% | +25.8% |
| Amlogic (Shanghai) 688099.SS | China | $5.84B | -13% | +39% | 17% | 22.4× | n/a | n/a |
| Beijing YanDong MicroElectronic 688172.SS | China | $5.86B | -26% | +22% | -89% | 63.3× | n/a | n/a |
| Hangzhou Silan Microelectronics 600460.SS | China | $5.93B | -18% | +12% | 2% | 41.1× | n/a | n/a |
| Yangzhou Yangjie Electronic Technology 300373.SZ | China | $5.99B | -3% | +29% | 18% | 22.4× | 18.1% | +22.3% |