Assay

Financial-condition grades for SEC filers

Company Report · as of Oct 9, 2026

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MethodCoverageAbout
Kopin Corp.KOPN · business equipment
GradeNonecomputable_factors_below_threshold: 6 of 14 inputs computable; 7 are required
Reliability0.83 AUCfailure model, filers with $12.5M to $120M assets; 95% interval 0.79 to 0.86; 201 events, 2020 to 2025
Peer failure rate1.07% a yearItem 1.03 bankruptcies, same asset band, 2012 to 2025
Size band$12.5M to $120M assetstotal assets $108.4M[1]
Standard universeinsiderevenue above $1M and assets above $10M[1-2]
Warningslate filer, thin datanot computable: distress, fortress balance sheet
Inputs computable6 of 14
Graded fromfilings received through Apr 13, 2026179 days before the rescan; every figure keyed to the SEC receipt date
Last close$4.192026-10-08; market equity $778.8M; iex feed
Price used in gradeNone
Share price, twelve months to the rescansplit-adjusted close; a lollipop at every rescan carries the letter held then; baseline ticks are SEC receipt dates of the inputs; ranges and dragging scroll the full history
$2$4$6NovDecJanFebMarAprMayJunJulAugSepOct$4.20
ABCDE20132014201520162017201820192020202120222023202420252026

Percentile at every rescan on file, Jan 21, 2012 to Oct 9, 2026; stronger toward the top. Hover for the date.

Open this report as it stood on

Letter setLetterPercentileBand
Jan 21, 2012nonen/a
Mar 21, 2012nonen/aQ3
Mar 21, 2016nonen/aQ2

Each date opens the report as it stood on that rescan.

Business, in the company's words. Opening of Item 1 of the 10-K received Apr 13, 2026; the document on sec.gov.

used herein, the terms “Company,” “we,” “us,” or “our” refer to Kopin Corporation, a Corporation, a Delaware corporation, incorporated in 1984, and is headquartered in Westborough, Massachusetts, is a leader of innovative microdisplay technologies and optical systems, catering to defense, enterprise, industrial, consumer, and medical sectors.

Warnings [top]

Late filer. found 2 NT 10-K/Q filings in the last eight quarters
Thin data. 6 of 14 grade factors are computable; minimum is 7

7 checks ran; none of them enters the letter. The checks are listed on the warnings screen.

The Fourteen Inputs [top]

Lower percentile is stronger. Source numbers open the SEC filing; a range that spans filings opens the sources table.

InputPercentile, 0 to 100ValueSourcePeer medianPercentilePeersPeriod end
Profitability, sleeve percentile 96.0
Gross profitabilitynot computable28.5%
latest aligned inputs end 2020-12-26; latest annual assets end 2025-12-27
Return on invested capitalnot computable10.9%
one or more required annual facts are missing
Accruals ratio20.3%[1,3-5](7.4%)96.06212025-12-27
Gross margin stability, five yearsnot computable2.4 pts
five annual gross margins are required; found 3
Solvency, sleeve percentile 56.5
Twelve-month failure probabilitynot computable0.05%
latest liabilities, cash plus short-term investments, book equity, and shares are required
Altman Z double-prime(7.29)[1,6-11]2.1878.25662025-12-27
Net debt to EBITDAnot computable1.11x
one or more required annual facts are missing
Interest coveragenot computable3.77x
one or more required annual facts are missing
Current ratio2.70x[6-7]2.02x34.76662025-12-27
Growth and financing, sleeve percentile 57.0
Revenue growth, three-year compound(6.0%)[2,12-14]6.4%81.85382025-12-27
Free cash flow growth, three-year compoundnot computable17.2%
current FCF must be positive and base FCF must exceed $100,000
Reinvestment ratenot computable14.3%
NOPAT must exceed $100,000
Asset growth, three years35.3%[1,5,15-16]5.0%8.45632025-12-27
Net share issuance, one year13.1%[17-18]0.5%80.84072026-04-13

Gross profitability. Revenue less cost of goods sold, over total assets.

Accruals ratio. Net income less operating cash flow, over average assets; lower is stronger.

Gross margin stability, five years. Standard deviation of gross margin; lower is stronger.

Twelve-month failure probability. CHS model; lower is stronger.

Net debt to EBITDA. Lower is stronger.

Net share issuance, one year. Split-adjusted; lower is stronger.

Among 497 Peers [top]

What the Price Implies [top]

Market measures at the 2026-10-08 close. None enters the grade. Percentile among graded peers with the same measure.

MeasureValuePeer medianPercentileReading
Twelve-month price change, skipping the latest month82.7%2.2%87hotter than 87 of 100 peers
Distance from 52-week high(34.3%)(30.0%)42closer to its high than 42 of 100 peers
EBIT to enterprise valuenot computable1.5%required accounting or market input is missing
Free cash flow yield(2.2%)2.7%21pricier than 79 of 100 peers
Book value to price0.090.2324pricier than 76 of 100 peers
Sales to price0.050.308pricier than 92 of 100 peers
Composite equity issuance, five years71.1%3.9%89more equity-funded than 89 of 100 peers
Relative strength against the sector, log excess return0.32(0.26)87ahead of 87 of 100 peers

Inputs: market equity $780.7M; EBIT -$9.9M; free cash flow -$17.0M; book equity $69.2M; sales $39.3M; cash $24.9M[19].

Diagnostics [top]

Diagnostics do not feed the grade.

Piotroski F-score: None of 9, period end 2025-12-27
Return on assets above zero3.7%✓ pass[3,5]
Operating cash flow above zero-$15.5M✗ fail[4]
Return on assets improved92.7 pts✓ pass[3,5,15,20]
Operating cash flow exceeds net income-$18.1M✗ fail[3-4]
Long-term leverage felln/a[1,5,15]
Current ratio improved127.1 pts✓ pass[6-7,21-22]
No new shares issued13.1%✗ fail[17-18]
Gross margin improvedn/a
Asset turnover improved(46.5 pts)✗ fail[2,5,12,15]
Cash, filings, liquidity
Cash and equivalents$24.9M[23]
Operating cash flow, four quarters-$13.1M[4,23-27]
Months of runway22.8
Late filings, two years2
NT 10-K or NT 10-Q
Days since last periodic filing59
10-Q received Aug 11, 2026
Median daily dollar volume$14.8M
63 sessions
Days since newest grade input179

Downloads [top]

Sources [top]

Every citation on this page. Filing opens the SEC index page for that submission; viewer opens the SEC interactive data for the same filing; series opens the SEC XBRL API record for that tag and company.

#ConceptXBRL tagValuePeriod endReceivedFormLinks
1assetsus-gaap:Assets$108.4M2025-12-272026-04-1310-Kfiling · viewer · series
2revenueus-gaap:RevenueFromContractWithCustomerExcludingAssessedTax$39.3M2025-12-272026-04-1310-Kfiling · viewer · series
3net incomeus-gaap:NetIncomeLoss$2.6M2025-12-272026-04-1310-Kfiling · viewer · series
4operating cash flowus-gaap:NetCashProvidedByUsedInOperatingActivities-$15.5M2025-12-272026-04-1310-Kfiling · viewer · series
5assetsus-gaap:Assets$70.8M2024-12-282026-04-1310-Kfiling · viewer · series
6current assetsus-gaap:AssetsCurrent$91.8M2025-12-272026-04-1310-Kfiling · viewer · series
7current liabilitiesus-gaap:LiabilitiesCurrent$34.0M2025-12-272026-04-1310-Kfiling · viewer · series
8retained earningsus-gaap:RetainedEarningsAccumulatedDeficit-$399.4M2025-12-272026-04-1310-Kfiling · viewer · series
9operating incomeus-gaap:OperatingIncomeLoss-$9.9M2025-12-272026-04-1310-Kfiling · viewer · series
10book equityus-gaap:StockholdersEquity$64.1M2025-12-272026-04-1310-Kfiling · viewer · series
11liabilitiesus-gaap:Liabilities$36.7M2025-12-272026-04-1310-Kfiling · viewer · series
12revenueus-gaap:RevenueFromContractWithCustomerExcludingAssessedTax$50.3M2024-12-282026-04-1310-Kfiling · viewer · series
13revenueus-gaap:RevenueFromContractWithCustomerExcludingAssessedTax$40.4M2023-12-302025-04-1710-Kfiling · viewer · series
14revenueus-gaap:RevenueFromContractWithCustomerExcludingAssessedTax$47.4M2022-12-312025-04-1710-Kfiling · viewer · series
15assetsus-gaap:Assets$49.3M2023-12-302025-04-1710-Kfiling · viewer · series
16assetsus-gaap:Assets$43.8M2022-12-312024-03-1410-Kfiling · viewer · series
17shares outstandingdei:EntityCommonStockSharesOutstanding183,363,4152026-04-132026-04-1310-Kfiling · viewer · series
18shares outstandingdei:EntityCommonStockSharesOutstanding162,067,0002025-04-162025-05-2010-K/Afiling · viewer · series
19shares outstandingdei:EntityCommonStockSharesOutstanding185,872,6142026-08-112026-08-1110-Qfiling · viewer · series
20net incomeus-gaap:NetIncomeLoss-$43.9M2024-12-282026-04-1310-Kfiling · viewer · series
21current assetsus-gaap:AssetsCurrent$62.8M2024-12-282026-04-1310-Kfiling · viewer · series
22current liabilitiesus-gaap:LiabilitiesCurrent$43.9M2024-12-282026-04-1310-Kfiling · viewer · series
23cashus-gaap:CashAndCashEquivalentsAtCarryingValue$24.9M2026-06-272026-08-1110-Qfiling · viewer · series
24operating cash flowus-gaap:NetCashProvidedByUsedInOperatingActivities-$5.1M2026-06-272026-08-1110-Qfiling · viewer · series
25operating cash flowus-gaap:NetCashProvidedByUsedInOperatingActivities-$810,7462026-03-282026-05-1210-Qfiling · viewer · series
26operating cash flowus-gaap:NetCashProvidedByUsedInOperatingActivities-$7.7M2025-09-272025-11-1210-Qfiling · viewer · series
27operating cash flowus-gaap:NetCashProvidedByUsedInOperatingActivities-$7.6M2025-06-282026-08-1110-Qfiling · viewer · series

Limitations [top]

Peer group. Sector assignment from four-digit SIC codes, hand-tuned and published. The grade under three alternative peer policies is tabled above.

Size. Within a sector the letter tracks size. Among graded filers in the smallest asset band, 72% grade E and 0% grade A; in the largest, 13% grade E and 21% grade A. Universe as of Oct 9, 2026.

Failure model. filings 2012-01-01 to 2019-12-31 fit, filings 2020-01-01 to 2025-12-31 test; status post hoc pending confirmation. pre-registered on 2026 filings once their 12-month outcome windows close; supported if the paired per-quintile gain over the pooled model has a lower bound above 0.05.

Input validity. Revenue or total assets at or below $100,000 sets the degenerate-inputs flag. An input whose denominator is at or below $100,000 is left not computable rather than ranked.

Returns. No input on this page has a post-2015 confidence interval on returns that excludes zero. The grade ranks reported financial condition and is not a return forecast.

Informational and educational only. Not investment advice. SEC and market data may contain errors.

If you have any comments about this page, the methodology and every line of code that produced it are in the public repository. However, due to the limited number of personnel, we are unable to provide a direct response.

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Source
GitHub · ezrakruger.cc
Photographs from Wikimedia Commons

bull: Raphael Schön from Vienna, Austria, CC BY 2.0; bear: U. S. Fish and Wildlife Service - Northeast Region, Public domain; elk: Oregon Department of Fish & Wildlife, Public domain; tortoise: NPS, Public domain; sloth: Charles J. Sharp, CC BY-SA 3.0; fox: Cp9asngf, CC BY-SA 4.0; sector-business_equipment: Sangitiana Fararano, CC BY-SA 2.0; sector-healthcare: User:Squidonius, myself, and User:Beliason (assumed)., CC BY-SA 4.0; sector-manufacturing: unknown, CC BY-SA 2.0; sector-shops: Wilfredor, CC BY-SA 4.0; sector-consumer_nondurables: Nielsoncaetanosalmeron, CC BY 4.0; sector-utilities: Lijovklm, CC BY-SA 4.0; sector-consumer_durables: Stilfehler, CC BY-SA 4.0; sector-chemicals: PEO ACWA, CC BY 2.0; sector-energy: Arne Hückelheim, CC BY-SA 3.0; sector-telecom: Wikideas1, CC0; sector-other: Downtowngal, CC BY-SA 4.0.

Updated Oct 9, 2026