One-glance verdict
Not enough data
Fair value unavailable
Not enough cash-flow history to value this one with our method.
Fundamentals snapshot
Xometry, Inc.
XMTR · NMS · Industrials · Industrial Distribution
Current price
$100.57
52-week range
$35.86 - $107.93
Market cap
$5.77B
Balance sheet
Healthy
-9.27x Concerning
Net cash $176.90M. Interest coverage shows how many times profit covers the interest bill.
What stands out
1 Reward
2 Risks
1 rewards · 2 risks
- Reward Revenue grew 17.6% last year.
- Risk Return on equity was -7.1% last year — the company lost money on shareholders' equity.
- Risk Insider ownership is only 6.9% (peer median: 7.5%).
What this company does
Xometry, Inc.
Xometry runs an online marketplace that uses artificial intelligence (AI) to connect companies needing custom-made parts with the various manufacturers who can produce them. The company earns its revenue (the money it makes from sales) by taking a percentage of each transaction that happens on its site. This service is important because it aims to make the traditionally slow and complicated process of industrial parts manufacturing much simpler and faster for businesses.
How the company got here
Xometry was founded in 2013 with the goal of making it easier for companies to get custom-manufactured parts. It started by creating an online system that could instantly provide a price quote for a part based on a 3D design file, a process that used to take days or weeks. The company went public on the Nasdaq stock exchange in 2021, which allowed it to raise money from investors to grow the business. A major turning point was its 2021 acquisition of Thomasnet, a well-known online directory of industrial suppliers, which significantly expanded its services for manufacturers.
What it actually does
Think of Xometry as a go-between, or a marketplace, that connects businesses needing custom parts with the manufacturers who can make them. Instead of owning any factories itself, Xometry uses artificial intelligence (AI) to instantly price a custom part and then matches the order with a company in its large network of suppliers. This allows customers, from startups to large companies like BMW and NASA, to easily order custom components like CNC-machined parts, 3D-printed items, and sheet metal pieces without having to find and negotiate with individual machine shops. Xometry manages the entire process for the buyer, from quoting the price to ensuring the final part is delivered.
Marketplace
This is Xometry's main business and makes up the vast majority of its revenue (the money it brings in from sales). When a customer, like an engineer or a product designer, needs a custom part made, they upload their digital design to Xometry's website. Xometry's AI-powered system instantly calculates a price, and if the customer places the order, Xometry takes a fee from the transaction before paying a manufacturer in its network to actually produce and deliver the part. This segment earns money on the spread between what the buyer pays and what Xometry pays the supplier.
Supplier Services
This is a smaller but important part of the company that came from the acquisition of Thomasnet. Instead of focusing on the buyers of parts, this segment makes money by selling services to the manufacturing companies themselves. These services include digital advertising and marketing to help suppliers get discovered by potential customers on the Thomasnet platform. This creates a more stable and recurring (repeating) revenue stream for Xometry, as suppliers pay for these marketing services on a regular basis.
What management is betting on now
Xometry's leadership is focused on expanding its core marketplace, especially with large enterprise customers who might spend millions of dollars a year. They are also investing heavily in their AI technology to make pricing even smarter and to better match jobs with the right suppliers. Another key priority is growing internationally, particularly in Europe and Asia, to make their network truly global. Finally, they aim to get more of the suppliers on the Thomasnet directory to pay for advertising, which would increase revenue from their Supplier Services business.
Price history
How the share price has moved
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Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2024 Q3
$-8.44M
FY2024 Q4
$4.55M
FY2025 Q1
$-9.19M
FY2025 Q2
$-7.39M
FY2025 Q3
$-1.66M
FY2025 Q4
$-5.86M
Revenue
$229.28M
Net income
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Diluted EPS
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Operating cash flow
$2.92M
Free cash flow
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Sources
Revenue
$205.14M
Net income
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Diluted EPS
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Operating cash flow
$14.62M
Free cash flow
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Sources
Revenue
$192.40M
Net income
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Diluted EPS
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Operating cash flow
$4.41M
Free cash flow
$-5.86M
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Sources
Revenue
$180.72M
Net income
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Diluted EPS
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Operating cash flow
$5.79M
Free cash flow
$-1.66M
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Sources
Revenue
$162.55M
Net income
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Diluted EPS
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Operating cash flow
$-427.00K
Free cash flow
$-7.39M
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Sources
Revenue
$150.97M
Net income
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Diluted EPS
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Operating cash flow
$-3.69M
Free cash flow
$-9.19M
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Sources
Revenue
$148.55M
Net income
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Diluted EPS
-1.03
Operating cash flow
$9.09M
Free cash flow
$4.55M
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Sources
Revenue
$141.70M
Net income
$-10.20M
Diluted EPS
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Operating cash flow
$-3.63M
Free cash flow
$-8.44M
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Sources
Is it cheap or expensive?
Fair value — vs current price $100.57
We couldn't calculate a fair value right now.
Is it drowning in debt?
Healthy
Net cash $176.9M - more cash than debt. Interest coverage -9.3x.
Net debt
$-176.90M
Interest coverage
-9.27x
Xometry, Inc.'s profit covers its interest bill about 0.0 times over. which is weaker than most peers shown here and 3 peers sit below 1x, which is the danger zone where profit does not fully cover the interest bill.
Healthy
Worse cushion
Baseline
Better cushion
XMTR
BASELINE
Xometry, Inc.
Total debt $339.77M Interest coverage -9.27x This is the baseline the peer rows are being compared against.
Total debt $25.41M Interest coverage -6.98x Neither company has much profit cushion over interest right now.
Total debt $152.19M Interest coverage -18.47x Neither company has much profit cushion over interest right now.
Total debt $30.82M Interest coverage -12.58x Neither company has much profit cushion over interest right now.
What you should know
The case for and against XMTR
1 Reward
2 Risks
Rewards
-
Revenue grew 17.6% last year.
Risks
-
Return on equity was -7.1% last year — the company lost money on shareholders' equity.
-
Insider ownership is only 6.9% (peer median: 7.5%).
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
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Forward P/E
78.37x
P/B
18.63x
P/S
7.14x
EV/EBITDA
-534.50x
PEG ratio
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Profitability
How much profit each dollar creates
Gross margin
38.7%
Operating margin
-2.4%
Net margin
-3.8%
ROE
-7.1%
ROA
-2.2%
Health
Liquidity and balance-sheet strength
Debt / equity
0.57x
Current ratio
3.21x
Quick ratio
3.09x
Total debt
$339.77M
Total cash
$516.67M
Growth
How the business has been compounding
Revenue TTM
$807.53M
Revenue 5Y CAGR
33.2%
EPS TTM
-0.60
EPS 5Y CAGR
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Cash flow
How much cash the business throws off
Operating CF TTM
$27.75M
Free CF TTM
$-24.09M
FCF margin
-3.0%
Dividend
Shareholder payout
Yield
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Payout ratio
0.0%
Last ex-div date
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