Laser Focus World is an industry bedrock—first published in 1965 and still going strong. We publish original articles about cutting-edge advances in lasers, optics, photonics, sensors, and quantum technologies, as well as test and measurement, and the shift currently underway to usher in the photonic integrated circuits, optical interconnects, and copackaged electronics and photonics to deliver the speed and efficiency essential for data centers of the future.

Our 80,000 qualified print subscribers—and 130,000 12-month engaged online audience—trust us to dive in and provide original journalism you won’t find elsewhere covering key emerging areas such as laser-driven inertial confinement fusion, lasers in space, integrated photonics, chipscale lasers, LiDAR, metasurfaces, high-energy laser weaponry, photonic crystals, and quantum computing/sensors/communications. We cover the innovations driving these markets.

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Editorial Advisory Board

  • Professor Andrea M. Armani, University of Southern California
  • Ruti Ben-Shlomi, Ph.D., LightSolver
  • James Butler, Ph.D., Hamamatsu
  • Natalie Fardian-Melamed, Ph.D., Columbia University
  • Justin Sigley, Ph.D., AmeriCOM
  • Professor Birgit Stiller, Max Planck Institute for the Science of Light, and Leibniz University of Hannover
  • Professor Stephen Sweeney, University of Glasgow
  • Mohan Wang, Ph.D., University of Oxford
  • Professor Xuchen Wang, Harbin Engineering University
  • Professor Stefan Witte, Delft University of Technology

3 Industrials Stocks Walking a Fine Line

DCI Cover Image

Industrials businesses quietly power the physical things we depend on, from cars and homes to e-commerce infrastructure. Unfortunately, this role also comes with a demand profile tethered to the ebbs and flows of the broader economy, and investors seem to be forecasting a downturn - over the past six months, the industry has pulled back by 5.7%. This performance was disappointing since the S&P 500 stood firm.

Some companies can grow regardless of the economic backdrop, but the odds aren’t great for the ones we’re analyzing today. Keeping that in mind, here are three industrials stocks we’re swiping left on.

Donaldson (DCI)

Market Cap: $8.49 billion

Playing a vital role in the historic Apollo 11 mission, Donaldson (NYSE: DCI) manufacturers and sells filtration equipment for various industries.

Why Are We Wary of DCI?

  1. Organic revenue growth fell short of our benchmarks over the past two years and implies it may need to improve its products, pricing, or go-to-market strategy
  2. Estimated sales growth of 2.3% for the next 12 months is soft and implies weaker demand
  3. Capital intensity has ramped up over the last five years as its free cash flow margin decreased by 3.7 percentage points

At $70.88 per share, Donaldson trades at 18.5x forward P/E. Check out our free in-depth research report to learn more about why DCI doesn’t pass our bar.

Astec (ASTE)

Market Cap: $960.4 million

Inventing the first ever double-barrel hot-mix asphalt plant, Astec (NASDAQ: ASTE) provides machines and equipment for building roads, processing raw materials, and producing concrete.

Why Do We Steer Clear of ASTE?

  1. Sales pipeline suggests its future revenue growth won’t meet our standards as its backlog averaged 28.1% declines over the past two years
  2. Projected sales growth of 3.5% for the next 12 months suggests sluggish demand
  3. Free cash flow margin dropped by 8.1 percentage points over the last five years, implying the company became more capital intensive as competition picked up

Astec is trading at $41.96 per share, or 14.8x forward P/E. Read our free research report to see why you should think twice about including ASTE in your portfolio.

BrightView (BV)

Market Cap: $1.56 billion

An official field consultant for Major League Baseball, BrightView (NYSE: BV) offers landscaping design, development, and maintenance.

Why Should You Sell BV?

  1. Sales were flat over the last two years, indicating it’s failed to expand this cycle
  2. Falling earnings per share over the last five years has some investors worried as stock prices ultimately follow EPS over the long term
  3. Low returns on capital reflect management’s struggle to allocate funds effectively

BrightView’s stock price of $16.33 implies a valuation ratio of 18.4x forward P/E. If you’re considering BV for your portfolio, see our FREE research report to learn more.

High-Quality Stocks for All Market Conditions

Market indices reached historic highs following Donald Trump’s presidential victory in November 2024, but the outlook for 2025 is clouded by new trade policies that could impact business confidence and growth.

While this has caused many investors to adopt a "fearful" wait-and-see approach, we’re leaning into our best ideas that can grow regardless of the political or macroeconomic climate. Take advantage of Mr. Market by checking out our Top 5 Strong Momentum Stocks for this week. This is a curated list of our High Quality stocks that have generated a market-beating return of 176% over the last five years.

Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-micro-cap company Tecnoglass (+1,754% five-year return). Find your next big winner with StockStory today for free.

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