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.

Laser Focus World is part of Endeavor Business Media, a division of EndeavorB2B.

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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 Cash-Producing Stocks with Mounting Challenges

COUR Cover Image

While strong cash flow is a key indicator of stability, it doesn’t always translate to superior returns. Some cash-heavy businesses struggle with inefficient spending, slowing demand, or weak competitive positioning.

Cash flow is valuable, but it’s not everything - StockStory helps you identify the companies that truly put it to work. Keeping that in mind, here are three cash-producing companies that don’t make the cut and some better opportunities instead.

Coursera (COUR)

Trailing 12-Month Free Cash Flow Margin: 9.4%

Founded by two Stanford University computer science professors, Coursera (NYSE: COUR) is an online learning platform that offers courses, specializations, and degrees from top universities and organizations around the world.

Why Are We Cautious About COUR?

  1. Customer spending has dipped by 5.2% on average as it focused on growing its customers
  2. Estimated sales growth of 4.1% for the next 12 months implies demand will slow from its three-year trend
  3. Expensive marketing campaigns hurt its profitability and make us wonder what would happen if it let up on the gas

Coursera’s stock price of $8.93 implies a valuation ratio of 25.3x forward EV/EBITDA. If you’re considering COUR for your portfolio, see our FREE research report to learn more.

Herbalife (HLF)

Trailing 12-Month Free Cash Flow Margin: 3.3%

With the first products sold out of the trunk of the founder’s car, Herbalife (NYSE: HLF) today offers a portfolio of shakes, supplements, personal care products, and weight management programs to help customers reach their nutritional and fitness goals.

Why Does HLF Give Us Pause?

  1. Declining unit sales over the past two years indicate demand is soft and that the company may need to revise its product strategy
  2. Estimated sales for the next 12 months are flat and imply a softer demand environment
  3. Earnings per share have dipped by 21.7% annually over the past three years, which is concerning because stock prices follow EPS over the long term

Herbalife is trading at $7.70 per share, or 3.8x forward P/E. Check out our free in-depth research report to learn more about why HLF doesn’t pass our bar.

Amentum (AMTM)

Trailing 12-Month Free Cash Flow Margin: 1.1%

With operations spanning approximately 80 countries and a workforce of specialized engineers and technical experts, Amentum Holdings (NYSE: AMTM) provides advanced engineering and technology solutions to U.S. government agencies, allied governments, and commercial enterprises across defense, energy, and space sectors.

Why Does AMTM Fall Short?

  1. Large revenue base makes it harder to increase sales quickly, and its annual revenue growth of 2.4% over the last three years was below our standards for the business services sector
  2. Estimated sales growth of 1.2% for the next 12 months implies demand will slow from its two-year trend
  3. Poor free cash flow margin of 1.6% for the last four years limits its freedom to invest in growth initiatives, execute share buybacks, or pay dividends

At $22.65 per share, Amentum trades at 10.2x forward P/E. To fully understand why you should be careful with AMTM, check out our full research report (it’s free).

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 9 Market-Beating Stocks. This is a curated list of our High Quality stocks that have generated a market-beating return of 183% over the last five years (as of March 31st 2025).

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-small-cap company Comfort Systems (+782% five-year return). Find your next big winner with StockStory today for free.

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