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 We Approach with Caution

CXM Cover Image

Generating cash is essential for any business, but not all cash-rich companies are great investments. Some produce plenty of cash but fail to allocate it effectively, leading to missed opportunities.

Not all companies are created equal, and StockStory is here to surface the ones with real upside. That said, here are three cash-producing companies to avoid and some better opportunities instead.

Sprinklr (CXM)

Trailing 12-Month Free Cash Flow Margin: 12.9%

With a proprietary AI engine processing 450 million data points daily across 30+ digital channels, Sprinklr (NYSE: CXM) provides cloud-based software that helps large enterprises manage customer experiences across social, messaging, chat, and voice channels.

Why Do We Pass on CXM?

  1. Customers had second thoughts about committing to its platform over the last year as its average billings growth of 4% underwhelmed
  2. Estimated sales growth of 3.4% for the next 12 months implies demand will slow from its three-year trend
  3. Day-to-day expenses have swelled relative to revenue over the last year as its operating margin fell by 3.6 percentage points

At $8.30 per share, Sprinklr trades at 2.6x forward price-to-sales. If you’re considering CXM for your portfolio, see our FREE research report to learn more.

Kennametal (KMT)

Trailing 12-Month Free Cash Flow Margin: 6.2%

Involved in manufacturing hard tips of anti-tank projectiles in World War II, Kennametal (NYSE: KMT) is a provider of industrial materials and tools for various sectors.

Why Should You Dump KMT?

  1. Core business is underperforming as its organic revenue has disappointed over the past two years, suggesting it might need acquisitions to stimulate growth
  2. Projected sales growth of 1.4% for the next 12 months suggests sluggish demand
  3. Earnings per share have dipped by 5.4% annually over the past two years, which is concerning because stock prices follow EPS over the long term

Kennametal is trading at $20.81 per share, or 14.2x forward P/E. Dive into our free research report to see why there are better opportunities than KMT.

WEX (WEX)

Trailing 12-Month Free Cash Flow Margin: 10.9%

Originally founded in 1983 as Wright Express to serve the fleet card market, WEX (NYSE: WEX) provides payment processing and business solutions across fleet management, employee benefits, and corporate payments sectors.

Why Does WEX Give Us Pause?

  1. Sales trends were unexciting over the last two years as its 2.6% annual growth was below the typical financials company
  2. Earnings per share lagged its peers over the last two years as they only grew by 5.2% annually
  3. Low return on equity reflects management’s struggle to allocate funds effectively

WEX’s stock price of $169.61 implies a valuation ratio of 10.6x forward P/E. Read our free research report to see why you should think twice about including WEX in your portfolio.

Stocks We Like More

Donald Trump’s April 2025 "Liberation Day" tariffs sent markets into a tailspin, but stocks have since rebounded strongly, proving that knee-jerk reactions often create the best buying opportunities.

The smart money is already positioning for the next leg up. Don’t miss out on the recovery - check 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 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 Exlservice (+354% five-year return). Find your next big winner with StockStory today for free. Find your next big winner with StockStory today. Find your next big winner with StockStory today

StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here.

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