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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Laser Focus World produces a video newscast that gives a peek into what’s happening in the world of photonics.

Following the Photons: A Photonics Podcast

Following the Photons: A Photonics Podcast dives deep into the fascinating world of photonics. Our weekly episodes feature interviews and discussions with industry and research experts, providing valuable perspectives on the issues, technologies, and trends shaping the photonics community.

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 Profitable Stocks Walking a Fine Line

BYD Cover Image

While profitability is essential, it doesn’t guarantee long-term success. Some companies that rest on their margins will lose ground as competition intensifies - as Jeff Bezos said, "Your margin is my opportunity".

Not all profitable companies are created equal, and that’s why we built StockStory - to help you find the ones that truly shine bright. Keeping that in mind, here are three profitable companies to steer clear of and a few better alternatives.

Boyd Gaming (BYD)

Trailing 12-Month GAAP Operating Margin: 22.9%

Run by the Boyd family, Boyd Gaming (NYSE: BYD) is a diversified operator of gaming entertainment properties across the United States, offering casino games, hotel accommodations, and dining.

Why Do We Avoid BYD?

  1. 4.6% annual revenue growth over the last two years was slower than its consumer discretionary peers
  2. Projected sales decline of 12.1% for the next 12 months points to a tough demand environment ahead
  3. Waning returns on capital from an already weak starting point displays the inefficacy of management’s past and current investment decisions

At $84.60 per share, Boyd Gaming trades at 12.7x forward P/E. If you’re considering BYD for your portfolio, see our FREE research report to learn more.

Newmark (NMRK)

Trailing 12-Month GAAP Operating Margin: 5.6%

Founded in 1929, Newmark (NASDAQ: NMRK) provides commercial real estate services, including leasing advisory, global corporate services, investment sales and capital markets, property and facilities management, valuation and advisory, and consulting.

Why Are We Out on NMRK?

  1. Annual revenue growth of 7.4% over the last five years was below our standards for the consumer discretionary sector
  2. Poor free cash flow margin of 0% for the last two years limits its freedom to invest in growth initiatives, execute share buybacks, or pay dividends
  3. ROIC of 2.7% reflects management’s challenges in identifying attractive investment opportunities

Newmark is trading at $19.59 per share, or 12.4x forward P/E. Dive into our free research report to see why there are better opportunities than NMRK.

Jefferies (JEF)

Trailing 12-Month GAAP Operating Margin: 12.3%

Tracing its roots back to 1962 and rebranded from Leucadia National Corporation in 2018, Jefferies Financial Group (NYSE: JEF) is a global investment banking and capital markets firm that provides advisory services, securities trading, and asset management to corporations, institutions, and wealthy individuals.

Why Does JEF Give Us Pause?

  1. Below-average return on equity indicates management struggled to find compelling investment opportunities
  2. High net-debt-to-EBITDA ratio increases the risk of forced asset sales or dilutive financing if operational performance weakens

Jefferies’s stock price of $66.65 implies a valuation ratio of 1.4x forward P/E. To fully understand why you should be careful with JEF, check out our full research report (it’s free).

High-Quality Stocks for All Market Conditions

When Trump unveiled his aggressive tariff plan in April 2025, markets tanked as investors feared a full-blown trade war. But those who panicked and sold missed the subsequent rebound that’s already erased most losses.

Don’t let fear keep you from great opportunities and take a look at 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-micro-cap company Kadant (+351% five-year return). Find your next big winner with StockStory today for free.

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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