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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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

2 Cash-Producing Stocks with Exciting Potential and 1 We Ignore

KLAC 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.

Cash flow is valuable, but it’s not everything - StockStory helps you identify the companies that truly put it to work. That said, here are two cash-producing companies that reinvest wisely to drive long-term success and one best left off your watchlist.

One Stock to Sell:

Werner (WERN)

Trailing 12-Month Free Cash Flow Margin: 1.6%

Conducting business in over a 100 countries, Werner (NASDAQ: WERN) offers full-truckload, less-than-truckload, and intermodal delivery services.

Why Do We Pass on WERN?

  1. Sales tumbled by 5.7% annually over the last two years, showing market trends are working against its favor during this cycle
  2. Earnings per share fell by 37.2% annually over the last five years while its revenue grew, showing its incremental sales were much less profitable
  3. Shrinking returns on capital from an already weak position reveal that neither previous nor ongoing investments are yielding the desired results

Werner is trading at $27.60 per share, or 34.8x forward P/E. If you’re considering WERN for your portfolio, see our FREE research report to learn more.

Two Stocks to Buy:

KLA Corporation (KLAC)

Trailing 12-Month Free Cash Flow Margin: 30.8%

Formed by the 1997 merger of the two leading semiconductor yield management companies, KLA Corporation (NASDAQ: KLAC) is the leading supplier of equipment used to measure and inspect semiconductor chips.

Why Do We Love KLAC?

  1. Annual revenue growth of 15.9% over the past five years was outstanding, reflecting market share gains this cycle
  2. Offerings are difficult to replicate at scale and lead to a best-in-class gross margin of 60.5%
  3. Robust free cash flow margin of 30.9% gives it many options for capital deployment, and its growing cash flow gives it even more resources to deploy

KLA Corporation’s stock price of $1,050 implies a valuation ratio of 31.7x forward P/E. Is now a good time to buy? See for yourself in our comprehensive research report, it’s free.

Trane Technologies (TT)

Trailing 12-Month Free Cash Flow Margin: 13.5%

With low-pressure heating systems as its first product, Trane (NYSE: TT) designs, manufactures, and sells HVAC and refrigeration systems, the former to commercial and residential building customers and the latter to commercial truck manufacturers.

Why Are We Bullish on TT?

  1. Market share has increased this cycle as its 11.1% annual revenue growth over the last two years was exceptional
  2. Share repurchases over the last two years enabled its annual earnings per share growth of 22.7% to outpace its revenue gains
  3. ROIC punches in at 23.8%, illustrating management’s expertise in identifying profitable investments, and its returns are climbing as it finds even more attractive growth opportunities

At $402.49 per share, Trane Technologies trades at 29.1x forward P/E. Is now the right time to buy? Find out in our full research report, it’s free.

High-Quality Stocks for All Market Conditions

Trump’s April 2025 tariff bombshell triggered a massive market selloff, but stocks have since staged an impressive recovery, leaving those who panic sold on the sidelines.

Take advantage of the rebound 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-micro-cap company Kadant (+351% 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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