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

3 Cash-Producing Stocks That Concern Us

W 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.

Luckily for you, we built StockStory to help you separate the good from the bad. That said, here are three cash-producing companies that don’t make the cut and some better opportunities instead.

Wayfair (W)

Trailing 12-Month Free Cash Flow Margin: 1.5%

Founded in 2002 by Niraj Shah, Wayfair (NYSE: W) is a leading online retailer of mass-market home goods in the US, UK, Canada, and Germany.

Why Do We Steer Clear of W?

  1. Intense competition is diverting traffic from its platform as its active customers fell by 1.7% annually
  2. Monetization and engagement metrics haven’t budged over the last two years, suggesting it may need to increase the efficacy of its platform
  3. Gross margin of 30.3% reflects its high servicing costs

At $87.32 per share, Wayfair trades at 21.4x forward EV/EBITDA. If you’re considering W for your portfolio, see our FREE research report to learn more.

Regeneron (REGN)

Trailing 12-Month Free Cash Flow Margin: 27.1%

Founded by scientists who wanted to build a company where science could thrive, Regeneron Pharmaceuticals (NASDAQ: REGN) develops and commercializes medicines for serious diseases, with key products treating eye conditions, allergic diseases, cancer, and other disorders.

Why Does REGN Worry Us?

  1. Annual sales growth of 5.9% over the last two years lagged behind its healthcare peers as its large revenue base made it difficult to generate incremental demand
  2. Expenses have increased as a percentage of revenue over the last five years as its adjusted operating margin fell by 21.4 percentage points
  3. Eroding returns on capital suggest its historical profit centers are aging

Regeneron’s stock price of $559.29 implies a valuation ratio of 15.4x forward P/E. To fully understand why you should be careful with REGN, check out our full research report (it’s free).

Corcept (CORT)

Trailing 12-Month Free Cash Flow Margin: 25.2%

Focusing on the powerful stress hormone that affects everything from metabolism to immune function, Corcept Therapeutics (NASDAQ: CORT) develops and markets medications that modulate cortisol to treat endocrine disorders, cancer, and neurological diseases.

Why Is CORT Not Exciting?

  1. Costs have risen faster than its revenue over the last five years, causing its adjusted operating margin to decline by 16.9 percentage points
  2. Performance over the past five years shows its incremental sales were much less profitable, as its earnings per share fell by 2.8% annually
  3. Shrinking returns on capital suggest that increasing competition is eating into the company’s profitability

Corcept is trading at $71.78 per share, or 41x forward P/E. Check out our free in-depth research report to learn more about why CORT doesn’t pass our bar.

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 6 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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