Built from weaker models, sales multiples or analyst targets, so treat it as a rough guide.
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Valued as a loss-making company: Sales comps and Analyst consensus.
ACCE opinionGlaukos Corporation Common Stock (GKOS)
Fair value
Not available
ACCE price target
$136
Rating
Not rated
Horizon
12 months
ACCE price target published on 10 Oct 2026, 00:00 CEST.
Price used: $179 at the close on 23 Oct 2026, 22:00 CEST.
Models: Analyst consensus and Sales comps.
Fair value: the average of the applicable valuation models (discounted cash flow, multiples, residual income, dividend discount, shareholder yield), each run on the latest financial statements and the market price shown. Opinion columns (fair value, target, rating) are shown apart from the data. Full methodology: acceinvestments.com/data/how-we-value-stocks
Conflicts of interest: The author holds no personal position in this security. General statement
Produced by ACCE Investments (acceinvestments.com)
Data
ACCE score
64
out of 100
Analysts
93% buy
14 covering
P/E
0.0x
forward 1666.7x
1-year return
+137.7%
Dividend yield
0.00%
Glaukos Corporation Common Stock in four questions
Plain answers, details below
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Overview
ACCE thesis
Glaukos makes the iStent family of micro-invasive glaucoma stents, which are implanted during cataract surgery, along with the Epioxa corneal cross-linking treatment for keratoconus. The moat rests on a 79% gross margin and a surgeon-facing franchise built over more than a decade, with the iStent line sold into a glaucoma market where drops and laser remain the default first steps. Revenue growth of 49.5% is the headline, but the operating margin is still negative at -8.5% and return on equity sits at -26%, so the story depends on operating leverage arriving as the top line scales. At a roughly $9.8 billion market cap, the name is priced for that transition, and the forward P/E of about 1,667x reflects earnings that barely exist yet, which makes the next few quarters of margin progression the thing to test before going further.
⚠ Investor warnings · 3 flagsAI-assisted·How I use AI
high
Free cash flow negative
Free cash flow is $-54.0M while the operating margin is -8.5% and net margin -30.7%. The business is burning cash despite 49.5% revenue growth, so growth is not yet self-funding.
moderate
Trades above ACCE target
At $164.84 the stock sits 31.5% above the ACCE price target of $136.00. The valuation already assumes more than our target does.
moderate
Elevated short interest
Short interest is 7.9% of the float, with no insider buying and $4.97M of insider sales in the last 10 disclosed transactions.
AI research notes
AI-assisted·How I use AIWritten Oct 18, 2026 · figures from 2026-06-30 · prices to Oct 23, 2026
Why it could do well
Revenue grew 49.5% year over year, far ahead of its 17.7% average annual pace over five years.
Thirteen of 14 analysts rate the stock Buy or Strong Buy, and their mean price target sits 20.9% above the current price.
The company beat its latest earnings estimate, reporting a loss of $0.14 per share against an expected $0.28 loss.
Why it could disappoint
The company still loses money, with a net margin of -30.7% and free cash flow of -$54M over the last twelve months.
The forward P/E of 1666.7x leaves almost no room for error if profits take years to arrive.
Shareholders were diluted, with the diluted share count rising 8.4% last fiscal year.
Each chip shows the exact figure and where it comes from. A claim without a source is not published.
Next results
Oct 28, 2026
We update the fair value about 2 days after the results, once the new figures are filed.Add to calendarGoogle
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Valuation
INVESTOR
Where GKOS's valuation models land
Price
$178.88
Model fair valueConfidence: low
about $127
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Upside
Analyst consensus
Sales comps
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Quality
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