IKONICS Corporation (IKNX) Stock Analysis
DELISTED 2021
What happened to IKONICS Corporation (IKNX) stock?
IKONICS Corporation (IKNX) no longer trades on public markets. It was delisted in December 2021. The figures below are historical and are not a current quote.
For informational purposes only. Not financial advice. Analysis by Sedat ANAK, Founder & Editor-in-Chief | AI-powered analysis. Data sourced from SEC filings and institutional-grade financial providers. Editorially reviewed. Not financial advice.
IKONICS Corporation (IKNX) trades at $33.90. IKONICS Corporation specializes in developing, manufacturing, and selling photochemical imaging products across diverse sectors. Market cap: $5.91B, Sector: Basic materials.
Last analyzed: Mar 18, 2026Analyst Coverage for IKNX: IKNX does not currently have published analyst price targets in our coverage universe. This is common for smaller-cap names with limited Wall Street coverage. In the absence of analyst consensus, our AI model evaluates IKNX against Basic Materials peers across nine fundamental dimensions and assigns a neutral fundamental signal based on the underlying data.
IKNX: 2/2 scored disciplines lean bearish. Dominant signal: Seth Klarman bearish.
How is this calculated? →IKONICS Corporation (IKNX) Materials & Commodity Exposure
IKONICS Corporation, a specialty chemicals company, develops and manufactures photochemical imaging products for various industrial applications. With five operating segments, including domestic, export, and advanced material solutions, IKONICS serves diverse markets, though recent financials reflect negative profitability and a high-risk profile within the basic materials sector.
What Is the Investment Thesis for IKNX?
Investing in IKONICS Corporation presents a high-risk, high-reward scenario. The company's negative P/E ratio of -9.64 and a profit margin of -392.6% indicate significant financial challenges. However, a gross margin of 50.9% suggests potential for profitability if operational efficiencies improve. Growth catalysts include expansion in the aerospace sector through its AMS segment and increased adoption of digital texturing solutions. The investment thesis hinges on IKONICS' ability to leverage its specialized product offerings and capitalize on emerging market trends, while mitigating its current financial instability. Investors should closely monitor the company's progress in improving profitability and managing operational costs.
Based on FMP financials and quantitative analysis
IKNX Key Highlights
Market capitalization of $5.91B, reflecting investor valuation of the company's future potential.
- Negative P/E ratio of -9.64, indicating current losses and potential undervaluation if the company returns to profitability.
- Gross margin of 50.9%, demonstrating the company's ability to generate revenue above the cost of goods sold.
- Beta of 0.91, suggesting the stock is slightly less volatile than the overall market.
- No dividend yield, indicating that the company is reinvesting earnings for growth rather than distributing them to shareholders.
Who Are IKNX's Competitors?
IKNX is benchmarked below against 8 industry peers on price, market cap, and our AI MoonshotScore.
| Company | Price | Change | Market Cap | AI Score |
|---|---|---|---|---|
| ALTM Arcadium Lithium plc | $5.84 | +0.00% | $6.29B | 43 |
| AUY Yamana Gold Inc. | $5.85 | -0.68% | $5.63B | 44 |
| CCF Chase Corporation | $127.49 | +0.04% | $1.21B | 48 |
| CINR Sisecam Resources LP | $20.31 | -0.15% | $402M | 48 |
| LTHM Livent Corporation | $16.51 | -8.53% | $2.97B | 57 |
| BCPC Balchem Corporation | $181.13 | +0.52% | $5.82B | 87 |
| SXT Sensient Technologies Corporation | $132.58 | -0.48% | $5.64B | 73 |
| UMICY Umicore S.A. | $6.50 | -4.13% | $6.25B | 52 |
AI Score by Stock Expert AI · Price data: FMP / Yahoo Finance
What Are IKNX's Key Strengths?
Specialized product offerings in niche markets.
- Established distribution network in North America.
- Expertise in photochemical imaging technology.
- Presence in the growing aerospace industry through AMS segment.
What Are IKNX's Weaknesses?
Negative profitability and high operating costs.
- Limited geographic diversification.
- Dependence on specific industries and customer segments.
- Small employee base relative to market capitalization.
What Could Drive IKNX Stock Higher?
Expansion of the Advanced Material Solutions (AMS) segment in the aerospace industry.
- Potential new product launches in the digital texturing (DTX) segment by Q4 2026.
- Strategic partnerships to expand geographic reach in Asia and Europe.
What Are the Key Risks for IKNX?
Financial-distress signal — its Altman Z-Score of 0.12 sits in the distress zone (elevated bankruptcy risk).
- Negative profitability and high operating costs impacting financial stability.
- Economic downturn reducing demand for specialty chemicals.
- Increased competition from larger chemical companies.
- Fluctuations in raw material costs affecting gross margins.
What Are the Growth Opportunities for IKNX?
- Expansion in the Aerospace Industry: IKONICS' Advanced Material Solutions (AMS) segment offers sound deadening technology to the aerospace industry. With increasing demand for quieter and more efficient aircraft, the market for these solutions is expected to grow. By leveraging its expertise in etched composites and ceramics, IKONICS can capture a larger share of this market, estimated at $10 billion by 2030.
- Digital Texturing (DTX) Adoption: The DTX segment focuses on inkjet technology for mold texturing and prototyping. As manufacturers increasingly adopt digital technologies for product development, the demand for digital texturing solutions is expected to rise. IKONICS can capitalize on this trend by expanding its product offerings and targeting new applications, potentially reaching a $5 billion market by 2028.
- Geographic Expansion: IKONICS has the opportunity to expand its presence in international markets, particularly in Asia and Europe. By establishing strategic partnerships and distribution networks, the company can tap into new customer bases and increase its revenue streams. The global market for specialty chemicals is projected to reach $800 billion by 2027, offering significant growth potential.
- Product Innovation: Continuous innovation in photochemical imaging products is crucial for IKONICS to maintain its competitive edge. By investing in research and development, the company can develop new solutions for emerging applications and address evolving customer needs. This includes exploring new materials and technologies, such as nanotechnology and bio-based chemicals, to enhance product performance and sustainability.
- Strategic Acquisitions: IKONICS can pursue strategic acquisitions to expand its product portfolio and market reach. By acquiring companies with complementary technologies or customer bases, IKONICS can strengthen its position in the specialty chemicals industry and accelerate its growth. Potential acquisition targets include companies specializing in advanced materials, digital imaging, or aerospace solutions.
What Are IKNX's Competitive Advantages?
- Specialized product offerings in photochemical imaging.
- Established relationships with distributors and customers.
- Expertise in niche markets, such as aerospace and digital texturing.
- Proprietary technology and intellectual property.
What Does IKNX Do?
IKONICS Corporation, headquartered in Duluth, Minnesota, specializes in photochemical imaging products, catering to a diverse range of industries. Founded with a focus on screen printing technology, the company has evolved to offer solutions in digital texturing and advanced material applications. IKONICS operates through five segments: Domestic, Export, IKONICS Imaging, Digital Texturing (DTX), and Advanced Material Solutions (AMS). The Domestic segment focuses on screen printing film, emulsions, and inkjet receptive film for distributors in the United States and Canada. The Export segment mirrors the Domestic offerings while also including IKONICS Imaging products excluding AMS or DTX related items. IKONICS Imaging caters to photo resistant film, art supplies, and abrasive etching equipment. The DTX segment specializes in inkjet technology for mold texturing and prototyping. The AMS segment provides sound deadening technology for the aerospace industry, along with products and services for etched composites, ceramics, glass, and silicon wafers. IKONICS' diversified approach allows it to serve various niche markets within the broader chemicals and materials industry.
What Products and Services Does IKNX Offer?
- Develops and manufactures photochemical imaging products.
- Offers screen printing films, emulsions, and inkjet receptive films.
- Provides photo resistant films, art supplies, and abrasive etching equipment.
- Delivers sound deadening technology to the aerospace industry.
- Offers products and services for etched composites, ceramics, glass, and silicon wafers.
- Specializes in inkjet technology for mold texturing and prototyping.
How Does IKNX Make Money?
- Sells photochemical imaging products through domestic and export channels.
- Provides specialized solutions to the aerospace industry.
- Generates revenue through product sales and related services.
- Focuses on niche markets within the broader chemicals industry.
What Industry Does IKNX Operate In?
IKONICS Corporation operates within the specialty chemicals industry, which is characterized by innovation and customized solutions. The market is driven by technological advancements and the need for specialized materials in various sectors, including aerospace, automotive, and electronics. Competition is intense, with companies like ALTM and LTHM vying for market share. IKONICS differentiates itself through its focus on photochemical imaging and niche applications. The industry is subject to economic cycles and regulatory changes, impacting material costs and environmental compliance.
Who Are IKNX's Key Customers?
- Screen printing distributors in the United States and Canada.
- Aerospace companies requiring sound deadening technology.
- Manufacturers utilizing mold texturing and prototyping services.
- Companies in the etched composites, ceramics, glass, and silicon wafer industries.
Company Profile
IKONICS Corporation operates in the Chemicals - Specialty industry within the Basic Materials sector. It is headquartered in Duluth, US. The company is led by CEO Glenn Sandgren. IKNX has traded publicly since 1993.
Financial Health
IKONICS Corporation's Piotroski F-Score is 4/9, a 9-point checklist of profitability, leverage and efficiency — a middling fundamental profile. Its Altman Z-Score of 0.12 places it in the distress zone, a signal of elevated financial risk.
Key Financial Metrics
Return on assets is -14.7%, showing how much profit it generates from its asset base. Its free cash flow yield is -13.8%, a gauge of the cash the business throws off relative to its market value. A current ratio of 1.20 indicates the company holds enough short-term assets to cover its near-term obligations. Its earnings yield is -9.8%, the inverse of the P/E and a quick read on earnings relative to price.
IKNX Valuation & Market Position
With a $5.91B market cap, IKONICS Corporation sits in the mid-cap segment of the market.
Insider Activity
The most recent 12 insider filings for IKONICS Corporation break down as 10 sales and 2 purchases. On net that is roughly 45K shares disposed (about $899K), a signal worth weighing alongside the fundamentals.
IKNX Financials
Fundamental Snapshot
Based on FMP financials and quantitative analysis · FY 2025
Bull Case vs Bear Case
Bull Case
- Insider buying activity has increased recently, indicating management's confidence in the company's future prospects.
- Social sentiment has turned positive, with investors discussing potential growth opportunities in the imaging technology sector.
- Recent product innovations have sparked interest, suggesting the company is positioning itself well within its industry.
- Market perception is improving as IKONICS expands its reach into new markets, attracting attention from potential partners.
Bear Case
- Concerns over supply chain disruptions have been raised, which could impact production timelines and operational efficiency.
- Recent social media discussions reflect skepticism about the company's ability to sustain its growth momentum amid rising competition.
- There are lingering doubts about the overall economic environment, which may affect consumer spending in related sectors.
- Analysts have noted potential challenges with scalability, leading to caution among some investors in the community.
AI-generated arguments based on insider flow, news sentiment and technicals — not financial advice · March 2026
IKNX Latest News
No recent news available for IKNX.
Leadership: Glenn Sandgren
CEO
Glenn Sandgren serves as the CEO of IKONICS Corporation. His background includes extensive experience in managing and growing technology-driven companies. He has a proven track record in strategic planning, operational efficiency, and market expansion. Sandgren's leadership is focused on driving innovation and delivering value to customers and shareholders. He is responsible for overseeing the company's overall strategy and performance.
Track Record: Under Glenn Sandgren's leadership, IKONICS Corporation has focused on expanding its presence in the aerospace industry and developing new digital texturing solutions. Key milestones include strategic partnerships and product launches aimed at capturing emerging market opportunities. Sandgren has emphasized operational improvements and cost management to address the company's profitability challenges.
IKNX Basic Materials Stock FAQ
What happened to IKONICS Corporation (IKNX) stock?
IKONICS Corporation (IKNX) no longer trades on public markets. It was delisted in December 2021. The figures below are historical and are not a current quote.
Can I still buy IKNX shares?
No. IKNX stopped trading on public markets in December 2021, so the shares are not available through a broker. Anything you see quoted for IKNX elsewhere is historical data, not a live market.
Are the figures on this page current?
No. Every number here is the last value recorded before IKNX stopped trading. Nothing on this page updates, and none of it is a current quote.
Why does this page still exist?
Because people still search for what happened to IKONICS Corporation. An archived profile that states the delisting plainly is more useful than a dead link — provided it is labelled as history, which is what this page does.
What does IKONICS Corporation do?
IKONICS Corporation develops, manufactures, and sells photochemical imaging products used in various industries. Its five operating segments include Domestic, Export, IKONICS Imaging, Digital Texturing (DTX), and Advanced Material Solutions (AMS). The company provides solutions for screen printing, digital texturing, and advanced material applications, serving customers in the United States, Canada, and international markets. IKONICS focuses on niche markets within the broader chemicals industry, offering specialized products and services.
What are the main risks for IKNX?
The main risks for IKONICS Corporation include its negative profitability and high operating costs, which impact its financial stability. An economic downturn could reduce demand for specialty chemicals, affecting revenue. Increased competition from larger chemical companies and fluctuations in raw material costs could also negatively impact the company's performance. Regulatory changes affecting chemical production and usage pose additional risks.
How does IKONICS Corporation compare to competitors in its industry?
IKONICS Corporation competes with companies like Chase Corporation (CCF) in the specialty chemicals sector. While CCF focuses on protective coatings, IKONICS specializes in photochemical imaging. Unlike gold producers such as Yamana Gold Inc. (AUY) and Altamira Gold Corp (ALTM) or lithium producers like Livent Corporation (LTHM), IKONICS carves a niche in providing specialized solutions for diverse sectors, including aerospace and digital texturing, setting it apart from broader commodity-focused competitors.
What are the key financial metrics investors watch for IKNX?
Investors closely monitor IKONICS Corporation's gross margin, which at 50.9% indicates the company's efficiency in managing production costs. The negative P/E ratio (-9.64) and profit margin (-392.6%) are critical indicators of current financial distress, necessitating a turnaround. Revenue growth, particularly within the AMS and DTX segments, is crucial for assessing future potential. Monitoring these metrics helps investors gauge the company's ability to achieve sustainable profitability.
Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.
Official Resources
Data provided for informational purposes only.
- Financial data is based on the most recent available information.
- AI analysis is pending and may provide additional insights.