Based on the aggregated intelligence of 180,000-plus investors participating in Motley Fool CAPS, the Fool's free investing community, infrared technologist FLIR Systems (Nasdaq: FLIR) has earned a respected four-star ranking.

With that in mind, let's take a closer look at FLIR's business and see what CAPS investors are saying about the stock right now.

FLIR facts

Headquarters (founded) Wilsonville, Ore. (1978)
Market Cap $3.3 billion
Industry Electronic equipment and instruments
Trailing-12-Month Revenue $1.5 billion
Management Chairman/CEO Earl Lewis (since 2000)
CFO Anthony Trunzo (since 2010)
Return on Equity (average, past 3 years) 17.2%
Cash/Debt $448.2 million / $248.0 million
Dividend Yield 1.3%
Competitors Fluke Corp.
L-3 Communications
Lockheed Martin

Sources: S&P Capital IQ and Motley Fool CAPS.

On CAPS, 97% of the 820 members who have rated FLIR believe the stock will outperform the S&P 500 going forward.

Just last week, one of those Fools, All-Star tad40, tapped FLIR as a cheap way to go for growth:

[I]n the case of FLIR, you're not paying a huge multiple for the growth opportunities that will continue to surface as the technology becomes increasing attractive in commercial markets and in government systems around the globe (FLIR has only scratched the surface in the BRICs); on management's 2012 earnings estimate of $1.60 to $1.70 per diluted share, the company currently sells at a forward multiple of just 12-13x. ...

I think that the appropriate conclusion is that when taking a longer term view, this [valuation] fails to consider the company's growth prospects in the international government business, in addition to opportunities that will emerge on the industrial and commercial side as a result of increasingly affordable technology with real world applications. ...

I think that there is a strong case to be made for initiating a position in FLIR at the current valuation.

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