M-tron Industries, Inc.
MPTI NYSE Electronic Components, Nec Financials FY2021–FY2025
Last close · Oct 23, 2026
$65.21
0.8%
Revenue
Total sales reported in the income statement.
$54.4M
11.0%
vs prior year
Operating margin
Operating income as a share of revenue.
18.9%
0.3 pts
Net income
Profit after all expenses, interest and tax.
$8.4M
10.6%
Free cash flow
Cash from operations minus capital spending.
$8.1M
44.2%
Return on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
—
Market cap
Last close times the latest diluted share count, so it is approximate.
$283M
Oct 23 close
P/E
Last close divided by diluted earnings per share over the last four quarters.
24.0x
On $2.72 EPS (TTM)
What M-tron Industries, Inc. does
No business description yet.
- Legal name
- M-tron Industries, Inc.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Mar 26, 2026
- Accession · CIK
- 0001437749-26-009844
0001902314
Revenue and margins
M-tron Industries, Inc. had $54.4M of revenue in fiscal 2025, up 11.0% on the year before.
FY21
Revenue $26.7M
FY22
Revenue $31.8M
FY23
Revenue $41.2M
FY24
Revenue $49.0M
FY25
Revenue $54.4M
Q3 '23
Revenue $10.9M
Q4 '23
Revenue $10.8M
Q1 '24
Revenue $11.2M
Q2 '24
Revenue $11.8M
Q3 '24
Revenue $13.2M
Q4 '24
Revenue $12.8M
Q1 '25
Revenue $12.7M
Q2 '25
Revenue $13.3M
Q3 '25
Revenue $14.2M
Q4 '25
Revenue $14.2M
Q1 '26
Revenue $14.7M
Q2 '26
Revenue $15.1M
FY21
Gross —
Operating 7.9%
Net 5.9%
FCF 7.0%
FY22
Gross —
Operating 9.0%
Net 5.6%
FCF 3.5%
FY23
Gross —
Operating 10.4%
Net 8.5%
FCF 7.6%
FY24
Gross —
Operating 19.2%
Net 15.6%
FCF 11.5%
FY25
Gross —
Operating 18.9%
Net 15.5%
FCF 14.9%
Gross
Operating
Net
FCF
Q3 '23
Gross —
Operating 18.7%
Net 14.6%
FCF 11.3%
Q4 '23
Gross —
Operating −0.6%
Net 0.7%
FCF 13.1%
Q1 '24
Gross —
Operating 16.0%
Net 13.3%
FCF 12.3%
Q2 '24
Gross —
Operating 17.8%
Net 14.8%
FCF 9.2%
Q3 '24
Gross —
Operating 22.1%
Net 17.2%
FCF 13.4%
Q4 '24
Gross —
Operating 20.1%
Net 16.7%
FCF 10.8%
Q1 '25
Gross —
Operating 15.8%
Net 12.8%
FCF 8.0%
Q2 '25
Gross —
Operating 13.9%
Net 11.7%
FCF 15.4%
Q3 '25
Gross —
Operating 18.0%
Net 12.9%
FCF 19.1%
Q4 '25
Gross —
Operating 27.3%
Net 24.1%
FCF 16.4%
Q1 '26
Gross —
Operating 17.8%
Net 16.3%
FCF 11.3%
Q2 '26
Gross —
Operating 11.4%
Net 12.4%
FCF 18.3%
Gross
Operating
Net
FCF
Net income and earnings per share
From fiscal 2021 to 2025, diluted EPS grew 45.2% a year. Loss periods are shown in red.
FY21
Net income $1.6M
FY22
Net income $1.8M
FY23
Net income $3.5M
FY24
Net income $7.6M
FY25
Net income $8.4M
Q3 '23
Net income $1.6M
Q4 '23
Net income $0.1M
Q1 '24
Net income $1.5M
Q2 '24
Net income $1.7M
Q3 '24
Net income $2.3M
Q4 '24
Net income $2.1M
Q1 '25
Net income $1.6M
Q2 '25
Net income $1.6M
Q3 '25
Net income $1.8M
Q4 '25
Net income $3.4M
Q1 '26
Net income $2.4M
Q2 '26
Net income $1.9M
FY21
Diluted EPS $0.59
FY22
Diluted EPS $0.67
FY23
Diluted EPS $1.28
FY24
Diluted EPS $2.65
FY25
Diluted EPS $2.62
Q3 '23
Diluted EPS $0.57
Q4 '23
Diluted EPS $0.03
Q1 '24
Diluted EPS $0.53
Q2 '24
Diluted EPS $0.63
Q3 '24
Diluted EPS $0.81
Q4 '24
Diluted EPS $0.73
Q1 '25
Diluted EPS $0.56
Q2 '25
Diluted EPS $0.53
Q3 '25
Diluted EPS $0.63
Q4 '25
Diluted EPS $0.99
Q1 '26
Diluted EPS $0.67
Q2 '26
Diluted EPS $0.43
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
FY21
Return on capital 11.0%
Return on equity 9.4%
Return on assets 7.9%
FY22
Return on capital 14.8%
Return on equity 11.5%
Return on assets 9.2%
FY23
Return on capital —
Return on equity 20.4%
Return on assets 16.0%
FY24
Return on capital —
Return on equity 29.8%
Return on assets 25.1%
FY25
Return on capital —
Return on equity 17.9%
Return on assets 16.1%
Return on capital
Return on equity
Return on assets
Cash flow
Free cash flow was $8.1M in fiscal 2025, 14.9% of revenue. Cash from operations minus capital spending.
FY21
Free cash flow $1.9M
FY22
Free cash flow $1.1M
FY23
Free cash flow $3.1M
FY24
Free cash flow $5.6M
FY25
Free cash flow $8.1M
Q3 '23
Free cash flow $1.2M
Q4 '23
Free cash flow $1.4M
Q1 '24
Free cash flow $1.4M
Q2 '24
Free cash flow $1.1M
Q3 '24
Free cash flow $1.8M
Q4 '24
Free cash flow $1.4M
Q1 '25
Free cash flow $1.0M
Q2 '25
Free cash flow $2.0M
Q3 '25
Free cash flow $2.7M
Q4 '25
Free cash flow $2.3M
Q1 '26
Free cash flow $1.7M
Q2 '26
Free cash flow $2.8M
FY21
Cash from operations $3.0M
Capital spending $1.1M
FY22
Cash from operations $2.0M
Capital spending $0.9M
FY23
Cash from operations $4.4M
Capital spending $1.3M
FY24
Cash from operations $7.5M
Capital spending $1.9M
FY25
Cash from operations $10.7M
Capital spending $2.6M
Cash from operations
Capital spending
Q3 '23
Cash from operations $1.5M
Capital spending $0.3M
Q4 '23
Cash from operations $2.1M
Capital spending $0.7M
Q1 '24
Cash from operations $1.5M
Capital spending $0.1M
Q2 '24
Cash from operations $2.0M
Capital spending $0.9M
Q3 '24
Cash from operations $2.3M
Capital spending $0.5M
Q4 '24
Cash from operations $1.8M
Capital spending $0.4M
Q1 '25
Cash from operations $1.6M
Capital spending $0.6M
Q2 '25
Cash from operations $2.9M
Capital spending $0.8M
Q3 '25
Cash from operations $3.5M
Capital spending $0.8M
Q4 '25
Cash from operations $2.7M
Capital spending $0.3M
Q1 '26
Cash from operations $2.1M
Capital spending $0.5M
Q2 '26
Cash from operations $3.7M
Capital spending $0.9M
Cash from operations
Capital spending
Dividends, buybacks and share count
M-tron Industries, Inc. returned — to shareholders in fiscal 2025. The diluted share count rose 11.9%.
FY21
Dividends —
Buybacks —
FY22
Dividends —
Buybacks —
FY23
Dividends —
Buybacks —
FY24
Dividends —
Buybacks —
FY25
Dividends —
Buybacks —
Dividends
Buybacks
FY21
Diluted shares 0.00B
FY22
Diluted shares 0.00B
FY23
Diluted shares 0.00B
FY24
Diluted shares 0.00B
FY25
Diluted shares 0.00B
Balance sheet
Cash, debt and the ratios that show how comfortably M-tron Industries, Inc. can carry it.
FY21
Cash $2.6M
Debt $0.1M
FY22
Cash $0.9M
Debt $0.1M
FY23
Cash $3.9M
Debt —
FY24
Cash $12.6M
Debt —
FY25
Cash $20.9M
Debt —
Cash
Debt
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $2.6M | $0.9M | $3.9M | $12.6M | $20.9M |
| Debt incl. finance leases | $0.1M | $0.1M | — | — | — |
| Net debt / EBITDA | −1.0x | −0.2x | — | — | — |
| Debt / equity | 0.0x | 0.0x | — | — | — |
| Current ratio | 4.0x | 2.9x | 4.1x | 5.7x | 12.5x |
| Quick ratio | 2.3x | 1.4x | 2.1x | 3.9x | 10.5x |
| Total assets | $20.0M | $19.3M | $24.3M | $36.6M | $68.4M |
| Total liabilities | $3.2M | $4.9M | $4.4M | $5.3M | $5.2M |
| Shareholders' equity | $16.8M | $14.3M | $19.9M | $31.3M | $63.2M |
| Net debt (− = net cash) | −$2.5M | −$0.9M | — | — | — |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. “Plan” marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
—
$0.0M
No open-market insider trades in the last 12 months.
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.
| Test | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Net income is positive | ✓ | ✓ | ✓ | ✓ | ✓ |
| Cash from operations is positive | ✓ | ✓ | ✓ | ✓ | ✓ |
| Return on assets rose | — | ✓ | ✓ | ✓ | ✕ |
| Cash from operations exceeds net income | ✓ | ✓ | ✓ | ✕ | ✓ |
| Debt fell relative to assets | — | ✓ | — | — | — |
| Current ratio rose | — | ✕ | ✓ | ✓ | ✓ |
| Share count didn't rise | — | ✓ | ✕ | ✕ | ✕ |
| Gross margin rose | — | — | — | — | — |
| Revenue rose relative to assets | — | ✓ | ✓ | ✕ | ✕ |
| F-score | — / 3 | 7 / 8 | 6 / 7 | 4 / 7 | 4 / 7 |
| Accruals ratio | −6.9% | −1.2% | −4.2% | 0.4% | −4.2% |
| Altman Z'' | — | 7.31 | 10.15 | 13.35 | 20.20 |
5 years of figures
Amounts in USD. Hover a ratio’s name for its definition.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Income statement | |||||
| Revenue | $26.7M | $31.8M | $41.2M | $49.0M | $54.4M |
| Net interest income | −$0.0M | −$0.0M | $0.0M | $0.2M | $0.5M |
| Research and development | $2.0M | $2.0M | $2.2M | $2.8M | $3.2M |
| Operating income | $2.1M | $2.9M | $4.3M | $9.4M | $10.3M |
| Pretax income | $2.1M | $2.6M | $4.4M | $9.8M | $11.0M |
| Income tax | $0.5M | $0.8M | $0.9M | $2.1M | $2.5M |
| Net income | $1.6M | $1.8M | $3.5M | $7.6M | $8.4M |
| Diluted EPS | $0.59 | $0.67 | $1.28 | $2.65 | $2.62 |
| Diluted shares | 0.00B | 0.00B | 0.00B | 0.00B | 0.00B |
| Cash flow | |||||
| Cash from operations | $3.0M | $2.0M | $4.4M | $7.5M | $10.7M |
| Capital expenditure | $1.1M | $0.9M | $1.3M | $1.9M | $2.6M |
| Free cash flow | $1.9M | $1.1M | $3.1M | $5.6M | $8.1M |
| Depreciation and amortization | $0.5M | $0.7M | $0.8M | $1.0M | $1.1M |
| Stock-based compensation | $0.3M | $0.5M | $2.4M | $0.6M | $1.1M |
| Balance sheet | |||||
| Cash and short-term investments | $2.6M | $0.9M | $3.9M | $12.6M | $20.9M |
| Total debt | $0.1M | $0.1M | — | — | — |
| Current assets | $12.1M | $14.3M | $18.2M | $29.8M | $61.2M |
| Current liabilities | $3.0M | $4.9M | $4.4M | $5.2M | $4.9M |
| Inventory | $5.2M | $7.5M | $8.9M | $9.5M | $9.7M |
| Property and equipment, net | $3.4M | $3.6M | $4.1M | $5.1M | $6.5M |
| Goodwill | $0.0M | $0.0M | $0.0M | — | — |
| Intangible assets | $0.1M | $0.1M | $0.0M | $0.0M | $0.0M |
| Total assets | $20.0M | $19.3M | $24.3M | $36.6M | $68.4M |
| Total liabilities | $3.2M | $4.9M | $4.4M | $5.3M | $5.2M |
| Preferred stock | — | $0.0M | $0.0M | $0.0M | $0.0M |
| Shareholders' equity | $16.8M | $14.3M | $19.9M | $31.3M | $63.2M |
| Margins | |||||
| Operating margin | 7.9% | 9.0% | 10.4% | 19.2% | 18.9% |
| EBITDA margin | 9.7% | 11.1% | 12.4% | 21.1% | 20.9% |
| Net margin | 5.9% | 5.6% | 8.5% | 15.6% | 15.5% |
| FCF margin | 7.0% | 3.5% | 7.6% | 11.5% | 14.9% |
| Net interest share of revenue | −0.0% | −0.0% | 0.0% | 0.5% | 1.0% |
| Returns | |||||
| Return on capital | 11.0% | 14.8% | — | — | — |
| Return on capital employed | 12.4% | 19.9% | 21.6% | 30.0% | 16.2% |
| Return on equity | 9.4% | 11.5% | 20.4% | 29.8% | 17.9% |
| Return on assets | 7.9% | 9.2% | 16.0% | 25.1% | 16.1% |
| Return on tangible equity | 9.5% | 12.7% | 17.6% | 24.4% | 13.4% |
| Growth | |||||
| Revenue growth | — | 19.3% | 29.3% | 19.1% | 11.0% |
| Net income growth | — | 13.7% | 94.0% | 118.9% | 10.6% |
| EPS growth | — | 13.6% | 91.0% | 107.0% | −1.1% |
| FCF growth | — | −40.6% | 182.5% | 80.0% | 44.2% |
| Share count change | — | 0.0% | 2.1% | 5.5% | 11.9% |
| Financial health | |||||
| Net debt / EBITDA | −1.0x | −0.2x | — | — | — |
| Debt / equity | 0.0x | 0.0x | — | — | — |
| Current ratio | 4.0x | 2.9x | 4.1x | 5.7x | 12.5x |
| Quick ratio | 2.3x | 1.4x | 2.1x | 3.9x | 10.5x |
| Capital allocation | |||||
| Capex / revenue | 4.1% | 2.9% | 3.1% | 3.9% | 4.7% |
| Stock comp / revenue | 1.1% | 1.4% | 5.9% | 1.3% | 2.0% |
| Quality scores | |||||
| Piotroski F-score | — | 7.0 | 6.0 | 4.0 | 4.0 |
| Altman Z'' | — | 7.3 | 10.1 | 13.3 | 20.2 |
| Accruals ratio | −6.9% | −1.2% | −4.2% | 0.4% | −4.2% |
Source: SEC EDGAR XBRL filings (CIK 0001902314). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.