Nortech Systems Incorporated (NSYS) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q4 22	—	$0.53	—	—	—	—
Q3 22	—	$0.25	—	—	—	—
Q2 22	—	$0.04	—	—	—	—
Q1 22	—	-$0.34	—	—	—	—
Q4 21	—	$1.24	—	—	—	—
Q3 21	—	$0.04	—	—	—	—
Q2 21	—	-$0.5	—	—	—	—
Q1 21	—	-$0.43	—	—	—	—
Q4 20	—	-$0.35	—	—	—	—
Q3 20	—	-$0.05	—	—	—	—
Q2 20	—	$0.05	—	—	—	—
Q1 20	—	$0.1	—	—	—	—
Q4 19	—	$0.16	—	—	—	—
Q3 19	—	-$0.58	—	—	—	—
Q2 19	—	-$0.14	—	—	—	—
Q1 19	—	-$0.07	—	—	$28.2M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	-$0.09	—	—	$118.4M	—
FY24	—	-$0.47	—	—	$128.1M	—
FY23	—	$2.53	—	—	$139.3M	—
FY22	—	$0.75	—	—	$134.1M	—
FY21

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$116.6M	$112.3M	$113.4M	$116.3M	$104.1M	$115.2M	$134.1M	$139.3M	$128.1M	$118.4M
YoY change	+1.24%	-3.68%	+0.92%	+2.61%	-10.5%	+10.6%	+16.5%	+3.88%	-8.04%	-7.62%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	116.6M	112.3M	113.4M	116.3M	104.1M	115.2M	134.1M	139.3M	128.1M	118.4M
Cost of revenue	102.8M	100.2M	100.1M	103.8M	94.4M	99.3M	113.6M	116.2M	111.4M	100.4M
Gross profit	13.8M	12.1M	13.3M	12.6M	9.7M	15.9M	20.5M	23.1M	16.7M	18M
Gross margin	11.9%	10.8%	11.7%	10.8%	9.28%	13.8%	15.3%	16.6%	13.1%	15.2%
Research & development	—	—	—	—	0	483K	1.5M	1.2M	1.2M	1.2M
Selling, general & administrative	13.2M	12.8M	12.1M	12.4M	11.7M	12.4M	15.1M	16M	15.2M	15.6M
Operating expenses	13.2M	12.8M	12.1M	12.4M	11.7M	12.8M	16.6M	17.2M	16.3M	16.8M
Operating income	631.5K	-715K	1.2M	224K	-2.1M	3M	3.9M	6M	376K	1.2M
Operating margin	0.54%	-0.64%	1.1%	0.19%	-1.98%	2.62%	2.89%	4.27%	0.29%	1.05%
Non-operating income, net	-2.5K	-728K	—	—	1.4M	5.4M	15K	—	-571K	-266K
Pretax income	78.8K	-2.1M	492K	-819K	-1.2M	8M	3.5M	5.5M	-939K	11K
Income tax	35K	375K	326K	409K	310K	859K	1.5M	-1.4M	356K	263K
Net income	43.8K	-2.4M	166K	-1.2M	-1.5M	7.2M	2M	6.9M	-1.3M	-252K
Net margin	0.04%	-2.18%	0.15%	-1.06%	-1.49%	6.21%	1.5%	4.93%	-1.01%	-0.21%
EBITDA	2.9M	1.8M	3.4M	2.4M	131K	5M	5.8M	8M	2.1M	2.5M
EPS	0.02	-0.89	0.06	-0.46	-0.58	2.68	0.75	2.53	-0.47	-0.09
Diluted EPS	0.02	-0.89	0.06	-0.46	-0.58	2.54	0.7	2.38	-0.47	-0.09

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	33.4M	36.1M	34.2M	33.9M	31.4M	28.6M	26.9M	30.7M	30.5M	30.3M	30.3M	33.5M
Cost of revenue	28.1M	29.2M	28.8M	29.3M	27.6M	25.8M	23.8M	25.8M	25.5M	25.2M	25.6M	27.8M
Gross profit	5.3M	6.8M	5.4M	4.6M	3.8M	2.8M	3.1M	4.8M	5M	5.1M	4.7M	5.7M
Gross margin	15.9%	18.9%	15.9%	13.6%	12.2%	9.86%	11.4%	15.8%	16.5%	16.7%	15.5%	17%
Research & development	314K	292K	318K	291K	284K	298K	326K	302K	266K	278K	310K	346K
Selling, general & administrative	3.9M	3.9M	4M	3.9M	3.8M	3.4M	4.1M	3.8M	3.8M	3.9M	4.3M	4.7M
Operating expenses	4.2M	4.2M	4.3M	4.2M	4.1M	3.7M	4.4M	4.1M	4.1M	4.2M	4.7M	5.1M
Operating income	1.1M	2.7M	1.2M	435K	-291K	-923K	-1.3M	742K	945K	901K	47K	623K
Operating margin	3.37%	7.42%	3.38%	1.28%	-0.93%	-3.23%	-5.01%	2.42%	3.1%	2.97%	0.16%	1.86%
Non-operating income, net	—	—	—	-91K	-176K	-304K	-266K	—	—	0	—	—
Pretax income	994K	2.6M	988K	179K	-683K	-1.4M	-1.8M	485K	672K	681K	-209K	426K
Income tax	-213K	-1.8M	223K	22K	56K	55K	-511K	172K	818K	-216K	-175K	110K
Net income	1.2M	4.4M	765K	157K	-739K	-1.5M	-1.3M	313K	-146K	897K	-34K	316K
Net margin	3.62%	12.1%	2.24%	0.46%	-2.35%	-5.16%	-4.89%	1.02%	-0.48%	2.96%	-0.11%	0.94%
EBITDA	1.6M	3.2M	1.6M	919K	143K	-585K	-1M	1.1M	1.3M	1.2M	350K	938K
EPS	0.44	—	0.28	0.06	-0.27	-0.54	-0.48	0.12	-0.05	0.32	-0.01	0.11
Diluted EPS	0.42	—	0.26	0.05	-0.27	-0.54	-0.48	0.12	-0.05	0.31	-0.01	0.11

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	10.7M	10.6M	9.6M	12.9M	19.1M	27.6M	32.9M	25.6M	28.3M	20.6M	31.4M
Enterprise value	24.2M	25.5M	24.1M	33.5M	40.5M	47.1M	48.4M	38.9M	45.5M	34.7M	48.9M
Shares outstanding	2.7M	2.7M	2.7M	2.7M	2.7M	2.7M	2.7M	2.7M	2.8M	2.8M	2.8M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	244.2	—	57.7	—	—	3.85	16.4	3.73	—	—	31.3
P/S	0.09	0.09	0.08	0.11	0.18	0.24	0.25	0.18	0.22	0.17	0.26
P/B	0.48	0.53	0.45	0.65	1.02	1.06	1.17	0.73	0.83	0.6	0.91
EV/EBITDA	8.26	14.3	7	13.7	309.2	9.49	8.35	4.86	21.5	13.7	13.1
EV/Sales	0.21	0.23	0.21	0.29	0.39	0.41	0.36	0.28	0.35	0.29	0.39
Earnings yield	0.41%	—	1.73%	—	—	25.9%	6.11%	26.8%	—	—	3.19%
FCF yield	14.8%	-1.14%	10.9%	1.85%	4.43%	-21.4%	9%	1.89%	-12.4%	10.1%	9.68%
PEG	—	—	—	—	—	—	—	—	—	—	-3.76

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	11.9%	10.8%	11.7%	10.8%	9.28%	13.8%	15.3%	16.6%	13.1%	15.2%	17%
Operating margin	0.54%	-0.64%	1.1%	0.19%	-1.98%	2.62%	2.89%	4.27%	0.29%	1.05%	1.86%
Net margin	0.04%	-2.18%	0.15%	-1.06%	-1.49%	6.21%	1.5%	4.93%	-1.01%	-0.21%	0.83%
ROE	0.2%	-12.3%	0.79%	-6.15%	-8.26%	27.4%	7.16%	19.4%	-3.81%	-0.73%	3%
ROA	0.08%	-4.7%	0.28%	-2%	-2.68%	10.7%	2.89%	9.15%	-1.79%	-0.35%	2.03%
ROIC	0.98%	-2.06%	1.18%	0.55%	-5.14%	5.9%	5.14%	12.3%	0.74%	0%	3.18%
Return on tangible assets	0.1%	-5.58%	0.32%	-2.28%	-2.8%	10.8%	2.93%	9.21%	-1.8%	-0.35%	1.3%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	1.94	2.09	1.84	1.95	2.1	2.32	2.08	2.21	2.58	1.88	1.78
Quick ratio	0.93	1.07	1.16	1.3	1.39	1.45	1.23	1.4	1.57	1.19	1.1
Debt / equity	0.62	0.78	0.71	1.05	1.16	0.77	0.59	0.4	0.53	0.45	0.5
Debt / assets	0.25	0.3	0.25	0.34	0.38	0.3	0.24	0.19	0.25	0.22	0.22
Net debt / EBITDA	4.61	8.34	4.21	8.42	163.6	3.94	2.67	1.65	8.1	5.56	4.41
Interest coverage	1.14	-2.3	1.65	0.21	-0.99	19.6	9.46	12.2	-0.26	1.01	2.66
Effective tax rate	44.4%	0%	66.3%	0%	0%	10.7%	42.2%	0%	0%	100%	34.2%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	42.4	40.9	42	43.8	39.1	43.2	49.9	51.2	46.5	42.6	44.7
EPS (basic)	0.02	-0.89	0.06	-0.46	-0.58	2.68	0.75	2.53	-0.47	-0.09	-0.09
EPS (diluted)	0.02	-0.89	0.06	-0.46	-0.58	2.54	0.7	2.38	-0.47	-0.09	0.36
Book value per share	8.12	7.22	7.81	7.52	7.04	9.8	10.5	13	12.3	12.4	12.3
FCF per share	0.57	-0.04	0.39	0.09	0.32	-2.21	1.1	0.18	-1.28	0.75	0.82
Cash per share	0.1	0.17	0.18	0.13	0.13	0.24	0.38	0.35	0.33	0.6	0.48
Capex per share	0.71	0.05	0.51	0.27	2.08	0.25	0.88	0.47	0.46	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	1.67%	0.13%	1.22%	0.62%	5.32%	0.58%	1.76%	0.92%	0.99%	—	—
Capex / operating cash flow	57.9%	-21.5%	75.9%	95.5%	314.3%	-2.8K%	55.7%	49.2%	53.3%	—	—
Payout ratio	—	—	—	—	—	—	—	—	—	—	0%

Yield

—

trailing twelve months

Frequency

—

Last dividend

$0.06

ex-dividend Aug 31, 1993

Payout ratio

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Aug 31, 1993	$0.06

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$33.4M	$36.1M	$34.2M	$33.9M	$31.4M	$28.6M	$26.9M	$30.7M	$30.5M	$30.3M	$30.3M	$33.5M
YoY change	-5.41%	+1.22%	-1.93%	-3.23%	-5.88%	-20.6%	-21.4%	-9.49%	-2.95%	+5.92%	+12.7%	+9.34%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	268.2K	473K	480K	351K	352K	643K	1M	960K	916K	1.7M
Receivables	17.3M	17.4M	20.1M	18.6M	15.6M	19.8M	16M	19.3M	14.9M	17M
Inventory	20.7M	18.5M	17M	14.3M	13.9M	19.4M	22.4M	21.7M	21.6M	20.7M
Total current assets	39.5M	37.8M	45.9M	43.3M	41M	51.8M	54.9M	58.8M	55.3M	56.1M
Property, plant & equipment	937.7K	1.3M	994K	4.7M	9.4M	1.8M	9M	7.4M	8.3M	8.3M
Goodwill & intangibles	10.3M	8.2M	7.8M	7.4M	2.3M	1M	844K	526K	348K	312K
Total assets	55.5M	52.1M	60M	61.4M	57.6M	67.1M	69.5M	75.1M	72.4M	71.9M
Accounts payable	13.8M	11.7M	18.1M	14M	11.2M	12.7M	14.8M	15.9M	11.6M	12.8M
Short-term debt	1.6M	1.3M	1.1M	1.9M	2.6M	1.6M	1.5M	1.4M	1.3M	8.6M
Total current liabilities	20.3M	18M	24.9M	22.2M	19.5M	22.3M	26.4M	26.6M	21.4M	29.8M
Long-term debt	12.2M	14.1M	13.8M	19.1M	19.2M	18.6M	15M	12.8M	16.7M	7.1M
Total liabilities	33.2M	32.3M	38.9M	41.4M	38.9M	41M	41.5M	39.8M	38.4M	37.4M
Shareholders' equity	22.3M	19.8M	21.1M	20M	18.7M	26.1M	28.1M	35.3M	34M	34.5M
Total debt	13.8M	15.4M	15M	20.9M	21.8M	20.2M	16.5M	14.2M	18M	15.7M
Net debt	13.5M	14.9M	14.5M	20.6M	21.4M	19.6M	15.5M	13.2M	17.1M	14.1M

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	699K	960K	4M	1.5M	1.2M	916K	1.2M	652K	1.3M	1.7M	2M	1.4M
Receivables	16M	19.3M	16.1M	17.6M	16.6M	14.9M	15.7M	17.8M	18.8M	17M	17.8M	19.9M
Inventory	21.5M	21.7M	23M	22.8M	22.3M	21.6M	20.9M	18.6M	18.4M	20.7M	23.6M	24.5M
Total current assets	52.6M	58.8M	59.1M	59.2M	60.3M	55.3M	57.3M	58.3M	59.2M	56.1M	60.7M	64.3M
Property, plant & equipment	13.1M	7.4M	13.5M	14.3M	13.9M	8.3M	13.4M	13M	12.6M	8.3M	11.8M	11.4M
Goodwill & intangibles	606K	526K	446K	366K	358K	348K	338K	330K	320K	312K	302K	294K
Total assets	66M	75.1M	75.5M	76.3M	77M	72.4M	73.5M	74.8M	74.8M	71.9M	76.6M	80M
Accounts payable	13.1M	15.9M	15.2M	12.7M	12.3M	11.6M	10.1M	11.9M	11.7M	12.8M	14.6M	14.9M
Short-term debt	1.4M	1.4M	1.5M	1.4M	1.3M	1.3M	1.9M	1.5M	13.6M	8.6M	9.5M	9.8M
Total current liabilities	23.2M	26.6M	25.7M	23.3M	23.3M	21.4M	20.7M	21.6M	33.6M	29.8M	33M	36M
Long-term debt	11.7M	12.8M	13.3M	16.4M	17.5M	16.7M	19.7M	19.5M	7.5M	7.1M	8.5M	8.1M
Total liabilities	35.3M	39.8M	39.4M	40.1M	41.3M	38.4M	40.7M	41.4M	41.4M	37.4M	41.9M	44.6M
Shareholders' equity	30.7M	35.3M	36M	36.1M	35.7M	34M	32.8M	33.4M	33.4M	34.5M	34.7M	35.5M
Total debt	13.1M	14.2M	14.8M	17.8M	18.9M	18M	21.6M	21M	21.1M	15.7M	18M	17.9M
Net debt	12.4M	13.2M	10.8M	16.3M	17.6M	17.1M	20.4M	20.4M	19.8M	14.1M	16M	16.5M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	43.8K	-2.4M	166K	-1.2M	-1.5M	7.2M	2M	6.9M	-1.3M	-252K
Depreciation & amortization	2.3M	2.5M	2.2M	2.2M	2.2M	1.9M	1.9M	2M	1.7M	1.3M
Stock-based compensation	994	43K	126K	261K	68K	111K	334K	423K	461K	503K
Change in working capital	1.6M	-697.3K	-656K	-637K	938K	-9.4M	-31K	-4.4M	1.5M	-1.3M
Operating cash flow	3.4M	-668.3K	1.8M	753K	1.8M	-24K	4.2M	2.6M	2.4M	2.7M
Capital expenditure	-2M	-144K	-1.4M	-719K	5.5M	-666K	-2.4M	-1.3M	-1.3M	—
Investing cash flow	-2M	-144K	-1.4M	-719K	5.5M	-666K	-2.4M	-1.3M	-1.3M	—
Dividends paid	—	—	—	—	—	—	—	—	—	—
Share repurchases	—	-30K	-276K	-130K	0	—	—	—	-100K	0
Financing cash flow	-1.4M	-38K	-889K	-532K	-4M	9.6M	-2.7M	-1.4M	2.7M	-1.9M
Net change in cash	32.1K	-850.3K	-449K	-498K	3.3M	8.9M	-842K	-115K	3.8M	853K
Free cash flow	1.6M	-121K	1M	239K	844K	-5.9M	3M	485K	-3.5M	2.1M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	1.2M	4.4M	765K	157K	-739K	-1.5M	-1.3M	313K	-146K	897K	-34K	316K
Depreciation & amortization	512K	511K	482K	484K	434K	338K	347K	331K	308K	302K	303K	315K
Stock-based compensation	107K	124K	80K	126K	128K	127K	118K	117K	134K	134K	126K	194K
Change in working capital	-875K	-4.3M	1.2M	-2.4M	49K	2.7M	-1.5M	503K	-1.9M	1.5M	-3.1M	-1.4M
Operating cash flow	1.2M	-2M	2.5M	-1.7M	-60K	1.6M	-2.3M	157K	-92K	5.6M	-1.6M	-888K
Capital expenditure	-165K	-163K	-735K	-276K	40K	-292K	-268K	—	—	—	—	—
Investing cash flow	-165K	-163K	-735K	-276K	40K	-292K	-268K	—	—	—	—	—
Dividends paid	—	—	—	—	—	—	—	—	—	—	—	—
Share repurchases	—	—	—	—	—	-33K	—	—	—	0	—	—
Financing cash flow	-2.5M	1.1M	274K	2M	1.3M	-803K	3.4M	-373K	360K	-5.1M	2.3M	203K
Net change in cash	-1.5M	-1M	2M	71K	1.3M	554K	816K	-216K	268K	523K	775K	-685K
Free cash flow	1.7M	-575K	2.1M	-4.6M	-1.5M	503K	-3.2M	58K	-242K	5.5M	-1.8M	-983K

Nortech Systems Incorporated Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

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P/E

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Per share

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Dividend per share

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Assets vs. liabilities & equity

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Assets vs. liabilities & equity

Condensed balance sheet

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Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement