CSPI · Csp Inc /Ma/ - Financials

Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.

Price · CSPI

1Y 3Y 5Y Max

Annual Quarterly

Income Statement

Line item	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Revenue	$58.73M	$55.22M	$64.65M	$54.36M	$49.21M	$61.79M
Cost of Revenue	$40.22M	$36.36M	$42.73M	$35.53M	$33.06M	$44.63M
Gross Profit	$18.51M	$18.86M	$21.92M	$18.83M	$16.15M	$17.17M
R&D	$3.25M	$2.96M	$3.14M	$3.08M	$2.89M	$2.80M
SG&A	$18.37M	$17.77M	$16.91M	$15.78M	$14.62M	$15.79M
Total Operating Expenses	$21.62M	$20.73M	$20.05M	$18.87M	$17.51M	$18.59M
D&A	$237.0K	$292.0K	$343.0K	$350.0K	$379.0K	$443.0K
Operating Income	($3.11M)	($1.87M)	$1.87M	($40.0K)	($1.36M)	($1.42M)
Interest Expense	$235.0K	-	-	-	-	-
Income Tax	($1.57M)	($93.0K)	($469.0K)	$50.0K	$444.0K	$384.0K
Net Income	($91.0K)	($326.0K)	$5.20M	$1.89M	$699.0K	($1.45M)
EPS - Basic	($0.01)	($0.04)	$0.56	$0.21	$0.08	($0.18)
EPS - Diluted	($0.01)	($0.04)	$0.55	$0.21	$0.08	($0.18)

Balance Sheet

Line item	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Cash & Equivalents	$27.42M	$30.59M	$25.22M	$23.98M	$20.01M	$19.26M
Accounts Receivable	$12.00M	-	-	-	-	-
Inventory	$1.44M	$2.29M	$2.54M	$4.37M	$3.99M	$5.29M
Accounts Payable	$13.46M	$6.95M	$6.72M	$19.24M	$11.27M	$5.60M
Current Assets	$52.32M	$54.85M	$50.36M	$59.46M	$49.03M	$41.59M
Total Assets	$71.16M	$69.44M	$65.90M	$75.06M	$62.97M	$53.65M
Current Liabilities	$22.18M	$18.68M	$15.66M	$30.18M	$17.83M	$12.98M
Long-term Debt	-	-	-	-	-	-
Total Liabilities	$26.61M	$22.17M	$19.76M	$36.10M	$28.93M	$24.11M
Stockholders' Equity	$44.55M	$47.27M	$46.15M	$38.96M	$34.05M	$29.53M
Retained Earnings	$27.70M	$29.85M	$31.31M	$26.77M	$25.19M	$24.49M

Cash Flow

Line item	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Operating Cash Flow	$2.27M	$4.21M	$3.91M	$2.67M	$1.90M	$244.0K
Investing Cash Flow	($428.0K)	($256.0K)	($341.0K)	$20.0K	($166.0K)	($345.0K)
Financing Cash Flow	($5.04M)	$1.38M	($2.40M)	$1.33M	($954.0K)	$832.0K
CapEx	$348.0K	$196.0K	$226.0K	$234.0K	$98.0K	$230.0K
Free Cash Flow	$1.92M	$4.02M	$3.68M	$2.44M	$1.80M	$14.0K

Ratios

Metric	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Profitability
Gross margin	31.5%	34.1%	33.9%	34.6%	32.8%	27.8%
Operating margin	-5.3%	-3.4%	2.9%	-0.1%	-2.8%	-2.3%
EBITDA margin	-4.9%	-2.9%	3.4%	0.6%	-2.0%	-1.6%
Net margin	-0.2%	-0.6%	8.0%	3.5%	1.4%	-2.3%
Free cash flow margin	3.3%	7.3%	5.7%	4.5%	3.7%	0.0%
FCF / Net income	-21.10	-12.32	0.71	1.29	2.58	-0.01
R&D / Revenue	5.5%	5.4%	4.9%	5.7%	5.9%	4.5%
SG&A / Revenue	31.3%	32.2%	26.2%	29.0%	29.7%	25.6%
Effective tax rate	-	-	-9.9%	2.6%	38.8%	-
Return on assets	-0.1%	-0.5%	7.9%	2.5%	1.1%	-2.7%
Return on equity	-0.2%	-0.7%	11.3%	4.8%	2.1%	-4.9%
Return on invested capital	-	-	-	-	-	-
Liquidity
Current ratio	2.36	2.94	3.22	1.97	2.75	3.20
Quick ratio	2.29	2.81	3.05	1.83	2.53	2.80
Cash ratio	1.24	1.64	1.61	0.79	1.12	1.48
Leverage
Debt / Equity	-	-	-	-	-	-
Debt / Assets	-	-	-	-	-	-
Debt / EBITDA	-	-	-	-	-	-
Interest coverage	-13.2x	-	-	-	-	-
Equity multiplier	1.60	1.47	1.43	1.93	1.85	1.82
Liabilities / Assets	0.37	0.32	0.30	0.48	0.46	0.45
Efficiency
Asset turnover	0.83	0.80	0.98	0.72	0.78	1.15
Inventory turnover	27.89	15.86	16.81	8.13	8.29	8.44
Days sales outstanding	75d	-	-	-	-	-
Days inventory outstanding	13d	23d	22d	45d	44d	43d
Days payable outstanding	122d	70d	57d	198d	124d	46d
Cash conversion cycle	-35d	-	-	-	-	-
Valuation
P / E	-	-	16.1x	17.1x	55.8x	-
P / B	2.4x	2.5x	0.8x	0.4x	0.6x	0.6x
P / S	1.8x	2.1x	0.6x	0.3x	0.4x	0.3x
EV / EBITDA	-	-	6.3x	-27.8x	-	-
Growth
Revenue growth (YoY)	6.4%	-14.6%	18.9%	10.5%	-20.4%	-21.8%
Revenue CAGR (3y)	2.6%	3.9%	1.5%	-11.7%	-12.3%	-17.9%
Revenue CAGR (5y)	-1.0%	-6.9%	-2.4%	-13.4%	-13.8%	-7.1%
Gross profit growth (YoY)	-1.8%	-14.0%	16.4%	16.6%	-5.9%	-4.8%
Operating income growth (YoY)	-66.1%	-	-	97.1%	4.4%	-72.4%
Net income growth (YoY)	72.1%	-	175.5%	170.2%	-	-289.8%
EPS growth (YoY)	75.0%	-	159.5%	162.5%	-	-100.0%
EPS CAGR (3y)	-	-	-	-	-71.8%	-
EPS CAGR (5y)	-	-	-31.3%	-19.7%	-34.6%	-
FCF growth (YoY)	-52.2%	9.1%	50.8%	35.2%	12792.9%	-
FCF CAGR (5y)	167.6%	-	7.4%	1.2%	-15.8%	-
Book value growth (YoY)	-5.8%	2.4%	18.4%	14.4%	15.3%	-2.9%

Sales by segment

From XBRL dimensional facts in the 10-K period ending 2025-09-30.

Business segments

$3.02M total

High Performance Products Segment$1.92M · 63.6%

Technology Solutions Segment$1.10M · 36.4%

Product / service

$58.73M total

Product$37.75M · 64.3%

Service$20.98M · 35.7%

Geographic

$1.92M total

US$1.67M · 87.0%

Apac And Africa$245.0K · 12.7%

Americas Excluding United States$3.0K · 0.2%

Europe$1.0K · 0.1%

Stability scores

Altman Z′

FY 2025 · bankruptcy risk

2.02

Grey zone

Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.

Piotroski F-score

FY 2025 · 9-point quality

4/9

Neutral

✗Net income positive
✓Operating cash flow positive
✓ROA improved YoY
✓Cash flow > net income
-Long-term debt decreased
✗Current ratio improved
✗No share dilution
✗Gross margin improved
✓Asset turnover improved

Peer comparison

Same SIC group: Services-Computer Integrated Systems Design

Company	Revenue (last FY)	Net margin	ROE
IOT	$1.62B	-0.6%	-0.6%
LDOS	$17.17B	8.4%	29.5%
SMRT	$152.33M	-39.8%	-26.1%
STEM	$156.27M	88.2%	-55.2%
CACI	$8.63B	5.8%	12.8%

Comparing CSP INC /MA/ against the 5 most active filers in the same SIC group.

Dividends

$0.12/share trailing 12 months · 0.0% YoY

Ex-date	Per share
May 21, 2026	$0.0300
Feb 26, 2026	$0.0300
Dec 26, 2025	$0.0300
Aug 29, 2025	$0.0300
May 28, 2025	$0.0300
Feb 24, 2025	$0.0300
Dec 27, 2024	$0.0300
Aug 23, 2024	$0.0300
May 23, 2024	$0.0300
Feb 23, 2024	$0.0250
Dec 21, 2023	$0.0200
Aug 22, 2023	$0.0200
May 24, 2023	$0.0200
Feb 23, 2023	$0.0150
Dec 20, 2022	$0.0150
Aug 19, 2022	$0.0150
Feb 27, 2020	$0.0750
Dec 30, 2019	$0.0750
Aug 29, 2019	$0.0750
May 30, 2019	$0.0750
Feb 27, 2019	$0.0750
Jan 4, 2019	$0.0750
Aug 30, 2018	$0.0750
May 30, 2018	$0.0550