NSYS · Nortech Systems Inc - 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.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $118.36M | $128.13M | $139.33M | $134.12M | $115.17M | $104.11M |
| Cost of Revenue | $100.36M | $111.41M | $116.23M | $113.64M | $99.30M | $95.65M |
| Gross Profit | $18.01M | $16.72M | $23.10M | $20.48M | $15.86M | $8.46M |
| R&D | $1.17M | $1.19M | $1.20M | $1.46M | $0 | - |
| SG&A | $10.79M | $11.71M | $12.35M | $11.43M | $10.00M | $8.04M |
| Total Operating Expenses | $17.03M | $16.92M | $17.15M | $16.59M | $13.59M | $9.07M |
| D&A | $1.27M | $1.65M | $1.89M | $1.77M | $1.77M | $2.00M |
| Operating Income | $975.0K | ($195.0K) | $5.95M | $3.89M | $2.27M | ($616.0K) |
| Interest Expense | $964.0K | $744.0K | $487.0K | $411.0K | $430.0K | $620.0K |
| Income Tax | $263.0K | $356.0K | ($1.41M) | $1.47M | $859.0K | $310.0K |
| Net Income | ($252.0K) | ($1.29M) | $6.87M | $2.01M | $7.15M | ($1.55M) |
| EPS - Basic | ($0.09) | ($0.47) | $2.53 | $0.75 | $2.68 | ($0.58) |
| EPS - Diluted | ($0.09) | ($0.47) | $2.38 | $0.70 | $2.54 | ($0.58) |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.66M | $916.0K | $960.0K | $1.03M | $643.0K | $352.0K |
| Accounts Receivable | $17.00M | $14.88M | $19.28M | $15.97M | $14.55M | $15.63M |
| Inventory | $20.70M | $21.64M | $21.66M | $22.44M | $19.43M | $13.92M |
| Accounts Payable | $12.81M | $11.58M | $15.92M | $14.79M | $12.71M | $11.24M |
| Current Assets | $56.15M | $55.31M | $58.79M | $54.86M | $51.77M | $41.04M |
| Total Assets | $71.92M | $72.44M | $75.13M | $69.54M | $67.09M | $57.63M |
| Current Liabilities | $29.84M | $21.43M | $26.58M | $26.40M | $22.31M | $19.54M |
| Long-term Debt | - | - | - | - | - | $5.87M |
| Total Liabilities | $37.37M | $38.43M | $39.78M | $41.46M | $40.98M | $38.92M |
| Stockholders' Equity | $34.55M | $34.01M | $35.34M | $28.08M | $26.11M | $18.72M |
| Retained Earnings | $17.12M | $17.38M | $18.67M | $11.83M | $9.82M | $2.66M |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $2.74M | ($2.25M) | $1.77M | $5.40M | ($4.54M) | $1.36M |
| Investing Cash Flow | ($157.0K) | ($1.26M) | ($1.28M) | ($2.43M) | ($730.0K) | $5.50M |
| Financing Cash Flow | ($1.87M) | $2.77M | ($1.28M) | ($2.67M) | $3.93M | ($3.96M) |
| CapEx | $661.0K | $1.27M | $1.28M | $2.37M | $1.29M | $485.0K |
| Free Cash Flow | $2.08M | ($3.52M) | $485.0K | $3.03M | ($5.83M) | $878.0K |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 15.2% | 13.1% | 16.6% | 15.3% | 13.8% | 8.1% |
| Operating margin | 0.8% | -0.2% | 4.3% | 2.9% | 2.0% | -0.6% |
| EBITDA margin | 1.9% | 1.1% | 5.6% | 4.2% | 3.5% | 1.3% |
| Net margin | -0.2% | -1.0% | 4.9% | 1.5% | 6.2% | -1.5% |
| Free cash flow margin | 1.8% | -2.7% | 0.3% | 2.3% | -5.1% | 0.8% |
| FCF / Net income | -8.26 | 2.72 | 0.07 | 1.51 | -0.82 | -0.57 |
| R&D / Revenue | 1.0% | 0.9% | 0.9% | 1.1% | 0.0% | - |
| SG&A / Revenue | 9.1% | 9.1% | 8.9% | 8.5% | 8.7% | 7.7% |
| Effective tax rate | 2390.9% | - | -25.8% | 42.2% | 10.7% | - |
| Return on assets | -0.4% | -1.8% | 9.1% | 2.9% | 10.7% | -2.7% |
| Return on equity | -0.7% | -3.8% | 19.4% | 7.2% | 27.4% | -8.3% |
| Return on invested capital | - | - | - | - | - | -2.0% |
| Liquidity | ||||||
| Current ratio | 1.88 | 2.58 | 2.21 | 2.08 | 2.32 | 2.10 |
| Quick ratio | 1.19 | 1.57 | 1.40 | 1.23 | 1.45 | 1.39 |
| Cash ratio | 0.06 | 0.04 | 0.04 | 0.04 | 0.03 | 0.02 |
| Leverage | ||||||
| Debt / Equity | - | - | - | - | - | 0.31 |
| Debt / Assets | - | - | - | - | - | 0.10 |
| Debt / EBITDA | - | - | - | - | - | 4.23 |
| Interest coverage | 1.0x | -0.3x | 12.2x | 9.5x | 5.3x | -1.0x |
| Equity multiplier | 2.08 | 2.13 | 2.13 | 2.48 | 2.57 | 3.08 |
| Liabilities / Assets | 0.52 | 0.53 | 0.53 | 0.60 | 0.61 | 0.68 |
| Efficiency | ||||||
| Asset turnover | 1.65 | 1.77 | 1.85 | 1.93 | 1.72 | 1.81 |
| Inventory turnover | 4.85 | 5.15 | 5.37 | 5.06 | 5.11 | 6.87 |
| Days sales outstanding | 52d | 42d | 51d | 43d | 46d | 55d |
| Days inventory outstanding | 75d | 71d | 68d | 72d | 71d | 53d |
| Days payable outstanding | 47d | 38d | 50d | 48d | 47d | 43d |
| Cash conversion cycle | 81d | 75d | 69d | 68d | 71d | 65d |
| Valuation | ||||||
| P / E | - | - | 4.0x | 17.5x | 4.1x | - |
| P / B | 0.6x | 0.8x | 0.8x | 1.3x | 1.1x | 1.0x |
| P / S | 0.2x | 0.2x | 0.2x | 0.3x | 0.3x | 0.2x |
| EV / EBITDA | 8.5x | 18.9x | 3.3x | 6.1x | 7.1x | 17.7x |
| Growth | ||||||
| Revenue growth (YoY) | -7.6% | -8.0% | 3.9% | 16.5% | 10.6% | -10.5% |
| Revenue CAGR (3y) | -4.1% | 3.6% | 10.2% | 4.9% | 0.8% | -2.5% |
| Revenue CAGR (5y) | 2.6% | 2.0% | 4.4% | 3.6% | -0.3% | -2.0% |
| Gross profit growth (YoY) | 7.7% | -27.6% | 12.8% | 29.1% | 87.6% | -32.8% |
| Operating income growth (YoY) | - | - | 53.1% | 71.1% | - | - |
| Net income growth (YoY) | 80.5% | - | 242.0% | -71.9% | - | -25.9% |
| EPS growth (YoY) | 80.9% | - | 240.0% | -72.4% | - | -26.1% |
| EPS CAGR (3y) | - | - | - | - | 248.5% | - |
| EPS CAGR (5y) | - | - | 108.8% | - | 163.5% | - |
| FCF growth (YoY) | - | - | -84.0% | - | - | 215.8% |
| FCF CAGR (5y) | 18.8% | - | -14.2% | 2.2% | - | -12.5% |
| Book value growth (YoY) | 1.6% | -3.8% | 25.9% | 7.5% | 39.5% | -6.3% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Product / service
$89.53M totalMedical Imaging$31.91M · 35.6%
Medical Device$22.36M · 25.0%
Industrial$22.15M · 24.7%
Aerospace And Defense$13.11M · 14.6%
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
2.54
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
5/9
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: Electronic Components, NEC
Comparing NORTECH SYSTEMS INC against the 5 most active filers in the same SIC group.