inTEST Corporation (INTT)
:INTT
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inTEST
(INTT)
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Rating:70Outperform
Price Target:
$20.50
▲(29.01% Upside)
Action:UpgradedDate:05/06/26
Overall score reflects strong technical momentum as the primary positive, supported by balance-sheet stability and positive cash generation. This is tempered by weakened TTM profitability and reduced free-cash-flow momentum, while valuation appears roughly middle-of-the-road and management’s guidance is constructive but still carries cyclical and covenant-related execution risk.
Positive Factors
Strong liquidity and modest leverage
A low debt load alongside roughly $58M of available liquidity and an untapped delayed‑draw facility gives inTEST durable financial flexibility. This supports capex, integration of acquisitions, and covenant remediation without forcing asset sales or disruptive financing in a choppy semiconductor cycle.
Negative Factors
Return to losses and weak profitability
A swing back to net losses and negative trailing returns reduces internal funding capacity and pressures ROE. Persistent profitability weakness can erode investor confidence and limit reinvestment for product development or capacity expansion unless margins and revenue sustainably recover.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong liquidity and modest leverage
A low debt load alongside roughly $58M of available liquidity and an untapped delayed‑draw facility gives inTEST durable financial flexibility. This supports capex, integration of acquisitions, and covenant remediation without forcing asset sales or disruptive financing in a choppy semiconductor cycle.
Read all positive factors
inTEST (INTT) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$231.67M
Dividend YieldN/A
Average Volume (3M)174.48K
Price to Earnings (P/E)18.4
Beta (1Y)1.11
Revenue Growth-12.90%
EPS Growth-187.11%
CountryUS
Employees393
SectorTechnology
Sector Strength88
IndustrySemiconductors
Share Statistics
EPS (TTM)-0.21
Shares Outstanding12,495,544
10 Day Avg. Volume242,143
30 Day Avg. Volume174,481
Financial Highlights & Ratios
PEG Ratio0.19
Price to Book (P/B)0.88
Price to Sales (P/S)0.80
P/FCF Ratio16.04
Enterprise Value/Market Cap0.90
Enterprise Value/Revenue1.82
Enterprise Value/Gross Profit4.24
Enterprise Value/Ebitda67.44
Forecast
1Y Price Target
$18.00Price Target Upside13.28% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)0.42
Revenue Forecast (FY)$129.24M
inTEST Business Overview & Revenue Model
Company Description
inTEST Corporation supplies test and process solutions for use in manufacturing and testing in automotive, defense/aerospace, industrial, life sciences, security, and semiconductor markets worldwide. The company operates through two segments, Ther...
How the Company Makes Money
inTEST makes money primarily by selling physical test and measurement products and associated supporting services to industrial and technology customers, with a significant emphasis on semiconductor testing workflows. Key revenue streams generally...
inTEST Earnings Call Summary
Earnings Call Date:Feb 27, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Jul 31, 2026
Earnings Call Sentiment Positive
The call conveys cautious optimism: a strong Q4 rebound with order momentum, expanding backlog, margin improvement, meaningful diversification away from semiconductors, and a constructive 2026 guide all point to recovery and improved profitability prospects. However, material 2025 year-over-year declines in revenue and profitability driven largely by semiconductor weakness, a modest semi recovery assumed in guidance, past covenant relief, and certain one-time items temper near-term visibility and present risks if macro or semiconductor demand does not strengthen as expected.Positive Updates
Strong Q4 Revenue Beat and Sequential Recovery
Q4 revenue of $32.8M, above guidance and the highest quarter of the year; Q4 revenue rose $6.6M or 25% sequentially from $26.2M in Q3 (including ~$2M of shipments slipped from Q3).
Negative Updates
Full-Year Profitability Decline
Full-year 2025 net loss of $2.5M; full-year adjusted EBITDA $4.0M (3.5% adjusted EBITDA margin) versus $10.8M and an 8.3% margin in 2024, indicating material year-over-year profitability deterioration.
Read all updates
Q4-2025 Updates
Positive
Negative
Strong Q4 Revenue Beat and Sequential Recovery
Q4 revenue of $32.8M, above guidance and the highest quarter of the year; Q4 revenue rose $6.6M or 25% sequentially from $26.2M in Q3 (including ~$2M of shipments slipped from Q3).
Read all positive updates
Company Guidance
Management guided Q1 2026 revenue of $31–33M with gross margin of ~44%, operating expenses of $13.3–13.7M and $0.8M of amortization; for full-year 2026 they forecast $125–130M revenue (≈12% growth at the midpoint vs $113.8M in 2025), ~45% gross margin, operating expenses of $53–55M, $2.6M of amortization, approximately $300k of interest expense, an ~18% effective tax rate, and capex of 1–2% of revenue. The guidance assumes no material tariff or geopolitical impact, does not rely on a meaningful semiconductor rebound, expects Q1 margin to be below Q4 due to product/customer mix with higher amortization in H1, anticipates returning to loan‑covenant compliance by midyear, and reflects the company’s strong liquidity position (≈$18.1M cash, ~$58M total liquidity), $7.5M debt outstanding and full access to a $30M delayed‑draw facility plus a $10M revolver.inTEST Financial Statement Overview
Summary
Income Statement
52
Neutral
Balance Sheet
74
Positive
Cash Flow
63
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 113.83M | 130.69M | 123.30M | 116.83M | 84.88M |
| Gross Profit | 48.92M | 55.42M | 56.98M | 53.44M | 41.22M |
| EBITDA | 4.02M | 9.74M | 16.41M | 15.51M | 11.64M |
| Net Income | -2.53M | 2.89M | 9.34M | 8.46M | 7.28M |
Balance Sheet | |||||
| Total Assets | 151.31M | 152.29M | 134.83M | 110.07M | 103.91M |
| Cash, Cash Equivalents and Short-Term Investments | 14.22M | 19.83M | 45.26M | 13.43M | 21.20M |
| Total Debt | 15.56M | 26.04M | 17.46M | 22.49M | 26.72M |
| Total Liabilities | 47.69M | 52.50M | 38.55M | 45.11M | 49.08M |
| Stockholders Equity | 103.62M | 99.79M | 96.28M | 64.96M | 54.82M |
Cash Flow | |||||
| Free Cash Flow | 5.68M | 2.50M | 14.91M | -2.75M | 9.85M |
| Operating Cash Flow | 7.32M | 3.82M | 16.20M | -1.39M | 10.84M |
| Investing Cash Flow | -1.63M | -20.05M | -1.29M | -1.17M | -21.37M |
| Financing Cash Flow | -8.22M | -8.64M | 15.61M | -3.73M | 21.73M |
inTEST Technical Analysis
Positive
15.89
Price Trends
13.02
Positive
10.55
Positive
9.10
Positive
Market Momentum
0.80
Negative
59.99
Neutral
72.23
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For INTT, the sentiment is Positive. The current price of 15.89 is above the 20-day moving average (MA) of 14.75, above the 50-day MA of 13.02, and above the 200-day MA of 9.10, indicating a bullish trend. The MACD of 0.80 indicates Negative momentum. The RSI at 59.99 is Neutral, neither overbought nor oversold. The STOCH value of 72.23 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for INTT.
inTEST Risk Analysis
inTEST disclosed 30 risk factors in its most recent earnings report. inTEST reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
inTEST Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | $231.67M | 18.35 | -2.48% | ― | -12.90% | -187.11% | |
67 Neutral | $2.20B | -29.19 | -9.07% | ― | 23.10% | 35.49% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
61 Neutral | $237.42M | 417.23 | -58.96% | ― | -26.55% | -2660.91% | |
56 Neutral | $2.69B | -89.67 | -8.87% | ― | -26.39% | -147.85% | |
50 Neutral | $129.73M | -5.48 | -10.13% | ― | -20.74% | 44.67% | |
47 Neutral | $36.20M | -2.36 | 109.22% | ― | -38.72% | 16.01% |
* Technology Sector Average
INTT
inTEST
18.54
12.67
215.84%
AEHR
Aehr Test Systems
85.61
77.42
945.30%
ASYS
Amtech Systems
16.48
12.99
372.21%
COHU
Cohu
46.69
31.08
199.10%
MX
MagnaChip
3.56
0.54
17.88%
PXLW
Pixelworks
5.69
-0.40
-6.61%
inTEST Corporate Events
Business Operations and StrategyFinancial DisclosuresPrivate Placements and Financing
inTEST Extends Loan Agreement Amid Strong Q1 Growth
Positive
May 5, 2026
On May 4, 2026, inTEST further amended its loan and security agreement with MT Bank, extending the term loan advance period to August 28, 2026 and removing inTEST Silicon Valley Corporation as a guarantor, which modestly adjusts its capital struct...
Executive/Board Changes
inTEST Announces Upcoming Board and Committee Leadership Change
Neutral
Apr 10, 2026
On April 6, 2026, inTEST Corporation announced that director Gerald J. Maginnis, who also serves as chairman of the Audit Committee and a member of the Compensation and Nominating and Corporate Governance committees, will not stand for re-election...
Business Operations and StrategyExecutive/Board Changes
inTEST appoints Rich Rogoff as new CEO
Positive
Apr 2, 2026
InTest Corporation announced a leadership transition effective March 31, 2026, as Richard N. (Nick) Grant Jr. stepped down as president, chief executive officer and board director, with the company stressing his departure was in line with his 2020...
Executive/Board Changes
inTEST keeps 2026 executive salaries, boosts incentive focus
Positive
Mar 6, 2026
On March 4, 2026, inTEST Corporation’s board Compensation Committee decided to keep 2026 base salaries for President and CEO Richard N. Grant, Jr. and CFO Duncan Gilmour unchanged at their 2025 levels of $428,915 and $282,500, respectively, ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.