M-tron Industries Inc (MPTI) AI Stock Analysis

• Market Cap: $189.70M
• Dividend Yield: N/A
• Average Volume (3M): 37.65K
• Price to Earnings (P/E): 26.5
• Beta (1Y): 1.42
• Revenue Growth: 12.79%
• EPS Growth: 23.79%
• Country: US
• Employees: 226
• Sector: Technology
• Sector Strength: 88
• Industry: Hardware, Equipment & Parts
• EPS (TTM): 0.63
• Shares Outstanding: 2,929,798
• 10 Day Avg. Volume: 53,470
• 30 Day Avg. Volume: 37,654
• PEG Ratio: 0.15
• Price to Book (P/B): 4.26
• Price to Sales (P/S): 2.72
• P/FCF Ratio: 23.67
• Enterprise Value/Market Cap: 0.00
• Enterprise Value/Revenue: 0.00
• Enterprise Value/Gross Profit: 0.00
• Enterprise Value/Ebitda: 0.00
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): 2.58
• Revenue Forecast (FY): $60.20M

• Rating: 82 Outperform
• Price Target: $68.00 ▲(32.68% Upside)

The score is driven primarily by strong financial quality (growth, improving cash generation, and very low leverage) and supportive technical momentum. Earnings-call demand indicators (notably the sharply higher backlog) add confidence, while valuation (P/E ~23.8 with no dividend yield provided) and recent margin pressure from mix/tariffs keep the score below the top tier.

Positive Factors

Conservative Balance Sheet

Exceptionally low debt and near-zero leverage materially reduce financial risk and preserve strategic optionality. This durable strength supports continued R&D, operational investment, and tolerance for defense procurement timing, enabling multi-quarter stability and lower refinancing risk.

Large Backlog / Demand Visibility

A near-term backlog increase of this magnitude provides multi-quarter revenue visibility and supports production planning. For aerospace and defense customers, a durable backlog signals sustained contract demand, smoothing revenue volatility and aiding capacity and margin management.

Product Innovation and Partnerships

Targeted R&D and a strategic partnership expand technical capabilities and product breadth—e.g., smaller, high-performance oscillators—strengthening competitive differentiation in avionics/defense. Structural product innovation can open adjacent markets and improve long-term revenue mix.

Negative Factors

Gross Margin Compression

Sustained mix shifts and tariff headwinds that reduce gross margins by several percentage points can erode operating leverage and cash generation. If tariffs or unfavorable product mix persist, margin pressure will weigh on profitability across multiple quarters absent pricing or sourcing changes.

Weaker Cash Conversion

Sub-100% cash conversion implies earnings are not fully translating into free cash, limiting internally funded growth and increasing reliance on working-capital management or external financing. Over several quarters this constrains reinvestment, dividends, or rapid deleveraging.

Added Secured Financing & Covenant Risk

While the facilities boost liquidity and acquisition capacity, secured borrowing and covenant terms introduce new capital-structure constraints compared with historically minimal leverage. In a downcycle, covenant pressure or collateralized debt raises financial rigidity over the next 2–3 years.

M-tron Industries Inc Business Overview & Revenue Model

Company Description

M-tron Industries, Inc. designs, manufactures, and markets frequency and spectrum control products. It operates in two product groups, Frequency Control and Spectrum Control. The Frequency Control product group includes a portfolio of quartz crystal resonators, clock oscillators, VCXO, TCXO OCXO, and DOCXO devices. These products are designed for applications in aerospace and defense, telecommunications infrastructure, and instrumentation markets. The Spectrum Control product group comprises an array of radio frequency (RF), microwave and millimeter wave filters, and diplexers covering a frequency range from 1 MHz to 90 GHz, and solid-state power amplifiers covering a frequency range from 300 MHz to 26 GHz, with power output from 10 Watts to 10 kWatts. The filter devices include crystal, ceramic, LC, tubular, combline, cavity, interdigital and metal insert waveguide, as well as digital, analog, and mechanical tunable filters, switched filter arrays, and RF subsystems. The power amplifiers add active devices comprise GaN, GaAS FET, LDMOS, and chip and wire technologies in narrow or broadband, module, or rack-mounted packages. These products are used in applications in the commercial and military aerospace, defense, space, and other commercial markets. The company was founded in 1965 and is based in Orlando, Florida.

How the Company Makes Money

M-tron Industries generates revenue primarily through the sale of its electronic components, which are essential in various applications, including telecommunications equipment, military systems, and industrial machinery. The company's revenue model is based on direct sales to original equipment manufacturers (OEMs) and distributors, as well as long-term contracts with key clients in sectors that require high reliability and performance. Additionally, MPTI benefits from partnerships with technology firms and defense contractors, which not only enhance its market reach but also provide opportunities for collaborative product development. The company's focus on research and development allows it to introduce innovative products that meet emerging market needs, thereby driving sales and increasing its market share.

M-tron Industries Inc Financial Statement Overview

Summary

M-tron Industries Inc exhibits a robust financial position with strong revenue growth, high profitability, and excellent cash flow management. The balance sheet is particularly strong with no debt, providing financial stability and flexibility for future growth. The company is well-positioned to sustain its growth trajectory given its efficient operations and solid financial foundation.

Income Statement

M-tron Industries Inc has demonstrated strong growth, with a remarkable revenue growth rate of 19.05% in 2024 compared to 2023. The gross profit margin is exceptional at 100%, indicating efficient production and pricing strategies. The net profit margin improved to 15.57% in 2024, showcasing enhanced profitability. Both EBIT and EBITDA margins increased, reflecting robust operational efficiency. Overall, the income statement shows a solid upward trajectory in terms of revenue and profitability.

Balance Sheet

The company maintains a solid balance sheet with zero debt, leading to a debt-to-equity ratio of 0. The equity ratio is strong at 85.70%, indicating a low reliance on external funding and high asset coverage by equity. Return on equity improved to 24.42% in 2024, reflecting effective utilization of shareholder funds to generate earnings. The balance sheet is stable and reflects strong financial health.

Cash Flow

M-tron's free cash flow grew by 80.04%, indicating strong cash generation capabilities. The operating cash flow to net income ratio is 0.99, suggesting effective conversion of earnings into cash. The free cash flow to net income ratio is 0.74, which shows a healthy conversion of net income into free cash flow. Overall, the cash flow statement indicates strong cash management and operational efficiency.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	52.99M	49.01M	41.17M	31.84M	26.69M	29.98M
Gross Profit	23.53M	22.64M	16.77M	11.35M	9.34M	10.30M
EBITDA	10.25M	10.37M	5.15M	3.60M	2.66M	3.47M
Net Income	7.16M	7.64M	3.49M	1.80M	1.58M	2.31M
Balance Sheet
Total Assets	42.23M	36.49M	24.30M	19.27M	20.01M	17.92M
Cash, Cash Equivalents and Short-Term Investments	18.33M	12.64M	3.91M	926.00K	2.63M	2.46M
Total Debt	159.00K	9.00K	97.00K	147.00K	145.00K	132.00K
Total Liabilities	5.22M	5.22M	4.41M	4.93M	3.16M	2.94M
Stockholders Equity	37.01M	31.27M	19.89M	14.34M	16.85M	14.97M
Cash Flow
Free Cash Flow	7.16M	5.62M	3.12M	1.11M	1.86M	3.50M
Operating Cash Flow	9.79M	7.52M	4.41M	2.04M	2.96M	3.91M
Investing Cash Flow	-2.63M	-1.90M	-1.28M	-936.00K	-1.10M	-407.00K
Financing Cash Flow	2.68M	3.10M	-137.00K	-2.81M	-1.68M	-3.91M

M-tron Industries Inc Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 51.25
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MPTI, the sentiment is Positive. The current price of 51.25 is below the 20-day moving average (MA) of 54.67, below the 50-day MA of 52.92, and above the 200-day MA of 48.89, indicating a bullish trend. The MACD of 2.72 indicates Negative momentum. The RSI at 75.75 is Negative, neither overbought nor oversold. The STOCH value of 87.28 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for MPTI.

M-tron Industries Inc Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
MPTI	82 Outperform	$189.70M	26.46	22.65%	―	12.79%	23.79%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
RELL	60 Neutral	$151.16M	159.52	0.11%	2.25%	6.17%	―
CPSH	60 Neutral	$67.60M	-110.34	-3.84%	―	38.22%	70.68%
KULR	52 Neutral	$152.55M	-5.31	-29.07%	―	71.92%	31.84%
GNSS	49 Neutral	$95.81M	-5.87	-183.60%	―	69.76%	43.82%
LINK	41 Neutral	$60.95M	-30.25	-13.78%	―	-1.70%	17.13%

M-tron Industries Inc Corporate Events

M-tron Industries Expands Credit Facilities to Support Growth

On December 31, 2025, M-tron Industries, Inc. and its affiliate Piezo Technology, Inc. amended and restated a credit agreement with Fifth Third Bank to secure a $10 million revolving credit facility for working capital and general corporate purposes and a $10 million delayed draw term loan facility dedicated to acquisitions, both guaranteed by M-tron Asia, LLC and secured by a first-priority lien on substantially all of the borrowers’ personal property. The facilities, which run through December 31, 2028, feature SOFR-based variable interest with a margin tied to the borrowers’ leverage ratio, quarterly amortization on drawn term loans, and unused facility fees, reflecting an expansion and formalization of the company’s financing capacity that enhances liquidity and provides targeted acquisition funding, with customary covenants and default provisions that may influence its capital structure and growth strategy over the next three years.

The most recent analyst rating on (MPTI) stock is a Buy with a $68.00 price target. To see the full list of analyst forecasts on M-tron Industries Inc stock, see the MPTI Stock Forecast page.

M-tron Industries Extends Warrant Expiration Date

On December 9, 2025, M-tron Industries, Inc. announced an extension of the expiration date for its warrants to purchase common stock, initially set to expire on December 11, 2025, now extended to December 23, 2025. This decision, approved by the Board of Directors, maintains all other terms of the warrants unchanged, including the exercise price of $47.50 per share, and allows warrant holders additional time to exercise their rights, potentially impacting shareholder engagement and the company’s market dynamics.

The most recent analyst rating on (MPTI) stock is a Buy with a $54.00 price target. To see the full list of analyst forecasts on M-tron Industries Inc stock, see the MPTI Stock Forecast page.

M-tron Industries Releases Southwest IDEAS Conference Slides

On November 25, 2025, M-tron Industries, Inc. released a slide presentation that was used during their presentation at the Southwest IDEAS Conference on November 20, 2025. The slides, now available on their investor relations website, provide insights into the company’s strategic direction and operational highlights, potentially impacting stakeholders’ perspectives on M-tron’s market positioning.

The most recent analyst rating on (MPTI) stock is a Buy with a $54.00 price target. To see the full list of analyst forecasts on M-tron Industries Inc stock, see the MPTI Stock Forecast page.

M-tron Industries Appoints Cameron Pforr as CEO

On November 6, 2025, M-tron Industries, Inc. appointed Cameron Pforr as the permanent Chief Executive Officer, following his role as Interim CEO since February 2025. Mr. Pforr will continue his duties as Chief Financial Officer, with no new compensatory arrangements announced. The Board expressed confidence in his leadership to guide the company through its growth phase, emphasizing M-tron’s critical role in the defense sector amid evolving defense strategies and acquisition processes.

The most recent analyst rating on (MPTI) stock is a Buy with a $50.00 price target. To see the full list of analyst forecasts on M-tron Industries Inc stock, see the MPTI Stock Forecast page.

M-tron Industries Reports Strong Q3 2025 Results

M-tron Industries, Inc. reported strong financial results for the third quarter of 2025, with revenues of $14.2 million, marking a 7.2% increase from the previous year. Despite a decrease in gross margin to 44.3% due to product mix and higher tariff-related costs, the company experienced a significant backlog increase of 47.9% to $58.8 million, driven by robust demand across aerospace and defense programs. Net income per diluted share decreased to $0.63, attributed to higher expenses and a one-time tax adjustment, but the company continues to strengthen its profitability through operational initiatives.

The most recent analyst rating on (MPTI) stock is a Buy with a $50.00 price target. To see the full list of analyst forecasts on M-tron Industries Inc stock, see the MPTI Stock Forecast page.

M-tron Industries Reports Q3 2025 Revenue Growth

M-tron Industries, Inc. announced its preliminary financial results for the third quarter ending September 30, 2025, reporting an increase in revenues to $14.1 million compared to $13.2 million in the same period of 2024. Despite a slight decline in gross margin and net income, the company continues to provide essential information to investors as they evaluate warrant exercises, with full financial results expected to be released on November 12, 2025.

The most recent analyst rating on (MPTI) stock is a Buy with a $50.00 price target. To see the full list of analyst forecasts on M-tron Industries Inc stock, see the MPTI Stock Forecast page.

M-tron Industries Warrants Now Exercisable

On October 23, 2025, M-tron Industries, Inc. announced that the warrants to purchase shares of its common stock, which were granted on April 25, 2025, are now exercisable. The trigger for this exercisability was achieved on October 20, 2025, when the average volume weighted average price of the stock exceeded $52.00 per share for thirty consecutive trading days. The company has extended the warrant exercise period to December 11, 2025, allowing warrant holders to exercise their rights and potentially subscribe for additional shares through an over-subscription privilege.

The most recent analyst rating on (MPTI) stock is a Buy with a $50.00 price target. To see the full list of analyst forecasts on M-tron Industries Inc stock, see the MPTI Stock Forecast page.