M-tron Industries Inc (MPTI)
:MPTI
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M-tron Industries Inc
(MPTI)
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Rating:82Outperform
Price Target:
$78.00
▲(16.68% Upside)
Action:ReiteratedDate:04/01/26
Overall score is driven primarily by strong financial performance (growth, profitability improvement, rising operating/free cash flow, and very low leverage) and a positive earnings outlook supported by a sharply higher backlog and improved liquidity. The score is tempered by margin/tariff headwinds, dilution risk from the rights offering, and only moderate (not surging) technical momentum.
Positive Factors
Conservative balance sheet
Exceptionally low leverage and a materially larger equity base give the company durable financial flexibility to fund organic capacity, pursue M&A, and withstand demand cycles without relying on high-cost debt. This structural strength supports multi-year strategic initiatives and lowers bankruptcy risk.
Negative Factors
Margin pressure from tariffs & mix
Tariff-driven cost increases and shifts toward lower-margin new product introductions can erode gross margins and limit operating leverage over multiple quarters. Even if tariffs ease, structural mix shifts or supply-chain cost exposure could sustain margin pressure and compress long-term free cash flow.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Exceptionally low leverage and a materially larger equity base give the company durable financial flexibility to fund organic capacity, pursue M&A, and withstand demand cycles without relying on high-cost debt. This structural strength supports multi-year strategic initiatives and lowers bankruptcy risk.
Read all positive factors
M-tron Industries Inc (MPTI) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$238.33M
Dividend YieldN/A
Average Volume (3M)74.36K
Price to Earnings (P/E)18.1
Beta (1Y)1.45
Revenue Growth12.79%
EPS Growth23.79%
CountryUS
Employees226
SectorTechnology
Sector Strength88
IndustryHardware, Equipment & Parts
Share Statistics
EPS (TTM)0.99
Shares Outstanding3,565,118
10 Day Avg. Volume162,750
30 Day Avg. Volume74,361
Financial Highlights & Ratios
PEG Ratio3.15
Price to Book (P/B)2.42
Price to Sales (P/S)2.81
P/FCF Ratio18.86
Enterprise Value/Market Cap0.73
Enterprise Value/Revenue3.22
Enterprise Value/Gross Profit7.25
Enterprise Value/Ebitda15.11
Forecast
1Y Price Target
$72.00Price Target Upside7.70% Upside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)2.69
Revenue Forecast (FY)$61.43M
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 cryst...
How the Company Makes Money
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M-tron Industries Inc Earnings Call Summary
Earnings Call Date:Mar 24, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 12, 2026
Earnings Call Sentiment Positive
The call conveyed a generally positive operational and financial tone: double-digit revenue growth (11.2% YoY), a materially larger backlog (62% increase), strong adjusted EBITDA expansion (Q4 +46.8%) and improved cash generation and liquidity (operations +$10.7M; $27.5M warrant proceeds; undrawn $20M facility). These strengths support management's organic and inorganic growth plans. Offsetting risks include margin pressure driven by tariffs and product mix (gross margin down ~1.8 ppts year-over-year), a compensation accrual reversal (indicating missed bonus triggers), concentration in defense customers and potential dilution from a rights offering. On balance, the positive financial momentum, strong backlog and improved liquidity outweigh the margin and timing risks.Positive Updates
Revenue Growth (Q4 and FY2025)
Q4 2025 revenue of $14.2 million, an 11.2% increase year-over-year; Fiscal 2025 revenue of $54.4 million, also an 11.2% increase versus FY2024 — growth driven primarily by defense program shipments and commercial avionics.
Negative Updates
Gross Margin Pressure
Fiscal 2025 gross margin declined to 44.4% from 46.2% in 2024 (down 1.8 percentage points); Q4 2025 gross margin was 46.9% vs. 47.2% in Q4 2024 (down 0.3 ppt). Management cited tariffs and an unfavorable product mix (new product introductions) as primary drivers of margin compression.
Read all updates
Q4-2025 Updates
Positive
Negative
Revenue Growth (Q4 and FY2025)
Q4 2025 revenue of $14.2 million, an 11.2% increase year-over-year; Fiscal 2025 revenue of $54.4 million, also an 11.2% increase versus FY2024 — growth driven primarily by defense program shipments and commercial avionics.
Read all positive updates
Company Guidance
The company’s forward guidance emphasized continued growth driven by defense programs (notably radar and electronic warfare) and commercial avionics, supported by a backlog of $76.4 million (up 62% YoY) and FY‑2025 revenue of $54.4 million (Q4 $14.2M, +11.2% YoY); management said radar/drone-related work could be roughly $4 million in 2026 and that avionics demand should remain strong through 2035. They expect margin pressure from tariffs to abate (tariffs reduced 2025 gross margin by ~1%) and see improved product mix and operating leverage supporting adjusted EBITDA (FY‑2025 $12.6M; Q4 $4.5M, +46.8% YoY) and net income ($8.4M; FY EPS $2.62; Q4 diluted EPS $0.99). To fund capacity and M&A optionality they closed a $27.5M warrant raise, ended the period with $20.9M cash (added $10.7M from operations in FY‑2025), have an undrawn $20M credit facility, and launched a rights offering (5 rights per new share; subscription price to be set ~10–12% below the trailing 5‑day VWAP; rights expire April 15, 2026); if awarded large prime design slots they do not expect a material production increase until late 2027–2028.M-tron Industries Inc Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
92
Very Positive
Cash Flow
84
Very Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 54.42M | 49.01M | 41.17M | 31.84M | 26.69M |
| Gross Profit | 24.15M | 22.64M | 16.77M | 11.35M | 9.34M |
| EBITDA | 11.38M | 10.37M | 5.15M | 3.60M | 2.66M |
| Net Income | 8.45M | 7.64M | 3.49M | 1.80M | 1.58M |
Balance Sheet | |||||
| Total Assets | 68.38M | 36.49M | 24.30M | 19.27M | 20.01M |
| Cash, Cash Equivalents and Short-Term Investments | 20.89M | 12.64M | 3.91M | 926.00K | 2.63M |
| Total Debt | 148.00K | 9.00K | 97.00K | 147.00K | 145.00K |
| Total Liabilities | 5.17M | 5.22M | 4.41M | 4.93M | 3.16M |
| Stockholders Equity | 63.22M | 31.27M | 19.89M | 14.34M | 16.85M |
Cash Flow | |||||
| Free Cash Flow | 8.11M | 5.62M | 3.12M | 1.11M | 1.86M |
| Operating Cash Flow | 10.66M | 7.52M | 4.41M | 2.04M | 2.96M |
| Investing Cash Flow | -2.55M | -1.90M | -1.28M | -936.00K | -1.10M |
| Financing Cash Flow | 142.00K | 3.10M | -137.00K | -2.81M | -1.68M |
M-tron Industries Inc Technical Analysis
Positive
66.85
Price Trends
64.56
Positive
59.05
Positive
53.02
Positive
Market Momentum
1.14
Negative
52.08
Neutral
43.28
Neutral
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 66.85 is above the 20-day moving average (MA) of 65.25, above the 50-day MA of 64.56, and above the 200-day MA of 53.02, indicating a bullish trend. The MACD of 1.14 indicates Negative momentum. The RSI at 52.08 is Neutral, neither overbought nor oversold. The STOCH value of 43.28 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for MPTI.
M-tron Industries Inc Risk Analysis
M-tron Industries Inc disclosed 30 risk factors in its most recent earnings report. M-tron Industries Inc 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
M-tron Industries Inc Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
82 Outperform | $238.33M | 18.10 | 20.09% | ― | 12.79% | 23.79% | |
64 Neutral | $156.74M | -268.55 | 0.51% | 2.25% | 6.17% | ― | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
52 Neutral | $82.29M | -29.74 | -391.12% | ― | 69.76% | 43.82% | |
52 Neutral | $67.29M | 110.94 | 2.42% | ― | 38.22% | 70.68% | |
46 Neutral | $108.25M | -1.90 | -20.63% | ― | 71.92% | 31.84% | |
43 Neutral | $46.31M | -35.85 | -14.57% | ― | -1.70% | 17.13% |
* Technology Sector Average
MPTI
M-tron Industries Inc
66.85
19.80
42.08%
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M-tron Industries Inc Corporate Events
Private Placements and Financing
M-tron Industries Launches Discounted Transferable Rights Offering
Positive
Mar 30, 2026
On March 18, 2026, M-tron Industries, Inc. announced that its board had approved a transferable rights offering for existing shareholders of record as of March 27, 2026, with up to 713,362 new common shares available. Stockholders will receive one...
Business Operations and StrategyFinancial DisclosuresPrivate Placements and Financing
M-tron Industries Reports Strong Q4 2025 Results, Backlog Surges
Positive
Mar 24, 2026
M-tron Industries, Inc. reported strong results for the fourth quarter and full year ended Dec. 31, 2025, with quarterly revenue rising to $14.2 million from $12.8 million a year earlier and net income per diluted share climbing to $0.99 from $0.7...
Business Operations and StrategyPrivate Placements and Financing
M-tron Industries Launches Transferable Rights Offering for Growth
Positive
Mar 18, 2026
On March 18, 2026, M-tron Industries, Inc. announced a transferable subscription rights offering aimed at raising up to approximately $42.7 million to enhance financial flexibility amid rapid changes in the U.S. defense sector. The move reflects m...
Business Operations and StrategyPrivate Placements and Financing
M-tron Industries Expands Credit Facilities to Support Growth
Positive
Jan 7, 2026
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 purpos...
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.