M-tron Industries Inc (MPTI)
XASE:MPTI
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M-tron Industries Inc
(NYSE MKT:MPTI)
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Rating:82Outperform
Price Target:
$86.00
▲(28.82% Upside)
Action:Reiterated
Date:05/14/26
The score is driven primarily by strong financial performance (high margins, strong cash generation, and an exceptionally conservative balance sheet) and supportive technical uptrend. Guidance/backlog strength adds confidence, while valuation (P/E ~24.5 with no dividend yield) and dilution/margin-headwind risks temper the upside.
Positive Factors
Conservative Balance Sheet
Extremely low leverage provides durable financial flexibility: near-zero debt minimizes solvency risk, preserves borrowing capacity and allows funding of capex, M&A or cyclical shortfalls from equity/cash. This structural strength supports multi-year growth planning without balance-sheet stress.
Negative Factors
Margin Pressure (Tariffs & Mix)
Tariff-driven cost increases and unfavorable product mix have trimmed gross margins, and tariff exposure remains a moving target. Persistent mix shifts from new product introductions or sustained trade costs could structurally compress margins and limit the company’s ability to expand operating leverage over time.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative Balance Sheet
Extremely low leverage provides durable financial flexibility: near-zero debt minimizes solvency risk, preserves borrowing capacity and allows funding of capex, M&A or cyclical shortfalls from equity/cash. This structural strength supports multi-year growth planning without balance-sheet stress.
Read all positive factors
M-tron Industries Inc (MPTI) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$343.12M
Dividend YieldN/A
Average Volume (3M)97.22K
Price to Earnings (P/E)24.5
Beta (1Y)1.23
Revenue Growth11.50%
EPS Growth9.24%
CountryUS
Employees226
SectorTechnology
Sector Strength88
IndustryHardware, Equipment & Parts
Share Statistics
EPS (TTM)3.03
Shares Outstanding4,321,443
10 Day Avg. Volume73,501
30 Day Avg. Volume97,220
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 Cap0.55
Enterprise Value/Revenue3.36
Enterprise Value/Gross Profit7.47
Enterprise Value/Ebitda15.47
Forecast
1Y Price Target
$83.00Price Target Upside24.33% Upside
Rating ConsensusHold
Number of Analyst Covering2
EPS Forecast (FY)2.46
Revenue Forecast (FY)$59.17M
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:Aug 19, 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
94
Very Positive
Cash Flow
83
Very Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 56.37M | 54.42M | 49.01M | 41.17M | 31.84M | 26.69M |
| Gross Profit | 25.34M | 24.15M | 22.64M | 16.77M | 11.35M | 9.34M |
| EBITDA | 12.24M | 11.38M | 10.37M | 5.15M | 3.60M | 2.66M |
| Net Income | 9.21M | 8.45M | 7.64M | 3.49M | 1.80M | 1.58M |
Balance Sheet | ||||||
| Total Assets | 79.30M | 68.38M | 36.49M | 24.30M | 19.27M | 20.01M |
| Cash, Cash Equivalents and Short-Term Investments | 51.96M | 20.89M | 12.64M | 3.91M | 926.00K | 2.63M |
| Total Debt | 128.00K | 148.00K | 9.00K | 97.00K | 147.00K | 145.00K |
| Total Liabilities | 6.24M | 5.17M | 5.22M | 4.41M | 4.93M | 3.16M |
| Stockholders Equity | 73.05M | 63.22M | 31.27M | 19.89M | 14.34M | 16.85M |
Cash Flow | ||||||
| Free Cash Flow | 8.75M | 8.11M | 5.62M | 3.12M | 1.11M | 1.86M |
| Operating Cash Flow | 11.17M | 10.66M | 7.52M | 4.41M | 2.04M | 2.96M |
| Investing Cash Flow | -2.42M | -2.55M | -1.90M | -1.28M | -936.00K | -1.10M |
| Financing Cash Flow | 29.54M | 142.00K | 3.10M | -137.00K | -2.81M | -1.68M |
M-tron Industries Inc Technical Analysis
Positive
66.76
Price Trends
65.52
Positive
61.08
Positive
54.57
Positive
Market Momentum
0.43
Positive
50.34
Neutral
27.03
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 66.76 is below the 20-day moving average (MA) of 67.34, above the 50-day MA of 65.52, and above the 200-day MA of 54.57, indicating a neutral trend. The MACD of 0.43 indicates Positive momentum. The RSI at 50.34 is Neutral, neither overbought nor oversold. The STOCH value of 27.03 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 | $343.12M | 24.47 | 17.69% | ― | 11.50% | 9.24% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
61 Neutral | $243.44M | 42.82 | 2.37% | 2.25% | 4.82% | ― | |
57 Neutral | $82.65M | -72.19 | 0.15% | ― | 41.39% | ― | |
55 Neutral | $166.53M | -0.97 | -56.90% | ― | 62.35% | -46.70% | |
50 Neutral | $55.60M | -34.25 | -16.71% | ― | 9.64% | 45.26% | |
47 Neutral | $81.52M | 28.47 | -314.53% | ― | 114.02% | 72.01% |
* Technology Sector Average
MPTI
M-tron Industries Inc
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63.95%
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M-tron Industries Inc Corporate Events
Business Operations and Strategy
M-tron Industries Posts Investor Day Presentation Materials Online
Neutral
May 14, 2026
On May 14, 2026, M-tron Industries, Inc. announced that it had made available the slide deck used for its Investor Day presentation held on May 12, 2026, posting the materials on its investor relations website for broader access. The company empha...
Business Operations and StrategyFinancial DisclosuresPrivate Placements and Financing
M-tron Industries Reports Strong Q1 Results, Strengthened Outlook
Positive
May 8, 2026
M-tron Industries, Inc. reported strong first quarter 2026 results on May 7, 2026, with revenue rising 15.3% year-on-year to $14.7 million, driven mainly by robust defense and avionics shipments. Gross margin improved to 44.9% from 42.5%, while ne...
Business Operations and StrategyPrivate Placements and Financing
M-tron Industries Completes $42 Million Rights Offering
Positive
Apr 27, 2026
On April 27, 2026, M-tron Industries, Inc. announced it had completed its previously disclosed rights offering, which expired on April 20, 2026, raising approximately $42.1 million in proceeds. The company said the capital will support efforts to ...
Private Placements and Financing
M-tron Industries Announces Oversubscribed Rights Offering Results
Positive
Apr 21, 2026
On April 21, 2026, M-tron Industries, Inc. reported preliminary results of its rights offering, which ran from March 31 to April 20, 2026 and was oversubscribed. Rights holders exercised basic subscription rights for 540,049 common shares and requ...
Private Placements and Financing
M-tron Industries Extends Expiration of Stock Rights Offering
Positive
Apr 9, 2026
On April 9, 2026, M-tron Industries, Inc. announced that it had extended the expiration of its previously launched rights offering for common stock, originally distributed on March 30, 2026, from April 15 to 5:00 p.m. Eastern Time on April 20, 202...
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...
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.