Trio-Tech International (TRT) AI Stock Analysis

• Market Cap: $59.17M
• Dividend Yield: N/A
• Average Volume (3M): 24.61K
• Price to Earnings (P/E): 229.7
• Beta (1Y): 0.29
• Revenue Growth: 0.10%
• EPS Growth: -54.98%
• Country: US
• Employees: 673
• Sector: Technology
• Sector Strength: 88
• Industry: Semiconductors
• EPS (TTM): <0.01
• Shares Outstanding: 8,701,110
• 10 Day Avg. Volume: 49,918
• 30 Day Avg. Volume: 24,607
• PEG Ratio: 2.72
• Price to Book (P/B): 0.34
• Price to Sales (P/S): 0.32
• P/FCF Ratio: -19.42
• Enterprise Value/Market Cap: 0.03
• Enterprise Value/Revenue: 0.04
• Enterprise Value/Gross Profit: 0.19
• Enterprise Value/Ebitda: 0.56
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 59 Neutral
• Price Target: $8.00 ▲(18.34% Upside)

The score is primarily driven by solid financial stability and improving revenue/gross margins, plus strong technical trend signals. This is meaningfully offset by weak cash-flow momentum and very expensive valuation (P/E 253.04), with corporate events providing only a modest positive lift.

Positive Factors

Revenue growth and gross margin expansion

Sustained TTM revenue growth and a material gross margin improvement point to durable demand for testing and packaging services and better cost control. This supports long-term scalability of core operations and creates structural room to improve operating margins as volumes rise.

Very low leverage / strong balance sheet

Extremely low leverage reduces refinancing and bankruptcy risk and enhances strategic optionality. It gives management capacity to invest in capital equipment, R&D, or M&A without stressing cash flow, increasing resilience across semiconductor cycles over the next several quarters.

Acquisition completes Malaysian consolidation

Taking full ownership of the Malaysian subsidiary enables operational integration, clearer decision-making and potential cost synergies. Consolidation can raise capacity utilization and strengthen regional customer relationships, improving structural competitiveness in Asia.

Negative Factors

Sharp free cash flow decline

A very large fall in FCF growth signals inconsistent cash conversion, limiting the firm’s ability to fund capex, repay obligations, or pursue strategic investments internally. Persistently weak cash generation would constrain growth and increase reliance on external financing.

Thin net profitability

Very low net margins indicate difficulty converting revenue into lasting profits, leaving the business exposed to cost swings and pricing pressure. Without structural margin expansion, revenue growth may not translate into meaningful earnings or free cash flow over the medium term.

Low return on equity

A low ROE implies the company is not efficiently generating returns on invested capital. Over multiple quarters this can signal underutilized assets or weak pricing power, reducing attractiveness for reinvestment and constraining long-term shareholder value creation.

Trio-Tech International Business Overview & Revenue Model

Company Description

Trio-Tech International, together with its subsidiaries, provides manufacturing, testing, and distribution services to the semiconductor industry. The company's Testing Services segment offers stabilization bake, thermal shock, temperature cycling, mechanical shock, constant acceleration, gross and fine leak, electrical, static and dynamic burn-in, and vibration testing, as well as reliability lab and microprocessor equipment contract cleaning services. This segment also provides qualification testing services that test small samples of output from manufacturers for qualification of their processes and devices. Its Manufacturing segment manufactures front-end semiconductor test equipment, such as artic temperature-controlled wafer chucks used for test, characterization, and failure analysis of semiconductor wafers and other components; and wet process stations for cleaning, rinsing, and drying semiconductor wafers, flat panel display magnetic disks, and other microelectronic substrates. This segment also manufactures back-end products comprising autoclaves and highly accelerated stress test equipment; burn-in equipment and boards; and component centrifuges and leak detection equipment. The company's Distribution segment distributes complementary products, including environmental chambers, handlers, interface systems, vibration systems, shaker systems, solderability testers, and other semiconductor equipment, as well as components, such as connectors, sockets, LCD display panels, and touch-screen panels. Its Real Estate segment invests in and rents real estate properties. The company primarily serves semiconductor chip manufacturers or testing facilities that purchase testing equipment. The company operates in the United States, Singapore, Malaysia, Thailand, and China. Trio-Tech International was incorporated in 1958 and is headquartered in Van Nuys, California.

How the Company Makes Money

Trio-Tech International generates revenue through several key streams. Primarily, the company earns income from its semiconductor test services, where clients pay for the testing and validation of their semiconductor products. Additionally, TRT's burn-in services, which involve stressing semiconductor devices to identify potential issues before market release, contribute significantly to its earnings. The sale of advanced packaging solutions and test equipment also forms a crucial part of their revenue model. Strategic partnerships with major semiconductor manufacturers and technology firms enhance TRT's market presence and drive consistent business growth. Furthermore, the company may benefit from long-term contracts with clients, providing a steady stream of income and increasing operational stability.

Trio-Tech International Financial Statement Overview

Summary

Revenue growth is strong (TTM +15.67%) and gross margin improved (35.27%), supported by a low leverage balance sheet (debt-to-equity 0.023). Offsetting this, net profitability is thin (net margin 1.82%) and free cash flow growth is sharply negative (TTM -471.98%), indicating uneven cash generation.

Income Statement

Trio-Tech International shows a positive revenue growth rate of 15.67% in the TTM period, indicating a strong recovery from previous declines. The gross profit margin improved significantly to 35.27%, reflecting better cost management. However, the net profit margin remains low at 1.82%, suggesting challenges in converting revenue into net income. The EBIT and EBITDA margins are also relatively low, indicating room for improvement in operational efficiency.

Balance Sheet

The company maintains a strong balance sheet with a low debt-to-equity ratio of 0.023, indicating minimal leverage and financial risk. The return on equity is modest at 1.47%, suggesting limited profitability relative to shareholder equity. The equity ratio is healthy, reflecting a solid capital structure with a significant portion of assets financed by equity.

Cash Flow

Cash flow performance is mixed, with a significant decline in free cash flow growth (-471.98%) in the TTM period, raising concerns about cash generation. The operating cash flow to net income ratio is 0.26, indicating moderate cash flow efficiency. The free cash flow to net income ratio is relatively strong at 0.70, suggesting that a good portion of net income is converted into free cash flow.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	42.19M	36.47M	42.31M	43.25M	44.06M	32.46M
Gross Profit	9.41M	9.14M	10.76M	11.71M	11.73M	7.67M
EBITDA	3.18M	2.96M	5.94M	7.58M	6.25M	2.29M
Net Income	272.00K	-41.00K	1.05M	1.54M	2.40M	-591.00K
Balance Sheet
Total Assets	47.38M	41.07M	42.54M	42.19M	43.42M	38.31M
Cash, Cash Equivalents and Short-Term Investments	18.18M	16.71M	16.53M	14.21M	13.12M	12.49M
Total Debt	2.06M	1.73M	2.85M	4.11M	6.06M	4.46M
Total Liabilities	13.23M	7.08M	10.96M	12.62M	15.42M	12.25M
Stockholders Equity	34.06M	34.03M	31.33M	29.41M	27.87M	25.63M
Cash Flow
Free Cash Flow	2.22M	-596.00K	2.17M	3.61M	655.00K	526.00K
Operating Cash Flow	3.16M	371.00K	2.72M	8.11M	2.12M	1.64M
Investing Cash Flow	738.00K	167.00K	-113.00K	-6.07M	-444.00K	-567.00K
Financing Cash Flow	-166.00K	-40.00K	-90.00K	-1.24M	911.00K	-2.00K

Trio-Tech International Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 6.76
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TRT, the sentiment is Positive. The current price of 6.76 is above the 20-day moving average (MA) of 6.43, above the 50-day MA of 4.99, and above the 200-day MA of 3.36, indicating a bullish trend. The MACD of 0.58 indicates Positive momentum. The RSI at 62.39 is Neutral, neither overbought nor oversold. The STOCH value of 51.42 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TRT.

Trio-Tech International Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ASYS	66 Neutral	$199.27M	-6.54	-44.68%	―	-21.59%	-254.69%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
TRT	59 Neutral	$59.17M	229.73	0.84%	―	0.10%	-54.98%
INTT	56 Neutral	$99.99M	-43.04	-2.24%	―	-2.20%	-204.45%
LEDS	49 Neutral	$16.26M	-13.10	-45.37%	―	729.81%	61.92%
PXLW	47 Neutral	$42.73M	-1.44	―	―	-38.72%	16.01%
SQNS	43 Neutral	$90.12M	―	-18.19%	―	2.80%	―

Trio-Tech International Corporate Events

Trio-Tech International Implements Two-for-One Forward Stock Split

On December 19, 2025, Trio-Tech International’s board approved a two-for-one forward stock split of the company’s common stock, with the split formally implemented through an amendment to its Articles of Incorporation filed on December 31, 2025 and becoming effective at 12:01 a.m. Eastern Time on January 1, 2026; trading on a split-adjusted basis was scheduled to begin on January 5, 2026. The split doubled each shareholder’s number of issued and outstanding common shares, with equivalent adjustments made to outstanding stock options by doubling the shares underlying each option and halving the exercise price, while leaving authorized share capital, par value, percentage ownership, voting power, and shareholder rights unchanged, and was carried out under California law without requiring separate shareholder approval.

The most recent analyst rating on (TRT) stock is a Hold with a $14.50 price target. To see the full list of analyst forecasts on Trio-Tech International stock, see the TRT Stock Forecast page.

Trio-Tech International Announces 2-for-1 Forward Stock Split

On December 19, 2025, Trio-Tech International announced that its board had approved a 2-for-1 forward stock split of its outstanding common stock, to be implemented via an amendment to its Articles of Incorporation. Shareholders of record at the close of trading on December 29, 2025, are scheduled to receive one additional share for each share held after the close on January 2, 2026, with trading expected to begin on a split-adjusted basis on January 5, 2026, and fractional shares to be rounded up. The company’s chairman and CEO framed the move as a signal of confidence in Trio-Tech’s long-term growth prospects and a step toward improving share liquidity and making the stock more accessible to a broader investor base, potentially enhancing market participation and shareholder value without changing the total authorized share count.

The most recent analyst rating on (TRT) stock is a Hold with a $10.00 price target. To see the full list of analyst forecasts on Trio-Tech International stock, see the TRT Stock Forecast page.

Trio-Tech Elects Directors at Annual Meeting

On December 10, 2025, Trio-Tech International, Inc. held its 2025 Annual Meeting of Stockholders where several key proposals were voted upon. Stockholders elected S. W. Yong, Richard M. Horowitz, Victor H. M. Ting, and Jason T. Adelman as Directors. They also approved, on a non-binding advisory basis, the executive compensation and decided to hold advisory votes on executive compensation every three years. Additionally, the appointment of Mazars LLP as the independent registered public accounting firm for the fiscal year ending June 30, 2026, was ratified.

The most recent analyst rating on (TRT) stock is a Hold with a $10.00 price target. To see the full list of analyst forecasts on Trio-Tech International stock, see the TRT Stock Forecast page.

Trio-Tech Completes Acquisition of Malaysian Subsidiary

On December 3, 2025, Trio-Tech International, through its subsidiary Trio-Tech International Pte. Ltd., completed the acquisition of the remaining 50% equity interest in Trio-Tech (Malaysia) Sdn. Bhd., making it a wholly-owned subsidiary. This strategic move consolidates Trio-Tech’s operations in Malaysia, potentially strengthening its market position and operational efficiency.

The most recent analyst rating on (TRT) stock is a Hold with a $9.00 price target. To see the full list of analyst forecasts on Trio-Tech International stock, see the TRT Stock Forecast page.