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Originally founded in 1965, M-tron Industries, Inc. is engaged in the designing, manufacturing and marketing of highly engineered, high reliability frequency and spectrum control products used to control the frequency or timing of signals in electronic circuits in various applications. Mtron's primary markets are aerospace and defense, avionics, industrials, and space.
18.91% operating margin is respectable but not wide. ROIC at 16.44%. Suggests the business covers its cost of capital, but doesn't point to a wide moat.
Revenue grew 11.0%, still solid.
ROIC dropped from 28.30% to 16.44%, capital efficiency is deteriorating.
Profitability & Returns
Revenue (TTM)
$56M
▲ +11.0% YoY
Net Income (TTM)
$9M
▲ +10.6% YoY
Op. Margin
19.31%
▼ -0.3pp YoY
ROIC
16.08%
▼ -11.9pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$9M
▲ +44.2% YoY
Op. Cash Flow (TTM)
$11M
▲ +41.7% YoY
Net Debt
-$52M
Net Cash Position
Cash & Equiv.
$52M
3Y CAGR: +19.6%
3Y CAGR: +94.3%
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