NASDAQ : NSYS
Nortech Systems Incorporated — Financial statements
Healthcare · Medical Devices · United States
Last price 10.4 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 29.68M
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Nortech Systems Incorporated (NSYS) reported revenue of 124.65M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 124.65M | 118.36M | 128.13M | 139.33M | 134.12M | 115.17M |
| Cost of Revenue | 104.16M | 100.36M | 111.41M | 116.23M | 113.64M | 99.30M |
| Gross Profit | 20.50M | 18.01M | 16.72M | 23.10M | 20.48M | 15.86M |
| Selling, General & Admin | 16.78M | 15.59M | 15.15M | 15.95M | 15.14M | 12.36M |
| Research & Development | 1.20M | 1.17M | 1.19M | 1.20M | 1.46M | 483.00K |
| Operating Expenses | 17.98M | 16.77M | 16.35M | 17.15M | 16.61M | 12.85M |
| Operating Income | 2.52M | 1.24M | 376.00K | 5.95M | 3.87M | 3.02M |
| Interest Expense | -946.00K | -964.00K | -744.00K | -487.00K | -411.00K | -430.00K |
| EBT Excluding Unusual Items | 1.57M | 277.00K | -368.00K | 5.47M | 3.46M | 2.59M |
| Merger & Restructuring Charges | -266.00K | -571.00K | -327.00K | |||
| Gain (Loss) on Sale of Assets | 15.00K | 141.00K | ||||
| Asset Writedown | -560.00K | |||||
| Other Unusual Items | 6.17M | |||||
| Pretax Income | 1.57M | 11.00K | -939.00K | 5.47M | 3.48M | 8.01M |
| Income Tax Expense | 537.00K | 263.00K | 356.00K | -1.41M | 1.47M | 859.00K |
| Net Income | 1.03M | -252.00K | -1.29M | 6.87M | 2.01M | 7.15M |
| Net Income to Common | 1.03M | -252.00K | -1.29M | 6.87M | 2.01M | 7.15M |
| Shares Outstanding (Basic) | 2.79M | 2.78M | 2.76M | 2.72M | 2.69M | 2.66M |
| Shares Outstanding (Diluted) | 2.90M | 2.78M | 2.76M | 2.89M | 2.89M | 2.82M |
| EPS (Basic) | 0.37 | -0.09 | -0.47 | 2.53 | 0.75 | 2.68 |
| EPS (Diluted) | 0.35 | -0.09 | -0.47 | 2.38 | 0.70 | 2.54 |
| Free Cash Flow | 2.45M | 2.08M | -3.52M | 485.00K | 3.03M | -5.83M |
| Free Cash Flow Per Share | 0.85 | 0.75 | -1.28 | 0.17 | 1.05 | -2.07 |
| Gross Margin | 16.44% | 15.21% | 13.05% | 16.58% | 15.27% | 13.78% |
| Operating Margin | 2.02% | 1.05% | 0.29% | 4.27% | 2.89% | 2.62% |
| Profit Margin | 0.83% | -0.21% | -1.01% | 4.93% | 1.50% | 6.21% |
| Free Cash Flow Margin | 1.97% | 1.76% | -2.75% | 0.35% | 2.26% | -5.06% |
| EBITDA | 3.74M | 2.53M | 2.11M | 8.00M | 5.79M | 4.97M |
| EBITDA Margin | 3.00% | 2.14% | 1.65% | 5.74% | 4.32% | 4.31% |
| D&A For EBITDA | 1.23M | 1.29M | 1.74M | 2.05M | 1.92M | 1.95M |
| EBIT | 2.52M | 1.24M | 376.00K | 5.95M | 3.87M | 3.02M |
| EBIT Margin | 2.02% | 1.05% | 0.29% | 4.27% | 2.89% | 2.62% |
| Effective Tax Rate | 34.20% | 2,390.91% | 42.19% | 10.72% | ||
| Advertising Expenses | 114.00K | 83.00K | 84.00K | 63.00K | 57.00K |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 1.38M | 1.66M | 916.00K | 960.00K | 1.03M | 643.00K |
| Cash & Short-Term Investments | 1.38M | 1.66M | 916.00K | 960.00K | 1.03M | 643.00K |
| Accounts Receivable | 36.83M | 32.18M | 28.67M | 33.76M | 25.96M | 23.25M |
| Other Receivables | 2.65M | 5.21M | ||||
| Receivables | 36.83M | 32.18M | 28.67M | 33.76M | 28.61M | 28.45M |
| Inventory | 24.51M | 20.70M | 21.64M | 21.66M | 22.44M | 19.43M |
| Prepaid Expenses | 1.28M | 1.62M | 4.09M | 1.70M | 1.33M | 1.66M |
| Restricted Cash | 294.00K | 715.00K | 1.45M | 1.58M | ||
| Total Current Assets | 64.29M | 56.15M | 55.31M | 58.79M | 54.86M | 51.77M |
| Property, Plant & Equipment | 11.40M | 12.22M | 14.37M | 13.43M | 14.26M | 14.82M |
| Other Intangible Assets | 147.00K | 156.00K | 174.00K | 263.00K | 422.00K | 501.00K |
| Long-Term Deferred Tax Assets | 3.96M | 3.39M | 2.58M | 2.64M | ||
| Long-Term Deferred Charges | 244.00K | |||||
| Total Assets | 80.05M | 71.92M | 72.44M | 75.13M | 69.54M | 67.09M |
| Accounts Payable | 14.95M | 12.81M | 11.58M | 15.92M | 14.79M | 12.71M |
| Accrued Expenses | 4.45M | 3.04M | 3.39M | 5.20M | 6.55M | 7.95M |
| Current Portion of Long-Term Debt | 8.30M | 7.00M | ||||
| Current Portion of Leases | 1.49M | 1.61M | 1.32M | 1.39M | 1.54M | 1.64M |
| Other Current Liabilities | 5.39M | 5.14M | 4.07M | 3.52M | ||
| Total Current Liabilities | 36.04M | 29.84M | 21.43M | 26.58M | 26.40M | 22.31M |
| Long-Term Debt | 1.64M | 8.63M | 5.82M | 6.85M | 8.96M | |
| Long-Term Leases | 6.46M | 7.10M | 8.08M | 6.97M | 8.11M | 9.61M |
| Long-Term Deferred Tax Liabilities | 360.00K | 219.00K | ||||
| Other Long-Term Liabilities | 434.00K | 66.00K | 65.00K | 414.00K | 95.00K | 104.00K |
| Total Liabilities | 44.57M | 37.37M | 38.43M | 39.78M | 41.46M | 40.98M |
| Common Stock | 29.00K | 28.00K | 28.00K | 27.00K | 27.00K | 27.00K |
| Additional Paid-In Capital | 18.41M | 17.86M | 17.33M | 16.93M | 16.35M | 15.96M |
| Retained Earnings | 17.41M | 17.12M | 17.38M | 18.67M | 11.83M | 9.82M |
| Comprehensive Income & Other | -619.00K | -709.00K | -977.00K | -532.00K | -370.00K | 56.00K |
| Total Common Equity | 35.22M | 34.30M | 33.76M | 35.09M | 27.83M | 25.86M |
| Shareholders' Equity | 35.47M | 34.55M | 34.01M | 35.34M | 28.08M | 26.11M |
| Total Liabilities & Equity | 80.05M | 71.92M | 72.44M | 75.13M | 69.54M | 67.09M |
| Total Debt | 17.89M | 15.71M | 18.04M | 14.18M | 16.51M | 20.21M |
| Net Cash (Debt) | -16.51M | -14.05M | -17.12M | -13.22M | -15.48M | -19.57M |
| Net Cash Per Share | -5.70 | -5.06 | -6.21 | -4.58 | -5.36 | -6.94 |
| Filing Date Shares Outstanding | 2.85M | 2.79M | 2.76M | 2.74M | 2.70M | 2.68M |
| Total Common Shares Outstanding | 2.85M | 2.79M | 2.76M | 2.69M | 2.69M | 2.67M |
| Working Capital | 28.26M | 26.31M | 33.89M | 32.21M | 28.46M | 29.47M |
| Book Value Per Share | 12.34 | 12.31 | 12.23 | 13.04 | 10.34 | 9.68 |
| Tangible Book Value | 35.08M | 34.14M | 33.58M | 34.83M | 27.41M | 25.36M |
| Tangible Book Value Per Share | 12.29 | 12.25 | 12.16 | 12.95 | 10.19 | 9.49 |
| Land | 148.00K | 148.00K | 148.00K | 148.00K | ||
| Buildings | 3.93M | 6.03M | 6.04M | 5.29M | 4.08M | |
| Machinery | 26.12M | 27.33M | 27.26M | 25.95M | 25.83M | |
| Order Backlog | 77.34M | 65.85M | 91.68M | 35.90M | 36.90M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 1.03M | -252.00K | -1.29M | 6.87M | 2.01M | 7.15M |
| Depreciation & Amortization | 1.23M | 1.29M | 1.74M | 2.05M | 1.92M | 1.95M |
| Loss (Gain) From Sale of Assets | -23.00K | -15.00K | -141.00K | |||
| Asset Writedown & Restructuring Costs | 560.00K | |||||
| Stock-Based Compensation | 588.00K | 503.00K | 461.00K | 423.00K | 334.00K | 254.00K |
| Provision & Write-off of Bad Debts | -52.00K | -35.00K | -162.00K | 24.00K | 6.00K | -15.00K |
| Other Operating Activities | -688.00K | -157.00K | 268.00K | -2.34M | -221.00K | -7.03M |
| Change in Accounts Receivable | -3.81M | -3.34M | 5.09M | -7.95M | -3.03M | -1.67M |
| Change in Inventory | -5.76M | 485.00K | -400.00K | 716.00K | -2.98M | -4.61M |
| Change in Accounts Payable | 3.13M | 1.35M | -3.96M | 483.00K | 2.22M | 1.47M |
| Change in Income Taxes | -29.00K | -29.00K | -333.00K | -832.00K | 643.00K | 634.00K |
| Change in Other Net Operating Assets | 6.00M | 2.94M | -3.64M | 2.31M | 4.53M | -3.10M |
| Operating Cash Flow | 3.07M | 2.74M | -2.25M | 1.77M | 5.40M | -4.54M |
| Capital Expenditures | -617.00K | -661.00K | -1.27M | -1.28M | -2.37M | -1.29M |
| Sale of Property, Plant & Equipment | 495.00K | 504.00K | 7.00K | 15.00K | 626.00K | |
| Sale (Purchase) of Intangibles | -71.00K | -64.00K | ||||
| Investing Cash Flow | -122.00K | -157.00K | -1.26M | -1.28M | -2.43M | -730.00K |
| Long-Term Debt Issued | 101.78M | 130.14M | 124.55M | 119.35M | 109.54M | |
| Long-Term Debt Repaid | -103.67M | -127.31M | -125.99M | -122.07M | -105.65M | |
| Net Debt Issued (Repaid) | -1.90M | -1.89M | 2.83M | -1.44M | -2.72M | 3.90M |
| Issuance of Common Stock | 235.00K | 23.00K | 38.00K | 159.00K | 51.00K | 35.00K |
| Repurchase of Common Stock | -100.00K | |||||
| Other Financing Activities | -290.00K | |||||
| Financing Cash Flow | -1.95M | -1.87M | 2.77M | -1.28M | -2.67M | 3.93M |
| Foreign Exchange Rate Adjustments | 28.00K | 20.00K | -11.00K | -10.00K | -53.00K | |
| Net Cash Flow | 1.02M | 739.00K | -759.00K | -806.00K | 256.00K | -1.34M |
| Free Cash Flow | 2.45M | 2.08M | -3.52M | 485.00K | 3.03M | -5.83M |
| Free Cash Flow Margin | 1.97% | 1.76% | -2.75% | 0.35% | 2.26% | -5.06% |
| Free Cash Flow Per Share | 0.85 | 0.75 | -1.28 | 0.17 | 1.05 | -2.07 |
| Levered Free Cash Flow | 3.04M | 2.34M | -950.00K | 945.25K | 3.46M | -4.30M |
| Unlevered Free Cash Flow | 3.63M | 2.94M | -485.00K | 1.25M | 3.72M | -4.03M |
| Cash Interest Paid | 734.00K | 925.00K | 764.00K | 503.00K | 476.00K | 316.00K |
| Cash Income Tax Paid | 227.00K | 751.00K | 473.00K | 1.75M | 237.00K | -114.00K |
| Change in Working Capital | 958.00K | 1.40M | -3.24M | -5.27M | 1.37M | -7.27M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 31.52M | 20.69M | 28.37M | 25.80M | 32.96M | 27.66M |
| Enterprise Value | 48.03M | 40.76M | 46.27M | 38.46M | 51.68M | 50.79M |
| Last Close Price | 10.40 | 7.42 | 10.29 | 9.42 | 12.25 | 10.35 |
| PE Ratio | 31.46 | 3.75 | 16.40 | 3.87 | ||
| PS Ratio | 0.25 | 0.17 | 0.22 | 0.18 | 0.25 | 0.24 |
| PB Ratio | 0.84 | 0.60 | 0.83 | 0.73 | 1.17 | 1.06 |
| P/TBV Ratio | 0.89 | 0.61 | 0.84 | 0.74 | 1.20 | 1.09 |
| P/FCF Ratio | 12.76 | 9.94 | 53.21 | 10.87 | ||
| P/OCF Ratio | 10.19 | 7.54 | 14.59 | 6.10 | ||
| EV/Sales Ratio | 0.38 | 0.34 | 0.36 | 0.28 | 0.39 | 0.44 |
| EV/EBITDA Ratio | 12.76 | 16.12 | 21.89 | 4.81 | 8.92 | 10.22 |
| EV/EBIT Ratio | 18.99 | 32.85 | 123.05 | 6.46 | 13.34 | 16.83 |
| EV/FCF Ratio | 19.50 | 19.58 | 79.30 | 17.04 | ||
| Debt / Equity Ratio | 0.50 | 0.46 | 0.53 | 0.40 | 0.59 | 0.77 |
| Debt / EBITDA Ratio | 2.90 | 3.21 | 4.07 | 1.38 | 2.04 | 2.78 |
| Debt / FCF Ratio | 7.30 | 7.54 | 29.23 | 5.45 | ||
| Net Debt / Equity Ratio | 0.47 | 0.41 | 0.50 | 0.37 | 0.55 | 0.75 |
| Net Debt / EBITDA Ratio | 4.41 | 5.56 | 8.10 | 1.65 | 2.67 | 3.94 |
| Net Debt / FCF Ratio | 6.74 | 6.75 | -4.86 | 27.25 | 5.11 | -3.36 |
| Asset Turnover | 1.61 | 1.64 | 1.74 | 1.93 | 1.96 | 1.85 |
| Inventory Turnover | 4.83 | 4.74 | 5.15 | 5.27 | 5.43 | 5.96 |
| Quick Ratio | 1.06 | 1.13 | 1.38 | 1.31 | 1.12 | 1.30 |
| Current Ratio | 1.78 | 1.88 | 2.58 | 2.21 | 2.08 | 2.32 |
| Return on Equity (ROE) | 3.00% | -0.73% | -3.74% | 21.68% | 7.42% | 31.92% |
| Return on Assets (ROA) | 2.03% | 1.07% | 0.32% | 5.14% | 3.54% | 3.02% |
| Return on Invested Capital (ROIC) | 3.22% | -57.02% | 0.75% | 12.92% | 5.02% | 6.28% |
| Return on Capital Employed (ROCE) | 5.70% | 2.90% | 0.70% | 12.30% | 9.00% | 6.70% |
| Earnings Yield | 3.18% | -1.22% | -4.57% | 26.64% | 6.10% | 25.87% |
| FCF Yield | 7.84% | 10.06% | -12.41% | 1.88% | 9.20% | -21.09% |
| Buyback Yield / Dilution | -4.84% | -0.78% | 4.53% | 0.19% | -2.47% | -6.16% |