NYSE : CTS
CTS Corporation — Financial statements
Technology · Electronic Components · United States
Last price 61.26 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 1.75B
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Financial statements
CTS Corporation (CTS) reported revenue of 570.86M 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 | 570.86M | 541.32M | 514.76M | 550.42M | 586.87M | 512.92M |
| Cost of Revenue | 338.97M | 333.29M | 329.29M | 359.56M | 372.14M | 328.31M |
| Gross Profit | 231.89M | 208.03M | 185.47M | 190.86M | 214.73M | 184.62M |
| Selling, General & Admin | 110.21M | 98.94M | 88.61M | 83.93M | 89.71M | 88.95M |
| Research & Development | 21.95M | 25.27M | 23.39M | 24.92M | 24.10M | 23.86M |
| Operating Expenses | 132.15M | 124.21M | 112.00M | 108.85M | 113.81M | 112.81M |
| Operating Income | 99.74M | 83.81M | 73.47M | 82.01M | 100.92M | 71.81M |
| Interest Expense | -2.95M | -4.31M | -4.24M | -3.33M | -2.19M | -2.11M |
| Interest & Investment Income | 2.36M | 2.13M | 4.28M | 4.62M | 1.33M | 840.00K |
| Currency Exchange Gain (Loss) | 113.00K | 1.27M | -1.69M | -1.98M | -4.88M | -3.31M |
| Other Non Operating Income (Expenses) | 14.77M | 2.25M | -637.00K | 902.00K | -8.34M | -126.43M |
| EBT Excluding Unusual Items | 114.03M | 85.17M | 71.19M | 82.23M | 86.84M | -59.19M |
| Merger & Restructuring Charges | -1.32M | -1.40M | -2.61M | -7.07M | -6.10M | -1.69M |
| Other Unusual Items | -1.63M | |||||
| Pretax Income | 111.08M | 83.77M | 68.58M | 75.15M | 80.74M | -60.88M |
| Income Tax Expense | 37.23M | 18.45M | 13.11M | 14.62M | 21.16M | -19.01M |
| Net Income | 73.85M | 65.32M | 55.47M | 60.53M | 59.58M | -41.87M |
| Net Income to Common | 73.85M | 65.32M | 55.47M | 60.53M | 59.58M | -41.87M |
| Shares Outstanding (Basic) | 28.69M | 29.51M | 30.41M | 31.36M | 31.97M | 32.33M |
| Shares Outstanding (Diluted) | 29.03M | 29.81M | 30.72M | 31.58M | 32.24M | 32.33M |
| EPS (Basic) | 2.57 | 2.21 | 1.82 | 1.93 | 1.86 | -1.30 |
| EPS (Diluted) | 2.54 | 2.19 | 1.81 | 1.92 | 1.85 | -1.30 |
| Free Cash Flow | 108.31M | 86.37M | 79.60M | 74.07M | 106.86M | 70.50M |
| Free Cash Flow Per Share | 3.73 | 2.90 | 2.59 | 2.35 | 3.31 | 2.18 |
| Dividend Per Share | 0.16 | 0.16 | 0.16 | 0.16 | 0.16 | 0.16 |
| Gross Margin | 40.62% | 38.43% | 36.03% | 34.67% | 36.59% | 35.99% |
| Operating Margin | 17.47% | 15.48% | 14.27% | 14.90% | 17.20% | 14.00% |
| Profit Margin | 12.94% | 12.07% | 10.78% | 11.00% | 10.15% | -8.16% |
| Free Cash Flow Margin | 18.97% | 15.96% | 15.46% | 13.46% | 18.21% | 13.74% |
| EBITDA | 134.73M | 118.35M | 104.39M | 110.72M | 130.68M | 98.74M |
| EBITDA Margin | 23.60% | 21.86% | 20.28% | 20.12% | 22.27% | 19.25% |
| D&A For EBITDA | 34.99M | 34.54M | 30.92M | 28.71M | 29.75M | 26.93M |
| EBIT | 99.74M | 83.81M | 73.47M | 82.01M | 100.92M | 71.81M |
| EBIT Margin | 17.47% | 15.48% | 14.27% | 14.90% | 17.20% | 14.00% |
| Effective Tax Rate | 33.52% | 22.03% | 19.11% | 19.45% | 26.21% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 143.88M | 82.30M | 94.33M | 163.88M | 156.91M | 141.47M |
| Trading Asset Securities | 634.00K | 455.00K | 792.00K | 1.12M | 1.56M | |
| Cash & Short-Term Investments | 144.51M | 82.75M | 95.13M | 165.00M | 158.47M | 141.47M |
| Receivables | 105.85M | 98.30M | 84.93M | 82.07M | 93.50M | 86.69M |
| Inventory | 62.35M | 52.85M | 52.31M | 60.03M | 62.26M | 49.51M |
| Other Current Assets | 16.22M | 18.80M | 9.80M | 12.25M | 11.53M | 11.43M |
| Total Current Assets | 328.95M | 252.71M | 242.17M | 319.35M | 325.76M | 289.09M |
| Property, Plant & Equipment | 117.65M | 112.28M | 117.30M | 119.02M | 120.00M | 118.47M |
| Long-Term Investments | 8.82M | 8.99M | 12.09M | 14.10M | 1.43M | |
| Goodwill | 207.40M | 209.61M | 201.30M | 157.64M | 152.36M | 109.80M |
| Other Intangible Assets | 139.53M | 153.56M | 163.88M | 103.96M | 108.05M | 69.89M |
| Long-Term Deferred Tax Assets | 17.74M | 25.11M | 27.59M | 25.18M | 23.46M | 25.41M |
| Other Long-Term Assets | 2.00M | 2.05M | 1.09M | 1.93M | 17.42M | 51.80M |
| Total Assets | 822.09M | 764.31M | 765.43M | 741.17M | 748.49M | 664.46M |
| Accounts Payable | 50.58M | 48.22M | 42.63M | 43.50M | 53.21M | 55.54M |
| Accrued Expenses | 50.72M | 46.30M | 42.05M | 38.10M | 41.29M | 43.40M |
| Current Portion of Long-Term Debt | 747.00K | 357.00K | 437.00K | |||
| Current Portion of Leases | 4.36M | 3.45M | 4.72M | 4.39M | 3.94M | 3.39M |
| Current Income Taxes Payable | 18.20M | 7.17M | 5.42M | 6.90M | 9.63M | 6.76M |
| Other Current Liabilities | 2.99M | 4.54M | 3.65M | 3.40M | 4.11M | 4.54M |
| Total Current Liabilities | 126.84M | 109.69M | 98.46M | 97.04M | 112.53M | 114.07M |
| Long-Term Debt | 55.00M | 57.50M | 92.30M | 67.50M | 83.67M | 50.35M |
| Long-Term Leases | 29.41M | 21.84M | 21.12M | 24.96M | 21.75M | 21.35M |
| Pension & Post-Retirement Benefits | 3.66M | 3.70M | 3.93M | 4.66M | 5.05M | 6.89M |
| Long-Term Deferred Tax Liabilities | 13.16M | 12.80M | 12.74M | 14.73M | 16.01M | 5.89M |
| Other Long-Term Liabilities | 7.30M | 7.00M | 8.66M | 5.46M | 3.25M | 2.33M |
| Total Liabilities | 235.37M | 212.53M | 237.22M | 214.34M | 242.26M | 200.88M |
| Common Stock | 326.89M | 324.98M | 321.98M | 319.27M | 316.80M | 314.62M |
| Additional Paid-In Capital | 46.04M | 43.30M | 44.66M | 45.10M | 46.14M | 42.55M |
| Retained Earnings | 764.16M | 713.47M | 652.85M | 602.23M | 546.70M | 492.24M |
| Treasury Stock | -559.06M | -543.71M | -487.02M | -444.04M | -402.75M | -381.31M |
| Comprehensive Income & Other | 8.70M | 13.75M | -4.27M | 4.26M | -671.00K | -4.53M |
| Shareholders' Equity | 586.72M | 551.79M | 528.21M | 526.82M | 506.22M | 463.58M |
| Total Liabilities & Equity | 822.09M | 764.31M | 765.43M | 741.17M | 748.49M | 664.46M |
| Total Debt | 88.77M | 82.79M | 118.14M | 97.61M | 109.72M | 75.54M |
| Net Cash (Debt) | 62.48M | 8.95M | -11.63M | 80.78M | 48.75M | 65.93M |
| Net Cash Per Share | 2.15 | 0.30 | -0.38 | 2.56 | 1.51 | 2.04 |
| Filing Date Shares Outstanding | 28.50M | 28.70M | 30.04M | 30.79M | 31.67M | 32.15M |
| Total Common Shares Outstanding | 28.51M | 28.76M | 30.03M | 30.82M | 31.68M | 32.18M |
| Working Capital | 202.10M | 143.02M | 143.71M | 222.31M | 213.23M | 175.02M |
| Book Value Per Share | 20.58 | 19.19 | 17.59 | 17.09 | 15.98 | 14.41 |
| Tangible Book Value | 239.79M | 188.61M | 163.02M | 265.23M | 245.81M | 283.89M |
| Tangible Book Value Per Share | 8.41 | 6.56 | 5.43 | 8.60 | 7.76 | 8.82 |
| Land | 399.00K | 399.00K | 399.00K | 536.00K | 1.10M | 1.09M |
| Buildings | 74.43M | 73.25M | 73.01M | 74.19M | 71.94M | 69.61M |
| Machinery | 284.72M | 276.42M | 265.95M | 261.44M | 258.16M | 247.71M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 73.85M | 65.32M | 55.47M | 60.53M | 59.58M | -41.87M |
| Depreciation & Amortization | 34.99M | 34.54M | 30.92M | 28.71M | 29.75M | 26.93M |
| Asset Writedown & Restructuring Costs | 1.48M | |||||
| Stock-Based Compensation | 8.78M | 4.89M | 5.65M | 5.18M | 7.73M | 6.11M |
| Other Operating Activities | 3.36M | -6.33M | -2.74M | -3.56M | 2.53M | 101.63M |
| Change in Accounts Receivable | -7.00M | -7.44M | 27.00K | 12.59M | -5.91M | -928.00K |
| Change in Inventory | -8.41M | 1.38M | 12.47M | 2.35M | -8.21M | -3.57M |
| Change in Accounts Payable | 2.13M | 4.18M | -1.77M | -9.75M | -2.29M | 3.14M |
| Change in Other Net Operating Assets | 15.76M | 5.58M | -1.79M | -8.73M | 38.03M | -5.30M |
| Operating Cash Flow | 123.47M | 102.11M | 98.24M | 88.81M | 121.20M | 86.14M |
| Capital Expenditures | -15.15M | -15.73M | -18.64M | -14.74M | -14.33M | -15.64M |
| Cash Acquisitions | -121.91M | -3.36M | -96.86M | -255.00K | ||
| Investment in Securities | 105.00K | -2.78M | ||||
| Investing Cash Flow | -15.05M | -18.51M | -140.56M | -18.10M | -111.19M | -15.90M |
| Long-Term Debt Issued | 1.10B | 915.60M | 758.36M | 756.58M | 804.20M | |
| Total Debt Issued | 721.85M | 1.10B | 915.60M | 758.36M | 756.58M | 804.20M |
| Long-Term Debt Repaid | -1.14B | -890.80M | -774.53M | -722.94M | -808.80M | |
| Total Debt Repaid | -757.55M | -1.14B | -890.80M | -774.53M | -722.94M | -808.80M |
| Net Debt Issued (Repaid) | -35.70M | -34.80M | 24.80M | -16.17M | 33.64M | -4.60M |
| Repurchase of Common Stock | -33.91M | -58.89M | -45.73M | -44.19M | -22.97M | -10.29M |
| Common Dividends Paid | -4.61M | -4.75M | -4.88M | -5.04M | -5.13M | -5.17M |
| Other Financing Activities | -1.08M | -1.20M | -650.00K | |||
| Financing Cash Flow | -74.21M | -98.44M | -26.89M | -65.40M | 4.34M | -20.71M |
| Foreign Exchange Rate Adjustments | -625.00K | 2.81M | -340.00K | 1.65M | 1.10M | 159.00K |
| Net Cash Flow | 33.58M | -12.04M | -69.54M | 6.97M | 15.45M | 49.69M |
| Free Cash Flow | 108.31M | 86.37M | 79.60M | 74.07M | 106.86M | 70.50M |
| Free Cash Flow Margin | 18.97% | 15.96% | 15.46% | 13.46% | 18.21% | 13.74% |
| Free Cash Flow Per Share | 3.73 | 2.90 | 2.59 | 2.35 | 3.31 | 2.18 |
| Levered Free Cash Flow | 91.31M | 62.97M | 70.35M | 64.93M | 63.19M | 64.06M |
| Unlevered Free Cash Flow | 93.16M | 65.66M | 73.00M | 67.01M | 64.56M | 65.38M |
| Cash Interest Paid | 2.67M | 4.00M | 4.23M | 3.13M | 2.02M | 1.95M |
| Cash Income Tax Paid | 16.32M | 16.75M | 16.60M | 20.23M | 20.08M | 16.89M |
| Change in Working Capital | 2.49M | 3.69M | 8.94M | -3.54M | 21.61M | -6.66M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 1.78B | 1.25B | 1.59B | 1.36B | 1.26B | 1.18B |
| Enterprise Value | 1.72B | 1.24B | 1.62B | 1.31B | 1.22B | 1.13B |
| Last Close Price | 61.26 | 42.78 | 52.42 | 43.34 | 38.92 | 36.10 |
| PE Ratio | 24.56 | 19.07 | 28.63 | 22.52 | 21.09 | |
| Forward PE | 21.97 | 18.16 | 22.63 | 19.81 | 16.04 | 18.03 |
| PS Ratio | 3.16 | 2.30 | 3.08 | 2.48 | 2.14 | 2.31 |
| PB Ratio | 2.98 | 2.26 | 3.01 | 2.59 | 2.48 | 2.55 |
| P/TBV Ratio | 7.51 | 6.60 | 9.74 | 5.14 | 5.11 | 4.17 |
| P/FCF Ratio | 16.63 | 14.42 | 19.95 | 18.40 | 11.76 | 16.78 |
| P/OCF Ratio | 14.59 | 12.20 | 16.16 | 15.35 | 10.37 | 13.74 |
| PEG Ratio | 1.34 | 1.14 | 1.41 | 1.24 | 0.60 | 1.00 |
| EV/Sales Ratio | 3.05 | 2.29 | 3.15 | 2.38 | 2.08 | 2.21 |
| EV/EBITDA Ratio | 12.91 | 10.50 | 15.54 | 11.82 | 9.33 | 11.46 |
| EV/EBIT Ratio | 17.44 | 14.82 | 22.08 | 15.95 | 12.07 | 15.76 |
| EV/FCF Ratio | 16.05 | 14.38 | 20.38 | 17.66 | 11.40 | 16.05 |
| Debt / Equity Ratio | 0.15 | 0.15 | 0.22 | 0.18 | 0.22 | 0.16 |
| Debt / EBITDA Ratio | 0.62 | 0.66 | 1.06 | 0.83 | 0.80 | 0.72 |
| Debt / FCF Ratio | 0.82 | 0.96 | 1.48 | 1.32 | 1.03 | 1.07 |
| Net Debt / Equity Ratio | -0.11 | -0.02 | 0.02 | -0.15 | -0.10 | -0.14 |
| Net Debt / EBITDA Ratio | -0.46 | -0.08 | 0.11 | -0.73 | -0.37 | -0.67 |
| Net Debt / FCF Ratio | -0.58 | -0.10 | 0.15 | -1.09 | -0.46 | -0.94 |
| Asset Turnover | 0.71 | 0.71 | 0.68 | 0.74 | 0.83 | 0.80 |
| Inventory Turnover | 5.81 | 6.34 | 5.86 | 5.88 | 6.66 | 6.88 |
| Quick Ratio | 1.97 | 1.65 | 1.83 | 2.55 | 2.24 | 2.00 |
| Current Ratio | 2.59 | 2.30 | 2.46 | 3.29 | 2.90 | 2.53 |
| Return on Equity (ROE) | 13.02% | 12.10% | 10.52% | 11.72% | 12.29% | -9.44% |
| Return on Assets (ROA) | 7.73% | 6.85% | 6.10% | 6.88% | 8.93% | 6.96% |
| Return on Invested Capital (ROIC) | 12.22% | 11.85% | 11.76% | 14.41% | 17.42% | 17.67% |
| Return on Capital Employed (ROCE) | 14.30% | 12.80% | 11.00% | 12.70% | 15.90% | 13.00% |
| Earnings Yield | 4.07% | 5.24% | 3.49% | 4.44% | 4.74% | -3.54% |
| FCF Yield | 6.01% | 6.93% | 5.01% | 5.44% | 8.50% | 5.96% |
| Dividend Yield | 0.26% | 0.37% | 0.30% | 0.36% | 0.40% | 0.43% |
| Payout Ratio | 6.29% | 7.27% | 8.81% | 8.33% | 8.61% | |
| Buyback Yield / Dilution | 3.68% | 2.97% | 2.73% | 2.04% | 0.27% | 0.79% |
| Total Shareholder Return | 3.94% | 3.33% | 3.03% | 2.41% | 0.68% | 1.22% |