Recent News
On August 18, 2026 M-tron announced a $4.5 million production order from a major U.S. defense prime supporting a long-duration air-defense program. On June 30, 2026 the company disclosed additional production contracts totaling roughly $4.0 million tied to aerospace and electronic warfare programs. The company also presented at investor conferences across June–August 2026, underscoring contract wins and backlog expansion.
Technical Analysis
ADX / DI+ / DI- — ADX at 23.58 signals an emerging directional move; DI+ shows a dip & reversal and DI- shows a peak & reversal, both patterns indicate recent bullish directional shifts despite DI- currently above DI+.
MACD — MACD reads -2.19 with a dip & reversal trend, indicating bullish momentum recovery from a trough; MACD remains below its signal line (-2.07), so momentum recovery has not yet produced a classic bullish cross.
MRO — MRO at 10.03 (positive) indicates price sits above the model target and therefore carries potential downward pressure; the MRO’s dip & reversal suggests momentum is reasserting, which tempers the immediate down-pressure but does not remove it.
RSI — RSI at 45.08 with a dip & reversal shows regained buying momentum off a dip while remaining below neutral, implying limited short-term upside until RSI clears 50.
Price vs Moving Averages / Bands — Last close $77.03 sits near the 12-day EMA $77.23 and the 20-day average $76.97, below the 50-day average $82.54 and above the 200-day average $71.77. Bollinger bands compress (1x upper $79.87 / lower $74.08), suggesting low volatility; immediate upside faces the super-trend upper band around $82.26 as resistance, while the 2x lower band near $71.18 and the 200-day average provide support levels.
Volume & Volatility — Recent volume (63,535) trails short- and long-term averages, and 42-/52-week volatility at ~3% signals muted intraday swings; low volume weakens the conviction behind the early bullish indicators.
Fundamental Analysis
Profitability — Gross margin stands at 41.21% while operating/EBIT margin sits at 11.38%. Operating margin fell QoQ by approximately -36.0% and YoY by -18.05%, placing current EBIT margin below the industry peer mean (20.48%) and below the industry peer median (18.07%). These margin contractions weigh on valuation despite a healthy gross margin base.
Income & EPS — Reported EPS $0.43 versus an estimate $0.59 produced an EPS shortfall of -27.12%, reducing the near-term earnings narrative; forward EPS sits at $0.73 and forward PE at 112.59, while trailing PE exceeds 194, reflecting elevated multiples relative to operating performance.
Growth — Reported total revenue $15,109,000 with revenue growth figures mixed: the available QoQ revenue change registers roughly -9.52% and YoY revenue change shows -33.33%, indicating recent top-line contraction on a yearly basis despite contract-driven backlog improvements reported in corporate releases.
Liquidity & Leverage — Cash and short-term investments total $96,245,000, current ratio 16.63 and cash ratio 13.58, while total debt remains negligible at $132,000 (debt-to-equity ~0.00111). The balance sheet’s cash-rich position and near-zero leverage materially reduce solvency risk and provide funding flexibility for contract fulfillment.
Cash Flow & Returns — Operating cash flow $3,704,000 and free cash flow $2,767,000 yield a free-cash-flow yield near 0.76%, below the industry peer mean (about 1.30%). Return on equity and return on assets sit at roughly 1.58% and 1.82% respectively, both compressed versus typical peer expectations.
Valuation — The current valuation as determined by WMDST: over-valued. High trailing and forward multiples (PE ~194.6; forward PE ~112.6), elevated PS ratio (~24.07) and low free-cash-flow yield do not reconcile with recent YoY revenue declines and an EPS miss, even as a strong cash position and near-zero debt cushion operational risk.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2026-06-30 |
| REPORT DATE: | 2026-08-12 |
| NEXT REPORT DATE: | 2026-11-11 |
| CASH FLOW | Begin Period Cash Flow | $ 52.0 M |
| Operating Cash Flow | $ 3.7 M | |
| Capital Expenditures | $ -937.00 K | |
| Change In Working Capital | $ 32.0 K | |
| Dividends Paid | — | |
| Cash Flow Delta | $ 44.3 M | |
| End Period Cash Flow | $ 96.2 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 15.1 M | |
| Forward Revenue | $ 6.4 M | |
| COSTS | ||
| Cost Of Revenue | $ 8.9 M | |
| Depreciation | $ 311.0 K | |
| Depreciation and Amortization | $ 311.0 K | |
| Research and Development | — | |
| Total Operating Expenses | $ 13.4 M | |
| PROFITABILITY | ||
| Gross Profit | $ 6.2 M | |
| EBITDA | $ 2.0 M | |
| EBIT | $ 1.7 M | |
| Operating Income | $ 1.7 M | |
| Interest Income | $ 690.0 K | |
| Interest Expense | — | |
| Net Interest Income | $ 690.0 K | |
| Income Before Tax | $ 2.4 M | |
| Tax Provision | $ 573.0 K | |
| Tax Rate | 23.5 % | |
| Net Income | $ 1.9 M | |
| Net Income From Continuing Operations | $ 1.9 M | |
| EARNINGS | ||
| EPS Estimate | $ 0.59 | |
| EPS Actual | $ 0.43 | |
| EPS Difference | $ -0.16 | |
| EPS Surprise | -27.119 % | |
| Forward EPS | $ 0.73 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 125.9 M | |
| Intangible Assets | $ 40.0 K | |
| Net Tangible Assets | $ 118.7 M | |
| Total Current Assets | $ 117.9 M | |
| Cash and Short-Term Investments | $ 96.2 M | |
| Cash | $ 96.2 M | |
| Net Receivables | $ 8.2 M | |
| Inventory | $ 10.9 M | |
| Long-Term Investments | $ 354.0 K | |
| LIABILITIES | ||
| Accounts Payable | $ 2.4 M | |
| Short-Term Debt | — | |
| Total Current Liabilities | $ 7.1 M | |
| Net Debt | — | |
| Total Debt | $ 132.0 K | |
| Total Liabilities | $ 7.2 M | |
| EQUITY | ||
| Total Equity | $ 118.7 M | |
| Retained Earnings | $ 24.0 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 27.32 | |
| Shares Outstanding | 4.346 M | |
| Revenue Per-Share | $ 3.48 | |
| VALUATION | Market Capitalization | $ 363.6 M |
| Enterprise Value | $ 267.5 M | |
| Enterprise Multiple | 131.775 | |
| Enterprise Multiple QoQ | 113.485 % | |
| Enterprise Multiple YoY | 146.475 % | |
| Enterprise Multiple IPRWA | MPTI: 131.775 high: 119.825 median: 77.914 mean: 74.693 low: -34.498 |
|
| EV/R | 17.705 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 1.061 | |
| Asset To Liability | 17.443 | |
| Debt To Capital | 0.001 | |
| Debt To Assets | 0.001 | |
| Debt To Assets QoQ | -34.783 % | |
| Debt To Assets YoY | -78.079 % | |
| Debt To Assets IPRWA | high: 0.37 median: 0.31 mean: 0.253 low: 0.004 MPTI: 0.001 |
|
| Debt To Equity | 0.001 | |
| Debt To Equity QoQ | -36.571 % | |
| Debt To Equity YoY | -79.67 % | |
| Debt To Equity IPRWA | high: 1.052 median: 0.586 mean: 0.583 MPTI: 0.001 low: -0.022 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 3.063 | |
| Price To Book QoQ | -3.379 % | |
| Price To Book YoY | -16.93 % | |
| Price To Book IPRWA | high: 9.067 mean: 4.499 median: 3.889 MPTI: 3.063 low: -0.583 |
|
| Price To Earnings (P/E) | 194.573 | |
| Price To Earnings QoQ | 100.819 % | |
| Price To Earnings YoY | 133.694 % | |
| Price To Earnings IPRWA | MPTI: 194.573 high: 135.576 median: 111.728 mean: 107.175 low: -116.964 |
|
| PE/G Ratio | -5.432 | |
| Price To Sales (P/S) | 24.066 | |
| Price To Sales QoQ | 52.622 % | |
| Price To Sales YoY | 149.021 % | |
| Price To Sales IPRWA | high: 52.134 MPTI: 24.066 mean: 18.784 median: 16.263 low: 0.331 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 112.588 | |
| Forward PE/G | -3.143 | |
| Forward P/S | 56.838 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | -11.852 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.147 | |
| Asset Turnover Ratio QoQ | -25.969 % | |
| Asset Turnover Ratio YoY | -57.067 % | |
| Asset Turnover Ratio IPRWA | high: 0.532 mean: 0.167 MPTI: 0.147 median: 0.124 low: 0.023 |
|
| Receivables Turnover | 1.854 | |
| Receivables Turnover Ratio QoQ | -6.999 % | |
| Receivables Turnover Ratio YoY | -9.404 % | |
| Receivables Turnover Ratio IPRWA | high: 2.927 MPTI: 1.854 mean: 1.619 median: 1.549 low: 0.156 |
|
| Inventory Turnover | 0.837 | |
| Inventory Turnover Ratio QoQ | 3.515 % | |
| Inventory Turnover Ratio YoY | 3.222 % | |
| Inventory Turnover Ratio IPRWA | high: 1.565 mean: 0.995 median: 0.897 MPTI: 0.837 low: 0.169 |
|
| Days Sales Outstanding (DSO) | 49.212 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 143.31 | |
| Cash Conversion Cycle Days QoQ | 0.422 % | |
| Cash Conversion Cycle Days YoY | 4.152 % | |
| Cash Conversion Cycle Days IPRWA | high: 420.794 MPTI: 143.31 median: 98.357 mean: 96.435 low: -80.169 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 0.136 | |
| CapEx To Revenue | -0.062 | |
| CapEx To Depreciation | -3.013 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 118.7 M | |
| Net Invested Capital | $ 118.7 M | |
| Invested Capital | $ 118.7 M | |
| Net Tangible Assets | $ 118.7 M | |
| Net Working Capital | $ 110.8 M | |
| LIQUIDITY | ||
| Cash Ratio | 13.579 | |
| Current Ratio | 16.63 | |
| Current Ratio QoQ | 41.39 % | |
| Current Ratio YoY | 145.368 % | |
| Current Ratio IPRWA | MPTI: 16.63 high: 11.517 mean: 1.312 median: 1.075 low: 0.896 |
|
| Quick Ratio | 15.094 | |
| Quick Ratio QoQ | 49.902 % | |
| Quick Ratio YoY | 212.291 % | |
| Quick Ratio IPRWA | MPTI: 15.094 high: 11.416 mean: 0.892 median: 0.737 low: 0.663 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 0.065 | |
| Cost Of Debt | 37.073 % | |
| Interest Coverage Ratio | 27.286 | |
| Interest Coverage Ratio QoQ | -34.138 % | |
| Interest Coverage Ratio YoY | -6.779 % | |
| Interest Coverage Ratio IPRWA | MPTI: 27.286 high: 26.234 mean: 13.613 median: 12.614 low: -47.107 |
|
| Operating Cash Flow Ratio | 0.243 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 25.626 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 58.818 % | |
| Revenue Growth | 2.88 % | |
| Revenue Growth QoQ | -9.519 % | |
| Revenue Growth YoY | -33.333 % | |
| Revenue Growth IPRWA | high: 55.868 % mean: 7.632 % median: 6.267 % MPTI: 2.88 % low: 1.807 % |
|
| Earnings Growth | -35.821 % | |
| Earnings Growth QoQ | 10.822 % | |
| Earnings Growth YoY | 568.676 % | |
| Earnings Growth IPRWA | high: 86.747 % mean: 13.389 % median: 6.091 % MPTI: -35.821 % low: -80.412 % |
|
| MARGINS | ||
| Gross Margin | 41.207 % | |
| Gross Margin QoQ | -8.225 % | |
| Gross Margin YoY | -5.506 % | |
| Gross Margin IPRWA | high: 66.956 % mean: 45.484 % median: 41.771 % MPTI: 41.207 % low: -6.802 % |
|
| EBIT Margin | 11.377 % | |
| EBIT Margin QoQ | -35.984 % | |
| EBIT Margin YoY | -18.051 % | |
| EBIT Margin IPRWA | high: 25.556 % mean: 20.483 % median: 18.071 % MPTI: 11.377 % low: -110.265 % |
|
| Return On Sales (ROS) | 11.377 % | |
| Return On Sales QoQ | -35.984 % | |
| Return On Sales YoY | -18.051 % | |
| Return On Sales IPRWA | high: 25.836 % mean: 21.222 % median: 20.796 % MPTI: 11.377 % low: -203.3 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 2.8 M | |
| Free Cash Flow Yield | 0.761 % | |
| Free Cash Flow Yield QoQ | 5.841 % | |
| Free Cash Flow Yield YoY | -52.198 % | |
| Free Cash Flow Yield IPRWA | high: 3.804 % median: 1.296 % mean: 1.295 % MPTI: 0.761 % low: -7.796 % |
|
| Free Cash Growth | 66.086 % | |
| Free Cash Growth QoQ | -330.908 % | |
| Free Cash Growth YoY | -33.979 % | |
| Free Cash Growth IPRWA | high: 466.116 % mean: 95.274 % median: 90.49 % MPTI: 66.086 % low: -660.059 % |
|
| Free Cash To Net Income | 1.48 | |
| Cash Flow Margin | 11.377 % | |
| Cash Flow To Earnings | 0.919 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.04 | |
| Return On Assets (ROA) | 1.822 % | |
| Return On Assets QoQ | -43.661 % | |
| Return On Assets YoY | -54.767 % | |
| Return On Assets IPRWA | high: 4.11 % mean: 2.515 % median: 2.329 % MPTI: 1.822 % low: -14.097 % |
|
| Return On Capital Employed (ROCE) | 1.446 % | |
| Return On Equity (ROE) | 0.016 | |
| Return On Equity QoQ | -51.82 % | |
| Return On Equity YoY | -64.852 % | |
| Return On Equity IPRWA | high: 0.349 mean: 0.057 median: 0.035 MPTI: 0.016 low: -0.262 |
|
| DuPont ROE | 1.95 % | |
| Return On Invested Capital (ROIC) | 1.108 % | |
| Return On Invested Capital QoQ | -62.881 % | |
| Return On Invested Capital YoY | -73.25 % | |
| Return On Invested Capital IPRWA | high: 6.467 % mean: 3.817 % median: 2.907 % MPTI: 1.108 % low: -6.496 % |
|