Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data CVD EQUIPMENT CORP files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2016
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Revenue
21
41.1
24.3
19.6
16.9
16.4
25.8
24.1
26.9
25.8
Cost of revenue
13.9
23.5
19.2
16.9
14
13.4
19.2
19
20.8
18.5
Gross profit
7.1
17.6
5.18
2.8
2.88
3.08
6.63
5.07
6.05
7.29
Research and development
0.43
0.44
0.61
0.6
0.37
1.79
1.91
2.6
2.63
2.79
General and administrative
6.93
8.54
8.21
6.29
6.15
5.09
5.33
5.45
4.9
4.81
Operating expenses
7.83
10.4
10.4
7.78
10.7
7.74
8.45
9.95
8.47
9.2
Operating income
-0.72
7.22
-5.25
-4.98
-7.82
-4.66
-1.82
-4.88
-2.42
-1.91
Interest expense
0.08
0.11
0.46
0.48
0.44
0.26
0.01
0.02
0.02
0.01
Interest income
0.03
0.08
0.16
0.14
0.06
0.01
0.16
0.58
0.56
0.34
Other non-operating income
0.07
-0.02
0.41
0.6
0.5
1.6
0.69
0.54
0.33
Pre-tax income
-0.65
7.2
-5.56
-4.91
-7.6
4.78
-0.22
-4.19
-1.87
-1.58
Income tax
-0.5
1.93
-0.36
1.41
-1.53
0.03
0
-0.01
0.02
0
Net income
-0.15
5.26
-5.2
-6.33
-6.07
4.75
-0.22
-4.18
-1.9
-1.59
EBITDA
0.09
8.09
-4.11
-3.94
-6.43
-3.92
-0.96
-4.09
-1.73
-1.23
EPS, basic
-0.02
0.83
-0.80
-0.96
-0.91
0.71
-0.03
-0.62
-0.28
-0.23
EPS, diluted
-0.02
0.82
-0.80
-0.96
-0.91
0.71
-0.03
-0.62
-0.28
-0.23
Shares, basic (weighted)
6.29
6.38
6.5
6.56
6.64
6.69
0.01
6.79
6.82
6.88
Shares, diluted (weighted)
6.29
6.39
6.5
6.56
6.64
6.7
0.01
6.79
6.82
6.88
Balance sheet
FY2016
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
21.7
14.2
11.4
8.66
7.7
16.7
14.4
14
12.6
8.73
Receivables
0.61
2.06
4.07
2.55
1.05
1.45
3.79
1.91
2.15
1.29
Inventory
3.29
2.97
1.86
1.71
1.12
1.23
2.54
4.45
2.12
0.29
Other current assets
0.24
0.17
0.72
0.73
0.71
0.49
0.8
0.85
0.9
0.36
Total current assets
28.4
27.8
19.4
14.2
11.8
23.1
23.7
22.8
20
16.9
Property, plant and equipment
14.3
28.8
30.4
32.1
28.8
12.3
12.6
12.2
11.7
10.5
Intangible assets
0.25
0.66
0.5
0.44
0.29
0.18
0.12
0.01
Other non-current assets
0.07
0.07
0.06
0.01
0.01
0.01
0.01
0.02
0
0.05
Total assets
45.6
59
51.8
46.7
40.9
35.5
37.9
35
31.7
27.5
Accounts payable
0.74
1.17
0.71
0.54
0.82
1.16
1.45
1.2
0.68
0.25
Accrued liabilities
1.94
2.74
1.5
1.9
1.41
1.76
2.59
1.77
2.24
0.85
Deferred revenue
0.08
0.47
0.54
2.28
0.79
1.7
4
4.9
3
0.56
Short-term debt
0.3
0.75
0.86
1.77
0.08
0.08
0.09
0.18
Total current liabilities
8.33
5.42
4.07
5.39
3.7
6.34
8.16
8.55
6.14
2.78
Long-term debt
2.97
12.7
12.1
11.4
13.1
0
0.35
0.27
0.18
Total liabilities
11.3
18.3
16.1
16.8
16.8
6.34
8.51
8.82
6.32
2.78
Total debt
3.27
13.7
12.9
12.1
13.8
1.77
0.43
0.35
0.27
0.18
Paid-in capital
24.1
25.2
26.1
26.7
27
27.3
27.7
28.7
29.8
30.7
Retained earnings
10.1
15.4
9.5
3.17
-2.9
1.84
1.62
-2.56
-4.46
-6.04
Shareholders' equity
34.3
40
35.7
30
24.1
29.2
29.4
26.2
25.4
24.7
Total equity
34.3
40
35.7
30
24.1
29.2
29.4
26.2
25.4
24.7
Total liabilities and equity
45.6
59
51.8
46.7
40.9
35.5
37.9
35
31.7
27.5
Shares outstanding
6.35
6.46
6.54
6.62
6.68
6.72
6.76
6.82
6.88
6.94
Cash flow statement
FY2016
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
-0.15
5.26
-5.2
-6.33
-6.07
4.75
-0.22
-4.18
-1.9
-1.59
Depreciation and amortization
0.81
0.87
1.14
1.04
1.39
0.74
0.87
0.79
0.68
0.68
Stock-based compensation
0.78
0.93
0.94
0.57
0.24
0.32
0.44
0.91
1.06
0.94
Deferred income tax
-0.44
0.83
-0.5
1.43
0
0
Change in receivables
2.5
-1.45
-2.01
1.52
1.36
-0.4
-2.34
1.84
-0.26
-0.15
Change in inventory
-0.29
-0.26
1.1
0.15
0.59
-0.1
-1.31
-2.31
0.65
0.37
Change in payables
0.44
0.43
-0.46
-0.18
0.28
0.34
0.29
-0.15
-0.52
-0.04
Cash from operations
8.85
-2.38
0.51
0.57
-1.13
-4.27
0.19
-0.21
-1.49
-3.68
Capital expenditures
-0.11
-0.89
-2.54
-2.69
-1.58
-0.24
-0.67
-0.42
-0.11
-0.05
Acquisitions
-0.5
-0.42
Purchases of investments
-0.05
Cash from investing
-0.41
-15.3
-2.54
-2.69
-1.58
22.8
-0.71
-0.13
0.14
-0.1
Debt issued
10.4
2.42
Debt repaid
-0.3
-0.3
-0.74
-0.66
-0.67
-9.62
-1.77
-0.08
-0.08
-0.09
Stock issued
0.46
0.15
0.08
Cash from financing
0.16
10.2
-0.74
-0.66
1.75
-9.62
-1.77
-0
-0.08
-0.09
Net change in cash
8.6
-7.47
-2.77
-2.78
-0.96
8.95
-2.29
-0.34
-1.43
-3.86
Free cash flow
8.74
-3.27
-2.03
-2.12
-2.71
-4.51
-0.47
-0.62
-1.6
-3.73
Interest paid
0.08
0.07
0.46
0.37
0.45
0.26
0.01
0.02
0.02
0.01
Income taxes paid
0.1
0.6
0.47
0
0
0.03
0
0.01
0
0.03
Key metrics
Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $4.40 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Gross margin
28.0%
Gross profit / revenue.
Operating margin
-18.0%
Operating income / revenue.
EBITDA margin
-15.0%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
-20.1%
Pre-tax income / revenue.
Net margin
50.5%
Net income / revenue.
FCF margin
2.3%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
2.4%
Cash from operations / revenue.
Return on equity (ROE)
27.8%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
26.0%
Net income / average total assets.
Return on invested capital (ROIC)
-22.5%
Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue
13.8%
Research and development expense / revenue.
Stock-based pay / revenue
4.3%
Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue
0.1%
Capital expenditures / revenue.
D&A / revenue
3.0%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
-4.1%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
-0.0%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y
8.8%
Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y
20.4%
Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y
3.2%
Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y
20.4%
Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y
-2.5%
Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y
-5.6%
Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y
0.5%
Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y
-13.2%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
-10.1%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y
-7.6%
Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y
0.8%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y
906.9%
Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y
0.7%
Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
11.5x
Current assets / current liabilities.
Quick ratio
10.3x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
9.61x
(Cash + short-term investments) / current liabilities.
Days inventory + days sales outstanding - days payables.
FCF conversion
4.6%
Free cash flow / net income, when net income is positive.
Capex / operating cash flow
2.7%
Capital expenditures / cash from operations, when that is positive.
Per share
Metric
Value
How it is calculated
EPS, diluted
$1.45
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share
$2.87
Revenue / diluted weighted shares.
FCF per share
$0.07
Free cash flow / diluted weighted shares.
Operating cash flow per share
$0.07
Cash from operations / diluted weighted shares.
Book value per share
$5.19
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/E
3.05x
Market cap / net income. Only when net income is positive.
P/S
1.54x
Market cap / revenue.
P/B
0.85x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
0.85x
Market cap / tangible book value, when positive.
P/FCF
65.9x
Market cap / free cash flow. Only when free cash flow is positive.
P/OCF
64.1x
Market cap / cash from operations, when positive.
EV/Sales
0.36x
Enterprise value / revenue.
EV/FCF
15.3x
Enterprise value / free cash flow, when both are positive.
FCF yield
1.5%
Free cash flow / market cap.
Earnings yield
32.8%
Net income / market cap (the inverse of P/E).
What was CVD EQUIPMENT CORP's revenue in fiscal 2025?
CVD EQUIPMENT CORP reported revenue of $25.8M for fiscal 2025, 4.1% lower than the year before.
Was CVD EQUIPMENT CORP profitable in fiscal 2025?
No. It reported a net loss of $1.6M.
How much free cash flow did CVD EQUIPMENT CORP generate in fiscal 2025?
Cash from operations of $3.7M minus capital expenditures of $48.0K left free cash flow of -$3.7M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.