ESPEY MFG & ELECTRONICS CORP financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data ESPEY MFG & ELECTRONICS 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

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Revenue	22.5	32.5	36.5	31.5	27.7	32.1	35.6	38.7	44	46.1
Cost of revenue	17.8	24.9	29.4	26	24.4	26.6	27.5	28.1	31.3	29.8
Gross profit	4.71	7.66	7.06	5.56	3.36	5.47	8.05	10.7	12.7	16.3
Selling, general and administrative	3.19	3.81	4.41	4.39	3.79	3.94	3.75	4.11	4.56	4.69
Operating income	1.53	3.85	2.65	1.17	-0.43	1.53	4.3	6.54	8.13	11.6
Interest income	0.09	0.16	0.17	0.11	0.02	0.01	0.36	0.73	1.26	1.7
Other non-operating income	0.12	0.22	0.23	0.14	0.06	0.06	0.41	0.76	1.6	1.72
Pre-tax income	1.65	4.07	2.88	1.31	-0.37	1.59	4.71	7.3	9.73	13.3
Income tax	0.52	0.99	0.54	0.15	-0.19	0.33	1.03	1.48	1.59	2.14
Net income	1.14	3.08	2.34	1.16	-0.18	1.27	3.68	5.82	8.14	11.2
EBITDA	1.96	4.28	3.19	1.74	0.09	2.02	4.78	6.99	8.58	12.1
EPS, basic	0.49	1.32	0.99	0.49	-0.08	0.52	1.50	2.34	3.14	4.04
EPS, diluted	0.49	1.31	0.98	0.49	-0.08	0.52	1.49	2.29	3.02	3.89
Shares, basic (weighted)	2.31	2.33	2.37	2.39	2.41	2.43	2.45	2.49	2.59	2.77
Shares, diluted (weighted)	2.32	2.35	2.39	2.4	2.41	2.43	2.47	2.54	2.7	2.87
Dividend per share	1.00	1.00	2.00	1.00	0.50		0.20	0.68	1.00	1.75

Balance sheet

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Cash and equivalents	10.1	4.3	1.46	5.4	6.8	8.1	2.75	4.35	18.9	19.4
Short-term investments	9.43	11.5	5.68	5.14	3.09	3.71	12	18.9	24.7	26
Receivables	3.4	4.38	11	9.01	5.35	5.73	5.76	6.64	7.6	8.96
Inventory	9.68	11.4	13.2	14.8	18.8	18.6	19.9	19.2	17.8	26
Other current assets	0.23	1.29	0.49	0.4	0.7	0.99	4.28	3.23	4.38	9.88
Total current assets	33.2	33.1	31.9	34.7	35	37.1	44.7	53.2	74	91.3
Property, plant and equipment	2.27	3.76	3.83	3.47	2.99	2.8	2.83	3.31	3.96	4.5
Total assets	35.5	36.8	35.7	38.2	38	39.9	47.5	56.5	79.1	97.2
Accounts payable	2.25	1.82	2.16	2.86	2.72	2.08	1.21	3.75	2.64	3.45
Deferred revenue		0.1	0.01	2.18	3.08	3.38	8.08	9.04	22.9	31
Total current liabilities	3.38	3.32	3.48	6.75	7.48	7.62	11.5	15.3	28.3	36.6
Total liabilities	3.6	3.34	3.76	6.98	7.65	7.8	11.6	15.3	28.3	36.6
Paid-in capital	17.7	18.2	18.7	19.1	23	23.1	23.3	23.9	26.3	27.4
Retained earnings	21.7	22.4	20	18.8	17.4	18.7	21.9	26	31.6	37.9
Treasury stock	-7.78	-7.72	-7.63	-7.65	-6.04	-6.04	-6.04	-5.84	-4.62	-2.65
Other comprehensive income	-0	-0.01	-0	-0	-0	-0	-0	0.01	0.01	0.01
Shareholders' equity	31.9	33.5	31.9	31.2	30.3	32.1	35.9	41.3	50.8	60.6
Total equity	31.9	33.5	31.9	31.2	30.3	32.1	35.9	41.3	50.8	60.6
Total liabilities and equity	35.5	36.8	35.7	38.2	38	39.9	47.5	56.5	79.1	97.2
Shares outstanding	2.37	2.39	2.4	2.4	2.7	2.7	2.7	2.73	2.9	3.01

Cash flow statement

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Net income	1.14	3.08	2.34	1.16	-0.18	1.27	3.68	5.82	8.14	11.2
Depreciation and amortization	0.44	0.43	0.54	0.57	0.52	0.49	0.48	0.45	0.45	0.51
Stock-based compensation	0.13	0.12	0.17	0.19	0.13	0.18	0.23	0.28	0.35	0.21
Deferred income tax	-0.05	0.12	0.26	-0.04	-0.06	0.01	-0.04	-1.03	-0.31	-0.14
Change in receivables	1.56	-0.98	-6.69	1.98	3.66	-0.38	-0.02	-0.88	-0.96	-1.36
Change in inventory	1.05	-0.36	-1.82	-1.56	-4.71	0.23	-1.33	0.65	1.4	-8.13
Change in payables	1.7	-0.43	0.34	0.7	-0.14	-0.64	-0.87	2.54	-1.11	0.81
Cash from operations	6.42	0.26	-3.6	5.97	0.59	2.22	3.9	10.6	21	5.69
Capital expenditures	-0.35	-1.92	-0.61	-0.21	-0.04	-0.3	-0.51	-5.16	-4.37	-3.11
Purchases of investments						-4.24	-15.9	-26.4	-33.9	-36.7
Cash from investing	-4.2	-4.02	5.23	0.33	2.01	-0.92	-8.77	-7.84	-6.94	-2.36
Stock issued	0.15	0.44	0.32	0.08
Share buybacks	-0.04	-0.11	-0.04	-0.05
Dividends paid	-2.31	-2.33	-4.74	-2.39	-1.2		-0.49	-1.68	-2.6	-4.83
Cash from financing	-2.19	-2	-4.47	-2.36	-1.2		-0.49	-1.15	0.46	-2.75
Net change in cash	0.03	-5.76	-2.84	3.94	1.4	1.3	-5.36	1.6	14.5	0.57
Free cash flow	6.07	-1.66	-4.21	5.75	0.55	1.92	3.39	5.43	16.6	2.58
Income taxes paid	0.32	0.92	0.09	0.17	0.18	0.01	1.16	2.26	1.82	3.02

Key metrics

Worked out from the statements above. Latest values use fiscal 2026. Valuation uses the share price of $65.63 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	35.3%	Gross profit / revenue.
Operating margin	25.1%	Operating income / revenue.
EBITDA margin	26.2%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	28.9%	Pre-tax income / revenue.
Net margin	24.2%	Net income / revenue.
FCF margin	5.6%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	12.3%	Cash from operations / revenue.
Effective tax rate	16.0%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	20.1%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	12.7%	Net income / average total assets.
Return on invested capital (ROIC)	26.6%	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%.
SG&A / revenue	10.2%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	0.5%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	6.7%	Capital expenditures / revenue.
D&A / revenue	1.1%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	4.9%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	9.0%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	10.7%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	28.4%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	26.5%	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	37.1%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	42.7%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	39.2%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA growth, 1y	41.1%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	36.3%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	164.4%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	37.3%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	44.9%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS growth, 1y	28.8%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	37.7%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-72.9%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	13.4%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	57.1%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	-84.5%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	-8.7%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	36.2%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	75.0%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	106.1%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	28.5%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	19.1%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	19.1%	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	14.8%	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	22.8%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	26.9%	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	20.7%	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	6.5%	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	5.1%	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	3.6%	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	2.50x	Current assets / current liabilities.
Quick ratio	1.49x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	1.24x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	37.7%	Total liabilities / total assets.
Working capital	$54.7M	Current assets - current liabilities.
Tangible book value	$60.6M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.52x	Revenue / average total assets.
Fixed asset turnover	10.9x	Revenue / average property, plant and equipment.
Inventory turnover	1.36x	Cost of revenue / average inventory.
Days inventory	268 days	365 x average inventory / cost of revenue.
Receivables turnover	5.57x	Revenue / average receivables.
Days sales outstanding	66 days	365 x average receivables / revenue.
Days payables	37 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	296 days	Days inventory + days sales outstanding - days payables.
FCF conversion	23.1%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	54.6%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$3.89	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.
EPS, basic	$4.04	Net income per basic share, as reported (split-adjusted).
Revenue per share	$16.06	Revenue / diluted weighted shares.
FCF per share	$0.90	Free cash flow / diluted weighted shares.
Operating cash flow per share	$1.98	Cash from operations / diluted weighted shares.
Book value per share	$20.14	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$20.14	Tangible book value / shares outstanding.
Cash per share	$15.11	(Cash + short-term investments) / shares outstanding.
Dividend per share	$1.75	Dividend declared per common share (paid, when declared is not tagged).
Payout ratio	43.2%	Dividends paid / net income, when net income is positive.
Dividends / FCF	187.2%	Dividends paid / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$196.6M	Share price x shares outstanding.
Enterprise value	$151.2M	Market cap + total debt - cash - short-term investments.
P/E	17.6x	Market cap / net income. Only when net income is positive.
P/S	4.26x	Market cap / revenue.
P/B	3.25x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	3.25x	Market cap / tangible book value, when positive.
P/FCF	76.2x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	34.6x	Market cap / cash from operations, when positive.
EV/Sales	3.28x	Enterprise value / revenue.
EV/EBIT	13.0x	Enterprise value / operating income, when both are positive.
EV/EBITDA	12.5x	Enterprise value / EBITDA, when both are positive.
EV/FCF	58.6x	Enterprise value / free cash flow, when both are positive.
FCF yield	1.3%	Free cash flow / market cap.
Earnings yield	5.7%	Net income / market cap (the inverse of P/E).
Dividend yield	2.5%	Dividends paid over the period / market cap.
Shareholder yield	2.5%	(Dividends paid + share buybacks) / market cap.
PEG	0.47x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was ESPEY MFG & ELECTRONICS CORP's revenue in fiscal 2026?

ESPEY MFG & ELECTRONICS CORP reported revenue of $46.1M for fiscal 2026, 4.9% higher than the year before.

Was ESPEY MFG & ELECTRONICS CORP profitable in fiscal 2026?

Yes. Net income was $11.2M, a net margin of 24.2%.

How much free cash flow did ESPEY MFG & ELECTRONICS CORP generate in fiscal 2026?

Cash from operations of $5.7M minus capital expenditures of $3.1M left free cash flow of $2.6M.

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.

Open interactive statements, quarterly figures and charts

Back to ESPEY MFG & ELECTRONICS CORP