NAPCO SECURITY TECHNOLOGIES, INC financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data NAPCO SECURITY TECHNOLOGIES, INC 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	87.4	91.7	103	101	114	144	170	189	182	202
Cost of revenue	51.1	53.8	58.7	58.5	63.3	84.4	96.8	87.1	80.6	82.5
Gross profit	36.3	38	44.2	42.8	50.7	59.2	73.2	102	101	120
Research and development	6.72	6.63	7.21	7.26	7.62	8.02	9.33	10.8	12.6	13.8
Selling, general and administrative	23.2	23	23.2	23.7	25.2	32.9	33.6	37.2	42.2	44.4
Selling and marketing			2.05	1.72	1.31			3.26	3.75	4.1
Operating expenses		29.6	30.4	32.8	32.8	40.9	42.9	47.9	54.8	74.2
Operating income	6.38	8.41	13.8	10.1	17.9	18.2	30.3	53.8	46.3	45.6
Interest expense	0.08	0.08	0.02
Interest income								2.38	3.36	3.59
Other non-operating income	-0.08							0.19	0.45	0.6
Pre-tax income	6.3	8.33	13.8	10.1	17.9	21.8	31.2	56.4	50.1	49.8
Income tax	0.7	0.68	1.27	2.26	2.51	2.25	4.1	6.57	6.66	6.8
Net income	5.6	7.65	12.5	7.8	15.4	19.6	27.1	49.8	43.4	43
EBITDA	7.3	9.45	14.9	11.3	19.2	19.6	31.9	55.6	48.2	47.5
EPS, basic	0.15	0.21	0.34	0.21	0.42	0.53	0.74	1.35	1.20	1.21
EPS, diluted	0.15	0.21	0.34	0.21	0.42	0.53	0.73	1.34	1.19	1.20
Shares, basic (weighted)	36.5	36.5	37.1	36.9	36.7	36.7	36.7	36.8	36.3	35.7
Shares, diluted (weighted)	36.6	36.5	37.2	37	36.8	36.9	37	37.1	36.5	35.9
Dividend per share							0.06	0.36	0.52	0.58

Balance sheet

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Cash and equivalents	3.45	5.31	8.03	18.2	34.8	41.7	36	65.3	83.1	127
Short-term investments					5.41	5.07	5.14	5.4	16.1	10.6
Receivables	20.3	22.7	26	22.9	28.1	29.2	26.1	31.9	30.1
Inventory	26.2	24.5	29.6	34.7	24.9	40.8	35.1	34.8	30	30.1
Other current assets	1.33	1.12	1.88	2.05	2.41	2.84	3.4	4.27	3.2	4.33
Total current assets	51.3	53.7	65.5	78	95.6	120	131	169	162	208
Property, plant and equipment	6.54	6.79	7.69	8.09	7.84	7.94	9.31	9.08	9.23	9.24
Lease right-of-use assets			0	7.4	7.37	7.35	5.8	5.49	5.19	4.91
Intangible assets	7.92	7.55	7.23	5.12	4.69	4.3	3.94	3.6	3.29	2.99
Other non-current assets	0.12	0.27	0.27	0.26	0.24	0.35	0.31	0.29	0.2	0.19
Total assets	70.9	73.3	85.9	104	123	149	167	208	198	239
Accounts payable	5.65	4.81	5.14	6.55	6.1	11.1	8.06	7.98	5.74	6.93
Accrued liabilities	2.21	2.11	6.27	5.74	6.58	9.49	8.08	10.3	8.71	8.55
Short-term debt	0		0	1.79	2.39
Total current liabilities	10.5	9.4	14.4	17.5	20.3	26.5	19.7	22.2	24.1	42.5
Long-term debt	3.5	0	0	2.11	1.52
Lease liabilities			0	7.11	7.09	7.07	5.69	5.51	5.34	5.18
Total liabilities	14	9.82	14.7	28	30.2	34.8	26.5	28.9	29.5	47.7
Total debt	3.5	0	0	2.11	3.9
Paid-in capital	16.6	16.9	17.1	17.8	18.2	20	21.6	23.7	25.3	25.4
Retained earnings	51.8	59.4	70.9	77.9	93.3	113	138	174	199	221
Treasury stock	-11.7	-13.1	-17.1	-19.5	-19.5	-19.5	-19.5	-19.5	-56.3	-56.3
Other comprehensive income									0.16	0.16
Shareholders' equity	56.9	62.6	70.5	76.5	92.4	114	140	179	169	191
Total equity	56.9	62.6	70.5	76.5	92.4	114	140	179	169	191
Total liabilities and equity	70.9	73.3	85.9	104	123	149	167	208	198	239
Shares outstanding	36.6	36.4	18.5	36.7	36.7	36.7	36.8	36.9	35.7	35.8

Cash flow statement

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Net income	5.6	7.65	12.5	7.8	15.4	19.6	27.1	49.8	43.4	43
Depreciation and amortization	0.92	1.03	1.09	1.22	1.26	1.38	1.57	1.83	1.96	1.91
Stock-based compensation	0.1	0.15	0.16	0.58	0.44	1.65	1.46	1.73	1.51	0.99
Deferred income tax	0.36	0.08	0.76	-0.05	0.34	-0.21	-2.82	-2.78	-1.05	2.37
Change in receivables	-1.27	-2.5	-1.44	2.8	-5.05	-1.15	3.26	-5.73	1.8
Change in inventory	-4.79	0.86	-5.99	-6.79	8.79	-19.3	1.88	-3.26	8	2.34
Change in payables	1.78	-0.66	1.58	1.93	1.89	8.76	-6.58	2.69	-4.02	18
Cash from operations	2.45	7.87	8.65	10.3	23	8.33	24.7	45.4	53.5	61.1
Capital expenditures	-1.41	-1.28	-1.99	-1.62	-1.01	-1.48	-2.96	-1.59	-2.12	-1.92
Purchases of investments					-5.42	-0.08	-0.15	-0.21	-12.8	-11.4
Sales and maturities of investments									2.56	17.2
Cash from investing	-1.41	-1.28	-1.99	-1.62	-6.43	-1.56	-28.3	-3.15	14.6	3.95
Debt issued	1.5	0	0	3.9
Debt repaid	-2.8	-3.5
Stock issued	0.05	0.11	0.05	0.08		0.16	0.09	0.43	0.05	0.63
Share buybacks	0	-1.34	-4	-2.45					-36.8
Dividends paid							-2.3	-13.3	-13.6	-20.3
Cash from financing	-1.39	-4.73	-3.95	1.53		0.16	-2.21	-12.8	-50.4	-21.2
Net change in cash	-0.35	1.85	2.72	10.2	16.6	6.92	-5.78	29.4	17.7	43.8
Free cash flow	1.03	6.59	6.67	8.69	22	6.85	21.7	43.8	51.4	59.2
Interest paid	0.09	0.08	0.02	0.03	0.02	0.02	0.02	0.01
Income taxes paid	0.05	0.19	0.26	0.75	1.97	2.17	8.81	9.33	8.43	3.51

Key metrics

Worked out from the statements above. Latest values use fiscal 2026. Valuation uses the share price of $35.66 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	59.2%	Gross profit / revenue.
Operating margin	22.6%	Operating income / revenue.
EBITDA margin	23.5%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	24.6%	Pre-tax income / revenue.
Net margin	21.3%	Net income / revenue.
FCF margin	29.3%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	30.2%	Cash from operations / revenue.
Effective tax rate	13.6%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	23.9%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	19.7%	Net income / average total assets.
Return on invested capital (ROIC)	52.7%	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	6.8%	Research and development expense / revenue.
SG&A / revenue	21.9%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	0.5%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	0.9%	Capital expenditures / revenue.
D&A / revenue	0.9%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	11.4%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	6.0%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	12.1%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	18.6%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	17.8%	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	18.7%	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	-1.3%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	14.6%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	20.5%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	-1.4%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	14.2%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	19.9%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-0.9%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	16.6%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	22.8%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	0.8%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	18.0%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	23.4%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	14.2%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	35.3%	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	21.6%	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	15.2%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	39.7%	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	21.9%	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	11.5%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	110.1%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value growth, 1y	13.3%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	10.9%	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	15.6%	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	20.5%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	12.7%	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	14.3%	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	-1.7%	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	-1.0%	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	-0.5%	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	4.90x	Current assets / current liabilities.
Quick ratio	3.24x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	3.24x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	20.0%	Total liabilities / total assets.
Working capital	$165.5M	Current assets - current liabilities.
Goodwill and intangibles / assets	1.3%	(Goodwill + intangible assets) / total assets.
Tangible book value	$188.0M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.93x	Revenue / average total assets.
Fixed asset turnover	21.9x	Revenue / average property, plant and equipment.
Inventory turnover	2.75x	Cost of revenue / average inventory.
Days inventory	133 days	365 x average inventory / cost of revenue.
Days payables	28 days	365 x average accounts payable / cost of revenue.
FCF conversion	137.7%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	3.1%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$1.20	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	$1.21	Net income per basic share, as reported (split-adjusted).
Revenue per share	$5.64	Revenue / diluted weighted shares.
FCF per share	$1.65	Free cash flow / diluted weighted shares.
Operating cash flow per share	$1.70	Cash from operations / diluted weighted shares.
Book value per share	$5.34	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$5.26	Tangible book value / shares outstanding.
Cash per share	$3.85	(Cash + short-term investments) / shares outstanding.
Dividend per share	$0.58	Dividend declared per common share (paid, when declared is not tagged).
Payout ratio	47.3%	Dividends paid / net income, when net income is positive.
Dividends / FCF	34.3%	Dividends paid / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$1.27B	Share price x shares outstanding.
Enterprise value	$1.14B	Market cap + total debt - cash - short-term investments.
P/E	29.6x	Market cap / net income. Only when net income is positive.
P/S	6.30x	Market cap / revenue.
P/B	6.67x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	6.78x	Market cap / tangible book value, when positive.
P/FCF	21.5x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	20.8x	Market cap / cash from operations, when positive.
EV/Sales	5.62x	Enterprise value / revenue.
EV/EBIT	24.9x	Enterprise value / operating income, when both are positive.
EV/EBITDA	23.9x	Enterprise value / EBITDA, when both are positive.
EV/FCF	19.2x	Enterprise value / free cash flow, when both are positive.
FCF yield	4.6%	Free cash flow / market cap.
Earnings yield	3.4%	Net income / market cap (the inverse of P/E).
Dividend yield	1.6%	Dividends paid over the period / market cap.
Shareholder yield	1.6%	(Dividends paid + share buybacks) / market cap.
PEG	1.64x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was NAPCO SECURITY TECHNOLOGIES, INC's revenue in fiscal 2026?

NAPCO SECURITY TECHNOLOGIES, INC reported revenue of $202.3M for fiscal 2026, 11.4% higher than the year before.

Was NAPCO SECURITY TECHNOLOGIES, INC profitable in fiscal 2026?

Yes. Net income was $43.0M, a net margin of 21.3%.

How much free cash flow did NAPCO SECURITY TECHNOLOGIES, INC generate in fiscal 2026?

Cash from operations of $61.1M minus capital expenditures of $1.9M left free cash flow of $59.2M.

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.

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