RCM TECHNOLOGIES, INC. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data RCM 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

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	176	187	200	191	150	204	285	263	278	319
Cost of revenue	129	138	151	143	112	151	202	187	199	231
Gross profit	47	48.4	49.3	48.6	38.9	53.1	82.9	76.7	79.8	87.9
Selling, general and administrative	40.1	40.4	40.4	40.4	37.8	42	53.4	52.2	56.8	60.9
Operating expenses		48.1	43.9	42	49.8	39	54.1	53	57.5	62.9
Operating income	3.83	0.28	5.42	6.57	-11	14.1	28.8	23.7	22.3	25.1
Other non-operating income	-0.53	-0.53	-1.51	-1.75	-1.11	-0.22	-0.32	-1.5	-2.14	-3.02
Pre-tax income	3.3	-0.25	3.91	4.82	-12.1	13.9	28.5	22.2	20.2	22.1
Income tax	1.54	-2.26	1.19	0.76	-3.19	2.93	7.59	5.36	6.86	5.74
Net income	1.76	2.01	2.72	4.06	-8.87	11	20.9	16.8	13.3	16.3
EBITDA	5.4	2.04	6.98	8.16	-9.56	15.2	29.8	24.9	24.4	27
EPS, basic	0.14	0.17	0.22	0.31	-0.73	1.00	2.08	2.03	1.72	2.19
EPS, diluted	0.14	0.17	0.22	0.31	-0.73	0.95	2.00	1.96	1.68	2.14
Shares, basic (weighted)	12.3	12	12.3	12.9	12.2	11	10.1	8.31	7.74	7.45
Shares, diluted (weighted)	12.4	12.1	12.4	13	12.2	11.6	10.4	8.59	7.94	7.64

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	0.28	2.85	0.48	1.85	0.73	0.24	0.34	6.28	4.73	2.92
Receivables	45.2	46.1	52.3	59.8	36	48.2	50.8	70.7	78
Other current assets	3.33	3.71	3.43	4.14	4.7	2.49	4.64	4.64	7.03	7.7
Total current assets	53.1	55.6	58.8	70.7	43.9	52	59	90.5	97	99.9
Property, plant and equipment	4.05	3.45	3.49	2.72	2.08	1.94	2.1	4.01	7.37	7.27
Lease right-of-use assets				5.82	2.41	1.88	3.67	2.78	5.17	4.83
Goodwill	12.3	11.7	17.5	16.4	16.4	16.4	22.1	22.1	22.1	22.1
Intangible assets	0.17	0.11	0.74	0.42	0.1	0	0.86	0.68	0
Total assets	69.8	73.3	81.5	96.2	68.3	72.9	88	120	132	134
Accounts payable	8.15	8.63	9.97	6.22	7.5	9.31	14.1	12.5	13.4	9.65
Accrued liabilities	7.19	7.78	9.03	7.71	12.9	13	13	11.2	9.93	10.8
Deferred revenue					0.4	3.42	1.12	1.88	4.16	14.8
Total current liabilities	23.7	22.2	23.2	21.4	28.7	29.9	40.4	58.2	53.6	53.9
Lease liabilities				3.92	2.64	1.63	2.93	2.27	4.36	3.81
Total liabilities	38.6	51.2	54.3	63.8	46.1	46.9	56	94.7	98.6	88.4
Paid-in capital	116	105	107	108	110	111	114	117	119	122
Retained earnings	-67.9	-65.9	-63.2	-59.1	-68	-57	-36.1	-19.3	-5.94	10.4
Treasury stock	-14.6	-15	-15	-15	-17.2	-26.3	-43.8	-69.6	-77.4	-84.8
Other comprehensive income	-2.58	-2.4	-2.76	-2.75	-2.55	-2.7	-2.86	-2.81	-2.92	-2.81
Shareholders' equity	31.3	22	27.2	32.4	22.2	26	32	25.8	33.5	46
Total equity	31.3	22	27.2	32.4	22.2	26	32	25.8	33.5	46
Total liabilities and equity	69.8	73.3	81.5	96.2	68.3	72.9	88	120	132	134
Shares outstanding	12	12.2	12.8	13	11.5	10.3	9.29	7.84	7.6	7.35

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	1.76	2.01	2.72	4.06	-8.87	11	20.9	16.8	13.3	16.3
Depreciation and amortization	1.57	1.76	1.57	1.59	1.39	1.1	1.04	1.21	2.1	1.92
Stock-based compensation	0.9	0.77	0.54	0.81	1.11	1.36	1.58	2.09	2.86	3.73
Deferred income tax	0.46	-2.14	1.43	1.11	-3.71	2.54	3.25	0.04	2.7	1.26
Change in receivables	5.43	-0.46	-7.68	-7.63	15.9	-14.7	-1.51	-20.6	-7.27
Change in payables	-0.29	-0.32	1.02	-3.09	1.59	1.52	4.92	-1.51	1.1	-3.48
Cash from operations	11.6	5.07	-0.06	-4.78	25.2	0.92	28.3	12.5	6.17	19
Capital expenditures	-0.85	-1.04	-1.52	-0.37	-0.46	-0.57	-0.89	-2.93	-2.57	-1.6
Acquisitions	0	-0.76	-1.07		0	0	-4.15	0
Cash from investing	-0.83	-1.8	-2.58	-0.36	-0.46	6.29	-4.82	-2.54	-2.57	-1.6
Stock issued	0.02	0.07
Share buybacks	-4.26	-0.37			-2.23	-9.04	-17.6	-25.8	-7.8	-7.36
Dividends paid	0	-12.2
Cash from financing	-11.6	-0.83	0.35	6.63	-25.6	-7.55	-23.1	-3.85	-4.83	-19
Exchange rate effect	0.05	0.13	-0.07	-0.12
Net change in cash	-0.71	2.57	-2.37	1.37	-1.11	-0.5	0.1	5.95	-1.56	-1.81
Free cash flow	10.8	4.03	-1.58	-5.15	24.8	0.35	27.4	9.55	3.6	17.4
Interest paid	0.46	0.5	1.16	1.66	1.03	0.42	0.3	1.19	2.15	2.63
Income taxes paid	0.93	0.52	0.35	0.29	0.26	1.01	5.1	4.45	5.35	6.11

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to July 4, 2026; growth uses fiscal years. Valuation uses the share price of $40.47 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	26.9%	Gross profit / revenue.
Operating margin	7.7%	Operating income / revenue.
EBITDA margin	8.4%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	6.9%	Pre-tax income / revenue.
Net margin	5.1%	Net income / revenue.
FCF margin	6.8%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	7.1%	Cash from operations / revenue.
Effective tax rate	26.0%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	35.0%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	12.8%	Net income / average total assets.
Return on invested capital (ROIC)	45.2%	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	18.5%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	1.1%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	0.3%	Capital expenditures / revenue.
D&A / revenue	0.7%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	14.7%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	3.9%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	16.3%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	10.2%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	2.0%	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	17.7%	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	12.4%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	-4.5%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA growth, 1y	10.6%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	-3.3%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income growth, 1y	22.6%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	-7.9%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS growth, 1y	27.4%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	2.3%	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	207.4%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-12.5%	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	-5.6%	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	382.8%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	-14.1%	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	-6.9%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	37.3%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	12.9%	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	1.8%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	15.2%	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	14.5%	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	-3.8%	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	-9.9%	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	-8.9%	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	1.92x	Current assets / current liabilities.
Quick ratio	0.13x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.13x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	63.6%	Total liabilities / total assets.
Working capital	$48.2M	Current assets - current liabilities.
Goodwill and intangibles / assets	16.5%	(Goodwill + intangible assets) / total assets.
Tangible book value	$26.7M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	2.49x	Revenue / average total assets.
Fixed asset turnover	52.5x	Revenue / average property, plant and equipment.
Days payables	22 days	365 x average accounts payable / cost of revenue.
FCF conversion	133.4%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	3.8%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$2.38	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	$46.42	Revenue / diluted weighted shares.
FCF per share	$3.18	Free cash flow / diluted weighted shares.
Operating cash flow per share	$3.30	Cash from operations / diluted weighted shares.
Book value per share	$6.89	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$3.76	Tangible book value / shares outstanding.
Cash per share	$0.93	(Cash + short-term investments) / shares outstanding.
Buybacks / FCF	39.0%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$287.8M	Share price x shares outstanding.
Enterprise value	$281.2M	Market cap + total debt - cash - short-term investments.
P/E	16.8x	Market cap / net income. Only when net income is positive.
P/S	0.86x	Market cap / revenue.
P/B	5.89x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	10.8x	Market cap / tangible book value, when positive.
P/FCF	12.6x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	12.1x	Market cap / cash from operations, when positive.
EV/Sales	0.84x	Enterprise value / revenue.
EV/EBIT	10.9x	Enterprise value / operating income, when both are positive.
EV/EBITDA	10.0x	Enterprise value / EBITDA, when both are positive.
EV/FCF	12.3x	Enterprise value / free cash flow, when both are positive.
FCF yield	7.9%	Free cash flow / market cap.
Earnings yield	5.9%	Net income / market cap (the inverse of P/E).
Shareholder yield	3.1%	(Dividends paid + share buybacks) / market cap.
PEG	7.37x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was RCM TECHNOLOGIES, INC.'s revenue in fiscal 2025?

RCM TECHNOLOGIES, INC. reported revenue of $319.4M for fiscal 2025, 14.7% higher than the year before.

Was RCM TECHNOLOGIES, INC. profitable in fiscal 2025?

Yes. Net income was $16.3M, a net margin of 5.1%.

How much free cash flow did RCM TECHNOLOGIES, INC. generate in fiscal 2025?

Cash from operations of $19.0M minus capital expenditures of $1.6M left free cash flow of $17.4M.

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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