CSP Inc. (CSPI) 10-Year Financial Performance & Capital Metrics

CSPI • • Industrial / General

TechnologyIT ServicesCybersecurity & Defense SolutionsCommercial Cybersecurity

AboutCSP Inc. develops and markets IT integration solutions, security products, managed IT services, purpose built network adapters, and cluster computer systems for commercial and defense customers worldwide. It operates in two segments, Technology Solutions and High Performance Products. The Technology Solutions segment provides third-party computer hardware and software as a value added reseller to various customers in Web and infrastructure hosting, education, telecommunications, healthcare services, distribution, financial and professional services, and manufacturing industries. This segment also offers professional IT consulting services, such as planning, designing, assessment, implementation, migration, optimization, and project management; storage and virtualization solutions; enterprise security intrusion prevention, network access control, and unified threat management services; and IT security compliance services. In addition, this segment provides unified communications, wireless, and routing and switching solutions; custom software applications and solutions development and support services; optimization, maintenance, and technical support services; and managed IT services, such as monitoring, reporting, and management of alerts for the resolution and preventive general IT, as well as IT security support tasks. Further, this segment offers managed and cloud services, such as proactive monitoring and remote management of IT infrastructure, managed and hosted unified communication services, security, and backup and replication. The High Performance Products segment offers ARIA Software-Defined Security, a cybersecurity solution; Myricom network adapters; and multicomputer products for digital signal processing applications in the defense markets. CSP Inc. was incorporated in 1968 and is headquartered in Lowell, Massachusetts.Show more

Revenue $59M +6.4%
EBITDA -$2M -123.3%
Net Income -$91K +72.1%
EPS (Diluted) -0.01 +72.9%
Gross Margin 31.52% -7.7%
EBITDA Margin -4.1% -109.9%
Operating Margin -5.29% -56.2%
Net Margin -0.15% +73.8%
ROE -0.2% +71.6%
ROIC -11.36% -82.9%
Debt/Equity 0.06 -41.4%
Interest Coverage -8.71 -9.3%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free

✗Weaknesses

✗Weak 3Y average ROE of 3.8%
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-4.1%

5Y-1.01%

3Y2.61%

TTM6.36%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM72.09%

EPS CAGR

10Y-

5Y-

3Y-

TTM-68.24%

ROCE

10Y Avg1.96%

5Y Avg-1.85%

3Y Avg-2%

Latest-6.23%

Peer Comparison

Commercial Cybersecurity

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
CYCUCycurion, Inc. Common Stock	9.72M	2.69	6.53	-8.16%	-111.31%	-113.18%		1.90
CSPICSP Inc.	118.66M	11.98	-1222.45	6.36%	-0.15%	-0.2%	1.6%	0.06

Profit & Loss

	Sep 2016	Sep 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024	Sep 2025
Sales/Revenue+	103.37M	111.48M	72.92M	79.06M	61.79M	49.21M	54.36M	64.65M	55.22M	58.73M
Revenue Growth %	0.16%	0.08%	-0.35%	0.08%	-0.22%	-0.2%	0.1%	0.19%	-0.15%	0.06%
Cost of Goods Sold+	78.33M	85.99M	54.52M	61.03M	44.63M	33.06M	35.53M	42.73M	36.36M	40.22M
COGS % of Revenue	0.76%	0.77%	0.75%	0.77%	0.72%	0.67%	0.65%	0.66%	0.66%	0.68%
Gross Profit+	25.04M	25.49M	18.4M	18.03M	17.17M	16.15M	18.83M	21.92M	18.86M	18.51M
Gross Margin %	0.24%	0.23%	0.25%	0.23%	0.28%	0.33%	0.35%	0.34%	0.34%	0.32%
Gross Profit Growth %	0.31%	0.02%	-0.28%	-0.02%	-0.05%	-0.06%	0.17%	0.16%	-0.14%	-0.02%
Operating Expenses+	21.24M	21.72M	20M	18.85M	18.59M	17.51M	18.87M	20.05M	20.73M	21.62M
OpEx % of Revenue	0.21%	0.19%	0.27%	0.24%	0.3%	0.36%	0.35%	0.31%	0.38%	0.37%
Selling, General & Admin	18.26M	19.36M	16.72M	16.05M	15.79M	14.62M	15.78M	16.91M	17.77M	18.37M
SG&A % of Revenue	0.18%	0.17%	0.23%	0.2%	0.26%	0.3%	0.29%	0.26%	0.32%	0.31%
Research & Development	2.98M	2.36M	3.28M	2.8M	2.8M	2.89M	3.08M	3.14M	2.96M	3.25M
R&D % of Revenue	0.03%	0.02%	0.04%	0.04%	0.05%	0.06%	0.06%	0.05%	0.05%	0.06%
Other Operating Expenses	-201K	21K	0	0	0	0	0	0	0	0
Operating Income+	3.8M	3.77M	-1.6M	-826K	-1.42M	-1.36M	-40K	1.87M	-1.87M	-3.11M
Operating Margin %	0.04%	0.03%	-0.02%	-0.01%	-0.02%	-0.03%	-0%	0.03%	-0.03%	-0.05%
Operating Income Growth %	15.82%	-0.01%	-1.42%	0.48%	-0.72%	0.04%	0.97%	47.75%	-2%	-0.66%
EBITDA+	4.5M	4.26M	-976K	-410K	-319K	-313K	904K	2.8M	-1.08M	-2.41M
EBITDA Margin %	0.04%	0.04%	-0.01%	-0.01%	-0.01%	-0.01%	0.02%	0.04%	-0.02%	-0.04%
EBITDA Growth %	4.16%	-0.05%	-1.23%	0.58%	0.22%	0.02%	3.89%	2.1%	-1.38%	-1.23%
D&A (Non-Cash Add-back)	699K	485K	625K	416K	1.1M	1.05M	944K	931K	794K	702K
EBIT	3.69M	3.4M	-1.02M	-343K	-834K	1.03M	2.3M	5M	-184K	-1.3M
Net Interest Income+	-80K	-62K	-65K	224K	354K	225K	290K	1.2M	1.81M	1.5M
Interest Income	7K	11K	20K	323K	582K	575K	650K	1.46M	2.05M	1.85M
Interest Expense	87K	73K	85K	99K	228K	350K	360K	262K	235K	357K
Other Income/Expense	-201K	10K	495K	384K	362K	2.04M	1.98M	2.87M	1.45M	1.45M
Pretax Income+	3.6M	3.79M	-1.11M	-442K	-1.06M	678K	1.94M	4.74M	-419K	-1.66M
Pretax Margin %	0.03%	0.03%	-0.02%	-0.01%	-0.02%	0.01%	0.04%	0.07%	-0.01%	-0.03%
Income Tax+	996K	1.29M	882K	-71K	384K	444K	50K	-469K	-93K	-1.57M
Effective Tax Rate %	0.72%	0.66%	-13.06%	0.84%	1.36%	0.35%	0.97%	1.1%	0.78%	0.05%
Net Income+	2.6M	2.51M	14.44M	-371K	-1.45M	234K	1.89M	5.2M	-326K	-91K
Net Margin %	0.03%	0.02%	0.2%	-0%	-0.02%	0%	0.03%	0.08%	-0.01%	-0%
Net Income Growth %	13.4%	-0.04%	4.76%	-1.03%	-2.9%	1.16%	7.07%	1.75%	-1.06%	0.72%
Net Income (Continuing)	2.6M	2.24M	-1.99M	-371K	-1.45M	234K	1.89M	5.2M	-326K	-91K
Discontinued Operations	0	263K	16.43M	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	0.67	0.63	3.70	-0.09	-0.35	0.06	0.21	0.55	-0.04	-0.01
EPS Growth %	12.32%	-0.06%	4.87%	-1.02%	-2.87%	1.16%	2.78%	1.62%	-1.07%	0.73%
EPS (Basic)	0.69	0.64	3.78	-0.09	-0.36	0.06	0.21	0.56	-0.04	-0.01
Diluted Shares Outstanding	3.73M	3.82M	3.9M	4.1M	4.1M	4.21M	8.56M	8.94M	9.04M	9.3M
Basic Shares Outstanding	3.61M	3.72M	3.82M	4M	4.06M	4.13M	8.52M	8.76M	9.04M	9.3M
Dividend Payout Ratio	0.64%	0.69%	0.13%	-	-	-	0.07%	0.13%	-	-

Balance Sheet

	Sep 2016	Sep 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024	Sep 2025
Total Current Assets+	41.82M	51.72M	48.41M	46.53M	41.59M	49.03M	59.46M	50.36M	54.85M	52.32M
Cash & Short-Term Investments	13.1M	13.88M	25.11M	18.1M	19.26M	20.01M	23.98M	25.22M	30.59M	27.42M
Cash Only	13.1M	13.88M	25.11M	18.1M	19.26M	20.01M	23.98M	25.22M	30.59M	27.42M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	19.56M	18.38M	13.39M	16.08M	14.7M	18.7M	22.99M	21.03M	18.88M	20.94M
Days Sales Outstanding	69.08	60.16	67.04	74.24	86.82	138.69	154.38	118.76	124.78	130.13
Inventory	6.15M	5.97M	7.56M	7.82M	5.29M	3.99M	4.37M	2.54M	2.29M	1.44M
Days Inventory Outstanding	28.65	25.34	50.6	46.75	43.23	44.04	44.91	21.72	23.02	13.09
Other Current Assets	3M	15.96M	2.6M	5.5M	3.68M	6.34M	8.11M	1.57M	3.09M	2.52M
Total Non-Current Assets+	6.89M	7.21M	6.86M	12.84M	12.06M	13.94M	15.61M	15.54M	14.59M	18.84M
Property, Plant & Equipment	1.68M	1.51M	847K	1.27M	3.06M	2.12M	1.81M	1.49M	918K	2.19M
Fixed Asset Turnover	61.53x	73.93x	86.09x	62.11x	20.19x	23.19x	30.08x	43.36x	60.15x	26.87x
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	287K	167K	48K	37K	28K	19K	10K	46K	50K	69K
Long-Term Investments	-2.01M	-1.6M	564K	417K	81K	15K	3K	1.83M	2.93M	6.01M
Other Non-Current Assets	5.21M	5.7M	3.51M	9.16M	7.74M	4.3M	13.46M	9.82M	7.95M	6.02M
Total Assets+	48.71M	58.93M	55.27M	59.37M	53.65M	62.97M	75.06M	65.9M	69.44M	71.16M
Asset Turnover	2.12x	1.89x	1.32x	1.33x	1.15x	0.78x	0.72x	0.98x	0.80x	0.83x
Asset Growth %	0.04%	0.21%	-0.06%	0.07%	-0.1%	0.17%	0.19%	-0.12%	0.05%	0.02%
Total Current Liabilities+	30.82M	37.84M	14.06M	20.03M	12.98M	17.83M	30.18M	15.66M	18.68M	22.18M
Accounts Payable	7.51M	8.12M	4.47M	13.49M	5.6M	11.27M	19.24M	6.72M	9.26M	16.63M
Days Payables Outstanding	35	34.47	29.9	80.7	45.84	124.44	197.64	57.4	92.97	150.88
Short-Term Debt	0	3.11M	3.25M	2.78M	3.19M	1.7M	3.55M	1.96M	4.17M	903K
Deferred Revenue (Current)	1000K	1000K	1000K	741K	947K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	2.28M	11.58M	2.18M	1.33M	1.34M	503K	430K	991K	-164K	1.5M
Current Ratio	1.36x	1.37x	3.44x	2.32x	3.20x	2.75x	1.97x	3.22x	2.94x	2.36x
Quick Ratio	1.16x	1.21x	2.91x	1.93x	2.80x	2.53x	1.83x	3.05x	2.81x	2.29x
Cash Conversion Cycle	62.73	51.04	87.74	40.29	84.21	58.29	1.65	83.08	54.83	-7.66
Total Non-Current Liabilities+	228K	86K	7.41M	8.91M	11.13M	11.1M	5.92M	4.1M	3.48M	4.43M
Long-Term Debt	0	0	0	684K	2.48M	876K	449K	0	0	0
Capital Lease Obligations	0	0	0	0	1.39M	821K	623K	482K	117K	1.34M
Deferred Tax Liabilities	0	0	0	0	-150K	-4.78M	330K	0	0	0
Other Non-Current Liabilities	13.67M	11.9M	7.41M	8.23M	7.26M	9.4M	4.84M	3.62M	3.37M	3.09M
Total Liabilities	31.05M	37.93M	21.47M	28.94M	24.11M	28.93M	36.1M	19.76M	22.17M	26.61M
Total Debt+	0	3.11M	3.25M	3.46M	8.01M	4.01M	5.18M	2.95M	4.67M	2.58M
Net Debt	-13.1M	-10.78M	-21.86M	-14.64M	-11.25M	-16M	-18.8M	-22.27M	-25.92M	-24.84M
Debt / Equity	-	0.15x	0.10x	0.11x	0.27x	0.12x	0.13x	0.06x	0.10x	0.06x
Debt / EBITDA	-	0.73x	-	-	-	-	5.73x	1.05x	-	-
Net Debt / EBITDA	-2.91x	-2.53x	-	-	-	-	-20.80x	-7.95x	-	-
Interest Coverage	43.69x	51.67x	-18.84x	-8.34x	-6.25x	-3.89x	-0.11x	7.14x	-7.97x	-8.71x
Total Equity+	17.66M	21M	33.8M	30.43M	29.53M	34.05M	38.96M	46.15M	47.27M	44.55M
Equity Growth %	-0.1%	0.19%	0.61%	-0.1%	-0.03%	0.15%	0.14%	0.18%	0.02%	-0.06%
Book Value per Share	4.73	5.50	8.66	7.42	7.21	8.09	4.55	5.16	5.23	4.79
Total Shareholders' Equity	17.66M	21M	33.8M	30.43M	29.53M	34.05M	38.96M	46.15M	47.27M	44.55M
Common Stock	39K	40K	40K	42K	43K	45K	46K	48K	98K	99K
Retained Earnings	16.62M	17.41M	29.93M	27.25M	24.49M	25.19M	26.77M	31.31M	29.85M	27.7M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-11.93M	-10.16M	-10.82M	-12.59M	-11.99M	-9.45M	-7.33M	-6.09M	-5.37M	-7.99M
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Sep 2016	Sep 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024	Sep 2025
Cash from Operations+	5M	2.66M	3.02M	-3.33M	244K	1.9M	2.67M	3.91M	4.21M	2.27M
Operating CF Margin %	0.05%	0.02%	0.04%	-0.04%	0%	0.04%	0.05%	0.06%	0.08%	0.04%
Operating CF Growth %	3.14%	-0.47%	0.13%	-2.1%	1.07%	6.8%	0.41%	0.46%	0.08%	-0.46%
Net Income	2.6M	2.51M	-2.4M	-371K	-1.45M	699K	1.89M	5.2M	-326K	-91K
Depreciation & Amortization	699K	673K	625K	416K	452K	388K	935K	931K	794K	702K
Stock-Based Compensation	414K	577K	691K	792K	982K	981K	979K	1.13M	1.58M	1.77M
Deferred Taxes	-18K	262K	173K	-209K	797K	1.15M	0	-2.35M	-387K	-1.82M
Other Non-Cash Items	422K	214K	4.76M	265K	1.04M	-1.05M	-2.83M	755K	682K	36K
Working Capital Changes	883K	-1.57M	-832K	-4.22M	-1.58M	-263K	1.71M	-1.76M	1.87M	1.68M
Change in Receivables	-8K	-8.1M	5.19M	-2.13M	1.75M	-5.38M	-4.26M	3.9M	-1.57M	-5.19M
Change in Inventory	-471K	-660K	-2.56M	-777K	2.1M	1.26M	-517K	1.56M	-95K	669K
Change in Payables	-1.65M	6.48M	-2.4M	7.23M	-5.24M	5.73M	8.71M	-11.6M	1.38M	7.48M
Cash from Investing+	-896K	-508K	13.64M	-976K	-345K	-166K	20K	-341K	-256K	-428K
Capital Expenditures	-735K	-358K	-438K	-832K	-230K	-98K	-234K	-277K	-196K	-348K
CapEx % of Revenue	0.01%	0%	0.01%	0.01%	0%	0%	0%	0%	0%	0.01%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-161K	-301K	14.23M	-144K	-115K	-70K	252K	-64K	-60K	-80K
Cash from Financing+	-1.41M	-1.51M	-1.74M	-2.25M	832K	-954K	1.33M	-2.4M	1.38M	-5.04M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-1.67M	-1.72M	-1.92M	-2.47M	-1.26M	0	-137K	-656K	-1.02M	-1.19M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	263K	216K	253K	280K	279K	0	239K	280K	274K	286K
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	4.27M	2.3M	2.58M	-4.16M	14K	1.8M	2.44M	3.63M	4.02M	1.89M
FCF Margin %	0.04%	0.02%	0.04%	-0.05%	0%	0.04%	0.04%	0.06%	0.07%	0.03%
FCF Growth %	2.39%	-0.46%	0.12%	-2.61%	1%	127.93%	0.35%	0.49%	0.11%	-0.53%
FCF per Share	1.14	0.60	0.66	-1.01	0.00	0.43	0.29	0.41	0.44	0.20
FCF Conversion (FCF/Net Income)	1.92x	1.06x	0.21x	8.97x	-0.17x	8.13x	1.42x	0.75x	-12.92x	-24.92x
Interest Paid	86K	75K	73K	68K	277K	189K	0	313K	206K	137K
Taxes Paid	334K	1.14M	900K	52K	22K	114K	0	246K	1.6M	446K

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	13.98%	12.97%	52.7%	-1.16%	-4.82%	0.74%	5.17%	12.23%	-0.7%	-0.2%
Return on Invested Capital (ROIC)	43.99%	38.29%	-10.83%	-4.47%	-6.27%	-5.62%	-0.16%	6.37%	-6.21%	-11.36%
Gross Margin	24.23%	22.86%	25.23%	22.8%	27.78%	32.82%	34.63%	33.91%	34.15%	31.52%
Net Margin	2.52%	2.25%	19.8%	-0.47%	-2.34%	0.48%	3.47%	8.05%	-0.59%	-0.15%
Debt / Equity	-	0.15x	0.10x	0.11x	0.27x	0.12x	0.13x	0.06x	0.10x	0.06x
Interest Coverage	43.69x	51.67x	-18.84x	-8.34x	-6.25x	-3.89x	-0.11x	7.14x	-7.97x	-8.71x
FCF Conversion	1.92x	1.06x	0.21x	8.97x	-0.17x	8.13x	1.42x	0.75x	-12.92x	-24.92x
Revenue Growth	15.74%	7.85%	-34.59%	8.43%	-21.84%	-20.37%	10.47%	18.92%	-14.58%	6.36%

Revenue by Segment

	2014	2015	2016	2017	2018	2019	2020	2021	2024	2025
Product	-	-	-	-	-	-	-	-	36.79M	37.75M
Product Growth	-	-	-	-	-	-	-	-	-	2.60%
Service	-	-	-	-	-	-	-	-	18.43M	20.98M
Service Growth	-	-	-	-	-	-	-	-	-	13.87%
Technology Solutions	-	-	-	-	-	-	55.92M	44.59M	-	-
Technology Solutions Growth	-	-	-	-	-	-	-	-20.27%	-	-
Systems	5.38M	4.05M	5.15M	6.24M	3.46M	7.9M	5.88M	4.62M	-	-
Systems Growth	-	-24.70%	27.08%	21.04%	-44.44%	128.05%	-25.64%	-21.32%	-	-
Total Service And System Integration	20.36M	18.8M	20.38M	20.57M	9.79M	71.16M	-	-	-	-
Total Service And System Integration Growth	-	-7.63%	8.38%	0.94%	-52.41%	626.85%	-	-	-	-
U S	-	-	-	-	-	65.84M	-	-	-	-
U S Growth	-	-	-	-	-	-	-	-	-	-
U K	-	-	-	-	-	5.32M	-	-	-	-
U K Growth	-	-	-	-	-	-	-	-	-	-
US	3.27M	2.65M	4.33M	5.14M	9.18M	-	-	-	-	-
US Growth	-	-19.00%	63.33%	18.84%	78.68%	-	-	-	-	-
UK	1.3M	1.11M	925K	763K	606K	-	-	-	-	-
UK Growth	-	-14.24%	-16.97%	-17.51%	-20.58%	-	-	-	-	-

Revenue by Geography

	2014	2015	2016	2017	2018	2019	2020	2021	2024	2025
Americas Excluding United States	-	-	-	-	-	-	-	-	4.52M	4.53M
Americas Excluding United States Growth	-	-	-	-	-	-	-	-	-	0.09%
Europe	992K	1.14M	1.58M	1.44M	1.27M	-	-	-	1.13M	1.36M
Europe Growth	-	14.42%	39.56%	-9.28%	-11.90%	-	-	-	-	21.07%
Asia Pacific	-	-	-	-	-	-	-	-	786K	-
Asia Pacific Growth	-	-	-	-	-	-	-	-	-	-
Systems	-	-	-	-	-	-	5.88M	4.62M	-	-
Systems Growth	-	-	-	-	-	-	-	-21.32%	-	-
U S	-	-	-	-	-	54.67M	-	-	-	-
U S Growth	-	-	-	-	-	-	-	-	-	-
U K	-	-	-	-	-	5.32M	-	-	-	-
U K Growth	-	-	-	-	-	-	-	-	-	-
Americas	10.92M	10.77M	11.42M	10.34M	8.42M	-	-	-	-	-
Americas Growth	-	-1.32%	5.97%	-9.43%	-18.53%	-	-	-	-	-
Asia	2.63M	2.04M	3.34M	2.07M	789K	-	-	-	-	-
Asia Growth	-	-22.32%	63.85%	-38.13%	-61.83%	-	-	-	-	-

Frequently Asked Questions

Growth & Financials

CSP Inc. (CSPI) reported $58.7M in revenue for fiscal year 2025. This represents a 31% decrease from $84.8M in 2012.

CSP Inc. (CSPI) grew revenue by 6.4% over the past year. This is steady growth.

CSP Inc. (CSPI) reported a net loss of $0.1M for fiscal year 2025.

Dividend & Returns

Yes, CSP Inc. (CSPI) pays a dividend with a yield of 1.07%. This makes it attractive for income-focused investors.

CSP Inc. (CSPI) has a return on equity (ROE) of -0.2%. Negative ROE indicates the company is unprofitable.

CSP Inc. (CSPI) generated $1.9M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

US Stock Screener

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CSP Inc. (CSPI) 10-Year Financial Performance & Capital Metrics

CSPI • • Industrial / General

TechnologyIT ServicesCybersecurity & Defense SolutionsCommercial Cybersecurity

Revenue $59M +6.4%
EBITDA -$2M -123.3%
Net Income -$91K +72.1%
EPS (Diluted) -0.01 +72.9%
Gross Margin 31.52% -7.7%
EBITDA Margin -4.1% -109.9%
Operating Margin -5.29% -56.2%
Net Margin -0.15% +73.8%
ROE -0.2% +71.6%
ROIC -11.36% -82.9%
Debt/Equity 0.06 -41.4%
Interest Coverage -8.71 -9.3%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free

✗Weaknesses

✗Weak 3Y average ROE of 3.8%
✗Trading more than 30% below 52-week high

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-4.1%

5Y-1.01%

3Y2.61%

TTM6.36%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM72.09%

EPS CAGR

10Y-

5Y-

3Y-

TTM-68.24%

ROCE

10Y Avg1.96%

5Y Avg-1.85%

3Y Avg-2%

Latest-6.23%

Peer Comparison

Commercial Cybersecurity

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
CYCUCycurion, Inc. Common Stock	9.72M	2.69	6.53	-8.16%	-111.31%	-113.18%		1.90
CSPICSP Inc.	118.66M	11.98	-1222.45	6.36%	-0.15%	-0.2%	1.6%	0.06

Profit & Loss

	Sep 2016	Sep 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024	Sep 2025
Sales/Revenue+	103.37M	111.48M	72.92M	79.06M	61.79M	49.21M	54.36M	64.65M	55.22M	58.73M
Revenue Growth %	0.16%	0.08%	-0.35%	0.08%	-0.22%	-0.2%	0.1%	0.19%	-0.15%	0.06%
Cost of Goods Sold+	78.33M	85.99M	54.52M	61.03M	44.63M	33.06M	35.53M	42.73M	36.36M	40.22M
COGS % of Revenue	0.76%	0.77%	0.75%	0.77%	0.72%	0.67%	0.65%	0.66%	0.66%	0.68%
Gross Profit+	25.04M	25.49M	18.4M	18.03M	17.17M	16.15M	18.83M	21.92M	18.86M	18.51M
Gross Margin %	0.24%	0.23%	0.25%	0.23%	0.28%	0.33%	0.35%	0.34%	0.34%	0.32%
Gross Profit Growth %	0.31%	0.02%	-0.28%	-0.02%	-0.05%	-0.06%	0.17%	0.16%	-0.14%	-0.02%
Operating Expenses+	21.24M	21.72M	20M	18.85M	18.59M	17.51M	18.87M	20.05M	20.73M	21.62M
OpEx % of Revenue	0.21%	0.19%	0.27%	0.24%	0.3%	0.36%	0.35%	0.31%	0.38%	0.37%
Selling, General & Admin	18.26M	19.36M	16.72M	16.05M	15.79M	14.62M	15.78M	16.91M	17.77M	18.37M
SG&A % of Revenue	0.18%	0.17%	0.23%	0.2%	0.26%	0.3%	0.29%	0.26%	0.32%	0.31%
Research & Development	2.98M	2.36M	3.28M	2.8M	2.8M	2.89M	3.08M	3.14M	2.96M	3.25M
R&D % of Revenue	0.03%	0.02%	0.04%	0.04%	0.05%	0.06%	0.06%	0.05%	0.05%	0.06%
Other Operating Expenses	-201K	21K	0	0	0	0	0	0	0	0
Operating Income+	3.8M	3.77M	-1.6M	-826K	-1.42M	-1.36M	-40K	1.87M	-1.87M	-3.11M
Operating Margin %	0.04%	0.03%	-0.02%	-0.01%	-0.02%	-0.03%	-0%	0.03%	-0.03%	-0.05%
Operating Income Growth %	15.82%	-0.01%	-1.42%	0.48%	-0.72%	0.04%	0.97%	47.75%	-2%	-0.66%
EBITDA+	4.5M	4.26M	-976K	-410K	-319K	-313K	904K	2.8M	-1.08M	-2.41M
EBITDA Margin %	0.04%	0.04%	-0.01%	-0.01%	-0.01%	-0.01%	0.02%	0.04%	-0.02%	-0.04%
EBITDA Growth %	4.16%	-0.05%	-1.23%	0.58%	0.22%	0.02%	3.89%	2.1%	-1.38%	-1.23%
D&A (Non-Cash Add-back)	699K	485K	625K	416K	1.1M	1.05M	944K	931K	794K	702K
EBIT	3.69M	3.4M	-1.02M	-343K	-834K	1.03M	2.3M	5M	-184K	-1.3M
Net Interest Income+	-80K	-62K	-65K	224K	354K	225K	290K	1.2M	1.81M	1.5M
Interest Income	7K	11K	20K	323K	582K	575K	650K	1.46M	2.05M	1.85M
Interest Expense	87K	73K	85K	99K	228K	350K	360K	262K	235K	357K
Other Income/Expense	-201K	10K	495K	384K	362K	2.04M	1.98M	2.87M	1.45M	1.45M
Pretax Income+	3.6M	3.79M	-1.11M	-442K	-1.06M	678K	1.94M	4.74M	-419K	-1.66M
Pretax Margin %	0.03%	0.03%	-0.02%	-0.01%	-0.02%	0.01%	0.04%	0.07%	-0.01%	-0.03%
Income Tax+	996K	1.29M	882K	-71K	384K	444K	50K	-469K	-93K	-1.57M
Effective Tax Rate %	0.72%	0.66%	-13.06%	0.84%	1.36%	0.35%	0.97%	1.1%	0.78%	0.05%
Net Income+	2.6M	2.51M	14.44M	-371K	-1.45M	234K	1.89M	5.2M	-326K	-91K
Net Margin %	0.03%	0.02%	0.2%	-0%	-0.02%	0%	0.03%	0.08%	-0.01%	-0%
Net Income Growth %	13.4%	-0.04%	4.76%	-1.03%	-2.9%	1.16%	7.07%	1.75%	-1.06%	0.72%
Net Income (Continuing)	2.6M	2.24M	-1.99M	-371K	-1.45M	234K	1.89M	5.2M	-326K	-91K
Discontinued Operations	0	263K	16.43M	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	0.67	0.63	3.70	-0.09	-0.35	0.06	0.21	0.55	-0.04	-0.01
EPS Growth %	12.32%	-0.06%	4.87%	-1.02%	-2.87%	1.16%	2.78%	1.62%	-1.07%	0.73%
EPS (Basic)	0.69	0.64	3.78	-0.09	-0.36	0.06	0.21	0.56	-0.04	-0.01
Diluted Shares Outstanding	3.73M	3.82M	3.9M	4.1M	4.1M	4.21M	8.56M	8.94M	9.04M	9.3M
Basic Shares Outstanding	3.61M	3.72M	3.82M	4M	4.06M	4.13M	8.52M	8.76M	9.04M	9.3M
Dividend Payout Ratio	0.64%	0.69%	0.13%	-	-	-	0.07%	0.13%	-	-

Balance Sheet

	Sep 2016	Sep 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024	Sep 2025
Total Current Assets+	41.82M	51.72M	48.41M	46.53M	41.59M	49.03M	59.46M	50.36M	54.85M	52.32M
Cash & Short-Term Investments	13.1M	13.88M	25.11M	18.1M	19.26M	20.01M	23.98M	25.22M	30.59M	27.42M
Cash Only	13.1M	13.88M	25.11M	18.1M	19.26M	20.01M	23.98M	25.22M	30.59M	27.42M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	19.56M	18.38M	13.39M	16.08M	14.7M	18.7M	22.99M	21.03M	18.88M	20.94M
Days Sales Outstanding	69.08	60.16	67.04	74.24	86.82	138.69	154.38	118.76	124.78	130.13
Inventory	6.15M	5.97M	7.56M	7.82M	5.29M	3.99M	4.37M	2.54M	2.29M	1.44M
Days Inventory Outstanding	28.65	25.34	50.6	46.75	43.23	44.04	44.91	21.72	23.02	13.09
Other Current Assets	3M	15.96M	2.6M	5.5M	3.68M	6.34M	8.11M	1.57M	3.09M	2.52M
Total Non-Current Assets+	6.89M	7.21M	6.86M	12.84M	12.06M	13.94M	15.61M	15.54M	14.59M	18.84M
Property, Plant & Equipment	1.68M	1.51M	847K	1.27M	3.06M	2.12M	1.81M	1.49M	918K	2.19M
Fixed Asset Turnover	61.53x	73.93x	86.09x	62.11x	20.19x	23.19x	30.08x	43.36x	60.15x	26.87x
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	287K	167K	48K	37K	28K	19K	10K	46K	50K	69K
Long-Term Investments	-2.01M	-1.6M	564K	417K	81K	15K	3K	1.83M	2.93M	6.01M
Other Non-Current Assets	5.21M	5.7M	3.51M	9.16M	7.74M	4.3M	13.46M	9.82M	7.95M	6.02M
Total Assets+	48.71M	58.93M	55.27M	59.37M	53.65M	62.97M	75.06M	65.9M	69.44M	71.16M
Asset Turnover	2.12x	1.89x	1.32x	1.33x	1.15x	0.78x	0.72x	0.98x	0.80x	0.83x
Asset Growth %	0.04%	0.21%	-0.06%	0.07%	-0.1%	0.17%	0.19%	-0.12%	0.05%	0.02%
Total Current Liabilities+	30.82M	37.84M	14.06M	20.03M	12.98M	17.83M	30.18M	15.66M	18.68M	22.18M
Accounts Payable	7.51M	8.12M	4.47M	13.49M	5.6M	11.27M	19.24M	6.72M	9.26M	16.63M
Days Payables Outstanding	35	34.47	29.9	80.7	45.84	124.44	197.64	57.4	92.97	150.88
Short-Term Debt	0	3.11M	3.25M	2.78M	3.19M	1.7M	3.55M	1.96M	4.17M	903K
Deferred Revenue (Current)	1000K	1000K	1000K	741K	947K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	2.28M	11.58M	2.18M	1.33M	1.34M	503K	430K	991K	-164K	1.5M
Current Ratio	1.36x	1.37x	3.44x	2.32x	3.20x	2.75x	1.97x	3.22x	2.94x	2.36x
Quick Ratio	1.16x	1.21x	2.91x	1.93x	2.80x	2.53x	1.83x	3.05x	2.81x	2.29x
Cash Conversion Cycle	62.73	51.04	87.74	40.29	84.21	58.29	1.65	83.08	54.83	-7.66
Total Non-Current Liabilities+	228K	86K	7.41M	8.91M	11.13M	11.1M	5.92M	4.1M	3.48M	4.43M
Long-Term Debt	0	0	0	684K	2.48M	876K	449K	0	0	0
Capital Lease Obligations	0	0	0	0	1.39M	821K	623K	482K	117K	1.34M
Deferred Tax Liabilities	0	0	0	0	-150K	-4.78M	330K	0	0	0
Other Non-Current Liabilities	13.67M	11.9M	7.41M	8.23M	7.26M	9.4M	4.84M	3.62M	3.37M	3.09M
Total Liabilities	31.05M	37.93M	21.47M	28.94M	24.11M	28.93M	36.1M	19.76M	22.17M	26.61M
Total Debt+	0	3.11M	3.25M	3.46M	8.01M	4.01M	5.18M	2.95M	4.67M	2.58M
Net Debt	-13.1M	-10.78M	-21.86M	-14.64M	-11.25M	-16M	-18.8M	-22.27M	-25.92M	-24.84M
Debt / Equity	-	0.15x	0.10x	0.11x	0.27x	0.12x	0.13x	0.06x	0.10x	0.06x
Debt / EBITDA	-	0.73x	-	-	-	-	5.73x	1.05x	-	-
Net Debt / EBITDA	-2.91x	-2.53x	-	-	-	-	-20.80x	-7.95x	-	-
Interest Coverage	43.69x	51.67x	-18.84x	-8.34x	-6.25x	-3.89x	-0.11x	7.14x	-7.97x	-8.71x
Total Equity+	17.66M	21M	33.8M	30.43M	29.53M	34.05M	38.96M	46.15M	47.27M	44.55M
Equity Growth %	-0.1%	0.19%	0.61%	-0.1%	-0.03%	0.15%	0.14%	0.18%	0.02%	-0.06%
Book Value per Share	4.73	5.50	8.66	7.42	7.21	8.09	4.55	5.16	5.23	4.79
Total Shareholders' Equity	17.66M	21M	33.8M	30.43M	29.53M	34.05M	38.96M	46.15M	47.27M	44.55M
Common Stock	39K	40K	40K	42K	43K	45K	46K	48K	98K	99K
Retained Earnings	16.62M	17.41M	29.93M	27.25M	24.49M	25.19M	26.77M	31.31M	29.85M	27.7M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-11.93M	-10.16M	-10.82M	-12.59M	-11.99M	-9.45M	-7.33M	-6.09M	-5.37M	-7.99M
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Sep 2016	Sep 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024	Sep 2025
Cash from Operations+	5M	2.66M	3.02M	-3.33M	244K	1.9M	2.67M	3.91M	4.21M	2.27M
Operating CF Margin %	0.05%	0.02%	0.04%	-0.04%	0%	0.04%	0.05%	0.06%	0.08%	0.04%
Operating CF Growth %	3.14%	-0.47%	0.13%	-2.1%	1.07%	6.8%	0.41%	0.46%	0.08%	-0.46%
Net Income	2.6M	2.51M	-2.4M	-371K	-1.45M	699K	1.89M	5.2M	-326K	-91K
Depreciation & Amortization	699K	673K	625K	416K	452K	388K	935K	931K	794K	702K
Stock-Based Compensation	414K	577K	691K	792K	982K	981K	979K	1.13M	1.58M	1.77M
Deferred Taxes	-18K	262K	173K	-209K	797K	1.15M	0	-2.35M	-387K	-1.82M
Other Non-Cash Items	422K	214K	4.76M	265K	1.04M	-1.05M	-2.83M	755K	682K	36K
Working Capital Changes	883K	-1.57M	-832K	-4.22M	-1.58M	-263K	1.71M	-1.76M	1.87M	1.68M
Change in Receivables	-8K	-8.1M	5.19M	-2.13M	1.75M	-5.38M	-4.26M	3.9M	-1.57M	-5.19M
Change in Inventory	-471K	-660K	-2.56M	-777K	2.1M	1.26M	-517K	1.56M	-95K	669K
Change in Payables	-1.65M	6.48M	-2.4M	7.23M	-5.24M	5.73M	8.71M	-11.6M	1.38M	7.48M
Cash from Investing+	-896K	-508K	13.64M	-976K	-345K	-166K	20K	-341K	-256K	-428K
Capital Expenditures	-735K	-358K	-438K	-832K	-230K	-98K	-234K	-277K	-196K	-348K
CapEx % of Revenue	0.01%	0%	0.01%	0.01%	0%	0%	0%	0%	0%	0.01%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-161K	-301K	14.23M	-144K	-115K	-70K	252K	-64K	-60K	-80K
Cash from Financing+	-1.41M	-1.51M	-1.74M	-2.25M	832K	-954K	1.33M	-2.4M	1.38M	-5.04M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-1.67M	-1.72M	-1.92M	-2.47M	-1.26M	0	-137K	-656K	-1.02M	-1.19M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	263K	216K	253K	280K	279K	0	239K	280K	274K	286K
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	4.27M	2.3M	2.58M	-4.16M	14K	1.8M	2.44M	3.63M	4.02M	1.89M
FCF Margin %	0.04%	0.02%	0.04%	-0.05%	0%	0.04%	0.04%	0.06%	0.07%	0.03%
FCF Growth %	2.39%	-0.46%	0.12%	-2.61%	1%	127.93%	0.35%	0.49%	0.11%	-0.53%
FCF per Share	1.14	0.60	0.66	-1.01	0.00	0.43	0.29	0.41	0.44	0.20
FCF Conversion (FCF/Net Income)	1.92x	1.06x	0.21x	8.97x	-0.17x	8.13x	1.42x	0.75x	-12.92x	-24.92x
Interest Paid	86K	75K	73K	68K	277K	189K	0	313K	206K	137K
Taxes Paid	334K	1.14M	900K	52K	22K	114K	0	246K	1.6M	446K

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	13.98%	12.97%	52.7%	-1.16%	-4.82%	0.74%	5.17%	12.23%	-0.7%	-0.2%
Return on Invested Capital (ROIC)	43.99%	38.29%	-10.83%	-4.47%	-6.27%	-5.62%	-0.16%	6.37%	-6.21%	-11.36%
Gross Margin	24.23%	22.86%	25.23%	22.8%	27.78%	32.82%	34.63%	33.91%	34.15%	31.52%
Net Margin	2.52%	2.25%	19.8%	-0.47%	-2.34%	0.48%	3.47%	8.05%	-0.59%	-0.15%
Debt / Equity	-	0.15x	0.10x	0.11x	0.27x	0.12x	0.13x	0.06x	0.10x	0.06x
Interest Coverage	43.69x	51.67x	-18.84x	-8.34x	-6.25x	-3.89x	-0.11x	7.14x	-7.97x	-8.71x
FCF Conversion	1.92x	1.06x	0.21x	8.97x	-0.17x	8.13x	1.42x	0.75x	-12.92x	-24.92x
Revenue Growth	15.74%	7.85%	-34.59%	8.43%	-21.84%	-20.37%	10.47%	18.92%	-14.58%	6.36%

Revenue by Segment

	2014	2015	2016	2017	2018	2019	2020	2021	2024	2025
Product	-	-	-	-	-	-	-	-	36.79M	37.75M
Product Growth	-	-	-	-	-	-	-	-	-	2.60%
Service	-	-	-	-	-	-	-	-	18.43M	20.98M
Service Growth	-	-	-	-	-	-	-	-	-	13.87%
Technology Solutions	-	-	-	-	-	-	55.92M	44.59M	-	-
Technology Solutions Growth	-	-	-	-	-	-	-	-20.27%	-	-
Systems	5.38M	4.05M	5.15M	6.24M	3.46M	7.9M	5.88M	4.62M	-	-
Systems Growth	-	-24.70%	27.08%	21.04%	-44.44%	128.05%	-25.64%	-21.32%	-	-
Total Service And System Integration	20.36M	18.8M	20.38M	20.57M	9.79M	71.16M	-	-	-	-
Total Service And System Integration Growth	-	-7.63%	8.38%	0.94%	-52.41%	626.85%	-	-	-	-
U S	-	-	-	-	-	65.84M	-	-	-	-
U S Growth	-	-	-	-	-	-	-	-	-	-
U K	-	-	-	-	-	5.32M	-	-	-	-
U K Growth	-	-	-	-	-	-	-	-	-	-
US	3.27M	2.65M	4.33M	5.14M	9.18M	-	-	-	-	-
US Growth	-	-19.00%	63.33%	18.84%	78.68%	-	-	-	-	-
UK	1.3M	1.11M	925K	763K	606K	-	-	-	-	-
UK Growth	-	-14.24%	-16.97%	-17.51%	-20.58%	-	-	-	-	-

Revenue by Geography

	2014	2015	2016	2017	2018	2019	2020	2021	2024	2025
Americas Excluding United States	-	-	-	-	-	-	-	-	4.52M	4.53M
Americas Excluding United States Growth	-	-	-	-	-	-	-	-	-	0.09%
Europe	992K	1.14M	1.58M	1.44M	1.27M	-	-	-	1.13M	1.36M
Europe Growth	-	14.42%	39.56%	-9.28%	-11.90%	-	-	-	-	21.07%
Asia Pacific	-	-	-	-	-	-	-	-	786K	-
Asia Pacific Growth	-	-	-	-	-	-	-	-	-	-
Systems	-	-	-	-	-	-	5.88M	4.62M	-	-
Systems Growth	-	-	-	-	-	-	-	-21.32%	-	-
U S	-	-	-	-	-	54.67M	-	-	-	-
U S Growth	-	-	-	-	-	-	-	-	-	-
U K	-	-	-	-	-	5.32M	-	-	-	-
U K Growth	-	-	-	-	-	-	-	-	-	-
Americas	10.92M	10.77M	11.42M	10.34M	8.42M	-	-	-	-	-
Americas Growth	-	-1.32%	5.97%	-9.43%	-18.53%	-	-	-	-	-
Asia	2.63M	2.04M	3.34M	2.07M	789K	-	-	-	-	-
Asia Growth	-	-22.32%	63.85%	-38.13%	-61.83%	-	-	-	-	-

Frequently Asked Questions

Growth & Financials

CSP Inc. (CSPI) reported $58.7M in revenue for fiscal year 2025. This represents a 31% decrease from $84.8M in 2012.

CSP Inc. (CSPI) grew revenue by 6.4% over the past year. This is steady growth.

CSP Inc. (CSPI) reported a net loss of $0.1M for fiscal year 2025.

Dividend & Returns

Yes, CSP Inc. (CSPI) pays a dividend with a yield of 1.07%. This makes it attractive for income-focused investors.

CSP Inc. (CSPI) has a return on equity (ROE) of -0.2%. Negative ROE indicates the company is unprofitable.

CSP Inc. (CSPI) generated $1.9M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.