Nortech Systems Incorporated (NSYS) 10-Year Financial Performance & Capital Metrics

NSYS • • Industrial / General

TechnologyTech Hardware & EquipmentElectronic Manufacturing Services (EMS)Specialized Manufacturing Services

AboutNortech Systems Incorporated provides design and manufacturing solutions for electromedical devices, electromechanical systems, assemblies, and components in the United States, Mexico, and China. It offers a range of technical and manufacturing, and support services, including project management, designing, testing, prototyping, manufacturing, supply chain management, and post-market services. The company also provides manufacturing and engineering services for medical devices, printed circuit board assemblies, wire and cable assemblies, and higher-level electromechanical assemblies. In addition, it offers engineering and repair services. The company serves original equipment manufacturers in the aerospace and defense, medical, and industrial markets through business development teams and independent manufacturers' representatives. Nortech Systems Incorporated was founded in 1990 and is headquartered in Maple Grove, Minnesota.Show more

Revenue $128M -8.0%
EBITDA $2M -80.7%
Net Income -$1M -118.8%
EPS (Diluted) -0.47 -119.7%
Gross Margin 13.05% -21.3%
EBITDA Margin 1.2% -79.0%
Operating Margin -0.15% -103.6%
Net Margin -1.01% -120.5%
ROE -3.73% -117.2%
ROIC -0.29% -103.0%
Debt/Equity 0.53 +32.2%
Interest Coverage -0.26 -102.1%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓High quality earnings: Operating CF exceeds net income
✓Share count reduced 4.4% through buybacks
✓Trading at only 0.7x book value
✓Efficient asset utilization: 1.8x turnover

✗Weaknesses

✗Weak Piotroski F-Score: 2/9
✗Negative free cash flow
✗Weak momentum: RS Rating 18 (bottom 18%)
✗Trading more than 30% below 52-week high

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y1.35%

5Y1.95%

3Y3.62%

TTM-13.94%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-157.93%

EPS CAGR

10Y-

5Y-

3Y-

TTM-161.4%

ROCE

10Y Avg2.27%

5Y Avg4.32%

3Y Avg7.15%

Latest-0.39%

Peer Comparison

Specialized Manufacturing Services

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
PENGPenguin Solutions, Inc.	1.05B	20.01	71.46	16.91%	1.85%	4.17%	9.52%	0.86
FNFabrinet	17.83B	497.58	54.26	18.6%	9.69%	16.89%	1.16%	0.00
DAIOData I/O Corporation	30.99M	3.30	-9.71	-22.43%	-16.16%	-22.91%		0.16
NSYSNortech Systems Incorporated	23.35M	8.38	-17.83	-8.04%	-2.25%	-7.88%		0.53

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	115.19M	116.62M	112.33M	113.37M	116.33M	104.11M	115.17M	134.12M	139.33M	128.13M
Revenue Growth %	0.03%	0.01%	-0.04%	0.01%	0.03%	-0.11%	0.11%	0.16%	0.04%	-0.08%
Cost of Goods Sold+	103.13M	102.78M	100.22M	100.06M	103.76M	95.65M	99.3M	113.64M	116.23M	111.41M
COGS % of Revenue	0.9%	0.88%	0.89%	0.88%	0.89%	0.92%	0.86%	0.85%	0.83%	0.87%
Gross Profit+	12.06M	13.84M	12.12M	13.31M	12.58M	8.46M	15.86M	20.48M	23.1M	16.72M
Gross Margin %	0.1%	0.12%	0.11%	0.12%	0.11%	0.08%	0.14%	0.15%	0.17%	0.13%
Gross Profit Growth %	-0.1%	0.15%	-0.12%	0.1%	-0.06%	-0.33%	0.88%	0.29%	0.13%	-0.28%
Operating Expenses+	12.48M	13.21M	12.83M	12.06M	12.35M	10.52M	13.59M	16.59M	17.15M	16.92M
OpEx % of Revenue	0.11%	0.11%	0.11%	0.11%	0.11%	0.1%	0.12%	0.12%	0.12%	0.13%
Selling, General & Admin	12.48M	13.21M	12.83M	12.06M	12.35M	10.52M	12.36M	15.14M	15.95M	15.15M
SG&A % of Revenue	0.11%	0.11%	0.11%	0.11%	0.11%	0.1%	0.11%	0.11%	0.11%	0.12%
Research & Development	0	0	0	0	0	0	483K	1.46M	1.2M	1.19M
R&D % of Revenue	-	-	-	-	-	-	0%	0.01%	0.01%	0.01%
Other Operating Expenses	0	0	0	0	0	0	746K	-15K	0	571K
Operating Income+	-422.05K	629.06K	-1.27M	1.25M	224K	-2.06M	2.27M	3.89M	5.95M	-195K
Operating Margin %	-0%	0.01%	-0.01%	0.01%	0%	-0.02%	0.02%	0.03%	0.04%	-0%
Operating Income Growth %	-1.32%	2.49%	-3.02%	1.98%	-0.82%	-10.21%	2.1%	0.71%	0.53%	-1.03%
EBITDA+	1.84M	2.92M	1.15M	3.44M	2.44M	131K	4.22M	5.81M	8M	1.54M
EBITDA Margin %	0.02%	0.03%	0.01%	0.03%	0.02%	0%	0.04%	0.04%	0.06%	0.01%
EBITDA Growth %	-0.45%	0.59%	-0.61%	1.98%	-0.29%	-0.95%	31.23%	0.38%	0.38%	-0.81%
D&A (Non-Cash Add-back)	2.26M	2.3M	2.42M	2.19M	2.22M	2.19M	1.95M	1.92M	2.05M	1.74M
EBIT	-422.05K	629.06K	-1.44M	1.25M	224K	-616K	8.44M	3.89M	5.95M	-195K
Net Interest Income+	-465.37K	-550.29K	-628K	-757K	-1.04M	-620K	-430K	-411K	-487K	-744K
Interest Income	0	0	0	0	0	0	0	0	0	0
Interest Expense	465.37K	550.29K	627.55K	757K	1.04M	620K	430K	411K	487K	744K
Other Income/Expense	-465.37K	-550.29K	-802.77K	-757K	-1.04M	826K	5.74M	-411K	-487K	-744K
Pretax Income+	-887.42K	78.77K	-2.07M	492K	-819K	-1.24M	8.01M	3.48M	5.47M	-939K
Pretax Margin %	-0.01%	0%	-0.02%	0%	-0.01%	-0.01%	0.07%	0.03%	0.04%	-0.01%
Income Tax+	-316K	35K	375K	326K	409K	310K	859K	1.47M	-1.41M	356K
Effective Tax Rate %	0.64%	0.56%	1.18%	0.34%	1.5%	1.25%	0.89%	0.58%	1.26%	1.38%
Net Income+	-571.42K	43.77K	-2.45M	166K	-1.23M	-1.55M	7.15M	2.01M	6.87M	-1.29M
Net Margin %	-0%	0%	-0.02%	0%	-0.01%	-0.01%	0.06%	0.01%	0.05%	-0.01%
Net Income Growth %	-1.65%	1.08%	-56.87%	1.07%	-8.4%	-0.26%	5.63%	-0.72%	2.42%	-1.19%
Net Income (Continuing)	-571.42K	43.77K	-2.45M	166K	-1.23M	-1.55M	7.15M	2.01M	6.87M	-1.29M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-0.21	0.02	-0.89	0.06	-0.46	-0.58	2.54	0.70	2.38	-0.47
EPS Growth %	-1.66%	1.1%	-45.5%	1.07%	-8.48%	-0.26%	5.38%	-0.72%	2.4%	-1.2%
EPS (Basic)	-0.21	0.02	-0.89	0.06	-0.46	-0.58	2.68	0.75	2.53	-0.47
Diluted Shares Outstanding	2.75M	2.75M	2.75M	2.7M	2.67M	2.66M	2.82M	2.89M	2.89M	2.76M
Basic Shares Outstanding	2.72M	2.75M	2.75M	2.69M	2.67M	2.66M	2.66M	2.69M	2.72M	2.76M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	40.37M	39.49M	37.77M	45.86M	43.28M	41.04M	51.77M	54.86M	58.79M	55.31M
Cash & Short-Term Investments	887	268.2K	472.89K	480K	351K	352K	643K	1.03M	960K	916K
Cash Only	887	268.2K	472.89K	480K	351K	352K	643K	1.03M	960K	916K
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	18.73M	17.52M	17.65M	26.52M	26.22M	21.52M	28.45M	28.61M	33.76M	28.67M
Days Sales Outstanding	59.36	54.83	57.34	85.4	82.26	75.46	90.18	77.85	88.44	81.66
Inventory	20.19M	20.65M	18.53M	17M	14.28M	13.92M	19.43M	22.44M	21.66M	21.64M
Days Inventory Outstanding	71.44	73.35	67.48	62.03	50.23	53.11	71.43	72.07	68.02	70.89
Other Current Assets	0	0	0	467K	309K	3.21M	1.58M	1.45M	715K	4.09M
Total Non-Current Assets+	16.19M	16.03M	14.32M	14.1M	18.13M	16.6M	15.32M	14.68M	16.33M	17.12M
Property, Plant & Equipment	16.19M	10.33M	10.2M	10.21M	14.41M	15.42M	14.82M	14.26M	13.43M	14.37M
Fixed Asset Turnover	7.11x	11.29x	11.01x	11.11x	8.07x	6.75x	7.77x	9.41x	10.37x	8.92x
Goodwill	3.28M	3.28M	2.38M	2.38M	2.38M	0	0	0	0	0
Intangible Assets	2.05M	1.86M	1.74M	1.52M	1.34M	1.17M	501K	422K	263K	174K
Long-Term Investments	-5.68M	0	-28.45K	0	0	0	0	0	0	0
Other Non-Current Assets	7.73K	7.73K	7.73K	0	0	0	0	0	0	0
Total Assets+	56.57M	55.52M	52.09M	59.96M	61.41M	57.63M	67.09M	69.54M	75.13M	72.44M
Asset Turnover	2.04x	2.10x	2.16x	1.89x	1.89x	1.81x	1.72x	1.93x	1.85x	1.77x
Asset Growth %	0.16%	-0.02%	-0.06%	0.15%	0.02%	-0.06%	0.16%	0.04%	0.08%	-0.04%
Total Current Liabilities+	19.67M	20.31M	18.04M	24.89M	22.23M	19.54M	22.31M	26.4M	26.58M	21.43M
Accounts Payable	13.04M	13.83M	11.7M	18.14M	14.01M	11.24M	12.71M	14.79M	15.92M	11.58M
Days Payables Outstanding	46.16	49.1	42.61	66.18	49.3	42.89	46.72	47.51	50.01	37.94
Short-Term Debt	1.5M	1.57M	1M	780K	444K	1.2M	0	0	0	0
Deferred Revenue (Current)	-1000K	0	-1000K	-1000K	0	0	0	1000K	0	1000K
Other Current Liabilities	0	0	-33	0	0	0	0	0	4.07M	0
Current Ratio	2.05x	1.94x	2.09x	1.84x	1.95x	2.10x	2.32x	2.08x	2.21x	2.58x
Quick Ratio	1.03x	0.93x	1.07x	1.16x	1.30x	1.39x	1.45x	1.23x	1.40x	1.57x
Cash Conversion Cycle	84.64	79.08	82.21	81.24	83.19	85.68	114.9	102.41	106.45	114.61
Total Non-Current Liabilities+	14.62M	12.9M	14.21M	13.98M	19.2M	19.38M	18.67M	15.06M	13.2M	17M
Long-Term Debt	13.65M	12.21M	12.86M	12.89M	13.27M	9.19M	8.96M	6.85M	5.82M	8.63M
Capital Lease Obligations	0	0	1.22M	951K	5.82M	10.04M	9.61M	8.11M	6.97M	8.08M
Deferred Tax Liabilities	1.14M	892K	484K	0	0	0	0	0	0	0
Other Non-Current Liabilities	975.62K	689.2K	137.55K	139K	118K	146K	104K	95K	414K	284K
Total Liabilities	34.29M	33.2M	32.26M	38.87M	41.43M	38.92M	40.98M	41.46M	39.78M	38.43M
Total Debt+	14.62M	13.77M	14.21M	13.98M	20.94M	21.79M	20.21M	16.51M	14.18M	18.04M
Net Debt	14.62M	13.5M	13.74M	13.5M	20.59M	21.43M	19.57M	15.48M	13.22M	17.12M
Debt / Equity	0.66x	0.62x	0.72x	0.66x	1.05x	1.16x	0.77x	0.59x	0.40x	0.53x
Debt / EBITDA	7.96x	4.71x	12.32x	4.07x	8.57x	166.31x	4.79x	2.84x	1.77x	11.69x
Net Debt / EBITDA	7.96x	4.62x	11.91x	3.93x	8.42x	163.62x	4.64x	2.67x	1.65x	11.10x
Interest Coverage	-0.91x	1.14x	-2.02x	1.65x	0.21x	-3.33x	5.28x	9.46x	12.22x	-0.26x
Total Equity+	22.27M	22.31M	19.83M	21.09M	19.98M	18.72M	26.11M	28.08M	35.34M	34.01M
Equity Growth %	-0.02%	0%	-0.11%	0.06%	-0.05%	-0.06%	0.39%	0.08%	0.26%	-0.04%
Book Value per Share	8.11	8.12	7.22	7.81	7.50	7.04	9.25	9.71	12.25	12.33
Total Shareholders' Equity	22.27M	22.31M	19.83M	21.09M	19.98M	18.72M	26.11M	28.08M	35.34M	34.01M
Common Stock	27.46K	27.48K	27.39K	27K	27K	27K	27K	27K	27K	28K
Retained Earnings	6.29M	6.34M	3.89M	5.44M	4.21M	2.66M	9.82M	11.83M	18.67M	17.38M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-62.94K	-44.45K	-100.78K	-233K	-257K	-37K	56K	-370K	-532K	-977K
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	3.4M	3.53M	806.25K	2.44M	997K	1.36M	-4.54M	5.4M	1.77M	-2.25M
Operating CF Margin %	0.03%	0.03%	0.01%	0.02%	0.01%	0.01%	-0.04%	0.04%	0.01%	-0.02%
Operating CF Growth %	1.15%	0.04%	-0.77%	2.03%	-0.59%	0.37%	-4.33%	2.19%	-0.67%	-2.27%
Net Income	-571.42K	43.77K	-2.45M	166K	-1.23M	-1.55M	7.15M	2.01M	6.87M	-1.29M
Depreciation & Amortization	2.26M	2.3M	2.5M	2.19M	2.22M	2.19M	1.95M	1.92M	2.05M	1.74M
Stock-Based Compensation	3.31K	994	43.2K	126K	261K	68K	259K	334K	423K	461K
Deferred Taxes	-54.5K	-202K	439.58K	1K	20K	0	0	0	-2.36M	-12K
Other Non-Cash Items	-68.21K	-328.64K	-442.4K	281K	519K	-658K	-4.53M	-230K	50K	95K
Working Capital Changes	1.83M	1.72M	711.24K	-319K	-796K	1.31M	-9.38M	1.37M	-5.27M	-3.24M
Change in Receivables	-864.08K	1.07M	577.66K	-2.75M	586K	4.1M	-1.67M	188K	-6.13M	4.76M
Change in Inventory	-1.66M	-489.08K	1.96M	-3.88M	2.34M	-216K	-4.61M	-2.98M	716K	280K
Change in Payables	3.94M	817.23K	-2.11M	6.03M	-3.68M	-2.95M	0	2.22M	483K	-3.96M
Cash from Investing+	-3.67M	-1.95M	-258.35K	-1.39M	-758K	5.5M	-730K	-2.43M	-1.28M	-1.26M
Capital Expenditures	-1.68M	-1.96M	-927.14K	-1.4M	-719K	-485K	-1.29M	-2.37M	-1.28M	-1.27M
CapEx % of Revenue	0.01%	0.02%	0.01%	0.01%	0.01%	0%	0.01%	0.02%	0.01%	0.01%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	0	3K	668.79K	14K	-39K	5.99M	562K	-56K	0	7K
Cash from Financing+	208.06K	-1.39M	-38.59K	-889K	-525K	-3.96M	3.93M	-2.67M	-1.28M	2.77M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-43.26K	-25.15K	-267K	0	7K	0	35K	51K	159K	38K
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	1.72M	1.58M	-120.89K	1.04M	239K	844K	-5.83M	2.96M	485K	-3.52M
FCF Margin %	0.01%	0.01%	-0%	0.01%	0%	0.01%	-0.05%	0.02%	0%	-0.03%
FCF Growth %	3.83%	-0.08%	-1.08%	9.6%	-0.77%	2.53%	-7.91%	1.51%	-0.84%	-8.26%
FCF per Share	0.63	0.57	-0.04	0.39	0.09	0.32	-2.07	1.02	0.17	-1.28
FCF Conversion (FCF/Net Income)	-5.94x	80.74x	-0.33x	14.72x	-0.81x	-0.88x	-0.63x	2.69x	0.26x	1.74x
Interest Paid	0	499.11K	538K	719K	980K	577K	316K	476K	503K	764K
Taxes Paid	0	110.59K	20K	335K	194K	855K	0	237K	1.75M	473K

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-2.53%	0.2%	-11.61%	0.81%	-5.98%	-7.99%	31.92%	7.42%	21.68%	-3.73%
Return on Invested Capital (ROIC)	-0.87%	1.3%	-2.74%	2.75%	0.45%	-3.83%	3.97%	6.53%	9.69%	-0.29%
Gross Margin	10.47%	11.87%	10.79%	11.74%	10.81%	8.12%	13.77%	15.27%	16.58%	13.05%
Net Margin	-0.5%	0.04%	-2.18%	0.15%	-1.06%	-1.49%	6.21%	1.5%	4.93%	-1.01%
Debt / Equity	0.66x	0.62x	0.72x	0.66x	1.05x	1.16x	0.77x	0.59x	0.40x	0.53x
Interest Coverage	-0.91x	1.14x	-2.02x	1.65x	0.21x	-3.33x	5.28x	9.46x	12.22x	-0.26x
FCF Conversion	-5.94x	80.74x	-0.33x	14.72x	-0.81x	-0.88x	-0.63x	2.69x	0.26x	1.74x
Revenue Growth	2.81%	1.24%	-3.68%	0.92%	2.61%	-10.51%	10.63%	16.46%	3.88%	-8.04%

Revenue by Segment

	2012	2013
Industrial	58.71K	55.75M
Industrial Growth	-	94863.12%
Medical	32.53K	35.43M
Medical Growth	-	108805.08%
Aerospace and Defense	15.7K	19.88M
Aerospace and Defense Growth	-	126533.97%

Frequently Asked Questions

Growth & Financials

Nortech Systems Incorporated (NSYS) reported $116.7M in revenue for fiscal year 2024. This represents a 2% increase from $114.2M in 2011.

Nortech Systems Incorporated (NSYS) saw revenue decline by 8.0% over the past year.

Nortech Systems Incorporated (NSYS) reported a net loss of $2.6M for fiscal year 2024.

Dividend & Returns

Nortech Systems Incorporated (NSYS) has a return on equity (ROE) of -3.7%. Negative ROE indicates the company is unprofitable.

Nortech Systems Incorporated (NSYS) had negative free cash flow of $2.9M in fiscal year 2024, likely due to heavy capital investments.

US Stock Screener

...

Nortech Systems Incorporated (NSYS) 10-Year Financial Performance & Capital Metrics

NSYS • • Industrial / General

TechnologyTech Hardware & EquipmentElectronic Manufacturing Services (EMS)Specialized Manufacturing Services

Revenue $128M -8.0%
EBITDA $2M -80.7%
Net Income -$1M -118.8%
EPS (Diluted) -0.47 -119.7%
Gross Margin 13.05% -21.3%
EBITDA Margin 1.2% -79.0%
Operating Margin -0.15% -103.6%
Net Margin -1.01% -120.5%
ROE -3.73% -117.2%
ROIC -0.29% -103.0%
Debt/Equity 0.53 +32.2%
Interest Coverage -0.26 -102.1%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓High quality earnings: Operating CF exceeds net income
✓Share count reduced 4.4% through buybacks
✓Trading at only 0.7x book value
✓Efficient asset utilization: 1.8x turnover

✗Weaknesses

✗Weak Piotroski F-Score: 2/9
✗Negative free cash flow
✗Weak momentum: RS Rating 18 (bottom 18%)
✗Trading more than 30% below 52-week high

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y1.35%

5Y1.95%

3Y3.62%

TTM-13.94%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-157.93%

EPS CAGR

10Y-

5Y-

3Y-

TTM-161.4%

ROCE

10Y Avg2.27%

5Y Avg4.32%

3Y Avg7.15%

Latest-0.39%

Peer Comparison

Specialized Manufacturing Services

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
PENGPenguin Solutions, Inc.	1.05B	20.01	71.46	16.91%	1.85%	4.17%	9.52%	0.86
FNFabrinet	17.83B	497.58	54.26	18.6%	9.69%	16.89%	1.16%	0.00
DAIOData I/O Corporation	30.99M	3.30	-9.71	-22.43%	-16.16%	-22.91%		0.16
NSYSNortech Systems Incorporated	23.35M	8.38	-17.83	-8.04%	-2.25%	-7.88%		0.53

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	115.19M	116.62M	112.33M	113.37M	116.33M	104.11M	115.17M	134.12M	139.33M	128.13M
Revenue Growth %	0.03%	0.01%	-0.04%	0.01%	0.03%	-0.11%	0.11%	0.16%	0.04%	-0.08%
Cost of Goods Sold+	103.13M	102.78M	100.22M	100.06M	103.76M	95.65M	99.3M	113.64M	116.23M	111.41M
COGS % of Revenue	0.9%	0.88%	0.89%	0.88%	0.89%	0.92%	0.86%	0.85%	0.83%	0.87%
Gross Profit+	12.06M	13.84M	12.12M	13.31M	12.58M	8.46M	15.86M	20.48M	23.1M	16.72M
Gross Margin %	0.1%	0.12%	0.11%	0.12%	0.11%	0.08%	0.14%	0.15%	0.17%	0.13%
Gross Profit Growth %	-0.1%	0.15%	-0.12%	0.1%	-0.06%	-0.33%	0.88%	0.29%	0.13%	-0.28%
Operating Expenses+	12.48M	13.21M	12.83M	12.06M	12.35M	10.52M	13.59M	16.59M	17.15M	16.92M
OpEx % of Revenue	0.11%	0.11%	0.11%	0.11%	0.11%	0.1%	0.12%	0.12%	0.12%	0.13%
Selling, General & Admin	12.48M	13.21M	12.83M	12.06M	12.35M	10.52M	12.36M	15.14M	15.95M	15.15M
SG&A % of Revenue	0.11%	0.11%	0.11%	0.11%	0.11%	0.1%	0.11%	0.11%	0.11%	0.12%
Research & Development	0	0	0	0	0	0	483K	1.46M	1.2M	1.19M
R&D % of Revenue	-	-	-	-	-	-	0%	0.01%	0.01%	0.01%
Other Operating Expenses	0	0	0	0	0	0	746K	-15K	0	571K
Operating Income+	-422.05K	629.06K	-1.27M	1.25M	224K	-2.06M	2.27M	3.89M	5.95M	-195K
Operating Margin %	-0%	0.01%	-0.01%	0.01%	0%	-0.02%	0.02%	0.03%	0.04%	-0%
Operating Income Growth %	-1.32%	2.49%	-3.02%	1.98%	-0.82%	-10.21%	2.1%	0.71%	0.53%	-1.03%
EBITDA+	1.84M	2.92M	1.15M	3.44M	2.44M	131K	4.22M	5.81M	8M	1.54M
EBITDA Margin %	0.02%	0.03%	0.01%	0.03%	0.02%	0%	0.04%	0.04%	0.06%	0.01%
EBITDA Growth %	-0.45%	0.59%	-0.61%	1.98%	-0.29%	-0.95%	31.23%	0.38%	0.38%	-0.81%
D&A (Non-Cash Add-back)	2.26M	2.3M	2.42M	2.19M	2.22M	2.19M	1.95M	1.92M	2.05M	1.74M
EBIT	-422.05K	629.06K	-1.44M	1.25M	224K	-616K	8.44M	3.89M	5.95M	-195K
Net Interest Income+	-465.37K	-550.29K	-628K	-757K	-1.04M	-620K	-430K	-411K	-487K	-744K
Interest Income	0	0	0	0	0	0	0	0	0	0
Interest Expense	465.37K	550.29K	627.55K	757K	1.04M	620K	430K	411K	487K	744K
Other Income/Expense	-465.37K	-550.29K	-802.77K	-757K	-1.04M	826K	5.74M	-411K	-487K	-744K
Pretax Income+	-887.42K	78.77K	-2.07M	492K	-819K	-1.24M	8.01M	3.48M	5.47M	-939K
Pretax Margin %	-0.01%	0%	-0.02%	0%	-0.01%	-0.01%	0.07%	0.03%	0.04%	-0.01%
Income Tax+	-316K	35K	375K	326K	409K	310K	859K	1.47M	-1.41M	356K
Effective Tax Rate %	0.64%	0.56%	1.18%	0.34%	1.5%	1.25%	0.89%	0.58%	1.26%	1.38%
Net Income+	-571.42K	43.77K	-2.45M	166K	-1.23M	-1.55M	7.15M	2.01M	6.87M	-1.29M
Net Margin %	-0%	0%	-0.02%	0%	-0.01%	-0.01%	0.06%	0.01%	0.05%	-0.01%
Net Income Growth %	-1.65%	1.08%	-56.87%	1.07%	-8.4%	-0.26%	5.63%	-0.72%	2.42%	-1.19%
Net Income (Continuing)	-571.42K	43.77K	-2.45M	166K	-1.23M	-1.55M	7.15M	2.01M	6.87M	-1.29M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-0.21	0.02	-0.89	0.06	-0.46	-0.58	2.54	0.70	2.38	-0.47
EPS Growth %	-1.66%	1.1%	-45.5%	1.07%	-8.48%	-0.26%	5.38%	-0.72%	2.4%	-1.2%
EPS (Basic)	-0.21	0.02	-0.89	0.06	-0.46	-0.58	2.68	0.75	2.53	-0.47
Diluted Shares Outstanding	2.75M	2.75M	2.75M	2.7M	2.67M	2.66M	2.82M	2.89M	2.89M	2.76M
Basic Shares Outstanding	2.72M	2.75M	2.75M	2.69M	2.67M	2.66M	2.66M	2.69M	2.72M	2.76M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	40.37M	39.49M	37.77M	45.86M	43.28M	41.04M	51.77M	54.86M	58.79M	55.31M
Cash & Short-Term Investments	887	268.2K	472.89K	480K	351K	352K	643K	1.03M	960K	916K
Cash Only	887	268.2K	472.89K	480K	351K	352K	643K	1.03M	960K	916K
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	18.73M	17.52M	17.65M	26.52M	26.22M	21.52M	28.45M	28.61M	33.76M	28.67M
Days Sales Outstanding	59.36	54.83	57.34	85.4	82.26	75.46	90.18	77.85	88.44	81.66
Inventory	20.19M	20.65M	18.53M	17M	14.28M	13.92M	19.43M	22.44M	21.66M	21.64M
Days Inventory Outstanding	71.44	73.35	67.48	62.03	50.23	53.11	71.43	72.07	68.02	70.89
Other Current Assets	0	0	0	467K	309K	3.21M	1.58M	1.45M	715K	4.09M
Total Non-Current Assets+	16.19M	16.03M	14.32M	14.1M	18.13M	16.6M	15.32M	14.68M	16.33M	17.12M
Property, Plant & Equipment	16.19M	10.33M	10.2M	10.21M	14.41M	15.42M	14.82M	14.26M	13.43M	14.37M
Fixed Asset Turnover	7.11x	11.29x	11.01x	11.11x	8.07x	6.75x	7.77x	9.41x	10.37x	8.92x
Goodwill	3.28M	3.28M	2.38M	2.38M	2.38M	0	0	0	0	0
Intangible Assets	2.05M	1.86M	1.74M	1.52M	1.34M	1.17M	501K	422K	263K	174K
Long-Term Investments	-5.68M	0	-28.45K	0	0	0	0	0	0	0
Other Non-Current Assets	7.73K	7.73K	7.73K	0	0	0	0	0	0	0
Total Assets+	56.57M	55.52M	52.09M	59.96M	61.41M	57.63M	67.09M	69.54M	75.13M	72.44M
Asset Turnover	2.04x	2.10x	2.16x	1.89x	1.89x	1.81x	1.72x	1.93x	1.85x	1.77x
Asset Growth %	0.16%	-0.02%	-0.06%	0.15%	0.02%	-0.06%	0.16%	0.04%	0.08%	-0.04%
Total Current Liabilities+	19.67M	20.31M	18.04M	24.89M	22.23M	19.54M	22.31M	26.4M	26.58M	21.43M
Accounts Payable	13.04M	13.83M	11.7M	18.14M	14.01M	11.24M	12.71M	14.79M	15.92M	11.58M
Days Payables Outstanding	46.16	49.1	42.61	66.18	49.3	42.89	46.72	47.51	50.01	37.94
Short-Term Debt	1.5M	1.57M	1M	780K	444K	1.2M	0	0	0	0
Deferred Revenue (Current)	-1000K	0	-1000K	-1000K	0	0	0	1000K	0	1000K
Other Current Liabilities	0	0	-33	0	0	0	0	0	4.07M	0
Current Ratio	2.05x	1.94x	2.09x	1.84x	1.95x	2.10x	2.32x	2.08x	2.21x	2.58x
Quick Ratio	1.03x	0.93x	1.07x	1.16x	1.30x	1.39x	1.45x	1.23x	1.40x	1.57x
Cash Conversion Cycle	84.64	79.08	82.21	81.24	83.19	85.68	114.9	102.41	106.45	114.61
Total Non-Current Liabilities+	14.62M	12.9M	14.21M	13.98M	19.2M	19.38M	18.67M	15.06M	13.2M	17M
Long-Term Debt	13.65M	12.21M	12.86M	12.89M	13.27M	9.19M	8.96M	6.85M	5.82M	8.63M
Capital Lease Obligations	0	0	1.22M	951K	5.82M	10.04M	9.61M	8.11M	6.97M	8.08M
Deferred Tax Liabilities	1.14M	892K	484K	0	0	0	0	0	0	0
Other Non-Current Liabilities	975.62K	689.2K	137.55K	139K	118K	146K	104K	95K	414K	284K
Total Liabilities	34.29M	33.2M	32.26M	38.87M	41.43M	38.92M	40.98M	41.46M	39.78M	38.43M
Total Debt+	14.62M	13.77M	14.21M	13.98M	20.94M	21.79M	20.21M	16.51M	14.18M	18.04M
Net Debt	14.62M	13.5M	13.74M	13.5M	20.59M	21.43M	19.57M	15.48M	13.22M	17.12M
Debt / Equity	0.66x	0.62x	0.72x	0.66x	1.05x	1.16x	0.77x	0.59x	0.40x	0.53x
Debt / EBITDA	7.96x	4.71x	12.32x	4.07x	8.57x	166.31x	4.79x	2.84x	1.77x	11.69x
Net Debt / EBITDA	7.96x	4.62x	11.91x	3.93x	8.42x	163.62x	4.64x	2.67x	1.65x	11.10x
Interest Coverage	-0.91x	1.14x	-2.02x	1.65x	0.21x	-3.33x	5.28x	9.46x	12.22x	-0.26x
Total Equity+	22.27M	22.31M	19.83M	21.09M	19.98M	18.72M	26.11M	28.08M	35.34M	34.01M
Equity Growth %	-0.02%	0%	-0.11%	0.06%	-0.05%	-0.06%	0.39%	0.08%	0.26%	-0.04%
Book Value per Share	8.11	8.12	7.22	7.81	7.50	7.04	9.25	9.71	12.25	12.33
Total Shareholders' Equity	22.27M	22.31M	19.83M	21.09M	19.98M	18.72M	26.11M	28.08M	35.34M	34.01M
Common Stock	27.46K	27.48K	27.39K	27K	27K	27K	27K	27K	27K	28K
Retained Earnings	6.29M	6.34M	3.89M	5.44M	4.21M	2.66M	9.82M	11.83M	18.67M	17.38M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-62.94K	-44.45K	-100.78K	-233K	-257K	-37K	56K	-370K	-532K	-977K
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	3.4M	3.53M	806.25K	2.44M	997K	1.36M	-4.54M	5.4M	1.77M	-2.25M
Operating CF Margin %	0.03%	0.03%	0.01%	0.02%	0.01%	0.01%	-0.04%	0.04%	0.01%	-0.02%
Operating CF Growth %	1.15%	0.04%	-0.77%	2.03%	-0.59%	0.37%	-4.33%	2.19%	-0.67%	-2.27%
Net Income	-571.42K	43.77K	-2.45M	166K	-1.23M	-1.55M	7.15M	2.01M	6.87M	-1.29M
Depreciation & Amortization	2.26M	2.3M	2.5M	2.19M	2.22M	2.19M	1.95M	1.92M	2.05M	1.74M
Stock-Based Compensation	3.31K	994	43.2K	126K	261K	68K	259K	334K	423K	461K
Deferred Taxes	-54.5K	-202K	439.58K	1K	20K	0	0	0	-2.36M	-12K
Other Non-Cash Items	-68.21K	-328.64K	-442.4K	281K	519K	-658K	-4.53M	-230K	50K	95K
Working Capital Changes	1.83M	1.72M	711.24K	-319K	-796K	1.31M	-9.38M	1.37M	-5.27M	-3.24M
Change in Receivables	-864.08K	1.07M	577.66K	-2.75M	586K	4.1M	-1.67M	188K	-6.13M	4.76M
Change in Inventory	-1.66M	-489.08K	1.96M	-3.88M	2.34M	-216K	-4.61M	-2.98M	716K	280K
Change in Payables	3.94M	817.23K	-2.11M	6.03M	-3.68M	-2.95M	0	2.22M	483K	-3.96M
Cash from Investing+	-3.67M	-1.95M	-258.35K	-1.39M	-758K	5.5M	-730K	-2.43M	-1.28M	-1.26M
Capital Expenditures	-1.68M	-1.96M	-927.14K	-1.4M	-719K	-485K	-1.29M	-2.37M	-1.28M	-1.27M
CapEx % of Revenue	0.01%	0.02%	0.01%	0.01%	0.01%	0%	0.01%	0.02%	0.01%	0.01%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	0	3K	668.79K	14K	-39K	5.99M	562K	-56K	0	7K
Cash from Financing+	208.06K	-1.39M	-38.59K	-889K	-525K	-3.96M	3.93M	-2.67M	-1.28M	2.77M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-43.26K	-25.15K	-267K	0	7K	0	35K	51K	159K	38K
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	1.72M	1.58M	-120.89K	1.04M	239K	844K	-5.83M	2.96M	485K	-3.52M
FCF Margin %	0.01%	0.01%	-0%	0.01%	0%	0.01%	-0.05%	0.02%	0%	-0.03%
FCF Growth %	3.83%	-0.08%	-1.08%	9.6%	-0.77%	2.53%	-7.91%	1.51%	-0.84%	-8.26%
FCF per Share	0.63	0.57	-0.04	0.39	0.09	0.32	-2.07	1.02	0.17	-1.28
FCF Conversion (FCF/Net Income)	-5.94x	80.74x	-0.33x	14.72x	-0.81x	-0.88x	-0.63x	2.69x	0.26x	1.74x
Interest Paid	0	499.11K	538K	719K	980K	577K	316K	476K	503K	764K
Taxes Paid	0	110.59K	20K	335K	194K	855K	0	237K	1.75M	473K

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-2.53%	0.2%	-11.61%	0.81%	-5.98%	-7.99%	31.92%	7.42%	21.68%	-3.73%
Return on Invested Capital (ROIC)	-0.87%	1.3%	-2.74%	2.75%	0.45%	-3.83%	3.97%	6.53%	9.69%	-0.29%
Gross Margin	10.47%	11.87%	10.79%	11.74%	10.81%	8.12%	13.77%	15.27%	16.58%	13.05%
Net Margin	-0.5%	0.04%	-2.18%	0.15%	-1.06%	-1.49%	6.21%	1.5%	4.93%	-1.01%
Debt / Equity	0.66x	0.62x	0.72x	0.66x	1.05x	1.16x	0.77x	0.59x	0.40x	0.53x
Interest Coverage	-0.91x	1.14x	-2.02x	1.65x	0.21x	-3.33x	5.28x	9.46x	12.22x	-0.26x
FCF Conversion	-5.94x	80.74x	-0.33x	14.72x	-0.81x	-0.88x	-0.63x	2.69x	0.26x	1.74x
Revenue Growth	2.81%	1.24%	-3.68%	0.92%	2.61%	-10.51%	10.63%	16.46%	3.88%	-8.04%

Revenue by Segment

	2012	2013
Industrial	58.71K	55.75M
Industrial Growth	-	94863.12%
Medical	32.53K	35.43M
Medical Growth	-	108805.08%
Aerospace and Defense	15.7K	19.88M
Aerospace and Defense Growth	-	126533.97%

Frequently Asked Questions

Growth & Financials

Nortech Systems Incorporated (NSYS) reported $116.7M in revenue for fiscal year 2024. This represents a 2% increase from $114.2M in 2011.

Nortech Systems Incorporated (NSYS) saw revenue decline by 8.0% over the past year.

Nortech Systems Incorporated (NSYS) reported a net loss of $2.6M for fiscal year 2024.

Dividend & Returns

Nortech Systems Incorporated (NSYS) has a return on equity (ROE) of -3.7%. Negative ROE indicates the company is unprofitable.

Nortech Systems Incorporated (NSYS) had negative free cash flow of $2.9M in fiscal year 2024, likely due to heavy capital investments.