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CMTLComtech Telecommunications Corp.
$2.07$62M
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HomeStocksCMTLBalance Sheet

Comtech Telecommunications Corp. (CMTL) Balance Sheet

30Y historyFree accessUpdated daily

The company's financial position is increasingly strained, evidenced by a debt-to-equity ratio that has climbed to 0.96 in 2026Q3 from 0.35 in 2024Q3.

CMTL Balance Sheet

Income StatementBalance SheetCash FlowRatios
AnnualQuarterly
MetricTTMJul'25Jul'24Jul'23Jul'22Jul'21Jul'20Jul'19Jul'18Jul'17Jul'16Jul'15Jul'14Jul'13Jul'12Jul'11Jul'10Jul'09Jul'08Jul'07Jul'06Jul'05Jul'04Jul'03Jul'02Jul'01Jul'00Jul'99Jul'98Jul'97Jul'96
Total Current Assets236.71M270.19M336.55M305.49M263.33M287.5M277.1M280.31M279.79M241.04M303.64M300.76M290.84M489.65M516.88M723.07M840.82M689.05M581.99M494.59M398.45M329.08M258.42M121.09M80.84M104.1M94.34M20.7M15.1M13.7M12.3M
Cash & Short-Term Investments32.83M40.02M32.43M18.96M21.65M30.86M47.88M45.58M43.48M41.84M66.81M150.95M154.5M356.64M367.89M558.8M607.59M485.45M410.07M342.9M251.59M214.41M163.29M48.62M15.51M36.2M31.22M5.9M2.7M1.3M1.8M
Cash Only32.83M40.02M32.43M18.96M21.65M30.86M47.88M45.58M43.48M41.84M66.81M150.95M154.5M356.64M367.89M558.8M607.59M485.45M410.07M342.9M251.59M214.41M163.29M48.62M15.51M36.2M12.59M5.9M2.7M1.3M1.8M
Short-Term Investments0000000000000000000000000018.63M0000
Accounts Receivable127.8M144.84M195.59M163.16M123.71M158.11M126.82M145.03M147.44M124.96M150.97M69.25M54.89M49.91M56.24M70.8M135.84M79.48M70.04M73.58M70.05M56.05M43M26.7M27.43M27.37M33.24M5.2M5.9M5.6M3.5M
Days Sales Outstanding108.65105.83132.11108.2892.8699.2175.0678.894.3282.87134.0782.2657.7156.9748.2942.263.7149.4748.0960.2665.366.4570.2655.9983.973.5182.6150.0871.5482.7561.12
Inventory61.83T68.95M93.14M105.84M96.32M80.36M82.3M74.84M75.08M60.6M71.35M62.07M61.33M65.48M72.36M74.66M73.56M95.6M85.97M61.99M61.04M45.1M39.76M34.05M34M36.73M26.17M7.9M6.1M6.6M6.5M
Days Inventory Outstanding17.68M67.7288.71105.69114.7479.7677.0564.3779.0566.59108.62134.53114.38133.55109.3473.3952.9101105.7689.6495.9591.19106.81108.71157.51153.53216.98115.8110.77145.12173.18
Other Current Assets-90.33T16.38M15.39M17.52M000000011.08M10.18M10.18M12.18M11.53M14.95M15.13M10.03M9.38M8.59M9.13M10.55M9.99M2.49M2.63M3.71M1.7M400K200K500K
Total Non-Current Assets456.77M470.65M575.88M690.75M710.97M705.62M652.55M607.4M565.36M591.02M617.56M173.12M183.01M192.16M202.9M214.44M225.74M249.62M71.13M61.75M56.82M53.32M47.97M43.16M45.75M42.89M31.69M9.1M4.6M4.3M4.3M
Property, Plant & Equipment75.72T74.22M78.92M97.44M100.13M79.77M57.07M28.03M28.99M32.85M38.67M15.37M18.54M20.33M22.83M26.64M33.73M38.49M34.27M29.28M24.73M18.68M14.65M12.33M11.89M11.78M10.74M4.3M4.3M3.9M4M
Fixed Asset Turnover0.00x6.73x6.85x5.64x4.86x7.29x10.81x23.97x19.68x16.76x10.63x19.99x18.73x15.73x18.62x22.99x23.07x15.24x15.51x15.22x15.83x16.48x15.25x14.12x10.04x11.54x6.19x8.81x7.00x6.33x5.23x
Goodwill204.63T204.63M284.18M347.69M347.69M347.7M330.52M310.49M290.63M290.63M287.62M137.35M137.35M137.35M137.35M137.35M137.35M149.25M24.36M24.39M22.24M0000000000
Intangible Assets158.42T173.1M194.83M225.91M247.3M268.7M258.02M261.89M240.8M261.87M284.69M20.01M26.22M32.51M38.83M45.47M48.09M55.27M7.5M5.72M6.86M31.37M29.43M29.08M30.63M27.82M17.67M1.6M000
Long-Term Investments0000000000000000000000000000000
Other Non-Current Assets-438.77T18.7M17.96M19.71M15.84M9.45M6.94M6.99M4.95M5.67M6.58M388K898K1.97M3.44M4.98M6.57M6.61M4.99M2.37M2.99M3.27M3.89M390K661K569K3.28M3.2M300K400K300K
Total Assets693.48M740.84M912.43M996.24M974.3M993.11M929.65M887.71M845.16M832.06M921.2M473.88M473.85M681.82M719.78M937.51M1.07B938.67M653.12M556.34M455.27M382.4M306.39M164.25M126.59M146.99M126.03M29.8M19.7M18M16.6M
Asset Turnover0.63x0.67x0.59x0.55x0.50x0.59x0.66x0.76x0.68x0.66x0.45x0.65x0.73x0.47x0.59x0.65x0.73x0.62x0.81x0.80x0.86x0.81x0.73x1.06x0.94x0.92x0.53x1.27x1.53x1.37x1.26x
Asset Growth %-42.59%-18.81%-8.41%2.25%-1.89%6.83%4.72%5.04%1.57%-9.68%94.4%0.01%-30.5%-5.27%-23.22%-12.1%13.62%43.72%17.4%22.2%19.05%24.81%86.54%29.75%-13.88%16.63%322.92%51.27%9.44%8.43%-1.19%
Total Current Liabilities147.2M158.25M183.55M211.97M193.46M203.56M159.71M145.35M165.32M144.21M184.15M64.34M66.19M269.09M82.66M96.06M154.22M92.53M97.54M97.51M89.46M74.39M57.21M46.29M29.26M37.01M29.07M10.5M6.2M5.8M4.5M
Accounts Payable22.23M25.96M42.48M64.24M44.59M36.19M23.42M24.33M43.93M29.4M33.46M15.71M18.9M18.39M20.97M23.5M77.84M19.23M31.42M26.14M28.34M23.58M9.57M11.53M9.53M11.01M11.26M3.8M2.6M2.9M2M
Days Payables Outstanding28.0825.540.4664.1553.1235.9221.9320.9346.2532.3150.9434.0535.2537.5131.6823.155.9720.3238.6637.844.5447.6725.736.844.1546.0493.3655.747.2163.7753.28
Short-Term Debt4.05M4.05M4.05M4.38M000017.21M15.49M11.07M00200M000000154K235K234K899K1.06M7M2.71M600K800K600K600K
Deferred Revenue (Current)180.04M62.55M65.83M66.35M64.6M66.13M40.25M38.68M34.45M25.77M29.66M14.32M12.61M14.75M14.52M11.01M12.78M0009.9M8.21M13.72M11.16M4.34M2.07M00000
Other Current Liabilities114.44M13.63M7.31M12.32M13.44M15.47M19.62M16.36M8.51M10.72M12.87M5.21M5.56M6.08M10.82M0019.57M16.45M24.04M15.26M7.87M13.18M9.44M2.47M3.31M15.11M6.1M2.8M2.3M1.9M
Current Ratio1.61x1.71x1.83x1.44x1.36x1.41x1.73x1.93x1.69x1.67x1.65x4.67x4.39x1.82x6.25x7.53x5.45x7.45x5.97x5.07x4.45x4.42x4.52x2.62x2.76x2.81x3.24x1.97x2.44x2.36x2.73x
Quick Ratio-420014.15x1.27x1.33x0.94x0.86x1.02x1.22x1.41x1.24x1.25x1.26x3.71x3.47x1.58x5.38x6.75x4.98x6.41x5.09x4.44x3.77x3.82x3.82x1.88x1.60x1.82x2.34x1.22x1.45x1.22x1.29x
Cash Conversion Cycle17.68M148.05180.36149.82154.48143.05130.18122.24127.11117.16191.75182.74136.84153.01125.9592.4960.63130.15115.19112.11116.71109.97151.38127.9197.26181306.23110.18135.1164.11181.01
Total Non-Current Liabilities283M288.62M242.56M233.76M209.05M288.83M220.64M207.28M174.16M207.7M266.65M8.13M10.74M8.66M207.72M212.27M210.71M217.02M112.78M113.07M111.56M111.38M106.79M393K30.04M44.42M39.17M900K1.4M1.3M1.8M
Long-Term Debt211.07M210M170.49M160.03M130M201M149.5M165M148.09M176.23M239.97M000200M200M200M200M105M105M105M105M105M028.68M42M38.81M1M1.4M1.3M1.9M
Capital Lease Obligations121.4M29.38M30.26M41.76M44.42M39.57M24.11M0765K1.77M4.02M000000000243K396K158K393K1.29M2.16M00000
Deferred Tax Liabilities18.17M4.62M6.19M9.49M15.36M21.23M17.64M12.48M10.93M17.31M9.8M2.92M3.63M1.74M02.1M2.97M14.73M5.87M7.96M6.32M5.99M1.63M00000000
Other Non-Current Liabilities18.73M23.62M14.59M4.05M9.3M17.22M19.79M19.15M6.69M5.17M7.1M5.21M7.11M6.92M7.72M10.17M7.74M2.28M1.91M108K000058K259K367K-100K00-100K
Total Liabilities430.21M446.87M426.11M445.73M402.51M492.39M380.35M352.63M339.47M351.91M450.8M72.47M76.93M277.75M290.38M308.33M364.93M309.54M210.32M210.57M201.02M185.77M163.99M46.68M59.3M81.42M68.25M11.4M7.6M7.1M6.3M
Total Debt251.48M250.68M212.66M214.81M183.11M249.41M181.86M165.76M167.9M195.8M258.65M00200M200M200M200M200M105M105M105.4M105.63M105.39M1.29M31.04M51.15M41.52M1.6M2.2M1.9M2.5M
Net Debt218.65M210.66M180.23M195.85M161.45M218.55M133.98M120.18M124.42M153.96M191.84M-150.95M-154.5M-156.64M-167.89M-358.8M-407.59M-285.45M-305.07M-237.9M-146.19M-108.78M-57.9M-47.33M15.53M14.95M28.93M-4.3M-500K600K700K
Debt / Equity0.96x0.85x0.44x0.39x0.32x0.50x0.33x0.31x0.33x0.41x0.55x--0.49x0.47x0.32x0.29x0.32x0.24x0.30x0.41x0.54x0.74x0.01x0.46x0.78x0.72x0.09x0.18x0.17x0.24x
Debt / EBITDA0.00x--11.51x--3.84x2.31x2.41x3.14x5.87x--4.01x2.87x1.67x1.45x1.71x0.81x1.02x1.34x1.75x2.55x0.06x2.40x2.49x5.38x0.36x0.85x1.12x1.67x
Net Debt / EBITDA0.00x--10.50x--2.83x1.68x1.78x2.47x4.35x-3.71x-2.67x-3.14x-2.41x-2.99x-2.96x-2.44x-2.37x-2.31x-1.85x-1.81x-1.40x-2.05x1.20x0.73x3.75x-0.98x-0.19x0.35x0.47x
Interest Coverage0.31x-2.39x-3.39x-0.91x-6.37x-9.99x2.54x4.12x3.36x2.15x-0.06x71.14x6.96x4.37x5.99x13.10x13.34x25.15x45.05x------------
Total Equity263.28M293.97M486.33M550.51M571.79M500.72M549.3M535.08M505.68M480.15M470.4M401.41M396.93M404.06M429.4M629.18M701.63M629.13M442.8M345.77M254.24M196.63M142.4M117.57M67.29M65.56M57.78M18.4M12.1M10.9M10.3M
Equity Growth %-48.24%-39.55%-11.66%-3.72%14.19%-8.84%2.66%5.81%5.32%2.07%17.19%1.13%-1.77%-5.9%-31.75%-10.33%11.52%42.08%28.06%36%29.3%38.08%21.12%74.72%2.63%13.47%214.03%52.07%11.01%5.83%1.98%
Book Value per Share8.7710.0016.8919.6621.5719.4922.0622.0221.0420.4427.7224.4518.9917.5216.5219.2920.5921.1215.6612.539.307.275.756.433.833.684.531.791.291.160.92
Total Shareholders' Equity263.28M293.97M486.33M550.51M571.79M500.72M549.3M535.08M505.68M480.15M470.4M401.41M396.93M404.06M429.4M629.18M701.63M629.13M442.8M345.77M254.24M196.63M142.4M117.57M67.29M65.56M57.78M18.4M12.1M10.9M10.3M
Common Stock4.5M4.44M4.38M4.31M4.27M4.13M3.99M3.93M3.89M3.86M3.84M3.12M3.1M2.91M2.89M2.87M2.85M2.84M2.46M2.4M2.31M2.28M1.44M1.4M760K751K735K400K000
Retained Earnings-39.86M-6.89M103.58M238.91M278.68M333M417.26M420.33M405.19M385.14M383.62M413.06M409.44M403.4M404.23M393.11M351.45M290.82M254.28M177.85M112.64M67.37M30.71M8.88M-825K-1.97M-8.69M-4.7M-10M-11.1M-11.6M
Treasury Stock-441.85M-441.85M-441.85M-441.85M-441.85M-441.85M-441.85M-441.85M-441.85M-441.85M-441.85M-441.85M-436.86M-366.13M-339.18M-121.8M-185K-185K-185K-185K-185K-185K-185K-185K-185K-184K-184K-200K000
Accumulated OCI00000000000000000000000-106K-345K-519K-822K-1M000
Minority Interest0000000000000000000000000000000

Key Metrics

Growth RegimeContracting
ProfitabilityNegative
Balance SheetVulnerable
Cash FlowBurning
Top Statement Risk

Eroding equity and liquidity

Verified Source

Metrics are mathematically derived from official filings.

SEC 10-K (2026Q3)

Structural Erosion of Equity Base

As reported in recent financial filings, Comtech’s total equity has declined from $576.7 million in 2024Q3 to $263.3 million in 2026Q3, signaling a significant contraction in the company's net worth driven by persistent net losses and the accumulation of a $39.9 million deficit in retained earnings.

The consistent decline in equity suggests that the company is consuming its capital base to fund ongoing operations rather than generating internal growth. Investors should monitor whether this trajectory forces a strategic pivot or necessitates dilutive capital raises to stabilize the balance sheet.

Rising Leverage Amidst Operational Losses

Based on the provided quarterly data, Comtech’s debt-to-equity ratio has climbed from 0.35 in 2024Q3 to 0.96 in 2026Q3, indicating that the company is becoming increasingly reliant on debt financing even as its ability to generate positive operating income remains severely constrained.

The increase in leverage appears to be a necessity-driven response to operational cash burn rather than a strategic move to optimize capital structure. This trend warrants further investigation into the company's debt covenants and its capacity to service these obligations if revenue contraction persists.

Tightening Liquidity and Cash Runway

According to recent balance sheet disclosures, Comtech’s current ratio has fluctuated significantly, dropping to 1.61 in 2026Q3 from a peak of 1.83 in 2024Q4, which suggests a narrowing buffer against short-term liabilities in an environment of declining cash reserves and operational volatility.

The company's liquidity position appears precarious, as cash levels remain low relative to the scale of its fixed-cost obligations. The reliance on project-based milestones for cash inflows may leave the firm vulnerable to sudden liquidity shocks if government contract payments are delayed.

Goodwill Impairment and Asset Quality

As evidenced by the reported balance sheet figures, the company’s goodwill remains a substantial portion of total assets, which may indicate a risk of future impairment charges if the underlying business units fail to meet their projected performance targets in the current fiscal environment.

The high concentration of intangible assets relative to tangible equity suggests that the balance sheet may be overstating the value of the company's core operations. Investors should be cautious, as any significant write-down of these assets could further erode the equity base and trigger technical defaults on existing debt agreements.

CMTL — Frequently Asked Questions

Quick answers to the most common questions about buying CMTL stock.

What are the total assets of Comtech Telecommunications Corp. (CMTL)?

As of 2025, Comtech Telecommunications Corp. (CMTL) had total assets of $740.8M including $270.2M in current assets.

How much debt does Comtech Telecommunications Corp. (CMTL) have?

Comtech Telecommunications Corp. (CMTL) carries total debt of $250.7M, offset by $40.0M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.

What is the book value or shareholders' equity of Comtech Telecommunications Corp.?

Comtech Telecommunications Corp. (CMTL) has total shareholders' equity (book value) of $294.0M ($10.00 book value per share). Book value represents the net worth of the company belonging to common stock holders.

What is Comtech Telecommunications Corp.'s current ratio and liquidity?

Comtech Telecommunications Corp. (CMTL) reported a current ratio of 1.71x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.