CTS Corporation (CTS) 10-Year Financial Performance & Capital Metrics

CTS • • Industrial / General

TechnologyTech Hardware & EquipmentElectronic Components & ConnectorsSensors & Actuators

AboutCTS Corporation manufactures and sells sensors, actuators, and connectivity components in North America, Europe, and Asia. The company provides sensors and actuators for use in passenger or commercial vehicles; connectivity components for telecommunications infrastructure, information technology, and other high-speed applications; switches, temperature sensors, and potentiometers supplied to multiple markets; and fabricated piezoelectric materials and substrates used primarily in medical, industrial, aerospace and defense, and information technology markets. In addition, the company sells and markets its products through its sales engineers, independent manufacturers' representatives, and distributors. CTS Corporation was founded in 1896 and is headquartered in Lisle, Illinois.Show more

Revenue $516M -6.4%
EBITDA $107M -0.7%
Net Income $58M -4.0%
EPS (Diluted) 1.89 -1.6%
Gross Margin 36.51% +6.8%
EBITDA Margin 20.84% +6.1%
Operating Margin 14.85% +2.9%
Net Margin 11.27% +2.5%
ROE 10.99% -6.2%
ROIC 11.33% -12.7%
Debt/Equity 0.22 +20.0%
Interest Coverage 18.07 -24.3%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓FCF machine: 15.6% free cash flow margin
✓High quality earnings: Operating CF exceeds net income
✓Share count reduced 2.7% through buybacks

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y2.47%

5Y1.91%

3Y0.17%

TTM3.65%

Profit (Net Income) CAGR

10Y8.16%

5Y9.96%

3Y-

TTM-1.07%

EPS CAGR

10Y9.25%

5Y11.64%

3Y-

TTM1.03%

ROCE

10Y Avg12.37%

5Y Avg12.64%

3Y Avg13.31%

Latest11.66%

Peer Comparison

Sensors & Actuators

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
STSensata Technologies Holding plc	5.13B	35.22	41.44	-3.34%	-0.71%	-0.96%	7.66%	1.13
CTSCTS Corporation	1.41B	48.40	25.61	-6.36%	11.13%	10.81%	5.74%	0.22
LINKInterlink Electronics, Inc.	59.54M	3.78	-15.75	-16.22%	-12.09%	-15.1%		0.11

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	382.31M	396.8M	423.48M	470.1M	469M	424.19M	512.92M	586.87M	550.55M	515.54M
Revenue Growth %	-0.05%	0.04%	0.07%	0.11%	-0%	-0.1%	0.21%	0.14%	-0.06%	-0.06%
Cost of Goods Sold+	254.57M	256.36M	282.06M	301.47M	312.28M	284.25M	329.69M	377.25M	362.36M	327.33M
COGS % of Revenue	0.67%	0.65%	0.67%	0.64%	0.67%	0.67%	0.64%	0.64%	0.66%	0.63%
Gross Profit+	127.74M	140.44M	141.42M	168.63M	156.72M	139.94M	183.24M	209.61M	188.19M	188.21M
Gross Margin %	0.33%	0.35%	0.33%	0.36%	0.33%	0.33%	0.36%	0.36%	0.34%	0.37%
Gross Profit Growth %	-0.03%	0.1%	0.01%	0.19%	-0.07%	-0.11%	0.31%	0.14%	-0.1%	0%
Operating Expenses+	96.59M	84.86M	97.04M	98.77M	96.47M	92.1M	106.45M	115.62M	108.73M	111.67M
OpEx % of Revenue	0.25%	0.21%	0.23%	0.21%	0.21%	0.22%	0.21%	0.2%	0.2%	0.22%
Selling, General & Admin	59.59M	60.82M	71.9M	73.46M	70.5M	67.78M	82.6M	91.52M	83.82M	88.28M
SG&A % of Revenue	0.16%	0.15%	0.17%	0.16%	0.15%	0.16%	0.16%	0.16%	0.15%	0.17%
Research & Development	22.46M	24.04M	25.15M	25.3M	25.97M	24.32M	23.86M	24.1M	24.92M	23.39M
R&D % of Revenue	0.06%	0.06%	0.06%	0.05%	0.06%	0.06%	0.05%	0.04%	0.05%	0.05%
Other Operating Expenses	14.54M	0	0	0	0	0	0	0	0	0
Operating Income+	31.15M	55.58M	44.37M	69.87M	60.25M	47.85M	76.78M	93.99M	79.46M	76.53M
Operating Margin %	0.08%	0.14%	0.1%	0.15%	0.13%	0.11%	0.15%	0.16%	0.14%	0.15%
Operating Income Growth %	-0.38%	0.78%	-0.2%	0.57%	-0.14%	-0.21%	0.6%	0.22%	-0.15%	-0.04%
EBITDA+	47.41M	74.57M	65.05M	92.38M	84.87M	74.52M	103.71M	123.75M	108.17M	107.46M
EBITDA Margin %	0.12%	0.19%	0.15%	0.2%	0.18%	0.18%	0.2%	0.21%	0.2%	0.21%
EBITDA Growth %	-0.29%	0.57%	-0.13%	0.42%	-0.08%	-0.12%	0.39%	0.19%	-0.13%	-0.01%
D&A (Non-Cash Add-back)	16.25M	18.99M	20.67M	22.51M	24.62M	26.67M	26.93M	29.75M	28.71M	30.92M
EBIT	15.66M	61.88M	43.63M	60.61M	53.41M	48.32M	-59.51M	83.47M	80.79M	77.25M
Net Interest Income+	445K	-2.4M	-2.06M	-259K	-911K	-2.23M	-1.27M	-866K	1.29M	46K
Interest Income	3.07M	1.3M	1.28M	1.83M	1.74M	1.05M	840K	1.33M	4.63M	4.28M
Interest Expense	2.63M	3.7M	3.34M	2.08M	2.65M	3.27M	2.11M	2.19M	3.33M	4.24M
Other Income/Expense	-18.89M	1.67M	-4.12M	-11.77M	-9.98M	-2.37M	-137.66M	-13.26M	-4.31M	-5.31M
Pretax Income+	12.26M	57.24M	40.25M	58.1M	50.27M	45.48M	-60.88M	80.74M	75.15M	71.22M
Pretax Margin %	0.03%	0.14%	0.1%	0.12%	0.11%	0.11%	-0.12%	0.14%	0.14%	0.14%
Income Tax+	5.31M	22.86M	25.8M	11.57M	14.12M	10.79M	-19.01M	21.16M	14.62M	13.11M
Effective Tax Rate %	0.57%	0.6%	0.36%	0.8%	0.72%	0.76%	0.69%	0.74%	0.81%	0.82%
Net Income+	6.95M	34.38M	14.45M	46.53M	36.15M	34.69M	-41.87M	59.58M	60.53M	58.11M
Net Margin %	0.02%	0.09%	0.03%	0.1%	0.08%	0.08%	-0.08%	0.1%	0.11%	0.11%
Net Income Growth %	-0.74%	3.94%	-0.58%	2.22%	-0.22%	-0.04%	-2.21%	2.42%	0.02%	-0.04%
Net Income (Continuing)	6.95M	34.38M	14.45M	46.53M	36.15M	34.69M	-41.87M	59.58M	60.53M	58.11M
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	1.03	0.43	1.39	1.09	1.06	-1.30	1.85	1.92	1.89
EPS Growth %	-0.73%	3.9%	-0.58%	2.23%	-0.22%	-0.03%	-2.23%	2.42%	0.04%	-0.02%
EPS (Basic)	0.21	1.05	0.44	1.41	1.11	1.07	-1.30	1.86	1.93	1.91
Diluted Shares Outstanding	33.48M	33.25M	33.42M	33.57M	33.1M	32.58M	32.33M	32.24M	31.58M	30.72M
Basic Shares Outstanding	32.96M	32.73M	32.89M	33.02M	32.7M	32.32M	32.33M	31.97M	31.36M	30.41M
Dividend Payout Ratio	0.76%	0.15%	0.36%	0.11%	0.14%	0.15%	-	0.09%	0.08%	0.08%

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+	251.98M	215.71M	233.61M	239.36M	237.48M	233.23M	289.09M	325.76M	319.35M	244.28M
Cash & Short-Term Investments	156.93M	113.81M	113.57M	100.93M	100.24M	91.77M	141.47M	156.91M	163.88M	94.33M
Cash Only	156.93M	113.81M	113.57M	100.93M	100.24M	91.77M	141.47M	156.91M	163.88M	94.33M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	54.56M	62.61M	70.58M	79.52M	78.01M	80.98M	82.19M	90.94M	78.57M	77.65M
Days Sales Outstanding	52.09	57.59	60.84	61.74	60.71	69.68	58.49	56.56	52.09	54.98
Inventory	24.6M	28.65M	36.6M	43.49M	42.24M	45.87M	49.51M	62.26M	60.03M	53.58M
Days Inventory Outstanding	35.27	40.79	47.36	52.65	49.37	58.9	54.81	60.24	60.47	59.74
Other Current Assets	9.86M	10.64M	12.86M	15.42M	16.99M	14.61M	15.93M	15.65M	16.87M	18.72M
Total Non-Current Assets+	232.15M	301.99M	304.08M	308.98M	405.88M	392.82M	375.37M	422.73M	421.82M	521.84M
Property, Plant & Equipment	69.87M	82.11M	88.25M	99.4M	129.68M	120.72M	118.47M	120M	119.02M	117.3M
Fixed Asset Turnover	5.47x	4.83x	4.80x	4.73x	3.62x	3.51x	4.33x	4.89x	4.63x	4.40x
Goodwill	33.87M	61.74M	69.05M	71.06M	106.06M	109.5M	109.8M	152.36M	157.64M	199.89M
Intangible Assets	34.76M	64.37M	66.94M	60.18M	85.22M	79.12M	69.89M	108.05M	103.96M	163.88M
Long-Term Investments	33.78M	46.18M	57.05M	54.1M	62.08M	56.64M	49.38M	1.43M	706K	711K
Other Non-Current Assets	1.34M	1.74M	2.1M	2.04M	3.05M	2.59M	2.42M	17.42M	15.32M	12.47M
Total Assets+	484.13M	517.7M	537.68M	548.34M	643.35M	626.05M	664.46M	748.49M	741.17M	766.11M
Asset Turnover	0.79x	0.77x	0.79x	0.86x	0.73x	0.68x	0.77x	0.78x	0.74x	0.67x
Asset Growth %	0.06%	0.07%	0.04%	0.02%	0.17%	-0.03%	0.06%	0.13%	-0.01%	0.03%
Total Current Liabilities+	101.35M	98.13M	102.41M	103.99M	96.95M	104.93M	114.07M	112.53M	97.04M	97.55M
Accounts Payable	40.3M	40.05M	49.2M	51.98M	48.22M	50.49M	55.54M	53.21M	43.5M	42.63M
Days Payables Outstanding	57.78	57.02	63.67	62.93	56.36	64.83	61.48	51.48	43.82	47.53
Short-Term Debt	0	1.01M	0	0	2.79M	3.29M	3.39M	3.94M	4.39M	4.72M
Deferred Revenue (Current)	0	0	0	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	38.33M	35.88M	35.87M	26.8M	23.53M	27.04M	26.7M	22.86M	25.5M	26.92M
Current Ratio	2.49x	2.20x	2.28x	2.30x	2.45x	2.22x	2.53x	2.89x	3.29x	2.50x
Quick Ratio	2.24x	1.91x	1.92x	1.88x	2.01x	1.79x	2.10x	2.34x	2.67x	1.95x
Cash Conversion Cycle	29.58	41.37	44.53	51.46	53.72	63.75	51.81	65.31	68.74	67.18
Total Non-Current Liabilities+	107.1M	101.69M	93.48M	66.42M	141.19M	97.43M	86.82M	129.73M	117.31M	137.71M
Long-Term Debt	90.7M	89.1M	76.3M	50M	99.7M	54.6M	50M	83.67M	67.5M	91.25M
Capital Lease Obligations	0	0	0	0	24.93M	23.16M	21.35M	21.75M	24.96M	21.12M
Deferred Tax Liabilities	0	0	1.79M	3.99M	5.64M	7.01M	5.89M	16.01M	14.73M	12.74M
Other Non-Current Liabilities	16.4M	12.59M	13.38M	12.43M	10.92M	12.66M	9.57M	8.3M	10.11M	12.59M
Total Liabilities	202.48M	199.81M	193.88M	170.41M	238.13M	202.37M	200.88M	242.26M	214.34M	235.26M
Total Debt+	90.7M	90.11M	76.3M	50M	127.41M	81.06M	74.75M	109.36M	96.86M	117.09M
Net Debt	-66.23M	-23.7M	-37.27M	-50.93M	27.17M	-10.72M	-66.72M	-47.55M	-67.02M	22.76M
Debt / Equity	0.32x	0.28x	0.22x	0.13x	0.31x	0.19x	0.16x	0.22x	0.18x	0.22x
Debt / EBITDA	1.91x	1.21x	1.17x	0.54x	1.50x	1.09x	0.72x	0.88x	0.90x	1.09x
Net Debt / EBITDA	-1.40x	-0.32x	-0.57x	-0.55x	0.32x	-0.14x	-0.64x	-0.38x	-0.62x	0.21x
Interest Coverage	11.85x	15.01x	13.27x	33.51x	22.75x	14.62x	36.37x	42.88x	23.85x	18.07x
Total Equity+	281.65M	317.88M	343.81M	377.93M	405.22M	423.68M	463.58M	506.22M	526.82M	530.85M
Equity Growth %	-0.03%	0.13%	0.08%	0.1%	0.07%	0.05%	0.09%	0.09%	0.04%	0.01%
Book Value per Share	8.41	9.56	10.29	11.26	12.24	13.00	14.34	15.70	16.68	17.28
Total Shareholders' Equity	281.65M	317.88M	343.81M	377.93M	405.22M	423.68M	463.58M	506.22M	526.82M	530.85M
Common Stock	300.91M	302.83M	304.78M	306.7M	307.93M	311.19M	314.62M	316.8M	319.27M	321.98M
Retained Earnings	381.84M	410.98M	420.16M	478.85M	509.77M	539.28M	492.24M	546.7M	602.23M	655.49M
Treasury Stock	-343.26M	-343.26M	-343.26M	-352.7M	-364.44M	-372.52M	-381.31M	-402.75M	-444.04M	-487.02M
Accumulated OCI	-99M	-93.19M	-78.96M	-97.74M	-91.73M	-95.92M	-4.53M	-671K	4.26M	-4.27M
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+	38.62M	47.2M	58.05M	58.15M	64.41M	76.78M	86.14M	121.2M	88.81M	99.29M
Operating CF Margin %	0.1%	0.12%	0.14%	0.12%	0.14%	0.18%	0.17%	0.21%	0.16%	0.19%
Operating CF Growth %	0.19%	0.22%	0.23%	0%	0.11%	0.19%	0.12%	0.41%	-0.27%	0.12%
Net Income	6.95M	34.38M	14.45M	46.53M	36.15M	34.69M	-41.87M	59.58M	60.53M	58.11M
Depreciation & Amortization	16.25M	18.99M	20.67M	22.51M	24.62M	26.67M	26.93M	29.75M	28.71M	30.92M
Stock-Based Compensation	3.19M	2.74M	4.18M	5.26M	5.01M	3.42M	6.11M	7.73M	5.18M	5.65M
Deferred Taxes	-8.92M	10.3M	16.71M	-1.01M	2.41M	-2.05M	-30.98M	492K	-4.05M	-2.79M
Other Non-Cash Items	30.12M	-10.04M	12.37M	340K	2.75M	3.99M	132.62M	2.04M	1.97M	49K
Working Capital Changes	-8.98M	-9.17M	-10.34M	-15.48M	-6.54M	10.06M	-6.66M	21.61M	-3.54M	7.35M
Change in Receivables	1.04M	-7.12M	-5.2M	-9.88M	3.78M	-343K	-928K	-5.91M	12.59M	27K
Change in Inventory	2.23M	-2.29M	-5.4M	-7.52M	4.37M	-578K	-3.57M	-8.21M	2.35M	11.89M
Change in Payables	-5.13M	537K	5.39M	5.11M	-4.66M	3.86M	3.14M	-2.29M	-9.75M	-1.77M
Cash from Investing+	-9.13M	-81.27M	-36.67M	-28.48M	-95.5M	-23.17M	-15.9M	-111.19M	-18.1M	-140.56M
Capital Expenditures	-9.72M	-20.5M	-18.09M	-28.49M	-21.73M	-14.86M	-15.64M	-14.33M	-14.74M	-18.64M
CapEx % of Revenue	0.03%	0.05%	0.04%	0.06%	0.05%	0.04%	0.03%	0.02%	0.03%	0.04%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	0	0	0	0	0	0	0	0	0	0
Cash from Financing+	-7.3M	-8.64M	-20.81M	-42.49M	30.06M	-61.33M	-20.71M	4.34M	-65.4M	-27.93M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-5.29M	-5.23M	-5.26M	-5.29M	-5.24M	-5.18M	-5.17M	-5.13M	-5.04M	-4.88M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-214K	-1.81M	-1.6M	-1.47M	-2.66M	-2.97M	-2.15M	-2.72M	-3.26M	-4.21M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	28.9M	26.7M	39.95M	29.66M	42.67M	61.92M	70.5M	106.86M	74.07M	80.64M
FCF Margin %	0.08%	0.07%	0.09%	0.06%	0.09%	0.15%	0.14%	0.18%	0.13%	0.16%
FCF Growth %	0.48%	-0.08%	0.5%	-0.26%	0.44%	0.45%	0.14%	0.52%	-0.31%	0.09%
FCF per Share	0.86	0.80	1.20	0.88	1.29	1.90	2.18	3.31	2.35	2.63
FCF Conversion (FCF/Net Income)	5.55x	1.37x	4.02x	1.25x	1.78x	2.21x	-2.06x	2.03x	1.47x	1.71x
Interest Paid	2.42M	2.94M	2.13M	1.58M	1.96M	2.6M	1.95M	2.02M	3.13M	4.23M
Taxes Paid	6.78M	10.47M	10.88M	9.92M	11.11M	11.97M	16.89M	20.08M	20.23M	16.6M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	2.43%	11.47%	4.37%	12.89%	9.23%	8.37%	-9.44%	12.29%	11.72%	10.99%
Return on Invested Capital (ROIC)	10.48%	16.36%	11.08%	16.54%	11.9%	8.49%	14.22%	16.48%	12.98%	11.33%
Gross Margin	33.41%	35.39%	33.39%	35.87%	33.41%	32.99%	35.72%	35.72%	34.18%	36.51%
Net Margin	1.82%	8.66%	3.41%	9.9%	7.71%	8.18%	-8.16%	10.15%	10.99%	11.27%
Debt / Equity	0.32x	0.28x	0.22x	0.13x	0.31x	0.19x	0.16x	0.22x	0.18x	0.22x
Interest Coverage	11.85x	15.01x	13.27x	33.51x	22.75x	14.62x	36.37x	42.88x	23.85x	18.07x
FCF Conversion	5.55x	1.37x	4.02x	1.25x	1.78x	2.21x	-2.06x	2.03x	1.47x	1.71x
Revenue Growth	-5.37%	3.79%	6.72%	11.01%	-0.23%	-9.55%	20.92%	14.42%	-6.19%	-6.36%

Revenue by Segment

	2012	2013	2014	2015	2016	2017	2018	2019
Components and Sensors	304.48M	-	-	-	-	-	-	-
Components and Sensors Growth	-	-	-	-	-	-	-	-
EMS	272.44M	-	-	-	-	-	-	-
EMS Growth	-	-	-	-	-	-	-	-

Revenue by Geography

	2012	2013	2014	2015	2016	2017	2018	2019
UNITED STATES	361.31M	-	-	238.8M	276.03M	287.09M	313.49M	279.9M
UNITED STATES Growth	-	-	-	-	15.59%	4.01%	9.19%	-10.71%
CHINA	74.15M	-	-	55.83M	59.51M	66.51M	79.38M	87.34M
CHINA Growth	-	-	-	-	6.59%	11.77%	19.35%	10.03%
CZECH REPUBLIC	-	-	-	36.35M	34.77M	34.48M	36.53M	33.21M
CZECH REPUBLIC Growth	-	-	-	-	-4.35%	-0.84%	5.95%	-9.07%
SINGAPORE	14.46M	-	-	8.38M	6.67M	5.6M	6.72M	32.96M
SINGAPORE Growth	-	-	-	-	-20.42%	-16.08%	20.16%	390.14%
TAIWAN, PROVINCE OF CHINA	-	-	-	-	-	-	20.8M	19.81M
TAIWAN, PROVINCE OF CHINA Growth	-	-	-	-	-	-	-	-4.77%
Other Non United States	24.34M	15.58M	16.94M	18.44M	19.7M	29.32M	13.56M	15.77M
Other Non United States Growth	-	-35.97%	8.68%	8.90%	6.84%	48.79%	-53.75%	16.31%
CANADA	39.19M	-	-	24.52M	-	-	-	-
CANADA Growth	-	-	-	-	-	-	-	-
U S	-	223.21M	-	-	-	-	-	-
U S Growth	-	-	-	-	-	-	-	-
C N	-	72.51M	-	-	-	-	-	-
C N Growth	-	-	-	-	-	-	-	-
C A	-	38.06M	-	-	-	-	-	-
C A Growth	-	-	-	-	-	-	-	-
M C Z K	-	18.12M	-	-	-	-	-	-
M C Z K Growth	-	-	-	-	-	-	-	-
S G	-	13.81M	-	-	-	-	-	-
S G Growth	-	-	-	-	-	-	-	-
MTS CZECH REPUBLIC	20.21M	-	-	-	-	-	-	-
MTS CZECH REPUBLIC Growth	-	-	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

CTS Corporation (CTS) has a price-to-earnings (P/E) ratio of 25.6x. This suggests investors expect higher future growth.

Growth & Financials

CTS Corporation (CTS) reported $531.6M in revenue for fiscal year 2024. This represents a 10% decrease from $588.5M in 2011.

CTS Corporation (CTS) saw revenue decline by 6.4% over the past year.

Yes, CTS Corporation (CTS) is profitable, generating $59.2M in net income for fiscal year 2024 (11.3% net margin).

Dividend & Returns

Yes, CTS Corporation (CTS) pays a dividend with a yield of 0.33%. This makes it attractive for income-focused investors.

CTS Corporation (CTS) has a return on equity (ROE) of 11.0%. This is reasonable for most industries.

CTS Corporation (CTS) generated $80.2M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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