Innovative Solutions and Support, Inc. (ISSC) 10-Year Financial Performance & Capital Metrics

ISSC • • Industrial / General

IndustrialsAerospace & DefenseAerospace Components & SubsystemsAvionics & Flight Systems

AboutInnovative Solutions and Support, Inc., a systems integrator, designs, develops, manufactures, sells, and services flight guidance, autothrottle, and cockpit display systems in the United States and internationally. It offers flat panel display systems that replicate the display of analog or digital displays on one screen and replace existing displays in legacy aircraft, as well as used for security monitoring on-board aircraft and as tactical workstations on military aircraft; and flight management systems that complement the flat panel display system upgrade for commercial air transport aircraft. The company also provides integrated standby units, which incorporate the measurement and display of attitude, altitude, airspeed, and navigation data into a single standby/backup navigation instrument for military, commercial air transport, and corporate/general aviation applications. In addition, it offers digital air data computers that calculate various air data parameters, such as altitude, airspeed, vertical speed, angle of attack, and other information; integrated air data computers and display units, which calculate and convey air data information; altitude displays that convey aircraft altitude measurements; airspeed displays that convey various airspeed measurements; and altitude alerters. Further, the company offers the engine and fuel displays that convey information related to fuel and oil levels, and engine activity, including oil and hydraulic pressure and temperature; integrated global navigation systems; ThrustSense, a full regime autothrottle; and utility management systems. It serves commercial air transport carriers and corporate/general aviation companies, the Department of Defense and its commercial contractors, aircraft operators, aircraft modification centers, government agencies, and foreign militaries, as well as original equipment manufacturers. Innovative Solutions and Support, Inc. was incorporated in 1988 and is based in Exton, Pennsylvania.Show more

Revenue $84M +78.6%
EBITDA $24M +102.4%
Net Income $16M +123.3%
EPS (Diluted) 0.88 +120.0%
Gross Margin 48.06% -12.5%
EBITDA Margin 28.24% +13.3%
Operating Margin 23.81% +16.3%
Net Margin 18.54% +25.0%
ROE 28.1% +71.2%
ROIC 18.8% +68.1%
Debt/Equity 0.37 -37.8%
Interest Coverage 11.63 +12.9%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 20.6%
✓Strong 5Y profit CAGR of 36.7%
✓Momentum leader: RS Rating 95 (top 5%)
✓Strong 5Y sales CAGR of 31.3%
✓Healthy 5Y average net margin of 18.5%

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y15.43%

5Y31.31%

3Y44.84%

TTM72.82%

Profit (Net Income) CAGR

10Y-

5Y36.73%

3Y41.43%

TTM81.26%

EPS CAGR

10Y-

5Y35.88%

3Y40.1%

TTM79.62%

ROCE

10Y Avg10.59%

5Y Avg19.47%

3Y Avg18.93%

Latest24.61%

Peer Comparison

Avionics & Flight Systems

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
CWCurtiss-Wright Corporation	23.44B	635.74	60.26	9.69%	13.78%	18.39%	2.06%	0.50
RTXRTX Corporation	260.22B	194.08	54.67	17.15%	7.67%	9.93%	1.74%	0.69
TATTTAT Technologies Ltd.	675.51M	52.16	52.16	33.68%	9.08%	9.18%		0.18
WWDWoodward, Inc.	19.8B	330.09	45.91	7.3%	12.39%	17.23%	1.72%	0.10
TDGTransDigm Group Incorporated	77.83B	1381.98	38.78	11.22%	22.52%		2.33%
MOG-AMoog Inc.	7.98B	276.61	37.74	6.97%	6.08%	11.8%	1.61%	0.56
ISSCInnovative Solutions and Support, Inc.	341.73M	19.25	21.88	78.6%	15.11%	20.6%	1.99%	0.37
RALRalliant Corp.	5.89B	52.25	19.50	-0.05%	14.06%	10.06%	7.13%	0.02

Profit & Loss

	Sep 2016	Sep 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024	Sep 2025
Sales/Revenue+	27.97M	16.79M	13.85M	17.57M	21.6M	23.04M	27.74M	34.81M	47.2M	84.3M
Revenue Growth %	0.39%	-0.4%	-0.17%	0.27%	0.23%	0.07%	0.2%	0.25%	0.36%	0.79%
Cost of Goods Sold+	11.48M	8.67M	7.31M	7.68M	9.79M	10.26M	11.07M	13.5M	21.28M	43.79M
COGS % of Revenue	0.41%	0.52%	0.53%	0.44%	0.45%	0.45%	0.4%	0.39%	0.45%	0.52%
Gross Profit+	16.49M	8.12M	6.54M	9.9M	11.8M	12.78M	16.67M	21.31M	25.91M	40.51M
Gross Margin %	0.59%	0.48%	0.47%	0.56%	0.55%	0.55%	0.6%	0.61%	0.55%	0.48%
Gross Profit Growth %	1.23%	-0.51%	-0.19%	0.51%	0.19%	0.08%	0.3%	0.28%	0.22%	0.56%
Operating Expenses+	14.04M	8.2M	10.25M	8.37M	9.06M	8.88M	9.46M	13.54M	16.25M	20.44M
OpEx % of Revenue	0.5%	0.49%	0.74%	0.48%	0.42%	0.39%	0.34%	0.39%	0.34%	0.24%
Selling, General & Admin	9.17M	3.74M	6.67M	5.88M	6.1M	6.26M	6.75M	10.41M	12.11M	16.45M
SG&A % of Revenue	0.33%	0.22%	0.48%	0.33%	0.28%	0.27%	0.24%	0.3%	0.26%	0.2%
Research & Development	4.87M	4.46M	3.58M	2.49M	2.96M	2.62M	2.71M	3.13M	4.14M	3.99M
R&D % of Revenue	0.17%	0.27%	0.26%	0.14%	0.14%	0.11%	0.1%	0.09%	0.09%	0.05%
Other Operating Expenses	78.44K	0	67.72K	73.74K	0	0	0	0	0	0
Operating Income+	2.44M	-77.56K	-3.71M	1.08M	2.75M	3.9M	7.22M	7.77M	9.66M	20.07M
Operating Margin %	0.09%	-0%	-0.27%	0.06%	0.13%	0.17%	0.26%	0.22%	0.2%	0.24%
Operating Income Growth %	2.1%	-1.03%	-46.85%	1.29%	1.55%	0.42%	0.85%	0.08%	0.24%	1.08%
EBITDA+	2.94M	371.62K	-3.28M	1.53M	3.18M	4.33M	7.58M	8.47M	11.76M	23.81M
EBITDA Margin %	0.1%	0.02%	-0.24%	0.09%	0.15%	0.19%	0.27%	0.24%	0.25%	0.28%
EBITDA Growth %	2.78%	-0.87%	-9.81%	1.47%	1.08%	0.36%	0.75%	0.12%	0.39%	1.02%
D&A (Non-Cash Add-back)	493.36K	449.19K	436.21K	451.28K	433.51K	432.18K	368.5K	697.94K	2.1M	3.73M
EBIT	2.44M	-77.56K	-3.71M	1.53M	2.75M	3.9M	7.34M	8.03M	9.79M	21.68M
Net Interest Income+	33.5K	35.89K	53.56K	249.62K	154.95K	1.23K	61.05K	124.91K	-809.98K	-1.71M
Interest Income	33.5K	35.89K	53.56K	249.62K	154.95K	1.23K	61.05K	518.19K	127.33K	18.94K
Interest Expense	0	0	0	0	0	0	0	393.28K	937.31K	1.73M
Other Income/Expense	111.94K	4.89M	121.28K	323.36K	215.45K	76.14K	126.28K	276.22K	-809.98K	-120.53K
Pretax Income+	2.56M	4.82M	-3.59M	1.85M	2.96M	3.98M	7.34M	7.64M	8.85M	19.95M
Pretax Margin %	0.09%	0.29%	-0.26%	0.11%	0.14%	0.17%	0.26%	0.22%	0.19%	0.24%
Income Tax+	568.33K	247.92K	63.65K	1.8K	-308.88K	-1.09M	1.82M	1.61M	1.85M	4.32M
Effective Tax Rate %	0.78%	0.95%	1.02%	1%	1.1%	1.27%	0.75%	0.79%	0.79%	0.78%
Net Income+	1.99M	4.57M	-3.65M	1.85M	3.27M	5.06M	5.52M	6.03M	7M	15.63M
Net Margin %	0.07%	0.27%	-0.26%	0.11%	0.15%	0.22%	0.2%	0.17%	0.15%	0.19%
Net Income Growth %	1.42%	1.3%	-1.8%	1.51%	0.77%	0.55%	0.09%	0.09%	0.16%	1.23%
Net Income (Continuing)	1.99M	4.57M	-3.65M	1.85M	3.27M	5.06M	5.52M	6.03M	7M	15.63M
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)+	0.12	0.27	-0.22	0.11	0.19	0.29	0.32	0.35	0.40	0.88
EPS Growth %	1.43%	1.25%	-1.81%	1.5%	0.73%	0.53%	0.1%	0.09%	0.14%	1.2%
EPS (Basic)	0.12	0.27	-0.22	0.11	0.19	0.29	0.32	0.35	0.40	0.89
Diluted Shares Outstanding	17.04M	16.86M	16.81M	16.94M	17.11M	17.23M	17.26M	17.42M	17.48M	17.83M
Basic Shares Outstanding	16.93M	16.74M	16.61M	16.87M	16.94M	17.23M	17.26M	17.41M	17.46M	17.57M
Dividend Payout Ratio	-	-	-	-	3.42%	3.91%	-	-	-	-

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+	29.37M	34.18M	28.66M	29.96M	33.12M	17.69M	28.2M	34.67M	34.69M	50.73M
Cash & Short-Term Investments	18.77M	24.68M	20.39M	22.42M	23.78M	8.27M	17.25M	3.1M	538.98K	2.69M
Cash Only	18.77M	24.68M	20.39M	22.42M	23.78M	8.27M	17.25M	3.1M	538.98K	2.69M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	6.22M	4.49M	3.45M	2.43M	4.37M	4.05M	4.46M	10.23M	14.29M	18.28M
Days Sales Outstanding	81.11	97.63	90.96	50.45	73.85	64.09	58.69	107.28	110.53	79.14
Inventory	3.65M	4.18M	4.28M	4.47M	4.29M	4.55M	5.35M	18.21M	18.69M	28.36M
Days Inventory Outstanding	115.89	175.99	213.66	212.58	159.94	161.65	176.43	492.41	320.56	236.45
Other Current Assets	354.06K	429.25K	284.64K	339.67K	338.78K	514.94K	365.16K	2.51M	1.11M	1.39M
Total Non-Current Assets+	7.12M	6.93M	9.19M	8.81M	8.63M	9.4M	7.16M	28.28M	48.98M	52.63M
Property, Plant & Equipment	6.96M	6.67M	8.79M	8.44M	8.22M	8.19M	6.32M	7.91M	13.37M	18.8M
Fixed Asset Turnover	4.02x	2.52x	1.58x	2.08x	2.63x	2.81x	4.39x	4.40x	3.53x	4.48x
Goodwill	0	0	0	0	0	0	0	3.56M	5.21M	6.7M
Intangible Assets	71.2K	68.6K	68.6K	49.2K	112.85K	62.47K	60.35K	16.19M	27.01M	23.58M
Long-Term Investments	0	0	0	0	0	0	0	0	0	0
Other Non-Current Assets	85.75K	118.72K	113.39K	104.84K	91.57K	82.83K	75.3K	176.66K	471.62K	718.47K
Total Assets+	36.49M	41.11M	37.85M	38.77M	41.75M	27.09M	35.36M	62.96M	83.67M	103.36M
Asset Turnover	0.77x	0.41x	0.37x	0.45x	0.52x	0.85x	0.78x	0.55x	0.56x	0.82x
Asset Growth %	-0%	0.13%	-0.08%	0.02%	0.08%	-0.35%	0.31%	0.78%	0.33%	0.24%
Total Current Liabilities+	3.57M	3.36M	3.35M	2.22M	13.65M	2.47M	3.94M	6.4M	7.27M	16.66M
Accounts Payable	1.5M	1.32M	1.53M	1.08M	790.89K	623.62K	708.85K	1.34M	2.32M	3.58M
Days Payables Outstanding	47.8	55.63	76.36	51.31	29.48	22.18	23.38	36.16	39.71	29.83
Short-Term Debt	0	0	0	0	45.13K	14.3K	13.62K	2.01M	2.1K	2.44M
Deferred Revenue (Current)	179.59K	280.35K	356.8K	29.23K	313.37K	417.5K	259.18K	143.36K	340.48K	1000K
Other Current Liabilities	1.62M	1.5M	1.32M	898.6K	12.01M	1.03M	1.93M	1.72M	1.73M	8.16M
Current Ratio	8.22x	10.17x	8.56x	13.50x	2.43x	7.16x	7.16x	5.42x	4.77x	3.04x
Quick Ratio	7.20x	8.92x	7.28x	11.48x	2.11x	5.32x	5.80x	2.57x	2.20x	1.34x
Cash Conversion Cycle	149.21	217.99	228.25	211.72	204.31	203.56	211.73	563.52	391.38	285.76
Total Non-Current Liabilities+	67.7K	137.91K	346.09K	341.04K	335.8K	28.68K	667.16K	17.92M	29.77M	22.1M
Long-Term Debt	0	0	0	0	0	0	0	17.5M	28.03M	21.7M
Capital Lease Obligations	0	0	0	0	0	28.68K	15.06K	421.51K	0	0
Deferred Tax Liabilities	67.7K	137.91K	346.09K	341.04K	335.8K	0	652.09K	0	1.29M	0
Other Non-Current Liabilities	0	0	0	0	0	0	0	0	451.35K	396.5K
Total Liabilities	3.64M	3.5M	3.7M	2.56M	13.98M	2.5M	4.61M	24.32M	37.03M	38.76M
Total Debt+	0	0	0	0	45.13K	42.98K	28.68K	19.93M	28.03M	24.14M
Net Debt	-18.77M	-24.68M	-20.39M	-22.42M	-23.74M	-8.22M	-17.22M	16.84M	27.49M	21.45M
Debt / Equity	-	-	-	-	0.00x	0.00x	0.00x	0.52x	0.60x	0.37x
Debt / EBITDA	-	-	-	-	0.01x	0.01x	0.00x	2.35x	2.38x	1.01x
Net Debt / EBITDA	-6.39x	-66.41x	-	-14.66x	-7.47x	-1.90x	-2.27x	1.99x	2.34x	0.90x
Interest Coverage	-	-	-	-	-	-	-	19.75x	10.31x	11.63x
Total Equity+	32.85M	37.61M	34.15M	36.21M	27.77M	24.59M	30.75M	38.64M	46.64M	64.6M
Equity Growth %	0.05%	0.14%	-0.09%	0.06%	-0.23%	-0.11%	0.25%	0.26%	0.21%	0.39%
Book Value per Share	1.93	2.23	2.03	2.14	1.62	1.43	1.78	2.22	2.67	3.62
Total Shareholders' Equity	32.85M	37.61M	34.15M	36.21M	27.77M	24.59M	30.75M	38.64M	46.64M	64.6M
Common Stock	18.81K	18.88K	18.94K	19.01K	19.31K	19.34K	19.41K	19.54K	19.6K	0
Retained Earnings	2.81M	7.37M	3.72M	5.57M	-2.34M	-5.88M	-359.04K	5.67M	12.67M	0
Treasury Stock	-21.37M	-21.37M	-21.37M	-21.37M	-21.37M	-21.37M	-21.37M	-21.37M	-21.37M	0
Accumulated OCI	0	0	0	0	0	0	0	0	0	0
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+	3.56M	6.07M	-1.74M	2.11M	2.19M	4.59M	6.09M	2.1M	5.8M	13.3M
Operating CF Margin %	0.13%	0.36%	-0.13%	0.12%	0.1%	0.2%	0.22%	0.06%	0.12%	0.16%
Operating CF Growth %	1.54%	0.7%	-1.29%	2.21%	0.04%	1.09%	0.33%	-0.66%	1.77%	1.3%
Net Income	1.99M	4.57M	-3.65M	1.85M	3.27M	5.06M	5.52M	6.03M	7M	15.63M
Depreciation & Amortization	493.36K	449.19K	436.21K	451.28K	433.51K	432.18K	368.5K	697.94K	2.1M	3.73M
Stock-Based Compensation	251.39K	191.75K	200K	173.49K	177.34K	341.33K	339.94K	1.45M	1M	2.34M
Deferred Taxes	486.12K	41	61.85K	57	38	-1.19M	1.02M	9.5K	-1.14M	-1.25M
Other Non-Cash Items	3.6K	92.83K	184.8K	98.73K	66.51K	-100.45K	-1.19M	88.71K	-160.58K	-7.14M
Working Capital Changes	340.77K	763.24K	1.21M	-466.45K	-1.76M	48.05K	36.63K	-6.18M	-3.01M	0
Change in Receivables	-2.12M	1.76M	225.34K	1.1M	-2.02M	322.77K	-251.12K	-5.45M	-4.06M	-343.99K
Change in Inventory	951.49K	-626.65K	-100.45K	-289.31K	112.85K	-153.61K	-708.86K	-834.92K	-2.34M	-9.67M
Change in Payables	67.79K	-182.52K	208.54K	-450.72K	-288.18K	-167.27K	85.22K	628.43K	978.2K	1.26M
Cash from Investing+	-351.65K	-153.04K	-2.55M	-81.28K	-118.8K	-340.68K	2.59M	-36.16M	-16.88M	-6.51M
Capital Expenditures	-352.76K	-153.04K	-2.55M	-81.28K	-118.8K	-340.68K	-161.23K	-298.37K	-657.79K	-6.51M
CapEx % of Revenue	0.01%	0.01%	0.18%	0%	0.01%	0.01%	0.01%	0.01%	0.01%	0.08%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	1.11K	0	0	0	0	0	0	0	-2.02M	0
Cash from Financing+	-724.78K	0	0	0	-705.33K	-19.77M	301.15K	19.91M	8.53M	-4.64M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	-11.18M	-19.79M	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	0	0	0	0	10.3M	0	0	0	0	-4.64M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	3.21M	5.91M	-4.29M	2.03M	2.07M	4.25M	5.93M	1.8M	5.14M	6.79M
FCF Margin %	0.11%	0.35%	-0.31%	0.12%	0.1%	0.18%	0.21%	0.05%	0.11%	0.08%
FCF Growth %	1.65%	0.84%	-1.73%	1.47%	0.02%	1.05%	0.4%	-0.7%	1.86%	0.32%
FCF per Share	0.19	0.35	-0.26	0.12	0.12	0.25	0.34	0.10	0.29	0.38
FCF Conversion (FCF/Net Income)	1.79x	1.33x	0.48x	1.14x	0.67x	0.91x	1.10x	0.35x	0.83x	0.85x
Interest Paid	0	0	0	0	0	0	0	260.89K	847.09K	0
Taxes Paid	175K	400K	8.46K	456	2.46K	1.09K	531.48K	1.86M	1.91M	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	6.19%	12.97%	-10.18%	5.26%	10.22%	19.35%	19.96%	17.37%	16.41%	28.1%
Return on Invested Capital (ROIC)	12.58%	-0.43%	-20.86%	5.87%	23.11%	28.7%	36.21%	16.89%	11.18%	18.8%
Gross Margin	58.95%	48.36%	47.21%	56.32%	54.65%	55.46%	60.11%	61.22%	54.9%	48.06%
Net Margin	7.1%	27.22%	-26.38%	10.53%	15.14%	21.98%	19.91%	17.32%	14.83%	18.54%
Debt / Equity	-	-	-	-	0.00x	0.00x	0.00x	0.52x	0.60x	0.37x
Interest Coverage	-	-	-	-	-	-	-	19.75x	10.31x	11.63x
FCF Conversion	1.79x	1.33x	0.48x	1.14x	0.67x	0.91x	1.10x	0.35x	0.83x	0.85x
Revenue Growth	39.38%	-39.98%	-17.49%	26.87%	22.89%	6.71%	20.38%	25.48%	35.59%	78.6%

Revenue by Segment

	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Product	-	-	-	16.17M	20.81M	22.76M	27.28M	22.59M	24.28M	54.08M
Product Growth	-	-	-	-	28.71%	9.39%	19.86%	-17.19%	7.48%	122.74%
Service	-	-	-	-	-	-	-	11.09M	22.92M	30.22M
Service Growth	-	-	-	-	-	-	-	-	106.73%	31.85%
Engineering Development Contracts	-	-	-	1.41M	789.08K	-	460.94K	1.13M	-	-
Engineering Development Contracts Growth	-	-	-	-	-43.93%	-	-	145.75%	-	-
Engineering development contracts	-	-	-	-	-	284.71K	-	-	-	-
Engineering development contracts Growth	-	-	-	-	-	-	-	-	-	-

Revenue by Geography

	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Foreign Countries	-	-	-	-	-	8.4M	11.1M	15.5M	22.8M	16.4M
Foreign Countries Growth	-	-	-	-	-	-	32.14%	39.64%	47.10%	-28.07%
Non Us	8.2M	2.6M	4.7M	7.5M	9.4M	-	-	-	-	-
Non Us Growth	-	-68.29%	80.77%	59.57%	25.33%	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

Innovative Solutions and Support, Inc. (ISSC) has a price-to-earnings (P/E) ratio of 21.9x. This is roughly in line with market averages.

Growth & Financials

Innovative Solutions and Support, Inc. (ISSC) reported $77.4M in revenue for fiscal year 2025. This represents a 215% increase from $24.6M in 2012.

Innovative Solutions and Support, Inc. (ISSC) grew revenue by 78.6% over the past year. This is strong growth.

Yes, Innovative Solutions and Support, Inc. (ISSC) is profitable, generating $11.7M in net income for fiscal year 2025 (18.5% net margin).

Dividend & Returns

Innovative Solutions and Support, Inc. (ISSC) has a return on equity (ROE) of 28.1%. This is excellent, indicating efficient use of shareholder capital.

Innovative Solutions and Support, Inc. (ISSC) generated $5.1M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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Innovative Solutions and Support, Inc. (ISSC) 10-Year Financial Performance & Capital Metrics

ISSC • • Industrial / General

IndustrialsAerospace & DefenseAerospace Components & SubsystemsAvionics & Flight Systems

Revenue $84M +78.6%
EBITDA $24M +102.4%
Net Income $16M +123.3%
EPS (Diluted) 0.88 +120.0%
Gross Margin 48.06% -12.5%
EBITDA Margin 28.24% +13.3%
Operating Margin 23.81% +16.3%
Net Margin 18.54% +25.0%
ROE 28.1% +71.2%
ROIC 18.8% +68.1%
Debt/Equity 0.37 -37.8%
Interest Coverage 11.63 +12.9%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 20.6%
✓Strong 5Y profit CAGR of 36.7%
✓Momentum leader: RS Rating 95 (top 5%)
✓Strong 5Y sales CAGR of 31.3%
✓Healthy 5Y average net margin of 18.5%

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y15.43%

5Y31.31%

3Y44.84%

TTM72.82%

Profit (Net Income) CAGR

10Y-

5Y36.73%

3Y41.43%

TTM81.26%

EPS CAGR

10Y-

5Y35.88%

3Y40.1%

TTM79.62%

ROCE

10Y Avg10.59%

5Y Avg19.47%

3Y Avg18.93%

Latest24.61%

Peer Comparison

Avionics & Flight Systems

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
CWCurtiss-Wright Corporation	23.44B	635.74	60.26	9.69%	13.78%	18.39%	2.06%	0.50
RTXRTX Corporation	260.22B	194.08	54.67	17.15%	7.67%	9.93%	1.74%	0.69
TATTTAT Technologies Ltd.	675.51M	52.16	52.16	33.68%	9.08%	9.18%		0.18
WWDWoodward, Inc.	19.8B	330.09	45.91	7.3%	12.39%	17.23%	1.72%	0.10
TDGTransDigm Group Incorporated	77.83B	1381.98	38.78	11.22%	22.52%		2.33%
MOG-AMoog Inc.	7.98B	276.61	37.74	6.97%	6.08%	11.8%	1.61%	0.56
ISSCInnovative Solutions and Support, Inc.	341.73M	19.25	21.88	78.6%	15.11%	20.6%	1.99%	0.37
RALRalliant Corp.	5.89B	52.25	19.50	-0.05%	14.06%	10.06%	7.13%	0.02

Profit & Loss

	Sep 2016	Sep 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024	Sep 2025
Sales/Revenue+	27.97M	16.79M	13.85M	17.57M	21.6M	23.04M	27.74M	34.81M	47.2M	84.3M
Revenue Growth %	0.39%	-0.4%	-0.17%	0.27%	0.23%	0.07%	0.2%	0.25%	0.36%	0.79%
Cost of Goods Sold+	11.48M	8.67M	7.31M	7.68M	9.79M	10.26M	11.07M	13.5M	21.28M	43.79M
COGS % of Revenue	0.41%	0.52%	0.53%	0.44%	0.45%	0.45%	0.4%	0.39%	0.45%	0.52%
Gross Profit+	16.49M	8.12M	6.54M	9.9M	11.8M	12.78M	16.67M	21.31M	25.91M	40.51M
Gross Margin %	0.59%	0.48%	0.47%	0.56%	0.55%	0.55%	0.6%	0.61%	0.55%	0.48%
Gross Profit Growth %	1.23%	-0.51%	-0.19%	0.51%	0.19%	0.08%	0.3%	0.28%	0.22%	0.56%
Operating Expenses+	14.04M	8.2M	10.25M	8.37M	9.06M	8.88M	9.46M	13.54M	16.25M	20.44M
OpEx % of Revenue	0.5%	0.49%	0.74%	0.48%	0.42%	0.39%	0.34%	0.39%	0.34%	0.24%
Selling, General & Admin	9.17M	3.74M	6.67M	5.88M	6.1M	6.26M	6.75M	10.41M	12.11M	16.45M
SG&A % of Revenue	0.33%	0.22%	0.48%	0.33%	0.28%	0.27%	0.24%	0.3%	0.26%	0.2%
Research & Development	4.87M	4.46M	3.58M	2.49M	2.96M	2.62M	2.71M	3.13M	4.14M	3.99M
R&D % of Revenue	0.17%	0.27%	0.26%	0.14%	0.14%	0.11%	0.1%	0.09%	0.09%	0.05%
Other Operating Expenses	78.44K	0	67.72K	73.74K	0	0	0	0	0	0
Operating Income+	2.44M	-77.56K	-3.71M	1.08M	2.75M	3.9M	7.22M	7.77M	9.66M	20.07M
Operating Margin %	0.09%	-0%	-0.27%	0.06%	0.13%	0.17%	0.26%	0.22%	0.2%	0.24%
Operating Income Growth %	2.1%	-1.03%	-46.85%	1.29%	1.55%	0.42%	0.85%	0.08%	0.24%	1.08%
EBITDA+	2.94M	371.62K	-3.28M	1.53M	3.18M	4.33M	7.58M	8.47M	11.76M	23.81M
EBITDA Margin %	0.1%	0.02%	-0.24%	0.09%	0.15%	0.19%	0.27%	0.24%	0.25%	0.28%
EBITDA Growth %	2.78%	-0.87%	-9.81%	1.47%	1.08%	0.36%	0.75%	0.12%	0.39%	1.02%
D&A (Non-Cash Add-back)	493.36K	449.19K	436.21K	451.28K	433.51K	432.18K	368.5K	697.94K	2.1M	3.73M
EBIT	2.44M	-77.56K	-3.71M	1.53M	2.75M	3.9M	7.34M	8.03M	9.79M	21.68M
Net Interest Income+	33.5K	35.89K	53.56K	249.62K	154.95K	1.23K	61.05K	124.91K	-809.98K	-1.71M
Interest Income	33.5K	35.89K	53.56K	249.62K	154.95K	1.23K	61.05K	518.19K	127.33K	18.94K
Interest Expense	0	0	0	0	0	0	0	393.28K	937.31K	1.73M
Other Income/Expense	111.94K	4.89M	121.28K	323.36K	215.45K	76.14K	126.28K	276.22K	-809.98K	-120.53K
Pretax Income+	2.56M	4.82M	-3.59M	1.85M	2.96M	3.98M	7.34M	7.64M	8.85M	19.95M
Pretax Margin %	0.09%	0.29%	-0.26%	0.11%	0.14%	0.17%	0.26%	0.22%	0.19%	0.24%
Income Tax+	568.33K	247.92K	63.65K	1.8K	-308.88K	-1.09M	1.82M	1.61M	1.85M	4.32M
Effective Tax Rate %	0.78%	0.95%	1.02%	1%	1.1%	1.27%	0.75%	0.79%	0.79%	0.78%
Net Income+	1.99M	4.57M	-3.65M	1.85M	3.27M	5.06M	5.52M	6.03M	7M	15.63M
Net Margin %	0.07%	0.27%	-0.26%	0.11%	0.15%	0.22%	0.2%	0.17%	0.15%	0.19%
Net Income Growth %	1.42%	1.3%	-1.8%	1.51%	0.77%	0.55%	0.09%	0.09%	0.16%	1.23%
Net Income (Continuing)	1.99M	4.57M	-3.65M	1.85M	3.27M	5.06M	5.52M	6.03M	7M	15.63M
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)+	0.12	0.27	-0.22	0.11	0.19	0.29	0.32	0.35	0.40	0.88
EPS Growth %	1.43%	1.25%	-1.81%	1.5%	0.73%	0.53%	0.1%	0.09%	0.14%	1.2%
EPS (Basic)	0.12	0.27	-0.22	0.11	0.19	0.29	0.32	0.35	0.40	0.89
Diluted Shares Outstanding	17.04M	16.86M	16.81M	16.94M	17.11M	17.23M	17.26M	17.42M	17.48M	17.83M
Basic Shares Outstanding	16.93M	16.74M	16.61M	16.87M	16.94M	17.23M	17.26M	17.41M	17.46M	17.57M
Dividend Payout Ratio	-	-	-	-	3.42%	3.91%	-	-	-	-

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+	29.37M	34.18M	28.66M	29.96M	33.12M	17.69M	28.2M	34.67M	34.69M	50.73M
Cash & Short-Term Investments	18.77M	24.68M	20.39M	22.42M	23.78M	8.27M	17.25M	3.1M	538.98K	2.69M
Cash Only	18.77M	24.68M	20.39M	22.42M	23.78M	8.27M	17.25M	3.1M	538.98K	2.69M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	6.22M	4.49M	3.45M	2.43M	4.37M	4.05M	4.46M	10.23M	14.29M	18.28M
Days Sales Outstanding	81.11	97.63	90.96	50.45	73.85	64.09	58.69	107.28	110.53	79.14
Inventory	3.65M	4.18M	4.28M	4.47M	4.29M	4.55M	5.35M	18.21M	18.69M	28.36M
Days Inventory Outstanding	115.89	175.99	213.66	212.58	159.94	161.65	176.43	492.41	320.56	236.45
Other Current Assets	354.06K	429.25K	284.64K	339.67K	338.78K	514.94K	365.16K	2.51M	1.11M	1.39M
Total Non-Current Assets+	7.12M	6.93M	9.19M	8.81M	8.63M	9.4M	7.16M	28.28M	48.98M	52.63M
Property, Plant & Equipment	6.96M	6.67M	8.79M	8.44M	8.22M	8.19M	6.32M	7.91M	13.37M	18.8M
Fixed Asset Turnover	4.02x	2.52x	1.58x	2.08x	2.63x	2.81x	4.39x	4.40x	3.53x	4.48x
Goodwill	0	0	0	0	0	0	0	3.56M	5.21M	6.7M
Intangible Assets	71.2K	68.6K	68.6K	49.2K	112.85K	62.47K	60.35K	16.19M	27.01M	23.58M
Long-Term Investments	0	0	0	0	0	0	0	0	0	0
Other Non-Current Assets	85.75K	118.72K	113.39K	104.84K	91.57K	82.83K	75.3K	176.66K	471.62K	718.47K
Total Assets+	36.49M	41.11M	37.85M	38.77M	41.75M	27.09M	35.36M	62.96M	83.67M	103.36M
Asset Turnover	0.77x	0.41x	0.37x	0.45x	0.52x	0.85x	0.78x	0.55x	0.56x	0.82x
Asset Growth %	-0%	0.13%	-0.08%	0.02%	0.08%	-0.35%	0.31%	0.78%	0.33%	0.24%
Total Current Liabilities+	3.57M	3.36M	3.35M	2.22M	13.65M	2.47M	3.94M	6.4M	7.27M	16.66M
Accounts Payable	1.5M	1.32M	1.53M	1.08M	790.89K	623.62K	708.85K	1.34M	2.32M	3.58M
Days Payables Outstanding	47.8	55.63	76.36	51.31	29.48	22.18	23.38	36.16	39.71	29.83
Short-Term Debt	0	0	0	0	45.13K	14.3K	13.62K	2.01M	2.1K	2.44M
Deferred Revenue (Current)	179.59K	280.35K	356.8K	29.23K	313.37K	417.5K	259.18K	143.36K	340.48K	1000K
Other Current Liabilities	1.62M	1.5M	1.32M	898.6K	12.01M	1.03M	1.93M	1.72M	1.73M	8.16M
Current Ratio	8.22x	10.17x	8.56x	13.50x	2.43x	7.16x	7.16x	5.42x	4.77x	3.04x
Quick Ratio	7.20x	8.92x	7.28x	11.48x	2.11x	5.32x	5.80x	2.57x	2.20x	1.34x
Cash Conversion Cycle	149.21	217.99	228.25	211.72	204.31	203.56	211.73	563.52	391.38	285.76
Total Non-Current Liabilities+	67.7K	137.91K	346.09K	341.04K	335.8K	28.68K	667.16K	17.92M	29.77M	22.1M
Long-Term Debt	0	0	0	0	0	0	0	17.5M	28.03M	21.7M
Capital Lease Obligations	0	0	0	0	0	28.68K	15.06K	421.51K	0	0
Deferred Tax Liabilities	67.7K	137.91K	346.09K	341.04K	335.8K	0	652.09K	0	1.29M	0
Other Non-Current Liabilities	0	0	0	0	0	0	0	0	451.35K	396.5K
Total Liabilities	3.64M	3.5M	3.7M	2.56M	13.98M	2.5M	4.61M	24.32M	37.03M	38.76M
Total Debt+	0	0	0	0	45.13K	42.98K	28.68K	19.93M	28.03M	24.14M
Net Debt	-18.77M	-24.68M	-20.39M	-22.42M	-23.74M	-8.22M	-17.22M	16.84M	27.49M	21.45M
Debt / Equity	-	-	-	-	0.00x	0.00x	0.00x	0.52x	0.60x	0.37x
Debt / EBITDA	-	-	-	-	0.01x	0.01x	0.00x	2.35x	2.38x	1.01x
Net Debt / EBITDA	-6.39x	-66.41x	-	-14.66x	-7.47x	-1.90x	-2.27x	1.99x	2.34x	0.90x
Interest Coverage	-	-	-	-	-	-	-	19.75x	10.31x	11.63x
Total Equity+	32.85M	37.61M	34.15M	36.21M	27.77M	24.59M	30.75M	38.64M	46.64M	64.6M
Equity Growth %	0.05%	0.14%	-0.09%	0.06%	-0.23%	-0.11%	0.25%	0.26%	0.21%	0.39%
Book Value per Share	1.93	2.23	2.03	2.14	1.62	1.43	1.78	2.22	2.67	3.62
Total Shareholders' Equity	32.85M	37.61M	34.15M	36.21M	27.77M	24.59M	30.75M	38.64M	46.64M	64.6M
Common Stock	18.81K	18.88K	18.94K	19.01K	19.31K	19.34K	19.41K	19.54K	19.6K	0
Retained Earnings	2.81M	7.37M	3.72M	5.57M	-2.34M	-5.88M	-359.04K	5.67M	12.67M	0
Treasury Stock	-21.37M	-21.37M	-21.37M	-21.37M	-21.37M	-21.37M	-21.37M	-21.37M	-21.37M	0
Accumulated OCI	0	0	0	0	0	0	0	0	0	0
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+	3.56M	6.07M	-1.74M	2.11M	2.19M	4.59M	6.09M	2.1M	5.8M	13.3M
Operating CF Margin %	0.13%	0.36%	-0.13%	0.12%	0.1%	0.2%	0.22%	0.06%	0.12%	0.16%
Operating CF Growth %	1.54%	0.7%	-1.29%	2.21%	0.04%	1.09%	0.33%	-0.66%	1.77%	1.3%
Net Income	1.99M	4.57M	-3.65M	1.85M	3.27M	5.06M	5.52M	6.03M	7M	15.63M
Depreciation & Amortization	493.36K	449.19K	436.21K	451.28K	433.51K	432.18K	368.5K	697.94K	2.1M	3.73M
Stock-Based Compensation	251.39K	191.75K	200K	173.49K	177.34K	341.33K	339.94K	1.45M	1M	2.34M
Deferred Taxes	486.12K	41	61.85K	57	38	-1.19M	1.02M	9.5K	-1.14M	-1.25M
Other Non-Cash Items	3.6K	92.83K	184.8K	98.73K	66.51K	-100.45K	-1.19M	88.71K	-160.58K	-7.14M
Working Capital Changes	340.77K	763.24K	1.21M	-466.45K	-1.76M	48.05K	36.63K	-6.18M	-3.01M	0
Change in Receivables	-2.12M	1.76M	225.34K	1.1M	-2.02M	322.77K	-251.12K	-5.45M	-4.06M	-343.99K
Change in Inventory	951.49K	-626.65K	-100.45K	-289.31K	112.85K	-153.61K	-708.86K	-834.92K	-2.34M	-9.67M
Change in Payables	67.79K	-182.52K	208.54K	-450.72K	-288.18K	-167.27K	85.22K	628.43K	978.2K	1.26M
Cash from Investing+	-351.65K	-153.04K	-2.55M	-81.28K	-118.8K	-340.68K	2.59M	-36.16M	-16.88M	-6.51M
Capital Expenditures	-352.76K	-153.04K	-2.55M	-81.28K	-118.8K	-340.68K	-161.23K	-298.37K	-657.79K	-6.51M
CapEx % of Revenue	0.01%	0.01%	0.18%	0%	0.01%	0.01%	0.01%	0.01%	0.01%	0.08%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	1.11K	0	0	0	0	0	0	0	-2.02M	0
Cash from Financing+	-724.78K	0	0	0	-705.33K	-19.77M	301.15K	19.91M	8.53M	-4.64M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	-11.18M	-19.79M	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	0	0	0	0	10.3M	0	0	0	0	-4.64M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	3.21M	5.91M	-4.29M	2.03M	2.07M	4.25M	5.93M	1.8M	5.14M	6.79M
FCF Margin %	0.11%	0.35%	-0.31%	0.12%	0.1%	0.18%	0.21%	0.05%	0.11%	0.08%
FCF Growth %	1.65%	0.84%	-1.73%	1.47%	0.02%	1.05%	0.4%	-0.7%	1.86%	0.32%
FCF per Share	0.19	0.35	-0.26	0.12	0.12	0.25	0.34	0.10	0.29	0.38
FCF Conversion (FCF/Net Income)	1.79x	1.33x	0.48x	1.14x	0.67x	0.91x	1.10x	0.35x	0.83x	0.85x
Interest Paid	0	0	0	0	0	0	0	260.89K	847.09K	0
Taxes Paid	175K	400K	8.46K	456	2.46K	1.09K	531.48K	1.86M	1.91M	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	6.19%	12.97%	-10.18%	5.26%	10.22%	19.35%	19.96%	17.37%	16.41%	28.1%
Return on Invested Capital (ROIC)	12.58%	-0.43%	-20.86%	5.87%	23.11%	28.7%	36.21%	16.89%	11.18%	18.8%
Gross Margin	58.95%	48.36%	47.21%	56.32%	54.65%	55.46%	60.11%	61.22%	54.9%	48.06%
Net Margin	7.1%	27.22%	-26.38%	10.53%	15.14%	21.98%	19.91%	17.32%	14.83%	18.54%
Debt / Equity	-	-	-	-	0.00x	0.00x	0.00x	0.52x	0.60x	0.37x
Interest Coverage	-	-	-	-	-	-	-	19.75x	10.31x	11.63x
FCF Conversion	1.79x	1.33x	0.48x	1.14x	0.67x	0.91x	1.10x	0.35x	0.83x	0.85x
Revenue Growth	39.38%	-39.98%	-17.49%	26.87%	22.89%	6.71%	20.38%	25.48%	35.59%	78.6%

Revenue by Segment

	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Product	-	-	-	16.17M	20.81M	22.76M	27.28M	22.59M	24.28M	54.08M
Product Growth	-	-	-	-	28.71%	9.39%	19.86%	-17.19%	7.48%	122.74%
Service	-	-	-	-	-	-	-	11.09M	22.92M	30.22M
Service Growth	-	-	-	-	-	-	-	-	106.73%	31.85%
Engineering Development Contracts	-	-	-	1.41M	789.08K	-	460.94K	1.13M	-	-
Engineering Development Contracts Growth	-	-	-	-	-43.93%	-	-	145.75%	-	-
Engineering development contracts	-	-	-	-	-	284.71K	-	-	-	-
Engineering development contracts Growth	-	-	-	-	-	-	-	-	-	-

Revenue by Geography

	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Foreign Countries	-	-	-	-	-	8.4M	11.1M	15.5M	22.8M	16.4M
Foreign Countries Growth	-	-	-	-	-	-	32.14%	39.64%	47.10%	-28.07%
Non Us	8.2M	2.6M	4.7M	7.5M	9.4M	-	-	-	-	-
Non Us Growth	-	-68.29%	80.77%	59.57%	25.33%	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

Innovative Solutions and Support, Inc. (ISSC) has a price-to-earnings (P/E) ratio of 21.9x. This is roughly in line with market averages.

Growth & Financials

Innovative Solutions and Support, Inc. (ISSC) reported $77.4M in revenue for fiscal year 2025. This represents a 215% increase from $24.6M in 2012.

Innovative Solutions and Support, Inc. (ISSC) grew revenue by 78.6% over the past year. This is strong growth.

Yes, Innovative Solutions and Support, Inc. (ISSC) is profitable, generating $11.7M in net income for fiscal year 2025 (18.5% net margin).

Dividend & Returns

Innovative Solutions and Support, Inc. (ISSC) has a return on equity (ROE) of 28.1%. This is excellent, indicating efficient use of shareholder capital.

Innovative Solutions and Support, Inc. (ISSC) generated $5.1M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.