Revenue has experienced a sustained contraction, declining 20% year-over-year to $89.6 million in 2026Q3, while gross margins remain volatile, fluctuating between 0.6% and 8.4% over the last ten quarters.
| Metric | TTM | Jun'25 | Jun'24 | Jul'23 | Jul'22 | Jul'21 | Jun'20 | Jun'19 | Jun'18 | Jun'17 | Jun'16 | Jun'15 | Jun'14 | Jun'13 | Jun'12 | Jun'11 | Jun'10 | Jun'09 | Jun'08 | Jun'07 | Jun'06 | Jun'05 | Jun'04 | Jun'03 | Jun'02 | Jun'01 | Jun'00 | Jun'99 | Jun'98 | Jun'97 | Jun'96 |
|---|
| Sales/Revenue | 395.13M | 467.87M | 566.94M | 605.32M | 531.82M | 518.7M | 449.48M | 464.04M | 446.32M | 467.8M | 484.96M | 434M | 305.39M | 361.03M | 346.48M | 253.85M | 199.62M | 184.92M | 204.12M | 201.71M | 187.7M | 202.88M | 148.9M | 130.89M | 175.59M | 165.87M | 164.35M | 178.3M | 170.1M | 184.9M | 201M |
| Revenue Growth % | -19.46% | -17.47% | -6.34% | 13.82% | 2.53% | 15.4% | -3.14% | 3.97% | -4.59% | -3.54% | 11.74% | 42.11% | -15.41% | 4.2% | 36.49% | 27.16% | 7.95% | -9.41% | 1.19% | 7.47% | -7.48% | 36.25% | 13.76% | -25.46% | 5.86% | 0.92% | -7.82% | 4.82% | -8% | -8.01% | -3.13% |
| Cost of Goods Sold | 372.32M | 431.44M | 526.99M | 557.76M | 488.6M | 476.66M | 414.23M | 429.44M | 412.15M | 429.5M | 446.14M | 400.69M | 278.54M | 326.52M | 316.64M | 233.2M | 180.37M | 171.74M | 187.3M | 184.04M | 170.4M | 186.42M | 135.66M | 115.94M | 160.61M | 158.31M | 143.56M | 143.4M | 137.9M | 149.7M | 164.1M |
| COGS % of Revenue | - | 92.21% | 92.95% | 92.14% | 91.87% | 91.9% | 92.16% | 92.54% | 92.34% | 91.81% | 91.99% | 92.33% | 91.21% | 90.44% | 91.39% | 91.87% | 90.36% | 92.87% | 91.76% | 91.24% | 90.78% | 91.89% | 91.11% | 88.57% | 91.47% | 95.44% | 87.35% | 80.43% | 81.07% | 80.96% | 81.64% |
| Gross Profit | 22.81M | 36.43M | 39.95M | 47.55M | 43.21M | 42.04M | 35.25M | 34.6M | 34.17M | 38.3M | 38.83M | 33.3M | 26.85M | 34.51M | 29.84M | 20.65M | 19.25M | 13.18M | 16.82M | 17.67M | 17.3M | 16.46M | 13.24M | 14.96M | 14.98M | 7.56M | 20.79M | 34.9M | 32.2M | 35.2M | 36.9M |
| Gross Margin % | 5.77% | 7.79% | 7.05% | 7.86% | 8.13% | 8.1% | 7.84% | 7.46% | 7.66% | 8.19% | 8.01% | 7.67% | 8.79% | 9.56% | 8.61% | 8.13% | 9.64% | 7.13% | 8.24% | 8.76% | 9.22% | 8.11% | 8.89% | 11.43% | 8.53% | 4.56% | 12.65% | 19.57% | 18.93% | 19.04% | 18.36% |
| Gross Profit Growth % | - | -8.82% | -15.98% | 10.04% | 2.79% | 19.26% | 1.87% | 1.26% | -10.79% | -1.35% | 16.57% | 24.02% | -22.19% | 15.67% | 44.5% | 7.26% | 46.05% | -21.64% | -4.81% | 2.12% | 5.13% | 24.35% | -11.51% | -0.18% | 98.32% | -63.65% | -40.44% | 8.39% | -8.52% | -4.61% | -9.34% |
| Operating Expenses | 36.83M | 35.87M | 33.55M | 35.45M | 34.42M | 32.51M | 28.42M | 40.56M | 33.05M | 28.76M | 28.41M | 26.65M | 17.55M | 16.39M | 15.48M | 13.71M | 11.86M | 10.63M | 9.99M | 10.86M | 11.44M | 11.02M | 11.45M | 12.35M | 13.76M | 17.04M | 24.25M | 29.8M | 31M | 32.3M | 34.1M |
| OpEx % of Revenue | - | 7.67% | 5.92% | 5.86% | 6.47% | 6.27% | 6.32% | 8.74% | 7.41% | 6.15% | 5.86% | 6.14% | 5.75% | 4.54% | 4.47% | 5.4% | 5.94% | 5.75% | 4.89% | 5.38% | 6.1% | 5.43% | 7.69% | 9.43% | 7.84% | 10.27% | 14.75% | 16.71% | 18.22% | 17.47% | 16.97% |
| Selling, General & Admin | 28.83M | 26.7M | 25.22M | 25.71M | 24.6M | 22.72M | 21.03M | 21.56M | 22.33M | 22.36M | 22.01M | 20.09M | 11.96M | 11.73M | 11.04M | 9.93M | 9.08M | 8.37M | 8.26M | 9.16M | 8.68M | 9.2M | 8.87M | 9.43M | 11.21M | 14.32M | 15.07M | 18M | 16.8M | 18.2M | 18.1M |
| SG&A % of Revenue | - | 5.71% | 4.45% | 4.25% | 4.63% | 4.38% | 4.68% | 4.65% | 5% | 4.78% | 4.54% | 4.63% | 3.92% | 3.25% | 3.19% | 3.91% | 4.55% | 4.52% | 4.05% | 4.54% | 4.63% | 4.53% | 5.95% | 7.21% | 6.38% | 8.64% | 9.17% | 10.1% | 9.88% | 9.84% | 9.01% |
| Research & Development | 7.99M | 9.16M | 8.33M | 9.73M | 9.82M | 9.79M | 7.39M | 6.55M | 6.19M | 6.39M | 6.4M | 5.78M | 5.59M | 5.16M | 4.44M | 3.78M | 2.78M | 2.27M | 2.68M | 3.16M | 2.76M | 2.88M | 2.58M | 2.91M | 2.55M | 2.72M | 2.85M | 4.9M | 4.6M | 5.2M | 6M |
| R&D % of Revenue | - | 1.96% | 1.47% | 1.61% | 1.85% | 1.89% | 1.64% | 1.41% | 1.39% | 1.37% | 1.32% | 1.33% | 1.83% | 1.43% | 1.28% | 1.49% | 1.39% | 1.23% | 1.31% | 1.57% | 1.47% | 1.42% | 1.73% | 2.23% | 1.45% | 1.64% | 1.73% | 2.75% | 2.7% | 2.81% | 2.99% |
| Other Operating Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 12.45M | 4.54M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -951K | -1.47M | 0 | -1.06M | 0 | 0 | 0 | 0 | 6.33M | 6.9M | 9.6M | 8.9M | 10M |
| Operating Income | -14.02M | 562K | 6.4M | 12.1M | 8.79M | 9.53M | 6.83M | 6.49M | 5.65M | 9.54M | 10.42M | 7.43M | 9.3M | 17.63M | 14.35M | 6.94M | 7.39M | 1.78M | 6.83M | 6.81M | 5.86M | 5.45M | 1.79M | 2.61M | 1.22M | -9.48M | -3.46M | 5.1M | 1.2M | 2.9M | 2.8M |
| Operating Margin % | -3.55% | 0.12% | 1.13% | 2% | 1.65% | 1.84% | 1.52% | 1.4% | 1.27% | 2.04% | 2.15% | 1.71% | 3.05% | 4.88% | 4.14% | 2.73% | 3.7% | 0.96% | 3.35% | 3.38% | 3.12% | 2.68% | 1.2% | 2% | 0.7% | -5.72% | -2.11% | 2.86% | 0.71% | 1.57% | 1.39% |
| Operating Income Growth % | - | -91.22% | -47.12% | 37.59% | -7.67% | 39.51% | 5.21% | 14.89% | -40.81% | -8.37% | 40.23% | -20.16% | -47.21% | 22.82% | 106.82% | -6.08% | 314.36% | -73.91% | 0.35% | 16.19% | 7.64% | 204.36% | -31.51% | 113.4% | 112.91% | -174.1% | -167.84% | 325% | -58.62% | 3.57% | -71.72% |
| EBITDA | -5.24M | 10.16M | 17.44M | 21.64M | 16.36M | 16.38M | 12.42M | 13.79M | 13.42M | 16.78M | 16.58M | 13.34M | 13.13M | 20.59M | 16.68M | 9.15M | 9.18M | 3.38M | 8.6M | 8.62M | 7.75M | 7.81M | 4.75M | 5.55M | 5.62M | -3.6M | 2.87M | 12M | 10.8M | 11.8M | 12.8M |
| EBITDA Margin % | -1.32% | 2.17% | 3.08% | 3.58% | 3.08% | 3.16% | 2.76% | 2.97% | 3.01% | 3.59% | 3.42% | 3.07% | 4.3% | 5.7% | 4.82% | 3.6% | 4.6% | 1.83% | 4.21% | 4.28% | 4.13% | 3.85% | 3.19% | 4.24% | 3.2% | -2.17% | 1.75% | 6.73% | 6.35% | 6.38% | 6.37% |
| EBITDA Growth % | -138.16% | -41.73% | -19.43% | 32.32% | -0.15% | 31.91% | -9.93% | 2.72% | -19.99% | 1.19% | 24.29% | 1.56% | -36.22% | 23.42% | 82.32% | -0.34% | 171.82% | -60.73% | -0.26% | 11.26% | -0.77% | 64.58% | -14.49% | -1.26% | 256.23% | -225.37% | -76.08% | 11.11% | -8.47% | -7.81% | -31.91% |
| D&A (Non-Cash Add-back) | 8.78M | 9.6M | 11.04M | 9.54M | 7.56M | 6.86M | 5.59M | 7.3M | 7.77M | 7.23M | 6.16M | 5.91M | 3.83M | 2.96M | 2.33M | 2.21M | 1.79M | 1.59M | 1.77M | 1.81M | 1.89M | 2.37M | 2.96M | 2.94M | 4.4M | 5.89M | 6.33M | 6.9M | 9.6M | 8.9M | 10M |
| EBIT | -13.38M | 562K | 6.86M | 16.57M | 8.79M | 9.53M | 6.83M | -5.96M | 1.11M | 9.54M | 10.42M | 7.43M | 9.3M | 18.13M | 14.35M | 6.94M | 7.39M | 1.78M | 6.83M | 6.81M | 5.86M | 5.45M | 1.79M | 2.61M | 1.22M | -9.48M | -3.46M | 5.1M | 1.2M | 2.9M | 2.8M |
| Net Interest Income | -10.32M | -12.52M | -11.95M | -10.02M | -5.1M | -3.61M | -2.51M | -2.78M | -2.56M | -2.29M | -2.27M | -1.35M | -81K | -271K | -510K | -457K | -102K | -590K | -989K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 10.32M | 12.52M | 11.95M | 10.02M | 5.1M | 3.61M | 2.51M | 2.78M | 2.56M | 2.29M | 2.27M | 1.35M | 81K | 271K | 510K | 457K | 102K | 590K | 989K | 0 | 1.11M | 70K | 1.07M | 0 | 21.17M | 1.25M | 1.71M | 400K | 1.7M | 600K | 3.4M |
| Other Income/Expense | -9.68M | -12.52M | -11.59M | -5.8M | -5.1M | -3.61M | -2.51M | -2.78M | -2.56M | -2.29M | -2.27M | -1.35M | -81K | 229K | -510K | -457K | -102K | -590K | -989K | -1.37M | -1.11M | -1.14M | -1.07M | 11.4M | -21.17M | -1.25M | -1.71M | -400K | -1.9M | -1.4M | -3.4M |
| Pretax Income | -23.7M | -11.96M | -5.19M | 6.3M | 3.69M | 5.91M | 4.32M | -8.74M | 3.09M | 7.26M | 8.15M | 5.3M | 9.22M | 17.86M | 13.84M | 6.48M | 7.29M | 1.19M | 5.84M | 5.44M | 4.75M | 4.3M | 721K | 14.01M | -19.95M | -10.73M | -5.17M | 4.7M | -700K | 1.5M | -600K |
| Pretax Margin % | -6% | -2.56% | -0.91% | 1.04% | 0.69% | 1.14% | 0.96% | -1.88% | 0.69% | 1.55% | 1.68% | 1.22% | 3.02% | 4.95% | 3.99% | 2.55% | 3.65% | 0.65% | 2.86% | 2.69% | 2.53% | 2.12% | 0.48% | 10.7% | -11.36% | -6.47% | -3.15% | 2.64% | -0.41% | 0.81% | -0.3% |
| Income Tax | -6.33M | -3.64M | -2.4M | 1.14M | 314K | 1.57M | -439K | -758K | 117K | 1.64M | 1.62M | 996K | 1.61M | 5.27M | 2.21M | 746K | -1.4M | 130K | 261K | 206K | -5M | -75K | 611K | 600K | 5.42M | 643K | 164K | 1.7M | 200K | 900K | 1.2M |
| Effective Tax Rate % | 26.69% | 30.46% | 46.27% | 18.14% | 8.51% | 26.59% | -10.16% | 8.67% | 3.78% | 22.59% | 19.85% | 18.79% | 17.46% | 29.53% | 16% | 11.51% | -19.27% | 10.9% | 4.47% | 3.79% | -105.2% | -1.74% | 84.74% | 4.28% | -27.15% | -5.99% | -3.17% | 36.17% | -28.57% | 60% | -200% |
| Net Income | -17.37M | -8.32M | -2.79M | 5.16M | 3.38M | 4.34M | 4.76M | -7.98M | -1.32M | 5.62M | 6.53M | 4.3M | 7.61M | 12.58M | 11.63M | 5.74M | 8.69M | 1.06M | 5.58M | 5.23M | 9.75M | 4.38M | 110K | 13.41M | -25.36M | -11.37M | -5.33M | 3M | -900K | 400K | -1.8M |
| Net Margin % | -4.4% | -1.78% | -0.49% | 0.85% | 0.64% | 0.84% | 1.06% | -1.72% | -0.3% | 1.2% | 1.35% | 0.99% | 2.49% | 3.49% | 3.36% | 2.26% | 4.35% | 0.57% | 2.74% | 2.59% | 5.2% | 2.16% | 0.07% | 10.24% | -14.44% | -6.86% | -3.24% | 1.68% | -0.53% | 0.22% | -0.9% |
| Net Income Growth % | -172.36% | -198.46% | -154.04% | 52.71% | -22.21% | -8.76% | 159.61% | -502.42% | -123.59% | -14.02% | 51.79% | -43.47% | -39.5% | 8.23% | 102.68% | -33.99% | 717.5% | -80.96% | 6.77% | -46.38% | 122.87% | 3878.18% | -99.18% | 152.87% | -123% | -113.26% | -277.77% | 433.33% | -325% | 122.22% | -140.91% |
| Net Income (Continuing) | -17.37M | -8.32M | -2.79M | 5.16M | 3.38M | 4.34M | 4.76M | -7.98M | -1.32M | 5.62M | 6.53M | 4.3M | 7.61M | 12.58M | 11.63M | 5.74M | 8.69M | 1.06M | 5.58M | 5.23M | 9.75M | 4.38M | 110K | 13.41M | -25.36M | -11.37M | -5.33M | 3M | -900K | 600K | -1.8M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -1.60 | -0.77 | -0.26 | 0.47 | 0.31 | 0.39 | 0.44 | -0.74 | -0.12 | 0.51 | 0.58 | 0.38 | 0.67 | 1.12 | 1.07 | 0.55 | 0.85 | 0.11 | 0.54 | 0.51 | 0.97 | 0.44 | 0.01 | 1.39 | -2.62 | -1.18 | -0.55 | 0.31 | -0.09 | 0.04 | -0.18 |
| EPS Growth % | -168.41% | -196.15% | -155.32% | 51.61% | -20.51% | -11.36% | 159.46% | -516.67% | -123.53% | -12.07% | 52.63% | -43.28% | -40.18% | 4.67% | 94.55% | -35.29% | 672.73% | -79.63% | 5.88% | -47.42% | 120.45% | 4300% | -99.28% | 153.05% | -122.03% | -114.55% | -277.42% | 444.44% | -314.29% | 123.33% | -141.86% |
| EPS (Basic) | - | -0.77 | -0.26 | 0.48 | 0.31 | 0.40 | 0.44 | -0.74 | -0.12 | 0.51 | 0.58 | 0.38 | 0.67 | 1.12 | 1.11 | 0.55 | 0.86 | 0.11 | 0.56 | 0.53 | 1.00 | 0.45 | 0.01 | 1.39 | -2.62 | -1.18 | -0.55 | 0.32 | -0.09 | 0.04 | -0.21 |
| Diluted Shares Outstanding | 10.83M | 10.76M | 10.76M | 10.94M | 11.06M | 11.05M | 10.82M | 10.76M | 10.76M | 11.01M | 11.28M | 11.33M | 11.36M | 11.25M | 10.84M | 10.41M | 10.19M | 10.07M | 10.27M | 10.34M | 10.07M | 9.95M | 11M | 9.67M | 9.67M | 9.67M | 9.64M | 9.68M | 10M | 9.53M | 10M |
| Basic Shares Outstanding | 10.83M | 10.76M | 10.76M | 10.76M | 10.76M | 10.76M | 10.76M | 10.76M | 10.76M | 10.92M | 11.26M | 11.29M | 11.36M | 11.23M | 10.45M | 10.34M | 10.12M | 10.06M | 10M | 9.9M | 9.71M | 9.68M | 9.67M | 9.67M | 9.67M | 9.67M | 9.64M | 9.38M | 10M | 9.53M | 8.52M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Liquidity and volume contraction
As indicated by recent financial statements, Key Tronic has experienced a sustained period of top-line decay, with revenue falling to $89.6 million in 2026Q3, representing a 20% year-over-year decline that highlights the company's sensitivity to the inventory management cycles of its primary industrial and consumer OEM customers.
The consistent downward trajectory in revenue suggests that the company is struggling to replace expiring programs with new, high-volume contracts. This trend appears to be more than a temporary cyclical dip, potentially reflecting a structural loss of relevance in its core EMS markets as customers migrate toward larger, more diversified manufacturing partners.
Based on reported figures, Key Tronic's gross margin has struggled to maintain stability, fluctuating between 0.6% and 8.4% over the last ten quarters, which underscores the company's lack of pricing power and its role as a low-margin pass-through entity for volatile component costs.
The razor-thin gross margins leave virtually no buffer for operational inefficiencies or inflationary pressures, as evidenced by the recent collapse to 0.6% in 2026Q2. Investors should monitor whether the company can achieve any meaningful margin expansion, or if it remains trapped in a commoditized business model that is highly susceptible to unabsorbed fixed costs.
According to historical income statements, Key Tronic has failed to demonstrate positive operating leverage, with operating income consistently dipping into negative territory as revenue volumes decline, culminating in an operating loss of $875,000 in 2026Q3 despite the company's efforts to manage its overhead expenses.
The inability to scale operating income faster than gross profit suggests that the company's fixed cost base is too high relative to its current revenue generation capacity. This lack of operating leverage implies that the business model may require a significant increase in facility utilization to reach a sustainable break-even point.
As reported in recent filings, the company's precarious cash position of $1.38 million against a backdrop of recurring net losses suggests that Key Tronic faces significant liquidity risk, which may limit its ability to fund necessary working capital or survive further operational setbacks without external financing.
Short-sellers would likely focus on the company's inability to generate consistent net income, which has remained negative in most of the last ten quarters. This pattern warrants further investigation into whether the company's current capital structure can support its ongoing operations without resorting to dilutive measures that could further impair shareholder value.
Quick answers to the most common questions about buying KTCC stock.
For fiscal year 2025, Key Tronic Corporation (KTCC) reported total revenue of $467.9M. This represents a 132.8% increase compared to $201.0M in 1996.
Key Tronic Corporation (KTCC) reported a net loss of $8.3M for the fiscal year ending 2025.
Key Tronic Corporation (KTCC) reported an operating income of $0.6M, resulting in an operating profit margin of 0.1%. This margin reflects the operational efficiency of the business before interest and taxes.
Key Tronic Corporation (KTCC) generated $36.4M in gross profit for the year, representing a gross profit margin of 7.8%. This demonstrates the company's core pricing power and production efficiency.