Revenue growth accelerated to 26.6% in 2026Q2, though operating margins remain fragile at 5.9% due to the company's inability to consistently leverage its manufacturing overhead.
| Metric | TTM | Oct'25 | Oct'24 | Oct'23 | Oct'22 | Oct'21 | Oct'20 | Oct'19 | Oct'18 | Oct'17 | Oct'16 | Oct'15 | Oct'14 | Oct'13 | Oct'12 | Oct'11 | Oct'10 | Oct'09 | Oct'08 | Oct'07 | Oct'06 | Oct'05 | Oct'04 | Oct'03 | Oct'02 | Oct'01 | Oct'00 | Oct'99 | Oct'98 | Oct'97 | Oct'96 |
|---|
| Sales/Revenue | 78.39M | 73.04M | 66.67M | 72.17M | 69.08M | 59.14M | 55.28M | 71.32M | 87.83M | 64.09M | 64.62M | 73.57M | 82.98M | 75.27M | 83.52M | 73.34M | 67.51M | 58.59M | 61M | 45.5M | 45.33M | 45.9M | 43.22M | 41.11M | 42.6M | 60.41M | 58.22M | 50.7M | 50.6M | 52.2M | 45.2M |
| Revenue Growth % | 13.61% | 9.55% | -7.62% | 4.48% | 16.81% | 6.98% | -22.5% | -18.79% | 37.03% | -0.81% | -12.17% | -11.34% | 10.25% | -9.89% | 13.89% | 8.64% | 15.22% | -3.95% | 34.05% | 0.38% | -1.24% | 6.2% | 5.12% | -3.48% | -29.48% | 3.76% | 14.83% | 0.2% | -3.07% | 15.49% | - |
| Cost of Goods Sold | 52.79M | 50.44M | 48.47M | 49.88M | 48.57M | 42.86M | 41.19M | 53.02M | 59.95M | 43.3M | 44.89M | 51.77M | 54.51M | 49.35M | 51.97M | 47.05M | 43.75M | 38.75M | 36.84M | 28.33M | 29.91M | 28.07M | 26.52M | 26.5M | 27.61M | 35.98M | 30.04M | 26.7M | 28.5M | 29.9M | 24.4M |
| COGS % of Revenue | - | 69.06% | 72.7% | 69.11% | 70.31% | 72.48% | 74.52% | 74.34% | 68.26% | 67.55% | 69.47% | 70.37% | 65.69% | 65.57% | 62.22% | 64.15% | 64.8% | 66.14% | 60.39% | 62.27% | 65.98% | 61.15% | 61.35% | 64.47% | 64.81% | 59.57% | 51.59% | 52.66% | 56.32% | 57.28% | 53.98% |
| Gross Profit | 25.6M | 22.6M | 18.2M | 22.29M | 20.51M | 16.27M | 14.09M | 18.3M | 27.87M | 20.8M | 19.73M | 21.8M | 28.47M | 25.91M | 31.55M | 26.29M | 23.76M | 19.84M | 24.16M | 17.17M | 15.42M | 17.83M | 16.7M | 14.61M | 14.99M | 24.42M | 28.18M | 24M | 22.1M | 22.3M | 20.8M |
| Gross Margin % | 32.66% | 30.94% | 27.3% | 30.89% | 29.69% | 27.52% | 25.48% | 25.66% | 31.74% | 32.45% | 30.53% | 29.63% | 34.31% | 34.43% | 37.78% | 35.85% | 35.2% | 33.86% | 39.61% | 37.73% | 34.02% | 38.85% | 38.65% | 35.53% | 35.19% | 40.43% | 48.41% | 47.34% | 43.68% | 42.72% | 46.02% |
| Gross Profit Growth % | - | 24.14% | -18.34% | 8.69% | 26.04% | 15.53% | -23.05% | -34.33% | 34.02% | 5.44% | -9.5% | -23.45% | 9.88% | -17.88% | 20.01% | 10.65% | 19.75% | -17.88% | 40.71% | 11.33% | -13.51% | 6.76% | 14.33% | -2.55% | -38.62% | -13.35% | 17.43% | 8.6% | -0.9% | 7.21% | - |
| Operating Expenses | 23.63M | 22.97M | 21.58M | 21.3M | 20.04M | 18.25M | 19.62M | 23.47M | 26.13M | 22.11M | 20.94M | 24.18M | 27.14M | 25.15M | 27.14M | 24.82M | 23.62M | 22.29M | 20.48M | 15.3M | 14.9M | 16.03M | 15.46M | 14.3M | 14.6M | 17.13M | 15.87M | 11.6M | 10.7M | 10.3M | 8.9M |
| OpEx % of Revenue | - | 31.45% | 32.37% | 29.51% | 29.01% | 30.86% | 35.49% | 32.9% | 29.75% | 34.5% | 32.41% | 32.86% | 32.71% | 33.41% | 32.49% | 33.84% | 34.99% | 38.05% | 33.57% | 33.62% | 32.87% | 34.92% | 35.77% | 34.77% | 34.27% | 28.36% | 27.25% | 22.88% | 21.15% | 19.73% | 19.69% |
| Selling, General & Admin | 23.59M | 22.97M | 21.5M | 21.22M | 18.99M | 17.31M | 18.15M | 23.43M | 26.13M | 21.97M | 20.76M | 24.04M | 26.99M | 25M | 27.3M | 25.17M | 24.27M | 22.35M | 20.64M | 15.3M | 14.9M | 16.03M | 15.46M | 13.31M | 13.6M | 17.13M | 15.02M | 10.8M | 9.9M | 9.6M | 8.4M |
| SG&A % of Revenue | - | 31.45% | 32.25% | 29.4% | 27.49% | 29.27% | 32.83% | 32.86% | 29.75% | 34.28% | 32.13% | 32.68% | 32.53% | 33.21% | 32.69% | 34.32% | 35.95% | 38.14% | 33.84% | 33.62% | 32.87% | 34.92% | 35.77% | 32.37% | 31.93% | 28.36% | 25.81% | 21.3% | 19.57% | 18.39% | 18.58% |
| Research & Development | 0 | 0 | 0 | 983K | 973K | 928K | 1.1M | 1.2M | 1.3M | 1.3M | 1.3M | 1.3M | 1.4M | 1.4M | 1.3M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | 1.36% | 1.41% | 1.57% | 1.99% | 1.68% | 1.48% | 2.03% | 2.01% | 1.77% | 1.69% | 1.86% | 1.56% | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 34.17K | 0 | 80.51K | -902.74K | 78K | 8K | 374K | 33K | 2K | 146K | 181K | 135K | 150.81K | 148.73K | -164.97K | -352.42K | -646.37K | -52.41K | -166.22K | 0 | 0 | 0 | 0 | 987.89K | 997.11K | 0 | 841.65K | 800K | 800K | 700K | 500K |
| Operating Income | 1.95M | -424K | -3.38M | 993.08K | 473K | -1.97M | -5.53M | -5.16M | 1.74M | -1.32M | -1.22M | -2.38M | 1.33M | 767.12K | 4.42M | 1.47M | 218.26K | -1.62M | 3.68M | 1.87M | 522.05K | 1.81M | 1.25M | 312.55K | 390.97K | 7.29M | 12.32M | 12.4M | 11.4M | 12M | 11.9M |
| Operating Margin % | 2.48% | -0.58% | -5.06% | 1.38% | 0.68% | -3.34% | -10.01% | -7.24% | 1.98% | -2.05% | -1.88% | -3.24% | 1.61% | 1.02% | 5.29% | 2.01% | 0.32% | -2.77% | 6.04% | 4.11% | 1.15% | 3.93% | 2.88% | 0.76% | 0.92% | 12.07% | 21.16% | 24.46% | 22.53% | 22.99% | 26.33% |
| Operating Income Growth % | - | 87.44% | -439.98% | 109.95% | 123.97% | 64.34% | -7.19% | -396.67% | 232.12% | -8.22% | 48.91% | -278.79% | 73.67% | -82.64% | 199.56% | 575.69% | 113.47% | -143.99% | 97.02% | 258.19% | -71.09% | 44.92% | 298.63% | -20.06% | -94.64% | -40.81% | -0.67% | 8.77% | -5% | 0.84% | - |
| EBITDA | 2.72M | 380.51K | -2.51M | 1.94M | 497K | -766.62K | -5.49M | -5.12M | 1.77M | 358.52K | 837.98K | -2.37M | 3.33M | 2.79M | 6.61M | 4.17M | 3.17M | 1.46M | 5.35M | 3.45M | 1.93M | 3.06M | 2.31M | 1.44M | 1.55M | 8.35M | 12.92M | 13.2M | 12.1M | 12.7M | 12.2M |
| EBITDA Margin % | 3.46% | 0.52% | -3.77% | 2.69% | 0.72% | -1.3% | -9.93% | -7.18% | 2.02% | 0.56% | 1.3% | -3.22% | 4.01% | 3.71% | 7.91% | 5.68% | 4.7% | 2.49% | 8.78% | 7.57% | 4.26% | 6.66% | 5.36% | 3.5% | 3.63% | 13.82% | 22.18% | 26.04% | 23.91% | 24.33% | 26.99% |
| EBITDA Growth % | 348.68% | 115.16% | -229.43% | 290.25% | 164.83% | 86.04% | -7.18% | -388.62% | 395.09% | -57.22% | 135.34% | -171.27% | 19.1% | -57.72% | 58.54% | 31.3% | 117.36% | -72.73% | 55.37% | 78.42% | -36.77% | 31.97% | 60.93% | -7% | -81.47% | -35.35% | -2.16% | 9.09% | -4.72% | 4.1% | - |
| D&A (Non-Cash Add-back) | 769.08K | 804.51K | 865.85K | 946.46K | 24K | 1.21M | 42K | 39K | 35K | 1.68M | 2.05M | 11K | 1.99M | 2.03M | 2.19M | 2.69M | 2.96M | 3.08M | 1.67M | 1.58M | 1.41M | 1.25M | 1.07M | 1.13M | 1.16M | 1.06M | 597.99K | 800K | 700K | 700K | 300K |
| EBIT | 1.96M | -419.28K | -3.02M | 3.36M | 445.89K | -1.97M | -5.53M | -5.15M | 1.66M | -1.22M | -1.17M | -2.38M | 1.3M | 741.91K | 4.44M | 1.48M | -5.3M | -1.95M | 3.76M | 1.87M | 522.05K | 1.81M | 1.25M | 312.55K | 390.97K | 7.29M | 12.32M | 12.4M | 11.4M | 12M | 11.9M |
| Net Interest Income | -938.09K | -1M | -1.17M | -1.15M | -768.29K | -690.38K | -569.81K | -521.14K | -608.42K | -523.03K | -620.81K | -439.92K | -413.73K | -466.6K | -550.25K | -620.17K | -542.21K | 149.23K | -147.12K | 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 | 8.42K | 4.66K | 79.54K | 831.08K | 99.42K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 469.2K | 1M | 1.17M | 1.15M | 768.29K | 690.38K | 569.81K | 521.14K | 608.42K | 523.03K | 620.81K | 439.92K | 413.73K | 466.6K | 558.66K | 624.83K | 621.75K | 681.85K | 246.54K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | -951.67K | -1M | -813.22K | 1.22M | -795.26K | 8.56M | -570.22K | -513.42K | -688.27K | -427.2K | -578.13K | -433.26K | -441.71K | -491.81K | -534.28K | -619K | -6.14M | 165.36K | -170.7K | 48.02K | -19.25K | 16.55K | -131.91K | -120.91K | -175.42K | -11.72M | 416.61K | 100K | 0 | -100K | 200K |
| Pretax Income | 994.57K | -1.42M | -4.19M | 2.21M | -322K | 6.59M | -6.1M | -5.67M | 1.05M | -1.74M | -1.79M | -2.81M | 890.58K | 275.31K | 3.88M | 855.75K | -5.92M | -2.63M | 3.51M | 1.92M | 502.8K | 1.82M | 1.11M | 191.65K | 215.56K | -4.43M | 12.73M | 12.5M | 11.4M | 11.9M | 12.1M |
| Pretax Margin % | 1.27% | -1.95% | -6.28% | 3.07% | -0.47% | 11.14% | -11.04% | -7.96% | 1.2% | -2.72% | -2.78% | -3.83% | 1.07% | 0.37% | 4.65% | 1.17% | -8.77% | -4.49% | 5.76% | 4.22% | 1.11% | 3.97% | 2.58% | 0.47% | 0.51% | -7.34% | 21.87% | 24.65% | 22.53% | 22.8% | 26.77% |
| Income Tax | -14.07K | 30.3K | 20.7K | 145.72K | 25K | -19.9K | 18K | 5.8K | -17K | -5K | 6K | 1.48M | 267.67K | 347.79K | 1.26M | 398.25K | 91.29K | -705.66K | 1.3M | 665.33K | 152.17K | 650.28K | 363.95K | -122.96K | -67.89K | 2.3M | 4.48M | 4.2M | 4.1M | 4.1M | 4.6M |
| Effective Tax Rate % | -1.41% | -2.13% | -0.49% | 6.59% | -7.76% | -0.3% | -0.29% | -0.1% | -1.62% | 0.29% | -0.33% | -52.65% | 30.06% | 126.33% | 32.38% | 46.54% | -1.54% | 26.83% | 37.05% | 34.69% | 30.26% | 35.69% | 32.67% | -64.16% | -31.5% | -51.84% | 35.17% | 33.6% | 35.96% | 34.45% | 38.02% |
| Net Income | 1.01M | -1.45M | -4.21M | 2.07M | -347K | 6.61M | -6.12M | -5.67M | 1.07M | -1.74M | -1.8M | -4.3M | 684.23K | -72.48K | 2.75M | 457.5K | -6.01M | -1.92M | 2.21M | 1.25M | 350.63K | 1.17M | 750.07K | 314.61K | 283.45K | -6.73M | 8.26M | 8.3M | 7.3M | 7.8M | 7.5M |
| Net Margin % | 1.29% | -1.99% | -6.31% | 2.86% | -0.5% | 11.18% | -11.07% | -7.95% | 1.22% | -2.71% | -2.79% | -5.84% | 0.82% | -0.1% | 3.29% | 0.62% | -8.9% | -3.28% | 3.63% | 2.75% | 0.77% | 2.55% | 1.74% | 0.77% | 0.67% | -11.14% | 14.18% | 16.37% | 14.43% | 14.94% | 16.59% |
| Net Income Growth % | 133.73% | 65.44% | -303.74% | 695.53% | -105.25% | 208% | -7.97% | -630.43% | 161.46% | 3.44% | 58.09% | -728.01% | 1044.05% | -102.64% | 500.94% | 107.61% | -212.31% | -187.01% | 76.57% | 257.25% | -70.08% | 56.24% | 138.42% | 10.99% | 104.21% | -181.52% | -0.54% | 13.7% | -6.41% | 4% | - |
| Net Income (Continuing) | 1.01M | -1.45M | -4.21M | 2.07M | -347.09K | 6.61M | -6.12M | -5.67M | 1.07M | -1.74M | -1.8M | -4.3M | 622.91K | -72.48K | 2.63M | 457.5K | -6.01M | -1.92M | 2.21M | 1.25M | 350.63K | 1.17M | 750.07K | 314.61K | 283.45K | -6.73M | 8.26M | 8.3M | 7.3M | 7.8M | 7.5M |
| 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 | -742K | -700.28K | -638.96K | -609.32K | -486.2K | -277.38K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 0.11 | -0.18 | -0.54 | 0.26 | -0.05 | 0.87 | -0.83 | -0.77 | 0.14 | -0.27 | -0.28 | -0.69 | 0.10 | -0.01 | 0.43 | 0.07 | -1.00 | -0.34 | 0.36 | 0.21 | 0.06 | 0.20 | 0.13 | 0.05 | 0.04 | -0.96 | 1.16 | 1.17 | 1.00 | 1.08 | 1.01 |
| EPS Growth % | 130.61% | 66.67% | -307.69% | 663.99% | -105.3% | 204.82% | -7.79% | -650% | 151.85% | 3.57% | 59.42% | -790% | 900% | -102.91% | 492.29% | 107.26% | -194.12% | -194.44% | 71.43% | 250% | -70% | 53.85% | 160% | 25% | 104.17% | -182.76% | -0.85% | 17% | -7.41% | 6.93% | - |
| EPS (Basic) | - | -0.18 | -0.54 | 0.26 | -0.05 | 0.87 | -0.83 | -0.77 | 0.14 | -0.27 | -0.28 | -0.69 | 0.10 | -0.01 | 0.43 | 0.07 | -1.00 | -0.34 | 0.36 | 0.21 | 0.06 | 0.20 | 0.13 | 0.05 | 0.04 | -0.96 | 1.18 | 1.18 | 1.01 | 1.08 | 1.01 |
| Diluted Shares Outstanding | 8.87M | 8.05M | 7.74M | 7.88M | 7.52M | 7.59M | 7.35M | 7.39M | 7.59M | 6.55M | 6.44M | 6.2M | 6.76M | 5.78M | 6.46M | 6.3M | 6.01M | 5.66M | 6.06M | 5.96M | 5.84M | 5.86M | 5.98M | 6.29M | 7.09M | 7.01M | 7.12M | 7.11M | 7.28M | 7.5M | 7.38M |
| Basic Shares Outstanding | 8.87M | 8.05M | 7.74M | 7.88M | 7.52M | 7.59M | 7.35M | 7.39M | 7.59M | 6.55M | 6.44M | 6.2M | 6.76M | 5.78M | 6.46M | 6.3M | 6.01M | 5.66M | 6.06M | 5.96M | 5.84M | 5.86M | 5.77M | 6.29M | 7.09M | 7.01M | 7.02M | 7.06M | 7.2M | 7.25M | 7.38M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | 78.92% | - | 12.99% | 55.07% | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Critical Liquidity and Scale
According to the most recent quarterly data, OCC achieved a 26.6% year-over-year revenue increase in 2026Q2, signaling a potential recovery in project-based demand compared to the stagnant or declining growth rates observed throughout the 2024 fiscal year and the early quarters of 2025.
The recent acceleration in top-line performance suggests that the company's specialized connectivity solutions are gaining traction within its target military and industrial markets. However, investors should monitor whether this growth is sustainable or merely a reflection of lumpy, project-specific procurement cycles that may not repeat in subsequent periods.
As reported in financial statements, OCC's gross margin reached 34.2% in 2026Q2, representing a notable improvement from the 24.2% trough seen in 2024Q3, though the company continues to struggle with maintaining consistent profitability due to its reliance on volatile raw material inputs like copper and optical glass.
While the expansion in gross margin indicates better pricing power or improved manufacturing efficiency, the company's inability to consistently translate this into positive operating income suggests that the current cost structure remains misaligned with its revenue scale. The sensitivity to commodity price fluctuations warrants further investigation into the company's ability to pass through costs to its distributor network.
Based on the provided income statement data, OCC's operating margin has historically fluctuated between negative 9.4% and positive 5.9%, indicating that the company has yet to achieve the necessary scale to effectively leverage its fixed manufacturing overhead and SG&A expenses against its current revenue base.
The persistent volatility in operating income suggests that the company's cost base is largely fixed, leaving it highly vulnerable to even minor revenue contractions. Until the company can demonstrate a sustained ability to scale operating income faster than gross profit, the business model may remain inherently prone to periods of operational loss.
Data from recent filings reveals a critically low cash balance of $237,508, which appears insufficient for a company generating over $73 million in annual revenue, suggesting that the firm may face significant liquidity risks if working capital requirements or unexpected operational expenses arise in the near term.
Short-sellers would likely focus on this precarious cash position as a primary indicator of potential financial distress, especially given the company's history of negative net margins. This lack of a liquidity buffer may force management to seek dilutive financing or asset sales, which could undermine long-term shareholder value regardless of the company's niche market position.
Quick answers to the most common questions about buying OCC stock.
For fiscal year 2025, Optical Cable Corporation (OCC) reported total revenue of $73.0M. This represents a 61.6% increase compared to $45.2M in 1996.
Optical Cable Corporation (OCC) reported a net loss of $1.5M for the fiscal year ending 2025.
Optical Cable Corporation (OCC) reported an operating income of $-0.4M, resulting in an operating profit margin of -0.6%. This margin reflects the operational efficiency of the business before interest and taxes.
Optical Cable Corporation (OCC) generated $22.6M in gross profit for the year, representing a gross profit margin of 30.9%. This demonstrates the company's core pricing power and production efficiency.