Pro-Dex, Inc. (PDEX) 10-Year Financial Performance & Capital Metrics

PDEX • • Industrial / General

HealthcareMedical InstrumentsSurgical & Interventional DevicesSurgical Instruments & Tools

AboutPro-Dex, Inc. designs, develops, and manufactures powered surgical instruments for medical device original equipment manufacturers worldwide. The company offers autoclavable, battery-powered and electric, and multi-function surgical drivers and shavers that are primarily used in the orthopedic, thoracic, and craniomaxillofacial markets. It also provides engineering, quality, and regulatory consulting services; and manufactures and sells rotary air motors to various industries. The company was founded in 1978 and is headquartered in Irvine, California.Show more

Revenue $67M +23.7%
EBITDA $12M +43.1%
Net Income $9M +322.1%
EPS (Diluted) 2.67 +345.0%
Gross Margin 29.3% +8.4%
EBITDA Margin 17.91% +15.7%
Operating Margin 16.05% +20.5%
Net Margin 13.48% +241.3%
ROE 26.6% +290.6%
ROIC 16.95% +34.3%
Debt/Equity 0.45 +3.1%
Interest Coverage 12.89 +0.3%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong 5Y sales CAGR of 13.8%
✓Good 3Y average ROE of 19.4%
✓Share count reduced 5.9% through buybacks
✓Healthy 5Y average net margin of 10.9%
✓Efficient asset utilization: 1.1x turnover

✗Weaknesses

✗Negative free cash flow
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y17.41%

5Y13.84%

3Y16.57%

TTM23.65%

Profit (Net Income) CAGR

10Y-

5Y7.99%

3Y25.23%

TTM114.88%

EPS CAGR

10Y-

5Y12.22%

3Y30.19%

TTM117.53%

ROCE

10Y Avg18.75%

5Y Avg17.29%

3Y Avg18.93%

Latest24.82%

Peer Comparison

Surgical Instruments & Tools

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
PDEXPro-Dex, Inc.	134M	41.08	15.39	23.68%	15.93%	26.96%		0.45
POCIPrecision Optics Corporation, Inc.	33.56M	4.35	-5.12	-0.07%	-28.3%	-55.9%		0.17

Profit & Loss

	Jun 2016	Jun 2017	Jun 2018	Jun 2019	Jun 2020	Jun 2021	Jun 2022	Jun 2023	Jun 2024	Jun 2025
Sales/Revenue+	20.16M	21.94M	22.46M	27.17M	34.83M	42.04M	42.04M	46.09M	53.84M	66.59M
Revenue Growth %	0.51%	0.09%	0.02%	0.21%	0.28%	0.21%	0%	0.1%	0.17%	0.24%
Cost of Goods Sold+	14.76M	14.76M	14.52M	17.39M	21.69M	28.91M	28.91M	33.34M	39.29M	47.08M
COGS % of Revenue	0.73%	0.67%	0.65%	0.64%	0.62%	0.69%	0.69%	0.72%	0.73%	0.71%
Gross Profit+	5.4M	7.19M	7.94M	9.78M	13.14M	13.13M	13.13M	12.75M	14.55M	19.51M
Gross Margin %	0.27%	0.33%	0.35%	0.36%	0.38%	0.31%	0.31%	0.28%	0.27%	0.29%
Gross Profit Growth %	0.46%	0.33%	0.11%	0.23%	0.34%	-0%	0%	-0.03%	0.14%	0.34%
Operating Expenses+	4.63M	4.34M	4.54M	4.79M	6.08M	8.01M	8.01M	6.99M	7.38M	8.82M
OpEx % of Revenue	0.23%	0.2%	0.2%	0.18%	0.17%	0.19%	0.19%	0.15%	0.14%	0.13%
Selling, General & Admin	2.78M	3.11M	2.65M	2.91M	3.77M	4.99M	4.99M	4.18M	4.19M	5.18M
SG&A % of Revenue	0.14%	0.14%	0.12%	0.11%	0.11%	0.12%	0.12%	0.09%	0.08%	0.08%
Research & Development	1.85M	1.23M	1.89M	1.88M	2.31M	2.98M	2.98M	2.8M	3.19M	3.64M
R&D % of Revenue	0.09%	0.06%	0.08%	0.07%	0.07%	0.07%	0.07%	0.06%	0.06%	0.05%
Other Operating Expenses	0	0	0	45K	0	35K	35K	0	0	0
Operating Income+	526K	2.73M	2.39M	5M	7.07M	5.12M	5.12M	5.76M	7.17M	10.69M
Operating Margin %	0.03%	0.12%	0.11%	0.18%	0.2%	0.12%	0.12%	0.13%	0.13%	0.16%
Operating Income Growth %	1.58%	4.2%	-0.13%	1.09%	0.41%	-0.27%	0%	0.12%	0.24%	0.49%
EBITDA+	1.13M	3.29M	2.95M	5.44M	7.68M	5.85M	5.85M	6.62M	8.33M	11.93M
EBITDA Margin %	0.06%	0.15%	0.13%	0.2%	0.22%	0.14%	0.14%	0.14%	0.15%	0.18%
EBITDA Growth %	4.48%	1.91%	-0.1%	0.84%	0.41%	-0.24%	0%	0.13%	0.26%	0.43%
D&A (Non-Cash Add-back)	603K	555K	557K	438K	614K	726K	726K	857K	1.16M	1.24M
EBIT	1.17M	2.85M	3.4M	4.99M	8.14M	6.16M	6.16M	9.96M	3.19M	12.89M
Net Interest Income+	-37K	15K	218K	48K	-141K	-226K	-388K	-239K	-414K	-747K
Interest Income	0	27K	225K	268K	95K	126K	76K	294K	144K	82K
Interest Expense	37K	12K	7K	220K	236K	352K	464K	533K	558K	829K
Other Income/Expense	602K	15K	218K	449K	836K	571K	571K	3.67M	-4.54M	1.37M
Pretax Income+	847K	2.75M	2.61M	5.45M	7.9M	5.69M	5.69M	9.43M	2.63M	12.06M
Pretax Margin %	0.04%	0.13%	0.12%	0.2%	0.23%	0.14%	0.14%	0.2%	0.05%	0.18%
Income Tax+	25K	-2.09M	989K	1.3M	1.79M	1.12M	1.12M	2.35M	507K	3.08M
Effective Tax Rate %	0.97%	1.85%	0.62%	0.76%	0.77%	0.8%	0.8%	0.75%	0.81%	0.74%
Net Income+	822K	5.08M	1.62M	4.15M	6.11M	4.57M	4.57M	7.07M	2.13M	8.98M
Net Margin %	0.04%	0.23%	0.07%	0.15%	0.18%	0.11%	0.11%	0.15%	0.04%	0.13%
Net Income Growth %	3.25%	5.18%	-0.68%	1.56%	0.47%	-0.25%	0%	0.55%	-0.7%	3.22%
Net Income (Continuing)	1.1M	4.84M	1.62M	4.15M	6.11M	4.57M	4.57M	7.07M	2.13M	8.98M
Discontinued Operations	0	243K	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	0.20	1.25	0.37	0.97	1.50	1.13	1.21	1.95	0.60	2.67
EPS Growth %	3.29%	5.25%	-0.7%	1.62%	0.55%	-0.25%	0.07%	0.61%	-0.69%	3.45%
EPS (Basic)	0.20	1.26	0.38	0.99	1.56	1.17	1.26	1.98	0.61	2.73
Diluted Shares Outstanding	4.17M	4.08M	4.34M	4.3M	4.08M	3.94M	3.76M	3.64M	3.57M	3.36M
Basic Shares Outstanding	4.14M	4.04M	4.3M	4.19M	3.91M	3.8M	3.64M	3.57M	3.5M	3.29M
Dividend Payout Ratio	-	-	-	0.01%	-	-	-	-	-	-

Balance Sheet

	Jun 2016	Jun 2017	Jun 2018	Jun 2019	Jun 2020	Jun 2021	Jun 2022	Jun 2023	Jun 2024	Jun 2025
Total Current Assets+	9.22M	11.92M	16.23M	21.78M	22.67M	31.17M	31.17M	30.98M	36.61M	47.3M
Cash & Short-Term Investments	2.29M	4.92M	7.41M	10.39M	8.98M	1.6M	1.6M	4.07M	6.85M	7.16M
Cash Only	2.29M	4.21M	5.19M	7.74M	6.42M	849K	849K	2.94M	2.63M	419K
Short-Term Investments	0	718K	2.22M	2.65M	2.56M	755K	755K	1.13M	4.22M	6.74M
Accounts Receivable	2.98M	3.62M	4.13M	4.1M	5.16M	15.38M	15.38M	9.95M	13.89M	17.49M
Days Sales Outstanding	53.94	60.28	67.12	55.08	54.02	133.56	133.56	78.82	94.14	95.86
Inventory	3.57M	3.08M	4.39M	6.24M	8.24M	12.68M	12.68M	16.17M	15.27M	22.21M
Days Inventory Outstanding	88.39	76.3	110.41	130.94	138.62	160.07	160.07	177	141.84	172.2
Other Current Assets	525K	374K	32K	430K	155K	710K	710K	494K	262K	434K
Total Non-Current Assets+	1.93M	4.43M	3.68M	3.74M	8.45M	17.92M	17.92M	20.84M	15.87M	13.9M
Property, Plant & Equipment	1.29M	1.43M	1.75M	2.73M	5.63M	13.42M	13.42M	13.2M	12.65M	1.05M
Fixed Asset Turnover	15.67x	15.36x	12.80x	9.97x	6.19x	3.13x	3.13x	3.49x	4.26x	63.42x
Goodwill	112K	112K	0	0	0	0	0	0	0	0
Intangible Assets	451K	320K	140K	129K	162K	118K	118K	81K	54K	26K
Long-Term Investments	0	450K	43K	582K	2.36M	4.08M	4.08M	7.52M	1.56M	148K
Other Non-Current Assets	80K	71K	68K	40K	42K	42K	42K	42K	42K	11.26M
Total Assets+	11.15M	16.35M	19.92M	25.52M	31.13M	49.09M	49.09M	51.82M	52.48M	61.19M
Asset Turnover	1.81x	1.34x	1.13x	1.06x	1.12x	0.86x	0.86x	0.89x	1.03x	1.09x
Asset Growth %	-0.11%	0.47%	0.22%	0.28%	0.22%	0.58%	0%	0.06%	0.01%	0.17%
Total Current Liabilities+	2.08M	2.58M	2.54M	4.27M	5.23M	11.35M	11.35M	9.68M	12.89M	14.63M
Accounts Payable	841K	1.16M	1.08M	2M	1.97M	3.76M	3.76M	2.26M	4.51M	4.61M
Days Payables Outstanding	20.8	28.67	27.22	41.89	33.06	47.49	47.49	24.75	41.92	35.77
Short-Term Debt	26K	26K	35K	622K	651K	3.29M	3.29M	3.83M	4.37M	6.15M
Deferred Revenue (Current)	212K	19K	31K	215K	200K	1000K	1000K	0	14K	202K
Other Current Liabilities	626K	528K	807K	0	0	0	0	0	0	1.63M
Current Ratio	4.44x	4.62x	6.40x	5.10x	4.34x	2.74x	2.74x	3.20x	2.84x	3.23x
Quick Ratio	2.72x	3.42x	4.67x	3.64x	2.76x	1.63x	1.63x	1.53x	1.66x	1.71x
Cash Conversion Cycle	121.52	107.92	150.31	144.12	159.57	246.15	246.15	231.07	194.05	232.29
Total Non-Current Liabilities+	193K	61K	103K	4.24M	6.84M	12.3M	12.3M	10.56M	8.72M	9.93M
Long-Term Debt	46K	0	6K	3.93M	3.28M	10.25M	10.25M	8.91M	7.54M	9.25M
Capital Lease Obligations	0	61K	6K	0	2.75M	2.05M	2.05M	1.64M	1.18M	685K
Deferred Tax Liabilities	0	758K	476K	614K	0	0	0	8K	0	0
Other Non-Current Liabilities	147K	0	91K	308K	804K	0	0	0	0	0
Total Liabilities	2.27M	2.64M	2.64M	8.51M	12.06M	23.66M	23.66M	20.23M	21.61M	24.56M
Total Debt+	72K	119K	41K	4.56M	7.02M	15.97M	15.97M	14.79M	13.55M	16.58M
Net Debt	-2.22M	-4.09M	-5.15M	-3.19M	602K	15.12M	15.12M	11.86M	10.92M	16.16M
Debt / Equity	0.01x	0.01x	0.00x	0.27x	0.37x	0.63x	0.63x	0.47x	0.44x	0.45x
Debt / EBITDA	0.06x	0.04x	0.01x	0.84x	0.91x	2.73x	2.73x	2.23x	1.63x	1.39x
Net Debt / EBITDA	-1.97x	-1.24x	-1.75x	-0.59x	0.08x	2.58x	2.58x	1.79x	1.31x	1.35x
Interest Coverage	14.22x	227.83x	341.71x	22.72x	29.94x	14.55x	11.04x	10.81x	12.85x	12.89x
Total Equity+	8.88M	13.71M	17.28M	17.01M	19.06M	25.43M	25.43M	31.59M	30.87M	36.63M
Equity Growth %	0.05%	0.54%	0.26%	-0.02%	0.12%	0.33%	0%	0.24%	-0.02%	0.19%
Book Value per Share	2.13	3.36	3.98	3.96	4.67	6.46	6.76	8.69	8.64	10.90
Total Shareholders' Equity	8.88M	13.71M	17.28M	17.01M	19.06M	25.43M	25.43M	31.59M	30.87M	36.63M
Common Stock	17.99M	17.7M	19.84M	15.81M	12.75M	7.68M	7.68M	6.77M	3.92M	704K
Retained Earnings	-9.11M	-4.03M	-2.41M	1.74M	7.9M	17.75M	17.75M	24.82M	26.95M	35.93M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-7.77M	33K	-153K	-549K	-1.59M	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Jun 2016	Jun 2017	Jun 2018	Jun 2019	Jun 2020	Jun 2021	Jun 2022	Jun 2023	Jun 2024	Jun 2025
Cash from Operations+	466K	3.23M	3.1M	3.33M	5.9M	-847K	-847K	5.46M	6.2M	-1.68M
Operating CF Margin %	0.02%	0.15%	0.14%	0.12%	0.17%	-0.02%	-0.02%	0.12%	0.12%	-0.03%
Operating CF Growth %	1.6%	5.94%	-0.04%	0.07%	0.77%	-1.14%	0%	7.45%	0.13%	-1.27%
Net Income	822K	5.08M	1.62M	4.15M	6.11M	4.57M	4.57M	7.07M	2.13M	8.98M
Depreciation & Amortization	614K	555K	557K	438K	573K	726K	726K	857K	1.16M	1.24M
Stock-Based Compensation	4K	3K	194K	37K	286K	1.27M	1.27M	766K	605K	555K
Deferred Taxes	0	-2.05M	391K	1.42M	-22K	-63K	-63K	264K	-1.56M	140K
Other Non-Cash Items	-129K	-234K	1.03M	-370K	26K	-820K	-820K	-3.9M	4.09M	-2.14M
Working Capital Changes	-845K	-125K	-694K	-2.35M	-1.08M	-6.54M	-6.54M	396K	-225K	-10.45M
Change in Receivables	-523K	-633K	569K	-1.13M	-1.06M	-4.45M	-4.45M	5.43M	-3.94M	-2.55M
Change in Inventory	737K	279K	-1.31M	-1.85M	-2M	-4.24M	-4.24M	-3.49M	898K	-6.94M
Change in Payables	-1.29M	518K	-57K	1.13M	604K	1.99M	1.99M	-1.15M	2.44M	179K
Cash from Investing+	1.59M	-1.03M	-4.12M	-1.22M	-3.24M	-1.24M	-1.24M	-885K	-2.23M	-238K
Capital Expenditures	-335K	-638K	-934K	-1.4M	-565K	-1.64M	-1.64M	-974K	-983K	-1.25M
CapEx % of Revenue	0.02%	0.03%	0.04%	0.05%	0.02%	0.04%	0.04%	0.02%	0.02%	0.02%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-6K	-447K	-320K	1.23M	998K	-33K	-33K	0	0	-304K
Cash from Financing+	-457K	-298K	2M	450K	-3.98M	-790K	-790K	-2.49M	-4.27M	-292K
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	-23K	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	500K	73K	38K	51K	39K	60K	60K	-134K	50K	-305K
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	131K	2.6M	2.16M	1.93M	5.33M	-2.52M	-2.52M	4.49M	5.22M	-2.93M
FCF Margin %	0.01%	0.12%	0.1%	0.07%	0.15%	-0.06%	-0.06%	0.1%	0.1%	-0.04%
FCF Growth %	1.12%	18.82%	-0.17%	-0.11%	1.77%	-1.47%	0%	2.78%	0.16%	-1.56%
FCF per Share	0.03	0.64	0.50	0.45	1.31	-0.64	-0.67	1.23	1.46	-0.87
FCF Conversion (FCF/Net Income)	0.57x	0.64x	1.91x	0.80x	0.96x	-0.19x	-0.19x	0.77x	2.91x	-0.19x
Interest Paid	37K	12K	7K	199K	218K	463K	463K	521K	555K	818K
Taxes Paid	21K	217K	401K	320K	683K	1.56M	1.56M	1.66M	1.89M	4.46M

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	9.47%	45.02%	10.46%	24.2%	33.89%	20.55%	17.98%	24.81%	6.81%	26.6%
Return on Invested Capital (ROIC)	5.43%	25.19%	16.49%	28.89%	31.65%	12.76%	9.48%	10.29%	12.62%	16.95%
Gross Margin	26.8%	32.75%	35.36%	35.99%	37.73%	31.24%	31.24%	27.66%	27.02%	29.3%
Net Margin	4.08%	23.17%	7.22%	15.27%	17.55%	10.88%	10.88%	15.35%	3.95%	13.48%
Debt / Equity	0.01x	0.01x	0.00x	0.27x	0.37x	0.63x	0.63x	0.47x	0.44x	0.45x
Interest Coverage	14.22x	227.83x	341.71x	22.72x	29.94x	14.55x	11.04x	10.81x	12.85x	12.89x
FCF Conversion	0.57x	0.64x	1.91x	0.80x	0.96x	-0.19x	-0.19x	0.77x	2.91x	-0.19x
Revenue Growth	50.62%	8.86%	2.38%	20.95%	28.2%	20.69%	0%	9.62%	16.83%	23.68%

Revenue by Segment

	2012	2013	2016
Non Warranty Repairs	-	722K	-
Non Warranty Repairs Growth	-	-	-
Product Two	3.28M	-	-
Product Two Growth	-	-	-
Product One	1.73M	-	-
Product One Growth	-	-	-
Repairs	1.7M	-	-
Repairs Growth	-	-	-

Revenue by Geography

	2012	2013	2016
North America	-	-	16.09M
North America Growth	-	-	-
Europe	-	-	3.84M
Europe Growth	-	-	-
Other	-	-	225K
Other Growth	-	-	-

Frequently Asked Questions

Valuation & Price

Pro-Dex, Inc. (PDEX) has a price-to-earnings (P/E) ratio of 15.4x. This is roughly in line with market averages.

Growth & Financials

Pro-Dex, Inc. (PDEX) reported $70.2M in revenue for fiscal year 2025. This represents a 307% increase from $17.3M in 2012.

Pro-Dex, Inc. (PDEX) grew revenue by 23.7% over the past year. This is strong growth.

Yes, Pro-Dex, Inc. (PDEX) is profitable, generating $11.2M in net income for fiscal year 2025 (13.5% net margin).

Dividend & Returns

Pro-Dex, Inc. (PDEX) has a return on equity (ROE) of 26.6%. This is excellent, indicating efficient use of shareholder capital.

Pro-Dex, Inc. (PDEX) had negative free cash flow of $2.1M in fiscal year 2025, likely due to heavy capital investments.

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Pro-Dex, Inc. (PDEX) 10-Year Financial Performance & Capital Metrics

PDEX • • Industrial / General

HealthcareMedical InstrumentsSurgical & Interventional DevicesSurgical Instruments & Tools

Revenue $67M +23.7%
EBITDA $12M +43.1%
Net Income $9M +322.1%
EPS (Diluted) 2.67 +345.0%
Gross Margin 29.3% +8.4%
EBITDA Margin 17.91% +15.7%
Operating Margin 16.05% +20.5%
Net Margin 13.48% +241.3%
ROE 26.6% +290.6%
ROIC 16.95% +34.3%
Debt/Equity 0.45 +3.1%
Interest Coverage 12.89 +0.3%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong 5Y sales CAGR of 13.8%
✓Good 3Y average ROE of 19.4%
✓Share count reduced 5.9% through buybacks
✓Healthy 5Y average net margin of 10.9%
✓Efficient asset utilization: 1.1x turnover

✗Weaknesses

✗Negative free cash flow
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y17.41%

5Y13.84%

3Y16.57%

TTM23.65%

Profit (Net Income) CAGR

10Y-

5Y7.99%

3Y25.23%

TTM114.88%

EPS CAGR

10Y-

5Y12.22%

3Y30.19%

TTM117.53%

ROCE

10Y Avg18.75%

5Y Avg17.29%

3Y Avg18.93%

Latest24.82%

Peer Comparison

Surgical Instruments & Tools

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
PDEXPro-Dex, Inc.	134M	41.08	15.39	23.68%	15.93%	26.96%		0.45
POCIPrecision Optics Corporation, Inc.	33.56M	4.35	-5.12	-0.07%	-28.3%	-55.9%		0.17

Profit & Loss

	Jun 2016	Jun 2017	Jun 2018	Jun 2019	Jun 2020	Jun 2021	Jun 2022	Jun 2023	Jun 2024	Jun 2025
Sales/Revenue+	20.16M	21.94M	22.46M	27.17M	34.83M	42.04M	42.04M	46.09M	53.84M	66.59M
Revenue Growth %	0.51%	0.09%	0.02%	0.21%	0.28%	0.21%	0%	0.1%	0.17%	0.24%
Cost of Goods Sold+	14.76M	14.76M	14.52M	17.39M	21.69M	28.91M	28.91M	33.34M	39.29M	47.08M
COGS % of Revenue	0.73%	0.67%	0.65%	0.64%	0.62%	0.69%	0.69%	0.72%	0.73%	0.71%
Gross Profit+	5.4M	7.19M	7.94M	9.78M	13.14M	13.13M	13.13M	12.75M	14.55M	19.51M
Gross Margin %	0.27%	0.33%	0.35%	0.36%	0.38%	0.31%	0.31%	0.28%	0.27%	0.29%
Gross Profit Growth %	0.46%	0.33%	0.11%	0.23%	0.34%	-0%	0%	-0.03%	0.14%	0.34%
Operating Expenses+	4.63M	4.34M	4.54M	4.79M	6.08M	8.01M	8.01M	6.99M	7.38M	8.82M
OpEx % of Revenue	0.23%	0.2%	0.2%	0.18%	0.17%	0.19%	0.19%	0.15%	0.14%	0.13%
Selling, General & Admin	2.78M	3.11M	2.65M	2.91M	3.77M	4.99M	4.99M	4.18M	4.19M	5.18M
SG&A % of Revenue	0.14%	0.14%	0.12%	0.11%	0.11%	0.12%	0.12%	0.09%	0.08%	0.08%
Research & Development	1.85M	1.23M	1.89M	1.88M	2.31M	2.98M	2.98M	2.8M	3.19M	3.64M
R&D % of Revenue	0.09%	0.06%	0.08%	0.07%	0.07%	0.07%	0.07%	0.06%	0.06%	0.05%
Other Operating Expenses	0	0	0	45K	0	35K	35K	0	0	0
Operating Income+	526K	2.73M	2.39M	5M	7.07M	5.12M	5.12M	5.76M	7.17M	10.69M
Operating Margin %	0.03%	0.12%	0.11%	0.18%	0.2%	0.12%	0.12%	0.13%	0.13%	0.16%
Operating Income Growth %	1.58%	4.2%	-0.13%	1.09%	0.41%	-0.27%	0%	0.12%	0.24%	0.49%
EBITDA+	1.13M	3.29M	2.95M	5.44M	7.68M	5.85M	5.85M	6.62M	8.33M	11.93M
EBITDA Margin %	0.06%	0.15%	0.13%	0.2%	0.22%	0.14%	0.14%	0.14%	0.15%	0.18%
EBITDA Growth %	4.48%	1.91%	-0.1%	0.84%	0.41%	-0.24%	0%	0.13%	0.26%	0.43%
D&A (Non-Cash Add-back)	603K	555K	557K	438K	614K	726K	726K	857K	1.16M	1.24M
EBIT	1.17M	2.85M	3.4M	4.99M	8.14M	6.16M	6.16M	9.96M	3.19M	12.89M
Net Interest Income+	-37K	15K	218K	48K	-141K	-226K	-388K	-239K	-414K	-747K
Interest Income	0	27K	225K	268K	95K	126K	76K	294K	144K	82K
Interest Expense	37K	12K	7K	220K	236K	352K	464K	533K	558K	829K
Other Income/Expense	602K	15K	218K	449K	836K	571K	571K	3.67M	-4.54M	1.37M
Pretax Income+	847K	2.75M	2.61M	5.45M	7.9M	5.69M	5.69M	9.43M	2.63M	12.06M
Pretax Margin %	0.04%	0.13%	0.12%	0.2%	0.23%	0.14%	0.14%	0.2%	0.05%	0.18%
Income Tax+	25K	-2.09M	989K	1.3M	1.79M	1.12M	1.12M	2.35M	507K	3.08M
Effective Tax Rate %	0.97%	1.85%	0.62%	0.76%	0.77%	0.8%	0.8%	0.75%	0.81%	0.74%
Net Income+	822K	5.08M	1.62M	4.15M	6.11M	4.57M	4.57M	7.07M	2.13M	8.98M
Net Margin %	0.04%	0.23%	0.07%	0.15%	0.18%	0.11%	0.11%	0.15%	0.04%	0.13%
Net Income Growth %	3.25%	5.18%	-0.68%	1.56%	0.47%	-0.25%	0%	0.55%	-0.7%	3.22%
Net Income (Continuing)	1.1M	4.84M	1.62M	4.15M	6.11M	4.57M	4.57M	7.07M	2.13M	8.98M
Discontinued Operations	0	243K	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	0.20	1.25	0.37	0.97	1.50	1.13	1.21	1.95	0.60	2.67
EPS Growth %	3.29%	5.25%	-0.7%	1.62%	0.55%	-0.25%	0.07%	0.61%	-0.69%	3.45%
EPS (Basic)	0.20	1.26	0.38	0.99	1.56	1.17	1.26	1.98	0.61	2.73
Diluted Shares Outstanding	4.17M	4.08M	4.34M	4.3M	4.08M	3.94M	3.76M	3.64M	3.57M	3.36M
Basic Shares Outstanding	4.14M	4.04M	4.3M	4.19M	3.91M	3.8M	3.64M	3.57M	3.5M	3.29M
Dividend Payout Ratio	-	-	-	0.01%	-	-	-	-	-	-

Balance Sheet

	Jun 2016	Jun 2017	Jun 2018	Jun 2019	Jun 2020	Jun 2021	Jun 2022	Jun 2023	Jun 2024	Jun 2025
Total Current Assets+	9.22M	11.92M	16.23M	21.78M	22.67M	31.17M	31.17M	30.98M	36.61M	47.3M
Cash & Short-Term Investments	2.29M	4.92M	7.41M	10.39M	8.98M	1.6M	1.6M	4.07M	6.85M	7.16M
Cash Only	2.29M	4.21M	5.19M	7.74M	6.42M	849K	849K	2.94M	2.63M	419K
Short-Term Investments	0	718K	2.22M	2.65M	2.56M	755K	755K	1.13M	4.22M	6.74M
Accounts Receivable	2.98M	3.62M	4.13M	4.1M	5.16M	15.38M	15.38M	9.95M	13.89M	17.49M
Days Sales Outstanding	53.94	60.28	67.12	55.08	54.02	133.56	133.56	78.82	94.14	95.86
Inventory	3.57M	3.08M	4.39M	6.24M	8.24M	12.68M	12.68M	16.17M	15.27M	22.21M
Days Inventory Outstanding	88.39	76.3	110.41	130.94	138.62	160.07	160.07	177	141.84	172.2
Other Current Assets	525K	374K	32K	430K	155K	710K	710K	494K	262K	434K
Total Non-Current Assets+	1.93M	4.43M	3.68M	3.74M	8.45M	17.92M	17.92M	20.84M	15.87M	13.9M
Property, Plant & Equipment	1.29M	1.43M	1.75M	2.73M	5.63M	13.42M	13.42M	13.2M	12.65M	1.05M
Fixed Asset Turnover	15.67x	15.36x	12.80x	9.97x	6.19x	3.13x	3.13x	3.49x	4.26x	63.42x
Goodwill	112K	112K	0	0	0	0	0	0	0	0
Intangible Assets	451K	320K	140K	129K	162K	118K	118K	81K	54K	26K
Long-Term Investments	0	450K	43K	582K	2.36M	4.08M	4.08M	7.52M	1.56M	148K
Other Non-Current Assets	80K	71K	68K	40K	42K	42K	42K	42K	42K	11.26M
Total Assets+	11.15M	16.35M	19.92M	25.52M	31.13M	49.09M	49.09M	51.82M	52.48M	61.19M
Asset Turnover	1.81x	1.34x	1.13x	1.06x	1.12x	0.86x	0.86x	0.89x	1.03x	1.09x
Asset Growth %	-0.11%	0.47%	0.22%	0.28%	0.22%	0.58%	0%	0.06%	0.01%	0.17%
Total Current Liabilities+	2.08M	2.58M	2.54M	4.27M	5.23M	11.35M	11.35M	9.68M	12.89M	14.63M
Accounts Payable	841K	1.16M	1.08M	2M	1.97M	3.76M	3.76M	2.26M	4.51M	4.61M
Days Payables Outstanding	20.8	28.67	27.22	41.89	33.06	47.49	47.49	24.75	41.92	35.77
Short-Term Debt	26K	26K	35K	622K	651K	3.29M	3.29M	3.83M	4.37M	6.15M
Deferred Revenue (Current)	212K	19K	31K	215K	200K	1000K	1000K	0	14K	202K
Other Current Liabilities	626K	528K	807K	0	0	0	0	0	0	1.63M
Current Ratio	4.44x	4.62x	6.40x	5.10x	4.34x	2.74x	2.74x	3.20x	2.84x	3.23x
Quick Ratio	2.72x	3.42x	4.67x	3.64x	2.76x	1.63x	1.63x	1.53x	1.66x	1.71x
Cash Conversion Cycle	121.52	107.92	150.31	144.12	159.57	246.15	246.15	231.07	194.05	232.29
Total Non-Current Liabilities+	193K	61K	103K	4.24M	6.84M	12.3M	12.3M	10.56M	8.72M	9.93M
Long-Term Debt	46K	0	6K	3.93M	3.28M	10.25M	10.25M	8.91M	7.54M	9.25M
Capital Lease Obligations	0	61K	6K	0	2.75M	2.05M	2.05M	1.64M	1.18M	685K
Deferred Tax Liabilities	0	758K	476K	614K	0	0	0	8K	0	0
Other Non-Current Liabilities	147K	0	91K	308K	804K	0	0	0	0	0
Total Liabilities	2.27M	2.64M	2.64M	8.51M	12.06M	23.66M	23.66M	20.23M	21.61M	24.56M
Total Debt+	72K	119K	41K	4.56M	7.02M	15.97M	15.97M	14.79M	13.55M	16.58M
Net Debt	-2.22M	-4.09M	-5.15M	-3.19M	602K	15.12M	15.12M	11.86M	10.92M	16.16M
Debt / Equity	0.01x	0.01x	0.00x	0.27x	0.37x	0.63x	0.63x	0.47x	0.44x	0.45x
Debt / EBITDA	0.06x	0.04x	0.01x	0.84x	0.91x	2.73x	2.73x	2.23x	1.63x	1.39x
Net Debt / EBITDA	-1.97x	-1.24x	-1.75x	-0.59x	0.08x	2.58x	2.58x	1.79x	1.31x	1.35x
Interest Coverage	14.22x	227.83x	341.71x	22.72x	29.94x	14.55x	11.04x	10.81x	12.85x	12.89x
Total Equity+	8.88M	13.71M	17.28M	17.01M	19.06M	25.43M	25.43M	31.59M	30.87M	36.63M
Equity Growth %	0.05%	0.54%	0.26%	-0.02%	0.12%	0.33%	0%	0.24%	-0.02%	0.19%
Book Value per Share	2.13	3.36	3.98	3.96	4.67	6.46	6.76	8.69	8.64	10.90
Total Shareholders' Equity	8.88M	13.71M	17.28M	17.01M	19.06M	25.43M	25.43M	31.59M	30.87M	36.63M
Common Stock	17.99M	17.7M	19.84M	15.81M	12.75M	7.68M	7.68M	6.77M	3.92M	704K
Retained Earnings	-9.11M	-4.03M	-2.41M	1.74M	7.9M	17.75M	17.75M	24.82M	26.95M	35.93M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-7.77M	33K	-153K	-549K	-1.59M	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Jun 2016	Jun 2017	Jun 2018	Jun 2019	Jun 2020	Jun 2021	Jun 2022	Jun 2023	Jun 2024	Jun 2025
Cash from Operations+	466K	3.23M	3.1M	3.33M	5.9M	-847K	-847K	5.46M	6.2M	-1.68M
Operating CF Margin %	0.02%	0.15%	0.14%	0.12%	0.17%	-0.02%	-0.02%	0.12%	0.12%	-0.03%
Operating CF Growth %	1.6%	5.94%	-0.04%	0.07%	0.77%	-1.14%	0%	7.45%	0.13%	-1.27%
Net Income	822K	5.08M	1.62M	4.15M	6.11M	4.57M	4.57M	7.07M	2.13M	8.98M
Depreciation & Amortization	614K	555K	557K	438K	573K	726K	726K	857K	1.16M	1.24M
Stock-Based Compensation	4K	3K	194K	37K	286K	1.27M	1.27M	766K	605K	555K
Deferred Taxes	0	-2.05M	391K	1.42M	-22K	-63K	-63K	264K	-1.56M	140K
Other Non-Cash Items	-129K	-234K	1.03M	-370K	26K	-820K	-820K	-3.9M	4.09M	-2.14M
Working Capital Changes	-845K	-125K	-694K	-2.35M	-1.08M	-6.54M	-6.54M	396K	-225K	-10.45M
Change in Receivables	-523K	-633K	569K	-1.13M	-1.06M	-4.45M	-4.45M	5.43M	-3.94M	-2.55M
Change in Inventory	737K	279K	-1.31M	-1.85M	-2M	-4.24M	-4.24M	-3.49M	898K	-6.94M
Change in Payables	-1.29M	518K	-57K	1.13M	604K	1.99M	1.99M	-1.15M	2.44M	179K
Cash from Investing+	1.59M	-1.03M	-4.12M	-1.22M	-3.24M	-1.24M	-1.24M	-885K	-2.23M	-238K
Capital Expenditures	-335K	-638K	-934K	-1.4M	-565K	-1.64M	-1.64M	-974K	-983K	-1.25M
CapEx % of Revenue	0.02%	0.03%	0.04%	0.05%	0.02%	0.04%	0.04%	0.02%	0.02%	0.02%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-6K	-447K	-320K	1.23M	998K	-33K	-33K	0	0	-304K
Cash from Financing+	-457K	-298K	2M	450K	-3.98M	-790K	-790K	-2.49M	-4.27M	-292K
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	-23K	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	500K	73K	38K	51K	39K	60K	60K	-134K	50K	-305K
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	131K	2.6M	2.16M	1.93M	5.33M	-2.52M	-2.52M	4.49M	5.22M	-2.93M
FCF Margin %	0.01%	0.12%	0.1%	0.07%	0.15%	-0.06%	-0.06%	0.1%	0.1%	-0.04%
FCF Growth %	1.12%	18.82%	-0.17%	-0.11%	1.77%	-1.47%	0%	2.78%	0.16%	-1.56%
FCF per Share	0.03	0.64	0.50	0.45	1.31	-0.64	-0.67	1.23	1.46	-0.87
FCF Conversion (FCF/Net Income)	0.57x	0.64x	1.91x	0.80x	0.96x	-0.19x	-0.19x	0.77x	2.91x	-0.19x
Interest Paid	37K	12K	7K	199K	218K	463K	463K	521K	555K	818K
Taxes Paid	21K	217K	401K	320K	683K	1.56M	1.56M	1.66M	1.89M	4.46M

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	9.47%	45.02%	10.46%	24.2%	33.89%	20.55%	17.98%	24.81%	6.81%	26.6%
Return on Invested Capital (ROIC)	5.43%	25.19%	16.49%	28.89%	31.65%	12.76%	9.48%	10.29%	12.62%	16.95%
Gross Margin	26.8%	32.75%	35.36%	35.99%	37.73%	31.24%	31.24%	27.66%	27.02%	29.3%
Net Margin	4.08%	23.17%	7.22%	15.27%	17.55%	10.88%	10.88%	15.35%	3.95%	13.48%
Debt / Equity	0.01x	0.01x	0.00x	0.27x	0.37x	0.63x	0.63x	0.47x	0.44x	0.45x
Interest Coverage	14.22x	227.83x	341.71x	22.72x	29.94x	14.55x	11.04x	10.81x	12.85x	12.89x
FCF Conversion	0.57x	0.64x	1.91x	0.80x	0.96x	-0.19x	-0.19x	0.77x	2.91x	-0.19x
Revenue Growth	50.62%	8.86%	2.38%	20.95%	28.2%	20.69%	0%	9.62%	16.83%	23.68%

Revenue by Segment

	2012	2013	2016
Non Warranty Repairs	-	722K	-
Non Warranty Repairs Growth	-	-	-
Product Two	3.28M	-	-
Product Two Growth	-	-	-
Product One	1.73M	-	-
Product One Growth	-	-	-
Repairs	1.7M	-	-
Repairs Growth	-	-	-

Revenue by Geography

	2012	2013	2016
North America	-	-	16.09M
North America Growth	-	-	-
Europe	-	-	3.84M
Europe Growth	-	-	-
Other	-	-	225K
Other Growth	-	-	-

Frequently Asked Questions

Valuation & Price

Pro-Dex, Inc. (PDEX) has a price-to-earnings (P/E) ratio of 15.4x. This is roughly in line with market averages.

Growth & Financials

Pro-Dex, Inc. (PDEX) reported $70.2M in revenue for fiscal year 2025. This represents a 307% increase from $17.3M in 2012.

Pro-Dex, Inc. (PDEX) grew revenue by 23.7% over the past year. This is strong growth.

Yes, Pro-Dex, Inc. (PDEX) is profitable, generating $11.2M in net income for fiscal year 2025 (13.5% net margin).

Dividend & Returns

Pro-Dex, Inc. (PDEX) has a return on equity (ROE) of 26.6%. This is excellent, indicating efficient use of shareholder capital.

Pro-Dex, Inc. (PDEX) had negative free cash flow of $2.1M in fiscal year 2025, likely due to heavy capital investments.