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M-tron Industries Inc
(NYSE MKT:MPTI)
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Rating:79Outperform
Price Target:
$101.00
▲(20.84% Upside)
Action:Reiterated
Date:08/17/26
Overall score is driven primarily by strong financial performance (improving profitability, strong cash generation, and very low leverage) and a supportive earnings update (accelerating EBITDA and a sharply higher backlog). Technicals are moderately constructive but not strongly bullish, while valuation is a meaningful headwind given the ~30x P/E and no dividend yield provided.
Positive Factors
Revenue and Profitability Growth
M-tron has expanded revenue from $26.7M in 2021 to $58.2M TTM while materially improving margins. This combination indicates stronger operating leverage and a more profitable business model, supporting durable earnings growth if demand remains healthy.
Negative Factors
Near-Term Gross Margin Pressure
Program ramps, operational inefficiencies and noncash compensation are weighing on margins. Management expects improvement as automation scales, but the transition may constrain profitability for several quarters and makes margin sustainability an execution risk.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue and Profitability Growth
M-tron has expanded revenue from $26.7M in 2021 to $58.2M TTM while materially improving margins. This combination indicates stronger operating leverage and a more profitable business model, supporting durable earnings growth if demand remains healthy.
Read all positive factors
M-tron Industries Inc (MPTI) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$382.71M
Dividend YieldN/A
Average Volume (3M)229.81K
Price to Earnings (P/E)29.9
Beta (1Y)1.32
Revenue Growth11.85%
EPS Growth10.33%
CountryUS
Employees249
SectorTechnology
Sector Strength88
IndustryHardware, Equipment & Parts
Share Statistics
EPS (TTM)2.94
Shares Outstanding4,346,476
10 Day Avg. Volume296,519
30 Day Avg. Volume229,811
Financial Highlights & Ratios
PEG Ratio3.15
Price to Book (P/B)2.42
Price to Sales (P/S)2.81
P/FCF Ratio18.86
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)2.6
Revenue Forecast (FY)$60.00M
M-tron Industries Inc Business Overview & Revenue Model
Company Description
M-tron Industries, Inc. specializes in the design, manufacturing, and global distribution of advanced frequency and spectrum control solutions. The company operates through two distinct product lines: 1. Frequency Control: This segment offers a co...
How the Company Makes Money
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M-tron Industries Inc Earnings Call Summary
Earnings Call Date:Aug 12, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 18, 2026
Earnings Call Sentiment Positive
The call communicated strong commercial momentum — double-digit revenue growth, a 41.7% increase in adjusted EBITDA, a large and growing backlog (+37.2%), and significant defense and space program wins — while acknowledging near-term margin pressure from nonrecurring stock-based charges, ramp-related inefficiencies, EPS dilution from a rights offering, tariff headwinds, and capacity scaling needs. Management emphasized strategic investments, balance sheet strengthening, an active M&A pipeline, and expected margin improvement over time as production efficiencies and automation come online.Positive Updates
Revenue Growth
Total revenue of $15.1M in Q2 FY26, up 13.8% from $13.3M in Q2 FY25; growth driven primarily by aerospace and defense program shipments, with particular strength in avionics and space.
Negative Updates
Gross Margin Contraction and Nonrecurring Charges
Gross margin declined to 41.2% in Q2 FY26 from 43.6% in Q2 FY25 (a 2.4 percentage point decline). Management attributed part of the reduction to approximately $500K of noncash stock-based compensation tied to the 2025 annual bonus, a charge not expected to recur at comparable levels.
Read all updates
Q2-2026 Updates
Positive
Negative
Revenue Growth
Total revenue of $15.1M in Q2 FY26, up 13.8% from $13.3M in Q2 FY25; growth driven primarily by aerospace and defense program shipments, with particular strength in avionics and space.
Read all positive updates
Company Guidance
Management said it expects revenue to continue growing at a slightly accelerated pace through FY2026 and FY2027, with adjusted EBITDA already up 41.7% year-over-year in Q2 ($3.4M vs $2.4M), backlog up 37.2% to $84.0M (from $61.2M) and more than half of next year’s production already in backlog after three quarters of strong book-to-bill; they warned gross margins may compress modestly during program ramps (Q2 GAAP 41.2% vs 43.6% a year ago, with roughly $500K and $1.0M of noncash stock-based compensation noted) and guided H2 gross margins roughly in the 41.5–44% range before improvement in 2027 as automation scales, noted tariffs trimmed margin by ~1.1% this quarter (vs 1.25% in Q2 2025), and said they expect first purchase orders from recent multi-year framework agreements in Q1 FY2027 for 2028 production while using April 2026 rights‑offering proceeds to fund M&A, capacity/automation and product/engineering investments (citing $12M of new 2026–27 orders from products that totaled ~$200K in 2025).M-tron Industries Inc Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
91
Very Positive
Cash Flow
84
Very Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 58.20M | 54.42M | 49.01M | 41.17M | 31.84M | 26.69M |
| Gross Profit | 25.77M | 24.15M | 22.64M | 16.77M | 11.35M | 9.34M |
| EBITDA | 13.32M | 12.04M | 10.75M | 5.25M | 3.33M | 2.67M |
| Net Income | 9.52M | 8.45M | 7.64M | 3.49M | 1.80M | 1.58M |
Balance Sheet | ||||||
| Total Assets | 125.94M | 68.38M | 36.49M | 24.30M | 19.27M | 20.01M |
| Cash, Cash Equivalents and Short-Term Investments | 96.25M | 20.89M | 12.64M | 3.91M | 926.00K | 2.63M |
| Total Debt | 132.00K | 217.00K | 9.00K | 97.00K | 147.00K | 145.00K |
| Total Liabilities | 7.22M | 5.17M | 5.22M | 4.41M | 4.93M | 3.16M |
| Stockholders Equity | 118.72M | 63.22M | 31.27M | 19.89M | 14.34M | 16.85M |
Cash Flow | ||||||
| Free Cash Flow | 9.48M | 8.11M | 5.62M | 3.12M | 1.11M | 1.86M |
| Operating Cash Flow | 12.02M | 10.66M | 7.52M | 4.41M | 2.04M | 2.96M |
| Investing Cash Flow | -3.48M | -2.55M | -1.90M | -1.28M | -936.00K | -1.10M |
| Financing Cash Flow | 72.18M | 142.00K | 3.10M | -137.00K | -2.81M | -1.68M |
M-tron Industries Inc Technical Analysis
Positive
83.58
Price Trends
88.14
Negative
80.91
Positive
69.71
Positive
Market Momentum
0.34
Negative
49.73
Neutral
76.09
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MPTI, the sentiment is Positive. The current price of 83.58 is below the 20-day moving average (MA) of 84.94, below the 50-day MA of 88.14, and above the 200-day MA of 69.71, indicating a neutral trend. The MACD of 0.34 indicates Negative momentum. The RSI at 49.73 is Neutral, neither overbought nor oversold. The STOCH value of 76.09 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for MPTI.
M-tron Industries Inc Risk Analysis
M-tron Industries Inc disclosed 28 risk factors in its most recent earnings report. M-tron Industries Inc reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 1 New Risks
M-tron Industries Inc Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | $382.71M | 29.95 | 13.03% | ― | 11.85% | 10.33% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
59 Neutral | $288.63M | 44.04 | 3.98% | 1.30% | 9.41% | ― | |
56 Neutral | $89.79M | -73.08 | -10.92% | ― | 7.85% | 45.80% | |
49 Neutral | $83.34M | -13.73 | -435.06% | ― | 86.71% | 78.28% | |
44 Neutral | $83.95M | 941.30 | 0.15% | ― | 25.56% | ― | |
44 Neutral | $121.25M | -1.15 | -92.81% | ― | 28.49% | -296.38% |
* Technology Sector Average
MPTI
M-tron Industries Inc
84.21
41.73
98.23%
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M-tron Industries Inc Corporate Events
Business Operations and StrategyFinancial DisclosuresM&A TransactionsPrivate Placements and Financing
M-tron Industries Posts Strong Q2 Growth and Backlog
Positive
Aug 12, 2026
For the quarter ended June 30, 2026, M-tron Industries reported revenues of $15.1 million, up 13.8% from a year earlier, driven by strong aerospace and defense program shipments and growth in avionics and space products. Net income rose 19.9% to $...
Executive/Board ChangesShareholder Meetings
M-tron Industries Shareholders Back Directors and Incentive Plan
Positive
Jun 18, 2026
On June 16, 2026, M-tron Industries, Inc. held its 2026 Annual Meeting of Stockholders, where shareholders elected seven directors to serve until the 2027 annual meeting, with all nominees receiving the requisite support. Investors also approved, ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.