ALPHA PRO TECH LTD APT
ALPHA PRO TECH, LTD. ("Alpha Pro Tech," the "Company," "we," "our" or "us") is the parent company of Alpha Pro Tech, Inc. and Alpha ProTech Engineered Products, Inc. The Company was incorporated in the State of Delaware on July 1, 1994, as a successor to a business that was organized in 1983. Our executive offices are located at 53 Wellington Street East, Aurora, Ontario, Canada L4G 1H6, and our telephone number is (905) 479-0654. Our website is located at www.alphaprotech.com.
The Company continued to qualify as a smaller reporting company at the measurement date for determining such qualification during 2025. According to the disclosure requirements for smaller reporting companies, the Company has included consolidated balance sheets as of December 31, 2025 and 2024, and consolidated statements of income, comprehensive income, shareholders' equity and cash flows for each of the two years in the period ended December 31, 2025.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $59.1M | $57.8M | $61.2M | $62.0M | $68.6M | $102.7M | $46.7M | $46.6M | $44.0M | $46.2M |
| Cost of revenue | $36.6M | $34.9M | $38.4M | $40.3M | $43.3M | $52.2M | $29.7M | $28.9M | $26.6M | $29.2M |
| Gross profit | $22.5M | $22.9M | $22.8M | $21.7M | $25.3M | $50.5M | $17.0M | $17.7M | $17.5M | $17.0M |
| R&D | — | — | — | — | — | — | — | — | $0 | $0 |
| SG&A | $17.8M | $18.6M | $17.8M | $16.2M | $16.6M | $18.2M | $13.3M | $13.3M | $14.0M | $12.8M |
| Total operating expenses | $18.7M | $19.5M | $18.7M | $17.0M | $17.4M | $18.9M | $13.9M | $13.8M | $14.5M | $13.3M |
| Operating income | $3.8M | $3.4M | $4.1M | $4.7M | $7.9M | $31.6M | $3.0M | $3.9M | $2.9M | $3.7M |
| Pre-tax income | $4.6M | $5.0M | $5.4M | $4.4M | $8.5M | $32.2M | $3.7M | $4.4M | $3.7M | $4.2M |
| Income tax | $1.1M | $1.1M | $1.2M | $1.1M | $1.7M | $5.4M | $680.0K | $789.0K | $1.0M | $1.0M |
| Net income | $3.5M | $3.9M | $4.2M | $3.3M | $6.8M | $26.9M | $3.0M | $3.6M | $2.6M | $3.2M |
| EPS, basic | 0.34 | 0.35 | 0.35 | 0.26 | 0.51 | 2.00 | 0.23 | 0.26 | 0.18 | 0.19 |
| EPS, diluted | 0.33 | 0.35 | 0.35 | 0.26 | 0.50 | 1.92 | 0.23 | 0.26 | 0.18 | 0.19 |
| Shares, diluted (wtd. avg.) | $10.6M | $11.2M | $11.9M | $12.8M | $13.5M | $14.0M | $13.2M | $14.0M | $15.0M | $16.8M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $17.0M | $18.6M | $20.4M | $16.3M | $16.3M | $23.3M | $6.5M | $7.0M | $8.8M | $9.5M |
| Receivables | — | — | — | $5.4M | $3.4M | $8.1M | $3.6M | $4.9M | $4.6M | $4.6M |
| Inventory | $23.6M | $22.7M | $20.1M | $24.4M | $25.0M | $16.7M | $11.3M | $9.9M | $10.2M | $11.0M |
| Total current assets | $52.5M | $50.6M | $53.1M | $52.6M | $53.0M | $55.2M | $26.1M | $26.5M | $27.0M | $29.7M |
| Property, plant and equipment | $8.2M | $8.5M | $5.6M | $5.7M | $6.1M | $4.4M | $3.9M | $3.2M | $3.2M | $2.6M |
| Goodwill | $55.0K | $55.0K | $55.0K | $55.0K | $55.0K | $55.0K | $55.0K | $55.0K | $55.0K | $55.0K |
| Other intangibles | — | — | $0 | $1.0K | $3.0K | $7.0K | $11.0K | $16.0K | $21.0K | $34.0K |
| Total assets | $74.1M | $73.7M | $68.8M | $64.8M | $66.8M | $67.57B | $38.1M | $34.3M | $34.1M | $35.9M |
| Accounts payable | $2.0M | $1.3M | $802.0K | $674.0K | $528.0K | $2.0M | $501.0K | $578.0K | $1.2M | $1.0M |
| Total current liabilities | $4.1M | $3.1M | $2.6M | $2.4M | $2.7M | $5.9M | $2.3M | $1.9M | $2.8M | $2.5M |
| Total liabilities | $11.7M | $11.5M | $7.2M | $4.0M | $5.3M | $9.1M | $4.9M | $2.1M | $2.8M | $3.3M |
| Retained earnings | $48.5M | $47.3M | $46.6M | $45.4M | $45.4M | $61.65B | $32.4M | $29.4M | $26.2M | $22.7M |
| Total equity | $62.5M | $62.2M | $61.6M | $60.8M | $61.8M | $58.8M | $32.9M | $32.2M | $31.3M | $32.7M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $2.4M | $5.7M | $8.5M | $4.3M | -$480.0K | $18.3M | $3.1M | $2.0M | $4.0M | $6.8M |
| Depreciation and amortisation | $925.0K | $873.0K | $925.0K | $814.0K | $817.0K | $729.0K | $602.0K | $525.0K | $571.0K | $544.0K |
| Stock-based compensation | $540.0K | $463.0K | $170.0K | $147.0K | $315.0K | $375.0K | $451.0K | $432.0K | $296.0K | $190.0K |
| Capital expenditure | $639.0K | $3.8M | $792.0K | $492.0K | $2.5M | $1.1M | $1.3M | $606.0K | $1.2M | $267.0K |
| Investing cash flow | -$639.0K | -$3.8M | -$792.0K | — | -$2.5M | -$862.0K | -$1.1M | -$570.0K | -$685.0K | -$308.0K |
| Financing cash flow | -$3.4M | -$3.7M | -$3.6M | -$3.8M | -$4.0M | -$668.0K | -$2.4M | -$3.2M | -$4.0M | -$6.8M |
| Buybacks | $3.3M | $4.5M | $4.0M | $3.9M | $4.4M | $2.7M | $2.5M | $3.6M | $4.2M | $6.8M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001437749-26-014020.
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