CTS CORP CTS
CTS Corporation ("CTS", "we", "our", "us" or the "Company") is a global manufacturer of sensors, connectivity components, and actuators. CTS was established in 1896 as a provider of high-quality telephone products and was incorporated as an Indiana corporation in February 1929. Our principal executive offices are located in Lisle, Illinois.
We design, manufacture, and sell a broad line of sensors, connectivity components, and actuators primarily to original equipment manufacturers ("OEMs"), tier one suppliers for the aerospace and defense, industrial, medical, and transportation markets, and the U.S. Government. Our vision is to be a leading provider of sensing and motion devices as well as connectivity components, enabling an intelligent and seamless world. These devices are categorized by their ability to Sense, Connect or Move. Sense products provide vital inputs to electronic systems. Connect products allow systems to function in synchronization with other systems. Move products ensure required movements are effectively and accurately executed. We are committed to achieving our vision by continuing to invest in the development of products, technologies, and talent within these categories.
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 | $541.3M | $514.8M | $550.4M | $586.9M | $512.9M | $424.1M | $469.0M | $470.5M | $423.0M | $396.7M |
| Cost of revenue | $333.3M | $327.2M | $359.6M | $376.3M | $328.3M | $285.0M | $311.4M | $305.5M | $282.6M | $256.3M |
| Gross profit | $208.0M | $187.6M | $190.9M | $210.5M | $184.6M | $139.1M | $157.6M | $165.0M | $140.4M | $140.4M |
| R&D | $25.3M | $23.4M | $24.9M | $24.1M | $23.9M | $24.3M | $26.0M | $25.3M | $25.1M | $24.0M |
| SG&A | $98.7M | $88.3M | $83.8M | $91.5M | $82.6M | $67.8M | $70.4M | $73.6M | $71.9M | $61.6M |
| Operating income | $82.6M | $71.2M | $75.1M | $93.0M | $76.5M | $45.1M | $53.8M | $61.0M | $38.5M | $63.2M |
| Interest expense | $4.3M | $4.2M | $3.3M | $2.2M | $2.1M | $3.3M | $2.6M | $2.1M | $3.3M | $3.7M |
| Pre-tax income | $83.8M | $68.6M | $75.2M | $80.7M | -$60.9M | $45.5M | $50.3M | $58.1M | $40.3M | $57.2M |
| Income tax | $18.5M | $13.1M | $14.6M | $21.2M | $19.0M | $10.8M | $14.1M | $11.6M | $25.8M | $22.9M |
| Net income | $65.3M | $55.5M | $60.5M | $59.6M | -$41.9M | $34.7M | $36.1M | $46.5M | $14.4M | $34.4M |
| EPS, basic | 2.21 | 1.82 | 1.93 | 1.86 | -1.30 | 1.07 | 1.11 | 1.41 | 0.44 | 1.05 |
| EPS, diluted | 2.19 | 1.81 | 1.92 | 1.85 | -1.30 | 1.06 | 1.09 | 1.39 | 0.43 | 1.03 |
| Shares, diluted (wtd. avg.) | $29.8M | $30.7M | $31.6M | $32.2M | $32.3M | $32.6M | $33.1M | $33.6M | $33.4M | $33.3M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $82.3M | $94.3M | $163.9M | $156.9M | $141.5M | $91.8M | $100.2M | $100.9M | $113.6M | $113.8M |
| Receivables | $88.1M | $77.6M | $78.6M | $90.9M | $82.2M | $81.0M | $78.0M | $79.5M | $70.6M | $62.6M |
| Inventory | $52.9M | $52.3M | $60.0M | $62.3M | $49.5M | $45.9M | $42.2M | $43.5M | $36.6M | $28.7M |
| Total current assets | $252.7M | $242.2M | $319.3M | $325.8M | $289.1M | $233.2M | $237.5M | $239.4M | $233.6M | $215.7M |
| Property, plant and equipment | $89.7M | $94.4M | $92.6M | $97.3M | $96.9M | $97.4M | $105.0M | $99.4M | $88.2M | $82.1M |
| Goodwill | $209.6M | $201.3M | $157.6M | $152.4M | $109.8M | $109.5M | $106.1M | $71.1M | $71.1M | $61.7M |
| Other intangibles | $153.6M | $163.9M | $104.0M | $108.1M | $69.9M | $79.1M | $85.2M | $60.2M | $66.9M | $64.4M |
| Total assets | $764.3M | $765.4M | $741.2M | $748.5M | $664.5M | $626.0M | $643.4M | $548.3M | $539.7M | $517.7M |
| Accounts payable | $48.2M | $42.6M | $43.5M | $53.2M | $55.5M | $50.5M | $48.2M | $52.0M | $49.2M | $40.0M |
| Total current liabilities | $109.7M | $98.5M | $97.0M | $112.5M | $114.1M | $104.9M | $96.9M | $104.0M | $102.4M | $98.1M |
| Total liabilities | $212.5M | $237.2M | $214.3M | $242.3M | $200.9M | $202.4M | $238.1M | $170.4M | $195.9M | $199.8M |
| Retained earnings | $713.5M | $652.9M | $602.2M | $546.7M | $492.2M | $539.3M | $509.8M | $478.8M | $420.2M | $411.0M |
| Total equity | $551.8M | $528.2M | $526.8M | $506.2M | $463.6M | $423.7M | $405.2M | $377.9M | $343.8M | $317.9M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $102.1M | $98.2M | $88.8M | $121.2M | $86.1M | $76.8M | $64.4M | $58.2M | $58.0M | $47.2M |
| Depreciation and amortisation | $34.5M | $30.9M | $28.7M | $29.8M | $26.9M | $26.7M | $24.6M | $22.5M | $20.7M | $19.0M |
| Capital expenditure | $15.7M | $18.6M | $14.7M | $14.3M | $15.6M | $14.9M | $21.7M | $28.5M | $18.1M | $20.5M |
| Investing cash flow | -$18.5M | -$140.6M | -$18.1M | -$111.2M | -$15.9M | -$23.2M | -$95.5M | -$28.5M | -$36.7M | -$81.3M |
| Financing cash flow | -$98.4M | -$26.9M | -$65.4M | $4.3M | -$20.7M | -$61.3M | $30.1M | -$42.5M | -$20.8M | -$8.6M |
| Dividends paid | $4.8M | $4.9M | $5.0M | $5.1M | $5.2M | $5.2M | $5.2M | $5.3M | $5.3M | $5.2M |
| Buybacks | $56.2M | $42.6M | $40.9M | $21.4M | $8.8M | $8.1M | $11.7M | $9.4M | $0 | $0 |
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 0001193125-26-067039.
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