ESCO TECHNOLOGIES INC ESE
The Registrant is ESCO Technologies Inc. (NYSE: ESE), sometimes referred to in this report as ESCO. Except where the context indicates otherwise, the terms "Company", "we", "our" and "us" are used in this report to refer to ESCO together with its subsidiaries through which its businesses are conducted. We are:
● A global provider of highly engineered components and systems for aviation, Navy, defense and industrial customers;
● An industry leader in designing and manufacturing radio frequency (RF) test and measurement products and systems; and
● A provider of diagnostic instruments, software and services to industrial power users and the electric utility and renewable energy industries.
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 | $1.10B | $919.1M | $855.8M | $857.5M | $715.4M | $730.5M | $726.0M | $683.6M | $685.7M | $571.5M |
| Cost of revenue | $634.3M | $530.6M | $502.7M | $525.5M | $445.0M | $458.3M | $438.0M | $419.7M | $436.9M | $350.8M |
| Gross profit | $461.1M | $388.6M | $353.1M | $332.0M | $270.4M | $272.2M | $288.0M | $263.9M | $248.8M | $220.7M |
| R&D | $23.0M | $12.0M | $13.0M | $12.3M | $15.4M | $13.3M | $12.1M | $10.9M | $14.0M | $12.2M |
| SG&A | $234.6M | $208.2M | $203.5M | $195.1M | $167.5M | $159.5M | $162.7M | $153.1M | $148.4M | $131.5M |
| Total operating expenses | $942.5M | $788.2M | $745.4M | $751.1M | $634.8M | $694.1M | $628.2M | $602.6M | $605.6M | $503.0M |
| Operating income | $170.4M | $146.2M | $119.1M | — | — | — | — | — | — | — |
| Interest expense | $17.5M | $15.2M | $8.8M | $4.9M | $2.2M | $6.7M | $8.1M | $8.8M | $4.6M | $1.3M |
| Pre-tax income | $152.9M | $131.0M | $110.4M | $106.4M | $80.7M | $36.4M | $97.9M | $81.1M | $80.2M | $68.4M |
| Income tax | $36.6M | $28.3M | $24.7M | $24.1M | $17.2M | $13.5M | $20.4M | $5.2M | $26.4M | $22.5M |
| Net income | $299.2M | $101.9M | $92.5M | $82.3M | $63.5M | $99.4M | $81.0M | $92.1M | $53.7M | $45.9M |
| EPS, basic | 11.59 | 3.95 | 3.59 | 3.17 | 2.44 | 3.82 | 3.12 | 3.56 | 2.08 | 1.78 |
| EPS, diluted | 11.55 | 3.94 | 3.58 | 3.16 | 2.42 | 3.81 | 3.10 | 3.54 | 2.07 | 1.77 |
| Shares, diluted (wtd. avg.) | $25.9M | $25.9M | $25.9M | $26.1M | $26.2M | $26.1M | $26.1M | $26.1M | $26.0M | $26.0M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $101.3M | $66.0M | $41.9M | $97.7M | $56.2M | $52.6M | $61.8M | $30.5M | $45.5M | $53.8M |
| Receivables | $253.6M | $222.1M | $189.3M | $164.6M | $146.3M | $144.1M | $158.7M | $163.7M | $160.6M | $121.5M |
| Inventory | $217.8M | $195.5M | $184.1M | $162.4M | $147.1M | $135.3M | $125.0M | $135.4M | $124.5M | $105.5M |
| Total current assets | $688.5M | $668.6M | $581.1M | $572.6M | $466.2M | $443.3M | $495.2M | $396.0M | $392.8M | $323.5M |
| Property, plant and equipment | $172.5M | $149.3M | $155.5M | $156.0M | $154.3M | $139.9M | $127.8M | $135.0M | $132.7M | $92.4M |
| Goodwill | $761.9M | $529.9M | $493.2M | $492.7M | $504.9M | $408.1M | $390.3M | $361.9M | $10.7M | $30.1M |
| Other intangibles | $724.0M | $403.5M | $392.1M | $394.5M | $409.2M | $346.6M | $381.6M | $345.4M | $351.1M | $231.8M |
| Total assets | $2.41B | $1.84B | $1.68B | $1.65B | $1.58B | $1.37B | $1.47B | $1.27B | $1.26B | $978.4M |
| Accounts payable | $96.5M | $88.9M | $87.0M | $78.7M | $56.7M | $50.5M | $63.8M | $63.0M | $54.8M | $42.1M |
| Short-term debt | $20.0M | $20.0M | $20.0M | $20.0M | $20.0M | $22.4M | $20.0M | $20.0M | $20.0M | $20.0M |
| Total current liabilities | $508.1M | $349.9M | $314.7M | $318.1M | $275.0M | $255.5M | $251.6M | $200.5M | $195.0M | $158.1M |
| Long-term debt | $166.0M | $102.0M | $82.0M | $133.0M | $134.0M | $40.0M | $265.0M | $200.0M | $255.0M | $90.0M |
| Total liabilities | $869.5M | $601.3M | $552.1M | $606.3M | $557.6M | $411.2M | $640.5M | $505.7M | $588.5M | $363.3M |
| Retained earnings | $1.37B | $1.08B | $989.3M | $905.0M | $831.0M | $775.8M | $684.7M | $606.8M | $516.7M | $471.3M |
| Total equity | $1.54B | $1.24B | $1.13B | $1.05B | $1.02B | $959.0M | $826.2M | $759.4M | $671.9M | $615.1M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $241.9M | $127.5M | $76.9M | $135.3M | $123.1M | $82.3M | $105.1M | $93.3M | $67.3M | $73.9M |
| Depreciation and amortisation | $75.0M | $52.2M | $47.7M | $48.3M | $42.0M | $41.3M | $36.0M | $33.7M | $32.2M | $23.6M |
| Stock-based compensation | $10.7M | $8.6M | $8.9M | $7.3M | $6.9M | $5.5M | $5.1M | $5.0M | $5.4M | $4.7M |
| Capital expenditure | $36.3M | $28.3M | $19.7M | $32.1M | $26.7M | $32.1M | $24.2M | $15.2M | $29.7M | $13.8M |
| Investing cash flow | -$255.8M | -$104.6M | -$52.5M | -$55.9M | -$202.4M | $141.0M | -$125.1M | -$41.6M | -$233.9M | -$104.6M |
| Financing cash flow | $49.5M | -$773.0K | -$78.3M | -$32.1M | $81.5M | -$236.2M | $49.8M | -$68.3M | $156.8M | $46.2M |
| Dividends paid | $8.3M | $8.2M | $8.3M | $8.3M | $8.3M | $8.3M | $8.3M | $8.3M | $8.3M | $8.2M |
| Buybacks | — | $8.0M | $12.4M | $19.9M | — | — | — | $0 | $0 | $4.3M |
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 0001104659-25-117276.
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