INTEST CORP INTT
InTest Corporation, headquartered in Mount Laurel, New Jersey, was incorporated in New Jersey in 1981 and reincorporated in Delaware in April 1997. We completed our initial public offering in June 1997 and currently trade on the NYSE American stock exchange under the symbol "INTT." The consolidated entity is comprised of InTest Corporation and our wholly owned subsidiaries which comprise our six businesses: Electro Mechanical Semiconductor ("EMS"), Acculogic, Alfamation™, InTest Thermal Solutions ("ITS"), Ambrell® and Videology®.
We are a global supplier of innovative test and process technology solutions for use in manufacturing and testing across a wide range of markets including Semi, Auto/EV, Defense/Aerospace, Industrial, Life Sciences, Safety/Security and Other. We operate our business worldwide, sell our products both domestically and internationally and manufacture our products in the U.S., Canada, Italy and began limited manufacturing in Malaysia in the fourth quarter of 2025. Marketing and support activities are conducted worldwide from our facilities in the U.S., Canada, Italy, Germany, Singapore, Malaysia, and the U.K. We have three operating segments which are also our reportable segments and reporting units: Electronic Test, Environmental Technologies and Process Technologies.
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 | $113.8M | $130.7M | $123.3M | $116.8M | $84.9M | $53.8M | $60.7M | $78.6M | $66.8M | $40.2M |
| Cost of revenue | $64.9M | $75.3M | $66.3M | $63.4M | $43.7M | $29.7M | $31.4M | $39.2M | $32.1M | $19.8M |
| Gross profit | $48.9M | $55.4M | $57.0M | $53.4M | $41.2M | $24.1M | $29.2M | $39.4M | $34.7M | $20.4M |
| R&D | $9.4M | $8.5M | $7.6M | $7.5M | $5.5M | $5.1M | $5.0M | $4.9M | $4.3M | $3.7M |
| SG&A | $22.2M | $23.6M | $21.3M | $19.3M | $15.9M | $11.4M | $13.0M | $12.8M | $11.7M | $7.0M |
| Total operating expenses | $52.6M | $52.0M | $46.5M | $42.7M | $32.8M | $25.3M | $26.7M | $34.2M | $31.1M | $16.2M |
| Operating income | -$3.7M | $3.4M | $10.4M | $10.7M | $8.5M | -$1.2M | $2.5M | $5.2M | $3.6M | $4.1M |
| Interest expense | $450.0K | $846.0K | $679.0K | $635.0K | $89.0K | — | — | — | — | — |
| Pre-tax income | -$3.2M | $3.5M | $11.0M | $10.1M | $8.4M | -$1.2M | $2.6M | $5.0M | $3.8M | $4.2M |
| Income tax | $695.0K | $563.0K | $1.7M | $1.7M | $1.1M | $336.0K | $282.0K | $2.0M | $2.9M | $1.5M |
| Net income | -$2.5M | $2.9M | $9.3M | $8.5M | $7.3M | -$895.0K | $2.3M | $3.0M | $975.0K | $2.7M |
| EPS, basic | -0.21 | 0.24 | 0.82 | 0.79 | 0.70 | -0.09 | 0.22 | 0.29 | 0.09 | 0.26 |
| EPS, diluted | -0.21 | 0.24 | 0.79 | 0.78 | 0.68 | -0.09 | 0.22 | 0.29 | 0.09 | 0.26 |
| Shares, diluted (wtd. avg.) | $12.2M | $12.2M | $11.8M | $10.9M | $10.7M | $10.3M | $10.4M | $10.4M | $10.3M | $10.3M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $14.2M | $19.8M | $45.3M | $13.4M | $21.2M | $10.3M | $7.6M | $17.9M | $13.3M | $28.6M |
| Receivables | $25.9M | $29.5M | $18.2M | $21.2M | $16.5M | $8.4M | $9.3M | $10.6M | $12.2M | $5.4M |
| Inventory | $31.6M | $26.8M | $20.1M | $22.6M | $12.9M | $7.5M | $7.2M | $6.5M | $5.0M | $3.7M |
| Total current assets | $78.6M | $78.8M | $85.8M | $60.1M | $52.1M | $27.0M | $24.9M | $35.6M | $31.0M | $38.0M |
| Property, plant and equipment | $4.8M | $4.5M | $3.2M | $3.1M | $2.7M | $2.4M | $2.4M | $2.7M | $1.5M | $944.0K |
| Goodwill | $32.4M | $30.7M | $21.7M | $21.6M | $21.4M | $13.7M | $13.7M | $13.7M | $13.7M | $1.7M |
| Other intangibles | $24.9M | $26.4M | $8.2M | $10.2M | $13.2M | $5.7M | $6.9M | $8.2M | $9.3M | $365.0K |
| Total assets | $151.3M | $152.3M | $134.8M | $110.1M | $103.9M | $62.0M | $59.7M | $67.2M | $62.5M | $42.8M |
| Accounts payable | $11.2M | $8.0M | $5.5M | $7.4M | $4.3M | $2.4M | $2.0M | $1.8M | $2.0M | $1.4M |
| Short-term debt | $6.1M | $7.5M | $4.1M | $4.1M | $4.1M | $0 | — | — | — | — |
| Total current liabilities | $35.8M | $31.9M | $24.3M | $26.9M | $25.1M | $8.9M | $8.4M | $21.4M | $14.4M | $5.1M |
| Long-term debt | $1.4M | $7.5M | $7.9M | $12.0M | $16.0M | $0 | — | — | — | — |
| Total liabilities | $47.7M | $52.5M | $38.5M | $45.1M | $49.1M | $17.3M | $14.9M | $24.3M | $23.2M | $5.1M |
| Retained earnings | $42.6M | $45.1M | $42.2M | $32.9M | $24.4M | $17.1M | $18.0M | $15.7M | $12.6M | $11.7M |
| Total equity | $103.6M | $99.8M | $96.3M | $65.0M | $54.8M | $44.8M | $44.8M | $42.9M | $39.3M | $37.8M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $7.3M | $3.8M | $16.2M | -$1.4M | $10.8M | $3.2M | -$8.4M | $11.0M | $7.2M | $4.3M |
| Depreciation and amortisation | $6.8M | $5.4M | $4.7M | $4.7M | $3.1M | $3.2M | $3.2M | $1.9M | $1.8M | $599.0K |
| Stock-based compensation | $1.6M | $1.9M | $2.0M | $1.8M | $1.4M | $671.0K | $884.0K | $653.0K | $344.0K | $269.0K |
| Capital expenditure | $1.6M | $1.3M | $1.3M | $1.4M | $994.0K | $658.0K | $620.0K | $2.2M | $745.0K | $339.0K |
| Investing cash flow | -$1.6M | -$20.1M | -$1.3M | -$1.2M | -$21.4M | -$648.0K | -$620.0K | -$6.3M | -$22.7M | -$339.0K |
| Financing cash flow | -$8.2M | -$8.6M | $15.6M | -$3.7M | $21.7M | -$74.0K | -$1.1M | — | -$62.0K | -$978.0K |
| Buybacks | $0 | $1.0M | $0 | — | $0 | $74.0K | $1.1M | — | $62.0K | $978.0K |
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 0001036262-26-000024.
Others in SIC 3825
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| TER | TERADYNE, INC | $55.82B | 102.9x | 13.1% |
| VLTO | Veralto Corp | $23.65B | 25.6x | 6.0% |
| ITRI | ITRON, INC. | $4.25B | 14.9x | -3.0% |
| AEHR | AEHR TEST SYSTEMS | $2.81B | — | -15.2% |
| COHU | COHU INC | $2.40B | — | 12.7% |
| ALNT | ALLIENT INC | $1.61B | 71.7x | 4.6% |
| TRNS | TRANSCAT INC | $800.1M | 150.0x | 19.2% |
| FEIM | FREQUENCY ELECTRONICS INC | $598.8M | — | -9.4% |