Optex Systems Holdings Inc OPXS
manufacture optical sighting systems and assemblies for the U.S. Department of Defense ("DoD"), foreign military applications,
commercial markets, and consumer markets. Our products are installed on a variety of U.S. military land vehicles, such as the Abrams
and Bradley fighting vehicles, light armored and advanced security vehicles and the Stryker family of vehicles. We also manufacture and
deliver numerous periscope configurations, rifle and surveillance sights and night vision optical assemblies. Our products consist primarily
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 | $41.3M | $34.0M | $25.7M | $22.4M | $18.2M | $25.9M | $24.5M | $20.9M | $18.5M | $17.3M |
| Cost of revenue | $29.3M | $24.5M | $19.0M | $17.5M | $15.7M | $19.8M | $18.3M | $16.3M | $15.1M | $14.2M |
| Gross profit | $12.1M | $9.5M | $6.6M | $4.9M | $2.5M | $6.1M | $6.3M | $4.5M | $3.4M | $3.1M |
| SG&A | $4.9M | $4.7M | $3.8M | $3.2M | $3.0M | $3.2M | $3.1M | $3.0M | $3.2M | $4.0M |
| Operating income | $7.1M | $4.8M | $2.8M | $1.6M | -$494.0K | $2.9M | $3.2M | $1.5M | $204.0K | -$911.0K |
| Interest expense | $23.0K | $47.0K | $55.0K | — | $11.0K | $19.0K | $23.0K | $20.0K | $19.0K | $36.0K |
| Pre-tax income | $6.4M | $4.8M | $2.7M | $1.6M | $2.0M | $2.4M | $4.5M | $1.6M | -$304.0K | -$208.0K |
| Income tax | $1.2M | $1.0M | $469.0K | $364.0K | $101.0K | $531.0K | $1.1M | $167.0K | $0 | $0 |
| Net income | $5.1M | $3.8M | $2.3M | $1.3M | $2.1M | $1.8M | $5.7M | $1.4M | -$304.0K | -$208.0K |
| EPS, basic | 0.75 | 0.56 | 0.34 | 0.16 | 0.18 | 0.14 | 0.45 | — | — | — |
| EPS, diluted | 0.74 | 0.55 | 0.34 | 0.16 | 0.18 | 0.14 | 0.45 | 0.11 | -0.06 | -0.91 |
| Shares, diluted (wtd. avg.) | $6.9M | $6.8M | $6.7M | $8.2M | $8.3M | $8.6M | $8.5M | $8.8M | $8.0M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $6.4M | $1.0M | $1.2M | $934.0K | $3.9M | $4.7M | $1.1M | $1.1M | $1.7M | $2.6M |
| Receivables | $4.6M | $3.8M | $3.6M | $2.9M | $3.2M | $3.0M | $3.1M | $2.5M | $3.1M | $2.1M |
| Inventory | $14.3M | $14.9M | $12.2M | $9.2M | $7.6M | $8.8M | $10.5M | $7.6M | $7.6M | $6.2M |
| Total current assets | $25.7M | $20.1M | $17.5M | $13.4M | $14.9M | $16.7M | $15.0M | $11.3M | $12.5M | $11.0M |
| Property, plant and equipment | $1.4M | $1.3M | $998.0K | $968.0K | $1.0M | $1.0M | $1.1M | $1.3M | $1.5M | $1.7M |
| Other intangibles | — | $951.0K | — | — | — | — | — | — | — | — |
| Total assets | $30.1M | $25.5M | $22.2M | $18.5M | $20.9M | $20.3M | $17.6M | $12.7M | $14.0M | $12.8M |
| Accounts payable | $1.5M | $1.2M | $810.0K | $706.0K | $551.0K | $833.0K | $1.8M | $943.0K | $1.4M | $706.0K |
| Total current liabilities | $4.6M | $5.0M | $4.1M | $3.4M | $2.0M | $5.0M | $3.3M | $2.8M | $4.5M | $2.4M |
| Total liabilities | $5.8M | $6.7M | $7.4M | $6.1M | $5.1M | $6.4M | $5.3M | $6.3M | $8.1M | $5.5M |
| Retained earnings | $2.5M | -$2.7M | -$6.4M | -$8.7M | -$10.0M | -$12.1M | -$13.9M | -$19.6M | -$20.5M | -$19.6M |
| Total equity | $24.3M | $18.8M | $14.9M | $12.4M | $15.7M | $14.0M | $12.2M | $6.3M | $5.9M | $7.2M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $6.9M | $1.8M | -$296.0K | $2.0M | $481.0K | $3.9M | $160.0K | $1.0M | $16.0K | -$539.0K |
| Depreciation and amortisation | $515.0K | $487.0K | $345.0K | $307.0K | $263.0K | $248.0K | $340.0K | $327.0K | $337.0K | $345.0K |
| Stock-based compensation | $383.0K | $425.0K | $247.0K | $162.0K | $228.0K | $197.0K | $113.0K | $153.0K | $220.0K | $192.0K |
| Capital expenditure | $494.0K | $681.0K | $376.0K | $257.0K | $274.0K | $152.0K | $143.0K | $167.0K | $149.0K | $34.0K |
| Investing cash flow | -$504.0K | -$1.7M | -$376.0K | -$257.0K | -$274.0K | -$152.0K | -$135.0K | -$167.0K | -$108.0K | -$30.0K |
| Financing cash flow | -$1.0M | -$245.0K | $942.0K | -$4.8M | -$1.0M | -$127.0K | -$90.0K | -$1.4M | -$794.0K | $2.5M |
| Dividends paid | — | — | — | — | — | — | — | $784.0K | $261.0K | — |
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 0001493152-25-028071.
Others in SIC 3827
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| KLAC | KLA CORP | $242.50B | 50.7x | 11.7% |
| COHR | COHERENT CORP. | $55.20B | 68.4x | 22.5% |
| OPTX | SYNTEC OPTICS HOLDINGS, INC. | $304.9M | — | -1.3% |
| MSAI | MultiSensor AI Holdings, Inc. | $10.7M | — | -25.0% |
| CAMT | CAMTEK LTD | — | — | 15.6% |
| NVMI | NOVA LTD. | — | — | 31.0% |