STANDEX INTERNATIONAL CORP/DE/ SXI
Standex International Corporation and subsidiaries ("we," "us," "our," the "Company" and "Standex") is a diversified industrial manufacturer with leading positions in a variety of products and services that are used in diverse commercial and industrial markets. Headquartered in Salem, New Hampshire, we have four operating and reportable segments: Electronics, Aerospace and Defense (A&D), Scientific and Engraving & Hydraulics. Our businesses work in close partnership with our customers to deliver custom solutions or engineered components that solve their unique and specific needs, an approach we call "Customer Intimacy."
Standex was incorporated in 1975 and is the successor of a corporation organized in 1955. We have paid dividends each quarter since Standex became a public corporation in November 1964. Overall management, strategic development and financial control are led by the executive staff at our corporate headquarters. Our growth strategy is focused on four key areas: (1) Increasing our presence in rapidly growing markets and applications (2) executing new product development in both core and adjacent market applications; (3) expanding geographically where meaningful business opportunities exist; and (4) undertaking strategically aligned acquisitions that strengthen and/or expand our core businesses. We direct our investments towards markets with long term, secular growth prospects such as power grid, military and defense, commercial space, life sciences, renewable energy, and electric vehicles.
Valuation FY2026 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $891.6M | $790.1M | $720.6M | $741.0M | $735.3M | $656.2M | $604.5M | $639.9M | $595.5M | $647.9M |
| Cost of revenue | $519.6M | $474.9M | $438.6M | $456.0M | $465.4M | $415.0M | $389.1M | $405.3M | $369.5M | $432.3M |
| Gross profit | $372.0M | $315.2M | $282.0M | $285.1M | $269.9M | $241.3M | $215.5M | $234.7M | $226.0M | $215.6M |
| R&D | $24.2M | $21.2M | $20.5M | — | — | — | — | — | — | — |
| SG&A | $219.3M | $193.4M | $169.6M | $172.3M | $169.9M | $163.1M | $148.5M | $150.3M | $140.7M | $145.0M |
| Total operating expenses | $698.8M | $636.8M | $576.0M | — | — | — | — | — | — | — |
| Operating income | $193.6M | $93.5M | $101.7M | $171.1M | $88.3M | $59.2M | $60.5M | $79.5M | $78.1M | $56.9M |
| Interest expense | $30.7M | $23.9M | $4.5M | $5.4M | $5.9M | $6.0M | $7.5M | $10.8M | $8.0M | $4.0M |
| Pre-tax income | $162.9M | $68.8M | $95.1M | $163.9M | $81.3M | $52.7M | $54.1M | $67.0M | $68.4M | $51.0M |
| Income tax | $34.3M | $11.1M | $21.5M | $24.8M | $19.8M | $14.2M | $13.1M | $18.7M | $38.0M | $11.8M |
| Net income | $104.6M | $57.7M | $73.1M | $139.0M | $61.4M | $36.5M | $20.2M | $67.9M | $36.6M | $46.5M |
| EPS, basic | 8.69 | 4.68 | 6.22 | 11.77 | 5.13 | 3.00 | 1.64 | 5.40 | 2.88 | 3.68 |
| EPS, diluted | 8.67 | 4.64 | 6.14 | 11.58 | 5.06 | 2.97 | 1.63 | 5.38 | 2.86 | 3.65 |
| Shares, diluted (wtd. avg.) | $12.1M | $12.0M | $11.9M | $12.0M | $12.1M | $12.3M | $12.4M | $12.6M | $12.8M | $12.8M |
Balance sheet
| Fiscal year | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $178.7M | $104.5M | $154.2M | $195.7M | $104.8M | $136.4M | $118.8M | $93.1M | $109.6M | $88.6M |
| Receivables | $172.9M | $172.7M | $123.4M | $123.4M | $117.1M | $109.9M | $98.2M | $103.4M | $119.8M | $127.1M |
| Inventory | $129.0M | $130.0M | $87.1M | $98.5M | $105.3M | $91.9M | $85.0M | $76.3M | $104.3M | $119.4M |
| Total current assets | $551.8M | $480.9M | $430.1M | $483.3M | $379.0M | $374.4M | $332.0M | $333.9M | $384.0M | $360.9M |
| Property, plant and equipment | $153.0M | $160.4M | $135.0M | $130.9M | $128.6M | $133.4M | $132.5M | $134.2M | $136.9M | $133.2M |
| Goodwill | $581.6M | $610.3M | $281.3M | $264.8M | $267.9M | $278.1M | $271.2M | $273.8M | $204.1M | $242.7M |
| Other intangibles | $199.5M | $225.8M | $78.7M | $75.7M | $85.8M | $98.9M | $106.4M | $118.7M | $84.9M | $102.5M |
| Total assets | $1.59B | $1.57B | $1.01B | $1.02B | $934.4M | $962.2M | $930.9M | $921.9M | $916.9M | $867.7M |
| Accounts payable | $80.1M | $88.0M | $63.4M | $68.6M | $74.5M | $74.8M | $54.9M | $54.2M | $78.9M | $96.5M |
| Total current liabilities | $229.5M | $167.0M | $127.6M | $141.0M | $150.8M | $143.7M | $122.9M | $141.6M | $161.3M | $160.0M |
| Long-term debt | $518.0M | $552.5M | $148.9M | $173.4M | $174.8M | $199.5M | $199.2M | $197.6M | $193.8M | $192.0M |
| Retained earnings | $1.22B | $1.13B | $1.09B | $1.03B | $901.4M | $852.5M | $827.7M | $818.3M | $761.4M | $716.6M |
| Total equity | $755.2M | $711.7M | $621.5M | $607.4M | $499.3M | $506.4M | $461.6M | $464.3M | $450.8M | $408.7M |
Cash flow
| Fiscal year | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $89.6M | $69.6M | $92.7M | $90.8M | $77.7M | $83.6M | $47.2M | $73.3M | $64.9M | $63.4M |
| Depreciation and amortisation | $38.7M | $35.4M | $28.1M | $28.5M | $29.7M | $33.2M | $32.3M | $29.3M | $25.0M | $17.8M |
| Stock-based compensation | — | — | — | — | — | — | — | — | — | $5.0M |
| Capital expenditure | $25.2M | $28.3M | $20.3M | $24.3M | $23.9M | $21.8M | $21.5M | $32.5M | $23.6M | — |
| Investing cash flow | $43.1M | -$503.4M | -$61.6M | $41.6M | -$31.0M | -$39.1M | -$617.0K | -$49.7M | -$32.3M | -$179.1M |
| Financing cash flow | -$56.6M | $380.5M | -$69.2M | -$40.0M | -$69.4M | -$31.7M | -$19.0M | -$38.2M | -$11.9M | $84.7M |
| Dividends paid | $16.2M | $15.0M | $13.9M | $13.0M | $12.2M | $11.4M | $10.6M | $9.8M | $8.9M | $7.9M |
| Buybacks | $4.4M | $9.9M | $31.8M | $25.5M | $31.4M | $21.2M | $10.4M | $33.4M | $2.7M | $7.8M |
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 0001437749-26-029660.
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