TECHPRECISION CORP TPCS
We are a manufacturer of precision, large-scale fabricated and machined metal structural components and systems. We offer a full range of services required to transform raw materials into precision finished products. We sell these finished products to customers in two main industry groups: defense and precision industrial. Our mission is to be a leading end-to-end service provider to our customers by furnishing custom, fully integrated solutions for complete products that require custom fabrication, precision machining, assembly, integration, inspection, non-destructive evaluation, and testing.
We work with our customers to manufacture products in accordance with the customers' drawings and specifications. Our work complies with specific national and international codes and standards applicable to our industry. We believe that we have earned our reputation through outstanding technical expertise, attention to detail, and a total commitment to quality and excellence in customer service.
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 | $31.6M | $34.0M | $31.6M | $31.4M | $22.3M | $15.6M | $16.0M | $16.7M | $18.8M | $18.6M |
| Cost of revenue | $26.7M | $29.7M | $27.5M | $26.5M | $18.9M | $12.1M | $12.9M | $12.1M | $14.8M | $12.5M |
| Gross profit | $5.0M | $4.3M | $4.1M | $4.9M | $3.4M | $3.5M | $3.1M | $4.6M | $4.0M | $6.1M |
| R&D | — | — | — | — | — | — | — | — | — | $0 |
| SG&A | $6.0M | $6.5M | $8.8M | $6.0M | $4.9M | $2.8M | $2.8M | $2.7M | $3.0M | $4.3M |
| Operating income | -$1.1M | -$2.2M | -$4.6M | -$1.1M | -$1.6M | $623.2K | -$141.3K | $1.8M | $967.3K | $2.9M |
| Interest expense | $485.0K | $541.0K | $521.0K | $355.6K | $269.4K | $202.3K | $296.1K | $354.8K | $413.0K | $644.0K |
| Pre-tax income | -$1.6M | -$2.8M | -$5.1M | -$783.4K | -$542.2K | $425.5K | -$414.6K | $1.5M | $558.6K | $2.2M |
| Income tax | $31.0K | $2.0K | $1.9M | $195.6K | $192.4K | $104.9K | $73.0K | $423.4K | $824.5K | $2.8M |
| Net income | -$1.7M | -$2.7M | -$7.0M | -$979.0K | -$349.8K | $320.6K | — | $1.1M | — | — |
| EPS, basic | -0.17 | -0.29 | -0.81 | -0.11 | -0.04 | 0.01 | -0.01 | 0.04 | -0.01 | 0.18 |
| EPS, diluted | -0.17 | -0.29 | -0.81 | -0.11 | -0.04 | 0.01 | -0.01 | 0.04 | -0.01 | 0.18 |
| Shares, diluted (wtd. avg.) | $9.9M | $9.5M | $8.7M | $8.6M | $8.1M | $31.0M | $29.3M | $30.3M | $28.8M | $28.6M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $431.0K | $195.0K | $138.0K | $534.0K | $1.1M | $2.1M | $930.9K | $2.0M | $2.7M | $3.1M |
| Receivables | $2.5M | $2.2M | $2.4M | $2.3M | $3.0M | $608.1K | $990.3K | $1.0M | $1.4M | $1.9M |
| Inventory | — | — | — | — | — | — | $1.2M | $1.2M | $2.1M | — |
| Total current assets | $17.7M | $15.3M | $14.8M | $14.6M | $16.1M | $9.9M | $8.2M | $9.2M | $7.0M | $7.6M |
| Property, plant and equipment | $10.9M | $13.8M | $14.8M | $13.9M | $13.2M | $4.1M | $4.2M | $4.9M | $5.2M | $4.9M |
| Total assets | $32.3M | $33.5M | $34.7M | $36.2M | $37.9M | $16.0M | $14.6M | $16.0M | $14.3M | $15.5M |
| Accounts payable | $2.4M | $2.4M | $1.4M | $2.2M | $3.4M | $500.8K | $185.1K | $609.1K | $345.7K | $365.3K |
| Total current liabilities | $18.2M | $16.9M | $17.8M | $9.0M | $13.3M | $4.7M | $2.7M | $2.9M | $2.1M | $2.6M |
| Long-term debt | — | $3.0K | — | $4.7M | $3.1M | $1.3M | — | — | — | — |
| Total liabilities | $24.6M | $24.8M | $26.9M | $21.6M | $22.6M | $6.1M | — | — | — | — |
| Retained earnings | -$11.8M | -$10.1M | -$7.4M | -$356.4K | $622.6K | $972.4K | $651.8K | $993.3K | -$576.6K | -$310.7K |
| Total equity | $7.7M | $8.7M | $7.8M | $14.6M | $15.3M | $9.9M | $9.5M | $9.7M | $8.0M | $8.0M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $6.0K | -$599.0K | $728.0K | $3.1M | $257.8K | $635.9K | $676.8K | $531.3K | $1.3M | $1.7M |
| Depreciation and amortisation | $2.8M | $2.8M | $2.4M | $2.2M | $1.5M | $704.0K | $717.6K | $749.8K | $704.3K | $689.3K |
| Stock-based compensation | $635.0K | $103.0K | $285.0K | $253.1K | $190.8K | $179.9K | $90.9K | $137.4K | $303.2K | $1.2M |
| Capital expenditure | $3.3M | $4.1M | $3.2M | $2.3M | $939.0K | $546.9K | $39.8K | $446.7K | $994.5K | $787.8K |
| Investing cash flow | $868.0K | -$1.1M | -$2.6M | -$2.3M | -$8.7M | -$607.9K | -$39.8K | -$411.3K | -$914.5K | -$787.8K |
| Financing cash flow | -$638.0K | $1.7M | $1.5M | -$1.3M | $7.4M | $1.2M | -$1.7M | -$772.6K | -$717.5K | $792.4K |
| Buybacks | — | — | — | — | — | — | $0 | $188.6K | $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 0001104659-26-104865.
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