The company maintains a fortress balance sheet with a debt-to-equity ratio of 0.00 and a substantial cash position of $52.0M as of 2026Q1.
| Total Current Assets | 71.94M | 61.22M | 29.75M | 18.19M | 14.31M | 12.09M | 11.74M |
| Cash & Short-Term Investments | 51.96M | 20.89M | 12.64M | 3.91M | 926K | 2.63M | 2.46M |
| Cash Only | 51.96M | 20.89M | 12.64M | 3.91M | 926K | 2.63M | 2.46M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 8.08M | 28.99M | 6.84M | 4.8M | 5.2M | 4M | 3.95M |
| Days Sales Outstanding | 80.22 | 194.46 | 50.95 | 42.58 | 59.57 | 54.63 | 48.06 |
| Inventory | 10.35M | 9.67M | 9.51M | 8.88M | 7.52M | 5.22M | 5.11M |
| Days Inventory Outstanding | 112.95 | 116.64 | 131.61 | 132.88 | 133.86 | 109.79 | 94.64 |
| Other Current Assets | 1.55M | 1.66M | 0 | 0 | 673K | 242K | 0 |
| Total Non-Current Assets | 7.36M | 7.17M | 6.74M | 6.12M | 4.96M | 7.91M | 6.18M |
| Property, Plant & Equipment | 6.86M | 6.73M | 5.07M | 4.23M | 3.79M | 3.6M | 2.97M |
| Fixed Asset Turnover | 8.51x | 8.08x | 9.67x | 9.74x | 8.39x | 7.42x | 10.08x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 40K | 40K | 40K | 45K | 98K | 152K | 206K |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 114K | 123K | 1.63M | 1.84M | 16K | 1.97M | 3M |
| Total Assets | 79.3M | 68.38M | 36.49M | 24.3M | 19.27M | 20.01M | 17.92M |
| Asset Turnover | 0.98x | 0.80x | 1.34x | 1.69x | 1.65x | 1.33x | 1.67x |
| Asset Growth % | 271.23% | 87.41% | 50.13% | 26.11% | -3.66% | 11.65% | - |
| Total Current Liabilities | 6.12M | 4.89M | 5.22M | 4.38M | 4.86M | 3.01M | 2.81M |
| Accounts Payable | 0 | 0 | 1.42M | 1.3M | 2.38M | 1.4M | 1.21M |
| Days Payables Outstanding | 9.07 | - | 19.69 | 19.45 | 42.4 | 29.35 | 22.41 |
| Short-Term Debt | 0 | 0 | 0 | 0 | 71K | 0 | 0 |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 6.12M | 4.89M | 58K | 277K | 543K | 403K | 0 |
| Current Ratio | 11.76x | 12.52x | 5.70x | 4.15x | 2.95x | 4.01x | 4.18x |
| Quick Ratio | 10.07x | 10.54x | 3.88x | 2.12x | 1.40x | 2.28x | 2.36x |
| Cash Conversion Cycle | 184.09 | - | 162.87 | 156.01 | 151.03 | 135.06 | 120.29 |
| Total Non-Current Liabilities | 128K | 277K | 0 | 26K | 76K | 145K | 132K |
| Long-Term Debt | 128K | 148K | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 190K | 0 | 0 | 26K | 76K | 145K | 132K |
| Deferred Tax Liabilities | 129K | 129K | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Liabilities | 6.24M | 5.17M | 5.22M | 4.41M | 4.93M | 3.16M | 2.94M |
| Total Debt | 128K | 148K | 9K | 97K | 147K | 145K | 132K |
| Net Debt | -51.83M | -20.74M | -12.63M | -3.82M | -779K | -2.49M | -2.32M |
| Debt / Equity | 0.00x | 0.00x | 0.00x | 0.00x | 0.01x | 0.01x | 0.01x |
| Debt / EBITDA | 0.01x | 0.01x | 0.00x | 0.02x | 0.04x | 0.05x | 0.04x |
| Net Debt / EBITDA | -4.31x | -1.82x | -1.22x | -0.74x | -0.22x | -0.94x | -0.66x |
| Interest Coverage | - | - | - | - | 261.36x | 176.17x | 34.64x |
| Total Equity | 73.05M | 63.22M | 31.27M | 19.89M | 14.34M | 16.85M | 14.97M |
| Equity Growth % | 310.8% | 102.15% | 57.19% | 38.73% | -14.89% | 12.52% | - |
| Book Value per Share | 20.45 | 19.59 | 10.84 | 7.28 | 5.36 | 6.32 | 2.78 |
| Total Shareholders' Equity | 73.05M | 63.22M | 31.27M | 19.89M | 14.34M | 16.85M | 14.97M |
| Common Stock | 35K | 34K | 28K | 27K | 27K | 0 | 14.97M |
| Retained Earnings | 22.17M | 19.78M | 11.34M | 3.7M | 212K | 0 | 0 |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | 16.85M | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Defense budget appropriation timing
According to quarterly financial statements, MPTI has significantly bolstered its balance sheet, with total assets expanding from $24.3M in 2023Q4 to $79.3M in 2026Q1, reflecting a consistent trajectory of value creation as the company scales its specialized defense electronics operations as a standalone entity.
The consistent growth in total assets, primarily driven by cash accumulation and retained earnings, suggests that the company is successfully converting its high-margin defense contracts into tangible balance sheet strength. This trajectory indicates a maturing business model that is increasingly capable of self-funding its operational requirements without reliance on external capital markets.
As reported in recent filings, MPTI maintains a robust liquidity position with a current ratio of 11.76 as of 2026Q1, supported by a cash balance of $52.0M, which provides a substantial buffer against the inherent lumpiness of government-funded defense program milestones and procurement cycles.
The exceptionally high current ratio suggests that the company is operating with a conservative liquidity profile, likely intended to mitigate risks associated with long-cycle defense projects. This liquidity cushion appears more than sufficient to cover short-term obligations, providing management with significant flexibility to pursue strategic investments or navigate potential supply chain disruptions.
Based on the company's reported figures, equity has grown steadily to $73.1M in 2026Q1, with retained earnings rising from $3.7M in 2023Q4 to $22.2M, signaling that the firm's capital base is increasingly supported by internally generated profits rather than dilutive equity financing or external debt.
The consistent expansion of retained earnings underscores the profitability of MPTI's specialized RF and frequency control business model. This trend suggests that the company is effectively reinvesting its earnings to support growth, which enhances the quality of the equity base and reduces the need for future share issuance.
Financial data confirms that MPTI maintains a debt-to-equity ratio of 0.00 as of 2026Q1, with total debt remaining negligible at $128.0K, which positions the company as a rare debt-free operator within the capital-intensive defense electronics and hardware manufacturing sector.
The absence of meaningful debt suggests that the company is not burdened by interest expenses, allowing it to retain a larger portion of its operating income. This financial structure appears to be a strategic choice that insulates the firm from interest rate volatility and provides a distinct competitive advantage when bidding for long-term defense programs.
Quick answers to the most common questions about buying MPTI stock.
As of 2025, M-tron Industries, Inc. (MPTI) had total assets of $68.4M including $61.2M in current assets.
M-tron Industries, Inc. (MPTI) carries total debt of $0.1M, offset by $20.9M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
M-tron Industries, Inc. (MPTI) has total shareholders' equity (book value) of $63.2M ($19.59 book value per share). Book value represents the net worth of the company belonging to common stock holders.
M-tron Industries, Inc. (MPTI) reported a current ratio of 12.52x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.