Latest Ratios: P/E Ratio -149.3x · EV/EBITDA 20.5x · ROE -0.7%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $38M | $21M | $28M | $27M | $35M | $29M | $19M | $13M | $10M | $11M | $11M |
| Enterprise Value | $52M | $35M | $46M | $40M | $51M | $49M | $40M | $34M | $23M | $24M | $24M |
| P/E Ratio → | -149.34 | — | — | 3.96 | 17.50 | 4.07 | — | — | 57.72 | — | 194.50 |
| P/S Ratio | 0.32 | 0.17 | 0.22 | 0.20 | 0.26 | 0.25 | 0.18 | 0.11 | 0.08 | 0.09 | 0.09 |
| P/B Ratio | 1.09 | 0.60 | 0.83 | 0.77 | 1.26 | 1.12 | 1.02 | 0.65 | 0.45 | 0.53 | 0.48 |
| P/FCF | 18.20 | 9.91 | — | 56.05 | 11.96 | — | 22.58 | 54.31 | 9.22 | — | 6.78 |
| P/OCF | 13.81 | 7.52 | — | 15.37 | 6.56 | — | 13.98 | 13.02 | 3.92 | 13.14 | 3.03 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.29 | 0.36 | 0.29 | 0.38 | 0.42 | 0.39 | 0.29 | 0.20 | 0.22 | 0.21 |
| EV / EBITDA | 20.54 | 13.71 | 29.49 | 5.05 | 8.77 | 11.55 | 309.08 | 13.73 | 6.71 | 21.09 | 8.27 |
| EV / EBIT | 41.86 | 35.57 | — | 6.79 | 13.09 | 5.78 | — | 149.87 | 18.48 | — | 38.47 |
| EV / FCF | — | 16.66 | — | 83.30 | 17.19 | — | 47.97 | 140.47 | 22.19 | — | 15.34 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 15.2% | 15.2% | 13.1% | 16.6% | 15.3% | 13.8% | 8.1% | 10.8% | 11.7% | 10.8% | 11.9% |
| Operating Margin | 1.0% | 1.0% | -0.2% | 4.3% | 2.9% | 2.0% | -2.0% | 0.2% | 1.1% | -1.1% | 0.5% |
| Net Profit Margin | -0.2% | -0.2% | -1.0% | 4.9% | 1.5% | 6.2% | -1.5% | -1.1% | 0.1% | -2.2% | 0.0% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -0.7% | -0.7% | -3.7% | 21.7% | 7.4% | 31.9% | -8.0% | -6.0% | 0.8% | -11.6% | 0.2% |
| ROA | -0.3% | -0.3% | -1.8% | 9.5% | 2.9% | 11.5% | -2.6% | -2.0% | 0.3% | -4.5% | 0.1% |
| ROIC | 1.9% | 1.9% | -0.3% | 9.7% | 6.5% | 4.0% | -3.8% | 0.4% | 2.7% | -2.7% | 1.3% |
| ROCE | 2.7% | 2.7% | -0.4% | 13.0% | 8.8% | 5.5% | -5.3% | 0.6% | 3.6% | -3.7% | 1.7% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.45 | 0.45 | 0.53 | 0.40 | 0.59 | 0.77 | 1.16 | 1.05 | 0.66 | 0.72 | 0.62 |
| Debt / EBITDA | 6.21 | 6.21 | 11.69 | 1.77 | 2.84 | 4.79 | 166.31 | 8.57 | 4.07 | 12.32 | 4.71 |
| Net Debt / Equity | — | 0.41 | 0.50 | 0.37 | 0.55 | 0.75 | 1.15 | 1.03 | 0.64 | 0.69 | 0.61 |
| Net Debt / EBITDA | 5.56 | 5.56 | 11.10 | 1.65 | 2.67 | 4.64 | 163.62 | 8.42 | 3.93 | 11.91 | 4.62 |
| Debt / FCF | — | 6.75 | — | 27.25 | 5.23 | — | 25.40 | 86.16 | 12.98 | — | 8.56 |
| Interest Coverage | 1.01 | 1.01 | -0.26 | 12.22 | 9.46 | 19.63 | -0.99 | 0.21 | 1.65 | -2.30 | 1.14 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.88 | 1.88 | 2.58 | 2.21 | 2.08 | 2.32 | 2.10 | 1.95 | 1.84 | 2.09 | 1.94 |
| Quick Ratio | 1.19 | 1.19 | 1.57 | 1.40 | 1.23 | 1.45 | 1.39 | 1.30 | 1.16 | 1.07 | 0.93 |
| Cash Ratio | 0.06 | 0.06 | 0.04 | 0.04 | 0.04 | 0.03 | 0.02 | 0.02 | 0.02 | 0.03 | 0.01 |
| Asset Turnover | — | 1.65 | 1.77 | 1.85 | 1.93 | 1.72 | 1.81 | 1.89 | 1.89 | 2.16 | 2.10 |
| Inventory Turnover | 4.85 | 4.85 | 5.15 | 5.37 | 5.06 | 5.11 | 6.87 | 7.27 | 5.88 | 5.41 | 4.98 |
| Days Sales Outstanding | — | 99.24 | 81.66 | 88.44 | 77.85 | 90.18 | 75.46 | 82.26 | 85.40 | 57.34 | 54.83 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | 25.3% | 5.7% | 24.5% | — | — | 1.7% | — | 0.5% |
| FCF Yield | 5.5% | 10.1% | — | 1.8% | 8.4% | — | 4.4% | 1.8% | 10.9% | — | 14.8% |
| Buyback Yield | 0.0% | 0.0% | 0.4% | 0.0% | 0.0% | 0.0% | 0.0% | 1.0% | 2.9% | 0.3% | 0.0% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.4% | 0.0% | 0.0% | 0.0% | 0.0% | 1.0% | 2.9% | 0.3% | 0.0% |
| Shares Outstanding | — | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $3M |
Liquidity and Program Concentration
According to recent market data, Nortech's P/S ratio of 0.39 suggests that investors are heavily discounting the firm's future revenue potential, likely due to the persistent -7.62% contraction in top-line performance and the absence of a clear path toward sustainable, profitable growth in the near term.
The negative P/E ratio of -180.84 underscores the company's current inability to generate consistent earnings, making traditional valuation metrics less useful than EV/EBITDA. At an EV/EBITDA of 23.70, the company appears expensive relative to its operational output, suggesting that the market may be pricing in a recovery that is not yet supported by the underlying financial trajectory.
Based on reported figures, Nortech's ROIC has struggled to maintain positive territory, oscillating near 0.1% in 2026Q1, which indicates that the company is failing to generate returns on invested capital that exceed its cost of capital, thereby eroding shareholder value rather than compounding it over time.
The decay in ROIC from 4.4% in 2023Q4 to near-zero levels highlights a structural inefficiency in how the company deploys its asset base. This trend suggests that the high-mix, low-volume manufacturing model is currently unable to achieve the scale necessary to drive meaningful returns, warranting further investigation into whether current capital allocation is sustainable.
As reported in financial statements, the Cash Conversion Cycle has expanded to 128 days in 2026Q1, reflecting a significant deterioration in working capital efficiency compared to the 101-day cycle observed in 2023Q4, which places additional strain on the company's already limited cash reserves and operational flexibility.
The increase in Days Sales Outstanding (DSO) to 98 days suggests that the company may be facing collection delays or is forced to offer extended payment terms to retain key OEM customers. This inefficiency in converting sales to cash, combined with high inventory days, implies that the company's operational leverage is being undermined by trapped working capital.
According to recent SEC filings, Nortech's quick ratio of 1.12 indicates a precarious liquidity position, as the company's ability to meet short-term obligations is heavily dependent on the liquidation of inventory that may be subject to obsolescence risks within its specialized medical and aerospace program portfolio.
With cash reserves at a minimal $1.6M, the company lacks the financial cushion to absorb unexpected production disruptions or program cancellations. Investors should monitor the current ratio closely, as any further decline in asset quality or increase in short-term liabilities could rapidly transition the company into a liquidity crisis.
The current ratio is the most commonly misapplied metric for Nortech, as it obscures the underlying liquidity risk by including potentially illiquid inventory and unbilled receivables that are tied to specific, non-fungible customer programs, rather than reflecting true, readily available cash for operational continuity.
Analysts should instead prioritize the Quick Ratio or a 'Cash-to-Burn' analysis to better understand the company's actual runway. Relying on the current ratio provides a false sense of security, as it fails to account for the high probability that a significant portion of current assets cannot be converted to cash during a period of program-specific demand volatility.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying NSYS stock.
Nortech Systems Incorporated's current P/E ratio is -149.3x. The historical average is 25.2x.
Nortech Systems Incorporated's current EV/EBITDA is 20.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 9.2x.
Nortech Systems Incorporated's return on equity (ROE) is -0.7%. The historical average is 4.3%.
Based on historical data, Nortech Systems Incorporated is trading at a P/E of -149.3x. Compare with industry peers and growth rates for a complete picture.
Nortech Systems Incorporated has 15.2% gross margin and 1.0% operating margin.
Nortech Systems Incorporated's Debt/EBITDA ratio is 6.2x, indicating high leverage. A ratio above 4x may signal elevated financial risk.