Revenue has contracted to $25.8M in 2026Q1, while gross margins have deteriorated to a thin 3.2%, suggesting limited pricing power.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 | Dec'97 | Dec'96 |
|---|
| Sales/Revenue | 116.19M | 119.89M | 140.18M | 136.22M | 110.12M | 97.43M | 82.35M | 87.89M | 87.97M | 82.29M | 91.8M | 145.32M | 354.78M | 310.71M | 341.6M | 335.63M | 266.65M | 265.9M | 411.32M | 435.92M | 497.66M | 522.77M | 425.4M | 276.61M | 273.48M | 254.64M | 216.57M | 202.13M | 211.6M | 113.4M | 224.7M |
| Revenue Growth % | -13.38% | -14.48% | 2.9% | 23.7% | 13.02% | 18.32% | -6.31% | -0.09% | 6.9% | -10.35% | -36.83% | -59.04% | 14.18% | -9.04% | 1.78% | 25.87% | 0.28% | -35.35% | -5.64% | -12.41% | -4.8% | 22.89% | 53.79% | 1.14% | 7.4% | 17.58% | 7.14% | -4.48% | 86.6% | -49.53% | -17.87% |
| Cost of Goods Sold | 109.34M | 110.49M | 120.29M | 118.97M | 95.27M | 82.93M | 70.29M | 78.01M | 80.4M | 79.31M | 91.05M | 145M | 315.95M | 280.66M | 297.86M | 300.4M | 240.79M | 249.88M | 379.15M | 396.12M | 456.57M | 471.43M | 373.25M | 230.59M | 223.96M | 211.09M | 168.34M | 150.59M | 157.8M | 108.4M | 212.7M |
| COGS % of Revenue | - | 92.16% | 85.81% | 87.34% | 86.51% | 85.11% | 85.36% | 88.76% | 91.39% | 96.38% | 99.18% | 99.78% | 89.06% | 90.33% | 87.19% | 89.5% | 90.3% | 93.98% | 92.18% | 90.87% | 91.74% | 90.18% | 87.74% | 83.37% | 81.89% | 82.9% | 77.73% | 74.5% | 74.57% | 95.59% | 94.66% |
| Gross Profit | 6.85M | 9.4M | 19.89M | 17.25M | 14.85M | 14.51M | 12.05M | 9.88M | 7.57M | 2.98M | 749K | 318K | 38.83M | 30.05M | 43.75M | 35.23M | 25.87M | 16.02M | 32.17M | 39.8M | 41.09M | 51.34M | 52.16M | 46.01M | 49.52M | 43.55M | 48.23M | 51.55M | 53.8M | 5M | 12M |
| Gross Margin % | 5.9% | 7.84% | 14.19% | 12.66% | 13.49% | 14.89% | 14.64% | 11.24% | 8.61% | 3.62% | 0.82% | 0.22% | 10.94% | 9.67% | 12.81% | 10.5% | 9.7% | 6.02% | 7.82% | 9.13% | 8.26% | 9.82% | 12.26% | 16.63% | 18.11% | 17.1% | 22.27% | 25.5% | 25.43% | 4.41% | 5.34% |
| Gross Profit Growth % | - | -52.75% | 15.32% | 16.12% | 2.39% | 20.36% | 21.95% | 30.52% | 153.92% | 298.13% | 135.53% | -99.18% | 29.21% | -31.31% | 24.18% | 36.19% | 61.49% | -50.21% | -19.17% | -3.15% | -19.96% | -1.57% | 13.35% | -7.09% | 13.72% | -9.71% | -6.44% | -4.19% | 976% | -58.33% | 20% |
| Operating Expenses | 16.93M | 16M | 16.96M | 16.28M | 14.49M | 12.6M | 11.96M | 14.19M | 10.47M | 13.17M | 22.34M | 28.62M | 36.11M | 33.54M | 34.7M | 28.81M | 30.98M | 31.11M | 45.86M | 40.62M | 41.23M | 39.17M | 39.54M | 31.07M | 30.57M | 30.52M | 39.81M | 37.38M | 41M | 10.4M | 17M |
| OpEx % of Revenue | - | 13.35% | 12.1% | 11.95% | 13.16% | 12.93% | 14.53% | 16.14% | 11.91% | 16% | 24.33% | 19.7% | 10.18% | 10.79% | 10.16% | 8.59% | 11.62% | 11.7% | 11.15% | 9.32% | 8.28% | 7.49% | 9.29% | 11.23% | 11.18% | 11.98% | 18.38% | 18.49% | 19.38% | 9.17% | 7.57% |
| Selling, General & Admin | 12.91M | 16M | 0 | 0 | 0 | 12.6M | 0 | 0 | 10.47M | 13.13M | 22.01M | 27.84M | 35.53M | 30.46M | 30.8M | 28.32M | 27.72M | 28.19M | 41.45M | 40.52M | 38.59M | 35.67M | 35.25M | 26.71M | 27.11M | 26.13M | 26.88M | 23.39M | 28.2M | 6.5M | 11.8M |
| SG&A % of Revenue | - | 13.35% | - | - | - | 12.93% | - | - | 11.91% | 15.95% | 23.97% | 19.16% | 10.02% | 9.8% | 9.02% | 8.44% | 10.4% | 10.6% | 10.08% | 9.29% | 7.75% | 6.82% | 8.29% | 9.66% | 9.91% | 10.26% | 12.41% | 11.57% | 13.33% | 5.73% | 5.25% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 38K | 330K | 779K | 579K | 3.05M | 3.82M | 3.4M | 3.15M | 2.8M | 4.2M | 2.82M | 1.99M | 2.83M | 3.7M | 4.17M | 3.35M | 3.05M | 3.57M | 6.41M | 5.9M | 100K | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | 0.05% | 0.36% | 0.54% | 0.16% | 0.98% | 1.12% | 1.01% | 1.18% | 1.05% | 1.02% | 0.65% | 0.4% | 0.54% | 0.87% | 1.51% | 1.23% | 1.2% | 1.65% | 3.17% | 2.79% | 0.09% | - |
| Other Operating Expenses | 1000K | 0 | 16.96M | 16.28M | 14.49M | 0 | 11.96M | 14.19M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -2.9M | 113K | 114K | 213K | -2.72M | 645K | 664K | 596K | 194K | 97K | 1.33M | 9.35M | 7.58M | 6.9M | 3.8M | 5.2M |
| Operating Income | -10.08M | -6.61M | 2.93M | 969K | 364K | 1.91M | 90K | -4.31M | -4.3M | -12.54M | -22.76M | -29.64M | 2.72M | -10.39M | 9.05M | 6.18M | -7.41M | -22.79M | -59.22M | -823K | -135K | 12.22M | 12.61M | 14.94M | 18.96M | 13.03M | 8.42M | 14.17M | 12.8M | -5.4M | -5M |
| Operating Margin % | -8.67% | -5.51% | 2.09% | 0.71% | 0.33% | 1.96% | 0.11% | -4.9% | -4.88% | -15.24% | -24.79% | -20.4% | 0.77% | -3.34% | 2.65% | 1.84% | -2.78% | -8.57% | -14.4% | -0.19% | -0.03% | 2.34% | 2.97% | 5.4% | 6.93% | 5.12% | 3.89% | 7.01% | 6.05% | -4.76% | -2.23% |
| Operating Income Growth % | - | -325.69% | 202.06% | 166.21% | -80.94% | 2022.22% | 102.09% | -0.23% | 65.75% | 44.88% | 23.23% | -1189.85% | 126.18% | -214.82% | 46.3% | 183.42% | 67.47% | 61.52% | -7095.26% | -509.63% | -101.1% | -3.11% | -15.57% | -21.18% | 45.48% | 54.71% | -40.55% | 10.67% | 337.04% | -8% | 72.68% |
| EBITDA | -7.17M | -3.76M | 6.11M | 4.23M | 3.45M | 5.52M | 2.59M | -1.64M | -1.65M | -8.66M | -16.47M | -20.61M | 13.13M | 2.01M | 21.3M | 20.4M | 7.31M | -7.59M | -33.84M | 28.56M | 28.65M | 38.13M | 31.68M | 27.77M | 30.34M | 22.89M | 17.77M | 21.75M | 19.7M | -1.6M | 200K |
| EBITDA Margin % | -6.17% | -3.14% | 4.36% | 3.1% | 3.13% | 5.66% | 3.15% | -1.86% | -1.87% | -10.52% | -17.94% | -14.18% | 3.7% | 0.65% | 6.23% | 6.08% | 2.74% | -2.86% | -8.23% | 6.55% | 5.76% | 7.29% | 7.45% | 10.04% | 11.09% | 8.99% | 8.21% | 10.76% | 9.31% | -1.41% | 0.09% |
| EBITDA Growth % | -199.54% | -161.59% | 44.47% | 22.48% | -37.45% | 112.84% | 258.59% | 0.79% | 80.97% | 47.42% | 20.08% | -256.97% | 552.21% | -90.55% | 4.4% | 179.03% | 196.26% | 77.55% | -218.46% | -0.29% | -24.87% | 20.36% | 14.07% | -8.47% | 32.58% | 28.77% | -18.28% | 10.4% | 1331.25% | -900% | 101.57% |
| D&A (Non-Cash Add-back) | 2.9M | 2.84M | 3.18M | 3.26M | 3.09M | 3.61M | 2.5M | 2.67M | 2.65M | 3.88M | 6.29M | 9.04M | 10.41M | 12.4M | 12.25M | 14.22M | 14.72M | 15.19M | 25.38M | 29.39M | 28.78M | 25.91M | 19.07M | 12.83M | 11.39M | 9.86M | 9.35M | 7.58M | 6.9M | 3.8M | 5.2M |
| EBIT | -10.17M | -6.61M | 2.13M | -67K | -198K | 4.86M | -638K | -4.77M | -2.86M | -10.63M | 11.23M | -21M | 2.72M | -9.46M | 12.95M | 12.79M | -6.33M | -4.18M | -129.75M | -823K | -135K | 12.17M | 13.9M | 14.87M | 18.96M | 13.03M | 5.48M | 14.17M | 12.8M | 1.8M | 500K |
| Net Interest Income | -1.86M | -1.63M | -1.68M | -777K | -1.11M | -868K | -838K | -903K | -850K | -809K | -4.88M | -4.22M | -617K | -522K | -437K | -1.73M | -2.38M | -4.29M | -1.98M | -3.69M | -3.71M | -5.98M | -2.1M | -1.69M | -2.74M | -4.11M | -4.04M | 0 | -1.3M | 0 | -2.9M |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 1.86M | 1.63M | 1.68M | 777K | 1.11M | 868K | 838K | 903K | 850K | 809K | 4.88M | 4.22M | 617K | 522K | 437K | 1.73M | 2.38M | 4.29M | 4.24M | 3.69M | 3.71M | 5.98M | 2.1M | 1.69M | 2.74M | 4.11M | 4.04M | 0 | 1.3M | 0 | 2.9M |
| Other Income/Expense | 126K | 329K | -2.9M | -1.9M | -1.91M | 2.09M | -1.38M | 361K | 586K | -1.26M | 29.1M | 4.42M | 665K | 408K | 3.47M | 4.87M | 1M | -3.16M | -72.52M | -3.72M | -3.32M | -4.65M | -1.96M | -1.86M | -2.58M | -3.75M | -3.69M | -1.51M | -1.1M | 8M | -1.4M |
| Pretax Income | -9.95M | -6.28M | 26K | -933K | -1.55M | 4M | -1.29M | -3.94M | -3.71M | -11.44M | 6.34M | -25.22M | 3.38M | -9.98M | 12.52M | 11.06M | -8.7M | -8.47M | -132.04M | -4.54M | -3.46M | 7.57M | 10.65M | 13.02M | 16.37M | 9.28M | 1.79M | 12.65M | 11.7M | -3M | -7.8M |
| Pretax Margin % | -8.57% | -5.24% | 0.02% | -0.68% | -1.4% | 4.1% | -1.57% | -4.49% | -4.22% | -13.9% | 6.91% | -17.36% | 0.95% | -3.21% | 3.66% | 3.29% | -3.26% | -3.18% | -32.1% | -1.04% | -0.69% | 1.45% | 2.5% | 4.71% | 5.99% | 3.64% | 0.82% | 6.26% | 5.53% | -2.65% | -3.47% |
| Income Tax | -387K | 61K | 1.71M | 663K | 948K | 1.07M | -2.96M | 4K | -205K | -618K | 301K | 1.99M | 4.57M | -93K | 2.25M | 2.62M | 1M | -3.16M | -1.49M | -2.4M | -2.09M | 2.25M | 3.25M | 4.88M | 4.93M | 2.91M | -1.4M | 3.1M | 4.3M | 200K | 800K |
| Effective Tax Rate % | 3.89% | -0.97% | 6561.54% | -71.06% | -61.32% | 26.85% | 229.1% | -0.1% | 5.53% | 5.4% | 4.74% | -7.9% | 134.98% | 0.93% | 17.96% | 23.71% | -11.53% | 37.32% | 1.13% | 52.88% | 60.59% | 29.69% | 30.46% | 37.51% | 30.13% | 31.37% | -78.28% | 24.49% | 36.75% | -6.67% | -10.26% |
| Net Income | -9.56M | -6.34M | -1.68M | -1.6M | -2.49M | 2.92M | 1.67M | -3.95M | -3.5M | -10.82M | 6.04M | -27.22M | -1.18M | -9.89M | 3.05M | 7.91M | -10.2M | 2.69M | -130.56M | -2.14M | -1.36M | 5.32M | 7.41M | 8.13M | 11.44M | 6.37M | 3.18M | 9.56M | 7.4M | -3.2M | -8.6M |
| Net Margin % | -8.23% | -5.29% | -1.2% | -1.17% | -2.26% | 3% | 2.03% | -4.49% | -3.98% | -13.15% | 6.58% | -18.73% | -0.33% | -3.18% | 0.89% | 2.36% | -3.83% | 1.01% | -31.74% | -0.49% | -0.27% | 1.02% | 1.74% | 2.94% | 4.18% | 2.5% | 1.47% | 4.73% | 3.5% | -2.82% | -3.83% |
| Net Income Growth % | -2571.79% | -277.26% | -5.26% | 36.01% | -185.32% | 75.24% | 142.24% | -12.67% | 67.61% | -279.08% | 122.2% | -2198.65% | 88.02% | -424.48% | -61.46% | 177.49% | -479.33% | 102.06% | -6003.6% | -57.05% | -125.6% | -28.16% | -8.95% | -28.88% | 79.66% | 99.97% | -66.68% | 29.14% | 331.25% | 62.79% | 51.41% |
| Net Income (Continuing) | -9.56M | -6.34M | -1.68M | -1.6M | -2.49M | 2.92M | 1.67M | -3.95M | -3.5M | -10.82M | 6.04M | -27.22M | -1.18M | -9.89M | 10.27M | 8.44M | -9.71M | -5.31M | -130.37M | -2.14M | -1.36M | 5.32M | 8.3M | 8.09M | 11.44M | 6.37M | 3.18M | 9.56M | 7.4M | 1.5M | -2.5M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 8M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.43 | -0.28 | -0.08 | -0.07 | -0.11 | 0.13 | 0.08 | -0.19 | -0.17 | -0.53 | 0.30 | -1.38 | -0.06 | -0.51 | 0.13 | 0.40 | -0.55 | 0.14 | -7.11 | -0.12 | -0.08 | 0.29 | 0.47 | 0.56 | 0.84 | 0.63 | 0.32 | 0.97 | 0.76 | -0.78 | -2.09 |
| EPS Growth % | -2342.44% | -267.45% | -4.38% | 33.64% | -184.62% | 64.35% | 141.63% | -11.76% | 67.92% | -276.67% | 121.74% | -2180.99% | 88.14% | -492.31% | -67.5% | 172.73% | -492.86% | 101.97% | -5825% | -59.36% | -125.97% | -38.3% | -16.07% | -33.33% | 33.33% | 96.88% | -67.01% | 27.63% | 197.44% | 62.68% | 53.76% |
| EPS (Basic) | - | -0.28 | -0.08 | -0.07 | -0.11 | 0.13 | 0.08 | -0.19 | -0.17 | -0.53 | 0.30 | -1.38 | -0.06 | -0.51 | 0.13 | 0.40 | -0.55 | 0.14 | -7.11 | -0.12 | -0.08 | 0.30 | 0.48 | 0.57 | 0.87 | 0.64 | 0.33 | 1.00 | 0.79 | -0.78 | -2.09 |
| Diluted Shares Outstanding | 22.33M | 22.27M | 22.04M | 21.88M | 21.73M | 23M | 21.09M | 20.86M | 20.51M | 20.33M | 19.86M | 19.69M | 19.59M | 19.34M | 19.41M | 19.01M | 18.61M | 18.51M | 18.36M | 18.23M | 18.08M | 18.32M | 17.75M | 14.65M | 13.66M | 10.03M | 9.96M | 9.86M | 9.79M | 4.09M | 4.12M |
| Basic Shares Outstanding | 22.33M | 22.27M | 22.04M | 21.88M | 21.73M | 21.59M | 21.08M | 20.86M | 20.51M | 20.33M | 19.86M | 19.69M | 19.59M | 19.34M | 19.05M | 18.82M | 18.61M | 18.47M | 18.36M | 18.23M | 18.08M | 18.02M | 17.12M | 14.24M | 13.12M | 9.83M | 9.67M | 9.52M | 9.44M | 4.09M | 4.12M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 52.74% | - | - | 14.35% | - | - | - | 40.67% | 27.31% | 21.01% | 3.71% | - | - | - | - | - | - |
Operating leverage and scale
According to the most recent quarterly data, SYPR's revenue has experienced a sustained decline, falling to $25.8M in 2026Q1, which represents a 12.5% year-over-year contraction and highlights the company's ongoing struggle to maintain volume in its core industrial and defense-related manufacturing segments.
The consistent downward trajectory in top-line performance suggests that the company is facing significant headwinds in its cyclical commercial vehicle markets. This persistent revenue erosion may indicate that the firm is losing market share or that its specialized niche programs are failing to offset broader industry-wide demand weakness.
Based on reported financial statements, gross margins have deteriorated significantly to 3.2% in 2026Q1, a sharp decline from the 16.8% peak observed in 2024Q3, suggesting that the company lacks the pricing power necessary to absorb rising input costs or manufacturing inefficiencies.
The collapse in gross margins implies that the company's high-fixed-cost manufacturing base is currently underutilized, leading to poor absorption of overhead. Investors should monitor whether this margin compression is a temporary cyclical trough or a permanent impairment of the company's ability to generate value from its specialized forging and assembly assets.
As indicated by the income statement, the company's operating margin has plummeted to -14.0% in 2026Q1, demonstrating that the firm's fixed cost structure is currently unable to scale effectively with the declining revenue base, resulting in significant operational losses.
The inability to maintain positive operating income as revenue contracts suggests that the company's SG&A and manufacturing overhead are too rigid for its current scale. This negative operating leverage warrants further investigation into whether management can successfully right-size the cost structure without compromising the technical capabilities required for its defense and energy contracts.
Data from recent filings reveals that the company has transitioned from a period of marginal profitability in 2024 to consistent operating losses, raising concerns about the long-term viability of its current business model in the face of persistent revenue declines and thin margins.
Short-sellers may focus on the company's inability to achieve consistent profitability despite its specialized niche positioning in the defense and energy sectors. The lack of a clear path to margin expansion suggests that the company may remain vulnerable to further cash burn if revenue does not stabilize in the near term.
Quick answers to the most common questions about buying SYPR stock.
For fiscal year 2025, Sypris Solutions, Inc. (SYPR) reported total revenue of $119.9M. This represents a 46.6% decline compared to $224.7M in 1996.
Sypris Solutions, Inc. (SYPR) reported a net loss of $6.3M for the fiscal year ending 2025.
Sypris Solutions, Inc. (SYPR) reported an operating income of $-6.6M, resulting in an operating profit margin of -5.5%. This margin reflects the operational efficiency of the business before interest and taxes.
Sypris Solutions, Inc. (SYPR) generated $9.4M in gross profit for the year, representing a gross profit margin of 7.8%. This demonstrates the company's core pricing power and production efficiency.