The company exhibits high value-add resilience, maintaining gross margins that reached 48.6% in 2025Q4 despite revenue growth rates that fluctuated between a 62.4% contraction and a 198.6% surge.
| Metric | TTM | May'25 | May'24 | May'23 | May'22 | May'21 | May'20 | May'19 | May'18 | May'17 | May'16 | May'15 | May'14 | May'13 | May'12 | May'11 | May'10 | May'09 | May'08 | May'07 | May'06 | May'05 | May'04 | May'03 | May'02 | May'01 | May'00 | May'99 | May'98 | May'97 | May'96 |
|---|
| Sales/Revenue | 48.26M | 46.29M | 44.58M | 40.2M | 30.87M | 22.51M | 28.38M | 33.62M | 24.36M | 25.54M | 35.68M | 30.59M | 20.01M | 24.73M | 29.01M | 20.91M | 17.88M | 16.74M | 18.59M | 16.5M | 14.75M | 11.22M | 13.02M | 13.87M | 15.99M | 13.24M | 11.48M | 11.1M | 10.2M | 10M | 8.9M |
| Revenue Growth % | 26.54% | 3.84% | 10.9% | 30.24% | 37.13% | -20.69% | -15.58% | 37.99% | -4.59% | -28.43% | 16.64% | 52.86% | -19.08% | -14.75% | 38.75% | 16.96% | 6.8% | -9.98% | 12.68% | 11.87% | 31.52% | -13.87% | -6.13% | -13.22% | 20.71% | 15.34% | 3.44% | 8.82% | 2% | 12.36% | 9.88% |
| Cost of Goods Sold | 26.31M | 24.82M | 23.74M | 24.13M | 21.24M | 19.33M | 19.14M | 24.57M | 18.44M | 17.55M | 23.24M | 21.84M | 14.55M | 15.97M | 20.94M | 15.35M | 11.8M | 12.08M | 12.42M | 10.75M | 10.44M | 7.71M | 9.15M | 8.57M | 11.06M | 7.95M | 6.38M | 6.6M | 6.2M | 6M | 5.5M |
| COGS % of Revenue | - | 53.6% | 53.26% | 60.03% | 68.81% | 85.9% | 67.45% | 73.09% | 75.68% | 68.73% | 65.14% | 71.41% | 72.69% | 64.56% | 72.2% | 73.41% | 66.04% | 72.16% | 66.82% | 65.12% | 70.76% | 68.74% | 70.31% | 61.77% | 69.19% | 60% | 55.59% | 59.46% | 60.78% | 60% | 61.8% |
| Gross Profit | 21.95M | 21.48M | 20.84M | 16.07M | 9.63M | 3.17M | 9.24M | 9.05M | 5.92M | 7.99M | 12.44M | 8.74M | 5.47M | 8.76M | 8.06M | 5.56M | 6.07M | 4.66M | 6.17M | 5.76M | 4.31M | 3.51M | 3.87M | 5.3M | 4.92M | 5.3M | 5.1M | 4.5M | 4M | 4M | 3.4M |
| Gross Margin % | 45.48% | 46.4% | 46.74% | 39.97% | 31.19% | 14.1% | 32.55% | 26.91% | 24.32% | 31.27% | 34.86% | 28.59% | 27.31% | 35.44% | 27.8% | 26.59% | 33.96% | 27.84% | 33.18% | 34.88% | 29.24% | 31.26% | 29.69% | 38.23% | 30.81% | 40% | 44.41% | 40.54% | 39.22% | 40% | 38.2% |
| Gross Profit Growth % | - | 3.07% | 29.71% | 66.89% | 203.23% | -65.63% | 2.09% | 52.73% | -25.82% | -35.79% | 42.23% | 60% | -37.64% | 8.68% | 45.07% | -8.44% | 30.27% | -24.47% | 7.2% | 33.44% | 23% | -9.32% | -27.09% | 7.68% | -7.03% | 3.88% | 13.32% | 12.5% | 0% | 17.65% | 30.77% |
| Operating Expenses | 11.4M | 11.85M | 11.36M | 9.26M | 7.15M | 5.53M | 5.93M | 6.05M | 5.28M | 5.07M | 6.69M | 5.68M | 3.92M | 5.3M | 5.18M | 4.08M | 4.31M | 3.77M | 60.3M | 4.41M | 3.4M | 3.03M | 3.89M | 4.52M | 4.72M | 3.67M | 3.67M | 3.4M | 3.2M | 3.2M | 2.6M |
| OpEx % of Revenue | - | 25.6% | 25.48% | 23.03% | 23.18% | 24.55% | 20.91% | 17.98% | 21.66% | 19.83% | 18.75% | 18.58% | 19.59% | 21.42% | 17.85% | 19.5% | 24.1% | 22.53% | 324.29% | 26.74% | 23.02% | 27.02% | 29.91% | 32.55% | 29.5% | 27.71% | 31.99% | 30.63% | 31.37% | 32% | 29.21% |
| Selling, General & Admin | 10.92M | 11.41M | 10.97M | 8.16M | 6.15M | 5.53M | 5.93M | 6.05M | 5.28M | 5.07M | 6.69M | 5.68M | 3.92M | 5.3M | 5.18M | 4.08M | 4.31M | 3.77M | 4.36M | 4.41M | 3.4M | 3.03M | 3.89M | 4.52M | 4.72M | 3.67M | 3.41M | 3.1M | 2.9M | 2.9M | 2.4M |
| SG&A % of Revenue | - | 24.64% | 24.61% | 20.3% | 19.94% | 24.55% | 20.91% | 17.98% | 21.66% | 19.83% | 18.75% | 18.58% | 19.59% | 21.42% | 17.85% | 19.5% | 24.1% | 22.53% | 23.47% | 26.74% | 23.02% | 27.02% | 29.91% | 32.55% | 29.5% | 27.71% | 29.67% | 27.93% | 28.43% | 29% | 26.97% |
| Research & Development | 483.34K | 444K | 388.48K | 1.1M | 999.18K | 0 | 0 | 319K | 263K | 903K | 428K | 317K | 394K | 463K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | 0.96% | 0.87% | 2.73% | 3.24% | - | - | 0.95% | 1.08% | 3.54% | 1.2% | 1.04% | 1.97% | 1.87% | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 0 | 0 | 0 | -2.57K | 0 | 0 | 0 | -11.27K | 1.88K | 28K | 7.07K | 8.52K | 21.6K | 38.59K | 0 | 0 | 0 | 0 | 55.93M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 267.1K | 300K | 300K | 300K | 200K |
| Operating Income | 10.55M | 9.63M | 9.48M | 6.81M | 2.47M | -2.35M | 3.3M | 3M | 647.63K | 2.92M | 5.75M | 3.06M | 1.55M | 3.47M | 2.89M | 1.48M | 1.76M | 889.35K | 1.81M | 1.34M | 917.56K | 475.6K | -28.02K | 787.09K | 208.69K | 1.63M | 1.43M | 1.1M | 800K | 800K | 800K |
| Operating Margin % | 21.86% | 20.8% | 21.26% | 16.94% | 8.01% | -10.45% | 11.64% | 8.93% | 2.66% | 11.44% | 16.11% | 10.01% | 7.72% | 14.02% | 9.95% | 7.09% | 9.87% | 5.31% | 9.71% | 8.14% | 6.22% | 4.24% | -0.22% | 5.67% | 1.31% | 12.29% | 12.42% | 9.91% | 7.84% | 8% | 8.99% |
| Operating Income Growth % | - | 1.56% | 39.22% | 175.36% | 205.13% | -171.22% | 10.02% | 363.5% | -77.83% | -49.19% | 87.77% | 98.06% | -55.41% | 20.08% | 94.75% | -15.94% | 98.31% | -50.76% | 34.44% | 46.41% | 92.93% | 1797.12% | -103.56% | 277.15% | -87.18% | 14.12% | 29.64% | 37.5% | 0% | 0% | 100% |
| EBITDA | 12.27M | 11.36M | 11.18M | 8.28M | 3.82M | -1.14M | 4.44M | 4.07M | 1.64M | 3.79M | 6.57M | 3.8M | 2.24M | 4.03M | 3.37M | 1.95M | 2.21M | 1.31M | 2.16M | 1.69M | 1.24M | 848.32K | 314.3K | 1.13M | 515.65K | 1.89M | 1.69M | 1.4M | 1.1M | 1.1M | 1M |
| EBITDA Margin % | 25.43% | 24.54% | 25.07% | 20.6% | 12.38% | -5.06% | 15.66% | 12.12% | 6.75% | 14.84% | 18.4% | 12.43% | 11.22% | 16.3% | 11.62% | 9.34% | 12.34% | 7.84% | 11.64% | 10.27% | 8.39% | 7.56% | 2.41% | 8.11% | 3.23% | 14.24% | 14.75% | 12.61% | 10.78% | 11% | 11.24% |
| EBITDA Growth % | 21.03% | 1.62% | 34.96% | 116.78% | 435.29% | -125.64% | 9.06% | 147.92% | -56.63% | -42.3% | 72.71% | 69.38% | -44.31% | 19.64% | 72.49% | -11.45% | 68.15% | -39.4% | 27.8% | 36.89% | 45.87% | 169.91% | -72.06% | 118.17% | -72.66% | 11.39% | 20.94% | 27.27% | 0% | 10% | 100% |
| D&A (Non-Cash Add-back) | 1.72M | 1.73M | 1.7M | 1.47M | 1.35M | 1.21M | 1.14M | 1.07M | 995.92K | 868.61K | 818.38K | 740.84K | 699.04K | 564.26K | 482.15K | 470.75K | 442.26K | 422.5K | 358.72K | 350.51K | 319.87K | 372.71K | 342.32K | 337.92K | 306.95K | 258.56K | 267.1K | 300K | 300K | 300K | 200K |
| EBIT | 12.18M | 11.03M | 10.92M | 7.51M | 2.56M | -841.95K | 3.42M | 3.06M | 676.37K | 2.99M | 5.77M | 3.07M | 1.57M | 3.47M | 2.89M | 1.48M | 1.76M | 889.35K | -54.13M | 1.34M | 917.56K | 475.6K | -28.02K | 787.09K | 208.69K | 1.63M | 1.43M | 1.1M | 800K | 800K | 800K |
| Net Interest Income | 0 | 1.4M | 1.43M | 698.86K | 4.54K | 53.65K | 111.05K | 69.01K | 26.86K | 38.84K | 10.75K | 3.99K | 860 | -45.46K | 28.43K | 9.78K | -15.7K | -67.22K | 0 | -306.79K | 0 | 0 | 0 | 0 | -284.54K | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 0 | 1.4M | 1.43M | 698.86K | 4.54K | 53.65K | 111.05K | 69.01K | 26.86K | 38.84K | 10.75K | 3.99K | 860 | 0 | 28.43K | 9.78K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 45.46K | 0 | 0 | 15.7K | 67.22K | 0 | 306.79K | 0 | 0 | 0 | 0 | 284.54K | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | 1.63M | 1.41M | 1.44M | 696.29K | 83.65K | 3.03M | 113.3K | 57.73K | 28.74K | 66.84K | 17.82K | 12.51K | 22.46K | -6.87K | 61.85K | 227.22K | 11.5K | -36.15K | -85.55K | -288.7K | -149.87K | -150.98K | -90.2K | -279.76K | 212.99K | -127K | -73.4K | 0 | 0 | 0 | 0 |
| Pretax Income | 12.18M | 11.03M | 10.92M | 7.51M | 2.56M | 681.89K | 3.42M | 3.06M | 676.37K | 2.99M | 5.77M | 3.07M | 1.57M | 3.46M | 2.95M | 1.71M | 1.78M | 853.19K | 1.72M | 1.05M | 767.7K | 324.62K | -118.23K | 507.33K | 421.68K | 1.5M | 1.35M | 1.1M | 800K | 800K | 800K |
| Pretax Margin % | 25.23% | 23.83% | 24.5% | 18.67% | 8.28% | 3.03% | 12.04% | 9.1% | 2.78% | 11.7% | 16.16% | 10.05% | 7.84% | 13.99% | 10.17% | 8.18% | 9.93% | 5.1% | 9.25% | 6.39% | 5.2% | 2.89% | -0.91% | 3.66% | 2.64% | 11.33% | 11.78% | 9.91% | 7.84% | 8% | 8.99% |
| Income Tax | 1.79M | 1.62M | 1.92M | 1.22M | 317K | -381K | 386K | 515K | 233K | 657K | 1.56M | 899K | 437K | 912K | 750K | 293.2K | 188.2K | 281.3K | 569K | 410K | 237.5K | 106.8K | -54.8K | 159.5K | 88.9K | 457.5K | 487.4K | 400K | 300K | 300K | 200K |
| Effective Tax Rate % | 14.7% | 14.68% | 17.6% | 16.23% | 12.4% | -55.87% | 11.3% | 16.83% | 34.45% | 21.99% | 27.02% | 29.25% | 27.87% | 26.36% | 25.43% | 17.15% | 10.6% | 32.97% | 33.07% | 38.87% | 30.94% | 32.9% | 46.35% | 31.44% | 21.08% | 30.49% | 36.03% | 36.36% | 37.5% | 37.5% | 25% |
| Net Income | 10.38M | 9.41M | 9M | 6.29M | 2.24M | 1.06M | 3.03M | 2.54M | 443.37K | 2.33M | 4.21M | 2.17M | 1.13M | 2.55M | 2.2M | 1.42M | 1.59M | 571.89K | 1.53M | 619.27K | 485.79K | 202.11K | -58.62K | 350.94K | 332.78K | 1.04M | 865.23K | 700K | 500K | 500K | 600K |
| Net Margin % | 21.52% | 20.33% | 20.18% | 15.64% | 7.26% | 4.72% | 10.68% | 7.57% | 1.82% | 9.13% | 11.79% | 7.11% | 5.65% | 10.3% | 7.58% | 6.78% | 8.88% | 3.42% | 8.25% | 3.75% | 3.29% | 1.8% | -0.45% | 2.53% | 2.08% | 7.87% | 7.54% | 6.31% | 4.9% | 5% | 6.74% |
| Net Income Growth % | 26.68% | 4.6% | 43.12% | 180.76% | 110.69% | -64.92% | 19.08% | 473.91% | -80.98% | -44.62% | 93.49% | 92.27% | -55.6% | 15.87% | 55.24% | -10.74% | 177.49% | -62.7% | 147.59% | 27.48% | 140.36% | 444.77% | -116.7% | 5.46% | -68.09% | 20.53% | 23.6% | 40% | 0% | -16.67% | 0% |
| Net Income (Continuing) | 10.38M | 9.41M | 9M | 6.29M | 2.24M | 1.06M | 3.03M | 2.54M | 443.37K | 2.33M | 4.21M | 2.17M | 1.13M | 2.55M | 2.2M | 1.42M | 1.59M | 571.89K | 1.53M | 619.27K | 485.79K | 202.11K | -58.62K | 350.94K | 332.78K | 1.04M | 865.23K | 700K | 500K | 500K | 600K |
| Discontinued Operations | 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 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 520.5K | 483.89K | 450.99K | 418.72K | 396.93K | 372.94K | 346.23K | 323.8K | 300K | 300K | 200K | 200K |
| EPS (Diluted) | 3.30 | 2.87 | 2.58 | 1.77 | 0.64 | 0.30 | 0.87 | 0.73 | 0.13 | 0.66 | 1.21 | 0.64 | 0.34 | 0.76 | 0.67 | 0.44 | 0.49 | 0.18 | 0.48 | 0.20 | 0.16 | 0.07 | -0.02 | 0.12 | 0.12 | 0.37 | 0.31 | 0.26 | 0.17 | 0.20 | 0.22 |
| EPS Growth % | 37.23% | 11.24% | 45.76% | 176.56% | 113.33% | -65.52% | 19.18% | 461.54% | -80.3% | -45.45% | 89.06% | 88.24% | -55.26% | 13.43% | 52.27% | -10.2% | 172.22% | -62.5% | 140% | 25% | 128.57% | 450% | -116.67% | 0% | -67.57% | 19.35% | 19.23% | 52.94% | -15% | -9.09% | 10% |
| EPS (Basic) | - | 3.01 | 2.68 | 1.79 | 0.64 | 0.30 | 0.87 | 0.73 | 0.13 | 0.68 | 1.24 | 0.65 | 0.34 | 0.77 | 0.67 | 0.44 | 0.49 | 0.18 | 0.48 | 0.20 | 0.16 | 0.07 | -0.02 | 0.12 | 0.12 | 0.37 | 0.31 | 0.26 | 0.17 | 0.20 | 0.22 |
| Diluted Shares Outstanding | 3.15M | 3.28M | 3.49M | 3.55M | 3.5M | 3.49M | 3.49M | 3.49M | 3.49M | 3.51M | 3.48M | 3.4M | 3.37M | 3.36M | 3.3M | 3.24M | 3.23M | 3.22M | 3.19M | 3.1M | 3.04M | 2.89M | 2.93M | 2.92M | 2.77M | 2.82M | 2.79M | 2.94M | 3.08M | 2.5M | 2.73M |
| Basic Shares Outstanding | 3.15M | 3.13M | 3.35M | 3.51M | 3.5M | 3.49M | 3.48M | 3.47M | 3.46M | 3.43M | 3.39M | 3.35M | 3.34M | 3.31M | 3.27M | 3.23M | 3.22M | 3.22M | 3.17M | 3.1M | 3.04M | 2.89M | 2.93M | 2.92M | 2.77M | 2.82M | 2.79M | 2.69M | 2.94M | 2.5M | 2.73M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Project-based revenue volatility
As evidenced by the quarterly data, TAYD's revenue trajectory remains highly volatile, with growth rates swinging from a 62.4% contraction in 2025Q2 to a 198.6% surge in 2026Q2, reflecting the inherent unpredictability of project-based recognition in the specialized damping and shock absorption market.
The extreme variance in quarterly revenue suggests that the company's top-line performance is heavily dependent on the timing of large-scale infrastructure and defense project milestones. Investors should interpret these fluctuations as a function of contract delivery schedules rather than a fundamental shift in underlying demand for the company's proprietary seismic technology.
According to the reported financial statements, Taylor Devices maintains a robust gross margin profile, frequently exceeding 45% in normalized quarters, which underscores the company's ability to command premium pricing for its highly specialized, mission-critical engineering solutions within the aerospace and seismic infrastructure sectors.
The consistency of these margins suggests that the company possesses significant pricing power, likely derived from the high barriers to entry associated with regulatory certifications and technical specifications. While 2026Q3 saw a slight compression to 40.2%, the overall structural margin profile remains indicative of a high-value-add manufacturer rather than a commoditized industrial player.
Based on the provided income statement data, TAYD demonstrates disciplined overhead management, with operating margins consistently hovering near the 20% threshold, suggesting that the company successfully scales its SG&A expenses in alignment with the lumpy revenue recognition inherent to its project-based business model.
The ability to maintain operating profitability even during periods of significant revenue contraction indicates a lean cost structure that is well-adapted to the cyclical nature of its end markets. However, the lack of significant R&D investment relative to revenue warrants further investigation into whether the company is sufficiently reinvesting to maintain its technological moat.
As reported in recent filings, the company's cash and equivalents of $1.19M appear relatively thin for an entity managing large-scale, multi-year infrastructure projects, which may expose the firm to liquidity risks should there be significant delays in project payments or unexpected cost overruns.
Short-sellers might focus on the potential for working capital strain, as the reliance on percentage-of-completion accounting can mask cash flow timing mismatches. The current cash position may limit the company's operational flexibility, potentially hindering its ability to pursue larger, more capital-intensive contracts without external financing.
Quick answers to the most common questions about buying TAYD stock.
For fiscal year 2025, Taylor Devices, Inc. (TAYD) reported total revenue of $46.3M. This represents a 420.1% increase compared to $8.9M in 1996.
Taylor Devices, Inc. (TAYD) is profitable, generating $9.4M in net income for the fiscal year ending 2025 with a net profit margin of 20.3%.
Taylor Devices, Inc. (TAYD) reported an operating income of $9.6M, resulting in an operating profit margin of 20.8%. This margin reflects the operational efficiency of the business before interest and taxes.
Taylor Devices, Inc. (TAYD) generated $21.5M in gross profit for the year, representing a gross profit margin of 46.4%. This demonstrates the company's core pricing power and production efficiency.