Financial Analysis
Filing-based analysis. Market pricing is not included. Fundamentals from SEC filings; economic data from FRED and the BLS. About our data
Filing evidence summary
Mixed evidenceCoverage 5/5 core metricsOperating margin changed -10.6 percentage points from the prior annual period.
Backward-looking filed evidence under visible rules - not a rating, forecast or investment advice. Missing data is never scored.
Evidence signals
- Operating margin compressed
Operating margin changed -10.6 percentage points from the prior annual period.
Why this surfaced
Direction threshold: more than +1 percentage point constructive; below -1 point caution. Period end 2025-12-31.
- Free cash flow was negative
Latest reported free cash flow was -$49M.
Why this surfaced
Free cash flow = operating cash flow minus capital expenditures; positive is supporting evidence, not a valuation conclusion. Period end 2025-12-31.
- 1 filing risk check flagged
Flagged areas: Dilution.
Why this surfaced
The full financial analysis shows each value, threshold, and sector limitation.
- Revenue expanded
Latest reported annual revenue changed +4.9% from the prior reported annual observation.
Why this surfaced
Direction threshold: above +2% constructive; below -2% caution; otherwise monitor. This is not labeled one-year growth when filing periods have a gap. Period end 2025-12-31.
Core trend metrics
Hover a tile for its exact definition; the Statements tab carries per-cell filing citations.
Where to look next
Risk checks
- Dilution
Financial movement
- Cash→ flat
- Long-term debt→ flat
- Inventory→ flat
- Receivables→ flat
- Current assets→ flat
Source & freshness
- Source
- SEC EDGAR XBRL
- Fetched
- 2026-10-21
- Latest period end
- 2025-12-31
- Filings
- EDGAR ↗
Reported segment mix
figures as filed · share of the filed sum · change vs the prior period in the same filing- Militaryand Space$480M58.2%+14.3% yoy
- Commercial Aerospace$308M37.4%-7.4% yoy
- Industrial$36.5M4.4%+9.0% yoy
Members sum to the consolidated $825M for this period.
- Outside the United States$119M100.0%+4.4% yoy
Members sum to $119M against $825M consolidated (residual $706M) - eliminations or corporate lines the filer did not tag on this axis.
- Electronic Systems$131M58.5%no prior
- Structural Systems$93.1M41.5%no prior
Change is against the same quarter a year earlier, as reported in the same 10-Q.
Source: SEC DERA Financial Statement and Notes data sets. Dimensional XBRL facts on the business-segment, product/service and geographic axes; the engine keeps the accession of every figure. Descriptive and educational, not advice.
Peer percentiles
latest fiscal year ending 2025-12-31 · among 4,060 US-listed filers · 318 in Industrials| Metric | Value | vs all filers | vs sector |
|---|---|---|---|
Revenue latest fiscal-year revenue as filed | $825M | 51stof 3,247 middle third | 39thof 301 middle third |
Revenue growth latest fiscal-year revenue vs the prior fiscal year | 4.8% | 46thof 3,083 middle third | 56thof 291 middle third |
Gross margin gross profit ÷ revenue | 26.9% | 31stof 1,585 bottom third | 61stof 164 middle third |
Operating margin operating income ÷ revenue | -3.9% | 37thof 2,777 middle third | 26thof 277 bottom third |
Net margin net income ÷ revenue | -4.1% | 36thof 3,212 middle third | 26thof 296 bottom third |
Free-cash-flow margin (operating cash flow − |capex|) ÷ revenue | -5.9% | 26thof 2,640 bottom third | 23rdof 271 bottom third |
Return on equity net income ÷ stockholders' equity (positive equity only) | -5.1% | 37thof 3,520 middle third | 27thof 277 bottom third |
Stock comp ÷ revenue stock-based compensation ÷ revenue · lower is ranked higher | 3.0% | 44thof 2,852 middle third | 22ndof 263 bottom third |
Days sales outstanding receivables ÷ revenue × 365 · lower is ranked higher | 55 days | 42ndof 2,373 middle third | 38thof 236 middle third |
Cash-flow accrual ratio (net income − operating cash flow) ÷ average total assets · lower is ranked higher | -0.1% | 19thof 3,845 bottom third | 19thof 298 bottom third |
Balance-sheet accrual ratio change in net operating assets ÷ average net operating assets · lower is ranked higher | 4.5% | 49thof 3,301 middle third | 47thof 239 middle third |
Each filer's latest fiscal year as stored by the nightly crawl; fiscal year ends differ across the universe. A metric ranks only filers for which it is computable from filed facts. Ties split; a rank reads "better than N% of filers" in the metric's own direction. Descriptive and educational, not a rating.
Earnings quality
latest fiscal year ending 2025-12-31 · accruals and cash conversion as filedPer fiscal year from filed facts: cash conversion = operating cash flow / net income (net income > 0); cash-flow accrual ratio = (net income - operating cash flow) / average total assets; balance-sheet accrual ratio = change in net operating assets / average net operating assets, NOA = (assets - cash) - (liabilities - debt). Descriptive; a missing input yields a missing ratio. High accrual ratios and cash conversion well below one are the measures the accruals literature associates with less persistent earnings; they are screens to read the cash-flow statement with, not conclusions. The per-year series is part of Pro risk analysis.
Point-in-time ledger
first-reported vs latest filing · periods since 2020-01-01 · 30 changed periods| Line item | Period | First reported | Latest filing | Change | Filings |
|---|---|---|---|---|---|
| Stock-based compensation ShareBasedCompensation | quarter 2025-03-29 | $5.35M 10-Q 2025-05-06 | $15.7M 10-Q 2026-05-12 | +194.3% | first · latest · 3 filings carry it |
| Net income NetIncomeLoss | quarter 2024-06-29 | $7.72M 10-Q 2024-08-08 | -$676K 10-K/A 2026-05-08 | -108.8% | first · latest · 3 filings carry it |
| Net income NetIncomeLoss | quarter 2025-03-29 | $10.5M 10-Q 2025-05-06 | $1.4M 10-Q 2026-08-06 | -86.7% | first · latest · 5 filings carry it |
| Operating income OperatingIncomeLoss | quarter 2024-06-29 | $13.9M 10-Q 2024-08-08 | $3.29M 10-K/A 2026-05-08 | -76.3% | first · latest · 3 filings carry it |
| Operating income OperatingIncomeLoss | quarter 2025-03-29 | $16.6M 10-Q 2025-05-06 | $4.97M 10-Q 2026-05-12 | -70.0% | first · latest · 3 filings carry it |
| Stock-based compensation ShareBasedCompensation | fiscal year 2024-12-31 | $17.8M 10-K 2025-02-27 | $26.9M 10-K/A 2026-05-08 | +51.1% | first · latest · 3 filings carry it |
| Net income NetIncomeLoss | fiscal year 2024-12-31 | $31.5M 10-K 2025-02-27 | $21.7M 10-K/A 2026-05-08 | -31.2% | first · latest · 3 filings carry it |
| Operating income OperatingIncomeLoss | fiscal year 2024-12-31 | $52.2M 10-K 2025-02-27 | $42.2M 10-K/A 2026-05-08 | -19.1% | first · latest · 3 filings carry it |
| Stock-based compensation ShareBasedCompensation | fiscal year 2025-12-31 | $24.5M 10-K 2026-02-26 | $28.5M 10-K/A 2026-05-08 | +16.0% | first · latest |
| Operating income OperatingIncomeLoss | fiscal year 2025-12-31 | -$32.3M 10-K 2026-02-26 | -$35.7M 10-K/A 2026-05-08 | -10.6% | first · latest |
| Net income NetIncomeLoss | fiscal year 2025-12-31 | -$33.9M 10-K 2026-02-26 | -$37.4M 10-K/A 2026-05-08 | -10.1% | first · latest |
| Net income NetIncomeLoss | quarter 2024-09-28 | $10.1M 10-Q 2024-11-07 | $9.4M 10-K/A 2026-05-08 | -7.3% | first · latest · 3 filings carry it |
| Net income NetIncomeLoss | quarter 2024-03-30 | $6.85M 10-Q 2024-05-08 | $6.36M 10-K/A 2026-05-08 | -7.1% | first · latest · 5 filings carry it |
| Operating income OperatingIncomeLoss | quarter 2025-09-27 | -$80M 10-Q 2025-11-06 | -$75.3M 10-K/A 2026-05-08 | +5.9% | first · latest |
| Net income NetIncomeLoss | quarter 2025-09-27 | -$64.4M 10-Q 2025-11-06 | -$60.8M 10-K/A 2026-05-08 | +5.6% | first · latest |
| Gross profit GrossProfit | quarter 2025-09-27 | $56.5M 10-Q 2025-11-06 | $59M 10-K/A 2026-05-08 | +4.4% | first · latest |
| Operating income OperatingIncomeLoss | quarter 2025-06-28 | $17.2M 10-Q 2025-08-07 | $17.7M 10-Q 2026-08-06 | +3.2% | first · latest · 3 filings carry it |
| Stock-based compensation ShareBasedCompensation | quarter 2024-03-30 | $4.26M 10-Q 2024-05-08 | $4.38M 10-K/A 2026-05-08 | +2.9% | first · latest · 3 filings carry it |
| Gross profit GrossProfit | quarter 2025-03-29 | $51.6M 10-Q 2025-05-06 | $50.5M 10-Q 2026-05-12 | -2.2% | first · latest · 3 filings carry it |
| Deferred revenue (current) ContractWithCustomerLiabilityCurrent | balance at 2024-03-30 | $57.8M 10-Q 2024-05-08 | $56.7M 10-K/A 2026-05-08 | -1.9% | first · latest |
| Net income NetIncomeLoss | quarter 2025-06-28 | $12.6M 10-Q 2025-08-07 | $12.8M 10-Q 2026-08-06 | +1.6% | first · latest · 3 filings carry it |
| Gross profit GrossProfit | quarter 2025-06-28 | $53.7M 10-Q 2025-08-07 | $53M 10-Q 2026-08-06 | -1.4% | first · latest · 3 filings carry it |
| Receivables AccountsReceivableNetCurrent | balance at 2025-06-28 | $120M 10-Q 2025-08-07 | $118M 10-Q 2026-08-06 | -1.4% | first · latest · 3 filings carry it |
| Diluted shares WeightedAverageNumberOfDilutedSharesOutstanding | quarter 2024-06-29 | 14,961,000 shares 10-Q 2024-08-08 | 14,775,000 shares 10-K/A 2026-05-08 | -1.2% | first · latest · 3 filings carry it |
| Receivables AccountsReceivableNetCurrent | balance at 2025-03-29 | $119M 10-Q 2025-05-06 | $118M 10-Q 2026-05-12 | -1.1% | first · latest · 3 filings carry it |
| Operating income OperatingIncomeLoss | quarter 2024-09-28 | $15.3M 10-Q 2024-11-07 | $15.4M 10-K/A 2026-05-08 | +1.1% | first · latest · 3 filings carry it |
| Revenue RevenueFromContractWithCustomerExcludingAssessedTax | quarter 2025-09-27 | $213M 10-Q 2025-11-06 | $214M 10-K/A 2026-05-08 | +0.9% | first · latest |
| Revenue RevenueFromContractWithCustomerExcludingAssessedTax | quarter 2025-03-29 | $194M 10-Q 2025-05-06 | $192M 10-Q 2026-05-12 | -0.8% | first · latest · 3 filings carry it |
| Revenue RevenueFromContractWithCustomerExcludingAssessedTax | quarter 2025-06-28 | $202M 10-Q 2025-08-07 | $201M 10-Q 2026-08-06 | -0.7% | first · latest · 3 filings carry it |
| Total liabilities Liabilities | balance at 2024-12-31 | $444M 10-K 2025-02-27 | $446M 10-K/A 2026-05-08 | +0.6% | first · latest · 6 filings carry it |
First filing reporting each period vs the latest filing carrying it (10-K and 10-Q only, periods since 2020, the extractor's winning tag per concept); a change under 0.5% is treated as rounding. A change can be a restatement, a reclassification or a re-tagging in a later comparative column; the two filings are linked so the reader can see which. Descriptive, not a verdict.
Notes by disclosure type
Not available for DCO yet: no footnote text blocks on file for this filer in the ingested DERA files.
Fundamentals from SEC EDGAR. Scores, the DCF, and every model shown are educational analysis, not investment advice or price predictions.