stockrow
Friday 6 November 2026
Export NSYS’s income statement to Excel — free account
Nortech Systems Incorporated
NSYS Healthcare Medical Devices
Nortech Systems Incorporated’s revenue for fiscal 2025 (year ended December 2025) was $118.4 million, down 7.62% from fiscal 2024.
- Revenue
- +9.34%
- EPS
- −8.33%
- Free cash flow
- −1,567.2%
- Total debt
- −79.0%
Quarter to June 2026, against a year earlier
11.20
0.70
+6.67%
Follow NSYS
Alert me
Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM Jun ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | 117 | 112 | 113 | 116 | 104 | 115 | 134 | 139 | 128 | 118 | 125 | +0.2% | — | — | — | — | |
| Gross margin, % | 11.87 | 10.79 | 11.74 | 10.81 | 9.28 | 13.77 | 15.27 | 16.58 | 13.05 | 15.21 | 16.44 | +3.3 pt | ||||||
| EBT | 0 | (2) | 0 | (1) | (1) | 8 | 3 | 5 | (1) | 0 | 2 | (19.7%) | ||||||
| EBT margin, % | 0.07 | (1.84) | 0.43 | (0.70) | (1.19) | 6.96 | 2.59 | 3.92 | (0.73) | 0.01 | 1.26 | (0.1) pt | ||||||
| Net income | 0 | (2) | 0 | (1) | (2) | 7 | 2 | 7 | (1) | 0 | 1 | n/m | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | 42.45 | 40.91 | 42.11 | 43.65 | 39.17 | 43.22 | 49.95 | 51.19 | 46.51 | 42.62 | 44.44 | 0.0% | |||||
| Earnings | 0.02 | (0.89) | 0.06 | (0.46) | (0.58) | 2.68 | 0.75 | 2.53 | (0.47) | (0.09) | 0.37 | n/m | ||||||
| Cash flow | 1.29 | 0.29 | 0.91 | 0.37 | 0.51 | (1.70) | 2.01 | 0.65 | (0.82) | 0.99 | 1.09 | (2.9%) | ||||||
| Capex | (0.71) | (0.09) | (0.52) | (0.28) | 2.07 | (0.27) | (0.90) | (0.47) | (0.46) | (0.06) | (0.04) | (24.5%) | ||||||
| Free cash flow | 0.58 | 0.20 | 0.39 | 0.09 | 2.58 | (1.98) | 1.11 | 0.18 | (1.28) | 0.93 | 1.05 | +5.5% | ||||||
| Book value | 8.12 | 7.22 | 7.83 | 7.50 | 7.04 | 9.80 | 10.46 | 12.98 | 12.34 | 12.44 | 12.65 | +4.8% | ||||||
| Shares, m | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | +0.1% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | 377.00 | 0.00 | 50.71 | 0.00 | 0.00 | 3.86 | 15.83 | 4.04 | 0.00 | 0.00 | 28.38 | 45.1 | |||||
| P/S | 0.09 | 0.10 | 0.08 | 0.11 | 0.18 | 0.24 | 0.24 | 0.20 | 0.22 | 0.17 | 0.24 | 0.2 | ||||||
| P/B | 0.47 | 0.55 | 0.46 | 0.66 | 1.03 | 1.07 | 1.15 | 0.79 | 0.84 | 0.60 | 0.84 | 0.8 | ||||||
| EV/Sales | 0.20 | 0.22 | 0.20 | 0.24 | 0.26 | 0.32 | 0.29 | 0.24 | 0.29 | 0.18 | 0.24 | 0.2 | ||||||
| EV/FCF | 15.09 | 45.74 | 22.04 | 115.46 | 3.94 | (7.00) | 12.95 | 83.58 | (10.50) | 8.40 | 10.63 | 29.0 | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | 4 | 1 | 2 | 1 | 1 | (5) | 5 | 2 | (2) | 3 | 3 | (2.8%) | |||||
| Capex | (2) | 0 | (1) | (1) | 6 | (1) | (2) | (1) | (1) | 0 | 0 | (24.4%) | ||||||
| Free cash flow | 2 | 1 | 1 | 0 | 7 | (5) | 3 | 0 | (4) | 3 | 3 | +5.6% | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | 19 | 20 | 21 | 21 | 22 | 29 | 28 | 32 | 34 | 26 | 28 | +3.6% | |||||
| Net debt | 14 | 14 | 14 | 15 | 8 | 8 | 5 | 4 | 8 | (1) | 1 | n/m | ||||||
| Shareholders’ equity | 22 | 20 | 21 | 20 | 19 | 26 | 28 | 35 | 34 | 35 | 35 | +5.0% | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | 0.08 | (4.55) | 0.30 | (2.02) | (2.60) | 11.47 | 2.94 | 9.50 | (1.76) | (0.35) | 1.33 | (0.4) pt | |||||
| ROIC | 1.11 | (2.32) | 2.25 | 0.41 | (1.44) | 4.21 | 7.36 | 9.37 | (0.29) | 1.82 | 4.32 | +0.7 pt | ||||||
| ROE | 0.20 | (11.75) | 0.82 | (6.05) | (8.10) | 32.28 | 7.49 | 21.85 | (3.76) | (0.74) | 3.02 | (0.9) pt | ||||||
| People | ||||||||||||||||||
| People | Employees | 904 | 800 | 819 | 784 | 699 | 807 | 832 | 775 | 744 | 713 | — | (2.6%) | |||||
| Revenue/emp, $m | 0.13 | 0.14 | 0.14 | 0.15 | 0.15 | 0.14 | 0.16 | 0.18 | 0.17 | 0.17 | — | +2.8% | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Jun 2026
Nortech Systems Incorporated vs peers in Medical Devices (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| XTNT Xtant Medical Holdings, Inc. | $42.1M | — (loss-making) | — (loss-making) | −34.96% (below 0%: shrinking) | n/m | −881.96% (below 0%: shrinking) | 57.88% | (39.81%) | Compare |
| CVRX CVRx, Inc. | $39.2M | — (loss-making) | — (loss-making) | −5.84% (below 0%: shrinking) | n/m | −9.91% (below 0%: shrinking) | 86.74% | (94.31%) | Compare |
| TELA TELA Bio, Inc. | $35.2M | — (loss-making) | — (loss-making) | −4.49% (below 0%: shrinking) | n/m | −17.72% (below 0%: shrinking) | 72.77% | (48.12%) | Compare |
| ELUT Elutia Inc. | $33.3M | 0.6× | — (loss-making) | −11.65% (below 0%: shrinking) | n/m | −2.52% (below 0%: shrinking) | 59.62% | (327.85%) | Compare |
| RPID Rapid Micro Biosystems, Inc. | $31.1M | — (loss-making) | — (loss-making) | +10.91% (above 0%: growing) | n/m | −23.97% (below 0%: shrinking) | 15.05% | (152.99%) | Compare |
| QTI QT Imaging Holdings, Inc. | $30.3M | — (loss-making) | — (loss-making) | +103.20% (above 0%: growing) | n/m | −236.31% (below 0%: shrinking) | 41.16% | (25.07%) | Compare |
| NSYS Nortech Systems Incorporated | $30.0M | 28.4× | 17.5× | +9.34% (above 0%: growing) | −8.33% (below 0%: shrinking) | −1,567.16% (below 0%: shrinking) | 17.00% | 1.86% | |
| NSPR InspireMD, Inc. | $29.7M | — (loss-making) | — (loss-making) | −0.39% (below 0%: shrinking) | n/m | −26.00% (below 0%: shrinking) | (43.70%) | (815.64%) | Compare |
| NNOX Nano-X Imaging Ltd. | $19.6M | — (loss-making) | — (loss-making) | +36.71% (above 0%: growing) | n/m | −21.37% (below 0%: shrinking) | (1,050.87%) | (1,334.91%) | Compare |
| Median of peers | $32.2M | — | — | −2.44% | — | −22.67% | 49.52% | (123.65%) |
Pay and ownership Proxy statement filed 1 April 2026
Chief executive’s pay
| Year | Total pay | Actually paid | $100 invested |
|---|---|---|---|
| 2025 | 525.75k | 436.91k | 60.65 |
| 2024 | 520.00k | 596.72k | 84.00 |
| 2023 | 819.52k | 679.25k | 76.90 |
Ownership
Directors and executive officers, together
12.40%
Curtis Squire, Inc., Anita Kunin and David B. Kunin, William Kunin and Andrew Kunin
52.90%
Daniel R. Everingham
9.70%
Jay D. Miller
5.90%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards
at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s
shares at the start of the earliest year shown was worth at each year’s end.
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more.
Read the proxy statement