Nortech Systems Incorporated
NSYS Healthcare Medical Devices
In the quarter to June 2026, revenue grew 9.34%, EPS fell 8.33%, free cash flow fell 1,567.2% and total debt fell 79.0%, each against the same quarter a year earlier.
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Nortech Systems Incorporated (NSYS) Piotroski F-score
Nortech Systems Incorporated's Piotroski F-score for fiscal 2025 is 5 out of 9: 5 of nine tests of profitability, leverage and efficiency passed, up from 1 in fiscal 2024.
Piotroski F-score, annual
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Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2025 | 5 | 4.00 |
| FY2024 | 1 | (5.00) |
| FY2023 | 6 | 0.00 |
| FY2022 | 6 | 0.00 |
| FY2021 | 6 | 1.00 |
| FY2020 | 5 | 0.00 |
| FY2019 | 5 | (2.00) |
| FY2018 | 7 | 2.00 |
| FY2017 | 5 | (1.00) |
| FY2016 | 6 | — |
How fiscal 2025’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | (0.35%) | (1.76%) | Fail | 0 |
| Positive operating cash flow | 2.74m | (2.25m) | Pass | 1 |
| Rising return on assets | (0.35%) | (1.76%) | Pass | 1 |
| Cash flow above net income | 3.00m | (955.00k) | Pass | 1 |
| Falling long-term leverage | 0.01 | 0.12 | Pass | 1 |
| Rising current ratio | 1.88 | 2.58 | Fail | 0 |
| No new shares issued | 2,777,000 | 2,755,000 | Fail | 0 |
| Rising gross margin | 15.21% | 13.05% | Pass | 1 |
| Rising asset turnover | 1.64 | 1.74 | Fail | 0 |
| Piotroski F-score | Mixed | 5 | ||
How the Piotroski F-score works
One point for each of nine tests, this fiscal year against the one before: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, a rising current ratio, no new shares issued, a rising gross margin and rising asset turnover. The ratios are the ones on this site, so each can be checked.
Joseph Piotroski (2000) called 8–9 high and 0–1 low; reading it in three bands is the common convention:
| 7–9 | Strong — most fundamentals improved |
|---|---|
| 4–6 | Mixed |
| 0–3 | Weak — most fundamentals deteriorated |
Where this differs from the paper: return on assets is on average rather than beginning-of-year assets, and weighted basic shares stand in for shares issued. The score is shown only when all nine tests can be worked out, which takes three fiscal years; banks and insurers, which report no current assets or gross profit, have none.
Piotroski F-score against peers
| Company | Piotroski F-score |
|---|---|
| NSYS Nortech Systems Incorporated | 5 |
| NSPR InspireMD, Inc. compare | 5 |
| QTI QT Imaging Holdings, Inc. compare | 5 |
| ELUT Elutia Inc. compare | 5 |
| CVRX CVRx, Inc. compare | 4 |
| NNOX Nano-X Imaging Ltd. compare | 3 |
| ITOC iTonic Holdings Ltd. compare | 2 |
| ARAY Accuray Incorporated compare | 1 |
| PMI Flag Ship Acquisition Corp compare | — |
What Piotroski F-score is
The Piotroski F-Score tells an investor how many signs of improving profitability, funding and efficiency a company shows against a year earlier.
One point for each of nine tests against a year earlier: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, rising current ratio, no new shares issued, rising gross margin, and rising asset turnover