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Optex Systems Holdings Inc.

OPXS Industrials Aerospace & Defense

Optex Systems Holdings Inc.’s revenue for fiscal 2025 (year ended September 2025) was $41.3 million, up 21.6% from fiscal 2024.

Revenue
−12.4%
EPS
−18.2%
Free cash flow
+53.0%

Quarter to June 2026, against a year earlier

8.42 0.49 −5.50%
Market cap
$56.2M
P/E
15.0×
Fwd P/E
13.8×
Dividend yield
—
F-score
8/9
Altman Z
12.33
Beneish M
−2.65
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Sold, $m 1.61
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — 2 — 1 — — — — — — — —
Insider Ownership 20.69%

Capital & Financial Ratios $m

Size
Market Cap 56.23
Revenue ttm 39.80
Net income ttm 3.89
Free cash flow ttm 1.46
Net debt Q (6.17)
Valuation
P/E 15.04
Forward P/E 13.80
Price / sales 1.47
Forward P/S Powerpack
Price / FCF 40.98
Price / book 2.10
Financial health
Current ratio Q 7.09 (at or above 1.5: strong)
Debt / equity Q 0.00 (at or below 0.5: strong)
Interest coverage Q (49.68)
Growth
Revenue growth Q −12.43% (below 0%: shrinking)
Operating income growth Q −27.21% (below 0%: shrinking)
EPS, this year —
EPS, next year A —
Revenue, next year A +3.54%
EPS, past 5 yrs +39.51% (at or above 15%: strong)
EPS, next 5 yrs A —

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 1.3×, against a ten-year median of 0.7×; over the ten years it ranged from −0.1× in 2016 to 2.7× in 2025.
P/E against its own 10 years 64.22%
10-year low 10-year high
P/S against its own 10 years 78.07%
10-year low 10-year high
P/B against its own 10 years 71.84%
10-year low 10-year high
EV/Sales against its own 10 years 76.58%
10-year low 10-year high
EV/FCF against its own 10 years 76.84%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—
Growth, 2017–18
−33.3%/yr
  1. 0.06 ’17
  2. 0.04 ’18 −33
paid change on the year, %

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 1 1 6 6
Receivables 4 4 5 4
Inventory 12 15 14 16
Other 0 0 0 0
18 20 26 28
2023 2024 2025 Q'26
Payables 1 1 2 1
ST’ Debt 1 1 — —
Other 1 1 0 0
4 5 5 4

Compound Annual Growth %

10y 5y 3y
Sales 12.26% 9.81% 22.69%
Cash Flow 0.00% 12.12% 50.28%
Earnings 0.00% 33.21% 58.89%
Book Value 11.53% 11.69% 25.10%

EPS $

Dec Mar Jun Sep Year
’26 0.03 0.19 0.18 — —
’25 0.12 0.26 0.22 0.15 0.74
’24 0.06 0.16 0.18 0.15 0.55
’23 (0.03) 0.07 0.09 0.21 0.34
’22 0.00 (0.02) 0.05 0.12 0.16
’21 0.09 (0.07) 0.11 0.03 0.18
’20 (0.08) 0.15 (0.01) 0.08 0.14
Fiscal quarters ending in the months shown.

Revenue $m

Dec Mar Jun Sep Year
’26 9 10 10 — —
’25 8 11 11 11 41
’24 7 9 9 9 34
’23 4 6 7 8 26
’22 4 5 6 7 22
’21 4 4 4 5 18
’20 6 7 6 7 26
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Dec Mar Jun Sep Year
’26 0 (1) 2 — —
’25 3 1 1 2 7
’24 2 (1) 0 1 2
’23 0 (2) 0 1 0
’22 2 0 1 0 2
’21 0 0 1 (1) 0
’20 0 0 1 2 4
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Dec Mar Jun Sep Year
’26 (1) (2) 2 — —
’25 2 1 1 2 6
’24 2 (2) 0 1 0
’23 0 (2) (1) 1 (1)
’22 1 0 0 0 2
’21 0 0 1 (1) 0
’20 0 0 1 2 4
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to September

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 17 19 21 25 26 18 22 26 34 41 40 +10.2% 43 47 58 +11.6%
Gross margin, % 17.66 18.41 21.65 25.49 23.51 13.83 21.88 25.80 28.03 29.17 30.69 +11.5 pt
EBT 0 0 2 5 2 2 2 3 5 6 5 n/m
EBT margin, % (1.20) (1.64) 7.49 18.42 9.10 11.14 7.36 10.65 14.04 15.36 11.59 +16.6 pt
Net income 0 0 1 6 2 2 1 2 4 5 4 n/m
Per share, $
Per share, $ Revenue 11.17 2.32 2.47 2.92 3.06 2.21 2.75 3.88 5.03 6.02 5.74 (6.6%)
Earnings (0.91) (0.04) 0.11 0.45 0.14 0.18 0.16 0.34 0.56 0.75 0.56 n/m
Cash flow (0.35) 0.00 0.12 0.02 0.46 0.06 0.25 (0.04) 0.26 1.01 0.37 n/m
Capex (0.02) (0.01) (0.02) (0.02) (0.02) (0.03) (0.03) (0.06) (0.26) (0.07) (0.16) +15.9%
Free cash flow (0.37) (0.01) 0.10 0.00 0.44 0.03 0.22 (0.10) 0.01 0.94 0.21 n/m
Book value 4.68 0.74 0.75 1.46 1.65 1.91 1.53 2.25 2.78 3.54 4.00 (3.1%)
Shares, m 2 8 8 8 8 8 8 7 7 7 7 +18.0%
Valuation, ×
Valuation, × P/E 0.00 0.00 14.58 2.79 13.22 12.31 16.55 11.71 13.63 17.19 15.04 10.2
P/S 0.07 0.44 0.71 0.55 0.60 0.89 0.92 1.03 1.52 2.14 1.47 0.9
P/B 0.16 1.36 2.33 1.10 1.12 1.03 1.66 1.77 2.74 3.64 2.10 1.7
EV/Sales (0.06) 0.36 0.67 0.52 0.45 0.72 1.03 1.04 1.53 2.02 1.35 0.8
EV/FCF 1.83 (73.11) 16.15 505.50 3.08 63.23 12.93 (39.80) 47.35 13.05 37.70 55.0
Cash, $m
Cash, $m Operating cash flow (1) 0 1 0 4 0 2 0 2 7 3 n/m
Capex 0 0 0 0 0 0 0 0 (2) (1) (1) +36.8%
Free cash flow (1) 0 1 0 4 0 2 (1) 0 6 1 n/m
Balance, $m
Balance, $m Working capital 9 8 8 12 12 13 10 13 15 21 24 +10.5%
Net debt (2) (1) (1) (1) (4) 0 2 0 0 (6) (6) +12.2%
Shareholders’ equity 7 6 6 12 14 16 12 15 19 24 28 +14.4%
Returns, %
Returns, % ROA (11.61) (3.81) 6.96 25.13 6.47 7.14 6.51 11.11 15.79 18.52 12.61 +30.1 pt
ROIC (11.45) 2.79 16.85 17.54 17.89 (2.00) 6.94 11.40 16.03 24.90 15.28 +36.4 pt
ROE (18.33) (7.74) 15.13 40.97 9.37 9.91 9.12 16.60 22.38 23.88 15.28 +42.2 pt
People
People Employees 91 100 100 101 102 84 88 106 128 132 — +4.2%
Revenue/emp, $m 0.19 0.19 0.21 0.24 0.25 0.22 0.25 0.24 0.27 0.31 — +5.7%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Sep 2025 · latest quarter Jun 2026 · fundamentals updated 26 Oct 2026

Optex Systems Holdings Inc. vs peers in Aerospace & Defense (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
MRLN Merlin Inc $78.3M — (loss-making) — — n/m −119.70% (below 0%: shrinking) (5.42%) (1,528.58%) Compare
HOVR New Horizon Aircraft Ltd. $75.9M — (loss-making) — — n/m −208.15% (below 0%: shrinking) — 0.00% Compare
EVTL Vertical Aerospace Ltd. $66.7M 0.9× — — n/m −586.27% (below 0%: shrinking) 0.00% 0.00% Compare
CVU CPI Aerostructures, Inc. $59.1M 15.3× 5.8× +15.83% (above 0%: growing) n/m +98.60% (above 0%: growing) 22.02% 6.80% Compare
OPXS Optex Systems Holdings Inc. $56.2M 15.0× 13.8× −12.43% (below 0%: shrinking) −18.18% (below 0%: shrinking) +53.00% (above 0%: growing) 34.18% 14.30%
SPAI Safe Pro Group Inc. $56.2M — (loss-making) — (loss-making) +1,335.45% (above 0%: growing) n/m −159.09% (below 0%: shrinking) 64.02% (245.60%) Compare
PEW GrabAGun Digital Holdings Inc. $55.2M — (loss-making) — +9.37% (above 0%: growing) n/m −650.00% (below 0%: shrinking) 13.46% (11.08%) Compare
FBDT First Breach Inc. $48.0M — — — n/m — (535.12%) (12,410.17%) Compare
FJET Starfighters Space, Inc. $41.0M — (loss-making) — — n/m −235.20% (below 0%: shrinking) — 0.00% Compare
Median of peers $57.7M — — +15.83% — −208.15% 6.73% (5.54%)

All 94 Aerospace & Defense stocks →

Pay and ownership Proxy statement filed 20 January 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 434.89k 434.89k 174.16
2024 551.13k 688.86k 180.52

Ownership

Directors and executive officers, together 27.70%
Dayton Judd 12.40%
Directors and officers: 11.50%
5% Holders 10.00%
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

Optex Systems Holdings Inc. (OPXS) Latest News

5 Oct

Impact 3 · · Zacks

18 Sep

Impact 3 ·

27 Aug

Impact 3 ·

11 Aug

Impact 3 · · MarketBeat

17 Jul

Impact 3 ·

9 Jun

Impact 3 · · ACCESS Newswire

18 May

Impact 3 · · Zacks

14 May

Impact 4 · · GuruFocus.com

12 May

Impact 4 · · InvestorsHub
Impact 3 · · Moby transcript

11 May

Impact 4 · · ACCESS Newswire

27 Mar

Impact 3 · · ACCESS Newswire

17 Feb

Impact 3 · · Zacks

11 Feb

Impact 4 · · MarketBeat transcript
Impact 3 · · ACCESS Newswire

10 Feb

Impact 4 · · ACCESS Newswire

5 Feb

Impact 3 · · ACCESS Newswire

5 Jan

Impact 3 · · ACCESS Newswire

23 Dec

Impact 4 · · Zacks

17 Dec

Impact 4 ·

15 Dec

Impact 3 · · ACCESS Newswire

11 Dec

Impact 4 · · Simply Wall St.

8 Dec

Impact 4 · · ACCESS Newswire

3 Dec

Impact 4 · · ACCESS NewswireGuruFocus.comMotley FoolGuruFocus.comGuruFocus.com

21 Nov

Impact 3 · · Simply Wall St.

31 Oct

Impact 4 · · Simply Wall St.

28 Sep

Impact 3 · · Simply Wall St.

4 Sep

Impact 4 ·

15 Aug

Impact 3 · · Simply Wall St.

12 Aug

Impact 4 ·
stockrow.com/OPXS · Data as of Oct 26, 2026 · For information only; not investment advice. · © 2026 stockrow.com