M-Tron Industries, Inc. (MPTI) Stock — Forensic Analysis, Red Flags & Rating | Stockonomy · Stockonomy
Forensic Analysis · Technology / Software · as of Aug 12, 2026
M-Tron Industries, Inc. (MPTI)
A forensic read on M-Tron Industries, Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
C · Mixed — selective
Forensic grade
Safe
Financial health
20.0
Distress distance
Clean
Earnings quality
3
Forensic signals
41.5
P / E (ttm)
13.4%
ROE
$370M
Market cap
11.0%
Revenue growth
This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.
M-Tron Industries, Inc. earns a C (Mixed — selective) forensic quality grade, and its balance-sheet distress test reads 20.0, placing it in the Safe zone. 3 forensic signals were flagged in its latest SEC filings, led by accruals ratio (% of noa).
What the filings flag
+77.7%
FY2024→FY2025
Accruals ratio (% of NOA).Net operating assets grew +77.7% relative to their own average in FY2025 — scaled by NOA itself, not total assets (see the Forensic Screens card's differently-scaled Sloan Accrual Ratio for that read). Accruals are building sharply — a large slice of profit sits in operating assets, not cash; Richardson/Sloan link high accruals to weaker future returns as they reverse. This is the third straight fiscal year of building accruals — a multi-year streak is a materially stronger tell than a single year's move. The cash-flow cross-check is more mixed: reported earnings ran behind operating cash by 7% of net operating assets, diverging from the balance-sheet accrual read.
+6.4%/yr
FY2022–FY2025
Share-count dilution.Diluted share count changed +21% over the last 3 years to FY2025 (+6.4%/yr). The count is growing: more stock was issued than repurchased over this window, so aggregate results grew faster than their per-share equivalents. That's ~6.4% shaved off per-share growth every year — total profit has to grow that much just to keep earnings-per-share flat, and a stake held since FY2022 has been diluted ~17%.
2.0% of rev
FY2025
Stock-based comp load.Stock-based compensation ran 2.0% of revenue and 13% of free cash flow in FY2025 — about $0.34 per diluted share. The cost of it is not in the cash flow — no cash left the business — it is in the count: holders gave up about 6.5% of the company a year, and that rate is not falling. That is the figure to weigh, not the share of free cash flow.
Key fundamentals
Latest Revenue$54.4M
Revenue Growth YoY+11.0%
Revenue CAGR (3yr)+19.5%
Net Margin15.5%
Free Cash Flow$8.1M
Return on Equity13.4%
The forensic grade and screens above are free — no account needed. Want the AI investment read on top — the 0–100 rating, thesis, bull-vs-bear, red flags and the 12-month scenario, written from M-Tron Industries, Inc.'s actual 10-K/10-Q/8-K filings?