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M-tron Industries (MPTI) earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 12, 2026 · M-tron Industries (MPTI) Q2 2026 earnings results →
Q2 2026 Revenue up 14% year over year to $15.1M · 12¢ of every $1 of revenue kept as net profit · operating margin 11.4%
M-tron Industries made $15.1M in Q2 2026 (+14% Y/Y). Operating margin 11.4%, net earnings $1.9M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 12, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $15.1M in Q2 2026, up 14% year over year and up 3% from the previous quarter.
Operating profit was $1.7M, a 11.4% margin (down 2.5 points year over year). Operating profit fell $125K even though revenue rose $1.8M versus Q2 2025, so costs grew faster than sales. Total costs grew 17% against revenue growth of 14%. The fastest-growing cost line was Research & development (+35%). Net earnings were $1.9M, up 20% year over year. The effective tax rate was 23.5%. Non-operating items added $724K, 30% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $3.7M (up 30% year over year), 198% of net earnings. Non-cash charges added back $311K of depreciation and $1.3M of share-based compensation. Working capital and other items added $186K. Capital expenditures of $937K left free cash flow of $2.8M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Aug 12, 2026 | $15.1M | +14% | 11.4% | $1.9M | $3.7M |
| Q1 2026 | 10-Q | May 13, 2026 | $14.7M | +15% | 17.8% | $2.4M | $2.1M |
| Q4 2025 | 10-K | Mar 26, 2026 | $14.2M | +11% | 27.3% | $3.4M | $2.7M |
| Q3 2025 | 10-Q | Nov 12, 2025 | $14.2M | +7% | 18.0% | $1.8M | $3.5M |
| Q2 2025 | 10-Q | Aug 12, 2025 | $13.3M | +12% | 13.9% | $1.6M | $2.9M |
| Q1 2025 | 10-Q | May 13, 2025 | $12.7M | +14% | 15.8% | $1.6M | $1.6M |
| Q4 2024 | 10-K | Mar 27, 2025 | $12.8M | +19% | 20.1% | $2.1M | $1.8M |
Charts
Interactive views
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About M-tron Industries
M-tron Industries, Inc. (the "Company," "Mtron," "we," "us," or "our") is engaged in the designing, manufacturing and marketing of highly engineered, high reliability frequency and spectrum control products used to control the frequency or timing of signals in electronic circuits in various applications. Mtron’s primary markets are aerospace & defense, avionics, industrials, and space. Our component-level devices and modules are used extensively in electronic systems for applications in commercial and military defense, aerospace, satellites, down-hole drilling, medical devices, instrumentation, industrial devices and in infrastructure equipment for the telecommunications and network equipment industries.
In its own words, from its 10-Q, filed Aug 12, 2026.
M-tron Industries against its Electronic Components, NEC peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +14% against the peers' median +40%. Operating margin: 11.4% against the peers' median 11.4%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| MPTI M-tron Industries | Q2 2026 | $15.1M | +14% | 11.4% |
| VRT Vertiv Holdings | Q3 2026 | $4.3B | +61% | 22.8% |
| AEIS Advanced Energy Industries | Q3 2026 | $696M | +50% | 20.6% |
| VREX Varex Imaging | Q3 FY26 | $210M | +4% | 10.8% |
| VICR Vicor | Q3 2026 | $197M | +78% | 36.6% |
| PI Impinj | Q3 2026 | $112M | +17% | 4.1% |
| NSYS Nortech Systems | Q2 2026 | $33.5M | +9% | 1.9% |
| ESP Espey Manufacturing & Electronics | Q4 FY26 | $13.5M | +40% | 25.8% |
| MVIS Microvision | Q3 2026 | $2.4M | +896% | -889.0% |
Source: M-tron Industries 10-Q on SEC EDGAR · CIK 1902314 · Electronic Components, NEC
13F: who owns MPTI and who is buying
More on MPTI
History
Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results