ESPEY MFG & ELECTRONICS CORP

Listed Company

ESPCIK 0000033533NYSENon-AcceleratedSmaller ReportingElectronic Components, NecNew YorkFY ends Jun 30

Period

FY 2025

Revenue

$43.95M

Net Income

$8.14M

Total Assets

$79.12M

Equity

$50.85M

Shares Out

2.96M

Op. Cash Flow

$20.99M

Business

Espey Mfg & Electronics Corp is a power electronics design and original equipment manufacturing company that develops and delivers highly reliable products for military and severe environment applications. It offers power supplies, power converters, filters, power transformers, magnetic components, power distribution equipment, UPS systems, and antennas, plus design, build-to-print manufacturing, environmental testing and automatic test equipment development. Business operations are organized around power conversion, advanced magnetics and custom build-to-specification manufacturing and testing capabilities. The company sells primarily to prime defense contractors, U.S. and foreign governments and industrial manufacturers through direct sales and outside representatives.

Summary from filing dated 2025-09-16

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-06-30	FY 2024 2024-06-30	FY 2023 2023-06-30	FY 2022 2022-06-30	FY 2021 2021-06-30
Net sales	44	39	36	32	28
Cost of sales	31	28	28	27	24
Gross profit	13	11	8	5	3
Selling, general and administrative expenses	5	4	4	4	4
Operating income	8	7	4	2	−426,139
Interest income	1	728,299	359,617	12,153	21,376
Other	342,126	27,263	46,836	51,761	36,566
Total other income	2	755,562	406,453	63,914	57,942
Income before provision for income taxes	10	7	5	2	−368,197
Provision for income taxes	2	1	1	327,954	−186,654
Net income	8	6	4	1	−181,543
Unrealized gain on investment securities	5,052	8,973	−497	429	746
Total comprehensive income	8	6	4	1	−180,797
Basic (in Dollars per share)	3.14	2.34	1.5	0.52	−0.08
Diluted (in Dollars per share)	3.02	2.29	1.49	0.52	−0.08
Basic (in Shares)	3	2	2	2	2
Diluted (in Shares)	3	3	2	2	2

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-06-30	FY 2024 2024-06-30	FY 2023 2023-06-30	FY 2022 2022-06-30	FY 2021 2021-06-30
Cash and cash equivalents	19	4	3	8	7
Investment securities	25	19	12	—	—
Trade accounts receivable, less allowance for credit losses of $3,000	8	7	6	6	5
Raw materials	2	2	2	2	2
Work-in-process	681,334	2	681,300	315,547	326,198
Costs related to contracts in process	15	16	17	16	16
Total inventories	18	19	20	19	19
Deferred tax asset	1	895,154	—	—	—
Prepaid expenses and other current assets	5	3	4	992,774	700,297
Total current assets	75	53	45	37	35
Property, plant and equipment, net	4	3	3	3	3
Total assets	79	57	48	40	38
Accounts payable	3	4	1	2	3
Salaries and wages	1	928,163	890,748	627,187	475,667
Vacation	568,078	511,144	685,188	666,380	672,611
Other	594,153	757,552	547,747	752,554	126,014
Payroll and other taxes withheld	93,456	56,862	66,042	55,292	409,881
Contract liabilities	23	9	8	3	3
Income taxes payable	298,510	220,607	—	54,722	—
Total current liabilities	28	15	11	8	7
Total liabilities	28	15	12	8	8
Commitments and Contingencies (See Note 13)	—	—	—	—	—
Common stock, par value $.33-1/3 per share Authorized 10,000,000 shares; Issued 3,129,874 shares as of March 31, 2025 and June 30, 2024. Outstanding 2,816,558 and 2,733,958 shares as of March 31, 2025 and June 30, 2024, respectively (includes 195,234 and 211,487 Unearned ESOP shares, respectively)	1	1	1	1	1
Capital in excess of par value	26	24	23	23	23
Accumulated other comprehensive gain (loss)	11,596	6,544	−2,429	−1,932	−2,361
Retained earnings	32	26	22	19	17
Total stockholders equity before ESOP	59	51	46	43	41
Less: Unearned ESOP shares	−3	−4	−4	−5	−5
Cost of 233,506 and 395,916 shares of common stock in treasury as of June 30, 2025 and 2024, respectively	−5	−6	−6	−6	−6
Total stockholders' equity	51	41	36	32	30
Total liabilities and stockholders' equity	79	57	48	40	38

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-06-30	FY 2024 2024-06-30	FY 2023 2023-06-30	FY 2022 2022-06-30	FY 2021 2021-06-30
Stock-based compensation	346,281	283,673	227,132	176,696	—
Depreciation	451,523	453,517	484,920	494,635	519,813
ESOP compensation expense	622,472	438,136	365,646	325,067	353,897
Deferred income tax benefit	−306,865	−1	−40,002	9,271	−64,396
Loss (gain) on disposal of property, plant and equipment	—	590	−2,500	—	—
Increase in trade accounts receivable	−963,398	−880,208	−22,108	−379,393	4
Decrease in income tax receivable	—	35,666	−35,666	249,602	−249,602
Increase in inventories	1	645,572	−1	231,443	−5
Increase in prepaid expenses and other current assets	−2	1	−3	−292,477	−303,411
Decrease in accounts payable	−1	3	−866,802	−638,996	−143,523
Increase in accrued salaries and wages	257,224	37,415	263,561	151,520	6,466
Increase in vacation accrual	56,934	−174,044	18,808	−6,231	—
Decrease other accrued expenses	−163,399	209,805	−204,807	626,540	−192,308
Increase in payroll and other taxes withheld	36,594	−9,180	10,750	−354,589	—
Increase in contract liabilities	14	961,584	5	306,869	902,370
Increase in income taxes payable	77,903	220,607	−54,722	54,722	—
Net cash provided by operating activities	21	11	4	2	594,996
Additions to property, plant and equipment	−4	−5	−512,016	−303,561	−43,554
Proceeds from grant award	3	4	—	—	—
Proceeds from sale of property, plant and equipment	—	150	2,500	—	—
Purchase of investment securities	−34	−26	−16	−4	—
Proceeds from sale/maturity of investment securities	28	20	8	4	7
Net cash used in investing activities	−7	−8	−9	−918,339	2
Dividends paid on common stock	−3	−2	−489,268	—	−1
Proceeds from exercise of stock options	3	526,362	—	—	—
Net cash provided by (used in) financing activities	458,268	−1	−489,268	—	−1
Increase in cash and cash equivalents	15	2	−5	1	1
Income taxes paid	2	2	1	—	—

Filings

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