ESCO TECHNOLOGIES INC

Listed Company

ESECIK 0000866706NYSELarge AcceleratedCommunications Equipment, NecMissouriFY ends Sep 30

Period

FY 2025

Revenue

$1.10B

Net Income

$299.22M

Total Assets

$2.41B

Equity

$1.54B

Shares Out

25.90M

Op. Cash Flow

$241.94M

Business

ESCO Technologies Inc is a global provider of highly engineered components and systems serving aviation, naval, defense and industrial customers. It designs, manufactures and supports specialty filtration and fluid control products, naval signature management and power systems, RF test and measurement systems, and diagnostic instruments, software and services for electric utilities and renewable energy markets. The company operates through three reporting segments: Aerospace & Defense, Utility Solutions Group, and RF Test & Measurement. Products are sold worldwide through distributors, direct sales teams, sales representatives and government contracts.

Summary from filing dated 2025-12-01

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-09-30	FY 2024 2024-09-30	FY 2023 2023-09-30	FY 2022 2022-09-30	FY 2021 2021-09-30
Net sales	1,095	919	856	858	715
Cost of sales	634	531	503	525	445
Selling, general and administrative expenses	235	208	203	195	168
Amortization of intangible assets	53	33	29	26	21
Interest expense, net	18	15	9	5	2
Other expenses (income), net	3	1	2	−304,000	−894,000
Total costs and expenses	943	788	745	751	635
Earnings before income tax	153	131	110	106	81
Income tax expense	37	28	25	24	17
Net earnings from continuing operations	116	103	86	82	63
Earnings (loss) from discontinued operations, net of tax expense of $3,464, tax benefit of $317 and tax expense of $1,718 in 2025, 2024 and 2023, respectively	10	−747,000	7	—	—
Gain on sale from discontinued operations, net of tax expense of $54,000	173	—	—	—	—
Net earnings (loss) from discontinued operations	183	−747,000	7	—	—
Net earnings	299	102	93	82	63
Continuing operations (In dollars per share)	4.5	3.98	3.32	3.17	2.44
Discontinued operations (In dollars per share)	7.09	−0.03	0.27	—	—
Net earnings (In dollars per share)	11.59	3.95	3.59	3.17	2.44
Continuing operations (In dollars per share)	4.49	3.97	3.31	3.16	2.42
Discontinued operations (In dollars per share)	7.06	−0.03	0.27	—	—
Net earnings (In dollars per share)	11.55	3.94	3.58	3.16	2.42
Average common shares outstanding - Basic (In shares)	26	26	26	26	26
Average common shares outstanding - Diluted (In shares)	26	26	26	26	26

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-09-30	FY 2024 2024-09-30	FY 2023 2023-09-30	FY 2022 2022-09-30	FY 2021 2021-09-30
Cash and cash equivalents	101	66	42	98	56
Accounts receivable, less allowance for credit losses of $3,205 and $2,734 in 2025 and 2024, respectively	254	222	189	165	146
Contract assets, net	91	67	139	125	94
Inventories	218	195	184	162	147
Other current assets	25	21	18	23	23
Assets from discontinued operations - current	—	97	—	—	—
Total current assets	689	669	581	573	466
Land and land improvements	9	9	12	12	11
Buildings and leasehold improvements	131	119	113	110	109
Machinery and equipment	198	178	187	187	176
Construction in progress	21	13	18	12	6
Property, Plant and Equipment, Gross	359	318	330	321	302
Less accumulated depreciation and amortization	−187	−169	−175	−165	−148
Net property, plant and equipment	172	149	156	156	154
Intangible assets, net	724	404	392	394	409
Goodwill	762	530	493	493	505
Operating lease assets, net	48	37	40	29	32
Other assets	16	14	11	10	11
Assets from discontinued operations - other	—	36	—	—	—
Total Assets	2,410	1,839	1,683	1,655	1,577
Current maturities of long-term debt	20	20	20	20	20
Accounts payable	97	89	87	79	57
Contract liabilities, net	217	81	112	125	106
Accrued salaries	53	42	44	41	40
Income tax payable - current	62	6	—	—	—
Accrued other expenses	60	50	52	54	53
Liabilities from discontinued operations - current	—	62	—	—	—
Total current liabilities	508	350	315	318	275
Deferred tax liabilities, net	112	73	76	82	74
Non-current operating lease liabilities	44	35	37	25	28
Other liabilities	39	39	43	48	47
Long-term debt	166	102	82	133	134
Liabilities from discontinued operations - other	—	3	—	—	—
Total liabilities	870	601	552	606	558
Preferred stock, par value $.01 per share, authorized 10,000,000 shares	—	—	—	—	—
Common stock, par value $.01 per share, authorized 50,000,000 shares; issued 30,886,024 and 30,809,483 shares in 2025 and 2024 respectively	309,000	308,000	308,000	307,000	307,000
Additional paid-in capital	316	312	305	302	298
Retained earnings	1,374	1,083	989	905	831
Accumulated other comprehensive loss, net of tax	−3	−11	−24	−32	−2
Total stockholders' equity before treasury stock	1,688	1,384	1,271	1,175	1,127
Less treasury stock, at cost (5,056,771 and 5,056,771 common shares in 2025 and 2024, respectively)	−147	−147	−139	−127	−107
Total shareholders' equity	1,541	1,237	1,131	1,048	1,020
Total Liabilities and Shareholders' Equity	2,410	1,839	1,683	1,654	1,577

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-09-30	FY 2024 2024-09-30	FY 2023 2023-09-30	FY 2022 2022-09-30	FY 2021 2021-09-30
Net earnings	299	102	93	82	63
(Earnings) loss from discontinued operations, net of tax	−183	747,000	−7	—	—
Depreciation and amortization	75	52	48	48	42
Stock compensation expense	11	9	9	7	7
Changes in assets and liabilities	9	−33	−56	−12	16
Effect of deferred taxes on tax provision	−11	−8	−5	9	−3
Net cash provided by operating activities - continuing operations	200	122	81	135	123
Net cash provided (used) by operating activities - discontinued operations	42	6	−4	—	—
Net cash provided by operating activities	242	128	77	135	123
Acquisition of businesses, net of cash acquired	−472	−56	−18	−11	−169
Capital expenditures	−36	−28	−20	−32	−27
Additions to capitalized software and other	−16	−12	−10	−13	−9
Net cash used by investing activities - continuing operations	−524	−97	−48	−56	−202
Net cash provided (used) by investing activities - discontinued operations	268	−8	−5	—	—
Net cash used by investing activities	−256	−105	−52	−56	−202
Proceeds from long-term debt	661	217	103	100	216
Principal payments on long-term debt	−597	−197	−154	−101	−124
Dividends paid	−8	−8	−8	−8	−8
Purchases of common stock into treasury	—	−8	−12	−20	—
Debt issuance costs	—	−3	−2	—	—
Other	−6	−2	−5	−3	−2
Net cash provided (used) by financing activities - continuing operations	50	−773,000	−78	−32	81
Net cash provided (used) by financing activities	50	−773,000	−78	−32	81
Effect of exchange rate changes on cash and cash equivalents	−304,000	2	−2	−6	2
Net increase (decrease) in cash and cash equivalents	35	24	−56	41	4
Accounts receivable, net	−8	−32	−31	−18	11
Contract assets and liabilities, net	21	10	−18	−12	9
Inventories	−5	−24	−16	−14	612,000
Other assets and liabilities	−5	−8	511,000	9	−477,000
Accounts payable	−2	11	5	22	−688,000
Accrued expenses	9	9	4	832,000	−4
Interest paid	17	15	9	3	590,000
Income taxes paid (including state & foreign)	50	38	30	10	26

Filings

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