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ESPEY MFG & ELECTRONICS CORP
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
3.00M
Op. Cash Flow
$20.99M
Business
Espey Mfg. & Electronics Corp. is a power electronics design and original equipment manufacturing (OEM) company serving military and severe-environment markets. The company designs and manufactures power supplies, power converters, filters, power transformers, magnetic components, power distribution equipment, UPS systems, and antennas for applications including locomotives, shipboard systems, airborne systems, and radar. Espey operates as a vertically integrated manufacturer with in-house component production, circuit-board assembly, metal fabrication, painting, wiring, and comprehensive mechanical, electrical, and environmental testing; it also provides design services, build-to-print manufacturing, and environmental testing to defense contractors, U.S. government agencies, and industrial customers.
Summary from 10-K filed 2025-09-16
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | 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 | Trend | 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 | Trend | 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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Frequently asked questions
What is ESPEY MFG & ELECTRONICS CORP's CIK number?
ESPEY MFG & ELECTRONICS CORP's SEC CIK number is 0000033533 (33533). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find ESPEY MFG & ELECTRONICS CORP's SEC filings?
All of ESPEY MFG & ELECTRONICS CORP's EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.