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Nortech Systems Incorporated provides design and manufacturing solutions for electromedical devices, electromechanical systems, assemblies, and components in the United States, Mexico, and China. It offers a range of technical and manufacturing, and support services, including project management, designing, testing, prototyping, manufacturing, supply chain management, and post-market services. The company also provides manufacturing and engineering services for medical devices, printed circuit board assemblies, wire and cable assemblies, and higher-level electromechanical assemblies. In addition, it offers engineering and repair services. The company serves original equipment manufacturers in the medical, aerospace and defense, and industrial markets through business development teams and independent manufacturers' representatives. Nortech Systems Incorporated was founded in 1990 and is headquartered in Maple Grove, Minnesota.
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| Breakdown | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Income before tax | 3.48M | 8.01M | -1.24M | -0.82M | 0.49M |
| Net income | 2.01M | 7.15M | -1.55M | -1.23M | 0.17M |
| Selling general administrative | 11.43M | 10.00M | 8.04M | 9.63M | 8.43M |
| Selling and marketing expenses | 3.72M | 2.36M | 2.47M | 2.72M | 3.63M |
| Gross profit | 20.48M | 15.86M | 8.46M | 12.58M | 13.31M |
| Reconciled depreciation | 1.92M | 1.95M | 2.19M | 2.22M | 2.19M |
| Ebit | 1.96M | 2.27M | -4.25M | -2.00M | -0.94M |
| Ebitda | 3.87M | 4.97M | -2.06M | 0.22M | 1.25M |
| Depreciation and amortization | 1.92M | 2.70M | 2.19M | 2.22M | 2.19M |
| Operating income | 1.96M | 2.27M | -2.06M | -2.00M | 1.25M |
| Other operating expenses | 130.25M | 112.15M | 106.17M | 116.11M | 112.12M |
| Interest expense | 0.41M | 0.43M | 0.62M | 1.04M | 0.76M |
| Tax provision | 1.47M | 0.86M | 0.31M | 0.41M | 0.33M |
| Interest income | - | - | - | 1.04M | 0.76M |
| Net interest income | -0.41M | -0.43M | -0.62M | -1.04M | -0.76M |
| Non recurring | - | - | -1.45M | - | - |
| Income tax expense | 1.47M | 0.86M | 0.31M | 0.41M | 0.33M |
| Total revenue | 134.12M | 115.17M | 104.11M | 116.33M | 113.37M |
| Total operating expenses | 16.61M | 12.85M | 10.52M | 12.35M | 12.06M |
| Cost of revenue | 113.64M | 99.30M | 95.65M | 103.76M | 100.06M |
| Total other income expense net | 1.52M | 5.74M | 0.83M | 1.18M | -0.76M |
| Net income from continuing ops | 2.01M | 7.15M | -1.55M | -1.23M | 0.17M |
| Net income applicable to common shares | 2.01M | 7.15M | -1.55M | -1.23M | 0.17M |
| Breakdown | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Total assets | 75.13M | 69.54M | 67.09M | 57.63M | 61.41M |
| Intangible assets | 0.26M | 0.42M | 0.50M | 1.17M | 1.34M |
| Other current assets | 1.70M | 1.33M | 1.66M | 2.03M | 2.13M |
| Total liab | 39.78M | 41.46M | 40.98M | 38.92M | 41.43M |
| Total stockholder equity | 35.34M | 28.08M | 26.11M | 18.72M | 19.98M |
| Other current liab | 5.20M | 3.26M | 7.95M | -2.55M | 6.80M |
| Common stock | 0.03M | 0.03M | 0.03M | 0.03M | 0.03M |
| Capital stock | 0.28M | 0.28M | 0.28M | 0.28M | 0.28M |
| Retained earnings | 18.67M | 11.83M | 9.82M | 2.66M | 4.21M |
| Other liab | - | 0.10M | 0.10M | 0.15M | 0.12M |
| Good will | - | - | - | 0.00M | 2.38M |
| Other assets | 0.00M | 0.00M | - | 9.00M | - |
| Cash | 1.68M | 1.03M | 0.64M | 0.35M | 0.35M |
| Total current liabilities | 26.58M | 23.00M | 22.31M | 11.24M | 22.23M |
| Current deferred revenue | 4.07M | 3.41M | - | - | - |
| Net debt | 12.50M | 17.03M | 19.57M | 21.43M | 20.27M |
| Short term debt | 1.39M | 1.54M | 1.64M | 2.55M | 1.42M |
| Short long term debt | - | - | - | 1.20M | 0.44M |
| Short long term debt total | 14.18M | 18.06M | 20.21M | 21.79M | 20.62M |
| Other stockholder equity | 16.93M | 16.35M | 15.96M | 15.82M | 15.75M |
| Property plant equipment | - | 14.26M | 14.82M | 15.42M | 9.58M |
| Total current assets | 58.79M | 54.86M | 51.77M | 41.04M | 43.28M |
| Net tangible assets | - | 27.41M | 25.36M | 17.30M | 16.01M |
| Net receivables | 33.76M | 28.61M | 28.45M | 21.52M | 26.22M |
| Long term debt | 5.82M | 6.85M | 8.96M | 9.19M | 13.27M |
| Inventory | 21.66M | 22.44M | 19.43M | 13.92M | 14.28M |
| Accounts payable | 15.92M | 14.79M | 12.71M | 11.24M | 14.01M |
| Accumulated other comprehensive income | -0.53M | -0.37M | 0.06M | -0.04M | -0.26M |
| Common stock total equity | - | - | - | 0.03M | 0.03M |
| Preferred stock total equity | - | - | - | 0.25M | 0.25M |
| Retained earnings total equity | - | - | - | 2.66M | 4.21M |
| Non currrent assets other | -0.00M | - | - | 9.00M | 4.83M |
| Non current assets total | 16.33M | 14.68M | 15.32M | 16.60M | 18.13M |
| Capital lease obligations | 8.36M | 9.66M | 11.26M | 11.39M | 7.23M |
| Long term debt total | - | - | - | 9.19M | 13.27M |
| Breakdown | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Investments | -2.43M | -0.73M | 5.50M | -0.76M | -1.39M |
| Change to liabilities | 2.22M | 1.47M | -2.95M | -2.71M | 6.64M |
| Total cashflows from investing activities | -2.43M | -0.73M | 5.50M | -0.76M | -1.39M |
| Net borrowings | -2.72M | 3.90M | -3.96M | -0.40M | -0.61M |
| Total cash from financing activities | -2.67M | 3.93M | -3.96M | -0.53M | -0.89M |
| Change to operating activities | 4.53M | 2.11M | 0.37M | -0.05M | 0.35M |
| Net income | 2.01M | 7.15M | -1.55M | -1.23M | 0.17M |
| Change in cash | 0.26M | -1.34M | 2.90M | -0.29M | 0.17M |
| Begin period cash flow | 2.23M | 3.56M | 0.66M | 0.95M | 0.78M |
| End period cash flow | 2.48M | 2.23M | 3.56M | 0.66M | 0.95M |
| Total cash from operating activities | 5.40M | -4.54M | 1.36M | 1.00M | 2.44M |
| Depreciation | 1.92M | 1.95M | 2.19M | 2.22M | 2.19M |
| Other cashflows from investing activities | - | - | 5.99M | -0.04M | 0.01M |
| Change to inventory | -2.98M | -4.61M | -0.22M | 2.34M | -3.88M |
| Change to account receivables | 0.83M | -4.08M | 3.02M | 1.41M | -2.75M |
| Sale purchase of stock | - | - | 0.00M | -0.13M | -0.28M |
| Other cashflows from financing activities | 119.40M | 5.72M | -0.68M | 0.83M | 0.76M |
| Change to netincome | 0.10M | -11.58M | -0.59M | 0.20M | 0.13M |
| Capital expenditures | 2.44M | 1.36M | 0.52M | 0.76M | 1.40M |
| Change receivables | - | - | 3.02M | 1.41M | -2.75M |
| Cash flows other operating | - | - | 2.52M | 1.10M | -3.93M |
| Exchange rate changes | - | - | - | -0.00M | 0.00M |
| Cash and cash equivalents changes | - | - | 2.90M | -0.29M | 0.17M |
| Change in working capital | 1.37M | -7.27M | 1.31M | -0.80M | -0.32M |
| Stock based compensation | 0.33M | 0.11M | 0.07M | 0.14M | 0.13M |
| Other non cash items | -0.23M | 0.14M | 0.11M | 0.64M | 0.28M |
| Free cash flow | 2.96M | -5.90M | 0.84M | 0.24M | 1.04M |
Sector: Healthcare Industry: Medical Devices
|
Stock Name
|
Change
(USD) |
Price
(USD) |
Trailing
PE (x) |
Forward
PE (x) |
Price Sales
TTM (x) |
Price to Book Value (x)
|
Enterprise Value
to Revenue (x) |
Enterprise Value
to EBITDA (x) |
|---|---|---|---|---|---|---|---|---|
| NSYS Nortech Systems Incorporated |
0.15 1.42% |
10.69 | 5.15 | - | 0.31 | 1.25 | 0.41 | 7.16 |
| ABT Abbott Laboratories |
0.24 0.22% |
110.75 | 25.97 | 17.24 | 3.57 | 3.20 | 3.81 | 16.75 |
| MDT Medtronic PLC |
-1.20 1.17% |
101.59 | 26.60 | 15.87 | 3.35 | 2.08 | 3.90 | 14.12 |
| SYK Stryker Corporation |
-1.51 0.46% |
324.22 | 29.23 | 16.86 | 4.18 | 4.51 | 4.63 | 17.16 |
| SEMHF Siemens Healthineers AG |
-0.98 1.99% |
48.27 | 39.57 | 21.32 | 3.01 | 3.29 | 2.95 | 16.92 |
Nortech Systems Incorporated provides design and manufacturing solutions for electromedical devices, electromechanical systems, assemblies, and components in the United States, Mexico, and China. It offers a range of technical and manufacturing, and support services, including project management, designing, testing, prototyping, manufacturing, supply chain management, and post-market services. The company also provides manufacturing and engineering services for medical devices, printed circuit board assemblies, wire and cable assemblies, and higher-level electromechanical assemblies. In addition, it offers engineering and repair services. The company serves original equipment manufacturers in the medical, aerospace and defense, and industrial markets through business development teams and independent manufacturers' representatives. Nortech Systems Incorporated was founded in 1990 and is headquartered in Maple Grove, Minnesota.
7550 Meridian Circle North, Maple Grove, MN, United States, 55369
952 345 2244
733
| Name | Title | Year Born |
|---|---|---|
| Mr. Jay Dean Miller | Pres, CEO & Director | 1960 |
| Mr. Christopher D. Jones | CFO & Sr. VP | 1971 |
| Mr. John Lindeen | Sr. VP of Global Operations | 1965 |
| Mr. Curtis J. Steichen | Sr. VP & Chief Sales Officer | 1957 |
| Ms. Cathy Vold | VP of Marketing & Engineering Services | NA |
| Ms. Monica Hamling | VP of People Operations & Culture | NA |
| Alan Nordstrom | Corp. Controller | NA |
| Mark T. Hooley | Sec. | NA |
| Mr. Jay Dean Miller | President, CEO & Director | 1960 |
| Mr. Andrew D.C. LaFrence CPA | CFO & SVP of Finance | 1963 |
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