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TRNS

Transcat, Inc.

TRNS

Transcat, Inc. • NASDAQ
$56.54 ▲ 0.57% (+0.32)
Market Cap $527.22 M
52w High $111.45
52w Low $52.06
Dividend Yield 0%
P/E 46.34
Volume 54.99K
Outstanding Shares 9.32M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2025 $82.272M ▲ $23.257M ▲ $1.269M ▼ 1.542% ▼ $0.136 ▼ $9.785M ▼
Q1-2025 $77.134M $18.973M $4.464M 5.787% $0.48 ▼ $12.353M
Q4-2024 $77.134M ▲ $18.973M ▲ $4.464M ▲ 5.787% ▲ $0.49 ▲ $12.353M ▲
Q3-2024 $67.826M $17.471M $3.286M 4.845% $0.36 $8.189M
Q2-2024 $67.826M $17.471M $3.286M 4.845% $0.36 $8.189M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2025 $5.082M ▲ $484.887M ▲ $189.47M ▲ $295.417M ▲
Q1-2025 $1.861M ▲ $392.536M ▲ $100M ▲ $292.536M ▲
Q4-2024 $1.517M ▼ $385.242M ▼ $98.362M ▼ $286.88M ▲
Q3-2024 $4.64M ▼ $386.009M ▲ $104.929M ▲ $281.08M ▲
Q2-2024 $23.815M $323.553M $54.796M $268.757M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $1.269M ▼ $12.855M ▲ $-86.958M ▼ $77.248M ▲ $3.221M ▲ $8.423M ▲
Q1-2025 $3.261M ▼ $3.623M ▼ $-4.598M ▼ $1.946M ▲ $344K ▲ $-975K ▼
Q4-2024 $4.464M ▲ $10.628M ▼ $-4.036M ▲ $-9.446M ▼ $-3.123M ▲ $7.933M ▼
Q3-2024 $2.357M ▼ $12.598M ▲ $-72.006M ▼ $39.654M ▲ $-19.175M ▼ $9.729M ▲
Q2-2024 $3.286M $6.835M $-3.864M $-1.411M $1.158M $2.876M

Revenue by Products

Product Q3-2024Q4-2024Q1-2025Q2-2025
Distribution Service
Distribution Service
 $30.00M ▲$30.00M ▲$30.00M ▲$30.00M ▲
Service
Service
 $40.00M ▲$50.00M ▲$50.00M ▲$50.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Transcat’s income statement shows a steady, healthy growth story. Revenue has climbed consistently over the past five years, and gross profit has risen alongside it, suggesting the core business is expanding, not just treading water. Operating profit and EBITDA have also improved over time, indicating that scale is helping earnings. Net income has grown more modestly, and earnings per share have bounced around a bit recently rather than rising in a straight line, which hints at some margin pressure or investment spending. Overall, the company looks like a steadily growing, reasonably profitable niche player, with no obvious signs of financial distress in its operations.

Balance Sheet

Balance Sheet The balance sheet reflects a company that has been building up its asset base and strengthening its equity over time. Total assets and shareholders’ equity have both increased meaningfully, which is typical of a business that is growing and reinvesting. Debt has moved up in the most recent year after having been lower, suggesting the company is now leaning somewhat more on borrowing, likely to support expansion or acquisitions. The cash balance, however, is quite thin, which means liquidity depends more on ongoing cash generation and credit access than on a large cash cushion. In short, the balance sheet shows growth and a solid equity foundation, but with a watch point around limited on-hand cash and higher recent borrowing.

Cash Flow

Cash Flow Cash flow is a clear strength. The company has generated positive operating cash flow every year, and this cash has generally covered both investment spending and left room for positive free cash flow. Capital spending has been steady but not excessive, indicating ongoing investment in the business without overreaching. The pattern suggests a business that can fund most of its growth internally, which reduces reliance on outside financing over the long term. The main nuance is that with limited cash on the balance sheet, maintaining this dependable cash generation is especially important.

Competitive Edge

Competitive Edge Transcat occupies a specialized niche in calibration and measurement services for highly regulated and quality‑sensitive industries like life sciences and aerospace. These customers value reliability and compliance, which makes relationships sticky and switching providers costly. The company’s broad accreditations, national network of labs, and trained technician base create real barriers for new entrants. Its dual model—services plus distribution and rentals—gives customers a one‑stop solution and deepens relationships. A long operating history and strong reputation further reinforce its position. Overall, the moat looks meaningful for a mid‑sized industrial services company, especially in regulated markets where trust, accreditation, and track record matter more than price alone.

Innovation and R&D

Innovation and R&D Innovation for Transcat is less about classic lab R&D and more about applied technology and process improvement. Its proprietary C3 software platform is a key differentiator, giving customers a digital hub for managing compliance and calibration data. The company is also investing in automation and exploring AI to improve calibration efficiency and data analysis, which could enhance both margins and customer value over time. Strategic acquisitions are another core part of its innovation approach, bringing in specialized capabilities and technologies, particularly in life sciences and complex manufacturing. Internal talent development, such as its in‑house technician training, supports the technical depth required in this field. Taken together, these efforts point to a company that is steadily upgrading its technology and expertise rather than standing still.

Summary

Transcat looks like a steadily growing, specialized industrial services company with a clear focus and a defensible niche. Its income statement shows consistent top‑line growth and decent profitability, its balance sheet has strengthened over time despite a recent uptick in debt and a thin cash buffer, and its cash flows are positive and supportive of reinvestment. Competitively, its focus on regulated, high‑stakes industries, broad accreditations, and dual services‑plus‑distribution model create sticky customer relationships and meaningful barriers to entry. On the innovation front, proprietary software, process automation, selective use of AI, and capability‑enhancing acquisitions all support its long‑term positioning. The main areas to monitor are margin trends, leverage and liquidity given limited cash, and execution on technology and acquisition integration, but the overall profile is that of a focused, cash‑generative niche leader in a specialized industrial segment.

NEWS

November 3, 2025 · 4:01 PM UTC

Transcat Reports Strong Fiscal Second Quarter 2026 Financial Results with Double-Digit Revenue & Gross Profit Growth

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October 28, 2025 · 8:31 AM UTC

Transcat to Attend Upcoming Investor Conferences in November

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October 21, 2025 · 8:31 AM UTC

Transcat to Host Second Quarter Fiscal Year 2026 Conference Call and Webcast on Monday, November 3, 2025 at 4:30 p.m. Eastern Time

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