Loading financials from SEC filings…
Communication equipment · Technology · Fiscal year ends Sep 30
Esco Technologies reported revenue of $1.1B in the fiscal year ended Sep 2025, up 19.2% from the year before. Operating income was $170M, an operating margin of 15.6%, and net income was $299M. Operating cash flow of $242M less capital expenditure of $36M left free cash flow of $206M. Net debt was $85M.
Ranks among the 15 communication equipment companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Sep 2021 | Sep 2022 | Sep 2023 | Sep 2024 | Sep 2025 |
|---|---|---|---|---|---|
| Revenue | 715 | 858 | 856 | 919 | 1,095 |
| Cost of revenue | 445 | 525 | 503 | 531 | 634 |
| Gross profit | 270 | 332 | 353 | 389 | 461 |
| Research & development | 15.4 | 12.3 | 13.0 | 12.0 | 23.0 |
| Selling, general & admin | 168 | 195 | 203 | 208 | 235 |
| Operating income | – | – | 119 | 146 | 170 |
| Net interest incomeBanks | −2.3 | −4.9 | −8.8 | −15.2 | −17.5 |
| Interest expense | 2.2 | 4.9 | 8.8 | 15.2 | 17.5 |
| Pre-tax income | 80.7 | 106 | 110 | 131 | 153 |
| Income tax | 17.2 | 24.1 | 24.7 | 28.3 | 36.6 |
| Net income | 63.5 | 82.3 | 92.5 | 102 | 299 |
| Diluted EPS | 2.42 | 3.16 | 3.58 | 3.94 | 11.55 |
| Diluted shares | 26.2 | 26.1 | 25.9 | 25.9 | 25.9 |
| Fiscal year | Sep 2021 | Sep 2022 | Sep 2023 | Sep 2024 | Sep 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 56.2 | 97.7 | 41.9 | 66.0 | 101 |
| Receivables | 146 | 165 | 189 | 222 | 254 |
| Inventory | 147 | 162 | 184 | 195 | 218 |
| Current assets | 466 | 573 | 581 | 669 | 689 |
| Net PP&E | 154 | 156 | 155 | 149 | 172 |
| Goodwill | 505 | 493 | 493 | 530 | 762 |
| Total assets | 1,577 | 1,654 | 1,683 | 1,839 | 2,410 |
| Payables | 56.7 | 78.7 | 87.0 | 88.9 | 96.5 |
| Deferred revenue | 106 | 125 | 112 | 80.8 | 217 |
| Current liabilities | 275 | 318 | 315 | 350 | 508 |
| Short-term debt | 20.0 | 20.0 | 20.0 | 20.0 | 20.0 |
| Long-term debt | 134 | 133 | 82.0 | 102 | 166 |
| Total liabilities | 558 | 606 | 552 | 601 | 870 |
| Shareholders' equity | 1,020 | 1,048 | 1,131 | 1,237 | 1,541 |
| Fiscal year | Sep 2021 | Sep 2022 | Sep 2023 | Sep 2024 | Sep 2025 |
|---|---|---|---|---|---|
| Operating cash flow | 123 | 135 | 76.9 | 128 | 242 |
| Capital expenditure | 26.7 | 32.1 | 19.7 | 28.3 | 36.3 |
| Free cash flow | 96.4 | 103 | 57.2 | 99.3 | 206 |
| Depreciation & amortisation | 42.0 | 48.3 | 47.7 | 52.2 | 75.0 |
| Stock-based compensation | 6.9 | 7.3 | 8.9 | 8.6 | 10.7 |
| Acquisitions | 169 | 10.9 | 17.7 | 56.4 | 472 |
| Share buybacks | – | 19.9 | 12.4 | 8.0 | – |
| Dividends paid | 8.3 | 8.3 | 8.3 | 8.2 | 8.3 |
| Dividend per share | 0.32 | 0.32 | 0.32 | 0.32 | 0.32 |
| Fiscal year | Sep 2021 | Sep 2022 | Sep 2023 | Sep 2024 | Sep 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 19.9% | −0.2% | 7.4% | 19.2% |
| Operating income growth (YoY) | – | – | – | 22.7% | 16.5% |
| EPS growth (YoY) | – | 30.6% | 13.3% | 10.1% | 193.1% |
| Gross margin | 37.8% | 38.7% | 41.3% | 42.3% | 42.1% |
| Operating margin | – | – | 13.9% | 15.9% | 15.6% |
| Net margin | 8.9% | 9.6% | 10.8% | 11.1% | 27.3% |
| Return on equityBlank when equity is negative | 6.2% | 7.9% | 8.2% | 8.2% | 19.4% |
| ROCEEBIT ÷ (assets − current liabilities) | – | – | 8.7% | 9.8% | 9.0% |
| Free cash flow margin | 13.5% | 12.0% | 6.7% | 10.8% | 18.8% |
| Cash conversion (CFO ÷ net income) | 1.94x | 1.64x | 0.83x | 1.25x | 0.81x |
| Receivable days | 75 | 70 | 81 | 88 | 84 |
| Inventory days | 121 | 113 | 134 | 134 | 125 |
| Payable days | 46 | 55 | 63 | 61 | 56 |
| Interest cover | – | – | 13.6x | 9.59x | 9.73x |
| Debt ÷ equity | 0.15x | 0.15x | 0.09x | 0.10x | 0.12x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | 97.8 | 55.3 | 60.1 | 56.0 | 84.7 |
| Current ratio | 1.70x | 1.80x | 1.85x | 1.91x | 1.35x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.