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Intest Crop (INTT)
:INTT
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inTEST
(NYSE MKT:INTT)
67Neutral
Positive Factors
Acquisitions
The company has a team in place to successfully identify and integrate future acquisitions, which are expected to be a significant part of the growth story.
Growth Strategy
The VISION 2030 strategy outlines a strong, achievable roadmap for growth, with management noting better accounting for market cycles compared to previous targets.
Negative Factors
Macroeconomic Challenges
The near term remains challenged by the macroeconomic environment, but there is an expectation for incremental improvement as the company progresses.
inTEST (INTT) vs. S&P 500 (SPY)
Market Cap
$87.36M
Dividend YieldN/A
Average Volume (3M)45.52K
Price to Earnings (P/E)29.8
Beta (1Y)1.47
Revenue Growth5.99%
EPS Growth-71.06%
CountryUS
Employees393
SectorTechnology
Sector Strength44
IndustrySemiconductors
Share Statistics
EPS (TTM)0.24
Shares Outstanding12,373,276
10 Day Avg. Volume31,677
30 Day Avg. Volume45,525
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)0.71
Price to Cash Flow (P/CF)9.00
P/FCF Ratio9.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$13.00Price Target Upside84.14% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
inTEST Business Overview & Revenue Model
Company DescriptioninTEST Corporation (INTT) is a globally recognized designer and manufacturer of high-performance products and solutions utilized in various industries, including automotive, defense/aerospace, industrial, life sciences, security, and semiconductor markets. The company's core product offerings include temperature management solutions, process cooling technologies, and semiconductor test equipment. inTEST's innovative products are pivotal in ensuring the precision and efficiency of manufacturing and testing processes across these diverse sectors.
How the Company Makes MoneyinTEST Corporation generates revenue through the sale of its specialized products and solutions that cater to multiple high-tech industries. The company earns its income by providing advanced temperature management solutions that are critical for thermal testing and conditioning in electronics manufacturing and other industrial applications. Additionally, inTEST's process cooling technologies are integral in maintaining operational efficiencies in various industrial processes. Furthermore, the company's semiconductor test equipment is essential for the testing and validation of semiconductor devices, a crucial step in electronics manufacturing. Significant partnerships with leading companies in each industry, as well as ongoing innovation and product development, contribute to sustaining and expanding inTEST's revenue streams.
inTEST Financial Statement Overview
Summary
inTEST has demonstrated strong revenue growth and a solid balance sheet with low leverage and a healthy equity ratio. However, the decline in profit margins and reduced cash flow generation present challenges. While the company is financially stable, improving profitability and cash flow efficiency will be essential to sustain growth and enhance financial health. Investors should monitor these aspects closely to assess future performance.Income Statement
The company has demonstrated a solid revenue growth trajectory, with a year-over-year increase in revenue from 2023 to 2024. However, the gross profit margin declined slightly from 46.2% to 42.4%, indicating potential cost pressures. The net profit margin decreased from 7.6% to 2.2%, primarily due to a significant drop in EBIT, which impacted overall profitability. Despite these concerns, the company shows resilience with consistent revenue growth over the past years.78
Positive
Balance Sheet
The balance sheet remains strong with a healthy equity ratio of 65.5% in 2024, reflecting a solid capital structure. The debt-to-equity ratio remains low at 0.19, indicating conservative leverage. Return on equity decreased to 2.9% from the previous year's 9.7%, driven by reduced net income, which could be a potential risk if profitability does not recover. Overall, the company's financial stability is robust, supported by manageable debt levels and strong equity.82
Very Positive
Cash Flow
The cash flow statement shows a decline in operating cash flow from 2023 to 2024, negatively impacting free cash flow, which decreased by 83.2%. The operating cash flow to net income ratio is solid at 1.32, indicating efficient cash generation relative to profits. However, the decline in free cash flow compared to the previous year raises concerns about future liquidity if this trend continues. Despite the decrease, the company maintains positive free cash flow, which supports financial flexibility.68
Positive
| Breakdown | |||||
| TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 120.25M | 130.69M | 123.30M | 116.83M | 84.88M | 53.82M | Gross Profit |
| 52.45M | 55.42M | 56.98M | 53.44M | 41.22M | 24.10M | EBIT |
| 1.61M | 3.39M | 10.44M | 10.72M | 5.89M | -1.82M | EBITDA |
| 8.16M | 3.39M | 16.41M | 10.72M | 11.55M | 1.93M | Net Income Common Stockholders |
| 2.15M | 2.89M | 9.34M | 8.46M | 7.28M | -895.00K |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 17.86M | 19.83M | 45.26M | 13.43M | 21.20M | 10.28M | Total Assets |
| 67.19M | 152.29M | 134.83M | 110.07M | 102.97M | 62.03M | Total Debt |
| 0.00 | 18.50M | 17.46M | 22.49M | 26.72M | 7.26M | Net Debt |
| -17.86M | -1.33M | -27.80M | 9.06M | 5.52M | -3.01M | Total Liabilities |
| 24.31M | 52.50M | 38.55M | 45.11M | 48.15M | 17.28M | Stockholders Equity |
| 42.88M | 99.79M | 96.28M | 64.96M | 54.82M | 44.75M |
| Cash Flow | Free Cash Flow | ||||
| 4.45M | 2.50M | 14.91M | -2.75M | 9.84M | 2.59M | Operating Cash Flow |
| 5.92M | 3.82M | 16.20M | -1.39M | 10.83M | 3.25M | Investing Cash Flow |
| -20.20M | -20.05M | -1.29M | -1.17M | -21.37M | -648.00K | Financing Cash Flow |
| -9.13M | -8.64M | 15.61M | -3.73M | 21.73M | -74.00K |
inTEST Technical Analysis
Negative
7.06
Price Trends
8.23
Negative
8.11
Negative
8.16
Negative
Market Momentum
-0.23
Positive
32.80
Neutral
25.36
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For INTT, the sentiment is Negative. The current price of 7.06 is below the 20-day moving average (MA) of 7.66, below the 50-day MA of 8.23, and below the 200-day MA of 8.16, indicating a bearish trend. The MACD of -0.23 indicates Positive momentum. The RSI at 32.80 is Neutral, neither overbought nor oversold. The STOCH value of 25.36 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for INTT.
inTEST Peers Comparison
Overall Rating
UnderperformOutperform
Sector (58)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | $13.39B | 24.93 | 20.29% | 0.58% | 5.52% | 16.59% | |
70 Outperform | $234.13M | 10.55 | 20.94% | ― | -37.77% | 3.20% | |
67 Neutral | $87.36M | 29.84 | 2.95% | ― | 5.99% | -71.06% | |
64 Neutral | $7.32B | 138.48 | -9.49% | ― | 26.40% | -234.22% | |
63 Neutral | $2.22B | 32.28 | 7.50% | ― | 15.16% | -15.16% | |
58 Neutral | $21.03B | 10.58 | -16.29% | 2.47% | 4.38% | -23.63% | |
46 Neutral | $705.32M | ― | -7.73% | ― | -36.86% | -351.11% |
* Technology Sector Average
Performance Comparison
INTT
inTEST
7.06
-6.26
-47.00%
AEHR
Aehr Test Systems
7.88
-4.47
-36.19%
COHU
Cohu
14.71
-18.28
-55.41%
FORM
Formfactor
28.29
-17.98
-38.86%
MTSI
MACOM Technology Solutions Holdings
98.47
0.85
0.87%
TER
Teradyne
82.60
-29.90
-26.58%
inTEST Earnings Call Summary
Earnings Call Date: Mar 7, 2025 | % Change Since: -13.05% | Next Earnings Date: May 2, 2025
Earnings Call Sentiment Neutral
The earnings call portrays a company experiencing positive growth in revenue and order intake, driven largely by acquisitions and targeted market demand. However, significant challenges remain in the form of declining semi and industrial sales, gross margin pressures, and market uncertainties related to tariffs. The 2025 outlook is cautious, reflecting these uncertainties.Highlights
Record Fourth Quarter Revenue
Achieved fourth-quarter revenue of $36.6 million, marking a record for the company. This contributed to a full-year revenue of $130.7 million, which is the third consecutive year of record revenue.
Consistent Sales Growth
Full-year sales growth of 6%, driven by the $25 million contribution from the AlfaMation acquisition and strong demand in auto EV, defense, aero, and life sciences markets.
Strong Order Growth
Fourth quarter orders increased 11% year over year, with significant increases in orders for Auto EV and life sciences, demonstrating strong market demand.
Positive Cash Flow and Debt Management
Generated $2.6 million of operating cash in the quarter, with a free cash flow of $2.4 million. Ended the quarter with cash and equivalents of $19.8 million and repaid approximately $1.1 million of debt.
Lowlights
Decline in Semi and Industrial Sales
Experienced a 26% decline in semi sales. Industrial sales were down $3.7 million due to market softness and project timing.
Gross Margin Decline
Gross margin for the fourth quarter was 39.7%, a contraction of 660 basis points sequentially and 490 basis points year over year, impacted by a $1.6 million inventory step-up charge.
Challenges with Tariffs and Market Uncertainty
Facing uncertainty related to tariffs and market competitiveness, which could impact customer investment and supply chain costs.
Cautious 2025 Outlook
Provided a cautious revenue outlook for 2025, with expectations of $125 million to $135 million, reflecting market uncertainties and customer push-outs.
Company Guidance
During the inTEST Corporation's fourth-quarter 2024 earnings call, the company provided several key metrics and guidance for 2025. The fourth quarter marked a record revenue of $36.6 million, contributing to a full-year revenue of $130.7 million, driven by a 6% sales growth. This growth was fueled by a $25 million contribution from the AlfaMation acquisition and robust demand in the auto EV, defense, aerospace, and life sciences markets, despite a 26% decline in the semiconductor segment. The company reported an 11% year-over-year increase in fourth-quarter orders, with significant growth in life sciences and semi back end orders. The backlog at the end of 2024 was $39.5 million. For 2025, inTEST forecasts revenue between $125 million and $135 million, with a cautious outlook due to market uncertainties and tariffs impacting customer spending. The first-quarter revenue is expected to be between $27 million and $29 million, with a gross margin of approximately 41% and operating expenses between $13.6 million and $14 million. The company remains optimistic about gradual profitability improvements throughout the year, driven by its diversification into targeted markets and ongoing operational efficiencies.inTEST Corporate Events
Business Operations and Strategy
InTest Unveils VISION 2030 Strategy for Growth
Positive
Mar 26, 2025
On March 26, 2025, InTest Corporation announced its VISION 2030 strategy aimed at driving growth and profitability over the next five years. The strategy, which will be detailed in an investor briefing, builds on the company’s progress since 2021, including expanding its customer base and achieving record revenue. The company has set a revenue target of $235 million to $285 million by 2030, with expectations of 7% to 9% organic growth and additional growth through acquisitions. The strategy underscores InTest’s commitment to operational excellence and shareholder value creation.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.