Deswell Industries vs Nortech Systems
Nortech Systems is the larger business, with $118m of revenue in fiscal 2025 against $61.3m for Deswell Industries (1.9 times as much). Nortech Systems grew faster (-7.6% against -9.3%). Deswell Industries kept more of each dollar of sales as profit: a net margin of 17.3% against -0.2%. Deswell Industries carries less debt relative to equity (0.0% against 53.9%).
| Latest fiscal year | Deswell IndustriesDSWL, 2026 | Nortech SystemsNSYS, 2025 |
|---|---|---|
| Revenue | $61.3m | $118m |
| Revenue growth | -9.3% | -7.6% |
| Net income | $10.6m | −$252,000 |
| Operating margin | 3.2% | 0.8% |
| Net margin | 17.3% | -0.2% |
| Return on equity | 10.0% | -0.7% |
| Free cash flow | $4.7m | $2.1m |
| Cash | $23.1m | $1.7m |
| Total debt | $0 | $18.6m |
| Debt to equity | 0.0% | 53.9% |
| Dividend per share | — | — |
| Dividend yield | 7.0% | — |
| Share buybacks | — | — |
| Employees | — | — |
| Market value | $45.7m | $32.2m |
| Price vs our value range | Below our value range | — |
| Moat score | 20 (Weak) | 23 (Weak) |
| Insider trades, 12 months | 0 buys, 0 sales | 0 buys, 0 sales |