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Optex Systems Holdings Inc (OPXS) stock

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NASDAQ: OPXS Nasdaq Electronic Equipment & Instruments Next results ~November 9, 2026

C+ Fundamentals grade

Optex Systems Holdings Inc is a US-listed company in the electronic equipment & instruments industry. Its financial year ends in September.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$9.3

Cash-flow model

Base case. Range ~$7.2–$12 across our lower- and higher-growth cases (2.7%–12.7% a year).

Price vs value

Modestly undervalued

The price is inside our value range, 1% below our base value.

Price used: $9.25, November 3, 2026

Optex Systems Holdings Inc valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 2 selling0 purchases and 8 sales by directors and officers, last 12 monthsInsider trades
  • Funds20 adding, 18 cuttingOf 6 active managers that changed their stake, 3 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Optex Systems files

Where Optex Systems stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $40m, up 0.8% on a year earlier, slower than the 10.0% growth a quarter earlier. That puts it 33 of 41 for growth among the electronic equipment & instruments companies we cover. Free-cash-flow margin fell to 3.7% from 13.8% a year earlier. Operating margin narrowed to 13.2% from 16.1%. Against its peers on growth, profitability, cash generation and balance sheet, it grades C+. It passes 2 of our 2 financial-health checks. Our cash-flow model value is $9.02 a share, against a share price of $9.30.

Source: 10-Q filed August 11, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 9, 2026 (estimated)

Optex Systems Holdings Inc's trailing-twelve-month revenue grew 0.8% year on year, with a free-cash-flow margin of 3.7%. Where it stands out: days sales outstanding of 39 days ranks 4 of 52 electronic equipment & instruments companies we cover. Where it lags: change in growth rate of -9.2pp ranks 48 of 53 electronic equipment & instruments companies we cover.

Our discounted-cash-flow model values the business at ~$9.3 per share in the base case (~$7.2–$12 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow fell 73.4% while net income fell 24.3%: a 49pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Net cash. Cash exceeds long-term debt by $0.0bn.

Things to watch

  • Results due soon. Results are expected around 9 November; the share price can move sharply on the day.
  • Growth slowing. The growth rate is 9.2 points lower than a quarter earlier.
  • Volatile shares. Over the past year the shares showed annualised volatility of 58% and a beta of 1.3 against the S&P 500.
  • Weak cash conversion. Free cash flow was 37% of net income over the last 12 months.
  • Below peers: revenue growth. Revenue growth of 0.8% ranks 43 of 53 electronic equipment & instruments companies we cover (median 9.8%).
  • Estimates being cut. Analysts' consensus for next year's earnings per share has fallen 8.9% over 90 days.

Latest results: FY2026 Q3

Filed August 11, 2026
Earnings per share
$0.18 against an average estimate of $0.23: missed by 21.7%
Revenue
$10m, down 12.4% on a year earlier
Share reaction
-1.2% in the first session after the results on August 11, 2026, against -0.1% for the S&P 500

Optex Systems' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-0.9%
  • 1 week-1.8%
  • 1 month-11.5%
  • This year-34.2%
  • 1 year-45.5%
  • 5 years+369.5%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$39.8M
Operating margin
13.2%
Net margin
9.8%
EPS (TTM, diluted)
$0.56

Growth

Revenue growth
+0.8%
Change in growth rate
−9.2 pts
Share count change
+0.5%

Cash

Free cash flow (TTM)
$1.5M
FCF margin
3.7%
Stock pay % of revenue
2.2%

Earnings

Last results
August 11, 2026
Next results (est.)
November 9, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results
  2. Agreement

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Optex Systems Holdings Inc valuation models and calculator

What the price is pricing in

The share price implies about 8.2% a year of cash-flow growth for five years.That is slower than the 16.9% a year revenue growth Optex Systems has delivered.

Read with care: free cash flow has swung sharply in the past year (often a one-off tax, legal or working-capital item), so the cash-flow base behind this reading may be unusually low or high.

  • Priced in8.2%
  • Last 12 months0.8%
  • 3 years a year17.8%
  • 5 years a year16.9%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($9.25, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Hold12-month view
12-month price target
~$9.3
Price used
$9.25close November 3, 2026
Implied change
▲ +1%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of Optex Systems Holdings Inc's free cash flow after stock-based pay with after-tax interest added back ($2.5M, FY2026 Q3 TTM), growing 11.3% and 8% in the next two years (forecasts, guidance and its record), then back to 7.7% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$7.2–~$12 ; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Optex Systems Holdings Inc's free cash flow after stock-based pay ( $2.5M, FY2026 Q3 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Optex Systems Holdings Inc as an operating company, with every model that fits that kind of business. Cost of equity 9.9%: the 10-year Treasury yield (4.9%) plus a beta of 1.1 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$9.3 ~$7.2–$12 Primary model, counts double
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. ~$12 ~$9.9–$19 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$7.4 ~$5.6–$9.9 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$7.9 ~$6.9–$9.2 Included
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$9.2 ~$7.4–$12 4 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Optex Systems Holdings Inc with Electronic Equipment & Instruments in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −20%
  • Revenue growth 5 points higher ▲ +26%
  • Free-cash-flow margin 1 point lower ▼ −22%
  • Last year's free-cash-flow margin change, if it persists ▼ −69%
  • Discount rate 1 point higher ▼ −11%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $6$8$10$13$18$23
8.5% $5$6$8$10$13$17
10% $4$5$6$8$10$13

Valuation multiples over time Market data may be delayed

At fiscal year end 2016201720182019202020212022202320242025Now
Share price$0.71$0.93$1.71$1.56$1.96$1.98$2.54$4.16$7.51$13.08$9.33
Market value$5m$7m$15m$13m$17m$16m$21m$28m$51m$91m$65m
+ Net debt (− = net cash)−$2m−$1m−$833000−$818000−$4m−$4m−$934000−$1m−$9000−$6m−$6m
Enterprise value$3m$6m$14m$12m$13m$13m$20m$26m$51m$84m$59m
Multiples
Price / sales 0.3x0.4x0.7x0.5x0.7x0.9x0.9x1.1x1.5x2.2x1.6x
Price / earnings ——10.8x2.3x9.2x7.7x16.3x12.2x13.6x17.6x16.7x
Price / free cash flow ——17.2xn/m4.5x79.6x11.7x—46.7x14.1x44.5x
EV / EBITDA —11.1x7.8x3.5x4.0x—10.2x8.4x9.7x11.0x10.3x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

51 /100

Moderate moat

How hard Optex Systems's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 20 / 20

    Net income has been a median 11.9% of total assets over 10 years.

  • Pricing power 6 / 20

    Gross margin has been a median 23.9%, moving by 4.9 percentage points (standard deviation) across 10 years.

  • Durability 2 / 20

    Operating margin has been a median 9.9%; its worst year was -3.8%.

  • Cash conversion 8 / 20

    Free cash flow was positive in 6 of 10 years, at a median 4.1% of revenue.

  • Discipline 20 / 20

    The diluted share count fell 17.5% over five years; stock-based pay has been a median 0.8% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (56 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $0.78 — $43m —
Next $0.82 +5% $47m +10%

Next year's EPS estimate has moved −8.9% in 90 days, across 1 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +1.3% on 90 days ago. In the last 30 days, 1 analyst raised Optex Systems Holdings Inc's forecast and 0 cut it.

Consensus EPS forecast Optex Systems Holdings Inc, last 90 days
$0.75 $0.80 $0.85 $0.90 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $0.77 Current fiscal year, 60 days ago: $0.77 Current fiscal year, 30 days ago: $0.77 Current fiscal year, 7 days ago: $0.77 Current fiscal year, Now: $0.78 $0.78 Next fiscal year, 90 days ago: $0.90 Next fiscal year, 60 days ago: $0.90 Next fiscal year, 30 days ago: $0.90 Next fiscal year, 7 days ago: $0.90 Next fiscal year, Now: $0.82 $0.82

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $0.77$0.90
60 days ago $0.77$0.90
30 days ago $0.77$0.90
7 days ago $0.77$0.90
Now $0.78$0.82

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $0.23 $0.18 −21.7%

Adjusted EPS as companies report it, against the average analyst estimate.

How our valuation uses these forecasts

Our cash-flow model grows Optex Systems Holdings Inc's revenue by +11.3% next year and +8.0% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+15.6%, weight 45%) and the company's own record (+7.7%, weight 55%) . How the weights are set.

Analyst recommendations

1 analysts, Oct 2026
Buy1100%
Hold00%
Sell00%

Monthly trend

  1. Oct 202611

Counts of recommendations published by analysts covering Optex Systems Holdings Inc, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
0.6%
of tradable shares
Days to cover
1.27
at average volume
Short interest, 1 month
+1%
to October 15, 2026
Held by institutions
52%
of shares
Held by insiders
20.9%
of shares
Employees
140
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months −45.9%

$17.23 on October 31, 2025 to $9.33

ThenNowEffect
Revenue (last 12 months) $39m $40m +0.8%
Net margin 13.0% 9.8% −24.9%
P/E multiple 23.2x 16.7x −28.1%
Share count 7m 7m −0.5%

Biggest factor: p/e multiple.

Last 3 years +138.6%

$3.91 on November 3, 2023 to $9.33

ThenNowEffect
Revenue (last 12 months) $24m $40m +63.7%
Net margin 7.4% 9.8% +31.3%
P/E multiple 15.1x 16.7x +10.3%
Share count 7m 7m +0.6%

Biggest factor: revenue.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
OPXS+5%+58%+122%+5%+107%−34%
Industry peers (median)−3%−38%+13%−1%−7%−15%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
OPXS33%42%67%58%50%55%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
OPXS−35%−21%−16%−31%−29%−43%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 3, 2015: 83% from November 5, 2015 to December 29, 2016. Getting back needed a 493% gain, reached on January 20, 2023, 2213 days after the low.

Price behaviour

52-week range
$9.11 – $17.02
From 52-week high
−45.2%
vs 50-day average
−7.7%
vs 200-day average
−21.5%
Volatility (1 year)
58%
Beta vs S&P 500
1.33

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
2 up, 3 down
typical move ±7.9%
After a week
1 up, 4 down
typical move ±8.8%
After a month
3 up, 2 down
typical move ±18.6%
Results releasedNext dayS&P 500 next day5 days21 days
August 11, 2026 −1.2% −0.1% −1.2% −8.1%
May 12, 2026 +7.7% +0.4% −1.5% +27.4%
February 11, 2026 −5.4% −1.6% −18.5% −15.2%
December 17, 2025 −5.0% −0.4% −2.4% +3.5%
May 13, 2025 +20.0% +0.8% +20.4% +38.7%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Optex Systems Holdings Inc in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Optex Systems Holdings Inc
$25M $30M $35M $40M $45M FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue (TTM), FY23 Q4: $25.7M Revenue (TTM), FY24 Q1: $28.6M Revenue (TTM), FY24 Q2: $30.7M Revenue (TTM), FY24 Q3: $32.6M Revenue (TTM), FY24 Q4: $34M Revenue (TTM), FY25 Q1: $35.2M Revenue (TTM), FY25 Q2: $37.4M Revenue (TTM), FY25 Q3: $39.5M Revenue (TTM), FY25 Q4: $41.3M Revenue (TTM), FY26 Q1: $42.3M Revenue (TTM), FY26 Q2: $41.2M Revenue (TTM), FY26 Q3: $39.8M $39.8M

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY23 Q4 $25.7M
FY24 Q1 $28.6M
FY24 Q2 $30.7M
FY24 Q3 $32.6M
FY24 Q4 $34M
FY25 Q1 $35.2M
FY25 Q2 $37.4M
FY25 Q3 $39.5M
FY25 Q4 $41.3M
FY26 Q1 $42.3M
FY26 Q2 $41.2M
FY26 Q3 $39.8M
Revenue growth, TTM YoY Optex Systems Holdings Inc
0% 10% 20% 30% 40% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue growth, TTM YoY, FY23 Q4: 14.6% Revenue growth, TTM YoY, FY24 Q1: 29.4% Revenue growth, TTM YoY, FY24 Q2: 31.8% Revenue growth, TTM YoY, FY24 Q3: 34.2% Revenue growth, TTM YoY, FY24 Q4: 32.5% Revenue growth, TTM YoY, FY25 Q1: 23.2% Revenue growth, TTM YoY, FY25 Q2: 21.8% Revenue growth, TTM YoY, FY25 Q3: 21.0% Revenue growth, TTM YoY, FY25 Q4: 21.6% Revenue growth, TTM YoY, FY26 Q1: 20.0% Revenue growth, TTM YoY, FY26 Q2: 10.0% Revenue growth, TTM YoY, FY26 Q3: 0.8% 0.8%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q4 14.6%
FY24 Q1 29.4%
FY24 Q2 31.8%
FY24 Q3 34.2%
FY24 Q4 32.5%
FY25 Q1 23.2%
FY25 Q2 21.8%
FY25 Q3 21.0%
FY25 Q4 21.6%
FY26 Q1 20.0%
FY26 Q2 10.0%
FY26 Q3 0.8%
Operating margin (TTM) Optex Systems Holdings Inc
10% 12% 14% 16% 18% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Operating margin (TTM), FY23 Q4: 10.9% Operating margin (TTM), FY24 Q1: 12.7% Operating margin (TTM), FY24 Q2: 14.2% Operating margin (TTM), FY24 Q3: 16.0% Operating margin (TTM), FY24 Q4: 14.2% Operating margin (TTM), FY25 Q1: 14.7% Operating margin (TTM), FY25 Q2: 16.2% Operating margin (TTM), FY25 Q3: 16.1% Operating margin (TTM), FY25 Q4: 17.3% Operating margin (TTM), FY26 Q1: 15.1% Operating margin (TTM), FY26 Q2: 14.1% Operating margin (TTM), FY26 Q3: 13.2% 13.2%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q4 10.9%
FY24 Q1 12.7%
FY24 Q2 14.2%
FY24 Q3 16.0%
FY24 Q4 14.2%
FY25 Q1 14.7%
FY25 Q2 16.2%
FY25 Q3 16.1%
FY25 Q4 17.3%
FY26 Q1 15.1%
FY26 Q2 14.1%
FY26 Q3 13.2%
FCF margin (TTM) Optex Systems Holdings Inc
-5% 0% 5% 10% 15% 20% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 FCF margin (TTM), FY23 Q4: -2.6% FCF margin (TTM), FY24 Q1: 4.1% FCF margin (TTM), FY24 Q2: 4.4% FCF margin (TTM), FY24 Q3: 5.1% FCF margin (TTM), FY24 Q4: 3.2% FCF margin (TTM), FY25 Q1: 3.9% FCF margin (TTM), FY25 Q2: 10.2% FCF margin (TTM), FY25 Q3: 13.8% FCF margin (TTM), FY25 Q4: 15.6% FCF margin (TTM), FY26 Q1: 8.1% FCF margin (TTM), FY26 Q2: 1.8% FCF margin (TTM), FY26 Q3: 3.7% 3.7%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q4 -2.6%
FY24 Q1 4.1%
FY24 Q2 4.4%
FY24 Q3 5.1%
FY24 Q4 3.2%
FY25 Q1 3.9%
FY25 Q2 10.2%
FY25 Q3 13.8%
FY25 Q4 15.6%
FY26 Q1 8.1%
FY26 Q2 1.8%
FY26 Q3 3.7%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-K/A, 10-Q, 10-Q/A. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar Optex Systems took in during FY2025, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.

  1. Revenue $41.3M
  2. Cost of revenue $29.3M · 70.8%
  3. Gross profit $12.1M · 29.2%
  4. Selling, general and admin $4.9M · 11.9%
  5. Operating income $7.1M · 17.3%
  6. Income tax $1.2M · 2.9%
  7. Interest and other $781,000 · 1.9%
  8. Net income $5.1M · 12.5%

Shares of revenue. Source: Optex Systems's 10-K for FY2025, as filed with the SEC. "Other" lines are what the reported lines leave unexplained.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2010 Oct 2010 2011 Oct 2011 2012 Sept 2012 2013 Sept 2013 2014 Sept 2014 2015 Sept 2015 2016 Oct 2016 2017 Oct 2017 2018 Sept 2018 2019 Sept 2019 2020 Sept 2020 2021 Oct 2021 2022 Oct 2022 2023 Oct 2023 2024 Sept 2024 2025 Sept 2025 LTM Jun 2026
Income
Revenue 23 16 14 17 10 13 17 19 21 25 26 18 22 26 34 41 40
Gross profit 1 2 2 3 1 1 3 3 5 6 6 3 5 7 10 12 12
EBITDA −9 0 −0 0 −1 −1 −1 1 2 4 3 −0 2 3 5 8 6
Operating income −10 0 −0 0 −1 −1 −1 0 1 3 3 −0 2 3 5 7 5
Net income −10 1 −0 0 −2 0 −0 −0 1 6 2 2 1 2 4 5 4
Diluted EPS −$0.01 $0.00 −$0.22 $0.02 −$1.50 −$0.76 −$0.18 −$0.06 $0.11 $0.45 $0.14 $0.18 $0.16 $0.34 $0.55 $0.74 $0.56
Growth (year on year)
Revenue — −29.1% −12.2% +19.8% −40.2% +27.4% +32.9% +7.3% +12.4% +17.6% +5.5% −29.6% +22.8% +14.6% +32.5% +21.6% +0.8%
EBITDA — — — — — — — — +235.1% +95.1% −11.5% −107.4% — +60.3% +69.5% +44.1% −17.4%
Operating income — — — — — — — — — +115.1% −9.8% −117.1% — +69.2% +73.0% +47.9% −17.1%
Net income — — −162.1% — — — −142.4% — — +306.6% −67.8% +16.8% −39.8% +76.4% +66.5% +36.6% −24.3%
Diluted EPS — — — — — — — — — +309.1% −68.9% +28.6% −11.1% +112.5% +61.8% +34.5% −24.7%
Margins
Gross margin 3.8% 15.3% 16.9% 18.8% 13.7% 10.7% 17.7% 18.4% 21.7% 25.5% 23.5% 13.8% 21.9% 25.8% 28.0% 29.2% 30.7%
EBITDA margin −38.1% 0.9% −0.9% 1.9% −8.8% −8.5% −3.3% 2.9% 8.7% 14.4% 12.1% −1.3% 8.7% 12.2% 15.6% 18.5% 14.3%
Operating margin −43.0% 0.5% −2.1% 1.5% −9.6% −11.1% −5.3% 1.1% 7.1% 13.0% 11.1% −2.7% 7.4% 10.9% 14.2% 17.3% 13.2%
Net margin −42.0% 3.6% −2.6% 0.8% −20.2% 3.8% −1.2% −1.6% 6.7% 23.1% 7.0% 11.7% 5.7% 8.8% 11.1% 12.5% 9.8%
Free-cash-flow margin −4.3% 6.7% 5.3% −9.7% 16.0% −25.3% −3.3% −0.7% 4.2% 0.1% 14.5% 1.1% 8.0% −2.6% 3.2% 15.6% 3.7%
Cash flow
Cash from operations −1 1 1 −2 2 −1 −1 0 1 0 4 0 2 −0 2 7 3
Capital spending 0 0 0 0 0 2 0 0 0 0 0 0 0 0 1 0 1
Free cash flow −1 1 1 −2 2 −3 −1 −0 1 0 4 0 2 −1 1 6 1
Stock-based pay 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1
Free cash flow after stock pay −1 1 1 −2 2 −3 −1 −0 1 −0 4 −0 2 −1 1 6 1
Balance sheet
Cash 1 2 2 1 2 1 3 2 1 1 5 4 1 1 1 6 6
Total debt 1 — 0 — — — 0 0 0 0 0 0 0 0 1 0 0
Net debt (negative = net cash) 0 −2 −2 −1 −2 −1 −2 −1 −1 −1 −4 −4 −1 −1 −0 −6 −6
Diluted shares — — 1,196m 8m 8m 8m 8m 8m 9m 8m 9m 8m 8m 7m 7m 7m 7m
Returned to shareholders
Dividends — — — — — — — 0 1 — — — — — — — —
Buybacks — — — — — — — — 1 — 0 1 5 — — — —
Total returned — — — — — — — 0 1 — 0 1 5 — — — —

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 2 checks passed · June 28, 2026
What it owns · $32m
Short-term assets $28mLonger-term assets $5m
What it owes, and who funded it · $32m
Short-term liabilities $4mLonger-term liabilities $1mShareholders' equity $28m
  • Short-term assets cover short-term liabilities $28m of assets due within a year against $4m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $28m short-term assets against $807,000 of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Optex Systems Holdings Inc's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Diluted share count
+0.5%
year over year
Days sales outstanding
39 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in electronic equipment & instruments
Last 12 months unless stated OPXS SNT KOPN REKR OPTX INVZ Median
Revenue, last 12 months $40m $36m $44m $50m $29m $55m $104m
Revenue growth, last 12 months 0.8% 1.7% −7.1% 9.8% 1.5% 127.0% 9.8%
Revenue growth, 3-year average 17.8% — −1.1% 21.2% — — 7.2%
Revenue growth, latest quarter −12.4% — 50.6% 2.5% 26.1% — 16.5%
Gross margin 30.7% 65.5% 17.7% 61.7% 19.6% 23.4% 38.5%
Operating margin 13.2% 8.3% −22.9% −39.4% −4.6% −123.0% −7.3%
Operating margin, 3-year average 15.1% — −56.0% −82.4% −3.4% — −5.1%
Net margin 9.8% 8.8% 18.3% −43.8% −8.3% −123.1% −5.3%
Cash from operations / revenue 6.4% 4.8% −30.1% −21.6% 2.4% −87.0% −1.6%
Free-cash-flow margin 3.7% 3.3% −42.2% −26.2% −1.4% −94.7% −2.5%
Free-cash-flow margin, 3-year average 7.5% — −37.9% −57.7% −2.3% — 3.7%
Stock pay / revenue 2.2% 1.7% 6.8% 3.9% — 29.0% 3.0%
Change in share count 0.5% 0.6% 20.0% 29.8% 1.9% 19.5% 1.9%

Median of all 53 companies we cover in electronic equipment & instruments. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

53 electronic equipment & instruments companies
Measure Company Peer median Rank
Revenue growth Growth 0.8% 9.8% 43 of 53
Change in growth rate Growth -9.2pp +2.3pp 48 of 53
Gross margin Profitability 30.7% 39.7% 34 of 48
Operating margin Profitability 13.2% -7.3% 12 of 53
Net margin Profitability 9.8% -5.3% 12 of 53
Free-cash-flow margin Cash generation 3.7% -2.1% 19 of 52
Stock pay as % of revenue Cash generation 2.2% 3.0% 19 of 49
Change in share count Balance sheet 0.5% 1.9% 15 of 46
Days sales outstanding Balance sheet 39 days 68 days 4 of 52

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to September 28, 2025
Segments
Line of business Revenue Share YoY
Optex Systems OPX Richardson Texas $23.8M 57.5% ▲ 30.8%
Applied Optics Center AOC Dallas $18.7M 45.3% ▲ 11.1%
All Other Segments -$1.2M -2.8% —

From Optex Systems Holdings Inc's 10-K filed December 17, 2025, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$39.1M
Institutions reporting
38
Shares held vs prior quarter
▲ 5.0%
Positions opened / closed
7 / 4

Top buyers and sellers, Q2 2026: 20 institutions bought and 18 sold ; the biggest buyer was Wasatch Advisors LP (+237K shares) and the biggest seller Topline Capital Management, LLC (−130K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Wasatch Advisors LP $8.9M 635K 22.8% ▲ 59.4%
Topline Capital Management, LLC $6.3M 449K 16.1% ▼ 22.4%
Punch & Associates Investment Management, Inc. $4.8M 340K 12.2% ▲ 5.0%
LPL Financial LLC $3.2M 225K 8.1% ▼ 12.1%
Vanguard Capital Management LLC $3.1M 219K 7.8% ▲ 10.0%
Archon Capital Management LLC $2.8M 196K 7.0% ▲ 0.3%
Meros Investment Management, LP $1.3M 95K 3.4% New
Geode Capital Management, LLC $933,736 67K 2.4% ▲ 6.0%
Mink Brook Asset Management LLC $873,845 62K 2.2% ▼ 3.9%
Marshall Wace, LLP $722,798 52K 1.8% ▼ 47.9%
O'Shaughnessy Asset Management, LLC $627,169 45K 1.6% ▼ 17.6%
Blackrock, Inc. $574,108 41K 1.5% ▲ 15.2%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Optex Systems Holdings Inc's complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $1.6M 8 trades by 2 insiders · 94% under pre-set plans
Net ▼ $1.6M net selling
Insider Date Trade Shares Price Value
George Chad Michael CEO and President March 11, 2026 Sell 7,035 $13.62 $95,817
Schoening Danny Robert Director January 8, 2026 Sell pre-set plan 2,815 $13.55 $38,143
Schoening Danny Robert Director January 8, 2026 Sell pre-set plan 26,109 $14.11 $368,398
Schoening Danny Robert Director January 7, 2026 Sell pre-set plan 27,946 $13.44 $375,594
Schoening Danny Robert Director January 6, 2026 Sell pre-set plan 14,066 $13.02 $183,139
Schoening Danny Robert Director January 5, 2026 Sell pre-set plan 5,495 $13.08 $71,875
Schoening Danny Robert Director January 2, 2026 Sell pre-set plan 4,451 $13.09 $58,264
Schoening Danny Robert Director January 2, 2026 Sell pre-set plan 29,696 $13.99 $415,447

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around November 9, 2026 estimated from the company's past filing pattern, not announced

  • August 11, 2026
  • May 12, 2026
  • February 11, 2026
  • December 17, 2025
  • May 13, 2025

Recent SEC filings

Data status

When each part of this page on Optex Systems Holdings Inc was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Optex Systems Holdings Inc in brief

What does Optex Systems Holdings Inc do?
Optex Systems Holdings Inc is a US-listed company in the electronic equipment & instruments industry. Its financial year ends in September.
What is Optex Systems Holdings Inc's stock ticker?
Optex Systems Holdings Inc trades under the ticker OPXS on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Optex Systems Holdings Inc's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Optex Systems Holdings Inc reported revenue of $39.8M, 0.8% higher than a year earlier, according to its SEC filings.
What is Optex Systems Holdings Inc's free cash flow?
Optex Systems Holdings Inc's free-cash-flow margin is 3.7% of revenue over the trailing twelve months, ranking 19 of the 52 electronic equipment & instruments companies we cover.
What is Optex Systems Holdings Inc's fair value (intrinsic value) per share?
Our discounted-cash-flow model of Optex Systems Holdings Inc's free cash flow after stock-based pay gives ~$9.3 per share in the base case, and ~$7.2–$12 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Optex Systems Holdings Inc's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Wasatch Advisors LP, Topline Capital Management, LLC and Punch & Associates Investment Management, Inc. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Optex Systems Holdings Inc's market cap?
On November 2, 2026, Optex Systems Holdings Inc's market capitalisation was about $64.8M, with a price-to-earnings ratio of 16.7 and net debt of -$6.2M. Market figures come from third-party market data and may be delayed.
Who are Optex Systems Holdings Inc's competitors?
In our Electronic Equipment & Instruments peer group, the companies closest to Optex Systems Holdings Inc are Senstar Technologies Corp, Kopin Corp, Rekor Systems, Inc., Syntec Optics Holdings, Inc. and Innoviz Technologies Ltd. The side-by-side comparison below sets their revenue, margins and growth against Optex Systems Holdings Inc's.
Are insiders buying or selling Optex Systems Holdings Inc stock?
Over the last 12 months, Optex Systems Holdings Inc's directors and officers reported 0 open-market purchases and 8 sales on Form 4. The insider trading page charts every trade.
When is Optex Systems Holdings Inc's next earnings date?
Around November 9, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Optex Systems Holdings Inc announces its own schedule.