CTS CORP
CTS · Printed Circuit Boards · 28.6M shares · -1%/yr ↓ buyback · EDGAR filings ↗
Net buyback after stock comp: $37M (gross $41M, SBC $4M)
Reference price $66.67 · est. market cap ~$1.9B — last insider sale, 2026-06-03 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
B76Diversified sensors/components maker posting sector-leading margins and good returns as it pivots toward defense, medical, and industrial end-markets.
Strengths
- Sector-leading margins — gross margin 38.4% (100th), operating margin 15.3% (100th), net margin 12.1% (100th)
- Strong returns and cash conversion — ROA 8.5% (88th), OCF margin 18.9% (100th)
- Solid balance sheet and growth — current ratio 2.30 (100th), quick ratio 1.82, revenue +5.2%, net income +17.7% (58th)
Risks
- Customer concentration — risk factors: a substantial portion of revenue comes from a small number of customers; order delays/cancellations would be material
- End-market cyclicality — auto/industrial demand sensitivity as it diversifies into defense and medical
- Moderate ROE — 11.8% (50th)
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- Customer concentration~18% of revenue from one customer/distributor — CTS CORPORATION 26 Table of Contents Selling, general and administrative ("SG&A") expenses were $98,720, or 18
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
- Notable holderHeld by 5 notable fund(s): STATE STREET CORP, RENAISSANCE TECHNOLOGIES LLC, GOLDMAN SACHS GROUP INC +2 more (as of 2026-03-31)
- Insider sellingInsider selling — 4 open-market sale(s) by 2 insider(s) (cluster of 2 insiders, ~$10M, last 6mo) Form 4 ↗
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
38.4%
Operating margin
15.3%
Net margin
12.1%
Return on equity
11.8%
Return on assets
8.5%
Revenue growth (QoQ)
1.4%
Net-income growth
17.7%
Current ratio
2.3×
EBITDA
$117M
Tangible book value
$189M
Cash & investments
$82M
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-03 | O'SULLIVAN KIERAN M | Sell | 23K | $66.67 |
| 2026-06-02 | O'SULLIVAN KIERAN M | Sell | 60K | $66.26 |
| 2026-06-01 | Hawkins John M | Grant | 1.3K | — |
| 2026-06-01 | Hawkins John M | Grant | 757 | — |
| 2026-06-01 | O'SULLIVAN KIERAN M | Sell | 47K | $63.31 |
| 2026-05-08 | Trivedi Pratik | Tax withheld | 314 | $61.75 |
| 2026-05-08 | Trivedi Pratik | Tax withheld | 1.7K | $61.75 |
| 2026-02-24 | Agrawal Ashish | Grant | 4.3K | $52.94 |
| 2026-02-24 | Agrawal Ashish | Tax withheld | 2.0K | $52.94 |
| 2026-02-24 | O'SULLIVAN KIERAN M | Grant | 17K | $52.94 |
| 2026-02-24 | O'SULLIVAN KIERAN M | Tax withheld | 7.5K | $52.94 |
| 2026-02-12 | O'SULLIVAN KIERAN M | Grant | 25K | $56.92 |
| 2026-02-11 | Pacioni Mark R. | Grant | 3.7K | $57.15 |
| 2026-02-11 | Trivedi Pratik | Grant | 3.5K | $57.15 |
| 2026-02-11 | Agrawal Ashish | Grant | 6.0K | $57.15 |
| 2026-02-09 | O'SULLIVAN KIERAN M | Tax withheld | 3.2K | $55.58 |
| 2026-02-09 | O'SULLIVAN KIERAN M | Tax withheld | 3.7K | $55.58 |
| 2026-02-09 | Agrawal Ashish | Tax withheld | 827 | $55.58 |
| 2026-02-09 | Agrawal Ashish | Tax withheld | 866 | $55.58 |
| 2026-02-09 | Agrawal Ashish | Tax withheld | 2.6K | $55.58 |
| 2026-02-06 | O'SULLIVAN KIERAN M | Tax withheld | 3.7K | $55.78 |
| 2026-02-05 | Trivedi Pratik | Tax withheld | 125 | $54.19 |
| 2026-02-05 | Agrawal Ashish | Tax withheld | 931 | $54.19 |
| 2026-02-05 | Trivedi Pratik | Tax withheld | 289 | $54.19 |
| 2026-02-02 | Agrawal Ashish | Sell | 25K | $53.00 |
| 2025-11-06 | Dodrill Amy M. | Grant | 3.5K | — |
| 2025-11-06 | Zulueta Alfonso G | Grant | 3.5K | — |
| 2025-11-06 | Stone Randy Lee | Grant | 3.5K | — |
| 2025-11-06 | PROFUSEK ROBERT | Grant | 3.5K | — |
| 2025-11-06 | JOHNSON WILLIAM S | Grant | 3.5K | — |
| 2025-11-06 | Costello Donna | Grant | 3.5K | — |
| 2025-07-29 | Pacioni Mark R. | Grant | 4.6K | — |
| 2025-05-08 | Trivedi Pratik | Tax withheld | 206 | $40.02 |
| 2025-02-10 | Baumeister Martin | Tax withheld | 440 | $46.55 |
| 2025-02-10 | O'SULLIVAN KIERAN M | Tax withheld | 3.4K | $46.55 |
| 2025-02-10 | Agrawal Ashish | Tax withheld | 1.1K | $46.55 |
| 2025-02-10 | D'Angelo Scott | Tax withheld | 704 | $46.55 |
| 2025-02-09 | Agrawal Ashish | Tax withheld | 827 | $46.47 |
| 2025-02-09 | Baumeister Martin | Tax withheld | 338 | $46.47 |
| 2025-02-09 | D'Angelo Scott | Tax withheld | 614 | $46.47 |
| 2025-02-09 | O'SULLIVAN KIERAN M | Tax withheld | 3.2K | $46.47 |
| 2025-02-08 | O'SULLIVAN KIERAN M | Tax withheld | 3.7K | $46.47 |
| 2025-02-07 | Agrawal Ashish | Tax withheld | 866 | $46.47 |
| 2025-02-07 | D'Angelo Scott | Tax withheld | 671 | $46.47 |
| 2025-02-07 | Baumeister Martin | Tax withheld | 362 | $46.47 |
| 2025-02-06 | O'SULLIVAN KIERAN M | Grant | 45K | — |
| 2025-02-06 | O'SULLIVAN KIERAN M | Tax withheld | 20K | $47.58 |
| 2025-02-06 | O'SULLIVAN KIERAN M | Grant | 24K | — |
| 2025-02-05 | D'Angelo Scott | Grant | 9.3K | — |
| 2025-02-05 | D'Angelo Scott | Tax withheld | 4.3K | $47.96 |
| 2025-02-05 | D'Angelo Scott | Grant | 4.9K | — |
| 2025-02-05 | Baumeister Martin | Grant | 5.8K | — |
| 2025-02-05 | Baumeister Martin | Tax withheld | 2.7K | $47.96 |
| 2025-02-05 | Baumeister Martin | Grant | 2.1K | — |
| 2025-02-05 | Agrawal Ashish | Grant | 14K | — |
| 2025-02-05 | Trivedi Pratik | Grant | 2.5K | — |
| 2025-02-05 | Agrawal Ashish | Tax withheld | 6.5K | $47.96 |
| 2025-02-05 | Agrawal Ashish | Grant | 5.6K | — |
All non-derivative Form 4 activity (SEC), newest first.
Supply chain
Customers (7)
- Toyota Motor Corporation 11% of rev
- Cummins, Inc. 8% of rev
- Avnet, Inc.
- Digi-Key Electronics
- Master Electronics
- Future Electronics
- TTI, Inc.
Suppliers (0)
Named in the 10-K; linked when we track them.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-25 | Exec/director change | filing ↗ |
| 2026-05-19 | Shareholder vote | filing ↗ |
| 2026-04-29 | Reg FDExhibits | filing ↗ |
| 2026-04-29 | ResultsReg FDExhibits | filing ↗ |
| 2026-02-10 | Reg FDExhibits | filing ↗ |
| 2026-02-10 | ResultsReg FDExhibits | filing ↗ |
| 2025-11-26 | Exec/director change | filing ↗ |
| 2025-11-24 | Material agreement1.02Debt obligationExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-25 | 2026-06-25 | 0001193125-26-282712 ↗ |
| 8-K | 2026-05-19 | 2026-05-14 | 0001193125-26-230702 ↗ |
| 10-Q | 2026-04-29 | 2026-03-31 | 0001193125-26-190431 ↗ |
| 8-K | 2026-04-29 | 2026-04-29 | 0001193125-26-189074 ↗ |
| 8-K | 2026-04-29 | 2026-04-29 | 0001193125-26-189091 ↗ |
| 10-K | 2026-02-24 | 2025-12-31 | 0001193125-26-067039 ↗ |
| 8-K | 2026-02-10 | 2026-02-10 | 0001193125-26-043739 ↗ |
| 8-K | 2026-02-10 | 2026-02-10 | 0001193125-26-043742 ↗ |
| 8-K | 2025-11-26 | 2025-11-21 | 0001193125-25-300535 ↗ |
| 8-K | 2025-11-24 | 2025-11-24 | 0001193125-25-293643 ↗ |
| 8-K | 2025-11-06 | 2025-11-05 | 0001193125-25-268239 ↗ |
| 8-K | 2025-10-28 | 2025-10-28 | 0001193125-25-252840 ↗ |