TRIO-TECH INTERNATIONAL
TRT · Special Industry Machinery, NEC · 10.1M shares · +4%/yr ↑ shares · EDGAR filings ↗
Reference price $14.88 · est. market cap ~$150M — last insider sale, 2026-06-19 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
D50Micro-cap semiconductor-test/services company at breakeven-to-slight-loss, liquid but sub-scale.
Strengths
- Strong liquidity, low leverage — current ratio 5.03 (81st), quick ratio 4.67, D/E 0.02
Risks
- Breakeven/slight loss — ROE -0.1%, net income -103.9% (15th)
- Negative free cash flow — FCF -$0.6M
- Micro-cap scale and semiconductor-cycle dependence — qualitative (per 10-K)
Notable findings
- Cyber incidentRecent 8-K item 1.05 8-K ↗
- Customer concentration~100% of revenue from one customer/distributor — Revenue from the semiconductor industry, or our Semiconductor Back-end Solutions and Industrial Electronics segments, accounted for more than 99
- Cash burnNegative free cash flow (-0.6M)
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
- Insider sellingInsider selling — 30 open-market sale(s) by 3 insider(s) (cluster of 3 insiders, ~$3M, last 6mo) Form 4 ↗
- Notable holderHeld by 4 notable fund(s): RENAISSANCE TECHNOLOGIES LLC, CITADEL ADVISORS LLC, STATE STREET CORP +1 more (as of 2026-03-31)
- AccumulatingInstitutional holders rose 3→4 QoQ (2025-12-31→2026-03-31)
- New fund positionNotable fund(s) opened this quarter: STATE STREET CORP, CITADEL ADVISORS LLC
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Return on equity
-0.1%
Return on assets
-0.1%
ROIC
0.6%
Revenue growth (QoQ)
14.7%
Net-income growth
-103.9%
Debt / equity
0.0×
Net debt / EBITDA
-5.3×
Current ratio
5.0×
Free cash flow
-$596K
EBITDA
$3M
Tangible book value
$34M
Cash & investments
$17M
Cash runway
112q
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-23 | ADELMAN JASON T | Option exercise | 70K | $3.11 |
| 2026-06-19 | ADELMAN JASON T | Sell | 5.0K | $14.88 |
| 2026-06-18 | ADELMAN JASON T | Sell | 5.0K | $15.84 |
| 2026-05-28 | ADELMAN JASON T | Option exercise | 40K | $3.88 |
| 2026-05-28 | ADELMAN JASON T | Option exercise | 70K | $2.57 |
| 2026-05-26 | TING HOCK MING | Sell | 17K | $16.65 |
| 2026-05-19 | ADELMAN JASON T | Sell | 5.6K | $13.97 |
| 2026-05-19 | ADELMAN JASON T | Sell | 9.4K | $14.01 |
| 2026-05-18 | ADELMAN JASON T | Sell | 10K | $18.76 |
| 2026-05-18 | ADELMAN JASON T | Sell | 10K | $18.11 |
| 2026-05-18 | ADELMAN JASON T | Sell | 10K | $16.57 |
| 2026-05-18 | ADELMAN JASON T | Sell | 5.0K | $14.87 |
| 2026-05-18 | HOROWITZ RICHARD M | Sell | 68K | $18.10 |
| 2026-05-18 | ADELMAN JASON T | Option exercise | 40K | $2.25 |
| 2026-04-29 | LIM HWEE POH | Option exercise | 15K | $2.44 |
| 2026-04-29 | LIM HWEE POH | Option exercise | 19K | $2.51 |
| 2026-04-29 | LIM HWEE POH | Option exercise | 5.0K | $2.62 |
| 2026-04-29 | LIM HWEE POH | Option exercise | 10K | $3.09 |
| 2026-04-29 | LIM HWEE POH | Option exercise | 3.0K | $3.88 |
| 2026-04-29 | LIM HWEE POH | Option exercise | 8.0K | $2.59 |
| 2026-04-20 | TING HOCK MING | Sell | 2.0K | $7.13 |
| 2026-04-17 | TING HOCK MING | Sell | 3.8K | $7.08 |
| 2026-04-16 | TING HOCK MING | Sell | 4.0K | $7.04 |
| 2026-04-15 | TING HOCK MING | Sell | 3.0K | $6.99 |
| 2026-04-14 | TING HOCK MING | Sell | 13K | $6.93 |
| 2026-04-13 | TING HOCK MING | Sell | 6.0K | $6.73 |
| 2026-04-09 | TING HOCK MING | Sell | 4.0K | $6.78 |
| 2026-03-16 | ADELMAN JASON T | Sell | 5.0K | $5.61 |
| 2026-03-10 | ADELMAN JASON T | Sell | 5.0K | $5.82 |
| 2026-03-06 | ADELMAN JASON T | Sell | 7.5K | $5.53 |
| 2026-03-05 | ADELMAN JASON T | Sell | 4.5K | $5.55 |
| 2026-02-25 | Srinivasan Anitha | Option exercise | 7.0K | $3.09 |
| 2026-02-17 | HOROWITZ RICHARD M | Option exercise | 40K | $2.64 |
| 2026-01-27 | YONG SIEW WAI | Option exercise | 80K | $2.64 |
| 2026-01-16 | TING HOCK MING | Sell | 70 | $6.78 |
| 2026-01-15 | TING HOCK MING | Sell | 3.0K | $6.90 |
| 2026-01-12 | TING HOCK MING | Sell | 5.0K | $7.08 |
| 2026-01-07 | TING HOCK MING | Sell | 600 | $7.52 |
| 2026-01-07 | TING HOCK MING | Sell | 2.0K | $7.20 |
| 2026-01-07 | TING HOCK MING | Sell | 2.0K | $7.38 |
| 2026-01-07 | TING HOCK MING | Sell | 2.0K | $7.47 |
| 2026-01-07 | HOROWITZ RICHARD M | Sell | 7.5K | $7.50 |
| 2026-01-06 | TING HOCK MING | Sell | 3.0K | $6.63 |
| 2025-10-13 | Srinivasan Anitha | Option exercise | 4.5K | $4.88 |
| 2025-10-13 | Srinivasan Anitha | Option exercise | 3.5K | $5.01 |
| 2025-10-13 | ADELMAN JASON T | Option exercise | 20K | $5.27 |
| 2025-03-13 | HOROWITZ RICHARD M | Option exercise | 20K | $2.53 |
| 2025-02-27 | ADELMAN JASON T | Sell | 2.0K | $6.00 |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-05-14 | ResultsExhibits | filing ↗ |
| 2026-05-04 | Material agreementExhibits | filing ↗ |
| 2026-04-27 | Material agreementOtherExhibits | filing ↗ |
| 2026-03-20 | Cybersecurity | filing ↗ |
| 2026-02-13 | ResultsExhibits | filing ↗ |
| 2026-01-05 | 3.035.03Exhibits | filing ↗ |
| 2025-12-19 | 3.035.03Reg FDExhibits | filing ↗ |
| 2025-12-19 | OtherExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 10-Q | 2026-05-14 | 2026-03-31 | 0001437749-26-016914 ↗ |
| 8-K | 2026-05-14 | 2026-05-14 | 0001437749-26-016916 ↗ |
| 8-K | 2026-05-04 | 2026-04-30 | 0001437749-26-014620 ↗ |
| 8-K | 2026-04-27 | 2026-04-24 | 0001437749-26-013511 ↗ |
| 8-K | 2026-03-20 | 2026-03-18 | 0001437749-26-009193 ↗ |
| 10-Q | 2026-02-13 | 2025-12-31 | 0001437749-26-004010 ↗ |
| 8-K | 2026-02-13 | 2026-02-13 | 0001437749-26-004011 ↗ |
| 8-K | 2026-01-05 | 2025-12-31 | 0001437749-26-000178 ↗ |
| 8-K | 2025-12-19 | 2025-12-19 | 0001437749-25-038362 ↗ |
| 8-K/A | 2025-12-19 | 2025-12-19 | 0001437749-25-038376 ↗ |
| 8-K | 2025-12-11 | 2025-12-10 | 0001437749-25-037491 ↗ |
| 8-K | 2025-12-05 | 2025-12-03 | 0001437749-25-036941 ↗ |