SYPRIS SOLUTIONS INC
SYPR · Industrial Instruments For Measurement, Display, and Control · 23.0M shares · +1%/yr ↑ dilution · EDGAR filings ↗
Net buyback after stock comp: -$442K (gross $426K, SBC $868K)
Reference price $1.97 · est. market cap ~$45M — last insider sale, 2025-06-11 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
D47Sub-scale industrial with a widening loss, negative free cash flow, weak liquidity, and heavy customer concentration.
Strengths
- Mostly sole-source, multi-year contracts in defense/aerospace electronics with strengthening DoW funding
- Diversification into automotive/off-highway is reducing reliance on the cyclical Class 8 truck market
Risks
- Net loss widened to $6.3M; ROA -5.9% and ROE -35.6% (both 29th pct), with FCF -$6.5M (8th pct)
- Quick ratio 0.44 (12th pct) signals strained liquidity; top-5 customers are 63% of revenue
- Class 8 production fell 24% in 2025 and inflation/tariff pressures persist into 2026
Notable findings
- Cash burnNegative free cash flow (-6.5M)
- Customer concentration~63% of revenue from one customer/distributor — Our five largest customers in 2025 were Northrop Grumman, Detroit Diesel, SubCom, ADI, and Sistemas, which in the aggregate accounted for 63% of net revenue
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Return on equity
-35.6%
Return on assets
-5.9%
Revenue growth (QoQ)
0.6%
Current ratio
1.3×
Free cash flow
-$6M
EBITDA
-$4M
Tangible book value
$18M
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-04-01 | Eckert Rebecca R | Tax withheld | 3.5K | $2.93 |
| 2025-06-11 | Petrie Curtis S | Sell | 34K | $1.97 |
| 2025-04-01 | ALLEN ANTHONY C | Tax withheld | 9.0K | $1.65 |
| 2025-04-01 | DAVIS RICHARD L | Tax withheld | 9.0K | $1.65 |
| 2025-04-01 | Petrie Curtis S | Tax withheld | 5.4K | $1.65 |
| 2025-04-01 | Eckert Rebecca R | Tax withheld | 3.6K | $1.65 |
All non-derivative Form 4 activity (SEC), newest first.
Supply chain
Customers (16)
- Northrop Grumman Corporation
- Detroit Diesel
- SubCom
- Analog Devices, Inc.
- Sistemas
- General Motors Company
- Freightliner LLC
- Mack Truck
- Navistar International Corporation
- PACCAR, Inc.
- Volvo Truck Corporation
- Bombardier Recreational Products
- Lockheed Martin
- L3Harris Technologies
- Collins Aerospace Systems (RTX Corporation)
- BAE Systems
Suppliers (0)
Named in the 10-K; linked when we track them.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-22 | Shareholder vote | filing ↗ |
| 2026-05-19 | ResultsReg FDExhibits | filing ↗ |
| 2026-03-26 | ResultsReg FDExhibits | filing ↗ |
| 2026-01-14 | Material agreementDebt obligationExhibits | filing ↗ |
| 2025-11-12 | ResultsReg FDExhibits | filing ↗ |
| 2025-08-12 | ResultsReg FDExhibits | filing ↗ |
| 2025-05-22 | Shareholder vote | filing ↗ |
| 2025-05-14 | ResultsReg FDExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-22 | 2026-06-16 | 0001437749-26-021275 ↗ |
| 8-K | 2026-05-19 | 2026-05-19 | 0001437749-26-017690 ↗ |
| 10-Q | 2026-05-19 | 2026-04-05 | 0001437749-26-017727 ↗ |
| 10-K | 2026-03-26 | 2025-12-31 | 0001437749-26-009882 ↗ |
| 8-K | 2026-03-26 | 2026-03-26 | 0001437749-26-009845 ↗ |
| 8-K | 2026-01-14 | 2026-01-12 | 0001437749-26-001220 ↗ |
| 8-K | 2025-11-12 | 2025-11-12 | 0001437749-25-034239 ↗ |
| 10-Q | 2025-11-12 | 2025-09-28 | 0001437749-25-034293 ↗ |
| 8-K | 2025-08-12 | 2025-08-12 | 0001437749-25-026039 ↗ |
| 10-Q | 2025-08-12 | 2025-06-29 | 0001437749-25-026096 ↗ |
| 8-K | 2025-05-22 | 2025-05-21 | 0001437749-25-018074 ↗ |
| 10-Q | 2025-05-14 | 2025-03-30 | 0001437749-25-016842 ↗ |