TRANSCAT INC
TRNS · Instruments For Meas & Testing of Electricity & Elec Signals · 9.3M shares · +3%/yr ↑ shares · EDGAR filings ↗
Net buyback after stock comp: $394K (gross $5M, SBC $5M)
Reference price $76.67 · est. market cap ~$716M — last insider purchase, 2025-01-31 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
C58Acquisitive calibration-services and instrument-distribution company growing the top line but with very thin returns.
Strengths
- Revenue up 19% with 68 straight quarters of Service growth; OCF margin 75th pct and FCF 70th pct
- Accredited, recurring-revenue calibration niche in regulated end markets; manageable leverage
Risks
- ROE just 1.8% and net margin 1.6%; operating income fell to $13.3M from $17.9M as margins compressed
- Low cash (33rd pct), gross margin 25th pct, and growth heavily acquisition-driven with integration/amortization drag
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- Customer concentration~94% of revenue from one customer/distributor — Sales to domestic customers comprised 94
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
32.6%
Operating margin
4.0%
Net margin
1.6%
Return on equity
1.8%
Return on assets
1.1%
ROIC
2.6%
Revenue growth (QoQ)
6.5%
Net-income growth
-63.0%
Debt / equity
0.3×
Net debt / EBITDA
2.4×
Current ratio
2.3×
Free cash flow
$20M
EBITDA
$39M
Tangible book value
$5M
Cash & investments
$5M
Stock comp / revenue
2.3%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-05-27 | West Michael W. | Tax withheld | 465 | $76.45 |
| 2026-05-27 | Conroy Theresa A. | Grant | 759 | — |
| 2026-05-27 | Conroy Theresa A. | Tax withheld | 335 | $76.45 |
| 2026-05-27 | Barbato Thomas L | Grant | 1.7K | — |
| 2026-05-27 | Barbato Thomas L | Tax withheld | 760 | $76.45 |
| 2026-05-27 | West Michael W. | Grant | 1.1K | — |
| 2026-03-28 | Barbato Thomas L | Option exercise | 1.2K | — |
| 2026-03-28 | Rudow Lee D. | Option exercise | 3.8K | — |
| 2026-03-28 | Rudow Lee D. | Option exercise | 4.2K | — |
| 2026-03-28 | Rudow Lee D. | Tax withheld | 3.0K | $71.32 |
| 2026-03-28 | West Michael W. | Option exercise | 725 | — |
| 2026-03-28 | West Michael W. | Tax withheld | 339 | $71.32 |
| 2026-03-28 | Barbato Thomas L | Tax withheld | 524 | $71.32 |
| 2026-03-28 | Conroy Theresa A. | Option exercise | 524 | — |
| 2026-03-28 | Conroy Theresa A. | Tax withheld | 232 | $71.32 |
| 2026-03-26 | Barbato Thomas L | Tax withheld | 1.2K | $72.97 |
| 2026-03-26 | Rudow Lee D. | Option exercise | 5.0K | — |
| 2026-03-26 | West Michael W. | Tax withheld | 495 | $72.97 |
| 2026-03-26 | Conroy Theresa A. | Option exercise | 1.5K | — |
| 2026-03-26 | Conroy Theresa A. | Tax withheld | 743 | $72.97 |
| 2026-03-26 | West Michael W. | Option exercise | 1.0K | — |
| 2026-03-26 | Barbato Thomas L | Option exercise | 2.5K | — |
| 2026-03-26 | Rudow Lee D. | Tax withheld | 1.9K | $72.97 |
| 2025-09-11 | Cairns Craig D. | Option exercise | 704 | — |
| 2025-09-11 | Mecca Robert | Option exercise | 704 | — |
| 2025-09-11 | Kaniki Mbago M. | Option exercise | 704 | — |
| 2025-09-11 | Haseley Gary J. | Option exercise | 704 | — |
| 2025-09-11 | Gillette Christopher P. | Option exercise | 704 | — |
| 2025-09-11 | DePerrior Dawn | Option exercise | 704 | — |
| 2025-09-11 | Dominach Oksana S. | Option exercise | 704 | — |
| 2025-09-11 | Langston Cynthia | Option exercise | 704 | — |
| 2025-07-31 | HADEED CHARLES P | Option exercise | 704 | — |
| 2025-03-28 | West Michael W. | Option exercise | 871 | — |
| 2025-03-28 | West Michael W. | Tax withheld | 449 | $72.93 |
| 2025-03-28 | DEVERELL SCOTT | Option exercise | 274 | — |
| 2025-03-28 | DEVERELL SCOTT | Tax withheld | 108 | $72.93 |
| 2025-03-28 | Barbato Thomas L | Option exercise | 1.4K | — |
| 2025-03-28 | Barbato Thomas L | Tax withheld | 658 | $72.93 |
| 2025-03-28 | Rudow Lee D. | Option exercise | 3.5K | — |
| 2025-03-28 | Conroy Theresa A. | Option exercise | 633 | — |
| 2025-03-28 | Conroy Theresa A. | Tax withheld | 313 | $72.93 |
| 2025-03-28 | Rudow Lee D. | Tax withheld | 1.3K | $72.93 |
| 2025-01-31 | Cairns Craig D. | Buy | 200 | $76.67 |
| 2025-01-31 | Cairns Craig D. | Buy | 1.0K | $77.09 |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-05-26 | ResultsExhibits | filing ↗ |
| 2026-05-19 | Exec/director change | filing ↗ |
| 2026-03-09 | Material agreementExec/director changeReg FDExhibits | filing ↗ |
| 2026-02-03 | ResultsExhibits | filing ↗ |
| 2026-01-08 | Exec/director changeReg FDExhibits | filing ↗ |
| 2025-11-03 | ResultsExhibits | filing ↗ |
| 2025-09-11 | Exec/director changeShareholder vote | filing ↗ |
| 2025-08-25 | Exec/director changeReg FDExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 10-K | 2026-05-27 | 2026-03-28 | 0001437749-26-018588 ↗ |
| 8-K | 2026-05-26 | 2026-05-26 | 0001437749-26-018375 ↗ |
| 8-K | 2026-05-19 | 2026-05-13 | 0001206774-26-000287 ↗ |
| 8-K | 2026-03-09 | 2026-03-06 | 0001206774-26-000129 ↗ |
| 8-K | 2026-02-03 | 2026-02-03 | 0001437749-26-002801 ↗ |
| 10-Q | 2026-02-03 | 2025-12-27 | 0001437749-26-002800 ↗ |
| 8-K | 2026-01-08 | 2026-01-06 | 0001206774-26-000020 ↗ |
| 10-Q | 2025-11-05 | 2025-09-27 | 0001437749-25-033338 ↗ |
| 8-K | 2025-11-03 | 2025-11-03 | 0001437749-25-032773 ↗ |
| 8-K | 2025-09-11 | 2025-09-10 | 0001206774-25-000682 ↗ |
| 8-K | 2025-08-25 | 2025-08-21 | 0001206774-25-000568 ↗ |
| 8-K | 2025-08-07 | 2025-08-07 | 0001437749-25-025249 ↗ |