APT ALPHA PRO TECH LTD

Overview and Growth

In fiscal 2025, ALPHA PRO TECH LTD recorded $59.14M of revenue, net income of $3.53M, and an operating cash inflow of $2.37M. At $59.14M, the top line establishes the operating scale supporting the company’s profit and cash-flow profile. Revenue was 2.3% above fiscal 2024 revenue of $57.84M, marking a year-over-year increase. On a per-share basis, diluted EPS was $0.33, which connects the reported earnings outcome with the company’s diluted share count. Diluted EPS decreased by 5.7% from $0.35 in fiscal 2024, showing how the earnings change reached shareholders on a per-share basis. The company employed $74.13M of total assets, the balance-sheet base supporting its current operating and cash-flow results. Revenue equaled 0.8x of total assets, indicating how much reported top-line activity the company produced relative to its period-end asset base.

Profitability

After reported cost of revenue, the company retained $22.54M as gross profit before recognizing operating expenses and other items. Gross profit represented 38.1% of revenue, showing how much of the top line remained after direct costs. Operations produced $3.84M of income after the reported operating expense base, before the remaining non-operating and tax effects. The operating result equaled 6.5% of revenue, placing the absolute operating-income figure in the context of the company’s sales base. After all reported below-operating-line items, the company recorded net income of $3.53M for the fiscal year. Measured against reported revenue, net income produced a 6.0% margin after operating costs and the remaining recognized items. Income tax expense totaled $1.14M, providing the reported tax component that separates pretax and after-tax earnings. Return on period-end equity was 5.7%, relating annual net income to the equity capital on the balance sheet. The net-income-to-assets relationship measured 4.8%, showing earnings relative to the full balance sheet.

Liquidity and Capital Structure

Total assets were $74.13M, supported by $11.65M of liabilities and $62.48M of shareholder equity. The near-term balance sheet paired $52.52M of current assets with $4.06M of current liabilities at the reporting date. Current assets covered current liabilities by 12.94x, leaving a positive buffer for near-term obligations. Reported cash and equivalents were $16.99M, separating immediately recognizable cash resources from the rest of the current-asset base. The cash balance equaled 418.6% of current liabilities, showing how much near-term coverage came from cash alone. The liabilities-to-assets relationship was 15.7%, placing reported obligations against the full positive asset balance. The cash-to-assets relationship was 22.9%, comparing reported cash and equivalents with the full positive asset balance. Compared with $73.74M in fiscal 2024, the current asset base moved 0.5% and finished higher. Against $62.23M of equity in fiscal 2024, the current book-equity balance moved 0.4% and ended higher. Cash and equivalents were 8.8% lower than fiscal 2024 cash of $18.64M, showing the year-over-year change in liquid resources.

Cash Flow and Earnings Quality

Cash flow from operations was $2.37M, a reported cash inflow that can be compared directly with net income and capital spending. Against net income, operating cash flow measured 0.67x, showing the relationship between accrual earnings and operating cash. Capital expenditures used $639.00K, identifying the reported investment outflow deducted from operating cash flow in the free-cash-flow calculation. Capital spending absorbed 27.0% of operating cash flow, quantifying the share of cash from operations directed to investment. After capital spending, free cash flow was $1.73M, leaving cash available for debt reduction, shareholder returns, or further investment. Free cash flow represented 2.9% of revenue, linking post-investment cash generation with the company’s operating scale. Measured against total assets, free cash flow represented 2.3%, showing the cash productivity of the company’s assets.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 21, 2026.