MPX MARINE PRODUCTS CORP

Overview and Growth

Fiscal 2025 results for MARINE PRODUCTS CORP combined $244.42M of revenue with net income of $11.38M and an operating cash inflow of $16.46M. At $244.42M, the top line establishes the operating scale supporting the company’s profit and cash-flow profile. Compared with $236.56M in fiscal 2024, revenue recorded a 3.3% year-over-year increase. On a per-share basis, diluted EPS was $0.32, which connects the reported earnings outcome with the company’s diluted share count. Against diluted EPS of $0.50 in fiscal 2024, the current result was 36.0% lower. Revenue equaled 1.66x 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 $46.77M as gross profit before recognizing operating expenses and other items. Gross profit represented 19.1% of revenue, showing how much of the top line remained after direct costs. The reported operating result was $14.03M, capturing profitability after direct costs and the operating expenses reflected in the statements. Operating margin measured 5.7%, showing the portion of revenue preserved after the full set of operating costs. Net income came to $11.38M, completing the progression from revenue through gross and operating profitability to the final reported result. Measured against reported revenue, net income produced a 4.7% margin after operating costs and the remaining recognized items. Pretax income was $15.77M, isolating the reported earnings outcome before the income-tax provision recognized for the fiscal year. Pretax income represented 6.4% of revenue, placing earnings before tax in the context of the company’s operating scale. The reported income-tax provision was $4.38M, the amount recognized between pretax income and the final net-income result. Relative to pretax income, the tax provision measured 27.8%, quantifying the portion of pre-tax earnings paid in income tax. The relationship between net income and period-end equity was 9.1%, indicating the profitability achieved on book capital. The net-income-to-assets relationship measured 7.7%, showing earnings relative to the full balance sheet.

Liquidity and Capital Structure

Total assets were $147.23M, supported by $22.27M of liabilities and $124.97M of shareholder equity. At period end, current assets of $110.58M compared with current liabilities of $20.61M, defining the company’s short-term resource position. The current ratio was 5.37x, with current assets exceeding current liabilities and providing a short-term liquidity cushion. Reported cash and equivalents were $43.51M, separating immediately recognizable cash resources from the rest of the current-asset base. The cash balance equaled 211.1% of current liabilities, showing how much near-term coverage came from cash alone. Relative to total assets, liabilities measured 15.1%, complementing the separate equity-based view of the company’s capital structure. Cash and equivalents equaled 29.6% of total assets, showing the liquid cash component within the company’s broader resource base. The asset base changed 14.0% from $171.25M in fiscal 2024, leaving current total assets lower year over year.

Cash Flow and Earnings Quality

The company reported $16.46M of operating cash flow, a cash inflow that shows the cash generated by operations. The operating-cash-flow-to-net-income relationship was 1.45x, comparing cash generated by operations with the bottom-line earnings result. Capital expenditures used $1.54M, identifying the reported investment outflow deducted from operating cash flow in the free-cash-flow calculation. Capital spending absorbed 9.4% of operating cash flow, quantifying the share of cash from operations directed to investment. Free cash flow came to $14.92M, leaving a positive amount after capital expenditures. The free-cash-flow margin was 6.1%, measuring cash remaining after capital spending against revenue. Free cash flow equaled 10.1% of total assets, relating post-investment cash generation to the company’s resource base.

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