CTS Corp Financials
This page shows CTS Corp (CTS) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
CTS Corp has an operating margin of 13.8%, meaning the company retains $14 of operating profit per $100 of revenue. This strong profitability earns a score of 69/100, reflecting efficient cost management and pricing power. This is up from 13.6% the prior year.
CTS Corp's revenue declined 6.5% year-over-year, from $550.4M to $514.8M. This contraction results in a growth score of 10/100.
CTS Corp carries a low D/E ratio of 0.45, meaning only $0.45 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 94/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 2.46, CTS Corp holds $2.46 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 78/100.
CTS Corp converts 15.5% of revenue into free cash flow ($79.6M). This strong cash generation earns a score of 77/100.
CTS Corp's ROE of 10.5% shows moderate profitability relative to equity, earning a score of 42/100. This is down from 11.5% the prior year.
CTS Corp scores 6.62, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($1.7B) relative to total liabilities ($237.2M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
CTS Corp passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, CTS Corp generates $1.77 in operating cash flow ($98.2M OCF vs $55.5M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
CTS Corp earns $16.8 in operating income for every $1 of interest expense ($71.2M vs $4.2M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
CTS Corp generated $514.8M in revenue in fiscal year 2024. This represents a decrease of 6.5% from the prior year.
CTS Corp's EBITDA was $102.1M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 1.6% from the prior year.
CTS Corp generated $79.6M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 7.5% from the prior year.
CTS Corp reported $55.5M in net income in fiscal year 2024. This represents a decrease of 8.4% from the prior year.
CTS Corp earned $1.81 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 5.7% from the prior year.
CTS Corp held $94.3M in cash against $0 in long-term debt as of fiscal year 2024.
CTS Corp paid $0.16 per share in dividends in fiscal year 2024. This represents an increase of 0.0% from the prior year.
CTS Corp had 30M shares outstanding in fiscal year 2024. This represents a decrease of 2.6% from the prior year.
CTS Corp's gross margin was 36.4% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is up 1.8 percentage points from the prior year.
CTS Corp's operating margin was 13.8% in fiscal year 2024, reflecting core business profitability. This is up 0.2 percentage points from the prior year.
CTS Corp's net profit margin was 10.8% in fiscal year 2024, showing the share of revenue converted to profit. This is down 0.2 percentage points from the prior year.
CTS Corp's ROE was 10.5% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is down 1.0 percentage points from the prior year.
CTS Corp invested $23.4M in research and development in fiscal year 2024. This represents a decrease of 6.1% from the prior year.
CTS Corp spent $42.6M on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding. This represents an increase of 4.1% from the prior year.
CTS Corp invested $18.6M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 26.5% from the prior year.
CTS Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $143.0M+5.7% | $135.3M+7.6% | $125.8M-0.5% | $126.5M-2.8% | $130.2M+3.5% | $125.8M+0.8% | $124.7M-7.3% | $134.6M |
| Cost of Revenue | $87.6M+5.7% | $82.9M+4.6% | $79.2M-0.4% | $79.6M-5.1% | $83.8M+3.9% | $80.7M-2.4% | $82.6M-6.3% | $88.2M |
| Gross Profit | $55.3M+5.6% | $52.4M+12.6% | $46.5M-0.8% | $46.9M+1.1% | $46.4M+2.8% | $45.1M+7.2% | $42.1M-9.3% | $46.4M |
| R&D Expenses | $6.9M+9.1% | $6.3M+2.2% | $6.2M+9.2% | $5.7M-6.8% | $6.1M-7.8% | $6.6M+24.8% | $5.3M-16.3% | $6.3M |
| SG&A Expenses | $27.2M+18.0% | $23.1M-2.3% | $23.6M+6.5% | $22.2M+4.0% | $21.3M-4.2% | $22.3M+14.3% | $19.5M+4.3% | $18.7M |
| Operating Income | $20.9M-7.9% | $22.7M+39.6% | $16.3M-9.6% | $18.0M+1.4% | $17.8M+22.2% | $14.5M-10.6% | $16.3M-10.6% | $18.2M |
| Interest Expense | $1.1M-1.0% | $1.1M-3.9% | $1.2M-9.9% | $1.3M+55.5% | $833K+4.0% | $801K-2.6% | $822K-17.6% | $997K |
| Income Tax | $6.0M+35.4% | $4.5M+61.7% | $2.8M-26.4% | $3.7M+22.3% | $3.1M+20.6% | $2.5M+10.1% | $2.3M-51.6% | $4.8M |
| Net Income | $13.7M-26.1% | $18.5M+38.6% | $13.4M+15.6% | $11.6M-21.4% | $14.7M+32.3% | $11.1M-27.4% | $15.3M+9.7% | $14.0M |
| EPS (Diluted) | $0.46-25.8% | $0.62+40.9% | $0.44+15.8% | $0.38-20.8% | $0.48+33.3% | $0.36-26.5% | $0.49+11.4% | $0.44 |
CTS Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $790.4M+0.7% | $784.7M+2.5% | $765.5M0.0% | $765.4M+5.5% | $725.6M-1.0% | $732.8M-1.1% | $741.2M-1.7% | $754.0M |
| Current Assets | $276.2M+5.5% | $261.8M+7.5% | $243.5M+0.6% | $242.2M-23.1% | $314.9M-1.1% | $318.2M-0.4% | $319.3M-4.5% | $334.3M |
| Cash & Equivalents | $110.3M+10.9% | $99.4M+10.1% | $90.3M-4.3% | $94.3M-41.5% | $161.2M-0.7% | $162.4M-0.9% | $163.9M+2.4% | $160.1M |
| Inventory | $54.2M-5.0% | $57.1M+6.0% | $53.9M+3.0% | $52.3M+1.2% | $51.7M-10.6% | $57.8M-3.7% | $60.0M-8.2% | $65.4M |
| Accounts Receivable | $85.9M+0.3% | $85.6M+5.1% | $81.4M+4.9% | $77.6M-9.1% | $85.4M+5.8% | $80.7M+2.7% | $78.6M-12.3% | $89.6M |
| Goodwill | $207.3M-0.1% | $207.5M+2.1% | $203.4M+1.0% | $201.3M+29.0% | $156.1M-0.2% | $156.3M-0.8% | $157.6M+2.3% | $154.1M |
| Total Liabilities | $242.7M+3.5% | $234.6M+3.2% | $227.3M-4.2% | $237.2M+16.9% | $202.9M-4.1% | $211.6M-1.3% | $214.3M-7.3% | $231.3M |
| Current Liabilities | $104.8M+4.3% | $100.5M+8.7% | $92.4M-6.1% | $98.5M+6.5% | $92.4M-3.6% | $95.9M-1.1% | $97.0M-6.2% | $103.4M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $547.7M-0.5% | $550.2M+2.2% | $538.2M+1.9% | $528.2M+1.0% | $522.8M+0.3% | $521.3M-1.1% | $526.8M+0.8% | $522.7M |
| Retained Earnings | $694.9M+1.8% | $682.4M+2.6% | $665.0M+1.9% | $652.9M+4.4% | $625.6M+2.2% | $612.1M+1.6% | $602.2M+2.4% | $588.1M |
CTS Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $29.0M+2.4% | $28.4M+82.7% | $15.5M-37.7% | $24.9M+26.9% | $19.6M+7.2% | $18.3M-42.9% | $32.1M+44.9% | $22.1M |
| Capital Expenditures | $4.8M+46.3% | $3.3M-26.5% | $4.5M-26.8% | $6.1M+31.6% | $4.6M+14.9% | $4.0M+15.2% | $3.5M+27.4% | $2.7M |
| Free Cash Flow | $24.2M-3.4% | $25.1M+126.8% | $11.1M-41.2% | $18.8M+25.4% | $15.0M+5.0% | $14.3M-50.0% | $28.6M+47.4% | $19.4M |
| Investing Cash Flow | -$4.8M-46.3% | -$3.3M+26.5% | -$4.5M+26.8% | -$6.1M-31.6% | -$4.6M-14.9% | -$4.0M-15.2% | -$3.5M-27.4% | -$2.7M |
| Financing Cash Flow | -$15.1M+8.5% | -$16.5M-3.5% | -$15.9M+18.0% | -$19.4M-23.1% | -$15.8M+3.4% | -$16.3M+36.0% | -$25.5M-155.4% | -$10.0M |
| Dividends Paid | $1.2M-1.5% | $1.2M-1.4% | $1.2M-0.6% | $1.2M-0.7% | $1.2M-1.3% | $1.2M-1.2% | $1.2M-0.1% | $1.2M |
| Share Buybacks | $16.6M+0.1% | $16.5M+155.7% | $6.5M-17.2% | $7.8M-28.6% | $10.9M-8.6% | $12.0M-20.5% | $15.0M+80.5% | $8.3M |
CTS Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 38.7%-0.0pp | 38.8%+1.7pp | 37.0%-0.1pp | 37.1%+1.5pp | 35.6%-0.2pp | 35.9%+2.1pp | 33.7%-0.8pp | 34.5% |
| Operating Margin | 14.6%-2.2pp | 16.8%+3.9pp | 13.0%-1.3pp | 14.2%+0.6pp | 13.7%+2.1pp | 11.6%-1.5pp | 13.0%-0.5pp | 13.5% |
| Net Margin | 9.6%-4.1pp | 13.7%+3.1pp | 10.6%+1.5pp | 9.1%-2.2pp | 11.3%+2.5pp | 8.8%-3.4pp | 12.3%+1.9pp | 10.4% |
| Return on Equity | 2.5%-0.9pp | 3.4%+0.9pp | 2.5%+0.3pp | 2.2%-0.6pp | 2.8%+0.7pp | 2.1%-0.8pp | 2.9%+0.2pp | 2.7% |
| Return on Assets | 1.7%-0.6pp | 2.4%+0.6pp | 1.8%+0.2pp | 1.5%-0.5pp | 2.0%+0.5pp | 1.5%-0.5pp | 2.1%+0.2pp | 1.8% |
| Current Ratio | 2.64+0.0 | 2.61-0.0 | 2.63+0.2 | 2.46-0.9 | 3.41+0.1 | 3.32+0.0 | 3.29+0.1 | 3.23 |
| Debt-to-Equity | 0.44+0.0 | 0.430.0 | 0.42-0.0 | 0.45+0.1 | 0.39-0.0 | 0.410.0 | 0.41-0.0 | 0.44 |
| FCF Margin | 16.9%-1.6pp | 18.5%+9.7pp | 8.8%-6.1pp | 14.9%+3.4pp | 11.5%+0.2pp | 11.3%-11.6pp | 22.9%+8.5pp | 14.4% |
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Frequently Asked Questions
What is CTS Corp's annual revenue?
CTS Corp (CTS) reported $514.8M in total revenue for fiscal year 2024. This represents a -6.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is CTS Corp's revenue growing?
CTS Corp (CTS) revenue declined by 6.5% year-over-year, from $550.4M to $514.8M in fiscal year 2024.
Is CTS Corp profitable?
Yes, CTS Corp (CTS) reported a net income of $55.5M in fiscal year 2024, with a net profit margin of 10.8%.
What is CTS Corp's earnings per share (EPS)?
CTS Corp (CTS) reported diluted earnings per share of $1.81 for fiscal year 2024. This represents a -5.7% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is CTS Corp's EBITDA?
CTS Corp (CTS) had EBITDA of $102.1M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
What is CTS Corp's gross margin?
CTS Corp (CTS) had a gross margin of 36.4% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.
What is CTS Corp's operating margin?
CTS Corp (CTS) had an operating margin of 13.8% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is CTS Corp's net profit margin?
CTS Corp (CTS) had a net profit margin of 10.8% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
Does CTS Corp pay dividends?
Yes, CTS Corp (CTS) paid $0.16 per share in dividends during fiscal year 2024.
What is CTS Corp's return on equity (ROE)?
CTS Corp (CTS) has a return on equity of 10.5% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.
What is CTS Corp's free cash flow?
CTS Corp (CTS) generated $79.6M in free cash flow during fiscal year 2024. This represents a 7.5% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is CTS Corp's operating cash flow?
CTS Corp (CTS) generated $98.2M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are CTS Corp's total assets?
CTS Corp (CTS) had $765.4M in total assets as of fiscal year 2024, including both current and long-term assets.
What are CTS Corp's capital expenditures?
CTS Corp (CTS) invested $18.6M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
How much does CTS Corp spend on research and development?
CTS Corp (CTS) invested $23.4M in research and development during fiscal year 2024.
Does CTS Corp buy back shares?
Yes, CTS Corp (CTS) spent $42.6M on share buybacks during fiscal year 2024, returning capital to shareholders by reducing shares outstanding.
How many shares does CTS Corp have outstanding?
CTS Corp (CTS) had 30M shares outstanding as of fiscal year 2024.
What is CTS Corp's current ratio?
CTS Corp (CTS) had a current ratio of 2.46 as of fiscal year 2024, which is generally considered healthy.
What is CTS Corp's debt-to-equity ratio?
CTS Corp (CTS) had a debt-to-equity ratio of 0.45 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is CTS Corp's return on assets (ROA)?
CTS Corp (CTS) had a return on assets of 7.2% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is CTS Corp's Altman Z-Score?
CTS Corp (CTS) has an Altman Z-Score of 6.62, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is CTS Corp's Piotroski F-Score?
CTS Corp (CTS) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are CTS Corp's earnings high quality?
CTS Corp (CTS) has an earnings quality ratio of 1.77x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can CTS Corp cover its interest payments?
CTS Corp (CTS) has an interest coverage ratio of 16.8x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is CTS Corp?
CTS Corp (CTS) scores 62 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.