Northern Techn Financials
This page shows Northern Techn (NTIC) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 14 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).
Near-flat sales no longer covered the cost structure, leaving Northern Technologies with positive cash generation but almost no reported earnings.
FY2025’s net income fell to$18K while revenue slipped only-1.0% , so the earnings collapse came from thinner profitability rather than a demand break. The clearest clue is the near match between operating income at$2.6M and operating cash flow at$2.4M ; the business still turned activity into cash, but taxes and interest consumed almost everything left for shareholders.
The real squeeze happened below gross profit: gross margin stayed relatively strong at
Cash ended FY2025 at
Financial Health Signals
Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Northern Techn's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Northern Techn has an operating margin of 3.0%, meaning the company retains $3 of operating profit per $100 of revenue. This results in a moderate score of 35/100, indicating healthy but not exceptional operating efficiency. This is down from 9.3% the prior year.
Northern Techn's revenue declined 1% year-over-year, from $85.1M to $84.2M. This contraction results in a growth score of 38/100.
Northern Techn carries a low D/E ratio of 0.42, meaning only $0.42 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 93/100, indicating a strong balance sheet with room for future borrowing.
Northern Techn's current ratio of 1.85 indicates adequate short-term liquidity, earning a score of 33/100. The company can meet its near-term obligations, though with limited headroom.
Northern Techn has a free cash flow margin of 1.1%, earning a moderate score of 31/100. The company generates positive cash flow after capital investments, but with room for improvement.
Northern Techn generates a 0.0% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 18/100. This is down from 7.6% the prior year.
Northern Techn scores 3.32, well above the 2.99 safe threshold. This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Northern Techn passes 3 of 9 financial strength tests. 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.
For every $1 of reported earnings, Northern Techn generates $138.65 in operating cash flow ($2.4M OCF vs $18K net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Northern Techn earns $4.3 in operating income for every $1 of interest expense ($2.6M vs $600K). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.
Key Financial Metrics
Earnings & Revenue
Northern Techn generated $84.2M in revenue in fiscal year 2025. This represents a decrease of 1.0% from the prior year.
Northern Techn's EBITDA was $4.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 55.0% from the prior year.
Northern Techn reported $18K in net income in fiscal year 2025. This represents a decrease of 99.7% from the prior year.
Northern Techn earned $0.00 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 100.0% from the prior year.
Cash & Balance Sheet
Northern Techn generated $917K in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 76.9% from the prior year.
Northern Techn held $7.3M in cash against $0 in long-term debt as of fiscal year 2025.
Northern Techn paid $0.16 per share in dividends in fiscal year 2025. This represents a decrease of 42.9% from the prior year.
Northern Techn had 9M shares outstanding in fiscal year 2025. This represents an increase of 0.1% from the prior year.
Margins & Returns
Northern Techn's gross margin was 37.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 2.1 percentage points from the prior year.
Northern Techn's operating margin was 3.0% in fiscal year 2025, reflecting core business profitability. This is down 6.2 percentage points from the prior year.
Northern Techn's net profit margin was 0.0% in fiscal year 2025, showing the share of revenue converted to profit. This is down 6.3 percentage points from the prior year.
Northern Techn's ROE was 0.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 7.6 percentage points from the prior year.
Capital Allocation
Northern Techn invested $5.0M in research and development in fiscal year 2025. This represents an increase of 4.9% from the prior year.
Northern Techn invested $1.5M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 20.4% from the prior year.
NTIC Income Statement
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $22.0M-5.6% | $23.3M+4.5% | $22.3M+3.8% | $21.5M+12.8% | $19.1M-10.6% | $21.3M-8.6% | $23.3M+12.9% | $20.7M |
| Cost of Revenue | $14.1M-5.3% | $14.9M+7.7% | $13.9M+4.6% | $13.2M+7.9% | $12.3M-6.8% | $13.2M+0.4% | $13.1M+2.6% | $12.8M |
| Gross Profit | $7.9M-6.3% | $8.4M-0.9% | $8.5M+2.4% | $8.3M+21.5% | $6.8M-16.8% | $8.2M-20.1% | $10.2M+29.5% | $7.9M |
| R&D Expenses | $1.2M-3.7% | $1.2M-3.7% | $1.3M+11.4% | $1.1M-11.7% | $1.3M-4.1% | $1.3M+11.1% | $1.2M-2.9% | $1.2M |
| SG&A Expenses | $3.6M-12.9% | $4.1M+19.8% | $3.5M-16.6% | $4.2M+25.0% | $3.3M-14.0% | $3.9M-1.6% | $3.9M+12.1% | $3.5M |
| Operating Income | $383K-59.0% | $934K+0.5% | $929K+7.2% | $867K+360.5% | -$333K-130.1% | $1.1M-59.9% | $2.8M+81.2% | $1.5M |
| Interest Expense | $197K-1.7% | $200K+12.1% | $178K+10.1% | $162K+16.5% | $139K+15.8% | $120K+31.7% | $91K+52.3% | $60K |
| Income Tax | $75K-71.5% | $265K-76.8% | $1.1M+178.1% | $410K+49.2% | $275K+26.3% | $218K-54.4% | $477K+43.6% | $332K |
| Net Income | -$35K-114.9% | $238K+121.6% | -$1.1M-1002.9% | $122K-72.0% | $434K-22.6% | $561K-69.4% | $1.8M+88.0% | $977K |
| EPS (Diluted) | $0.00-100.0% | $0.03 | N/A | $0.01-75.0% | $0.04-33.3% | $0.06 | N/A | $0.10 |
NTIC Balance Sheet
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $104.9M+0.8% | $104.0M+1.2% | $102.7M+3.5% | $99.3M+6.0% | $93.7M-0.4% | $94.0M-0.7% | $94.7M+6.1% | $89.3M |
| Current Assets | $45.2M+1.3% | $44.6M+0.6% | $44.3M+4.1% | $42.6M+7.5% | $39.6M-1.7% | $40.3M-3.1% | $41.6M+9.7% | $37.9M |
| Cash & Equivalents | $6.5M+1.3% | $6.4M-11.9% | $7.3M+7.0% | $6.8M+33.1% | $5.1M-8.6% | $5.6M+12.5% | $5.0M-14.5% | $5.8M |
| Inventory | $16.5M+2.5% | $16.1M+3.8% | $15.5M+4.0% | $14.9M-0.4% | $15.0M+4.5% | $14.3M-7.7% | $15.5M+17.2% | $13.2M |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Goodwill | $4.8M0.0% | $4.8M0.0% | $4.8M0.0% | $4.8M0.0% | $4.8M0.0% | $4.8M0.0% | $4.8M0.0% | $4.8M |
| Total Liabilities | $31.6M-0.2% | $31.7M+3.5% | $30.6M+13.5% | $26.9M+12.5% | $23.9M+0.5% | $23.8M+1.5% | $23.5M+15.0% | $20.4M |
| Current Liabilities | $25.0M-0.7% | $25.2M+5.4% | $23.9M+14.2% | $20.9M+15.0% | $18.2M+0.5% | $18.1M+1.2% | $17.9M+21.0% | $14.8M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $73.3M+1.3% | $72.4M+0.3% | $72.1M-0.3% | $72.4M+3.7% | $69.7M-0.7% | $70.2M-1.4% | $71.2M+3.4% | $68.9M |
| Retained Earnings | $52.3M-0.2% | $52.4M+0.3% | $52.3M-2.2% | $53.5M+0.1% | $53.4M-0.4% | $53.7M-0.2% | $53.8M+2.2% | $52.6M |
NTIC Cash Flow Statement
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$1.7M-604.1% | $342K+125.0% | -$1.4M-324.0% | $610K-24.1% | $804K-66.4% | $2.4M+240.8% | -$1.7M-187.6% | $1.9M |
| Capital Expenditures | $185K-77.5% | $822K+2156.2% | $36K-95.3% | $781K+253.0% | -$511K-141.9% | $1.2M+304.2% | -$597K-155.8% | $1.1M |
| Free Cash Flow | -$1.9M-297.8% | -$480K+65.8% | -$1.4M-718.6% | -$171K-158.4% | $293K-75.1% | $1.2M+151.1% | -$2.3M-364.3% | $869K |
| Investing Cash Flow | -$222K+73.0% | -$822K-48.8% | -$552K+30.7% | -$797K+39.7% | -$1.3M-5.1% | -$1.3M-54.0% | -$817K+25.4% | -$1.1M |
| Financing Cash Flow | $1.9M+605.1% | -$384K-116.0% | $2.4M+35.0% | $1.8M+2337.9% | $73K+118.6% | -$393K-124.1% | $1.6M+833.0% | $175K |
| Dividends Paid | $95K+0.1% | $95K+0.1% | $95K0.0% | $95K-85.7% | $663K0.0% | $663K+0.2% | $662K+0.1% | $661K |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
NTIC Financial Ratios
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 35.7%-0.3pp | 36.0%-1.9pp | 37.9%-0.5pp | 38.4%+2.8pp | 35.6%-2.6pp | 38.3%-5.5pp | 43.8%+5.6pp | 38.2% |
| Operating Margin | 1.7%-2.3pp | 4.0%-0.2pp | 4.2%+0.1pp | 4.0%+5.8pp | -1.8%-6.9pp | 5.2%-6.6pp | 11.8%+4.5pp | 7.4% |
| Net Margin | -0.2%-1.2pp | 1.0%+5.9pp | -4.9%-5.5pp | 0.6%-1.7pp | 2.3%-0.3pp | 2.6%-5.2pp | 7.9%+3.1pp | 4.7% |
| Return on Equity | -0.1%-0.4pp | 0.3%+1.9pp | -1.5%-1.7pp | 0.2%-0.4pp | 0.6%-0.2pp | 0.8%-1.8pp | 2.6%+1.2pp | 1.4% |
| Return on Assets | -0.0%-0.3pp | 0.2%+1.3pp | -1.1%-1.2pp | 0.1%-0.3pp | 0.5%-0.1pp | 0.6%-1.3pp | 1.9%+0.9pp | 1.1% |
| Current Ratio | 1.81+0.0 | 1.77-0.1 | 1.85-0.2 | 2.03-0.1 | 2.18-0.0 | 2.22-0.1 | 2.32-0.2 | 2.56 |
| Debt-to-Equity | 0.430.0 | 0.44+0.0 | 0.42+0.1 | 0.37+0.0 | 0.340.0 | 0.340.0 | 0.33+0.0 | 0.30 |
| FCF Margin | -8.7%-6.6pp | -2.1%+4.2pp | -6.3%-5.5pp | -0.8%-2.3pp | 1.5%-4.0pp | 5.5%+15.3pp | -9.8%-14.0pp | 4.2% |
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Frequently Asked Questions
What is Northern Techn's annual revenue?
Northern Techn (NTIC) reported $84.2M in total revenue for fiscal year 2025. This represents a -1.0% 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 Northern Techn's revenue growing?
Northern Techn (NTIC) revenue declined by 1% year-over-year, from $85.1M to $84.2M in fiscal year 2025.
Is Northern Techn profitable?
Yes, Northern Techn (NTIC) reported a net income of $18K in fiscal year 2025, with a net profit margin of 0.0%.
What is Northern Techn's EBITDA?
Northern Techn (NTIC) had EBITDA of $4.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Northern Techn's gross margin?
Northern Techn (NTIC) had a gross margin of 37.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Northern Techn's operating margin?
Northern Techn (NTIC) had an operating margin of 3.0% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Northern Techn's net profit margin?
Northern Techn (NTIC) had a net profit margin of 0.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does Northern Techn pay dividends?
Yes, Northern Techn (NTIC) paid $0.16 per share in dividends during fiscal year 2025.
What is Northern Techn's return on equity (ROE)?
Northern Techn (NTIC) has a return on equity of 0.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Northern Techn's free cash flow?
Northern Techn (NTIC) generated $917K in free cash flow during fiscal year 2025. This represents a -76.9% 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 Northern Techn's operating cash flow?
Northern Techn (NTIC) generated $2.4M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Northern Techn's total assets?
Northern Techn (NTIC) had $102.7M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Northern Techn's capital expenditures?
Northern Techn (NTIC) invested $1.5M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Northern Techn spend on research and development?
Northern Techn (NTIC) invested $5.0M in research and development during fiscal year 2025.
What is Northern Techn's current ratio?
Northern Techn (NTIC) had a current ratio of 1.85 as of fiscal year 2025, which is generally considered healthy.
What is Northern Techn's debt-to-equity ratio?
Northern Techn (NTIC) had a debt-to-equity ratio of 0.42 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Northern Techn's return on assets (ROA)?
Northern Techn (NTIC) had a return on assets of 0.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Northern Techn's Altman Z-Score?
Northern Techn (NTIC) has an Altman Z-Score of 3.32, 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 Northern Techn's Piotroski F-Score?
Northern Techn (NTIC) has a Piotroski F-Score of 3 out of 9, indicating weak 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Northern Techn's earnings high quality?
Northern Techn (NTIC) has an earnings quality ratio of 138.65x, 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 Northern Techn cover its interest payments?
Northern Techn (NTIC) has an interest coverage ratio of 4.3x, meaning it can adequately 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 Northern Techn?
Northern Techn (NTIC) scores 41 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.