Northern Technologies International Corp. (NTIC) Financials

NTIC

Trailing 12 months to May 31, 2026

Revenue $91.8M +7.7% YoY

Net Income -$1.2M -139.3% YoY

EPS (Diluted) -$0.12 -140.0% YoY

Free Cash Flow -$3.2M -221.1% YoY

Market Cap $72.7M as of Oct 8, 2026

Price / Sales 0.8x on $91.8M revenue, trailing 12 months to May 31, 2026

Price / Earnings n/m net loss, so no earnings multiple, trailing 12 months to May 31, 2026

Price / Book 1.0x on $72.8M equity, Q3 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 8, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q3 FY2026, ended May 31, 2026 Reported Jul 9, 2026 Currency USD FYE August

Newest figures come from the 10-Q for Q3 FY2026, filed Jul 9, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the NTIC SEC filings page.

Northern Technologies International Corp. (NTIC) reported $91.8M in revenue over the twelve months to May 31, 2026, up 7.7% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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).

Rhea AI NTIC FY2025 2026-10-03

FY2025 shows a business with positive cash generation but sharply weaker margins, heavier liabilities, and little accounting profit.

The earnings-to-cash split is the key non-obvious feature: although FY2025 net income was nearly zero, operating cash flow remained $2.4M and free cash flow $917K, consistent with depreciation and working-capital effects supporting cash generation. In FY2023, by contrast, free cash flow was $2.3M against net income of $2.9M, showing that the relationship between reported profit and cash changed materially.

The margin structure weakened without a volume shock: revenue was essentially flat from FY2024 to FY2025, but gross margin slipped from 39.7% to 37.6%. Operating margin then fell from 9.3% to 3.1%, indicating that pressure below gross profit amplified the margin decline.

The balance sheet became more liability-supported: total liabilities rose from $23.5M to $30.6M. Meanwhile, the current ratio fell from 2.3x to 1.9x, so short-term coverage narrowed even as total assets expanded.

Financial Health Signals

Financial Health Score 51/100

Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Northern Technologies International Corp.'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.

Profitability

Northern Technologies International Corp. 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 57/100, indicating healthy but not exceptional operating efficiency. This is down from 9.3% the prior year.

Growth

Northern Technologies International Corp.'s revenue declined 1.0% year-over-year, from $85.1M to $84.2M. This contraction results in a growth score of 40/100.

Leverage

Northern Technologies International Corp. has a moderate D/E ratio of 0.42. This balance of debt and equity financing earns a leverage score of 63/100.

Liquidity

Northern Technologies International Corp.'s current ratio of 1.85 indicates adequate short-term liquidity, earning a score of 55/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow

Northern Technologies International Corp. has a free cash flow margin of 1.1%, earning a moderate score of 35/100. The company generates positive cash flow after capital investments, but with room for improvement.

Returns

Northern Technologies International Corp.'s ROE of 0.0% shows moderate profitability relative to equity, earning a score of 57/100. This is down from 7.6% the prior year.

Altman Z-Score Safe

3.28

Northern Technologies International Corp. scores 3.28, well above the 2.99 safe threshold. This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Partial

3/8

Northern Technologies International Corp. passes 3 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.

Earnings Quality Cash-Backed

N/A

Northern Technologies International Corp. reported $18K of net income while generating $2.4M in operating cash flow. The ratio between the two is outside the range this page publishes as a per-dollar figure, so both figures are given instead.

Interest Coverage Adequate

4.28x

Northern Technologies International Corp. earns $4.28 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

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Earnings & Revenue

Revenue

$24.2M

YoY+12.6%

QoQ+10.1%

5Y CAGR+9.4%

Northern Technologies International Corp. generated $24.2M in revenue in Q3 2026. This represents an increase of 12.6% from the same quarter a year earlier. Against the prior quarter it is up 10.1%.

EBITDA

$1.0M

YoY-21.3%

QoQ+19.6%

5Y CAGR-18.1%

Northern Technologies International Corp.'s EBITDA was $1.0M in Q3 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 21.3% from the same quarter a year earlier. Against the prior quarter it is up 19.6%.

Net Income

-$263K

YoY-316.2%

QoQ-645.4%

Northern Technologies International Corp. reported -$263K in net income in Q3 2026. This represents a decrease of 316.2% from the same quarter a year earlier. Against the prior quarter it is down 645.4%.

EPS (Diluted)

-$0.03

YoY-400.0%

Northern Technologies International Corp. earned -$0.03 per diluted share (EPS) in Q3 2026. This represents a decrease of 400.0% from the same quarter a year earlier.

Cash & Balance Sheet

Free Cash Flow

$577K

YoY+436.8%

QoQ+130.2%

10Y CAGR-10.0%

Northern Technologies International Corp. generated $577K in free cash flow in Q3 2026, representing cash available after capex. This represents an increase of 436.8% from the same quarter a year earlier. Against the prior quarter it is up 130.2%.

Cash & Debt

$7.3M

YoY+7.4%

QoQ+12.5%

5Y CAGR+4.3%

10Y CAGR+4.6%

Northern Technologies International Corp. held $7.3M in cash as of Q3 2026; long-term debt is not reported for that period.

Dividends Per Share

$0.00

YoY-100.0%

QoQ-100.0%

Northern Technologies International Corp. paid $0.00 per share in dividends in Q3 2026. This represents a decrease of 100.0% from the same quarter a year earlier. Against the prior quarter it is down 100.0%.

Shares Outstanding

YoY+0.2%

QoQ0.0%

5Y CAGR+0.8%

10Y CAGR+7.7%

Northern Technologies International Corp. had 9M shares outstanding in Q3 2026. This represents an increase of 0.2% from the same quarter a year earlier. It is unchanged from the prior quarter.

Margins & Returns

Gross Margin

33.6%

YoY-4.8pp

QoQ-2.1pp

5Y change-0.5pp

Northern Technologies International Corp.'s gross margin was 33.6% in Q3 2026, indicating the percentage of revenue retained after direct costs. This is down 4.8 percentage points from the same quarter a year earlier. Against the prior quarter it is down 2.1 percentage points.

Operating Margin

2.1%

YoY-1.9pp

QoQ+0.4pp

5Y change-14.6pp

Northern Technologies International Corp.'s operating margin was 2.1% in Q3 2026, reflecting core business profitability. This is down 1.9 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.4 percentage points.

Net Margin

-1.1%

YoY-1.7pp

QoQ-0.9pp

5Y change-14.4pp

Northern Technologies International Corp.'s net profit margin was -1.1% in Q3 2026, showing the share of revenue converted to profit. This is down 1.7 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.9 percentage points.

Return on Equity

-0.4%

YoY-0.5pp

QoQ-0.3pp

5Y change-3.7pp

Northern Technologies International Corp.'s ROE was -0.4% in Q3 2026, measuring profit generated per dollar of shareholder equity. This is down 0.5 percentage points from the same quarter a year earlier. Against the prior quarter it is down 0.3 percentage points.

Capital Allocation

R&D Spending

$1.2M

YoY+6.0%

QoQ+2.7%

5Y CAGR+2.5%

Northern Technologies International Corp. invested $1.2M in research and development in Q3 2026. This represents an increase of 6.0% from the same quarter a year earlier. Against the prior quarter it is up 2.7%.

Capital Expenditures

$46K

YoY-94.1%

QoQ-74.8%

5Y CAGR-29.0%

10Y CAGR-10.7%

Northern Technologies International Corp. invested $46K in capex in Q3 2026, funding long-term assets and infrastructure. This represents a decrease of 94.1% from the same quarter a year earlier. Against the prior quarter it is down 74.8%.

Share Buybacks

Not reported for Q3 2026.

NTIC Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

NTIC quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Revenue	$91.8M	$84.2M-1.0%	$85.1M+6.5%	$79.9M+7.7%	$74.2M+31.3%	$56.5M+18.6%	$47.6M-14.5%	$55.8M+295.6%	$14.1M-64.4%	$39.6M+20.1%	$32.9M+8.6%	$30.3M+13.0%	$26.8M+19.2%	$22.5M-1.2%	$22.8M+16.7%	$19.5M
Cost of Revenue	$59.0M	$52.6M+2.5%	$51.3M-1.6%	$52.1M+2.0%	$51.1M+38.4%	$36.9M+16.8%	$31.6M-16.8%	$38.0M+11.1%	$34.2M+29.8%	$26.3M+17.9%	$22.3M+8.6%	$20.6M+15.5%	$17.8M+15.1%	$15.5M+6.5%	$14.5M+13.8%	$12.8M
Gross Profit	$32.8M	$31.7M-6.2%	$33.8M+21.5%	$27.8M+20.5%	$23.1M+17.9%	$19.6M+22.1%	$16.0M-9.8%	$17.8M+188.6%	-$20.1M-251.5%	$13.3M+24.9%	$10.6M+8.7%	$9.8M+8.2%	$9.0M+28.4%	$7.0M-14.8%	$8.3M+22.1%	$6.8M
R&D Expenses	$4.9M	$5.0M+4.9%	$4.8M-3.3%	$5.0M+4.0%	$4.8M+8.5%	$4.4M+10.6%	$4.0M+4.1%	$3.8M+8.4%	$3.5M+21.0%	$2.9M-38.4%	$4.7M+16.7%	$4.0M-7.4%	$4.4M+14.5%	$3.8M-1.5%	$3.9M-11.2%	$4.4M
SG&A Expenses	$15.8M	$14.8M+4.3%	$14.2M+7.7%	$13.2M+24.2%	$10.6M+28.3%	$8.3M-4.9%	$8.7M-7.1%	$9.3M+10.0%	$8.5M+8.9%	$7.8M-5.2%	$8.2M+26.0%	$6.5M+21.1%	$5.4M+17.1%	$4.6M+6.9%	$4.3M-0.8%	$4.3M
Operating Income	$2.8M	$2.6M-67.3%	$7.9M+30.7%	$6.0M+16.9%	$5.1M-38.1%	$8.3M+424.1%	$1.6M-75.9%	$6.6M-17.8%	$8.0M+74.3%	$4.6M+258.7%	$1.3M-59.3%	$3.2M-52.9%	$6.7M+34.8%	$5.0M+8.6%	$4.6M-1.2%	$4.6M
EBITDA	N/A	$4.3M-55.0%	$9.6M+25.7%	$7.7M+13.9%	$6.7M-27.2%	$9.2M+280.6%	$2.4M-67.4%	$7.4M-16.2%	$8.9M+64.6%	$5.4M+177.4%	$1.9M-47.2%	$3.7M-48.5%	$7.1M+32.4%	$5.4M+9.7%	$4.9M-0.8%	$5.0M
Interest Expense	$779K	$600K+76.4%	$340K-26.3%	$462K+418.3%	$89K+453.9%	$16K+0.3%	$16K+18.2%	$14K-24.5%	$18K-11.9%	$20K+53.7%	$13K-36.7%	$21K-55.7%	$47K-9.4%	$52K+77.7%	$29K-50.6%	$60K
Income Tax	$1.9M	$2.0M+54.2%	$1.3M-1.8%	$1.3M-28.0%	$1.9M+28.2%	$1.5M-45.3%	$2.7M+217.7%	$842K-3.9%	$876K+25.2%	$700K+11.7%	$626K-3.5%	$649K-42.3%	$1.1M+30.2%	$864K-17.0%	$1.0M+47.5%	$706K
Net Income	-$1.2M	$18K-99.7%	$5.4M+85.7%	$2.9M-54.0%	$6.3M+0.7%	$6.3M+569.6%	-$1.3M-125.7%	$5.2M-22.3%	$6.7M+95.8%	$3.4M+494.5%	-$868K-148.5%	$1.8M-56.4%	$4.1M+22.0%	$3.4M-2.4%	$3.4M-11.6%	$3.9M
EPS (Basic)	N/A	$0.00-100.0%	$0.57+83.9%	$0.31-55.1%	$0.690.0%	$0.69+560.0%	-$0.15-126.3%	$0.57-23.0%	$0.74-2.6%	$0.76+500.0%	-$0.19-147.5%	$0.40-56.5%	$0.92+21.1%	$0.76-3.8%	$0.79-12.2%	$0.90
EPS (Diluted)	-$0.12	$0.00-100.0%	$0.55+83.3%	$0.30-54.5%	$0.66+3.1%	$0.64+526.7%	-$0.15-127.3%	$0.55-23.6%	$0.72	$0.75+494.7%	-$0.19-150.0%	$0.38-57.8%	$0.90+20.0%	$0.75-3.8%	$0.78-12.4%	$0.89
Diluted Shares (Avg)	N/A	10M-2.0%	10M+1.4%	10M+0.6%	10M-2.4%	10M+8.5%	9M-3.4%	9M+0.5%	9M	5M+0.9%	5M-2.4%	5M+1.5%	5M+2.3%	4M+0.5%	4M+1.1%	4M

Metric	Q3'2610-Q	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K
Revenue	$24.2M+12.6%	$22.0M+15.3%	$23.3M+9.2%	$22.3M-4.4%	$21.5M+4.0%	$19.1M-8.5%	$21.3M+5.7%	$23.3M+12.7%
Cost of Revenue	$16.1M+21.3%	$14.1M+15.2%	$14.9M+13.3%	$13.9M+5.5%	$13.2M+3.6%	$12.3M-1.8%	$13.2M+2.6%	$13.1M-0.1%
Gross Profit	$8.1M-1.4%	$7.9M+15.6%	$8.4M+2.7%	$8.5M-17.2%	$8.3M+4.6%	$6.8M-18.5%	$8.2M+11.3%	$10.2M+35.0%
R&D Expenses	$1.2M+6.0%	$1.2M-8.8%	$1.2M-9.1%	$1.3M+4.8%	$1.1M-8.6%	$1.3M+3.8%	$1.3M+21.5%	$1.2M-6.1%
SG&A Expenses	$4.3M+9.9%	$3.6M+8.8%	$4.1M+7.5%	$3.7M-6.2%	$3.9M+12.4%	$3.3M+2.6%	$3.9M+9.7%	$3.9M+6.1%
Operating Income	$515K-40.6%	$383K+215.0%	$934K-15.6%	$929K-66.3%	$867K-43.1%	-$333K-115.1%	$1.1M-19.6%	$2.8M+11.8%
EBITDA	$1.0M-21.3%	$866K+1029.9%	$1.2M-22.3%	$1.4M-55.7%	$1.3M-32.8%	$77K-97.1%	$1.5M-16.9%	$3.2M+10.1%
Interest Expense	$204K+25.8%	$197K+41.3%	$200K+66.3%	$178K+95.5%	$162K+170.4%	$139K+79.0%	$120K+8.2%	$91K-23.4%
Income Tax	$393K-4.3%	$75K-72.6%	$265K+21.6%	$1.1M+139.1%	$410K+23.5%	$275K-4.8%	$218K-3.9%	$477K-7.3%
Net Income	-$263K-316.2%	-$35K-108.1%	$238K-57.6%	-$1.1M-159.9%	$122K-87.5%	$434K-74.5%	$561K-37.3%	$1.8M+95.5%
EPS (Basic)	-$0.03-400.0%	$0.00-100.0%	$0.03-50.0%	-$0.12-163.2%	$0.01-90.0%	$0.05-72.2%	$0.06-33.3%	$0.19+90.0%
EPS (Diluted)	-$0.03-400.0%	$0.00-100.0%	$0.03-50.0%	-$0.12-163.2%	$0.01-90.0%	$0.04-76.5%	$0.06-33.3%	$0.19+90.0%
Diluted Shares (Avg)	9M-0.5%	9M-2.7%	9M-2.7%	N/A	10M-4.8%	10M+0.3%	10M+0.5%	N/A

NTIC Balance Sheet

NTIC quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Total Assets	$102.7M+8.5%	$94.7M+6.0%	$89.3M+3.7%	$86.2M+15.9%	$74.4M+12.6%	$66.1M-2.1%	$67.5M+6.2%	$63.5M+12.3%	$56.6M+10.9%	$51.1M-1.0%	$51.6M-4.6%	$54.1M+10.2%	$49.1M+17.1%	$41.9M+4.6%	$40.0M
Current Assets	$44.3M+6.6%	$41.6M+4.8%	$39.7M-1.4%	$40.2M+19.2%	$33.7M+1.6%	$33.2M-0.3%	$33.3M+8.9%	$30.6M+17.3%	$26.1M+24.5%	$20.9M+8.6%	$19.3M-13.6%	$22.3M+31.8%	$16.9M+20.4%	$14.1M+4.2%	$13.5M
Cash & Equivalents	$7.3M+46.4%	$5.0M-8.4%	$5.4M+1.4%	$5.3M-30.6%	$7.7M+20.0%	$6.4M+9.3%	$5.9M+40.7%	$4.2M-34.5%	$6.4M+87.3%	$3.4M+29.4%	$2.6M+5.9%	$2.5M-42.6%	$4.3M+4.3%	$4.1M+26.7%	$3.3M
Short-Term Investments	$0	$0	$0-100.0%	$6K+20.6%	$5K-99.9%	$5.5M+55.5%	$3.6M+8.0%	$3.3M-12.4%	$3.8M+67.9%	$2.2M+10.7%	$2.0M-63.3%	$5.5M	$0	$0	$0
Inventory	$15.5M0.0%	$15.5M+18.5%	$13.1M-19.9%	$16.3M+47.0%	$11.1M+1.4%	$11.0M+4.5%	$10.5M+14.9%	$9.1M+22.5%	$7.5M-3.3%	$7.7M+3.3%	$7.5M+25.3%	$6.0M+48.5%	$4.0M+49.3%	$2.7M-30.0%	$3.8M
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$4.8M0.0%	$4.8M0.0%	$4.8M0.0%	$4.8M	$0	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$30.6M+30.3%	$23.5M+2.2%	$23.0M+1.7%	$22.6M+88.3%	$12.0M+27.5%	$9.4M-13.8%	$10.9M+4.2%	$10.5M+35.1%	$7.8M+18.6%	$6.5M-2.3%	$6.7M-19.4%	$8.3M-0.2%	$8.3M+62.5%	$5.1M-7.0%	$5.5M
Current Liabilities	$23.9M+33.6%	$17.9M+7.0%	$16.7M-2.0%	$17.1M+100.4%	$8.5M+39.7%	$6.1M-22.2%	$7.8M+1.4%	$7.7M+57.9%	$4.9M+22.5%	$4.0M+8.8%	$3.7M-17.8%	$4.5M+22.0%	$3.7M-8.4%	$4.0M-9.2%	$4.4M
Non-Current Liabilities	$2.1M+32.7%	$1.6M-16.6%	$1.9M+2.1%	$1.9M+1710.0%	$104K-61.8%	$272K-91.1%	$3.1M+12.1%	$2.7M-4.0%	$2.9M+12.5%	$2.5M-15.9%	$3.0M-21.3%	$3.8M-17.6%	$4.7M+315.4%	$1.1M+1.8%	$1.1M
Total Equity	$72.1M+1.3%	$71.2M+7.3%	$66.4M+4.3%	$63.6M+2.0%	$62.4M+10.1%	$56.7M+0.1%	$56.6M+6.6%	$53.1M+8.6%	$48.9M+9.7%	$44.5M-0.8%	$44.9M-1.9%	$45.8M+12.3%	$40.7M+10.8%	$36.8M+6.4%	$34.5M
Retained Earnings	$52.3M-2.8%	$53.8M+5.4%	$51.0M+0.6%	$50.7M+8.0%	$47.0M+10.6%	$42.5M-5.6%	$45.0M+7.2%	$42.0M+13.2%	$37.1M+10.2%	$33.7M-2.5%	$34.5M+5.5%	$32.7M+14.3%	$28.6M+13.3%	$25.3M+15.8%	$21.8M

Metric	Q3'2610-Q	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K
Total Assets	$107.1M+7.9%	$104.9M+12.0%	$104.0M+10.6%	$102.7M+8.5%	$99.3M+11.2%	$93.7M+7.3%	$94.0M+5.9%	$94.7M+6.0%
Current Assets	$47.8M+12.1%	$45.2M+14.1%	$44.6M+10.7%	$44.3M+6.6%	$42.6M+12.4%	$39.6M+6.1%	$40.3M+5.3%	$41.6M+4.8%
Cash & Equivalents	$7.3M+7.4%	$6.5M+27.1%	$6.4M+14.7%	$7.3M+46.4%	$6.8M+16.9%	$5.1M+5.3%	$5.6M-8.6%	$5.0M-8.4%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Inventory	$15.8M+6.1%	$16.5M+10.2%	$16.1M+12.3%	$15.5M0.0%	$14.9M+12.7%	$15.0M+19.5%	$14.3M+13.9%	$15.5M+18.5%
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$4.8M0.0%	$4.8M0.0%	$4.8M0.0%	$4.8M0.0%	$4.8M0.0%	$4.8M0.0%	$4.8M0.0%	$4.8M0.0%
Total Liabilities	$34.3M+27.3%	$31.6M+32.0%	$31.7M+32.9%	$30.6M+30.3%	$26.9M+32.0%	$23.9M+26.4%	$23.8M+10.7%	$23.5M+2.2%
Current Liabilities	$27.8M+32.7%	$25.0M+37.4%	$25.2M+39.0%	$23.9M+33.6%	$20.9M+41.5%	$18.2M+36.3%	$18.1M+14.3%	$17.9M+7.0%
Non-Current Liabilities	$2.1M+15.2%	$2.2M+31.4%	$2.2M+34.6%	$2.1M+32.7%	$1.8M-5.8%	$1.6M-18.0%	$1.6M-16.6%	$1.6M-16.6%
Total Equity	$72.8M+0.6%	$73.3M+5.1%	$72.4M+3.1%	$72.1M+1.3%	$72.4M+5.1%	$69.7M+2.0%	$70.2M+4.3%	$71.2M+7.3%
Retained Earnings	$52.0M-2.7%	$52.3M-2.2%	$52.4M-2.3%	$52.3M-2.8%	$53.5M+1.7%	$53.4M+2.2%	$53.7M+4.7%	$53.8M+5.4%

Not reported in any period shown, so not listed: Accounts Receivable, Long-Term Debt.

NTIC Cash Flow Statement

NTIC quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Cash Flow	-$2.1M	$2.4M-58.5%	$5.9M+6.2%	$5.5M+383.5%	$1.1M-60.4%	$2.9M-41.1%	$4.9M-10.3%	$5.5M+799.8%	$609K-89.4%	$5.7M+179.0%	$2.1M+372.1%	-$756K-8901.0%	-$8K+99.3%	-$1.2M-220.3%	-$389K+65.8%	-$1.1M
Depreciation & Amortization	N/A	$1.8M+0.2%	$1.8M+7.5%	$1.6M+4.0%	$1.6M+73.2%	$905K+8.2%	$837K-0.6%	$841K-1.4%	$854K+8.4%	$787K+19.3%	$660K+24.4%	$530K+16.6%	$455K+4.4%	$436K+24.1%	$351K+4.5%	$336K
Stock-Based Compensation	N/A	$1.4M-1.5%	$1.4M+3.2%	$1.3M+43.6%	$932K+40.3%	$664K-50.4%	$1.3M-6.6%	$1.4M+246.7%	$413K+5.5%	$392K-8.4%	$427K-13.8%	$496K+9.2%	$454K+48.2%	$306K+6.3%	$288K+62.1%	$178K
Capital Expenditures	$1.1M	$1.5M-20.4%	$1.9M-40.9%	$3.2M+117.0%	$1.5M-72.9%	$5.5M+677.7%	$711K-25.9%	$960K+41.1%	$681K-26.2%	$922K+43.3%	$643K-55.3%	$1.4M-10.2%	$1.6M+7.7%	$1.5M+43.4%	$1.0M+82.9%	$567K
Free Cash Flow	-$3.2M	$917K-76.9%	$4.0M+72.9%	$2.3M+754.2%	-$351K+86.7%	-$2.6M-162.8%	$4.2M-7.0%	$4.5M+6389.3%	-$72K-101.5%	$4.8M+240.8%	$1.4M+164.4%	-$2.2M-36.2%	-$1.6M+41.1%	-$2.7M-91.6%	-$1.4M+16.3%	-$1.7M
Investing Cash Flow	-$1.8M	-$3.9M-15.0%	-$3.4M-2.2%	-$3.3M+53.0%	-$7.1M-6780.0%	-$103K+96.3%	-$2.8M-107.8%	-$1.3M-346.5%	-$300K+88.5%	-$2.6M-162.0%	-$995K-152.3%	$1.9M+125.5%	-$7.5M-5612.3%	-$131K-109.7%	$1.4M-38.1%	$2.2M
Financing Cash Flow	$4.4M	$3.9M+230.6%	-$3.0M-44.0%	-$2.1M-164.4%	$3.2M+309.5%	-$1.5M-0.3%	-$1.5M+36.6%	-$2.4M-0.9%	-$2.4M-946.4%	-$227K+16.1%	-$270K	N/A	-$1.8M-16.0%	-$1.6M-11414.3%	$14K-96.6%	$409K
Dividends Paid	$284K	$1.5M-42.6%	$2.6M+0.7%	$2.6M+1.7%	$2.6M+44.9%	$1.8M+50.6%	$1.2M-45.8%	$2.2M+20.1%	$1.8M	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$196K+41.3%	$139K+470.4%	$24K	N/A	N/A	N/A	N/A

Metric	Q3'2610-Q	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K
Operating Cash Flow	$623K+2.2%	-$1.7M-314.5%	$342K-85.7%	-$1.4M+19.7%	$610K-68.6%	$804K-68.7%	$2.4M-22.2%	-$1.7M-183.6%
Depreciation & Amortization	$521K+15.8%	$484K+18.1%	$248K-40.2%	$483K+13.5%	$449K+3.4%	$410K-6.5%	$415K-8.8%	$426K+0.6%
Stock-Based Compensation	N/A	N/A	$311K-9.1%	N/A	N/A	N/A	$342K-2.6%	N/A
Capital Expenditures	$46K-94.1%	$185K-63.8%	$822K-32.6%	$36K-93.9%	$781K-27.1%	-$511K-51.5%	$1.2M+212.1%	-$597K-6.6%
Free Cash Flow	$577K+436.8%	-$1.9M-751.0%	-$480K-140.8%	-$1.4M+39.0%	-$171K-119.7%	$293K-80.6%	$1.2M-56.2%	-$2.3M-264.7%
Investing Cash Flow	-$197K+75.3%	-$222K+83.2%	-$822K+34.7%	-$552K+32.4%	-$797K+27.2%	-$1.3M-22.2%	-$1.3M-196.9%	-$817K-23.0%
Financing Cash Flow	$397K-77.7%	$1.9M+2555.3%	-$384K+2.4%	$2.4M+47.4%	$1.8M+918.5%	$73K+102.7%	-$393K+80.5%	$1.6M+176.3%
Dividends Paid	$0-100.0%	$95K-85.7%	$95K-85.7%	$95K-85.7%	$95K-85.7%	$663K+0.5%	$663K+0.5%	$662K+0.7%

Not reported in any period shown, so not listed: Share Buybacks.

NTIC Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

NTIC quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Gross Margin	37.6%-2.1pp	39.7%+4.9pp	34.8%+3.7pp	31.1%-3.5pp	34.6%+1.0pp	33.7%+1.8pp	31.9%	-142.4%	33.5%+1.3pp	32.2%0.0pp	32.2%-1.4pp	33.6%+2.4pp	31.2%-5.0pp	36.2%+1.6pp	34.6%
Operating Margin	3.0%-6.2pp	9.3%+1.7pp	7.5%+0.6pp	6.9%-7.8pp	14.7%+11.4pp	3.3%-8.5pp	11.8%-45.1pp	56.9%+45.3pp	11.6%+7.7pp	3.9%-6.5pp	10.4%-14.6pp	24.9%+2.9pp	22.1%+2.0pp	20.1%-3.6pp	23.7%
Net Margin	0.0%-6.3pp	6.4%+2.7pp	3.6%-4.9pp	8.5%-2.6pp	11.1%+13.9pp	-2.8%-12.2pp	9.3%-38.2pp	47.5%+38.9pp	8.6%+11.3pp	-2.6%-8.5pp	5.9%-9.4pp	15.3%+0.4pp	15.0%-0.2pp	15.1%-4.8pp	20.0%
Return on Equity	0.0%-7.6pp	7.6%+3.2pp	4.4%-5.6pp	10.0%-0.1pp	10.1%+12.4pp	-2.4%-11.6pp	9.2%-3.4pp	12.6%+5.6pp	7.0%+9.0pp	-1.9%-5.9pp	4.0%-5.0pp	9.0%+0.7pp	8.3%-1.1pp	9.4%-1.9pp	11.3%
Return on Assets	0.0%-5.7pp	5.7%+2.5pp	3.3%-4.1pp	7.3%-1.1pp	8.5%+10.5pp	-2.0%-9.7pp	7.7%-2.8pp	10.5%+4.5pp	6.0%+7.7pp	-1.7%-5.2pp	3.5%-4.1pp	7.6%+0.7pp	6.9%-1.4pp	8.2%-1.5pp	9.7%
Current Ratio	1.85-0.5x	2.320.0x	2.370.0x	2.36-1.6x	3.96-1.5x	5.45+1.2x	4.25+0.3x	3.95-1.4x	5.33+0.1x	5.240.0x	5.25+0.3x	5.00+0.4x	4.62+1.1x	3.52+0.5x	3.06
Debt-to-Equity	0.42+0.1x	0.330.0x	0.350.0x	0.36+0.2x	0.190.0x	0.170.0x	0.190.0x	0.200.0x	0.160.0x	0.150.0x	0.150.0x	0.180.0x	0.20+0.1x	0.140.0x	0.16
Asset Turnover	0.82-0.1x	0.900.0x	0.890.0x	0.86+0.1x	0.760.0x	0.72-0.1x	0.83+0.6x	0.22-0.5x	0.70+0.1x	0.64+0.1x	0.59+0.1x	0.500.0x	0.46-0.1x	0.54+0.1x	0.49
FCF Margin	1.1%-3.6pp	4.7%+1.8pp	2.9%+3.3pp	-0.5%+4.2pp	-4.7%-13.5pp	8.8%+0.7pp	8.1%+8.6pp	-0.5%-12.7pp	12.2%+7.9pp	4.3%+11.5pp	-7.2%-1.2pp	-6.0%+6.2pp	-12.2%-5.9pp	-6.3%+2.5pp	-8.7%

Metric	Q3'2610-Q	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K
Gross Margin	33.6%-4.8pp	35.7%+0.1pp	36.0%-2.3pp	37.9%-5.9pp	38.4%+0.2pp	35.6%-4.4pp	38.3%+1.9pp	43.8%+7.2pp
Operating Margin	2.1%-1.9pp	1.7%+3.5pp	4.0%-1.2pp	4.2%-7.7pp	4.0%-3.3pp	-1.8%-12.3pp	5.2%-1.6pp	11.8%-0.1pp
Net Margin	-1.1%-1.7pp	-0.2%-2.4pp	1.0%-1.6pp	-4.9%-12.8pp	0.6%-4.1pp	2.3%-5.9pp	2.6%-1.8pp	7.9%+3.3pp
Return on Equity	-0.4%-0.5pp	-0.1%-0.7pp	0.3%-0.5pp	-1.5%-4.1pp	0.2%-1.3pp	0.6%-1.9pp	0.8%-0.5pp	2.6%+1.2pp
Return on Assets	-0.3%-0.4pp	0.0%-0.5pp	0.2%-0.4pp	-1.1%-3.0pp	0.1%-1.0pp	0.5%-1.5pp	0.6%-0.4pp	1.9%+0.9pp
Current Ratio	1.72-0.3x	1.81-0.4x	1.77-0.5x	1.85-0.5x	2.03-0.5x	2.18-0.6x	2.22-0.2x	2.320.0x
Debt-to-Equity	0.47+0.1x	0.43+0.1x	0.44+0.1x	0.42+0.1x	0.37+0.1x	0.34+0.1x	0.340.0x	0.330.0x
Asset Turnover	0.230.0x	0.210.0x	0.220.0x	0.220.0x	0.220.0x	0.200.0x	0.230.0x	0.250.0x
FCF Margin	2.4%+3.2pp	-8.7%-10.2pp	-2.1%-7.6pp	-6.3%+3.6pp	-0.8%-5.0pp	1.5%-5.7pp	5.5%-7.8pp	-9.8%-16.6pp

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
Northern Technologies International Corp. NTIC	FY2025	$84.2M	$18K	0.0%	$72.7M	51/100
Trinseo PLC TSE	FY2025	$3.0B	-$545.6M	-18.3%	$8.3M	16/100
Alto Ingredients, Inc. ALTO	FY2025	$917.9M	$13K	0.0%	$282.7M	33/100
Loop Industries, Inc. LOOP	FY2026	$514K	-$12.3M	N/A	$20.0M	—
5E Advanced Materials, Inc. FEAM	FY2026	N/A	-$42.9M	N/A	$129.5M	—
Flexible Solutions International, Inc. FSI	FY2025	$38.5M	$787K	2.0%	$80.2M	61/100

Where Northern Technologies International Corp. Ranks

Frequently Asked Questions

What is Northern Technologies International Corp.'s annual revenue?

Northern Technologies International Corp. (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 Technologies International Corp.'s revenue growing?

Northern Technologies International Corp. (NTIC) revenue declined by 1.0% year-over-year, from $85.1M to $84.2M in fiscal year 2025.

Is Northern Technologies International Corp. profitable?

Yes, Northern Technologies International Corp. (NTIC) reported a net income of $18K in fiscal year 2025, with a net profit margin of 0.0%.

What is Northern Technologies International Corp.'s EBITDA?

Northern Technologies International Corp. (NTIC) had EBITDA of $4.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is Northern Technologies International Corp.'s gross margin?

Northern Technologies International Corp. (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 Technologies International Corp.'s operating margin?

Northern Technologies International Corp. (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 Technologies International Corp.'s net profit margin?

Northern Technologies International Corp. (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 Technologies International Corp. pay dividends?

Yes, Northern Technologies International Corp. (NTIC) paid $0.16 per share in dividends during fiscal year 2025.

What is Northern Technologies International Corp.'s return on equity (ROE)?

Northern Technologies International Corp. (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 Technologies International Corp.'s free cash flow?

Northern Technologies International Corp. (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 Technologies International Corp.'s operating cash flow?

Northern Technologies International Corp. (NTIC) generated $2.4M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Northern Technologies International Corp.'s total assets?

Northern Technologies International Corp. (NTIC) had $102.7M in total assets as of fiscal year 2025, including both current and long-term assets.

What are Northern Technologies International Corp.'s capital expenditures?

Northern Technologies International Corp. (NTIC) invested $1.5M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Northern Technologies International Corp. spend on research and development?

Northern Technologies International Corp. (NTIC) invested $5.0M in research and development during fiscal year 2025.

How many shares does Northern Technologies International Corp. have outstanding?

Northern Technologies International Corp. (NTIC) had 9M shares outstanding as of fiscal year 2025.

What is Northern Technologies International Corp.'s current ratio?

Northern Technologies International Corp. (NTIC) had a current ratio of 1.85 as of fiscal year 2025, which is generally considered healthy.

What is Northern Technologies International Corp.'s debt-to-equity ratio?

Northern Technologies International Corp. (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 Technologies International Corp.'s return on assets (ROA)?

Northern Technologies International Corp. (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 Technologies International Corp.'s P/E ratio?

Northern Technologies International Corp. (NTIC) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to May 31, 2026). The market capitalization is $72.7M as of Oct 8, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Northern Technologies International Corp.'s price-to-sales ratio?

Northern Technologies International Corp. (NTIC) trades at 0.8x sales, its market capitalization divided by revenue of $91.8M revenue, trailing 12 months to May 31, 2026. The market capitalization is $72.7M as of Oct 8, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Northern Technologies International Corp.'s Altman Z-Score?

Northern Technologies International Corp. (NTIC) has an Altman Z-Score of 3.28, 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 Technologies International Corp.'s Piotroski F-Score?

Northern Technologies International Corp. (NTIC) has a Piotroski F-Score of 3 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 Technologies International Corp.'s earnings high quality?

Northern Technologies International Corp. (NTIC) reported $18K of net income while generating $2.4M in operating cash flow. The ratio between the two is outside the range this page publishes as a per-dollar figure, so both figures are given instead. 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 Technologies International Corp. cover its interest payments?

Northern Technologies International Corp. (NTIC) has an interest coverage ratio of 4.28x, 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 Technologies International Corp.?

Northern Technologies International Corp. (NTIC) scores 51 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.