Executive Summary
Taylor Devices reported solid Q4 2024 results with a revenue of $12.07 million, up 12.6% year-over-year, driven by ongoing demand for its seismic dampers, shock absorption, and related components in defense, aerospace, and industrial markets. Gross margin stood at 48.8%, supporting an operating margin of 20.8% and net income of $2.47 million (EPS basic $0.59, diluted $0.47). The company generated strong operating cash flow of $6.54 million and free cash flow of $6.14 million, enabling a net cash position of approximately $2.83 million given no short- or long-term debt. Balance sheet health is robust: total assets of $64.24 million, total liabilities $12.99 million, and stockholders’ equity around $51.25 million with a current ratio of 4.12 and a quick ratio of 3.49.
Sequentially, revenue declined modestly by about 1.5% quarter-over-quarter, and earnings per share fell roughly 32% due to seasonality and mix effects, while margins remained resilient. The cash flow profile was notably favorable, as operating cash flow funded capital expenditures and provided meaningful free cash flow in the period. The absence of formal forward guidance in the provided data is a consideration for investors seeking visibility into cadence and backlog expectations.
Overall, Taylor Devices’ QQ4 2024 results reflect a defensible, high-margin business with a strong balance sheet and cash generation capability. The main question for investors is the sustainability of the growth trajectory in the broader aerospace/defense and infrastructure end-markets, and how management plans to allocate excess cash given the current debt-free posture.
Key Performance Indicators
QoQ: -16.04% | YoY:21.44%
Key Insights
Revenue: $12,065,211; YoY +12.55%; QoQ -1.54%
Gross Profit: $5,891,144; Gross Margin 48.83%; YoY +29.00%; QoQ +2.40%
Operating Income: $2,513,000; Operating Margin 20.83%; YoY +21.44%; QoQ -16.04%
Net Income: $2,472,630; Net Margin 20.49%; YoY +19.65%; QoQ -8.32%
EPS (basic): $0.59; EPS (diluted): $0.47; YoY EPS % = 0.00%; QoQ -32.18%
EBITDA: $2,867,359; EBITDA Margin ~23.77%
Cash Flow: Operating Cash Flow $6,541,280; Free Cash Flow $6,142,527; Capex $398,753; Free Cash Flow Yield implied by FCF...
Financial Highlights
Revenue: $12,065,211; YoY +12.55%; QoQ -1.54%
Gross Profit: $5,891,144; Gross Margin 48.83%; YoY +29.00%; QoQ +2.40%
Operating Income: $2,513,000; Operating Margin 20.83%; YoY +21.44%; QoQ -16.04%
Net Income: $2,472,630; Net Margin 20.49%; YoY +19.65%; QoQ -8.32%
EPS (basic): $0.59; EPS (diluted): $0.47; YoY EPS % = 0.00%; QoQ -32.18%
EBITDA: $2,867,359; EBITDA Margin ~23.77%
Cash Flow: Operating Cash Flow $6,541,280; Free Cash Flow $6,142,527; Capex $398,753; Free Cash Flow Yield implied by FCF per share $1.475
Balance Sheet: Cash & cash equivalents $2,831,471; Short-term investments $28,131,279; Cash & short-term investments $30,962,750; Total current assets $48,769,281; Total assets $64,241,102; Total current liabilities $11,830,732; Total liabilities $12,994,417; Stockholders’ equity $51,246,686; Current ratio 4.12; Quick ratio 3.49; Inventory days 109.50; DSO 71.38 days; DIO 109.50 days; DPO 20.97 days; CCC 159.91 days.
Valuation Context: P/E 21.44x; P/B 4.14x; P/S 17.58x; EV/Revenue ~72.98x; P/FCF ~34.53x (based on available contemporaneous ratios).
Income Statement
| Metric |
Value |
YoY Change |
QoQ Change |
| Revenue |
12.07M |
12.55% |
-1.54% |
| Gross Profit |
5.89M |
29.00% |
2.40% |
| Operating Income |
2.51M |
21.44% |
-16.04% |
| Net Income |
2.47M |
19.65% |
-8.32% |
| EPS |
0.59 |
0.00% |
-32.18% |
Key Financial Ratios
operatingProfitMargin
20.8%
operatingCashFlowPerShare
$1.57
freeCashFlowPerShare
$1.48
Management Commentary
Note: The earnings transcript field is empty in the provided data, so no management quotes are available for QQ4 2024. As a result, there are no theme-based quotes to quote or attribute. The analysis below derives from the reported results and known product-market positioning.
Forward Guidance
No explicit forward guidance was provided in the dataset for QQ4 2024. Based on the results, potential catalysts include continued demand for seismic damping and shock-absorption solutions in aerospace/defense and industrial applications, as well as incremental opportunities in Fluidicshoks and other energy-absorption products. Investors should monitor: (1) order momentum and backlog development in defense/aerospace programs and energy infrastructure projects, (2) any signs of margin pressure from input costs or currency effects, (3) the pace of capital equipment investments that could influence medium-term demand, and (4) management commentary on capital allocation given the debt-free balance sheet and substantial cash position.