TechPrecision Corporation
- Open
- 4.73
- Day high
- 4.75
- Day low
- 4.63
- Prev close
- 4.58
- Volume
- 71K
- Mkt cap
- $46M
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 6.0
- P/S
- 1.5
- Yield
- —
- Per share
- —
TechPrecision Corporation (TPCS) is a Industrials company listed on NASDAQ. The stock is up 44% over the past year.
TechPrecision Corporation (TPCS) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
TPCS earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Jun 22, 2026 | — | $-0.04 | — | $8M | — |
| Feb 17, 2026 | — | $-0.15 | — | $7M | — |
| Nov 13, 2025 | — | $0.08 | — | $9M | — |
| Aug 21, 2025 | — | $-0.06 | — | $7M | — |
| Apr 8, 2025 | — | $-0.08 | — | $9M | — |
| Jan 21, 2025 | — | $-0.06 | — | $8M | — |
| Nov 7, 2024 | — | $-0.16 | — | $9M | — |
| Sep 13, 2024 | — | $-0.59 | — | $8M | — |
| Feb 29, 2024 | — | $-0.10 | — | $8M | — |
| Nov 20, 2023 | — | $-0.06 | — | $8M | — |
| Aug 21, 2023 | — | $-0.06 | — | $7M | — |
| Jun 15, 2023 | — | $-0.12 | — | $8M | — |
TPCS insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Mar 10, 2026 | Schenker Walter Miltondirector | Grant | 12,228 | — |
| Mar 10, 2026 | Straus Robert Ddirector | Grant | 3,940 | — |
| Mar 10, 2026 | Straus Robert Ddirector | Grant | 12,228 | — |
| Mar 10, 2026 | LEVY ANDREW Adirector | Grant | 3,940 | — |
| Mar 10, 2026 | LEVY ANDREW Adirector | Grant | 12,228 | — |
| Mar 10, 2026 | Renuart Victor Eugenedirector | Grant | 5,978 | — |
| Mar 10, 2026 | Renuart Victor Eugenedirector | Grant | 12,228 | — |
| Mar 10, 2026 | Schenker Walter Miltondirector | Grant | 4,279 | — |
| Sep 30, 2025 | LEVY ANDREW Adirector | Grant | 10,000 | — |
| Sep 30, 2025 | Schenker Walter Miltondirector | Grant | 10,000 | — |
| Aug 8, 2025 | Shen Alexanderofficer: Chief Executive Officer | Option | 192,500 | $0.32 |
| Aug 8, 2025 | Shen Alexanderofficer: Chief Executive Officer | Tax | 17,086 | $5.49 |
| Apr 29, 2025 | Podgorski Phillip E.officer: Chief Financial Officer | Grant | 78,261 | — |
| Jan 28, 2025 | Schenker Walter Miltondirector | Grant | 13,720 | — |
| Jan 28, 2025 | LEVY ANDREW Adirector | Grant | 13,720 | — |
Source: TPCS SEC Form 4 filings, latest Mar 10, 2026. For informational purposes only — not investment advice.
See the full TPCS insider & 13F page →TechPrecision Corporation company profile
Overview
TechPrecision Corporation (NASDAQ:TPCS) is a specialized metal fabrication company founded in 1956 and headquartered in Westminster, Massachusetts. The company went public in December 2007 and operates through two primary subsidiaries: Ranor and Stadco. TechPrecision serves critical defense and aerospace markets by manufacturing precision-engineered metal components for submarines, military aircraft, naval vessels, and other defense applications. The company has faced significant operational and financial challenges in recent years, including equipment failures, cash flow difficulties, and management turnover, while working to maintain its position as a supplier to major defense contractors.
Business
TechPrecision operates in the specialized metal fabrication industry, focusing on precision manufacturing of large-scale structural components and systems. The company's core business involves custom fabrication and machining of complex metal parts that require extremely tight tolerances and specialized manufacturing capabilities. The company operates through two distinct subsidiaries that serve different market segments. Ranor, the more profitable division, specializes in manufacturing components for naval submarines and generates approximately 55% of total revenue. This subsidiary produces critical structural elements and systems that are integrated into submarine construction by major defense contractors like Newport News Shipbuilding and Electric Boat. Stadco, which accounts for roughly 45% of revenue, focuses on manufacturing components for military aircraft, particularly the F-15EX fighter jet and CH-53K helicopter programs. The metal fabrication industry requires substantial capital investment in specialized machinery, including electron beam welding equipment, precision machining centers, and large-scale fabrication tools. These components often take months or years to complete and must meet stringent quality standards required by defense contractors. The manufacturing process involves complex engineering, material procurement, production control, and final assembly services. TechPrecision's products are ultimately incorporated into some of the most advanced military platforms in the U.S. defense arsenal, requiring the company to maintain security clearances and adhere to strict quality and delivery requirements.
Revenue model
TechPrecision generates revenue primarily through long-term manufacturing contracts with defense contractors and government agencies. The company operates on a project-based model where it receives orders for specific components or systems, often with contract values ranging from hundreds of thousands to millions of dollars per project. Revenue is typically recognized over time as work progresses, with customers often providing advance payments or progress billings to help finance the manufacturing process. The company's paying customers are primarily major defense contractors such as Newport News Shipbuilding, Electric Boat (General Dynamics), Boeing, and Lockheed Martin, who in turn supply the U.S. Navy, Air Force, and other government agencies. These contractors award TechPrecision multi-year contracts to supply components for specific defense programs, providing relatively predictable revenue streams despite quarterly fluctuations. Several factors significantly impact TechPrecision's margins and profitability. Equipment reliability is crucial, as machine breakdowns can halt production and create unabsorbed overhead costs, which has been a persistent challenge particularly at the Stadco facility. Project pricing discipline is critical since the company has struggled with legacy contracts that were priced too aggressively, leading to losses when actual manufacturing costs exceeded estimates. Production efficiency directly affects margins, as the company must absorb substantial fixed costs for specialized equipment and skilled labor. Defense spending levels and program timing create external demand variability, while raw material costs and skilled labor availability in the precision manufacturing sector can pressure margins. The company's ability to maintain quality standards and security clearances is essential for retaining contracts, while competition from other specialized manufacturers can affect pricing power.
Competitive moat
TechPrecision operates in a niche market with several protective characteristics, though its competitive moat is moderately strong but fragile. The company benefits from high barriers to entry in precision defense manufacturing, including the substantial capital investment required for specialized equipment, the need for security clearances, and the lengthy qualification processes required by defense contractors. The complexity of manufacturing large-scale precision components for critical defense applications creates switching costs for customers, who prefer to work with proven suppliers rather than risk program delays or quality issues. However, TechPrecision's moat has been significantly weakened by operational execution problems. The company's recurring equipment failures, particularly at Stadco, have damaged customer relationships and created reliability concerns. The precision manufacturing industry has several established competitors with stronger balance sheets and more consistent operational track records, including larger defense contractors who could potentially bring similar capabilities in-house or work with more reliable suppliers. The company's customer concentration risk also limits its moat strength, as it depends heavily on a small number of major defense programs. While these programs can span decades, they are subject to government budget decisions and program changes beyond TechPrecision's control. The company's financial distress has further eroded its competitive position, as customers may be reluctant to rely on a supplier with cash flow problems and management instability. Without significant operational improvements and financial stabilization, TechPrecision's moat could continue to weaken as customers seek more reliable alternatives.
Risks & safety
TechPrecision presents significant financial risk with minimal margin of safety for investors. • Liquidity Crisis: Cash position of only $165,000 as of Q3 2025, with negative free cash flow of $1.7 million and current ratio of 0.89, indicating inability to meet short-term obligations • High Debt Burden: Debt-to-equity ratio of 1.47 with total debt of approximately $7.5 million and covenant violations reported • Operational Losses: Negative EBITDA in recent quarters, with operating losses driven by equipment problems and cost overruns • Valuation Concerns: Trading at 4.3x book value despite negative returns, with extremely high EV/EBITDA ratios when positive • Going Concern Risk: Working capital deficit and debt covenant violations raise questions about the company's ability to continue operations without additional financing • Management Instability: Recent board changes, CFO resignation, and proxy contest indicate governance issues that could further destabilize operations
Recent development
Over the past few years, TechPrecision has undergone significant strategic and operational changes while struggling with persistent execution challenges. The company acquired Stadco in August 2021 to expand its presence in military aircraft manufacturing, adding capabilities in components for the F-15EX and CH-53K programs. However, this acquisition has proven problematic, with Stadco consistently generating operating losses due to equipment reliability issues, legacy pricing problems, and higher-than-expected manufacturing costs. The company has focused heavily on operational turnaround efforts, particularly at Stadco, where management has worked to improve electron beam welding capabilities, achieving improvements in on-time delivery from 25% to 100% and increasing throughput by 800% in some processes. Despite these improvements, Stadco continues to struggle with profitability due to unabsorbed overhead costs and equipment breakdowns that disrupt production schedules. Leadership and governance changes have been a major theme, with a new Board of Directors elected in December 2024, including General Gene Renoir as Board Chair and Rob Straus as Vice Chair. The CFO Richard Roomberg resigned in February 2025, and the company faced a proxy contest, indicating shareholder dissatisfaction with performance. Management has emphasized renewed focus on transparency, cash management, and addressing operational challenges while maintaining defense industry partnerships. The company has also secured supplier development funding from major customers like Newport News Shipbuilding to add manufacturing capacity and backup capabilities, particularly at the Ranor subsidiary.
TPCS company profile · for informational purposes only — not investment advice.
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