ESCO Technologies Inc. provides engineered components and systems for aviation, navy, defense, and industrial customers. The Aerospace & Defense segment designs and manufactures specialty filtration products, including hydraulic filter elements and fluid control devices used in commercial and defense aerospace applications; miniature electro-explosive devices for military aircraft ejection seats and missile arming devices; manufactures and sells mission-critical bushings, pins, sleeves, and precision-tolerance machined components for landing gear, rotor heads, engine mounts, flight controls, and actuation systems for the aerospace and defense industries; designs, develops and manufactures elastomeric-based signature reduction solutions for U.S. naval vessels; and provides mission-critical signature and power management solutions. The Utility Solutions Group segment develops, manufactures, and delivers diagnostic testing solutions; and designs and manufactures decision support tools for the renewable energy industry, primarily wind and solar. The RF Test & Measurement segment designs and manufactures products and systems to measure and control RF energy for research and development, regulatory compliance, and medical and security applications; and turnkey systems, such as RF test facilities and measurement systems, acoustic test enclosures, RF and magnetically shielded rooms, and secure communication facilities. This segment also supplies RF absorptive materials, filters, antennas, field probes, test cells, proprietary measurement software, and other test accessories; and offers calibration and product tests, feedthrough capacitors, high current power, telephone, data and control line filters, and high-altitude electromagnetic protection filters. It distributes its products through distributors, sales representatives, direct sales teams, and in-house sales personnel. The company was incorporated in 1990 and is based in Saint Louis, Missouri.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $1.1B | $245M | $299M | $190M | 19.4% | 19.2% | 193.7% |
| 2024 | $919M | $198M | $102M | $87M | 8.2% | 7.4% | 10.1% |
| 2023 | $856M | $167M | $93M | $47M | 8.2% | -0.2% | 12.4% |
| 2022 | $858M | $160M | $82M | $90M | 7.9% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 857.50 | 855.79 | 919.13 | 1,095.39 |
| Operating Revenue | - | 857.50 | 855.79 | 919.13 | 1,095.39 |
| Cost Of Revenue | - | 525.46 | 502.68 | 530.55 | 634.30 |
| Gross Profit | - | 332.04 | 353.11 | 388.57 | 461.08 |
| Operating Expense | - | 221.06 | 232.41 | 241.01 | 287.96 |
| Selling General And Administration | - | 195.13 | 203.46 | 208.20 | 234.64 |
| Total Expenses | - | 746.52 | 735.10 | 771.56 | 922.26 |
| Operating Income | - | 110.98 | 120.70 | 147.56 | 173.13 |
| EBITDA | - | 159.63 | 166.85 | 198.36 | 245.38 |
| Normalized EBITDA | - | 159.63 | 166.85 | 198.36 | 245.38 |
| EBIT | - | 111.29 | 119.14 | 146.20 | 170.36 |
| Interest Expense | - | 4.85 | 8.77 | 15.25 | 17.50 |
| Net Interest Income | - | -4.85 | -8.77 | -15.25 | -17.50 |
| Other Non Operating Income Expenses | - | 0.30 | -1.56 | -1.36 | -2.78 |
| Other Income Expense | - | 0.30 | -1.56 | -1.36 | -2.78 |
| Interest Expense Non Operating | - | 4.85 | 8.77 | 15.25 | 17.50 |
| Net Non Operating Interest Income Expense | - | -4.85 | -8.77 | -15.25 | -17.50 |
| Pretax Income | - | 106.44 | 110.37 | 130.95 | 152.85 |
| Tax Provision | - | 24.12 | 24.68 | 28.32 | 36.55 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | 0 | 0 |
| Net Income Continuous Operations | - | 82.32 | 85.68 | 102.63 | 116.30 |
| Net Income From Continuing And Discontinued Operation | - | 82.32 | 92.54 | 101.88 | 299.22 |
| Net Income From Continuing Operation Net Minority Interest | - | 82.32 | 85.68 | 102.63 | 116.30 |
| Net Income | - | 82.32 | 92.54 | 101.88 | 299.22 |
| Net Income Common Stockholders | - | 82.32 | 92.54 | 101.88 | 299.22 |
| Net Income Including Noncontrolling Interests | - | 82.32 | 92.54 | 101.88 | 299.22 |
| Normalized Income | - | 82.32 | 85.68 | 102.63 | 116.30 |
| Diluted NI Availto Com Stockholders | - | 82.32 | 92.54 | 101.88 | 299.22 |
| Basic Average Shares | - | 25.85 | 25.79 | 25.75 | 25.83 |
| Diluted Average Shares | - | 26.07 | 25.88 | 25.87 | 25.91 |
| Reconciled Depreciation | - | 48.34 | 47.71 | 52.16 | 75.02 |
| Reconciled Cost Of Revenue | - | 503.05 | 483.93 | 511.20 | 612.60 |
| Total Unusual Items | 0 | 0 | - | - | - |
| Total Unusual Items Excluding Goodwill | 0 | 0 | - | - | - |
| Net Income Discontinuous Operations | - | 0 | 6.86 | -0.75 | 182.92 |
| Special Income Charges | 0 | 0 | - | - | - |
| Depreciation Amortization Depletion Income Statement | - | 25.94 | 28.95 | 32.80 | 53.32 |
| Depreciation And Amortization In Income Statement | - | 25.94 | 28.95 | 32.80 | 53.32 |
| Amortization | - | 25.94 | 28.95 | 32.80 | 53.32 |
| Amortization Of Intangibles Income Statement | - | 25.94 | 28.95 | 32.80 | 53.32 |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| ESCO Technologies Inc.this co. | ESE | $7.6B | 25.28β discount | 4.91 | 19.4% | 31.35 |
| Enphase Energy, Inc. | ENPH | $9.0B | 52.36 | 8.29 | 15.8% | 33.63 |
| Vishay Intertechnology, Inc. | VSH | $8.7B | - | 4.15 | -0.4% | 31.93 |
| MaxLinear, Inc. | MXL | $8.4B | -61.72 | 18.67 | -30.2% | -97.97 |
| Plexus Corp. | PLXS | $7.6B |
| - |
| - |
| - |
| - |
| - |
| 44.01 |
| 5.23 |
| 11.9% |
| 26.92 |
| Clear Secure, Inc. | YOU | $7.3B | 66.70 | 40.97 | 61.4% | 33.05 |
| Ralliant Corporation | RAL | $7.0B | -5.72 | 4.28 | -74.8% | -7.39 |
| Paycom Software, Inc. | PAYC | $6.4B | 14.10 | 3.69 | 26.2% | 7.65 |
| ACM Research, Inc. | ACMR | $6.2B | 66.26 | 4.26 | 6.4% | 33.90 |
| Peer Median | - | 44.01 | 4.75 | 9.2% | 29.43 | |