Optex Systems Holdings, Inc (OPXS) Key Metrics
OPXS valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $68.3M
- Enterprise value
- $68.0M
- P/E (TTM)
- 17.9 10-yr median 11.5
- Forward P/E
- —
- PEG ratio
- —
- Price / sales
- 1.7 10-yr median 0.8
- Price / book
- 2.6 10-yr median 1.5
- EV / EBITDA
- 11.9 10-yr median 9.7
- Dividend yield
- —
- Beta
- 0.57
OPXS key metrics, FY2016–FY2025
Fiscal year ended September 30, 2025 · U.S. dollarsOPXS valuation Price multiples at each fiscal year-end price.
P/E ratio+24.3%
17.3
FY2025 · hover or tap a bar for each year
FY2016FY2025
Price / sales+39.7%
2.2
FY2025 · hover or tap a bar for each year
FY2016FY2025
Price / book+31.5%
3.7
FY2025 · hover or tap a bar for each year
FY2016FY2025
EV / EBITDA+19.2%
12.3
FY2025 · hover or tap a bar for each year
FY2016FY2025
Price / free cash flow
13.9
FY2025 · hover or tap a bar for each year
FY2016FY2025
Free cash flow yield+7.1 pts
7.2%
FY2025 · hover or tap a bar for each year
FY2016FY2025
OPXS returns How much profit the business earns on the capital it uses.
Return on equity+1.5 pts
23.9%
FY2025 · hover or tap a bar for each year
FY2016FY2025
Return on invested capital+8.6 pts
28.2%
FY2025 · hover or tap a bar for each year
FY2016FY2025
Return on assets+2.7 pts
18.5%
FY2025 · hover or tap a bar for each year
FY2016FY2025
Free cash flow margin+15.4 pts
15.5%
FY2025 · hover or tap a bar for each year
FY2016FY2025
Cash conversion (OCF / net income)+184.9%
1.35
FY2025 · hover or tap a bar for each year
FY2016FY2025
Asset turnover+4.4%
1.49
FY2025 · hover or tap a bar for each year
FY2016FY2025
OPXS per-share figures Results divided by the shares outstanding at year-end.
Revenue per share+21.0%
$5.97
FY2025 · hover or tap a bar for each year
FY2016FY2025
Earnings per share+35.9%
$0.74
FY2025 · hover or tap a bar for each year
FY2016FY2025
Free cash flow per share+12,687.6%
$0.93
FY2025 · hover or tap a bar for each year
FY2016FY2025
Book value per share+28.5%
$3.51
FY2025 · hover or tap a bar for each year
FY2016FY2025
Shares outstanding+0.5%
6.9M
FY2025 · hover or tap a bar for each year
FY2016FY2025
OPXS financial health Debt, liquidity and how easily interest is covered.
Debt / equity−57.8%
0.08
FY2025 · hover or tap a bar for each year
FY2016FY2025
Net debt−$6.9M
−$4.5M
FY2025 · hover or tap a bar for each year
FY2016FY2025
Net debt / EBITDA−1.11
−0.66
FY2025 · hover or tap a bar for each year
FY2016FY2025
Current ratio+39.0%
5.64
FY2025 · hover or tap a bar for each year
FY2016FY2025
Interest coverage−99.7%
0.3
FY2025 · hover or tap a bar for each year
FY2016FY2025
Debt / assets−53.8%
0.06
FY2025 · hover or tap a bar for each year
FY2016FY2025
OPXS efficiency & capital use Working capital cycle and where the cash goes.
Days sales outstanding−4 days
38 days
FY2025 · hover or tap a bar for each year
FY2016FY2025
Days of inventory−20 days
182 days
FY2025 · hover or tap a bar for each year
FY2016FY2025
Days payables outstanding+2 days
17 days
FY2025 · hover or tap a bar for each year
FY2016FY2025
Cash conversion cycle−26 days
203 days
FY2025 · hover or tap a bar for each year
FY2016FY2025
Capex / revenue−3.9 pts
1.2%
FY2025 · hover or tap a bar for each year
FY2016FY2025
OPXS valuation history
Fiscal year-endToday10-year median
OPXS returns on capital
ROEROICROA
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
OPXS debt vs cash
Total debtCash & short-term investments
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
OPXS cash returned to shareholders
DividendsBuybacksFree cash flow
OPXS price vs earnings per share
Share price at year-endEPS (right axis)
OPXS key metrics
FY2016–FY2025| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $89.3M | $52.6M | $27.6M | $20.9M | $16.4M | $15.9M | $13.6M | $15.0M | $7.9M | $1.2M |
| Enterprise value | $84.7M | $54.9M | $30.3M | $23.3M | $16.2M | $13.0M | $12.8M | $14.2M | $6.5M | −$1.1M |
| P/E ratio | 17.3 | 13.9 | 12.2 | 16.3 | 7.7 | 8.7 | 2.4 | 10.8 | — | — |
| Price / sales | 2.2 | 1.5 | 1.1 | 0.9 | 0.9 | 0.6 | 0.6 | 0.7 | 0.4 | 0.1 |
| Price / book | 3.7 | 2.8 | 1.9 | 1.7 | 1.0 | 1.1 | 1.1 | 2.4 | 1.3 | 0.1 |
| Price / free cash flow | 13.9 | — | — | 11.7 | 79.2 | 4.2 | 799.3 | 17.2 | — | 8.7 |
| Price / operating cash flow | 12.9 | 29.5 | — | 10.2 | 34.1 | 4.1 | 84.9 | 14.5 | 490.7 | 7.0 |
| EV / sales | 2.0 | 1.6 | 1.2 | 1.0 | 0.9 | 0.5 | 0.5 | 0.7 | 0.3 | -0.1 |
| EV / EBITDA | 12.3 | 10.4 | 9.7 | 11.9 | 7.0 | 5.0 | 2.6 | 7.4 | 124.4 | — |
| EV / free cash flow | 13.2 | — | — | 13.1 | 78.1 | 3.5 | 751.2 | 16.3 | — | — |
| Earnings yield | 5.8% | 7.2% | 8.2% | 6.1% | 13.0% | 11.5% | 41.7% | 9.3% | −3.9% | −19.8% |
| Free cash flow yield | 7.2% | 0.1% | −2.4% | 8.6% | 1.3% | 23.7% | 0.1% | 5.8% | −1.7% | 11.5% |
| Dividend yield | — | — | — | — | 1.7% | — | 0.0% | 5.2% | 3.3% | 21.9% |
| Shareholder yield (dividends + buybacks) | — | 0.5% | 0.2% | 22.7% | 7.0% | 1.3% | 0.0% | 9.9% | 9.9% | 168.9% |
| Share price at fiscal year-end | $12.89 | $7.63 | $4.16 | $2.54 | $1.97 | $1.85 | $1.60 | $1.71 | $0.98 | $0.77 |
| Per share | ||||||||||
| Revenue per share | $5.97 | $4.94 | $3.86 | $2.72 | $2.19 | $3.01 | $2.89 | $2.37 | $2.32 | $11.17 |
| Earnings per share | $0.74 | $0.55 | $0.34 | $0.16 | $0.26 | $0.21 | $0.67 | $0.16 | −$0.04 | −$0.15 |
| Operating cash flow per share | $1.00 | $0.26 | −$0.04 | $0.25 | $0.06 | $0.46 | $0.02 | $0.12 | $0.00 | $0.11 |
| Free cash flow per share | $0.93 | $0.01 | −$0.10 | $0.22 | $0.02 | $0.44 | $0.00 | $0.10 | −$0.02 | $0.09 |
| Cash per share | $0.92 | $0.15 | $0.18 | $0.11 | $0.47 | $0.55 | $0.13 | $0.13 | $0.21 | $1.66 |
| Book value per share | $3.51 | $2.73 | $2.23 | $1.51 | $1.89 | $1.63 | $1.44 | $0.72 | $0.74 | $6.70 |
| Tangible book value per share | $3.51 | −$135.33 | $2.23 | $1.51 | $1.89 | $1.63 | $1.44 | $0.72 | $0.74 | $6.70 |
| Dividends per share | — | — | — | — | $0.03 | — | $0.00 | $0.09 | $0.03 | $0.17 |
| Capex per share | $0.07 | $0.25 | $0.06 | $0.03 | $0.03 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 |
| Debt per share | $0.27 | $0.49 | $0.59 | $0.41 | $0.44 | $0.21 | $0.03 | $0.03 | $0.04 | $0.19 |
| Shares outstanding | 6.9M | 6.9M | 6.7M | 8.2M | 8.3M | 8.6M | 8.5M | 8.8M | 8.0M | 1.5M |
| Change in shares outstanding | +0.5% | +3.5% | −19.0% | −1.3% | −3.1% | +1.1% | −3.4% | +10.0% | +416.9% | — |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 23.9% | 22.4% | 16.6% | 9.1% | 14.4% | 13.9% | 61.1% | 22.7% | −3.7% | −2.5% |
| Return on invested capital (ROIC) | 28.2% | 19.6% | 14.3% | 8.5% | −3.7% | 19.9% | 37.8% | 26.3% | 2.5% | −1.9% |
| Return on assets (ROA) | 18.5% | 15.8% | 11.1% | 6.5% | 10.3% | 9.6% | 37.5% | 10.4% | −2.3% | −1.9% |
| Return on tangible assets | 17.1% | — | 10.2% | 6.9% | 10.2% | 9.0% | 32.3% | 11.0% | −2.2% | −1.8% |
| Free cash flow margin | 15.5% | 0.1% | −2.6% | 8.0% | 1.1% | 14.5% | 0.1% | 4.2% | −0.7% | 0.8% |
| Income quality (OCF / net income) | 1.35 | 0.47 | −0.13 | 1.59 | 0.23 | 2.14 | 0.03 | 0.75 | — | — |
| Financial health | ||||||||||
| Total debt | $1.9M | $3.4M | $3.9M | $3.4M | $3.7M | $1.8M | $250,000 | $300,000 | $300,000 | $300,000 |
| Cash & short-term investments | $6.4M | $1.0M | $1.2M | $934,000 | $3.9M | $4.7M | $1.1M | $1.1M | $1.7M | $2.6M |
| Net debt | −$4.5M | $2.4M | $2.7M | $2.4M | −$239,000 | −$2.9M | −$818,000 | −$833,000 | −$1.4M | −$2.3M |
| Debt / equity | 0.08 | 0.18 | 0.26 | 0.27 | 0.23 | 0.13 | 0.02 | 0.05 | 0.05 | 0.03 |
| Debt / assets | 0.06 | 0.13 | 0.18 | 0.18 | 0.18 | 0.09 | 0.01 | 0.02 | 0.02 | 0.02 |
| Net debt / EBITDA | −0.66 | 0.45 | 0.86 | 1.24 | −0.10 | −1.09 | −0.17 | −0.44 | −26.58 | −15.64 |
| Current ratio | 5.64 | 4.05 | 4.30 | 3.97 | 7.43 | 3.36 | 4.53 | 3.99 | 2.79 | 4.58 |
| Quick ratio | 2.50 | 1.05 | 1.32 | 1.24 | 3.66 | 1.59 | 1.35 | 1.30 | 1.09 | 1.99 |
| Interest coverage | 0.3 | 102.6 | 50.7 | 205.9 | -44.9 | 151.7 | 139.0 | 74.3 | 10.7 | -5.6 |
| Working capital | $21.1M | $15.1M | $13.5M | $10.0M | $12.9M | $11.7M | $11.7M | $8.5M | $8.0M | $8.6M |
| Invested capital | $19.8M | $21.2M | $17.6M | $14.8M | $15.5M | $11.1M | $11.4M | $5.5M | $4.6M | $8.1M |
| Tangible asset value | $24.3M | −$932.2M | $14.9M | $12.4M | $15.7M | $14.0M | $12.2M | $6.3M | $5.9M | $10.4M |
| Net current asset value | $19.9M | $13.4M | $10.2M | $7.3M | $9.8M | $10.3M | $9.7M | $5.0M | $4.4M | $8.6M |
| Graham number | $7.66 | $5.80 | $4.13 | $2.30 | $3.30 | $2.79 | $4.65 | $1.60 | — | — |
| Graham net-net per share | $1.63 | $0.68 | $0.43 | $0.19 | $0.59 | $0.58 | $0.39 | $0.05 | −$0.03 | $3.13 |
| Capital allocation | ||||||||||
| Dividends paid | — | — | — | — | $283,000 | — | $0 | $784,000 | $261,000 | $261,000 |
| Share buybacks (net) | — | $245,000 | $58,000 | $4.7M | $869,000 | $200,000 | $0 | $700,000 | $518,000 | $1.8M |
| Dividend payout ratio | — | — | — | — | 13.3% | — | 0.0% | 56.2% | — | — |
| Dividends + buybacks / free cash flow | — | 490.0% | — | 265.1% | 556.5% | 5.3% | 0.0% | 170.2% | — | — |
| Capex / revenue | 1.2% | 5.1% | 1.5% | 1.1% | 1.5% | 0.6% | 0.6% | 0.8% | 0.8% | 0.2% |
| Capex / operating cash flow | 7.3% | 97.2% | — | 12.6% | 57.0% | 3.9% | 89.4% | 16.1% | 931.2% | 19.9% |
| Capex / depreciation | 0.98 | 3.55 | 1.09 | 0.84 | 1.04 | 0.61 | 0.42 | 0.51 | 0.44 | 0.10 |
| Stock-based compensation / revenue | 0.9% | 1.3% | 1.0% | 0.7% | 1.3% | 0.8% | 0.5% | 0.7% | 1.2% | 1.1% |
| SG&A / revenue | 11.9% | 13.8% | 14.9% | 14.5% | 16.5% | 12.4% | 12.5% | 14.5% | 17,307.4% | 18.8% |
| Efficiency | ||||||||||
| Days sales outstanding | 38.4 | 42.6 | 48.8 | 49.7 | 61.5 | 42.4 | 41.1 | 48.9 | 51.4 | 52.4 |
| Days of inventory on hand | 181.9 | 201.5 | 204.8 | 175.3 | 190.3 | 178.1 | 181.5 | 170.4 | 166.8 | 153.0 |
| Days payables outstanding | 16.8 | 14.8 | 14.5 | 13.1 | 16.1 | 24.6 | 27.7 | 25.7 | 24.9 | 16.4 |
| Cash conversion cycle (days) | 203.4 | 229.3 | 239.1 | 211.8 | 235.7 | 196.0 | 194.9 | 193.5 | 193.2 | 189.0 |
| Receivables turnover | 9.51 | 8.56 | 7.47 | 7.35 | 5.94 | 8.60 | 8.88 | 7.47 | 7.11 | 6.97 |
| Payables turnover | 21.67 | 24.63 | 25.12 | 27.82 | 22.69 | 14.86 | 13.17 | 14.18 | 14.64 | 22.21 |
| Inventory turnover | 2.01 | 1.81 | 1.78 | 2.08 | 1.92 | 2.05 | 2.01 | 2.14 | 2.19 | 2.39 |
| Asset turnover | 1.49 | 1.42 | 1.26 | 1.14 | 0.88 | 1.37 | 1.62 | 1.56 | 1.38 | 1.42 |
| Average receivables | $4.3M | $4.0M | $3.4M | $3.0M | $3.1M | $3.0M | $2.8M | $2.8M | $2.6M | $2.5M |
| Average payables | $1.4M | $993,500 | $758,000 | $628,500 | $692,000 | $1.3M | $1.4M | $1.2M | $1.0M | $640,500 |
| Average inventory | $14.6M | $13.5M | $10.7M | $8.4M | $8.2M | $9.7M | $9.1M | $7.6M | $6.9M | $6.0M |
| Intangibles / total assets | 0.0% | 3,726.8% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Computed from OPXS's annual financial statements (latest annual report filed December 17, 2025) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
OPXS valuation and financial ratios
At the end of fiscal 2025 (September 30, 2025), Optex Systems traded at 17.3 times earnings, against a 10-year median of 11.5. Based on the latest twelve months, the trailing P/E is 17.9. Optex Systems earned a return on equity of 23.9% and a return on invested capital of 28.2% in fiscal 2025. It ended the year with $1.9 million of debt and $6.4 million in cash and short-term investments, a net cash position of $4.5 million. The share count rose 347.6% from 1.5M to 6.9M over 9 years.
See the OPXS income statement, the OPXS chart for price history, or the OPXS stock overview for the latest quote and news.
OPXS key metrics FAQ
What is Optex Systems's P/E ratio?
Optex Systems's trailing P/E ratio is 17.9 based on the last twelve months of earnings (as of October 18, 2026). At the end of fiscal 2025 it was 17.3, compared with a 10-year median of 11.5.
What is Optex Systems's EV/EBITDA?
Optex Systems's enterprise value was 12.3 times EBITDA at the end of fiscal 2025 (enterprise value $84.7 million, EBITDA $6.9 million); the current EV/EBITDA is 11.9.
What is Optex Systems's return on equity?
Optex Systems's return on equity (ROE) was 23.9% in fiscal 2025: net income of $5.1 million on average shareholders' equity of $21.5 million.
What is Optex Systems's ROIC?
Optex Systems's return on invested capital was 28.2% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Optex Systems have?
Optex Systems had total debt of $1.9 million at the end of fiscal 2025, a debt-to-equity ratio of 0.08 and more cash than debt.
What is Optex Systems's free cash flow yield?
Optex Systems generated $6.4 million of free cash flow in fiscal 2025, a free cash flow yield of 7.2% on its market value at year-end ($89.3 million).
What is Optex Systems's current ratio?
Optex Systems's current ratio was 5.64 at the end of fiscal 2025: current assets were 5.64 times current liabilities.