LightPath Technologies vs M-tron Industries
LightPath Technologies reported revenue of $72 million in fiscal 2026, 1.3 times M-tron Industries' $54 million in fiscal 2025. LightPath Technologies' revenue grew 92.8% in its latest year, and M-tron Industries' grew 11.0%. LightPath Technologies had an operating margin of -27.4%, against 18.9% at M-tron Industries. Free cash flow was −$16 million at LightPath Technologies and $8 million at M-tron Industries. Their fiscal years end in different months (June 30 and December 31), so the periods don't line up exactly.
Side by side
| LightPath Technologies | M-tron Industries | |
|---|---|---|
| Latest fiscal year | FY2026, Jun 30, 2026 | FY2025, Dec 31, 2025 |
| Revenue | $72M | $54M |
| Revenue growth | 92.8% | 11.0% |
| Revenue growth a year, last 5 years | 13.2% | — |
| Gross margin | 36.0% | — |
| Operating margin | −27.4% | 18.9% |
| Net margin | −28.6% | 15.5% |
| Free cash flow | −$16M | $8M |
| Free cash flow margin | −23.0% | 14.9% |
| Return on capital | — | — |
| Net debt to EBITDA | — | — |
| Dividends and buybacks | $0M | $0M |
| Change in diluted share count | 30.6% | 11.9% |
| Last close | $7.06 | $60.34 |
| P/E at the last close | — | 22.2× |
| Insider trades, last 12 months | bought $1,746, sold $90.1 million | sold $204,229 |
| Piotroski F-score | — | — |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
LightPath TechnologiesM-tron Industries
Operating margin
Percent of revenue
LightPath TechnologiesM-tron Industries
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
LightPath TechnologiesM-tron Industries
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the LightPath Technologies and M-tron Industries pages.