A Business at a Glance
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VirTra, Inc
VTSI
$36M
Mkt Cap
$3.17
+1.28%
VirTra, Inc (VTSI) has a 5-year average return on invested capital (ROIC) of 35.8%. This indicates strong capital allocation and a potential competitive advantage.
VirTra, Inc (VTSI) has a market capitalization of $36M. It is classified as a small-cap stock.
VirTra, Inc (VTSI) does not currently pay a regular dividend.
VirTra, Inc (VTSI) operates in the Miscellaneous Manufacturing Industries industry, within the Consumer Cyclical sector.
VirTra, Inc (VTSI) reported annual revenue of $26 million in its most recent fiscal year, based on SEC EDGAR filings.
VirTra, Inc (VTSI) has a net profit margin of 5.2%. This is a modest margin.
VirTra, Inc (VTSI) generated $-588 thousand in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
ITEM 1. BUSINESS. Our Corporate History We are a corporation organized and existing under the laws of the State of Nevada. The original business started in 1993 as Ferris Productions, Inc. In September 2001, Ferris Productions, Inc. merged with GameCom, Inc. to ultimately become VirTra Systems, Inc., a Texas corporation. Effective as of October 1, 2016, we completed a conversion from a Texas corporation to a Nevada corporation pursuant to a Redomestication Plan of Conversion (the “Plan of Conversion”) that was approved by our Board of Directors on June 23, 2016, and by our stockholders on September 16, 2016. As part of the Plan of Conversion, we filed Articles of Incorporation in Nevada whereby we changed our name from VirTra Systems, Inc. to VirTra, Inc. and revised our capitalization. Our Articles of Incorporation filed in Nevada authorize us to issue 62,500,000 shares, of which (1) 60,000,000 shares shall be common stock, par value $0.
| Metric | TTM | FY2024 | FY2023 | FY2022 | FY2017 |
|---|---|---|---|---|---|
| Revenue | 24M | 26M | 39M | 28M | 17M |
| Net Income | -586K | 1.4M | 9.2M | 2.0M | 3.3M |
| EPS | $-0.06 | $0.12 | $0.85 | $0.18 | $0.39 |
| Free Cash Flow | 3.6M | -588K | 5.6M | -5.9M | 2.5M |
| ROIC | 1.6% | 3.6% | 26.8% | 7.1% | 105.9% |
| Gross Margin | 68.0% | 73.7% | 70.7% | 57.4% | 61.9% |
| Debt/Equity | 0.00 | 0.17 | 0.18 | 0.24 | 0.00 |
| Dividends/Share | $0.00 | - | - | - | - |
| Operating Income | 543K | 2.0M | 10M | 2.6M | 1.3M |
| Operating Margin | 2.2% | 7.6% | 26.8% | 9.2% | 7.9% |
| ROE | -1.3% | 3.1% | 21.1% | 5.8% | 38.8% |
| Shares Outstanding | 11M | 11M | 11M | 11M | 8M |
| Metric | |||||
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | 17M | 28M | 39M | 26M | 24M |
| Gross Margin | 61.9% | 57.4% | 70.7% | 73.7% | 68.0% |
| R&D | N/A | N/A | N/A | N/A | N/A |
| SG&A | N/A | N/A | N/A | N/A | N/A |
| EBIT | 1.3M | 2.6M | 10M | 2.0M | 543K |
| Op. Margin | 7.9% | 9.2% | 26.8% | 7.6% | 2.2% |
| Net Income | 3.3M | 2.0M | 9.2M | 1.4M | -586K |
| Net Margin | 19.7% | 6.9% | 23.6% | 5.2% | -2.4% |
| Non-Recurring | 613K | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||
| ROIC | 105.9% | 7.1% | 26.8% | 3.6% | 1.6% |
| ROE | 38.8% | 5.8% | 21.1% | 3.1% | -1.3% |
| ROA | 26.3% | 3.6% | 13.0% | 2.0% | -0.9% |
| Cash Flow | |||||
| Op. Cash Flow | 2.7M | -2.7M | 6.7M | 1.3M | 4.7M |
| Free Cash Flow | 2.5M | -5.9M | 5.6M | -588K | 3.6M |
| Owner Earnings | 2.2M | -4.0M | 5.7M | -657K | 2.8M |
| CapEx | 134K | 3.2M | 1.1M | 1.8M | 1.1M |
| Maint. CapEx | 271K | 887K | 929K | 1.1M | 1.1M |
| Growth CapEx | 0 | 2.3M | 200K | 709K | 0 |
| D&A | 271K | 887K | 929K | 1.1M | 1.1M |
| CapEx/OCF | 5.0% | N/A | 16.9% | 146.8% | 22.5% |
| Capital Allocation | |||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 245K | 0 | 0 | 0 | 0 |
| Buyback Yield | 0.5% | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | 167K | 456K | 75K | 777K | 777K |
| Debt Repayment | 11K | 231K | 243K | 241K | 241K |
| Balance Sheet | |||||
| Net Debt | -5.1M | -5.4M | -11M | -10M | -21M |
| Cash & Equiv. | N/A | N/A | N/A | N/A | 21M |
| Long-Term Debt | 11K | 8.1M | 7.8M | 7.6M | 7.6M |
| Debt/Equity | 0.00 | 0.24 | 0.18 | 0.17 | 0.00 |
| Interest Coverage | N/A | 20.2 | 41.8 | 8.3 | 8.3 |
| Equity | 10M | 34M | 43M | 46M | 47M |
| Total Assets | 15M | 54M | 70M | 65M | 66M |
| Total Liabilities | 4.5M | 20M | 27M | 20M | 19M |
| Intangibles | N/A | N/A | N/A | N/A | N/A |
| Retained Earnings | -4.5M | 2.3M | 11M | 13M | 13M |
| Working Capital | 5.7M | 24M | 34M | 35M | 35M |
| Current Assets | 10M | 34M | 50M | 44M | 44M |
| Current Liabilities | 4.4M | 9.8M | 16M | 9.6M | 9.6M |
| Per Share Data | |||||
| EPS | 0.39 | 0.18 | 0.85 | 0.12 | -0.06 |
| Owner EPS | 0.26 | -0.37 | 0.53 | -0.06 | 0.24 |
| Book Value | 1.24 | 3.10 | 4.03 | 4.02 | 4.14 |
| Cash Flow/Share | 0.32 | -0.25 | 0.62 | 0.11 | 0.05 |
| Dividends/Share | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 8.4M | 10.9M | 10.8M | 11.4M | 11.3M |
| Valuation | |||||
| P/E Ratio | 13.8 | 23.6 | 10.8 | 55.2 | -52.9 |
| P/FCF | 17.9 | N/A | 17.7 | N/A | 9.9 |
| EV/EBIT | 30.7 | 15.7 | 8.4 | 32.4 | 27.8 |
| Price/Book | 4.3 | 1.4 | 2.3 | 1.6 | 0.8 |
| Price/Sales | 2.4 | 2.1 | 1.7 | 3.9 | 1.5 |
| FCF Yield | 5.6% | -12.8% | 5.6% | -0.8% | 10.1% |
| Market Cap | 45M | 46M | 98M | 75M | 36M |
| Avg. Price | 4.74 | 5.38 | 6.09 | 9.04 | 3.17 |
| Year-End Price | 5.40 | 4.24 | 9.14 | 6.62 | 3.17 |
VirTra, Inc passes 6 of 9 quality checks, suggesting mixed fundamentals.
On a free-cash-flow basis, the stock trades at 9.9x vs a median of 17.8x. The company's 5-year average ROIC is 35.8% with a gross margin of 65.9%. At current prices, the estimated annualized return to fair value is +20.1%.
VirTra, Inc (VTSI) has a debt-to-equity ratio of 0.17. This indicates a conservatively financed balance sheet.
VirTra, Inc (VTSI) reported earnings per share (EPS) of $0.12 in its most recent fiscal year.
VirTra, Inc (VTSI) has a return on equity (ROE) of 3.1%. This indicates moderate shareholder returns.
VirTra, Inc (VTSI) has a 5-year average gross margin of 65.9%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 4 years of financial data for VirTra, Inc (VTSI), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
VirTra, Inc (VTSI) has a book value per share of $4.02, based on its most recent annual SEC filing.