Byrna Technologies Inc

The company maintains a strong liquidity position, with $24.79 million in cash and equivalents and no long-term debt, resulting in a debt-to-equity ratio of 0.00 and a current ratio of 3.91. Its liquidity_fpt score is high, indicating minimal short-term financial stress. The price-to-book ratio of 2.59 and price-to-tangible-book ratio of 2.59 suggest the market is valuing the company at a premium to its book value, consistent with its growth profile and limited debt. Profitability metrics show a return on equity (ROE) of 4.58% and return on assets (ROA) of 3.61%, which are below the typical thresholds for high-margin industrial goods firms. However, the company's gross profit margin of 61.8% (calculated from $12.56 million gross profit on $20.27 million revenue) is strong, indicating efficient cost control. Operating income of $1.91 million and net income of $2.08 million reflect solid operational performance, though the company's scale remains modest. Geographically, Byrna's revenue is concentrated in the United States, with no material international operations disclosed. The company operates in a single business segment focused on personal defense devices, with no diversification into other product lines or markets. Looking ahead, the company is projected to grow revenue by 25% in the current fiscal year and 30% in the next, driven by expanding distribution and product line extensions. Free cash flow of $1.96 million and operating cash flow of $5.88 million support reinvestment and potential shareholder returns. Risk factors include the absence of long-term debt, which reduces financial leverage risk, and no immediate dilution pressure, as shares outstanding remain unchanged between basic and diluted counts. The company has no recent filings indicating capital-raising activity or dilutive events. Recent events include a strong analyst outlook, with a mean price target of $13.95 and a median of $13.75, suggesting significant upside potential from the current market price of $5.18. The company has not issued new shares in the past 12 months, and no material regulatory or litigation risks were identified in the latest filings.