$ESP

ESPEY MANUFACTURING & ELECTRONICS CORP

CIK:0000033533|SEC Filings

Statements of Comprehensive Income - USD ($)	12 Months Ended
Statements of Comprehensive Income - USD ($)	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Net sales	$ 46,124,325	$ 43,950,872
Cost of sales	29,840,192	31,266,241
Gross profit	16,284,133	12,684,631
Selling, general and administrative expenses	4,689,449	4,557,945
Operating income	11,594,684	8,126,686
Other income
Interest income	1,702,825	1,259,852
Other	17,827	342,126
Total other income	1,720,652	1,601,978
Income before provision for income taxes	13,315,336	9,728,664
Provision for income taxes	2,135,577	1,585,710
Net income	11,179,759	8,142,954
Other comprehensive income, net of tax:
Unrealized gain on investment securities	1,724	5,052
Total comprehensive income	$ 11,181,483	$ 8,148,006
Net income per share:
Basic (in Dollars per share)	$ 4.04	$ 3.14
Diluted (in Dollars per share)	$ 3.89	$ 3.02
Weighted average number of shares outstanding:
Basic (in Shares)	2,770,292	2,591,036
Diluted (in Shares)	2,871,414	2,696,192

Statements of Cash Flows - USD ($)	12 Months Ended
Statements of Cash Flows - USD ($)	Jun. 30, 2026	Jun. 30, 2025
Cash Flows from Operating Activities:
Net income	$ 11,179,759	$ 8,142,954
Adjustments to reconcile net income to net cash provided by operating activities:
Stock-based compensation	213,688	346,281
Depreciation	512,341	451,523
ESOP compensation expense	1,084,057	622,472
Deferred income tax benefit	(136,839)	(306,865)
Loss on sale of property, plant and equipment	20,802
Changes in assets and liabilities:
Increase in trade accounts receivable	(1,361,111)	(963,398)
Increase in income taxes receivable	(443,861)
(Increase) Decrease in inventories	(8,126,359)	1,401,960
Increase in prepaid expenses and other current assets	(5,564,211)	(1,702,160)
Increase (Decrease) in accounts payable	807,462	(1,109,633)
Increase in accrued salaries and wages	125,255	257,224
(Decrease) Increase in vacation accrual	(31,104)	56,934
Decrease other accrued expenses	(311,002)	(163,399)
(Decrease) Increase in payroll and other taxes withheld	(92,625)	36,594
Increase in contract liabilities	8,112,782	13,842,982
(Decrease) Increase in income taxes payable	(298,510)	77,903
Net cash provided by operating activities	5,690,524	20,991,372
Cash Flows from Investing Activities:
Additions to property, plant and equipment	(3,108,908)	(4,365,403)
Proceeds from grant award	2,029,608	3,260,000
Proceeds from sale of property, plant and equipment	5,500
Purchase of investment securities	(36,704,748)	(33,873,762)
Proceeds from sale/maturity of investment securities	35,417,000	28,040,200
Net cash used in investing activities	(2,361,548)	(6,938,965)
Cash Flows from Financing Activities:
Dividends paid on common stock	(4,831,873)	(2,597,354)
Proceeds from exercise of stock options	2,077,218	3,055,622
Net cash (used in) provided by financing activities	(2,754,655)	458,268
Increase in cash and cash equivalents	574,321	14,510,675
Cash and cash equivalents, beginning of the year	18,862,645	4,351,970
Cash and cash equivalents, end of the year	19,436,966	18,862,645
Supplemental Schedule of Cash Flow Information:
Income taxes paid, net of refunds	$ 3,015,577	$ 1,815,732

Balance Sheets - USD ($)	Jun. 30, 2026	Jun. 30, 2025
ASSETS
Cash and cash equivalents	$ 19,436,966	$ 18,862,645
Investment Securities	26,006,718	24,717,245
Trade accounts receivable, less allowance for credit losses of $3,000	8,959,999	7,598,888
Income tax receivable	443,861
Inventories:
Raw materials	2,450,892	2,120,462
Work-in-process	767,381	681,334
Costs related to contracts in process	22,750,135	15,040,253
Total inventories	25,968,408	17,842,049
Prepaid expenses and other current assets	10,497,773	4,933,562
Total current assets	91,313,725	73,954,389
Deferred tax asset	1,338,858	1,202,019
Property, plant and equipment, net	4,500,814	3,960,156
Total assets	97,153,397	79,116,564
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable	3,449,040	2,641,576
Accrued expenses:
Salaries and wages	1,310,642	1,185,387
Vacation	536,974	568,078
Other	283,151	594,153
Payroll and other taxes withheld	831	93,456
Contract liabilities	30,999,186	22,886,404
Income taxes payable		298,510
Total current liabilities	36,579,824	28,267,564
Total liabilities	36,579,824	28,267,564
Commitments and Contingencies (See Note 13)
Common stock, par value $.33-1/3 per share Authorized 10,000,000 shares; Issued 3,129,874 shares as of June 30, 2026 and 2025. Outstanding 3,007,672 and 2,896,368 shares as of June 30, 2026 and 2025, respectively (Includes 168,636 and 189,817 Unearned ESOP Shares, respectively)	1,043,291	1,043,291
Capital in excess of par value	27,354,936	26,331,842
Accumulated other comprehensive gain	13,320	11,596
Retained earnings	37,898,276	31,550,390
Total	66,309,823	58,937,119
Less: Unearned ESOP shares	(3,084,342)	(3,471,747)
Cost of 122,202 and 233,506 shares of common stock in treasury as of June 30, 2026 and 2025, respectively	(2,651,908)	(4,616,372)
Total stockholders' equity	60,573,573	50,849,000
Total liabilities and stockholders' equity	$ 97,153,397	$ 79,116,564