Pro-Dex Inc PDEX

Health CareHealthcare Equipment & SuppliesUnited States of America

Last close 58.16 USD on Nov 1, 2026, +51.1% year to date

Quant rating

Quant rating C Rank 300 of 565 in Health Care

Growth C 331 of 565
Valuation A 55 of 565
Quality D 494 of 565
Revisions C 272 of 565
Momentum B 197 of 565

Wall Street consensus Buy (2.00)Average target 74.00 USD +27.2%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 186M
Enterprise value: 194M
52-week range: 28.91 – 77.00
3-year range: 15.79 – 77.00
Dividend yield: –
Beta (5 years): 0.05
Shares outstanding: 3.2M
Next earnings: Jan 29, 2027

About the company

Pro-Dex, Inc. specializes in the design, development, and manufacture of autoclavable, battery-powered and electric, multi-function surgical drivers and shavers used primarily in the orthopedic, thoracic, and maxocranial facial markets. The Company has patented adoptive torque-limiting software and sealing solutions, which appeal to its customers, primarily medical device distributors. It also manufactures and sells rotary air motors to a range of industries. The Company’s medical device products utilize designs developed by it primarily under development and supply agreements and are machined in its Irvine, California facility, and assembled in its Tustin, California facility, as are its rotary air motors. Its medical device products are sold primarily to original equipment manufacturers and its air motors are sold primarily to a range of distributors and end users. It manufactures machined sub-assemblies and also produces parts and assemblies for aerospace and defense systems.

Growth and profitability fiscal year ends June 30

Growth and profitability by fiscal year
	2026	2025	2024	2023	2022	5Y avg
Revenue (mil)	77.5	66.6	53.8	46.1	42.0	–
Revenue growth	16.5%	23.7%	16.8%	9.6%	10.5%	15.3%
EPS (basic, normalized)	4.12	2.67	0.60	1.95	1.02	–
EPS growth	54.3%	345.0%	−69.2%	91.2%	–	–
Gross margin	31.4%	29.3%	27.0%	27.7%	31.2%	29.3%
Net margin	17.6%	13.5%	4.0%	15.3%	10.9%	12.3%
ROE	32.4%	26.6%	6.8%	24.8%	20.1%	22.1%

Balance sheet, last quarter
Cash & short-term investments (mil)	13.0
Current ratio	4.10x
Long-term debt (mil)	13.3
Net debt (mil)	8.1
Total equity (mil)	49.3
Net debt / equity	0.16x
Net debt / EBITDA	0.57x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2026 actual	77.5	+16.5%	2.5x	14.4	+9.0%	13.5x	4.12	+54.3%	14.1x
2027	82.7	+6.6%	2.3x	15.5	+7.8%	12.5x	3.09	−25.0%	18.8x
2028	86.8	+5.0%	2.2x	17.5	+12.9%	11.1x	3.36	+8.7%	17.3x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2027	82.7	0.0%	+2.1%	–	3.09	0.0%	+11.2%	–
2028	86.8	0.0%	–	–	3.36	0.0%	–	–
2029	–	–	–	–	–	–	–	–

Earnings surprises EPS beat in 2 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	FQ-2	FQ-1	Jun 2026
Sales reported (mil)	14.3	15.0	14.9	16.8	17.4	17.5	18.5	18.7	19.9	20.4
Sales mean (mil)	13.2	10.6	12.1	13.8	17.7	17.9	15.3	–	–	19.2
Surprise	+8.3%	+41.7%	+23.1%	+21.7%	−1.6%	−2.3%	+21.1%	–	–	+6.3%
EPS reported	0.19	0.46	0.75	0.61	0.82	0.36	1.40	–	–	0.87
EPS mean	0.35	0.35	0.29	0.38	0.47	0.47	0.50	–	–	0.67
Surprise	−45.7%	+31.4%	+158.6%	+60.5%	+74.5%	−23.4%	+180.0%	–	–	+29.9%

Peer comparison Healthcare Equipment & Supplies

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
PDEX Pro-Dex Inc	186M	0.57x	17.6%	3.89x	18.8x	17.3x	12.5x	11.1x
MMSI Merit Medical Systems Inc	5.2B	0.65x	8.5%	2.96x	19.8x	18.5x	13.0x	11.8x
DIAS Diasorin S.p.A.	5.0B	–	13.0%	2.80x	20.5x	18.6x	13.5x	12.5x
AMPF Amplifon SpA	3.4B	2.06x	3.8%	1.96x	16.8x	13.1x	7.3x	5.4x
BFLY Butterfly Network, Inc.	1.7B	4.70x	−79.1%	8.92x	−32.2x	−35.2x	−82.1x	−169.3x
KMTS Kestra Medical Technologies, Ltd.	1.8B	1.45x	−138.4%	7.91x	−12.1x	−14.9x	−19.2x	−24.8x
Mean		1.88x	−29.1%	4.74x	5.3x	2.9x	−9.2x	−25.5x
Median		1.45x	6.1%	3.43x	17.8x	15.2x	9.9x	8.3x

Technical analysis

1M−18.8%
3M+3.2%
1Y+102.6%
3Y+242.3%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Pro-Dex Inc, fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Total revenue	77.5	66.6	53.8	46.1	42.0	38.0
Cost of revenue	53.2	47.1	39.3	33.3	28.9	24.5
Gross profit	24.3	19.5	14.6	12.7	13.1	13.6
Selling, general & administrative expenses	8.0	5.2	4.2	4.2	5.0	4.7
Research & development	3.3	3.6	3.2	2.8	3.0	4.4
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	–	–	–	0	0	0
Other operating expenses	0	0	0	0	0	0
Operating income	13.0	10.7	7.2	5.8	5.1	4.5
Net interest income (expense)	5.0	1.4	−4.5	3.7	0.6	3.1
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	0	0	0	0	0	0
Net income before taxes	18.0	12.1	2.6	9.4	5.7	7.6
Provision for taxes	4.4	3.1	0.5	2.4	1.1	1.4
Minority interest	–	–	–	–	–	–
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	13.7	9.0	2.1	7.1	4.6	6.2
Extraordinary items	–	–	–	–	–	–
Net income	13.7	9.0	2.1	7.1	4.6	6.2
EBIT, normalized	13.0	10.7	7.2	5.8	5.2	4.5
EBITDA, normalized	14.4	11.9	8.3	6.6	5.9	5.2
Basic EPS, normalized	4.12	2.67	0.60	1.95	1.02	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Pro-Dex Inc, fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Assets
Cash & short-term investments	9.3	7.2	6.8	4.1	1.6	5.0
Receivables	21.8	17.5	14.1	10.4	15.4	10.9
Total inventory	21.5	22.2	15.3	16.2	12.7	8.4
Prepaid expenses	0.6	0.4	0.3	0.3	0.8	0.4
Other current assets	0.1	0	0	0	0.7	0.2
Total current assets	53.2	47.3	36.6	31.0	31.2	25.0
Property, plant & equipment	11.9	12.3	12.7	13.2	13.4	12.9
Goodwill	6.5	–	–	–	–	–
Intangibles	0.7	0	0.1	0.1	0.1	0.2
Long-term investments	0.5	0.1	1.6	7.5	4.1	1.7
Note receivable	–	–	–	–	–	–
Other long-term assets	1.6	1.5	1.6	0	0.3	0.5
Total assets	74.5	61.2	52.5	51.8	49.1	40.3
Liabilities
Accounts payable	4.3	4.6	4.5	2.3	3.8	2.3
Payable/accrued	–	–	–	–	–	–
Accrued expenses	4.4	3.5	3.4	3.1	2.8	2.2
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	4.2	6.1	4.4	3.8	3.3	1.2
Other current liabilities	0.2	0.4	0.6	0.5	1.6	0.5
Total current liabilities	13.0	14.6	12.9	9.7	11.4	6.3
Long-term debt	13.3	9.2	7.5	8.9	10.2	11.5
Minority interest	–	–	–	–	–	–
Other liabilities	0.6	0.7	1.2	1.6	2.1	2.4
Total liabilities	26.9	24.6	21.6	20.2	23.7	20.2
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	0	0.7	3.9	6.8	7.7	8.0
Additional paid-in capital	–	–	–	–	–	–
Retained earnings (accumulated deficit)	47.6	35.9	26.9	24.8	17.7	12.1
Treasury stock	–	–	–	–	–	–
Other equity	0	0	0	0	0	0
Total equity	47.6	36.6	30.9	31.6	25.4	20.1
Total liabilities & shareholders' equity	74.5	61.2	52.5	51.8	49.1	40.3

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Pro-Dex Inc, fiscal years, most recent first
	2026	2025	2024	2023	2022	2021
Operating activities
Net income	13.7	9.0	2.1	7.1	3.9	4.5
Depreciation, depletion & amortization	1.4	1.2	1.2	0.9	0.7	0.7
Deferred taxes	−0.1	0.1	−1.6	0.3	−0.3	−0.2
Non-cash items	−4.6	−1.6	4.7	−3.1	1.4	−0.3
Changes in working capital	−3.0	−10.5	−0.2	0.4	−6.5	−6.7
Cash from operations	7.2	−1.7	6.2	5.5	−0.8	−2.1
Investing activities
Capital expenditures	−0.5	−1.2	−1.0	−1.0	−1.6	−8.3
Other investing cash flows	4.4	1.0	−1.2	0.1	0.4	4.6
Cash from investing	3.9	−0.2	−2.2	−0.9	−1.2	−3.7
Financing activities
Financing cash flow items	0	−0.3	0	−0.2	0	−0.3
Cash dividends paid	–	–	–	–	–	–
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−3.4	0	−4.3	−2.3	−0.8	3.3
Cash from financing	−3.4	−0.3	−4.3	−2.5	−0.8	3.1
Foreign exchange effects	–	–	–	–	–	–
Net change in cash	7.8	−2.2	−0.3	2.1	−2.9	−2.7
Free cash flow	6.8	−2.9	5.2	4.5	−2.5	−10.3

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 1, 2026 after market close.