Alpha Pro Tech Ltd (APT) stock analysis
Close on Nov 11, 2026Market cap $63.89MP/E 12.3Yield –
StockData Score
Prices as of Nov 11, 2026How the score works
Solid18 of 30 checks passed
Alpha Pro Tech passes 18 of the 30 checks behind our score; 6 could not be run for lack of data and count as not passed. Each dot in the shape is one check — hover it for the numbers.
- Valuation
- 6/6
- Growth
- 2/6
- Past performance
- 4/6
- Financial health
- 6/6
- Dividend
- 0/6
What stands out
Margin of safety over 20%
The price is 37.9% below fair value, more than the 20% cushion we look for.
Trading below fair value
The share price of $6.26 is below our fair value estimate of $10.08.
Return on capital over 10%
Return on invested capital was 10.2%, above the 10% that usually covers the cost of capital.
No debt
Alpha Pro Tech has no borrowings on its latest balance sheet.
What to watch
Return on equity under 15%
Return on equity was 8.0% over the last twelve months and averaged 7.1% over five years; we look for 15% on both.
Earnings shrank over 5 years
Net income shrank 33.4% a year on average over the last five fiscal years.
Revenue growing under 10% a year
Revenue grew -1.6% a year over the last three fiscal years, short of the 10% we look for.
EPS growing under 10% a year
Diluted EPS grew 8.3% a year over the last three fiscal years.
Valuation6/6
P/E below its 5-year median
Alpha Pro Tech's P/E of 12.3 is below its own 5-year median of 14.5.
P/E below the industry
Alpha Pro Tech's P/E of 12.3 is below the Surgical, Medical, and Dental Instruments and Supplies median of 27.7.
EV/EBITDA below its 5-year median
Alpha Pro Tech's EV/EBITDA of 5.9 is below its 5-year median of 7.6.
P/B below the industry
Alpha Pro Tech's price-to-book of 0.97 is below the Surgical, Medical, and Dental Instruments and Supplies median of 3.22.
Trading below fair value
The share price of $6.26 is below our fair value estimate of $10.08.
Margin of safety over 20%
The price is 37.9% below fair value, more than the 20% cushion we look for.
Growth2/6
Revenue growing under 10% a year
Revenue grew -1.6% a year over the last three fiscal years, short of the 10% we look for.
EPS growing under 10% a year
Diluted EPS grew 8.3% a year over the last three fiscal years.
Earnings growth accelerating
Net income grew 40.0% over the last twelve months, against a 5-year average of -33.4% a year.
Growing slower than the industry
Revenue grew 7.8% over the last twelve months; the Surgical, Medical, and Dental Instruments and Supplies median is 11.0%.
Company guidance
No outlook found in earnings releases from the last twelve months.
Gross margin improving
Gross margin was 38.6% over the last twelve months, against 38.2% a year earlier.
Past performance4/6
Return on equity under 15%
Return on equity was 8.0% over the last twelve months and averaged 7.1% over five years; we look for 15% on both.
Return on capital over 10%
Return on invested capital was 10.2%, above the 10% that usually covers the cost of capital.
Return on equity above the industry
Alpha Pro Tech's return on equity of 8.0% is above the Surgical, Medical, and Dental Instruments and Supplies median of -31.3%.
Earnings shrank over 5 years
Net income shrank 33.4% a year on average over the last five fiscal years.
Net margin above its 5-year average
Net margin was 8.1% over the last twelve months, against a 5-year average of 6.9%.
Net margin above the industry
Alpha Pro Tech's net margin of 8.1% is above the Surgical, Medical, and Dental Instruments and Supplies median of -14.1%.
Financial health6/6
No debt
Alpha Pro Tech has no borrowings on its latest balance sheet.
Debt not rising
With no debt today, leverage cannot have risen.
Debt covered by cash flow
There is no debt to cover.
Interest well covered
No meaningful interest expense to cover.
Short-term assets cover short-term debts
Current assets are 8.71 times current liabilities.
Low bankruptcy risk
The Altman Z-score is 5.53; above 3 is the safe zone and below 1.8 the distress zone.
Dividend0/6
No dividend
Alpha Pro Tech has not paid a dividend in the last twelve months.
Yield against Treasuries
No dividend.
Yield against the market
No dividend.
Dividend stability
No dividend.
Earnings cover
No dividend.
Cash-flow cover
No dividend.
Fair value
How we estimate itOur estimate per share
$10.08
The share price is 38% below this estimate.
| Method | Multiple used | Own 5Y median | Industry median | Value per share | Weight |
|---|---|---|---|---|---|
| P/E | 21.0× | 14.5× | 27.7× | $10.73 | 40% |
| EV/EBITDA | 12.1× | 7.6× | 16.7× | $10.19 | 35% |
| P/B | 2.0× | 0.9× | 3.2× | $13.09 | 10% |
| Earnings power | 7.6% cost of equity | – | – | $6.09 | 15% |
| Fair value | $10.08 | 100% | |||
Valuation over time
Using the earnings and balance sheet published at each date, not today's.
- P/E at month end
- Own 5-year median 14.5
- Surgical, Medical, and Dental Instruments and Supplies median 27.7
An estimate from reported numbers and market multiples, not a price target or investment advice. It can be far off for companies whose profits are about to change sharply.
Market risk
From the past year of daily prices.
Liquidity
High risk
- Average value traded per day
- $430.34K
- Value traded per 1% price move
- $73.05K
Downside
Medium risk
- Typical loss in a bad month
- 16.2%
- Volatility (annualized)
- 58%
- Sharpe ratio, 1 year
- 0.47
- Beta to the S&P 500 (5Y)
- 0.55
Typical bad-month loss, week by week
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
Operating margin
Net margin
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +2.3% | -1.6% | -10.5% | +2.8% | |
| Gross profit | -1.7% | +1.3% | -14.9% | +3.5% | |
| Operating income | +11.3% | -6.2% | -34.4% | +10.0% | |
| Net income | -10.1% | +2.5% | -33.4% | +13.0% | |
| EPS, diluted | -5.7% | +8.3% | -29.7% | +18.6% | |
| Free cash flow | -8.5% | -23.0% | -36.8% | -11.2% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 9.2% | 58.6% | 5.7% | |
| Return on assets | 8.4% | 50.4% | 4.8% | |
| Current ratio | 12.03 | 9.43 | 12.94 | |
| Inventory turnover | 2.1× | 3.7× | 1.6× | |
| Capex to revenue | 0.6% | 1.1% | 1.1% | |
| Diluted shares | 17M | 14M | 11M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Alpha Pro Tech generated $21.28M from operations and spent $28.34M on capital expenditure, dividends and share buybacks. 29% of that went back into the business.
DuPont analysis
Return on equity split into margin, efficiency and leverage
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 6.0% | 0.80× | 1.19× | 5.7% |
| FY2024 | 6.8% | 0.81× | 1.15× | 6.3% |
| FY2023 | 6.8% | 0.92× | 1.09× | 6.8% |
| FY2022 | 5.3% | 0.94× | 1.08× | 5.4% |
| FY2021 | 9.8% | 1.01× | 1.13× | 11.2% |
| FY2020 | 26.2% | 1.92× | 1.16× | 58.6% |
| FY2019 | 6.4% | 1.29× | 1.11× | 9.2% |
| FY2018 | 7.8% | 1.36× | 1.08× | 11.4% |
| FY2017 | 6.0% | 1.26× | 1.09× | 8.2% |
| FY2016 | 6.9% | 1.23× | 1.09× | 9.2% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
- ProfitableNet income above zero$3.53M
- Cash generatingOperating cash flow above zero$2.37M
- Return on assets improvedROA up on the prior year5.7% → 4.8%
- Earnings backed by cashOperating cash flow above net income$2.37M vs $3.53M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose16.21 → 12.94
- No dilutionShare count did not rise11M → 11M
- Gross margin improvedGross margin up on the prior year39.65% → 38.11%
- More efficientAsset turnover rose0.84 → 0.80
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