Assay
Financial-condition grades for SEC filers
Company Report · as of Oct 9, 2026
|
| Trio-Tech InternationalTRT · manufacturing | |
|---|---|
| Grade |  Cmiddle fifth of 255 graded peers; percentile 56.7, sampling error 3.0 points; lower is stronger |
| Rank | 145 of 255 |
| Profitability | Dpercentile 64.6 |
| Solvency | Bpercentile 32.7 |
| Growth and financing | Cpercentile 55.0 |
| Reliability | 0.83 AUCfailure model, filers with $12.5M to $120M assets; 95% interval 0.79 to 0.86; 201 events, 2020 to 2025 |
| Peer failure rate | 1.07% a yearItem 1.03 bankruptcies, same asset band, 2012 to 2025 |
| Size band | $12.5M to $120M assetstotal assets $60.7M[1] |
| Standard universe | insiderevenue above $1M and assets above $10M[1-2] |
| Warnings | none active · fortress balance sheet |
| Inputs computable | 12 of 14 |
| Graded from | filings received through Sep 24, 202615 days before the rescan; every figure keyed to the SEC receipt date |
| Last close | $5.672026-10-08; market equity $58.9M; iex feed |
| Price used in grade | None |
| Share price, twelve months to the rescansplit-adjusted close; a lollipop at every rescan carries the letter held then; baseline ticks are SEC receipt dates of the inputs; ranges and dragging scroll the full history | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Percentile at every rescan on file, Jan 21, 2012 to Oct 9, 2026; stronger toward the top. Hover for the date. Open this report as it stood on | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Each date opens the report as it stood on that rescan. |
Business, in the company's words. Opening of Item 1 of the 10-K received Sep 24, 2026; the document on sec.gov.
The business and activities of Trio-Tech International, a California corporation (the “Company”), discussed in this Annual Report on Form 10-K (the “Annual Report”) and in other past and future reports and announcements by the Company may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and assumptions regarding future activities and results of operations of the Company.
Warnings [top]
7 checks ran; none of them enters the letter. The checks are listed on the warnings screen.
The Fourteen Inputs [top]
Lower percentile is stronger. Source numbers open the SEC filing; a range that spans filings opens the sources table.
| Input | Percentile, 0 to 100 | Value | Source | Peer median | Percentile | Peers | Period end |
|---|---|---|---|---|---|---|---|
| Profitability, sleeve percentile 64.6 | |||||||
| Gross profitability | 17.2% | [1,5] | 21.9% | 64.2 | 275 | 2026-06-30 | |
| Return on invested capital | (0.4%) | [3-4,6-12] | 9.7% | 87.9 | 100 | 2026-06-30 | |
| Accruals ratio | (6.8%) | [1,13-15] | (3.6%) | 29.0 | 308 | 2026-06-30 | |
| Gross margin stability, five years | 3.8 pts | [2,5,16-23] | 2.1 pts | 77.2 | 229 | 2026-06-30 | |
| Solvency, sleeve percentile 32.7 | |||||||
| Twelve-month failure probability | 0.11% | 0.04% | 87.9 | 34 | 2026-06-30 | ||
| Altman Z double-prime | 6.70 | [1,6,9,24-27] | 3.66 | 19.3 | 244 | 2026-06-30 | |
| Net debt to EBITDA | (10.05x) | [3-4,6,28] | 1.78x | 0.8 | 121 | 2026-06-30 | |
| Interest coverage | not computable | 5.09x | |||||
| latest aligned inputs end 2023-06-30; latest annual assets end 2026-06-30 | |||||||
| Current ratio | 3.44x | [24-25] | 2.25x | 22.8 | 325 | 2026-06-30 | |
| Growth and financing, sleeve percentile 55.0 | |||||||
| Revenue growth, three-year compound | 13.1% | [2,17,19,21] | 2.1% | 16.0 | 269 | 2026-06-30 | |
| Free cash flow growth, three-year compound | (22.4%) | [14,29-35] | 13.9% | 92.8 | 139 | 2026-06-30 | |
| Reinvestment rate | not computable | 26.4% | |||||
| NOPAT must exceed $100,000 | |||||||
| Asset growth, three years | 12.9% | [1,15,36-37] | 4.4% | 20.1 | 279 | 2026-06-30 | |
| Net share issuance, one year | 20.4% | [38-39] | 0.01% | 90.9 | 243 | 2026-09-01 | |
Gross profitability. Revenue less cost of goods sold, over total assets.
Accruals ratio. Net income less operating cash flow, over average assets; lower is stronger.
Gross margin stability, five years. Standard deviation of gross margin; lower is stronger.
Twelve-month failure probability. CHS model; lower is stronger.
Net debt to EBITDA. Lower is stronger.
Net share issuance, one year. Split-adjusted; lower is stronger.
Sleeves are equal-weighted; within a sleeve each computable input carries equal weight. Composite 0.016; sampling error 3.0 percentile points on 255 peers.
Among 255 Peers [top]
Composite score of every graded peer, smoothed. Vertical rules are the letter band edges at the 20th, 40th, 60th and 80th percentiles. Small dots are the six largest peers by market equity.
| Rank | Company | Percentile | Letter | Warnings |
|---|---|---|---|---|
| 140 | Hayward Holdings, Inc. (HAYW) Hayward Holdings, Inc. (HAYW) Cmiddle fifth; percentile 54.7 NYSE · Refrigeration & Service Industry Machinery market equity $2.5B; last close $11.42 No active warnings; 13 of 14 inputs | 54.7 | C | |
| 141 | Dover Corp. (DOV) Dover Corp. (DOV) Cmiddle fifth; percentile 55.1 NYSE · Construction, Mining & Materials Handling Machinery & Equip market equity $25.4B; last close $188.94 No active warnings; 9 of 14 inputs | 55.1 | C | |
| 142 | Timken Co. (TKR) Timken Co. (TKR) Cmiddle fifth; percentile 55.5 NYSE · Ball & Roller Bearings market equity $7.9B; last close $114.34 No active warnings; 11 of 14 inputs | 55.5 | C | |
| 143 | nVent Electric plc (NVT) nVent Electric plc (NVT) Cmiddle fifth; percentile 55.9 NYSE · Special Industry Machinery (No Metalworking Machinery) market equity $26.6B; last close $164.23 No active warnings; 10 of 14 inputs | 55.9 | C | |
| 144 | Pentair plc (PNR) Pentair plc (PNR) Cmiddle fifth; percentile 56.3 NYSE · Special Industry Machinery (No Metalworking Machinery) market equity $8.5B; last close $52.32 No active warnings; 10 of 14 inputs | 56.3 | C | |
| 145 | Trio-Tech International (TRT) Trio-Tech International (TRT) Cmiddle fifth; percentile 56.7 Nasdaq · Special Industry Machinery, NEC market equity $58.8M; last close $5.67 Warnings: fortress balance sheet; 12 of 14 inputs | 56.7 | C | fortress balance sheet |
| 146 | Northern Technologies International Corp. (NTIC) Northern Technologies International Corp. (NTIC) C/Don the C/D boundary; percentile 57.1 Nasdaq · Coating, Engraving & Allied Services market equity $72.7M; last close $7.80 No active warnings; 7 of 14 inputs | 57.1 | C/D | |
| 147 | Kaiser Aluminum Corp. (KALU) Kaiser Aluminum Corp. (KALU) C/Don the C/D boundary; percentile 57.5 Nasdaq · Rolling Drawing & Extruding of Nonferrous Metals market equity $2.4B; last close $150.08 Warnings: fortress balance sheet; 9 of 14 inputs | 57.5 | C/D | fortress balance sheet |
| 148 | RBC Bearings Inc. (RBC) RBC Bearings Inc. (RBC) C/Don the C/D boundary; percentile 57.9 NYSE · Ball & Roller Bearings market equity $15.5B; last close $491.47 No active warnings; 11 of 14 inputs | 57.9 | C/D | |
| 149 | Steel Dynamics Inc. (STLD) Steel Dynamics Inc. (STLD) C/Don the C/D boundary; percentile 58.3 Nasdaq · Steel Works, Blast Furnaces & Rolling Mills (Coke Ovens) market equity $33.6B; last close $234.08 No active warnings; 12 of 14 inputs | 58.3 | C/D | |
| 150 | Ingersoll Rand Inc. (IR) Ingersoll Rand Inc. (IR) C/Don the C/D boundary; percentile 58.7 NYSE · General Industrial Machinery & Equipment market equity $30.3B; last close $78.00 No active warnings; 12 of 14 inputs | 58.7 | C/D |
| Peer policy | Letter | Percentile | Peers |
|---|---|---|---|
| all graded filers, equal sleeves | C | 52.9 | 2204 |
| sector peers, equal sleeves (the grade) | C | 56.7 | 255 |
| same exchange, equal sleeves | C | 54.2 | 1219 |
| sector peers, equal inputs | C | 56.7 | 255 |
Each letter is one fifth of the 255 graded peers, about 51 companies. A boundary letter (A/B, B/C, C/D, D/E) marks a percentile within one sampling error of a band edge.
What the Price Implies [top]
Market measures at the 2026-10-08 close. None enters the grade. Percentile among graded peers with the same measure.
| Measure | Value | Peer median | Percentile | Reading |
|---|---|---|---|---|
| Twelve-month price change, skipping the latest month | 237.3% | 13.7% | 100 | hotter than 100 of 100 peers |
| Distance from 52-week high | (71.8%) | (24.3%) | 4 | closer to its high than 4 of 100 peers |
| EBIT to enterprise value | (0.5%) | 4.1% | 17 | pricier than 83 of 100 peers |
| Free cash flow yield | 2.9% | 3.4% | 43 | pricier than 57 of 100 peers |
| Book value to price | 0.76 | 0.34 | 81 | pricier than 19 of 100 peers |
| Sales to price | 1.07 | 0.54 | 71 | pricier than 29 of 100 peers |
| Composite equity issuance, five years | 28.3% | (9.5%) | 86 | more equity-funded than 86 of 100 peers |
| Relative strength against the sector, log excess return | 1.08 | (0.00) | 100 | ahead of 100 of 100 peers |
Inputs: market equity $58.8M; EBIT -$204,000; free cash flow $1.7M; book equity $44.9M; sales $62.6M; debt $445,000; cash $21.4M[38].
Diagnostics [top]
Diagnostics do not feed the grade.
| Piotroski F-score: 5 of 9, period end 2026-06-30 | ||
|---|---|---|
| Return on assets above zero | (0.1%) | ✗ fail[13,15] |
| Operating cash flow above zero | $3.4M | ✓ pass[14] |
| Return on assets improved | 0.0 pts | ✓ pass[13,15,36,40] |
| Operating cash flow exceeds net income | $3.5M | ✓ pass[13-14] |
| Long-term leverage fell | (0.8 pts) | ✓ pass[1,4,10,15,36] |
| Current ratio improved | (158.2 pts) | ✗ fail[24-25,41-42] |
| No new shares issued | 20.4% | ✗ fail[38-39] |
| Gross margin improved | (8.4 pts) | ✗ fail[2,5,16-17] |
| Asset turnover improved | 66.7 pts | ✓ pass[2,15,17,36] |
| Cash, filings, liquidity | |
|---|---|
| Cash and equivalents | $21.4M[3] |
| Operating cash flow, four quarters | $3.4M[3,14,43-45] |
| Months of runway | not finite |
| trailing operating cash flow is nonnegative, so runway is not finite | |
| Late filings, two years | 0 |
| NT 10-K or NT 10-Q | |
| Days since last periodic filing | 15 |
| 10-K received Sep 24, 2026 | |
| Median daily dollar volume | $2.1M |
| 63 sessions | |
| Days since newest grade input | 15 |
Downloads [top]
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Sources [top]
Every citation on this page. Filing opens the SEC index page for that submission; viewer opens the SEC interactive data for the same filing; series opens the SEC XBRL API record for that tag and company.
| # | Concept | XBRL tag | Value | Period end | Received | Form | Links |
|---|---|---|---|---|---|---|---|
| 1 | assets | us-gaap:Assets | $60.7M | 2026-06-30 | 2026-09-24 | 10-K | filing · viewer · series |
| 2 | revenue | us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax | $62.6M | 2026-06-30 | 2026-09-24 | 10-K | filing · viewer · series |
| 3 | cash | us-gaap:CashAndCashEquivalentsAtCarryingValue | $21.4M | 2026-06-30 | 2026-09-24 | 10-K | filing · viewer · series |
| 4 | total debt | us-gaap:LongTermDebt | $445,000 | 2026-06-30 | 2026-09-24 | 10-K | filing · viewer · series |
| 5 | gross profit | us-gaap:GrossProfit | $10.4M | 2026-06-30 | 2026-09-24 | 10-K | filing · viewer · series |
| 6 | operating income | us-gaap:OperatingIncomeLoss | -$204,000 | 2026-06-30 | 2026-09-24 | 10-K | filing · viewer · series |
| 7 | pretax income | us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest | $389,000 | 2026-06-30 | 2026-09-24 | 10-K | filing · viewer · series |
| 8 | income tax | us-gaap:IncomeTaxExpenseBenefit | $228,000 | 2026-06-30 | 2026-09-24 | 10-K | filing · viewer · series |
| 9 | book equity | us-gaap:StockholdersEquity | $44.9M | 2026-06-30 | 2026-09-24 | 10-K | filing · viewer · series |
| 10 | total debt | us-gaap:LongTermDebt | $684,000 | 2025-06-30 | 2026-09-24 | 10-K | filing · viewer · series |
| 11 | book equity | us-gaap:StockholdersEquity | $34.0M | 2025-06-30 | 2026-09-24 | 10-K | filing · viewer · series |
| 12 | cash | us-gaap:CashAndCashEquivalentsAtCarryingValue | $10.9M | 2025-06-30 | 2026-09-24 | 10-K | filing · viewer · series |
| 13 | net income | us-gaap:NetIncomeLoss | -$34,000 | 2026-06-30 | 2026-09-24 | 10-K | filing · viewer · series |
| 14 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $3.4M | 2026-06-30 | 2026-09-24 | 10-K | filing · viewer · series |
| 15 | assets | us-gaap:Assets | $41.1M | 2025-06-30 | 2026-09-24 | 10-K | filing · viewer · series |
| 16 | gross profit | us-gaap:GrossProfit | $9.1M | 2025-06-30 | 2026-09-24 | 10-K | filing · viewer · series |
| 17 | revenue | us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax | $36.5M | 2025-06-30 | 2026-09-24 | 10-K | filing · viewer · series |
| 18 | gross profit | us-gaap:GrossProfit | $10.8M | 2024-06-30 | 2025-09-19 | 10-K | filing · viewer · series |
| 19 | revenue | us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax | $42.3M | 2024-06-30 | 2025-09-19 | 10-K | filing · viewer · series |
| 20 | gross profit | us-gaap:GrossProfit | $11.7M | 2023-06-30 | 2024-09-23 | 10-K | filing · viewer · series |
| 21 | revenue | us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax | $43.2M | 2023-06-30 | 2024-09-23 | 10-K | filing · viewer · series |
| 22 | gross profit | us-gaap:GrossProfit | $11.7M | 2022-06-30 | 2023-09-27 | 10-K | filing · viewer · series |
| 23 | revenue | us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax | $44.1M | 2022-06-30 | 2023-09-27 | 10-K | filing · viewer · series |
| 24 | current assets | us-gaap:AssetsCurrent | $45.3M | 2026-06-30 | 2026-09-24 | 10-K | filing · viewer · series |
| 25 | current liabilities | us-gaap:LiabilitiesCurrent | $13.2M | 2026-06-30 | 2026-09-24 | 10-K | filing · viewer · series |
| 26 | retained earnings | us-gaap:RetainedEarningsAccumulatedDeficit | $10.8M | 2026-06-30 | 2026-09-24 | 10-K | filing · viewer · series |
| 27 | liabilities | us-gaap:Liabilities | $17.7M | 2026-06-30 | 2026-09-24 | 10-K | filing · viewer · series |
| 28 | depreciation amortization | us-gaap:DepreciationDepletionAndAmortization | $2.3M | 2026-06-30 | 2026-09-24 | 10-K | filing · viewer · series |
| 29 | capital expenditure | us-gaap:PaymentsToAcquirePropertyPlantAndEquipment | $1.7M | 2026-06-30 | 2026-09-24 | 10-K | filing · viewer · series |
| 30 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $371,000 | 2025-06-30 | 2026-09-24 | 10-K | filing · viewer · series |
| 31 | capital expenditure | us-gaap:PaymentsToAcquirePropertyPlantAndEquipment | $967,000 | 2025-06-30 | 2026-09-24 | 10-K | filing · viewer · series |
| 32 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $2.7M | 2024-06-30 | 2025-09-19 | 10-K | filing · viewer · series |
| 33 | capital expenditure | us-gaap:PaymentsToAcquirePropertyPlantAndEquipment | $542,000 | 2024-06-30 | 2025-09-19 | 10-K | filing · viewer · series |
| 34 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $8.1M | 2023-06-30 | 2024-09-23 | 10-K | filing · viewer · series |
| 35 | capital expenditure | us-gaap:PaymentsToAcquirePropertyPlantAndEquipment | $4.5M | 2023-06-30 | 2024-09-23 | 10-K | filing · viewer · series |
| 36 | assets | us-gaap:Assets | $42.5M | 2024-06-30 | 2025-09-19 | 10-K | filing · viewer · series |
| 37 | assets | us-gaap:Assets | $42.2M | 2023-06-30 | 2024-09-23 | 10-K | filing · viewer · series |
| 38 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 10,384,698 | 2026-09-01 | 2026-09-24 | 10-K | filing · viewer · series |
| 39 | shares outstanding | dei:EntityCommonStockSharesOutstanding | 4,312,805 | 2025-09-01 | 2025-09-19 | 10-K | filing · viewer · series |
| 40 | net income | us-gaap:NetIncomeLoss | -$41,000 | 2025-06-30 | 2026-09-24 | 10-K | filing · viewer · series |
| 41 | current assets | us-gaap:AssetsCurrent | $31.6M | 2025-06-30 | 2026-09-24 | 10-K | filing · viewer · series |
| 42 | current liabilities | us-gaap:LiabilitiesCurrent | $6.3M | 2025-06-30 | 2026-09-24 | 10-K | filing · viewer · series |
| 43 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $2.3M | 2026-03-31 | 2026-05-14 | 10-Q | filing · viewer · series |
| 44 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $1.1M | 2025-12-31 | 2026-02-13 | 10-Q | filing · viewer · series |
| 45 | operating cash flow | us-gaap:NetCashProvidedByUsedInOperatingActivities | $933,000 | 2025-09-30 | 2025-11-14 | 10-Q | filing · viewer · series |
Limitations [top]
Grade boundary. Percentile 56.7 is 3.3 points from the nearest band edge; sampling error is 3.0 points.
Peer group. Sector assignment from four-digit SIC codes, hand-tuned and published. The grade under three alternative peer policies is tabled above.
Size. Within a sector the letter tracks size. Among graded filers in the smallest asset band, 72% grade E and 0% grade A; in the largest, 13% grade E and 21% grade A. Universe as of Oct 9, 2026.
Failure model. filings 2012-01-01 to 2019-12-31 fit, filings 2020-01-01 to 2025-12-31 test; status post hoc pending confirmation. pre-registered on 2026 filings once their 12-month outcome windows close; supported if the paired per-quintile gain over the pooled model has a lower bound above 0.05.
Input validity. Revenue or total assets at or below $100,000 sets the degenerate-inputs flag. An input whose denominator is at or below $100,000 is left not computable rather than ranked.
Returns. No input on this page has a post-2015 confidence interval on returns that excludes zero. The grade ranks reported financial condition and is not a return forecast.
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