XVARY Composite Score
53
/ 100
Below Average
Combines growth, value, risk, and momentum factors into a single institutional-grade score.
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What it is
BK Technologies sells radios and public-safety software to government buyers.
How it gets paid
Last year Bkti made $77M in revenue. Portable radios was the main engine at $31M, or 40% of sales.
What just happened
BKTI posted $38M in quarterly revenue and kept gross margin at 81.0%.
At a Glance
B balance sheet — gets the job done, barely
10/100 earnings predictability — expect surprises
25.9x trailing p/e — priced about right
28.0% return on capital — every dollar works hard here
$2.25 fy2024 eps est
XVARY composite: 53/100 — below average
What They Do
BK Technologies sells radios and public-safety software to government buyers.
You are buying a 113-person vendor, not a giant contractor. That is absurdly small for a business serving emergency response, public safety, homeland security, and military buyers. Leaving is painful because radios, workflows, and procurement records all have to move together, and BKTI carries $0 long-term debt.
How They Make Money
$77M
annual revenue
Portable radios
$31M
Mobile radios
$15M
SaaS apps
$15M
Services and accessories
$16M
The Products That Matter
Public-safety radios
BKR 5000
$70.5M bookings in fiscal 2022
This is the legacy line that once drove a record $70.5M in bookings. It tells you BKTI already knows how to win in its niche.
installed base
Next-gen radio platform
BKR9000
20% growth driver in 2025
Management tied a 20% revenue increase to this line, and full-year revenue still reached $86.1M. If growth continues, this is the product doing the lifting.
growth
Long-range operating plan
Vision 2030
$90M 2026 target · 60% long-term margin goal
This is not a product so much as management's scoreboard. The plan calls for $90M of revenue next and 60% gross margin longer term, which is ambitious enough that you should track it quarter by quarter.
execution test
Key Numbers
25.9x
trailing P/E
Trailing P/E → price versus last year's profit → 25.9x means you pay $25.90 for each $1 of earnings.
12.4%
operating margin
Operating margin → profit from sales before taxes → 12.4% means $12.40 stays from every $100 of revenue.
28.0%
return on capital
Return on capital → profit from the money tied up in the business → 28.0% is strong for a niche hardware vendor.
$0
long-term debt
Long-term debt → borrowed money due later → $0 means the balance sheet is not carrying an anchor.
Financial Health
B
Strength
- balance sheet grade B — adequate — nothing special
- risk rank 2 — safer than 80% of stocks
- price stability 10 / 100
- long-term debt $0M (0% of capital)
B — functional but not a standout on the balance sheet.
Total Return vs. Market
source: institutional data · return history unavailable
What Just Happened
beat estimates
BKTI posted $38M in quarterly revenue and kept gross margin at 81.0%.
Revenue was up 90% vs. prior year, and EPS reached $2.38. The margin says the mix is doing the heavy lifting.
$38M
revenue
$2.38
eps
81.0%
gross margin
gross margin
81.0% was the cleanest proof that the quarter was not just bigger, but more profitable.
source: company earnings report, 2025
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What Could Go Wrong
The #1 risk is missing the $90M revenue and 50%+ gross margin target for 2026.
Med
Execution against a now-public target
FY2025 revenue was $86.1M. The 2026 target is $90M. Gross margin hit 49.9% in Q3 2025, and management wants 50%+. The numbers are close enough to be believable and close enough that a miss will stand out.
If BKTI lands below $90M or cannot hold margin near 50%, the premium multiple loses its main support.
Med
Public-safety budget timing
BKTI sells into police, fire, and first-responder agencies. That means most of the $86.1M revenue base is exposed to procurement cycles, municipal budgets, and contract timing you do not control as a shareholder.
A delayed order cycle would hit revenue first and sentiment second. In a small-cap, those two usually travel together.
Med
Lumpy earnings meet a premium valuation
Earnings predictability is 10 / 100, yet the stock trades at 21.6x trailing earnings and about an 18% premium to peers. That's the market saying it will tolerate volatility right up until it doesn't.
This risk is not abstract. It is the combination of a low-visibility income statement and a valuation that assumes progress.
BKTI does not need explosive growth. It needs a clean move from $86.1M to $90M while keeping gross margin around 50%. If either piece slips, the valuation argument gets thinner fast.
Source: institutional data · regulatory filings · risk analysis
Pay Attention To
Next report
Q1 2026 earnings
This is the first clean check on whether the company is pacing toward $90M of revenue for 2026.
Metric
Gross margin above 50%
Q3 2025 gross margin was 49.9%. One tenth of a point does not sound dramatic. In this story, it is.
Trend
Revenue pace after a 12.5% year
Full-year 2025 revenue grew 12.5% to $86.1M. The next question is whether growth normalizes gently or drops below the run rate needed for $90M.
Risk
Agency order timing
Because BKTI sells to first responders, procurement timing can make a solid business look weak for a quarter. Watch order cadence, not just the headline EPS print.
Analyst Rankings
earnings predictability
10 / 100
In human-speak: the business is real, but the quarterly path can be messy.
risk rank
2
Safer than roughly 80% of stocks on this measure. In human-speak: the balance sheet is not the scary part.
price stability
10 / 100
The stock itself is volatile. In human-speak: even if the thesis works, the ride can still annoy you.
Source: institutional data
Institutional Activity
institutional ownership data for BKTI is being compiled.
Source: institutional data
Price Targets
3-5 year target range
$78
Current price
Target midpoint · from current
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