TRNS
Transcat, Inc.
TRNS's fundamentals are mixed, but it looks expensive: trading at 226x earnings, about four times its usual 54x. Analysts expect strong earnings growth, though they disagree widely on how much.
TRNS Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Stable | |
| Stable | |
| Stable |
TRNS's revenue is currently healthy, and its profitability, cash flow and balance sheet are stable.
TRNS PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 38x | $17.80 | -83% |
| Forward | 47x | $106 | — |
| Fair | 54x | $25.31 | -76% |
| Expensive | 83x | $39.15 | -63% |
| Current | 226x | $106 | — |
Historical ranges are pointers, not guarantees.
TRNS's PE is in its expensive range at 226x. If earnings grow as analysts expect, today's price would be 47x next year's earnings, in its cheap range.
TRNS Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Growth | |
| Improving | |
| Limited | |
| Low |
Analysts expect earnings and revenue growth for TRNS, with profitability improving. However, they disagree widely on these estimates.
TRNS Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $2.27 | +383% |
| Q3 2026 | $0.47 | -62% |
| Q2 2026 | $0.36 | -75% |
| Q1 2026 | $0.57 | -64% |
| Q4 2025 | $0.86 | -54% |
| Q3 2025 | $1.23 | -39% |
| Q2 2025 | $1.44 | -17% |
| Q1 2025 | $1.57 | -3.7% |
| Q4 2024 | $1.89 | +45% |
TRNS's earnings per share have fallen from their peak: $0.47 over the past year, against $2.02 in late 2024.
TRNS Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $97.1M | +18% |
| Q2 2026 | $92.9M | +22% |
| Q1 2026 | $89.3M | +16% |
| Q4 2025 | $83.9M | +26% |
| Q3 2025 | $82.3M | +21% |
| Q2 2025 | $76.4M | +15% |
| Q1 2025 | $77.1M | +8.8% |
| Q4 2024 | $66.8M | +2.4% |
TRNS's revenue has grown year over year every quarter since late 2020: $97M last quarter, up 18% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 5.2% | +0.9 points |
| Q2 2026 | 4% | -3 points |
| Q1 2026 | 4.8% | -4.2 points |
| Q4 2025 | 0.1% | -3 points |
| Q3 2025 | 4.3% | -1.3 points |
| Q2 2025 | 7% | -0.7 points |
| Q1 2025 | 9% | -4 points |
| Q4 2024 | 3.1% | -3.4 points |
TRNS's operating margin was 5.2% last quarter, up 0.9 points from the same quarter a year ago.
TRNS Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $6.1M | -28% |
| Q2 2026 | $4.8M | +$5.8M |
| Q1 2026 | $2.6M | -67% |
| Q4 2025 | $9.5M | -2.7% |
| Q3 2025 | $8.4M | +194% |
| Q2 2025 | -$975K | -119% |
| Q1 2025 | $7.9M | +413% |
| Q4 2024 | $9.7M | +34% |
TRNS generated $23M in free cash flow over the past year, down 8.6% from the year before.
TRNS Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.8% | +74K shares |
| 1 year | +1.6% | +148K shares |
| 3 years | +20% | +1.6M shares |
| 5 years | +26% | +2M shares |
| Available history | +26% | +2M shares |
TRNS has 10M diluted shares, up 1.6% from a year ago.
| Quarter | Spent |
|---|---|
| Q2 2026 | $1.9M |
| Q1 2026 | $372,000 |
| Q4 2025 | $13,000 |
| Q3 2025 | $110,000 |
| Q2 2025 | — |
| Q1 2025 | $357,000 |
| Q4 2024 | $182,000 |
| Q3 2024 | $1.4M |
TRNS Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 2.7x | Moderate |
| Q2 2026 | 2.7x | Moderate |
| Q1 2026 | 2.4x | Moderate |
| Q4 2025 | 2.4x | Moderate |
| Q3 2025 | 2.7x | Moderate |
| Q2 2025 | 0.9x | Very low |
| Q1 2025 | 0.9x | Very low |
| Q4 2024 | 1.0x | Healthy |
TRNS's net debt is about 2.7 years of its operating earnings (EBITDA), about the same as a year ago.
TRNS Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 68.7 | Neutral |
| Stochastic | 62.5 | Neutral |
TRNS's weekly RSI is 69 (neutral) and its Stochastic is 62 (neutral).
TRNS PE vs Industrials Sector
| Metric | TRNS | Sector median | Relative |
|---|---|---|---|
| PE | 226x | 24x | 841% above |
| PE % | 97 | 58 | 39 pts above |
TRNS is trading at 226x earnings, a 841% premium to the Industrials sector's median of 24x.
TRNS Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $90.1 | 18% above |
| 20 week MA | $88.9 | 20% above |
| 50 week MA | $79.4 | 34% above |
| 100 week MA | $79.9 | 33% above |
| 200 week MA | $91.5 | 16% above |
TRNS has climbed back above all five of its weekly moving averages, and it's now 16% above its 200-week average.
TRNS Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $31.8 | $33.0 | +3.8% |
| 2021 | $33.0 | $92.9 | +181% |
| 2022 | $92.9 | $70.0 | -25% |
| 2023 | $70.0 | $109.3 | +56% |
| 2024 | $109.3 | $106.0 | -3% |
| 2025 | $106.0 | $58.9 | -44% |
| 2026 YTD | $58.9 | $106.3 | +81% |
TRNS's yearly returns have swung widely, from +181% in 2021 to −44% in 2025. It's up 81% so far in 2026.