BK Technologies (BKTI)


Market Price (11/5/2026): $67.05 | Market Cap: $252.7 MilSector: Information Technology | Industry: Communications Equipment

BK Technologies (BKTI)


Market Price (11/5/2026): $67.05
Market Cap: $252.7 Mil
Sector: Information Technology
Industry: Communications Equipment

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.4%, FCF Yield is 7.4%

Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -11%

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 23%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 20%

Low stock price volatility
Vol 12M is 46%

Megatrend and thematic drivers
Megatrends include Public Safety Technology. Themes include Mission-Critical Communications, and Emergency Response Systems.

Key risks
BKTI key risks include [1] its heavy reliance on government contracts and spending, Show more.

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.4%, FCF Yield is 7.4%
1 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -11%
2 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 23%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 20%
3 Low stock price volatility
Vol 12M is 46%
4 Megatrend and thematic drivers
Megatrends include Public Safety Technology. Themes include Mission-Critical Communications, and Emergency Response Systems.
5 Key risks
BKTI key risks include [1] its heavy reliance on government contracts and spending, Show more.

BKTI in ETFs

Weight = BKTI's share of each fund

VTI0.00%
IWM0.01%
AVUV0.02%
IWO0.01%
VTWO0.01%
DFAS0.01%
DFAC0.00%

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 11/4/2026

BK Technologies (BKTI) stock has lost about 15% since 7/31/2026 because of the following key factors:

1. Anticipated year-over-year decline in fiscal Q3 2026 earnings per share (EPS).

Analysts expect BK Technologies to report fiscal Q3 2026 EPS of $0.93, a notable decrease from the $1.27 reported in fiscal Q3 2025. This represents an expected year-over-year decline of approximately 26.8% in EPS for the quarter ending September 30, 2026, contributing to negative investor sentiment.

2. Increased income tax provision negatively impacted fiscal Q2 2026 net income.

Although BK Technologies' fiscal Q2 2026 EPS of $1.01 exceeded analyst estimates, the reported net income of $3.2 million was lower than the $3.7 million in fiscal Q2 2025. This decline was primarily due to a $0.6 million year-on-year increase in income tax provision, affecting overall profitability despite revenue growth.

Show more
Updated on 11/4/2026

BK Technologies (BKTI) stock has lost about 15% since 7/31/2026 because of the following key factors:

1. Anticipated year-over-year decline in fiscal Q3 2026 earnings per share (EPS).

Analysts expect BK Technologies to report fiscal Q3 2026 EPS of $0.93, a notable decrease from the $1.27 reported in fiscal Q3 2025. This represents an expected year-over-year decline of approximately 26.8% in EPS for the quarter ending September 30, 2026, contributing to negative investor sentiment.

2. Increased income tax provision negatively impacted fiscal Q2 2026 net income.

Although BK Technologies' fiscal Q2 2026 EPS of $1.01 exceeded analyst estimates, the reported net income of $3.2 million was lower than the $3.7 million in fiscal Q2 2025. This decline was primarily due to a $0.6 million year-on-year increase in income tax provision, affecting overall profitability despite revenue growth.

3. Significant increase in Selling, General & Administrative (SG&A) expenses.

In fiscal Q2 2026, SG&A expenses rose to $8.3 million, up from $6.0 million in fiscal Q2 2025. This 38.3% increase was primarily driven by planned engineering investments aimed at accelerating the development of the BKR9500 in-vehicle multiband radio platform and the BK ONE software ecosystem. While these are strategic investments for future growth, the higher expenses likely weighed on short-term earnings and investor perception.

4. Headquarters facility disruption due to partial roof collapse.

On October 8, 2026, BK Technologies experienced a partial roof collapse at its headquarters, an event that was publicly announced on October 13, 2026. This incident, occurring within the specified period, could lead to operational disruptions, unexpected repair costs, and potential impacts on business continuity, thus creating uncertainty for investors.

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Stock Movement Drivers

Fundamental Drivers

The -16.3% change in BKTI stock from 7/31/2026 to 11/4/2026 was primarily driven by a -12.5% change in the company's P/E Multiple.
(LTM values as of)731202611042026Change
Stock Price ($)80.0066.97-16.3%
Change Contribution By: 
Total Revenues ($ Mil)88912.5%
Net Income Margin (%)16.0%15.0%-6.4%
P/E Multiple21.118.5-12.5%
Shares Outstanding (Mil)44-0.3%
Cumulative Contribution-16.3%

LTM = Last Twelve Months as of date shown

Market Drivers

7/31/2026 to 11/4/2026
ReturnCorrelation
BKTI-16.3% 
Market (SPY)2.6%32.3%
Sector (XLK)0.7%49.0%

Fundamental Drivers

The -30.5% change in BKTI stock from 4/30/2026 to 11/4/2026 was primarily driven by a -30.9% change in the company's P/E Multiple.
(LTM values as of)430202611042026Change
Stock Price ($)96.3666.97-30.5%
Change Contribution By: 
Total Revenues ($ Mil)86915.2%
Net Income Margin (%)15.7%15.0%-4.6%
P/E Multiple26.818.5-30.9%
Shares Outstanding (Mil)440.2%
Cumulative Contribution-30.5%

LTM = Last Twelve Months as of date shown

Market Drivers

4/30/2026 to 11/4/2026
ReturnCorrelation
BKTI-30.5% 
Market (SPY)7.0%29.1%
Sector (XLK)10.8%36.0%

Fundamental Drivers

The -10.4% change in BKTI stock from 10/31/2025 to 11/4/2026 was primarily driven by a -19.4% change in the company's P/E Multiple.
(LTM values as of)1031202511042026Change
Stock Price ($)74.7166.97-10.4%
Change Contribution By: 
Total Revenues ($ Mil)789115.7%
Net Income Margin (%)15.2%15.0%-1.2%
P/E Multiple22.918.5-19.4%
Shares Outstanding (Mil)44-2.8%
Cumulative Contribution-10.4%

LTM = Last Twelve Months as of date shown

Market Drivers

10/31/2025 to 11/4/2026
ReturnCorrelation
BKTI-10.4% 
Market (SPY)13.4%28.9%
Sector (XLK)17.9%29.8%

Fundamental Drivers

The 431.5% change in BKTI stock from 10/31/2023 to 11/4/2026 was primarily driven by a 352.5% change in the company's P/S Multiple.
(LTM values as of)1031202311042026Change
Stock Price ($)12.6066.97431.5%
Change Contribution By: 
Total Revenues ($ Mil)709129.5%
P/S Multiple0.62.8352.5%
Shares Outstanding (Mil)34-9.3%
Cumulative Contribution431.5%

LTM = Last Twelve Months as of date shown

Market Drivers

10/31/2023 to 11/4/2026
ReturnCorrelation
BKTI431.5% 
Market (SPY)89.7%28.6%
Sector (XLK)119.1%26.5%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
BKTI Return-19%45%-26%180%118%-10%372%
Peers Return65%-4%-10%-13%68%24%159%
S&P 500 Return27%-19%24%23%16%11%102%

Monthly Win Rates [3]
BKTI Win Rate58%67%42%50%50%45% 
Peers Win Rate70%47%47%57%57%55% 
S&P 500 Win Rate75%42%67%75%67%36% 

Max Drawdowns [4]
BKTI Max Drawdown-68%-31%-54%-26%-33%-33% 
Peers Max Drawdown-21%-38%-42%-45%-38%-40% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: MSI, LHX, VSAT, CMTL, RELL.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 11/4/2026 (YTD)

How Low Can It Go

EventBKTIS&P 500
2025 US Tariff Shock
  % Loss-21.7%-18.8%
  % Gain to Breakeven27.8%23.1%
  Time to Breakeven18 days79 days
2024 Yen Carry Trade Unwind
  % Loss-10.3%-7.8%
  % Gain to Breakeven11.5%8.5%
  Time to Breakeven2 days18 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-38.9%-9.5%
  % Gain to Breakeven63.7%10.5%
  Time to Breakeven218 days24 days
2023 SVB Regional Banking Crisis
  % Loss-41.6%-6.7%
  % Gain to Breakeven71.3%7.1%
  Time to Breakeven481 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-13.6%-24.5%
  % Gain to Breakeven15.8%32.4%
  Time to Breakeven7 days427 days
2020 COVID-19 Crash
  % Loss-56.9%-33.7%
  % Gain to Breakeven132.1%50.9%
  Time to Breakeven21 days140 days

Compare to MSI, LHX, VSAT, CMTL, RELL

In The Past

BK Technologies's stock fell -21.7% during the 2025 US Tariff Shock. Such a loss loss requires a 27.8% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventBKTIS&P 500
2025 US Tariff Shock
  % Loss-21.7%-18.8%
  % Gain to Breakeven27.8%23.1%
  Time to Breakeven18 days79 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-38.9%-9.5%
  % Gain to Breakeven63.7%10.5%
  Time to Breakeven218 days24 days
2023 SVB Regional Banking Crisis
  % Loss-41.6%-6.7%
  % Gain to Breakeven71.3%7.1%
  Time to Breakeven481 days31 days
2020 COVID-19 Crash
  % Loss-56.9%-33.7%
  % Gain to Breakeven132.1%50.9%
  Time to Breakeven21 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-23.5%-19.2%
  % Gain to Breakeven30.8%23.8%
  Time to Breakeven17 days105 days
2016-2017 Trump Reflation Bond Selloff
  % Loss-28.7%-3.7%
  % Gain to Breakeven40.3%3.9%
  Time to Breakeven1362 days6 days
2014-2016 Oil Price Collapse
  % Loss-37.5%-6.8%
  % Gain to Breakeven60.0%7.3%
  Time to Breakeven18 days15 days
2011 US Debt Ceiling Crisis & European Contagion
  % Loss-25.4%-17.9%
  % Gain to Breakeven34.1%21.8%
  Time to Breakeven142 days123 days
2010 Eurozone Sovereign Debt Crisis / Flash Crash
  % Loss-41.4%-15.4%
  % Gain to Breakeven70.8%18.2%
  Time to Breakeven1050 days125 days
2008-2009 Global Financial Crisis
  % Loss-84.0%-53.4%
  % Gain to Breakeven525.0%114.4%
  Time to Breakeven160 days1085 days

Compare to MSI, LHX, VSAT, CMTL, RELL

In The Past

BK Technologies's stock fell -21.7% during the 2025 US Tariff Shock. Such a loss loss requires a 27.8% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About BK Technologies (BKTI)

BK Technologies Corporation (BKTI) specializes in the design, manufacture, and marketing of wireless communications products. The company's core offerings include two-way land mobile radios (LMR), repeaters, base stations, and associated components and subsystems, which are vital for reliable and secure communication across various professional settings.

The company caters to distinct customer segments through its brand strategy. Its BK Technologies, BKR, and BK Radio brands provide advanced LMR equipment and P-25 digital products primarily to government, public safety, and military applications, addressing mission-critical communication needs. Additionally, the RELM brand offers two-way communication solutions for commercial and industrial concerns, serving clients such as hotels, construction firms, schools, and transportation services.

AI Analysis | Feedback

Here are 1-3 brief analogies to describe BK Technologies (BKTI):

  • A niche competitor to Motorola Solutions, focused on providing robust two-way radios and communication systems for government, public safety, and industrial customers.
  • The "rugged walkie-talkie" company for first responders and heavy industry, much like a specialized version of Motorola Solutions.

AI Analysis | Feedback

  • Two-way Land Mobile Radios (LMR): Wireless communication devices primarily used by professionals in government, public safety, military, and various commercial sectors for two-way voice communication.
  • Repeaters: Electronic devices designed to receive weak signals and retransmit them at a higher power to extend communication range.
  • Base Stations: Fixed radio transceivers that serve as central communication points for mobile radios within a specific coverage area.
  • Related Components and Subsystems: Essential parts and integrated units that support and enhance the functionality of their core wireless communication products.

AI Analysis | Feedback

BK Technologies (BKTI) sells its products primarily to other organizations and entities, rather than directly to individuals or specific large public companies for resale. Based on the company description, its major customers fall into the following categories:

  • Government, Public Safety, and Military Agencies: This includes various federal, state, and local government bodies, public safety organizations (such as police, fire, and emergency medical services), and military applications.
  • Commercial and Industrial Concerns: This broad category encompasses businesses and organizations in sectors such as hotels, construction firms, schools, and transportation services.

AI Analysis | Feedback

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AI Analysis | Feedback

John M. Suzuki President & Chief Executive Officer, Board Director John Suzuki was appointed CEO of BK Technologies in July 2021. He brings over 35 years of executive-level experience in the mobile communications industry, spanning sales, marketing, operations, product development, and supply chain. Before joining BK Technologies, he served as President and CEO of EF Johnson Technologies, a division of JVCKENWOOD, where he led a doubling of revenue during his four-year tenure. His previous roles include Senior Vice President of Sales at Avtec Incorporated, Vice President of Sales and Marketing at Ultra Electronics 3eTI, and Senior Vice President of Sales at EF Johnson, where he significantly grew state, local, and international businesses. Earlier in his career, he was Vice President, Supply for Ericsson, managing a 400-person team responsible for over $1 billion in revenues, and began his career as a Radio System Engineer at Motorola Canada. Scott A. Malmanger Chief Financial Officer and Secretary Scott Malmanger currently serves as the Chief Financial Officer and Secretary of BK Technologies. He regularly participates in company earnings calls and has been mentioned in recent company announcements regarding executive compensation. Branko Avanic, PhD Chief Technology Officer Dr. Branko Avanic is the Chief Technology Officer at BK Technologies, with over 30 years of experience in leading-edge product development within the Land Mobile Radio (LMR) industry. He oversees all hardware and software engineering activities at the company, including product architecture and strategic technology planning. Prior to his role at BK Technologies, Dr. Avanic held senior positions at Motorola Solutions, including Director and Head Architect of Devices Engineering. James Teel General Manager, Solutions Business James Teel is the General Manager of the Solutions Business at BK Technologies. He possesses over 40 years of experience in the wireless communications industry, with expertise in product development, business strategy, and public safety communications. In his current role, Mr. Teel leads the company's Solutions business unit, which focuses on Software-as-a-Service (SaaS) and traditional software products designed to enhance mission-critical communications. Stephen Theisen Senior Vice President & General Manager, Land Mobile Radio Business Stephen Theisen serves as the Senior Vice President and General Manager of the Land Mobile Radio (LMR) Business at BK Technologies. He is a 25-year veteran of the LMR industry, known for his commitment to delivering mission-critical communication solutions for first responders and public safety agencies. Mr. Theisen has held various leadership roles in sales and marketing at BK Technologies.

AI Analysis | Feedback

Here are the key risks to BK Technologies' business:

  1. Reliance on Government Clients: A substantial portion of BK Technologies' sales comes from U.S. government agencies, including federal, state, and municipal entities. For example, sales to the U.S. Government represented approximately 38% of total sales in 2024 and 49% in 2023. This reliance makes the company vulnerable to government budget cuts, changes in spending priorities, or deferment of purchases by these key customers, which could materially impact its financial performance.
  2. Competition and Potential Technological Disruption: BK Technologies operates in the public safety communications sector, which is subject to increasing competition and the constant threat of technological obsolescence. While their traditional Land Mobile Radio (LMR) products are vital for direct radio communications, there is an ongoing concern that newer technologies, such as LTE/5G cellular solutions, could eventually replace or significantly disrupt the LMR market. Although currently viewed as complementary, continued advancements in cellular technology could pose a long-term challenge to the company's core business.
  3. Product Development and Execution Risk: BK Technologies' future growth is significantly tied to the successful development and launch of new products, such as the upcoming BKR9500 mobile radio, which is a complex engineering project slated for launch in the first half of 2027. Delays, technical issues, or higher-than-expected development costs associated with such critical product launches could harm the company's credibility with customers, impact reported earnings, and hinder its ability to achieve strategic growth targets, including its Vision 2030 objectives to double revenue.

AI Analysis | Feedback

The clear emerging threat for BK Technologies is the increasing adoption and technological advancement of **Push-to-Talk over Cellular (PoC)** solutions. PoC leverages commercial cellular networks (like 4G LTE and 5G) to provide two-way radio functionality, offering an alternative to traditional Land Mobile Radios (LMR).

This threat is particularly pertinent to BK Technologies' RELM branded products, which cater to commercial and industrial concerns such as hotels, construction firms, schools, and transportation services. For these users, PoC offers several advantages including potentially lower infrastructure costs (by leveraging existing cellular networks), broader geographical coverage in some areas, and the ability to integrate with other smartphone functionalities and data services. While traditional LMR still holds significant advantages for mission-critical public safety and military applications (due to dedicated spectrum, direct mode communication, and superior reliability in challenging environments), the continuous improvement in cellular network resilience and PoC application capabilities poses a competitive challenge, particularly for the commercial segment where cost and flexibility can be primary drivers.

AI Analysis | Feedback

The addressable market for BK Technologies' main products and services primarily revolves around the Land Mobile Radio (LMR) market, especially within government, public safety, and military applications, including P25 digital products, as well as two-way communications for commercial and industrial sectors.

Global Land Mobile Radio (LMR) Market

The global Land Mobile Radio (LMR) market was valued at approximately USD 25.24 billion in 2023 and is projected to reach USD 69.11 billion by 2032, growing at a Compound Annual Growth Rate (CAGR) of 11.84% from 2024 to 2032. Another estimate indicates the global LMR market size was USD 30.4 billion in 2024 and is projected to reach USD 101.9 billion by 2034, with a CAGR of 13.2% during the forecast period. The digital segment dominates this market, driven by superior voice clarity, data capabilities, and enhanced security features.

U.S. Land Mobile Radio (LMR) Market

In the United States, the LMR market was valued at USD 6.60 billion in 2023 and is expected to grow to USD 15.56 billion by 2032, exhibiting a CAGR of 9.99%. North America held the largest revenue share of approximately 38% in the global LMR market in 2023. The U.S. market is significantly driven by government investments in public safety communications, smart city expansions, and the demand for resilient, mission-critical communication systems.

U.S. P25 Public Safety Land Mobile Radio Systems Market

Specifically for P25 digital products, which are crucial for public safety, the U.S. P25 Public Safety Land Mobile Radio Systems Market was valued at USD 415.25 million in 2023. This market is anticipated to reach USD 935 million by 2033, demonstrating a CAGR of 8.46% from 2023 to 2033. The public safety segment is expected to maintain the largest market share within this sector, with significant demand for reliable communication systems in emergency situations.

Broader Two-Way Radio Equipment Market

For the broader two-way radio equipment market, which includes LMR, the global market size was estimated at USD 8.78 billion in 2024 and is projected to grow to USD 18.9 billion by 2035, at a CAGR of 7.22% from 2025 to 2035. Public safety is the dominant application segment, accounting for 45% of the market share, followed by commercial (30%) and industrial (25%) sectors.

AI Analysis | Feedback

Here are 3-5 expected drivers of future revenue growth for BK Technologies (BKTI) over the next 2-3 years:

  • Continued Demand for BKR9000 Multiband Radio: The BKR9000 multiband handheld radio has been a significant driver of revenue and margin growth, with strong order activity from state and local agencies and expanded penetration among Tier 2 and Tier 3 first responders. This product is expected to continue driving growth.
  • Launch of BKR9500 Mobile Radio: BK Technologies plans to launch the BKR9500 mobile radio in the first half of 2027. This new product is anticipated to contribute significantly to future revenue, particularly through in-vehicle mobile sales, and is a key part of the company's Vision 2030 growth plan.
  • Expansion of Market Share: The company is actively working to expand its market share within the public safety communications sector, targeting a broad range of agencies. Management has outlined a Vision 2030 initiative that aims to double revenues and further increase market share through continued product adoption and strategic execution.
  • Strategic Product Development and Innovation: Beyond specific product launches, BK Technologies is committed to continued investment in product development and innovation across its portfolio. This focus aims to enhance its competitive offerings and drive sustainable long-term growth.
  • Benefits from Outsourced Manufacturing and Cost Efficiencies: The strategic outsourcing of manufacturing operations and ongoing cost reduction initiatives, while directly impacting gross margins, indirectly support revenue growth by improving profitability and freeing up capital for investment in new product development and market expansion.

AI Analysis | Feedback

Share Repurchases

  • BK Technologies authorized a share repurchase program of up to $5 million in common shares on December 21, 2021.
  • From October 1, 2025, to December 31, 2025, the company repurchased 19,135 shares for $1.25 million, completing a portion of the previously announced buyback.
  • Approximately 19,000 shares of common stock were repurchased during Q4 2025 under its Rule 10b5-1 program.

Share Issuance

  • The BK Technologies Corporation 2025 Incentive Compensation Plan and Employee Stock Purchase Plan (ESPP) were approved by stockholders on June 18, 2025, reserving 500,000 shares of common stock for issuance under the 2025 Plan.

Inbound Investments

  • As of January 30, 2026, The Vanguard Group disclosed a 5.11% passive ownership stake in BK Technologies Corp.
  • Vanguard Group Inc. increased its stake in BK Technologies by 6.6% during Q3 2025, holding 180,099 shares valued at $15,215,000.
  • Balentine LLC acquired 89,248 shares of BK Technologies in Q3 2025, valued at approximately $7.54 million, representing about 2.39% of the company.

Capital Expenditures

  • BK Technologies capitalized approximately $2.1 million in 2025 and $1.3 million in 2024 for the development of its BKR9500 mobile radio.
  • The company invested $359,000 in capital expenditures during Q3 2025.
  • Development costs for the BKR 9500 mobile radio will be expensed in 2026, which is projected to reduce reported EPS by approximately $0.50.

Better Bets vs. BK Technologies (BKTI)

Peer Outperformance in Communications Equipment

BKTI has outperformed 86% of its 35 Communications Equipment peers over 5Y. Communications Equipment ranks 4th of 12 industries in Information Technology by median 5Y return.
Share of Communications Equipment constituents that BKTI has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
38%
of 37 industry peers · -8.4% return
3Y
78%
of 36 industry peers · 388.8% return
5Y
86%
of 35 industry peers · 378.3% return
No Communications Equipment peer with a comparable growth profile has beaten BKTI by more than 20pp over 5Y.
Median price return by industry across the Information Technology sector, ranked by 5Y. Communications Equipment is BKTI's own industry. Use this to see which corners of the sector have carried the returns.
Industry Names 1Y med3Y med5Y med Top 3 by 5Y
Electronic Manufacturing Services 10 17.2%109.4%187.6% FLEX 488% · TTMI 419% · JBL 311%
Technology Distributors 9 52.3%67.5%72.9% AVT 148% · SNX 123% · CNXN 99%
Electronic Components 24 16.4%69.6%35.2% CLS 2134% · BELFA 1016% · APH 318%
Communications Equipment ← 36 8.7%75.7%31.6% LITE 609% · AAOI 586% · ANET 445%
Semiconductor Materials & Equipment 28 42.7%55.4%31.5% AXTI 418% · LRCX 289% · KLAC 284%
Electronic Equipment & Instruments 27 -2.2%28.0%4.3% PI 130% · OSIS 116% · CXT 71%
Semiconductors 55 2.3%45.5%1.3% MU 1027% · NVDA 575% · AVGO 548%
Technology Hardware, Storage & Peripherals 21 7.9%85.9%-14.2% WDC 691% · DELL 652% · STX 574%
Internet Services & Infrastructure 6 3.5%45.5%-20.9% GDDY 58% · VRSN 40% · DOCN -20%
IT Consulting & Other Services 30 -18.2%1.2%-26.5% APLD 303% · IBM 155% · GIB -8%
Application Software 126 -9.9%-6.3%-50.0% PLTR 549% · AGYS 157% · FROG 144%
Systems Software 70 -8.4%24.1%-51.9% ZETA 255% · CRWD 245% · CVLT 146%
Median of constituents with a full price history over each window. Top names are limited to companies above $2B market cap.

Latest Trefis Analyses

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Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

BKTIMSILHXVSATCMTLRELLMedian
NameBK Techn.Motorola.L3Harris.Viasat Comtech .Richards. 
Mkt Price67.05498.90257.0066.551.2419.6466.80
Mkt Cap0.382.746.59.10.00.34.7
Rev LTM9112,23623,3334,6262502392,438
Op Inc LTM163,0792,494109-171062
FCF LTM182,6773,641578220300
FCF 3Y Avg112,4412,441-21-2147
CFO LTM212,9744,1851,592375815
CFO 3Y Avg132,7022,8921,114-88564

Growth & Margins

BKTIMSILHXVSATCMTLRELLMedian
NameBK Techn.Motorola.L3Harris.Viasat Comtech .Richards. 
Rev Chg LTM15.7%10.3%7.3%1.3%-17.0%13.9%8.8%
Rev Chg 3Y Avg9.1%8.2%7.8%22.5%-21.0%-0.1%8.0%
Rev Chg Q10.6%13.3%7.1%-1.2%-8.6%18.9%8.9%
QoQ Delta Rev Chg LTM2.5%3.1%1.7%-0.3%-2.3%4.5%2.1%
Op Inc Chg LTM38.0%10.6%8.6%198.4%14.0%198.0%26.0%
Op Inc Chg 3Y Avg133.7%15.1%12.0%-58.5%-54.6%212.4%13.6%
Op Mgn LTM17.9%25.2%10.7%2.4%-6.8%4.1%7.4%
Op Mgn 3Y Avg12.7%25.1%10.3%-5.7%-5.2%1.8%6.0%
QoQ Delta Op Mgn LTM-0.6%0.3%0.6%0.0%-19.3%1.6%0.2%
CFO/Rev LTM23.1%24.3%17.9%34.4%15.0%2.2%20.5%
CFO/Rev 3Y Avg15.8%24.0%13.0%24.2%0.7%3.6%14.4%
FCF/Rev LTM20.4%21.9%15.6%12.5%8.9%0.1%14.1%
FCF/Rev 3Y Avg12.6%21.7%10.9%-0.4%-3.0%1.7%6.3%

Valuation

BKTIMSILHXVSATCMTLRELLMedian
NameBK Techn.Motorola.L3Harris.Viasat Comtech .Richards. 
Mkt Cap0.382.746.59.10.00.34.7
P/S2.86.82.02.00.11.22.0
P/Op Inc15.526.918.783.9-2.229.522.8
P/EBIT15.525.815.819.39.529.517.6
P/E18.538.822.9-310.5-1.033.820.7
P/CFO12.027.811.15.71.054.811.6
Total Yield5.4%3.5%6.3%-0.3%-97.4%4.2%3.8%
Dividend Yield0.0%0.9%2.0%0.0%0.1%1.2%0.5%
FCF Yield 3Y Avg4.1%3.6%5.3%-12.0%-5.4%2.5%3.0%
D/E0.00.10.20.85.90.00.2
Net D/E-0.10.10.20.64.9-0.10.1

Returns

BKTIMSILHXVSATCMTLRELLMedian
NameBK Techn.Motorola.L3Harris.Viasat Comtech .Richards. 
1M Rtn-11.7%9.6%8.5%-4.6%-0.8%4.6%1.9%
3M Rtn-14.1%14.2%-9.7%-17.9%-27.9%-6.1%-11.9%
6M Rtn-28.4%15.7%-14.2%-1.1%-67.7%30.8%-7.7%
12M Rtn-8.3%28.0%-10.3%79.2%-58.2%88.2%9.8%
3Y Rtn389.4%72.1%46.6%236.1%-90.2%81.1%76.6%
1M Excs Rtn-10.1%12.6%11.2%-7.3%2.4%6.3%4.4%
3M Excs Rtn-12.2%7.3%-9.0%-17.0%-26.1%-3.2%-10.6%
6M Excs Rtn-31.1%12.9%-16.9%-3.9%-70.5%28.0%-10.4%
12M Excs Rtn-19.9%18.4%-19.8%62.9%-69.7%73.9%-0.7%
3Y Excs Rtn349.5%4.5%-24.6%183.3%-171.1%-2.8%0.9%

Comparison Analyses

null

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Land Mobile Radio (LMR) Products and Solutions86777451 
Single segment    45
Total8677745145


Operating Income by Segment
$ Mil20252024202319961995
Land Mobile Radio (LMR) Products and Solutions168-1  
Other Industries   -1-1
Paper Manufacturing   01
Wireless equipment   21
Specialty Manufacturing    -1
Total168-11-0


Net Income by Segment
$ Mil202520242023
Land Mobile Radio (LMR) Products and Solutions148-2
Total148-2


Assets by Segment
$ Mil19961995
Wireless equipment3330
Paper Manufacturing1213
Other Industries22
Specialty Manufacturing 5
Total4751


Price Behavior

Price Behavior
Market Price$66.97 
Market Cap ($ Bil)0.3 
First Trading Date09/07/1984 
Distance from 52W High-30.9% 
   50 Days200 Days
DMA Price$71.88$80.25
DMA Trenddowndown
Distance from DMA-6.8%-16.5%
 3M1YR
Volatility33.5%46.0%
Downside Capture191.79126.52
Upside Capture132.05102.54
Correlation (S&P 500)40.4%30.1%
BKTI Betas & Captures as of 10/31/2026

 1M2M3M6M1Y3Y
Beta2.941.871.190.931.071.25
Up Beta2.200.090.100.511.140.98
Down Beta1.972.301.230.510.791.29
Up Capture302%199%103%67%100%491%
Bmk +ve Days12182862130427
Stock +ve Days11233262126371
Down Capture344%198%189%156%118%105%
Bmk -ve Days10253664121325
Stock -ve Days11203264125373

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with BKTI
BKTI-9.5%46.0%-0.09-
Sector ETF (XLK)17.5%27.3%0.5629.9%
Equity (SPY)13.2%12.9%0.6828.9%
Gold (GLD)1.0%28.8%0.0316.5%
Commodities (DBC)35.9%21.2%1.34-8.3%
Real Estate (VNQ)14.3%14.1%0.704.8%
Bitcoin (BTCUSD)-28.2%43.4%-0.6515.1%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with BKTI
BKTI40.3%69.3%0.77-
Sector ETF (XLK)18.1%26.2%0.6224.0%
Equity (SPY)12.5%17.2%0.5525.6%
Gold (GLD)17.3%19.1%0.734.4%
Commodities (DBC)8.0%19.6%0.298.6%
Real Estate (VNQ)1.8%18.9%-0.0114.9%
Bitcoin (BTCUSD)5.5%51.5%0.2911.1%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with BKTI
BKTI12.7%65.1%0.46-
Sector ETF (XLK)23.4%25.2%0.8516.6%
Equity (SPY)15.4%18.0%0.7318.3%
Gold (GLD)11.9%16.5%0.591.8%
Commodities (DBC)7.4%18.1%0.3310.9%
Real Estate (VNQ)5.7%20.7%0.2311.5%
Bitcoin (BTCUSD)61.0%66.2%1.014.4%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date10152026
Short Interest: Shares Quantity0.2 Mil
Short Interest: % Change Since 9302026-4.4%
Average Daily Volume0.0 Mil
Days-to-Cover Short Interest3.8 days
Basic Shares Quantity3.8 Mil
Short % of Basic Shares5.1%

Earnings Returns History

Updated 10/13/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/13/2026-2.1%-0.4%-6.8%
5/14/2026-3.8%-3.6%-4.3%
3/12/2026-7.0%-5.3%12.7%
11/6/202512.2%3.0%-7.6%
8/14/202542.7%48.2%64.7%
5/13/2025-8.1%1.5%-7.1%
3/27/20259.3%51.2%49.0%
11/14/202411.9%20.7%26.9%
...
SUMMARY STATS   
# Positive131212
# Negative121313
Median Positive4.6%13.8%14.4%
Median Negative-5.4%-5.3%-7.6%
Max Positive42.7%51.2%69.1%
Max Negative-14.8%-32.3%-33.2%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/13/2026-2.1%-0.4%-6.8%
5/14/2026-3.8%-3.6%-4.3%
3/12/2026-7.0%-5.3%12.7%
11/6/202512.2%3.0%-7.6%
8/14/202542.7%48.2%64.7%
5/13/2025-8.1%1.5%-7.1%
3/27/20259.3%51.2%49.0%
11/14/202411.9%20.7%26.9%
8/8/20249.7%46.7%69.1%
5/9/2024-2.7%6.2%1.5%
3/14/20246.5%22.6%20.1%
11/9/2023-3.0%-2.4%-8.8%
8/10/2023-14.8%-32.3%-8.0%
5/4/20230.8%-2.3%-2.7%
3/16/20231.4%-7.8%-8.4%
1/4/2023-10.0%-1.2%16.0%
11/3/2022-1.2%-10.1%10.5%
8/11/2022-8.0%-9.9%-11.8%
5/12/20221.3%3.9%5.6%
3/17/20224.6%6.9%-6.3%
11/12/20210.4%-15.7%-33.2%
8/12/2021-1.2%-3.7%-6.5%
5/13/2021-11.8%-13.2%-29.7%
3/3/20214.4%24.9%6.2%
11/12/20201.7%1.7%3.3%
SUMMARY STATS   
# Positive131212
# Negative121313
Median Positive4.6%13.8%14.4%
Median Negative-5.4%-5.3%-7.6%
Max Positive42.7%51.2%69.1%
Max Negative-14.8%-32.3%-33.2%

SEC Filings

Expand for More
Report DateFiling DateFiling
06/30/202608/13/202610-Q
03/31/202605/14/202610-Q
12/31/202503/12/202610-K
09/30/202511/06/202510-Q
06/30/202508/14/202510-Q
03/31/202505/13/202510-Q
12/31/202403/27/202510-K
09/30/202411/14/202410-Q
06/30/202408/08/202410-Q
03/31/202405/09/202410-Q
12/31/202303/14/202410-K
09/30/202311/09/202310-Q
06/30/202308/10/202310-Q
03/31/202305/04/202310-Q
12/31/202203/16/202310-K
09/30/202211/04/202210-Q
Collapse to Preview
Report DateFiling DateFiling
06/30/202608/13/202610-Q
03/31/202605/14/202610-Q
12/31/202503/12/202610-K
09/30/202511/06/202510-Q
06/30/202508/14/202510-Q
03/31/202505/13/202510-Q
12/31/202403/27/202510-K
09/30/202411/14/202410-Q
06/30/202408/08/202410-Q
03/31/202405/09/202410-Q
12/31/202303/14/202410-K
09/30/202311/09/202310-Q
06/30/202308/10/202310-Q
03/31/202305/04/202310-Q
12/31/202203/16/202310-K
09/30/202211/04/202210-Q
06/30/202208/11/202210-Q
03/31/202205/12/202210-Q
12/31/202103/17/202210-K
09/30/202111/12/202110-Q
06/30/202108/12/202110-Q
03/31/202105/13/202110-Q
12/31/202003/03/202110-K
09/30/202011/12/202010-Q
06/30/202008/05/202010-Q
03/31/202005/13/202010-Q
12/31/201903/04/202010-K
09/30/201911/06/201910-Q

Recent Forward Guidance

Updated 11/2/2026

Latest: Q2 2026 Earnings Reported 8/14/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2026 RevenueReported 90.00 Mil 0.0% AffirmedGuidance: 90.00 Mil for 2026
2026 Gross MarginReported50.0%50.0%  0.0%AffirmedGuidance: 50.0% for 2026
2026 GAAP Diluted EPSReported3.153.15 0.0% AffirmedGuidance: 3.15 for 2026
2026 Non-GAAP Adjusted Diluted EPSReported 3.55 0.0% AffirmedGuidance: 3.55 for 2026


Prior: Q1 2026 Earnings Reported 5/14/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2026 RevenueReported 90.00 Mil 0 AffirmedGuidance: 90.00 Mil for 2026
2026 Gross ProfitCalculated45.00 Mil45.00 Mil45.00 Mil  Rev x Gross Margin
2026 Gross MarginReported 50.0%  0AffirmedGuidance: 50.0% for 2026
2026 GAAP EPSReported 3.15 0 AffirmedGuidance: 3.15 for 2026
2026 Non-GAAP Adjusted EPSReported 3.55 0 AffirmedGuidance: 3.55 for 2026

Q4 2025 Earnings Reported 3/12/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2026 RevenueReported 90.00 Mil    
2026 Gross ProfitCalculated45.00 Mil45.00 Mil45.00 Mil  Rev x Gross Margin
2026 Gross MarginReported 50.0%  3.0%Higher NewActual: 47.0% for 2025
2026 GAAP EPSReported 3.15 0 Same NewActual: 3.15 for 2025
2026 Non-GAAP Adjusted EPSReported 3.55 -6.6% Lower NewActual: 3.8 for 2025

Q3 2025 Earnings Reported 11/6/2025

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2025 Revenue GrowthReported 8.0%  1.0%AffirmedGuidance: 7.0% for 2025
2025 Gross MarginReported 47.0%  0.0%AffirmedGuidance: 47.0% for 2025
2025 GAAP EPSReported 3.15 0.0% AffirmedGuidance: 3.15 for 2025
2025 Non-GAAP Adjusted EPSReported 3.8 0.0% AffirmedGuidance: 3.8 for 2025

Insider Activity

Updated 6/12/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Suzuki, John MCEO & PresidentDirectSell612202685.0222318,9593,391,914Form
2Suzuki, John MCEO & PresidentDirectSell612202682.562,777229,2683,312,208Form
3Avanic, BrankoCTODirectSell909202568.412,000136,811750,341Form
4Avanic, BrankoCTODirectSell909202568.892,031139,919893,459Form
5Ohara, Ellen O DirectSell828202571.721007,172146,299Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Suzuki, John MCEO & PresidentDirectSell612202685.0222318,9593,391,914Form
2Suzuki, John MCEO & PresidentDirectSell612202682.562,777229,2683,312,208Form
3Avanic, BrankoCTODirectSell909202568.412,000136,811750,341Form
4Avanic, BrankoCTODirectSell909202568.892,031139,919893,459Form
5Ohara, Ellen O DirectSell828202571.721007,172146,299Form
6Suzuki, John MCEO & PresidentDirectSell822202570.003,000210,0003,002,720Form
7Ohara, Ellen O DirectSell819202564.1130019,233137,195Form

Investor Activity (13F)

Updated Nov 5, 2026
13F holdings as of Mar 31, 2026 (Q1 2026)

Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.

Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Breach Inlet Capital Management, LLC$11.3 Mil3.7%12ADD +711.0%13F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Breach Inlet Capital Management, LLC$11.3 Mil3.7%12ADD +711.0%13F
Active Manager
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Breach Inlet Capital Management, LLC$11.3 Mil3.7%12ADD +711.0%13F
Core Cache Last Updated: 11/4/2026