NAPCO Security Technologies Inc
NSSC—
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NAPCO Security Technologies Inc AI Insights
Informational only. Not investment advice.Snapshot
- Operating margin 26.9% TTM vs industry median 5.1% - 5x advantage with 51.6% EPS growth 3Y CAGR compounding returns.[Operating Margin]
- FCF of 53.7M TTM on 192M revenue (28% margin) with only 1.1M capex - near-zero reinvestment needed to sustain growth.[Free Cash Flow]
- Net cash position: 104.9M cash vs 5.3M debt (0.03 D/E) funds 3+ years of operations without external capital.[Debt to Equity]
Watch Triggers
- Operating Margin: Falls below 22% TTM — Margin compression would signal competitive pressure eroding pricing power thesis.
- EPS Growth 1Y: Decelerates below 15% — Current 35.7% growth justifies premium; slowdown invalidates valuation.
- Free Cash Flow: FCF margin drops below 20% — Capital-light model is core thesis; capex increase signals business model shift.
Bull Case
Capital-light compounder: 25.7% ROIC TTM with 104.9M cash (49% of assets) enables acquisitions or buybacks without dilution.
ROICCash and EquivalentsFree Cash Flow
Structural margin advantage: 56% gross margin and 27% operating margin TTM vs industry 5% creates durable pricing power.
Gross MarginOperating MarginNet Margin
Bear Case
Premium valuation: P/S 8.6x vs median 1.6x (5.3x premium) and P/E 34.7x leaves no margin for execution missteps.
P/S RatioP/E RatioP/B Ratio
Small scale risk: 192M revenue TTM vs 1.5B industry median limits pricing power and customer diversification.
Total RevenueEnterprise Value
Bull vs Bear Balance
AI-generated sentiment analysis based on fundamental metrics and market conditions.
55%
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Forward Thesis
Recurring revenue model drives margin expansion as SaaS-like monitoring fees scale on fixed cost base.
1-3yhigh
- 28% FCF margin with minimal capex needs
- ROIC 25.7% TTM reinvested at high returns
- Asset-light model (14M PPE on 213M assets)
EPS 3Y CAGR 51.2% vs revenue growthOperating margin 5x industry medianGross margin 56.2% TTM stable
Valuation Context
Caveats
Public Strategies Rankings
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NSSC Fundamentals
Administrative and Support and Waste Management and Remediation Services → Administrative and Support Services
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$1.43B | — | ||
$1.33B | — | ||
30 | — | ||
$192.03M | +2.9% | — | |
$1.32 | +0.8% | — | |
26.9% | -0.7% | — | |
24.7% | -1.2% | — | |
$53.66M | +8.5% | — | |
26.4% | -2.7% | — | |
Beta 5Y (Monthly) | unknown | — |
NSSC Dividend History
12 dividends
2026
$0.150003/12/26$0.1500
2025
$0.545012/12/25$0.1400
09/12/25$0.1400
06/12/25$0.1400
03/12/25$0.1250
2024
$0.450012/12/24$0.1250
09/12/24$0.1250
06/03/24$0.1000
02/29/24$0.1000
2023
$0.222511/30/23$0.0800
08/31/23$0.0800
05/19/23$0.0625
NSSC Stock Splits
5 stock splits
01/05/221:2 split
06/08/060.666667:1 split
12/29/050.666667:1 split
11/18/041:1.2 split
04/28/040.5:1 split
NSSC SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
02/02/26 | 12/31/25 | 10-Q | |
11/03/25 | 09/30/25 | 10-Q | |
08/25/25 | 06/30/25 | Unknown | |
05/05/25 | 03/31/25 | 10-Q | |
02/03/25 | 12/31/24 | 10-Q | |
11/04/24 | 09/30/24 | 10-Q | |
08/29/24 | 06/30/24 | 10-K | |
05/06/24 | 03/31/24 | 10-Q | |
02/05/24 | 12/31/23 | 10-Q | |
11/09/23 | 09/30/23 | 10-Q | |
09/08/23 | 06/30/23 | 10-K | |
05/08/23 | 03/31/23 | 10-Q | |
02/06/23 | 12/31/22 | 10-Q | |
11/07/22 | 09/30/22 | 10-Q | |
08/29/22 | 06/30/22 | 10-K | |
09/01/23 | 03/31/22 | 10-Q/A | |
05/17/22 | 03/31/22 | 10-Q | |
02/09/22 | 12/31/21 | 10-Q | |
09/01/23 | 12/31/21 | 10-Q/A | |
09/01/23 | 09/30/21 | 10-Q/A | |
11/08/21 | 09/30/21 | 10-Q | |
09/13/21 | 06/30/21 | 10-K | |
05/10/21 | 03/31/21 | 10-Q | |
02/09/21 | 12/31/20 | 10-Q | |
11/05/20 | 09/30/20 | 10-Q | |
09/15/20 | 06/30/20 | 10-K | |
05/07/20 | 03/31/20 | 10-Q | |
02/03/20 | 12/31/19 | 10-Q | |
11/08/19 | 09/30/19 | 10-Q | |
09/13/19 | 06/30/19 | 10-K | |
05/17/22 | 06/30/19 | 10-K/A | |
05/08/19 | 03/31/19 | 10-Q | |
02/08/19 | 12/31/18 | 10-Q | |
11/09/18 | 09/30/18 | 10-Q | |
09/13/18 | 06/30/18 | 10-K | |
05/08/18 | 03/31/18 | 10-Q | |
02/08/18 | 12/31/17 | 10-Q | |
11/08/17 | 09/30/17 | 10-Q | |
09/13/17 | 06/30/17 | 10-K | |
05/08/17 | 03/31/17 | 10-Q | |
02/06/17 | 12/31/16 | 10-Q | |
11/07/16 | 09/30/16 | 10-Q | |
09/08/16 | 06/30/16 | 10-K | |
05/10/16 | 03/31/16 | 10-Q | |
02/01/16 | 12/31/15 | 10-Q | |
11/09/15 | 09/30/15 | 10-Q | |
09/10/15 | 06/30/15 | 10-K | |
05/11/15 | 03/31/15 | 10-Q | |
02/09/15 | 12/31/14 | 10-Q | |
11/10/14 | 09/30/14 | 10-Q | |
09/15/14 | 06/30/14 | 10-K | |
05/07/14 | 03/31/14 | 10-Q | |
02/10/14 | 12/31/13 | 10-Q | |
11/12/13 | 09/30/13 | 10-Q | |
09/17/13 | 06/30/13 | 10-K | |
05/13/13 | 03/31/13 | 10-Q | |
02/12/13 | 12/31/12 | 10-Q | |
11/13/12 | 09/30/12 | 10-Q | |
09/21/12 | 06/30/12 | 10-K | |
05/14/12 | 03/31/12 | 10-Q | |
02/13/12 | 12/31/11 | 10-Q | |
11/09/11 | 09/30/11 | 10-Q | |
09/23/11 | 06/30/11 | 10-K | |
05/16/11 | 03/31/11 | 10-Q | |
02/14/11 | 12/31/10 | 10-Q | |
11/15/10 | 09/30/10 | 10-Q | |
10/14/10 | 06/30/10 | 10-K | |
05/17/10 | 03/31/10 | 10-Q | |
02/16/10 | 12/31/09 | 10-Q | |
11/16/09 | 09/30/09 | 10-Q | |
10/13/09 | 06/30/09 | 10-K | |
05/22/09 | 03/30/09 | 10-Q | |
02/09/09 | 12/31/08 | 10-Q | |
11/18/08 | 09/30/08 | NT 10-Q | |
09/30/08 | 06/30/08 | NT 10-K | |
05/12/08 | 03/30/08 | Unknown | -- |
02/15/08 | 12/31/07 | NT 10-Q | |
11/14/07 | 09/30/07 | NT 10-Q | |
09/28/07 | 06/30/07 | NT 10-K | |
05/10/07 | 03/30/07 | Unknown | -- |
02/09/07 | 12/31/06 | 10-Q | |
11/08/06 | 09/30/06 | 10-Q | |
09/25/06 | 06/30/06 | NT 10-K | |
05/10/06 | 03/30/06 | Unknown | -- |
02/14/06 | 12/31/05 | 10-Q | |
11/21/05 | 09/30/05 | NT 10-Q | |
09/29/05 | 06/30/05 | NT 10-K | |
05/13/05 | 03/30/05 | Unknown | -- |
02/11/05 | 12/31/04 | 10-Q | |
11/12/04 | 09/30/04 | 10-Q | |
09/27/04 | 06/30/04 | 10-K | |
05/07/04 | 03/30/04 | Unknown | -- |
02/13/04 | 12/31/03 | 10-Q | |
02/13/04 | 09/30/03 | NT 10-Q | |
02/09/04 | 06/30/03 | NT 10-K | |
05/15/03 | 03/30/03 | Unknown | -- |
02/14/03 | 12/31/02 | 10-Q | |
11/14/02 | 09/30/02 | 10-Q | |
10/04/02 | 06/30/02 | NT 10-K | |
05/15/02 | 03/30/02 | Unknown | -- |
02/14/02 | 12/31/01 | 10-Q | |
11/14/01 | 09/30/01 | 10-Q | |
09/28/01 | 06/30/01 | 10-K | |
05/15/01 | 03/30/01 | Unknown | -- |
02/14/01 | 12/31/00 | 10-Q | |
11/14/00 | 09/30/00 | 10-Q | |
09/28/00 | 06/30/00 | 10-K | |
05/15/00 | 03/30/00 | Unknown | -- |