M-tron: Increased Defense Spending Could Drive Growth Through 2026

  • M-tron Industries is well positioned to benefit from rising U.S. defense spending, with a robust pipeline and strong exposure to defense programs. Despite a Q1 earnings miss, MPTI's backlog grew 20%, and management expects gross margin expansion throughout the year, driven by new product ramp-ups. The Company's valuation is attractive, with high EBITDA and net margins and minimal tariff risk due to its primarily U.S.-based revenue.