BK Technologies Inc
🔔 Watch stock
Assessment
Our Rating
A journalistic assessment by our editorial team at the time of the deep dive — it rates the company, not the entry point. Not investment advice and not a solicitation to buy or sell.
Business model, numbers and balance sheet hold up to our review. Whether the current price supports an entry is a separate question — it hangs on the price, not on the company.
Why this colour
Green, because the quality of the business is documented: five years of rising gross margin up to 51.9 percent in the second quarter of 2026, two consecutive profitable years at $8.4 million and $13.5 million in net income, $29.9 million in cash with no debt as of June 30, 2026, and a management team that essentially delivered on its previous target framework. The falling reported profit in 2026 is an arithmetic problem, not a business problem — pre-tax income held steady at $4.003 million in the quarter. The objections still stand and belong on the table: 43.0 percent federal revenue in a single quarter and an unnamed buyer at 39.0 percent are genuine concentration, backlog has nearly halved, FCC certification of the BKR 9500 is pending, and with just under 3.8 million shares outstanding the stock trades thin and swings hard. The price — roughly $289 million in market capitalization on August 25, 2026 — already discounts part of the hoped-for growth; that is a price argument, not a quality argument, and it does not move this rating. The decision is yours.
What the thesis turns on
Assessment: Opportunities & Risks
BK Technologies is a profitable, debt-free niche manufacturer with a documented margin staircase from 19.3 to 51.9 percent and a record $29.9 million in cash as of June 30, 2026. Reported profit will still fall in 2026 — because of tax normalization and an accounting change, not weakness. What stays open is heavy dependence on U.S. federal agencies, a backlog cut nearly in half, and the pending FCC certification of its most important new device. Not investment advice.
Balance sheet & cash
As of June 30, 2026 the company carries $29.9 million in cash (December 31, 2025: $22.8 million) and $52.0 million in equity with no debt whatsoever; operating cash flow in the first half of 2026 was $7.5 million.
Growth & the margin staircase
Revenue from $44.1 million (2020) to $86.1 million (2025); gross margin from 19.3 percent (2022) through 30.0, 37.9 and 48.8 percent to 51.9 percent in the second quarter of 2026 — driven by the mix shift to multiband hardware and software, not by one-off items.
Government and customer concentration
29 percent of 2025 revenue and 38 percent of 2024 revenue came from U.S. federal agencies; the first quarter of 2026 reached 43.0 percent, and a single buyer ("Customer A") accounted for 39.0 percent alone. During the fall 2025 shutdown, federal customers asked in writing that shipments be held back.
Reported profit versus tax effects
The effective tax rate rose from 6.85 percent to 20.86 percent in the second quarter of 2026, with roughly 26 percent expected for the full year against 16 percent in 2025. Pre-tax income held steady at $4.003 million — the 2024 and 2025 record profits were flattered by minimal tax rates, and 2026 GAAP guidance ($3.15) sits below actual 2025 results ($3.44).
Product pipeline & FCC
The BKR 9500 can roughly double the addressable device market and drew more than 200 orders before certification — but FCC approval is still outstanding and has slipped from "2026" to early 2027, with deliveries not planned until the first half of 2027.
Worth Noting
Trigger for this analysis: the Form 10-Q for the quarter ended June 30, 2026, filed August 13, 2026, together with the earnings release (Form 8-K, Exhibit 99.1) of the same day.
As-of dates: annual and quarterly figures come from the fiscal 2025 Form 10-K (filed March 12, 2026) and the Forms 10-Q for the quarters ended March 31, 2026 and June 30, 2026. Price, market capitalization and valuation figures are as of August 25 to 26, 2026.
Not to be confused: "BK" is also a familiar shorthand for Burger King, which has nothing to do with this company, and these radios are not a Motorola product line. The company was named RELM Wireless Corporation through 2018 — older sources under that name refer to the same business (CIK 0000002186).
Stock Watch
This analysis is as of August 26, 2026. Stock Watch will tell you what's changed at BKTI since then.
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Price history
Chart
Interactive price chart (TradingView).
52-week range: 62.60 $ to 97.00 $ · Last price: 72.30 $ (As of: September 17, 2026)
Key figures
Key figures at a glance
Every figure we hold for this stock, grouped by topic. The question mark next to a label explains what the number means.
Basics
Performance
Technical Indicators
Calculated from the price history · as of 09/18/2026
Valuation
Profitability
Balance Sheet & Safety
Growth
Dividend
This stock currently pays no dividend.
Quality & Screener
Highlighted are things our editorial team noticed: green = stands out as strong, red = deserves a closer look. No single metric is a verdict on its own — always read it in context.
Comparison
Industry comparison
The stock alongside the largest companies in the same group. The median row is the middle value of the companies shown above — not of the whole industry.
Industry: Communication Equipment
| Company | Market cap ($B) | P/E | EV/EBITDA | Gross Margin % | EBIT Margin % | Sales Growth (Year) % | Perf. 1Y % |
|---|---|---|---|---|---|---|---|
| BK Technologies Inc BKTI | 0.3 | – | 13.0 | 51.0 | – | 12.5 | -1.8 |
| Cisco Systems Inc CSCO | 436.0 | 35.3 | 22.8 | 64.5 | 25.0 | 5.3 | 66.2 |
| Hewlett Packard Enterprise Co HPE | 78.0 | 57.4 | 14.2 | 36.6 | 8.7 | 14.1 | 152.6 |
| Motorola Solutions Inc MSI | 76.3 | 37.7 | 22.9 | 52.1 | 19.8 | 8.0 | -2.7 |
| Lumentum Holdings Inc LITE | 71.0 | 154.2 | 114.9 | 44.2 | 21.8 | 21.0 | 447.1 |
| Ciena Corp CIEN | 48.8 | 113.9 | 47.4 | 44.1 | 15.2 | 18.8 | 152.4 |
| Ubiquiti Networks Inc UI | 36.1 | – | 27.8 | 46.2 | 36.9 | 33.5 | -1.3 |
| Telefonaktiebolaget LM Ericsson B ERIC | 33.6 | 13.2 | 7.0 | 47.6 | 0.0 | -14.2 | 30.2 |
| Ast Spacemobile Inc ASTS | 24.4 | – | -2.3 | 38.9 | -1,014.0 | 1,505.2 | 52.3 |
| Median of companies shown | 48.8 | 47.5 | 22.8 | 46.2 | 17.5 | 14.1 | 52.3 |
Based on the most recently reported figures. Only stocks from the same trading venue are lined up, so the market caps are counted in one currency. Compare in a chart →
Fiscal years
Annual Figures
Fiscal years from the audited annual reports, oldest first. EBIT is the operating profit before interest and taxes; total assets are everything the company owns.
Revenue, operating income and net income per fiscal year $M
Revenue Operating income Net income
| Fiscal Year | Revenue ($M) | EBIT ($M) | Net Income ($M) | EPS ($) | Operating Cash Flow ($M) | Equity ($M) | Total Assets ($M) |
|---|---|---|---|---|---|---|---|
| 2016 | 51 | 4 | 3 | 0.95 | 11 | 36 | 43 |
| 2017 | 39 | -5 | -4 | -1.33 | -2 | 32 | 43 |
| 2018 | 49 | 2 | 0 | -0.07 | 5 | 28 | 39 |
| 2019 | 40 | -4 | -3 | -1.04 | -2 | 23 | 38 |
| 2020 | 44 | 1 | 0 | 0.08 | 4 | 24 | 39 |
| 2021 | 45 | -1 | -2 | -0.57 | -6 | 33 | 50 |
| 2022 | 51 | -11 | -12 | -3.44 | -9 | 20 | 49 |
| 2023 | 74 | -1 | -2 | -0.65 | 2 | 21 | 49 |
| 2024 | 77 | 8 | 8 | 2.25 | 11 | 30 | 52 |
| 2025 | 86 | 16 | 14 | 3.44 | 19 | 45 | 64 |
Quarters
Quarterly Figures
Each bar is one quarter, the last one is the most recent. Use the switch to step through the individual figures.
Revenue & Profit
Cash Flow
Balance Sheet
Margins
Per Share
Click the chart or tab into it, then use ← and → to step through the periods.
None of the selected stocks reports this metric. Pick another metric or switch between annual and quarterly.
· Total · per year
These companies report in different currencies — switch on “Indexed” or pick a margin for a fair comparison.
The figures could not be loaded right now.
Source: fundamental data
| Quarter | EPS (Earnings Per Share) | EPS YoY (%) | Sales ($M) | Sales YoY (%) | Net Margin (%) | OCF ($M) | FCF ($M) |
|---|---|---|---|---|---|---|---|
| 2024: Q4 | 0.98 | 1,161.00 | 18 | 9.90 | 20.40 | 3 | 3 |
| 2025: Q1 | 0.57 | 213.10 | 19 | 4.50 | 11.20 | 2 | 2 |
| 2025: Q2 | 1.00 | 124.80 | 21 | 4.50 | 17.70 | 4 | 4 |
| 2025: Q3 | 0.92 | 45.80 | 24 | 21.00 | 14.10 | 10 | 10 |
| 2025: Q4 | 1.06 | 8.20 | 22 | 20.00 | 19.70 | 3 | 3 |
| 2026: Q1 | 0.74 | 29.50 | 21 | 11.80 | 13.00 | 7 | 6 |
| 2026: Q2 | 0.79 | -21.00 | 23 | 10.40 | 13.70 | 1 | 0 |
What Do These Terms Mean?
- EPS (Earnings Per Share):
- Quarterly profit divided by the total share count — how much of the profit works out to a single share.
- YoY (Year over Year):
- Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
- Sales:
- All revenue for the quarter, before any costs are deducted — the top line of the income statement.
- Net Margin:
- What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
- OCF (Operating Cash Flow):
- The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
- FCF (Free Cash Flow):
- Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.
Screening
Appears in These Scanners
This stock currently matches 7 of our scanner strategies — each hit links to the scanner.
Best Hits
Growth
Quality & Balance Sheet
Momentum & Trend
Research
Only genuine hits from verified scanners count; pure ranking metrics (P/E, P/S, and similar, which just sort the whole universe) don't count as a hit. View all scanners
Outlook
Analysts & Price Target
Combined picture of the price targets and recommendations of every analyst covering the stock. Price targets are expectations for the next 12 months, not promises — and they often follow the price rather than predict it.
Distribution of Recommendations
Estimates by Fiscal Year
| Fiscal Year | EPS Estimate ($) | EPS Range ($) | Revenue Estimate ($M) | Expected Growth | Analysts |
|---|---|---|---|---|---|
| 12/31/2026 | 3.59 | 3.59 – 3.59 | 90 | -16.9% | 1 |
| 12/31/2027 | 4.22 | 4.22 – 4.22 | 104 | 17.5% | 1 |
Average of the analyst estimates for the coming fiscal years. The range shows how far the most optimistic and the most cautious estimate sit apart — the wider it is, the less certain the expectation.
Valuation
What is priced in?
Instead of guessing what the stock is worth, we turn the question around: what free cash flow growth has to happen for today’s market value to add up? The assumptions behind it can be moved.
Today’s market value implies roughly 2.8% growth in free cash flow per year over ten years (assumptions: discount rate 10.0%, terminal growth 2.5%).
| Free cash flow (last twelve months) | $19.6M |
|---|---|
| Market cap | $275.0M |
| Free cash flow in year ten | $26.0M |
| Terminal value as a share of market value | 49.8% |
For comparison: over the past five years free cash flow grew by 39.4% per year.
It shows which assumption is built into today’s price, not whether that assumption will hold. Every assumption can be changed with the sliders; the figures move with them.
A simplified model calculation — not a forecast and not a recommendation.
AI classification
AI Rating
Funkgeräte-Hersteller für Behördenfunk: KI taucht in sechs geprüften Berichten (10-K 2024/2025, vier 10-Q bis Q2 2026) nur als Cybersicherheits-Risikofloskel auf — kein KI-Produkt, kein wesentlicher KI-Einsatz, keine benannte KI-Bedrohung.
View the full file — quotes, sources, reviewed filings
Filings Reviewed: 10-Q 2026-08-13 · 10-Q 2026-05-14 · 10-K 2026-03-12 · 10-Q 2025-11-06 · 10-Q 2025-08-14 · 10-K 2025-03-27
Rated on August 27, 2026 · How the Rating Is Built
Growth
Growth Score
Ten checks against the annual reports — each one passed counts a point.
- Revenue grows by more than 15% a year over three years 19.1%
- More than 10% revenue growth is expected for the coming year 14.8%
- Share count grows by less than 3% a year 5.2%
- Revenue growth plus cash-flow margin add up to at least 40 ("Rule of 40") 33.8%
- Gross margin at 40% or higher and without meaningful erosion 48.8%
- Goodwill from acquisitions does not grow faster than revenue 0.0%
- Net debt below twice EBITDA 21 m net cash
- Operating cash flow covers the profits of the last three years 13 m
- Return on capital at 15% or higher, or up versus two years ago 30.7%
- Insiders hold at least 10% or are net buyers 18.6%
A criterion without figures counts neither as passed nor as failed; a score is only produced from 7 judgeable criteria upwards. Source: fundamental data. All ten criteria in detail
Quality check
AAQS
8/10The AAQS (AlleAktien Quality Score) checks 10 quality criteria on growth, profitability, and balance-sheet strength — per the methodology developed and published by AlleAktien, calculated by us from our own fundamental data. A stock counts as a quality stock from 9 out of 10 points. Where a company has a shorter listing history, we calculate over the fiscal years available (at least five).
- Sales growth 10Y > 5% 6.1%
- Exp. sales growth 3Y > 5% 9.6%
- EBIT growth 10Y > 5% 15.7%
- Exp. EBIT growth 3Y > 5% 10.8%
- Net debt < 4x EBIT -1.3x
- EBIT positive, 10Y straight 5
- Max. EBIT decline < 50% 100.0%
- Return on equity > 15% 32.8%
- ROCE > 15% 30.7%
- Expected return > 10% 18.2%
View stocks with the full AAQS score · Read the methodology at AlleAktien
Source: fundamental data
The company
About the Company
BK Technologies Corporation befasst sich über ihre Tochtergesellschaft BK Technologies, Inc. mit dem Entwurf, der Herstellung und der Vermarktung drahtloser Kommunikationsprodukte in den USA und international.
- Employees
- 115
- Headquarters
- West Melbourne, FL
- Address
- 7100 Technology Drive, 32904 West Melbourne, United States
- Phone
- 321 984 1414
- Website
- bktechnologies.com
- IPO Date
- 06/25/1990
- ISIN
- US05587G2030
- Stock Split
- 1:5 on 04/24/2023
- Stock Split
- 1:6 on 06/14/1991
- Stock Split
- 2:1 on 09/16/1983
Management
| Name | Title | Birth Year |
|---|---|---|
| John M. Suzuki | President, CEO & Director | 1965 |
| Scott A. Malmanger C.P.A. | CFO, Principal Accounting Officer & Company Secretary | 1956 |
| Branko Avanic Ph.D. | Chief Technology Officer | 1961 |
| Cindy Kippley M.B.A., P.M.P. | Vice President of Business Operations & Marketing | – |
| Stephen Theisen | Senior VP & GM of LMR Business | – |
| Lorenzo Cruger Jr. | Senior Vice President of Engineering | – |
| Tina Boucher C.P.A., M.B.A. | Senior VP & Controller | – |
| James Teel | General Manager of Solutions | – |
| Carlos Camps | Vice President of Software Engineering | – |
Executives per the latest required filings; titles kept in their original language. Source: fundamental data.
Filings
Company Filings (8-K)
An 8-K is the filing a US company must use to disclose material events immediately — takeovers, changes at the top, major contracts or payment troubles, for instance. The links open the original document at the US Securities and Exchange Commission (SEC).
Data as of: September 17, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.