TPCS | Market Cap: $47.1M (07/13/26)
Industry:
Aerospace & Defense

DESCRIPTION

TechPrecision is a build-to-print contract manufacturer that produces large-scale, precision metal structural components for the U.S. defense industry. The company manufactures components according to customer specifications using specialty alloys such as nickel, inconel, and stainless steel. TechPrecision operates through two subsidiaries: Ranor and Stadco. Ranor focuses on components for the Navy's Virginia-class and Columbia-class submarine programs and utilizes customer-funded equipment grants to modernize production. Stadco produces flight-critical components for military aircraft and helicopters, including the F-15EX and CH-53K. Defense contracts account for nearly all revenue, with primary customers including prime contractors such as Boeing, Sikorsky, and Electric Boat. The business model relies on fixed-price contracts where profitability depends on labor efficiency and accurate cost estimation. TechPrecision prioritizes securing repeat part numbers on long-term programs of record, which offer better predictability than one-off or first-article work. Management is currently focused on shifting the contract mix toward these repeat parts and remediating loss-making legacy contracts at Stadco. The company also aims to secure additional customer-funded capital investments to expand manufacturing capacity without increasing internal capital expenditures.

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