One-glance verdict
Within fair range
$37.96 our estimate vs market $37.80
0% below our estimate
Fundamentals snapshot
CompX International Inc.
CIX · ASE · Industrials · Security & Protection Services
Current price
$37.80
52-week range
$20.29 - $40.29
Market cap
$466.33M
Balance sheet
Healthy
7.00x Adequate
Net cash $51.42M. Interest coverage shows how many times profit covers the interest bill.
What stands out
3 Rewards
1 Risk
3 rewards · 1 risks
- Reward Revenue grew 2.2% last year.
- Reward Returns 15.0% on equity, ahead of 66% of its peers.
- Reward Free cash flow was positive in 10/10 years.
- Risk Stock trades 44.5% above its 5-year average P/E.
What this company does
CompX International Inc.
CompX International makes and sells products for two very different industries: security locks for items like office cabinets and medical storage, and high-performance parts for recreational boats. The company earns revenue (money from sales) from both of these markets, meaning its success isn't tied to the health of just one. This business balance can provide stability even if one area, like new boat sales, has a slow year.
How the company got here
CompX International was formed in 1993 and became a publicly traded company in 1998. It grew by acquiring other companies with long histories, such as Chicago Lock, which was founded in 1920. Over the years, the company has focused on making specialized, high-quality components for other manufacturers. In 2012, it sold its furniture components business to concentrate on its two main segments today: security products and marine components. The company is majority-owned by NLI Holdings, Inc.
What it actually does
CompX International manufactures and sells a range of security products and parts for boats. You might not buy their products directly, but they are important components in items you use every day, like the locks on mailboxes, office desks, and medical cabinets. They also make high-performance parts for ski and wakeboard boats, such as exhaust systems and steering controls. The company primarily sells these components to other businesses that make the final products, known as original equipment manufacturers (OEMs).
Security Products
This is the company's largest business line, making up most of its sales. This segment produces a wide variety of mechanical and electronic locks. These are used in many places, including office furniture, tool storage cabinets, mailboxes, and secure boxes for medical supplies. For example, the lock on a file cabinet or a narcotics box in a hospital might be made by CompX. They sell these locking systems to the companies that manufacture those end products.
Marine Components
This part of the business focuses on making high-end parts for recreational boats, especially for ski, wakeboard, and other performance boats. Products include stainless steel exhaust systems, gauges to measure speed and engine RPM, and throttle controls. They also produce hardware like steering wheels and trim tabs, which help stabilize the boat. These components are sold to boat manufacturers for installation in new boats and are also available for boat owners to purchase as upgrades.
What management is betting on now
The company is focused on producing high-quality, durable components for medium to high-end applications where performance is critical. Management has been expanding sales into the healthcare and transportation markets for its security products. For its marine business, the company is increasing sales to industrial customers to balance out changes in government orders. By focusing on a favorable product mix and maintaining pricing power, the company aims to improve its gross margins (the profit made on each dollar of sales before general and administrative costs).
Price history
How the share price has moved
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Loading price history…
Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2024 Q3
$3.65M
FY2024 Q4
$7.09M
FY2025 Q1
$-959.00K
FY2025 Q2
$3.38M
FY2025 Q3
$5.27M
FY2025 Q4
$11.43M
FY2026 Q1
$-1.56M
FY2026 Q2
$6.08M
Revenue
$43.61M
Net income
$7.26M
Diluted EPS
0.59
Operating cash flow
$7.20M
Free cash flow
$6.08M
Fetching…
Sources
Revenue
$40.57M
Net income
$5.85M
Diluted EPS
0.48
Operating cash flow
$-1.16M
Free cash flow
$-1.56M
Fetching…
Sources
Revenue
$37.70M
Net income
$4.67M
Diluted EPS
0.38
Operating cash flow
$12.03M
Free cash flow
$11.43M
Fetching…
Sources
Revenue
$39.95M
Net income
$4.22M
Diluted EPS
0.34
Operating cash flow
$6.25M
Free cash flow
$5.27M
Fetching…
Sources
Revenue
$40.37M
Net income
$5.45M
Diluted EPS
0.44
Operating cash flow
$4.73M
Free cash flow
$3.38M
Fetching…
Sources
Revenue
$40.27M
Net income
$5.13M
Diluted EPS
0.42
Operating cash flow
$-137.00K
Free cash flow
$-959.00K
Fetching…
Sources
Revenue
$38.42M
Net income
$4.51M
Diluted EPS
0.37
Operating cash flow
$7.33M
Free cash flow
$7.09M
Fetching…
Sources
Revenue
$33.67M
Net income
$3.48M
Diluted EPS
0.28
Operating cash flow
$4.11M
Free cash flow
$3.65M
Fetching…
Sources
Is it cheap or expensive?
Fair value $37.96 vs current price $37.80
Our most-likely fair value is $37.96 a share — about 0.4% away from today's price of $37.80, so the stock currently looks fairly priced.
Is it drowning in debt?
Healthy
Net cash $51.4M - more cash than debt. Interest coverage 7.0x.
Net debt
$-51.42M
Interest coverage
7.00x
CompX International Inc.'s profit covers its interest bill about 7.0 times over.
Healthy
Worse cushion
Baseline
Better cushion
CIX
BASELINE
CompX International Inc.
Total debt $1.00M Interest coverage 7.00x This is the baseline the peer rows are being compared against.
Total debt $2.48M Interest coverage 73.88x +955% vs CIX Carries about 10.6x more debt cushion than CIX.
Total debt $5.18M Interest coverage 217.80x +3,011% vs CIX Carries about 31.1x more debt cushion than CIX.
Total debt $1.41M Interest coverage 12.43x +78% vs CIX Carries about 1.8x more debt cushion than CIX.
Total debt $1.01B Interest coverage 2.34x -67% vs CIX Carries about 3.0x less debt cushion than CIX.
Total debt $37.04M Interest coverage 12.20x +74% vs CIX Carries about 1.7x more debt cushion than CIX.
What you should know
The case for and against CIX
3 Rewards
1 Risk
Rewards
-
Revenue grew 2.2% last year.
-
Returns 15.0% on equity, ahead of 66% of its peers.
-
Free cash flow was positive in 10/10 years.
Risks
-
Stock trades 44.5% above its 5-year average P/E.
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
21.24x
Forward P/E
—
P/B
3.22x
P/S
2.88x
EV/EBITDA
13.88x
PEG ratio
—
Profitability
How much profit each dollar creates
Gross margin
32.1%
Operating margin
20.5%
Net margin
13.6%
ROE
15.0%
ROA
10.1%
Health
Liquidity and balance-sheet strength
Debt / equity
0.01x
Current ratio
6.69x
Quick ratio
4.55x
Total debt
$1.00M
Total cash
$52.42M
Growth
How the business has been compounding
Revenue TTM
$161.83M
Revenue 5Y CAGR
3.0%
EPS TTM
1.78
EPS 5Y CAGR
-2.2%
Cash flow
How much cash the business throws off
Operating CF TTM
$24.32M
Free CF TTM
$19.12M
FCF margin
11.8%
Dividend
Shareholder payout
Yield
3.2%
Payout ratio
67.4%
Last ex-div date
2026-09-03