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Side-by-side financial comparison of ALPHA PRO TECH LTD (APT) and CSP INC (CSPI). Click either name above to swap in a different company.
ALPHA PRO TECH LTD is the larger business by last-quarter revenue ($13.9M vs $12.0M, roughly 1.2× CSP INC). ALPHA PRO TECH LTD runs the higher net margin — 5.0% vs 0.8%, a 4.3% gap on every dollar of revenue. On growth, ALPHA PRO TECH LTD posted the faster year-over-year revenue change (0.3% vs -23.2%). ALPHA PRO TECH LTD produced more free cash flow last quarter ($51.0K vs $-3.0M). Over the past eight quarters, ALPHA PRO TECH LTD's revenue compounded faster (1.4% CAGR vs -6.3%).
Alpha Pro Tech Ltd is a leading developer, manufacturer and marketer of disposable protective apparel, face masks, and building supply products including weather-resistant barriers. It primarily serves the healthcare, industrial, and construction sectors, with core operating markets concentrated in North America.
CSP Inc. is a U.S.-based technology firm offering cybersecurity solutions, managed IT services, high-performance computing systems, and IT consulting support. It serves enterprises across healthcare, finance, manufacturing, and public sectors in North America and select global markets.
APT vs CSPI — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $13.9M | $12.0M |
| Net Profit | $698.0K | $91.0K |
| Gross Margin | 37.1% | 39.3% |
| Operating Margin | 6.9% | -0.9% |
| Net Margin | 5.0% | 0.8% |
| Revenue YoY | 0.3% | -23.2% |
| Net Profit YoY | -17.6% | -80.7% |
| EPS (diluted) | $0.06 | $0.01 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $13.9M | $12.0M | ||
| Q3 25 | $14.8M | $14.5M | ||
| Q2 25 | $16.7M | $15.4M | ||
| Q1 25 | $13.8M | $13.1M | ||
| Q4 24 | $13.8M | $15.7M | ||
| Q3 24 | $14.3M | $13.0M | ||
| Q2 24 | $16.3M | $13.1M | ||
| Q1 24 | $13.5M | $13.7M |
| Q4 25 | $698.0K | $91.0K | ||
| Q3 25 | $976.0K | $-191.0K | ||
| Q2 25 | $1.2M | $-264.0K | ||
| Q1 25 | $613.0K | $-108.0K | ||
| Q4 24 | $847.0K | $472.0K | ||
| Q3 24 | $862.0K | $-1.7M | ||
| Q2 24 | $1.6M | $-185.0K | ||
| Q1 24 | $576.0K | $1.6M |
| Q4 25 | 37.1% | 39.3% | ||
| Q3 25 | 39.7% | 36.6% | ||
| Q2 25 | 36.8% | 28.8% | ||
| Q1 25 | 39.0% | 32.0% | ||
| Q4 24 | 37.6% | 29.1% | ||
| Q3 24 | 38.5% | 28.4% | ||
| Q2 24 | 42.0% | 35.0% | ||
| Q1 24 | 40.2% | 47.3% |
| Q4 25 | 6.9% | -0.9% | ||
| Q3 25 | 7.4% | -3.7% | ||
| Q2 25 | 8.0% | -7.9% | ||
| Q1 25 | 3.3% | -7.6% | ||
| Q4 24 | 4.9% | -2.3% | ||
| Q3 24 | 5.2% | -15.7% | ||
| Q2 24 | 10.5% | -5.5% | ||
| Q1 24 | 2.4% | 9.0% |
| Q4 25 | 5.0% | 0.8% | ||
| Q3 25 | 6.6% | -1.3% | ||
| Q2 25 | 7.5% | -1.7% | ||
| Q1 25 | 4.4% | -0.8% | ||
| Q4 24 | 6.1% | 3.0% | ||
| Q3 24 | 6.0% | -12.7% | ||
| Q2 24 | 10.1% | -1.4% | ||
| Q1 24 | 4.3% | 11.6% |
| Q4 25 | $0.06 | $0.01 | ||
| Q3 25 | $0.09 | $-0.02 | ||
| Q2 25 | $0.12 | $-0.03 | ||
| Q1 25 | $0.06 | $-0.01 | ||
| Q4 24 | $0.07 | $0.05 | ||
| Q3 24 | $0.08 | $-0.17 | ||
| Q2 24 | $0.15 | $-0.02 | ||
| Q1 24 | $0.05 | $0.16 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $17.0M | $24.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $62.5M | $44.8M |
| Total Assets | $74.1M | $69.2M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $17.0M | $24.9M | ||
| Q3 25 | $17.7M | $27.4M | ||
| Q2 25 | $14.5M | $26.3M | ||
| Q1 25 | $13.4M | $29.5M | ||
| Q4 24 | $18.6M | $30.7M | ||
| Q3 24 | $18.4M | $30.6M | ||
| Q2 24 | $16.2M | $28.9M | ||
| Q1 24 | $18.5M | $27.1M |
| Q4 25 | $62.5M | $44.8M | ||
| Q3 25 | $62.5M | $44.6M | ||
| Q2 25 | $62.2M | $47.5M | ||
| Q1 25 | $61.7M | $47.5M | ||
| Q4 24 | $62.2M | $47.5M | ||
| Q3 24 | $62.1M | $47.3M | ||
| Q2 24 | $62.0M | $48.1M | ||
| Q1 24 | $61.6M | $48.2M |
| Q4 25 | $74.1M | $69.2M | ||
| Q3 25 | $73.9M | $71.2M | ||
| Q2 25 | $73.2M | $66.8M | ||
| Q1 25 | $72.2M | $67.1M | ||
| Q4 24 | $73.7M | $67.5M | ||
| Q3 24 | $73.3M | $69.4M | ||
| Q2 24 | $72.7M | $66.8M | ||
| Q1 24 | $72.7M | $64.2M |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $318.0K | $-2.9M |
| Free Cash FlowOCF − Capex | $51.0K | $-3.0M |
| FCF MarginFCF / Revenue | 0.4% | -25.1% |
| Capex IntensityCapex / Revenue | 1.9% | 0.9% |
| Cash ConversionOCF / Net Profit | 0.46× | -32.04× |
| TTM Free Cash FlowTrailing 4 quarters | $1.7M | $-2.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $318.0K | $-2.9M | ||
| Q3 25 | $3.9M | $1.9M | ||
| Q2 25 | $2.1M | $-3.3M | ||
| Q1 25 | $-4.0M | $1.9M | ||
| Q4 24 | $2.4M | $1.7M | ||
| Q3 24 | $5.3M | $-1.5M | ||
| Q2 24 | $-873.0K | $2.4M | ||
| Q1 24 | $-1.2M | $1.7M |
| Q4 25 | $51.0K | $-3.0M | ||
| Q3 25 | $3.8M | $1.7M | ||
| Q2 25 | $1.9M | $-3.3M | ||
| Q1 25 | $-4.1M | $1.9M | ||
| Q4 24 | $970.0K | $1.7M | ||
| Q3 24 | $3.2M | $-1.5M | ||
| Q2 24 | $-1.0M | $2.4M | ||
| Q1 24 | $-1.3M | $1.6M |
| Q4 25 | 0.4% | -25.1% | ||
| Q3 25 | 25.9% | 11.5% | ||
| Q2 25 | 11.7% | -21.7% | ||
| Q1 25 | -29.6% | 14.5% | ||
| Q4 24 | 7.0% | 10.8% | ||
| Q3 24 | 22.3% | -11.7% | ||
| Q2 24 | -6.2% | 17.9% | ||
| Q1 24 | -9.3% | 11.9% |
| Q4 25 | 1.9% | 0.9% | ||
| Q3 25 | 0.7% | 1.6% | ||
| Q2 25 | 0.8% | 0.4% | ||
| Q1 25 | 1.0% | 0.1% | ||
| Q4 24 | 10.4% | 0.3% | ||
| Q3 24 | 15.1% | 0.1% | ||
| Q2 24 | 0.8% | 0.3% | ||
| Q1 24 | 0.6% | 0.1% |
| Q4 25 | 0.46× | -32.04× | ||
| Q3 25 | 4.02× | — | ||
| Q2 25 | 1.68× | — | ||
| Q1 25 | -6.46× | — | ||
| Q4 24 | 2.85× | 3.69× | ||
| Q3 24 | 6.18× | — | ||
| Q2 24 | -0.53× | — | ||
| Q1 24 | -2.03× | 1.04× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
APT
| Other | $7.3M | 53% |
| Disposable Protective Apparel | $6.6M | 47% |
CSPI
| Products | $6.7M | 56% |
| Services | $5.3M | 44% |
