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Side-by-side financial comparison of NORTECH SYSTEMS INC (NSYS) and ROCKWELL MEDICAL, INC. (RMTI). Click either name above to swap in a different company.
NORTECH SYSTEMS INC is the larger business by last-quarter revenue ($30.3M vs $18.3M, roughly 1.7× ROCKWELL MEDICAL, INC.). NORTECH SYSTEMS INC runs the higher net margin — 3.0% vs -3.0%, a 6.0% gap on every dollar of revenue. On growth, NORTECH SYSTEMS INC posted the faster year-over-year revenue change (5.9% vs -25.6%). NORTECH SYSTEMS INC produced more free cash flow last quarter ($5.5M vs $2.2M). Over the past eight quarters, NORTECH SYSTEMS INC's revenue compounded faster (-5.9% CAGR vs -10.1%).
Nortech Systems Inc is a global electronics manufacturing services provider. It delivers end-to-end solutions covering product design, prototyping, full-scale production, and supply chain management for clients operating in medical technology, industrial automation, aerospace and defense, and transportation sectors. It specializes in high-reliability, regulatory-compliant electronic components and assemblies tailored to strict industry standards.
Rockwell Medical Inc. is a publicly traded pharmaceutical company based in Wixom, Michigan and founded in 1996 that focuses on development and commercialization of treatments against diseases such as end-stage renal disease (ESRD) and chronic kidney disease (CKD).
NSYS vs RMTI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $30.3M | $18.3M |
| Net Profit | $897.0K | $-554.0K |
| Gross Margin | 16.7% | 21.1% |
| Operating Margin | 3.0% | -2.2% |
| Net Margin | 3.0% | -3.0% |
| Revenue YoY | 5.9% | -25.6% |
| Net Profit YoY | 160.7% | 26.7% |
| EPS (diluted) | $0.32 | $-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 | $30.3M | $18.3M | ||
| Q3 25 | $30.5M | $15.9M | ||
| Q2 25 | $30.7M | $16.1M | ||
| Q1 25 | $26.9M | $18.9M | ||
| Q4 24 | $28.6M | $24.7M | ||
| Q3 24 | $31.4M | $28.3M | ||
| Q2 24 | $33.9M | $25.8M | ||
| Q1 24 | $34.2M | $22.7M |
| Q4 25 | $897.0K | $-554.0K | ||
| Q3 25 | $-146.0K | $-1.8M | ||
| Q2 25 | $313.0K | $-1.5M | ||
| Q1 25 | $-1.3M | $-1.5M | ||
| Q4 24 | $-1.5M | $-756.0K | ||
| Q3 24 | $-739.0K | $1.7M | ||
| Q2 24 | $157.0K | $343.0K | ||
| Q1 24 | $765.0K | $-1.7M |
| Q4 25 | 16.7% | 21.1% | ||
| Q3 25 | 16.5% | 14.3% | ||
| Q2 25 | 15.8% | 15.6% | ||
| Q1 25 | 11.4% | 16.1% | ||
| Q4 24 | 9.9% | 14.7% | ||
| Q3 24 | 12.2% | 22.0% | ||
| Q2 24 | 13.6% | 17.6% | ||
| Q1 24 | 15.9% | 13.5% |
| Q4 25 | 3.0% | -2.2% | ||
| Q3 25 | 3.1% | -9.9% | ||
| Q2 25 | 2.4% | -8.4% | ||
| Q1 25 | -6.0% | -7.2% | ||
| Q4 24 | -4.3% | -2.1% | ||
| Q3 24 | -1.5% | 6.8% | ||
| Q2 24 | 1.0% | 2.0% | ||
| Q1 24 | 3.4% | -5.8% |
| Q4 25 | 3.0% | -3.0% | ||
| Q3 25 | -0.5% | -11.0% | ||
| Q2 25 | 1.0% | -9.3% | ||
| Q1 25 | -4.9% | -8.0% | ||
| Q4 24 | -5.2% | -3.1% | ||
| Q3 24 | -2.4% | 5.9% | ||
| Q2 24 | 0.5% | 1.3% | ||
| Q1 24 | 2.2% | -7.6% |
| Q4 25 | $0.32 | $-0.01 | ||
| Q3 25 | $-0.05 | $-0.05 | ||
| Q2 25 | $0.12 | $-0.05 | ||
| Q1 25 | $-0.48 | $-0.04 | ||
| Q4 24 | $-0.51 | $-0.02 | ||
| Q3 24 | $-0.27 | $0.04 | ||
| Q2 24 | $0.05 | $0.01 | ||
| Q1 24 | $0.26 | $-0.06 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.7M | $10.7M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $34.5M | $37.0M |
| Total Assets | $71.9M | $57.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.7M | $10.7M | ||
| Q3 25 | $1.3M | $13.6M | ||
| Q2 25 | $652.0K | $12.5M | ||
| Q1 25 | $1.2M | $11.4M | ||
| Q4 24 | $916.0K | $15.7M | ||
| Q3 24 | $1.2M | $12.3M | ||
| Q2 24 | $1.5M | $11.9M | ||
| Q1 24 | $4.0M | $6.6M |
| Q4 25 | $34.5M | $37.0M | ||
| Q3 25 | $33.4M | $37.0M | ||
| Q2 25 | $33.4M | $30.4M | ||
| Q1 25 | $32.8M | $31.5M | ||
| Q4 24 | $34.0M | $32.6M | ||
| Q3 24 | $35.7M | $29.1M | ||
| Q2 24 | $36.1M | $23.5M | ||
| Q1 24 | $36.0M | $20.6M |
| Q4 25 | $71.9M | $57.1M | ||
| Q3 25 | $74.8M | $57.5M | ||
| Q2 25 | $74.8M | $52.6M | ||
| Q1 25 | $73.5M | $54.0M | ||
| Q4 24 | $72.4M | $59.2M | ||
| Q3 24 | $77.0M | $57.1M | ||
| Q2 24 | $76.3M | $53.0M | ||
| Q1 24 | $75.5M | $50.7M |
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 | $5.6M | $2.3M |
| Free Cash FlowOCF − Capex | $5.5M | $2.2M |
| FCF MarginFCF / Revenue | 18.0% | 12.0% |
| Capex IntensityCapex / Revenue | 0.5% | 0.5% |
| Cash ConversionOCF / Net Profit | 6.25× | — |
| TTM Free Cash FlowTrailing 4 quarters | $2.1M | $-1.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $5.6M | $2.3M | ||
| Q3 25 | $-92.0K | $-1.3M | ||
| Q2 25 | $157.0K | $1.8M | ||
| Q1 25 | $-2.9M | $-3.5M | ||
| Q4 24 | $793.0K | $865.0K | ||
| Q3 24 | $-1.6M | $4.3M | ||
| Q2 24 | $-4.3M | $1.4M | ||
| Q1 24 | $2.8M | $-2.4M |
| Q4 25 | $5.5M | $2.2M | ||
| Q3 25 | $-242.0K | $-1.5M | ||
| Q2 25 | $58.0K | $1.7M | ||
| Q1 25 | $-3.2M | $-3.5M | ||
| Q4 24 | $503.0K | $470.0K | ||
| Q3 24 | $-1.6M | $4.1M | ||
| Q2 24 | $-4.6M | $1.2M | ||
| Q1 24 | $2.1M | $-2.5M |
| Q4 25 | 18.0% | 12.0% | ||
| Q3 25 | -0.8% | -9.6% | ||
| Q2 25 | 0.2% | 10.5% | ||
| Q1 25 | -11.9% | -18.8% | ||
| Q4 24 | 1.8% | 1.9% | ||
| Q3 24 | -5.2% | 14.4% | ||
| Q2 24 | -13.5% | 4.5% | ||
| Q1 24 | 6.1% | -11.1% |
| Q4 25 | 0.5% | 0.5% | ||
| Q3 25 | 0.5% | 1.4% | ||
| Q2 25 | 0.3% | 1.0% | ||
| Q1 25 | 1.0% | 0.3% | ||
| Q4 24 | 1.0% | 1.6% | ||
| Q3 24 | 0.1% | 0.7% | ||
| Q2 24 | 0.8% | 1.1% | ||
| Q1 24 | 2.2% | 0.6% |
| Q4 25 | 6.25× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 0.50× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 2.57× | ||
| Q2 24 | -27.30× | 4.20× | ||
| Q1 24 | 3.70× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
NSYS
| Medical Imaging | $11.4M | 37% |
| Medical Device | $8.0M | 26% |
| Industrial | $7.3M | 24% |
| Aerospace And Defense | $3.7M | 12% |
RMTI
| US | $15.9M | 87% |
| Non Us | $2.4M | 13% |
