LTRXLantronix, Inc.
Is the business good?
Margins widening. That is the only one of 4 checks this filer's data supports, so take it as a single data point rather than a settled answer.
Operating margin has widened over the past few years, the business is getting more profitable per dollar of sales.
Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.
How good a business is LTRX?
Lantronix, Inc. earns −5.5% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
Return on invested capital · cost of capital 9.0% · 15 points below what the capital costs: growth destroys value
- Operating margin
- −3.4%
Operating margin · Communication Equipment median 5.2% · 12 months to Q4 2026
- R&D as % of revenue
- 15%
R&D as % of revenue
- Gross margin
- 44%
Gross margin
| Year | Operating margin |
|---|---|
| FY2021 | −4.7% |
| FY2022 | −3.9% |
| FY2023 | −5.1% |
| FY2024 | −1.8% |
| FY2025 | −8.9% |
| FY2026 | −3.4% |
Details›
- Gross margin12 months to Q4 2026
- 44%
- Operating margin12 months to Q4 2026
- −3.4%
- Net margin12 months to Q4 2026
- −3.5%
- Free cash flow margin
- 7.7%
- R&D as % of revenue
- 15%
- Revenue, trailing twelve months
- $121M
- Free cash flow, trailing twelve months
- $9.3M
- Net income, trailing twelve months
- −$4.2M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- −5.5%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.
Customers and suppliers
Who buys from LTRX and who it buys from, as the companies report it.
- Customer A13%
Share of revenue · FY2026 10-K
- Top five customers37%
Combined share of revenue · FY2026 10-K
- Top five distributors32%
Combined share of revenue · FY2026 10-K
None disclosed.
A company has to disclose every customer behind 10% or more of its revenue. Each share comes from the latest annual report of the company that states it and shows on both companies’ pages; LTRX’s own figures are from its FY2026 10-K. Smaller customers and suppliers go unreported.
Communication Equipment
Ranks #15 of 18 by RyuScore