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Optex Systems HoldingsOPXS +4.38%93 Owner Earnings per Share (TTM) is 0.02 as of Jun. 2026, which is 100% below its 10-year median of 12.20. GuruFocus rates OPXS with a GF Score™ of 93/100 and a GF Value™ of $10.27 (Modestly Overvalued). The stock has 1 warning sign investors should review. Among 155 Aerospace & Defense companies, Optex Systems Holdings ranks worse than 645160.65% on this metric.
"These represent (a) reported earnings plus (b) depreciation, depletion, amortization, and certain other non-cash charges...less (c) the average annual amount of capitalized expenditures for plant and equipment, etc. that the business requires to fully maintain its long-term competitive position and its unit volume (If the business requires additional working capital to maintain its competitive position and unit volume, the increment also should be included in (c))...Our owner-earnings equation does not yield the deceptively precise figures provided by GAAP, since (c) must be a guess - and one sometimes very difficult to make. Despite this problem, we consider the owner earnings figure, not the GAAP figure, to be the relevant item for valuation purposes - both for investors in buying stocks and for managers in buying entire businesses...All of this points up the absurdity of the 'cash flow' numbers that are often set forth in Wall Street reports. These numbers routinely include (a) plus (b) - but do not subtract (c)."
Optex Systems Holdings's Owner Earnings per Share (TTM) ended in Jun. 2026 was $0.02. It's Price-to-Owner-Earnings ratio for today is 578.5.
The historical rank and industry rank for Optex Systems Holdings's Owner Earnings per Share (TTM) or its related term are showing as below:
OPXS'
s Price-to-Owner-Earnings Range Over the Past 10 Years
Min: 2.6 Med: 12.2 Max: 491.68
Current: 491.68
Assumption: Companies usually do not report maintenance capital expenditures and growth capital expenditures separately. Here we use estimated numbers and average them over 5 years. The method to estimate maintenance capital expenditures can be found in above part 4.
Note: GuruFocus' Change In Working Capital is provided by Morningstar. It is calculated by adding the items under "Change in operating assets and liabilities" (may refer to a different name for different company) section in Cash Flow Statement from original financial report. And it includes non-current parts of assets and liabilities.
Optex Systems Holdings Owner Earnings per Share (TTM) Related Terms
Optex Systems Holdings Owner Earnings per Share (TTM) Historical Data
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The historical data trend for Optex Systems Holdings's Owner Earnings per Share (TTM) can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Optex Systems Holdings Owner Earnings per Share (TTM) Chart
OPXS vs SPAI, BYRN, VWAV: Owner Earnings per Share (TTM) Comparison
For the Aerospace & Defense subindustry, Optex Systems Holdings's Price-to-Owner-Earnings, along with its competitors' market caps and Price-to-Owner-Earnings data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Optex Systems Holdings Price-to-Owner-Earnings vs Aerospace & Defense Industry
For the Aerospace & Defense industry and Industrials sector, Optex Systems Holdings's Price-to-Owner-Earnings distribution charts can be found below:
* The bar in red indicates where Optex Systems Holdings's Price-to-Owner-Earnings falls into.
"These represent (a) reported earnings plus (b) depreciation, depletion, amortization, and certain other non-cash charges...less (c) the average annual amount of capitalized expenditures for plant and equipment, etc. that the business requires to fully maintain its long-term competitive position and its unit volume. (If the business requires additional working capital to maintain its competitive position and unit volume, the increment also should be included in (c))...Our owner-earnings equation does not yield the deceptively precise figures provided by GAAP, since (c) must be a guess - and one sometimes very difficult to make. Despite this problem, we consider the owner earnings figure, not the GAAP figure, to be the relevant item for valuation purposes - both for investors in buying stocks and for managers in buying entire businesses...All of this points up the absurdity of the 'cash flow' numbers that are often set forth in Wall Street reports. These numbers routinely include (a) plus (b) - but do not subtract (c)."
3. Other non-cash charges usually include "Stock Based Compensation" and "Change In Deferred Tax":
However, to be conservative, GuruFocus will not add Stock Based Compensation back to net income.
Optex Systems Holdings's Change In Deferred Tax for the trailing twelve months (TTM) ended in Jun. 2026 was $-0.20 Mil.
4. Average maintenance capital expenditure over a business/industry cycle: 5-Year Average Maintenance Capital Expenditure = $0.74 Mil
It is usually best to take a long-term average of maintenance capital expenditure. Ideally this would be as long as 10 years and include at least one economic downturn. However, since many companies do not have as long as 10-year history, here GuruFocus uses the latest 5 years data to do the calculation. To smooth out unusual years but reflect recent developments, we take an average of the 5 year maintenance capital expenditure.
The following shows how to get maintenance capital expenditure.
First, calculate the revenue change regarding to the previous quarter. If the revenue decreased from the previous quarter, then the Maintenance Capital Expenditure = Capital Expenditure (positive).
Second, if the revenue increased from the previous quarter, then calculate the percentage of Net PPE as of corresponding Revenue.
Growth Capital Expenditure = Percentage of Property, Plant and Equipment as of corresponding Revenue * Revenue Increase
Third, calculate Capital Expenditure (positive) - Growth Capital Expenditure.
If [Capital Expenditure (positive) - Growth Capital Expenditure] was negative, then the Maintenance Capital Expenditure = Capital Expenditure (positive).
If [Capital Expenditure (positive) - Growth Capital Expenditure] was positive, then the Maintenance Capital Expenditure = Capital Expenditure (positive) - Growth Capital Expenditure.
Fourth, get the average of the 5 years maintenance capital expenditure.
Optex Systems Holdings's 5-Year Average Maintenance Capital Expenditure = $0.74 Mil
5. "Change In Working Capital" is from cashflow statement. Optex Systems Holdings's Change In Working Capital for the trailing twelve months (TTM) ended in Jun. 2026 was $-3.21 Mil.
Note: GuruFocus' Change in Working Capital is provided by Morningstar. It is calculated by adding the items under "Change in operating assets and liabilities" (may refer to a different name for different company) section in Cash Flow Statement from original financial report. And sometimes it includes non-current parts of assets and liabilities.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
What does a Owner Earnings per Share (TTM) of 0.02 mean?
Optex Systems Holdings (OPXS) has a Owner Earnings per Share (TTM) of 0.02 as of Jun. 2026. Warren Buffett defined owner earnings as reported earnings plus depreciation less average maintenance capital expenditure. View historical data on Optex Systems Holdings. This is 100% below median its historical median of 12.20. Over the past decade, Optex Systems Holdings' Owner Earnings per Share (TTM) has ranged from 2.60 to 491.68. According to the industry distribution chart, Optex Systems Holdings ranks #999999 out of 155 companies in the Aerospace & Defense industry.
Is Optex Systems Holdings' Owner Earnings per Share (TTM) too high?
Optex Systems Holdings' current Owner Earnings per Share (TTM) of 0.02 is 100% below median its 10-year median of 12.20. Over the past 10 years, this metric has ranged from a low of 2.60 to a high of 491.68. The Aerospace & Defense industry median Owner Earnings per Share (TTM) is 34.55. Optex Systems Holdings' value of 0.02 is 99.9% below this industry median. Based on the distribution chart, Optex Systems Holdings ranks #999999 out of 155 companies in the Aerospace & Defense industry, which is in the bottom quartile relative to peers. Overall, Optex Systems Holdings has a GF Score™ of 93/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Optex Systems Holdings' Owner Earnings per Share (TTM) compare to SPAI and BYRN?
According to the Aerospace & Defense industry distribution chart, Optex Systems Holdings ranks #999999 out of 155 companies for Owner Earnings per Share (TTM). This places Optex Systems Holdings in the lower half of its industry. The industry median Owner Earnings per Share (TTM) is 34.55. Optex Systems Holdings' value of 0.02 is 99.9% below this benchmark. Historically, Optex Systems Holdings' own Owner Earnings per Share (TTM) has ranged from 2.60 to 491.68 over the past decade. While the company's 10-year median is 12.20 vs. the industry median of 34.55, Optex Systems Holdings has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Owner Earnings per Share (TTM) for an Aerospace & Defense company?
The median Owner Earnings per Share (TTM) among Aerospace & Defense companies is 34.55, based on 155 companies in the industry. Companies in the top quartile (top 25%) have a Owner Earnings per Share (TTM) significantly above this median, while those in the bottom quartile fall well below. However, Owner Earnings per Share (TTM) should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Optex Systems Holdings's current Owner Earnings per Share (TTM) of 0.02 is 99.9% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Owner Earnings per Share (TTM) mean?
A high Owner Earnings per Share (TTM) can signal that a stock is expensive relative to its fundamentals. Warren Buffett defined owner earnings as reported earnings plus depreciation less average maintenance capital expenditure. View historical data on Optex Systems Holdings. For the Aerospace & Defense industry, the median Owner Earnings per Share (TTM) is 34.55 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Optex Systems Holdings's current Owner Earnings per Share (TTM) is 0.02, which is 100% below median its own 10-year median of 12.20. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Optex Systems Holdings stock overvalued right now?
Based on GuruFocus' analysis, Optex Systems Holdings (OPXS) is currently considered Modestly Overvalued. The stock's GF Value™ is $10.27, compared to a current price of $11.57 — trading 12.7% above its estimated fair value. The current Owner Earnings per Share (TTM) is 0.02, which is 100% below median its 10-year median of 12.20 and 99.9% below the Aerospace & Defense industry median of 34.55. Optex Systems Holdings' overall GF Score™ is 93/100 with 1 warning sign to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Owner Earnings per Share (TTM) calculated?
Owner Earnings per Share (TTM) is calculated from a company's financial statements. For Optex Systems Holdings (OPXS), the current Owner Earnings per Share (TTM) is 0.02 as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Optex Systems Holdings (OPXS) Overvalued in 2026?
Based on GuruFocus' analysis, Optex Systems Holdings stock appears to be overvalued.
The current stock price of $11.57 is trading 12.7% above its estimated GF Value™ of $10.27.
GuruFocus considers Optex Systems Holdings to be Modestly Overvalued.
Key valuation signals for OPXS:
Owner Earnings per Share (TTM): 0.02 (100% below median its 10-year median of 12.20)
GF Value™: $10.27 vs. price of $11.57 (12.7% above fair value)
Industry Position: 99.9% below the Aerospace & Defense median (#999999 of 155)
No single metric tells the full story. See the OPXS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Optex Systems Holdings Inc manufactures optical sighting systems and assemblies for the U.S. Department of Defense, foreign military applications, and commercial markets. Its products are installed on a variety of United States military land vehicles, such as the Abrams and Bradley fighting vehicles, light armored and security vehicles, and have been selected for installation on the Stryker family of vehicles. The company's operating segment includes Optex Systems Richardson, Applied Optics Center Dallas, and others. It generates maximum revenue from the Optex Systems Richardson segment. Some of its products include M17 Day/Thermal Periscope; DDAN / M36 Sights; Laser Protected Periscopes; Muzzle Reference Sensor, and others.
93GF Score
Get the complete analysis for OPXS
Owner Earnings per Share (TTM) is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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