Omega Flex, Inc. (OFLX) Financial Statements (2024 and earlier)

Company Profile

Business Address 451 CREAMERY WAY
EXTON, PA 19341
State of Incorp. PA
Fiscal Year End December 31
Industry (SIC) 343 - Heating Equipment, Except Electric And Warm Air; (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments37,70332,91323,63316,09832,39237,938
Cash and cash equivalents37,70332,91323,63316,09832,39237,938
Receivables17,50320,72620,07717,047  
Inventory, net of allowances, customer advances and progress billings17,76415,56511,51011,0787,9768,007
Inventory17,76415,56511,51011,0787,9768,007
Other current assets2,7852,5332,1372,0971,8591,895
Other undisclosed current assets     31,39515,636
Total current assets:75,75571,73757,35746,32073,62263,476
Noncurrent Assets
Operating lease, right-of-use asset3,2053,374493771
Property, plant and equipment8,4048,5698,5998,9098,3786,998
Intangible assets, net (including goodwill)3,5263,5263,5263,5263,5263,526
Goodwill3,5263,5263,5263,5263,5263,526
Deferred income tax assets923754
Other noncurrent assets5,8711,7021,5911,4541,3073,079
Other undisclosed noncurrent assets     312
Total noncurrent assets:21,92917,17814,21414,66413,21413,615
TOTAL ASSETS:97,68488,91571,57160,98486,83677,091
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities14,40917,54716,05314,71114,81414,521
Interest and dividends payable 2,8262,8262,4222,220
Taxes payable197942358568
Employee-related liabilities7,0085,4294,6185,2954,851
Accounts payable2,2903,3552,4712,3832,7752,598
Accrued liabilities12,1197,1834,3484,4614,2644,284
Debt    369  
Deferred compensation liability      788
Other liabilities7,5304,8645,5715,4043,591 
Other undisclosed current liabilities447383247  2,795
Total current liabilities:22,38622,79421,87120,48418,40518,104
Noncurrent Liabilities
Long-term debt and lease obligation:  2,990252418  
Liabilities, other than long-term debt4,1252,5903,0712,5061,5442,709
Accounts payable and accrued liabilities370493559  761
Deferred income tax liabilities6427121331
Other liabilities9861,6702,3912,1751,5441,948
Operating lease, liability2,7632,990252418
Other undisclosed noncurrent liabilities     566209
Total noncurrent liabilities:4,1255,5803,3232,9242,1102,918
Total liabilities:26,51128,37425,19423,40820,51521,022
Equity
Equity, attributable to parent70,97760,35246,11737,38266,06955,458
Common stock102102102102102102
Treasury stock, value(1)(1)(1)(1)(1)(1)
Additional paid in capital11,02511,02511,02511,02510,80810,808
Accumulated other comprehensive loss(1,103)(827)(778)(909)(950)(908)
Retained earnings60,95450,05335,76927,16556,11045,457
Equity, attributable to noncontrolling interest196189260194252611
Total equity:71,17360,54146,37737,57666,32156,069
TOTAL LIABILITIES AND EQUITY:97,68488,91571,57160,98486,83677,091

Income Statement (P&L) ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues125,487130,011105,796111,360108,313101,799
Revenue, net101,799
Cost of revenue
(Cost of Goods and Services Sold)
(47,182)(48,480)(39,246)(40,873)(42,217)(40,033)
Gross profit:78,30581,53166,55070,48766,09661,766
Operating expenses(42,556)(41,859)(35,697)(43,850)(34,917)(34,256)
Other undisclosed operating loss(4,733)(4,610)(4,200)(4,715)(4,813)(3,293)
Operating income:31,01635,06226,65321,92226,36624,217
Nonoperating income (expense)
(Other Nonoperating Income (Expense))
(211)21(53)56(126)(38)
Other undisclosed income from continuing operations before equity method investments, income taxes      117
Income from continuing operations before equity method investments, income taxes:30,80535,08326,60021,97826,24024,296
Other undisclosed income (loss) from continuing operations before income taxes17435(39)876488 
Income from continuing operations before income taxes:30,97935,11826,56122,85426,72824,296
Income tax expense(7,327)(8,862)(6,594)(5,429)(6,451)(8,450)
Income from continuing operations:23,65226,25619,96717,42520,27715,846
Income before gain (loss) on sale of properties:26,25619,96717,42520,27715,846
Net income:23,65226,25619,96717,42520,27715,846
Net income (loss) attributable to noncontrolling interest(30)(61)(57)(139)  
Other undisclosed net loss attributable to parent     (138)(184)
Net income available to common stockholders, diluted:23,62226,19519,91017,28620,13915,662

Comprehensive Income ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income:23,65226,25619,96717,42520,27715,846
Other undisclosed comprehensive income (loss)(299)(52)14046(48)822
Comprehensive income:23,35326,20420,10717,47120,22916,668
Comprehensive loss, net of tax, attributable to noncontrolling interest(7)(58)(66)(144)(132)(229)
Other undisclosed comprehensive loss, net of tax, attributable to parent      
Comprehensive income, net of tax, attributable to parent:23,34626,14620,04117,32720,09716,439

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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