Alpha Pro Tech
APTNYSE AmericanUSD
- Source valuation snapshot. Not a live recalculation.
- Latest filed annual earnings; price snapshot date unavailable. Not forward P/E.
- Diluted earnings per share from the latest filed annual.
- $6.25 Prior regular-session close from the quote source.
- $5.95–$6.34 Regular-session low and high so far today.
- 84.9K Regular-session shares traded · Nov 11, 4:00 PM ET.
- Not yet confirmed The company has not confirmed its next report date. Reported quarters are available in the chart’s Earnings view.
- $4.34–$7.50 52-week trading low and high returned by the quote source.
Understand the Business
Why the Stock Moved
Period-matched expectations history is not yet available. Current metrics are not a substitute for a historical explanation.
The core investment thesis
Own APT if its protective and building-supply products prove less commodity-like than the recent flat revenue and modest earnings power suggest.
APT price history
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Investment thesis
What must happen next
Customer demand for Alpha Pro Tech’s niche protective and building-supply consumables remains replenishment-driven enough to keep the revenue base broadly stable, even without a pandemic-style demand spike.HoldingMateriality: High
GAAP annual revenue was $59.142 million in FY2025, up from $57.840 million in FY2024. If this holds, owners are underwriting a stable cash-generating niche business; if it breaks, the company becomes a shrinking small manufacturer with limited operating leverage.
Watch: Large distributors replace Alpha Pro Tech SKUs with lower-priced private-label or imported alternatives.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP annual revenue was $59.142 million in FY2025, up from $57.840 million in FY2024.
Open source ↗Alpha Pro Tech retains enough specification, quality, and availability value in its product mix to prevent gross margin from collapsing into commodity-manufacturer levels.StrengtheningMateriality: High
GAAP annual gross profit was $22.537 million in FY2025 versus $22.933 million in FY2024 and $22.829 million in FY2023. Gross-margin durability is the difference between a stable niche business and one where modest revenue is consumed by price competition and input-cost pressure.
Watch: Asian import capacity or larger domestic competitors undercut pricing in protective apparel, masks, or building-envelope products.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP annual gross profit was $22.537 million in FY2025 versus $22.933 million in FY2024 and $22.829 million in FY2023.
Open source ↗The company’s small operating structure remains disciplined enough that stable gross profit continues to convert into positive operating income rather than being absorbed by fixed costs.HoldingMateriality: Medium
GAAP annual operating income remained positive in each year from FY2022 through FY2025. For a company of this scale, even small SG&A or manufacturing inefficiencies can erase the earnings stream that supports valuation.
Watch: The company must raise sales, compliance, or manufacturing overhead to defend share against larger competitors.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP annual operating income remained positive in each year from FY2022 through FY2025.
Open source ↗A cash-heavy, low-liability balance sheet gives Alpha Pro Tech time to withstand demand cycles and fund working capital without dilutive or distressed financing.StrengtheningMateriality: Medium
Cash was $16.988 million at FY2025 year-end. Balance-sheet resilience limits downside and gives management flexibility, but it only creates value if cash is preserved or reinvested well.
Watch: Inventory builds, customer payment delays, or weak demand consume cash for multiple periods.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Cash was $16.988 million at FY2025 year-end.
Open source ↗Reported earnings remain economically useful only if working-capital needs and inventory decisions allow profits to translate into operating cash flow.HoldingMateriality: Medium
GAAP annual operating cash flow was positive in each year from FY2022 through FY2025. If earnings do not convert to cash, the apparent valuation support from EPS and the balance sheet becomes less reliable.
Watch: Management builds inventory ahead of uncertain demand or to offset supply-chain risk.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP annual operating cash flow was positive in each year from FY2022 through FY2025.
Open source ↗
Full investment case & evidence
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Original research
Customer demand for Alpha Pro Tech’s niche protective and building-supply consumables remains replenishment-driven enough to keep the revenue base broadly stable, even without a pandemic-style demand spike. If this holds, owners are underwriting a stable cash-generating niche business; if it breaks, the company becomes a shrinking small manufacturer with limited operating leverage.
Alpha Pro Tech retains enough specification, quality, and availability value in its product mix to prevent gross margin from collapsing into commodity-manufacturer levels. Gross-margin durability is the difference between a stable niche business and one where modest revenue is consumed by price competition and input-cost pressure.
The company’s small operating structure remains disciplined enough that stable gross profit continues to convert into positive operating income rather than being absorbed by fixed costs. For a company of this scale, even small SG&A or manufacturing inefficiencies can erase the earnings stream that supports valuation.
A cash-heavy, low-liability balance sheet gives Alpha Pro Tech time to withstand demand cycles and fund working capital without dilutive or distressed financing. Balance-sheet resilience limits downside and gives management flexibility, but it only creates value if cash is preserved or reinvested well.
Reported earnings remain economically useful only if working-capital needs and inventory decisions allow profits to translate into operating cash flow. If earnings do not convert to cash, the apparent valuation support from EPS and the balance sheet becomes less reliable.
All standing thesis claims
Original report summary
its protective and building-supply products prove less commodity-like than the recent flat revenue and modest earnings power suggest.
Bull case and bear case
Bull case and bear case for Alpha Pro Tech
Where the evidence on Alpha Pro Tech stands: Holding on the latest evidence (Oct 12, 2026). Of its 5 thesis points, 2 strengthening and 3 holding.
Bull case: what the evidence supports
Customer demand for Alpha Pro Tech’s niche protective and building-supply consumables remains replenishment-driven enough to keep the revenue base broadly stable, even without a pandemic-style demand spike.
Alpha Pro Tech retains enough specification, quality, and availability value in its product mix to prevent gross margin from collapsing into commodity-manufacturer levels.
The company’s small operating structure remains disciplined enough that stable gross profit continues to convert into positive operating income rather than being absorbed by fixed costs.
A cash-heavy, low-liability balance sheet gives Alpha Pro Tech time to withstand demand cycles and fund working capital without dilutive or distressed financing.
Reported earnings remain economically useful only if working-capital needs and inventory decisions allow profits to translate into operating cash flow.
Bear case: what would count against it
Large distributors replace Alpha Pro Tech SKUs with lower-priced private-label or imported alternatives.
Asian import capacity or larger domestic competitors undercut pricing in protective apparel, masks, or building-envelope products.
The company must raise sales, compliance, or manufacturing overhead to defend share against larger competitors.
Thesis-Break Engine
Thesis-break watch · Alpha Pro Tech
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MARKET + FINANCIAL SNAPSHOT
The numbers behind the thesis
What Changed
- MixedChanged certifying accountant.
Alpha Pro Tech filed an SEC 8-K on 2026-09-16: Changed certifying accountant. It is a dated development that tests the current thesis.
- MixedReported results of operations (earnings release).
Alpha Pro Tech filed an SEC 8-K on 2026-08-06: Reported results of operations (earnings release). It is a dated development that tests the current thesis.
- MixedReported results of operations (earnings release).
Alpha Pro Tech filed an SEC 8-K on 2026-05-07: Reported results of operations (earnings release). It is a dated development that tests the current thesis.
Risks / falsifiers
What could break the thesis
- Large distributors replace Alpha Pro Tech SKUs with lower-priced private-label or imported alternatives.
- Asian import capacity or larger domestic competitors undercut pricing in protective apparel, masks, or building-envelope products.
- The company must raise sales, compliance, or manufacturing overhead to defend share against larger competitors.
- Inventory builds, customer payment delays, or weak demand consume cash for multiple periods.
- Management builds inventory ahead of uncertain demand or to offset supply-chain risk.
APT news
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Financial statements
APT income statement
Annual filed results · USD · Oldest to newest. Margins are calculated from the reported figures.
APT: quick answers
- Have members of Congress traded APT?
- 13 trades in APT have been disclosed under the STOCK Act by members of Congress, the President or senior officials, none in reports made public in the last 90 days. Every disclosed APT trade