TacticScaleWhat Espey MFG & Electronics Does & How It Makes Money (ESP)
Updated October 2026 · reflects Espey MFG & Electronics's latest reported financials
Century-old maker of rugged power electronics for military and industry. Espey earns revenue by manufacturing and selling power electronics and components to defense contractors, industrial manufacturers, and U.S.
How Espey MFG & Electronics makes money
Espey earns revenue by manufacturing and selling power electronics and components to defense contractors, industrial manufacturers, and U.S. and foreign governments, plus fees for design, testing and contract manufacturing services. Sales come through its own direct sales team and outside sales representatives.
What Espey MFG & Electronics does
Espey Mfg. & Electronics Corp., founded in 1928 and based in Saratoga Springs, New York, makes the hardware that keeps power flowing in demanding environments. Its lineup covers power supplies, converters, transformers, filters, magnetic components, power distribution equipment, UPS systems and antennas. These products are used in AC and DC locomotives, shipboard power and radar, airborne systems, ground-based radar and ground mobile power. Beyond its own products, Espey works as an engineering and manufacturing partner. It designs to customer specifications, builds to print, runs environmental testing, develops automatic test equipment, and handles metal fabrication, painting and printed circuit board assembly. Its customers include defense companies, industrial manufacturers, the U.S. government, foreign governments and foreign electronics firms, which makes it a niche supplier tied closely to military and heavy-industry programs.
Products & services
- Power supplies and power converters
- Power transformers and magnetic components
- Filters and inductors
- Power distribution equipment and UPS systems
- Antennas
- Design, environmental testing and build-to-print services
What is Espey MFG & Electronics worth?
On an owner-earnings DCF, Espey MFG & Electronics's most-likely value is about $42 versus a recent price near $60 (29% above fair value). But TacticScale only calls a stock undervalued when the price sits below its conservative no-growth floor (~$22) with a margin of safety — so the honest verdict here is “Fairly priced — no edge.” Fair value earns its keep only at the extremes, not in the wide middle.
Price sits in the normal range — fair value isn't actionable here; it earns its keep only when price drops below the no-growth floor, or runs to roughly double the optimistic case.
Analysis, not advice. Fair value is a margin-of-safety estimate from a deterministic owner-earnings DCF, not a price target or recommendation. See the full breakdown →
Related companies
ESCO Technologies (ESE) · Eaton (ETN) · EnerSys (ENS) · ESAB (ESAB) · Mercury Systems (MRCY)