ELTKNasdaqPrinted Circuit BoardsUS GAAP · USD

Eltek Ltd

Eltek Ltd. manufactures advanced printed circuit boards for demanding electronic applications. The company’s products include complex, high-density, multilayer, and flex-rigid boards used in defense, aerospace, medical, and other high-reliability end markets, with operations centered in Israel and sales reach extending through North America, Europe, and Asia.

Liikevaihto51,8milj. USD
+11,3 %v/v
Liikevoitto (EBIT)2,3milj. USD
−46,6 %v/v
EBIT-marginaali4,5%
−4,9 %-yks.v/v
Nettotulos0,8milj. USD
−80,4 %v/v
Vapaa kassavirta−4,2milj. USD
+15,3 %v/v

Tilikausi 2025 · muutos edellisvuodesta

Kehitys 2020–2025

0204060milj. USD2020: 37 milj. USD2020: EBIT 3,0 milj. USD20202021: 34 milj. USD2021: EBIT 1,9 milj. USD20212022: 40 milj. USD2022: EBIT 3,0 milj. USD20222023: 47 milj. USD2023: EBIT 7,3 milj. USD20232024: 47 milj. USD2024: EBIT 4,4 milj. USD20242025: 52 milj. USD2025: EBIT 2,3 milj. USD2025522,3
LiikevaihtoLiikevoitto (EBIT)

Liiketoiminta

Osuus liikevaihdosta
Complex PCBs40 %

Advanced printed circuit boards built for demanding electronic systems and high-end applications.

HDI Boards20 %

High-density interconnect boards used where compact design and routing density matter.

Multilayer Boards20 %

Multilayer PCB products for more complex circuitry and higher functionality.

Flex-Rigid Boards10 %

Rigid-flex PCB solutions used in space-constrained or mission-critical devices.

Specialty End-Market Supply10 %

PCB supply for defense, aerospace, and medical customers with qualification requirements.

Asiakkaat

Eltek sells to customers that need high-reliability boards rather than commodity electronics inputs. Its end markets include defense, aerospace, and medical customers, which typically require tight technical specifications, certification standards, and dependable supply. The company also serves industrial and other international customers through direct sales, a North American subsidiary, and distributors.

Defense

Buys ITAR-compliant and certified PCBs for defense projects and systems.

Aerospace

Buys high-reliability multilayer and flex-rigid boards for aerospace electronics.

Medical

Buys complex boards for medical devices where quality and consistency matter.

Industrial and Other International

Buys specialty PCB products through global customers and distribution channels.

Strategia

Eltek’s strategy is centered on winning more high-value PCB programs in defense and other demanding end markets. The company is also expanding its presence in the U.S. and international markets while using certifications and technical capability to support qualification-based buying decisions. Its ability to deliver specialized products over long project timelines is part of its competitive positioning.

Grow U.S. defense and aerospace businessLyhyt aikaväli

These markets favor certified, specialized suppliers and can support higher-value programs.

Increase exposure to international customersKeskipitkä aikaväli

Broader geographic reach helps diversify demand and supports order intake across regions.

Focus on complex, high-value PCB productsKeskipitkä aikaväli

Specialized boards support differentiation and align with customers that value quality and reliability.

Maantiede

2025

Eltek’s headquarters, R&D, production, and marketing center are in Israel, which anchors manufacturing and engineering. The company also operates through a North American subsidiary and uses agents and distributors in Europe, India, South Africa, and South America, giving it multi-region sales access. Recent orders referenced U.S.-based and international customers, showing that geography matters both for customer access and for logistics across delivery windows.

Israel68 %
North America9,0 %
Alankomaat8,5 %
Other countries (US filing)7,5 %
Intia6,8 %

Osuus liikevaihdosta, jonka yhtiö raportoi maantieteellisesti.

Riskit

Eltek’s business depends on project timing, customer qualification, and smooth manufacturing/logistics execution, which can cause uneven deliveries from period to period. Exposure to defense and aerospace also creates concentration and certification-related risk, while an Israel-centered operating base adds geopolitical and supply-chain sensitivity. As a PCB maker, it also faces cyclical demand, quality requirements, and competitive pricing pressure in specialty electronics markets.

Järjestetty vakavuuden mukaan
MatalaKohtalainenKorkeaMatalaKohtalainenKorkeaVaikutus →Todennäköisyys →Delivery timing and backlog conversion variability1Logistics and supply-chain disruption2Defense/aerospace customer concentration3Geopolitical exposure in Israel4
Vaikutus on riskin vakavuus ja todennäköisyys sen toteutumisen todennäköisyys lähivuosina, molemmat arvioitu yhtiön raporttien perusteella. Numerot vastaavat listaa.
  1. Delivery timing and backlog conversion variabilityVaikutus: KorkeaTodennäköisyys: Korkea

    Orders are often tied to scheduled customer programs, so revenue can move between quarters if fulfillment changes.

    Kohdistuu: PCB production and shipment scheduling

  2. Logistics and supply-chain disruptionVaikutus: KorkeaTodennäköisyys: Korkea

    The company noted unexpected logistics issues, and board manufacturing depends on timely materials and shipments.

    Kohdistuu: Production and customer deliveries

  3. Defense/aerospace customer concentrationVaikutus: KorkeaTodennäköisyys: Kohtalainen

    A meaningful share of business comes from regulated, project-based end markets with lumpy order flow.

    Kohdistuu: High-reliability end markets

  4. Geopolitical exposure in IsraelVaikutus: KorkeaTodennäköisyys: Kohtalainen

    Core operations are in Israel, which can affect production continuity, logistics, and customer servicing.

    Kohdistuu: Manufacturing and headquarters location

Kirjanpito

Harkinnanvaraiset erät
Revenue recognition on custom PCB orders

Orders may span multiple reporting periods, so recognition depends on shipment and contractual terms.

Vaikutus: Can materially change quarterly revenue timing

Quarterly comparability and backlog

A less favorable order mix or delivery timing can make reported periods uneven.

Vaikutus: Affects trend analysis and backlog interpretation

Inventory and manufacturing estimates

Specialized PCB production can require judgment on scrap, obsolescence, and production costs.

Vaikutus: Can affect gross profit and asset values

Julkisesti listattuja yhtiöitä, joilla on samankaltainen liiketoiminta.

Päivitetty: 28.9.2026

Eltek Ltd (ELTK) liikevaihto, tulos ja tunnusluvut 2025 – Clarifo