NASDAQ: TAYD
TAYLOR DEVICES, INC.CIK 0000096536 · SIC 3569 · General Industrial Machinery & Equipment, NEC
Taylor Devices, Inc. (referred to herein as the “Company,” “we,” “us” or “our”) was incorporated in the State of New York on July 22, 1955 and is engaged in the design, development, manufacture and marketing of shock absorption, rate control, and energy storage devices for use in various types of… About this business →
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Latest financial statements
From 10-K filed Aug 18, 2026 (period ending May 31, 2026). SEC XBRL (companyfacts) — not generated by the model.
Consolidated Statements of Operations
| Description | Year ended May 31, 2026 | Year ended May 31, 2025 | Year ended May 31, 2024 |
|---|---|---|---|
| Revenue: | |||
| Total revenue / net sales | 41.6 | 46.3 | 44.6 |
| Cost of revenue / cost of sales | 23.3 | 24.8 | 23.7 |
| Gross profit | 18.3 | 21.5 | 20.8 |
| Operating expenses: | |||
| Research and development | 0.8 | 0.4 | 0.4 |
| Selling, general and administrative | 10.2 | 11.4 | 11.0 |
| Operating income | 7.3 | 9.6 | 9.5 |
| Other income/(expense), net | 1.6 | 1.4 | 1.4 |
| Income before income taxes | 9.0 | 11.0 | 10.9 |
| Income tax expense/(benefit) | 0.4 | 1.6 | 1.9 |
| Net income | 8.6 | 9.4 | 9.0 |
| Basic earnings per share | 2.70 | 3.01 | 2.68 |
| Diluted earnings per share | 2.62 | 2.87 | 2.58 |
Consolidated Balance Sheets
| Description | May 31, 2026 | May 31, 2025 |
|---|---|---|
| Current assets: | ||
| Cash and equivalents | 0.9 | 1.2 |
| Short-term investments | 40.6 | 34.8 |
| Inventories | 7.5 | 8.1 |
| Prepaid expenses and other current assets | — | 0.09 |
| Other current assets | 13.4 | 12.1 |
| Total current assets | 62.4 | 56.3 |
| Property, plant and equipment, net | 12.3 | 12.1 |
| Identifiable intangible assets, net | 0.2 | 0.3 |
| Deferred income taxes and other assets | 1.3 | 1.6 |
| TOTAL ASSETS | 77.7 | 71.6 |
| Current liabilities: | ||
| Accounts payable | 0.6 | 1.1 |
| Accrued liabilities | 2.9 | 4.1 |
| Other current liabilities | 1.4 | 4.4 |
| Total current liabilities | 4.9 | 9.6 |
| Shareholders' equity: | ||
| Common stock | 0.1 | 0.1 |
| Capital in excess of stated value | 18.1 | 14.5 |
| Retained earnings (deficit) | 69.1 | 60.5 |
| Treasury stock | 14.5 | 13.1 |
| Total shareholders' equity | 72.9 | 62.0 |
| TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | 77.7 | 71.6 |
Consolidated Statements of Cash Flows
| Description | Year ended May 31, 2026 | Year ended May 31, 2025 |
|---|---|---|
| Operating Activities: | ||
| Net cash from operating activities | 7.0 | 7.5 |
| Investing Activities: | ||
| Net cash from investing activities | (7.9) | (9.3) |
| Financing Activities: | ||
| Net cash from financing activities | 0.6 | 0.2 |
Amounts in millions USD; EPS as reported. Line labels are presentation-friendly mappings of filer XBRL tags — not a re-audit of the full statements. Use EDGAR for interactive notes and detail. Interactive statements & notes on EDGAR ↗
About TAYLOR DEVICES, INC.
Source: Item 1 (Business) from the 10-K filed August 18, 2026. Description as filed by the company with the SEC.
Item 1. Business.
Taylor Devices, Inc. (referred to herein as the “Company,” “we,” “us” or “our”) was incorporated in the State of New York on July 22, 1955 and is engaged in the design, development, manufacture and marketing of shock absorption, rate control, and energy storage devices for use in various types of machinery, equipment and structures. In addition to manufacturing and selling existing product lines, the Company continues to develop new and advanced technology products.
Principal Products
The Company manufactures and sells a group of very similar products that have many different applications for customers. These similar products are included in one of nine categories, namely, Seismic Dampers, Fluidicshoks®, Crane and Industrial Buffers, Self-Adjusting Shock Absorbers, Liquid Die Springs, Vibration Dampers, Machined Springs, Custom Shock and Vibration Isolators, and Custom Actuators. Custom derivations of all of these products are designed and manufactured for many aerospace and defense applications. The following is a summary of the capabilities and applications for these products.
Seismic Dampers are designed to mitigate the effects of earthquakes on structures and represent a substantial portion of the Company’s sales. Fluidicshoks® are small, extremely compact shock absorbers with up to 19,200 inch-pound capacities, produced in 12 standard sizes for primary use in the defense, aerospace and commercial industries. Crane and Industrial Buffers are larger versions of the Fluidicshoks® with up to 10,890,000 inch-pound capacities, produced in more than 50 standard sizes for industrial applications on cranes and crane trolleys, truck docks, ladle and ingot cars, ore trolleys and train car stops. Self-Adjusting Shock Absorbers, which include versions of Fluidicshoks® and crane and industrial buffers, automatically adjust to different impact conditions, and are designed for high cycle application primarily in heavy industry. Liquid Die Springs are used as component parts of machinery and equipment used in the manufacture of tools and dies. Vibration Dampers are used primarily by the aerospace and defense industries to control the response of electronics and optical systems subjected to air, ship, or spacecraft vibration. Machined Springs are precisely controlled mechanical springs manufactured from a variety of materials. These are used primarily for aerospace applications that require custom features that are not possible with conventional wound coil springs. Custom Shock and Vibration Isolators are comprised of various configurations including liquid springs, fluid dampers, elastomeric springs and Pumpkin™ Mounts. They are typically used for defense applications. Custom Actuators are typically of the gas-charged type, using high pressure, that have custom features not available from other suppliers. These actuators are used for special aerospace and defense applications.
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Sales and Distribution
The Company uses a technical sales force consisting of Company employees for sales in the United States. From time to time, the Company uses the services of non-employee sales representatives for sales throughout the rest of the world. Specialized technical sales in custom marketing activities outside the U.S. are serviced by these sales representatives under the direction and with the assistance of the Company's in-house technical sales staff. Sales representatives typically have non-exclusive agreements with the Company, which, in most instances, provide for payment of commissions on sales at 5% to 10% of the product's net aggregate
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selling price. The Company recorded zero non-employee commission expense for both the years ending May 31, 2026 and 2025. A limited number of foreign sales representatives also have non-exclusive agreements with the Company to purchase the Company's products for resale purposes.
Competition
The Company faces some competition for hydraulic energy absorbers on mature aerospace and defense programs. Other competition in these sectors include the use of competing technologies, not necessarily of similar design as the Company’s products. For the industrial products group, several foreign companies and two U.S. companies are the Company’s main competitors in the production of crane buffers and industrial shock absorbers.
The Company competes directly against three other firms supplying structural damping devices for use in the U.S. For structural applications outside of the U.S., the Company competes directly with several other firms, particularly in Japan and Taiwan. The Company competes with numerous other firms that supply alternative seismic protection technologies.
Raw Materials and Supplies
The principal raw materials and supplies used by the Company in the manufacture of its products are provided by numerous U.S. and foreign suppliers. Management believes that the loss of any one of these suppliers would not have a material adverse effect on the Company.
Dependence Upon Major Customers
Sales to five customers accounted for approximately 45% (11%, 11%, 10%, 8% and 5%, respectively) of our net sales for 2026. Sales to three customers accounted for approximately 42% (21%, 15% and 6%, respectively) of our net sales for 2025. Management believes that the loss of any or all of these customers, unless the business is replaced by the Company, would have a material adverse effect on the Company.
Patents, Trademarks and Licenses
The Company holds 24 patents expiring at different times until the year 2042.
Terms of Sale
The Company had no inventory out on consignment and there were no consignment sales for the years ended May 31, 2026 and 2025. No extended payment terms are offered. During the year ended May 31, 2026, delivery time after receipt of orders averaged 8 to 10 weeks for the Company's standard industrial products. Due to the volatility of structural and aerospace/defense programs, we usually require progress payments for larger projects where the Company supplies custom designed components.
Need for Government Approval of Principal Products or Services
Contracts between the Company and the federal government or its independent contractors are subject to termination at the election of the federal government. Contracts are generally entered into on a fixed price basis. If the federal government should limit defense spending, these contracts could be reduced or terminated, which management believes would have a materially adverse effect on the Company.
Research and Development
To accommodate growth and to maintain its presence in current markets, the Company engages in product research and development activities in connection with the design of its products. Occasionally, research and development for products in the aerospace and defense sectors is funded by customers or the federal government. The Company also engages in research testing of its products. For the years ended May 31, 2026 and 2025, the Company expended $776,000 and $444,000, respectively, on product research. For the years ended May 31, 2026 and 2025, government-funded research and development totaled $1,482,000 and $1,141,000, respectively. For the years ended May 31, 2026 and 2025, customer-funded research and development totaled $90,000 and $228,000, respectively.
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Government Regulation
Compliance with federal, state, and local laws and regulations regulating the discharge of materials into the environment has had no material effect on the Company, and the Company believes that it is in substantial compliance with these laws and regulations.
The Company is subject to the Occupational Safety and Health Act ("OSHA") and the rules and regulations promulgated thereunder, which establish strict standards for the protection of employees, and impose fines for violations of such standards. The Company believes that it is in substantial compliance with OSHA and such rules and regulations promulgated thereunder.
The Company is also subject to regulations relating to production of products for the federal government. These regulations allow for frequent governmental audits of the Company's operations and extensive testing of Company products. The Company believes that it is in substantial compliance with these regulations.
Employees
As of May 31, 2026, the Company had 135 total employees, consisting of 134 full-time employees and one part-time employee. The Company has good relations with its employees, and none of the Company’s employees are covered by a collective bargaining agreement.