TRNS
IndustrialsTranscat, Inc. · Industrial - Distribution · $680M
What is Transcat, Inc.?
Transcat, Inc. is a Rochester-based provider of calibration services and test instrument distribution, serving highly regulated industries across the United States, Canada, and internationally. Founded in 1977, the company operates through two distinct business segments.
Transcat generates revenue through two segments. Its Service segment delivers calibration, repair, inspection, preventative maintenance, and compliance consulting, supported by proprietary software tools that help customers manage instrument assets and service records. Its Distribution segment sells and rents test, measurement, and control instruments, offering value-added services such as equipment certification and kitting. The company's primary customers operate in life sciences — including pharmaceutical, biotechnology, and medical device companies — as well as aerospace, defense, and industrial manufacturing.
Transcat was founded in 1977 and is headquartered in Rochester, US.
- Calibration and repair services for regulated industries
- CalTrak proprietary asset and workflow management software
- Online customer portal for calibration record management
- Sale and rental of test and measurement instruments
- Equipment kitting and certification services
Is TRNS a Good Stock to Buy?
UQS Score rates TRNS as Poor overall, placing it in the lowest tier of our composite ranking.
Among the five pillars, Risk is the one area where Transcat registers a Neutral reading — suggesting the business does not carry extreme financial or operational hazards relative to its size. This provides a modest floor for investors evaluating downside scenarios.
Quality, Moat, Growth, and Valuation all register as Weak or Elevated, indicating that the business currently struggles to demonstrate durable competitive advantages, meaningful earnings quality, or a growth trajectory that justifies its current pricing.
Pro members can view the complete pillar breakdown and underlying financial metrics to understand exactly where Transcat falls short. Sign up free →
Past performance does not guarantee future results. UQS Score is based on fundamental data and is not a buy/sell recommendation.
Does TRNS pay dividends?
No — Transcat, Inc. does not currently pay a dividend.
Transcat does not currently pay a dividend. For a small-cap industrial services company, retaining cash to fund service center expansion, technology development, and potential acquisitions is a common capital allocation approach. Income-focused investors should be aware that TRNS does not offer a yield at this time.
When does TRNS report earnings?
Transcat reports earnings on a quarterly cadence, consistent with standard practice for US-listed equities.
The company's recent results reflect the challenges captured in its UQS pillar profile — growth has been subdued and profitability metrics remain below what the market typically rewards with a premium valuation. Investors should track quarterly updates for any shifts in service segment momentum or distribution trends.
For the most recent quarter's results and guidance, visit Transcat's official investor relations page.
TRNS Price History
+54.5% over 5Y
Monthly close, adjusted for stock splits and dividend reinvestment.
What if I invested in Transcat, Inc.?
Based on Transcat, Inc.'s historical closing prices, adjusted for stock splits and dividend reinvestment. Past performance does not guarantee future results. This is for informational purposes only and is not financial advice.
TRNS Long-term Outlook
Transcat's fundamental outlook, as reflected in its UQS Growth and Risk pillar labels, points to a company navigating a challenging period. Growth is rated Weak, suggesting limited near-term expansion in revenue or earnings power. The Neutral Risk rating offers some reassurance that the business is not in acute financial distress, but the Elevated Valuation label indicates the market may already be pricing in a recovery that the fundamentals have yet to support.
Growth drivers
- Expansion of calibration services into new regulated industry verticals
- Adoption of proprietary software tools deepening customer relationships
- Potential bolt-on acquisitions in fragmented calibration services market
Key risks
- Weak moat leaves revenue vulnerable to competition from larger service providers
- Elevated valuation creates downside risk if growth expectations are not met
- Dependence on life sciences sector spending cycles and regulatory environments
TRNS vs Peers
Transcat operates in the broader industrials distribution and services space, where it competes indirectly with other specialty distributors and service-oriented industrial companies.
Wajax is a Canadian industrial products and services distributor with a broader equipment portfolio spanning multiple heavy industries, giving it greater revenue diversification than Transcat's calibration-focused model.
ADENTRA focuses on architectural building products distribution in North America, operating in a different end market but competing for similar small-cap industrial investor attention.
Titan Machinery distributes agricultural and construction equipment, serving a cyclical customer base that differs meaningfully from Transcat's regulated-industry clientele.
Frequently Asked Questions
What does Transcat do?
Transcat provides calibration, repair, and inspection services for precision instruments, primarily serving life sciences, aerospace, and industrial manufacturing companies. It also distributes and rents test and measurement equipment through its Distribution segment, supported by proprietary software for asset management.
Does TRNS pay dividends?
Transcat does not currently pay a dividend. The company retains its cash for reinvestment into service operations, technology, and potential acquisitions rather than returning capital to shareholders through income distributions.
When does TRNS report earnings?
Transcat follows a standard quarterly earnings reporting schedule. Specific dates are not covered by our data source — check Transcat's investor relations page for the most current schedule and recent filings.
Is TRNS a good stock to buy?
UQS Score rates TRNS as Poor, reflecting Weak readings across Quality, Moat, and Growth pillars alongside an Elevated Valuation. This combination suggests the stock carries meaningful risk relative to its current pricing. The full pillar breakdown is available to Pro members.
Is TRNS overvalued?
The UQS Valuation pillar for TRNS is rated Elevated, indicating the stock's current pricing appears stretched relative to its underlying fundamentals. When paired with Weak Growth and Quality scores, this creates a challenging risk-reward profile for new investors.
How does TRNS compare to its competitors?
Transcat operates in a niche calibration services market that differs from broader industrial distributors like Wajax or Titan Machinery. Its focus on regulated industries gives it a specialized customer base, but its UQS profile suggests it has not yet translated that specialization into a durable competitive moat.
What is TRNS's market cap bracket?
Transcat is classified as a small-cap company. This places it in a segment of the market that can offer growth potential but typically carries higher volatility and less analyst coverage than large- or mega-cap peers.
Who founded Transcat?
Transcat was founded in 1977. For detailed founding history and leadership background, the company's official website and investor relations materials provide publicly available information.
Is TRNS a long-term quality indicator?
Based on UQS pillar ratings, Transcat's long-term quality profile is currently rated Poor. Weak scores across Quality, Moat, and Growth suggest the business has not yet established the durable characteristics that UQS associates with strong long-term compounders. Monitoring future pillar changes is advisable.
What is the main competitive advantage of Transcat?
Transcat's most differentiated asset is its focus on highly regulated industries — particularly life sciences — where calibration compliance is mandatory rather than discretionary. Its proprietary CalTrak software also creates some customer stickiness, though the UQS Moat pillar currently rates this advantage as Weak.
What sector does TRNS belong to?
Transcat belongs to the Industrials sector, specifically within calibration services and test instrument distribution. Its regulated-industry customer base gives it some insulation from broad economic cycles, though it remains subject to life sciences and manufacturing spending trends.
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Pro Analysis
TRNS — Score History
| Date | UQS | Quality | Moat | Growth | Risk | Value | Change |
|---|---|---|---|---|---|---|---|
| May 22, 2026 | 40.5 | 31.4 | 16.0 | 67.2 | 50.4 | 51.3 | +0.2 |
| May 16, 2026 | 40.3 | 31.2 | 16.0 | 67.2 | 50.4 | 50.2 | +18.6 |
| May 7, 2026 | 21.7 | 22.2 | 16.0 | 4.4 | 50.4 | 24.8 | -0.1 |
| May 3, 2026 | 21.8 | 22.2 | 16.0 | 4.2 | 50.4 | 25.4 | +0.2 |
| Apr 26, 2026 | 21.6 | 22.2 | 16.0 | 4.5 | 50.4 | 24.2 | -0.1 |
| Apr 22, 2026 | 21.7 | 22.2 | 16.0 | 4.7 | 50.4 | 24.2 | -0.2 |
| Apr 19, 2026 | 21.9 | 22.2 | 16.0 | 5.8 | 50.4 | 24.2 | +0.1 |
| Apr 18, 2026 | 21.8 | 22.2 | 16.0 | 6.1 | 50.4 | 23.2 | -0.2 |
| Apr 14, 2026 | 22.0 | 22.2 | 16.0 | 6.1 | 50.4 | 24.8 | -0.1 |
| Apr 12, 2026 | 22.1 | 22.2 | 16.0 | 5.9 | 50.4 | 25.4 | -0.2 |
TRNS — Pillar Breakdown
Quality
— 31.4/100 (25%)Transcat, Inc. currently shows below-average quality metrics, suggesting challenges with profitability.
How effectively capital is deployed to generate returns.
Profitability relative to shareholders' equity.
Ability to convert revenue into operating profit.
Bottom-line profit as a share of revenue.
Asset productivity — how much gross profit each dollar of assets generates.
Free cash flow relative to market value.
Growth
— 67.2/100 (20%)Transcat, Inc. demonstrates healthy growth trends across revenue and earnings.
Revenue trajectory over the last twelve months.
Compound annual revenue growth rate over 3 years.
Year-over-year earnings per share growth.
Analyst consensus for future revenue growth.
Analyst consensus for future earnings growth.
Risk
— 50.4/100 (15%)Transcat, Inc. has some risk factors including moderate leverage or solvency concerns.
Debt levels relative to earnings capacity.
Total debt relative to shareholder equity.
Short-term liquidity — ability to pay near-term obligations.
Earnings capacity relative to interest payments.
Valuation
— 51.4/100 (15%)Transcat, Inc. has a mixed valuation — some metrics suggest fair value while others appear stretched.
Inverse of forward P/E — higher yield means cheaper stock.
How many years of FCF the market cap represents.
P/E relative to earnings growth — lower is more attractive.
Enterprise value multiple relative to sector median.
Moat
— 16/100 (25%)Transcat, Inc. operates in a highly competitive environment with limited sustainable advantages. The Moat pillar evaluates competitive advantages across five dimensions: Switching Costs, Network Effects, Cost Advantage, Intangible Assets, and Scale & Ecosystem. Sign in to customize moat ratings for TRNS.
Score Composition
Financial Data
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How is the TRNS UQS Score Calculated?
The UQS (Unified Quality Score) for Transcat, Inc. is calculated using a proprietary 6-pillar framework with 29 financial metrics. Each pillar evaluates a different dimension on a 0–100 scale, then combines into a single weighted score. Scoring thresholds are calibrated per sector. Momentum is an optional Pro toggle — without it, you get the 5-pillar / 25-metric core shown below.
Quality (25%) measures profitability and capital efficiency — ROIC, ROE, margins, GP/Assets, and FCF Yield.
Moat (25%) assesses Transcat, Inc.'s competitive advantages across switching costs, network effects, cost advantages, intangible assets, and ecosystem scale.
Growth (20%) tracks revenue trajectory and earnings momentum, combining historical results with analyst forward estimates.
Risk (15%) is inversely scored — lower leverage and strong balance sheet health result in higher scores.
Valuation (15%) measures whether Transcat, Inc. is fairly priced using earnings yield, price-to-FCF, PEG ratio, and EV/EBITDA relative to sector peers.
Six investor-inspired presets are available, each with different pillar weights: Balanced, Buffett, Munger, Lynch, Cathie Wood, and Graham. The public score shown here uses the Balanced preset. Learn more in our FAQ.