Company: SXI
Filing Date: 2025-08-04
Form Type: 10-K
Source: 0001437749-25-024450
Chunk: 835

Company: STANDEX INTERNATIONAL CORP/DE/
Filing Date: 2025-08-04
Form: 10-K
Item: Item 2
Chunk 835
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 Ratio was 2.60:1.

As of June 30, 2025, we had borrowings under our facility of $553.2 million. The effective rate of interest for our outstanding borrowings is 6.38%.  Our primary cash requirements in addition to day-to-day operating needs include interest payments, capital expenditures, acquisitions, share repurchases, and dividends. 

Our primary sources of cash are cash flows from continuing operations and borrowings under the facility.  We expect that fiscal year 2026 depreciation and amortization expense will be between $24.0 million and $26.0 million and $15.5 million and $17.5 million, respectively.

The following table sets forth our capitalization at June 30:

      2025 

      2024 

      Long-term debt 
      
     $
     552,515

     $
     148,876

      Less cash and cash equivalents 

     104,542

     154,203

      Net (cash) debt 

     447,973

     (5,327)

      Stockholders' equity 

     711,677

     621,503

      Total capitalization 
      
     $
     1,159,650

     $
     616,176

Stockholders’ equity increased year over year by $90.2 million, primarily as a result of current year net income of $55.7 million and stock issued for acquisitions of $26 million. The Company's net (cash) debt to capital percentage changed to (38.6)% as of June 30, 2025 from (0.9)% in the prior year. 

At June 30, 2025, we expect to pay estimated interest payments of $176 million within the next five years. This estimate is based upon the loan balance, interest rate, and credit spread as of June 30, 2025. If we take into consideration the change in credit spread that will take effect in August 2025 and the interest rate at June 30, 2025, then the amount of estimated interest payments for the next five years would be $169 million. See Item 7A for further discussions surrounding interest rate exposure on our variable rate borrowings.

Post-retirement benefits and pension plan contribution payments represent future pension payments to comply with local funding requirements. Our policy is to fund domestic pension liabilities in accordance