M-Tron Industries: A Hidden RF Player Behind Missile Systems, Fairly Valued

M-Tron Industries (MPTI) is a niche RF component manufacturer with strong growth prospects in aerospace, defense, and communications markets. MPTI delivered double-digit sales and EBITDA growth in 2023, but margin pressure from tariffs and ramp-up costs persists. I assign a hold rating as MPTI is fairly valued against its own EV/EBITDA median, despite being undervalued versus peers.