Edge technologies to optimize supply chain operation through its three business divisions. Our Robotic divisions automate inventory processes by replacing hand work with robots. Our RFID Division optimizes inventory management by marking and tracking inventory throughout the supply chain. And our Supply Chain Division integrates franchised components into our clients' products. Let's dive into the business by sharing authentic field videos that were taken by our team. Robotic Division streamlines industrial and logistics inventory processes by automating routine labor activities. It developed custom-made robotic cells and integrates off-the-shelf robotic arms using our proprietary mechanical, electrical, and software. The goal of those systems is to reduce dependency on workforce, increase capacity, accuracy, and, very important, to cut delay time. Our most popular robotic cells for the civil market are machine tending, as you can see, meaning robots that serve a machine instead of an employee, and palletizing in logistics processes.
The robotic division has successfully transitioned to the defense segment, to the military segment. We are located in Israel, and with 90% of our projects in process and production serving this rapidly growing segment. The production process in the defense industry, in the military industry, relies heavily on labor and is struggling to meet the growing demands for quantities, quality, and, most importantly, time. This transition is a call for action for the industry to embrace robotics automation and for us to grow our businesses. As a result, our primary client for the robotic division is Elbit Systems, which is one of the global leaders in the defense segment. Those videos were taken from our factory.
The second layer of our solution to our client is the RFID division that optimizes inventory management by integrating our proprietary software with cutting-edge, off-the-shelf, ruggedized equipment, such as handheld computers, forklift tablets, thermal printers, industrial scanners, wireless access. Through our proprietary software, each transaction on site is communicated instantly to the client ERP or MES system, ensuring real-time data update. We provide warehouse management software, provide and integrate, and as a complementary service to our clients, we count their inventory in the stores and warehouses, logistics centers, by our team, equipment, and proprietary software. The major clients of these divisions are Shufersal, with 300 stores in the food retail, IKEA on the non-food, and Teva in the industrial sector. Our leading partners are Zebra and Honeywell, which we are integrating their off-the-shelf equipment.
The third layer of our solution is the supply chain division that integrates franchised components, electromechanical components, as you can see, in our clients' products, our clients from the defense and the high-tech industry. Our teams of engineers collaborate closely with the client R&D teams for seamless integration of those components into their products used for varied defense applications, including aviation, space, and, as you can see here, the Iron Dome as well. We are proud to count the Israeli Aircraft Industry , Elbit Systems, and Rafael among our primary clients of these divisions. Those three customers are global leaders in the defense segment. We are selling them directly in Israel and indirectly overseas to their subcontractors overseas. Spanning the USA, we have a subsidiary in the USA as well, India, and several countries in Europe. Quick jump to the financials.
Revenues for the trailing 12 months ended June 24 amounted to $40 million, and the outlook for this year is $46 million. The TTM EBITDA trailing 12 months EBITDA amounted to $3 million. Net income for the trailing 12 months has amounted to $2 million, and the target for this year is $2.2 million, and our EPS for the trailing 12 months was $0.34. We have been communicating our annual financial targets at the beginning of each year in the past decade, and in nine out of the 10 years, we overperformed. Balance sheet. We have a relatively strong balance sheet with $32 million assets, $20 million equity, 18% higher than the market cap, our market cap, and cash net of loans of $1.4 million. Meaning, actually, we don't have loans. As you saw, we generate cash. Go back to the business trends.
The RFID division engaged in the civil market with $13.6 million TTM revenues, which approximately 60% of it are recurrent revenues attributed to service contracts for the equipment and for the software, and ongoing orders for consumables such as RFID tags, barcode labels, ribbons for the printers. The supply chain division engaged mainly in the defense segment with $26 million TTM revenues, reflecting ongoing orders of our franchise component using the production of their products. The robotic division, the revenues for the TTM revenue is $1 million only, but with ongoing projecting process that has not yielded revenue recognition yet and successful transition to the growing defense segment, we are optimistic about its future growth. Growth strategy. Both growth strategies are twofold, based on expansion overseas and strengthening our proposition. Expansion overseas. The supply chain division will utilize its franchised OEM.
Oh, this is a slide on the trends of the defense budget. As you can see, the Israeli defense budget grew by 73% between the year 2023 and 2024, and the European defense budget grew by 16% between the year 2022 and 2023. It impacts directly on our primary client and then on us. Go back to the expansion overseas, the growth strategy. The Supply Chain Division will utilize its OEM agreement with the primary client in Israel to sell to their subcontractors overseas. By that way, we generated $6 million overseas revenues in year 2023, and recently, we announced three contracts with subcontractors, one in India and two in Greece. The Robotic Division will replicate robotic defense applications developed and deployed in Israel to overseas manufacturers, strengthening our proposition.
The RFID division will strengthen its proposition by acquiring a complementary business or competitor, as we successfully did twice in the past years. The supply chain division will continue to diversify its franchise component to extend the offering for its current clients, and the robotic division will expand the variety of defense applications by expanding the penetration to the defense market. As you saw, we have just one client, major client in the defense market, Elbit. We can have more. We can have the . . Our team. Both teams include fo . We can have Rafael, which is the client of the supply chain division. Our team. Both teams include four board members, three of whom are independent. The chairman is a leading strategic consultant. We have one financial advisor expert, and one is an expert in marketing. All of them are independent.
Our executive team includes eight members with extensive experience in our business and worked for many years for BOS. Because technology is a fundamental element in our proposition, we engage two CTOs, one for the robotics and one for the R&D and for the supply chain. We engage 83 employees. 30% of them are engineers and technicians. Now to the concluding slide, the valuation. In my opinion, there is a big gap between the valuation ratio of BOS and the Russell 2000 Index, which is the appropriate comparison to do. While Russell PE, price to earnings ratio, is 18, BOS is 9. While Russell price to book value is 2.2, BOS is less than 1. Recently, and for the first time, BOS has been covered by analysts.
And according to a recent report provided by ThinkEquity, BOS target stock price is $5, 66% higher than the current stock price. Exposing BOS to the investors will help to bridge this gap, huge gap, which is why I'm here. I'm not here to raise money. I'm here to bridge the gap. And this is the first time that BOS participates in such an event. In addition, I've been conducting since September about four weekly meetings, video meetings with investors, and I will continue to do so until I see a significant change increase in the trading volume. And I invite you all to join our to participate in our third quarter video conference call. Thank you. Questions. Have you sold any robotics outside of Israel yet? Yes. We sold to subcontractors of our client in Israel, Elbit, and it is in production now in Israel.
It will be installed in Europe next year, and there is a process for more. Would you possibly consider raising money for M&A activity or any other activity? As you saw, we don't need any cash for ongoing activities. We are generating $3 million EBITDA, $2 million net income, and in between the $2.5 million free cash flow. The last time we raised money was in 2022, less than $1 million that partially financed the acquisition of a competitor, and if we love acquisition, then we'll raise money. Because we are not taking a high risk, it won't be a big acquisition. It will be financed in a combination of internal resources. We are generating cash, bank loans. We have unused credit lines of about $2.5 million and fundraising. Thank you.