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When you board a small plane, you know you are in for a different experience than when you fly on a jet. Most likely you will feel the slightest change in the air currents and less protection from turbulence.

Small cap stocks tend to be similar to smaller aircraft in the sense that they are more prone to fluctuations. Having a cash reserve provides these companies with an essential resource to draw upon for both unexpected delays and course corrections. Further, when a small cap sized company has built up liquidity, it is likely they have experienced management in place that prioritize fiscal constraints.

For our list today we narrowed our field to the industrial sector to find small cap stocks with a reservoir of cash. In addition, they all have projected EPS growth rates above 25% over the next five years. Use the data and charts below to begin your own estimation of these small cap industrial stocks.

EPS growth (earnings per share growth) illustrates the growth of earnings per share over time. The 5-Year Expected EPS Growth Rate is a long-term annual growth estimate, where the growth projections are made by analysts, the company or other credible sources.

The Current ratio is a liquidity ratio used to determine a company's financial health. The metric illustrates how easily a firm can pay back its short obligations all at once through current assets. A company that has a current ratio of one or less is generally a liquidity red flag. Now this doesn't mean the company will go bankrupt tomorrow, but it also doesn't bode well for the company, and may indicate that it could have an issue paying back upcoming obligations.

The Quick ratio measures a company's ability to use its cash or assets to extinguish its current liabilities immediately. Quick assets include assets that presumably can be converted to cash at close to their book values. A company with a Quick Ratio of less than 1 cannot currently pay back its current liabilities. The quick ratio is more conservative than the Current Ratio because it excludes inventory from current assets, since some companies have difficulty turning their inventory into cash. If short-term obligations need to be paid off immediately, sometimes the current ratio would overestimate a company's short-term financial strength. In general, the higher the ratio, the greater the company's liquidity (i.e., the better able to meet current obligations using liquid assets).

We first looked for small cap industrial stocks. Next, we then screened for businesses with projected high growth, measured by 5-year projected EPS growth above 25%. We next screened for businesses that have strong liquidity (Current Ratio>2)(Quick Ratio>2).

Do you think these small-cap stocks will trade at a higher valuation? Use our screened list as a starting point for your own analysis.

1) Proto Labs, Inc. (NYSE:PRLB)

SectorIndustrial Goods
IndustryMachine Tools & Accessories
Market Cap$720.83M

PRLB stock chart

Key Metrics

5-Year Projected Earnings Per Share Growth Rate29.00%
Current Ratio8.45
Quick Ratio8.03
Short Interest11.29%

Proto Labs, Inc. produces CNC machined and injection molded plastic parts. It offers products that are made of various engineering-grade resins, such as ABS, polycarbonate, nylon, acetal, polypropylene, acrylic, PBT, HDPE, LDPE, TPE, and TPU, as well as LCP, including glass or fiber filled grades. The company was founded in 1999 and is headquartered in Maple Plain, Minnesota. It has locations in the United States, the United Kingdom, Germany, Japan, Italy, France, and Spain.

2) Griffon Corporation (NYSE:GFF)

SectorIndustrial Goods
IndustryGeneral Building Materials
Market Cap$612.69M

GFF stock chart

Key Metrics

5-Year Projected Earnings Per Share Growth Rate26.95%
Current Ratio3.14
Quick Ratio2.11
Short Interest3.45%

Griffon Corporation manufactures home and building, technology related, and plastic products. The company was founded in 1959 and is headquartered in New York, New York.

3) Cementos Pacasmayo SAA (NYSE:CPAC)

SectorIndustrial Goods
Market Cap$1.32B

CPAC stock chart

Key Metrics

5-Year Projected Earnings Per Share Growth Rate34.40%
Current Ratio6.86
Quick Ratio5.23
Short Interest0.08%

Cements Pacasmayo S.A.A. and its subsidiaries engage in the production and commercialization of cement, blocks, concrete, and lime in the North region of Peru. The company is based in Santiago de Surco, peru. Cements Pacasmayo S.A.A. is a subsidiary of Inversiones Pacasmayo S.A.

4) Aixtron SE (NASDAQ:AIXG)

SectorIndustrial Goods
IndustryDiversified Machinery
Market Cap$1.33B

AIXG stock chart

Key Metrics

5-Year Projected Earnings Per Share Growth Rate60.00%
Current Ratio4.30
Quick Ratio2.43
Short Interest3.08%

AIXTRON Aktiengesellschaft manufactures and sells deposition equipment to the semiconductor industry. Its solutions are used by a range of customers to build components for electronic and opto-electronic applications, which are used in displays, signaling, lighting, computing, fiber optic communication systems, wireless and mobile telephony applications, and optical and electronic storage devices. AIXTRON Aktiengesellschaft was founded in 1983 and is headquartered in Aachen, Germany.

5) TASER International Inc. (NASDAQ:TASR)

SectorIndustrial Goods
IndustryAerospace/Defense Products & Services
Market Cap$316.45M

TASR stock chart

Key Metrics

5-Year Projected Earnings Per Share Growth Rate30.00%
Current Ratio3.87
Quick Ratio3.16
Short Interest5.05%

TASER International, Inc. develops, manufactures, and sells electronic control devices for use in the law enforcement, military, corrections, private security, and personal defense markets. ECDs transmit electrical pulses along the wires and into the body affecting the sensory and motor functions of the peripheral nervous system. TASER International, Inc. was founded in 1993 and is headquartered in Scottsdale, Arizona.

*Company profiles were sourced from Google Finance and Yahoo Finance. Financial data was sourced from Finviz on 10/15/2012.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Business relationship disclosure: This article was prepared for ZetaKap Media by one of our full-time analysts. We did not receive compensation for this article (other than from Seeking Alpha), and we have no business relationship with any company whose stock is mentioned in this article.