Frequency Electronics (FEIM) Financials

$71.12 +2.56 (+3.73%)

Closing price 04:00 PM Eastern

Extended Trading

$73.70 +2.58 (+3.63%)

As of 07:59 PM Eastern

Annual Income Statements for Frequency Electronics

This table shows Frequency Electronics' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	4/30/2015	4/30/2016	4/30/2017	4/30/2018	4/30/2019	4/30/2020	4/30/2021	4/30/2022	4/30/2023	4/30/2024	4/30/2025
Net Income / (Loss) Attributable to Common Shareholders	1.70	0.08	-4.50	-27	-2.53	-9.58	0.48	-9.39	-5.06	5.59	24
Consolidated Net Income / (Loss)	2.83	1.01	-4.82	-24	-2.53	-10	0.68	-8.66	-5.50	5.59	24
Net Income / (Loss) Continuing Operations	2.83	2.20	-4.92	-22	-2.53	-10	0.68	-8.66	-5.50	5.59	24
Total Pre-Tax Income	4.54	3.27	-7.04	-11	-2.47	-12	0.48	-8.66	-5.43	5.46	12
Total Operating Income	3.68	2.47	-7.53	-12	-2.82	-11	-0.96	-8.04	-4.67	5.02	12
Total Gross Profit	24	19	11	5.16	16	5.75	17	8.60	7.85	19	30
Total Revenue	77	55	50	39	50	42	54	48	41	55	70
Operating Revenue	77	55	50	39	50	42	54	48	41	55	70
Total Cost of Revenue	53	36	39	34	34	36	37	40	33	37	40
Operating Cost of Revenue	53	36	39	34	34	36	37	40	33	37	40
Total Operating Expenses	20	17	19	18	19	17	18	17	13	14	18
Selling, General & Admin Expense	14	11	12	11	12	12	13	12	9.37	10	12
Research & Development Expense	5.67	5.43	6.88	6.95	6.51	5.08	4.69	4.98	3.15	3.38	6.08
Total Other Income / (Expense), net	0.86	0.81	0.49	1.12	0.34	-0.85	1.43	-0.62	-0.76	0.45	0.41
Interest Expense	0.14	0.13	0.15	0.08	0.08	0.11	0.13	0.08	0.16	0.11	0.10
Interest & Investment Income	1.04	0.49	0.55	1.27	0.29	0.33	0.46	-0.60	-0.61	0.56	0.52
Other Income / (Expense), net	-0.04	0.45	0.09	-0.07	0.13	-1.07	1.10	0.05	0.01	-0.01	-0.00
Income Tax Expense	1.71	1.07	-2.12	11	0.06	-1.74	-0.20	0.00	0.07	-0.13	-12
Basic Earnings per Share	$0.33	$0.12	($0.55)	($2.69)	($0.28)	($1.10)	$0.07	($0.93)	($0.59)	$0.59	$2.46
Weighted Average Basic Shares Outstanding	8.61M	8.73M	8.79M	8.84M	8.92M	9.07M	9.18M	9.30M	9.34M	9.43M	9.61M
Diluted Earnings per Share	$0.32	$0.11	($0.55)	($2.69)	($0.28)	($1.10)	$0.07	($0.93)	($0.59)	$0.59	$2.46
Weighted Average Diluted Shares Outstanding	8.91M	8.94M	8.79M	8.84M	8.92M	9.33M	9.25M	9.30M	9.34M	9.43M	9.61M

This table shows Frequency Electronics' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026	Q3 2026
Period end date	7/31/2023	10/31/2023	1/31/2024	4/30/2024	7/31/2024	10/31/2024	1/31/2025	4/30/2025	7/31/2025	10/31/2025	1/31/2026
Net Income / (Loss) Attributable to Common Shareholders	2.04	0.80	0.13	2.63	2.43	2.65	15	3.20	0.63	1.80	1.57
Consolidated Net Income / (Loss)	2.04	0.80	0.13	2.63	2.43	2.65	15	3.20	0.63	1.80	1.57
Net Income / (Loss) Continuing Operations	2.04	0.80	0.13	2.63	2.43	2.65	15	3.20	0.63	1.80	1.57
Total Pre-Tax Income	2.05	0.80	0.14	2.48	2.56	2.79	3.58	3.21	0.56	1.77	1.44
Total Operating Income	2.06	0.94	-0.47	2.49	2.37	2.62	3.47	3.28	0.36	1.71	1.27
Total Gross Profit	4.87	4.33	3.10	6.28	6.70	7.62	8.29	7.50	5.08	6.54	6.63
Total Revenue	12	14	14	16	15	16	19	20	14	17	17
Operating Revenue	12	14	14	16	15	16	19	20	14	17	17
Total Cost of Revenue	7.54	9.25	11	9.30	8.38	8.20	11	12	8.73	11	10
Operating Cost of Revenue	7.54	9.25	11	9.30	8.38	8.20	11	12	8.73	11	10
Total Operating Expenses	2.81	3.39	3.58	3.79	4.33	5.00	4.82	4.22	4.72	4.82	5.36
Selling, General & Admin Expense	2.30	2.55	2.62	2.71	2.85	3.39	3.38	2.68	3.59	3.62	3.59
Research & Development Expense	0.51	0.84	0.96	1.08	1.49	1.61	1.44	1.54	1.13	1.20	1.76
Total Other Income / (Expense), net	-0.01	-0.14	0.61	-0.02	0.20	0.18	0.11	-0.07	0.19	0.06	0.17
Interest Expense	0.03	0.03	0.03	0.02	0.03	0.03	0.03	0.03	0.02	0.02	0.02
Interest & Investment Income	0.02	-0.11	0.64	0.01	0.22	0.20	0.14	-0.05	0.22	0.15	0.19
Other Income / (Expense), net	-	0.00	0.00	-	0.00	-0.00	0.00	-	-0.00	-0.08	0.00
Income Tax Expense	0.01	0.01	0.01	-0.15	0.13	0.14	-12	0.01	-0.08	-0.03	-0.13
Basic Earnings per Share	$0.22	$0.08	$0.01	$0.28	$0.25	$0.28	$1.60	$0.33	$0.07	$0.18	$0.16
Weighted Average Basic Shares Outstanding	9.38M	9.40M	9.44M	9.54M	9.54M	9.59M	9.63M	9.61M	9.72M	9.76M	9.80M
Diluted Earnings per Share	$0.22	$0.08	$0.01	$0.28	$0.25	$0.28	$1.60	$0.33	$0.07	$0.18	$0.16
Weighted Average Diluted Shares Outstanding	9.38M	9.40M	9.44M	9.54M	9.54M	9.59M	9.63M	9.61M	9.72M	9.76M	9.80M

This table details how cash moves in and out of Frequency Electronics' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	4/30/2015	4/30/2016	4/30/2017	4/30/2018	4/30/2019	4/30/2020	4/30/2021	4/30/2022	4/30/2023	4/30/2024	4/30/2025
Net Change in Cash & Equivalents	-0.48	-1.14	-3.34	5.13	-4.76	0.13	6.00	1.75	0.49	7.22	-13
Net Cash From Operating Activities	1.88	2.92	3.89	4.53	-0.10	-1.41	12	4.04	1.18	8.71	-1.43
Net Cash From Continuing Operating Activities	2.04	2.78	3.51	3.29	-3.18	-1.41	12	4.04	1.18	8.71	-1.43
Net Income / (Loss) Continuing Operations	2.83	2.20	-4.92	-22	-2.53	-10	0.68	-8.66	-5.50	5.59	24
Consolidated Net Income / (Loss)	2.83	1.01	-4.82	-24	-2.53	-10	0.68	-8.66	-5.50	5.59	24
Depreciation Expense	2.94	2.50	2.64	2.48	2.80	3.32	3.30	3.03	2.43	2.12	2.06
Non-Cash Adjustments To Reconcile Net Income	2.03	1.78	3.25	7.96	6.97	3.57	-3.80	12	-1.21	0.73	-3.58
Changes in Operating Assets and Liabilities, net	-5.92	-2.27	-4.29	15	-7.34	1.73	12	-2.11	5.45	0.26	-24
Net Cash From Investing Activities	1.16	-3.53	-1.45	0.34	-4.66	-3.43	-1.19	-2.28	8.67	-1.49	-1.81
Net Cash From Continuing Investing Activities	1.16	-3.35	-1.41	0.29	-4.66	-3.43	-1.19	-2.28	8.67	-1.49	-1.81
Purchase of Property, Plant & Equipment	-4.16	-3.26	-5.23	-1.42	-2.77	-1.48	-1.24	-1.86	-0.92	-1.49	-1.81
Net Cash From Financing Activities	-3.90	0.14	-6.67	0.00	0.00	4.97	-4.97	0.00	-9.35	0.00	-9.94
Net Cash From Continuing Financing Activities	-3.90	0.14	-6.67	0.00	0.00	4.97	-4.97	0.00	-9.35	0.00	-9.94
Repurchase of Common Equity	-	-	-	-	-	-	-	-	-	0.00	-0.38
Payment of Dividends	-	-	-	-	-	-	-	0.00	-9.35	0.00	-9.57
Cash Interest Paid	0.14	0.13	0.15	0.08	0.08	0.10	0.12	0.08	0.13	0.11	0.10
Cash Income Taxes Paid	1.85	1.31	0.34	0.33	0.00	0.47	0.00	0.02	0.01	0.01	0.37

This table details how cash moves in and out of Frequency Electronics' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026	Q3 2026
Period end date	7/31/2023	10/31/2023	1/31/2024	4/30/2024	7/31/2024	10/31/2024	1/31/2025	4/30/2025	7/31/2025	10/31/2025	1/31/2026
Net Change in Cash & Equivalents	-2.99	-0.35	3.90	6.66	-1.85	-6.38	-4.17	-0.79	-0.20	-1.51	-2.90
Net Cash From Operating Activities	-2.80	-0.18	4.21	7.48	-1.46	3.87	-3.63	-0.16	1.16	-0.52	-1.42
Net Cash From Continuing Operating Activities	-2.80	-0.18	4.21	7.48	-1.46	3.87	-3.63	-0.16	1.16	-0.52	-1.42
Net Income / (Loss) Continuing Operations	2.04	0.80	0.13	2.63	2.43	2.65	15	3.20	0.63	1.80	1.57
Consolidated Net Income / (Loss)	2.04	0.80	0.13	2.63	2.43	2.65	15	3.20	0.63	1.80	1.57
Non-Cash Adjustments To Reconcile Net Income	1.46	0.73	0.89	-2.35	1.33	1.27	-10	4.06	1.27	1.39	1.62
Changes in Operating Assets and Liabilities, net	-6.31	-1.71	3.19	5.08	-5.22	-0.05	-8.86	-9.47	-0.74	-3.71	-4.60
Net Cash From Investing Activities	-0.19	-0.17	-0.31	-0.82	-0.33	-0.52	-0.33	-0.63	-0.78	-0.61	-0.87
Net Cash From Continuing Investing Activities	-0.19	-0.17	-0.31	-0.82	-0.33	-0.52	-0.33	-0.63	-0.78	-0.61	-0.87
Purchase of Property, Plant & Equipment	-0.19	-0.17	-0.31	-0.82	-0.33	-0.52	-0.33	-0.63	-0.78	-0.61	-0.87
Net Cash From Financing Activities	0.00	-	-	-	-0.06	-9.73	-0.22	-	-0.58	-0.38	-0.62
Net Cash From Continuing Financing Activities	0.00	-	-	-	-0.06	-9.73	-0.22	-	-0.58	-0.38	-0.62
Repurchase of Common Equity	-	-	-	-	-0.06	-	-0.22	-	-0.58	-0.38	-0.62
Cash Interest Paid	0.03	0.03	0.03	0.03	0.03	0.03	0.03	0.03	0.02	0.02	0.02

This table presents Frequency Electronics' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	4/30/2015	4/30/2016	4/30/2017	4/30/2018	4/30/2019	4/30/2020	4/30/2021	4/30/2022	4/30/2023	4/30/2024	4/30/2025
Total Assets	118	122	113	84	87	91	99	85	74	83	94
Total Current Assets	84	86	70	52	53	51	61	56	48	58	53
Cash & Equivalents	7.22	5.82	2.16	7.87	3.68	3.81	9.81	12	12	18	4.72
Accounts Receivable	23	20	19	4.27	6.36	4.39	5.52	4.29	4.62	4.61	5.91
Inventories, net	38	36	29	26	23	23	20	20	21	23	23
Prepaid Expenses	1.27	1.06	1.11	1.05	3.08	1.71	0.99	1.16	1.07	1.20	1.07
Current Deferred & Refundable Income Taxes	-	-	-	-	-	0.85	0.44	0.27	0.03	0.04	0.00
Other Current Assets	3.06	3.21	2.61	6.55	6.67	6.95	14	8.86	10	11	18
Plant, Property, & Equipment, net	13	12	15	14	13	11	9.61	8.56	7.09	6.44	6.19
Total Noncurrent Assets	22	24	29	17	21	29	28	20	19	19	34
Goodwill	0.62	0.62	0.62	0.62	0.62	0.62	0.62	0.62	0.62	0.62	0.62
Noncurrent Deferred & Refundable Income Taxes	7.36	7.70	12	-	-	-	-	-	-	0.00	12
Other Noncurrent Operating Assets	14	15	16	17	20	28	27	20	18	18	22
Total Liabilities & Shareholders' Equity	118	122	113	84	87	91	99	85	74	83	94
Total Liabilities	26	29	24	20	24	37	43	38	42	43	38
Total Current Liabilities	8.35	10	8.11	5.26	5.84	14	21	22	27	31	23
Accounts Payable	1.72	3.17	2.44	1.84	1.19	1.42	1.08	1.08	1.46	2.35	1.36
Accrued Expenses	6.63	4.48	3.43	3.42	3.57	4.69	5.25	3.70	3.93	4.77	5.90
Current Deferred Revenue	-	-	-	-	-	-	13	11	19	22	14
Current Deferred & Payable Income Tax Liabilities	-	-	-	-	-	-	-	-	-	0.00	0.10
Other Current Liabilities	-	-	-	-	0.00	2.62	1.77	5.99	3.30	2.04	2.49
Total Noncurrent Liabilities	18	19	16	15	18	23	23	16	14	13	15
Noncurrent Employee Benefit Liabilities	11	12	13	14	14	14	14	8.73	8.31	8.09	7.93
Other Noncurrent Operating Liabilities	0.35	0.10	1.41	1.52	1.38	9.79	8.49	7.47	6.01	4.55	6.73
Total Equity & Noncontrolling Interests	92	93	89	63	63	54	55	47	33	40	56
Total Preferred & Common Equity	92	93	89	63	63	54	55	47	33	40	56
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	92	93	89	63	63	54	55	47	33	40	56
Common Stock	64	65	65	66	66	66	67	67	59	60	52
Retained Earnings	28	29	24	-0.07	-2.11	-12	-11	-20	-26	-20	3.66
Treasury Stock	-2.13	-1.89	-1.59	-1.36	-0.84	-0.20	-0.01	-0.01	-0.00	-0.00	-0.23

This table presents Frequency Electronics' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026	Q3 2026
Period end date	7/31/2023	10/31/2023	1/31/2024	7/31/2024	10/31/2024	1/31/2025	7/31/2025	10/31/2025	1/31/2026
Total Assets	76	75	78	84	78	86	93	92	94
Total Current Assets	50	50	52	59	53	50	52	51	53
Cash & Equivalents	9.06	8.71	12	16	9.70	5.52	4.51	2.99	0.09
Accounts Receivable	6.39	3.78	5.41	5.92	4.09	3.87	7.44	6.07	11
Inventories, net	23	23	23	24	25	25	25	25	26
Prepaid Expenses	1.16	1.64	1.25	1.98	1.58	1.29	1.41	1.45	0.99
Current Deferred & Refundable Income Taxes	0.03	0.03	0.02	0.00	0.01	0.05	-	0.23	0.23
Other Current Assets	11	12	11	11	12	14	14	16	15
Plant, Property, & Equipment, net	6.78	6.44	6.23	6.30	6.27	6.14	6.49	6.60	6.96
Total Noncurrent Assets	19	19	19	19	19	30	34	35	35
Goodwill	0.62	0.62	0.62	0.62	0.62	0.62	0.62	0.62	0.62
Noncurrent Deferred & Refundable Income Taxes	-	-	-	-	-	12	12	12	12
Other Noncurrent Operating Assets	18	18	19	18	18	18	22	22	22
Total Liabilities & Shareholders' Equity	76	75	78	84	78	86	93	92	94
Total Liabilities	41	38	41	51	42	35	37	34	34
Total Current Liabilities	27	25	28	39	30	23	23	20	20
Accounts Payable	1.21	1.25	1.72	1.55	1.33	1.22	1.10	1.42	3.26
Accrued Expenses	3.97	4.05	4.53	4.94	3.98	5.01	6.21	5.02	4.84
Current Deferred Revenue	-	-	18	21	23	15	13	11	9.89
Current Deferred & Payable Income Tax Liabilities	-	-	-	0.08	0.00	-	0.10	0.00	0.00
Other Current Liabilities	22	20	3.40	1.70	1.55	1.42	2.20	2.13	2.20
Total Noncurrent Liabilities	14	13	13	12	12	12	14	14	14
Noncurrent Employee Benefit Liabilities	8.27	8.23	8.19	8.05	8.01	7.94	7.88	7.82	7.78
Other Noncurrent Operating Liabilities	0.13	0.13	4.85	4.30	4.04	3.79	6.29	6.32	5.99
Total Equity & Noncontrolling Interests	35	36	37	33	36	52	56	58	60
Total Preferred & Common Equity	35	36	37	33	36	52	56	58	60
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	35	36	37	33	36	52	56	58	60
Common Stock	59	59	59	51	51	52	53	54	54
Retained Earnings	-24	-23	-23	-18	-15	0.46	4.29	6.09	7.66
Treasury Stock	-0.00	-0.00	-0.00	-0.07	-0.17	-0.35	-0.81	-1.19	-1.79

This table displays calculated financial ratios and metrics derived from Frequency Electronics' official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	4/30/2015	4/30/2016	4/30/2017	4/30/2018	4/30/2019	4/30/2020	4/30/2021	4/30/2022	4/30/2023	4/30/2024	4/30/2025
DEI Shares Outstanding	8,406,953.00	8,406,953.00	8,406,953.00	8,729,682.00	8,729,682.00	9,107,558.00	9,199,625.00	9,283,652.00	9,353,440.00	-	9,487,342.00
DEI Adjusted Shares Outstanding	8,406,953.00	8,406,953.00	8,406,953.00	8,729,682.00	8,729,682.00	9,107,558.00	9,199,625.00	9,283,652.00	9,353,440.00	-	9,487,342.00
DEI Earnings Per Adjusted Shares Outstanding	0.20	0.01	-0.54	-3.09	-0.29	-1.05	0.05	-1.01	-0.54	-	2.50
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	7.01%	-27.62%	-9.14%	-21.74%	25.64%	-16.16%	30.71%	-10.98%	-15.57%	35.55%	26.30%
EBITDA Growth	-18.27%	-17.70%	-188.68%	-107.92%	101.19%	-7,386.55%	139.74%	-244.02%	55.05%	419.86%	93.16%
EBIT Growth	-34.85%	-19.76%	-355.16%	-67.57%	78.47%	-346.89%	101.21%	-5,608.97%	41.60%	207.44%	134.02%
NOPAT Growth	-26.73%	-27.44%	-417.05%	-64.72%	77.27%	-287.72%	82.10%	-311.13%	41.88%	257.12%	345.32%
Net Income Growth	-30.05%	-64.44%	-579.70%	-393.20%	89.36%	-296.44%	106.78%	-1,373.97%	36.50%	201.69%	323.42%
EPS Growth	-30.43%	-65.63%	-600.00%	-389.09%	89.59%	-292.86%	106.36%	-1,428.57%	36.56%	200.00%	316.95%
Operating Cash Flow Growth	-48.33%	55.31%	33.01%	16.59%	-102.14%	-1,350.52%	964.04%	-66.80%	-70.89%	641.11%	-116.40%
Free Cash Flow Firm Growth	49.20%	306.54%	-165.38%	599.88%	-135.37%	109.11%	1,468.47%	-44.90%	-76.54%	324.35%	-245.59%
Invested Capital Growth	6.27%	-4.14%	-2.67%	-33.53%	7.61%	-15.41%	-21.27%	-28.69%	-17.19%	3.16%	136.79%
Revenue Q/Q Growth	-0.39%	-15.24%	15.36%	-17.68%	12.98%	-6.58%	11.06%	-10.19%	7.50%	4.88%	6.74%
EBITDA Q/Q Growth	29.67%	232.70%	-294.09%	28.64%	103.14%	10.66%	161.75%	-469.15%	79.71%	144.55%	25.93%
EBIT Q/Q Growth	-28.37%	79.16%	-510.67%	10.88%	29.15%	-23.53%	102.60%	-816.06%	57.58%	71.76%	7.15%
NOPAT Q/Q Growth	-28.82%	188.68%	-484.69%	11.63%	28.48%	-14.47%	58.54%	-300.70%	57.52%	80.91%	3.22%
Net Income Q/Q Growth	-22.38%	-3.74%	-223.34%	-61.84%	80.06%	-6.58%	118.31%	-2,065.75%	56.33%	74.00%	2.47%
EPS Q/Q Growth	-21.95%	0.00%	-223.53%	-61.08%	80.56%	-6.80%	117.50%	-1,760.00%	55.97%	78.79%	2.07%
Operating Cash Flow Q/Q Growth	-12.75%	-37.29%	11.50%	-15.21%	87.27%	-428.74%	39.96%	-40.59%	-41.66%	1,822.30%	-123.00%
Free Cash Flow Firm Q/Q Growth	35.59%	410.61%	-67.98%	31.39%	-248.62%	1,319.20%	7.90%	39.83%	-75.93%	269.05%	-859.02%
Invested Capital Q/Q Growth	-2.96%	-6.52%	-10.15%	-18.38%	-1.38%	-4.82%	-2.59%	-20.38%	6.75%	-14.05%	9.89%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	30.76%	34.78%	22.34%	13.10%	31.89%	13.85%	31.19%	17.80%	19.25%	33.62%	43.11%
EBITDA Margin	8.59%	9.77%	-9.53%	-25.33%	0.24%	-20.89%	6.35%	-10.28%	-5.47%	12.91%	19.74%
Operating Margin	4.80%	4.45%	-14.95%	-31.45%	-5.69%	-26.31%	-1.77%	-16.64%	-11.46%	9.08%	16.81%
EBIT Margin	4.75%	5.26%	-14.77%	-31.63%	-5.42%	-28.89%	0.27%	-16.54%	-11.44%	9.07%	16.80%
Profit (Net Income) Margin	3.69%	1.81%	-9.57%	-60.34%	-5.11%	-24.16%	1.25%	-17.94%	-13.49%	10.12%	33.93%
Tax Burden Percent	62.30%	30.70%	68.49%	210.88%	102.26%	85.20%	142.86%	100.01%	101.36%	102.38%	195.04%
Interest Burden Percent	124.86%	112.32%	94.64%	90.46%	92.17%	98.15%	328.28%	108.44%	116.33%	109.02%	103.54%
Effective Tax Rate	37.70%	32.68%	0.00%	0.00%	0.00%	0.00%	-42.86%	0.00%	0.00%	-2.38%	-95.04%
Return on Invested Capital (ROIC)	2.97%	2.14%	-7.01%	-14.07%	-3.86%	-15.63%	-3.42%	-18.62%	-14.22%	24.28%	63.21%
ROIC Less NNEP Spread (ROIC-NNEP)	-1.15%	6.57%	-9.76%	89.12%	0.76%	8.77%	-17.29%	-4.03%	-0.93%	21.28%	56.24%
Return on Net Nonoperating Assets (RNNOA)	0.17%	-1.05%	1.74%	-17.09%	-0.15%	-1.46%	4.66%	1.65%	0.39%	-8.89%	-13.58%
Return on Equity (ROE)	3.14%	1.09%	-5.28%	-31.16%	-4.00%	-17.09%	1.24%	-16.97%	-13.83%	15.39%	49.64%
Cash Return on Invested Capital (CROIC)	-3.11%	6.36%	-4.31%	26.21%	-11.18%	1.06%	20.39%	14.89%	4.59%	21.16%	-18.02%
Operating Return on Assets (OROA)	3.06%	2.43%	-6.32%	-12.66%	-3.15%	-13.47%	0.15%	-8.72%	-5.86%	6.35%	13.25%
Return on Assets (ROA)	2.38%	0.84%	-4.09%	-24.15%	-2.97%	-11.26%	0.72%	-9.45%	-6.91%	7.09%	26.77%
Return on Common Equity (ROCE)	3.14%	1.09%	-5.28%	-31.16%	-4.00%	-17.09%	1.24%	-16.97%	-13.83%	15.39%	49.64%
Return on Equity Simple (ROE_SIMPLE)	3.08%	1.08%	-5.40%	-37.59%	-4.01%	-18.49%	1.23%	-18.56%	-16.73%	14.05%	42.59%
Net Operating Profit after Tax (NOPAT)	2.29	1.66	-5.27	-8.68	-1.97	-7.65	-1.37	-5.63	-3.27	5.14	23
NOPAT Margin	2.99%	3.00%	-10.46%	-22.02%	-3.98%	-18.42%	-2.52%	-11.65%	-8.02%	9.30%	32.78%
Net Nonoperating Expense Percent (NNEP)	4.12%	-4.43%	2.75%	-103.19%	-4.62%	-24.40%	13.87%	-14.58%	-13.29%	3.00%	6.98%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	-	-	41.14%
Cost of Revenue to Revenue	69.24%	65.22%	77.66%	86.90%	68.11%	86.15%	68.81%	82.20%	80.75%	66.38%	56.89%
SG&A Expenses to Revenue	18.56%	20.53%	23.63%	26.92%	24.44%	27.93%	24.31%	24.15%	22.98%	18.42%	17.60%
R&D to Revenue	7.40%	9.80%	13.66%	17.64%	13.14%	12.23%	8.64%	10.30%	7.72%	6.12%	8.70%
Operating Expenses to Revenue	25.96%	30.33%	37.29%	44.56%	37.58%	40.16%	32.95%	34.45%	30.71%	24.54%	26.31%
Earnings before Interest and Taxes (EBIT)	3.63	2.92	-7.44	-12	-2.68	-12	0.15	-7.99	-4.67	5.01	12
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	6.58	5.41	-4.80	-9.98	0.12	-8.67	3.45	-4.96	-2.23	7.14	14
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.00	0.96	1.32	1.34	1.41	1.28	1.72	2.11	0.00
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.97	1.33	1.35	1.43	1.30	1.75	2.15	0.00
Price to Revenue (P/Rev)	0.00	0.00	0.00	1.55	1.68	1.75	1.44	1.24	1.38	1.52	0.00
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	162.78	0.00	0.00	15.03	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	16.58%	0.00%	5.38%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.61%	0.00%	0.00%	6.65%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	0.95	1.35	1.41	1.65	1.52	2.13	3.06	0.00
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	0.00	1.19	1.44	1.52	1.07	0.79	1.09	1.19	0.00
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	600.64	0.00	16.88	0.00	0.00	9.22	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	401.21	0.00	0.00	13.12	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	12.80	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	10.35	0.00	0.00	4.79	9.45	37.77	7.55	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	2.90	0.00	121.10	7.12	8.48	42.04	14.68	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.07	0.06	0.00	0.00	0.00	0.09	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	0.07	0.06	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Financial Leverage	-0.14	-0.16	-0.18	-0.19	-0.19	-0.17	-0.27	-0.41	-0.42	-0.42	-0.24
Leverage Ratio	1.32	1.30	1.29	1.29	1.35	1.52	1.73	1.80	2.00	2.17	1.85
Compound Leverage Factor	1.64	1.46	1.22	1.17	1.24	1.49	5.68	1.95	2.33	2.37	1.92
Debt to Total Capital	6.13%	6.04%	0.00%	0.00%	0.00%	8.39%	0.00%	0.00%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	8.39%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	6.13%	6.04%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	93.87%	93.96%	100.00%	100.00%	100.00%	91.61%	100.00%	100.00%	100.00%	100.00%	100.00%
Debt to EBITDA	0.91	1.11	0.00	0.00	0.00	-0.57	0.00	0.00	0.00	0.00	0.00
Net Debt to EBITDA	-1.89	-2.02	0.00	0.00	0.00	1.09	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to EBITDA	0.91	1.11	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	2.62	3.61	0.00	0.00	0.00	-0.65	0.00	0.00	0.00	0.00	0.00
Net Debt to NOPAT	-5.42	-6.58	0.00	0.00	0.00	1.23	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to NOPAT	2.62	3.61	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Altman Z-Score	0.00	0.00	0.00	2.45	3.19	1.50	1.98	1.35	1.01	2.08	0.00
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	10.01	8.33	8.61	9.91	9.03	3.74	2.97	2.56	1.77	1.89	2.26
Quick Ratio	4.91	3.54	3.57	3.48	3.13	1.37	1.24	1.18	0.61	0.74	0.45
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-2.39	4.95	-3.23	16	-5.72	0.52	8.17	4.50	1.06	4.48	-6.52
Operating Cash Flow to CapEx	45.27%	89.58%	74.30%	319.68%	-3.51%	-94.88%	981.19%	216.99%	128.00%	583.65%	-78.98%
Free Cash Flow to Firm to Interest Expense	-17.23	37.75	-21.56	204.60	-68.88	4.87	64.29	58.43	6.77	41.10	-62.71
Operating Cash Flow to Interest Expense	13.54	22.31	25.92	57.38	-1.17	-13.15	95.72	52.42	7.53	79.89	-13.73
Operating Cash Flow Less CapEx to Interest Expense	-16.37	-2.60	-8.97	39.43	-34.51	-27.01	85.97	28.26	1.65	66.20	-31.12
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.65	0.46	0.43	0.40	0.58	0.47	0.57	0.53	0.51	0.70	0.79
Accounts Receivable Turnover	3.75	2.63	2.62	3.39	9.32	7.72	10.95	9.85	9.15	11.97	13.26
Inventory Turnover	1.33	0.97	1.20	1.24	1.36	1.54	1.75	2.01	1.63	1.67	1.69
Fixed Asset Turnover	6.40	4.43	3.71	2.72	3.65	3.42	5.20	5.31	5.21	8.17	11.06
Accounts Payable Turnover	26.14	14.80	13.96	16.01	22.26	27.38	29.82	36.76	25.89	19.25	21.43
Days Sales Outstanding (DSO)	97.25	138.85	139.52	107.53	39.18	47.28	33.33	37.05	39.89	30.49	27.52
Days Inventory Outstanding (DIO)	273.55	376.30	304.92	294.38	268.13	236.37	208.34	181.90	224.09	218.64	215.61
Days Payable Outstanding (DPO)	13.96	24.67	26.15	22.80	16.39	13.33	12.24	9.93	14.10	18.96	17.04
Cash Conversion Cycle (CCC)	356.84	490.48	418.29	379.11	290.92	270.32	229.42	209.03	249.88	230.17	226.09
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	79	76	74	49	53	45	35	25	21	21	51
Invested Capital Turnover	0.99	0.71	0.67	0.64	0.97	0.85	1.35	1.60	1.77	2.61	1.93
Increase / (Decrease) in Invested Capital	4.68	-3.28	-2.03	-25	3.75	-8.17	-9.53	-10	-4.33	0.66	29
Enterprise Value (EV)	0.00	0.00	0.00	47	71	63	58	38	44	66	0.00
Market Capitalization	0.00	0.00	0.00	61	83	72	78	60	56	84	0.00
Book Value per Share	$10.66	$10.70	$10.17	$7.25	$7.23	$5.96	$6.02	$5.03	$3.52	$4.20	$5.79
Tangible Book Value per Share	$10.59	$10.63	$10.10	$7.18	$7.16	$5.89	$5.96	$4.96	$3.45	$4.13	$5.72
Total Capital	98	99	89	63	63	59	55	47	33	40	56
Total Debt	6.00	6.00	0.00	0.00	0.00	4.97	0.00	0.00	0.00	0.00	0.00
Total Long-Term Debt	6.00	6.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt	-12	-11	-9.98	-14	-12	-9.41	-20	-22	-12	-18	-4.72
Capital Expenditures (CapEx)	4.16	3.26	5.23	1.42	2.77	1.48	1.24	1.86	0.92	1.49	1.81
Debt-free, Cash-free Net Working Capital (DFCFNWC)	57	59	52	33	35	28	20	13	8.98	9.01	25
Debt-free Net Working Capital (DFNWC)	75	76	62	47	47	43	41	34	21	27	30
Net Working Capital (NWC)	75	76	62	47	47	38	41	34	21	27	30
Net Nonoperating Expense (NNE)	-0.54	0.66	-0.45	15	0.56	2.38	-2.05	3.04	2.23	-0.46	-0.80
Net Nonoperating Obligations (NNO)	-12	-17	-15	-14	-10	-9.41	-20	-22	-12	-18	-4.72
Total Depreciation and Amortization (D&A)	2.94	2.50	2.64	2.48	2.80	3.32	3.30	3.03	2.43	2.12	2.06
Debt-free, Cash-free Net Working Capital to Revenue	74.24%	105.79%	102.81%	83.23%	70.65%	67.77%	37.72%	26.14%	22.01%	16.29%	35.71%
Debt-free Net Working Capital to Revenue	98.28%	136.34%	122.63%	118.81%	94.65%	102.41%	74.80%	70.71%	51.56%	49.44%	42.47%
Net Working Capital to Revenue	98.28%	136.34%	122.63%	118.81%	94.65%	90.45%	74.80%	70.71%	51.56%	49.44%	42.47%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.33	$0.12	($0.55)	($2.69)	($0.28)	($1.10)	$0.07	$0.00	($0.59)	$0.59	$2.46
Adjusted Weighted Average Basic Shares Outstanding	8.61M	8.73M	8.79M	8.73M	9.00M	9.15M	9.18M	0.00	9.39M	9.54M	9.61M
Adjusted Diluted Earnings per Share	$0.32	$0.11	($0.55)	($2.69)	($0.28)	($1.10)	$0.07	$0.00	($0.59)	$0.59	$2.46
Adjusted Weighted Average Diluted Shares Outstanding	8.91M	8.94M	8.79M	8.73M	9.00M	9.15M	9.25M	0.00	9.39M	9.54M	9.61M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	($2.69)	($0.28)	($1.10)	$0.07	$0.00	($0.59)	$0.59	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	8.72M	8.73M	8.73M	8.84M	8.92M	9.07M	9.22M	0.00	9.39M	9.43M	0.00
Normalized Net Operating Profit after Tax (NOPAT)	2.29	1.66	-5.27	-8.68	-1.97	-7.65	-0.67	-5.63	-3.27	3.51	8.21
Normalized NOPAT Margin	2.99%	3.00%	-10.46%	-22.02%	-3.98%	-18.42%	-1.24%	-11.65%	-8.02%	6.36%	11.76%
Pre Tax Income Margin	5.92%	5.91%	-13.98%	-28.61%	-5.00%	-28.35%	0.88%	-17.94%	-13.31%	9.89%	17.40%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	26.14	22.25	-49.59	-157.77	-32.33	-112.06	1.14	-103.74	-29.90	45.98	112.78
NOPAT to Interest Expense	16.47	12.68	-35.12	-109.83	-23.76	-71.45	-10.78	-73.07	-20.96	47.14	220.02
EBIT Less CapEx to Interest Expense	-3.77	-2.66	-84.47	-175.72	-65.66	-125.92	-8.61	-127.90	-35.79	32.29	95.39
NOPAT Less CapEx to Interest Expense	-13.43	-12.23	-70.00	-127.78	-57.10	-85.31	-20.53	-97.23	-26.85	33.45	202.64
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-170.04%	0.00%	40.39%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-170.04%	0.00%	41.98%

This table displays calculated financial ratios and metrics derived from Frequency Electronics' official financial filings.

Metric	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026	Q3 2026
Period end date	7/31/2023	10/31/2023	1/31/2024	4/30/2024	7/31/2024	10/31/2024	1/31/2025	4/30/2025	7/31/2025	10/31/2025	1/31/2026
DEI Shares Outstanding	9,390,045.00	9,390,046.00	9,415,417.00	-	-	-	-	9,487,342.00	9,487,342.00	9,487,342.00	9,487,342.00
DEI Adjusted Shares Outstanding	9,390,045.00	9,390,046.00	9,415,417.00	-	-	-	-	9,487,342.00	9,487,342.00	9,487,342.00	9,487,342.00
DEI Earnings Per Adjusted Shares Outstanding	0.22	0.08	0.01	-	-	-	-	0.34	0.07	0.19	0.17
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Net Operating Profit after Tax (NOPAT)	2.05	0.93	-0.45	2.64	2.24	2.49	15	3.27	0.41	1.74	1.38
Return On Investment Capital (ROIC_SIMPLE)	-	2.25%	-1.23%	-	-	6.87%	28.79%	5.88%	0.74%	2.98%	2.29%
Earnings before Interest and Taxes (EBIT)	2.06	0.94	-0.47	2.49	2.37	2.62	3.47	3.28	0.36	1.64	1.27
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	2.06	0.94	-0.47	2.49	2.37	2.62	3.47	3.28	0.36	1.64	1.27
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-3.36	-11	-5.94	1.99	7.30	8.67	-6.39	-26	-25	-27	-12
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	32	33	25	21	27	26	46	51	52	55	60
Increase / (Decrease) in Invested Capital	5.41	11	5.49	0.66	-5.06	-6.18	21	29	25	29	14
Book Value per Share	$3.75	$3.86	$3.90	$4.20	$3.50	$3.78	$5.38	$5.79	$5.79	$5.99	$6.15
Tangible Book Value per Share	$3.68	$3.80	$3.83	$4.13	$3.43	$3.71	$5.32	$5.72	$5.73	$5.93	$6.09
Total Capital	41	41	37	40	33	36	52	56	56	58	60
Total Debt	5.52	5.13	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Long-Term Debt	5.52	5.13	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt	-3.54	-3.58	-12	-18	-16	-9.70	-5.52	-4.72	-4.51	-2.99	-0.09
Capital Expenditures (CapEx)	0.19	0.17	0.31	0.82	0.33	0.52	0.33	0.63	0.78	0.61	0.87
Debt-free, Cash-free Net Working Capital (DFCFNWC)	14	16	12	9.01	4.33	14	22	25	25	28	32
Debt-free Net Working Capital (DFNWC)	23	25	24	27	21	23	27	30	30	31	32
Net Working Capital (NWC)	23	25	24	27	21	23	27	30	30	31	32
Net Nonoperating Expense (NNE)	0.01	0.13	-0.58	0.02	-0.19	-0.17	-0.48	0.07	-0.22	-0.06	-0.18
Net Nonoperating Obligations (NNO)	-3.54	-3.58	-12	-18	-6.63	-9.70	-5.52	-4.72	-4.51	-2.99	-0.09
Total Depreciation and Amortization (D&A)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.22	$0.08	$0.01	$0.28	$0.25	$0.28	$1.60	$0.33	$0.07	$0.18	$0.16
Adjusted Weighted Average Basic Shares Outstanding	9.39M	9.42M	9.49M	9.54M	9.54M	9.59M	9.63M	9.61M	9.72M	9.76M	9.80M
Adjusted Diluted Earnings per Share	$0.22	$0.08	$0.01	$0.28	$0.25	$0.28	$1.60	$0.33	$0.07	$0.18	$0.16
Adjusted Weighted Average Diluted Shares Outstanding	9.39M	9.42M	9.49M	9.54M	9.54M	9.59M	9.63M	9.61M	9.72M	9.76M	9.80M
Adjusted Basic & Diluted Earnings per Share	$0.22	$0.08	$0.01	$0.28	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	9.39M	9.42M	9.44M	9.43M	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Normalized Net Operating Profit after Tax (NOPAT)	2.05	0.93	-0.45	1.75	2.24	2.49	2.43	3.27	0.25	1.20	0.89
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-

Financials Breakdown Chart

Key Financial Trends

Frequency Electronics (NASDAQ: FEIM) shows a mixed but improving operating profile over the past four years, with stronger revenue and profit in the most recent quarters, but still inconsistent cash generation and a relatively thin cash balance at quarter-end.

On the income statement, FEIM’s top line has generally grown year over year in the latest fiscal 2026 quarters. Revenue rose from $15.1 million in Q1 2025 to $17.1 million in Q2 2026 and $16.9 million in Q3 2026. More importantly, operating income improved materially versus the prior-year period, with Q3 2026 operating income at $1.27 million compared with only $0.36 million in Q1 2026 and a loss of $0.47 million in Q3 2025.

Margins have also been better in the current year than in late 2025. Q3 2026 gross profit was $6.63 million, or about 39% of revenue, versus roughly 35% in Q3 2025. Operating expenses remain a major factor, but the company has shown some ability to keep them under control relative to sales. That said, the quarter-to-quarter picture is uneven, and profitability has not been consistently smooth.

Cash flow is the biggest concern. FEIM generated positive operating cash flow in Q1 2026 ($1.16 million), but then swung back to negative operating cash flow in Q2 2026 (-$523 thousand) and Q3 2026 (-$1.42 million). This suggests earnings are not yet translating into reliable cash production. Over the broader history provided, cash from operations has been volatile, including several quarters of negative cash generation even when reported net income was positive.

The balance sheet is workable, but liquidity is not especially strong. As of Q3 2026, FEIM had just $86 thousand in cash and equivalents, down sharply from $2.99 million in Q2 2026 and $4.51 million in Q1 2026. Current assets were still substantial at $52.6 million, helped by receivables and especially inventory, but current liabilities were also elevated at $20.2 million. The company’s current ratio remains acceptable, but the very low cash position means it is relying on collections and working-capital management.

Equity remains positive at $60.2 million in Q3 2026, and total assets of $94.2 million still exceed liabilities of $33.9 million. However, retained earnings have been volatile and, in earlier quarters, were even negative, which reflects the company’s uneven historical profitability. FEIM also continues to repurchase shares, though the amounts are modest.

Revenue growth improved versus the prior-year periods, with Q3 2026 revenue up meaningfully from Q3 2025.
Operating income recovered in the latest quarter, showing better operating leverage than in some earlier quarters.
Gross margin improved year over year in Q3 2026.
Equity remains solidly positive, with assets still exceeding liabilities by a wide margin.
R&D spending continues, suggesting the company is still investing in product development and future growth.
Inventory remains high, which supports production and backlog execution but can also tie up cash.
Deferred revenue is significant, which may indicate customer demand and future revenue recognition, but also creates a liability.
Share count has been relatively stable, with only modest repurchases affecting dilution.
Operating cash flow turned negative in Q2 and Q3 2026 after a positive Q1, signaling weak cash conversion.
Cash on hand fell to extremely low levels by Q3 2026, increasing near-term liquidity risk.

Bottom line: FEIM appears to be improving on the earnings side, but investors should watch cash flow and liquidity closely. If the company can sustain higher revenue and convert those profits into cash, the story could improve further. For now, the trend is constructive but not yet fully convincing because of the weak cash position and inconsistent operating cash generation.

05/27/26 10:44 PM ETAI Generated. May Contain Errors.

Frequency Electronics Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Frequency Electronics' financial year ends in April. Their financial year 2025 ended on April 30, 2025.

Frequency Electronics' net income appears to be on a downward trend, with a most recent value of $23.69 million in 2025, rising from $2.83 million in 2015. The previous period was $5.59 million in 2024. Find out what analysts predict for Frequency Electronics in the coming months.

Frequency Electronics' total operating income in 2025 was $11.73 million, based on the following breakdown:

Total Gross Profit: $30.10 million
Total Operating Expenses: $18.37 million

Over the last 10 years, Frequency Electronics' total revenue changed from $76.56 million in 2015 to $69.81 million in 2025, a change of -8.8%.

Frequency Electronics' total liabilities were at $38.12 million at the end of 2025, a 12.2% decrease from 2024, and a 46.5% increase since 2015.

In the past 10 years, Frequency Electronics' cash and equivalents has ranged from $2.16 million in 2017 to $18.32 million in 2024, and is currently $4.72 million as of their latest financial filing in 2025.

Over the last 10 years, Frequency Electronics' book value per share changed from 10.66 in 2015 to 5.79 in 2025, a change of -45.7%.

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Financial statements for NASDAQ:FEIM last updated on 5/27/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Frequency Electronics (FEIM) Financials

Financials Breakdown Chart

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Frequency Electronics Financials - Frequently Asked Questions

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Frequency Electronics (FEIM) Financials

Annual Income Statements for Frequency Electronics

Quarterly Income Statements for Frequency Electronics

Annual Cash Flow Statements for Frequency Electronics

Quarterly Cash Flow Statements for Frequency Electronics

Annual Balance Sheets for Frequency Electronics

Quarterly Balance Sheets for Frequency Electronics

Annual Metrics And Ratios for Frequency Electronics

Quarterly Metrics And Ratios for Frequency Electronics

Financials Breakdown Chart

Key Financial Trends

Frequency Electronics Financials - Frequently Asked Questions

When does Frequency Electronics' fiscal year end?

How has Frequency Electronics' net income changed over the last 10 years?

What is Frequency Electronics' operating income?

How has Frequency Electronics' revenue changed over the last 10 years?

How much debt does Frequency Electronics have?

How much cash does Frequency Electronics have?

How has Frequency Electronics' book value per share changed over the last 10 years?

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