FREQUENCY ELECTRONICS INC FEIM
Electronics, Inc. (sometimes referred to as "Registrant", "Frequency Electronics" or the "Company")
is a world leader in precision time and frequency generation technology, which is incorporated into commercial and U.S. Government satellites,
Command, Control, Communication, Computer, Intelligence, Surveillance and Reconnaissance ("C4ISR"), and Electronic Warfare
("EW") systems. Its technology is used for a wide range of space and non-space applications.
Last close
60.67
2026-09-04
Market cap
$598.8M
2026-04-30 share count
52-week range
26.05 - 80.60
Valuation FY2025 figures against the last close
P/S9.5x
P/E—
P/FCF—
EV/EBITDA—
Dividend yield0.0%
Diluted EPS-0.09
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $63.2M | $69.8M | $89.0K | $196.0K | $48.3M | $54.3M | $41.5M | $49.5M | $39.4M | $50.4M |
| Cost of revenue | $44.8M | $39.7M | $36.7M | $32.9M | $39.7M | $37.3M | $35.8M | $33.7M | $34.2M | $39.1M |
| Gross profit | $18.4M | $30.1M | $18.6M | $7.8M | $8.6M | $16.9M | $5.7M | $15.8M | $5.2M | $11.2M |
| R&D | $6.0M | $6.1M | $3.4M | $3.1M | $5.0M | $4.7M | $5.1M | $6.5M | $7.0M | $6.9M |
| SG&A | $15.4M | $12.3M | $10.2M | $9.4M | $11.7M | $13.2M | $11.6M | $12.1M | $10.6M | $11.9M |
| Operating income | -$3.0M | $11.7M | $5.0M | -$4.7M | -$8.0M | -$958.0K | -$10.9M | -$2.8M | -$12.4M | -$7.5M |
| Interest expense | $87.0K | $104.0K | $109.0K | $156.0K | $77.0K | $127.0K | $107.0K | $83.0K | $79.0K | $150.0K |
| Pre-tax income | -$2.9M | $12.1M | $5.5M | -$5.4M | -$8.7M | $476.0K | -$11.8M | -$2.5M | -$11.3M | -$7.0M |
| Income tax | $2.0M | $11.5M | $130.0K | $74.0K | $1.0K | $204.0K | $1.7M | $56.0K | $11.2M | $2.1M |
| Net income | -$903 | $23.7M | $5.6K | -$5.5M | -$8.7M | $680.0K | -$10.0M | -$2.5M | -$23.8M | -$4.8M |
| EPS, basic | -0.09 | 2.46 | 0.59 | — | — | — | — | — | — | -0.55 |
| EPS, diluted | -0.09 | 2.46 | 0.59 | — | — | 0.07 | -1.10 | -0.28 | -2.69 | -0.55 |
| Shares, diluted (wtd. avg.) | $9.8M | $9.6M | $9.4M | $9.3M | $9.3M | $9.2M | $9.3M | $9.2M | $8.8M | $8.8M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $1.6M | $4.7M | $19.3M | $12.0M | $11.6M | $9.8M | $3.8M | $3.7M | $7.9M | $2.2M |
| Short-term investments | — | — | — | $0 | $10.0M | $10.3M | $10.6M | $8.2M | $6.1M | $7.8M |
| Receivables | $4.7M | $5.9M | $4.6M | $4.6M | $4.3M | $5.5M | $4.4M | $6.4M | $4.3M | $11.0M |
| Inventory | $22.6M | $23.5M | $23.4M | $20.5M | $19.9M | $19.7M | $23.0M | $23.4M | $26.2M | $29.1M |
| Total current assets | $48.0M | $53.1M | $58.1M | $48.3M | $56.0M | $61.2M | $51.2M | $52.7M | $52.1M | $69.9M |
| Property, plant and equipment | $7.1M | $6.2M | $6.4M | $7.1M | $8.6M | $9.6M | $11.3M | $13.0M | $14.1M | $14.8M |
| Goodwill | $218.0K | $617.0K | $617.0K | $617.0K | — | — | — | — | — | — |
| Total assets | $90.7M | $93.7M | $83.3M | $74.5M | $84.8M | $98.5M | $91.3M | $86.8M | $83.6M | $113.3M |
| Short-term debt | — | — | — | — | — | — | $5.0M | $0 | — | — |
| Total current liabilities | $21.0M | $23.5M | $30.8M | $27.3M | $21.9M | $20.6M | $13.7M | $5.8M | $5.3M | $8.1M |
| Total liabilities | $34.3M | $38.1M | $43.4M | $41.6M | $38.1M | $43.1M | $37.0M | $23.7M | $20.3M | $24.0M |
| Retained earnings | $2.8M | $3.7M | -$20.0M | -$25.6M | -$20.1M | -$11.5M | -$12.1M | -$2.1M | -$65.0K | $23.7M |
| Total equity | $56.4M | $55.6M | $39.8M | $32.9M | $46.7M | $55.4M | $54.2M | $63.1M | $63.3M | $89.3M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $1.3M | -$1.4M | $8.7M | $1.2M | $4.0M | $12.2M | -$1.4M | -$97.0K | $4.5M | $3.9M |
| Depreciation and amortisation | $1.9M | $2.1M | $2.1M | $2.4M | $3.0M | $3.3M | $3.3M | $2.8M | $2.5M | $2.6M |
| Stock-based compensation | $2.0M | $1.2M | $822.0K | $197.0K | $247.0K | $273.0K | $312.0K | $500.0K | $470.0K | $662.0K |
| Capital expenditure | $2.9M | $1.8M | $1.5M | $918.0K | $1.9M | $1.2M | $1.5M | $2.8M | $1.4M | $5.2M |
| Investing cash flow | -$2.9M | -$1.8M | -$1.5M | $8.7M | -$2.3M | -$1.2M | -$3.4M | -$4.7M | $341.0K | -$1.5M |
| Financing cash flow | -$1.6M | -$9.9M | $0 | -$9.4M | $0 | -$5.0M | $5.0M | $0 | $0 | -$6.7M |
| Dividends paid | $0 | $9.6M | $0 | $9.4M | $0 | — | — | — | — | — |
| Buybacks | $1.6M | $377.0K | $0 | — | — | — | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001185185-26-003746.
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