Frequency Electr Financials
This page shows Frequency Electr (FEIM) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Frequency Electronics’ earnings rebound is being driven by margin recovery, but cash is tied up in working capital rather than arriving with profit.
In the latest year, the net income spike to$23.7M did not translate into cash, with operating cash flow at-$1.4M . Because free cash flow also slipped to-$3.2M , the earnings surge was helped by a large tax benefit and working-capital absorption rather than cash arriving from customers at the same pace.
The business looks structurally different from its trough: gross margin climbed from
Liquidity improved as current liabilities fell and the current ratio reached 2.3x, easing the balance-sheet pressure seen a year earlier. Inventory-heavy working capital still dominates near-term funding because inventory at
Financial Health Signals
Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Frequency Electr's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Frequency Electr has an operating margin of 16.8%, meaning the company retains $17 of operating profit per $100 of revenue. This results in a moderate score of 42/100, indicating healthy but not exceptional operating efficiency. This is up from 9.1% the prior year.
Frequency Electr's revenue surged 26.3% year-over-year to $69.8M, reflecting rapid business expansion. This strong growth earns a score of 85/100.
Frequency Electr carries a low D/E ratio of 0.65, meaning only $0.65 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 89/100, indicating a strong balance sheet with room for future borrowing.
Frequency Electr's current ratio of 2.30 indicates adequate short-term liquidity, earning a score of 43/100. The company can meet its near-term obligations, though with limited headroom.
While Frequency Electr generated -$1.4M in operating cash flow, capex of $1.8M consumed most of it, leaving -$3.2M in free cash flow. This results in a low score of 29/100, reflecting heavy capital investment rather than weak cash generation.
Frequency Electr's ROE of 42.1% shows moderate profitability relative to equity, earning a score of 62/100. This is up from 16.9% the prior year.
Frequency Electr scores 13.76, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($746.8M) relative to total liabilities ($36.9M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Frequency Electr passes 5 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Frequency Electr generates $-0.06 in operating cash flow (-$1.4M OCF vs $23.7M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Frequency Electr earns $112.8 in operating income for every $1 of interest expense ($11.7M vs $104K). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Earnings & Revenue
Frequency Electr generated $69.8M in revenue in fiscal year 2025. This represents an increase of 26.3% from the prior year.
Frequency Electr's EBITDA was $13.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 93.0% from the prior year.
Frequency Electr reported $23.7M in net income in fiscal year 2025. This represents an increase of 323.4% from the prior year.
Frequency Electr earned $2.46 per diluted share (EPS) in fiscal year 2025. This represents an increase of 316.9% from the prior year.
Cash & Balance Sheet
Frequency Electr generated -$3.2M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 144.8% from the prior year.
Frequency Electr held $4.5M in cash against $0 in long-term debt as of fiscal year 2025.
Frequency Electr had 10M shares outstanding in fiscal year 2025. This represents an increase of 2.0% from the prior year.
Margins & Returns
Frequency Electr's gross margin was 43.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 9.5 percentage points from the prior year.
Frequency Electr's operating margin was 16.8% in fiscal year 2025, reflecting core business profitability. This is up 7.7 percentage points from the prior year.
Frequency Electr's net profit margin was 33.9% in fiscal year 2025, showing the share of revenue converted to profit. This is up 23.8 percentage points from the prior year.
Frequency Electr's ROE was 42.1% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 25.2 percentage points from the prior year.
Capital Allocation
Frequency Electr invested $6.1M in research and development in fiscal year 2025. This represents an increase of 79.8% from the prior year.
Frequency Electr spent $377K on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding.
Frequency Electr invested $1.8M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 21.2% from the prior year.
FEIM Income Statement
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $16.9M-1.4% | $17.1M+24.0% | $13.8M-30.9% | $20.0M+5.6% | $18.9M+19.6% | $15.8M+4.9% | $15.1M-3.2% | $15.6M |
| Cost of Revenue | $10.3M-3.1% | $10.6M+21.3% | $8.7M-30.1% | $12.5M+17.4% | $10.6M+29.8% | $8.2M-2.1% | $8.4M-9.9% | $9.3M |
| Gross Profit | $6.6M+1.4% | $6.5M+28.6% | $5.1M-32.2% | $7.5M-9.5% | $8.3M+8.7% | $7.6M+13.8% | $6.7M+6.6% | $6.3M |
| R&D Expenses | $1.8M+47.0% | $1.2M+5.8% | $1.1M-26.4% | $1.5M+7.2% | $1.4M-11.0% | $1.6M+8.4% | $1.5M+38.3% | $1.1M |
| SG&A Expenses | $3.6M-0.8% | $3.6M+1.1% | $3.6M+34.0% | $2.7M-20.8% | $3.4M-0.2% | $3.4M+19.1% | $2.8M+4.9% | $2.7M |
| Operating Income | $1.3M-25.9% | $1.7M+370.9% | $364K-88.9% | $3.3M-5.4% | $3.5M+32.5% | $2.6M+10.7% | $2.4M-5.2% | $2.5M |
| Interest Expense | $21K-4.5% | $22K-4.3% | $23K-8.0% | $25K-3.8% | $26K-3.7% | $27K+3.8% | $26K+18.2% | $22K |
| Income Tax | -$127K-309.7% | -$31K+59.7% | -$77K-870.0% | $10K+100.1% | -$11.8M-8606.5% | $139K+4.5% | $133K+189.3% | -$149K |
| Net Income | $1.6M-13.0% | $1.8M+184.1% | $634K-80.2% | $3.2M-79.2% | $15.4M+480.4% | $2.7M+9.2% | $2.4M-7.4% | $2.6M |
| EPS (Diluted) | $0.16-11.1% | $0.18+157.1% | $0.07 | N/A | $1.60+471.4% | $0.28+12.0% | $0.25 | N/A |
FEIM Balance Sheet
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $94.2M+2.1% | $92.3M-1.0% | $93.2M-0.6% | $93.7M+8.5% | $86.4M+11.1% | $77.8M-7.7% | $84.3M+1.2% | $83.3M |
| Current Assets | $52.6M+3.2% | $50.9M-2.7% | $52.3M-1.4% | $53.1M+5.9% | $50.1M-5.3% | $52.9M-10.6% | $59.2M+1.9% | $58.1M |
| Cash & Equivalents | $86K-97.1% | $3.0M-33.7% | $4.5M-4.4% | $4.7M-14.4% | $5.5M-43.1% | $9.7M-40.1% | $16.2M-11.6% | $18.3M |
| Inventory | $25.8M+4.7% | $24.7M-0.4% | $24.8M+5.5% | $23.5M-7.6% | $25.4M-0.3% | $25.5M+4.8% | $24.3M+3.7% | $23.4M |
| Accounts Receivable | $10.7M+76.7% | $6.1M-18.4% | $7.4M+25.8% | $5.9M+52.7% | $3.9M-5.3% | $4.1M-31.0% | $5.9M+28.3% | $4.6M |
| Goodwill | $617K0.0% | $617K0.0% | $617K0.0% | $617K0.0% | $617K0.0% | $617K0.0% | $617K0.0% | $617K |
| Total Liabilities | $33.9M+0.4% | $33.8M-8.4% | $36.9M-3.2% | $38.1M+10.2% | $34.6M-16.8% | $41.6M-18.6% | $51.1M+17.6% | $43.4M |
| Current Liabilities | $20.2M+2.6% | $19.7M-13.4% | $22.7M-3.2% | $23.5M+2.6% | $22.9M-22.5% | $29.5M-23.7% | $38.7M+25.6% | $30.8M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $60.2M+3.1% | $58.5M+3.8% | $56.3M+1.3% | $55.6M+7.3% | $51.8M+43.2% | $36.2M+9.0% | $33.2M-16.6% | $39.8M |
| Retained Earnings | $7.7M+25.7% | $6.1M+42.0% | $4.3M+17.3% | $3.7M+692.0% | $462K+103.1% | -$14.9M+15.1% | -$17.6M+12.1% | -$20.0M |
FEIM Cash Flow Statement
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$1.4M-170.9% | -$523K-145.0% | $1.2M+849.0% | -$155K+95.7% | -$3.6M-195.1% | $3.8M+361.3% | -$1.5M-119.5% | $7.5M |
| Capital Expenditures | $865K+41.1% | $613K-21.0% | $776K+23.0% | $631K+91.8% | $329K-36.9% | $521K+59.3% | $327K-60.2% | $821K |
| Free Cash Flow | -$2.3M-100.9% | -$1.1M-395.1% | $385K+149.0% | -$786K+80.1% | -$4.0M-220.2% | $3.3M+284.3% | -$1.8M-126.8% | $6.7M |
| Investing Cash Flow | -$865K-41.1% | -$613K+21.0% | -$776K-23.0% | -$631K-91.8% | -$329K+36.9% | -$521K-59.3% | -$327K+60.2% | -$821K |
| Financing Cash Flow | -$616K-64.3% | -$375K+35.7% | -$583K | $0+100.0% | -$215K+97.8% | -$9.7M-15491.9% | -$62K | $0 |
| Dividends Paid | $0 | N/A | N/A | $0 | $0-100.0% | $9.6M | N/A | $0 |
| Share Buybacks | $616K+64.3% | $375K-35.7% | $583K | $0-100.0% | $215K+115.0% | $100K+61.3% | $62K | $0 |
FEIM Financial Ratios
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 39.2%+1.1pp | 38.2%+1.4pp | 36.8%-0.7pp | 37.5%-6.3pp | 43.8%-4.4pp | 48.2%+3.7pp | 44.4%+4.1pp | 40.3% |
| Operating Margin | 7.5%-2.5pp | 10.0%+7.4pp | 2.6%-13.8pp | 16.4%-1.9pp | 18.3%+1.8pp | 16.6%+0.9pp | 15.7%-0.3pp | 16.0% |
| Net Margin | 9.3%-1.2pp | 10.5%+5.9pp | 4.6%-11.4pp | 16.0%-65.4pp | 81.4%+64.6pp | 16.8%+0.7pp | 16.1%-0.7pp | 16.9% |
| Return on Equity | 2.6%-0.5pp | 3.1%+2.0pp | 1.1%-4.6pp | 5.8%-24.0pp | 29.7%+22.4pp | 7.3%+0.0pp | 7.3%+0.7pp | 6.6% |
| Return on Assets | 1.7%-0.3pp | 1.9%+1.3pp | 0.7%-2.7pp | 3.4%-14.4pp | 17.8%+14.4pp | 3.4%+0.5pp | 2.9%-0.3pp | 3.1% |
| Current Ratio | 2.60+0.0 | 2.59+0.3 | 2.30+0.0 | 2.26+0.1 | 2.19+0.4 | 1.79+0.3 | 1.53-0.4 | 1.89 |
| Debt-to-Equity | 0.56-0.0 | 0.58-0.1 | 0.65-0.0 | 0.69+0.0 | 0.67-0.5 | 1.15-0.4 | 1.54+0.4 | 1.09 |
| FCF Margin | -13.5%-6.9pp | -6.6%-9.4pp | 2.8%+6.7pp | -3.9%+17.0pp | -20.9%-41.7pp | 20.8%+32.6pp | -11.8%-54.6pp | 42.8% |
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Frequently Asked Questions
What is Frequency Electr's annual revenue?
Frequency Electr (FEIM) reported $69.8M in total revenue for fiscal year 2025. This represents a 26.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Frequency Electr's revenue growing?
Frequency Electr (FEIM) revenue grew by 26.3% year-over-year, from $55.3M to $69.8M in fiscal year 2025.
Is Frequency Electr profitable?
Yes, Frequency Electr (FEIM) reported a net income of $23.7M in fiscal year 2025, with a net profit margin of 33.9%.
What is Frequency Electr's EBITDA?
Frequency Electr (FEIM) had EBITDA of $13.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Frequency Electr's gross margin?
Frequency Electr (FEIM) had a gross margin of 43.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Frequency Electr's operating margin?
Frequency Electr (FEIM) had an operating margin of 16.8% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Frequency Electr's net profit margin?
Frequency Electr (FEIM) had a net profit margin of 33.9% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Frequency Electr's return on equity (ROE)?
Frequency Electr (FEIM) has a return on equity of 42.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Frequency Electr's free cash flow?
Frequency Electr (FEIM) generated -$3.2M in free cash flow during fiscal year 2025. This represents a -144.8% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Frequency Electr's operating cash flow?
Frequency Electr (FEIM) generated -$1.4M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Frequency Electr's total assets?
Frequency Electr (FEIM) had $93.2M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Frequency Electr's capital expenditures?
Frequency Electr (FEIM) invested $1.8M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Frequency Electr spend on research and development?
Frequency Electr (FEIM) invested $6.1M in research and development during fiscal year 2025.
What is Frequency Electr's current ratio?
Frequency Electr (FEIM) had a current ratio of 2.30 as of fiscal year 2025, which is generally considered healthy.
What is Frequency Electr's debt-to-equity ratio?
Frequency Electr (FEIM) had a debt-to-equity ratio of 0.65 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Frequency Electr's return on assets (ROA)?
Frequency Electr (FEIM) had a return on assets of 25.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Frequency Electr's cash runway?
Based on fiscal year 2025 data, Frequency Electr (FEIM) had $4.5M in cash against an annual operating cash burn of $1.4M. This gives an estimated cash runway of approximately 38 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Frequency Electr's Altman Z-Score?
Frequency Electr (FEIM) has an Altman Z-Score of 13.76, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Frequency Electr's Piotroski F-Score?
Frequency Electr (FEIM) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Frequency Electr's earnings high quality?
Frequency Electr (FEIM) has an earnings quality ratio of -0.06x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Frequency Electr cover its interest payments?
Frequency Electr (FEIM) has an interest coverage ratio of 112.8x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Frequency Electr?
Frequency Electr (FEIM) scores 58 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.