Richardson Electrs Ltd Financials

RELL

Source SEC Filings (10-K/10-Q) Updated Feb 28, 2026 Currency USD FYE May

This page shows Richardson Electrs Ltd (RELL) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 16 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).

Rhea AI RELL FY2025 2026-04-22

Stable gross margins could not absorb a rising overhead base, leaving working-capital release to carry cash generation.

Gross margin stayed near 31%, yet operating margin fell from 9.5% to negative, which points to weaker fixed-cost absorption rather than a collapse in product-level economics. FY2025’s -$1.1M net loss still produced $10.6M of operating cash flow because inventory came down, so cash improvement came from working capital more than from earnings.

The balance sheet remains conservative: debt to equity was only 0.3x and current assets were 4.5x current liabilities, so the company is carrying a large inventory buffer mostly on its own balance sheet rather than leaning on lenders. That liquidity matters because this model stays inventory-dependent, making cash outcomes highly sensitive to how fast stock converts into sales.

This is a working-capital-heavy model: when inventory builds, accounting profit can outrun cash, and when inventory unwinds, cash can look better than earnings. Free cash flow stayed positive in FY2025 because capex was modest at $2.8M against operating cash flow of $10.6M, so the cash story was shaped more by balance-sheet movement than by heavy reinvestment.

Financial Health Signals

Financial Profile 45/100

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 Richardson Electrs Ltd'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.

Profitability

Richardson Electrs Ltd has an operating margin of -1.2%, meaning the company retains $-1 of operating profit per $100 of revenue. This below-average margin results in a low score of 25/100, suggesting thin profitability after operating expenses. This is down from 0.2% the prior year.

Growth

Richardson Electrs Ltd's revenue grew 6.3% year-over-year to $208.9M, a solid pace of expansion. This earns a growth score of 15/100.

Leverage

Richardson Electrs Ltd carries a low D/E ratio of 0.25, meaning only $0.25 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 97/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

With a current ratio of 4.51, Richardson Electrs Ltd holds $4.51 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 90/100.

Cash Flow

Richardson Electrs Ltd's free cash flow margin of 3.7% results in a low score of 28/100. Capital expenditures of $2.8M absorb a large share of operating cash flow.

Returns

Richardson Electrs Ltd generates a -0.7% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 17/100. This is down from 0.0% the prior year.

Piotroski F-Score Neutral

4/9

Richardson Electrs Ltd passes 4 of 9 financial strength tests. 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.

Earnings Quality Mixed

-9.23x

For every $1 of reported earnings, Richardson Electrs Ltd generates $-9.23 in operating cash flow ($10.6M OCF vs -$1.1M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Key Financial Metrics

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Earnings & Revenue

Revenue

$208.9M

YoY+6.3%

5Y CAGR+6.0%

10Y CAGR+4.3%

Richardson Electrs Ltd generated $208.9M in revenue in fiscal year 2025. This represents an increase of 6.3% from the prior year.

EBITDA

$1.5M

YoY-66.9%

5Y CAGR-2.3%

Richardson Electrs Ltd's EBITDA was $1.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 66.9% from the prior year.

Net Income

-$1.1M

YoY-1973.8%

Richardson Electrs Ltd reported -$1.1M in net income in fiscal year 2025. This represents a decrease of 1973.8% from the prior year.

EPS (Diluted)

N/A

Cash & Balance Sheet

Free Cash Flow

$7.7M

YoY+211.8%

5Y CAGR+121.0%

Richardson Electrs Ltd generated $7.7M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 211.8% from the prior year.

Cash & Debt

$35.9M

YoY+48.0%

5Y CAGR+3.3%

10Y CAGR-7.0%

Richardson Electrs Ltd held $35.9M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

N/A

Margins & Returns

Gross Margin

31.0%

YoY+0.5pp

5Y CAGR-0.8pp

10Y CAGR+1.0pp

Richardson Electrs Ltd's gross margin was 31.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 0.5 percentage points from the prior year.

Operating Margin

-1.2%

YoY-1.4pp

5Y CAGR-0.1pp

10Y CAGR+4.7pp

Richardson Electrs Ltd's operating margin was -1.2% in fiscal year 2025, reflecting core business profitability. This is down 1.4 percentage points from the prior year.

Net Margin

-0.5%

YoY-0.6pp

5Y CAGR+0.6pp

10Y CAGR+3.5pp

Richardson Electrs Ltd's net profit margin was -0.5% in fiscal year 2025, showing the share of revenue converted to profit. This is down 0.6 percentage points from the prior year.

Return on Equity

-0.7%

YoY-0.8pp

5Y CAGR+0.8pp

10Y CAGR+2.8pp

Richardson Electrs Ltd's ROE was -0.7% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 0.8 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

$2.8M

YoY-30.4%

5Y CAGR+9.6%

10Y CAGR-5.1%

Richardson Electrs Ltd invested $2.8M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 30.4% from the prior year.

RELL Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$208.9M+6.3%	$196.5M-25.2%	$262.7M+16.9%	$224.6M+26.9%	$176.9M+13.5%	$155.9M
Cost of Revenue	$144.1M+5.6%	$136.5M-23.7%	$179.0M+17.0%	$152.9M+29.5%	$118.1M+11.2%	$106.2M
Gross Profit	$64.8M+8.1%	$60.0M-28.3%	$83.7M+16.7%	$71.7M+21.9%	$58.8M+18.4%	$49.7M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$62.2M+4.4%	$59.5M+1.4%	$58.7M+5.4%	$55.7M-0.4%	$55.9M+9.0%	$51.3M
Operating Income	-$2.5M-807.8%	$348K-98.6%	$25.0M+56.6%	$16.0M+452.7%	$2.9M+274.2%	-$1.7M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	-$388K-504.2%	$96K-96.4%	$2.7M+224.4%	-$2.2M-432.0%	$653K+4.6%	$624K
Net Income	-$1.1M-1973.8%	$61K-99.7%	$22.3M+24.6%	$17.9M+983.2%	$1.7M+190.0%	-$1.8M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'26	Q2'26	Q1'26	Q4'25	Q2'25	Q1'25	Q4'24	Q3'24
Revenue	$55.5M+6.1%	$52.3M-4.2%	$54.6M+1.5%	$53.8M+8.7%	$49.5M+4.5%	$47.4M-9.5%	$52.4M+18.7%	$44.1M
Cost of Revenue	$37.8M+4.4%	$36.2M-3.9%	$37.7M+1.5%	$37.1M+8.7%	$34.2M	N/A	$36.9M+16.9%	$31.6M
Gross Profit	$17.7M+10.0%	$16.1M-5.0%	$16.9M+1.5%	$16.7M+8.8%	$15.3M+4.1%	$14.7M-4.6%	$15.4M+23.1%	$12.5M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$16.2M+1.5%	$15.9M-0.1%	$16.0M+10.1%	$14.5M-9.3%	$16.0M	N/A	$14.4M-0.4%	$14.5M
Operating Income	$1.5M+1034.1%	$132K-86.4%	$968K+135.3%	-$2.7M-311.2%	-$667K	N/A	$1.0M+149.9%	-$2.0M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$302K+502.7%	-$75K-117.8%	$421K+140.8%	-$1.0M-239.1%	-$304K	N/A	$229K+146.4%	-$494K
Net Income	$893K+838.0%	-$121K-106.3%	$1.9M+192.8%	-$2.1M-173.9%	-$751K-531.1%	-$119K-115.9%	$750K+141.7%	-$1.8M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

RELL Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$195.8M+1.8%	$192.4M-2.8%	$198.0M+10.1%	$179.8M+14.7%	$156.8M+4.0%	$150.7M
Current Assets	$165.9M+2.6%	$161.7M-3.8%	$168.1M+9.7%	$153.2M+14.1%	$134.3M+6.0%	$126.7M
Cash & Equivalents	$35.9M+48.0%	$24.3M-2.9%	$25.0M-29.6%	$35.5M-18.1%	$43.3M+41.9%	$30.5M
Inventory	$102.8M-6.7%	$110.1M-0.2%	$110.4M+37.3%	$80.4M+26.6%	$63.5M+10.5%	$57.5M
Accounts Receivable	$24.1M-2.9%	$24.8M-17.5%	$30.1M+0.7%	$29.9M+19.1%	$25.1M+24.3%	$20.2M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$39.2M+13.6%	$34.5M-10.9%	$38.7M-11.9%	$44.0M+24.9%	$35.2M+9.8%	$32.1M
Current Liabilities	$36.8M+14.8%	$32.0M-12.5%	$36.6M-11.2%	$41.2M+27.9%	$32.2M+10.4%	$29.2M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$156.7M-0.8%	$158.0M-0.9%	$159.3M+17.3%	$135.8M+11.8%	$121.6M+2.4%	$118.7M
Retained Earnings	$79.3M-5.2%	$83.7M-3.8%	$87.0M+27.9%	$68.0M+27.6%	$53.3M-2.7%	$54.8M

Metric	Q3'26	Q2'26	Q1'26	Q4'25	Q2'25	Q1'25	Q4'24	Q3'24
Total Assets	$199.8M-1.0%	$201.8M+0.8%	$200.1M+5.4%	$189.8M-2.8%	$195.2M+1.4%	$192.4M-0.6%	$193.6M-1.5%	$196.5M
Current Assets	$170.0M-0.9%	$171.5M+0.7%	$170.3M+4.1%	$163.5M-1.2%	$165.5M+2.4%	$161.7M-1.1%	$163.4M-1.9%	$166.6M
Cash & Equivalents	$29.5M-11.0%	$33.1M-7.1%	$35.7M-2.8%	$36.7M+37.7%	$26.6M+9.8%	$24.3M+28.5%	$18.9M-17.1%	$22.8M
Inventory	$107.6M+2.3%	$105.2M+0.5%	$104.6M+6.4%	$98.4M-11.1%	$110.7M+0.5%	$110.1M-2.2%	$112.6M-3.7%	$117.0M
Accounts Receivable	$27.0M-1.3%	$27.4M+1.3%	$27.0M+8.5%	$24.9M-3.2%	$25.8M+3.7%	$24.8M-14.7%	$29.1M+21.8%	$23.9M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$39.6M-8.4%	$43.3M+6.4%	$40.7M+10.3%	$36.9M-5.4%	$39.0M+13.2%	$34.5M-1.4%	$35.0M-7.6%	$37.8M
Current Liabilities	$37.8M-8.7%	$41.4M+7.1%	$38.7M+11.4%	$34.7M-5.3%	$36.7M+14.5%	$32.0M-0.8%	$32.3M-10.2%	$36.0M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$160.2M+1.1%	$158.5M-0.6%	$159.4M+4.2%	$152.9M-2.1%	$156.2M-1.1%	$158.0M-0.4%	$158.6M0.0%	$158.6M
Retained Earnings	$79.4M0.0%	$79.4M-1.2%	$80.4M+1.6%	$79.1M-3.5%	$82.0M-2.0%	$83.7M-1.1%	$84.7M-0.1%	$84.8M

RELL Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$10.6M+61.7%	$6.5M+179.6%	-$8.2M-529.0%	$1.9M+129.7%	$832K-56.7%	$1.9M
Capital Expenditures	$2.8M-30.4%	$4.0M-45.2%	$7.4M+136.5%	$3.1M+18.5%	$2.6M+48.2%	$1.8M
Free Cash Flow	$7.7M+211.8%	$2.5M+115.9%	-$15.6M-1188.4%	-$1.2M+32.8%	-$1.8M-1324.5%	$147K
Investing Cash Flow	$4.0M+199.6%	-$4.0M-85.0%	-$2.2M+73.1%	-$8.1M-160.7%	$13.4M+236.7%	-$9.8M
Financing Cash Flow	-$3.2M-11.7%	-$2.9M-846.8%	$389K+210.5%	-$352K+88.3%	-$3.0M+6.0%	-$3.2M
Dividends Paid	$3.4M+0.9%	$3.4M+1.7%	$3.3M+4.0%	$3.2M+2.3%	$3.1M+0.7%	$3.1M
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'26	Q2'26	Q1'26	Q4'25	Q2'25	Q1'25	Q4'24	Q3'24
Operating Cash Flow	-$2.6M-2576.8%	-$99K-107.2%	$1.4M-70.3%	$4.6M-15.8%	$5.5M-24.5%	$7.2M+386.1%	-$2.5M-416.4%	$800K
Capital Expenditures	$759K-52.7%	$1.6M+56.7%	$1.0M+86.7%	$549K+6.2%	$517K-47.5%	$984K+145.4%	$401K-73.5%	$1.5M
Free Cash Flow	-$3.4M-99.9%	-$1.7M-598.5%	$342K-91.6%	$4.1M-18.1%	$4.9M-20.9%	$6.3M+313.4%	-$2.9M-310.1%	-$715K
Investing Cash Flow	-$759K+52.7%	-$1.6M-56.7%	-$1.0M-115.9%	$6.4M+1344.9%	-$517K+47.5%	-$984K-145.4%	-$401K+73.5%	-$1.5M
Financing Cash Flow	-$620K+12.2%	-$706K+21.1%	-$895K-5.0%	-$852K-24.0%	-$687K-15.3%	-$596K+29.4%	-$844K-1.7%	-$830K
Dividends Paid	$859K0.0%	$859K+0.2%	$857K+0.6%	$852K-0.1%	$853K+1.1%	$844K0.0%	$844K-0.1%	$845K
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

RELL Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	31.0%+0.5pp	30.5%-1.3pp	31.9%-0.1pp	31.9%-1.3pp	33.3%+1.4pp	31.9%
Operating Margin	-1.2%-1.4pp	0.2%-9.3pp	9.5%+2.4pp	7.1%+5.5pp	1.6%+2.7pp	-1.1%
Net Margin	-0.5%-0.6pp	0.0%-8.5pp	8.5%+0.5pp	8.0%+7.0pp	0.9%+2.1pp	-1.2%
Return on Equity	-0.7%-0.8pp	0.0%-14.0pp	14.0%+0.8pp	13.2%+11.8pp	1.4%+2.9pp	-1.6%
Return on Assets	-0.6%-0.6pp	0.0%-11.3pp	11.3%+1.3pp	10.0%+8.9pp	1.1%+2.3pp	-1.2%
Current Ratio	4.51-0.5	5.05+0.5	4.59+0.9	3.72-0.4	4.17-0.2	4.34
Debt-to-Equity	0.25+0.0	0.22-0.0	0.24-0.1	0.32+0.0	0.29+0.0	0.27
FCF Margin	3.7%+2.5pp	1.3%+7.2pp	-5.9%-5.4pp	-0.5%+0.5pp	-1.0%-1.1pp	0.1%

Metric	Q3'26	Q2'26	Q1'26	Q4'25	Q2'25	Q1'25	Q4'24	Q3'24
Gross Margin	31.9%+1.1pp	30.8%-0.3pp	31.0%0.0pp	31.0%+0.0pp	31.0%-0.1pp	31.1%+1.6pp	29.5%+1.1pp	28.4%
Operating Margin	2.7%+2.5pp	0.3%-1.5pp	1.8%+6.9pp	-5.1%-3.8pp	-1.4%	N/A	1.9%+6.5pp	-4.6%
Net Margin	1.6%+1.8pp	-0.2%-3.7pp	3.5%+7.3pp	-3.8%-2.3pp	-1.5%-1.3pp	-0.3%-1.7pp	1.4%+5.5pp	-4.1%
Return on Equity	0.6%+0.6pp	-0.1%-1.3pp	1.2%+2.6pp	-1.4%-0.9pp	-0.5%-0.4pp	-0.1%-0.6pp	0.5%+1.6pp	-1.1%
Return on Assets	0.4%+0.5pp	-0.1%-1.0pp	0.9%+2.0pp	-1.1%-0.7pp	-0.4%-0.3pp	-0.1%-0.4pp	0.4%+1.3pp	-0.9%
Current Ratio	4.49+0.4	4.14-0.3	4.40-0.3	4.71+0.2	4.51-0.5	5.05-0.0	5.06+0.4	4.63
Debt-to-Equity	0.25-0.0	0.27+0.0	0.26+0.0	0.240.0	0.25+0.0	0.220.0	0.22-0.0	0.24
FCF Margin	-6.2%-2.9pp	-3.3%-3.9pp	0.6%-6.9pp	7.5%-2.5pp	10.0%-3.2pp	13.2%+18.8pp	-5.6%-4.0pp	-1.6%

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Frequently Asked Questions

What is Richardson Electrs Ltd's annual revenue?

Richardson Electrs Ltd (RELL) reported $208.9M in total revenue for fiscal year 2025. This represents a 6.3% 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 Richardson Electrs Ltd's revenue growing?

Richardson Electrs Ltd (RELL) revenue grew by 6.3% year-over-year, from $196.5M to $208.9M in fiscal year 2025.

Is Richardson Electrs Ltd profitable?

No, Richardson Electrs Ltd (RELL) reported a net income of -$1.1M in fiscal year 2025, with a net profit margin of -0.5%.

What is Richardson Electrs Ltd's EBITDA?

Richardson Electrs Ltd (RELL) had EBITDA of $1.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is Richardson Electrs Ltd's gross margin?

Richardson Electrs Ltd (RELL) had a gross margin of 31.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Richardson Electrs Ltd's operating margin?

Richardson Electrs Ltd (RELL) had an operating margin of -1.2% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Richardson Electrs Ltd's net profit margin?

Richardson Electrs Ltd (RELL) had a net profit margin of -0.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Richardson Electrs Ltd's return on equity (ROE)?

Richardson Electrs Ltd (RELL) has a return on equity of -0.7% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Richardson Electrs Ltd's free cash flow?

Richardson Electrs Ltd (RELL) generated $7.7M in free cash flow during fiscal year 2025. This represents a 211.8% 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 Richardson Electrs Ltd's operating cash flow?

Richardson Electrs Ltd (RELL) generated $10.6M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Richardson Electrs Ltd's total assets?

Richardson Electrs Ltd (RELL) had $195.8M in total assets as of fiscal year 2025, including both current and long-term assets.

What are Richardson Electrs Ltd's capital expenditures?

Richardson Electrs Ltd (RELL) invested $2.8M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

What is Richardson Electrs Ltd's current ratio?

Richardson Electrs Ltd (RELL) had a current ratio of 4.51 as of fiscal year 2025, which is generally considered healthy.

What is Richardson Electrs Ltd's debt-to-equity ratio?

Richardson Electrs Ltd (RELL) had a debt-to-equity ratio of 0.25 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Richardson Electrs Ltd's return on assets (ROA)?

Richardson Electrs Ltd (RELL) had a return on assets of -0.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Richardson Electrs Ltd's Piotroski F-Score?

Richardson Electrs Ltd (RELL) has a Piotroski F-Score of 4 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 Richardson Electrs Ltd's earnings high quality?

Richardson Electrs Ltd (RELL) has an earnings quality ratio of -9.23x, considered mixed quality. 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.

How financially healthy is Richardson Electrs Ltd?

Richardson Electrs Ltd (RELL) scores 45 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.