Rf Industries Financials
This page shows Rf Industries (RFIL) 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).
RF Industries’ turnaround is being driven by margin recovery and a capex-light model that converts modest profit into cash.
The key shift in FY2025 is cash earnings outrunning accounting earnings: net income was only$75K , yet operating cash flow reached$4.6M . Because gross margin rebounded from29.1% to33.2% and capex stayed light, the business now looks capable of turning a small operating recovery into meaningful cash rather than just reported profit.
The liquidity cushion is still thinner than the renewed cash flow suggests: cash rose to
FY2025 shows fixed-cost absorption, not just a bookkeeping rebound. Gross margin reached
Financial Health Signals
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Rf Industries'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.
Rf Industries scores 4.06, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($141.3M) relative to total liabilities ($34.8M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Rf Industries passes 7 of 8 computable financial strength tests (1 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Rf Industries generates $61.05 in operating cash flow ($4.6M OCF vs $75K net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Earnings & Revenue
Rf Industries generated $80.6M in revenue in fiscal year 2025. This represents an increase of 24.3% from the prior year.
Rf Industries's EBITDA was $4.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 1580.1% from the prior year.
Rf Industries reported $75K in net income in fiscal year 2025. This represents an increase of 101.1% from the prior year.
Rf Industries earned $0.01 per diluted share (EPS) in fiscal year 2025. This represents an increase of 101.6% from the prior year.
Cash & Balance Sheet
Rf Industries generated $4.3M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 79.0% from the prior year.
Rf Industries held $5.1M in cash against $0 in long-term debt as of fiscal year 2025.
Rf Industries had 11M shares outstanding in fiscal year 2025. This represents an increase of 1.6% from the prior year.
Margins & Returns
Rf Industries's gross margin was 33.2% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 4.1 percentage points from the prior year.
Rf Industries's operating margin was 2.2% in fiscal year 2025, reflecting core business profitability. This is up 6.6 percentage points from the prior year.
Rf Industries's net profit margin was 0.1% in fiscal year 2025, showing the share of revenue converted to profit. This is up 10.3 percentage points from the prior year.
Rf Industries's ROE was 0.2% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 19.5 percentage points from the prior year.
Capital Allocation
Rf Industries invested $3.0M in research and development in fiscal year 2025. This represents an increase of 7.2% from the prior year.
Rf Industries invested $235K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 68.2% from the prior year.
RFIL Income Statement
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $20.7M+9.1% | $19.0M-16.4% | $22.7M+14.6% | $19.8M+4.7% | $18.9M-1.5% | $19.2M+4.0% | $18.5M+9.6% | $16.8M |
| Cost of Revenue | $13.4M+4.5% | $12.8M-10.4% | $14.3M+9.7% | $13.1M+0.9% | $13.0M-3.9% | $13.5M+6.4% | $12.7M+6.7% | $11.9M |
| Gross Profit | $7.3M+18.7% | $6.1M-26.7% | $8.3M+24.3% | $6.7M+12.9% | $6.0M+4.1% | $5.7M-1.1% | $5.8M+16.6% | $5.0M |
| R&D Expenses | $915K+7.4% | $852K-0.7% | $858K+13.0% | $759K+11.1% | $683K+0.1% | $682K-5.7% | $723K+10.7% | $653K |
| SG&A Expenses | $5.3M+3.2% | $5.1M-22.7% | $6.6M+25.7% | $5.2M+1.5% | $5.2M+3.7% | $5.0M+0.3% | $5.0M+5.0% | $4.7M |
| Operating Income | $1.1M+520.3% | $177K-80.4% | $904K+25.7% | $719K+578.3% | $106K+89.3% | $56K-41.7% | $96K+122.9% | -$419K |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | $60K+76.5% | $34K-92.9% | $479K+444.3% | $88K-34.8% | $135K+275.0% | $36K+20.0% | $30K+157.7% | -$52K |
| Net Income | $879K+1858.0% | -$50K-128.9% | $173K-55.9% | $392K+260.0% | -$245K0.0% | -$245K-2.9% | -$238K+66.2% | -$705K |
| EPS (Diluted) | $0.08 | $0.00 | N/A | $0.04+300.0% | $-0.020.0% | $-0.02 | N/A | $-0.07 |
RFIL Balance Sheet
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $71.5M+1.7% | $70.3M-3.7% | $73.0M-0.2% | $73.2M+0.7% | $72.7M+3.2% | $70.4M-0.9% | $71.0M-1.1% | $71.9M |
| Current Assets | $35.1M+6.3% | $33.0M-5.6% | $35.0M+2.6% | $34.1M+4.2% | $32.7M+10.9% | $29.5M+1.4% | $29.1M-0.9% | $29.4M |
| Cash & Equivalents | $3.4M-33.6% | $5.1M+0.6% | $5.1M+69.3% | $3.0M-16.3% | $3.6M+181.7% | $1.3M+51.7% | $839K-52.4% | $1.8M |
| Inventory | $14.4M+4.9% | $13.8M+0.3% | $13.7M-3.1% | $14.2M+12.7% | $12.6M-6.5% | $13.5M-8.6% | $14.7M-2.2% | $15.0M |
| Accounts Receivable | $15.6M+19.0% | $13.1M-11.8% | $14.9M-3.1% | $15.3M+2.3% | $15.0M+17.2% | $12.8M+5.6% | $12.1M+13.5% | $10.7M |
| Goodwill | $8.1M0.0% | $8.1M0.0% | $8.1M0.0% | $8.1M0.0% | $8.1M0.0% | $8.1M0.0% | $8.1M0.0% | $8.1M |
| Total Liabilities | $34.7M-0.4% | $34.8M-8.1% | $37.8M-1.5% | $38.4M-0.2% | $38.5M+6.3% | $36.2M-2.0% | $37.0M-2.0% | $37.7M |
| Current Liabilities | $18.6M+1.1% | $18.4M-12.1% | $20.9M-0.6% | $21.0M+2.0% | $20.6M+15.6% | $17.8M-1.5% | $18.1M-1.6% | $18.4M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | $0 | $0 |
| Total Equity | $36.9M+3.7% | $35.5M+1.0% | $35.2M+1.2% | $34.8M+1.8% | $34.2M-0.1% | $34.2M+0.4% | $34.1M-0.2% | $34.1M |
| Retained Earnings | $7.9M+12.6% | $7.0M-0.7% | $7.0M+2.5% | $6.9M+6.0% | $6.5M-3.6% | $6.7M-3.5% | $7.0M-3.3% | $7.2M |
RFIL Cash Flow Statement
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$914K-205.4% | $867K-58.7% | $2.1M+774.6% | -$311K-114.2% | $2.2M+264.6% | $601K+346.3% | -$244K-110.3% | $2.4M |
| Capital Expenditures | $32K-85.3% | $218K+230.3% | $66K-38.9% | $108K+217.6% | $34K+25.9% | $27K-84.5% | $174K-31.0% | $252K |
| Free Cash Flow | -$946K-245.8% | $649K-68.1% | $2.0M+585.0% | -$419K-119.4% | $2.2M+275.8% | $574K+237.3% | -$418K-119.7% | $2.1M |
| Investing Cash Flow | -$32K+85.3% | -$218K-235.4% | -$65K+40.4% | -$109K-395.5% | -$22K+18.5% | -$27K+84.5% | -$174K+31.0% | -$252K |
| Financing Cash Flow | -$768K-23.9% | -$620K-1447.8% | $46K+127.7% | -$166K-215.3% | $144K+202.9% | -$140K+72.4% | -$507K+71.1% | -$1.8M |
| Dividends Paid | $0 | $0 | N/A | N/A | $0 | $0 | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
RFIL Financial Ratios
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 35.1%+2.9pp | 32.3%-4.5pp | 36.8%+2.9pp | 34.0%+2.5pp | 31.5%+1.7pp | 29.8%-1.6pp | 31.3%+1.9pp | 29.5% |
| Operating Margin | 5.3%+4.4pp | 0.9%-3.1pp | 4.0%+0.4pp | 3.6%+3.1pp | 0.6%+0.3pp | 0.3%-0.2pp | 0.5%+3.0pp | -2.5% |
| Net Margin | 4.3%+4.5pp | -0.3%-1.0pp | 0.8%-1.2pp | 2.0%+3.3pp | -1.3%-0.0pp | -1.3%0.0pp | -1.3%+2.9pp | -4.2% |
| Return on Equity | 2.4%+2.5pp | -0.1%-0.6pp | 0.5%-0.6pp | 1.1%+1.8pp | -0.7%0.0pp | -0.7%-0.0pp | -0.7%+1.4pp | -2.1% |
| Return on Assets | 1.2%+1.3pp | -0.1%-0.3pp | 0.2%-0.3pp | 0.5%+0.9pp | -0.3%+0.0pp | -0.4%-0.0pp | -0.3%+0.7pp | -1.0% |
| Current Ratio | 1.89+0.1 | 1.80+0.1 | 1.67+0.1 | 1.62+0.0 | 1.59-0.1 | 1.66+0.0 | 1.61+0.0 | 1.60 |
| Debt-to-Equity | 0.94-0.0 | 0.98-0.1 | 1.07-0.0 | 1.11-0.0 | 1.13+0.1 | 1.06+1.1 | 0.000.0 | 0.00 |
| FCF Margin | -4.6%-8.0pp | 3.4%-5.5pp | 9.0%+11.1pp | -2.1%-13.5pp | 11.4%+8.4pp | 3.0%+5.3pp | -2.3%-14.9pp | 12.6% |
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Frequently Asked Questions
What is Rf Industries's annual revenue?
Rf Industries (RFIL) reported $80.6M in total revenue for fiscal year 2025. This represents a 24.3% 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 Rf Industries's revenue growing?
Rf Industries (RFIL) revenue grew by 24.3% year-over-year, from $64.9M to $80.6M in fiscal year 2025.
Is Rf Industries profitable?
Yes, Rf Industries (RFIL) reported a net income of $75K in fiscal year 2025, with a net profit margin of 0.1%.
What is Rf Industries's EBITDA?
Rf Industries (RFIL) had EBITDA of $4.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Rf Industries's gross margin?
Rf Industries (RFIL) had a gross margin of 33.2% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Rf Industries's operating margin?
Rf Industries (RFIL) had an operating margin of 2.2% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Rf Industries's net profit margin?
Rf Industries (RFIL) had a net profit margin of 0.1% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Rf Industries's return on equity (ROE)?
Rf Industries (RFIL) has a return on equity of 0.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Rf Industries's free cash flow?
Rf Industries (RFIL) generated $4.3M in free cash flow during fiscal year 2025. This represents a 79.0% 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 Rf Industries's operating cash flow?
Rf Industries (RFIL) generated $4.6M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Rf Industries's total assets?
Rf Industries (RFIL) had $70.3M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Rf Industries's capital expenditures?
Rf Industries (RFIL) invested $235K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Rf Industries spend on research and development?
Rf Industries (RFIL) invested $3.0M in research and development during fiscal year 2025.
What is Rf Industries's current ratio?
Rf Industries (RFIL) had a current ratio of 1.80 as of fiscal year 2025, which is generally considered healthy.
What is Rf Industries's debt-to-equity ratio?
Rf Industries (RFIL) had a debt-to-equity ratio of 0.98 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Rf Industries's return on assets (ROA)?
Rf Industries (RFIL) had a return on assets of 0.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Rf Industries's Altman Z-Score?
Rf Industries (RFIL) has an Altman Z-Score of 4.06, 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 Rf Industries's Piotroski F-Score?
Rf Industries (RFIL) has a Piotroski F-Score of 7 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 Rf Industries's earnings high quality?
Rf Industries (RFIL) has an earnings quality ratio of 61.05x, considered cash-backed (high 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 Rf Industries?
Rf Industries (RFIL) scores 43 out of 100 on our Financial Health Score, indicating moderate standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.