FEIM

MKT CAP:$513M

Frequency Electronics, Inc.

Market Cap

$513M

Technology·Communication Equipment·🇺🇸 United States·NASDAQ

Technology·Communication·🇺🇸·NASDAQ

Stock Price

$55.32+$4.77 (+9.44%)

Apr 22, 2026

Company Details

Frequency Electronics, Inc., together with its subsidiaries, designs, develops, manufactures, and sells precision time and frequency control products and components for microwave integrated circuit applications. It operates through two segm...

CEO

Thomas McClelland

IPO Date

Jun 18, 1980

Website

www.frequencyelectronics.com

Key Metrics TTM

Revenue

$68M

+3.7% YoY

Net Income

$7M

EPS (Diluted)

$0.75

Free Cash Flow

-$5M

Revenue / Share

$6.95

Gross Margin

38.0%

Operating Margin

9.8%

Net Margin

10.6%

FCF Margin

-6.9%

P/S

7.6x

P/E

71.3x

Earnings Reports

Q3 2026

Mar 17, 2026

$17M-10.8%EPS $0.16

Q2 2026

Dec 15, 2025

$17M+8.3%EPS $0.18

Q1 2026

Sep 15, 2025

$14M-8.4%EPS $0.07

FY 2025

Jul 18, 2025

$70M+26.3%EPS $2.46

Q4 2025

Jul 18, 2025

$20M+28.3%EPS $0.34

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q4 22	$10M	-$3M	-$6M
Q1 23	$8M	-$5.0K	-$3M
Q2 23	$9M	$350.0K	-$2M
Q3 23	$11M	$3M	$325.0K
Q4 23	$13M	$4M	$392.0K
Q1 24	$12M	$5M	$2M
Q2 24	$14M	$4M	$938.0K
Q3 24	$14M	$3M	-$473.0K
Q4 24	$16M	$6M	$2M
Q1 25	$15M	$7M	$2M
Q2 25	$16M	$8M	$3M
Q3 25	$19M	$8M	$3M
Q4 25	$20M	$7M	$3M
Q1 26	$14M	$5M	$364.0K
Q2 26	$17M	$7M	$2M
Q3 26	$17M	$7M	$1M

Valuation

Quarter	P/S	P/E
Q4 22	1.5x	—
Q1 23	1.4x	—
Q2 23	1.2x	—
Q3 23	1.5x	—
Q4 23	1.5x	—
Q1 24	1.4x	—
Q2 24	1.4x	25.7x
Q3 24	1.8x	30.2x
Q4 24	1.7x	16.6x
Q1 25	2.3x	22.3x
Q2 25	2.0x	15.4x
Q3 25	2.5x	7.0x
Q4 25	2.6x	7.6x
Q1 26	3.9x	12.3x
Q2 26	5.0x	16.5x
Q3 26	7.7x	72.4x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 22	$66.0K	-$260.0K
Q1 23	-$4M	-$4M
Q2 23	$3M	$3M
Q3 23	$2M	$2M
Q4 23	-$773.0K	-$805.0K
Q1 24	-$3M	-$3M
Q2 24	-$180.0K	-$353.0K
Q3 24	$4M	$4M
Q4 24	$7M	$7M
Q1 25	-$2M	-$2M
Q2 25	$4M	$4M
Q3 25	-$4M	-$4M
Q4 25	-$155.0K	-$2M
Q1 26	$1M	$385.0K
Q2 26	-$523.0K	-$1M
Q3 26	-$1M	-$2M

Capital Expenditures

Quarter	CapEx
Q4 22	$326.0K
Q1 23	$465.0K
Q2 23	$264.0K
Q3 23	$157.0K
Q4 23	$32.0K
Q1 24	$187.0K
Q2 24	$173.0K
Q3 24	$311.0K
Q4 24	$821.0K
Q1 25	$327.0K
Q2 25	$327.0K
Q3 25	$329.0K
Q4 25	$1M
Q1 26	$776.0K
Q2 26	$613.0K
Q3 26	$865.0K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 22	-35.0%	+3.5%
Q1 23	-36.7%	-22.7%
Q2 23	-30.8%	-11.1%
Q3 23	-13.3%	-20.6%
Q4 23	+28.0%	-21.6%
Q1 24	+51.2%	-8.5%
Q2 24	+51.7%	+12.5%
Q3 24	+29.1%	+37.8%
Q4 24	+19.8%	+3.7%
Q1 25	+21.5%	+22.8%
Q2 25	+16.5%	+4.5%
Q3 25	+38.0%	+9.0%
Q4 25	+28.3%	+27.7%
Q1 26	-8.4%	+5.8%
Q2 26	+8.3%	+16.7%
Q3 26	-10.8%	+1.0%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 22	$247.0K	2.4%
Q1 23	$0	0.0%
Q2 23	$0	0.0%
Q3 23	$0	0.0%
Q4 23	$197.0K	1.5%
Q1 24	$0	0.0%
Q2 24	$0	0.0%
Q3 24	$0	0.0%
Q4 24	$822.0K	5.3%
Q1 25	$0	0.0%
Q2 25	$0	0.0%
Q3 25	$0	0.0%
Q4 25	$1M	5.8%
Q1 26	$0	0.0%
Q2 26	$0	0.0%
Q3 26	$0	0.0%

OpEx Breakdown

Quarter	R&D	SG&A
Q4 22	$1M	$2M
Q1 23	$1M	$2M
Q2 23	$599.0K	$2M
Q3 23	$783.0K	$2M
Q4 23	$658.0K	$3M
Q1 24	$506.0K	$2M
Q2 24	$840.0K	$3M
Q3 24	$958.0K	$3M
Q4 24	$1M	$3M
Q1 25	$1M	$3M
Q2 25	$2M	$3M
Q3 25	$1M	$3M
Q4 25	$2M	$3M
Q1 26	$1M	$4M
Q2 26	$1M	$4M
Q3 26	$2M	$7M

Revenue Segments

Quarter	Frequency Electronics Inc New York Member	Frequency Electronics Inc Zyfer Member	Inter Segment Member
Q4 22	$10M	$486.0K	-$84.0K

Revenue by Geography

Quarter	California	New York
Q1 26	$4M	$10M

War Chest

Quarter	Cash	Short-term Investments	Total
Q4 22	$12M	$10M	$22M
Q1 23	$7M	$10M	$17M
Q2 23	$10M	$10M	$20M
Q3 23	$13M	$0	$13M
Q4 23	$12M	$0	$12M
Q1 24	$9M	$0	$9M
Q2 24	$9M	$0	$9M
Q3 24	$12M	$0	$12M
Q4 24	$18M	$0	$18M
Q1 25	$16M	$0	$16M
Q2 25	$10M	$0	$10M
Q3 25	$6M	$0	$6M
Q4 25	$5M	$0	$5M
Q1 26	$5M	$0	$5M
Q2 26	$3M	$0	$3M
Q3 26	$86.0K	$0	$86.0K

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q4 22	9M	+0.1%	-0.3%
Q1 23	9M	+0.2%	+1.3%
Q2 23	9M	+0.2%	+0.3%
Q3 23	9M	+0.2%	+0.8%
Q4 23	9M	+0.2%	+0.8%
Q1 24	9M	+0.2%	+0.8%
Q2 24	9M	+0.2%	+0.8%
Q3 24	9M	+0.4%	+1.0%
Q4 24	10M	+0.7%	+1.5%
Q1 25	10M	+0.4%	+1.6%
Q2 25	10M	+0.5%	+2.0%
Q3 25	10M	+0.5%	+2.0%
Q4 25	10M	+0.4%	+1.8%
Q1 26	10M	+0.5%	+1.9%
Q2 26	10M	+0.4%	+1.8%
Q3 26	10M	0.0%	+1.3%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q4 22	$51.6K	197
Q1 23	$41.6K	197
Q2 23	$45.4K	197
Q3 23	$53.9K	197
Q4 23	$66.3K	196
Q1 24	$63.3K	196
Q2 24	$69.3K	196
Q3 24	$70.0K	196
Q4 24	$75.2K	207
Q1 25	$72.8K	207
Q2 25	$76.4K	207
Q3 25	$91.4K	207
Q4 25	$88.4K	226
Q1 26	$61.1K	226
Q2 26	$75.8K	226
Q3 26	$74.7K	226

Revenue / Employee