RELL

MKT CAP:$209M

Richardson Electronics, Ltd.

Market Cap

$209M

Technology·Hardware, Equipment & Parts·🇺🇸 United States·NASDAQ

Technology·Hardware,·🇺🇸·NASDAQ

Stock Price

$13.80+$3.04 (+28.25%)

Apr 22, 2026

Company Details

Richardson Electronics, Ltd. engages in the power and microwave technologies, customized display solutions, and healthcare businesses in North America, the Asia Pacific, Europe, and Latin America. Its Power and Microwave Technologies Group ...

CEO

Edward J. Richardson

IPO Date

Oct 28, 1983

Website

www.rell.com

Key Metrics TTM

Revenue

$214M

+4.8% YoY

Net Income

$4M

EPS (Diluted)

$0.27

Free Cash Flow

-$6M

Revenue / Share

$16.97

Gross Margin

31.3%

Operating Margin

1.5%

Net Margin

1.8%

FCF Margin

-2.6%

P/S

1.0x

P/E

55.6x

Earnings Reports

Q3 2026

Apr 9, 2026

$55M+3.1%EPS $0.06

Q2 2026

Jan 8, 2026

$52M+5.7%EPS -$0.01

Q1 2026

Oct 9, 2025

$55M+1.6%EPS $0.13

FY 2025

Aug 4, 2025

$209M+6.3%EPS -$0.09

Q4 2025

Aug 4, 2025

$52M+9.5%EPS $0.09

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q4 22	$62M	$20M	$5M
Q1 23	$68M	$23M	$9M
Q2 23	$66M	$22M	$7M
Q3 23	$70M	$22M	$8M
Q4 23	$59M	$16M	$1M
Q1 24	$53M	$17M	$1M
Q2 24	$44M	$13M	-$2M
Q3 24	$52M	$15M	$1M
Q4 24	$47M	$15M	-$114.0K
Q1 25	$54M	$16M	$316.0K
Q2 25	$49M	$15M	-$667.0K
Q3 25	$54M	$17M	$2M
Q4 25	$52M	$16M	$631.0K
Q1 26	$55M	$17M	$968.0K
Q2 26	$52M	$16M	$135.0K
Q3 26	$55M	$18M	$2M

Valuation

Quarter	P/S	P/E
Q4 22	0.9x	11.0x
Q1 23	1.0x	10.8x
Q2 23	1.4x	15.0x
Q3 23	1.1x	11.2x
Q4 23	0.8x	10.0x
Q1 24	0.7x	9.6x
Q2 24	0.9x	19.9x
Q3 24	0.6x	28.1x
Q4 24	0.8x	2653.9x
Q1 25	0.9x	—
Q2 25	1.0x	446.8x
Q3 25	0.9x	—
Q4 25	0.6x	—
Q1 26	0.6x	661.2x
Q2 26	0.7x	184.0x
Q3 26	0.7x	41.6x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 22	$3M	$2M
Q1 23	-$3M	-$5M
Q2 23	-$4M	-$5M
Q3 23	-$4M	-$6M
Q4 23	$3M	$809.0K
Q1 24	$1M	-$126.0K
Q2 24	$800.0K	-$715.0K
Q3 24	-$3M	-$3M
Q4 24	$7M	$6M
Q1 25	$412.0K	-$514.0K
Q2 25	$5M	$5M
Q3 25	$5M	$4M
Q4 25	$74.0K	-$745.0K
Q1 26	$1M	$342.0K
Q2 26	-$99.0K	-$2M
Q3 26	-$3M	-$3M

Capital Expenditures

Quarter	CapEx
Q4 22	$959.0K
Q1 23	$1M
Q2 23	$1M
Q3 23	$2M
Q4 23	$2M
Q1 24	$1M
Q2 24	$2M
Q3 24	$401.0K
Q4 24	$984.0K
Q1 25	$926.0K
Q2 25	$517.0K
Q3 25	$549.0K
Q4 25	$819.0K
Q1 26	$1M
Q2 26	$2M
Q3 26	$759.0K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 22	+22.1%	+17.7%
Q1 23	+25.8%	+15.5%
Q2 23	+22.1%	+18.8%
Q3 23	+27.2%	+21.4%
Q4 23	-4.5%	+1.4%
Q1 24	-22.2%	-13.0%
Q2 24	-33.0%	-21.5%
Q3 24	-25.6%	-18.1%
Q4 24	-19.5%	-17.3%
Q1 25	+2.2%	+4.5%
Q2 25	+12.1%	+8.9%
Q3 25	+2.7%	+0.5%
Q4 25	+9.5%	+7.9%
Q1 26	+1.6%	+0.4%
Q2 26	+5.7%	+4.0%
Q3 26	+3.1%	+4.5%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 22	$140.0K	0.2%
Q1 23	$311.0K	0.5%
Q2 23	$213.0K	0.3%
Q3 23	$206.0K	0.3%
Q4 23	$206.0K	0.4%
Q1 24	$483.0K	0.9%
Q2 24	$283.0K	0.6%
Q3 24	$279.0K	0.5%
Q4 24	$281.0K	0.6%
Q1 25	$593.0K	1.1%
Q2 25	$313.0K	0.6%
Q3 25	$320.0K	0.6%
Q4 25	$319.0K	0.6%
Q1 26	$641.0K	1.2%
Q2 26	$325.0K	0.6%
Q3 26	$330.0K	0.6%

OpEx Breakdown

Quarter	SG&A
Q4 22	$15M
Q1 23	$14M
Q2 23	$15M
Q3 23	$15M
Q4 23	$15M
Q1 24	$16M
Q2 24	$14M
Q3 24	$14M
Q4 24	$15M
Q1 25	$16M
Q2 25	$16M
Q3 25	$15M
Q4 25	$16M
Q1 26	$16M
Q2 26	$16M
Q3 26	$16M

Revenue Segments

Quarter

Revenue by Geography

Quarter	Asia Pacific	Europe	Latin America	North America	Unallocated Other
Q1 23	$18M	$15M	$3M	$32M	-$26.0K
Q2 23	$15M	$17M	$2M	$32M	-$13.0K
Q3 23	$15M	$16M	$10M	$30M	-$13.0K
Q1 24	$13M	$16M	$3M	$20M	$2M
Q2 24	$10M	$15M	$3M	$17M	-$28.0K
Q3 24	$12M	$16M	$3M	$21M	-$10.0K
Q4 24	$10M	$15M	$3M	$19M	—
Q2 25	$11M	$16M	$2M	$21M	$5.0K
Q3 25	$11M	$14M	$2M	$26M	$228.0K

War Chest

Quarter	Cash	Short-term Investments	Total
Q4 22	$35M	$5M	$40M
Q1 23	$31M	$5M	$36M
Q2 23	$26M	$5M	$31M
Q3 23	$25M	$0	$25M
Q4 23	$25M	$0	$25M
Q1 24	$24M	$0	$24M
Q2 24	$23M	$0	$23M
Q3 24	$19M	$0	$19M
Q4 24	$24M	$0	$24M
Q1 25	$23M	$0	$23M
Q2 25	$27M	$0	$27M
Q3 25	$37M	$0	$37M
Q4 25	$36M	$0	$36M
Q1 26	$36M	$0	$36M
Q2 26	$33M	$0	$33M
Q3 26	$29M	$0	$29M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q4 22	14M	-1.0%	+3.8%
Q1 23	14M	+3.1%	+6.0%
Q2 23	14M	-0.0%	+4.3%
Q3 23	15M	+0.9%	+2.9%
Q4 23	14M	-0.5%	+3.5%
Q1 24	14M	-0.4%	+0.0%
Q2 24	14M	-2.2%	-2.2%
Q3 24	14M	+1.6%	-1.5%
Q4 24	14M	-1.5%	-2.5%
Q1 25	14M	+2.9%	+0.7%
Q2 25	12M	-15.3%	-12.9%
Q3 25	14M	+17.3%	+0.6%
Q4 25	13M	-13.0%	-11.1%
Q1 26	15M	+16.6%	+0.8%
Q2 26	13M	-13.8%	+2.7%
Q3 26	13M	+0.4%	-12.2%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q4 22	$137.9K	447
Q1 23	$151.1K	447
Q2 23	$147.4K	447
Q3 23	$157.4K	447
Q4 23	$121.3K	485
Q1 24	$108.4K	485
Q2 24	$91.0K	485
Q3 24	$108.0K	485
Q4 24	$107.2K	442
Q1 25	$121.5K	442
Q2 25	$112.0K	442
Q3 25	$121.7K	442
Q4 25	$120.4K	431
Q1 26	$126.7K	431
Q2 26	$121.3K	431
Q3 26	$128.7K	431

Revenue / Employee