Frequency Electronics (FEIM) financial statements
Frequency Electronics reported revenue of $63M in fiscal 2026, up 2.6% a year over 9 years.
Net income was -$903,000 and the operating margin -4.7%, against -14.9% in 2017.
Free cash flow was -$2M, and the company returned $2M in net buybacks.
The diluted share count rose 11% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Frequency Electronics's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $50M | $39M | $50M | $42M | $54M | $48M | $41M | $55M | $70M | $63M |
| Cost of revenue | $39M | $34M | $34M | $36M | $37M | $40M | $33M | $37M | $40M | $45M |
| Gross profit | $11M | $5M | $16M | $6M | $17M | $9M | $8M | $19M | $30M | $18M |
| Research and development | $7M | $7M | $7M | $5M | $5M | $5M | $3M | $3M | $6M | $6M |
| Selling, general and admin | $12M | $11M | $12M | $12M | $13M | $12M | $9M | $10M | $12M | $15M |
| Operating income | -$8M | -$12M | -$3M | -$11M | -$958,000 | -$8M | -$5M | $5M | $12M | -$3M |
| Interest expense | $150,000 | $79,000 | $83,000 | $107,000 | $127,000 | $77,000 | $156,000 | $109,000 | $104,000 | $87,000 |
| Pre-tax income | -$7M | -$11M | -$2M | -$12M | $476,000 | -$9M | -$5M | $5M | $12M | -$3M |
| Income tax | -$2M | $11M | $56,000 | -$2M | -$204,000 | $1,000 | $74,000 | -$130,000 | -$12M | -$2M |
| Net income | -$5M | -$24M | -$3M | -$10M | $680,000 | -$9M | -$6M | $6M | $24M | -$903,000 |
| EPS (diluted) | -$0.55 | -$2.69 | -$0.28 | -$1.10 | $0.07 | — | — | $0.59 | $2.46 | -$0.09 |
| Diluted shares | 9M | 9M | 9M | 9M | 9M | 9M | 9M | 9M | 10M | 10M |
| Gross margin | 22.3% | 13.1% | 31.9% | 13.8% | 31.2% | 17.8% | 19.2% | 33.6% | 43.1% | 29.1% |
| Operating margin | -14.9% | -31.5% | -5.7% | -26.3% | -1.8% | -16.6% | -11.5% | 9.1% | 16.8% | -4.7% |
| Net margin | -9.6% | -60.3% | -5.1% | -24.2% | 1.3% | -17.9% | -13.5% | 10.1% | 33.9% | -1.4% |
Balance sheet
Fiscal years, from Frequency Electronics's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $10M | $14M | $12M | $14M | $20M | $22M | $12M | $18M | $5M | $2M |
| Receivables | $11M | $4M | $6M | $4M | $6M | $4M | $5M | $5M | $6M | $5M |
| Inventory | $29M | $26M | $23M | $23M | $20M | $20M | $21M | $23M | $23M | $23M |
| Total current assets | $70M | $52M | $53M | $51M | $61M | $56M | $48M | $58M | $53M | $48M |
| Property, plant and equipment | $15M | $14M | $13M | $11M | $10M | $9M | $7M | $6M | $6M | $7M |
| Goodwill | — | — | — | — | — | — | $617,000 | $617,000 | $617,000 | $218,000 |
| Total assets | $113M | $84M | $87M | $91M | $99M | $85M | $74M | $83M | $94M | $91M |
| Total current liabilities | $8M | $5M | $6M | $14M | $21M | $22M | $27M | $31M | $23M | $21M |
| Total liabilities | $24M | $20M | $24M | $37M | $43M | $38M | $42M | $43M | $38M | $34M |
| Shareholders' equity | $89M | $63M | $63M | $54M | $55M | $47M | $33M | $40M | $56M | $56M |
| Net debt | -$2M | -$8M | -$4M | $1M | -$10M | -$12M | -$12M | -$18M | -$5M | -$2M |
Cash flow
Fiscal years, from Frequency Electronics's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $4M | $5M | -$97,000 | -$1M | $12M | $4M | $1M | $9M | -$1M | $1M |
| Capital spending | $5M | $1M | $3M | $1M | $1M | $2M | $918,000 | $1M | $2M | $3M |
| Free cash flow | -$1M | $3M | -$3M | -$3M | $11M | $2M | $257,000 | $7M | -$3M | -$2M |
| Stock-based compensation | $662,000 | $470,000 | $500,000 | $312,000 | $273,000 | $247,000 | $197,000 | $822,000 | $1M | $2M |
| Dividends paid | — | — | — | — | — | $0 | $9M | $0 | $10M | $0 |
| Share buybacks (net) | — | — | — | — | — | — | — | $0 | -$377,000 | -$2M |
| Free cash flow margin | -2.7% | 7.9% | -5.8% | -7.0% | 20.1% | 4.5% | 0.6% | 13.1% | -4.6% | -2.5% |
| Dividends per share | — | — | — | — | — | — | $1.00 | — | $1.00 | — |
Questions
What was Frequency Electronics's revenue in 2026?
$63M in fiscal 2026, from its 10-K filing.
How much free cash flow does Frequency Electronics generate?
-$2M in fiscal 2026 (operating cash flow minus capital spending).
From Frequency Electronics's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.