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Frequency Electronics, Inc., together with its subsidiaries, engages in the design, development, manufacture, marketing, and sale of precision time and frequency control products and components for microwave integrated circuit applications. The company operates through two segments, FEI-NY and FEI-Zyfer. The FEI-NY segment offers precision time and frequency control products for communication satellites, terrestrial cellular telephone or other ground-based telecommunication stations; and other components and systems for the U.S. military. This segment also provides design and technical support for the satellite business. The FEI-Zyfer segment provides global positioning system technologies for systems and subsystems for secure communications, government and commercial, and other locator applications; and engages in the sale and support of wireline telecommunications products, including US5G. It operates in the United States, Europe, and Asia. Frequency Electronics, Inc. was founded in 1961 and is headquartered in Mitchel Field, New York.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $70M | $14M | $24M | $-3M | 42.6% | 26.3% | 323.4% |
| 2024 | $55M | $8M | $6M | $7M | 14.0% | 35.6% | -201.7% |
| 2023 | $41M | $-3M | $-6M | $0M | -16.7% | -15.6% | -36.5% |
| 2022 | $48M | $-6M | $-9M | $2M | -18.6% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 48.30 | 40.78 | 55.27 | 69.81 |
| Operating Revenue | 48.30 | 40.78 | 55.27 | 69.81 |
| Cost Of Revenue | 39.70 | 32.93 | 36.69 | 39.71 |
| Gross Profit | 8.60 | 7.85 | 18.58 | 30.10 |
| Operating Expense | 16.64 | 12.52 | 13.56 | 18.36 |
| Research And Development | 4.97 | 3.15 | 3.38 | 6.08 |
| Selling General And Administration | 11.66 | 9.37 | 10.18 | 12.29 |
| Total Expenses | 56.33 | 45.45 | 50.26 | 58.08 |
| Operating Income | -8.04 | -4.67 | 5.02 | 11.73 |
| Total Operating Income As Reported | -8.04 | -4.67 | 5.02 | 11.73 |
| EBITDA | -5.56 | -2.84 | 7.70 | 14.30 |
| Normalized EBITDA | -4.85 | -2.23 | 7.14 | 13.78 |
| EBIT | -8.59 | -5.27 | 5.57 | 12.25 |
| Interest Expense | 0.08 | 0.16 | 0.11 | 0.10 |
| Net Interest Income | -0.08 | -0.16 | -0.11 | -0.10 |
| Other Non Operating Income Expenses | 0.16 | 0.01 | -0.01 | 0 |
| Other Income Expense | -0.55 | -0.60 | 0.55 | 0.52 |
| Interest Expense Non Operating | 0.08 | 0.16 | 0.11 | 0.10 |
| Net Non Operating Interest Income Expense | -0.08 | -0.16 | -0.11 | -0.10 |
| Pretax Income | -8.66 | -5.43 | 5.46 | 12.14 |
| Tax Provision | 0 | 0.07 | -0.13 | -11.54 |
| Tax Rate For Calcs | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | 0 | -0.13 | 0.12 | 0.11 |
| Net Income Continuous Operations | -8.66 | -5.50 | 5.59 | 23.69 |
| Net Income From Continuing And Discontinued Operation | -8.66 | -5.50 | 5.59 | 23.69 |
| Net Income From Continuing Operation Net Minority Interest | -8.66 | -5.50 | 5.59 | 23.69 |
| Net Income | -8.66 | -5.50 | 5.59 | 23.69 |
| Net Income Common Stockholders | -8.66 | -5.50 | 5.59 | 23.69 |
| Net Income Including Noncontrolling Interests | -8.66 | -5.50 | 5.59 | 23.69 |
| Normalized Income | -7.96 | -5.02 | 5.15 | 23.28 |
| Diluted NI Availto Com Stockholders | -8.66 | -5.50 | 5.59 | 23.69 |
| Basic Average Shares | 9.27 | 9.34 | 9.43 | 9.61 |
| Diluted Average Shares | 9.27 | 9.34 | 9.43 | 9.61 |
| Reconciled Depreciation | 3.02 | 2.43 | 2.12 | 2.06 |
| Reconciled Cost Of Revenue | 39.70 | 32.93 | 36.69 | 39.71 |
| Total Unusual Items | -0.71 | -0.61 | 0.56 | 0.52 |
| Total Unusual Items Excluding Goodwill | -0.71 | -0.61 | 0.56 | 0.52 |
| Special Income Charges | -0.91 | 0 | - | - |
| Write Off | 0.80 | 0 | - | - |
| Gain On Sale Of Security | 0.20 | -0.61 | 0.56 | 0.52 |
| Gain On Sale Of Ppe | -0.11 | 0 | - | - |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Frequency Electronics, Inc.this co. | FEIM | $713M | 30.09↑ premium | 12.81 | 42.6% | 50.11 |
| Ibotta, Inc. | IBTA | $764M | 213.61 | 2.65 | 1.2% | 80.56 |
| Red Violet, Inc. | RDVT | $763M | 58.01 | 7.56 | 13.0% | 30.34 |
| PagerDuty, Inc. | PD | $733M | 4.21 | 2.89 | 68.6% | 17.07 |
| Sabre Corporation | SABR | $731M |
| 1.39 |
| -0.70 |
| -49.9% |
| 13.78 |
| Daily Journal Corporation | DJCO | $728M | 6.49 | 1.86 | 28.7% | 4.81 |
| N-able, Inc. | NABL | $723M | - | 0.90 | -2.1% | 12.64 |
| Mitek Systems, Inc. | MITK | $719M | 81.70 | 2.99 | 3.7% | 18.48 |
| NETGEAR, Inc. | NTGR | $691M | -38.55 | 1.39 | -3.6% | -29.25 |
| Peer Median | - | 6.49 | 2.26 | 2.5% | 15.42 | |