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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% | - |
| 2023 | $41M | $-3M | $-6M | $0M | -16.7% | -15.6% | - |
| 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 |
| 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 |
| Operating Income | -8.04 | -4.67 | 5.02 | 11.73 |
| EBITDA | -5.56 | -2.84 | 7.70 | 14.30 |
| EBIT | -8.59 | -5.27 | 5.57 | 12.25 |
| Pretax Income | -8.66 | -5.43 | 5.46 | 12.14 |
| Tax Provision | 0 | 0.07 | -0.13 | -11.54 |
| Net Income | -8.66 | -5.50 | 5.59 | 23.69 |
| Net Income Common Stockholders | -8.66 | -5.50 | 5.59 | 23.69 |
| Total Expenses | 56.33 | 45.45 | 50.26 | 58.08 |
| Interest Expense | 0.08 | 0.16 | 0.11 | 0.10 |
| Research And Development | 4.97 | 3.15 | 3.38 | 6.08 |
| Selling General And Administration | 11.66 | 9.37 | 10.18 | 12.29 |
| Normalized EBITDA | -4.85 | -2.23 | 7.14 | 13.78 |
| Normalized Income | -7.96 | -5.02 | 5.15 | 23.28 |
| Basic EPS | -0.93 | -0.59 | 0.59 | 2.48 |
| Diluted EPS | -0.93 | -0.59 | 0.59 | 2.48 |
| Tax Effect Of Unusual Items | 0 | -0.13 | 0.12 | 0.11 |
| Tax Rate For Calcs | 0 | 0.21 | 0.21 | 0.21 |
| Total Unusual Items | -0.71 | -0.61 | 0.56 | 0.52 |
| Total Unusual Items Excluding Goodwill | -0.71 | -0.61 | 0.56 | 0.52 |
| Net Income From Continuing Operation Net Minority Interest | -8.66 | -5.50 | 5.59 | 23.69 |
| Reconciled Depreciation | 3.02 | 2.43 | 2.12 | 2.06 |
| Reconciled Cost Of Revenue | 39.70 | 32.93 | 36.69 | 39.71 |
| Net Interest Income | -0.08 | -0.16 | -0.11 | -0.10 |
| Net Income From Continuing And Discontinued Operation | -8.66 | -5.50 | 5.59 | 23.69 |
| Total Operating Income As Reported | -8.04 | -4.67 | 5.02 | 11.73 |
| Diluted Average Shares | 9.27 | 9.34 | 9.43 | 9.61 |
| Basic Average Shares | 9.27 | 9.34 | 9.43 | 9.61 |
| Diluted NI Availto Com Stockholders | -8.66 | -5.50 | 5.59 | 23.69 |
| Net Income Including Noncontrolling Interests | -8.66 | -5.50 | 5.59 | 23.69 |
| Net Income Continuous Operations | -8.66 | -5.50 | 5.59 | 23.69 |
| Other Income Expense | -0.55 | -0.60 | 0.55 | 0.52 |
| Other Non Operating Income Expenses | 0.16 | 0.01 | -0.01 | 0 |
| Special Income Charges | -0.91 | 0 | 0 | 0 |
| Gain On Sale Of Ppe | -0.11 | 0 | 0 | 0 |
| Write Off | 0.80 | 0 | 0 | 0 |
| Gain On Sale Of Security | 0.20 | -0.61 | 0.56 | 0.52 |
| Net Non Operating Interest Income Expense | -0.08 | -0.16 | -0.11 | -0.10 |
| Interest Expense Non Operating | 0.08 | 0.16 | 0.11 | 0.10 |
| Operating Revenue | 48.30 | 40.78 | 55.27 | 69.81 |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Frequency Electronics, Inc.this co. | FEIM | $464M | 64.62↑ premium | 7.70 | 42.6% | 54.74 |
| Grid Dynamics Holdings, Inc. | GDYN | $502M | 50.50 | 0.90 | 1.8% | 7.03 |
| International Money Express, Inc. | IMXI | $480M | 14.74 | 2.94 | 20.3% | 5.96 |
| Paysafe Limited | PSFE | $464M | - | 0.71 | -27.9% | 7.05 |
| Consensus Cloud Solutions, Inc. | CCSI |
| $463M |
| 5.79 |
| 34.68 |
| 613.7% |
| 5.75 |
| PubMatic, Inc. | PUBM | $461M | - | 1.74 | -5.5% | 85.34 |
| Ooma, Inc. | OOMA | $442M | 70.00 | 4.77 | 7.0% | 29.36 |
| OneSpan Inc. | OSPN | $426M | 6.11 | 1.58 | 26.8% | 6.04 |
| Priority Technology Holdings, Inc. | PRTH | $423M | 7.56 | -4.19 | -60.3% | 7.33 |
| Peer Median | - | 11.15 | 1.66 | 4.4% | 7.04 | |