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Richardson Electronics, Ltd. provides engineered solutions, power grid and microwave tube, and related consumables in North America, the Asia Pacific, Europe, and Latin America. The company's Power and Microwave Technologies segment manufactures electron tubes and radio frequency (RF), microwave and power components used in semiconductor manufacturing equipment, RF, and wireless and industrial power applications, as well as various applications, including broadcast transmission, CO2 laser cutting, diagnostic imaging, dielectric and induction heating, energy transfer, high voltage switching, plasma, power conversion, radar, and radiation oncology. This segment also provides thyratrons and rectifiers, power tubes, ignitrons, magnetrons, phototubes, microwave generators, ultracapacitor modules, and liquid crystal display monitors under the Amperex, Cetron, and National brands. Its Green Energy Solutions segment operates as a designer, manufacturer, technology partner, and distributor of products for green energy applications, such as wind, solar, hydrogen, and electric vehicles; and other power management applications that support green solutions comprising synthetic diamond manufacturing. The company's Canvys segment provides custom display solutions consisting of touch screens, protective panels, custom enclosures, all-in-one computers, specialized cabinet finishes and application-specific software packages, and certification. Its Healthcare segment offers diagnostic imaging replacement parts for CT and MRI systems, replacement CT and MRI tubes, CT service training, MRI and RF amplifiers, hydrogen thyratrons, klystrons, flat panel detector upgrades, pre-owned CT systems, and replacement solutions for the healthcare market. The company serves energy, healthcare, aviation, broadcast, communications, industrial, marine, medical, military, scientific, and semiconductor markets. The company was founded in 1947 and is headquartered in LaFox, Illinois.
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 | $209M | $7M | $-1M | $8M | -0.7% | 6.3% | -1973.8% |
| 2024 | $196M | $5M | $0M | $2M | 0.0% | -25.2% | -99.7% |
| 2023 | $263M | $29M | $22M | $-16M | 14.0% | 16.9% | 24.6% |
| 2022 | $225M | $19M | $18M | $-1M | 13.2% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 224.62 | 262.66 | 196.46 | 208.91 |
| Operating Revenue | 224.62 | 262.66 | 196.46 | 208.91 |
| Cost Of Revenue | 152.92 | 178.97 | 136.49 | 144.11 |
| Gross Profit | 71.70 | 83.69 | 59.97 | 64.80 |
| Operating Expense | 55.72 | 58.71 | 59.55 | 62.17 |
| Selling General And Administration | 55.72 | 58.71 | 59.55 | 62.17 |
| Total Expenses | 208.64 | 237.68 | 196.04 | 206.28 |
| Operating Income | 15.98 | 24.98 | 0.42 | 2.63 |
| Total Operating Income As Reported | 15.96 | 24.98 | 0.35 | -2.46 |
| EBITDA | 19.40 | 28.65 | 4.72 | 6.63 |
| Normalized EBITDA | 19.61 | 28.92 | 5.23 | 11.22 |
| EBIT | 15.98 | 24.98 | 0.42 | 2.63 |
| Interest Income | 0.08 | 0.30 | 0.28 | 0.39 |
| Net Interest Income | 0.08 | 0.30 | 0.28 | 0.39 |
| Other Non Operating Income Expenses | 0 | 0.03 | -0.04 | 0.04 |
| Other Income Expense | -0.22 | -0.24 | -0.55 | -4.55 |
| Interest Income Non Operating | 0.08 | 0.30 | 0.28 | 0.39 |
| Net Non Operating Interest Income Expense | 0.08 | 0.30 | 0.28 | 0.39 |
| Pretax Income | 15.76 | 25.03 | 0.16 | -1.53 |
| Tax Provision | -2.17 | 2.70 | 0.10 | -0.39 |
| Tax Rate For Calcs | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | -0.03 | -0.03 | -0.11 | -1.16 |
| Net Income Continuous Operations | 17.93 | 22.33 | 0.06 | -1.14 |
| Net Income From Continuing And Discontinued Operation | 17.93 | 22.33 | 0.06 | -1.14 |
| Net Income From Continuing Operation Net Minority Interest | 17.93 | 22.33 | 0.06 | -1.14 |
| Net Income | 17.93 | 22.33 | 0.06 | -1.14 |
| Net Income Common Stockholders | 17.93 | 19.01 | -3.32 | -4.55 |
| Net Income Including Noncontrolling Interests | 17.93 | 22.33 | 0.06 | -1.14 |
| Normalized Income | 18.11 | 22.57 | 0.46 | 2.29 |
| Diluted NI Availto Com Stockholders | 17.93 | 19.01 | -3.32 | -4.55 |
| Basic Average Shares | 13.48 | 14 | 14.26 | - |
| Diluted Average Shares | 13.90 | 14.59 | 14.52 | - |
| Reconciled Depreciation | 3.42 | 3.67 | 4.31 | 4 |
| Reconciled Cost Of Revenue | 152.92 | 178.97 | 136.49 | 144.11 |
| Total Unusual Items | -0.21 | -0.27 | -0.51 | -4.59 |
| Total Unusual Items Excluding Goodwill | -0.21 | -0.27 | -0.51 | -4.59 |
| Special Income Charges | -0.02 | 0.01 | -0.07 | -5.09 |
| Gain On Sale Of Security | -0.19 | -0.28 | -0.44 | 0.50 |
| Gain On Sale Of Ppe | -0.02 | 0.01 | -0.07 | -5.09 |
| Otherunder Preferred Stock Dividend | - | 3.32 | 3.38 | 3.41 |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Richardson Electronics, Ltd.this co. | RELL | $251M | -219.31 | 1.60 | -0.7% | 32.74 |
| Asure Software, Inc. | ASUR | $261M | -19.88 | 1.32 | -6.6% | 15.09 |
| Conduent Incorporated | CNDT | $259M | -1.52 | 0.38 | -24.8% | 10.57 |
| Blaize Holdings, Inc. | BZAI | $258M | -1.24 | 6.60 | -530.5% | -2.37 |
| CS Disco, Inc. | LAW | $251M |
| -5.67 |
| 1.96 |
| -34.6% |
| -5.37 |
| Aviat Networks, Inc. | AVNW | $250M | 186.71 | 0.95 | 0.5% | 15.93 |
| Turtle Beach Corporation | TBCH | $248M | 15.78 | 1.93 | 12.2% | 8.09 |
| Commerce.com, Inc. | CMRC | $235M | -12.14 | 5.97 | -49.1% | 55.05 |
| Inseego Corp. | INSG | $228M | 272.12 | -56.39 | -20.7% | 18.42 |
| Peer Median | - | -1.38 | 1.63 | -22.8% | 12.83 | |