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Frequency Electronics (FEIM) earnings and revenue breakdown

Latest: Q1 FY27 · 10-Q filed Sep 14, 2026 · Frequency Electronics (FEIM) Q1 FY27 earnings results →

Q1 FY27 Revenue up 70% year over year to $23.5M · 18¢ of every $1 of revenue kept as net profit · operating margin 22.2%

Frequency Electronics made $23.5M in Q1 FY27 (+70% Y/Y): Satellite Revenue $11.8M, Government Non Space Revenue $11.1M, Other Commercial Industrial Revenue $605K. Operating margin 22.2%, net earnings $4.2M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Sep 14, 2026.

Revenue$23.5M
Year over year+70%
Operating margin22.2%
Net earnings$4.2M
Operating cash flow$2.6M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $23.5M in Q1 FY27, up 70% year over year and up 52% from the previous quarter. Satellite Revenue was the largest line at 50% of revenue. Satellite Revenue added $5.3M year over year (up 81%), 55% of the total change.

Gross margin was 45.8%, up 9.0 points from Q1 FY26. Operating profit was $5.2M, a 22.2% margin (up 19.5 points year over year). Of the extra revenue versus Q1 FY26, 50% reached operating profit, above the 3% margin then. Operating expenses grew 18% against revenue growth of 70%. The fastest-growing cost line was Research & development (+28%). Net earnings were $4.2M, up 565% year over year. The effective tax rate was 19.6%.

Operating cash flow was $2.6M (up 126% year over year), 62% of net earnings. Non-cash charges added back $287K of depreciation and amortization. Working capital and other items used $1.9M. Capital expenditures of $844K left free cash flow of $1.8M.

Quarterly history

Frequency Electronics revenue by quarterFrequency Electronics revenue by quarter$18.9MQ3 FY25$20.0MQ4 FY25$13.8MQ1 FY26$17.1MQ2 FY26$16.9MQ3 FY26$15.4MQ4 FY26$23.5MQ1 FY27
Frequency Electronics net earnings by quarterFrequency Electronics net earnings by quarter$15.4MQ3 FY25$3.2MQ4 FY25$634KQ1 FY26$1.8MQ2 FY26$1.6MQ3 FY26−$4.9MQ4 FY26$4.2MQ1 FY27
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q1 FY2710-QSep 14, 2026$23.5M+70%22.2%$4.2M$2.6M
Q4 FY2610-KJul 17, 2026$15.4M-23%-41.2%−$4.9M$2.1M
Q3 FY2610-QMar 17, 2026$16.9M-11%7.5%$1.6M−$1.4M
Q2 FY2610-QDec 15, 2025$17.1M+8%10.0%$1.8M−$523K
Q1 FY2610-QSep 15, 2025$13.8M-8%2.6%$634K$1.2M
Q4 FY2510-KJul 18, 2025$20.0M+28%16.4%$3.2M−$155K
Q3 FY2510-QMar 17, 2025$18.9M+38%18.3%$15.4M−$3.6M

Charts

Frequency Electronics: revenue growth, year over year and quarter over quarterFrequency Electronics: revenue growth, year over year and quarter over quarterY/YQ/Q+38%Q3 FY25+28%+6%Q4 FY25-8%-31%Q1 FY26+8%+24%Q2 FY26-11%-1%Q3 FY26-23%-9%Q4 FY26+70%+52%Q1 FY27
Latest (Q1 FY27): Y/Y +70%, Q/Q +52%.
Frequency Electronics: where the cash came from (+) and went (−), TTM to Q1 FY27Frequency Electronics: where the cash came from (+) and went (−), TTM to Q1 FY27Other financing$58.1MCash drawn (+) / kept (−)−$56.9MCapital spending−$2.9MOperating cash flow$2.7MBuybacks−$991KOther investing−$100K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Frequency Electronics: profit against cash, quarter by quarterFrequency Electronics: profit against cash, quarter by quarterNet incomeOperating cash flow$2.7M$3.8MQ2 FY25$15.4M−$3.6MQ3 FY25$3.2M−$155KQ4 FY25$634K$1.2MQ1 FY26$1.8M−$523KQ2 FY26$1.6M−$1.4MQ3 FY26−$4.9M$2.1MQ4 FY26$4.2M$2.6MQ1 FY27
Latest (Q1 FY27): Net income $4.2M, Operating cash flow $2.6M.
Frequency Electronics: diluted shares by fiscal yearFrequency Electronics: diluted shares by fiscal year9MFY219MFY229MFY239MFY2410MFY2510MFY26
+5.8% since FY21: more shares outstanding (issuance, stock pay).
Frequency Electronics in its industry: growth against margin (9 companies, SIC 3825)Frequency Electronics in its industry: growth against margin (9 companies, SIC 3825)revenue growth, year over year →↑ operating marginmedian +18%median 14%VLTOTERITRICOHUALNTTRNSINTTDAIOFEIM (+70%, 22%)
Instruments For Meas & Testing of Electricity & Elec Signals; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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Customers and suppliers named in filings

Sells to

About Frequency Electronics

Frequency Electronics, Inc. (sometimes referred to as “Registrant”, “Frequency Electronics” or the “Company”) is a world leader in precision time and frequency generation technology, which is incorporated into commercial and U.S. Government satellites, Command, Control, Communication, Computer, Intelligence, Surveillance and Reconnaissance (“C4ISR”), and Electronic Warfare (“EW”) systems. Its technology is used for a wide range of space and non-space applications. Unless the context indicates otherwise, references to the Registrant or the Company are to Frequency Electronics, Inc. and its subsidiaries. References to “FEI” are to the parent company alone and do not refer to any of the subsidiaries. Frequency Electronics, a Delaware corporation, has its principal executive office at 55 Charles Lindbergh Boulevard, Mitchel Field, New York 11553.

In its own words, from its annual report, filed Jul 18, 2025.

Frequency Electronics against its Instruments For Meas & Testing of Electricity & Elec Signals peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +70% against the peers' median +34%. Operating margin: 22.2% against the peers' median 15.9%.

CompanyQuarterRevenueY/YOp. margin
FEIM Frequency ElectronicsQ1 FY27$23.5M+70%22.2%
VLTO VeraltoQ3 2026$1.5B+8%19.7%
TER TeradyneQ3 2026$1.3B+70%30.8%
ITRI ItronQ3 2026$599M+3%15.9%
COHU CohuQ3 2026$173M+37%7.4%
ALNT AllientQ3 2026$164M+18%13.6%
TRNS TranscatQ2 FY27$97.1M+18%5.2%
INTT IntestQ3 2026$35.1M+34%7.8%
AEHR Aehr Test SystemsQ3 2026$33.0M—18.3%

Source: Frequency Electronics 10-Q on SEC EDGAR · CIK 39020 · Instruments For Meas & Testing of Electricity & Elec Signals

13F: who owns FEIM and who is buying

Largest holders of FEIM (13F)Largest holders of FEIM (13F)Edenbrook Capital, LLC$124MDriehaus Capital Management LLC$46.9MBlackRock$34.3MVanguard Group$23.9MVanguard Capital Management LLC$19.4MNext Century Growth Investors LLC$15.3MDimensional Fund Advisors LP$15.1MGoldman Sachs Group$13.6MG2 Investment Partners Management…$13.4MPalisades Investment Partners, LLC$12.8M
Funds' net buying of FEIM by quarter (13F)Funds' net buying of FEIM by quarter (13F)−$1.6M2024-09$2.1M2024-12$1.7M2025-03$16.2M2025-06$17.5M2025-09$22.3M2025-12$21.4M2026-03$16.3M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on FEIM

History

Every quarter: Q1 FY27 results · Q4 FY26 results · Q3 FY26 results · Q2 FY26 results · Q1 FY26 results · Q4 FY25 results · Q3 FY25 results

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中文版：Frequency Electronics（FEIM）财报

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