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How Frequency Electronics (FEIM) makes money

Frequency Electronics (FEIM) made $23.5M of revenue in the first quarter fiscal 2027 (Q1 FY27), +70% from a year earlier. Satellite Revenue brought in $11.8M (50%); Government Non Space Revenue brought in $11.1M (47%); Other Commercial Industrial Revenue brought in $605K (3%). Of every dollar of revenue, 46¢ was left as gross profit, 22¢ was left as operating profit, 18¢ was left as net earnings.

Drawing the Sankey…

Frequency Electronics revenue by segment, Q1 FY27Frequency Electronics revenue by segment, Q1 FY27Satellite Revenue$11.8MGovernment Non Space Revenue$11.1MOther Commercial Industrial Reven…$605K
Frequency Electronics: revenue by line, Q3 FY25 to Q1 FY27Frequency Electronics: revenue by line, Q3 FY25 to Q1 FY27Government Non Space …Satellite RevenueOther Commercial Indu…Government Non Space Revenue: $11.1M latest$11.1MSatellite Revenue: $11.8M latest$11.8MOther Commercial Industrial Revenue: $605K latestQ3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Satellite Revenue went from 59% of revenue in Q3 FY25 to 50% in Q1 FY27, the largest shift in the mix.
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: where each dollar of revenue goesFrequency Electronics: where each dollar of revenue goesCost of revenue54¢Gross profit46¢Operating expenses24¢Operating profit22¢Income tax4¢Net earnings18¢Operating cash flow11¢Free cash flow8¢

Revenue by segment, Q1 FY27

SegmentRevenueShareQ/QY/Y
Satellite Revenue$11.8M50.2%+53%+81%
Government Non Space Revenue$11.1M47.2%+63%+61%
Other Commercial Industrial Revenue$605K2.6%-33%+38%

Where each dollar of revenue goes

LineQ1 FY27% of revenue
Revenue$23.5M100.0%
Cost of revenue$12.7M54.2%
Gross profit$10.8M45.8%
Operating expenses$5.5M23.7%
Operating profit$5.2M22.2%
Income tax$1.0M4.4%
Net earnings$4.2M18.0%
Operating cash flow$2.6M11.2%
Free cash flow$1.8M7.6%

Revenue, quarter by quarter

QuarterRevenueY/Y
Q1 FY27$23.5M+70%
Q4 FY26$15.4M-23%
Q3 FY26$16.9M-11%
Q2 FY26$17.1M+8%
Q1 FY26$13.8M-8%
Q4 FY25$20.0M+28%
Q3 FY25$18.9M+38%

From Frequency Electronics' 10-Q filed Sep 14, 2026 (on EDGAR).

Questions

How does Frequency Electronics make money?

Frequency Electronics (FEIM) made $23.5M of revenue in the first quarter fiscal 2027 (Q1 FY27), +70% from a year earlier. Satellite Revenue brought in $11.8M (50%); Government Non Space Revenue brought in $11.1M (47%); Other Commercial Industrial Revenue brought in $605K (3%). Of every dollar of revenue, 46¢ was left as gross profit, 22¢ was left as operating profit, 18¢ was left as net earnings.

What is Frequency Electronics' biggest business?

Satellite Revenue: $11.8M in the first quarter fiscal 2027, 50% of revenue, +81% from a year earlier.

What is Frequency Electronics' profit margin?

Net earnings were $4.2M, 18.0% of revenue, in the first quarter fiscal 2027; the operating margin was 22.2%.

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Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.