Frequency Electronics Inc key statistics and ratios

In fiscal 2026, Frequency Electronics Inc had return on equity of -1.6%, an operating margin of -4.7%, debt equal to 0.0% of equity and a current ratio of 2.29. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Frequency Electronics Inc: financial ratios, annual
Fiscal year	2011Apr 2011	2012Apr 2012	2013Apr 2013	2014Apr 2014	2015Apr 2015	2016Apr 2016	2017Apr 2017	2018Apr 2018	2019Apr 2019	2020Apr 2020	2021Apr 2021	2022Apr 2022	2023Apr 2023	2024Apr 2024	2025Apr 2025	2026Apr 2026	LTMJul 2026
Gross margin	37.5%	38.7%	36.4%	34.6%	30.8%	34.8%	22.3%	13.1%	31.9%	13.8%	31.2%	17.8%	19.2%	33.6%	43.1%	29.1%	33.0%
Operating margin	6.6%	10.5%	6.8%	6.8%	4.8%	4.5%	−14.9%	−31.5%	−5.7%	−26.3%	−1.8%	−16.6%	−11.5%	9.1%	16.8%	−4.7%	2.5%
Net margin	11.3%	11.6%	5.3%	5.6%	3.7%	1.8%	−9.6%	−60.3%	−5.1%	−24.2%	1.3%	−17.9%	−13.5%	10.1%	33.9%	−1.4%	3.7%
Free-cash-flow margin	−0.1%	1.2%	0.8%	−2.5%	−3.0%	−0.6%	−2.7%	7.9%	−5.8%	−7.0%	20.1%	4.5%	0.6%	13.1%	−4.6%	−2.5%	−0.3%
Return on equity	8.4%	9.8%	4.6%	4.7%	3.1%	1.1%	−5.3%	−31.1%	−4.0%	−17.1%	1.2%	−17.0%	−13.8%	15.4%	49.6%	−1.6%	3.0%
Return on assets	6.7%	7.5%	3.4%	3.5%	2.4%	0.8%	−4.1%	−24.1%	−3.0%	−11.3%	0.7%	−9.5%	−6.9%	7.1%	26.8%	−1.0%	2.2%
Asset turnover	0.59	0.65	0.64	0.63	0.65	0.46	0.43	0.40	0.58	0.47	0.57	0.53	0.51	0.70	0.79	0.69	0.60
Current ratio	9.17	4.93	8.69	9.06	10.01	8.33	8.61	9.84	9.03	3.74	2.97	2.56	1.77	1.89	2.26	2.29	5.34
Debt to equity	0.4%	8.1%	7.5%	11.4%	6.5%	6.4%	0.0%	—	0.0%	9.2%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Interest cover (operating income ÷ interest)	29.6x	55.4x	24.0x	31.2x	26.4x	18.8x	n/m	n/m	n/m	n/m	n/m	n/m	n/m	46.0x	112.8x	n/m	22.4x
Effective tax rate	—	−8.2%	27.5%	35.9%	37.7%	32.7%	—	—	—	—	−42.9%	—	—	−2.4%	—	—	—
R&D as % of revenue	9.5%	6.1%	8.3%	8.1%	7.4%	9.8%	13.7%	17.6%	13.1%	12.2%	8.6%	10.3%	7.7%	6.1%	8.7%	9.5%	8.7%
SG&A as % of revenue	21.4%	22.1%	21.3%	19.7%	18.6%	20.5%	23.6%	26.9%	24.4%	27.9%	24.3%	24.1%	23.0%	18.4%	17.6%	24.4%	21.9%
Capital spending as % of revenue	3.7%	2.2%	3.3%	7.6%	5.4%	5.9%	10.4%	3.6%	5.6%	3.6%	2.3%	3.9%	2.3%	2.7%	2.6%	4.5%	4.0%
Free cash flow ÷ net income	−1.2%	10.1%	15.8%	−43.6%	−80.5%	−33.8%	—	—	—	—	>999%	—	—	129.0%	−13.7%	—	−6.9%
Dividends ÷ net income	—	0.0%	45.7%	0.0%	—	—	—	—	—	—	—	—	—	0.0%	40.4%	—	—
Dividends and buybacks ÷ free cash flow	—	0.0%	288.9%	—	—	—	—	—	—	—	—	0.0%	>999%	0.0%	—	—	—

US$ thousands unless shown otherwise. Fiscal quarters.

Frequency Electronics Inc: financial ratios, quarterly
Quarter	2025 Q2Oct 2024	2025 Q3Jan 2025	2025 Q4Apr 2025	2026 Q1Jul 2025	2026 Q2Oct 2025	2026 Q3Jan 2026	2026 Q4Apr 2026	2027 Q1Jul 2026
Gross margin	48.2%	43.8%	37.5%	36.8%	38.2%	39.2%	1.0%	45.8%
Operating margin	16.5%	18.3%	16.4%	2.6%	10.0%	7.5%	−41.2%	22.2%
Net margin	16.8%	81.4%	16.0%	4.6%	10.5%	9.3%	−31.9%	18.0%
Free-cash-flow margin	20.8%	−20.9%	−3.9%	2.8%	−6.6%	−13.5%	9.5%	7.6%
Current ratio	1.79	2.19	2.26	2.30	2.59	2.60	2.29	5.34
R&D as % of revenue	10.2%	7.6%	7.7%	8.2%	7.0%	10.4%	12.3%	6.2%
SG&A as % of revenue	21.4%	17.9%	13.4%	26.0%	21.2%	21.3%	29.9%	17.5%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

3 of 3 checks passed · July 31, 2026

What it owns · $154m

Short-term assets $111mLonger-term assets $43m

What it owes, and who funded it · $154m

Short-term liabilities $21mLonger-term liabilities $13mShareholders' equity $120m

Short-term assets cover short-term liabilities $111m of assets due within a year against $21m of liabilities due within a year.
Short-term assets cover long-term liabilities $111m short-term assets against $13m of longer-dated liabilities.
More cash than debt Cash or debt not separately reported. Not assessable.
Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
Operating profit covers interest at least five times over Operating income of $2m against $82,000 of interest.

From Frequency Electronics Inc's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

22 /100

Weak moat

How hard Frequency Electronics's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

Returns on capital 0 / 20

Net income has been a median -1.9% of total assets over 10 years.
Pricing power 3 / 20

Gross margin has been a median 29.3%, moving by 10.0 percentage points (standard deviation) across 10 years.
Durability 10 / 20

Operating margin has been a median -5.7%; its worst year was -32.5%.
Cash conversion 5 / 20

Free cash flow was positive in 5 of 10 years, at a median 0.3% of revenue.
Discipline 9 / 20

The diluted share count rose 7.0% over five years.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (27 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

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Figures from Frequency Electronics Inc's SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Frequency Electronics Inc.