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Richardson Electronics, LTD. (RELL) stock

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NASDAQ: RELL Nasdaq Technology Distributors Next results ~January 6, 2027

C+ Fundamentals grade

Richardson Electronics, LTD. is a US-listed company in the technology distributors industry. Its financial year ends in May.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$6.7

Cash-flow model

Base case. Range ~$5.7–$7.9 across our lower- and higher-growth cases (1.2%–11.2% a year).

Price vs value

Overvalued

The price is above our entire value range; our base value is 66% below it.

Price used: $19.50, November 2, 2026

Richardson Electronics, LTD. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 9 selling0 purchases and 24 sales by directors and officers, last 12 monthsInsider trades
  • Funds69 adding, 31 cuttingOf 17 active managers that changed their stake, 14 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Richardson Electronics files

Where Richardson Electronics, LTD. stands after its latest 10-Q

Revenue for the twelve months to August 2026 was $239m, up 13.9% on a year earlier, faster than the 9.4% growth a quarter earlier. Free-cash-flow margin fell to 0.1% from 4.1% a year earlier. Operating margin widened to 4.4% from -0.9%. The diluted share count is up 3.9% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades C+. It passes 2 of our 2 financial-health checks. Our cash-flow model value is $6.54 a share, against a share price of $21.25.

Source: 10-Q filed October 8, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~January 6, 2027 (estimated)

Richardson Electronics, LTD.'s trailing-twelve-month revenue grew 13.9% year on year, with a free-cash-flow margin of 0.1%. Where it stands out: gross margin of 32.2% ranks 1 of 12 technology distributors companies we cover. Where it lags: change in share count of 3.9% ranks 10 of 12 technology distributors companies we cover.

Our discounted-cash-flow model values the business at ~$6.7 per share in the base case (~$5.7–$7.9 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow fell 97.5% while net income grew 4748.3%: a 4846pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Growth speeding up. The growth rate is 4.5 points higher than a quarter earlier.
  • Margins widening. Operating margin is up 5.3 points on a year ago.
  • Net cash. Cash exceeds long-term debt by $0.0bn.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.
  • Estimates rising. Analysts' consensus for next year's earnings per share has risen 56.7% over 90 days.

Things to watch

  • Priced above our value. The share price of $19.50 is 66% above our value per share of $7.
  • Share dilution. Diluted shares rose 3.9% in a year.
  • Volatile shares. Over the past year the shares showed annualised volatility of 70% and a beta of 2.5 against the S&P 500.
  • Weak cash conversion. Free cash flow was 2% of net income over the last 12 months.
  • Below peers: stock pay as % of revenue. Stock pay as % of revenue of 0.7% ranks 9 of 11 technology distributors companies we cover (median 0.4%).

Latest results: FY2027 Q1

Filed October 8, 2026
Earnings per share
$0.27 against an average estimate of $0.09: beat by 200.0%
Revenue
$65m, up 18.9% on a year earlier
Next report
January 6, 2027; average EPS estimate $0.15

Richardson Electronics' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-1.2%
  • 1 week+5.2%
  • 1 month+2.7%
  • This year+81.5%
  • 1 year+84.2%
  • 5 years+78.7%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$239M
Operating margin
4.4%
Net margin
3.6%
EPS (TTM, diluted)
$0.67

Growth

Revenue growth
+13.9%
Change in growth rate
+4.5 pts
Share count change
+3.9%

Cash

Free cash flow (TTM)
$213,000
FCF margin
0.1%
Stock pay % of revenue
0.7%

Earnings

Last results
July 22, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Deal
  2. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Richardson Electronics, LTD. valuation models and calculator

What the price is pricing in

The share price implies about 34.5% a year of cash-flow growth for five years.That is faster than the 1.2% a year revenue growth Richardson Electronics has delivered.

Read with care: free cash flow has swung sharply in the past year (often a one-off tax, legal or working-capital item), so the cash-flow base behind this reading may be unusually low or high.

  • Priced in34.5%
  • Last 12 months13.9%
  • 3 years a year-1.2%
  • 5 years a year1.2%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($19.78, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Sell12-month view
12-month price target
~$6.7
Price used
$19.78close November 3, 2026
Implied change
▼ 66%
Uncertainty
Low

How we got here: a discounted-cash-flow model of Richardson Electronics, LTD.'s free cash flow after stock-based pay with after-tax interest added back ($2.3M, FY2027 Q1 TTM), growing 8.5% and 6.8% in the next two years (forecasts, guidance and its record), then back to 6.2% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$5.7–~$7.9 ; that spread sets a 15% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Richardson Electronics, LTD.'s free cash flow after stock-based pay ( $2.3M, FY2027 Q1 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Richardson Electronics, LTD. as an operating company, with every model that fits that kind of business. Cost of equity 9.7%: the 10-year Treasury yield (4.9%) plus a beta of 1.07 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$6.7 ~$5.7–$7.9 Primary model, counts double
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. ~$11 ~$9.0–$14 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$8.9 ~$6.3–$13 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$6.9 ~$6.0–$8.1 Included
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$8.1 ~$6.7–$11 4 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Richardson Electronics, LTD. with Technology Distributors in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −4%
  • Revenue growth 5 points higher ▲ +5%
  • Last year's free-cash-flow margin change, if it persists ▼ −88%
  • Discount rate 1 point higher ▼ −2%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $5$6$7$9$11$14
8.5% $5$5$6$7$9$11
10% $4$5$6$6$8$9

Valuation multiples over time Market data may be delayed

At fiscal year end 2016201720192020202120222023202420252026Now
Share price$3.84$4.66$4.17$3.62$7.72$12.91$16.26$10.69$8.73$16.93$19.50
Market value$50m$60m$46m$40m$86m$153m$204m$133m$107m$215m$250m
+ Net debt (− = net cash)−$60m−$55m−$42m−$31m−$43m−$35m−$25m−$24m−$36m−$32m−$37m
Enterprise value−$10m$5m$4m$9m$43m$117m$179m$109m$71m$183m$213m
Multiples
Price / sales 0.4x0.4x0.3x0.3x0.5x0.7x0.8x0.7x0.5x0.9x1.0x
Price / earnings ————52.0x8.5x9.1xn/m—33.7x29.3x
Price / free cash flow ———n/m———53.7x13.9x—n/m
EV / EBITDA ———5.4x6.8x6.0x6.2x23.4x46.5x17.9x14.8x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

22 /100

Weak moat

How hard Richardson 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

    Cash operating profit has been a median -1.1% of total assets over 10 years.

  • Pricing power 12 / 20

    Gross margin has been a median 32.0%, moving by 1.0 percentage points (standard deviation) across 10 years.

  • Durability 0 / 20

    Operating margin has been a median 1.1%; its worst year was -4.6%.

  • Cash conversion 3 / 20

    Free cash flow was positive in 3 of 10 years, at a median -1.4% of revenue.

  • Discipline 12 / 20

    The diluted share count rose 13.7% over five years; stock-based pay has been a median 0.4% of revenue.

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.

Forecasts and guidance

Next results: January 6, 2027, after the close. Analysts expect revenue of $63m and EPS of $0.15 (range $0.14 to $0.16) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $0.78 +95% $258m +13%
Next $0.94 +21% $281m +9%

Next year's EPS estimate has moved +56.7% in 90 days, across 2 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +100.0% on 90 days ago. In the last 30 days, 1 analyst raised Richardson Electronics, LTD.'s forecast and 0 cut it.

Consensus EPS forecast Richardson Electronics, LTD., last 90 days
$0.20 $0.40 $0.60 $0.80 $1.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $0.39 Current fiscal year, 60 days ago: $0.51 Current fiscal year, 30 days ago: $0.51 Current fiscal year, 7 days ago: $0.51 Current fiscal year, Now: $0.78 $0.78 Next fiscal year, 90 days ago: $0.60 Next fiscal year, 60 days ago: $0.74 Next fiscal year, 30 days ago: $0.74 Next fiscal year, 7 days ago: $0.74 Next fiscal year, Now: $0.94 $0.94

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $0.39$0.60
60 days ago $0.51$0.74
30 days ago $0.51$0.74
7 days ago $0.51$0.74
Now $0.78$0.94

Earnings against estimates

Quarter toEstimateActualSurprise
Aug 2026 $0.09 $0.27 +200.0%
May 2026 $0.07 $0.21 +223.1%
Feb 2026 $0.02 $0.07 +250.0%
Nov 2025 −$0.02 −$0.01 +50.0%

Adjusted EPS as companies report it, against the average analyst estimate.

How our valuation uses these forecasts

Our cash-flow model grows Richardson Electronics, LTD.'s revenue by +8.5% next year and +6.8% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+10.4%, weight 56%) and the company's own record (+6.2%, weight 44%) . How the weights are set.

Analyst recommendations

1 analysts, Oct 2026
Buy1100%
Hold00%
Sell00%

Monthly trend

  1. Oct 202611
  2. Sep 202611

Counts of recommendations published by analysts covering Richardson Electronics, LTD., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
6.5%
of tradable shares
Days to cover
2.41
at average volume
Short interest, 1 month
−19%
to October 15, 2026
Held by institutions
78%
of shares
Held by insiders
3.4%
of shares
Employees
392
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +84.2%

$10.58 on October 31, 2025 to $19.50

ThenNowEffect
Revenue (last 12 months) $210m $239m +13.9%
Net margin 0.1% 3.6% +4157.9%
P/E multiple n/m 29.3x −96.1%
Share count 12m 13m −3.8%

Biggest factor: net margin.

Last 3 years +79.8%

$10.85 on November 3, 2023 to $19.50

ThenNowEffect
Revenue (last 12 months) $248m $239m −3.6%
Net margin 7.0% 3.6% −48.7%
P/E multiple 7.9x 29.3x +269.4%
Share count 13m 13m −1.7%

Biggest factor: p/e multiple.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
RELL+196%+60%−36%+7%−21%+82%
Industry peers (median)+38%−12%+36%−2%−11%+45%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
RELL75%58%50%67%50%64%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
RELL−17%−27%−57%−38%−45%−26%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 3, 2015: 69% from November 25, 2022 to March 14, 2024. Getting back needed a 217% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$9.31 – $21.76
From 52-week high
−10.4%
vs 50-day average
+7.1%
vs 200-day average
+23.5%
Volatility (1 year)
70%
Beta vs S&P 500
2.51

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
6 up, 6 down
typical move ±13.9%
After a week
6 up, 6 down
typical move ±9.5%
After a month
7 up, 5 down
typical move ±9.6%
Results releasedNext dayS&P 500 next day5 days21 days
July 22, 2026 +27.0% −1.3% −2.9% +2.2%
April 8, 2026 +28.7% +3.1% +18.5% +32.6%
January 7, 2026 −10.7% −0.3% −7.0% −1.0%
October 8, 2025 +20.5% +0.3% +18.9% +4.9%
July 23, 2025 +12.7% +0.9% +5.9% +0.2%
April 9, 2025 −11.2% +5.7% −7.5% −2.1%
January 7, 2025 −13.5% −1.0% −10.4% −12.1%
October 9, 2024 +0.7% +0.5% +8.3% +16.7%
July 24, 2024 −0.9% −2.8% +4.1% +1.9%
April 10, 2024 +15.1% −0.3% +5.5% +15.9%
January 10, 2024 −19.9% +0.5% −19.5% −21.9%
October 11, 2023 −5.8% −0.2% −4.9% −3.7%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Richardson Electronics, LTD.’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Cash-secured put

Not offered: rated Sell.

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: no liquid put and call pair for the same expiry.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Richardson Electronics, LTD. in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Richardson Electronics, LTD.
$180M $200M $220M $240M FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 Revenue (TTM), FY24 Q2: $225.9M Revenue (TTM), FY24 Q3: $207.9M Revenue (TTM), FY24 Q4: $196.5M Revenue (TTM), FY25 Q1: $197.6M Revenue (TTM), FY25 Q2: $203M Revenue (TTM), FY25 Q3: $204.4M Revenue (TTM), FY25 Q4: $208.9M Revenue (TTM), FY26 Q1: $209.8M Revenue (TTM), FY26 Q2: $212.6M Revenue (TTM), FY26 Q3: $214.3M Revenue (TTM), FY26 Q4: $228.6M Revenue (TTM), FY27 Q1: $238.9M $238.9M

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY24 Q2 $225.9M
FY24 Q3 $207.9M
FY24 Q4 $196.5M
FY25 Q1 $197.6M
FY25 Q2 $203M
FY25 Q3 $204.4M
FY25 Q4 $208.9M
FY26 Q1 $209.8M
FY26 Q2 $212.6M
FY26 Q3 $214.3M
FY26 Q4 $228.6M
FY27 Q1 $238.9M
Revenue growth, TTM YoY Richardson Electronics, LTD.
-30% -20% -10% 0% 10% 20% FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 Revenue growth, TTM YoY, FY24 Q2: -9.8% Revenue growth, TTM YoY, FY24 Q3: -21.7% Revenue growth, TTM YoY, FY24 Q4: -25.2% Revenue growth, TTM YoY, FY25 Q1: -20.2% Revenue growth, TTM YoY, FY25 Q2: -10.2% Revenue growth, TTM YoY, FY25 Q3: -1.7% Revenue growth, TTM YoY, FY25 Q4: 6.3% Revenue growth, TTM YoY, FY26 Q1: 6.2% Revenue growth, TTM YoY, FY26 Q2: 4.7% Revenue growth, TTM YoY, FY26 Q3: 4.8% Revenue growth, TTM YoY, FY26 Q4: 9.4% Revenue growth, TTM YoY, FY27 Q1: 13.9% 13.9%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY24 Q2 -9.8%
FY24 Q3 -21.7%
FY24 Q4 -25.2%
FY25 Q1 -20.2%
FY25 Q2 -10.2%
FY25 Q3 -1.7%
FY25 Q4 6.3%
FY26 Q1 6.2%
FY26 Q2 4.7%
FY26 Q3 4.8%
FY26 Q4 9.4%
FY27 Q1 13.9%
Operating margin (TTM) Richardson Electronics, LTD.
-2% 0% 2% 4% 6% FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 Operating margin (TTM), FY24 Q2: 3.7% Operating margin (TTM), FY24 Q3: 0.9% Operating margin (TTM), FY24 Q4: 0.2% Operating margin (TTM), FY25 Q1: -0.4% Operating margin (TTM), FY25 Q2: 0.3% Operating margin (TTM), FY25 Q3: -1.6% Operating margin (TTM), FY25 Q4: -1.2% Operating margin (TTM), FY26 Q1: -0.9% Operating margin (TTM), FY26 Q2: -0.5% Operating margin (TTM), FY26 Q3: 1.5% Operating margin (TTM), FY26 Q4: 2.8% Operating margin (TTM), FY27 Q1: 4.4% 4.4%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY24 Q2 3.7%
FY24 Q3 0.9%
FY24 Q4 0.2%
FY25 Q1 -0.4%
FY25 Q2 0.3%
FY25 Q3 -1.6%
FY25 Q4 -1.2%
FY26 Q1 -0.9%
FY26 Q2 -0.5%
FY26 Q3 1.5%
FY26 Q4 2.8%
FY27 Q1 4.4%
FCF margin (TTM) Richardson Electronics, LTD.
-5% 0% 5% 10% FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 FCF margin (TTM), FY24 Q2: -2.9% FCF margin (TTM), FY24 Q3: -1.4% FCF margin (TTM), FY24 Q4: 1.3% FCF margin (TTM), FY25 Q1: 1.1% FCF margin (TTM), FY25 Q2: 3.8% FCF margin (TTM), FY25 Q3: 7.2% FCF margin (TTM), FY25 Q4: 3.7% FCF margin (TTM), FY26 Q1: 4.1% FCF margin (TTM), FY26 Q2: 0.9% FCF margin (TTM), FY26 Q3: -2.6% FCF margin (TTM), FY26 Q4: -1.6% FCF margin (TTM), FY27 Q1: 0.1% 0.1%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY24 Q2 -2.9%
FY24 Q3 -1.4%
FY24 Q4 1.3%
FY25 Q1 1.1%
FY25 Q2 3.8%
FY25 Q3 7.2%
FY25 Q4 3.7%
FY26 Q1 4.1%
FY26 Q2 0.9%
FY26 Q3 -2.6%
FY26 Q4 -1.6%
FY27 Q1 0.1%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2026, from the 10-K

Each dollar Richardson Electronics took in during FY2026, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.

  1. Revenue $229M
  2. Cost of revenue $157M · 68.8%
  3. Gross profit $71.3M · 31.2%
  4. Selling, general and admin $65.7M · 28.8%
  5. Operating income $6.5M · 2.8%
  6. Net income $6.4M · 2.8%

Shares of revenue. Source: Richardson Electronics's 10-K for FY2026, as filed with the SEC.

Financial statements

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

Fiscal year 2010 May 2010 2011 May 2011 2012 Jun 2012 2013 Jun 2013 2014 May 2014 2015 May 2015 2016 May 2016 2017 May 2017 2018 Jun 2018 2019 Jun 2019 2020 May 2020 2021 May 2021 2022 May 2022 2023 May 2023 2024 Jun 2024 2025 May 2025 2026 May 2026 LTM Aug 2026
Income
Revenue 135 159 158 141 138 137 142 137 163 167 156 177 225 263 196 209 229 239
Gross profit 41 46 47 42 41 41 45 44 55 52 50 59 72 84 60 65 71 77
EBITDA 2 5 7 1 −3 −6 −4 −3 7 −4 2 6 19 29 5 2 10 14
Operating income −2 3 6 0 −4 −8 −7 −6 4 −7 −2 3 16 25 0 −2 6 11
Net income 16 88 9 1 −1 −6 −7 −7 4 −7 −2 2 18 22 0 −1 6 9
Diluted EPS — — — — — — — — — — — — — — — — — $0.67
Growth (year on year)
Revenue — +17.4% −0.6% −10.6% −2.2% −0.7% +3.7% −3.6% +19.2% +2.1% −6.5% +13.5% +26.9% +16.9% −25.2% +6.3% +9.4% +13.9%
EBITDA — — +53.2% −85.5% — — — — — −154.4% — — +207.1% +47.9% −83.8% −66.9% — —
Operating income — — — −99.8% — — — — — −286.7% — — — +56.6% −98.6% — — —
Net income — +446.4% −90.3% −85.4% — — — — — −291.7% — — — +24.6% −99.7% — — —
Margins
Gross margin 30.5% 29.0% 29.6% 29.5% 29.7% 30.0% 31.6% 32.1% 33.7% 31.0% 31.9% 33.2% 31.9% 31.9% 30.5% 31.0% 31.2% 32.2%
EBITDA margin 1.6% 3.0% 4.7% 0.8% −2.2% −4.7% −2.9% −2.2% 4.1% −2.2% 1.1% 3.6% 8.6% 10.9% 2.4% 0.7% 4.5% 6.0%
Operating margin −1.4% 1.8% 4.0% 0.0% −3.0% −5.9% −4.6% −4.2% 2.2% −4.1% −1.1% 1.6% 7.1% 9.5% 0.2% −1.2% 2.8% 4.4%
Net margin 11.9% 55.4% 5.4% 0.9% −0.4% −4.1% −4.8% −5.1% 2.3% −4.4% −1.2% 0.9% 8.0% 8.5% 0.0% −0.5% 2.8% 3.6%
Free-cash-flow margin 17.0% 1.0% −31.0% 5.0% 1.3% −10.6% −13.0% −2.5% −1.4% −3.9% 0.1% −1.0% −0.5% −5.9% 1.3% 3.7% −1.6% 0.1%
Cash flow
Cash from operations 24 2 −49 9 5 −10 −14 2 3 −3 2 1 2 −8 7 11 1 5
Capital spending 1 1 0 2 3 5 5 5 5 4 2 3 3 7 4 3 4 5
Free cash flow 23 2 −49 7 2 −15 −18 −3 −2 −6 0 −2 −1 −16 2 8 −4 0
Stock-based pay 1 1 0 1 1 1 1 0 1 1 1 1 1 1 1 2 2 2
Free cash flow after stock pay 22 0 −49 6 1 −15 −19 −4 −3 −7 −1 −2 −2 −17 1 6 −5 −1
Balance sheet
Cash 29 171 44 102 103 75 60 55 60 42 31 43 35 25 24 36 32 37
Total debt 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Net debt (negative = net cash) −29 −171 −44 −102 −103 −75 −60 −55 −60 −42 −31 −43 −35 −25 −24 −36 −32 −37
Diluted shares — — 17m 15m 14m 14m 13m 13m — 11m 11m 11m 12m 13m 12m 12m 13m 13m
Returned to shareholders
Dividends 1 2 3 4 3 3 3 3 3 3 3 3 3 3 3 3 3 3
Buybacks 2 9 24 15 9 4 5 — — — — — — — — — — —
Total returned 4 11 27 19 12 7 8 3 3 3 3 3 3 3 3 3 3 3

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 2 checks passed · August 29, 2026
What it owns · $212m
Short-term assets $180mLonger-term assets $32m
What it owes, and who funded it · $212m
Short-term liabilities $39mLonger-term liabilities $4mShareholders' equity $169m
  • Short-term assets cover short-term liabilities $180m of assets due within a year against $39m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $180m short-term assets against $4m 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 Interest not separately reported. Not assessable.

From Richardson Electronics, LTD.'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.

Dividends, buybacks and capital spending

Dividends (TTM)
$3.5M
Diluted share count
+3.9%
year over year
Total shareholder yield
1.4%
dividends 1.4% + buybacks 0.0% of market value
Dividend payout ratio
41%
of net income paid out
Sales & admin spending
28.1%
of revenue
Days sales outstanding
53 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in technology distributors
Last 12 months unless stated RELL CLMB PN CGTL CNXN SCSC Median
Revenue, last 12 months $239m $771m $63m $21m $3.2bn $3.2bn $5.9bn
Revenue growth, last 12 months 13.9% 24.2% 27.0% −40.6% 9.5% 6.1% 14.4%
Revenue growth, 3-year average −1.2% 32.1% — — 3.0% −5.2% 1.4%
Revenue growth, latest quarter 18.9% 36.5% — — 23.3% 17.3% 22.0%
Gross margin 32.2% 15.5% 10.0% 10.8% 18.6% 13.6% 12.4%
Operating margin 4.4% 4.0% −4.0% −62.2% 4.1% 3.1% 3.2%
Operating margin, 3-year average 1.1% 4.9% — — 3.7% 2.9% 3.0%
Net margin 3.6% 3.1% −4.3% −63.2% 3.3% 2.4% 2.4%
Cash from operations / revenue 2.2% 4.2% 4.5% −22.7% −0.4% 3.8% 2.4%
Free-cash-flow margin 0.1% 3.1% 3.8% −22.7% −0.7% 3.5% 1.3%
Free-cash-flow margin, 3-year average 1.7% 4.5% — — 2.3% 6.0% 2.5%
Stock pay / revenue 0.7% 0.7% — 67.3% 0.3% 0.4% 0.4%
Change in share count 3.9% 1.3% 4.6% 17.8% −2.3% −9.0% −2.0%

Median of all 12 companies we cover in technology distributors. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

12 technology distributors companies
Measure Company Peer median Rank
Revenue growth Growth 13.9% 14.8% 7 of 12
Change in growth rate Growth +4.5pp +4.5pp 7 of 12
Gross margin Profitability 32.2% 13.6% 1 of 12
Operating margin Profitability 4.4% 3.4% 3 of 12
Net margin Profitability 3.6% 2.4% 2 of 12
Free-cash-flow margin Cash generation 0.1% 2.3% 8 of 12
Stock pay as % of revenue Cash generation 0.7% 0.4% 9 of 11
Change in share count Balance sheet 3.9% -1.7% 10 of 12
Days sales outstanding Balance sheet 53 days 91 days 2 of 12

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to May 30, 2026
Segments
Line of business Revenue Share YoY
Power and Microwave Technologies Group $160M 70.2% ▲ 9.1%
Canvys $37.3M 16.3% ▲ 12.4%
Global Energy Solutions $30.8M 13.5% ▲ 7.3%
Geography
Region Revenue Share YoY
North America $98.2M 42.9% ▲ 7.8%
Europe $65.7M 28.7% ▲ 1.1%
Asia Pacific $58M 25.4% ▲ 34.2%
Latin America $6.7M 3.0% ▼ 19.3%
Unallocated Other $0 0.0% ▼ 100.0%

From Richardson Electronics, LTD.'s 10-K filed August 3, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$191M
Institutions reporting
115
Shares held vs prior quarter
▲ 14.5%
Positions opened / closed
21 / 5

Top buyers and sellers, Q2 2026: 69 institutions bought and 31 sold ; the biggest buyer was First Eagle Investment Management, LLC (+290K shares) and the biggest seller Jane Street Group, LLC (−63K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Royce & Associates LP $27.1M 1.4M 14.2% 0.0%
Ddd Partners, LLC $21.1M 1.1M 11.1% ▼ 2.0%
Blackrock, Inc. $18.9M 993K 9.9% ▲ 13.1%
Dimensional Fund Advisors LP $13.5M 708K 7.1% ▼ 1.1%
First Wilshire Securities Management Inc $12.2M 642K 6.4% ▼ 4.4%
Vanguard Capital Management LLC $10.2M 534K 5.3% ▲ 5.1%
Acadian Asset Management LLC $7.3M 387K 3.9% ▲ 74.0%
Geode Capital Management, LLC $6M 315K 3.1% ▲ 6.6%
Renaissance Technologies LLC $6M 313K 3.1% ▼ 8.8%
First Eagle Investment Management, LLC $5.5M 290K 2.9% New
State Street Corp $4.8M 254K 2.5% ▲ 7.3%
Morgan Stanley $4M 209K 2.1% ▲ 15.3%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Richardson Electronics, LTD.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $3.7M 24 trades by 9 insiders · 0% under pre-set plans
Net ▼ $3.7M net selling
Insider Date Trade Shares Price Value
Halverson Kenneth Director October 29, 2026 Sell 1,000 $21.19 $21,190
Ben Robert J CFO, CAO, Corporate Secretary October 28, 2026 Sell 5,000 $21.01 $105,050
Halverson Kenneth Director August 20, 2026 Sell 1,500 $17.47 $26,205
Benham James Director August 19, 2026 Sell 3,020 $17.99 $54,330
Diddell Wendy COO August 4, 2026 Sell 23,901 $20.00 $478,020
Ben Robert J CFO, CAO, Corporate Secretary August 4, 2026 Sell 9,000 $21.61 $194,490
Belin Jacques Director August 4, 2026 Sell 5,000 $21.46 $107,300
Benham James Director August 3, 2026 Sell 9,836 $18.50 $181,966
Halverson Kenneth Director August 3, 2026 Sell 5,000 $18.77 $93,850
Kluge Robert H Director July 30, 2026 Sell 29,000 $17.90 $519,100
Benham James Director July 29, 2026 Sell 164 $19.06 $3,126
Ben Robert J CFO, CAO, Corporate Secretary July 28, 2026 Sell 7,500 $20.00 $150,000

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 4 trades and filings

No trades in Richardson Electronics, LTD. disclosed in the last 12 months; 4 earlier trades on record.

  • Debbie Wasserman Schultz(D-FL 23):Sale (full), $1,001 - $15,000, traded November 22, 2017, filed November 29, 2017
  • Debbie Wasserman Schultz(D-FL 23):Purchase, $1,001 - $15,000, traded February 10, 2017, filed March 20, 2017
  • Debbie Wasserman Schultz(D-FL 23):Purchase, $1,001 - $15,000, traded April 27, 2016, filed July 6, 2016

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around October 7, 2026 estimated from the company's past filing pattern, not announced

  • July 22, 2026
  • April 8, 2026
  • January 7, 2026
  • October 8, 2025
  • July 23, 2025
  • April 9, 2025

Recent SEC filings

Data status

When each part of this page on Richardson Electronics, LTD. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Richardson Electronics, LTD. in brief

What does Richardson Electronics, LTD. do?
Richardson Electronics, LTD. is a US-listed company in the technology distributors industry. Its financial year ends in May.
What is Richardson Electronics, LTD.'s stock ticker?
Richardson Electronics, LTD. trades under the ticker RELL on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Richardson Electronics, LTD.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Richardson Electronics, LTD. reported revenue of $239M, 13.9% higher than a year earlier, according to its SEC filings.
What is Richardson Electronics, LTD.'s free cash flow?
Richardson Electronics, LTD.'s free-cash-flow margin is 0.1% of revenue over the trailing twelve months, ranking 8 of the 12 technology distributors companies we cover.
What is Richardson Electronics, LTD.'s fair value (intrinsic value) per share?
Our discounted-cash-flow model of Richardson Electronics, LTD.'s free cash flow after stock-based pay gives ~$6.7 per share in the base case, and ~$5.7–$7.9 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Richardson Electronics, LTD.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Royce & Associates LP, Ddd Partners, LLC and Blackrock, Inc. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Richardson Electronics, LTD.'s market cap?
On November 2, 2026, Richardson Electronics, LTD.'s market capitalisation was about $250M, with a price-to-earnings ratio of 29.3 and net debt of -$36.9M. Market figures come from third-party market data and may be delayed.
Does Richardson Electronics, LTD. pay a dividend?
Yes: Richardson Electronics, LTD. paid $3.5M in dividends over the trailing twelve months, a dividend yield of 1.36% and a payout ratio of 40.6%.
Who are Richardson Electronics, LTD.'s competitors?
In our Technology Distributors peer group, the companies closest to Richardson Electronics, LTD. are Climb Global Solutions, Inc., PN Smart Energy Ltd, Creative Global Technology Holdings Ltd, PC Connection Inc and Scansource, Inc. The side-by-side comparison below sets their revenue, margins and growth against Richardson Electronics, LTD.'s.
Are insiders buying or selling Richardson Electronics, LTD. stock?
Over the last 12 months, Richardson Electronics, LTD.'s directors and officers reported 0 open-market purchases and 24 sales on Form 4. The insider trading page charts every trade.
When is Richardson Electronics, LTD.'s next earnings date?
Around January 6, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Richardson Electronics, LTD. announces its own schedule.