Tearsheet

Frequency Electronics (FEIM)


Market Price (6/27/2026): $62.99 | Market Cap: $617.1 MilSector: Information Technology | Industry: Communications Equipment

Frequency Electronics (FEIM)


Market Price (6/27/2026): $62.99
Market Cap: $617.1 Mil
Sector: Information Technology
Industry: Communications Equipment

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Megatrend and thematic drivers
Megatrends include 5G & Advanced Connectivity, and Advanced Aviation & Space. Themes include Telecom Infrastructure, and Satellite Communication & Navigation.

Expensive valuation multiples
P/EBITPrice/EBIT or Price/(Operating Income) ratio is 87x, P/EPrice/Earnings or Price/(Net Income) is 85x

Stock price has recently run up significantly
12M Rtn12 month market price return is 173%

Weak revenue growth
Rev Chg QQuarterly Revenue Change % is -11%

Not cash flow generative
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -1.4%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -5.6%

Valuation getting more expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 91%

Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -2.9%

Key risks
FEIM key risks include [1] its heavy customer concentration with the U.S. Show more.

0 Megatrend and thematic drivers
Megatrends include 5G & Advanced Connectivity, and Advanced Aviation & Space. Themes include Telecom Infrastructure, and Satellite Communication & Navigation.
1 Expensive valuation multiples
P/EBITPrice/EBIT or Price/(Operating Income) ratio is 87x, P/EPrice/Earnings or Price/(Net Income) is 85x
2 Stock price has recently run up significantly
12M Rtn12 month market price return is 173%
3 Weak revenue growth
Rev Chg QQuarterly Revenue Change % is -11%
4 Not cash flow generative
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -1.4%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -5.6%
5 Valuation getting more expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 91%
6 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -2.9%
7 Key risks
FEIM key risks include [1] its heavy customer concentration with the U.S. Show more.

FEIM in ETFs

Weight = FEIM's share of each fund

VTI0.00%
ITOT0.00%
IWM0.01%
IWO0.03%
DFAS0.02%
VTWO0.01%
DFAC0.00%
VGT0.00%

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 6/25/2026

Frequency Electronics (FEIM) stock has gained about 25% since 2/28/2026 because of the following key factors:

1. Substantial New Contract Awards and Market Expansion. Frequency Electronics secured multiple significant contracts during the period. This included an approximately $7 million award for compact atomic clocks to support a lunar space mission, announced on March 25, 2026. On March 11, 2026, the company also announced contract awards valued at approximately $45 million. Further bolstering its portfolio, on May 27, 2026, the company announced new contracts totaling approximately $16 million for oscillators and timing systems, notably including a strategic entry into the burgeoning space defense market. This expansion into space defense leverages the company's expertise into new domains and broadens its solution offerings to include algorithms, software, and firmware.

2. Record-High Backlog Providing Revenue Visibility. At the close of its fiscal year on April 30, 2026, Frequency Electronics reported that its backlog exceeded $100 million for the first time in the company's history. This represents a significant increase from approximately $83 million reported at the end of fiscal Q3 2026 (January 31, 2026), indicating robust future revenue streams and improved operational visibility.

Show more
Updated on 6/25/2026

Frequency Electronics (FEIM) stock has gained about 25% since 2/28/2026 because of the following key factors:

1. Substantial New Contract Awards and Market Expansion. Frequency Electronics secured multiple significant contracts during the period. This included an approximately $7 million award for compact atomic clocks to support a lunar space mission, announced on March 25, 2026. On March 11, 2026, the company also announced contract awards valued at approximately $45 million. Further bolstering its portfolio, on May 27, 2026, the company announced new contracts totaling approximately $16 million for oscillators and timing systems, notably including a strategic entry into the burgeoning space defense market. This expansion into space defense leverages the company's expertise into new domains and broadens its solution offerings to include algorithms, software, and firmware.

2. Record-High Backlog Providing Revenue Visibility. At the close of its fiscal year on April 30, 2026, Frequency Electronics reported that its backlog exceeded $100 million for the first time in the company's history. This represents a significant increase from approximately $83 million reported at the end of fiscal Q3 2026 (January 31, 2026), indicating robust future revenue streams and improved operational visibility.

3. Positive Long-Term Revenue Guidance. The company announced and reiterated a three-year revenue target of at least $150 million. This forward-looking guidance, reaffirmed in May 2026, signals management's strong confidence in the company's ability to achieve sustained growth and capitalize on its expanding contract base and market opportunities.

4. Bullish Analyst Sentiment. Wall Street analysts maintained a "Strong Buy" consensus rating for FEIM. As of June 19, 2026, analysts provided a median price target of $75.00, with a range up to $85.00, reflecting optimism about the company's future prospects and potential for continued stock appreciation.

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Stock Movement Drivers

Fundamental Drivers

The 24.5% change in FEIM stock from 2/28/2026 to 6/26/2026 was primarily driven by a 265.2% change in the company's P/E Multiple.
(LTM values as of)22820266262026Change
Stock Price ($)50.2162.5224.5%
Change Contribution By: 
Total Revenues ($ Mil)7068-2.9%
Net Income Margin (%)30.1%10.6%-64.8%
P/E Multiple23.385.1265.2%
Shares Outstanding (Mil)1010-0.4%
Cumulative Contribution24.5%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2026 to 6/26/2026
ReturnCorrelation
FEIM24.5% 
Market (SPY)6.6%47.9%
Sector (XLK)30.7%46.6%

Fundamental Drivers

The 118.3% change in FEIM stock from 11/30/2025 to 6/26/2026 was primarily driven by a 568.8% change in the company's P/E Multiple.
(LTM values as of)113020256262026Change
Stock Price ($)28.6462.52118.3%
Change Contribution By: 
Total Revenues ($ Mil)6968-1.1%
Net Income Margin (%)31.9%10.6%-66.8%
P/E Multiple12.785.1568.8%
Shares Outstanding (Mil)1010-0.8%
Cumulative Contribution118.3%

LTM = Last Twelve Months as of date shown

Market Drivers

11/30/2025 to 6/26/2026
ReturnCorrelation
FEIM118.3% 
Market (SPY)7.3%38.1%
Sector (XLK)26.9%36.9%

Fundamental Drivers

The 224.9% change in FEIM stock from 5/31/2025 to 6/26/2026 was primarily driven by a 961.2% change in the company's P/E Multiple.
(LTM values as of)53120256262026Change
Stock Price ($)19.2462.52224.9%
Change Contribution By: 
Total Revenues ($ Mil)65683.7%
Net Income Margin (%)35.3%10.6%-70.0%
P/E Multiple8.085.1961.2%
Shares Outstanding (Mil)1010-1.7%
Cumulative Contribution224.9%

LTM = Last Twelve Months as of date shown

Market Drivers

5/31/2025 to 6/26/2026
ReturnCorrelation
FEIM224.9% 
Market (SPY)25.1%37.8%
Sector (XLK)57.8%36.4%

Fundamental Drivers

The 933.9% change in FEIM stock from 5/31/2023 to 6/26/2026 was primarily driven by a 506.0% change in the company's P/S Multiple.
(LTM values as of)53120236262026Change
Stock Price ($)6.0562.52933.9%
Change Contribution By: 
Total Revenues ($ Mil)386878.8%
P/S Multiple1.59.0506.0%
Shares Outstanding (Mil)910-4.6%
Cumulative Contribution933.9%

LTM = Last Twelve Months as of date shown

Market Drivers

5/31/2023 to 6/26/2026
ReturnCorrelation
FEIM933.9% 
Market (SPY)81.3%27.6%
Sector (XLK)125.1%27.7%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
FEIM Return-9%-29%81%83%191%16%619%
Peers Return49%-18%5%-11%78%71%248%
S&P 500 Return27%-19%24%23%16%7%96%

Monthly Win Rates [3]
FEIM Win Rate33%25%75%67%67%33% 
Peers Win Rate63%45%57%43%53%63% 
S&P 500 Win Rate75%42%67%75%67%50% 

Max Drawdowns [4]
FEIM Max Drawdown-28%-50%-10%-21%-32%-33% 
Peers Max Drawdown-31%-41%-41%-44%-39%-26% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: MCHP, SITM, LHX, VSAT, IRDM.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 6/26/2026 (YTD)

How Low Can It Go

EventFEIMS&P 500
2025 US Tariff Shock
  % Loss-17.4%-18.8%
  % Gain to Breakeven21.1%23.1%
  Time to Breakeven9 days79 days
2022 Inflation Shock & Fed Tightening
  % Loss-47.2%-24.5%
  % Gain to Breakeven89.3%32.4%
  Time to Breakeven393 days427 days
2020 COVID-19 Crash
  % Loss-37.5%-33.7%
  % Gain to Breakeven60.0%50.9%
  Time to Breakeven32 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-10.9%-19.2%
  % Gain to Breakeven12.3%23.8%
  Time to Breakeven19 days105 days
2016-2017 Trump Reflation Bond Selloff
  % Loss-11.4%-3.7%
  % Gain to Breakeven12.8%3.9%
  Time to Breakeven27 days6 days
2015-2016 China Devaluation / Global Growth Scare
  % Loss-19.4%-12.2%
  % Gain to Breakeven24.0%13.9%
  Time to Breakeven50 days62 days

Compare to MCHP, SITM, LHX, VSAT, IRDM

In The Past

Frequency Electronics's stock fell -17.4% during the 2025 US Tariff Shock. Such a loss loss requires a 21.1% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventFEIMS&P 500
2022 Inflation Shock & Fed Tightening
  % Loss-47.2%-24.5%
  % Gain to Breakeven89.3%32.4%
  Time to Breakeven393 days427 days
2020 COVID-19 Crash
  % Loss-37.5%-33.7%
  % Gain to Breakeven60.0%50.9%
  Time to Breakeven32 days140 days
2014-2016 Oil Price Collapse
  % Loss-24.3%-6.8%
  % Gain to Breakeven32.2%7.3%
  Time to Breakeven1012 days15 days
2011 US Debt Ceiling Crisis & European Contagion
  % Loss-24.5%-17.9%
  % Gain to Breakeven32.5%21.8%
  Time to Breakeven609 days123 days
2010 Eurozone Sovereign Debt Crisis / Flash Crash
  % Loss-21.8%-15.4%
  % Gain to Breakeven27.8%18.2%
  Time to Breakeven68 days125 days
2008-2009 Global Financial Crisis
  % Loss-77.3%-53.4%
  % Gain to Breakeven339.8%114.4%
  Time to Breakeven846 days1085 days

Compare to MCHP, SITM, LHX, VSAT, IRDM

In The Past

Frequency Electronics's stock fell -17.4% during the 2025 US Tariff Shock. Such a loss loss requires a 21.1% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Frequency Electronics (FEIM)

Frequency Electronics, Inc. (FEIM) specializes in designing, developing, and manufacturing highly accurate time and frequency control products, along with components for microwave integrated circuit applications. The company operates through two main segments: FEI-NY and FEI-Zyfer, each contributing to its core expertise in precision timing and frequency generation.

The FEI-NY segment provides precision time, frequency generation, and synchronization products and subsystems crucial for communication satellites and terrestrial telecommunication stations, including those used by the US military. Complementing this, the FEI-Zyfer segment focuses on precision navigation and timing solutions, largely integrating Global Positioning System (GPS) technologies into critical systems. These products find application across radar systems, airborne intelligence platforms, information networks, military command and control terminals, and satellite ground stations.

FEIM's advanced products are vital for a diverse clientele spanning commercial, government, and satellite sectors. A significant portion of its business involves providing solutions for the United States government, supporting various land, sea, and air-borne platforms in areas like secure communications, command and control, intelligence, reconnaissance, and electronic warfare. The company markets its products directly and through sales representatives in the United States, Europe, and Asia.

AI Analysis | Feedback

Here are 1-3 brief analogies for Frequency Electronics (FEIM):

  • It's like the Analog Devices of ultra-precise time and frequency components for space and defense systems.
  • It's like the Intel of precision timing, providing the 'internal clock' and synchronization for satellites, defense systems, and advanced communication networks.
  • It's like the ASML Holdings of precision timing, providing foundational and indispensable technology for high-stakes applications in space, defense, and telecom.

AI Analysis | Feedback

  • Precision Time and Frequency Control Products: These products and components provide highly accurate timing and stable frequency outputs essential for microwave integrated circuit applications.
  • Frequency Generation and Synchronization Subsystems: Specialized systems designed to generate precise frequencies and synchronize timing for use in communication satellites and ground-based telecommunication stations.
  • Precision Navigation and Timing (PNT) Products: Systems that integrate Global Positioning System (GPS) technologies to deliver highly accurate positioning, navigation, and timing data for diverse platforms and networks.

AI Analysis | Feedback

Major Customers of Frequency Electronics (FEIM)

Frequency Electronics primarily serves government entities and other companies, rather than individuals. Based on the provided description, its major customers and customer categories include:
  • The United States Government and its Military Branches: This is a significant direct customer, utilizing FEIM's products for a wide range of applications. These include components and systems for the United States military, secure communications, command, control, communication, computer, intelligence, security and reconnaissance (C4ISR), and electronic warfare applications on land, sea, and air-borne platforms. They also use FEIM's products in radar systems, airborne SIGINT/COMINT platforms, military command and control terminals, and satellite ground stations.
  • Aerospace and Defense Contractors: These companies incorporate FEIM's precision time and frequency products into commercial and government satellite payload systems, as well as various military platforms. While specific public company names are not provided in the background, these contractors are key intermediaries for the company's products.
  • Telecommunication Companies and Infrastructure Providers: FEIM supplies precision time, frequency generation, and synchronization products and subsystems used in communication satellites and terrestrial cellular telephone or other ground-based telecommunication stations. These customers would include companies involved in satellite communication and ground-based telecom infrastructure.

AI Analysis | Feedback

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AI Analysis | Feedback

Thomas McClelland, President & Chief Executive Officer

Thomas McClelland joined Frequency Electronics as an engineer in 1984. He was elected Vice President, Commercial Products in March 1999, and his title was later modified to Vice President Advanced Development in fiscal year 2011 to reflect his expanded role. In January 2020, he became Senior Vice President and Chief Scientist. Dr. McClelland was appointed Interim President and Chief Executive Officer on July 8, 2022, and the "interim" title was removed on January 17, 2023, making him the permanent President and Chief Executive Officer. He holds a PhD in physics from Columbia University. His background does not indicate founding or managing other companies, selling companies, or a pattern of managing companies backed by private equity firms.


Steven Bernstein, Chief Financial Officer

Steven L. Bernstein joined Frequency Electronics in 2010 as Controller and was appointed Chief Financial Officer in 2016. He is a Certified Public Accountant with over 15 years of experience in financial reporting, budgeting, internal controls, risk management, and auditing. Prior to joining the company, Mr. Bernstein worked in the North America accounting group of a Fortune 500 electronics distributor. He graduated with honors from Queens College, City University of New York, with a dual major in Accounting and Economics. His background does not indicate founding or managing other companies, selling companies, or a pattern of managing companies backed by private equity firms.


Oleandro Mancini, Sr. Vice President, Business Development

Oleandro Mancini joined Frequency Electronics in 2000 and serves as Sr. Vice President of Business Development. Before joining FEI, Mr. Mancini served as Vice President of Sales and Marketing at Satellite Transmission Systems, Inc. He also held positions as Vice President of Business Development and previously Vice President, Engineering at Cardion, Inc., a Siemens A.G. company.

AI Analysis | Feedback

The key risks for Frequency Electronics (FEIM) primarily stem from its significant reliance on government contracts, which leads to operational and financial volatility, and its position as a smaller player in a highly competitive market.

1. Concentration Risk on U.S. Government Contracts

Frequency Electronics faces substantial concentration risk due to its heavy reliance on a single customer: the U.S. government. In fiscal year 2025, an overwhelming 94% of the company's total sales were derived from U.S. government contracts. This near-total dependence dictates a significant portion of the company's risk profile. Any changes in government funding, administrative delays, or shifts in priorities could severely impact the company's revenue and financial stability.

2. Operational and Financial Volatility from "Lumpy" Revenue

Directly linked to its government contracting model, Frequency Electronics experiences considerable operational and financial volatility, often resulting in "lumpy" quarterly results. The non-linear nature of contract awards and customer milestones means that revenue recognition can fluctuate significantly from one quarter to the next. For instance, the company reported a sharp drop in Q1 Fiscal Year 2026 revenue compared to Q4 FY2025, attributed to customer-driven delays and some work being pulled forward into prior quarters. While not necessarily indicating contract cancellations, these revenue fluctuations can create cash flow and perception risks, leading to considerable stock volatility.

3. Intense Competition and Lack of Scale

Frequency Electronics operates in a "very competitive and rapidly changing environment" within the high-precision timing and frequency products market. The company is a specialized player competing against much larger corporate entities such as Microchip Technology and L3Harris Technologies. These larger competitors possess significant advantages, including greater purchasing power for raw materials, more extensive research and development (R&D) budgets, and broader global sales and support networks. This lack of scale makes it challenging for FEIM to compete on price and leaves it vulnerable to larger players aggressively targeting its niche markets. The company also encounters difficulties with cost and competition in developing low-cost precision timing technology for satellite applications.

AI Analysis | Feedback

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AI Analysis | Feedback

Frequency Electronics, Inc. (FEIM) operates in several addressable markets related to precision time, frequency control, navigation, and timing products.

Precision Time and Frequency Control Products

For its FEI-NY segment, which designs, develops, manufactures, and sells precision time, frequency generation, and synchronization products and subsystems used in communication satellites, terrestrial cellular telephone, or other ground-based telecommunication stations, the relevant market sizes are:

  • The global frequency control and timing devices market was valued at approximately USD 6.41 billion in 2025 and is projected to reach USD 9.63 billion by 2031. Another estimate indicates the global market size at USD 4.9 billion in 2025, growing to USD 10.5 billion by 2035.
  • The U.S. frequency control and timing device market is expected to reach USD 1,405.81 million by 2035.
  • The global satellite time synchronization service market reached USD 1.78 billion in 2024 and is anticipated to grow to USD 3.69 billion by 2033. North America constituted the largest regional market for these services, valued at approximately USD 676 million in 2024.

Precision Navigation and Timing Products (incorporating GPS technologies)

For its FEI-Zyfer segment, which designs, develops, and manufactures products for precision navigation and timing primarily incorporating global positioning system (GPS) technologies for radar systems, airborne SIGINT/COMINT platforms, information networks, test equipment, military command and control terminals, and satellite ground stations, the addressable markets include:

  • The global position, navigation, and timing (PNT) solution market was valued at USD 611.08 million in 2024 and is estimated to reach USD 7,234.36 million by 2033. North America currently dominates this market.
  • The global assured positioning, navigation, and timing (PNT) market was valued at USD 0.87 billion in 2025 and is projected to grow to USD 8.41 billion by 2034. Another report estimates the global assured PNT market at USD 846 million in 2025, with a projection to reach USD 10.2 billion by 2035. North America held a significant share, about 35%, of the global assured PNT market in 2025. The U.S. assured PNT market was valued at USD 278.8 million in 2025.
  • The global GPS timing server market was valued at USD 343 million in 2025 and is anticipated to reach USD 512 million by 2032.

AI Analysis | Feedback

Here are 3-5 expected drivers of future revenue growth for Frequency Electronics (FEIM) over the next 2-3 years:

  1. Record Backlog and New Contract Awards: Frequency Electronics has achieved a record funded backlog, which reached approximately $83 million at the end of January 2026, with expectations to surpass $100 million in the near future. The company recently announced two significant contract awards valued at approximately $45 million, one in traditional space satellite programs and another in the emerging proliferated satellite paradigm. These substantial new contracts are anticipated to drive near-term backlog and support sustained revenue expansion.
  2. Expansion into the Proliferated Satellite Market: The company is actively expanding its presence in the proliferated satellite market, a sector characterized by a growing number of smaller satellites used for enhanced global communications and surveillance capabilities. This represents a significant new and growing end market for Frequency Electronics.
  3. Investment in Alternative Position, Navigation, and Timing (ALT-PNT) Systems: Frequency Electronics is investing in and pursuing growth opportunities in alternative position, navigation, and timing (ALT-PNT) solutions. There is increasing demand for these systems, particularly due to the prevalence of GPS jamming in conflict zones.
  4. Growth in Quantum Sensing Technologies: The company is focusing on additional growth opportunities in quantum sensing, including magnetometers, and has already secured new business in this area during the current fiscal year.
  5. Increased Defense Programs and U.S. Government Contracts: Frequency Electronics expects continued strength and growth in its defense sector business. Revenue from non-space U.S. government and Department of Defense customers has surged, and the company is involved in numerous defense programs that are anticipated to expand with increased government deployment.

AI Analysis | Feedback

Share Repurchases

  • Frequency Electronics, Inc. announced a $20 million share repurchase authorization in September 2025, concurrent with its first-quarter fiscal year 2026 financial results.
  • This authorization is seen as a signal of management's confidence in the company's financial health and a commitment to returning value to shareholders.
  • The $20 million buyback represented approximately 7% of the company's market capitalization at the time of approval, suggesting management considered the stock undervalued.

Capital Expenditures

  • Frequency Electronics is investing in new initiatives and facilities.
  • The company opened a new engineering facility in Boulder, Colorado, to support ongoing programs and new technology initiatives, anticipating a positive impact on the bottom line by the third quarter of fiscal year 2026.
  • Investments are focused on quantum sensing and high-tech, sole-sourced defense programs, indicating capital allocation towards innovation and strategic market areas.

Better Bets vs. Frequency Electronics (FEIM)

Latest Trefis Analyses

Title
0ARTICLES

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

FEIMMCHPSITMLHXVSATIRDMMedian
NameFrequenc.Microchi.SiTime L3Harris.Viasat Iridium . 
Mkt Price62.5287.93672.19291.2561.9543.5275.23
Mkt Cap0.647.617.754.48.44.613.1
Rev LTM684,71338022,4774,6168762,746
Op Inc LTM7530-392,233-45226116
FCF LTM-4871542,589624305464
FCF 3Y Avg01,41782,002-221281145
CFO LTM-19621033,0531,566411686
CFO 3Y Avg21,584462,439971365668

Growth & Margins

FEIMMCHPSITMLHXVSATIRDMMedian
NameFrequenc.Microchi.SiTime L3Harris.Viasat Iridium . 
Rev Chg LTM3.7%7.1%65.2%5.8%2.1%4.1%4.9%
Rev Chg 3Y Avg22.2%-14.9%28.7%8.9%24.4%4.9%15.6%
Rev Chg Q-10.8%35.1%88.3%11.9%3.0%1.9%7.4%
QoQ Delta Rev Chg LTM-2.9%7.8%16.3%2.8%0.7%0.5%1.8%
Op Inc Chg LTM-39.5%41.1%61.1%3.8%-179.6%7.3%5.5%
Op Inc Chg 3Y Avg120.7%-20.7%-244.7%7.1%-234.5%45.5%-6.8%
Op Mgn LTM9.8%11.2%-10.2%9.9%-1.0%25.8%9.9%
Op Mgn 3Y Avg10.7%17.8%-44.0%9.7%-8.4%21.5%10.2%
QoQ Delta Op Mgn LTM-2.9%4.9%8.3%0.1%0.1%-1.2%0.1%
CFO/Rev LTM-1.4%20.4%27.2%13.6%33.9%46.9%23.8%
CFO/Rev 3Y Avg3.0%26.2%13.8%11.4%22.0%43.5%17.9%
FCF/Rev LTM-5.6%18.5%14.2%11.5%13.5%34.8%13.8%
FCF/Rev 3Y Avg0.1%23.4%-0.9%9.3%-6.3%33.6%4.7%

Valuation

FEIMMCHPSITMLHXVSATIRDMMedian
NameFrequenc.Microchi.SiTime L3Harris.Viasat Iridium . 
Mkt Cap0.647.617.754.48.44.613.1
P/S9.010.146.62.41.85.37.1
P/Op Inc92.489.9-458.924.4-186.720.322.4
P/EBIT86.797.4-458.920.656.120.538.3
P/E85.1207.1-730.431.4-24.843.637.5
P/CFO-655.849.5171.417.85.411.214.5
Total Yield1.2%2.5%-0.1%4.9%-4.0%3.7%1.9%
Dividend Yield0.0%2.1%0.0%1.7%0.0%1.4%0.7%
FCF Yield 3Y Avg0.5%3.6%-0.2%4.2%-14.5%9.3%2.0%
D/E0.00.10.00.20.80.40.2
Net D/E0.00.1-0.00.20.60.40.2

Returns

FEIMMCHPSITMLHXVSATIRDMMedian
NameFrequenc.Microchi.SiTime L3Harris.Viasat Iridium . 
1M Rtn-12.1%-9.2%-7.4%-5.4%-27.6%-15.0%-10.7%
3M Rtn44.0%42.5%105.4%-14.7%33.0%56.1%43.2%
6M Rtn11.1%36.9%78.2%-1.1%78.0%155.2%57.4%
12M Rtn173.4%27.6%221.6%19.9%331.4%51.3%112.3%
3Y Rtn941.9%9.2%456.1%59.6%52.8%-24.3%56.2%
1M Excs Rtn-9.9%-7.0%-5.2%-3.2%-25.4%-12.8%-8.4%
3M Excs Rtn26.4%24.1%87.3%-29.8%16.0%40.7%25.3%
6M Excs Rtn10.5%29.6%69.6%-7.9%66.2%143.3%47.9%
12M Excs Rtn158.1%5.4%209.2%-1.3%309.5%34.3%96.2%
3Y Excs Rtn854.5%-54.2%402.2%-11.1%-14.2%-93.2%-12.6%

Comparison Analyses

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Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
FEI-NY5340324142
FEI-Zyfer191810814
Intersegment revenues-2-3-1-1-2
Total7055414854


Operating Income by Segment
$ Mil20252024202320222021
FEI-NY122-4-6-1
FEI-Zyfer13-0-21
Intersegment revenues0-000-0
Corporate-1-1-0-0-0
Total125-5-8-1


Assets by Segment
$ Mil20252024202320222021
FEI-NY3937394235
Corporate3131253338
FEI-Zyfer2416111113
Intersegment balances-0 -0-0 
Intersegment revenues -0   
Total9483748686


Price Behavior

Price Behavior
Market Price$62.52 
Market Cap ($ Bil)0.6 
First Trading Date09/01/1983 
Distance from 52W High-19.0% 
   50 Days200 Days
DMA Price$62.95$48.05
DMA Trendupup
Distance from DMA-0.7%30.1%
 3M1YR
Volatility84.1%86.2%
Downside Capture390.83359.84
Upside Capture332.03407.42
Correlation (SPY)40.3%39.6%
FEIM Betas & Captures as of 5/31/2026

 1M2M3M6M1Y3Y
Beta4.862.252.782.572.591.15
Up Beta-2.23-1.64-1.06-0.010.700.78
Down Beta3.713.944.172.651.680.71
Up Capture1008%576%638%1023%2055%1535%
Bmk +ve Days13283667141432
Stock +ve Days15253569135367
Down Capture630%534%315%215%195%107%
Bmk -ve Days7132757109318
Stock -ve Days5162855114363

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with FEIM
FEIM184.1%86.1%1.59-
Sector ETF (XLK)46.1%23.5%1.5537.5%
Equity (SPY)21.2%12.4%1.2639.4%
Gold (GLD)21.8%27.7%0.7021.5%
Commodities (DBC)21.8%18.6%0.92-8.6%
Real Estate (VNQ)16.1%13.6%0.8512.0%
Bitcoin (BTCUSD)-44.7%42.5%-1.2727.5%

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Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with FEIM
FEIM54.9%58.1%0.98-
Sector ETF (XLK)21.5%25.3%0.7521.7%
Equity (SPY)13.4%17.1%0.6121.3%
Gold (GLD)17.8%18.3%0.7912.9%
Commodities (DBC)7.4%19.5%0.28-2.7%
Real Estate (VNQ)3.4%18.9%0.0811.2%
Bitcoin (BTCUSD)10.7%54.0%0.3910.9%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with FEIM
FEIM23.7%51.0%0.61-
Sector ETF (XLK)25.0%24.7%0.9119.8%
Equity (SPY)15.2%18.0%0.7220.0%
Gold (GLD)11.8%16.1%0.608.6%
Commodities (DBC)5.9%18.0%0.262.0%
Real Estate (VNQ)5.6%20.7%0.2313.9%
Bitcoin (BTCUSD)54.6%66.4%0.957.1%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date6152026
Short Interest: Shares Quantity0.8 Mil
Short Interest: % Change Since 53120263.3%
Average Daily Volume0.2 Mil
Days-to-Cover Short Interest5.1 days
Basic Shares Quantity9.8 Mil
Short % of Basic Shares8.1%

Earnings Returns History

Updated 6/12/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
3/11/2026-15.7%-23.2%-0.9%
12/11/202528.8%24.3%67.2%
9/11/2025-21.0%-10.3%3.4%
7/10/2025-13.4%-10.1%30.3%
3/13/202513.8%21.9%17.5%
12/10/202430.6%42.5%28.6%
7/22/202435.9%38.6%38.8%
3/14/2024-10.2%-1.7%-10.2%
...
SUMMARY STATS   
# Positive131313
# Negative101010
Median Positive8.5%6.1%9.1%
Median Negative-10.8%-7.8%-5.7%
Max Positive35.9%42.5%67.2%
Max Negative-21.0%-23.2%-16.2%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
3/11/2026-15.7%-23.2%-0.9%
12/11/202528.8%24.3%67.2%
9/11/2025-21.0%-10.3%3.4%
7/10/2025-13.4%-10.1%30.3%
3/13/202513.8%21.9%17.5%
12/10/202430.6%42.5%28.6%
7/22/202435.9%38.6%38.8%
3/14/2024-10.2%-1.7%-10.2%
12/12/2023-3.4%-4.1%2.2%
9/14/20238.5%6.1%9.0%
7/13/202310.3%10.3%8.0%
3/9/20233.3%5.1%-0.2%
12/20/202213.0%19.2%24.8%
9/13/2022-9.8%0.5%-16.2%
7/13/2022-14.3%-14.3%-8.0%
3/10/2022-5.8%-5.5%-4.9%
12/9/20210.8%-3.0%-6.5%
9/13/2021-11.5%-11.6%-7.7%
6/29/20213.2%3.1%5.8%
3/11/2021-0.4%-0.3%-2.6%
12/10/20206.9%5.8%9.1%
9/10/20200.7%1.2%-1.9%
7/16/20204.2%5.1%7.1%
SUMMARY STATS   
# Positive131313
# Negative101010
Median Positive8.5%6.1%9.1%
Median Negative-10.8%-7.8%-5.7%
Max Positive35.9%42.5%67.2%
Max Negative-21.0%-23.2%-16.2%

SEC Filings

Expand for More
Report DateFiling DateFiling
01/31/202603/17/202610-Q
10/31/202512/15/202510-Q
07/31/202509/15/202510-Q
04/30/202507/18/202510-K
01/31/202503/17/202510-Q
10/31/202412/16/202410-Q
07/31/202409/13/202410-Q
04/30/202408/02/202410-K
01/31/202403/18/202410-Q
10/31/202312/15/202310-Q
07/31/202309/14/202310-Q
04/30/202307/27/202310-K
01/31/202303/17/202310-Q
10/31/202212/20/202210-Q
07/31/202209/14/202210-Q
04/30/202207/14/202210-K
Collapse to Preview
Report DateFiling DateFiling
01/31/202603/17/202610-Q
10/31/202512/15/202510-Q
07/31/202509/15/202510-Q
04/30/202507/18/202510-K
01/31/202503/17/202510-Q
10/31/202412/16/202410-Q
07/31/202409/13/202410-Q
04/30/202408/02/202410-K
01/31/202403/18/202410-Q
10/31/202312/15/202310-Q
07/31/202309/14/202310-Q
04/30/202307/27/202310-K
01/31/202303/17/202310-Q
10/31/202212/20/202210-Q
07/31/202209/14/202210-Q
04/30/202207/14/202210-K
01/31/202203/15/202210-Q
10/31/202112/14/202110-Q
07/31/202109/14/202110-Q
04/30/202106/30/202110-K
01/31/202103/12/202110-Q
10/31/202012/11/202010-Q
07/31/202009/14/202010-Q
04/30/202007/29/202010-K
01/31/202003/16/202010-Q
10/31/201912/16/201910-Q
07/31/201909/16/201910-Q
04/30/201907/26/201910-K
Core Cache Last Updated: 6/26/2026