Frequency Electronics, Inc.
- Open
- 59.52
- Day high
- 60.92
- Day low
- 57.53
- Prev close
- 60.46
- Volume
- 351K
- Mkt cap
- $673M
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 11.9
- P/S
- 10.7
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$37.5M over the last 3 months (0 open-market buys, 2 sales)
- 🏛Institutions reducing (13F)
Frequency Electronics, Inc. (FEIM) is a Technology company listed on NASDAQ. The stock is up 81% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 2 sales (SEC Form 4). Drillr has 1 published research article covering FEIM.
Frequency Electronics, Inc. (FEIM) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
FEIM earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Mar 11, 2026 | $0.30 | $0.16 | -47.3% | $17M | -12.1% |
| Dec 11, 2025 | $0.30 | $0.18 | -41.0% | $17M | -10.1% |
| Sep 11, 2025 | $0.44 | $0.07 | -84.2% | $14M | -19.7% |
| Mar 13, 2025 | — | $1.60 | — | $19M | — |
| Dec 10, 2024 | — | $0.28 | — | $16M | — |
| Sep 10, 2024 | — | $0.25 | — | $15M | — |
| Mar 14, 2024 | — | $0.01 | — | $14M | — |
| Dec 12, 2023 | — | $0.08 | — | $14M | — |
| Sep 14, 2023 | — | $0.22 | — | $12M | — |
| Mar 9, 2023 | — | $-0.03 | — | $11M | — |
| Dec 20, 2022 | — | $-0.25 | — | $9M | — |
| Sep 13, 2022 | — | $-0.33 | — | $8M | — |
FEIM insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Aug 4, 2026 | Bernstein Steven Lawrenceofficer: CFO | Tax | 9,022 | $57.97 |
| Jul 30, 2026 | Edenbrook Capital, LLCdirector, 10 percent owner: | Sell | 97,826 | $57.50 |
| Jul 30, 2026 | Edenbrook Capital, LLCdirector, 10 percent owner: | Sell | 554,348 | $57.50 |
| Apr 25, 2025 | MCCLELLAND THOMASofficer: President and CEO | Tax | 5,875 | $18.03 |
| Apr 25, 2025 | MCCLELLAND THOMASofficer: President and CEO | Option | 8,000 | $13.24 |
| Apr 25, 2025 | MANCINI OLEANDROofficer: Sr. VP Business Development | Tax | 7,344 | $18.03 |
| Apr 25, 2025 | MANCINI OLEANDROofficer: Sr. VP Business Development | Option | 10,000 | $13.24 |
| Apr 22, 2025 | SCHWARTZ RICHARDdirector | Option | 10,000 | $13.24 |
| Apr 22, 2025 | SCHWARTZ RICHARDdirector | Tax | 7,663 | $17.28 |
| Mar 28, 2025 | Sarachek Russell Mdirector | Buy | 1,963 | $15.78 |
| Mar 28, 2025 | Sarachek Russell Mdirector | Buy | 198 | $15.70 |
| Mar 19, 2025 | Sarachek Russell Mdirector | Buy | 1,582 | $15.62 |
| Nov 4, 2024 | MCCLELLAND THOMASofficer: President and CEO | Tax | 184 | $12.67 |
| Nov 4, 2024 | Sarachek Russell Mdirector | Grant | 26,808 | — |
| Nov 4, 2024 | Sarachek Russell Mdirector | Tax | 2,805 | $12.62 |
Source: FEIM SEC Form 4 filings, latest Aug 4, 2026. For informational purposes only — not investment advice.
See the full FEIM insider & 13F page →Frequency Electronics, Inc. company profile
Overview
Frequency Electronics, Inc. (NASDAQ:FEIM) is a specialized manufacturer of precision timing and frequency control systems founded in 1961 and headquartered in Mitchel Field, New York. The company went public in 1980 and has operated for over six decades as a niche provider of highly specialized electronic components primarily serving the aerospace, defense, and satellite communications markets. FEIM designs and manufactures critical timing systems that enable precise synchronization in satellites, military communications equipment, and navigation systems, positioning itself as a key supplier to both commercial satellite operators and the U.S. government's space and defense programs.
Business
Frequency Electronics operates in the highly specialized field of precision timing and frequency control systems, which are essential components that ensure accurate timekeeping and signal synchronization in complex electronic systems. The company's products are built around atomic clock technology and crystal oscillators that provide extremely stable frequency references - think of them as ultra-precise metronomes that keep electronic systems perfectly synchronized. The company operates through two main business segments. The FEI-NY segment focuses on precision time and frequency generation products used in communication satellites, terrestrial cellular networks, and military systems. This segment represents the majority of the company's revenue, estimated at approximately 60-70% based on recent earnings. The FEI-Zyfer segment specializes in GPS-based navigation and timing products, incorporating Global Positioning System technologies into radar systems, military command terminals, and satellite ground stations, accounting for the remaining 30-40% of revenue. The company's core products include atomic clocks, crystal oscillators, frequency synthesizers, and timing distribution systems. These components are critical for applications where even microsecond timing errors can cause system failures - such as in satellite communications where signals must be precisely coordinated across vast distances, or in military radar systems where accurate timing is essential for target detection and tracking. FEIM's products are designed to operate in harsh environments including space radiation, extreme temperatures, and high-vibration conditions that would destroy conventional timing devices.
Revenue model
Frequency Electronics generates revenue primarily through product sales of specialized timing and frequency control systems, operating on a project-based business model typical of aerospace and defense contractors. The company's paying customers are predominantly U.S. government agencies including the Department of Defense, Space Development Agency, and NASA, along with commercial satellite operators and defense contractors who integrate FEIM's components into larger systems. Recent earnings show that approximately 58% of revenue comes from commercial and U.S. government satellite programs, while 39% derives from non-space government and DoD customers, with the remaining 3% from other commercial and industrial applications. The company typically works on long-term contracts with substantial lead times, often requiring custom engineering and extensive testing phases before delivery. Several factors significantly impact FEIM's margins. Positive margin drivers include the company's specialized expertise in radiation-hardened space components, which commands premium pricing due to limited competition and high barriers to entry. The shift toward proliferated satellite constellations requiring multiple units also presents volume opportunities. Negative margin pressures come from supply chain disruptions affecting specialized components, the need for extensive R&D investment to stay technologically current, and the cyclical nature of government defense spending. Additionally, the company faces pressure to develop lower-cost solutions for emerging small satellite markets while maintaining the high reliability standards required for space applications. Engineering talent shortages in the specialized field of atomic clock technology also drive up labor costs, while the long development cycles typical in aerospace applications create cash flow timing challenges.
Risks & safety
FEIM presents a moderate margin of safety with strong balance sheet fundamentals but some operational volatility concerns. • Debt and Solvency: Company is debt-free with strong working capital of $27 million and current ratio of 2.19, providing substantial financial flexibility • Cash Position: $5.5 million in cash and short-term investments as of Q3 2025, though this has declined from $18.3 million in prior year • Cash Flow: Recent negative operating cash flow of -$3.6 million in Q3 2025 raises some concern, though this follows positive cash generation in prior quarters • Valuation Metrics: Trading at extremely low P/E ratio of 2.6x due to exceptional Q3 earnings, though normalized P/E likely much higher; EV/EBITDA of 11.1x appears reasonable for specialized technology company • Backlog: Strong fully-funded backlog of $73 million provides revenue visibility, representing approximately 1.5 years of current revenue run rate • Other Considerations: Dependence on government contracts creates some revenue lumpiness, but diversified customer base and essential nature of products provide stability
Recent development
Over the past few years, Frequency Electronics has undergone significant strategic evolution focused on emerging space technologies and quantum sensing applications. The company has pivoted toward the rapidly growing proliferated satellite market, working closely with the Space Development Agency to develop timing systems for smaller, more numerous satellites that operate on 3-5 year replacement cycles rather than traditional 15-year satellite lifespans. This represents a fundamental shift from ultra-high reliability, high-cost systems to more cost-effective solutions that can be manufactured in higher volumes. A major strategic initiative has been the company's investment in quantum sensor technologies, including the development of quantum magnetometers for navigation and submarine detection applications, as well as Rydberg sensor technology. FEIM has hosted quantum sensor summits and is actively pursuing Cooperative Research and Development agreements with government laboratories to advance these next-generation technologies. Management anticipates development contracts in this area within the next 1-2 years. The company has also significantly increased its R&D spending to approximately 10% of revenue, up from much lower historical levels, reflecting its commitment to staying at the forefront of timing technology. Recent developments include advancing mercury ion atomic clocks and pulse laser-based rubidium atomic clocks that could offer order-of-magnitude improvements in timing stability. Under new permanent CEO Thomas McClelland, the company has also undertaken operational improvements including workforce optimization and manufacturing efficiency initiatives, while maintaining its debt-free balance sheet and strong working capital position.
FEIM company profile · for informational purposes only — not investment advice.
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