Richardson Electronics, Ltd.
- Open
- 17.78
- Day high
- 18.04
- Day low
- 17.01
- Prev close
- 17.71
- Volume
- 176K
- Mkt cap
- $257M
- P/E (TTM)
- 38.3
- EPS (TTM)
- $0.45
- P/B
- 1.6
- P/S
- 1.1
- Yield
- 1.39%
- Per share
- $0.24
- ▼Insiders net selling -$2.8M over the last 3 months (0 open-market buys, 13 sales)
- 🏛Institutions reducing (13F)
Richardson Electronics, Ltd. (RELL) is a Technology company listed on NASDAQ. The stock is up 79% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 13 sales (SEC Form 4).
Richardson Electronics, Ltd. (RELL) 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.
RELL earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Jul 23, 2026 | $0.07 | $0.21 | +223.1% | $66M | +19.7% |
| Apr 9, 2026 | $0.05 | $0.07 | +40.0% | $55M | +4.1% |
| Jan 7, 2026 | $-0.01 | $-0.01 | +0.0% | $52M | -1.5% |
| Oct 8, 2025 | $0.02 | $0.13 | +550.0% | $55M | +8.9% |
| Jul 23, 2025 | $0.05 | $0.12 | +140.0% | $52M | -3.2% |
| Apr 9, 2025 | $0.08 | $0.11 | +37.5% | $54M | +0.5% |
| Jan 7, 2025 | $-0.02 | $-0.05 | -150.0% | $49M | -11.6% |
| Oct 9, 2024 | $0.01 | $0.04 | +499.7% | $54M | +9.8% |
| Jul 24, 2024 | $-0.05 | $0.02 | +140.0% | $47M | -6.3% |
| Apr 10, 2024 | $0.02 | $0.05 | +150.0% | $52M | -7.1% |
| Jan 10, 2024 | $-0.01 | $-0.13 | -1399.4% | $44M | -32.3% |
| Oct 11, 2023 | $0.03 | $0.09 | +200.0% | $53M | +0.2% |
RELL insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Aug 24, 2026 | Halverson Kennethdirector | Sell | 1,500 | $17.47 |
| Aug 21, 2026 | Benham Jamesdirector | Sell | 3,020 | $17.99 |
| Aug 6, 2026 | Belin Jacquesdirector | Sell | 5,000 | $21.46 |
| Aug 6, 2026 | Ben Robert Jofficer: CFO, CAO, Corporate Secretary | Option | 8,000 | $15.60 |
| Aug 6, 2026 | Belin Jacquesdirector | Option | 5,000 | $9.10 |
| Aug 6, 2026 | Ben Robert Jofficer: CFO, CAO, Corporate Secretary | Sell | 9,000 | $21.61 |
| Aug 6, 2026 | Ben Robert Jofficer: CFO, CAO, Corporate Secretary | Option | 1,000 | $15.51 |
| Aug 6, 2026 | Diddell Wendydirector, officer: COO | Sell | 23,901 | $20.00 |
| Aug 5, 2026 | Benham Jamesdirector | Option | 4,836 | $15.60 |
| Aug 5, 2026 | Benham Jamesdirector | Option | 5,000 | $15.51 |
| Aug 5, 2026 | Halverson Kennethdirector | Sell | 5,000 | $18.77 |
| Aug 5, 2026 | Benham Jamesdirector | Sell | 9,836 | $18.50 |
| Aug 3, 2026 | KLUGE ROBERT Hdirector | Option | 10,000 | $5.87 |
| Aug 3, 2026 | KLUGE ROBERT Hdirector | Option | 5,000 | $9.10 |
| Aug 3, 2026 | KLUGE ROBERT Hdirector | Sell | 29,000 | $17.90 |
Source: RELL SEC Form 4 filings, latest Aug 24, 2026. For informational purposes only — not investment advice.
See the full RELL insider & 13F page →Richardson Electronics, Ltd. company profile
Overview
Richardson Electronics, Ltd. (NASDAQ:RELL) is a specialized technology company founded in 1947 and headquartered in LaFox, Illinois. The company has evolved from its origins as an electronics distributor into a diversified manufacturer and solutions provider serving niche markets in power management, microwave technologies, and custom display solutions. Richardson went public in 1983 and has built a reputation for serving specialized industrial applications where standard components cannot meet demanding technical requirements. The company operates globally across North America, Europe, Asia Pacific, and Latin America, focusing on engineered solutions for mission-critical applications in industries ranging from renewable energy to semiconductor manufacturing.
Business
Richardson Electronics operates across three primary business segments, each serving distinct but complementary markets in specialized electronic components and systems. Power and Microwave Technologies (PMT) represents the company's largest segment, generating approximately 60% of total revenue. This division provides engineered solutions including power grid tubes, microwave tubes, and related consumables for applications requiring precise power control and signal amplification. The products serve critical functions in broadcast transmission systems, CO2 laser cutting equipment, diagnostic imaging machines, radar systems, and radiation oncology equipment. These components are essential for controlling, switching, or amplifying electrical power signals in high-performance applications where reliability is paramount. Green Energy Solutions (GES) has emerged as a high-growth segment, contributing roughly 15-20% of revenue. This division focuses on power management solutions for renewable energy applications, particularly wind turbine battery replacement systems and electric locomotive power modules. The flagship ULTRA3000 ultracapacitor modules help wind turbines maintain power during grid disturbances, while locomotive battery modules support the transition to cleaner transportation. This segment also targets energy storage systems for solar and wind farms. Canvys generates approximately 15-20% of revenue through custom display solutions including touch screens, protective panels, all-in-one computers, and specialized enclosures. These products serve corporate enterprise, financial, healthcare, industrial, and medical original equipment manufacturers who require ruggedized display solutions for demanding environments. The company recently divested its Healthcare segment in January 2025, which previously manufactured diagnostic imaging replacement parts for CT and MRI systems, including replacement tubes, coils, and flat panel detector upgrades serving hospitals and medical service providers.
Revenue model
Richardson Electronics generates revenue primarily through product sales across its specialized technology segments, serving customers who require engineered solutions for mission-critical applications. The Power and Microwave Technologies segment operates on a traditional manufacturing and distribution model, selling high-value, low-volume components to industrial customers including semiconductor equipment manufacturers, broadcast companies, medical device makers, and defense contractors. Revenue comes from both new equipment sales and aftermarket replacement parts, with the replacement market providing more stable, recurring revenue streams. The segment benefits from long product lifecycles and the specialized nature of applications, which creates customer stickiness. Green Energy Solutions generates revenue through sales of power management modules and systems, primarily targeting wind turbine operators and locomotive manufacturers. This segment operates on a project-based model with larger order volumes and longer sales cycles. Revenue growth is driven by the expanding renewable energy market and infrastructure modernization trends. Canvys operates as a custom solutions provider, generating revenue through engineered display systems sold to OEM customers. The business model combines product sales with value-added services including custom software, certification, and specialized manufacturing. Several factors influence the company's margins and profitability. Positive margin drivers include the specialized nature of products that command premium pricing, long-term customer relationships that reduce sales costs, and the aftermarket replacement business that typically carries higher margins. The company's global supply chain and inventory management capabilities also help optimize costs. Margin pressures come from supply chain constraints affecting component availability and costs, the cyclical nature of semiconductor equipment demand, competitive pricing in commodity-like products, and the need for continuous R&D investment to maintain technological leadership. Currency fluctuations also impact margins given the company's global operations.
Competitive moat
Richardson Electronics operates in specialized niche markets that provide moderate competitive protection, though the strength of its moat varies by segment. The company's primary competitive advantages stem from its specialized technical expertise and long-standing customer relationships in markets where switching costs are high. In the Power and Microwave Technologies segment, Richardson serves applications where component failure can shut down critical systems, creating strong customer loyalty and recurring replacement demand. The company's deep technical knowledge and ability to provide engineered solutions for unique applications creates barriers for generalist competitors. Inventory and supply chain capabilities represent another defensive moat. Richardson maintains extensive inventory of specialized components, including a significant $30 million inventory position from a single vendor (Thales), which provides competitive advantage in serving customers with urgent replacement needs. The company's global distribution network and technical support capabilities are difficult for smaller competitors to replicate. The Green Energy Solutions segment benefits from first-mover advantages in wind turbine power management and growing regulatory tailwinds supporting renewable energy infrastructure. However, this market is still developing and could attract larger competitors as it matures. Competitive threats include larger technology companies that might enter these niche markets if they become sufficiently attractive, potential disruption from new technologies that could obsolete existing solutions, and the cyclical nature of key end markets like semiconductor equipment. The company's relatively small size (sub-$200M revenue) also limits its R&D resources compared to larger technology companies. Additionally, some of Richardson's markets face long-term secular decline risks, particularly in traditional broadcast and legacy industrial applications, which could erode the company's market position over time.
Risks & safety
Richardson Electronics demonstrates a strong financial safety profile with minimal solvency risk and conservative capital structure. Liquidity and Solvency: - Cash position of $36.7 million with no outstanding debt provides substantial financial flexibility - Current ratio of 4.7x indicates strong short-term liquidity - Positive operating cash flow of $4.6 million in Q3 2025, marking fourth consecutive quarter of positive cash generation - Graham Net-Net value of 4.7x suggests the company trades below its liquidation value Valuation Metrics: - Negative EBITDA of -$2.7 million in Q3 2025 makes traditional valuation metrics less meaningful - Price-to-book ratio of 1.24x suggests modest valuation relative to book value - Enterprise value reflects the recent operating challenges but strong balance sheet Other Considerations: - Inventory of approximately $111 million represents significant working capital but also potential liquidity risk if demand weakens - Recent divestiture of Healthcare segment improves focus but reduces revenue diversification - Strong backlog of $95 million provides near-term revenue visibility
Recent development
Richardson Electronics has undergone significant strategic transformation over the past few years, focusing on higher-growth markets while divesting non-core assets. The most significant development was the divestiture of the Healthcare segment in January 2025, allowing management to focus resources on the more promising Power and Microwave Technologies and Green Energy Solutions businesses. This strategic move reflects the company's shift toward markets with better growth prospects and margin potential. Green Energy Solutions has emerged as the primary growth driver, with the segment experiencing dramatic expansion from minimal revenue to over $23 million annually. The company has successfully developed and commercialized the ULTRA3000 ultracapacitor modules for wind turbines, serving over 17 wind turbine customers across North America and expanding into European markets. New product introductions include locomotive starter modules and battery energy storage solutions, positioning the company to benefit from infrastructure modernization trends. The semiconductor wafer fab equipment business within PMT has shown strong recovery, with 139% year-over-year growth in Q3 2025. Management anticipates this market could return to previous peak levels of $40+ million in annual revenue as the semiconductor industry cycle recovers. Operational improvements include investments in engineering talent, expansion of global technology partnerships, and enhanced manufacturing capabilities. The company has also improved its supply chain resilience through multiple inventory hubs and duty drawback processes to mitigate tariff impacts. Recent strategic initiatives include exploring opportunities created by "Made in America" mandates and potential tariffs, which could benefit the company's domestic manufacturing capabilities. Management has also indicated plans to define a more formal M&A strategy later in fiscal 2026 to accelerate growth.
RELL company profile · for informational purposes only — not investment advice.
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