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Side-by-side financial comparison of Affinity Bancshares, Inc. (AFBI) and FREQUENCY ELECTRONICS INC (FEIM). Click either name above to swap in a different company.

FREQUENCY ELECTRONICS INC is the larger business by last-quarter revenue ($17.1M vs $8.6M, roughly 2.0× Affinity Bancshares, Inc.). Affinity Bancshares, Inc. runs the higher net margin — 24.9% vs 10.5%, a 14.4% gap on every dollar of revenue. On growth, Affinity Bancshares, Inc. posted the faster year-over-year revenue change (12.8% vs 8.3%). Affinity Bancshares, Inc. produced more free cash flow last quarter ($11.2M vs $-1.1M). Over the past eight quarters, FREQUENCY ELECTRONICS INC's revenue compounded faster (11.8% CAGR vs 8.1%).

Ultra Electronics Holdings is a British defence and security company. It was listed on the London Stock Exchange and was a constituent of the FTSE 250 Index until it was acquired by Cobham, which is itself owned by Advent International.

AFBI vs FEIM — Head-to-Head

Bigger by revenue
FEIM
FEIM
2.0× larger
FEIM
$17.1M
$8.6M
AFBI
Growing faster (revenue YoY)
AFBI
AFBI
+4.6% gap
AFBI
12.8%
8.3%
FEIM
Higher net margin
AFBI
AFBI
14.4% more per $
AFBI
24.9%
10.5%
FEIM
More free cash flow
AFBI
AFBI
$12.4M more FCF
AFBI
$11.2M
$-1.1M
FEIM
Faster 2-yr revenue CAGR
FEIM
FEIM
Annualised
FEIM
11.8%
8.1%
AFBI

Income Statement — Q4 FY2025 vs Q2 FY2026

Metric
AFBI
AFBI
FEIM
FEIM
Revenue
$8.6M
$17.1M
Net Profit
$2.1M
$1.8M
Gross Margin
38.2%
Operating Margin
35.9%
10.0%
Net Margin
24.9%
10.5%
Revenue YoY
12.8%
8.3%
Net Profit YoY
58.5%
-32.1%
EPS (diluted)
$0.34
$0.18

Green = leading value per metric. Periods may differ when fiscal calendars don't align.

8-Quarter Revenue & Profit Trend

Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.

Revenue
AFBI
AFBI
FEIM
FEIM
Q4 25
$8.6M
$17.1M
Q3 25
$8.4M
$13.8M
Q2 25
$8.3M
$20.0M
Q1 25
$7.8M
$18.9M
Q4 24
$7.6M
$15.8M
Q3 24
$8.0M
$15.1M
Q2 24
$8.3M
$15.6M
Q1 24
$7.3M
$13.7M
Net Profit
AFBI
AFBI
FEIM
FEIM
Q4 25
$2.1M
$1.8M
Q3 25
$2.2M
$634.0K
Q2 25
$2.2M
$3.2M
Q1 25
$1.8M
$15.4M
Q4 24
$1.3M
$2.7M
Q3 24
$1.7M
$2.4M
Q2 24
$1.0M
$2.6M
Q1 24
$1.3M
$130.0K
Gross Margin
AFBI
AFBI
FEIM
FEIM
Q4 25
38.2%
Q3 25
36.8%
Q2 25
37.5%
Q1 25
43.8%
Q4 24
48.2%
Q3 24
44.4%
Q2 24
40.3%
Q1 24
22.6%
Operating Margin
AFBI
AFBI
FEIM
FEIM
Q4 25
35.9%
10.0%
Q3 25
34.9%
2.6%
Q2 25
34.1%
16.4%
Q1 25
30.8%
18.3%
Q4 24
21.1%
16.5%
Q3 24
28.5%
15.7%
Q2 24
16.2%
16.0%
Q1 24
24.0%
-3.4%
Net Margin
AFBI
AFBI
FEIM
FEIM
Q4 25
24.9%
10.5%
Q3 25
26.5%
4.6%
Q2 25
25.9%
16.0%
Q1 25
23.4%
81.4%
Q4 24
17.7%
16.8%
Q3 24
21.7%
16.1%
Q2 24
12.5%
16.9%
Q1 24
18.2%
0.9%
EPS (diluted)
AFBI
AFBI
FEIM
FEIM
Q4 25
$0.34
$0.18
Q3 25
$0.34
$0.07
Q2 25
$0.33
$0.33
Q1 25
$0.28
$1.60
Q4 24
$0.21
$0.28
Q3 24
$0.26
$0.25
Q2 24
$0.16
$0.28
Q1 24
$0.20
$0.01

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
AFBI
AFBI
FEIM
FEIM
Cash + ST InvestmentsLiquidity on hand
$53.9M
$3.0M
Total DebtLower is stronger
Stockholders' EquityBook value
$127.0M
$58.5M
Total Assets
$881.7M
$92.3M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
AFBI
AFBI
FEIM
FEIM
Q4 25
$53.9M
$3.0M
Q3 25
$84.8M
$4.5M
Q2 25
$89.7M
$4.7M
Q1 25
$74.7M
$5.5M
Q4 24
$41.4M
$9.7M
Q3 24
$52.3M
$16.2M
Q2 24
$50.4M
$18.3M
Q1 24
$61.4M
$11.7M
Stockholders' Equity
AFBI
AFBI
FEIM
FEIM
Q4 25
$127.0M
$58.5M
Q3 25
$125.4M
$56.3M
Q2 25
$124.1M
$55.6M
Q1 25
$122.3M
$51.8M
Q4 24
$129.1M
$36.2M
Q3 24
$128.4M
$33.2M
Q2 24
$125.1M
$39.8M
Q1 24
$123.3M
$36.7M
Total Assets
AFBI
AFBI
FEIM
FEIM
Q4 25
$881.7M
$92.3M
Q3 25
$925.2M
$93.2M
Q2 25
$933.8M
$93.7M
Q1 25
$912.5M
$86.4M
Q4 24
$866.8M
$77.8M
Q3 24
$878.6M
$84.3M
Q2 24
$873.6M
$83.3M
Q1 24
$869.5M
$77.7M

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
AFBI
AFBI
FEIM
FEIM
Operating Cash FlowLast quarter
$11.6M
$-523.0K
Free Cash FlowOCF − Capex
$11.2M
$-1.1M
FCF MarginFCF / Revenue
130.9%
-6.6%
Capex IntensityCapex / Revenue
4.9%
3.6%
Cash ConversionOCF / Net Profit
5.46×
-0.29×
TTM Free Cash FlowTrailing 4 quarters
$20.3M
$-5.5M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
AFBI
AFBI
FEIM
FEIM
Q4 25
$11.6M
$-523.0K
Q3 25
$3.7M
$1.2M
Q2 25
$3.8M
$-155.0K
Q1 25
$1.9M
$-3.6M
Q4 24
$6.8M
$3.8M
Q3 24
$4.1M
$-1.5M
Q2 24
$619.0K
$7.5M
Q1 24
$1.2M
$4.2M
Free Cash Flow
AFBI
AFBI
FEIM
FEIM
Q4 25
$11.2M
$-1.1M
Q3 25
$3.6M
$385.0K
Q2 25
$3.7M
$-786.0K
Q1 25
$1.8M
$-4.0M
Q4 24
$6.4M
$3.3M
Q3 24
$4.0M
$-1.8M
Q2 24
$489.0K
$6.7M
Q1 24
$1.1M
$3.9M
FCF Margin
AFBI
AFBI
FEIM
FEIM
Q4 25
130.9%
-6.6%
Q3 25
43.3%
2.8%
Q2 25
44.0%
-3.9%
Q1 25
22.7%
-20.9%
Q4 24
83.9%
20.8%
Q3 24
49.5%
-11.8%
Q2 24
5.9%
42.8%
Q1 24
14.8%
28.4%
Capex Intensity
AFBI
AFBI
FEIM
FEIM
Q4 25
4.9%
3.6%
Q3 25
0.8%
5.6%
Q2 25
1.4%
3.2%
Q1 25
1.9%
1.7%
Q4 24
5.6%
3.3%
Q3 24
1.7%
2.2%
Q2 24
1.6%
5.3%
Q1 24
1.8%
2.3%
Cash Conversion
AFBI
AFBI
FEIM
FEIM
Q4 25
5.46×
-0.29×
Q3 25
1.66×
1.83×
Q2 25
1.75×
-0.05×
Q1 25
1.05×
-0.24×
Q4 24
5.05×
1.44×
Q3 24
2.36×
-0.60×
Q2 24
0.60×
2.85×
Q1 24
0.91×
32.36×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

Revenue Breakdown by Segment

AFBI
AFBI

Segment breakdown not available.

FEIM
FEIM

POC Revenue$14.8M86%
POT Revenue$2.3M13%

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