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Side-by-side financial comparison of Arena Group Holdings, Inc. (AREN) and FREQUENCY ELECTRONICS INC (FEIM). Click either name above to swap in a different company.
Arena Group Holdings, Inc. is the larger business by last-quarter revenue ($28.2M vs $17.1M, roughly 1.6× FREQUENCY ELECTRONICS INC). Arena Group Holdings, Inc. runs the higher net margin — 18.9% vs 10.5%, a 8.4% gap on every dollar of revenue. On growth, FREQUENCY ELECTRONICS INC posted the faster year-over-year revenue change (8.3% vs -22.0%). Over the past eight quarters, FREQUENCY ELECTRONICS INC's revenue compounded faster (11.8% CAGR vs -1.2%).
Arena Racing Company, also called ARC Racing and Leisure Group is a UK private company, created in 2012 by the merger of Arena Leisure and Northern Racing. It owns and operates 16 racecourses in Great Britain, accounting for 39% of British racing fixtures. It also operates hotels at Wolverhampton Racecourse, Lingfield Park Racecourse and Doncaster Racecourse and golf courses at Lingfield, Southwell and Newcastle.
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.
AREN vs FEIM — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $28.2M | $17.1M |
| Net Profit | $5.3M | $1.8M |
| Gross Margin | 43.6% | 38.2% |
| Operating Margin | 26.6% | 10.0% |
| Net Margin | 18.9% | 10.5% |
| Revenue YoY | -22.0% | 8.3% |
| Net Profit YoY | -22.5% | -32.1% |
| EPS (diluted) | $0.12 | $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.
| Q4 25 | $28.2M | $17.1M | ||
| Q3 25 | $29.8M | $13.8M | ||
| Q2 25 | $45.0M | $20.0M | ||
| Q1 25 | $31.8M | $18.9M | ||
| Q4 24 | $36.2M | $15.8M | ||
| Q3 24 | $33.6M | $15.1M | ||
| Q2 24 | $27.2M | $15.6M | ||
| Q1 24 | $28.9M | $13.7M |
| Q4 25 | $5.3M | $1.8M | ||
| Q3 25 | $6.9M | $634.0K | ||
| Q2 25 | $108.6M | $3.2M | ||
| Q1 25 | $4.0M | $15.4M | ||
| Q4 24 | $6.9M | $2.7M | ||
| Q3 24 | $4.0M | $2.4M | ||
| Q2 24 | $-8.2M | $2.6M | ||
| Q1 24 | $-103.4M | $130.0K |
| Q4 25 | 43.6% | 38.2% | ||
| Q3 25 | 50.2% | 36.8% | ||
| Q2 25 | 56.5% | 37.5% | ||
| Q1 25 | 49.3% | 43.8% | ||
| Q4 24 | 52.6% | 48.2% | ||
| Q3 24 | 50.6% | 44.4% | ||
| Q2 24 | 39.4% | 40.3% | ||
| Q1 24 | 30.9% | 22.6% |
| Q4 25 | 26.6% | 10.0% | ||
| Q3 25 | 31.9% | 2.6% | ||
| Q2 25 | 36.5% | 16.4% | ||
| Q1 25 | 23.1% | 18.3% | ||
| Q4 24 | 28.6% | 16.5% | ||
| Q3 24 | 24.0% | 15.7% | ||
| Q2 24 | -9.5% | 16.0% | ||
| Q1 24 | -27.5% | -3.4% |
| Q4 25 | 18.9% | 10.5% | ||
| Q3 25 | 23.1% | 4.6% | ||
| Q2 25 | 241.4% | 16.0% | ||
| Q1 25 | 12.6% | 81.4% | ||
| Q4 24 | 19.0% | 16.8% | ||
| Q3 24 | 11.8% | 16.1% | ||
| Q2 24 | -30.1% | 16.9% | ||
| Q1 24 | -357.1% | 0.9% |
| Q4 25 | $0.12 | $0.18 | ||
| Q3 25 | $0.14 | $0.07 | ||
| Q2 25 | $2.28 | $0.33 | ||
| Q1 25 | $0.08 | $1.60 | ||
| Q4 24 | $1.23 | $0.28 | ||
| Q3 24 | $0.11 | $0.25 | ||
| Q2 24 | $-0.28 | $0.28 | ||
| Q1 24 | $-3.91 | $0.01 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $10.3M | $3.0M |
| Total DebtLower is stronger | $97.6M | — |
| Stockholders' EquityBook value | $-4.8M | $58.5M |
| Total Assets | $112.6M | $92.3M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $10.3M | $3.0M | ||
| Q3 25 | $12.5M | $4.5M | ||
| Q2 25 | $6.8M | $4.7M | ||
| Q1 25 | $2.9M | $5.5M | ||
| Q4 24 | $4.4M | $9.7M | ||
| Q3 24 | $5.8M | $16.2M | ||
| Q2 24 | $6.1M | $18.3M | ||
| Q1 24 | $4.0M | $11.7M |
| Q4 25 | $97.6M | — | ||
| Q3 25 | $110.5M | — | ||
| Q2 25 | $110.5M | — | ||
| Q1 25 | $110.5M | — | ||
| Q4 24 | $110.4M | — | ||
| Q3 24 | $102.4M | — | ||
| Q2 24 | $102.4M | — | ||
| Q1 24 | $102.3M | — |
| Q4 25 | $-4.8M | $58.5M | ||
| Q3 25 | $-10.4M | $56.3M | ||
| Q2 25 | $-17.3M | $55.6M | ||
| Q1 25 | $-126.1M | $51.8M | ||
| Q4 24 | $-130.3M | $36.2M | ||
| Q3 24 | $-137.5M | $33.2M | ||
| Q2 24 | $-157.2M | $39.8M | ||
| Q1 24 | $-149.6M | $36.7M |
| Q4 25 | $112.6M | $92.3M | ||
| Q3 25 | $121.4M | $93.2M | ||
| Q2 25 | $127.8M | $93.7M | ||
| Q1 25 | $114.6M | $86.4M | ||
| Q4 24 | $116.4M | $77.8M | ||
| Q3 24 | $114.2M | $84.3M | ||
| Q2 24 | $113.4M | $83.3M | ||
| Q1 24 | $120.3M | $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 | | |
|---|---|---|
| Operating Cash FlowLast quarter | $13.1M | $-523.0K |
| Free Cash FlowOCF − Capex | — | $-1.1M |
| FCF MarginFCF / Revenue | — | -6.6% |
| Capex IntensityCapex / Revenue | — | 3.6% |
| Cash ConversionOCF / Net Profit | 2.46× | -0.29× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-5.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $13.1M | $-523.0K | ||
| Q3 25 | $12.2M | $1.2M | ||
| Q2 25 | $10.3M | $-155.0K | ||
| Q1 25 | $3.7M | $-3.6M | ||
| Q4 24 | $-8.6M | $3.8M | ||
| Q3 24 | $-2.3M | $-1.5M | ||
| Q2 24 | $-3.2M | $7.5M | ||
| Q1 24 | $-2.0M | $4.2M |
| Q4 25 | — | $-1.1M | ||
| Q3 25 | — | $385.0K | ||
| Q2 25 | — | $-786.0K | ||
| Q1 25 | — | $-4.0M | ||
| Q4 24 | — | $3.3M | ||
| Q3 24 | $-2.4M | $-1.8M | ||
| Q2 24 | — | $6.7M | ||
| Q1 24 | — | $3.9M |
| Q4 25 | — | -6.6% | ||
| Q3 25 | — | 2.8% | ||
| Q2 25 | — | -3.9% | ||
| Q1 25 | — | -20.9% | ||
| Q4 24 | — | 20.8% | ||
| Q3 24 | -7.1% | -11.8% | ||
| Q2 24 | — | 42.8% | ||
| Q1 24 | — | 28.4% |
| Q4 25 | — | 3.6% | ||
| Q3 25 | 0.0% | 5.6% | ||
| Q2 25 | — | 3.2% | ||
| Q1 25 | — | 1.7% | ||
| Q4 24 | — | 3.3% | ||
| Q3 24 | 0.1% | 2.2% | ||
| Q2 24 | — | 5.3% | ||
| Q1 24 | — | 2.3% |
| Q4 25 | 2.46× | -0.29× | ||
| Q3 25 | 1.77× | 1.83× | ||
| Q2 25 | 0.09× | -0.05× | ||
| Q1 25 | 0.91× | -0.24× | ||
| Q4 24 | -1.25× | 1.44× | ||
| Q3 24 | -0.59× | -0.60× | ||
| Q2 24 | — | 2.85× | ||
| Q1 24 | — | 32.36× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AREN
Segment breakdown not available.
FEIM
| POC Revenue | $14.8M | 86% |
| POT Revenue | $2.3M | 13% |
