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Side-by-side financial comparison of Connect Biopharma Holdings Ltd (CNTB) and FREQUENCY ELECTRONICS INC (FEIM). Click either name above to swap in a different company.

Connect Biopharma Holdings Ltd is the larger business by last-quarter revenue ($24.1M vs $17.1M, roughly 1.4× FREQUENCY ELECTRONICS INC). Connect Biopharma Holdings Ltd runs the higher net margin — 61.6% vs 10.5%, a 51.0% gap on every dollar of revenue.

Connect Biopharma Holdings Ltd is a clinical-stage global biopharmaceutical company dedicated to developing innovative targeted therapies for inflammatory, immunological and autoimmune diseases. Its core pipeline includes candidate treatments for asthma, atopic dermatitis and other conditions with high unmet medical needs, with main operations across the U.S., China and key global markets to deliver effective therapeutic solutions to patients.

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.

CNTB vs FEIM — Head-to-Head

Bigger by revenue
CNTB
CNTB
1.4× larger
CNTB
$24.1M
$17.1M
FEIM
Higher net margin
CNTB
CNTB
51.0% more per $
CNTB
61.6%
10.5%
FEIM

Income Statement — Q2 FY2024 vs Q2 FY2026

Metric
CNTB
CNTB
FEIM
FEIM
Revenue
$24.1M
$17.1M
Net Profit
$14.8M
$1.8M
Gross Margin
38.2%
Operating Margin
56.6%
10.0%
Net Margin
61.6%
10.5%
Revenue YoY
8.3%
Net Profit YoY
148.7%
-32.1%
EPS (diluted)
$0.27
$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
CNTB
CNTB
FEIM
FEIM
Q4 25
$17.1M
Q3 25
$13.8M
Q2 25
$20.0M
Q1 25
$18.9M
Q4 24
$15.8M
Q3 24
$15.1M
Q2 24
$24.1M
$15.6M
Q1 24
$13.7M
Net Profit
CNTB
CNTB
FEIM
FEIM
Q4 25
$1.8M
Q3 25
$634.0K
Q2 25
$3.2M
Q1 25
$15.4M
Q4 24
$2.7M
Q3 24
$2.4M
Q2 24
$14.8M
$2.6M
Q1 24
$130.0K
Gross Margin
CNTB
CNTB
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
CNTB
CNTB
FEIM
FEIM
Q4 25
10.0%
Q3 25
2.6%
Q2 25
16.4%
Q1 25
18.3%
Q4 24
16.5%
Q3 24
15.7%
Q2 24
56.6%
16.0%
Q1 24
-3.4%
Net Margin
CNTB
CNTB
FEIM
FEIM
Q4 25
10.5%
Q3 25
4.6%
Q2 25
16.0%
Q1 25
81.4%
Q4 24
16.8%
Q3 24
16.1%
Q2 24
61.6%
16.9%
Q1 24
0.9%
EPS (diluted)
CNTB
CNTB
FEIM
FEIM
Q4 25
$0.18
Q3 25
$0.07
Q2 25
$0.33
Q1 25
$1.60
Q4 24
$0.28
Q3 24
$0.25
Q2 24
$0.27
$0.28
Q1 24
$0.01

Balance Sheet & Financial Strength

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

Metric
CNTB
CNTB
FEIM
FEIM
Cash + ST InvestmentsLiquidity on hand
$110.2M
$3.0M
Total DebtLower is stronger
Stockholders' EquityBook value
$110.9M
$58.5M
Total Assets
$120.6M
$92.3M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
CNTB
CNTB
FEIM
FEIM
Q4 25
$3.0M
Q3 25
$4.5M
Q2 25
$4.7M
Q1 25
$5.5M
Q4 24
$9.7M
Q3 24
$16.2M
Q2 24
$110.2M
$18.3M
Q1 24
$11.7M
Stockholders' Equity
CNTB
CNTB
FEIM
FEIM
Q4 25
$58.5M
Q3 25
$56.3M
Q2 25
$55.6M
Q1 25
$51.8M
Q4 24
$36.2M
Q3 24
$33.2M
Q2 24
$110.9M
$39.8M
Q1 24
$36.7M
Total Assets
CNTB
CNTB
FEIM
FEIM
Q4 25
$92.3M
Q3 25
$93.2M
Q2 25
$93.7M
Q1 25
$86.4M
Q4 24
$77.8M
Q3 24
$84.3M
Q2 24
$120.6M
$83.3M
Q1 24
$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
CNTB
CNTB
FEIM
FEIM
Operating Cash FlowLast quarter
$-8.0M
$-523.0K
Free Cash FlowOCF − Capex
$-1.1M
FCF MarginFCF / Revenue
-6.6%
Capex IntensityCapex / Revenue
3.6%
Cash ConversionOCF / Net Profit
-0.54×
-0.29×
TTM Free Cash FlowTrailing 4 quarters
$-5.5M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
CNTB
CNTB
FEIM
FEIM
Q4 25
$-523.0K
Q3 25
$1.2M
Q2 25
$-155.0K
Q1 25
$-3.6M
Q4 24
$3.8M
Q3 24
$-1.5M
Q2 24
$-8.0M
$7.5M
Q1 24
$4.2M
Free Cash Flow
CNTB
CNTB
FEIM
FEIM
Q4 25
$-1.1M
Q3 25
$385.0K
Q2 25
$-786.0K
Q1 25
$-4.0M
Q4 24
$3.3M
Q3 24
$-1.8M
Q2 24
$6.7M
Q1 24
$3.9M
FCF Margin
CNTB
CNTB
FEIM
FEIM
Q4 25
-6.6%
Q3 25
2.8%
Q2 25
-3.9%
Q1 25
-20.9%
Q4 24
20.8%
Q3 24
-11.8%
Q2 24
42.8%
Q1 24
28.4%
Capex Intensity
CNTB
CNTB
FEIM
FEIM
Q4 25
3.6%
Q3 25
5.6%
Q2 25
3.2%
Q1 25
1.7%
Q4 24
3.3%
Q3 24
2.2%
Q2 24
5.3%
Q1 24
2.3%
Cash Conversion
CNTB
CNTB
FEIM
FEIM
Q4 25
-0.29×
Q3 25
1.83×
Q2 25
-0.05×
Q1 25
-0.24×
Q4 24
1.44×
Q3 24
-0.60×
Q2 24
-0.54×
2.85×
Q1 24
32.36×

Financial Flow Comparison

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

Revenue Breakdown by Segment

CNTB
CNTB

Segment breakdown not available.

FEIM
FEIM

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

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