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Side-by-side financial comparison of FREQUENCY ELECTRONICS INC (FEIM) and FONAR CORP (FONR). Click either name above to swap in a different company.
FONAR CORP is the larger business by last-quarter revenue ($25.5M vs $17.1M, roughly 1.5× FREQUENCY ELECTRONICS INC). FREQUENCY ELECTRONICS INC runs the higher net margin — 10.5% vs 8.0%, a 2.5% gap on every dollar of revenue. On growth, FREQUENCY ELECTRONICS INC posted the faster year-over-year revenue change (8.3% vs 2.4%). FONAR CORP produced more free cash flow last quarter ($-227.0K vs $-1.1M). Over the past eight quarters, FREQUENCY ELECTRONICS INC's revenue compounded faster (11.8% CAGR vs -0.3%).
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.
FONAR Corp is a specialized medical technology firm that designs, manufactures, and distributes innovative MRI systems including upright and open models. It primarily serves U.S. hospitals, diagnostic imaging centers, and healthcare providers, delivering high-precision scanning solutions for clinical diagnostic use.
FEIM vs FONR — Head-to-Head
Income Statement — Q2 FY2026 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $17.1M | $25.5M |
| Net Profit | $1.8M | $2.1M |
| Gross Margin | 38.2% | — |
| Operating Margin | 10.0% | 13.5% |
| Net Margin | 10.5% | 8.0% |
| Revenue YoY | 8.3% | 2.4% |
| Net Profit YoY | -32.1% | 4.7% |
| EPS (diluted) | $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 | $17.1M | $25.5M | ||
| Q3 25 | $13.8M | $26.0M | ||
| Q2 25 | $20.0M | $27.3M | ||
| Q1 25 | $18.9M | $27.2M | ||
| Q4 24 | $15.8M | $24.9M | ||
| Q3 24 | $15.1M | $25.0M | ||
| Q2 24 | $15.6M | $25.9M | ||
| Q1 24 | $13.7M | $25.7M |
| Q4 25 | $1.8M | $2.1M | ||
| Q3 25 | $634.0K | $2.3M | ||
| Q2 25 | $3.2M | $729.3K | ||
| Q1 25 | $15.4M | $2.5M | ||
| Q4 24 | $2.7M | $2.0M | ||
| Q3 24 | $2.4M | $3.1M | ||
| Q2 24 | $2.6M | $830.4K | ||
| Q1 24 | $130.0K | $1.9M |
| 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% | — |
| Q4 25 | 10.0% | 13.5% | ||
| Q3 25 | 2.6% | 14.1% | ||
| Q2 25 | 16.4% | 5.3% | ||
| Q1 25 | 18.3% | 15.2% | ||
| Q4 24 | 16.5% | 11.9% | ||
| Q3 24 | 15.7% | 21.0% | ||
| Q2 24 | 16.0% | 7.4% | ||
| Q1 24 | -3.4% | 16.8% |
| Q4 25 | 10.5% | 8.0% | ||
| Q3 25 | 4.6% | 8.7% | ||
| Q2 25 | 16.0% | 2.7% | ||
| Q1 25 | 81.4% | 9.2% | ||
| Q4 24 | 16.8% | 7.9% | ||
| Q3 24 | 16.1% | 12.6% | ||
| Q2 24 | 16.9% | 3.2% | ||
| Q1 24 | 0.9% | 7.3% |
| 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 | $0.28 | — | ||
| Q1 24 | $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 | $3.0M | $121.0K |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $58.5M | $176.9M |
| Total Assets | $92.3M | $217.2M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $3.0M | $121.0K | ||
| Q3 25 | $4.5M | $122.0K | ||
| Q2 25 | $4.7M | $56.5M | ||
| Q1 25 | $5.5M | $123.0K | ||
| Q4 24 | $9.7M | $121.0K | ||
| Q3 24 | $16.2M | $136.0K | ||
| Q2 24 | $18.3M | $56.5M | ||
| Q1 24 | $11.7M | $134.0K |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $66.9K | ||
| Q1 24 | — | — |
| Q4 25 | $58.5M | $176.9M | ||
| Q3 25 | $56.3M | $174.9M | ||
| Q2 25 | $55.6M | $172.6M | ||
| Q1 25 | $51.8M | $171.9M | ||
| Q4 24 | $36.2M | $169.8M | ||
| Q3 24 | $33.2M | $168.7M | ||
| Q2 24 | $39.8M | $166.0M | ||
| Q1 24 | $36.7M | $165.8M |
| Q4 25 | $92.3M | $217.2M | ||
| Q3 25 | $93.2M | $218.4M | ||
| Q2 25 | $93.7M | $216.9M | ||
| Q1 25 | $86.4M | $214.9M | ||
| Q4 24 | $77.8M | $208.0M | ||
| Q3 24 | $84.3M | $212.3M | ||
| Q2 24 | $83.3M | $214.2M | ||
| Q1 24 | $77.7M | $209.6M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 0.00× | ||
| Q1 24 | — | — |
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 | $-523.0K | $171.0K |
| Free Cash FlowOCF − Capex | $-1.1M | $-227.0K |
| FCF MarginFCF / Revenue | -6.6% | -0.9% |
| Capex IntensityCapex / Revenue | 3.6% | 1.6% |
| Cash ConversionOCF / Net Profit | -0.29× | 0.08× |
| TTM Free Cash FlowTrailing 4 quarters | $-5.5M | $5.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-523.0K | $171.0K | ||
| Q3 25 | $1.2M | $1.7M | ||
| Q2 25 | $-155.0K | $4.2M | ||
| Q1 25 | $-3.6M | $3.1M | ||
| Q4 24 | $3.8M | $2.2M | ||
| Q3 24 | $-1.5M | $1.7M | ||
| Q2 24 | $7.5M | $4.6M | ||
| Q1 24 | $4.2M | $2.8M |
| Q4 25 | $-1.1M | $-227.0K | ||
| Q3 25 | $385.0K | $-177.0K | ||
| Q2 25 | $-786.0K | $3.6M | ||
| Q1 25 | $-4.0M | $2.6M | ||
| Q4 24 | $3.3M | $1.5M | ||
| Q3 24 | $-1.8M | $-148.0K | ||
| Q2 24 | $6.7M | $4.2M | ||
| Q1 24 | $3.9M | $2.6M |
| Q4 25 | -6.6% | -0.9% | ||
| Q3 25 | 2.8% | -0.7% | ||
| Q2 25 | -3.9% | 13.1% | ||
| Q1 25 | -20.9% | 9.4% | ||
| Q4 24 | 20.8% | 6.0% | ||
| Q3 24 | -11.8% | -0.6% | ||
| Q2 24 | 42.8% | 16.1% | ||
| Q1 24 | 28.4% | 10.2% |
| Q4 25 | 3.6% | 1.6% | ||
| Q3 25 | 5.6% | 7.2% | ||
| Q2 25 | 3.2% | 2.4% | ||
| Q1 25 | 1.7% | 2.2% | ||
| Q4 24 | 3.3% | 3.0% | ||
| Q3 24 | 2.2% | 7.2% | ||
| Q2 24 | 5.3% | 1.6% | ||
| Q1 24 | 2.3% | 0.7% |
| Q4 25 | -0.29× | 0.08× | ||
| Q3 25 | 1.83× | 0.75× | ||
| Q2 25 | -0.05× | 5.79× | ||
| Q1 25 | -0.24× | 1.26× | ||
| Q4 24 | 1.44× | 1.14× | ||
| Q3 24 | -0.60× | 0.53× | ||
| Q2 24 | 2.85× | 5.54× | ||
| Q1 24 | 32.36× | 1.50× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FEIM
| POC Revenue | $14.8M | 86% |
| POT Revenue | $2.3M | 13% |
FONR
| Managementof Diagnostic Imaging Centers | $23.2M | 91% |
| Manufacturingand Servicingof Medical Equipment | $2.4M | 9% |
