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Side-by-side financial comparison of FREQUENCY ELECTRONICS INC (FEIM) and FTC Solar, Inc. (FTCI). Click either name above to swap in a different company.
FTC Solar, Inc. is the larger business by last-quarter revenue ($32.9M vs $17.1M, roughly 1.9× FREQUENCY ELECTRONICS INC). FREQUENCY ELECTRONICS INC runs the higher net margin — 10.5% vs -110.7%, a 121.3% gap on every dollar of revenue. On growth, FTC Solar, Inc. posted the faster year-over-year revenue change (148.9% vs 8.3%). FREQUENCY ELECTRONICS INC produced more free cash flow last quarter ($-1.1M vs $-8.4M). Over the past eight quarters, FTC Solar, Inc.'s revenue compounded faster (61.6% CAGR vs 11.8%).
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.
FTC Solar, Inc. is a leading global provider of advanced solar tracker systems, associated components, and supporting software for solar projects. It serves utility-scale, commercial, and industrial solar segments across key global markets, helping customers boost energy generation efficiency and lower overall project costs.
FEIM vs FTCI — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $17.1M | $32.9M |
| Net Profit | $1.8M | $-36.4M |
| Gross Margin | 38.2% | 14.9% |
| Operating Margin | 10.0% | -17.2% |
| Net Margin | 10.5% | -110.7% |
| Revenue YoY | 8.3% | 148.9% |
| Net Profit YoY | -32.1% | -197.4% |
| EPS (diluted) | $0.18 | $-2.31 |
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 | $32.9M | ||
| Q3 25 | $13.8M | $26.0M | ||
| Q2 25 | $20.0M | $20.0M | ||
| Q1 25 | $18.9M | $20.8M | ||
| Q4 24 | $15.8M | $13.2M | ||
| Q3 24 | $15.1M | $10.1M | ||
| Q2 24 | $15.6M | $11.4M | ||
| Q1 24 | $13.7M | $12.6M |
| Q4 25 | $1.8M | $-36.4M | ||
| Q3 25 | $634.0K | $-23.9M | ||
| Q2 25 | $3.2M | $-15.4M | ||
| Q1 25 | $15.4M | $-3.8M | ||
| Q4 24 | $2.7M | $-12.2M | ||
| Q3 24 | $2.4M | $-15.4M | ||
| Q2 24 | $2.6M | $-12.2M | ||
| Q1 24 | $130.0K | $-8.8M |
| Q4 25 | 38.2% | 14.9% | ||
| Q3 25 | 36.8% | 6.1% | ||
| Q2 25 | 37.5% | -19.6% | ||
| Q1 25 | 43.8% | -16.6% | ||
| Q4 24 | 48.2% | -29.1% | ||
| Q3 24 | 44.4% | -42.5% | ||
| Q2 24 | 40.3% | -20.5% | ||
| Q1 24 | 22.6% | -16.7% |
| Q4 25 | 10.0% | -17.2% | ||
| Q3 25 | 2.6% | -29.6% | ||
| Q2 25 | 16.4% | -57.5% | ||
| Q1 25 | 18.3% | -50.8% | ||
| Q4 24 | 16.5% | -101.7% | ||
| Q3 24 | 15.7% | -147.8% | ||
| Q2 24 | 16.0% | -104.3% | ||
| Q1 24 | -3.4% | -99.3% |
| Q4 25 | 10.5% | -110.7% | ||
| Q3 25 | 4.6% | -92.0% | ||
| Q2 25 | 16.0% | -77.2% | ||
| Q1 25 | 81.4% | -18.4% | ||
| Q4 24 | 16.8% | -92.7% | ||
| Q3 24 | 16.1% | -151.5% | ||
| Q2 24 | 16.9% | -107.1% | ||
| Q1 24 | 0.9% | -69.7% |
| Q4 25 | $0.18 | $-2.31 | ||
| Q3 25 | $0.07 | $-1.61 | ||
| Q2 25 | $0.33 | $-1.18 | ||
| Q1 25 | $1.60 | $-0.58 | ||
| Q4 24 | $0.28 | $-0.95 | ||
| Q3 24 | $0.25 | $-1.21 | ||
| Q2 24 | $0.28 | $-0.97 | ||
| Q1 24 | $0.01 | $-0.70 |
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 | $21.1M |
| Total DebtLower is stronger | — | $9.9M |
| Stockholders' EquityBook value | $58.5M | $-43.0M |
| Total Assets | $92.3M | $111.8M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $3.0M | $21.1M | ||
| Q3 25 | $4.5M | $24.4M | ||
| Q2 25 | $4.7M | $3.5M | ||
| Q1 25 | $5.5M | $5.9M | ||
| Q4 24 | $9.7M | $11.2M | ||
| Q3 24 | $16.2M | $8.3M | ||
| Q2 24 | $18.3M | $10.8M | ||
| Q1 24 | $11.7M | $14.0M |
| Q4 25 | — | $9.9M | ||
| Q3 25 | — | $16.6M | ||
| Q2 25 | — | $10.9M | ||
| Q1 25 | — | $10.2M | ||
| Q4 24 | — | $9.5M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $58.5M | $-43.0M | ||
| Q3 25 | $56.3M | $-13.7M | ||
| Q2 25 | $55.6M | $9.0M | ||
| Q1 25 | $51.8M | $15.5M | ||
| Q4 24 | $36.2M | $19.0M | ||
| Q3 24 | $33.2M | $30.4M | ||
| Q2 24 | $39.8M | $44.2M | ||
| Q1 24 | $36.7M | $55.2M |
| Q4 25 | $92.3M | $111.8M | ||
| Q3 25 | $93.2M | $111.5M | ||
| Q2 25 | $93.7M | $83.0M | ||
| Q1 25 | $86.4M | $84.1M | ||
| Q4 24 | $77.8M | $89.9M | ||
| Q3 24 | $84.3M | $91.7M | ||
| Q2 24 | $83.3M | $100.3M | ||
| Q1 24 | $77.7M | $115.0M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 1.20× | ||
| Q1 25 | — | 0.65× | ||
| Q4 24 | — | 0.50× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| 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 | $-8.0M |
| Free Cash FlowOCF − Capex | $-1.1M | $-8.4M |
| FCF MarginFCF / Revenue | -6.6% | -25.7% |
| Capex IntensityCapex / Revenue | 3.6% | 1.3% |
| Cash ConversionOCF / Net Profit | -0.29× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-5.5M | $-34.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-523.0K | $-8.0M | ||
| Q3 25 | $1.2M | $-14.6M | ||
| Q2 25 | $-155.0K | $-2.3M | ||
| Q1 25 | $-3.6M | $-8.5M | ||
| Q4 24 | $3.8M | $-16.7M | ||
| Q3 24 | $-1.5M | $-2.4M | ||
| Q2 24 | $7.5M | $-3.8M | ||
| Q1 24 | $4.2M | $-11.9M |
| Q4 25 | $-1.1M | $-8.4M | ||
| Q3 25 | $385.0K | $-15.1M | ||
| Q2 25 | $-786.0K | $-2.5M | ||
| Q1 25 | $-4.0M | $-8.6M | ||
| Q4 24 | $3.3M | $-17.0M | ||
| Q3 24 | $-1.8M | $-2.6M | ||
| Q2 24 | $6.7M | $-4.5M | ||
| Q1 24 | $3.9M | $-12.3M |
| Q4 25 | -6.6% | -25.7% | ||
| Q3 25 | 2.8% | -57.9% | ||
| Q2 25 | -3.9% | -12.4% | ||
| Q1 25 | -20.9% | -41.2% | ||
| Q4 24 | 20.8% | -128.6% | ||
| Q3 24 | -11.8% | -25.6% | ||
| Q2 24 | 42.8% | -39.2% | ||
| Q1 24 | 28.4% | -97.6% |
| Q4 25 | 3.6% | 1.3% | ||
| Q3 25 | 5.6% | 1.7% | ||
| Q2 25 | 3.2% | 0.9% | ||
| Q1 25 | 1.7% | 0.4% | ||
| Q4 24 | 3.3% | 2.2% | ||
| Q3 24 | 2.2% | 2.2% | ||
| Q2 24 | 5.3% | 6.1% | ||
| Q1 24 | 2.3% | 3.4% |
| 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 | 2.85× | — | ||
| Q1 24 | 32.36× | — |
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% |
FTCI
| Products | $26.2M | 80% |
| Services | $6.7M | 20% |
