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Side-by-side financial comparison of FREQUENCY ELECTRONICS INC (FEIM) and EVERSPIN TECHNOLOGIES INC. (MRAM). Click either name above to swap in a different company.
FREQUENCY ELECTRONICS INC is the larger business by last-quarter revenue ($17.1M vs $14.9M, roughly 1.2× EVERSPIN TECHNOLOGIES INC.). FREQUENCY ELECTRONICS INC runs the higher net margin — 10.5% vs -2.0%, a 12.5% gap on every dollar of revenue. On growth, EVERSPIN TECHNOLOGIES INC. posted the faster year-over-year revenue change (13.2% vs 8.3%). Over the past eight quarters, EVERSPIN TECHNOLOGIES INC.'s revenue compounded faster (18.2% 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.
Everspin Technologies, Inc. is a publicly traded semiconductor company headquartered in Chandler, Arizona, United States. It develops and manufactures discrete magnetoresistive RAM or magnetoresistive random-access memory (MRAM) products, including Toggle MRAM and Spin-Transfer Torque MRAM (STT-MRAM) product families. It also licenses its technology for use in embedded MRAM (eMRAM) applications, magnetic sensor applications as well as performs backend foundry services for eMRAM.
FEIM vs MRAM — Head-to-Head
Income Statement — Q2 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $17.1M | $14.9M |
| Net Profit | $1.8M | $-296.0K |
| Gross Margin | 38.2% | 52.7% |
| Operating Margin | 10.0% | 29.0% |
| Net Margin | 10.5% | -2.0% |
| Revenue YoY | 8.3% | 13.2% |
| Net Profit YoY | -32.1% | — |
| EPS (diluted) | $0.18 | $-0.01 |
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.
| Q1 26 | — | $14.9M | ||
| Q4 25 | $17.1M | $14.8M | ||
| Q3 25 | $13.8M | $14.1M | ||
| Q2 25 | $20.0M | $13.2M | ||
| Q1 25 | $18.9M | $13.1M | ||
| Q4 24 | $15.8M | $13.2M | ||
| Q3 24 | $15.1M | $12.1M | ||
| Q2 24 | $15.6M | $10.6M |
| Q1 26 | — | $-296.0K | ||
| Q4 25 | $1.8M | $1.2M | ||
| Q3 25 | $634.0K | $54.0K | ||
| Q2 25 | $3.2M | $-670.0K | ||
| Q1 25 | $15.4M | $-1.2M | ||
| Q4 24 | $2.7M | $1.2M | ||
| Q3 24 | $2.4M | $2.3M | ||
| Q2 24 | $2.6M | $-2.5M |
| Q1 26 | — | 52.7% | ||
| Q4 25 | 38.2% | 50.8% | ||
| Q3 25 | 36.8% | 51.3% | ||
| Q2 25 | 37.5% | 51.3% | ||
| Q1 25 | 43.8% | 51.4% | ||
| Q4 24 | 48.2% | 51.3% | ||
| Q3 24 | 44.4% | 49.2% | ||
| Q2 24 | 40.3% | 49.0% |
| Q1 26 | — | 29.0% | ||
| Q4 25 | 10.0% | -7.2% | ||
| Q3 25 | 2.6% | -11.0% | ||
| Q2 25 | 16.4% | -14.9% | ||
| Q1 25 | 18.3% | -14.7% | ||
| Q4 24 | 16.5% | -11.8% | ||
| Q3 24 | 15.7% | -17.5% | ||
| Q2 24 | 16.0% | -26.5% |
| Q1 26 | — | -2.0% | ||
| Q4 25 | 10.5% | 8.1% | ||
| Q3 25 | 4.6% | 0.4% | ||
| Q2 25 | 16.0% | -5.1% | ||
| Q1 25 | 81.4% | -8.9% | ||
| Q4 24 | 16.8% | 9.2% | ||
| Q3 24 | 16.1% | 18.8% | ||
| Q2 24 | 16.9% | -23.5% |
| Q1 26 | — | $-0.01 | ||
| Q4 25 | $0.18 | $0.05 | ||
| Q3 25 | $0.07 | $0.00 | ||
| Q2 25 | $0.33 | $-0.03 | ||
| Q1 25 | $1.60 | $-0.05 | ||
| Q4 24 | $0.28 | $0.07 | ||
| Q3 24 | $0.25 | $0.10 | ||
| Q2 24 | $0.28 | $-0.12 |
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 | $40.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $58.5M | $70.2M |
| Total Assets | $92.3M | $83.2M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $40.5M | ||
| Q4 25 | $3.0M | $44.5M | ||
| Q3 25 | $4.5M | $45.3M | ||
| Q2 25 | $4.7M | $45.0M | ||
| Q1 25 | $5.5M | $42.2M | ||
| Q4 24 | $9.7M | $42.1M | ||
| Q3 24 | $16.2M | $39.6M | ||
| Q2 24 | $18.3M | $36.8M |
| Q1 26 | — | $70.2M | ||
| Q4 25 | $58.5M | $68.9M | ||
| Q3 25 | $56.3M | $65.8M | ||
| Q2 25 | $55.6M | $64.1M | ||
| Q1 25 | $51.8M | $63.0M | ||
| Q4 24 | $36.2M | $62.6M | ||
| Q3 24 | $33.2M | $59.3M | ||
| Q2 24 | $39.8M | $55.4M |
| Q1 26 | — | $83.2M | ||
| Q4 25 | $92.3M | $84.6M | ||
| Q3 25 | $93.2M | $80.3M | ||
| Q2 25 | $93.7M | $78.9M | ||
| Q1 25 | $86.4M | $80.2M | ||
| Q4 24 | $77.8M | $77.8M | ||
| Q3 24 | $84.3M | $72.6M | ||
| Q2 24 | $83.3M | $64.6M |
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 | $570.0K |
| Free Cash FlowOCF − Capex | $-1.1M | — |
| FCF MarginFCF / Revenue | -6.6% | — |
| Capex IntensityCapex / Revenue | 3.6% | — |
| Cash ConversionOCF / Net Profit | -0.29× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-5.5M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $570.0K | ||
| Q4 25 | $-523.0K | $2.6M | ||
| Q3 25 | $1.2M | $881.0K | ||
| Q2 25 | $-155.0K | $5.0M | ||
| Q1 25 | $-3.6M | $1.4M | ||
| Q4 24 | $3.8M | $3.8M | ||
| Q3 24 | $-1.5M | $2.8M | ||
| Q2 24 | $7.5M | $1.7M |
| Q1 26 | — | — | ||
| Q4 25 | $-1.1M | $-975.0K | ||
| Q3 25 | $385.0K | $543.0K | ||
| Q2 25 | $-786.0K | $3.0M | ||
| Q1 25 | $-4.0M | $527.0K | ||
| Q4 24 | $3.3M | $2.1M | ||
| Q3 24 | $-1.8M | $2.8M | ||
| Q2 24 | $6.7M | $1.7M |
| Q1 26 | — | — | ||
| Q4 25 | -6.6% | -6.6% | ||
| Q3 25 | 2.8% | 3.9% | ||
| Q2 25 | -3.9% | 22.9% | ||
| Q1 25 | -20.9% | 4.0% | ||
| Q4 24 | 20.8% | 15.8% | ||
| Q3 24 | -11.8% | 22.9% | ||
| Q2 24 | 42.8% | 15.9% |
| Q1 26 | — | — | ||
| Q4 25 | 3.6% | 24.3% | ||
| Q3 25 | 5.6% | 2.4% | ||
| Q2 25 | 3.2% | 15.1% | ||
| Q1 25 | 1.7% | 6.9% | ||
| Q4 24 | 3.3% | 13.2% | ||
| Q3 24 | 2.2% | 0.5% | ||
| Q2 24 | 5.3% | 0.3% |
| Q1 26 | — | — | ||
| Q4 25 | -0.29× | 2.19× | ||
| Q3 25 | 1.83× | 16.31× | ||
| Q2 25 | -0.05× | — | ||
| Q1 25 | -0.24× | — | ||
| Q4 24 | 1.44× | 3.16× | ||
| Q3 24 | -0.60× | 1.25× | ||
| Q2 24 | 2.85× | — |
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% |
MRAM
| Product sales | $14.1M | 95% |
| Licensing, royalty, patent, engineering services and other revenue | $772.0K | 5% |
