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Side-by-side financial comparison of FREQUENCY ELECTRONICS INC (FEIM) and NORTECH SYSTEMS INC (NSYS). Click either name above to swap in a different company.
NORTECH SYSTEMS INC is the larger business by last-quarter revenue ($30.3M vs $17.1M, roughly 1.8× FREQUENCY ELECTRONICS INC). FREQUENCY ELECTRONICS INC runs the higher net margin — 10.5% vs 3.0%, a 7.6% gap on every dollar of revenue. On growth, FREQUENCY ELECTRONICS INC posted the faster year-over-year revenue change (8.3% vs 5.9%). NORTECH SYSTEMS INC produced more free cash flow last quarter ($5.5M vs $-1.1M). Over the past eight quarters, FREQUENCY ELECTRONICS INC's revenue compounded faster (11.8% CAGR vs -5.9%).
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.
Nortech Systems Inc is a global electronics manufacturing services provider. It delivers end-to-end solutions covering product design, prototyping, full-scale production, and supply chain management for clients operating in medical technology, industrial automation, aerospace and defense, and transportation sectors. It specializes in high-reliability, regulatory-compliant electronic components and assemblies tailored to strict industry standards.
FEIM vs NSYS — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $17.1M | $30.3M |
| Net Profit | $1.8M | $897.0K |
| Gross Margin | 38.2% | 16.7% |
| Operating Margin | 10.0% | 3.0% |
| Net Margin | 10.5% | 3.0% |
| Revenue YoY | 8.3% | 5.9% |
| Net Profit YoY | -32.1% | 160.7% |
| EPS (diluted) | $0.18 | $0.32 |
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 | $30.3M | ||
| Q3 25 | $13.8M | $30.5M | ||
| Q2 25 | $20.0M | $30.7M | ||
| Q1 25 | $18.9M | $26.9M | ||
| Q4 24 | $15.8M | $28.6M | ||
| Q3 24 | $15.1M | $31.4M | ||
| Q2 24 | $15.6M | $33.9M | ||
| Q1 24 | $13.7M | $34.2M |
| Q4 25 | $1.8M | $897.0K | ||
| Q3 25 | $634.0K | $-146.0K | ||
| Q2 25 | $3.2M | $313.0K | ||
| Q1 25 | $15.4M | $-1.3M | ||
| Q4 24 | $2.7M | $-1.5M | ||
| Q3 24 | $2.4M | $-739.0K | ||
| Q2 24 | $2.6M | $157.0K | ||
| Q1 24 | $130.0K | $765.0K |
| Q4 25 | 38.2% | 16.7% | ||
| Q3 25 | 36.8% | 16.5% | ||
| Q2 25 | 37.5% | 15.8% | ||
| Q1 25 | 43.8% | 11.4% | ||
| Q4 24 | 48.2% | 9.9% | ||
| Q3 24 | 44.4% | 12.2% | ||
| Q2 24 | 40.3% | 13.6% | ||
| Q1 24 | 22.6% | 15.9% |
| Q4 25 | 10.0% | 3.0% | ||
| Q3 25 | 2.6% | 3.1% | ||
| Q2 25 | 16.4% | 2.4% | ||
| Q1 25 | 18.3% | -6.0% | ||
| Q4 24 | 16.5% | -4.3% | ||
| Q3 24 | 15.7% | -1.5% | ||
| Q2 24 | 16.0% | 1.0% | ||
| Q1 24 | -3.4% | 3.4% |
| Q4 25 | 10.5% | 3.0% | ||
| Q3 25 | 4.6% | -0.5% | ||
| Q2 25 | 16.0% | 1.0% | ||
| Q1 25 | 81.4% | -4.9% | ||
| Q4 24 | 16.8% | -5.2% | ||
| Q3 24 | 16.1% | -2.4% | ||
| Q2 24 | 16.9% | 0.5% | ||
| Q1 24 | 0.9% | 2.2% |
| Q4 25 | $0.18 | $0.32 | ||
| Q3 25 | $0.07 | $-0.05 | ||
| Q2 25 | $0.33 | $0.12 | ||
| Q1 25 | $1.60 | $-0.48 | ||
| Q4 24 | $0.28 | $-0.51 | ||
| Q3 24 | $0.25 | $-0.27 | ||
| Q2 24 | $0.28 | $0.05 | ||
| Q1 24 | $0.01 | $0.26 |
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 | $1.7M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $58.5M | $34.5M |
| Total Assets | $92.3M | $71.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $3.0M | $1.7M | ||
| Q3 25 | $4.5M | $1.3M | ||
| Q2 25 | $4.7M | $652.0K | ||
| Q1 25 | $5.5M | $1.2M | ||
| Q4 24 | $9.7M | $916.0K | ||
| Q3 24 | $16.2M | $1.2M | ||
| Q2 24 | $18.3M | $1.5M | ||
| Q1 24 | $11.7M | $4.0M |
| Q4 25 | $58.5M | $34.5M | ||
| Q3 25 | $56.3M | $33.4M | ||
| Q2 25 | $55.6M | $33.4M | ||
| Q1 25 | $51.8M | $32.8M | ||
| Q4 24 | $36.2M | $34.0M | ||
| Q3 24 | $33.2M | $35.7M | ||
| Q2 24 | $39.8M | $36.1M | ||
| Q1 24 | $36.7M | $36.0M |
| Q4 25 | $92.3M | $71.9M | ||
| Q3 25 | $93.2M | $74.8M | ||
| Q2 25 | $93.7M | $74.8M | ||
| Q1 25 | $86.4M | $73.5M | ||
| Q4 24 | $77.8M | $72.4M | ||
| Q3 24 | $84.3M | $77.0M | ||
| Q2 24 | $83.3M | $76.3M | ||
| Q1 24 | $77.7M | $75.5M |
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 | $5.6M |
| Free Cash FlowOCF − Capex | $-1.1M | $5.5M |
| FCF MarginFCF / Revenue | -6.6% | 18.0% |
| Capex IntensityCapex / Revenue | 3.6% | 0.5% |
| Cash ConversionOCF / Net Profit | -0.29× | 6.25× |
| TTM Free Cash FlowTrailing 4 quarters | $-5.5M | $2.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-523.0K | $5.6M | ||
| Q3 25 | $1.2M | $-92.0K | ||
| Q2 25 | $-155.0K | $157.0K | ||
| Q1 25 | $-3.6M | $-2.9M | ||
| Q4 24 | $3.8M | $793.0K | ||
| Q3 24 | $-1.5M | $-1.6M | ||
| Q2 24 | $7.5M | $-4.3M | ||
| Q1 24 | $4.2M | $2.8M |
| Q4 25 | $-1.1M | $5.5M | ||
| Q3 25 | $385.0K | $-242.0K | ||
| Q2 25 | $-786.0K | $58.0K | ||
| Q1 25 | $-4.0M | $-3.2M | ||
| Q4 24 | $3.3M | $503.0K | ||
| Q3 24 | $-1.8M | $-1.6M | ||
| Q2 24 | $6.7M | $-4.6M | ||
| Q1 24 | $3.9M | $2.1M |
| Q4 25 | -6.6% | 18.0% | ||
| Q3 25 | 2.8% | -0.8% | ||
| Q2 25 | -3.9% | 0.2% | ||
| Q1 25 | -20.9% | -11.9% | ||
| Q4 24 | 20.8% | 1.8% | ||
| Q3 24 | -11.8% | -5.2% | ||
| Q2 24 | 42.8% | -13.5% | ||
| Q1 24 | 28.4% | 6.1% |
| Q4 25 | 3.6% | 0.5% | ||
| Q3 25 | 5.6% | 0.5% | ||
| Q2 25 | 3.2% | 0.3% | ||
| Q1 25 | 1.7% | 1.0% | ||
| Q4 24 | 3.3% | 1.0% | ||
| Q3 24 | 2.2% | 0.1% | ||
| Q2 24 | 5.3% | 0.8% | ||
| Q1 24 | 2.3% | 2.2% |
| Q4 25 | -0.29× | 6.25× | ||
| Q3 25 | 1.83× | — | ||
| Q2 25 | -0.05× | 0.50× | ||
| Q1 25 | -0.24× | — | ||
| Q4 24 | 1.44× | — | ||
| Q3 24 | -0.60× | — | ||
| Q2 24 | 2.85× | -27.30× | ||
| Q1 24 | 32.36× | 3.70× |
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% |
NSYS
| Medical Imaging | $11.4M | 37% |
| Medical Device | $8.0M | 26% |
| Industrial | $7.3M | 24% |
| Aerospace And Defense | $3.7M | 12% |
