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Side-by-side financial comparison of FREQUENCY ELECTRONICS INC (FEIM) and NextPlat Corp (NXPL). Click either name above to swap in a different company.
FREQUENCY ELECTRONICS INC is the larger business by last-quarter revenue ($17.1M vs $12.8M, roughly 1.3× NextPlat Corp). FREQUENCY ELECTRONICS INC runs the higher net margin — 10.5% vs -40.2%, a 50.7% gap on every dollar of revenue. On growth, FREQUENCY ELECTRONICS INC posted the faster year-over-year revenue change (8.3% vs -21.1%). NextPlat Corp produced more free cash flow last quarter ($-339.0K vs $-1.1M). Over the past eight quarters, FREQUENCY ELECTRONICS INC's revenue compounded faster (11.8% CAGR vs -14.4%).
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.
FEIM vs NXPL — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $17.1M | $12.8M |
| Net Profit | $1.8M | $-5.1M |
| Gross Margin | 38.2% | 14.3% |
| Operating Margin | 10.0% | -28.9% |
| Net Margin | 10.5% | -40.2% |
| Revenue YoY | 8.3% | -21.1% |
| Net Profit YoY | -32.1% | -70.6% |
| 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 | $12.8M | ||
| Q3 25 | $13.8M | $13.8M | ||
| Q2 25 | $20.0M | $13.2M | ||
| Q1 25 | $18.9M | $14.5M | ||
| Q4 24 | $15.8M | $16.2M | ||
| Q3 24 | $15.1M | $15.4M | ||
| Q2 24 | $15.6M | $17.0M | ||
| Q1 24 | $13.7M | $17.5M |
| Q4 25 | $1.8M | $-5.1M | ||
| Q3 25 | $634.0K | $-2.2M | ||
| Q2 25 | $3.2M | $-1.8M | ||
| Q1 25 | $15.4M | $-1.3M | ||
| Q4 24 | $2.7M | $-3.0M | ||
| Q3 24 | $2.4M | $-4.2M | ||
| Q2 24 | $2.6M | $-5.3M | ||
| Q1 24 | $130.0K | $-1.5M |
| Q4 25 | 38.2% | 14.3% | ||
| Q3 25 | 36.8% | 19.9% | ||
| Q2 25 | 37.5% | 21.8% | ||
| Q1 25 | 43.8% | 23.8% | ||
| Q4 24 | 48.2% | 16.8% | ||
| Q3 24 | 44.4% | 23.2% | ||
| Q2 24 | 40.3% | 34.5% | ||
| Q1 24 | 22.6% | 27.8% |
| Q4 25 | 10.0% | -28.9% | ||
| Q3 25 | 2.6% | -14.5% | ||
| Q2 25 | 16.4% | -13.8% | ||
| Q1 25 | 18.3% | -10.2% | ||
| Q4 24 | 16.5% | -14.1% | ||
| Q3 24 | 15.7% | -52.1% | ||
| Q2 24 | 16.0% | -64.1% | ||
| Q1 24 | -3.4% | -10.5% |
| Q4 25 | 10.5% | -40.2% | ||
| Q3 25 | 4.6% | -15.9% | ||
| Q2 25 | 16.0% | -13.5% | ||
| Q1 25 | 81.4% | -9.2% | ||
| Q4 24 | 16.8% | -18.6% | ||
| Q3 24 | 16.1% | -27.4% | ||
| Q2 24 | 16.9% | -31.3% | ||
| Q1 24 | 0.9% | -8.5% |
| Q4 25 | $0.18 | — | ||
| Q3 25 | $0.07 | — | ||
| Q2 25 | $0.33 | — | ||
| Q1 25 | $1.60 | $-0.05 | ||
| Q4 24 | $0.28 | — | ||
| Q3 24 | $0.25 | $-0.22 | ||
| Q2 24 | $0.28 | — | ||
| Q1 24 | $0.01 | $-0.08 |
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 | $13.7M |
| Total DebtLower is stronger | — | $1.3M |
| Stockholders' EquityBook value | $58.5M | $17.3M |
| Total Assets | $92.3M | $27.5M |
| Debt / EquityLower = less leverage | — | 0.07× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $3.0M | $13.7M | ||
| Q3 25 | $4.5M | $13.9M | ||
| Q2 25 | $4.7M | $16.6M | ||
| Q1 25 | $5.5M | $17.7M | ||
| Q4 24 | $9.7M | $20.0M | ||
| Q3 24 | $16.2M | $20.4M | ||
| Q2 24 | $18.3M | $24.9M | ||
| Q1 24 | $11.7M | $23.5M |
| Q4 25 | — | $1.3M | ||
| Q3 25 | — | $1.2M | ||
| Q2 25 | — | $1.2M | ||
| Q1 25 | — | $1.3M | ||
| Q4 24 | — | $1.4M | ||
| Q3 24 | — | $1.5M | ||
| Q2 24 | — | $1.3M | ||
| Q1 24 | — | $1.4M |
| Q4 25 | $58.5M | $17.3M | ||
| Q3 25 | $56.3M | $21.4M | ||
| Q2 25 | $55.6M | $23.5M | ||
| Q1 25 | $51.8M | $25.3M | ||
| Q4 24 | $36.2M | $27.3M | ||
| Q3 24 | $33.2M | $22.5M | ||
| Q2 24 | $39.8M | $26.5M | ||
| Q1 24 | $36.7M | $31.2M |
| Q4 25 | $92.3M | $27.5M | ||
| Q3 25 | $93.2M | $30.0M | ||
| Q2 25 | $93.7M | $31.0M | ||
| Q1 25 | $86.4M | $35.2M | ||
| Q4 24 | $77.8M | $37.1M | ||
| Q3 24 | $84.3M | $41.1M | ||
| Q2 24 | $83.3M | $51.5M | ||
| Q1 24 | $77.7M | $65.1M |
| Q4 25 | — | 0.07× | ||
| Q3 25 | — | 0.05× | ||
| Q2 25 | — | 0.05× | ||
| Q1 25 | — | 0.05× | ||
| Q4 24 | — | 0.05× | ||
| Q3 24 | — | 0.07× | ||
| Q2 24 | — | 0.05× | ||
| Q1 24 | — | 0.04× |
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 | $-302.0K |
| Free Cash FlowOCF − Capex | $-1.1M | $-339.0K |
| FCF MarginFCF / Revenue | -6.6% | -2.6% |
| Capex IntensityCapex / Revenue | 3.6% | 0.3% |
| Cash ConversionOCF / Net Profit | -0.29× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-5.5M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-523.0K | $-302.0K | ||
| Q3 25 | $1.2M | $-2.7M | ||
| Q2 25 | $-155.0K | $-1.0M | ||
| Q1 25 | $-3.6M | $-2.1M | ||
| Q4 24 | $3.8M | $-476.0K | ||
| Q3 24 | $-1.5M | $-4.6M | ||
| Q2 24 | $7.5M | $2.3M | ||
| Q1 24 | $4.2M | $-2.7M |
| Q4 25 | $-1.1M | $-339.0K | ||
| Q3 25 | $385.0K | — | ||
| Q2 25 | $-786.0K | $-1.1M | ||
| Q1 25 | $-4.0M | $-2.1M | ||
| Q4 24 | $3.3M | $-508.0K | ||
| Q3 24 | $-1.8M | $-4.7M | ||
| Q2 24 | $6.7M | $2.2M | ||
| Q1 24 | $3.9M | $-2.7M |
| Q4 25 | -6.6% | -2.6% | ||
| Q3 25 | 2.8% | — | ||
| Q2 25 | -3.9% | -8.0% | ||
| Q1 25 | -20.9% | -14.3% | ||
| Q4 24 | 20.8% | -3.1% | ||
| Q3 24 | -11.8% | -30.6% | ||
| Q2 24 | 42.8% | 13.2% | ||
| Q1 24 | 28.4% | -15.7% |
| Q4 25 | 3.6% | 0.3% | ||
| Q3 25 | 5.6% | 0.0% | ||
| Q2 25 | 3.2% | 0.1% | ||
| Q1 25 | 1.7% | 0.2% | ||
| Q4 24 | 3.3% | 0.2% | ||
| Q3 24 | 2.2% | 0.6% | ||
| Q2 24 | 5.3% | 0.4% | ||
| Q1 24 | 2.3% | 0.4% |
| 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% |
NXPL
| Healthcare Operations | $9.0M | 70% |
| Ecommerce Revenue | $3.8M | 30% |
