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Side-by-side financial comparison of FREQUENCY ELECTRONICS INC (FEIM) and SWK Holdings Corp (SWKH). Click either name above to swap in a different company.
FREQUENCY ELECTRONICS INC is the larger business by last-quarter revenue ($17.1M vs $8.7M, roughly 2.0× SWK Holdings Corp). On growth, FREQUENCY ELECTRONICS INC posted the faster year-over-year revenue change (8.3% vs -29.7%). SWK Holdings Corp produced more free cash flow last quarter ($26.8M vs $-1.1M). Over the past eight quarters, FREQUENCY ELECTRONICS INC's revenue compounded faster (11.8% CAGR vs -12.5%).
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.
SWK Holdings Corp is a specialty finance firm focused on the healthcare and life sciences sectors. It provides tailored financing solutions including royalty monetization, structured debt, and asset-backed lending to biotech, pharmaceutical, medical device and diagnostic companies, with its core market centered in North America.
FEIM vs SWKH — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $17.1M | $8.7M |
| Net Profit | $1.8M | $-19.4M |
| Gross Margin | 38.2% | — |
| Operating Margin | 10.0% | 9.9% |
| Net Margin | 10.5% | — |
| Revenue YoY | 8.3% | -29.7% |
| Net Profit YoY | -32.1% | -430.2% |
| EPS (diluted) | $0.18 | $-1.59 |
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 | $8.7M | ||
| Q3 25 | $13.8M | $10.9M | ||
| Q2 25 | $20.0M | $10.1M | ||
| Q1 25 | $18.9M | $11.8M | ||
| Q4 24 | $15.8M | $12.4M | ||
| Q3 24 | $15.1M | $10.4M | ||
| Q2 24 | $15.6M | $10.8M | ||
| Q1 24 | $13.7M | $11.4M |
| Q4 25 | $1.8M | $-19.4M | ||
| Q3 25 | $634.0K | $8.8M | ||
| Q2 25 | $3.2M | $3.5M | ||
| Q1 25 | $15.4M | $4.5M | ||
| Q4 24 | $2.7M | $5.9M | ||
| Q3 24 | $2.4M | $3.5M | ||
| Q2 24 | $2.6M | $3.7M | ||
| Q1 24 | $130.0K | $468.0K |
| 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% | 9.9% | ||
| Q3 25 | 2.6% | 61.3% | ||
| Q2 25 | 16.4% | 46.1% | ||
| Q1 25 | 18.3% | 68.6% | ||
| Q4 24 | 16.5% | 44.7% | ||
| Q3 24 | 15.7% | 39.2% | ||
| Q2 24 | 16.0% | 8.3% | ||
| Q1 24 | -3.4% | 9.5% |
| Q4 25 | 10.5% | — | ||
| Q3 25 | 4.6% | 80.7% | ||
| Q2 25 | 16.0% | 35.2% | ||
| Q1 25 | 81.4% | 38.4% | ||
| Q4 24 | 16.8% | 47.5% | ||
| Q3 24 | 16.1% | 33.3% | ||
| Q2 24 | 16.9% | 33.9% | ||
| Q1 24 | 0.9% | 4.1% |
| Q4 25 | $0.18 | $-1.59 | ||
| Q3 25 | $0.07 | $0.72 | ||
| Q2 25 | $0.33 | $0.29 | ||
| Q1 25 | $1.60 | $0.37 | ||
| Q4 24 | $0.28 | $0.47 | ||
| Q3 24 | $0.25 | $0.28 | ||
| Q2 24 | $0.28 | $0.30 | ||
| Q1 24 | $0.01 | $0.04 |
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 | $42.8M |
| Total DebtLower is stronger | — | $33.0M |
| Stockholders' EquityBook value | $58.5M | $235.1M |
| Total Assets | $92.3M | $272.4M |
| Debt / EquityLower = less leverage | — | 0.14× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $3.0M | $42.8M | ||
| Q3 25 | $4.5M | $10.2M | ||
| Q2 25 | $4.7M | $8.0M | ||
| Q1 25 | $5.5M | $29.8M | ||
| Q4 24 | $9.7M | $5.9M | ||
| Q3 24 | $16.2M | $17.2M | ||
| Q2 24 | $18.3M | $5.5M | ||
| Q1 24 | $11.7M | $5.5M |
| Q4 25 | — | $33.0M | ||
| Q3 25 | — | $33.0M | ||
| Q2 25 | — | $33.0M | ||
| Q1 25 | — | $33.0M | ||
| Q4 24 | — | $33.0M | ||
| Q3 24 | — | $33.0M | ||
| Q2 24 | — | $33.0M | ||
| Q1 24 | — | $33.0M |
| Q4 25 | $58.5M | $235.1M | ||
| Q3 25 | $56.3M | $254.2M | ||
| Q2 25 | $55.6M | $246.5M | ||
| Q1 25 | $51.8M | $292.7M | ||
| Q4 24 | $36.2M | $288.7M | ||
| Q3 24 | $33.2M | $283.4M | ||
| Q2 24 | $39.8M | $282.8M | ||
| Q1 24 | $36.7M | $279.9M |
| Q4 25 | $92.3M | $272.4M | ||
| Q3 25 | $93.2M | $289.4M | ||
| Q2 25 | $93.7M | $285.7M | ||
| Q1 25 | $86.4M | $331.3M | ||
| Q4 24 | $77.8M | $332.2M | ||
| Q3 24 | $84.3M | $321.3M | ||
| Q2 24 | $83.3M | $321.0M | ||
| Q1 24 | $77.7M | $322.0M |
| Q4 25 | — | 0.14× | ||
| Q3 25 | — | 0.13× | ||
| Q2 25 | — | 0.13× | ||
| Q1 25 | — | 0.11× | ||
| Q4 24 | — | 0.11× | ||
| Q3 24 | — | 0.12× | ||
| Q2 24 | — | 0.12× | ||
| Q1 24 | — | 0.12× |
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 | $27.3M |
| Free Cash FlowOCF − Capex | $-1.1M | $26.8M |
| FCF MarginFCF / Revenue | -6.6% | 308.1% |
| Capex IntensityCapex / Revenue | 3.6% | 5.9% |
| Cash ConversionOCF / Net Profit | -0.29× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-5.5M | $43.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-523.0K | $27.3M | ||
| Q3 25 | $1.2M | $906.0K | ||
| Q2 25 | $-155.0K | $7.8M | ||
| Q1 25 | $-3.6M | $8.3M | ||
| Q4 24 | $3.8M | $23.0M | ||
| Q3 24 | $-1.5M | $6.3M | ||
| Q2 24 | $7.5M | $5.4M | ||
| Q1 24 | $4.2M | $4.4M |
| Q4 25 | $-1.1M | $26.8M | ||
| Q3 25 | $385.0K | $557.0K | ||
| Q2 25 | $-786.0K | $7.7M | ||
| Q1 25 | $-4.0M | $8.2M | ||
| Q4 24 | $3.3M | $22.9M | ||
| Q3 24 | $-1.8M | $6.3M | ||
| Q2 24 | $6.7M | $5.4M | ||
| Q1 24 | $3.9M | — |
| Q4 25 | -6.6% | 308.1% | ||
| Q3 25 | 2.8% | 5.1% | ||
| Q2 25 | -3.9% | 77.0% | ||
| Q1 25 | -20.9% | 69.1% | ||
| Q4 24 | 20.8% | 185.3% | ||
| Q3 24 | -11.8% | 60.4% | ||
| Q2 24 | 42.8% | 49.7% | ||
| Q1 24 | 28.4% | — |
| Q4 25 | 3.6% | 5.9% | ||
| Q3 25 | 5.6% | 3.2% | ||
| Q2 25 | 3.2% | 0.6% | ||
| Q1 25 | 1.7% | 0.8% | ||
| Q4 24 | 3.3% | 1.1% | ||
| Q3 24 | 2.2% | 0.3% | ||
| Q2 24 | 5.3% | 0.2% | ||
| Q1 24 | 2.3% | 0.0% |
| Q4 25 | -0.29× | — | ||
| Q3 25 | 1.83× | 0.10× | ||
| Q2 25 | -0.05× | 2.21× | ||
| Q1 25 | -0.24× | 1.82× | ||
| Q4 24 | 1.44× | 3.93× | ||
| Q3 24 | -0.60× | 1.82× | ||
| Q2 24 | 2.85× | 1.47× | ||
| Q1 24 | 32.36× | 9.47× |
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% |
SWKH
| Finance Receivables Segment | $8.4M | 96% |
| Other | $329.0K | 4% |
