RF Industries, Ltd. (RFIL) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q1 26	$0.03	$0.06	+100.0%	—	$19M	—
Q4 25	$0.09	$0.2	+122.2%	—	$22.7M	—
Q3 25	$0.06	$0.1	+66.7%	—	$19.8M	—
Q2 25	$0.04	$0.07	+75.0%	—	$18.9M	—
Q1 25	$0.03	$0.04	+33.3%	—	$19.2M	—
Q4 24	$0.06	$0.04	-33.3%	—	$18.5M	—
Q3 24	$0.06	-$0.01	-116.7%	—	$16.8M	—
Q2 24	-$0.02	$0.01	+150.0%	—	$16.1M	—
Q1 24	-$0.06	-$0.06	0.0%	—	$13.5M	—
Q4 23	-$0.04	-$0.01	+75.0%	—	$15.9M	—
Q3 23	$0.08	-$0.08	-200.0%	—	$15.7M	—
Q2 23	$0.03	$0.13	+333.3%	—	$22.3M	—
Q4 22	$0.11	$0.15	+36.4%	—	$23M	—
Q3 22	$0.13	$0.12	-7.7%	—	$23.8M	—
Q2 22	$0.07	$0.13	+85.7%	—	$21.5M	—
Q1 22	$0.04	$0.06	+50.0%	—	$16.9M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$0.01	—	—	$80.6M	—
FY24	—	-$0.63	—	—	$64.9M	—
FY23	—	-$0.3	—	—	$72.2M	—
FY22	—	$0.14	—	—	$85.3M

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$30.2M	$23M	$50.2M	$55.3M	$43M	$57.4M	$85.3M	$72.2M	$64.9M	$80.6M
YoY change	-2.16%	-24%	+118.4%	+10.2%	-22.2%	+33.4%	+48.5%	-15.3%	-10.1%	+24.3%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	30.2M	23M	50.2M	55.3M	43M	57.4M	85.3M	72.2M	64.9M	80.6M
Cost of revenue	21.8M	16M	33.1M	39.7M	31.5M	39.7M	60.7M	52.6M	46M	53.9M
Gross profit	8.5M	7M	17.1M	15.6M	11.6M	17.8M	24.5M	19.5M	18.9M	26.7M
Gross margin	28%	30.4%	34.1%	28.3%	26.9%	30.9%	28.8%	27.1%	29.1%	33.2%
Research & development	747K	824K	1.5M	1.5M	2M	1.5M	2.9M	3.2M	2.8M	3M
Selling, general & administrative	9.6M	6M	8.2M	9.7M	10M	11.9M	19.4M	20.2M	18.9M	22M
Operating expenses	11.1M	7.6M	11.1M	12.6M	12M	13.4M	22.4M	23.3M	21.7M	25M
Operating income	-1.8M	203K	7.4M	4.5M	-403K	4.4M	2.2M	-3.8M	-2.8M	1.8M
Operating margin	-6.1%	0.88%	14.8%	8.06%	-0.94%	7.69%	2.57%	-5.26%	-4.35%	2.22%
Non-operating income, net	-2.8M	29K	47K	98K	-45K	2.8M	-601K	-453K	-980K	-972K
Pretax income	-4.7M	232K	7.5M	4.6M	-448K	7.2M	1.6M	-4.3M	-3.8M	813K
Income tax	-652K	62K	1.5M	1M	-367K	1M	139K	-1.2M	2.8M	738K
Net income	-4.1M	382K	5.8M	3.5M	-81K	6.2M	1.4M	-3.1M	-6.6M	75K
Net margin	-13.5%	1.66%	11.6%	6.36%	-0.19%	10.8%	1.7%	-4.27%	-10.2%	0.09%
EBITDA	2M	709K	8M	5M	611K	5.2M	3.9M	-1.4M	-287K	4.2M
EPS	-0.47	0.04	0.64	0.38	-0.01	0.62	0.14	-0.3	-0.63	0.01
Diluted EPS	-0.47	0.04	0.61	0.36	-0.01	0.61	0.14	-0.3	-0.63	0.01

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	15.7M	15.9M	13.5M	16.1M	16.8M	18.5M	19.2M	18.9M	19.8M	22.7M	19M	20.7M
Cost of revenue	11.8M	11.4M	10.2M	11.3M	11.9M	12.7M	13.5M	13M	13.1M	14.3M	12.8M	13.4M
Gross profit	3.8M	4.5M	3.3M	4.8M	5M	5.8M	5.7M	6M	6.7M	8.3M	6.1M	7.3M
Gross margin	24.4%	28.4%	24.5%	29.9%	29.5%	31.3%	29.8%	31.5%	34%	36.8%	32.3%	35.1%
Research & development	690K	616K	769K	637K	653K	723K	682K	683K	759K	858K	852K	915K
Selling, general & administrative	5.1M	5M	4.6M	4.6M	4.7M	5M	5M	5.2M	5.2M	6.6M	5.1M	5.3M
Operating expenses	5.8M	5.6M	5.4M	5.2M	5.4M	5.7M	5.7M	5.8M	6M	7.4M	5.9M	6.2M
Operating income	-2M	-1.1M	-2.1M	-415K	-419K	96K	56K	106K	720K	903K	177K	1.1M
Operating margin	-12.8%	-6.97%	-15.5%	-2.58%	-2.49%	0.52%	0.29%	0.56%	3.64%	3.98%	0.93%	5.31%
Non-operating income, net	-117K	-111K	-108K	-230K	-338K	-304K	-265K	-216K	-240K	-251K	-193K	-159K
Pretax income	-2.1M	-1.2M	-2.2M	-645K	-757K	-208K	-209K	-110K	480K	652K	-16K	939K
Income tax	-482K	-366K	-831K	3.6M	-52K	30K	36K	135K	88K	479K	34K	60K
Net income	-1.6M	-852K	-1.4M	-4.3M	-705K	-238K	-245K	-245K	392K	173K	-50K	879K
Net margin	-10.5%	-5.37%	-10.1%	-26.7%	-4.19%	-1.29%	-1.28%	-1.3%	1.98%	0.76%	-0.26%	4.25%
EBITDA	-1.4M	-469K	-1.5M	218K	219K	728K	672K	721K	1.3M	1.5M	795K	1.7M
EPS	-0.16	-0.08	-0.13	-0.41	-0.07	-0.02	-0.02	-0.02	0.04	0.02	0	0.08
Diluted EPS	-0.16	-0.08	-0.13	-0.41	-0.07	-0.02	-0.02	-0.02	0.04	0.02	0	0.08

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	15.4M	21.7M	70.7M	55.6M	41.4M	76.4M	54.8M	30.4M	43.4M	83.3M	85.9M
Enterprise value	10.1M	16.5M	54.3M	43.1M	29.1M	64.8M	82.7M	60.3M	71.3M	104.8M	108.2M
Shares outstanding	8.8M	8.8M	9.1M	9.4M	9.7M	10M	10.1M	10.3M	10.5M	10.6M	10.6M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	—	56.7	12.1	15.8	—	12.4	37.8	—	—	1.1K	36.4
P/S	0.51	0.94	1.41	1	0.96	1.33	0.64	0.42	0.67	1.03	1.01
P/B	0.72	1.01	2.54	1.76	1.29	1.93	1.31	0.77	1.27	2.37	2.25
EV/EBITDA	4.97	23.2	6.82	8.57	47.5	12.5	21.3	-44.2	-248.4	24.7	15.2
EV/Sales	0.33	0.72	1.08	0.78	0.67	1.13	0.97	0.84	1.1	1.3	1.25
Earnings yield	—	1.76%	8.27%	6.33%	—	8.09%	2.64%	—	—	0.09%	2.75%
FCF yield	-10.7%	6.59%	8.42%	-5.84%	10.4%	-4.39%	0.4%	5.59%	5.59%	5.22%	4.83%
PEG	—	—	—	—	—	—	—	—	—	—	-0.07

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	28%	30.4%	34.1%	28.3%	26.9%	30.9%	28.8%	27.1%	29.1%	33.2%	35.1%
Operating margin	-6.1%	0.88%	14.8%	8.06%	-0.94%	7.69%	2.57%	-5.26%	-4.35%	2.22%	6.09%
Net margin	-13.5%	1.66%	11.6%	6.36%	-0.19%	10.8%	1.7%	-4.27%	-10.2%	0.09%	2.83%
ROE	-19.1%	1.79%	21%	11.2%	-0.25%	15.6%	3.46%	-7.74%	-19.4%	0.21%	6.67%
ROA	-15.8%	1.52%	18%	9.34%	-0.2%	12.4%	1.62%	-3.74%	-9.29%	0.1%	4.01%
ROIC	-11.4%	0.92%	52.3%	18.1%	-2.05%	13.5%	2.86%	-5.45%	-4.56%	0.29%	3.42%
Return on tangible assets	-42.2%	2.15%	22.7%	11.2%	-0.3%	16.8%	3.58%	-8.42%	-23%	0.22%	4.08%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	4.3	4.67	6.05	5.54	4.63	4.34	2.37	2.88	1.61	1.67	2.02
Quick ratio	2.76	3.13	4.54	4.18	3.34	3.15	1.29	1.38	0.8	1.02	1.11
Debt / equity	—	—	—	0	0.11	0.04	0.78	0.87	0.84	0.76	0.6
Debt / assets	—	—	—	0	0.08	0.03	0.36	0.42	0.4	0.36	0.34
Net debt / EBITDA	—	—	—	-2.5	-20.3	-2.23	7.2	-21.9	-97.2	5.06	3.84
Effective tax rate	0%	26.7%	19.6%	22.7%	0%	14.4%	8.76%	0%	0%	90.8%	32.2%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	3.44	2.6	5.51	5.91	4.45	5.72	8.42	7.02	6.19	7.57	8.01
EPS (basic)	-0.47	0.04	0.64	0.38	-0.01	0.62	0.14	-0.3	-0.63	0.01	0.01
EPS (diluted)	-0.47	0.04	0.61	0.36	-0.01	0.61	0.14	-0.3	-0.63	0.01	0.22
Book value per share	2.43	2.41	3.05	3.37	3.31	3.95	4.14	3.87	3.25	3.31	3.55
FCF per share	-0.19	0.16	0.65	-0.35	0.45	-0.33	0.02	0.17	0.23	0.41	0.12
Cash per share	0.6	0.59	1.79	1.34	1.63	1.3	0.45	0.48	0.08	0.48	0.45
Capex per share	0	0	0	0	—	—	—	—	—	0.02	0.04

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	0.07%	0%	0%	0%	—	—	—	—	—	0.29%	0.52%
Capex / operating cash flow	-0.49%	0%	0.03%	0%	—	—	—	—	—	5.13%	24.4%
Payout ratio	-27.9%	185.1%	12.5%	21.2%	-479%	0%	—	—	—	—	0%
Dividend yield	7.42%	3.26%	1.03%	1.35%	0.94%	0%	—	—	—	—	1.01%

Yield

1.01%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.02

ex-dividend Mar 30, 2020

Payout ratio

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Mar 30, 2020	$0.02
Dec 30, 2019	$0.02
Sep 27, 2019	$0.02
Jun 27, 2019	$0.02
Mar 28, 2019	$0.02
Dec 28, 2018	$0.02
Sep 27, 2018	$0.02
Jun 28, 2018	$0.02

Split history

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$15.7M	$15.9M	$13.5M	$16.1M	$16.8M	$18.5M	$19.2M	$18.9M	$19.8M	$22.7M	$19M	$20.7M
YoY change	-34.4%	-30.9%	-26.6%	-27.8%	+7.56%	+16.2%	+42.7%	+17.4%	+17.5%	+22.9%	-1.2%	+9.42%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	5.3M	5.2M	16.3M	12.5M	15.8M	13.1M	4.5M	4.9M	839K	5.1M
Receivables	4.1M	2.9M	4.3M	12.2M	5.7M	13.5M	14.8M	10.3M	12.1M	14.9M
Inventory	6M	5.5M	7.1M	8.2M	8.6M	11.2M	21.1M	18.7M	14.7M	13.7M
Total current assets	16.8M	16.8M	28.5M	33.7M	30.9M	40.6M	46.2M	36M	29.1M	35M
Property, plant & equipment	828K	565K	559K	839K	2.2M	2.2M	16.7M	20.6M	20.1M	18.1M
Goodwill & intangibles	16.1M	7.3M	6.7M	6.2M	13.6M	12.8M	49.1M	45.7M	42.3M	39M
Total assets	25.8M	25.1M	32.5M	37.7M	40.8M	49.6M	89.6M	82.3M	71M	73M
Accounts payable	1.1M	1M	1.3M	2.4M	1.5M	3.5M	5.7M	3.2M	3.8M	3.1M
Short-term debt	—	—	—	—	1.7M	832K	4.3M	4.7M	10M	9.9M
Total current liabilities	3.9M	3.6M	4.7M	6.1M	6.7M	9.4M	19.5M	12.5M	18.1M	20.9M
Long-term debt	—	—	—	0	1.7M	675K	28.2M	30M	18.7M	16.7M
Total liabilities	4.4M	3.7M	4.7M	6.2M	8.8M	10M	47.7M	42.5M	37M	37.8M
Shareholders' equity	21.4M	21.3M	27.8M	31.5M	32.1M	39.6M	41.9M	39.8M	34.1M	35.2M
Total debt	—	—	—	0	3.4M	1.5M	32.5M	34.7M	28.7M	26.6M
Net debt	—	—	—	-12.5M	-12.4M	-11.5M	27.9M	29.8M	27.9M	21.5M

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	4.1M	4.9M	4.5M	1.4M	1.8M	839K	1.3M	3.6M	3M	5.1M	5.1M	3.4M
Receivables	9.3M	10.3M	8.3M	10.6M	10.7M	12.1M	12.8M	15M	15.3M	14.9M	13.1M	15.6M
Inventory	20.2M	18.7M	18M	16.4M	15M	14.7M	13.5M	12.6M	14.2M	13.7M	13.8M	14.4M
Total current assets	34.8M	36M	32.9M	30.2M	29.4M	29.1M	29.5M	32.7M	34.1M	35M	33M	35.1M
Property, plant & equipment	16.9M	20.6M	20.2M	19.8M	20.2M	20.1M	19.5M	19M	18.6M	18.1M	17.7M	17.2M
Goodwill & intangibles	46.6M	45.7M	44.9M	44M	43.2M	42.3M	41.5M	40.7M	39.9M	39M	38.2M	37.4M
Total assets	78.1M	82.3M	79.1M	72.8M	71.9M	71M	70.4M	72.7M	73.2M	73M	70.3M	71.5M
Accounts payable	2.7M	3.2M	2.5M	3.2M	3.1M	3.8M	3.4M	4.8M	4.8M	3.1M	3M	4.4M
Short-term debt	4.8M	4.7M	4.3M	11.9M	10.2M	10M	9.9M	9.9M	9.9M	9.9M	9.2M	8.2M
Total current liabilities	12.1M	12.5M	11.3M	19.3M	18.4M	18.1M	17.8M	20.6M	21M	20.9M	18.4M	18.6M
Long-term debt	25.6M	30M	29.2M	18.8M	19.2M	18.7M	18.2M	17.7M	17.2M	16.7M	16.2M	15.8M
Total liabilities	37.7M	42.5M	40.5M	38.2M	37.7M	37M	36.2M	38.5M	38.4M	37.8M	34.8M	34.7M
Shareholders' equity	40.4M	39.8M	38.7M	34.6M	34.1M	34.1M	34.2M	34.2M	34.8M	35.2M	35.5M	36.9M
Total debt	30.4M	34.7M	33.4M	30.7M	29.3M	28.7M	28.1M	27.6M	27.1M	26.6M	25.4M	24M
Net debt	26.4M	29.8M	28.9M	29.3M	27.6M	27.9M	26.8M	24M	24.1M	21.5M	20.2M	20.6M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	-4.1M	170K	6M	3.5M	-81K	6.2M	1.4M	-3.1M	-6.6M	75K
Depreciation & amortization	1M	506K	513K	563K	1M	770K	1.7M	2.4M	2.5M	2.5M
Stock-based compensation	206K	214K	211K	317K	556K	769K	689K	898K	924K	872K
Change in working capital	-1.3M	588K	-2.9M	-6.8M	4.3M	-10.9M	-3.3M	9.5M	3.8M	-2.7M
Operating cash flow	-4.5M	1.2M	3.8M	-2.5M	5M	-2.8M	-924K	9.1M	3.5M	4.6M
Capital expenditure	22K	0	1K	0	—	—	—	—	—	-235K
Investing cash flow	410K	0	4.2M	-458K	-3.9M	0	-24.4M	0	—	-235K
Dividends paid	-1.1M	-707K	-730K	-748K	-388K	0	—	—	—	—
Share repurchases	-158K	0	—	—	—	—	—	—	—	—
Financing cash flow	-1.1M	-702K	-730K	-748K	2.4M	0	15.6M	-2.4M	-50.7M	-722K
Net change in cash	-5.2M	486K	7.3M	-3.7M	3.5M	-2.8M	-9.8M	6.7M	-47.2M	3.6M
Free cash flow	-1.7M	1.4M	5.9M	-3.2M	4.3M	-3.3M	217K	1.7M	2.4M	4.3M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	-1.6M	-852K	-1.4M	-4.3M	-705K	-238K	-245K	-245K	392K	173K	-50K	879K
Depreciation & amortization	630K	638K	633K	633K	638K	632K	616K	615K	617K	615K	618K	611K
Stock-based compensation	246K	211K	255K	248K	241K	180K	195K	226K	219K	232K	264K	277K
Change in working capital	2.5M	1.3M	2.1M	434K	1.3M	-83K	-318K	156K	-1.9M	-577K	1.8M	-2.5M
Operating cash flow	1.5M	1.5M	814K	570K	1.5M	565K	297K	787K	-311K	2.1M	867K	-914K
Capital expenditure	—	—	—	—	—	—	—	—	-109K	-65K	-218K	-32K
Investing cash flow	0	0	—	—	—	—	—	—	-109K	-65K	-218K	-32K
Dividends paid	—	—	—	—	—	—	—	—	—	—	—	—
Share repurchases	—	—	—	—	—	—	—	—	—	—	—	—
Financing cash flow	394K	-1.6M	-1.6M	-2.6M	-1.8M	-44.8M	-144K	85K	-166K	-353K	-1.5M	-979K
Net change in cash	1.9M	-79K	-792K	-2M	-213K	-44.2M	153K	872K	-586K	1.7M	-863K	-1.9M
Free cash flow	-658K	1.4M	697K	28K	2.1M	-418K	574K	2.2M	-420K	2M	649K	-946K

RF Industries, Ltd. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Split history

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement