RICHARDSON ELECTRONICS, LTD. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data RICHARDSON ELECTRONICS, LTD. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Revenue	137	163	167	156	177	225	263	196	209	229
Cost of revenue	93	108	115	106	118	153	179	136	144	157
Gross profit	43.9	55.1	51.7	49.7	58.8	71.7	83.7	60	64.8	71.3
Selling, general and administrative	49.9	51.7	52.2	51.3	55.9	55.7	58.7	59.5	62.2	65.7
Operating income	-5.76	3.63	-6.78	-1.66	2.89	16	25	0.35	-2.46	6.46
Other non-operating income	-0.35	0.23	0.47	0.44	-0.58	-0.2	0.05	-0.19	0.93	1.01
Pre-tax income	-6.12	3.86	-6.31	-1.21	2.31	15.8	25	0.16	-1.53	7.48
Income tax	0.81	1.53	1.02	0.62	0.65	-2.17	2.7	0.1	-0.39	1.1
Income from continuing operations	-6.93	2.33	-7.33	-1.84
Net income	-6.93	3.82	-7.33	-1.84	1.66	17.9	22.3	0.06	-1.14	6.38
EBITDA	-3.02	6.62	-3.6	1.73	6.31	19.4	28.7	4.66	1.54	10.3
Shares, diluted (weighted)	12.8		10.9	11	11.2	11.8	12.5	12.5	12.3	12.7

Balance sheet

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Cash and equivalents	55.3	60.5	42	30.5	43.3	35.5	25	24.3	35.9	31.8
Short-term investments	6.43		8	16	0	5	0
Receivables	20.8	22.9	24.3	20.2	25.1	29.9	30.1	24.8	24.1	33.2
Inventory	42.7	50.7	53.2	57.5	63.5	80.4	110	110	103	103
Other current assets	3.33	3.83	3.23	2.55	1.92	2.69	2.77	2.4	3.07	4.77
Total current assets	128	138	131	127	134	153	168	162	166	173
Property, plant and equipment	15.8	18.2	19.1	17.7	17.1	17	20.8	20.7	18.4	19
Lease right-of-use assets				3.02	2.26	3.02	2.46	2.76	2.28	1.39
Goodwill	6.33	6.33
Intangible assets	3.44	3.01	2.76	2.51	2.27	2.01	1.89	1.64	0.35	0.29
Long-term investments	2.42
Other non-current assets	1.1	0.93	0.53	0.46	0.54	0	0.27	0.21	0.23	0.26
Total assets	157	166	153	151	157	180	198	192	196	202
Accounts payable	15.9	19.6	16.9	17.4	17	24	23.5	15.5	21.3	19.6
Accrued liabilities	8.31	10.3	11.3	10.3	14.2	16.1	12	15.4	14.3	16
Deferred revenue									4.5
Total current liabilities	24.2	29.9	28.2	29.2	32.2	41.2	36.6	32	36.8	36.4
Lease liabilities				1.78	1.36	1.92	1.43	1.59	1.11	0.6
Other non-current liabilities	0.74	0.92	0.83	0.78	1.37	0.77	0.61	0.78	1.2	1.17
Total liabilities	25.1	31.1	29.3	32.1	35.2	44	38.7	34.5	39.2	38.3
Paid-in capital	59.4	60.1	61	61.7	62.7	66.3	71	72.7	74.4	77
Retained earnings	69.3	70.1	59.7	54.8	53.3	68	87	83.7	79.3	82.3
Other comprehensive income	2.92	4.37	2.39	1.49	4.89	0.8	0.62	0.76	2.15	3.74
Shareholders' equity	132	135	124	119	122	136	159	158	157	164
Total equity	132	135	124	119	122	136	159	158	157	164
Total liabilities and equity	157	166	153	151	157	180	198	192	196	202

Cash flow statement

	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Net income	-6.93	3.82	-7.33	-1.84	1.66	17.9	22.3	0.06	-1.14	6.38
Depreciation and amortization	2.74	2.99	3.17	3.39	3.42	3.42	3.67	4.31	4	3.79
Stock-based compensation	0.44	0.53	0.7	0.68	0.68	0.65	0.94	1.33	1.55	1.62
Deferred income tax	-0.11	0.33	0.33	0.01	-0.12	0.06	-0.02	1.02	-3.26	1.06
Change in receivables	4.17	-1.76	-2.03	3.9	-4.2	-6.18	-0.36	5.3	0.13	-8.91
Change in inventory	2.41	-8.25	-4.24	-5.45	-4.86	-20.6	-30.5	0.07	0.21	0.74
Change in payables	1.04	3.46	-2.42	0.63	-0.57	7.67	-0.44	-8.12	5.53	-1.87
Cash from operations	1.81	2.95	-2.56	1.92	0.83	1.91	-8.2	6.52	10.6	0.76
Capital expenditures	-5.22	-5.24	-3.87	-1.78	-2.63	-3.12	-7.38	-4.04	-2.81	-4.38
Cash from investing	-3.79	4.15	-11.9	-9.78	13.4	-8.12	-2.18	-4.04	4.02	-3.08
Stock issued	0.03	0.1	0.26	0.06	0.29	2.99	3.78	0.59	0.32	0.99
Dividends paid	-3.03	-3.05	-3.08	-3.1	-3.12	-3.19	-3.32	-3.38	-3.41	-3.44
Cash from financing	-3	-2.95	-2.82	-3.21	-3.01	-0.35	0.39	-2.91	-3.25	-2.54
Exchange rate effect	-0.15	0.99	-1.19	-0.42	1.6	-1.26	-0.52	-0.3	0.31	0.74
Net change in cash	-5.13	5.14	-18.4	-11.5	12.8	-7.82	-10.5	-0.72	11.6	-4.12
Free cash flow	-3.41	-2.29	-6.44	0.15	-1.8	-1.21	-15.6	2.48	7.74	-3.62
Income taxes paid	0.4	0.5	0.3	1	0.1	1.48	4.81	0	1.82	1.74

Key metrics

Worked out from the statements above. Latest values use fiscal 2026. Valuation uses the share price of $17.52 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	31.2%	Gross profit / revenue.
Operating margin	2.8%	Operating income / revenue.
EBITDA margin	4.5%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	3.3%	Pre-tax income / revenue.
Net margin	2.8%	Net income / revenue.
FCF margin	-1.6%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	0.3%	Cash from operations / revenue.
Effective tax rate	14.6%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	4.0%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	3.2%	Net income / average total assets.
Return on invested capital (ROIC)	4.4%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
SG&A / revenue	28.8%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	0.7%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	1.9%	Capital expenditures / revenue.
D&A / revenue	1.7%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	9.4%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-4.5%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	5.3%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	10.1%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	-5.2%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	3.9%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income CAGR, 3y	-36.3%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	17.5%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	566.2%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	-29.0%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	10.2%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income CAGR, 3y	-34.1%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	31.0%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-92.8%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 5y	-1.7%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	-146.8%	Free cash flow vs the same period a year earlier. Only from a positive base.
Book value growth, 1y	4.5%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	0.9%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	6.1%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	3.2%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	0.7%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	5.2%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	3.2%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	0.4%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	2.6%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	4.75x	Current assets / current liabilities.
Quick ratio	1.79x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.87x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	19.0%	Total liabilities / total assets.
Working capital	$136.4M	Current assets - current liabilities.
Goodwill and intangibles / assets	0.1%	(Goodwill + intangible assets) / total assets.
Tangible book value	$163.4M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	1.15x	Revenue / average total assets.
Fixed asset turnover	12.2x	Revenue / average property, plant and equipment.
Inventory turnover	1.53x	Cost of revenue / average inventory.
Days inventory	239 days	365 x average inventory / cost of revenue.
Receivables turnover	7.98x	Revenue / average receivables.
Days sales outstanding	46 days	365 x average receivables / revenue.
Days payables	48 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	237 days	Days inventory + days sales outstanding - days payables.
FCF conversion	-56.7%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	575.2%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
Revenue per share	$18.01	Revenue / diluted weighted shares.
FCF per share	-$0.29	Free cash flow / diluted weighted shares.
Operating cash flow per share	$0.06	Cash from operations / diluted weighted shares.
Book value per share	$12.90	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$12.88	Tangible book value / shares outstanding.
Cash per share	$2.50	(Cash + short-term investments) / shares outstanding.
Payout ratio	53.9%	Dividends paid / net income, when net income is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$257.4M	Share price x shares outstanding.
Enterprise value	$225.6M	Market cap + total debt - cash - short-term investments.
P/E	40.3x	Market cap / net income. Only when net income is positive.
P/S	1.13x	Market cap / revenue.
P/B	1.57x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	1.58x	Market cap / tangible book value, when positive.
P/OCF	338x	Market cap / cash from operations, when positive.
EV/Sales	0.99x	Enterprise value / revenue.
EV/EBIT	34.9x	Enterprise value / operating income, when both are positive.
EV/EBITDA	22.0x	Enterprise value / EBITDA, when both are positive.
FCF yield	-1.4%	Free cash flow / market cap.
Earnings yield	2.5%	Net income / market cap (the inverse of P/E).
Dividend yield	1.3%	Dividends paid over the period / market cap.
Shareholder yield	1.3%	(Dividends paid + share buybacks) / market cap.

What was RICHARDSON ELECTRONICS, LTD.'s revenue in fiscal 2026?

RICHARDSON ELECTRONICS, LTD. reported revenue of $228.6M for fiscal 2026, 9.4% higher than the year before.

Was RICHARDSON ELECTRONICS, LTD. profitable in fiscal 2026?

Yes. Net income was $6.4M, a net margin of 2.8%.

How much free cash flow did RICHARDSON ELECTRONICS, LTD. generate in fiscal 2026?

Cash from operations of $762.0K minus capital expenditures of $4.4M left free cash flow of -$3.6M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

Open interactive statements, quarterly figures and charts

Back to RICHARDSON ELECTRONICS, LTD.