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Franklin Electric vs Erayak Power Solution: revenue, profit, margins and growth compared

Franklin Electric brought in $2.1B of revenue in fiscal 2025, Erayak Power Solution $22.9M in fiscal 2025. Revenue changed by +5.4% at Franklin Electric and -24.6% at Erayak Power Solution on the year before, so Franklin Electric grew faster. Franklin Electric kept 6.9% of its revenue as net profit, Erayak Power Solution -6.1%. Free cash flow was $193.5M at Franklin Electric and -$8.4M at Erayak Power Solution.

Side by side, latest fiscal year

FELERAYA
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$2.1B$22.9M
Revenue growth+5.4%-24.6%
Net income$147.1M-$1.4M
Net margin6.9%-6.1%
Free cash flow$193.5M-$8.4M
Free cash flow margin9.1%-36.8%
Earnings per share (diluted)$3.22-$27.28
Cash$99.7M$436.8K
Debt$135.2M$3.4M
Price to earnings30.1n/a
Market value$4.3B$2M
Dividend yieldn/an/a
Rank by revenue in sector#344 of 955 · Consumer discretionary#819 of 955 · Consumer discretionary

Over the years

Revenue
FELE FY2018: $1.3BFELE FY2019: $1.3BFELE FY2020: $1.2BFELE FY2021: $1.7BFELE FY2022: $2BFELE FY2023: $2.1BFELE FY2024: $2BFELE FY2025: $2.1BRAYA FY2020: $14.1MRAYA FY2022: $18.6MRAYA FY2022: $26.9MRAYA FY2023: $20.3MRAYA FY2024: $30.3MRAYA FY2025: $22.9MFY18FY19FY20FY21FY22FY23FY24FY25
FELE $2.1BRAYA $22.9M
Net income
FELE FY2018: $105.9MFELE FY2019: $95.5MFELE FY2020: $100.5MFELE FY2021: $153.9MFELE FY2022: $187.3MFELE FY2023: $193.3MFELE FY2024: $180.3MFELE FY2025: $147.1MRAYA FY2020: $2.2MRAYA FY2022: $3.4MRAYA FY2022: $3.5MRAYA FY2023: $1.2MRAYA FY2024: -$1.1MRAYA FY2025: -$1.4MFY18FY19FY20FY21FY22FY23FY24FY25
FELE $147.1MRAYA -$1.4M
Net margin
FELE FY2018: 8.2%FELE FY2019: 7.3%FELE FY2020: 8.1%FELE FY2021: 9.3%FELE FY2022: 9.2%FELE FY2023: 9.4%FELE FY2024: 8.9%FELE FY2025: 6.9%RAYA FY2020: 15.7%RAYA FY2022: 18.2%RAYA FY2022: 12.9%RAYA FY2023: 6.0%RAYA FY2024: -3.7%RAYA FY2025: -6.1%FY18FY19FY20FY21FY22FY23FY24FY25
FELE 6.9%RAYA -6.1%
Revenue growth
FELE FY2019: +1.3%FELE FY2020: -5.1%FELE FY2021: +33.2%FELE FY2022: +23.0%FELE FY2023: +1.0%FELE FY2024: -2.1%FELE FY2025: +5.4%RAYA FY2022: +31.9%RAYA FY2022: +44.4%RAYA FY2023: -24.5%RAYA FY2024: +49.1%RAYA FY2025: -24.6%FY19FY20FY21FY22FY23FY24FY25
FELE +5.4%RAYA -24.6%
Free cash flow
FELE FY2018: $106MFELE FY2019: $155.8MFELE FY2020: $189MFELE FY2021: $99.6MFELE FY2022: $59.8MFELE FY2023: $274.3MFELE FY2024: $219.7MFELE FY2025: $193.5MRAYA FY2020: -$8.1MRAYA FY2022: $4.4MRAYA FY2022: -$4.8MRAYA FY2023: $6MRAYA FY2024: -$16.4MRAYA FY2025: -$8.4MFY18FY19FY20FY21FY22FY23FY24FY25
FELE $193.5MRAYA -$8.4M

Fiscal years as each company reports them; the two may end in different months.

Questions about Franklin Electric and Erayak Power Solution

Which is bigger by revenue, Franklin Electric or Erayak Power Solution?

Franklin Electric is bigger by revenue: $2.1B in fiscal 2025, against $22.9M for Erayak Power Solution in fiscal 2025.

Which keeps more of its revenue as profit, Franklin Electric or Erayak Power Solution?

Franklin Electric had a net margin of 6.9% in fiscal 2025; Erayak Power Solution had -6.1% in fiscal 2025.

Which grew revenue faster, Franklin Electric or Erayak Power Solution?

In their latest fiscal years revenue changed by +5.4% at Franklin Electric and -24.6% at Erayak Power Solution.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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