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Richardson Electronics, Ltd. (RELL)

NASDAQ / Technology / Hardware, Equipment & Parts

Share price

20.20 USD Market dataClose of Oct 14, 2026

Market capitalisation

296.4M USD Market dataClose of Oct 14, 2026
Market data
Oct 14, 2026
Filed accounts
FY2026, filed Aug 3, 2026
Ratios computed
Oct 14, 2026
Filed years
16, FY2010 to FY2026
Four kinds of sourceSEC filingCompany statementMarket dataComputedWhat each means
SEC filingFiled with the SEC
Read from a statement the company filed with the SEC, with the form, fiscal year, filing date and accession beside it.
Company statementCompany statement
What the company says about itself in a filing: an 8-K item, the auditor, its own segment names.
Market dataMarket data
Prices, market value and what analysts publish, with the date they are as of.
ComputedComputed by ValueScreener
Worked out by us from the other three, with the inputs and the formula one press away. A score is a research output, not a rating or a recommendation.
Reading

1 of 10

Overview

What the business is, what it costs, and how it reads on four questions.

Market dataSEC filingComputed

Four questions, at a glance

Quality

Return on invested capital, after tax

4.1% Computed

From the FY2026 filing

Read quality

Valuation

Price to earnings

40.16x Computed

FY2026 accounts, priced at the latest close

Read valuation

Cash generation

Free cash flow yield

-1.4% Computed

FY2026 accounts, priced at the latest close

Read cash generation

Revenue and net income, as filed

FY2017 Revenue: 136.9M USDFY2017 Net income: -6.9M USDFY2018 Revenue: 163.2M USDFY2018 Net income: 3.8M USDFY2019 Revenue: 166.7M USDFY2019 Net income: -7.3M USDFY2020 Revenue: 155.9M USDFY2020 Net income: -1.8M USDFY2021 Revenue: 176.9M USDFY2021 Net income: 1.7M USDFY2022 Revenue: 224.6M USDFY2022 Net income: 17.9M USDFY2023 Revenue: 262.7M USDFY2023 Net income: 22.3M USDFY2024 Revenue: 196.5M USDFY2024 Net income: 61.0K USDFY2025 Revenue: 208.9M USDFY2025 Net income: -1.1M USDFY2026 Revenue: 228.6M USDFY2026 Net income: 6.4M USD
Revenue Net income10 filed fiscal years, from the annual reports; the table in Filings names each document.
Named tests met
1 of 30 Which tests
The business, and the score behind its five axes

The reading, in brief

Is it cheap

Price to earnings is 40.16x at the close of 2026-10-14 on FY2026 figures; the lines are 15.00x (Graham's defensive ceiling) and, by market convention, 10.00x, 25.00x and 40.00x, and this sits above the highest.

Today, against the Hardware, Equipment & Parts industry (47 companies), 40.16x sits at the 43rd percentile; the middle half of that group runs from 27.88x to 73.81x.

Is it good

Return on invested capital was 4.1% in FY2026, in the band labelled "Likely below the cost of capital" (below 8.0%), on lines anchored on Damodaran's cost-of-capital data, suggesting returns below the usual cost of the capital employed.

Today, against the Technology sector (197 companies), 4.1% sits at the 32nd percentile; the middle half of that group runs from 1.2% to 17.1%.

Is it safe

Richardson Electronics, Ltd. held more cash than debt at the end of FY2026 (net cash of 30.4m USD), so net debt to EBITDA is a net cash position rather than a leverage reading.

Year by year against peers
Whether Richardson Electronics, Ltd.'s return on equity stayed above the median of the Hardware, Equipment & Parts industry, year by year. (FY2024 to FY2026, 3 fiscal years of Richardson Electronics, Ltd. with a comparable figure)
The direction
Which way Richardson Electronics, Ltd.'s return on equity has moved, and how steadily. (FY2017 to FY2026, 10 filed years of Richardson Electronics, Ltd.)
What could explain it
What in Richardson Electronics, Ltd.'s filed statements could explain the movements. (9 readings drawn from the statement lines Richardson Electronics, Ltd. filed)
What to check next
What to check next on Richardson Electronics, Ltd., and where in its filings. (8 questions for Richardson Electronics, Ltd.)
In one paragraph
One paragraph on Richardson Electronics, Ltd.'s returns, cash, balance sheet and price. (15 of sixteen figures read for Richardson Electronics, Ltd.)

These are RELL’s filed figures. The research desk says what they mean, against peers and its own years, with what to check next.

Research RELLPart of Serious. New accounts start with 30 days of Professional, free, no card.

2 of 10

What changed

The newest filing, what it moved, and when the next one is due.

SEC filingCompany statement

The newest accounts on file are the FY2026 annual report: 10-K, filed Aug 3, 2026, accession 0000355948-26-000002.

3 of 10

Quality

The returns the business earns on its capital, and the margins behind them.

SEC filingComputed

Richardson Electronics, Ltd: returns on capital and margins, each with its source
FigureValue, source and document
Return on invested capital, after tax4.1% ComputedFY2026 10-K, filed Aug 3, 2026, 0000355948-26-000002
Return on equity3.9% ComputedFY2026 10-K, filed Aug 3, 2026, 0000355948-26-000002
Return on capital employed, pre-tax3.9% ComputedFY2026 10-K, filed Aug 3, 2026, 0000355948-26-000002
Return on assets3.2% ComputedFY2026 10-K, filed Aug 3, 2026, 0000355948-26-000002
Gross margin31.2% ComputedFY2026 10-K, filed Aug 3, 2026, 0000355948-26-000002
Operating margin2.8% ComputedFY2026 10-K, filed Aug 3, 2026, 0000355948-26-000002
Net margin2.8% ComputedFY2026 10-K, filed Aug 3, 2026, 0000355948-26-000002
RELL 2.8%
MPTI 15.5%SOTK 8.6%OPTX -6.4%CPSH 1.3%SLNH -179.7%
-179.7%15.5%
Net margin: RELL against the 5 companies named under Valuation context, each as filed for its own latest year. Placement only: no average is drawn.

4 of 10

Financial strength

What it owes against what it owns, and whether it can meet what falls due.

SEC filingComputedCompany statement

Richardson Electronics, Ltd: leverage, liquidity and distress, each with its source
FigureValue, source and document
Debt to equity0.01 ComputedFY2026 10-K, filed Aug 3, 2026, 0000355948-26-000002
Current ratio4.75 ComputedFY2026 10-K, filed Aug 3, 2026, 0000355948-26-000002
Quick ratio1.92 ComputedFY2026 10-K, filed Aug 3, 2026, 0000355948-26-000002
Interest coverage
Why n/a

No interest expense is filed for this year, so coverage is not computed.

n/a ComputedFY2026 10-K, filed Aug 3, 2026, 0000355948-26-000002
Altman Z-score6.63 ComputedClose of Oct 14, 2026 · FY2026 10-K, filed Aug 3, 2026, 0000355948-26-000002
Net debt-30.4M ComputedFY2026 10-K, filed Aug 3, 2026, 0000355948-26-000002
Total assets 202.0MTotal liabilities 38.3MShareholders' equity 163.7MOwnsOwes, and equity
Total assets Total liabilities Shareholders’ equity
The balance sheet, line by line

Financial health

What Richardson Electronics, Ltd owned and owed at the end of fiscal 2026, from the balance sheet it filed (10-K, filed Aug 3, 2026, 0000355948-26-000002).

Richardson Electronics, Ltd: balance sheet position
Total assets202.0M FiledFY2026 10-K, filed Aug 3, 2026
Total liabilities38.3M FiledFY2026 10-K, filed Aug 3, 2026
Shareholders' equity163.7M FiledFY2026 10-K, filed Aug 3, 2026
Cash31.8M FiledFY2026 10-K, filed Aug 3, 2026
Total debt1.4M FiledFY2026 10-K, filed Aug 3, 2026
Net debt-30.4M
Current ratio4.75
Debt to equity0.01
  • Interest cover: FY2026: No interest expense is filed for this year, so coverage is not computed.

Read from the filed balance sheet for each year, with the income statement of the same year supplying operating profit where a ratio needs it. Nothing here is a view on whether this company is sound.

5 of 10

Valuation context

What the market charges for it, against its own record and companies like it.

Market dataSEC filingComputed

Richardson Electronics, Ltd: what the market charges, each with its source
FigureValue, source and document
Price to earnings40.16x ComputedClose of Oct 14, 2026 · FY2026 10-K, filed Aug 3, 2026, 0000355948-26-000002
P/E on trailing twelve months
Why n/a

A trailing figure needs 4 filed quarters with the dates they were filed on, and we hold 0 for this company. Nothing is drawn rather than a line built from fewer.

n/a ComputedClose of Oct 14, 2026 · Trailing four quarters, each as known on the day; the quarterly filings are listed under Filings
Price to book1.57x ComputedClose of Oct 14, 2026 · FY2026 10-K, filed Aug 3, 2026, 0000355948-26-000002
Price to sales1.12x ComputedClose of Oct 14, 2026 · FY2026 10-K, filed Aug 3, 2026, 0000355948-26-000002
Enterprise value to EBIT34.95x ComputedClose of Oct 14, 2026 · FY2026 10-K, filed Aug 3, 2026, 0000355948-26-000002
Enterprise value to EBITDA22.04x ComputedClose of Oct 14, 2026 · FY2026 10-K, filed Aug 3, 2026, 0000355948-26-000002
Price to earnings over growth
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedClose of Oct 14, 2026 · FY2026 10-K, filed Aug 3, 2026, 0000355948-26-000002
Diluted earnings per share
Why n/a

The FY2026 filing carries no diluted earnings per share we could read.

n/a FiledFY2026 10-K, filed Aug 3, 2026, 0000355948-26-000002
Graham number
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedFY2026 10-K, filed Aug 3, 2026, 0000355948-26-000002

We publish no fair value or price target of our own. Value RELL on your own assumptions in the DCF workbench, starting from the filed figures.

Its own record, and companies like it

Valuation

What the market charges for Richardson Electronics, Ltd today, and the multiples it has carried. No value of ours: the figures are the filings’ and the market’s.

Richardson Electronics, Ltd: valuation
Share price20.20 USD
Market capitalisation296.4M USD
Enterprise value to EBITDA22.04x
Graham numbern/a
Diluted earnings per sharen/a

Price to earnings on trailing twelve months: A trailing figure needs 4 filed quarters with the dates they were filed on, and we hold 0 for this company. Nothing is drawn rather than a line built from fewer.

Companies like Richardson Electronics, Ltd

  1. M-tron Industries, Inc. (MPTI)Market cap 237.5M USD
  2. Sono-Tek Corporation (SOTK)Market cap 97.5M USD
  3. Syntec Optics Holdings, Inc. (OPTX)Market cap 278.3M USD
  4. CPS Technologies Corporation (CPSH)Market cap 67.8M USD
  5. Soluna Holdings, Inc. (SLNH)Market cap 113.3M USD

Same industry (Hardware, Equipment & Parts) and size band (Micro, 50M to 300M), nearest in market value, net margin and current ratio. Each of those counts equally, by how many of the companies considered sit between the two on it. Closest first: the order is likeness and nothing else.

6 of 10

Cash generation

Whether profit arrives as cash, and what is paid back to shareholders.

SEC filingComputed

Richardson Electronics, Ltd: cash generation and what is paid out, each with its source
FigureValue, source and document
Free cash flow yield-1.4% ComputedClose of Oct 14, 2026 · FY2026 10-K, filed Aug 3, 2026, 0000355948-26-000002
Free cash flow-3.6M USD ComputedFY2026 10-K, filed Aug 3, 2026, 0000355948-26-000002
Free cash flow margin-1.6% ComputedFY2026 10-K, filed Aug 3, 2026, 0000355948-26-000002
Dividend yield1.2% ComputedClose of Oct 14, 2026 · FY2026 10-K, filed Aug 3, 2026, 0000355948-26-000002
Payout ratio53.9% ComputedFY2026 10-K, filed Aug 3, 2026, 0000355948-26-000002
FY2017 Free cash flow: -3.4M USDFY2017 Net income: -6.9M USDFY2018 Free cash flow: -2.3M USDFY2018 Net income: 3.8M USDFY2019 Free cash flow: -6.4M USDFY2019 Net income: -7.3M USDFY2020 Free cash flow: 147.0K USDFY2020 Net income: -1.8M USDFY2021 Free cash flow: -1.8M USDFY2021 Net income: 1.7M USDFY2022 Free cash flow: -1.2M USDFY2022 Net income: 17.9M USDFY2023 Free cash flow: -15.6M USDFY2023 Net income: 22.3M USDFY2024 Free cash flow: 2.5M USDFY2024 Net income: 61.0K USDFY2025 Free cash flow: 7.7M USDFY2025 Net income: -1.1M USDFY2026 Free cash flow: -3.6M USDFY2026 Net income: 6.4M USD
Free cash flow Net incomeProfit that arrives as cash stands level with net income; a gap year after year is worth reading about.

7 of 10

Filings

Every figure, the year it is for and the document it was read from.

SEC filing

The filed figures

Computed from the accounts this company filed with the SEC and, in a ratio with a price in it, the last close, dated on this page. Every filed figure below carries the fiscal year and the filing date its accounts were read from, and every blank carries the reason it is blank. Nothing here is a view on this company.

Richardson Electronics, Ltd.: the eight ratios, with the fiscal year and filing date behind each.
FigureValueYearAs of
40.16xFY2026Oct 14, 2026
1.57xFY2026Oct 14, 2026
34.95xFY2026Oct 14, 2026
-1.4%FY2026Oct 14, 2026
4.1%FY2026Aug 3, 2026
1.2%FY2026Oct 14, 2026
0.01FY2026Aug 3, 2026
4.75FY2026Aug 3, 2026
1.12xFY2026Oct 14, 2026
n/aFY2026Oct 14, 2026
n/a The filed income statement reports no earnings per share.
6.63FY2026Oct 14, 2026
-2.02FY2026Aug 3, 2026
6/9FY2026Aug 3, 2026

The figures are computed from the accounts for fiscal 2026, the newest full year on file. 16 filed fiscal years on record, FY2010 to FY2026, from SEC EDGAR. Prices as of Oct 14, 2026. Ratios recomputed Oct 14, 2026. Two facts, because a recompute is not a fresh quote.

The year and the filing date name the statement each figure’s accounts are read from, and they stand even where the figure itself could not be computed: the line beneath a blank says what that statement did not carry. A figure’s name opens its formula and the filings behind it; a statement that names no SEC filing has no filing date, and reads n/a.

Ten years of filed figures, year by year

Ten years of filed figures

10 filed fiscal years, FY2017 to FY2026, read from the annual reports Richardson Electronics, Ltd filed with the SEC. Each year names its filing. Amounts in USD, as filed.

Richardson Electronics, Ltd: revenue, earnings, free cash flow and returns, by fiscal year, with the filing each year was read from
YearRevenueOperating incomeNet incomeEPS, dilutedFree cash flowOperating marginReturn on equityFiling
FY2026228.6M6.5M6.4Mn/a-3.6M2.8%3.9%10-K, Aug 3, 20260000355948-26-000002
FY2025208.9M-2.5M-1.1Mn/a7.7M-1.2%-0.7%10-K, Aug 4, 20250000950170-25-101785
FY2024196.5M348.0K61.0Kn/a2.5M0.2%0.0%10-K, Aug 5, 20240000950170-24-090651
FY2023262.7M25.0M22.3Mn/a-15.6M9.5%14.0%10-K, Jul 31, 20230000950170-23-035840
FY2022224.6M16.0M17.9Mn/a-1.2M7.1%13.2%10-K, Aug 1, 20220001564590-22-027238
FY2021176.9M2.9M1.7Mn/a-1.8M1.6%1.4%10-K, Aug 2, 20210001564590-21-039728
FY2020155.9M-1.7M-1.8Mn/a147.0K-1.1%-1.6%10-K, Aug 3, 20200001564590-20-035424
FY2019166.7M-6.8M-7.3Mn/a-6.4M-4.1%-5.9%10-K, Aug 5, 20190001564590-19-028701
FY2018163.2M3.6M3.8Mn/a-2.3M2.2%2.8%10-K, Aug 2, 20180001387131-18-003556
FY2017136.9M-5.8M-6.9Mn/a-3.4M-4.2%-5.2%10-K, Jul 31, 20170001387131-17-003807
  • Revenue, compound annual growth FY2017 to FY2026: 5.9%
  • Earnings: Earnings was not positive in both 2017 and 2026, so a compound rate across the window is not defined. Both figures are in the table.
  • Earnings per share: Fewer than two filed years carry earnings per share.
  • Free cash flow: Free cash flow was not positive in both 2017 and 2026, so a compound rate across the window is not defined. Both figures are in the table.

Every figure in this section is a line of a filed annual statement or a ratio of two of them. Nothing here is estimated or smoothed. Earnings per share filed before a share split are put on today's share count, and say so. Nothing here is a verdict on the company.

8 of 10

Risks and guardrails

The accounting screens, the published tests, and the lines you can set to be told.

ComputedCompany statement

Richardson Electronics, Ltd: accounting screens and published tests, each with its source
FigureValue, source and document
Beneish M-score-2.02 ComputedFY2026 10-K, filed Aug 3, 2026, 0000355948-26-000002
Piotroski F-score6/9 ComputedFY2026 10-K, filed Aug 3, 2026, 0000355948-26-000002
Named tests met1 of 30 Computed
Beta1.00 ComputedClose of Oct 14, 2026

The named tests

Of 30 tests value investors published: 1 met, 26 not met, 3 we could not complete. Counts, never a score: a single figure would have to decide that meeting one investor’s criteria and meeting another’s are worth the same.

Which tests, by name(all 30)
Meets
Low P/S, rising earnings (James O'Shaughnessy)
Does not
Defensive investor (Benjamin Graham); Deep value; Large cap, low P/E; Earnings yield and ROIC (Joel Greenblatt); High F-score, low P/B (Joseph Piotroski); Three forensic scores; High returns and growth; Gross margin, turnover (Robert Novy-Marx); EV/EBITDA and coverage; High yield, low payout; Dividends and buybacks; Low beta, profitable; ROIC at or above WACC; Near the 52-week low; Two thirds of NCAV (Benjamin Graham); High returns, low debt; Owner earnings yield; High return on tangibles; Book or below, low debt (Walter Schloss); Cash-covered dividend; Tangible book or below; Cash-flow yield and ROIC; Clean books, high ROIC; Cheapest quarter on P/E (David Dreman); Cheapest quarter on P/B (David Dreman); Low P/E, growth, yield (John Neff)
Not measured
Low PEG, low debt (Peter Lynch); Z-score and coverage (Edward Altman); P/E times P/B (Benjamin Graham). A test with a figure we could not read is incomplete, never met and never failed.
Figures we could not read(5)
  • Positive Earnings Streak: The latest filed year has no per-share earnings we can read; the test needs 10.
  • PEG Ratio: We do not hold this figure for this company, so there is nothing to show.
  • Eps Growth 5Y: We do not hold this figure for this company, so there is nothing to show.
  • Interest Coverage: No interest expense is filed for this year, so coverage is not computed.
  • Price To Graham: We do not hold this figure for this company, so there is nothing to show.

9 of 10

Declared positions

Whether anybody here owns this company.

Positions declared by the founder: no holding in any company shown here, as of October 3, 2026.

10 of 10

Next step

What to do with what you have read.

A thesis is your reason for owning it, in your words, with the figures that must stay true. Checking those figures every night against the newest filed accounts, and telling you once when one breaks, is what the subscription adds.

More on this company

What this cannot tell you

  • 5 figures could not be read on this company, among them Positive Earnings Streak, PEG Ratio, Eps Growth 5Y. Each blank in the table above names the rest, with its reason. 3 named tests come back incomplete because of them, which is neither met nor missed.

And the one that is true of all of it: This is what the numbers say today. It cannot tell you the day one of them stops being true. Nothing here can, because the reasons are not written down.

Running this once is arithmetic on public documents and you are welcome to it. Writing down why you own each company, in your own words and with the numbers that have to stay true for it to hold, and then having those numbers re-checked every night against the newest filed accounts, and against the latest close where a rule watches a price, is Professional, the plan a new account starts on for 30 days, one trial per person. It writes to you the day one breaks, and stays quiet when nothing does. The check runs every night at 23:30 UTC. A filing is picked up the night after it is published.

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Analyze your own portfolio

ValueScreener · valuescreener.ai · Computed from accounts filed with the SEC by this company, read from EDGAR, and from dated closing prices. On this page a filed figure opens into its formula, its inputs and the statement, fiscal year and filing date it was read from, and a price into the day of its close. A figure that cannot show that trail says so.

A computation on accounts filed with the SEC, not a recommendation and not advice. Past filings do not indicate future results. Risk disclaimer.

Once a week, what changed in the filings of US-listed companies, why it can matter to a thesis, and what deserves a closer review. Grounded in filings, not market noise.

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Risk disclaimer. This service is provided for research and education only. Nothing on it is investment advice, a recommendation, or an offer to buy or sell any security. Capital is at risk, and past performance does not indicate future results. Figures come from filed accounts and may be incomplete, delayed or later restated, so verify a number against the filing before you act on it.