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RFIL

RF Industries, Ltd.

RFIL

RF Industries, Ltd. • NASDAQ
$6.22 ▼ -0.08% (-0.01)
Market Cap $66.35 M
52w High $9.56
52w Low $3.39
Dividend Yield 0%
P/E -207.33
Volume 38.40K
Outstanding Shares 10.67M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $19.79M ▲ $5.999M ▲ $392K ▲ 1.981% ▲ $0.037 ▲ $1.097M ▲
Q2-2025 $18.91M ▼ $5.844M ▲ $-245K -1.296% ▼ $-0.023 ▲ $721K ▲
Q1-2025 $19.2M ▲ $5.661M ▼ $-245K ▼ -1.276% ▲ $-0.023 ▼ $672K ▼
Q4-2024 $18.453M ▲ $5.687M ▲ $-238K ▲ -1.29% ▲ $0.61 ▲ $728K ▲
Q3-2024 $16.836M $5.38M $-705K -4.187% $-0.067 $219K

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $3M ▼ $73.201M ▲ $38.429M ▼ $34.772M ▲
Q2-2025 $3.586M ▲ $72.679M ▲ $38.509M ▲ $34.17M ▼
Q1-2025 $1.273M ▲ $70.429M ▼ $36.236M ▼ $34.193M ▲
Q4-2024 $839K ▼ $71.046M ▼ $36.98M ▼ $34.066M ▼
Q3-2024 $1.764M $71.86M $37.724M $34.136M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $392K ▲ $-311K ▼ $-109K ▼ $-166K ▼ $-586K ▼ $-420K ▼
Q2-2025 $-245K $2.191M ▲ $-22K ▲ $144K ▲ $2.313M ▲ $2.157M ▲
Q1-2025 $-245K ▼ $601K ▲ $-27K ▲ $-140K ▲ $434K ▲ $574K ▲
Q4-2024 $-238K ▲ $-244K ▼ $-174K ▲ $-507K ▲ $-925K ▼ $-418K ▼
Q3-2024 $-705K $2.372M $-252K $-1.756M $364K $2.12M

Revenue by Products

Product Q3-2019Q4-2019Q1-2020Q3-2025
Custom Cabling Manufacturing and Assembly
Custom Cabling Manufacturing and Assembly
 $10.00M ▲$10.00M ▲$10.00M ▲$10.00M ▲
RF Connector and Cable Assembly
RF Connector and Cable Assembly
 $0 ▲$0 ▲$0 ▲$10.00M ▲
Corporate
Corporate
 $0 ▲$0 ▲$0 ▲$0 ▲
Rf Connectors And Cable Assembly
Rf Connectors And Cable Assembly
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue climbed strongly coming out of 2021, peaked, and then stepped back more recently. Gross profit has been fairly steady in absolute terms, which means the business is still adding value on what it sells, but operating profits are thin and offer little cushion. The company has swung from a clear profit a few years ago to roughly breakeven and then into a loss in the most recent year, with earnings per share turning negative. Overall, the income statement shows a small, cyclical industrial business that is sensitive to swings in demand and lacks robust, consistent profitability at this stage.

Balance Sheet

Balance Sheet The balance sheet is modest but reasonably balanced for a company of this size. Assets grew as the company expanded and completed acquisitions, then eased back a bit more recently, suggesting some normalization after a growth spurt. Cash on hand is limited, so the company has less of a cash buffer than in the past. Debt has become a more meaningful part of the capital structure compared with earlier years when the company carried little or no debt, while equity has held roughly steady but not grown much. This mix suggests more reliance on borrowing to support growth and working capital, and emphasizes the need for improved profitability to comfortably support that leverage.

Cash Flow

Cash Flow Reported cash flow figures are effectively flat in this summary view, which likely reflects very modest or tightly managed cash generation rather than strong, sustained free cash flow. There is no sign of heavy capital spending, which helps preserve cash but also means growth is largely funded through working capital and acquisitions rather than big internal investment programs. The lack of strong, recurring operating cash flow in the recent loss-making year is a key watch point, because it constrains financial flexibility and leaves less room for missteps if demand softens again.

Competitive Edge

Competitive Edge RF Industries operates in a specialized corner of the electrical and RF connectivity market, where customization, fast turnaround, and reliability matter as much as price. Its strength lies in bespoke cable assemblies, engineered solutions, and US-based manufacturing that can respond quickly to customer needs. Acquisitions such as Microlab, Rel‑Tech, and C Enterprises have expanded its product range and customer reach, giving it more ways to bundle solutions rather than just sell parts. Against larger global competitors, its edge is niche focus, engineering support, and service speed rather than sheer scale. This creates a defensible position in certain segments, but it also means the company is exposed to project timing, customer concentration, and overall telecom and infrastructure spending cycles.

Innovation and R&D

Innovation and R&D The company’s innovation is very applied and customer-driven. Patented compression connectors are designed for rugged, watertight performance and faster installation in the field, which solves real problems for installers. The TruField concealment shrouds target 5G deployments by combining signal transparency with aesthetics and easy installation, aligning well with carrier and municipality needs. RF Industries is also moving up the value chain from components to integrated solutions: pre-configured kits, engineered assemblies, and tailored packaging and labeling. R&D appears focused on incremental, practical improvements and niche product leadership rather than moonshot technologies. Future innovation efforts are pointed toward high-growth areas like 5G densification, aerospace, and public safety networks, where reliability and customization command better margins if the company executes well.

Summary

RF Industries today looks like a niche, project‑driven industrial technology company that has built a differentiated offering in specialized RF and connectivity products, but is still working to translate that positioning into consistent, healthy profits. Financially, growth in recent years has not yet converted into stable earnings, and the latest move into a loss and a more leveraged balance sheet raises execution risk. Strategically, the company’s strengths in customization, speed, and quality, plus its targeted acquisitions and practical innovation around 5G and critical communications, give it real opportunities in higher‑value markets. The key questions going forward are whether it can smooth out its earnings, generate stronger and more reliable cash flow, and fully monetize its shift from component supplier to integrated solutions provider while managing the cyclicality and project timing inherent in its end markets.

NEWS

October 22, 2025 · 4:05 PM UTC

RF Industries Announces an Additional $2 Million Order from Leading Aerospace Company

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September 2, 2025 · 4:05 PM UTC

RF Industries to Report Third Quarter Fiscal Year 2025 Financial Results on September 11

Read more