olivLaw · US equity research
Richardson Electronics, Ltd. RELL
Wholesale-Electronic Parts & Equipment, NEC · SIC 5065 · Vertical: Wholesale-Electronic Parts & Equipment, NEC (SIC 5065)
Richardson Electronics designs and manufactures electron tubes, RF and microwave components, green energy solutions and customized display solutions, selling to industrial, medical, defense and communications markets. The company closed fiscal 2026 with net sales up 9.4% to 228.6 million USD, its second consecutive year of growth, and a backlog at its highest level in three years.
At the close of 04 Nov 2026, Richardson Electronics, Ltd. (RELL) stock was 19.56 USD (−5.37% on the day), with market capitalisation 211.2 m USD, P/E 24.7, dividend yield 1.64%, beta 1.55, 52-week range 9.43–21.82 USD. Latest reported quarter (Q1 2027): revenue of 64.9 m USD (+18.9% YoY), net income of 4.1 m USD (+112.6% YoY).
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 51.5
- neutral
- Bollinger (20, 2)
- 17.53 – 21.82
- in the lower half of the band · %B 0.47 · band width 21.8%
- SMA 50 / 200
- 18.34 / 15.93
- uptrend (price > SMA50 > SMA200)
- MACD (12, 26, 9)
- 0.41 / 0.40
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +4.2% | −1.1% | +5.3 pp | — |
| 3 months | −6.8% | −0.5% | −6.3 pp | — |
| 6 months | +29.4% | +4.4% | +25.0 pp | — |
| Year to date | +79.8% | +12.3% | +67.5 pp | — |
| 1 year | +84.0% | +13.5% | +70.5 pp | +56.5% |
| 3 years | +69.4% | +76.4% | −7.1 pp | +77.1% |
| 5 years | +66.5% | +63.7% | +2.8 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q1 2027 · 29 Aug 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 | Q4 '26 | Q1 '27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 49.5 m | 53.8 m | 51.9 m | 54.6 m | 52.3 m | 55.5 m | 66.2 m | 64.9 m |
| Cost of revenue | 34.2 m | 37.1 m | 35.5 m | 37.7 m | 36.2 m | 37.8 m | 45.5 m | 42.4 m |
| Gross profit | 15.3 m | 16.7 m | 16.4 m | 16.9 m | 16.1 m | 17.7 m | 20.7 m | 22.5 m |
| SG&A | 16.0 m | 14.5 m | 15.6 m | 16.0 m | 15.9 m | 16.2 m | 17.6 m | 17.4 m |
| Operating income | -667.0 k | -2.7 m | 631.0 k | 968.0 k | 132.0 k | 1.5 m | 3.9 m | 5.1 m |
| Depreciation & amortisation | 1.0 m | 978.0 k | 965.0 k | 971.0 k | 937.0 k | 989.0 k | 892.0 k | 907.0 k |
| Pre-tax income | -1.1 m | -3.1 m | 2.0 m | 2.3 m | -196.0 k | 1.2 m | 4.1 m | 5.0 m |
| Income tax | -304.0 k | -1.0 m | 889.0 k | 421.0 k | -75.0 k | 302.0 k | 447.0 k | 988.0 k |
| Net income | -751.0 k | -2.1 m | 1.1 m | 1.9 m | -121.0 k | 893.0 k | 3.7 m | 4.1 m |
| Operating cash flow | 5.5 m | 4.6 m | 74.0 k | 1.4 m | -99.0 k | -2.7 m | 2.1 m | 5.9 m |
| Capex | 517.0 k | 549.0 k | 819.0 k | 1.0 m | 1.6 m | 759.0 k | 993.0 k | 1.7 m |
| Dividends paid | 853.0 k | 852.0 k | 852.0 k | 857.0 k | 859.0 k | 859.0 k | 864.0 k | 880.0 k |
E/P over time
EPS unavailable in the issuer's structured filings (e.g. a partnership reports per unit, not per share).
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 166.7 m | 155.9 m | 176.9 m | 224.6 m | 262.7 m | 196.5 m | 208.9 m | 228.6 m |
| Revenue YoY | +2.1% | −6.5% | +13.5% | +26.9% | +16.9% | −25.2% | +6.3% | +9.4% |
| Net income | -7.3 m | -1.8 m | 1.7 m | 17.9 m | 22.3 m | 61.0 k | -1.1 m | 6.4 m |
| Net income YoY | −291.7% | unavailable | unavailable | +983.2% | +24.6% | −99.7% | −1,973.8% | unavailable |
| Diluted EPS | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
| Diluted EPS YoY | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
| net % | -4.4% | -1.2% | 0.9% | 8.0% | 8.5% | 0.0% | -0.5% | 2.8% |
| Free cash flow | -6.4 m | 147.0 k | -1.8 m | -1.2 m | -15.6 m | 2.5 m | 7.7 m | -3.6 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2026 · 30 May 2026
- Cash
- 31.8 m USD
- Financial debt
- unavailable USD
- Net debt
- unavailable USD
- Equity
- 163.7 m USD
- Total assets
- 202.0 m USD
- Debt / equity
- unavailable
- Current ratio
- 4.75x
- ROE
- 4.0%
- ROA
- 3.2%
- FCF margin
- -1.6%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 176.9 m | 224.6 m | 262.7 m | 196.5 m | 208.9 m | 228.6 m | SEC (XBRL)· 03 Aug 2026verified |
| Cost of revenue | 118.1 m | 152.9 m | 179.0 m | 136.5 m | 144.1 m | 157.2 m | SEC (XBRL)· 03 Aug 2026verified |
| Gross profit | 58.8 m | 71.7 m | 83.7 m | 60.0 m | 64.8 m | 71.3 m | SEC (XBRL)· 03 Aug 2026verified |
| SG&A | 55.9 m | 55.7 m | 58.7 m | 59.5 m | 62.2 m | 65.7 m | SEC (XBRL)· 03 Aug 2026verified |
| Operating income | 2.9 m | 16.0 m | 25.0 m | 348.0 k | -2.5 m | 6.5 m | SEC (XBRL)· 03 Aug 2026verified |
| Depreciation & amortisation | 3.4 m | 3.4 m | 3.7 m | 4.3 m | 4.0 m | 3.8 m | SEC (XBRL)· 03 Aug 2026verified |
| EBITDA | 6.3 m ≈ | 19.4 m ≈ | 28.7 m ≈ | 4.7 m ≈ | 1.5 m ≈ | 10.3 m ≈ | SEC (XBRL)· 03 Aug 2026derived |
| Pre-tax income | 2.3 m | 15.8 m | 25.0 m | 157.0 k | -1.5 m | 7.5 m | SEC (XBRL)· 03 Aug 2026verified |
| Income tax | 653.0 k | -2.2 m | 2.7 m | 96.0 k | -388.0 k | 1.1 m | SEC (XBRL)· 03 Aug 2026verified |
| Net income | 1.7 m | 17.9 m | 22.3 m | 61.0 k | -1.1 m | 6.4 m | SEC (XBRL)· 03 Aug 2026verified |
| Weighted average diluted shares | 11.2 m | 11.8 m | 12.5 m | 12.5 m | 12.3 m | 12.7 m | SEC (XBRL)· 03 Aug 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 43.3 m | 35.5 m | 25.0 m | 24.3 m | 35.9 m | 31.8 m | SEC (XBRL)· 03 Aug 2026verified |
| Receivables | 25.1 m | 29.9 m | 30.1 m | 24.8 m | 24.1 m | 33.2 m | SEC (XBRL)· 03 Aug 2026verified |
| Inventories | 63.5 m | 80.4 m | 110.4 m | 110.1 m | 102.8 m | 103.0 m | SEC (XBRL)· 03 Aug 2026verified |
| Current assets | 134.3 m | 153.2 m | 168.1 m | 161.7 m | 165.9 m | 172.7 m | SEC (XBRL)· 03 Aug 2026verified |
| Property, plant & equipment, net | 17.1 m | 17.0 m | 20.8 m | 20.7 m | 18.4 m | 19.0 m | SEC (XBRL)· 03 Aug 2026verified |
| Intangibles (excl. goodwill) | 2.3 m | 2.0 m | 1.9 m | 1.6 m | 345.0 k | 285.0 k | SEC (XBRL)· 03 Aug 2026verified |
| Total assets | 156.8 m | 179.8 m | 198.0 m | 192.4 m | 195.8 m | 202.0 m | SEC (XBRL)· 03 Aug 2026verified |
| Accounts payable | 17.0 m | 24.0 m | 23.5 m | 15.5 m | 21.3 m | 19.6 m | SEC (XBRL)· 03 Aug 2026verified |
| Current liabilities | 32.2 m | 41.2 m | 36.6 m | 32.0 m | 36.8 m | 36.4 m | SEC (XBRL)· 03 Aug 2026verified |
| Total liabilities | 35.2 m | 44.0 m | 38.7 m | 34.5 m | 39.2 m | 38.3 m | SEC (XBRL)· 03 Aug 2026verified |
| Equity | 121.6 m † | 135.8 m † | 159.3 m † | 158.0 m † | 156.7 m † | 163.7 m † | SEC (XBRL)· 03 Aug 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 832.0 k | 1.9 m | -8.2 m | 6.5 m | 10.6 m | 762.0 k | SEC (XBRL)· 03 Aug 2026verified |
| Capex | 2.6 m | 3.1 m | 7.4 m | 4.0 m | 2.8 m | 4.4 m | SEC (XBRL)· 03 Aug 2026verified |
| Free cash flow | -1.8 m ≈ | -1.2 m ≈ | -15.6 m ≈ | 2.5 m ≈ | 7.7 m ≈ | -3.6 m ≈ | SEC (XBRL)· 03 Aug 2026derived |
| Investing cash flow | 13.4 m | -8.1 m | -2.2 m | -4.0 m | 4.0 m | -3.1 m | SEC (XBRL)· 03 Aug 2026verified |
| Financing cash flow | -3.0 m | -352.0 k | 389.0 k | -2.9 m | -3.2 m | -2.5 m | SEC (XBRL)· 03 Aug 2026verified |
| Dividends paid | 3.1 m | 3.2 m | 3.3 m | 3.4 m | 3.4 m | 3.4 m | SEC (XBRL)· 03 Aug 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- score weight coverage: 54.2% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 211.2 m USD
Key indicators
Coverage and freshness
Score by group
54% · Insufficient data
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 13.35 – 18.09 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · the reported interest expense is far older than the latest period (the filer changed its XBRL tag): a stale figure is not used
- Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: P/E13.35 – 18.09 (Mid 15.64)4 companies used · median multiple 19.8x · quartiles 16.9x – 22.9xARW, AVT, ITRN, TEL
- Dividend discount (DDM)unavailable · input data missing
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Insufficient data
Minimum-evidence gate: score weight coverage: 54.2% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | 3.6% | 60 (vs peers) | 12% |
| FCF conversion · Quality | 2.5% | 0 (on a fixed band) | 12% |
| Revenue CAGR 3Y · Growth | -4.5% | 0 (on a fixed band) | 15% |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 4.6x | 100 (on a fixed band) | 8% |
| P/E (TTM) · Valuation | 24.7x | 24 (on a fixed band) | 19% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | 0.1% | 1 (on a fixed band) | 15% |
| Shareholder yield (distributions) · Returns | 1.6% | 23 (on a fixed band) | 12% |
| Payout ratio (FCF) · Returns | 1,625.4% | 0 (on a fixed band) | 8% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial100/100 · 1/3 factors with a value
- Growth· partial0/100 · 1/2 factors with a value
- Quality30/100 · 2/3 factors with a value
- Returns14/100 · 2/2 factors with a value
- Valuation14/100 · 2/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
RICHARDSON ELECTRONICS, LTD. (RELL). Latest full fiscal year: 2026; data up to 2026-08-29.
Figures computed from the financial statements: revenue 228.6 m USD in 2026; YoY growth 9.4%; net margin 3.6%; ROE 5.2%.
The estimated value range is 13.35–18.09 USD per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 15.64 USD, the price of 19.56 USD leaves a potential of -20.1% (value / price − 1) and a margin of safety of -25.1% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
Insufficient data for a verdict (score weight coverage: 54.2% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Current ratio: 4.6x
What contradicts it
- FCF conversion: 2.5%
- Revenue CAGR 3Y: -4.5%
- P/E (TTM): 24.7x
- FCF yield: 0.1%
- Shareholder yield (distributions): 1.6%
- Payout ratio (FCF): 1,625.4%
- The price is above the estimated value range
Not assessed (insufficient data or a ratio without meaning): ROIC, EPS CAGR 3Y, Net debt / EBITDA, Interest coverage, EV/EBITDA.
Versus the vertical median
Wholesale-Electronic Parts & Equipment, NEC (SIC 5065) · same industry (4-digit SIC) · compared with 5 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| TELTe Connectivity PLC | 63.8 bn | 27.5 | 18.5% | 12.6% | +8.9% | −3% / +68% |
| ARWArrow Electronics, Inc. | 10.3 bn | 12.9 | 12.2% | 2.3% | +10.5% | +88% / +71% |
| AVTAvnet, Inc. | 7.0 bn | 21.4 | 6.7% | 1.2% | +24.5% | +80% / +83% |
| ITRNIturan Location & Control Ltd. | 1.1 bn | 18.2 | 28.8% | 16.1% | +6.8% | +33% / +98% |
| RELLRichardson Electronics, Ltd. | 211.2 m | 24.7 | 5.2% | 3.6% | +9.4% | +84% / +69% |
| DCMDeFi Capital Markets, Inc. | 10.0 m | — | -95.0% | -437.8% | −79.4% | unavailable / unavailable |
1- and 3-year price returns: for RELL from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 10.51 Total return -46% · Per year -46% | 18.67 Total return -5% · Per year -5% | 28.25 Total return 44% · Per year 44% |
| 3 years | 8.44 Total return -57% · Per year -24% | 17.02 Total return -13% · Per year -5% | 28.52 Total return 46% · Per year 13% |
| 5 years | 6.77 Total return -65% · Per year -19% | 15.51 Total return -21% · Per year -5% | 28.79 Total return 47% · Per year 8% |
- Exit P/E± 4.26
- Net margin± 2.98
- Annual revenue growth± 2.68
- Annual dilution± 0.25
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Richardson Electronics designs and manufactures electron tubes, RF and microwave components, green energy solutions and customized display solutions, selling to industrial, medical, defense and communications markets. The company closed fiscal 2026 with net sales up 9.4% to 228.6 million USD, its second consecutive year of growth, and a backlog at its highest level in three years.13
SWOT
Strengths
- The company has solid engineering capability, an extensive parts portfolio, a global distribution network and a balance sheet with no outstanding revolving credit debt at the end of fiscal 2026.
- Diversification across three segments and several geographic regions reduces reliance on any single market.
- The company has reduced operating expenses as a share of sales while maintaining its gross margin.
Weaknesses
- Dependence on one major PMT customer and a few key suppliers exposes the company to concentration risk.
- The company has a history of inventory obsolescence charges, and its tube-based products face declining technologies.
- Margins vary across segments, and shifts in product mix have pressured margins at GES and Canvys.
Opportunities
- Demand for power management, semiconductor equipment, defense and energy storage could support future growth if the backlog converts into sales.
- Higher-value engineered solutions could improve margins if the company expands this part of its portfolio.
- The long-term supply agreement with DirectMed could provide steadier revenue from repairing CT tubes.
Threats
- Tariffs and geopolitical tensions could raise import costs and reduce customer demand.
- Supply chain disruptions, including conflicts in Europe and the Middle East, could delay deliveries and raise material costs.
- Chinese tube manufacturers and technical obsolescence could erode the company's market share over the longer term.
Risks
- Customer concentration in PMThigh
One customer in the PMT segment represents a significant share of consolidated sales; losing this customer could materially affect financial condition and cash flows.1
- Reliance on a limited number of vendorshigh
Two suppliers each represented more than 10% of total cost of sales in fiscal 2026, and disruption of these relationships could affect operations.1
- Inventory obsolescencemedium
The company holds significant inventories, and technological change could lead to write-downs and losses on unsold stock.1
- Cybersecurity exposuremedium
Information technology systems could be hit by cyber attacks or disruptions, and incidents could bring costs and reputational harm.1
- Benefits of the healthcare asset sale may fall shortlow
Expected cost savings and synergies from the sale of healthcare assets may not be fully realized, and integrating the remaining operations could prove more complex than expected.1
Investment thesis
What would need to be true (bull case)
- Sales growth across eight consecutive quarters, a backlog at its highest level in three years and a debt-free revolving line suggest the business could keep growing if semiconductor and RF demand holds.13
- The return to operating profit in fiscal 2026 after the prior year's loss suggests that cost control and product mix could support better margins.
- A position as a provider of engineered solutions and niche tube expertise could shield the company from broad-based competition.
What would break the thesis
- Dependence on one major customer and a few key suppliers could create vulnerabilities if those relationships change.
- Tariffs and trade tensions could reduce demand or margins, especially if the company cannot pass higher costs on to customers.
- Profitability remains modest, and if sales growth does not translate into higher operating income, results could stay fragile.
What to watch
- Development of the backlog and PMT sales, particularly with semiconductor customersQ1 2027
- Gross margin in the GES and Canvys segments relative to product mix changesQ1 2027
- Effect of tariffs on import costs and customer demandnext 10-K
- Integration and benefits of the DirectMed supply agreement and the healthcare asset sale2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
Richardson Electronics, Ltd. is a global manufacturer of engineered solutions, green energy products, power grid and microwave tubes, power conversion and RF components, tubes for diagnostic imaging equipment and customized display solutions.1 The company manufactures in LaFox (Illinois), Marlborough (Massachusetts) and Donaueschingen (Germany), and its model rests on specialized technical expertise, design-in support, systems integration, testing, logistics and aftermarket service.1 More than 55% of products are made in these locations or by partners, and 60% of sales in fiscal 2026 were made outside the United States.12
Segments
Power and Microwave Technologies (PMT)
PMT is the largest segment, combining engineered solutions, power grid and microwave tubes with RF, wireless and power technologies; its sales reached 160.5 million USD in fiscal 2026.1 Growth came from strong demand for RF and wireless components and semiconductor wafer fab equipment, and one customer in this segment accounted for 14% of consolidated sales.1
Green Energy Solutions (GES)
GES designs products for energy storage and power management in wind, solar, hydrogen and electric vehicle applications; sales reached 30.8 million USD in fiscal 2026.1 Growth came from new customers, new power management products and higher market share, although gross margin declined on less favorable product mix.1
Canvys
Canvys supplies customized display solutions, including touch screens, protective panels, enclosures and All-In-One computers, for corporate, financial, medical and industrial markets; sales rose to 37.3 million USD in fiscal 2026.1 The increase was mainly due to higher sales in North America.1
Market context
The company serves alternative energy, healthcare, aviation, broadcast, communications, industrial, military and semiconductor markets.1 In the fourth quarter of fiscal 2026, demand for RF and microwave products and semiconductor wafer fab equipment was strong, and backlog reached 164.4 million USD.3 The release describes the broader economic environment as fluid, and trade tensions and tariffs could weigh on demand and margins.12
Trends
- Demand for semiconductor and RF equipmenttailwind
PMT sales growth was supported by wafer fab semiconductor products and RF and wireless components, and the company reported eight consecutive quarters of year-over-year sales growth.13
- Green energy and power managementmixed
Demand for energy storage and electric vehicle applications brought new customers and products, although product mix pressured segment gross margin.1
- Tariffs and trade tensionsheadwind
Products made abroad and imported into the United States are exposed to tariffs; if higher prices reduce demand or the company cannot pass costs to customers, sales and margins could be affected.12
- Portfolio reshaping and healthcare asset salemixed
After selling most of its healthcare business to DirectMed, the company reduced its segment count and now relies on supplying repaired CT tubes to the buyer under a supply agreement.1
Competitive position
Competition in vacuum tubes is limited, with few tube competitors, though a number of Chinese manufacturers have improved their capabilities; the most significant competitive risk is technical obsolescence.1 In the Canvys business competition is intense, and price reductions or lost market share could reduce margins.1
- Chinese vacuum tube manufacturers
The filing notes their improving production ability without naming specific firms.
- Large display manufacturers
Canvys competes with display makers that have larger volume commitments, while positioning itself on very specific design requirements.
- Power conversion and energy management component providers
The GES segment competes in green energy markets where several other players are active.
- Microwave and RF component suppliers named as partners or peers
The filing lists suppliers such as L3, Qorvo, MACOM and Thales, indicating a concentrated field of specialist competitors.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
- Richardson Electronics Sees Fiscal 2027 Growth as Semiconductor, Energy Demand RisesYahoo Finance — News · 29 Aug 2026 · EN
The latest news item in our archive is from 29 Aug 2026; the newest SEC filing is from 08 Oct 2026. The press archive comes from the RSS feeds we follow and does not necessarily cover the latest event — the filings alongside do.
SEC filings
- Current report (amendment)08 Oct 2026Results of operations · Financial statements and exhibits
- Quarterly report08 Oct 2026
- Current report07 Oct 2026Acquisition or disposition of assets · Financial statements and exhibits
- Proxy statement21 Aug 2026
- Annual report03 Aug 2026
- Current report22 Jul 2026Results of operations · Financial statements and exhibits
- Quarterly report09 Apr 2026
- Current report08 Apr 2026Results of operations · Financial statements and exhibits
- Quarterly report08 Jan 2026
- Current report07 Jan 2026Results of operations · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2026-05-30 · SEC / Richardson Electronics, Ltd. · 03 Aug 2026
- [2] Form 10-Q, quarter ended 2026-08-29 · SEC / Richardson Electronics, Ltd. · 08 Oct 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Richardson Electronics, Ltd. · 22 Jul 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.