Richardson Electronics, Ltd. (RELL) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-59.2%

$7.96

vs $19.50 price

Levered DCF

$0.93

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

6.69

Safe zone

Rating

A-

Overall 4 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	37.73×	-96.34×	2,602.33×	12.6×	10.36×	65.77×	-30×	-8.91×
P/B	1.3×	0.7×	1.01×	1.51×	1.37×	0.91×	0.46×	0.53×
P/S	0.93×	0.53×	0.81×	0.91×	0.83×	0.63×	0.35×	0.39×
EV / EBITDA	16.13×	11.53×	30.94×	7.57×	7.98×	12.25×	12.49×	-7.36×
Gross margin	31.2%	31.0%	28.3%	31.9%	31.9%	33.2%	31.9%	31.0%
Operating margin	2.8%	-1.2%	0.2%	9.5%	7.1%	1.6%	-1.1%	-0.3%
Net margin	2.8%	-0.5%	0.0%	8.5%	8.0%	0.9%	-1.2%	-4.4%
Current ratio	4.75×	4.51×	5.05×	4.59×	3.72×	4.17×	4.34×	4.63×
Debt / equity	0.01×	0.01×	0.02×	0.02×	0.02×	0.02×	0.03×	0×
Interest coverage	0×	0×	0×	0×	0×	0×	0×	0×
Dividend yield	1.6%	3.1%	2.1%	1.4%	1.7%	2.8%	5.7%	4.7%
Payout ratio	53.9%	-298.1%	5534.4%	14.9%	17.8%	188.6%	-168.7%	-42.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	3.9%	-0.7%	0.0%	14.0%	13.2%	1.4%	-1.5%	-5.9%
Return on invested capital	3.3%	-1.1%	0.1%	13.7%	11.4%	1.7%	-1.3%	-0.3%
Return on assets	3.2%	-0.6%	0.0%	11.3%	10.0%	1.1%	-1.2%	-4.8%
Free cash flow yield	-1.7%	7.0%	1.6%	-6.5%	-0.7%	-1.6%	0.3%	-9.9%
Earnings yield	3.0%	-1.0%	0.0%	9.3%	9.7%	1.5%	-3.4%	-11.3%
Enterprise value	$181.7M	$76.4M	$138.1M	$217.3M	$153.1M	$70.2M	$27.1M	$23.1M
Net debt / EBITDA	-2.7×	-5.07×	-4.82×	-0.78×	-1.69×	-7.13×	-12.48×	13.39×
Cash conversion cycle (days)	247	248	292	219	183	196	185	168