HIGHBuilt-in & outside partyCustomer
95%
FEI-Zyfer segment: U.S. Government end users
“10-K Item 1: 'More than 95% of FEI-Zyfer’s revenues are derived from sales where the end user is the U.S. Government.'”
FEIM · Concentration risk · 10-K extracted
Frequency Electronics (FEIM) concentration risks
Updated
The most significant concentration Frequency Electronics discloses is FEI-Zyfer segment: U.S. Government end users at 95%, classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Source: Frequency Electronics’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 5 disclosed concentrations
HIGH4
MEDIUM1
LOW0
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
HIGHBuilt-in & outside partyCustomer
94%
U.S. Government (contracts/subcontracts)
“10-K Item 1: 'approximately 94% and 98%, respectively, of the Company’s sales were made under contracts to the U.S. Government or subcontracts for U.S. Government end-use.'”
HIGHBuilt-inProduct / Revenue mix
76%
FEI-NY segment
“10-K Item 1: 'During fiscal years 2025 and 2024, approximately 76% and 73%, respectively, of the Company’s consolidated revenues were from products sold by the FEI-NY segment.'”
HIGHOutside partySupplier
space-qualified suppliers (e.g., circuit boards)
“10-K Item 1A: 'The Company is reliant on suppliers who are space-qualified, limiting the ability to procure certain key materials, such as circuit boards, from other vendors.'”
MEDIUMOutside partyCustomer
Northrop Grumman
“10-K Item 1: 'During fiscal year 2025, Northrop Grumman Company (“Northrop Grumman”) accounted for more than 10% of the Company’s consolidated revenues.'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-09-06Frequency Electronics' revenue is concentrated overwhelmingly around a single customer type across multiple segments. More than 95% of the FEI-Zyfer segment's revenues are derived from sales where the end user is the U.S. Government, and at the consolidated level approximately 94% of sales were made under contracts to the U.S. Government or subcontracts for U.S. Government end-use in the most recent fiscal year, down from 98% the year before — both high-share, mixed-character exposures. Segment concentration compounds this: approximately 76% of consolidated revenues in fiscal year 2025, up from 73% the year before, came from products sold by the FEI-NY segment, a high-share, structural tilt toward one part of the business. On the supply side, the company is reliant on space-qualified suppliers for certain key materials such as circuit boards, a high-share dependency limiting its ability to procure those materials elsewhere. Layered on top, Northrop Grumman alone accounted for more than 10% of consolidated revenues in fiscal year 2025, a medium-share customer dependency within the broader government base. Together, these describe a business whose fate is tied almost entirely to U.S. government defense and space spending, funneled through one dominant segment and constrained by a narrow, specialized supplier base.
For the engine’s reasoning on FEIM’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Communication Equipment
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| FEIM● | Frequency Electronics, Inc. | 4 | 1 | 0 | 5 |
| AAOI | Applied Optoelectronics, Inc. | 2 | 1 | 0 | 3 |
| ADTN | ADTRAN Holdings, Inc. | 1 | 0 | 2 | 3 |
| CIEN | Ciena Corporation | 0 | 2 | 2 | 4 |
| BDC | Belden Inc | 0 | 2 | 1 | 3 |
| ASTS | AST SpaceMobile, Inc. | 0 | 0 | 0 | 0 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.