RF Industries, Ltd. (RFIL) Income Statement
RFIL FY2025 at a glance
Fiscal year ended October 31, 2025 · U.S. dollarsRFIL revenue and net income
Where RFIL's revenue goes
FY2025Each bar shows an amount and its share of revenue. RFIL kept 0.1% of revenue as net income.
RFIL profit margins
RFIL growth rates
to FY2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +24.3% | −1.9% | +13.4% | +9.4% |
| Gross profit | +66.2% | +7.3% | +18.2% | +10.7% |
| Operating income | — | −20.0% | — | +14.0% |
| Net income | — | −62.7% | — | −22.8% |
| EPS (diluted) | — | −3.8% | +52.3% | +14.1% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
RFIL quarterly EPS vs estimates
RF Industries beat the analyst EPS estimate in 6 of the last 8 quarters.
RFIL income statement
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $80.6M | $64.9M | $72.2M | $85.3M | $57.4M | $43.0M | $55.3M | $50.2M | $31.0M | $30.2M |
| Cost of revenue | $53.9M | $48.8M | $52.6M | $63.6M | $39.7M | $31.5M | $39.7M | $34.6M | $22.2M | $22.5M |
| Gross profit | $26.7M | $16.1M | $19.5M | $21.6M | $17.8M | $11.6M | $15.6M | $15.6M | $8.7M | $7.7M |
| Research & development | $3.0M | $2.8M | $3.2M | $2.9M | $1.5M | $2.0M | $1.5M | $1.5M | $845,000 | $747,000 |
| Sales, general & admin | $22.0M | $18.9M | $20.2M | $19.4M | $11.9M | $10.0M | $9.7M | $8.2M | $7.5M | $9.6M |
| Total operating expenses | $25.0M | $18.7M | $23.3M | $18.1M | $13.4M | $12.0M | $11.2M | $8.2M | $8.4M | $8.7M |
| Operating income | $1.8M | −$2.6M | −$3.8M | $3.5M | $4.4M | −$403,000 | $4.5M | $7.4M | $371,000 | −$1.0M |
| Interest expense | — | — | — | $601,000 | $3.6M | $969,000 | $661,000 | $133,000 | $145,000 | $5.7M |
| Income before taxes | $813,000 | −$3.8M | −$4.2M | $1.6M | $7.2M | −$448,000 | $4.6M | $7.5M | $400,000 | −$4.7M |
| Income taxes | $738,000 | $2.8M | −$1.2M | $139,000 | $1.0M | −$367,000 | $1.0M | $1.5M | $134,000 | −$652,000 |
| Net income | $75,000 | −$6.6M | −$3.1M | $1.4M | $6.2M | −$81,000 | $3.5M | $6.6M | $382,000 | −$4.1M |
| EBITDA | $5.3M | −$1.3M | −$3.8M | $3.3M | $5.2M | $611,000 | $5.0M | $8.0M | $1.2M | −$3.6M |
| EPS (diluted) | $0.41 | −$0.02 | −$0.07 | $0.46 | $0.64 | $0.05 | $0.34 | $0.63 | $0.04 | −$0.46 |
| Gross margin | 33.2% | 24.8% | 27.1% | 25.4% | 30.9% | 26.9% | 28.3% | 31.1% | 28.2% | 25.5% |
| Operating margin | 2.2% | −4.0% | −5.3% | 4.1% | 7.7% | −0.9% | 8.1% | 14.8% | 1.2% | −3.4% |
| Net margin | 0.1% | −10.2% | −4.3% | 1.7% | 10.8% | −0.2% | 6.4% | 13.2% | 1.2% | −13.5% |
| Jul '26 | Apr '26 | Jan '26 | Oct '25 | Jul '25 | Apr '25 | Jan '25 | Oct '24 | Jul '24 | Apr '24 | Jan '24 | Oct '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $24.0M | $20.7M | $19.0M | $22.7M | $19.8M | $18.9M | $19.2M | $18.5M | $16.8M | $16.1M | $13.5M | $15.9M |
| Cost of revenue | $15.4M | $13.4M | $12.8M | $14.3M | $13.1M | $13.0M | $13.5M | $13.4M | $12.5M | $11.9M | $10.9M | $12.0M |
| Gross profit | $8.5M | $7.3M | $6.1M | $8.3M | $6.7M | $6.0M | $5.7M | $5.1M | $4.3M | $4.2M | $2.5M | $3.9M |
| Research & development | $1.1M | $915,000 | $852,000 | $858,000 | $759,000 | $683,000 | $682,000 | $723,000 | $653,000 | $637,000 | $769,000 | $616,000 |
| Sales, general & admin | $5.7M | $5.3M | $5.1M | $6.6M | $5.2M | $5.2M | $5.0M | $5.0M | $4.7M | $4.6M | $4.6M | $5.0M |
| Total operating expenses | $6.8M | $6.2M | $5.9M | $7.4M | $6.0M | $5.8M | $5.7M | $5.0M | $4.7M | $4.5M | $4.5M | $4.8M |
| Operating income | $1.8M | $1.1M | $177,000 | $903,000 | $720,000 | $106,000 | $56,000 | $96,000 | −$419,000 | −$315,000 | −$2.0M | −$957,000 |
| Interest expense | — | — | — | — | — | — | — | — | — | — | — | $225,000 |
| Income before taxes | $1.5M | $939,000 | −$16,000 | $652,000 | $480,000 | −$110,000 | −$209,000 | −$208,000 | −$757,000 | −$645,000 | −$2.2M | −$1.2M |
| Income taxes | $84,000 | $60,000 | $34,000 | $479,000 | $88,000 | $135,000 | $36,000 | $30,000 | −$52,000 | $3.6M | −$831,000 | −$366,000 |
| Net income | $1.4M | $879,000 | −$50,000 | $173,000 | $392,000 | −$245,000 | −$245,000 | −$238,000 | −$705,000 | −$4.3M | −$1.4M | −$851,000 |
| EBITDA | $2.4M | $1.7M | $602,000 | $1.3M | $1.3M | $721,000 | $672,000 | $424,000 | −$119,000 | −$12,000 | −$1.6M | −$579,000 |
| EPS (diluted) | $0.16 | $0.12 | $0.06 | $0.20 | $0.10 | $0.07 | $0.04 | $0.04 | −$0.01 | $0.01 | −$0.06 | −$0.01 |
| Gross margin | 35.6% | 35.1% | 32.3% | 36.8% | 34.0% | 31.5% | 29.8% | 27.4% | 25.6% | 26.0% | 18.8% | 24.5% |
| Operating margin | 7.3% | 5.3% | 0.9% | 4.0% | 3.6% | 0.6% | 0.3% | 0.5% | −2.5% | −2.0% | −14.7% | −6.0% |
| Net margin | 6.0% | 4.2% | −0.3% | 0.8% | 2.0% | −1.3% | −1.3% | −1.3% | −4.2% | −26.7% | −10.1% | −5.4% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in RFIL's financial statements (latest annual report filed January 14, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
RFIL financial results
In fiscal year 2025 (ended October 31, 2025), RF Industries reported revenue of $80.6 million, up 24.3% from the year before. It had net income of $0.1 million, a net profit margin of 0.1%. Diluted earnings per share came to $0.41. Over five years revenue grew at an average rate of 13.4% a year.
See the RFIL stock overview for the latest quote and news, or the RFIL chart for price history and technical indicators.
RFIL income statement FAQ
What is RF Industries's annual revenue?
RF Industries reported total revenue of $80.6 million for fiscal year 2025, which ended on October 31, 2025. That was up 24.3% from $64.9 million the previous year.
Is RF Industries profitable?
Yes. RF Industries reported net income of $0.1 million in fiscal 2025, a net profit margin of 0.1%; its operating margin was 2.2%.
What is RF Industries's gross margin?
RF Industries's gross margin was 33.2% in fiscal 2025: for every $100 of revenue, RF Industries kept $33 after the direct cost of its products and services.
How much does RF Industries spend on research and development?
RF Industries spent $3.0 million on research and development in fiscal 2025, 3.7% of revenue.
How fast is RF Industries growing?
Revenue grew 13.4% a year on average over the last five fiscal years, from $43.0 million to $80.6 million.
What are RF Industries's earnings per share?
RF Industries earned $0.41 per diluted share in fiscal 2025, compared with $-0.02 a year earlier.
When does RF Industries's fiscal year end?
RF Industries's fiscal year ends in October. The latest annual report covers the year ended October 31, 2025 and was filed on January 14, 2026.