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Frequency ElectronicsFRA:98K -9.67%59 3-Year ROIIC % is 16.25 as of Apr. 2026, which is 2% above its 10-year median of 16.00. GuruFocus rates FRA:98K with a GF Score™ of 59/100 and a GF Value™ of €11.50 (Significantly Overvalued). The stock has 4 warning signs investors should review. Among 2,373 Hardware companies, Frequency Electronics ranks better than 67.72% on this metric.
3-Year Return on Invested Incremental Capital (3-Year ROIIC %) measures the change in earnings as a percentage of change in investment over 3-year.
Frequency Electronics's 3-Year ROIIC % for the quarter that ended in Apr. 2026 was 16.25%. High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
The industry rank for Frequency Electronics's 3-Year ROIIC % or its related term are showing as below:
FRA:98K's 3-Year ROIIC % is ranked better than 67.72% of 2373
companies
in the Hardware industry
Industry Median: 2.33
vs FRA:98K: 16.25
Frequency Electronics (FRA:98K) 3-Year ROIIC % Explanation
Return on Incremental Invested Capital (ROIIC) is an extension of Return on Investment Capital (ROIC). ROIC % tells investors how efficiently that profitability is earned per dollar of company capital. ROIIC narrows the focus even further and shows how profitable each additional unit of capital investment could be. ROIIC % is a more powerful metric than ROIC because it measures how much money the company can generate going forward on future capital investments.
High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
Be Aware
It's important to keep in mind that when tracking ROIIC, the metric is better suited to forecasting the trend of future returns rather than measuring current return on investment.
Frequency Electronics 3-Year ROIIC % Related Terms
Frequency Electronics 3-Year ROIIC % Historical Data
* Premium members only.
The historical data trend for Frequency Electronics's 3-Year ROIIC % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
FRA:98K vs NTGR, CLFD, GILT: 3-Year ROIIC % Comparison
For the Communication Equipment subindustry, Frequency Electronics's 3-Year ROIIC %, along with its competitors' market caps and 3-Year ROIIC % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Frequency Electronics 3-Year ROIIC % vs Hardware Industry
For the Hardware industry and Technology sector, Frequency Electronics's 3-Year ROIIC % distribution charts can be found below:
* The bar in red indicates where Frequency Electronics's 3-Year ROIIC % falls into.
Frequency Electronics's 3-Year ROIIC % for the quarter that ended in Apr. 2026 is calculated as:
3-Year ROIIC %
=
3-Year Incremental Net Operating Profit After Taxes (NOPAT)**
/
3-Year Incremental Invested Capital**
=
( -0.796743 (Apr. 2026) - -4.261 (Apr. 2023) )
/
( 70.257 (Apr. 2026) - 53.954 (Apr. 2023) )
=
3.464257
/
16.303
=
21.25%***
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
** Annual data of NOPAT and Invested Capital was used to calculate 3-Year ROIIC %.
*** Please be aware that the ROIIC (Return on Invested Capital) calculations are based on company-level data using the primary share class. The calculated data provided is for demonstration purposes and may slightly differ from the results displayed in the title due to potential variations caused by currency exchange rate differences throughout the year.
Frequency Electronics (FRA:98K) has a 3-Year ROIIC % of 16.25 as of Apr. 2026. 3-Year ROIIC % measures the change in earnings as a percentage of change in investment over 3-year. View historical data on Frequency Electronics and its competitors. This is near median its historical median of 16.00. According to the industry distribution chart, Frequency Electronics ranks #766 out of 2373 companies in the Hardware industry, placing it in the top 32.3%.
Is Frequency Electronics' 3-Year ROIIC % too high?
Frequency Electronics' current 3-Year ROIIC % of 16.25 is near median its 10-year median of 16.00. The Hardware industry median 3-Year ROIIC % is 2.33. Frequency Electronics' value of 16.25 is 597.4% above this industry median. Based on the distribution chart, Frequency Electronics ranks #766 out of 2373 companies in the Hardware industry, which is above the industry midpoint. Overall, Frequency Electronics has a GF Score™ of 59/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Frequency Electronics' 3-Year ROIIC % compare to NTGR and CLFD?
According to the Hardware industry distribution chart, Frequency Electronics ranks #766 out of 2373 companies for 3-Year ROIIC %. This puts Frequency Electronics in the upper half of its industry. The industry median 3-Year ROIIC % is 2.33. Frequency Electronics' value of 16.25 is 597.4% above this benchmark. While the company's 10-year median is 16.00 vs. the industry median of 2.33, Frequency Electronics has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good 3-Year ROIIC % for a Hardware company?
The median 3-Year ROIIC % among Hardware companies is 2.33, based on 2,373 companies in the industry. Companies in the top quartile (top 25%) have a 3-Year ROIIC % significantly above this median, while those in the bottom quartile fall well below. However, 3-Year ROIIC % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Frequency Electronics's current 3-Year ROIIC % of 16.25 is 597.4% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high 3-Year ROIIC % mean?
A high 3-Year ROIIC % can signal that a stock is expensive relative to its fundamentals. 3-Year ROIIC % measures the change in earnings as a percentage of change in investment over 3-year. View historical data on Frequency Electronics and its competitors. For the Hardware industry, the median 3-Year ROIIC % is 2.33 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Frequency Electronics's current 3-Year ROIIC % is 16.25, which is near median its own 10-year median of 16.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Frequency Electronics stock overvalued right now?
Based on GuruFocus' analysis, Frequency Electronics (FRA:98K) is currently considered Significantly Overvalued. The stock's GF Value™ is €11.50, compared to a current price of €56.95 — trading 395.2% above its estimated fair value. The current 3-Year ROIIC % is 16.25, which is near median its 10-year median of 16.00 and 597.4% above the Hardware industry median of 2.33. Frequency Electronics' overall GF Score™ is 59/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is 3-Year ROIIC % calculated?
3-Year ROIIC % is calculated from a company's financial statements. For Frequency Electronics (FRA:98K), the current 3-Year ROIIC % is 16.25 as of Apr. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Frequency Electronics (FRA:98K) Overvalued in 2026?
Based on GuruFocus' analysis, Frequency Electronics stock appears to be overvalued.
The current stock price of €56.95 is trading 395.2% above its estimated GF Value™ of €11.50.
GuruFocus considers Frequency Electronics to be Significantly Overvalued.
Key valuation signals for FRA:98K:
3-Year ROIIC %: 16.25 (near median its 10-year median of 16.00)
GF Value™: €11.50 vs. price of €56.95 (395.2% above fair value)
Industry Position: 597.4% above the Hardware median (#766 of 2373)
No single metric tells the full story. See the FRA:98K stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Frequency Electronics Inc is engaged in the design, development, and manufacture of high-precision timing, and frequency control products for space, air, sea, and terrestrial applications. The company has FEI-NY and FEI-Zyfer reportable segments. It derives the majority of its revenues from the FEI-NY segment. FEI-NY segment operations consist principally of precision time and frequency control products used in three principal markets namely communication satellites (both commercial and U.S. Government-funded); terrestrial cellular telephone or other ground-based telecommunication stations; and other components and systems for the U.S. military.
59GF Score
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