Richardson Electronics, Ltd.
RELL Technology Electronic Components
Richardson Electronics, Ltd.’s revenue for fiscal 2026 (year ended May 2026) was $228.6 million, up 9.41% from fiscal 2025. In the quarter to August 2026, revenue grew 18.9%, EPS grew 112.4% and free cash flow grew 1,121.1%, each against the same quarter a year earlier. Dividend growth for ten consecutive years.
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Richardson Electronics, Ltd. (RELL) Altman Z-score
Richardson Electronics, Ltd.'s Altman Z-score for fiscal 2026 is 6.48, in the safe zone (above 2.99).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2026 | 6.48 | 2.13 |
| FY2025 | 4.35 | (0.87) |
| FY2024 | 5.22 | (1.53) |
| FY2023 | 6.75 | 1.36 |
| FY2022 | 5.39 | 1.02 |
| FY2021 | 4.37 | 1.06 |
| FY2020 | 3.31 | (0.34) |
| FY2019 | 3.65 | (1.19) |
| FY2018 | 4.84 | 0.83 |
| FY2017 | 4.01 | 0.30 |
How fiscal 2026’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.68 | — | 0.81 | |
| Retained earnings / total assets | 0.41 | — | 0.57 | |
| EBIT / total assets | 0.03 | — | 0.11 | |
| Market value of equity / total liabilities | 6.44 | — | 3.86 | |
| Sales / total assets | 1.13 | — | 1.13 | |
| Altman Z-score | Safe zone | 6.48 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Safe zone | 10.46 | ||
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| MPTI M-tron Industries, Inc. compare | 20.4× |
| LPTH LightPath Technologies, Inc. compare | 10.6× |
| KULR KULR Technology Group, Inc. compare | 7.2× |
| RELL Richardson Electronics, Ltd. | 6.5× |
| OPTX Syntec Optics Holdings, Inc. compare | 6.0× |
| DAKT Daktronics, Inc. compare | 5.1× |
| LYTS LSI Industries Inc. compare | 2.5× |
| KOPN Kopin Corporation compare | 2.1× |
| MEI Methode Electronics, Inc. compare | 1.9× |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets