Franklin Wireless Corp. (FKWL) Stock

Franklin Wireless Corp. (FKWL) is a Technology stock trading at $2.42 (as of 2026-08-20), with a market capitalization of $28.46M. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Franklin Wireless Corp. designs wireless connectivity products, including mobile hotspots, routers, trackers, and related hardware/software components used for machine-to-machine and IoT applications. It offers embedded modules, modems, and gateways supporting cellular networks, and sells directly to wireless operators and through partners and distributors across North America, the Caribbean, South America, and Asia.

Understand Franklin Wireless Corp.: how it makes money

Franklin Wireless Corp. provides intelligent wireless solutions, selling mobile hotspots, routers, trackers, embedded modules, and modem and gateway devices that enable M2M and IoT connectivity, generating revenue by marketing directly to wireless operators and also through strategic partners and distributors.

Profit is driven by selling connectivity hardware and embedded IoT components (modems, gateways, modules, and devices) that deliver 5G/4G-enabled M2M and IoT functionality, with sales flowing through both direct operator channels and partner and distributor routes.

Business quality (Weak): Based on the provided dataset, there are no official reportable segment figures or operating KPIs listed, which limits visibility into what parts of the business drive performance. The latest quarter shows gross margin of 16.1% and an operating margin of -43.9%, so investors would likely focus on whether the company can scale and improve operating leverage.

Bull case

Product breadth for M2M and IoT: The company offers device types (mobile hotspots, routers, trackers) plus embedded modules and modem and gateway solutions that support machine to machine and Internet of Things applications.
Wireless connectivity positioned around 5G/4G spectrum applications: Its connectivity solutions are described as delivering support for spectrum-based applications using 5G and 4G wireless technology.
Go-to-market includes both direct and partner-led channels: It markets products directly to wireless operators and indirectly through strategic partners and distributors, which can broaden reach.

Bear case

Operating losses in the latest reported quarter: The provided latest-quarter operating margin is -43.9%, indicating ongoing profitability challenges.
Limited gross margin headroom in the latest reported quarter: The provided latest-quarter gross margin is 16.1%, which may constrain the ability to cover operating costs if revenue or mix changes.
Dependence on operator spending and partner and distributor execution: Because the company sells directly to wireless operators and through partners and distributors, results may be sensitive to operator demand and channel performance.

Valuation — source: SEC EDGAR (first-party)
Price	$2.42
Market Cap	$28.46M
Price / Book	0.78
Price / Sales	0.79
FCF Yield	-46.2%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$46.09M
Net Margin	-0.5%
Revenue Growth (YoY)	-57.0%
EPS Growth (YoY)	160.0%
FCF Growth (YoY)	979.7%

Financial Health — source: SEC EDGAR
Altman Z-Score	3.43 (safe)

Valuation vs Sector & Industry
Sector P/E (Technology)	33.9
Industry P/E (Electronic Equipment)	39.4

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	VANGUARD GROUP INC ($1.98M)
Institutional Holders Tracked	10

Company
Sector	Technology
Industry	Electronic Equipment
CEO	Chae Kim
Employees	69
Country	US
IPO Date	2007-08-03

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Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.