CERAGON NETWORKS LTD CRNT
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No price or market cap here: this company files no 10-K, so the only share count SEC publishes for it counts its ordinary shares in its home market, while its US listing is a depositary receipt standing for some number of them. That number is in no filing, so a price multiplied by that count is not this company's value and is not shown. The financial statements below are as filed.
Valuation FY2025 figures against the last close
P/S—
P/E—
P/FCF—
EV/EBITDA—
Dividend yield—
Diluted EPS-0.02
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $338.7M | $394.2M | $347.2M | $295.2M | $290.8M | $262.9M | $285.6M | $343.9M | $332.0M | $293.6M |
| Cost of revenue | $224.2M | $257.3M | $227.3M | $202.1M | $202.4M | $187.2M | $188.7M | $227.7M | $224.7M | $194.5M |
| Gross profit | $114.6M | $136.9M | $119.9M | $93.1M | $88.4M | $75.6M | $96.8M | $116.2M | $107.3M | $99.2M |
| R&D | $30.4M | $35.0M | $32.3M | $29.7M | $29.5M | $31.0M | $26.8M | $28.2M | $25.7M | $21.7M |
| SG&A | $24.4M | $14.2M | $23.8M | $34.3M | $20.6M | $19.2M | $23.3M | $18.9M | $16.8M | $20.4M |
| Total operating expenses | $107.3M | $98.1M | $98.7M | $104.0M | $83.6M | $83.2M | $89.5M | $90.0M | $84.2M | $79.7M |
| Operating income | $7.2M | $38.7M | $21.2M | -$10.9M | $4.8M | -$7.6M | $7.3M | $26.1M | $23.1M | $19.5M |
| Interest expense | $5.0M | $6.0M | $7.5M | $5.0M | $4.7M | $4.1M | $3.8M | $4.6M | $4.8M | $3.8M |
| Pre-tax income | $708.0K | $27.3M | $12.7M | -$17.2M | -$3.8M | -$13.5M | $781.0K | $19.8M | $17.3M | $13.2M |
| Income tax | $2.8M | $3.2M | $6.5M | $2.4M | $11.0M | $2.6M | $2.5M | $3.3M | $1.7M | $1.8M |
| Net income | -$2.1M | $24.1M | $6.2M | -$19.7M | -$14.8M | -$17.1M | -$2.3M | $23.0M | $15.6M | $11.4M |
| EPS, basic | -0.02 | 0.28 | 0.07 | -0.23 | -0.18 | -0.21 | -0.03 | 0.29 | 0.20 | 0.15 |
| EPS, diluted | -0.02 | 0.27 | 0.07 | -0.23 | -0.18 | -0.21 | -0.03 | 0.28 | 0.19 | 0.15 |
| Shares, diluted (wtd. avg.) | $89.8M | $88.5M | $85.5M | $84.1M | $83.4M | $81.1M | $80.3M | $81.0M | $79.9M | $78.6M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $38.4M | $35.3M | $28.2M | $22.9M | $17.1M | $27.1M | $23.9M | $35.6M | $25.9M | $36.3M |
| Receivables | $99.7M | $149.6M | $104.3M | $100.0M | $107.8M | $107.4M | $118.5M | $123.5M | $113.7M | $107.4M |
| Inventory | $61.6M | $59.7M | $68.8M | $72.0M | $61.4M | $50.6M | $62.1M | $53.5M | $54.2M | $45.6M |
| Total current assets | $225.2M | $261.0M | $217.9M | $210.7M | $203.5M | $199.9M | $215.6M | $225.2M | $210.8M | $206.5M |
| Property, plant and equipment | $40.0M | $36.8M | $30.7M | $29.5M | $29.4M | $31.7M | $34.9M | $33.6M | $29.9M | $27.6M |
| Goodwill | $11.0M | $7.7M | $7.7M | $0 | — | — | — | — | — | — |
| Other intangibles | $23.2M | $16.8M | $16.4M | $8.2M | $6.3M | $6.1M | $7.9M | $6.6M | $2.2M | $1.5M |
| Total assets | $317.0M | $345.0M | $298.5M | $289.3M | $292.6M | $272.4M | $289.9M | $283.0M | $253.6M | $244.2M |
| Accounts payable | $70.8M | $91.2M | $67.0M | $67.4M | $69.4M | $63.7M | $59.6M | $78.9M | $75.5M | $68.4M |
| Short-term debt | $19.0M | $25.2M | $32.6M | $37.5M | $14.8M | $6.0M | $14.6M | — | — | $17.0M |
| Total current liabilities | $120.2M | $151.4M | $133.0M | $132.8M | $115.7M | $100.4M | $104.4M | $110.2M | $105.5M | $110.5M |
| Retained earnings | -$253.2M | -$251.1M | -$275.2M | -$281.4M | -$261.7M | -$246.9M | -$229.1M | -$226.8M | -$249.9M | -$265.4M |
| Total equity | $172.8M | $166.3M | $134.0M | $119.8M | $137.2M | $146.1M | $160.4M | $159.6M | $133.9M | $116.2M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $31.6M | $26.2M | $30.9M | -$4.9M | -$15.0M | $17.2M | -$12.9M | $22.5M | $17.2M | $25.8M |
| Depreciation and amortisation | $10.8M | $10.3M | $9.3M | $10.6M | $11.8M | $10.7M | $9.6M | $7.8M | $7.7M | $8.4M |
| Stock-based compensation | $4.1M | $4.3M | $4.0M | $3.6M | $2.6M | $1.7M | $2.1M | $2.0M | $1.2M | $1.1M |
| Capital expenditure | $13.6M | $14.6M | $10.0M | $10.5M | $9.4M | $6.1M | $11.6M | $10.3M | $8.5M | $8.2M |
| Investing cash flow | -$24.0M | -$16.5M | -$20.9M | -$12.4M | -$9.4M | -$6.5M | -$13.9M | -$15.3M | -$10.9M | -$8.2M |
| Financing cash flow | -$5.5M | -$1.5M | -$4.9M | $23.1M | $14.5M | -$7.4M | $15.2M | $2.6M | -$16.7M | -$17.8M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001178913-26-002118.
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