A Business at a Glance
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RADWARE LTD
RDWR
$1.3B
Mkt Cap
$28.00
+0.00%
INFORMATION ON THE COMPANY A. History and Development of the Company Corporate History and Details Radware Ltd. was organized in May 1996 as a corporation under the laws of the State of Israel and commenced operations in 1997. Our principal executive offices are located at 22 Raoul Wallenberg Street, Tel Aviv 6971917, Israel and our telephone number is 972-3-766-8666. Our website address is www.radware.com (information contained on our website is not incorporated herein by reference and shall not constitute part of this annual report). In addition, the SEC maintains a website that contains reports, proxy and information statements, and other information regarding issuers that file electronically with the SEC: http://www.sec.gov. As of September 1, 1998, we established Radware Inc.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 302M | 302M | 275M | 261M | 293M | 286M |
| Net Income | 20M | 20M | 6.0M | -22M | -166K | 7.8M |
| EPS | $0.45 | $0.45 | $0.14 | $-0.50 | $-0.00 | $0.16 |
| Free Cash Flow | 42M | 42M | 66M | -8.9M | 23M | 66M |
| ROIC | 3.2% | 4.2% | 2.0% | -7.0% | -0.0% | 4.3% |
| Gross Margin | 48.2% | 48.2% | 46.4% | 41.9% | 45.2% | 45.0% |
| Debt/Equity | 0.00 | 0.80 | 0.83 | 0.88 | 0.83 | 0.72 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 11M | 11M | -3.9M | -32M | -3.3M | 18M |
| Operating Margin | 3.8% | 3.8% | -1.4% | -12.1% | -1.1% | 6.4% |
| ROE | 5.8% | 6.1% | 2.0% | -7.0% | -0.0% | 2.1% |
| Shares Outstanding | 45M | 45M | 43M | 43M | 44M | 49M |
| Metric | 2014 | 2015 | 2016 | 2025 | TTM | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 222M | 217M | 197M | 211M | 234M | 252M | 250M | 286M | 293M | 261M | 275M | 302M | 302M |
| Gross Margin | 46.4% | 46.3% | 37.3% | 40.7% | 42.0% | 46.6% | 44.1% | 45.0% | 45.2% | 41.9% | 46.4% | 48.2% | 48.2% |
| R&D | 44M | 50M | 52M | 59M | 58M | 62M | 67M | 74M | 87M | 83M | 75M | 79M | 79M |
| SG&A | 20M | 17M | 18M | 18M | 16M | 19M | 19M | 22M | 30M | 32M | 28M | 26M | 26M |
| EBIT | 25M | 18M | -13M | -6.7M | 7.5M | 17M | 6.2M | 18M | -3.3M | -32M | -3.9M | 11M | 11M |
| Op. Margin | 11.3% | 8.3% | -6.5% | -3.2% | 3.2% | 6.7% | 2.5% | 6.4% | -1.1% | -12.1% | -1.4% | 3.8% | 3.8% |
| Net Income | 25M | 19M | -8.7M | -7.5M | 12M | 23M | 9.6M | 7.8M | -166K | -22M | 6.0M | 20M | 20M |
| Net Margin | 11.2% | 8.6% | -4.4% | -3.5% | 5.0% | 9.0% | 3.9% | 2.7% | -0.1% | -8.3% | 2.2% | 6.7% | 6.7% |
| Non-Recurring | 3.7M | 3.6M | 4.7M | 5.6M | 8.1M | 7.3M | 5.4M | 6.9M | 5.5M | 6.3M | 5.9M | 5.3M | 5.3M |
| Returns on Capital | |||||||||||||
| ROIC | 7.9% | 5.0% | -2.8% | -2.4% | 1.9% | 4.8% | 1.5% | 4.3% | -0.0% | -7.0% | 2.0% | 4.2% | 3.2% |
| ROE | 7.9% | 5.7% | -2.8% | -2.4% | 3.5% | 5.9% | 2.5% | 2.1% | -0.0% | -7.0% | 2.0% | 6.1% | 5.8% |
| ROA | 6.0% | 4.3% | -2.0% | -1.7% | 2.3% | 4.0% | 1.6% | 1.2% | -0.0% | -3.6% | 1.0% | 3.1% | 3.0% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 52M | 39M | 38M | 31M | 49M | 53M | 64M | 72M | 32M | -3.5M | 72M | 50M | 50M |
| Free Cash Flow | 43M | 25M | 29M | 24M | 40M | 45M | 55M | 66M | 23M | -8.9M | 66M | 42M | 42M |
| Owner Earnings | 37M | 20M | 17M | 7.2M | 27M | 29M | 37M | 44M | -6.9M | -50M | 34M | 14M | 14M |
| CapEx | 9.5M | 14M | 9.4M | 7.2M | 8.9M | 8.2M | 8.7M | 5.6M | 8.8M | 5.4M | 5.3M | 8.5M | 8.5M |
| Maint. CapEx | 8.1M | 9.4M | 10M | 11M | 9.8M | 11M | 11M | 10M | 12M | 12M | 12M | 12M | 12M |
| Growth CapEx | 1.4M | 4.4M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 8.1M | 9.4M | 10M | 11M | 9.8M | 11M | 11M | 10M | 12M | 12M | 12M | 12M | 12M |
| CapEx/OCF | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 17.0% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 15M | 53M | 22M | 413K | 4.3M | 25M | 45M | 52M | 59M | 63M | 839K | 10M | 10M |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.8% |
| Stock-Based Comp | 7.4M | 9.3M | 12M | 13M | 13M | 13M | 17M | 18M | 27M | 34M | 26M | 24M | 24M |
| Debt Repayment | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -105M |
| Cash & Equiv. | 45M | 34M | 80M | 65M | 45M | 41M | 55M | 93M | 46M | 71M | 99M | 105M | 105M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Debt/Equity | 0.33 | 0.35 | 0.44 | 0.49 | 0.46 | 0.51 | 0.60 | 0.72 | 0.83 | 0.88 | 0.83 | 0.80 | 0.00 |
| Interest Coverage | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Equity | 334M | 319M | 300M | 315M | 364M | 395M | 388M | 370M | 332M | 284M | 316M | 349M | 349M |
| Total Assets | 443M | 431M | 430M | 471M | 533M | 595M | 623M | 635M | 644M | 572M | 619M | 671M | 671M |
| Total Liabilities | 109M | 112M | 131M | 156M | 169M | 200M | 235M | 265M | 275M | 249M | 262M | 280M | 280M |
| Intangibles | 4.8M | 3.5M | 2.4M | 10M | 9.5M | 14M | 13M | 11M | 20M | 16M | 12M | 7.8M | 7.8M |
| Retained Earnings | 80M | 98M | 90M | 82M | 102M | 124M | 134M | 142M | 141M | 120M | 126M | 146M | 146M |
| Working Capital | 76M | 101M | 182M | 143M | 241M | 96M | 204M | 155M | 170M | 221M | 152M | 122M | 122M |
| Current Assets | 152M | 178M | 267M | 250M | 359M | 222M | 348M | 321M | 334M | 376M | 321M | 317M | 317M |
| Current Liabilities | 76M | 77M | 85M | 107M | 118M | 126M | 144M | 166M | 164M | 155M | 168M | 194M | 194M |
| Per Share Data | |||||||||||||
| EPS | 0.53 | 0.40 | -0.20 | -0.17 | 0.25 | 0.47 | 0.20 | 0.16 | -0.00 | -0.50 | 0.14 | 0.45 | 0.45 |
| Owner EPS | 0.78 | 0.44 | 0.38 | 0.16 | 0.57 | 0.59 | 0.76 | 0.90 | -0.16 | -1.15 | 0.78 | 0.32 | 0.32 |
| Book Value | 7.09 | 6.87 | 6.92 | 7.15 | 7.75 | 8.23 | 8.06 | 7.58 | 7.50 | 6.58 | 7.33 | 7.76 | 7.76 |
| Cash Flow/Share | 1.11 | 0.84 | 0.89 | 0.71 | 1.05 | 1.10 | 1.33 | 1.47 | 0.73 | -0.08 | 1.66 | 1.11 | 0.71 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 47.1M | 46.4M | 43.3M | 44.1M | 46.9M | 48.0M | 48.2M | 48.8M | 44.3M | 43.2M | 43.1M | 45.0M | 45.0M |
| Valuation | |||||||||||||
| P/E Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 62.2 |
| P/FCF | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 30.3 |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 101.3 |
| Price/Book | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 3.6 |
| Price/Sales | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 4.2 |
| FCF Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 3.3% |
| Market Cap | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.3B |
| Avg. Price | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 28.00 |
| Year-End Price | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 28.00 |
RADWARE LTD passes 1 of 9 quality checks, indicating weak fundamentals.
The company's 5-year average ROIC is 0.7% with a gross margin of 45.3%. Total shareholder yield (buybacks) is 0.8%.
RADWARE LTD (RDWR) has a current P/E ratio of 62.2.
RADWARE LTD (RDWR) has a 5-year average return on invested capital (ROIC) of 0.7%. This is below average and may indicate limited pricing power.
RADWARE LTD (RDWR) has a market capitalization of $1.3B. It is classified as a small-cap stock.
RADWARE LTD (RDWR) does not currently pay a regular dividend. However, the company returns capital to shareholders through share buybacks, with a buyback yield of 0.83%.
RADWARE LTD (RDWR) reported annual revenue of $302 million in its most recent fiscal year, based on SEC EDGAR filings.
RADWARE LTD (RDWR) has a net profit margin of 6.7%. This is a modest margin.
RADWARE LTD (RDWR) generated $42 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
RADWARE LTD (RDWR) has a debt-to-equity ratio of 0.80. This indicates moderate leverage.
RADWARE LTD (RDWR) reported earnings per share (EPS) of $0.45 in its most recent fiscal year.
RADWARE LTD (RDWR) has a return on equity (ROE) of 6.1%. This indicates moderate shareholder returns.
RADWARE LTD (RDWR) has a 5-year average gross margin of 45.3%. This indicates decent pricing power.
The Ledger Terminal provides 17 years of financial data for RADWARE LTD (RDWR), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
RADWARE LTD (RDWR) has a book value per share of $7.76, based on its most recent annual SEC filing.