Radware Dossier
Financial Snapshot
Revenue, profitability, returns, debt, and capital allocation
Revenue $301.9M+9.8% YoYTTM through 31 Dec 2025
Net Income $20.3M+235.5% YoYTTM through 31 Dec 2025
Free Cash Flow $41.6MTTM through 31 Dec 2025
Margins
| Current | |
|---|---|
| Gross Margin | 80.7% |
| EBITDA Margin | 7.7% |
| Operating Margin | 3.8% |
| Net Margin | 6.7% |
Returns
5.2%ROE
3.0%ROA
8.3%ROIC
Balance Sheet Health
Debt / Equity0.00x
Current Ratio1.63x
Net Debt-$241Mnet cash position
Cash & Equivalents$105.1M
Quality Metrics
Altman Z-Score3.35
Piotroski F-Score6 / 9
FCF Margin13.8%
Rule of 4023.9
Earnings-Beat Rate75.0%
Multi-Year Trend
RevenueFY2025: $301.9M
Diluted EPS$0.45TTMFY2025: $0.45
Dividend
No dividend
Capital Allocation
R&D Spend$79M
Capex Intensity2.8%
Segment Performance
| Segment | Revenue | YoY | Outlook |
|---|---|---|---|
| Products | $189.6M | +22.0% | View detailsExpected to remain a solid foundation, though the strategic focus continues to shift toward cloud-delivered subscriptions. |
| Services | $112.3M | -6.0% | View detailsExpected to recover and expand as high-value recurring cloud offerings gain scale. |
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