(RDWR) Radware - NASDAQ

Sector: Technology | Industry: Software - Infrastructure | Exchange: NASDAQ (USA) | Market Cap: 1.188m USD | Total Return: 6.1% in 12m

Network Security, Application Delivery, DDoS Protection, Web Firewalls
Total Rating 40
Safety 75
Buy Signal -0.88
Software - Infrastructure
Industry Rotation: -20.6
Market Cap: 1.19B
Avg Turnover: 4.69M
Risk 3d forecast
Volatility37.3%
VaR 5th Pctl6.28%
VaR vs Median2.35%
Reward TTM
Sharpe Ratio0.47
Rel. Str. IBD50
Rel. Str. Peer Group24.2
Character TTM
Beta0.921
Beta Downside0.883
Hurst Exponent0.439
Drawdowns 3y
Max DD29.42%
CAGR/Max DD0.44
CAGR/Mean DD1.05
EPS (Earnings per Share) EPS (Earnings per Share) of RDWR over the last years for every Quarter: "2021-06": 0.19, "2021-09": 0.23, "2021-12": 0.22, "2022-03": 0.19, "2022-06": 0.19, "2022-09": 0.15, "2022-12": 0.17, "2023-03": 0.14, "2023-06": 0.1, "2023-09": 0.07, "2023-12": 0.13, "2024-03": 0.16, "2024-06": 0.2, "2024-09": 0.23, "2024-12": 0.27, "2025-03": 0.27, "2025-06": 0.28, "2025-09": 0.28, "2025-12": 0.32, "2026-03": 0.25,
EPS CAGR: 47.84%
EPS Trend: 92.7%
Last SUE: -2.90
Qual. Beats: -1
Revenue Revenue of RDWR over the last years for every Quarter: 2021-06: 69.667, 2021-09: 73.418, 2021-12: 76.642, 2022-03: 73.708, 2022-06: 75.114, 2022-09: 70.521, 2022-12: 74.083, 2023-03: 69.041, 2023-06: 65.607, 2023-09: 61.612, 2023-12: 65.032, 2024-03: 65.085, 2024-06: 67.276, 2024-09: 69.488, 2024-12: 73.031, 2025-03: 72.079, 2025-06: 74.215, 2025-09: 75.311, 2025-12: 80.245, 2026-03: 79.813,
Rev. CAGR: 5.50%
Rev. Trend: 79.3%
Last SUE: 2.11
Qual. Beats: 2

Warnings

Below Avwap Earnings

Tailwinds

Shakeout

Description: RDWR Radware

Radware Ltd. (RDWR) is an Israel-based provider of cybersecurity and application delivery solutions, specializing in protecting data centers across cloud, on-premises, and software-defined environments. The company operates through two primary segments-Radwares Core Business and The Hawks Business-offering a technical suite that includes DDoS protection, Web Application Firewalls (WAF), bot management, and API security.

The company utilizes an indirect sales model, reaching sectors such as finance, healthcare, and government via value-added resellers, system integrators, and original equipment manufacturers (OEMs). Radware competes in the application delivery controller (ADC) and web application and API protection (WAAP) markets, where business models are increasingly transitioning from hardware-based appliances to recurring, subscription-based cloud security services.

For a deeper dive into these business segments and historical performance, consider reviewing the detailed metrics on ValueRay. This global presence across the US, EMEA, and Asia Pacific positions the firm within a critical infrastructure niche focused on maintaining uptime and data integrity against evolving cyber threats.

Headlines to Watch Out For
  • Subscription revenue growth from cloud application protection services drives valuation multiples
  • Shift to software-as-a-service model accelerates recurring revenue and margin expansion
  • Geopolitical instability in Israel impacts operational costs and regional R&D stability
  • Global enterprise spending on DDoS and bot protection fuels cybersecurity segment growth
  • Expansion of MSSP distribution channels increases market penetration across international regions
Piotroski VR-10 (Strict) 5.5
Net Income: 19.5m TTM > 0 and > 6% of Revenue
FCF/TA: 0.06 > 0.02 and ΔFCF/TA -5.03 > 1.0
NWC/Revenue: 37.72% < 20% (prev 55.56%; Δ -17.84% < -1%)
CFO/TA 0.07 > 3% & CFO 46.8m > Net Income 19.5m
Net Debt (-235.4m) to EBITDA (42.3m): -5.57 < 3
Current Ratio: 1.59 > 1.5 & < 3
Outstanding Shares: last quarter (44.5m) vs 12m ago 0.69% < -2%
Gross Margin: 80.79% > 18% (prev 80.69%; Δ 0.10% > 0.5%)
Asset Turnover: 47.55% > 50% (prev 43.65%; Δ 3.90% > 0%)
Interest Coverage Ratio: error (cannot be calculated; needs correct EBIT TTM and Interest Expense TTM)
Altman Z'' 3.42
A: 0.18 (Total Current Assets 315.1m - Total Current Liabilities 198.3m) / Total Assets 656.5m
B: 0.23 (Retained Earnings 149.7m / Total Assets 656.5m)
C: 0.05 (EBIT TTM 31.2m / Avg Total Assets 651.1m)
D: 1.13 (Book Value of Equity 326.8m / Total Liabilities 288.2m)
Altman-Z'' = 3.42 = A
Beneish M -3.03
DSRI: 0.84 (Receivables 31.9m/34.7m, Revenue 309.6m/281.9m)
GMI: 1.00 (GM 80.69% / 80.79%)
AQI: 1.11 (AQ_t 0.47 / AQ_t-1 0.42)
SGI: 1.10 (Revenue 309.6m / 281.9m)
TATA: -0.04 (NI 19.5m - CFO 46.8m) / TA 656.5m)
Beneish M = -3.03 (Cap -4..+1) = AA
What is the price of RDWR shares?

As of June 15, 2026, the stock is trading at USD 28.23 with a total of 165,397 shares traded.
Over the past week, the price has changed by +1.04%, over one month by +4.75%, over three months by +12.56% and over the past year by +6.13%.

Is RDWR a buy, sell or hold?

Radware has received a consensus analysts rating of 3.75. Therefore, it is recommended to hold RDWR.

  • StrongBuy: 1
  • Buy: 1
  • Hold: 2
  • Sell: 0
  • StrongSell: 0

What are the forecasts/targets for the RDWR price?
Analysts Target Price 31 9.8%
Radware (RDWR) - Fundamental Data Overview as of 14 June 2026
Market Cap USD = 1.19b (1.19b USD * 1.0 USD.USD)
P/E Trailing = 64.1591
P/E Forward = 26.738
P/S = 3.8367
P/B = 3.6286
P/EG = 30.4857
Revenue TTM = 309.6m USD
EBIT TTM = 31.2m USD
EBITDA TTM = 42.3m USD
Long Term Debt = 11.5m USD (estimated: total debt 16.4m - short term 4.82m)
Short Term Debt = 4.82m USD (from shortTermDebt, last quarter)
Debt = 16.4m USD (from shortLongTermDebtTotal, last quarter) (leases 16.4m already included)
Net Debt = -235.4m USD (calculated: Debt 16.4m - CCE 251.8m)
Enterprise Value = 952.5m USD (1.19b + Debt 16.4m - CCE 251.8m)
 Interest Coverage Ratio = unknown (Ebit TTM 31.2m / Interest Expense TTM 0.0)
 EV/FCF = 26.13x (Enterprise Value 952.5m / FCF TTM 36.4m)
FCF Yield = 3.83% (FCF TTM 36.4m / Enterprise Value 952.5m)
FCF Margin = 11.77% (FCF TTM 36.4m / Revenue TTM 309.6m)
Net Margin = 6.28% (Net Income TTM 19.5m / Revenue TTM 309.6m)
Gross Margin = 80.79% ((Revenue TTM 309.6m - Cost of Revenue TTM 59.5m) / Revenue TTM)
Gross Margin QoQ = 81.07% (prev 80.72%)
Tobins Q-Ratio = 1.45 (Enterprise Value 952.5m / Total Assets 656.5m)
Interest Expense / Debt = 0.0% (Interest Expense 0.0 / Debt 16.4m)
Taxrate = 29.27% (9.12m / 31.2m)
NOPAT = 22.0m (EBIT 31.2m * (1 - 29.27%))
Current Ratio = 1.59 (Total Current Assets 315.1m / Total Current Liabilities 198.3m)
Debt / Equity = 0.05 (Debt 16.4m / totalStockholderEquity, last quarter 326.8m)
Debt / EBITDA = -5.57 (Net Debt -235.4m / EBITDA 42.3m)
Debt / FCF = -6.46 (Net Debt -235.4m / FCF TTM 36.4m)
Total Stockholder Equity = 340.8m (last 4 quarters mean from totalStockholderEquity)
RoA = 2.99% (Net Income 19.5m / Total Assets 656.5m)
RoE = 5.71% (Net Income TTM 19.5m / Total Stockholder Equity 340.8m)
RoCE = 8.84% (EBIT 31.2m / Capital Employed (Equity 340.8m + L.T.Debt 11.5m))
RoIC = 4.92% (NOPAT 22.0m / Invested Capital 447.5m)
WACC = 9.09% (E(1.19b)/V(1.20b) * Re(9.22%) + D(16.4m)/V(1.20b) * Rd(0.0%) * (1-Tc(0.29)))
Discount Rate = 9.22% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 64.60 | Cagr: 1.03%
[DCF] Terminal Value 70.35% ; FCFF base≈49.2m ; Y1≈43.1m ; Y5≈34.9m
[DCF] Fair Price = 17.44 (EV 498.3m - Net Debt -235.4m = Equity 733.7m / Shares 42.1m; r=9.09% [WACC]; 5y FCF grow -15.0% → 2.50% )
EPS Correlation: 92.72 | EPS CAGR: 47.84% | SUE: -2.90 | # QB: -1
Revenue Correlation: 79.26 | Revenue CAGR: 5.50% | SUE: 2.11 | # QB: 2
EPS current Quarter (2026-06-30): EPS=0.28 | Chg30d=+7.43% | Revisions=+33% | Analysts=2
EPS next Quarter (2026-09-30): EPS=0.28 | Chg30d=+1.97% | Revisions=-43% | Analysts=2
EPS current Year (2026-12-31): EPS=1.15 | Chg30d=+3.79% | Revisions=+33% | GrowthEPS=+0.0% | GrowthRev=+9.0%
EPS next Year (2027-12-31): EPS=1.32 | Chg30d=+0.97% | Revisions=+0% | GrowthEPS=+14.5% | GrowthRev=+7.5%
[Analyst] Revisions Ratio: -43%