RDWR Stock Analysis: Radware | NASDAQ
Software - Infrastructure | NASDAQ, USA | Market Cap: 1.204m USD | 12M Return: 13.1% | IL0010834765 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 5.54M
EPS Trend: 91.6%
Qual. Beats: -2
Rev. Trend: 93.4%
Qual. Beats: 3
Warnings
Tailwinds
Seasonality 11.6 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Radware Ltd. (NASDAQ: RDWR) is an Israel-based provider of cyber security and application delivery solutions, founded in 1996 and headquartered in Tel Aviv. The company serves cloud, on-premises, and software-defined data center environments through two reporting segments: its core business and the Hawks business.
Its product portfolio spans cloud application protection, web application firewalls (WAF), bot management, API protection, web and network DDoS mitigation, Kubernetes WAAP, Alteon application delivery controllers, linkproof NG, SSL inspection, firewall-as-a-service, and an AI SOC Xpert offering. These solutions address application-layer and network-layer threats, reflecting the broader industry shift toward integrated, cloud-native security and ADC platforms that combine traditional on-premises infrastructure with subscription-based services.
Radware sells primarily through indirect channels, including value-added resellers, original equipment manufacturers, and system integrators, targeting end markets such as healthcare, government, online commerce, SaaS providers, education, open banking, MSSPs, and financial services. Geographically, it operates across the United States, Europe, the Middle East, Africa, and the Asia Pacific, giving it broad global exposure to enterprise and service-provider cybersecurity spending.
- Cloud security ARR growth accelerates subscription revenue mix shift
- Geopolitical tensions in Israel threaten operations and enterprise spending
- Competition from Cloudflare and Akamai pressures WAF and DDoS pricing
| Net Income: 16.9m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.05 > 0.02 and ΔFCF/TA -3.72 > 1.0 |
| NWC/Revenue: 39.06% < 20% (prev 48.10%; Δ -9.04% < -1%) |
| CFO/TA 0.07 > 3% & CFO 43.3m > Net Income 16.9m |
| Net Debt (-232.4m) to EBITDA (38.3m): -6.06 < 3 |
| Current Ratio: 1.63 > 1.5 & < 3 |
| Outstanding Shares: last quarter (43.7m) vs 12m ago -1.85% < -2% |
| Gross Margin: 80.81% > 18% (prev 80.72%; Δ 0.09% > 0.5%) |
| Asset Turnover: 48.39% > 50% (prev 43.86%; Δ 4.53% > 0%) |
| Interest Coverage Ratio: error (cannot be calculated; needs correct EBIT TTM and Interest Expense TTM) |
| A: 0.19 (Total Current Assets 320.1m - Total Current Liabilities 196.1m) / Total Assets 654.4m |
| B: 0.23 (Retained Earnings 151.4m / Total Assets 654.4m) |
| C: 0.04 (EBIT TTM 27.2m / Avg Total Assets 656.5m) |
| D: 1.08 (Book Value of Equity 317.7m / Total Liabilities 295.3m) |
| Altman-Z'' = 3.41 = A |
| DSRI: 2.10 (Receivables 52.9m/22.9m, Revenue 317.6m/288.8m) |
| GMI: 1.00 (GM 80.72% / 80.81%) |
| AQI: 1.01 (AQ_t 0.46 / AQ_t-1 0.46) |
| SGI: 1.10 (Revenue 317.6m / 288.8m) |
| TATA: -0.04 (NI 16.9m - CFO 43.3m) / TA 654.4m) |
| Beneish M = -2.05 (Cap -4..+1) = BB |
As of September 03, 2026, the stock is trading at USD 27.80 with a total of 167,664 shares traded. Over the past week, the price has changed by -2.18%, over one month by +1.24%, over three months by -11.89% and over the past year by +13.05%.
Current recommended Stop Loss: 25.50 (which is 8.3% or 2 ATR below the current price).
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
| Analysts Target Price | 30.5 | 9.7% |
P/E Trailing = 75.2632
P/E Forward = 26.738
P/S = 3.787
P/B = 3.9174
P/EG = 30.4857
Revenue TTM = 317.6m USD
EBIT TTM = 27.2m USD
EBITDA TTM = 38.3m USD
Long Term Debt = 11.2m USD (estimated: total debt 16.1m - short term 4.86m)
Short Term Debt = 4.86m USD (from shortTermDebt, last quarter)
Debt = 16.1m USD (from shortLongTermDebtTotal, last quarter) (leases 16.1m already included)
Net Debt = -232.4m USD (calculated: Debt 16.1m - CCE 248.4m)
Enterprise Value = 971.2m USD (1.20b + Debt 16.1m - CCE 248.4m)
Interest Coverage Ratio = unknown (Ebit TTM 27.2m / Interest Expense TTM 0.0)
EV/FCF = 28.93x (Enterprise Value 971.2m / FCF TTM 33.6m)
FCF Yield = 3.46% (FCF TTM 33.6m / Enterprise Value 971.2m)
FCF Margin = 10.57% (FCF TTM 33.6m / Revenue TTM 317.6m)
Net Margin = 5.34% (Net Income TTM 16.9m / Revenue TTM 317.6m)
Gross Margin = 80.81% ((Revenue TTM 317.6m - Cost of Revenue TTM 61.0m) / Revenue TTM)
Gross Margin QoQ = 80.77% (prev 81.07%)
Tobins Q-Ratio = 1.48 (Enterprise Value 971.2m / Total Assets 654.4m)
Interest Expense / Debt = 0.0% (Interest Expense 0.0 / Debt 16.1m)
Taxrate = 29.35% (9.01m / 30.7m)
NOPAT = 19.2m (EBIT 27.2m * (1 - 29.35%))
Current Ratio = 1.63 (Total Current Assets 320.1m / Total Current Liabilities 196.1m)
Debt / Equity = 0.05 (Debt 16.1m / totalStockholderEquity, last quarter 317.7m)
Debt / EBITDA = -6.06 (Net Debt -232.4m / EBITDA 38.3m)
Debt / FCF = -6.92 (Net Debt -232.4m / FCF TTM 33.6m)
Total Stockholder Equity = 335.6m (last 4 quarters mean from totalStockholderEquity)
RoA = 2.58% (Net Income 16.9m / Total Assets 654.4m)
RoE = 5.05% (Net Income TTM 16.9m / Total Stockholder Equity 335.6m)
RoCE = 7.83% (EBIT 27.2m / Capital Employed (Equity 335.6m + L.T.Debt 11.2m))
RoIC = 4.29% (NOPAT 19.2m / Invested Capital 447.3m)
WACC = 10.49% (E(1.20b)/V(1.22b) * Re(10.63%) + D(16.1m)/V(1.22b) * Rd(0.0%) * (1-Tc(0.29)))
Discount Rate = 10.63% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 71.74 | Cagr: 2.04%
[DCF] Terminal Value 65.55% ; FCFF base≈43.5m ; Y1≈38.1m ; Y5≈30.8m
[DCF] Fair Price = 14.22 (EV 366.0m - Net Debt -232.4m = Equity 598.4m / Shares 42.1m; r=10.49% [WACC]; 5y FCF grow -15.0% → 2.50% )
EPS Correlation: 91.60 | EPS CAGR: 46.66% | SUE: -4.0 | # QB: -2
Revenue Correlation: 93.37 | Revenue CAGR: 7.73% | SUE: 1.95 | # QB: 3
EPS current Quarter (2026-09-30): EPS=0.29 | Chg30d=+4.75% | Revisions=+40% | Analysts=3
EPS current Year (2026-12-31): EPS=1.22 | Chg30d=+4.29% | Revisions=+40% | GrowthEPS=+5.8% | GrowthRev=+10.1%
EPS next Year (2027-12-31): EPS=1.36 | Chg30d=+4.87% | Revisions=+40% | GrowthEPS=+12.0% | GrowthRev=+7.9%
[Analyst] Revisions Ratio: +67% (up=6, down=0)