(RDWR) Radware - Overview
Stock: DDoS Protection, WAF, Bot Manager, Application Delivery, API Protection
EPS (Earnings per Share)
Revenue
| Risk 5d forecast | |
|---|---|
| Volatility | 31.9% |
| Relative Tail Risk | -6.50% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.30 |
| Alpha | -3.22 |
| Character TTM | |
|---|---|
| Beta | 0.840 |
| Beta Downside | 0.862 |
| Drawdowns 3y | |
|---|---|
| Max DD | 37.86% |
| CAGR/Max DD | 0.16 |
Description: RDWR Radware January 20, 2026
Radware Ltd. (NASDAQ: RDWR) designs, manufactures, and sells cybersecurity and application-delivery solutions for cloud, on-premises, and software-defined data centers, operating through two business lines: its Core Business and the Hawks’ Business.
The product suite includes cloud-based application protection (WAF, bot manager, API security, Kubernetes WAAP), DDoS mitigation (cloud and on-premise services such as DefencePro X), firewall-as-a-service, and network-performance tools like Alteon, LinkProof NG, and SSL inspection. These solutions are sold worldwide via independent distributors-including value-added resellers, OEMs, and system integrators-to verticals such as healthcare, government, gaming, SaaS, education, banking, and other financial services.
In FY 2023 Radware reported revenue of roughly $300 million, with a year-over-year growth rate of about 12%, reflecting strong demand for DDoS protection amid rising ransomware incidents. The broader cybersecurity market is projected to expand at a CAGR of 10-12% through 2028, driven by increased cloud migration and stricter data-privacy regulations, which are key macro-drivers for Radware’s addressable opportunity.
For a deeper, data-driven look at how Radware’s valuation compares to peers, you might explore the analytics platform ValueRay for additional context.
Piotroski VR‑10 (Strict, 0-10) 5.5
| Net Income: 16.7m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.06 > 0.02 and ΔFCF/TA -3.21 > 1.0 |
| NWC/Revenue: 41.04% < 20% (prev 74.33%; Δ -33.29% < -1%) |
| CFO/TA 0.07 > 3% & CFO 47.0m > Net Income 16.7m |
| Net Debt (-69.5m) to EBITDA (25.0m): -2.78 < 3 |
| Current Ratio: 1.68 > 1.5 & < 3 |
| Outstanding Shares: last quarter (45.0m) vs 12m ago 3.16% < -2% |
| Gross Margin: 80.70% > 18% (prev 0.80%; Δ 7990 % > 0.5%) |
| Asset Turnover: 46.41% > 50% (prev 43.88%; Δ 2.53% > 0%) |
| Interest Coverage Ratio: 56.17 > 6 (EBITDA TTM 25.0m / Interest Expense TTM 236.0k) |
Altman Z'' 2.58
| A: 0.18 (Total Current Assets 299.1m - Total Current Liabilities 178.2m) / Total Assets 661.5m |
| B: 0.21 (Retained Earnings 140.1m / Total Assets 661.5m) |
| C: 0.02 (EBIT TTM 13.3m / Avg Total Assets 634.8m) |
| D: 0.53 (Book Value of Equity 143.4m / Total Liabilities 271.8m) |
| Altman-Z'' Score: 2.58 = A |
Beneish M -2.43
| DSRI: 1.36 (Receivables 30.0m/20.0m, Revenue 294.6m/266.9m) |
| GMI: 1.00 (GM 80.70% / 80.48%) |
| AQI: 1.46 (AQ_t 0.50 / AQ_t-1 0.34) |
| SGI: 1.10 (Revenue 294.6m / 266.9m) |
| TATA: -0.05 (NI 16.7m - CFO 47.0m) / TA 661.5m) |
| Beneish M-Score: -2.43 (Cap -4..+1) = BBB |
What is the price of RDWR shares?
Over the past week, the price has changed by -2.51%, over one month by +1.03%, over three months by +2.82% and over the past year by +8.92%.
Is RDWR a buy, sell or hold?
- StrongBuy: 1
- Buy: 1
- Hold: 2
- Sell: 0
- StrongSell: 0
What are the forecasts/targets for the RDWR price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 30.7 | 25.5% |
| Analysts Target Price | 30.7 | 25.5% |
| ValueRay Target Price | 24.9 | 2% |
RDWR Fundamental Data Overview February 03, 2026
P/E Forward = 26.738
P/S = 3.5601
P/B = 3.0143
P/EG = 30.4857
Revenue TTM = 294.6m USD
EBIT TTM = 13.3m USD
EBITDA TTM = 25.0m USD
Long Term Debt = 17.8m USD (from capitalLeaseObligations, last quarter)
Short Term Debt = 5.16m USD (from shortTermDebt, last quarter)
Debt = 17.8m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -69.5m USD (from netDebt column, last quarter)
Enterprise Value = 825.6m USD (1.05b + Debt 17.8m - CCE 241.1m)
Interest Coverage Ratio = 56.17 (Ebit TTM 13.3m / Interest Expense TTM 236.0k)
EV/FCF = 20.62x (Enterprise Value 825.6m / FCF TTM 40.0m)
FCF Yield = 4.85% (FCF TTM 40.0m / Enterprise Value 825.6m)
FCF Margin = 13.59% (FCF TTM 40.0m / Revenue TTM 294.6m)
Net Margin = 5.66% (Net Income TTM 16.7m / Revenue TTM 294.6m)
Gross Margin = 80.70% ((Revenue TTM 294.6m - Cost of Revenue TTM 56.9m) / Revenue TTM)
Gross Margin QoQ = 80.66% (prev 80.71%)
Tobins Q-Ratio = 1.25 (Enterprise Value 825.6m / Total Assets 661.5m)
Interest Expense / Debt = 1.33% (Interest Expense 236.0k / Debt 17.8m)
Taxrate = 28.47% (2.25m / 7.90m)
NOPAT = 9.48m (EBIT 13.3m * (1 - 28.47%))
Current Ratio = 1.68 (Total Current Assets 299.1m / Total Current Liabilities 178.2m)
Debt / Equity = 0.05 (Debt 17.8m / totalStockholderEquity, last quarter 348.4m)
Debt / EBITDA = -2.78 (Net Debt -69.5m / EBITDA 25.0m)
Debt / FCF = -1.74 (Net Debt -69.5m / FCF TTM 40.0m)
Total Stockholder Equity = 332.1m (last 4 quarters mean from totalStockholderEquity)
RoA = 2.63% (Net Income 16.7m / Total Assets 661.5m)
RoE = 5.02% (Net Income TTM 16.7m / Total Stockholder Equity 332.1m)
RoCE = 3.79% (EBIT 13.3m / Capital Employed (Equity 332.1m + L.T.Debt 17.8m))
RoIC = 2.86% (NOPAT 9.48m / Invested Capital 332.1m)
WACC = 8.88% (E(1.05b)/V(1.07b) * Re(9.01%) + D(17.8m)/V(1.07b) * Rd(1.33%) * (1-Tc(0.28)))
Discount Rate = 9.01% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 3.69%
[DCF Debug] Terminal Value 66.35% ; FCFF base≈46.6m ; Y1≈30.6m ; Y5≈13.9m
Fair Price DCF = 7.05 (EV 236.6m - Net Debt -69.5m = Equity 306.1m / Shares 43.4m; r=8.88% [WACC]; 5y FCF grow -40.0% → 2.90% )
[DCF Warning] FCF declining rapidly (-40.0%), DCF may be unreliable
EPS Correlation: 23.68 | EPS CAGR: -48.29% | SUE: -4.0 | # QB: 0
Revenue Correlation: -9.15 | Revenue CAGR: -0.47% | SUE: 0.49 | # QB: 0
EPS next Quarter (2026-03-31): EPS=0.27 | Chg30d=+0.000 | Revisions Net=+1 | Analysts=3
EPS next Year (2026-12-31): EPS=1.18 | Chg30d=-0.005 | Revisions Net=+3 | Growth EPS=+3.9% | Growth Revenue=+7.3%