RDWR Stock Analysis: Radware | NASDAQ
Software - Infrastructure | NASDAQ, USA | Market Cap: 1.542m USD | 12M Return: 36.1% | IL0010834765 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 10.8M
EPS Trend: 77.3%
Qual. Beats: -3
Rev. Trend: 98.7%
Qual. Beats: 4
Warnings
Tailwinds
Seasonality 11.7 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 Israeli-headquartered technology company founded in 1996 that develops, manufactures, and markets cyber security and application delivery solutions for cloud, on-premises, and software-defined data center environments. The company operates through two segments-Radwares Core Business and The Hawks Business-and offers a broad product portfolio spanning cloud application protection, web application firewalls (WAF), bot management, API protection, DDoS mitigation, Kubernetes WAAP, and SSL inspection, alongside its Alteon application delivery platform. Radware sells primarily through a channel-based model using independent distributors such as value-added resellers, OEMs, and system integrators, serving end markets that include healthcare, government, SaaS, education, open banking, MSSPs, and financial services across the Americas, EMEA, and Asia Pacific.
As a small-cap player in the Communications Equipment sub-industry, Radware competes in the high-demand cybersecurity and application delivery market, where recurring revenue from cloud-based security services has become a standard go-to-market approach for vendors. The company was taken public in 1999 and is headquartered in Tel Aviv-Yafo, Israel, a region recognized as a hub for cybersecurity innovation.
- Cloud security demand drives recurring revenue growth
- Israel geopolitical risk disrupts operations and customer trust
- Competition from Cloudflare and Akamai pressures pricing
| Net Income: 13.9m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.07 > 0.02 and ΔFCF/TA 1.37 > 1.0 |
| NWC/Revenue: 42.41% < 20% (prev 41.04%; Δ 1.37% < -1%) |
| CFO/TA 0.09 > 3% & CFO 59.2m > Net Income 13.9m |
| Net Debt (-233.4m) to EBITDA (32.7m): -7.13 < 3 |
| Current Ratio: 1.70 > 1.5 & < 3 |
| Outstanding Shares: last quarter (43.5m) vs 12m ago -3.13% < -2% |
| Gross Margin: 80.68% > 18% (prev 80.70%; Δ -0.02% > 0.5%) |
| Asset Turnover: 49.65% > 50% (prev 44.54%; Δ 5.11% > 0%) |
| Interest Coverage Ratio: error (cannot be calculated; needs correct EBIT TTM and Interest Expense TTM) |
| A: 0.21 (Total Current Assets 335.2m - Total Current Liabilities 196.7m) / Total Assets 654.6m |
| B: 0.24 (Retained Earnings 154.0m / Total Assets 654.6m) |
| C: 0.03 (EBIT TTM 21.4m / Avg Total Assets 658.0m) |
| D: 1.05 (Book Value of Equity 314.5m / Total Liabilities 298.5m) |
| Altman-Z'' = 3.48 = A |
| DSRI: 1.22 (Receivables 40.7m/30.0m, Revenue 326.7m/294.6m) |
| GMI: 1.00 (GM 80.70% / 80.68%) |
| AQI: 0.88 (AQ_t 0.44 / AQ_t-1 0.50) |
| SGI: 1.11 (Revenue 326.7m / 294.6m) |
| TATA: -0.07 (NI 13.9m - CFO 59.2m) / TA 654.6m) |
| Beneish M = -2.84 (Cap -4..+1) = A |
As of November 02, 2026, the stock is trading at USD 34.58 with a total of 982,335 shares traded. Over the past week, the price has changed by +11.30%, over one month by +18.22%, over three months by +38.71% and over the past year by +36.14%.
Current recommended Stop Loss: 29.90 (which is 13.5% or 2.6 ATR below the current price).
Radware has received a consensus analysts rating of 3.67. Therefore, it is recommended to hold RDWR.
- StrongBuy: 1
- Buy: 0
- Hold: 2
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 37 | 7% |
P/E Trailing = 77.9574
P/E Forward = 26.738
P/S = 5.2257
P/B = 4.9375
P/EG = 30.4857
Revenue TTM = 326.7m USD
EBIT TTM = 21.4m USD
EBITDA TTM = 32.7m USD
Long Term Debt = 10.1m USD (estimated: total debt 14.9m - short term 4.75m)
Short Term Debt = 4.75m USD (from shortTermDebt, last quarter)
Debt = 31.0m USD (from shortLongTermDebtTotal, last quarter) + Leases 16.1m
Net Debt = -233.4m USD (calculated: Debt 31.0m - CCE 264.4m)
Enterprise Value = 1.31b USD (1.54b + Debt 31.0m - CCE 264.4m)
Interest Coverage Ratio = unknown (Ebit TTM 21.4m / Interest Expense TTM 0.0)
EV/FCF = 26.92x (Enterprise Value 1.31b / FCF TTM 48.6m)
FCF Yield = 3.72% (FCF TTM 48.6m / Enterprise Value 1.31b)
FCF Margin = 14.88% (FCF TTM 48.6m / Revenue TTM 326.7m)
Net Margin = 4.27% (Net Income TTM 13.9m / Revenue TTM 326.7m)
Gross Margin = 80.68% ((Revenue TTM 326.7m - Cost of Revenue TTM 63.1m) / Revenue TTM)
Gross Margin QoQ = 80.19% (prev 80.77%)
Tobins Q-Ratio = 2.00 (Enterprise Value 1.31b / Total Assets 654.6m)
Interest Expense / Debt = 0.0% (Interest Expense 0.0 / Debt 31.0m)
Taxrate = 30.80% (9.15m / 29.7m)
NOPAT = 14.8m (EBIT 21.4m * (1 - 30.80%))
Current Ratio = 1.70 (Total Current Assets 335.2m / Total Current Liabilities 196.7m)
Debt / Equity = 0.10 (Debt 31.0m / totalStockholderEquity, last quarter 314.5m)
Debt / EBITDA = -7.13 (Net Debt -233.4m / EBITDA 32.7m)
Debt / FCF = -4.80 (Net Debt -233.4m / FCF TTM 48.6m)
Total Stockholder Equity = 327.1m (last 4 quarters mean from totalStockholderEquity)
RoA = 2.12% (Net Income 13.9m / Total Assets 654.6m)
RoE = 4.26% (Net Income TTM 13.9m / Total Stockholder Equity 327.1m)
RoCE = 6.35% (EBIT 21.4m / Capital Employed (Equity 327.1m + L.T.Debt 10.1m))
RoIC = 3.32% (NOPAT 14.8m / Invested Capital 446.3m)
WACC = 9.88% (E(1.54b)/V(1.57b) * Re(10.08%) + D(31.0m)/V(1.57b) * Rd(0.0%) * (1-Tc(0.31)))
Discount Rate = 10.08% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 31.97 | Cagr: 0.41%
[DCF] Terminal Value 73.18% ; FCFF base≈45.2m ; Y1≈51.8m ; Y5≈76.2m
[DCF] Fair Price = 27.00 (EV 903.0m - Net Debt -233.4m = Equity 1.14b / Shares 42.1m; r=9.88% [WACC]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: 77.33 | EPS CAGR: 34.47% | SUE: -3.35 | # QB: -3
Revenue Correlation: 98.73 | Revenue CAGR: 9.44% | SUE: 2.71 | # QB: 4
EPS current Quarter (2027-03-31): EPS=0.32 | Chg30d=+1.03% | Revisions=+25% | Analysts=3
EPS current Year (2026-12-31): EPS=1.26 | Chg30d=+3.56% | Revisions=+40% | GrowthEPS=+9.6% | GrowthRev=+11.1%
EPS next Year (2027-12-31): EPS=1.40 | Chg30d=+2.45% | Revisions=+40% | GrowthEPS=+10.8% | GrowthRev=+9.0%
[Analyst] Revisions Ratio: +62% (up=5, down=0)