(RDWR) Radware - Overview

Sector: Technology | Industry: Software - Infrastructure | Exchange: NASDAQ (USA) | Market Cap: 1.181m USD | Total Return: 37.3% in 12m

Cybersecurity, Application Delivery, Cloud Services, Network Security
Total Rating 45
Safety 71
Buy Signal 0.04
Software - Infrastructure
Industry Rotation: +5.6
Market Cap: 1.18B
Avg Turnover: 6.26M USD
ATR: 3.77%
Peers RS (IBD): 30.6
Risk 5d forecast
Volatility33.8%
Rel. Tail Risk-6.52%
Reward TTM
Sharpe Ratio0.64
Alpha4.39
Character TTM
Beta1.197
Beta Downside1.026
Drawdowns 3y
Max DD37.86%
CAGR/Max DD0.18
EPS (Earnings per Share) EPS (Earnings per Share) of RDWR over the last years for every Quarter: "2021-03": 0.17, "2021-06": 0.19, "2021-09": 0.23, "2021-12": 0.22, "2022-03": 0.19, "2022-06": 0.18, "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,
EPS CAGR: -47.60%
EPS Trend: 35.5%
Last SUE: -4.00
Qual. Beats: 0
Revenue Revenue of RDWR over the last years for every Quarter: 2021-03: 66.769, 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: null,
Rev. CAGR: 2.29%
Rev. Trend: 25.5%
Last SUE: 3.77
Qual. Beats: 1
Warnings

No concerns identified

Tailwinds

No distinct edge detected

Description: RDWR Radware

Radware Ltd. (RDWR) develops and markets cybersecurity and application delivery solutions. These solutions cater to cloud, on-premises, and software-defined data centers.

The company operates in two segments: Core Business and Hawks Business. Its product offerings include cloud application protection (e.g., WAF, bot manager, API protection) and cloud DDoS protection services. Cybersecurity is a high-growth sector due to increasing digital transformation and evolving threat landscapes.

Radware serves diverse sectors including healthcare, government, and finance. It distributes products through independent channels like value-added resellers and system integrators. This business model is common in the enterprise software space, leveraging partners for broader market reach.

Radware operates globally, with a presence in the United States, Asia Pacific, Europe, and other regions. To delve deeper into Radwares financial performance and market position, consider exploring its profile on ValueRay.

Headlines to Watch Out For
  • Cloud security subscription growth boosts recurring revenue
  • Increased cyberattacks drive demand for protection solutions
  • Global economic slowdown impacts enterprise IT spending
  • Competition intensifies from larger cybersecurity vendors
Piotroski VR‑10 (Strict) 5.5
Net Income: 20.3m TTM > 0 and > 6% of Revenue
FCF/TA: 0.06 > 0.02 and ΔFCF/TA -4.35 > 1.0
NWC/Revenue: 40.69% < 20% (prev 55.44%; Δ -14.76% < -1%)
CFO/TA 0.08 > 3% & CFO 51.6m > Net Income 20.3m
Net Debt (-88.1m) to EBITDA (27.9m): -3.16 < 3
Current Ratio: 1.63 > 1.5 & < 3
Outstanding Shares: last quarter (45.1m) vs 12m ago 3.21% < -2%
Gross Margin: 80.67% > 18% (prev 0.81%; Δ 7.99k% > 0.5%)
Asset Turnover: 46.80% > 50% (prev 44.43%; Δ 2.37% > 0%)
Interest Coverage Ratio: -1.24 > 6 (EBITDA TTM 27.9m / Interest Expense TTM -13.1m)
Altman Z'' 2.63
A: 0.18 (Total Current Assets 316.5m - Total Current Liabilities 193.7m) / Total Assets 671.2m
B: 0.22 (Retained Earnings 146.1m / Total Assets 671.2m)
C: 0.03 (EBIT TTM 16.2m / Avg Total Assets 644.9m)
D: 0.53 (Book Value of Equity 148.3m / Total Liabilities 280.5m)
Altman-Z'' Score: 2.63 = A
Beneish M -2.19
DSRI: 1.90 (Receivables 35.0m/16.8m, Revenue 301.9m/274.9m)
GMI: 1.00 (GM 80.67% / 80.63%)
AQI: 1.13 (AQ_t 0.48 / AQ_t-1 0.43)
SGI: 1.10 (Revenue 301.9m / 274.9m)
TATA: -0.05 (NI 20.3m - CFO 51.6m) / TA 671.2m)
Beneish M-Score: -2.19 (Cap -4..+1) = BB
What is the price of RDWR shares? As of April 06, 2026, the stock is trading at USD 27.20 with a total of 231,360 shares traded.
Over the past week, the price has changed by +6.50%, over one month by +9.19%, over three months by +12.49% and over the past year by +37.30%.
Is RDWR a buy, sell or hold? Radware has received a consensus analysts rating of 3.75. Therefor, it is recommend to hold RDWR.
  • StrongBuy: 1
  • Buy: 1
  • Hold: 2
  • Sell: 0
  • StrongSell: 0
What are the forecasts/targets for the RDWR price?
Wallstreet Target Price 32.3 18.9%
Analysts Target Price 32.3 18.9%
RDWR Fundamental Data Overview as of 06 April 2026
P/E Trailing = 60.4444
P/E Forward = 24.8756
P/S = 3.9139
P/B = 3.3841
P/EG = 22.791
Revenue TTM = 301.9m USD
EBIT TTM = 16.2m USD
EBITDA TTM = 27.9m USD
Long Term Debt = 17.0m USD (from capitalLeaseObligations, last quarter)
Short Term Debt = 5.05m USD (from shortTermDebt, last quarter)
Debt = 17.0m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -88.1m USD (from netDebt column, last quarter)
Enterprise Value = 941.2m USD (1.18b + Debt 17.0m - CCE 257.3m)
Interest Coverage Ratio = -1.24 (Ebit TTM 16.2m / Interest Expense TTM -13.1m)
EV/FCF = 21.99x (Enterprise Value 941.2m / FCF TTM 42.8m)
FCF Yield = 4.55% (FCF TTM 42.8m / Enterprise Value 941.2m)
FCF Margin = 14.18% (FCF TTM 42.8m / Revenue TTM 301.9m)
Net Margin = 6.71% (Net Income TTM 20.3m / Revenue TTM 301.9m)
Gross Margin = 80.67% ((Revenue TTM 301.9m - Cost of Revenue TTM 58.3m) / Revenue TTM)
Gross Margin QoQ = 80.72% (prev 80.66%)
Tobins Q-Ratio = 1.40 (Enterprise Value 941.2m / Total Assets 671.2m)
Interest Expense / Debt = 0.51% (Interest Expense 86.0k / Debt 17.0m)
Taxrate = 28.97% (2.46m / 8.51m)
NOPAT = 11.5m (EBIT 16.2m * (1 - 28.97%))
Current Ratio = 1.63 (Total Current Assets 316.5m / Total Current Liabilities 193.7m)
Debt / Equity = 0.05 (Debt 17.0m / totalStockholderEquity, last quarter 349.4m)
Debt / EBITDA = -3.16 (Net Debt -88.1m / EBITDA 27.9m)
Debt / FCF = -2.06 (Net Debt -88.1m / FCF TTM 42.8m)
Total Stockholder Equity = 340.4m (last 4 quarters mean from totalStockholderEquity)
RoA = 3.14% (Net Income 20.3m / Total Assets 671.2m)
RoE = 5.95% (Net Income TTM 20.3m / Total Stockholder Equity 340.4m)
RoCE = 4.54% (EBIT 16.2m / Capital Employed (Equity 340.4m + L.T.Debt 17.0m))
RoIC = 3.38% (NOPAT 11.5m / Invested Capital 340.4m)
WACC = 10.05% (E(1.18b)/V(1.20b) * Re(10.19%) + D(17.0m)/V(1.20b) * Rd(0.51%) * (1-Tc(0.29)))
Discount Rate = 10.19% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 3.90%
[DCF] Terminal Value 64.55% ; FCFF base≈52.2m ; Y1≈37.9m ; Y5≈21.3m
[DCF] Fair Price = 8.89 (EV 298.0m - Net Debt -88.1m = Equity 386.1m / Shares 43.4m; r=10.05% [WACC]; 5y FCF grow -32.23% → 3.0% )
EPS Correlation: 35.52 | EPS CAGR: -47.60% | SUE: -4.0 | # QB: 0
Revenue Correlation: 25.54 | Revenue CAGR: 2.29% | SUE: 3.77 | # QB: 1
EPS next Quarter (2026-06-30): EPS=0.27 | Chg7d=-0.023 | Chg30d=-0.023 | Revisions Net=-3 | Analysts=3
EPS current Year (2026-12-31): EPS=1.11 | Chg7d=-0.074 | Chg30d=-0.079 | Revisions Net=-3 | Growth EPS=-3.6% | Growth Revenue=+8.7%
EPS next Year (2027-12-31): EPS=1.30 | Chg7d=+1.304 | Chg30d=+1.304 | Revisions Net=+0 | Growth EPS=+17.7% | Growth Revenue=+7.5%
[Analyst] Revisions Ratio: -1.00 (0 Up / 3 Down within 30d for Next Quarter)
[Growth] Implied Growth Rate = 8.5% (Discount Rate 10.2% - Earnings Yield 1.7%)
[Growth] Growth Spread = +0.2% (Analyst 8.7% - Implied 8.5%)
External Resources
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