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CRNT · Nasdaq · United States · Radio & Tv Broadcasting & Communications Equipment
In shortCERAGON NETWORKS LTD is loss-making, generates cash and holds more cash than debt, with revenue shrinking (−14.1% last year).
Financial health
Mixed
Built from five areas over the last five annual reports. Tap an area to see the figures behind it.
| Operating marginShare of each sale left after running the business, before interest and tax. | 2.1% | 24/100 |
|---|---|---|
| Net marginShare of each sale left as profit after every cost, interest and tax. | -0.6% | 18/100 |
| Return on equityProfit earned on the money shareholders put in. Above 15% is strong. | -1.2% | 0/100 |
| Return on invested capitalProfit earned on all the capital used (equity and debt). Above 10% usually means a real competitive edge. | 3.0% | 20/100 |
Weight in the score: 25%
| Current ratioShort-term assets divided by short-term debts. Below 1 can mean tight cash. | 1.87× | 89/100 |
|---|---|---|
| Debt / equityDebt compared with the shareholders' stake. Above 2 is heavily indebted. | 0.11× | 100/100 |
| Net debt / EBITDAYears of operating profit needed to repay net debt. Below 2 is comfortable. | Net cash | 100/100 |
| Interest coverageHow many times operating profit covers interest. Below 2 is risky. | 1.44× | 0/100 |
| Altman Z''Bankruptcy-risk model. Above 2.6 safe, below 1.1 distress. | 0.98 | 0/100 |
Weight in the score: 25%
| Free cash flow marginCash left from each sale after investments. The money that can pay dividends or reduce debt. | 5.3% | 41/100 |
|---|---|---|
| Free cash flow / net incomeHow much accounting profit turns into real cash. Near 1 or above is healthy. | – | n/a |
| Years with positive free cash flow (last 5) | 3 of 5 | 50/100 |
Weight in the score: 20%
| Profitable years (last 5) | 2 of 5 | 40/100 |
|---|---|---|
| Years of revenue decline (last 5) | 1 of 5 | 67/100 |
| Revenue growth volatility | 12.6% | 64/100 |
| Operating margin volatility | 5.1% | 63/100 |
Weight in the score: 20%
| Revenue growth, 3-year average | 4.7% | 43/100 |
|---|---|---|
| EPS growth, 3-year average | – | n/a |
Weight in the score: 10%
Fiscal year 2025 · change vs prior year
Annual figures as reported. Hover a bar or point for the exact value.
5 older years available with the 10-year history. Essential plan, from €8.25/month →
The last 5 fiscal years from the company's annual reports.
USD millions; negative values in parentheses.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | 291 | 295 | 347 | 394 | 339 |
| Cost of revenue | 202 | 202 | 227 | 257 | 224 |
| Gross profit | 88 | 93 | 120 | 137 | 115 |
| Research & development | 29 | 30 | 32 | 35 | 30 |
| Operating income | 4.8 | (11) | 21 | 39 | 7.2 |
| Interest expense | 4.7 | 5 | 7.5 | 6 | 5 |
| Pre-tax income | (3.8) | (17) | 13 | 27 | 0.7 |
| Income tax | 11 | 2.4 | 6.5 | 3.2 | 2.8 |
| Net income | (15) | (20) | 6.2 | 24 | (2.1) |
| Diluted EPS | −$0.18 | −$0.23 | $0.07 | $0.27 | −$0.02 |
| Diluted shares (millions) | 83 | 84 | 85 | 88 | 90 |
5 older years available with the 10-year history. Essential plan, from €8.25/month →
0.98 Distress zone
Estimates bankruptcy risk from working capital, retained earnings, operating profit and equity. Above 2.6 is considered safe, below 1.1 signals distress.
4/9
Nine yes-or-no tests on profitability, debt, liquidity and efficiency versus the prior year. 7 to 9 is strong, 0 to 3 is weak.
All figures: SEC EDGAR. Ratios and scores are computed by Scorvest (see how it works). Information only, not investment advice. How it works
Latest annual report: Dec 31, 2025 · Data updated Apr 15, 2026