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RDWR · Nasdaq · United States · Services-Business Services, Nec
In shortRADWARE LTD is profitable.
Financial health
Solid
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. | 3.8% | 29/100 |
|---|---|---|
| Net marginShare of each sale left as profit after every cost, interest and tax. | 6.7% | 47/100 |
| Return on equityProfit earned on the money shareholders put in. Above 15% is strong. | 6.1% | 30/100 |
| Return on invested capitalProfit earned on all the capital used (equity and debt). Above 10% usually means a real competitive edge. | – | n/a |
Weight in the score: 25%
| Current ratioShort-term assets divided by short-term debts. Below 1 can mean tight cash. | 1.63× | 69/100 |
|---|---|---|
| Debt / equityDebt compared with the shareholders' stake. Above 2 is heavily indebted. | – | n/a |
| Net debt / EBITDAYears of operating profit needed to repay net debt. Below 2 is comfortable. | – | n/a |
| Interest coverageHow many times operating profit covers interest. Below 2 is risky. | – | n/a |
| Altman Z''Bankruptcy-risk model. Above 2.6 safe, below 1.1 distress. | 3.16 | 53/100 |
Weight in the score: 25%
| Free cash flow marginCash left from each sale after investments. The money that can pay dividends or reduce debt. | 13.8% | 75/100 |
|---|---|---|
| Free cash flow / net incomeHow much accounting profit turns into real cash. Near 1 or above is healthy. | 2.05× | 100/100 |
| Years with positive free cash flow (last 5) | 4 of 5 | 75/100 |
Weight in the score: 20%
| Profitable years (last 5) | 3 of 5 | 60/100 |
|---|---|---|
| Years of revenue decline (last 5) | 1 of 5 | 67/100 |
| Revenue growth volatility | 9.7% | 75/100 |
| Operating margin volatility | 7.1% | 45/100 |
Weight in the score: 20%
| Revenue growth, 3-year average | 0.9% | 22/100 |
|---|---|---|
| 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 | 286 | 293 | 261 | 275 | 302 |
| Cost of revenue | 52 | 54 | 52 | 53 | 58 |
| Gross profit | 234 | 240 | 210 | 222 | 244 |
| Research & development | 74 | 87 | 83 | 75 | 79 |
| Operating income | 18 | (3.3) | (32) | (3.9) | 11 |
| Pre-tax income | 23 | 4.7 | (18) | 13 | 29 |
| Income tax | 15 | 4.9 | 3.8 | 6.6 | 9.1 |
| Net income | 7.8 | (0.2) | (22) | 6 | 20 |
| Diluted EPS | $0.16 | $0.00 | −$0.50 | $0.14 | $0.45 |
| Diluted shares (millions) | 48 | 45 | 43 | 43 | 45 |
5 older years available with the 10-year history. Essential plan, from €8.25/month →
3.16 Safe zone
Estimates bankruptcy risk from working capital, retained earnings, operating profit and equity. Above 2.6 is considered safe, below 1.1 signals distress.
7/9
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 Mar 31, 2026