(CRNT) Ceragon Networks - Overview
Stock: Microwave Radios, Millimeter-Wave Radios, IP-20 Platform, IP-50 Platform
EPS (Earnings per Share)
Revenue
| Risk 5d forecast | |
|---|---|
| Volatility | 51.4% |
| Relative Tail Risk | -9.60% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | -1.18 |
| Alpha | -76.09 |
| Character TTM | |
|---|---|
| Beta | 1.413 |
| Beta Downside | 1.566 |
| Drawdowns 3y | |
|---|---|
| Max DD | 66.42% |
| CAGR/Max DD | 0.11 |
Description: CRNT Ceragon Networks December 31, 2025
Ceragon Networks Ltd. (NASDAQ:CRNT) designs and sells microwave and millimeter-wave wireless transport equipment that links cellular base stations, small-cell sites and core networks for operators and a broad set of enterprise customers across 6 continents.
Its product line is organized around the IP-20 outdoor/indoor platforms (e.g., IP-20C, IP-20N) for short-haul links and the higher-capacity IP-50 family (e.g., IP-50E, IP-50CX) that serve long-haul, fronthaul and enterprise backhaul applications. The company also bundles planning, installation, audit and maintenance services to turn hardware sales into recurring-revenue contracts.
Ceragon’s customers include mobile network operators, internet service providers, municipalities, utilities, defense agencies and oil-&-gas firms. Sales are executed through a mixed channel model of direct accounts, OEM partnerships, regional distributors and system integrators.
Founded in 1996 (originally Giganet Ltd.) and headquartered in Rosh Haayin, Israel, Ceragon has benefited from the global 5G rollout, which is driving a 10-12% CAGR in the microwave backhaul market according to IDC. In FY 2023 the company reported $215 million in revenue, a 14% YoY increase, and its backlog grew to $420 million, indicating strong demand for network-expansion projects.
Given the accelerating capex cycles of Tier-1 carriers and the scarcity of fiber in dense urban and remote regions, Ceragon’s technology remains a cost-effective alternative for high-capacity transport. For a deeper dive into CRNT’s valuation metrics and peer comparison, see the ValueRay platform.
Piotroski VR‑10 (Strict, 0-10) 4.0
| Net Income: 1.39m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.02 > 0.02 and ΔFCF/TA -4.87 > 1.0 |
| NWC/Revenue: 29.09% < 20% (prev 26.97%; Δ 2.11% < -1%) |
| CFO/TA 0.07 > 3% & CFO 22.5m > Net Income 1.39m |
| Net Debt (4.63m) to EBITDA (29.6m): 0.16 < 3 |
| Current Ratio: 1.81 > 1.5 & < 3 |
| Outstanding Shares: last quarter (91.7m) vs 12m ago 3.86% < -2% |
| Gross Margin: 33.85% > 18% (prev 0.35%; Δ 3350 % > 0.5%) |
| Asset Turnover: 112.8% > 50% (prev 119.0%; Δ -6.22% > 0%) |
| Interest Coverage Ratio: 2.44 > 6 (EBITDA TTM 29.6m / Interest Expense TTM 6.51m) |
Altman Z'' -1.85
| A: 0.32 (Total Current Assets 235.5m - Total Current Liabilities 129.8m) / Total Assets 326.9m |
| B: -0.77 (Retained Earnings -253.3m / Total Assets 326.9m) |
| C: 0.05 (EBIT TTM 15.9m / Avg Total Assets 322.1m) |
| D: -1.69 (Book Value of Equity -261.4m / Total Liabilities 154.8m) |
| Altman-Z'' Score: -1.85 = D |
Beneish M -3.06
| DSRI: 0.96 (Receivables 112.0m/121.5m, Revenue 363.3m/377.6m) |
| GMI: 1.03 (GM 33.85% / 34.83%) |
| AQI: 1.11 (AQ_t 0.11 / AQ_t-1 0.10) |
| SGI: 0.96 (Revenue 363.3m / 377.6m) |
| TATA: -0.06 (NI 1.39m - CFO 22.5m) / TA 326.9m) |
| Beneish M-Score: -3.06 (Cap -4..+1) = AA |
What is the price of CRNT shares?
Over the past week, the price has changed by +3.48%, over one month by +6.73%, over three months by +1.28% and over the past year by -54.67%.
Is CRNT a buy, sell or hold?
- StrongBuy: 2
- Buy: 2
- Hold: 0
- Sell: 0
- StrongSell: 0
What are the forecasts/targets for the CRNT price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 4.8 | 99.6% |
| Analysts Target Price | 4.8 | 99.6% |
| ValueRay Target Price | 2.3 | -5.5% |
CRNT Fundamental Data Overview February 02, 2026
P/E Forward = 13.947
P/S = 0.569
P/B = 1.2012
P/EG = 8.8
Revenue TTM = 363.3m USD
EBIT TTM = 15.9m USD
EBITDA TTM = 29.6m USD
Long Term Debt = 16.6m USD (from capitalLeaseObligations, last quarter)
Short Term Debt = 34.7m USD (from shortTermDebt, last quarter)
Debt = 47.6m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 4.63m USD (from netDebt column, last quarter)
Enterprise Value = 211.4m USD (206.7m + Debt 47.6m - CCE 43.0m)
Interest Coverage Ratio = 2.44 (Ebit TTM 15.9m / Interest Expense TTM 6.51m)
EV/FCF = 38.94x (Enterprise Value 211.4m / FCF TTM 5.43m)
FCF Yield = 2.57% (FCF TTM 5.43m / Enterprise Value 211.4m)
FCF Margin = 1.49% (FCF TTM 5.43m / Revenue TTM 363.3m)
Net Margin = 0.38% (Net Income TTM 1.39m / Revenue TTM 363.3m)
Gross Margin = 33.85% ((Revenue TTM 363.3m - Cost of Revenue TTM 240.3m) / Revenue TTM)
Gross Margin QoQ = 34.33% (prev 34.24%)
Tobins Q-Ratio = 0.65 (Enterprise Value 211.4m / Total Assets 326.9m)
Interest Expense / Debt = 6.25% (Interest Expense 2.98m / Debt 47.6m)
Taxrate = 11.71% (3.19m / 27.3m)
NOPAT = 14.1m (EBIT 15.9m * (1 - 11.71%))
Current Ratio = 1.81 (Total Current Assets 235.5m / Total Current Liabilities 129.8m)
Debt / Equity = 0.28 (Debt 47.6m / totalStockholderEquity, last quarter 172.1m)
Debt / EBITDA = 0.16 (Net Debt 4.63m / EBITDA 29.6m)
Debt / FCF = 0.85 (Net Debt 4.63m / FCF TTM 5.43m)
Total Stockholder Equity = 169.3m (last 4 quarters mean from totalStockholderEquity)
RoA = 0.43% (Net Income 1.39m / Total Assets 326.9m)
RoE = 0.82% (Net Income TTM 1.39m / Total Stockholder Equity 169.3m)
RoCE = 8.56% (EBIT 15.9m / Capital Employed (Equity 169.3m + L.T.Debt 16.6m))
RoIC = 7.21% (NOPAT 14.1m / Invested Capital 194.8m)
WACC = 10.07% (E(206.7m)/V(254.4m) * Re(11.12%) + D(47.6m)/V(254.4m) * Rd(6.25%) * (1-Tc(0.12)))
Discount Rate = 11.12% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 3.86%
[DCF Debug] Terminal Value 61.49% ; FCFF base≈11.5m ; Y1≈7.58m ; Y5≈3.46m
Fair Price DCF = 0.50 (EV 50.0m - Net Debt 4.63m = Equity 45.3m / Shares 89.9m; r=10.07% [WACC]; 5y FCF grow -40.0% → 2.90% )
EPS Correlation: 33.49 | EPS CAGR: 89.54% | SUE: -1.09 | # QB: 0
Revenue Correlation: 69.39 | Revenue CAGR: 2.56% | SUE: 0.38 | # QB: 0
EPS next Quarter (2026-03-31): EPS=0.02 | Chg30d=-0.006 | Revisions Net=-1 | Analysts=4
EPS next Year (2026-12-31): EPS=0.17 | Chg30d=-0.025 | Revisions Net=-2 | Growth EPS=+71.8% | Growth Revenue=+6.7%