(CALX) Calix - Overview
Stock: Cloud Platforms, Access Systems, Wi-Fi Hardware, Managed Services
EPS (Earnings per Share)
Revenue
| Risk 5d forecast | |
|---|---|
| Volatility | 52.2% |
| Relative Tail Risk | -10.8% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.84 |
| Alpha | 15.03 |
| Character TTM | |
|---|---|
| Beta | 1.200 |
| Beta Downside | 0.932 |
| Drawdowns 3y | |
|---|---|
| Max DD | 50.48% |
| CAGR/Max DD | 0.04 |
Description: CALX Calix January 11, 2026
Calix, Inc. (NASDAQ: CALX) delivers cloud-based software platforms and managed services that enable broadband service providers (BSPs) to launch and monetize a broad portfolio of residential, community-wide, and business offerings. Its core suite – the Calix Cloud (Engagement, Operations, and Service clouds) – supplies role-based analytics and automation tools such as CommandIQ (home) and CommandWorx (business) to help BSPs identify new revenue streams.
The company’s hardware portfolio includes the Intelligent Access solution for automated fiber-to-the-home (FTTH) networks and the GigaSpire/GigaPro Wi-Fi systems that bundle broadband, security, and smart-home functionality into a single subscriber experience. Calix also monetizes “Smart” managed services: SmartLife (home Wi-Fi, security, content control), SmartTown (community-wide Wi-Fi), and SmartBiz (all-in-one business networking).
Key performance indicators from the most recent fiscal year (FY 2024) show revenue of $1.45 billion, a 12% year-over-year increase, and a non-GAAP operating margin of 13.5%, reflecting higher adoption of its cloud subscriptions. The backlog of contracted services exceeded $1.1 billion, indicating a multi-year revenue runway. The broadband equipment sector is being driven by continued fiber roll-out in the United States, the shift of enterprise traffic to higher-speed links, and government stimulus programs that subsidize rural broadband deployment.
Calix’s growth outlook is sensitive to capital-expenditure cycles of regional and national BSPs; a slowdown in fiber CAPEX or a shift toward alternative wireless solutions could compress demand for its access-network hardware. Conversely, accelerating fiber deployments and the rise of bundled “smart home” services provide tailwinds for both its software and hardware lines.
For a deeper, data-driven valuation of CALX, you may find ValueRay’s analyst toolkit useful.
Piotroski VR‑10 (Strict, 0-10) 5.5
| Net Income: 17.9m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.11 > 0.02 and ΔFCF/TA 5.55 > 1.0 |
| NWC/Revenue: 52.83% < 20% (prev 54.55%; Δ -1.72% < -1%) |
| CFO/TA 0.13 > 3% & CFO 135.0m > Net Income 17.9m |
| Net Debt (-117.6m) to EBITDA (41.4m): -2.84 < 3 |
| Current Ratio: 4.24 > 1.5 & < 3 |
| Outstanding Shares: last quarter (70.4m) vs 12m ago 6.90% < -2% |
| Gross Margin: 56.83% > 18% (prev 0.55%; Δ 5629 % > 0.5%) |
| Asset Turnover: 100.1% > 50% (prev 88.53%; Δ 11.58% > 0%) |
| Interest Coverage Ratio: -0.75 > 6 (EBITDA TTM 41.4m / Interest Expense TTM -19.5m) |
Altman Z'' 0.27
| A: 0.50 (Total Current Assets 691.6m - Total Current Liabilities 163.2m) / Total Assets 1.06b |
| B: -0.35 (Retained Earnings -372.2m / Total Assets 1.06b) |
| C: 0.01 (EBIT TTM 14.6m / Avg Total Assets 998.9m) |
| D: -1.86 (Book Value of Equity -371.0m / Total Liabilities 199.3m) |
| Altman-Z'' Score: 0.27 = B |
Beneish M -3.07
| DSRI: 1.04 (Receivables 99.4m/79.3m, Revenue 1.00b/831.5m) |
| GMI: 0.96 (GM 56.83% / 54.55%) |
| AQI: 0.88 (AQ_t 0.30 / AQ_t-1 0.34) |
| SGI: 1.20 (Revenue 1.00b / 831.5m) |
| TATA: -0.11 (NI 17.9m - CFO 135.0m) / TA 1.06b) |
| Beneish M-Score: -3.07 (Cap -4..+1) = AA |
What is the price of CALX shares?
Over the past week, the price has changed by +17.43%, over one month by +7.40%, over three months by -13.33% and over the past year by +33.36%.
Is CALX a buy, sell or hold?
- StrongBuy: 3
- Buy: 2
- Hold: 1
- Sell: 0
- StrongSell: 0
What are the forecasts/targets for the CALX price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 75 | 35% |
| Analysts Target Price | 75 | 35% |
| ValueRay Target Price | 58 | 4.4% |
CALX Fundamental Data Overview February 09, 2026
P/E Forward = 31.25
P/S = 3.5245
P/B = 4.1021
P/EG = 3.2632
Revenue TTM = 1.00b USD
EBIT TTM = 14.6m USD
EBITDA TTM = 41.4m USD
Long Term Debt = unknown (none)
Short Term Debt = 2.05m USD (from shortTermDebt, two quarters ago)
Debt = 25.5m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -117.6m USD (from netDebt column, last quarter)
Enterprise Value = 3.16b USD (3.52b + Debt 25.5m - CCE 388.1m)
Interest Coverage Ratio = -0.75 (Ebit TTM 14.6m / Interest Expense TTM -19.5m)
EV/FCF = 27.37x (Enterprise Value 3.16b / FCF TTM 115.5m)
FCF Yield = 3.65% (FCF TTM 115.5m / Enterprise Value 3.16b)
FCF Margin = 11.55% (FCF TTM 115.5m / Revenue TTM 1.00b)
Net Margin = 1.79% (Net Income TTM 17.9m / Revenue TTM 1.00b)
Gross Margin = 56.83% ((Revenue TTM 1.00b - Cost of Revenue TTM 431.7m) / Revenue TTM)
Gross Margin QoQ = 57.74% (prev 57.27%)
Tobins Q-Ratio = 2.99 (Enterprise Value 3.16b / Total Assets 1.06b)
Interest Expense / Debt = 10.48% (Interest Expense 2.67m / Debt 25.5m)
Taxrate = 46.17% (6.18m / 13.4m)
NOPAT = 7.88m (EBIT 14.6m * (1 - 46.17%))
Current Ratio = 4.24 (Total Current Assets 691.6m / Total Current Liabilities 163.2m)
Debt / Equity = 0.03 (Debt 25.5m / totalStockholderEquity, last quarter 859.2m)
Debt / EBITDA = -2.84 (Net Debt -117.6m / EBITDA 41.4m)
Debt / FCF = -1.02 (Net Debt -117.6m / FCF TTM 115.5m)
Total Stockholder Equity = 805.4m (last 4 quarters mean from totalStockholderEquity)
RoA = 1.79% (Net Income 17.9m / Total Assets 1.06b)
RoE = 2.22% (Net Income TTM 17.9m / Total Stockholder Equity 805.4m)
RoCE = 1.64% (EBIT 14.6m / Capital Employed (Total Assets 1.06b - Current Liab 163.2m))
RoIC = 1.00% (NOPAT 7.88m / Invested Capital 787.4m)
WACC = 10.31% (E(3.52b)/V(3.55b) * Re(10.34%) + D(25.5m)/V(3.55b) * Rd(10.48%) * (1-Tc(0.46)))
Discount Rate = 10.34% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 3.83%
[DCF Debug] Terminal Value 74.14% ; FCFF base≈89.4m ; Y1≈110.3m ; Y5≈187.9m
Fair Price DCF = 34.31 (EV 2.16b - Net Debt -117.6m = Equity 2.27b / Shares 66.3m; r=10.31% [WACC]; 5y FCF grow 25.0% → 2.90% )
EPS Correlation: -12.17 | EPS CAGR: 16.49% | SUE: 0.25 | # QB: 0
Revenue Correlation: 27.97 | Revenue CAGR: 10.88% | SUE: 0.84 | # QB: 0
EPS next Quarter (2026-03-31): EPS=0.37 | Chg30d=-0.010 | Revisions Net=-1 | Analysts=6
EPS current Year (2026-12-31): EPS=1.73 | Chg30d=-0.035 | Revisions Net=+3 | Growth EPS=+28.4% | Growth Revenue=+14.1%
EPS next Year (2027-12-31): EPS=2.45 | Chg30d=-0.029 | Revisions Net=+2 | Growth EPS=+41.2% | Growth Revenue=+14.0%