RDWR

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Radware Ltd.

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Key Metrics

Previous Close: $27.05
52-Week Range: $21.68 – $32.79
Market Cap: $1.14B
P/E (TTM): 69.18
EPS (TTM): 0.39
Dividend Yield: —

Advanced Metrics

Price/Book: 3.54
PEG Ratio: 22.79
Return on Equity: 4.67%
Return on Assets: 0.87%
Gross Margin: 80.55%
Operating Margin: 3.12%
Profit Margin: 5.33%
Current Ratio: 1.63
Debt/Equity: 0.04
Total Debt: $16.09M
Free Cash Flow: $23.59M
Revenue Growth: 10.90%
Earnings Growth: -55.10%
Enterprise Value: $937.49M

RDWR Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$293.43M	$261.29M	$274.88M	$301.85M
Cost of Revenue	$53.88M	$51.71M	$53.25M	$58.34M
Gross Profit	$239.54M	$209.58M	$221.63M	$243.51M
Research & Development	$86.56M	$82.62M	$74.72M	$78.98M
Selling, General & Admin	$156.32M	$158.65M	$150.79M	$153.12M
Operating Expenses	$242.88M	$241.26M	$225.51M	$232.10M
Operating Income	-$3.34M	-$31.68M	-$3.89M	$11.41M
EBITDA	$8.35M	-$19.44M	$7.95M	$23.09M
Pretax Income	$4.71M	-$17.75M	$12.66M	$29.31M
Income Tax	$4.88M	$3.84M	$6.63M	$9.05M
Net Income	-$166.00K	-$21.59M	$6.04M	$20.26M
Diluted EPS	-0.00	-0.50	0.14	0.45
Diluted Shares	44.94M	42.87M	43.36M	44.70M

RDWR Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$46.19M	$70.54M	$98.71M	$105.08M
Receivables	$17.75M	$20.27M	$16.82M	$35.02M
Inventory	$11.43M	$15.54M	$14.03M	$13.22M
Current Assets	$334.42M	$375.93M	$320.88M	$316.51M
Total Assets	$643.59M	$571.92M	$618.68M	$671.16M
Current Liabilities	$164.03M	$155.01M	$168.47M	$194.28M
Total Debt	$24.15M	$20.70M	$18.27M	$17.02M
Total Liabilities	$275.14M	$248.64M	$261.60M	$280.48M
Retained Earnings	$141.40M	$119.81M	$125.85M	$146.11M
Shareholders' Equity	$332.16M	$284.09M	$316.27M	$349.36M
Working Capital	$170.38M	$220.91M	$152.41M	$122.22M

RDWR Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	$32.15M	-$3.50M	$71.61M	$50.09M
Capital Expenditure	-$8.81M	-$5.43M	-$5.28M	-$8.54M
Free Cash Flow	$23.33M	-$8.93M	$66.33M	$41.55M
Depreciation & Amortisation	$11.69M	$12.24M	$11.84M	$11.68M
Stock-Based Compensation	$27.35M	$34.02M	$26.03M	$24.04M
Investing Cash Flow	-$56.02M	$92.78M	-$39.52M	-$30.07M
Financing Cash Flow	-$22.46M	-$64.93M	-$3.91M	-$13.66M
Share Repurchases	-$59.49M	-$63.23M	-$839.00K	-$10.49M
Net Change in Cash	-$46.33M	$24.35M	$28.18M	$6.36M

RDWR Income statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Revenue	$74.11M	$75.31M	$80.25M	$79.81M	$82.28M
Cost of Revenue	$13.90M	$14.56M	$15.47M	$15.11M	$15.82M
Gross Profit	$60.20M	$60.75M	$64.77M	$64.70M	$66.46M
Research & Development	$18.16M	$19.69M	$21.13M	$21.10M	$23.77M
Selling, General & Admin	$36.93M	$37.96M	$39.70M	$39.08M	$40.22M
Operating Expenses	$55.09M	$57.65M	$60.83M	$60.18M	$63.99M
Operating Income	$5.11M	$3.10M	$3.94M	$4.52M	$2.47M
EBITDA	$7.71M	$5.91M	$6.80M	$7.11M	$5.38M
Pretax Income	$8.63M	$7.90M	$8.51M	$8.29M	$6.01M
Income Tax	$2.24M	$2.25M	$2.46M	$2.17M	$2.13M
Net Income	$4.22M	$5.65M	$6.04M	$3.54M	$1.71M
Diluted EPS	0.09	0.13	0.13	0.08	0.04
Diluted Shares	44.51M	44.95M	45.13M	44.50M	43.69M

RDWR Balance Sheet statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Cash & Equivalents	$103.84M	$87.28M	$105.08M	$108.81M	$85.20M
Receivables	$36.60M	$44.73M	$35.02M	$43.07M	$52.90M
Inventory	$13.31M	$13.33M	$13.22M	$13.13M	$13.65M
Current Assets	$323.42M	$299.14M	$316.51M	$315.06M	$320.14M
Total Assets	$658.54M	$661.50M	$671.16M	$656.45M	$654.39M
Current Liabilities	$184.49M	$178.22M	$194.28M	$198.29M	$196.08M
Total Debt	$17.72M	$17.76M	$17.02M	$16.37M	$16.09M
Total Liabilities	$278.80M	$271.79M	$280.48M	$288.23M	$295.25M
Retained Earnings	$134.42M	$140.07M	$146.11M	$149.65M	$151.36M
Shareholders' Equity	$338.57M	$348.42M	$349.36M	$326.82M	$317.65M
Working Capital	$138.93M	$120.92M	$122.22M	$116.77M	$124.07M

RDWR Cash Flow statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Operating Cash Flow	$14.49M	-$4.17M	$17.33M	$17.64M	$11.14M
Capital Expenditure	-$2.66M	-$1.88M	-$2.88M	-$2.65M	-$2.02M
Free Cash Flow	$11.83M	-$6.06M	$14.45M	$14.99M	$9.11M
Depreciation & Amortisation	$2.59M	$2.81M	$2.85M	$2.59M	$2.91M
Stock-Based Compensation	$5.46M	$5.44M	$7.10M	$5.51M	$7.33M
Investing Cash Flow	-$21.72M	-$12.39M	$10.96M	$18.53M	-$14.18M
Financing Cash Flow	-$3.17M	$1.00K	-$10.49M	-$29.39M	-$22.17M
Share Repurchases	$0.00	$0.00	-$10.49M	-$29.39M	-$18.77M
Net Change in Cash	-$10.40M	-$16.56M	$17.80M	$6.78M	-$25.22M

Market Snapshot

About

Radware Ltd. is an Israeli cybersecurity company that provides application delivery and cyber attack mitigation solutions. Its products include DDoS protection, web application firewalls, load balancers, and cloud security services used by enterprises and service providers to protect data centers and cloud environments.