RDWR - RADWARE LTD

📈 Is growth accelerating? 7 metrics

Metric	FY 2025 Dec 31, 2025 20-F ↗	FY 2024 Dec 31, 2024 20-F ↗	FY 2023 Dec 31, 2023 20-F ↗	FY 2022 Dec 31, 2022 20-F ↗	FY 2021 Dec 31, 2021 20-F ↗	FY 2020 Dec 31, 2020 20-F ↗	FY 2019 Dec 31, 2019 20-F ↗	FY 2018 Dec 31, 2018 20-F ↗	FY 2017 Dec 31, 2017 20-F ↗	FY 2016 Dec 31, 2016 20-F ↗	FY 2015 Dec 31, 2015 20-F ↗	FY 2014 Dec 31, 2014 20-F ↗	FY 2013 Dec 31, 2013 20-F ↗	FY 2012 Dec 31, 2012 20-F ↗	FY 2011 Dec 31, 2011 20-F ↗	FY 2010 Dec 31, 2010 20-F ↗	FY 2009 Dec 31, 2009 20-F ↗	FY 2008 Dec 31, 2008 20-F ↗
Revenue Growth YoY (%)	9.8% Fair ↑ Fair Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+96%)	5.2% Fair ↑ Fair Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: At sector avg	-11.0% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-319%)	2.4% Caution ↓ Caution Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-52%)	14.6% Good ↑ Good Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+192%)	-0.8% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-116%)	7.5% Fair ↑ Fair Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+51%)	10.9% Good ↑ Good Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+118%)	7.5% Fair ↑ Fair Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+50%)	-9.2% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-285%)	-2.4% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-148%)	15.0% Good ↑ Good Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+199%)	2.0% Caution ↓ Caution Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-60%)	13.3% Good ↓ Good Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+165%)	15.9% Good Good Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+218%)	32.3% Excellent Excellent Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+547%)	—	—
EPS Growth YoY (%)	235.7% Excellent Excellent Year-over-year change in earnings per share Optimal: > 10%	N/M	—	N/M	-19.0% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	-56.3% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	84.6% Excellent Excellent Year-over-year change in earnings per share Optimal: > 10%	N/M	15.0% Good ↑ Good Improving Year-over-year change in earnings per share Optimal: > 10%	N/M	-27.3% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	37.5% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	-72.4% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	42.2% Excellent Excellent Year-over-year change in earnings per share Optimal: > 10%	108.2% Excellent Excellent Year-over-year change in earnings per share Optimal: > 10%	N/M	—	—
Net Income Growth YoY (%)	235.5% Excellent Excellent Year-over-year change in net income	N/M	-12906.0% Weak ↓ Weak Declining Year-over-year change in net income	N/M	-18.9% Weak ↓ Weak Declining Year-over-year change in net income	-57.3% Weak ↓ Weak Declining Year-over-year change in net income	92.3% Excellent Excellent Year-over-year change in net income	N/M	13.5% Fair ↑ Fair Improving Year-over-year change in net income	N/M	-25.6% Weak ↓ Weak Declining Year-over-year change in net income	38.2% Excellent ↓ Excellent Declining Year-over-year change in net income	-43.1% Weak ↓ Weak Declining Year-over-year change in net income	48.8% Excellent Excellent Year-over-year change in net income	121.5% Excellent Excellent Year-over-year change in net income	N/M	—	—
FCF Growth YoY (%)	-38.7% Weak Weak Year-over-year change in free cash flow	N/M	N/M	-64.0% Weak ↓ Weak Declining Year-over-year change in free cash flow	21.3% Good ↓ Good Declining Year-over-year change in free cash flow	24.4% Good ↑ Good Improving Year-over-year change in free cash flow	7.1% Fair ↓ Fair Declining Year-over-year change in free cash flow	59.8% Excellent Excellent Year-over-year change in free cash flow	-15.8% Weak Weak Year-over-year change in free cash flow	—	—	—	—	11.5% Fair Fair Year-over-year change in free cash flow	—	—	—	—
Revenue CAGR 3Y (%)	0.9% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	-1.4% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	1.5% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	5.2% Fair ↓ Fair Declining Compound annual revenue growth over 3 years	6.9% Fair ↑ Fair Improving Compound annual revenue growth over 3 years	5.8% Fair ↑ Fair Improving Compound annual revenue growth over 3 years	8.6% Fair ↑ Fair Improving Compound annual revenue growth over 3 years	2.7% Caution ↑ Caution Improving Compound annual revenue growth over 3 years	-1.6% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	0.6% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	4.6% Caution ↓ Caution Declining Compound annual revenue growth over 3 years	9.9% Fair ↓ Fair Declining Compound annual revenue growth over 3 years	10.2% Good Good Compound annual revenue growth over 3 years	20.2% Excellent Excellent Compound annual revenue growth over 3 years	—	—	—	—
Revenue CAGR 5Y (%)	3.8% Caution ↑ Caution Improving Compound annual revenue growth over 5 years	1.7% Caution ↓ Caution Declining Compound annual revenue growth over 5 years	2.2% Caution ↓ Caution Declining Compound annual revenue growth over 5 years	6.8% Fair ↑ Fair Improving Compound annual revenue growth over 5 years	7.8% Fair ↑ Fair Improving Compound annual revenue growth over 5 years	2.9% Caution → Caution Stable Compound annual revenue growth over 5 years	2.6% Caution ↓ Caution Declining Compound annual revenue growth over 5 years	4.0% Caution ↓ Caution Declining Compound annual revenue growth over 5 years	2.2% Caution ↓ Caution Declining Compound annual revenue growth over 5 years	3.3% Caution ↓ Caution Declining Compound annual revenue growth over 5 years	8.5% Good Good Compound annual revenue growth over 5 years	15.3% Excellent Excellent Compound annual revenue growth over 5 years	—	—	—	—	—	—
EPS CAGR 3Y (%)	—	-6.3% Weak Weak Compound annual EPS growth over 3 years	—	—	-13.2% Weak Weak Compound annual EPS growth over 3 years	—	—	-13.4% Weak Weak Compound annual EPS growth over 3 years	—	—	-34.9% Weak ↓ Weak Declining Compound annual EPS growth over 3 years	-18.6% Weak Weak Compound annual EPS growth over 3 years	-6.5% Weak Weak Compound annual EPS growth over 3 years	—	—	—	—	—

💰 Are margins durable? 5 metrics

Metric	FY 2025 Dec 31, 2025 20-F ↗	FY 2024 Dec 31, 2024 20-F ↗	FY 2023 Dec 31, 2023 20-F ↗	FY 2022 Dec 31, 2022 20-F ↗	FY 2021 Dec 31, 2021 20-F ↗	FY 2020 Dec 31, 2020 20-F ↗	FY 2019 Dec 31, 2019 20-F ↗	FY 2018 Dec 31, 2018 20-F ↗	FY 2017 Dec 31, 2017 20-F ↗	FY 2016 Dec 31, 2016 20-F ↗	FY 2015 Dec 31, 2015 20-F ↗	FY 2014 Dec 31, 2014 20-F ↗	FY 2013 Dec 31, 2013 20-F ↗	FY 2012 Dec 31, 2012 20-F ↗	FY 2011 Dec 31, 2011 20-F ↗	FY 2010 Dec 31, 2010 20-F ↗	FY 2009 Dec 31, 2009 20-F ↗	FY 2008 Dec 31, 2008 20-F ↗
Operating Margin (%) (%)	3.8% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-69%)	-1.4% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-112%)	-12.1% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-201%)	-1.1% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-109%)	6.4% Caution ↑ Caution Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-47%)	2.5% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-79%)	6.7% Caution ↑ Caution Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-44%)	3.2% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-73%)	-3.2% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-126%)	-6.5% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-154%)	8.3% Caution ↓ Caution Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-31%)	11.3% Caution ↓ Caution Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-6%)	9.1% Caution ↓ Caution Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-24%)	16.3% Fair ↑ Fair Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+36%)	11.0% Caution ↑ Caution Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-8%)	5.9% Weak Weak Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-51%)	-6.5% Weak Weak Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-154%)	—
Effective Tax Rate (%) (%)	30.9% Weak ↓ Weak Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	52.3% Weak ↑ Weak Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	-21.6% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	103.5% Weak ↑ Weak Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	65.5% Weak Weak Actual taxes paid relative to pre-tax income Optimal: 15-25%	31.0% Weak Weak Actual taxes paid relative to pre-tax income Optimal: 15-25%	—	—	—	—	—	—	—	—	—	—	—	—
Profit Margin (%) (%)	6.7% Caution ↑ Caution Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-16%)	2.2% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-73%)	-8.3% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-203%)	-0.1% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-101%)	2.7% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-66%)	3.9% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-52%)	9.0% Caution ↑ Caution Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+12%)	5.0% Caution ↑ Caution Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-37%)	-3.5% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-144%)	-4.4% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-155%)	8.6% Caution ↓ Caution Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+7%)	11.2% Fair ↓ Fair Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+41%)	9.4% Caution ↓ Caution Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+17%)	16.8% Good ↑ Good Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+110%)	12.8% Fair ↑ Fair Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Above avg (+60%)	6.7% Caution Caution Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-16%)	-5.5% Weak Weak Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-168%)	—
FCF Margin (%) (%)	13.8% Fair ↑ Fair Improving Free cash flow as a percentage of revenue Optimal: > 10%	24.1% Excellent ↑ Excellent Improving Free cash flow as a percentage of revenue Optimal: > 10%	-3.4% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	8.0% Caution ↓ Caution Declining Free cash flow as a percentage of revenue Optimal: > 10%	23.1% Excellent ↑ Excellent Improving Free cash flow as a percentage of revenue Optimal: > 10%	22.1% Excellent ↑ Excellent Improving Free cash flow as a percentage of revenue Optimal: > 10%	17.7% Good ↑ Good Improving Free cash flow as a percentage of revenue Optimal: > 10%	17.2% Good ↑ Good Improving Free cash flow as a percentage of revenue Optimal: > 10%	11.5% Fair Fair Free cash flow as a percentage of revenue Optimal: > 10%	14.8% Fair Fair Free cash flow as a percentage of revenue Optimal: > 10%	—	—	—	22.3% Excellent ↑ Excellent Improving Free cash flow as a percentage of revenue Optimal: > 10%	21.7% Excellent ↑ Excellent Improving Free cash flow as a percentage of revenue Optimal: > 10%	24.5% Excellent Excellent Free cash flow as a percentage of revenue Optimal: > 10%	7.9% Caution Caution Free cash flow as a percentage of revenue Optimal: > 10%	—
FCF / Net Income (x)	2.05x Excellent ↑ Excellent Improving Free cash flow relative to reported net income Optimal: > 1x	10.99x Excellent ↑ Excellent Improving Free cash flow relative to reported net income Optimal: > 1x	0.41x Weak ↑ Weak Improving Free cash flow relative to reported net income Optimal: > 1x	-140.57x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	8.47x Excellent ↑ Excellent Improving Free cash flow relative to reported net income Optimal: > 1x	5.73x Excellent ↑ Excellent Improving Free cash flow relative to reported net income Optimal: > 1x	1.98x Excellent ↑ Excellent Improving Free cash flow relative to reported net income Optimal: > 1x	3.44x Excellent ↑ Excellent Improving Free cash flow relative to reported net income Optimal: > 1x	-3.24x Weak Weak Free cash flow relative to reported net income Optimal: > 1x	-3.36x Weak Weak Free cash flow relative to reported net income Optimal: > 1x	—	—	—	1.33x Good → Good Stable Free cash flow relative to reported net income Optimal: > 1x	1.70x Excellent ↑ Excellent Improving Free cash flow relative to reported net income Optimal: > 1x	3.67x Excellent Excellent Free cash flow relative to reported net income Optimal: > 1x	-1.45x Weak Weak Free cash flow relative to reported net income Optimal: > 1x	—

🎯 Is capital allocation efficient? 3 metrics

Metric	FY 2025 Dec 31, 2025 20-F ↗	FY 2024 Dec 31, 2024 20-F ↗	FY 2023 Dec 31, 2023 20-F ↗	FY 2022 Dec 31, 2022 20-F ↗	FY 2021 Dec 31, 2021 20-F ↗	FY 2020 Dec 31, 2020 20-F ↗	FY 2019 Dec 31, 2019 20-F ↗	FY 2018 Dec 31, 2018 20-F ↗	FY 2017 Dec 31, 2017 20-F ↗	FY 2016 Dec 31, 2016 20-F ↗	FY 2015 Dec 31, 2015 20-F ↗	FY 2014 Dec 31, 2014 20-F ↗	FY 2013 Dec 31, 2013 20-F ↗	FY 2012 Dec 31, 2012 20-F ↗	FY 2011 Dec 31, 2011 20-F ↗	FY 2010 Dec 31, 2010 20-F ↗	FY 2009 Dec 31, 2009 20-F ↗	FY 2008 Dec 31, 2008 20-F ↗
Return on Invested Capital (%)	2.3% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	-0.6% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	-13.6% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	0.0% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	1.7% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	1.1% Weak → Weak Stable Return earned on debt + equity capital invested Optimal: > 10%	3.4% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	1.6% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	-1.7% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-3.4% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	4.5% Caution ↓ Caution Declining Return earned on debt + equity capital invested Optimal: > 10%	5.9% Caution ↓ Caution Declining Return earned on debt + equity capital invested Optimal: > 10%	4.7% Caution ↓ Caution Declining Return earned on debt + equity capital invested Optimal: > 10%	9.0% Fair ↑ Fair Improving Return earned on debt + equity capital invested Optimal: > 10%	6.6% Caution ↑ Caution Improving Return earned on debt + equity capital invested Optimal: > 10%	3.6% Weak Weak Return earned on debt + equity capital invested Optimal: > 10%	-3.8% Weak Weak Return earned on debt + equity capital invested Optimal: > 10%	—
Return on Capital (%) (%)	1.7% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-0.6% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-5.5% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-0.5% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	2.9% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	1.0% Weak → Weak Stable Operating profit relative to total assets Optimal: > 10%	2.8% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	1.4% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-1.4% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-3.0% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	4.2% Caution ↓ Caution Declining Operating profit relative to total assets Optimal: > 10%	5.7% Caution ↓ Caution Declining Operating profit relative to total assets Optimal: > 10%	4.5% Caution ↓ Caution Declining Operating profit relative to total assets Optimal: > 10%	8.6% Fair ↑ Fair Improving Operating profit relative to total assets Optimal: > 10%	6.2% Caution Caution Operating profit relative to total assets Optimal: > 10%	3.2% Weak Weak Operating profit relative to total assets Optimal: > 10%	—	—
Return on Common Equity (%) (%)	5.8% Caution ↑ Caution Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-61%)	1.9% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-87%)	-7.6% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-151%)	-0.0% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-100%)	2.1% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-86%)	2.5% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-83%)	5.7% Caution ↑ Caution Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-62%)	3.2% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-79%)	-2.4% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-116%)	-2.9% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-119%)	5.8% Caution ↓ Caution Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-61%)	7.5% Caution ↓ Caution Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-50%)	6.1% Caution ↓ Caution Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-59%)	11.7% Fair ↑ Fair Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-22%)	9.7% Caution ↑ Caution Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-35%)	5.2% Caution Caution Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-65%)	-4.0% Weak Weak Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-126%)	—

⚖️ Is the balance sheet risky? 1 metrics

Metric	FY 2025 Dec 31, 2025 20-F ↗	FY 2024 Dec 31, 2024 20-F ↗	FY 2023 Dec 31, 2023 20-F ↗	FY 2022 Dec 31, 2022 20-F ↗	FY 2021 Dec 31, 2021 20-F ↗	FY 2020 Dec 31, 2020 20-F ↗	FY 2019 Dec 31, 2019 20-F ↗	FY 2018 Dec 31, 2018 20-F ↗	FY 2017 Dec 31, 2017 20-F ↗	FY 2016 Dec 31, 2016 20-F ↗	FY 2015 Dec 31, 2015 20-F ↗	FY 2014 Dec 31, 2014 20-F ↗	FY 2013 Dec 31, 2013 20-F ↗	FY 2012 Dec 31, 2012 20-F ↗	FY 2011 Dec 31, 2011 20-F ↗	FY 2010 Dec 31, 2010 20-F ↗	FY 2009 Dec 31, 2009 20-F ↗	FY 2008 Dec 31, 2008 20-F ↗
Net Debt (USD)	$-105.08M	$-98.71M	$-70.54M	$-46.19M	$-92.51M	$-54.77M	$-40.75M	$-45.20M	$-65.24M	$-79.64M	$-33.74M	$-44.98M	$-20.07M	$-20.05M	$-17.39M	$-15.28M	$-19.84M	$-28.07M

📊 What does each share earn? 6 metrics

Metric	FY 2025 Dec 31, 2025 20-F ↗	FY 2024 Dec 31, 2024 20-F ↗	FY 2023 Dec 31, 2023 20-F ↗	FY 2022 Dec 31, 2022 20-F ↗	FY 2021 Dec 31, 2021 20-F ↗	FY 2020 Dec 31, 2020 20-F ↗	FY 2019 Dec 31, 2019 20-F ↗	FY 2018 Dec 31, 2018 20-F ↗	FY 2017 Dec 31, 2017 20-F ↗	FY 2016 Dec 31, 2016 20-F ↗	FY 2015 Dec 31, 2015 20-F ↗	FY 2014 Dec 31, 2014 20-F ↗	FY 2013 Dec 31, 2013 20-F ↗	FY 2012 Dec 31, 2012 20-F ↗	FY 2011 Dec 31, 2011 20-F ↗	FY 2010 Dec 31, 2010 20-F ↗	FY 2009 Dec 31, 2009 20-F ↗	FY 2008 Dec 31, 2008 20-F ↗
Revenue per Share (USD)	$7.04	$6.55	$6.09	$6.53	$6.24	$5.38	$5.38	$5.18	$4.86	$4.48	$4.72	$4.90	$4.31	$8.66	$7.97	—	—	—
Basic EPS, GAAP (USD)	$0.47	$0.14	$-0.50	$0.00	$0.17	$0.21	$0.48	$0.26	$-0.17	$-0.20	$0.40	$0.55	$0.40	$1.45	$1.02	$0.49	$-0.31	—
Free Cash Flow per Share (USD)	$0.97	$1.58	$-0.21	$0.52	$1.44	$1.19	$0.95	$0.89	$0.56	$0.66	—	—	—	$1.93	$1.73	—	—	—
Book Value per Share (USD)	$8.10	$7.43	$6.81	$7.50	$8.07	$8.37	$8.41	$7.85	$7.15	$6.94	$7.13	$7.11	$6.57	$12.23	$10.32	$9.04	—	—
Tangible Book Value per Share (USD)	$6.34	$5.56	$4.81	$5.52	$6.93	$7.22	$7.23	$6.95	$6.18	$6.19	$6.38	$6.37	$5.79	$10.89	$8.79	$7.26	—	—
Basic Weighted Avg Shares (shares)	42.88M	41.98M	42.87M	44.94M	45.92M	46.46M	46.82M	45.29M	43.48M	43.87M	45.90M	45.31M	44.76M	21.85M	20.95M	—	—	—

🏦 How resilient is the balance sheet? 2 metrics

Metric	FY 2025 Dec 31, 2025 20-F ↗	FY 2024 Dec 31, 2024 20-F ↗	FY 2023 Dec 31, 2023 20-F ↗	FY 2022 Dec 31, 2022 20-F ↗	FY 2021 Dec 31, 2021 20-F ↗	FY 2020 Dec 31, 2020 20-F ↗	FY 2019 Dec 31, 2019 20-F ↗	FY 2018 Dec 31, 2018 20-F ↗	FY 2017 Dec 31, 2017 20-F ↗	FY 2016 Dec 31, 2016 20-F ↗	FY 2015 Dec 31, 2015 20-F ↗	FY 2014 Dec 31, 2014 20-F ↗	FY 2013 Dec 31, 2013 20-F ↗	FY 2012 Dec 31, 2012 20-F ↗	FY 2011 Dec 31, 2011 20-F ↗	FY 2010 Dec 31, 2010 20-F ↗	FY 2009 Dec 31, 2009 20-F ↗	FY 2008 Dec 31, 2008 20-F ↗
Working Capital (USD)	$122.22M	$152.41M	$220.91M	$170.38M	$154.82M	$204.06M	$96.43M	$241.00M	$140.76M	$181.50M	$101.03M	$76.01M	$113.55M	$56.62M	$89.08M	$67.46M	—	—
Total Equity (USD)	$349.36M	$316.27M	$284.09M	$332.16M	$369.99M	$388.46M	$395.33M	$363.96M	$315.36M	$299.76M	$319.12M	$333.70M	$294.12M	$271.23M	$219.32M	$184.99M	$149.47M	$148.06M

📋 What is driving earnings? 4 metrics

Metric	FY 2025 Dec 31, 2025 20-F ↗	FY 2024 Dec 31, 2024 20-F ↗	FY 2023 Dec 31, 2023 20-F ↗	FY 2022 Dec 31, 2022 20-F ↗	FY 2021 Dec 31, 2021 20-F ↗	FY 2020 Dec 31, 2020 20-F ↗	FY 2019 Dec 31, 2019 20-F ↗	FY 2018 Dec 31, 2018 20-F ↗	FY 2017 Dec 31, 2017 20-F ↗	FY 2016 Dec 31, 2016 20-F ↗	FY 2015 Dec 31, 2015 20-F ↗	FY 2014 Dec 31, 2014 20-F ↗	FY 2013 Dec 31, 2013 20-F ↗	FY 2012 Dec 31, 2012 20-F ↗	FY 2011 Dec 31, 2011 20-F ↗	FY 2010 Dec 31, 2010 20-F ↗	FY 2009 Dec 31, 2009 20-F ↗	FY 2008 Dec 31, 2008 20-F ↗
Sales/Revenue/Turnover (USD)	$301.85M	$274.88M	$261.29M	$293.43M	$286.50M	$250.03M	$252.07M	$234.40M	$211.37M	$196.59M	$216.57M	$221.89M	$193.00M	$189.17M	$167.02M	$144.12M	$108.90M	—
Depreciation Expense (USD)	$11.68M	$11.84M	$12.24M	$11.69M	$10.20M	$10.56M	$11.28M	$9.78M	$11.23M	$10.37M	$9.40M	$8.10M	$8.09M	$9.87M	$10.30M	$9.05M	$9.79M	—
Net Income, GAAP (USD)	$20.26M	$6.04M	$-21.59M	$-166.00K	$7.81M	$9.64M	$22.57M	$11.73M	$-7.49M	$-8.66M	$18.57M	$24.95M	$18.05M	$31.76M	$21.34M	$9.63M	$-5.94M	—
Operating Cash Flow (USD)	$50.09M	$71.61M	$-3.50M	$32.15M	$71.77M	$63.87M	$52.85M	$49.25M	$31.46M	$38.48M	—	—	—	$51.52M	$41.99M	$40.97M	$14.43M	—

RADWARE LTD

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18-Year Financial Trajectory

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