CALX - Calix, Inc.
Price:
--
--
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CONSENSUS:
Buy
DETAILS
|
PRICE TARGET:
$61.00
DETAILS
HIGH:
$62.00
LOW:
$60.00
MEDIAN:
$61.00
CONSENSUS:
$61.00
UPSIDE:
55.49%
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | |||||||||||||||||||
| Revenue | 1,000.0 | 831.5 | 1,039.6 | 867.8 | 679.4 | 541.2 | 424.3 | 441.3 | 510.4 | 458.8 | 407.5 | 401.2 | 382.6 | 330.2 | 344.7 | 287.0 | 232.9 | 250.5 | 193.8 |
| Cost of Revenue | 431.7 | 377.9 | 521.3 | 432.4 | 322.8 | 274.2 | 236.4 | 243.9 | 337.5 | 257.6 | 217.0 | 223.4 | 211.5 | 192.6 | 225.2 | 174.3 | 156.3 | 171.4 | 133.5 |
| Gross Profit | 568.3 | 453.6 | 518.3 | 435.4 | 356.6 | 267.0 | 187.9 | 197.4 | 172.9 | 201.2 | 190.4 | 177.8 | 171.1 | 137.6 | 119.5 | 112.7 | 76.6 | 79.1 | 60.4 |
| Operating Expenses | |||||||||||||||||||
| R&D Expenses | 190.4 | 179.9 | 177.8 | 132.0 | 101.7 | 85.3 | 81.2 | 90.0 | 127.5 | 106.9 | 89.7 | 80.3 | 79.3 | 66.7 | 67.7 | 55.4 | 46.1 | 44.3 | 44.4 |
| SG&A Expenses | 357.0 | 316.8 | 315.0 | 250.8 | 181.7 | 138.6 | 119.7 | 126.9 | 122.7 | 125.3 | 117.0 | 106.4 | 100.0 | 88.2 | 82.6 | 70.1 | 49.1 | 46.9 | 40.5 |
| Other Expenses | 0 | 0 | 0 | 0 | (0.8) | 6.3 | 2.5 | (1.0) | 4.2 | (2.8) | 10.2 | 10.2 | 10.2 | 11.6 | 21.5 | 4.7 | 0.7 | 0.7 | 0.7 |
| Operating Expenses | 547.3 | 496.6 | 492.7 | 382.8 | 282.6 | 230.2 | 203.3 | 215.9 | 254.4 | 229.3 | 216.9 | 198.2 | 189.5 | 166.6 | 171.8 | 130.2 | 96.0 | 92.0 | 85.7 |
| Operating Income | |||||||||||||||||||
| Operating Income | 21.0 | (43.0) | 25.6 | 52.6 | 73.9 | 36.8 | (15.4) | (18.5) | (81.6) | (28.1) | (26.5) | (20.4) | (18.5) | (29.0) | (52.3) | (17.5) | (19.3) | (12.9) | (25.4) |
| Interest Expense | 0 | 0 | 0 | 0 | 0.4 | 1.6 | 1.0 | 0.6 | 0.2 | 0.6 | 1.1 | 0.8 | 0.2 | 0.2 | 0.2 | 1.2 | 3.9 | 2.1 | 2.3 |
| Interest Income | 13.4 | 12.3 | 9.7 | 2.0 | 0 | 0 | 0 | 0 | 0 | 0.7 | 1.3 | 0.7 | 0.0 | 0.0 | 0.1 | 0.4 | 0.2 | 0.6 | 1.1 |
| Profitability | |||||||||||||||||||
| EBITDA | 51.9 | (23.5) | 42.2 | 66.9 | 88.1 | 49.6 | (5.3) | (8.9) | (66.3) | (18.5) | 2.3 | 8.4 | 11.6 | (1.7) | (26.1) | (6.1) | (7.8) | 0.7 | (10.1) |
| EBIT | 34.2 | (43.0) | 25.6 | 52.6 | 73.1 | 35.9 | (15.6) | (18.1) | (77.3) | (32.6) | (26.5) | (19.4) | (17.1) | (28.0) | (52.1) | (17.3) | (18.9) | (10.9) | (22.5) |
| Income Before Tax | 34.2 | (31.6) | 34.8 | 54.0 | 72.7 | 34.3 | (16.5) | (18.8) | (81.8) | (27.1) | (25.8) | (20.2) | (17.3) | (28.2) | (52.3) | (18.5) | (22.8) | (13) | (24.8) |
| Income Tax Expense | 16.3 | (1.9) | 5.4 | 13.0 | (165.7) | 0.8 | 1.2 | 0.5 | 1.2 | 0.3 | 0.5 | 0.6 | (0.0) | 0.2 | 0.2 | 0.1 | (0.4) | (0.1) | 0.1 |
| Net Income | 17.9 | (29.7) | 29.3 | 41.0 | 238.4 | 33.5 | (17.7) | (19.3) | (83.0) | (27.4) | (26.3) | (20.8) | (17.3) | (28.3) | (52.5) | (18.6) | (22.4) | (12.9) | (24.9) |
| Per Share Data | |||||||||||||||||||
| EPS (Basic) | 0.27 | -0.45 | 0.44 | 0.63 | 3.77 | 0.57 | -0.32 | -0.37 | -1.66 | -0.56 | -0.51 | -0.38 | -0.35 | -0.59 | -1.15 | -0.62 | -5.55 | -3.25 | -6.17 |
| EPS (Diluted) | 0.26 | -0.45 | 0.42 | 0.60 | 3.51 | 0.54 | -0.32 | -0.37 | -1.66 | -0.56 | -0.51 | -0.38 | -0.35 | -0.59 | -1.15 | -0.62 | -5.55 | -3.25 | -6.17 |
| Shares Outstanding | 66.8 | 65.9 | 66.0 | 65.1 | 63.3 | 59.1 | 55.0 | 52.2 | 50.2 | 48.7 | 51.5 | 50.8 | 49.4 | 48.2 | 45.5 | 29.8 | 4.0 | 4.0 | 4.0 |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2009 | 2008 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Assets | ||||||||||||
| Cash & Cash Equivalents | 143.1 | 43.2 | 63.4 | 79.1 | 51.3 | 80.8 | 46.8 | 49.6 | 39.8 | 50.4 | 31.8 | 23.2 |
| Short-Term Investments | 245.0 | 253.9 | 156.9 | 162.6 | 153.0 | 53.0 | 0 | 0 | 0 | 27.7 | 36.2 | 0 |
| Net Receivables | 99.4 | 79.3 | 126.0 | 93.8 | 85.2 | 69.4 | 46.5 | 67.0 | 80.4 | 51.3 | 47.0 | 32.8 |
| Inventory | 133.7 | 102.7 | 133.0 | 149.2 | 88.9 | 52.3 | 40.2 | 50.2 | 31.5 | 44.5 | 18.6 | 23.4 |
| Other Current Assets | 70.3 | 105.6 | 78.1 | 62.7 | 0 | 0 | 0.6 | 0.6 | 0 | 34.8 | 17.1 | 19.1 |
| Total Current Assets | 691.6 | 584.7 | 598.0 | 547.4 | 409.2 | 266.9 | 143.8 | 174.8 | 162.5 | 219.3 | 154.7 | 100.7 |
| Non-Current Assets | ||||||||||||
| Property, Plant & Equipment | 52.5 | 37.4 | 38.7 | 35.1 | 34.0 | 32.1 | 37.4 | 24.9 | 15.7 | 18.0 | 11.3 | 9.9 |
| Goodwill | 116.2 | 116.2 | 116.2 | 116.2 | 116.2 | 116.2 | 116.2 | 116.2 | 116.2 | 116.2 | 65.6 | 65.6 |
| Intangible Assets | 0 | 0 | 0 | 0 | 6.9 | 9.5 | 12.1 | 0 | 0 | 0.8 | 6.7 | 12.9 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 32.7 | 23.4 | 21.3 | 19.1 | 6.8 | 2.6 | 7.3 | 1.2 | 0.8 | 1.2 | 2.8 | 0.4 |
| Total Non-Current Assets | 367.0 | 354.5 | 343.9 | 337.5 | 332.8 | 160.5 | 173.0 | 142.3 | 132.6 | 136.2 | 86.4 | 88.8 |
| Total Assets | 1,058.5 | 939.3 | 941.9 | 884.8 | 742.0 | 427.4 | 316.8 | 317.1 | 295.1 | 355.5 | 241.1 | 189.5 |
| Current Liabilities | ||||||||||||
| Account Payables | 41.5 | 20.2 | 34.7 | 41.4 | 29.1 | 13.1 | 10.8 | 40.2 | 36.0 | 23.8 | 14.6 | 18.5 |
| Short-Term Debt | 0 | 0 | 0 | 11.2 | 4.7 | 2.9 | 30 | 30 | 30 | 0 | 3.3 | 0 |
| Deferred Revenue | 30.4 | 26.8 | 36.7 | 33.5 | 32.2 | 27.6 | 24.4 | 15.6 | 13.1 | 27.9 | 29.9 | 24.2 |
| Other Current Liabilities | 91.3 | 43.9 | 75.3 | 51.5 | 18.4 | 20.8 | 19.0 | 38.1 | 33.7 | 49.9 | 0 | 0.2 |
| Total Current Liabilities | 163.2 | 131.1 | 187.6 | 165.4 | 128.1 | 101.0 | 115.5 | 143.7 | 128.3 | 121.4 | 76.5 | 59.3 |
| Non-Current Liabilities | ||||||||||||
| Long-Term Debt | 12.8 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 16.7 | 21 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 426.4 |
| Other Non-Current Liabilities | (9.3) | 2.6 | 3.0 | 6.3 | 11.1 | 13.1 | 14.6 | 4.0 | 1.1 | 0.9 | 0.9 | 0.6 |
| Total Non-Current Liabilities | 36.1 | 27.2 | 35.2 | 39.8 | 45.5 | 46.0 | 47.3 | 21.5 | 21.8 | 21.1 | 24.1 | 452.6 |
| Total Liabilities | 199.3 | 158.3 | 222.9 | 205.3 | 173.6 | 147.0 | 162.8 | 165.1 | 150.1 | 142.5 | 100.7 | 511.9 |
| Stockholders' Equity | ||||||||||||
| Common Stock | 1.7 | 1.7 | 1.6 | 1.6 | 1.6 | 1.6 | 1.5 | 1.5 | 1.4 | 1.4 | 0.8 | 0.3 |
| Retained Earnings | (372.2) | (390.1) | (360.4) | (389.7) | (430.7) | (669.1) | (702.6) | (684.9) | (667.4) | (584.3) | (392.2) | (366.0) |
| Accumulated Other Comprehensive Income | (0.4) | (0.6) | (0.7) | (2.5) | (0.3) | (0.2) | (0.9) | (0.8) | (0.2) | (0.7) | (0.0) | 0 |
| Total Stockholders' Equity | 859.2 | 780.9 | 719.0 | 679.6 | 568.4 | 280.3 | 154.0 | 151.9 | 145.0 | 213.0 | 140.5 | (322.4) |
| Total Liabilities & Equity | 1,058.5 | 939.3 | 941.9 | 884.8 | 742.0 | 427.4 | 316.8 | 317.1 | 295.1 | 355.5 | 241.1 | 189.5 |
| Debt Metrics | ||||||||||||
| Total Debt | 25.5 | 8.0 | 11.6 | 19.6 | 20.7 | 18.9 | 47 | 30 | 30 | 0 | 20 | 21 |
| Net Debt | (117.6) | (35.1) | (51.8) | (59.5) | (30.6) | (61.9) | 0.2 | (19.6) | (9.8) | (50.4) | (11.8) | (2.2) |
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||||
| Net Income | 17.9 | (29.7) | 29.3 | 41.0 | 238.4 | 33.5 | (17.7) | (19.3) | (83.0) | (27.4) |
| Depreciation & Amortization | 17.7 | 19.6 | 16.6 | 14.3 | 15.0 | 13.7 | 10.3 | 9.2 | 11.0 | 14.1 |
| Stock-Based Compensation | 87.9 | 70.8 | 62.8 | 44.8 | 24.2 | 14.0 | 11.2 | 17.5 | 12.4 | 14.3 |
| Change in Working Capital | 3.3 | 23.1 | (47.6) | (73.8) | (52.4) | (13.7) | (1.8) | 2.6 | (3.4) | 23.0 |
| Other Non-Cash Items | (3.7) | (5.3) | (4.2) | (1.1) | 0 | 3.9 | 2.6 | (6.4) | 0.3 | 0.4 |
| Operating Cash Flow | 135.0 | 68.4 | 56.3 | 27.2 | 56.8 | 51.4 | 4.7 | 3.6 | (62.8) | 24.4 |
| Investing Activities | ||||||||||
| Capital Expenditure | (19.4) | (18.1) | (17.9) | (14.1) | (10.5) | (7.8) | (13.4) | (10.4) | (8.0) | (9.8) |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 53.0 | 0 | 10.3 | 0 | 0 |
| Purchases of Investments | (220.8) | (301.7) | (216.2) | (191.4) | (298.1) | (73.0) | 0 | 0 | (8.7) | (16.5) |
| Sales/Maturities of Investments | 233.9 | 210.2 | 227.8 | 181.4 | 197.9 | 20 | 0 | 0 | 36.5 | 38.4 |
| Other Investing Activities | 0 | 0 | 0 | 0 | 0 | (53.0) | 0 | 10.3 | 27.8 | 21.9 |
| Investing Cash Flow | (6.4) | (109.5) | (6.2) | (24.1) | (110.7) | (60.8) | (13.4) | (0.1) | 19.7 | 12.1 |
| Financing Activities | ||||||||||
| Net Debt Issuance | 0 | 0 | 0 | (2.4) | (1.2) | (5.8) | 0 | 0 | 30 | 0 |
| Stock Repurchased | (93.6) | (10.7) | (86.4) | 0 | 0 | 0 | 0 | (0.1) | (2.8) | (12.8) |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing Activities | 0 | 31.6 | 20.5 | 0 | 0 | (12.2) | 6.0 | 7.5 | 2.0 | 5.7 |
| Financing Cash Flow | (28.4) | 20.9 | (65.9) | 25.1 | 24.4 | 42.1 | 6.0 | 7.5 | 32.0 | (9.2) |
| Cash Position | ||||||||||
| Net Change in Cash | 99.9 | (20.2) | (15.7) | 27.7 | (29.5) | 33.4 | (2.8) | 10.5 | (10.6) | 26.7 |
| Cash at Beginning | 43.2 | 63.4 | 79.1 | 51.3 | 80.8 | 47.5 | 50.3 | 39.8 | 50.4 | 23.6 |
| Cash at End | 143.1 | 43.2 | 63.4 | 79.1 | 51.3 | 80.8 | 47.5 | 50.3 | 39.8 | 50.4 |
| Free Cash Flow | 115.5 | 50.3 | 38.4 | 13.1 | 46.3 | 43.6 | (8.7) | (6.9) | (70.8) | 14.6 |
| Key Metrics | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||||||||
| Revenue | 1,000.0 | 831.5 | 1,039.6 | 867.8 | 679.4 | 541.2 | 424.3 | 441.3 | 510.4 | 458.8 | 407.5 | 401.2 | 382.6 | 330.2 | 344.7 | 287.0 | 232.9 | 250.5 | 193.8 |
| Gross Profit | 568.3 | 453.6 | 518.3 | 435.4 | 356.6 | 267.0 | 187.9 | 197.4 | 172.9 | 201.2 | 190.4 | 177.8 | 171.1 | 137.6 | 119.5 | 112.7 | 76.6 | 79.1 | 60.4 |
| Operating Income | 21.0 | (43.0) | 25.6 | 52.6 | 73.9 | 36.8 | (15.4) | (18.5) | (81.6) | (28.1) | (26.5) | (20.4) | (18.5) | (29.0) | (52.3) | (17.5) | (19.3) | (12.9) | (25.4) |
| Net Income | 17.9 | (29.7) | 29.3 | 41.0 | 238.4 | 33.5 | (17.7) | (19.3) | (83.0) | (27.4) | (26.3) | (20.8) | (17.3) | (28.3) | (52.5) | (18.6) | (22.4) | (12.9) | (24.9) |
| EPS (Diluted) | 0.26 | -0.45 | 0.42 | 0.60 | 3.51 | 0.54 | -0.32 | -0.37 | -1.66 | -0.56 | -0.51 | -0.38 | -0.35 | -0.59 | -1.15 | -0.62 | -5.55 | -3.25 | -6.17 |
| Balance Sheet | |||||||||||||||||||
| Cash & Equivalents | 143.1 | 43.2 | 63.4 | 79.1 | 51.3 | 80.8 | 46.8 | 49.6 | 39.8 | 50.4 | 31.8 | 23.2 | |||||||
| Total Assets | 1,058.5 | 939.3 | 941.9 | 884.8 | 742.0 | 427.4 | 316.8 | 317.1 | 295.1 | 355.5 | 241.1 | 189.5 | |||||||
| Total Debt | 25.5 | 8.0 | 11.6 | 19.6 | 20.7 | 18.9 | 47 | 30 | 30 | 0 | 20 | 21 | |||||||
| Stockholders' Equity | 859.2 | 780.9 | 719.0 | 679.6 | 568.4 | 280.3 | 154.0 | 151.9 | 145.0 | 213.0 | 140.5 | (322.4) | |||||||
| Cash Flow | |||||||||||||||||||
| Operating Cash Flow | 135.0 | 68.4 | 56.3 | 27.2 | 56.8 | 51.4 | 4.7 | 3.6 | (62.8) | 24.4 | |||||||||
| Capital Expenditure | (19.4) | (18.1) | (17.9) | (14.1) | (10.5) | (7.8) | (13.4) | (10.4) | (8.0) | (9.8) | |||||||||
| Free Cash Flow | 115.5 | 50.3 | 38.4 | 13.1 | 46.3 | 43.6 | (8.7) | (6.9) | (70.8) | 14.6 | |||||||||