What is Ceragon Networks Ltd's earnings per share (EPS)?

Ceragon Networks Ltd (CRNT) reported diluted earnings per share of $-0.02 for fiscal year 2025. This represents a -107.4% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Ceragon Networks Ltd Financials

CRNT

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Ceragon Networks Ltd (CRNT) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Profile 40/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Ceragon Networks Ltd's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

Ceragon Networks Ltd has an operating margin of 2.1%, meaning the company retains $2 of operating profit per $100 of revenue. This results in a moderate score of 34/100, indicating healthy but not exceptional operating efficiency. This is down from 9.8% the prior year.

Growth

Ceragon Networks Ltd's revenue declined 14.1% year-over-year, from $394.2M to $338.7M. This contraction results in a growth score of 31/100.

Leverage

Ceragon Networks Ltd carries a low D/E ratio of 0.84, meaning only $0.84 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 85/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Ceragon Networks Ltd's current ratio of 1.87 indicates adequate short-term liquidity, earning a score of 33/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow

Ceragon Networks Ltd has a free cash flow margin of 5.3%, earning a moderate score of 37/100. The company generates positive cash flow after capital investments, but with room for improvement.

Returns

Ceragon Networks Ltd generates a -1.2% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 21/100. This is down from 14.5% the prior year.

Altman Z-Score Distress

1.37

Ceragon Networks Ltd scores 1.37, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($227.2M) relative to total liabilities ($144.3M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

Piotroski F-Score Neutral

4/9

Ceragon Networks Ltd passes 4 of 9 financial strength tests. 2 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Mixed

-15.10x

For every $1 of reported earnings, Ceragon Networks Ltd generates $-15.10 in operating cash flow ($31.6M OCF vs -$2.1M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Interest Coverage At Risk

1.4x

Ceragon Networks Ltd earns $1.4 in operating income for every $1 of interest expense ($7.2M vs $5.0M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue

$338.7M

YoY-14.1%

5Y CAGR+5.2%

10Y CAGR-0.3%

Ceragon Networks Ltd generated $338.7M in revenue in fiscal year 2025. This represents a decrease of 14.1% from the prior year.

EBITDA

$21.6M

YoY-57.6%

5Y CAGR+32.5%

10Y CAGR-4.4%

Ceragon Networks Ltd's EBITDA was $21.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 57.6% from the prior year.

Net Income

-$2.1M

YoY-108.7%

Ceragon Networks Ltd reported -$2.1M in net income in fiscal year 2025. This represents a decrease of 108.7% from the prior year.

EPS (Diluted)

$-0.02

YoY-107.4%

Ceragon Networks Ltd earned $-0.02 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 107.4% from the prior year.

Cash & Balance Sheet

Free Cash Flow

$17.9M

YoY+54.5%

5Y CAGR+10.0%

10Y CAGR+5.2%

Ceragon Networks Ltd generated $17.9M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 54.5% from the prior year.

Cash & Debt

$38.4M

YoY+8.7%

5Y CAGR+7.2%

10Y CAGR+0.6%

Ceragon Networks Ltd held $38.4M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

88M

YoY+0.0%

5Y CAGR+1.6%

10Y CAGR+1.3%

Ceragon Networks Ltd had 88M shares outstanding in fiscal year 2025. This represents an increase of 0.0% from the prior year.

Margins & Returns

Gross Margin

33.8%

YoY-0.9pp

5Y CAGR+5.0pp

10Y CAGR+4.4pp

Ceragon Networks Ltd's gross margin was 33.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 0.9 percentage points from the prior year.

Operating Margin

2.1%

YoY-7.7pp

5Y CAGR+5.0pp

10Y CAGR-4.0pp

Ceragon Networks Ltd's operating margin was 2.1% in fiscal year 2025, reflecting core business profitability. This is down 7.7 percentage points from the prior year.

Net Margin

-0.6%

YoY-6.7pp

5Y CAGR+5.9pp

10Y CAGR-0.9pp

Ceragon Networks Ltd's net profit margin was -0.6% in fiscal year 2025, showing the share of revenue converted to profit. This is down 6.7 percentage points from the prior year.

Return on Equity

-1.2%

YoY-15.7pp

5Y CAGR+10.5pp

10Y CAGR-2.2pp

Ceragon Networks Ltd's ROE was -1.2% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 15.7 percentage points from the prior year.

Capital Allocation

R&D Spending

$30.4M

YoY-12.9%

5Y CAGR-0.4%

10Y CAGR+2.9%

Ceragon Networks Ltd invested $30.4M in research and development in fiscal year 2025. This represents a decrease of 12.9% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$13.6M

YoY-6.7%

5Y CAGR+17.5%

10Y CAGR+10.0%

Ceragon Networks Ltd invested $13.6M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 6.7% from the prior year.

CRNT Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$338.7M-14.1%	$394.2M+13.5%	$347.2M+17.6%	$295.2M+1.5%	$290.8M+10.6%	$262.9M
Cost of Revenue	$224.2M-12.9%	$257.3M+13.2%	$227.3M+12.5%	$202.1M-0.1%	$202.4M+8.1%	$187.2M
Gross Profit	$114.6M-16.3%	$136.9M+14.2%	$119.9M+28.8%	$93.1M+5.3%	$88.4M+16.8%	$75.6M
R&D Expenses	$30.4M-12.9%	$35.0M+8.3%	$32.3M+8.7%	$29.7M+0.7%	$29.5M-4.9%	$31.0M
SG&A Expenses	$24.4M+71.5%	$14.2M-40.2%	$23.8M-30.6%	$34.3M+66.6%	$20.6M+7.2%	$19.2M
Operating Income	$7.2M-81.3%	$38.7M+82.6%	$21.2M+293.9%	-$10.9M-327.6%	$4.8M+163.5%	-$7.6M
Interest Expense	$5.0M-15.7%	$6.0M-20.7%	$7.5M+50.3%	$5.0M+7.9%	$4.7M+12.6%	$4.1M
Income Tax	$2.8M-12.3%	$3.2M-51.1%	$6.5M+166.6%	$2.4M-77.8%	$11.0M+320.5%	$2.6M
Net Income	-$2.1M-108.7%	$24.1M+286.9%	$6.2M+131.6%	-$19.7M-32.8%	-$14.8M+13.2%	-$17.1M
EPS (Diluted)	$-0.02-107.4%	$0.27+285.7%	$0.07+130.4%	$-0.23-27.8%	$-0.18+14.3%	$-0.21

Metric	Q4'25	Q2'25	Q4'24	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

CRNT Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$317.0M-8.1%	$345.0M+15.6%	$298.5M+3.2%	$289.3M-1.1%	$292.6M+7.4%	$272.4M
Current Assets	$225.2M-13.7%	$261.0M+19.8%	$217.9M+3.4%	$210.7M+3.6%	$203.5M+1.8%	$199.9M
Cash & Equivalents	$38.4M+8.7%	$35.3M+25.1%	$28.2M+23.0%	$22.9M+34.4%	$17.1M-37.0%	$27.1M
Inventory	$61.6M+3.2%	$59.7M-13.3%	$68.8M-4.4%	$72.0M+17.3%	$61.4M+21.3%	$50.6M
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$11.0M+42.0%	$7.7M0.0%	$7.7M	$0	N/A	N/A
Total Liabilities	$144.3M-19.2%	$178.7M+8.6%	$164.5M-3.0%	$169.5M+9.1%	$155.4M+23.1%	$126.3M
Current Liabilities	$120.2M-20.6%	$151.4M+13.9%	$133.0M+0.1%	$132.8M+14.8%	$115.7M+15.2%	$100.4M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$172.8M+3.9%	$166.3M+24.1%	$134.0M+11.9%	$119.8M-12.7%	$137.2M-6.1%	$146.1M
Retained Earnings	-$253.2M-0.8%	-$251.1M+8.7%	-$275.2M+2.2%	-$281.4M-7.5%	-$261.7M-6.0%	-$246.9M

Metric	Q4'25	Q2'25	Q4'24	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22
Total Assets	$317.0M-3.5%	$328.4M-4.8%	$345.0M+15.4%	$299.0M+0.2%	$298.5M+1.4%	$294.5M+1.8%	$289.3M-5.1%	$305.0M
Current Assets	$225.2M-3.8%	$234.2M-10.3%	$261.0M+20.7%	$216.3M-0.8%	$217.9M+1.0%	$215.8M+2.4%	$210.7M-3.2%	$217.8M
Cash & Equivalents	$38.4M+31.3%	$29.2M-17.3%	$35.3M+34.2%	$26.3M-6.8%	$28.2M+15.1%	$24.5M+6.9%	$22.9M-2.7%	$23.6M
Inventory	$61.6M+2.7%	$59.9M+0.4%	$59.7M+0.3%	$59.5M-13.5%	$68.8M+1.4%	$67.8M-5.8%	$72.0M+18.6%	$60.7M
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$11.0M-0.4%	$11.0M+42.5%	$7.7M0.0%	$7.7M0.0%	$7.7M	N/A	$0	N/A
Total Liabilities	$144.3M-7.9%	$156.6M-12.3%	$178.7M+14.9%	$155.5M-5.5%	$164.5M-2.1%	$168.1M-0.9%	$169.5M-2.0%	$173.0M
Current Liabilities	$120.2M-4.5%	$125.9M-16.9%	$151.4M+18.9%	$127.3M-4.2%	$133.0M+0.5%	$132.2M-0.5%	$132.8M-2.1%	$135.7M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$172.8M+0.6%	$171.8M+3.3%	$166.3M+15.9%	$143.5M+7.1%	$134.0M+6.0%	$126.4M+5.5%	$119.8M-9.2%	$132.0M
Retained Earnings	-$253.2M+0.1%	-$253.4M-0.9%	-$251.1M+5.9%	-$267.0M+3.0%	-$275.2M+0.8%	-$277.4M+1.4%	-$281.4M-6.0%	-$265.5M

CRNT Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$31.6M+20.5%	$26.2M-15.2%	$30.9M+731.0%	-$4.9M+67.4%	-$15.0M-187.1%	$17.2M
Capital Expenditures	$13.6M-6.7%	$14.6M+46.5%	$10.0M-4.9%	$10.5M+11.5%	$9.4M+54.4%	$6.1M
Free Cash Flow	$17.9M+54.5%	$11.6M-44.5%	$20.9M+236.3%	-$15.4M+37.1%	-$24.4M-318.5%	$11.2M
Investing Cash Flow	-$24.0M-45.8%	-$16.5M+21.1%	-$20.9M-68.0%	-$12.4M-32.2%	-$9.4M-44.8%	-$6.5M
Financing Cash Flow	-$5.5M-262.0%	-$1.5M+68.7%	-$4.9M-121.0%	$23.1M+59.1%	$14.5M+296.8%	-$7.4M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q2'25	Q4'24	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22
Operating Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

CRNT Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	33.8%-0.9pp	34.7%+0.2pp	34.5%+3.0pp	31.5%+1.1pp	30.4%+1.6pp	28.8%
Operating Margin	2.1%-7.7pp	9.8%+3.7pp	6.1%+9.8pp	-3.7%-5.4pp	1.7%+4.5pp	-2.9%
Net Margin	-0.6%-6.7pp	6.1%+4.3pp	1.8%+8.5pp	-6.7%-1.6pp	-5.1%+1.4pp	-6.5%
Return on Equity	-1.2%-15.7pp	14.5%+9.8pp	4.6%+21.1pp	-16.4%-5.6pp	-10.8%+0.9pp	-11.7%
Return on Assets	-0.7%-7.6pp	7.0%+4.9pp	2.1%+8.9pp	-6.8%-1.7pp	-5.1%+1.2pp	-6.3%
Current Ratio	1.87+0.1	1.72+0.1	1.64+0.1	1.59-0.2	1.76-0.2	1.99
Debt-to-Equity	0.84-0.2	1.07-0.2	1.23-0.2	1.42+0.3	1.13+0.3	0.86
FCF Margin	5.3%+2.4pp	2.9%-3.1pp	6.0%+11.2pp	-5.2%+3.2pp	-8.4%-12.6pp	4.3%

Metric	Q4'25	Q2'25	Q4'24	Q2'24	Q4'23	Q2'23	Q4'22	Q2'22
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Current Ratio	1.87+0.0	1.86+0.1	1.72+0.0	1.70+0.1	1.640.0	1.63+0.0	1.59-0.0	1.61
Debt-to-Equity	0.84-0.1	0.91-0.2	1.070.0	1.08-0.1	1.23-0.1	1.33-0.1	1.42+0.1	1.31
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is Ceragon Networks Ltd's annual revenue?

Ceragon Networks Ltd (CRNT) reported $338.7M in total revenue for fiscal year 2025. This represents a -14.1% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Ceragon Networks Ltd's revenue growing?

Ceragon Networks Ltd (CRNT) revenue declined by 14.1% year-over-year, from $394.2M to $338.7M in fiscal year 2025.

Is Ceragon Networks Ltd profitable?

No, Ceragon Networks Ltd (CRNT) reported a net income of -$2.1M in fiscal year 2025, with a net profit margin of -0.6%.

What is Ceragon Networks Ltd's EBITDA?

Ceragon Networks Ltd (CRNT) had EBITDA of $21.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is Ceragon Networks Ltd's gross margin?

Ceragon Networks Ltd (CRNT) had a gross margin of 33.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Ceragon Networks Ltd's operating margin?

Ceragon Networks Ltd (CRNT) had an operating margin of 2.1% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Ceragon Networks Ltd's net profit margin?

Ceragon Networks Ltd (CRNT) had a net profit margin of -0.6% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Ceragon Networks Ltd's return on equity (ROE)?

Ceragon Networks Ltd (CRNT) has a return on equity of -1.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Ceragon Networks Ltd's free cash flow?

Ceragon Networks Ltd (CRNT) generated $17.9M in free cash flow during fiscal year 2025. This represents a 54.5% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Ceragon Networks Ltd's operating cash flow?

Ceragon Networks Ltd (CRNT) generated $31.6M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Ceragon Networks Ltd's total assets?

Ceragon Networks Ltd (CRNT) had $317.0M in total assets as of fiscal year 2025, including both current and long-term assets.

What are Ceragon Networks Ltd's capital expenditures?

Ceragon Networks Ltd (CRNT) invested $13.6M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Ceragon Networks Ltd spend on research and development?

Ceragon Networks Ltd (CRNT) invested $30.4M in research and development during fiscal year 2025.

How many shares does Ceragon Networks Ltd have outstanding?

Ceragon Networks Ltd (CRNT) had 88M shares outstanding as of fiscal year 2025.

What is Ceragon Networks Ltd's current ratio?

Ceragon Networks Ltd (CRNT) had a current ratio of 1.87 as of fiscal year 2025, which is generally considered healthy.

What is Ceragon Networks Ltd's debt-to-equity ratio?

Ceragon Networks Ltd (CRNT) had a debt-to-equity ratio of 0.84 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Ceragon Networks Ltd's return on assets (ROA)?

Ceragon Networks Ltd (CRNT) had a return on assets of -0.7% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Ceragon Networks Ltd's Altman Z-Score?

Ceragon Networks Ltd (CRNT) has an Altman Z-Score of 1.37, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is Ceragon Networks Ltd's Piotroski F-Score?

Ceragon Networks Ltd (CRNT) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Ceragon Networks Ltd's earnings high quality?

Ceragon Networks Ltd (CRNT) has an earnings quality ratio of -15.10x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Ceragon Networks Ltd cover its interest payments?

Ceragon Networks Ltd (CRNT) has an interest coverage ratio of 1.4x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Ceragon Networks Ltd?

Ceragon Networks Ltd (CRNT) scores 40 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.