Calix, Inc. (CALX) 10-Year Financial Performance & Capital Metrics

CALX • • Industrial / General

TechnologyApplication SoftwareDesign & Engineering SoftwareInfrastructure Design

AboutCalix, Inc., together with its subsidiaries, provides cloud and software platforms, and systems and services in the United States, rest of Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company's cloud and software platforms, and systems and services enable broadband service providers (BSPs) to provide a range of services. It provides Calix Cloud platform, a role-based analytics platform comprising Calix Marketing Cloud, Calix Support Cloud, and Calix Operations Cloud, which are configurable to display role-based insights and enable BSPs to anticipate and target new revenue-generating services and applications through mobile application. The company also offers EXOS, a carrier class premises operating system and fully integrated with its GigaSpire family of systems to be ready for deployment as a complete subscriber experience solutions for BSP's residential and business subscribers; and AXOS, a software platform to access edge of the network by its architecture and operations. It offers its products through its direct sales force and resellers. Calix, Inc. was incorporated in 1999 and is headquartered in San Jose, California.Show more

Revenue $832M -20.0%
EBITDA -$23M -155.6%
Net Income -$30M -201.4%
EPS (Diluted) -0.45 -207.1%
Gross Margin 54.55% +9.4%
EBITDA Margin -2.82% -169.5%
Operating Margin -5.18% -310.3%
Net Margin -3.58% -226.8%
ROE -3.97% -194.6%
ROIC -4.57% -253.2%
Debt/Equity 0.01 -36.1%
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓Strong 5Y sales CAGR of 14.4%
✓Share count reduced 5.0% through buybacks

✗Weaknesses

✗Weak 3Y average ROE of 2.3%

Price & Volume

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Growth Metrics

Revenue CAGR

10Y7.56%

5Y14.4%

3Y6.97%

TTM4.89%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM60.63%

EPS CAGR

10Y-

5Y-

3Y-

TTM56.36%

ROCE

10Y Avg-4.53%

5Y Avg7.11%

3Y Avg1.95%

Latest-5.51%

Peer Comparison

Infrastructure Design

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
BSYBentley Systems, Incorporated	11.41B	39.07	54.26	10.15%	18.45%	22.53%	3.69%	1.37
PCORProcore Technologies, Inc.	11.02B	70.90	-98.47	21.23%	-9.84%	-10.25%	1.61%	0.06
CALXCalix, Inc.	3.91B	59.04	-131.20	-20.02%	-0.78%	-0.88%	1.29%	0.01

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	407.46M	458.79M	510.37M	441.32M	424.33M	541.24M	679.39M	867.83M	1.04B	831.52M
Revenue Growth %	0.02%	0.13%	0.11%	-0.14%	-0.04%	0.28%	0.26%	0.28%	0.2%	-0.2%
Cost of Goods Sold+	217.03M	257.57M	337.48M	243.94M	236.41M	274.22M	322.81M	432.4M	521.28M	377.92M
COGS % of Revenue	0.53%	0.56%	0.66%	0.55%	0.56%	0.51%	0.48%	0.5%	0.5%	0.45%
Gross Profit+	190.43M	201.22M	172.89M	197.38M	187.93M	267.02M	356.59M	435.43M	518.32M	453.59M
Gross Margin %	0.47%	0.44%	0.34%	0.45%	0.44%	0.49%	0.52%	0.5%	0.5%	0.55%
Gross Profit Growth %	0.07%	0.06%	-0.14%	0.14%	-0.05%	0.42%	0.34%	0.22%	0.19%	-0.12%
Operating Expenses+	216.94M	229.34M	254.45M	215.9M	203.33M	230.17M	282.65M	382.82M	492.73M	496.63M
OpEx % of Revenue	0.53%	0.5%	0.5%	0.49%	0.48%	0.43%	0.42%	0.44%	0.47%	0.6%
Selling, General & Admin	117.02M	125.27M	122.66M	126.93M	119.67M	138.63M	181.69M	250.82M	314.96M	316.76M
SG&A % of Revenue	0.29%	0.27%	0.24%	0.29%	0.28%	0.26%	0.27%	0.29%	0.3%	0.38%
Research & Development	89.71M	106.87M	127.54M	89.96M	81.18M	85.26M	101.75M	131.99M	177.77M	179.87M
R&D % of Revenue	0.22%	0.23%	0.25%	0.2%	0.19%	0.16%	0.15%	0.15%	0.17%	0.22%
Other Operating Expenses	10.21M	-2.8M	4.25M	-999K	2.47M	6.29M	-786K	0	0	0
Operating Income+	-26.51M	-28.12M	-81.56M	-18.51M	-15.4M	36.85M	73.94M	52.61M	25.59M	-43.03M
Operating Margin %	-0.07%	-0.06%	-0.16%	-0.04%	-0.04%	0.07%	0.11%	0.06%	0.02%	-0.05%
Operating Income Growth %	-0.3%	-0.06%	-1.9%	0.77%	0.17%	3.39%	1.01%	-0.29%	-0.51%	-2.68%
EBITDA+	2.31M	-13.99M	-70.56M	-9.33M	-5.08M	50.56M	88.95M	66.92M	42.22M	-23.48M
EBITDA Margin %	0.01%	-0.03%	-0.14%	-0.02%	-0.01%	0.09%	0.13%	0.08%	0.04%	-0.03%
EBITDA Growth %	-0.69%	-7.05%	-4.04%	0.87%	0.45%	10.94%	0.76%	-0.25%	-0.37%	-1.56%
D&A (Non-Cash Add-back)	28.82M	14.12M	10.99M	9.19M	10.32M	13.72M	15.01M	14.31M	16.63M	19.55M
EBIT	-26.51M	-32.62M	-77.31M	-18.14M	-15.57M	35.87M	73.06M	52.61M	25.59M	-43.03M
Net Interest Income+	141K	152K	-160K	-632K	-958K	-1.58M	-402K	2.01M	9.7M	12.34M
Interest Income	1.28M	737K	0	0	0	0	0	2.01M	9.7M	12.34M
Interest Expense	1.14M	585K	160K	632K	958K	1.58M	402K	0	0	0
Other Income/Expense	712K	1.06M	-233K	-254K	-1.13M	-2.56M	-1.28M	1.43M	9.17M	11.39M
Pretax Income+	-25.8M	-27.05M	-81.79M	-18.77M	-16.53M	34.28M	72.65M	54.04M	34.76M	-31.65M
Pretax Margin %	-0.06%	-0.06%	-0.16%	-0.04%	-0.04%	0.06%	0.11%	0.06%	0.03%	-0.04%
Income Tax+	535K	347K	1.24M	530K	1.16M	800K	-165.72M	13.03M	5.43M	-1.9M
Effective Tax Rate %	1.02%	1.01%	1.02%	1.03%	1.07%	0.98%	3.28%	0.76%	0.84%	0.94%
Net Income+	-26.33M	-27.4M	-83.03M	-19.3M	-17.69M	33.48M	238.38M	41.01M	29.32M	-29.75M
Net Margin %	-0.06%	-0.06%	-0.16%	-0.04%	-0.04%	0.06%	0.35%	0.05%	0.03%	-0.04%
Net Income Growth %	-0.27%	-0.04%	-2.03%	0.77%	0.08%	2.89%	6.12%	-0.83%	-0.28%	-2.01%
Net Income (Continuing)	-26.33M	-27.4M	-83.03M	-19.3M	-17.69M	33.48M	238.38M	41.01M	29.32M	-29.75M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-0.51	-0.56	-1.66	-0.37	-0.32	0.54	3.51	0.60	0.42	-0.45
EPS Growth %	-0.34%	-0.1%	-1.96%	0.78%	0.14%	2.69%	5.5%	-0.83%	-0.3%	-2.07%
EPS (Basic)	-0.51	-0.56	-1.66	-0.37	-0.32	0.57	3.77	0.63	0.44	-0.45
Diluted Shares Outstanding	51.49M	48.73M	50.16M	52.61M	54.99M	62M	67.86M	68.91M	69.32M	65.88M
Basic Shares Outstanding	51.49M	48.73M	50.16M	52.16M	54.99M	59.07M	63.28M	65.06M	65.98M	65.88M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	182.8M	219.32M	162.46M	174.76M	143.82M	266.89M	409.25M	547.37M	597.96M	584.74M
Cash & Short-Term Investments	73.59M	78.11M	39.77M	49.65M	46.83M	133.79M	204.34M	241.72M	220.35M	297.09M
Cash Only	23.63M	50.36M	39.77M	49.65M	46.83M	80.81M	51.33M	79.07M	63.41M	43.16M
Short-Term Investments	49.96M	27.75M	0	0	0	52.98M	153M	162.64M	156.94M	253.93M
Accounts Receivable	47.16M	51.34M	80.39M	67.03M	46.51M	69.42M	85.22M	93.8M	126.03M	79.32M
Days Sales Outstanding	42.24	40.84	57.49	55.43	40.01	46.81	45.78	39.45	44.25	34.82
Inventory	47.67M	44.55M	31.53M	50.15M	40.15M	52.27M	88.88M	149.16M	132.99M	102.73M
Days Inventory Outstanding	80.16	63.12	34.1	75.04	61.99	69.57	100.5	125.91	93.12	99.21
Other Current Assets	4.92M	34.76M	0	628K	628K	0	0	62.69M	78.13M	105.6M
Total Non-Current Assets+	141.09M	136.15M	132.62M	142.32M	173.01M	160.46M	332.79M	337.46M	343.91M	354.53M
Property, Plant & Equipment	17.15M	17.98M	15.68M	24.95M	37.39M	32.12M	33.97M	35.12M	38.72M	37.37M
Fixed Asset Turnover	23.76x	25.51x	32.55x	17.69x	11.35x	16.85x	20.00x	24.71x	26.85x	22.25x
Goodwill	116.17M	116.17M	116.17M	116.17M	116.17M	116.17M	116.17M	116.17M	116.17M	116.17M
Intangible Assets	6.62M	813K	0	0	12.15M	9.52M	6.88M	0	0	0
Long-Term Investments	0	0	0	0	0	0	0	0	0	0
Other Non-Current Assets	1.14M	1.18M	759K	1.2M	7.29M	2.65M	6.8M	19.14M	21.32M	23.39M
Total Assets+	323.89M	355.48M	295.07M	317.08M	316.82M	427.35M	742.03M	884.84M	941.87M	939.27M
Asset Turnover	1.26x	1.29x	1.73x	1.39x	1.34x	1.27x	0.92x	0.98x	1.10x	0.89x
Asset Growth %	-0.13%	0.1%	-0.17%	0.07%	-0%	0.35%	0.74%	0.19%	0.06%	-0%
Total Current Liabilities+	67.24M	121.4M	128.33M	143.68M	115.49M	101.04M	128.14M	165.42M	187.64M	131.14M
Accounts Payable	19.6M	23.83M	35.98M	40.21M	10.79M	13.12M	29.06M	41.41M	34.75M	20.23M
Days Payables Outstanding	32.97	33.77	38.91	60.16	16.66	17.46	32.86	34.95	24.33	19.53
Short-Term Debt	0	0	30M	30M	30M	2.92M	4.73M	11.16M	0	0
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	19.5M	49.94M	33.72M	38.06M	19.01M	20.82M	18.43M	51.5M	75.34M	43.86M
Current Ratio	2.72x	1.81x	1.27x	1.22x	1.25x	2.64x	3.19x	3.31x	3.19x	4.46x
Quick Ratio	2.01x	1.44x	1.02x	0.87x	0.90x	2.12x	2.50x	2.41x	2.48x	3.68x
Cash Conversion Cycle	89.44	70.2	52.68	70.31	85.34	98.93	113.42	130.41	113.04	114.5
Total Non-Current Liabilities+	20.86M	21.11M	21.77M	21.47M	47.3M	45.99M	45.47M	39.85M	35.24M	27.18M
Long-Term Debt	0	0	0	0	0	0	0	0	0	0
Capital Lease Obligations	0	0	0	0	14.34M	12.95M	12.38M	8.44M	7.42M	3.72M
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	1.29M	878K	1.13M	3.97M	14.63M	13.14M	11.08M	6.33M	2.96M	2.58M
Total Liabilities	88.1M	142.51M	150.11M	165.15M	162.79M	147.03M	173.6M	205.27M	222.88M	158.33M
Total Debt+	0	0	30M	30M	47M	18.86M	20.7M	19.6M	11.56M	8.02M
Net Debt	-23.63M	-50.36M	-9.78M	-19.65M	171K	-61.94M	-30.63M	-59.47M	-51.85M	-35.14M
Debt / Equity	-	-	0.21x	0.20x	0.31x	0.07x	0.04x	0.03x	0.02x	0.01x
Debt / EBITDA	-	-	-	-	-	0.37x	0.23x	0.29x	0.27x	-
Net Debt / EBITDA	-10.21x	-	-	-	-	-1.23x	-0.34x	-0.89x	-1.23x	-
Interest Coverage	-23.17x	-48.07x	-509.73x	-29.29x	-16.08x	23.25x	183.93x	-	-	-
Total Equity+	235.78M	212.96M	144.96M	151.93M	154.03M	280.32M	568.43M	679.57M	718.98M	780.94M
Equity Growth %	-0.14%	-0.1%	-0.32%	0.05%	0.01%	0.82%	1.03%	0.2%	0.06%	0.09%
Book Value per Share	4.58	4.37	2.89	2.89	2.80	4.52	8.38	9.86	10.37	11.85
Total Shareholders' Equity	235.78M	212.96M	144.96M	151.93M	154.03M	280.32M	568.43M	679.57M	718.98M	780.94M
Common Stock	1.33M	1.37M	1.42M	1.48M	1.54M	1.55M	1.61M	1.64M	1.63M	1.66M
Retained Earnings	-556.92M	-584.33M	-667.36M	-684.88M	-702.58M	-669.09M	-430.71M	-389.7M	-360.38M	-390.13M
Treasury Stock	-27.18M	-39.99M	-39.99M	-39.99M	-39.99M	0	0	0	0	0
Accumulated OCI	-195K	-656K	-169K	-753K	-854K	-191K	-320K	-2.47M	-659K	-612K
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-5.34M	24.42M	-62.77M	3.56M	4.65M	51.41M	56.79M	27.18M	56.25M	68.4M
Operating CF Margin %	-0.01%	0.05%	-0.12%	0.01%	0.01%	0.09%	0.08%	0.03%	0.05%	0.08%
Operating CF Growth %	-1.14%	5.57%	-3.57%	1.06%	0.31%	10.05%	0.1%	-0.52%	1.07%	0.22%
Net Income	-26.33M	-27.4M	-83.03M	-19.3M	-17.69M	33.48M	238.38M	41.01M	29.32M	-29.75M
Depreciation & Amortization	28.82M	14.12M	10.99M	9.19M	10.32M	13.72M	18.11M	18.32M	16.63M	19.55M
Stock-Based Compensation	13.8M	14.29M	12.37M	17.47M	11.18M	13.96M	0	0	62.77M	70.76M
Deferred Taxes	0	0	0	0	0	0	-168.43M	1.93M	-660K	-9.97M
Other Non-Cash Items	931K	382K	274K	-6.38M	2.64M	3.91M	21.13M	39.68M	-4.2M	-5.29M
Working Capital Changes	-22.57M	23.03M	-3.37M	2.58M	-1.78M	-13.67M	-52.4M	-73.75M	-47.62M	23.09M
Change in Receivables	-16.41M	-4.18M	-29.06M	13.86M	20.52M	-22.91M	-15.8M	-8.59M	-32.22M	46.71M
Change in Inventory	-915K	3.12M	13.02M	-20.64M	10M	-12.12M	-36.61M	-60.28M	16.18M	30.26M
Change in Payables	-4.02M	4.24M	11.76M	4.6M	-29.44M	2.19M	16.02M	12.11M	-6.37M	-15.14M
Cash from Investing+	4.67M	12.08M	19.73M	-76K	-13.35M	-60.8M	-110.66M	-24.08M	-6.25M	-109.53M
Capital Expenditures	-7.28M	-9.84M	-8.03M	-10.43M	-13.35M	-7.82M	-10.46M	-14.07M	-17.86M	-18.05M
CapEx % of Revenue	0.02%	0.02%	0.02%	0.02%	0.03%	0.01%	0.02%	0.02%	0.02%	0.02%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	11.94M	21.92M	27.76M	10.35M	0	-52.98M	0	0	0	0
Cash from Financing+	-24.14M	-9.24M	31.99M	7.49M	5.97M	42.15M	24.38M	25.06M	-65.93M	20.9M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	3.04M	5.67M	1.99M	7.49M	5.97M	-12.16M	0	0	20.47M	31.59M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-12.62M	14.58M	-70.8M	-6.87M	-8.7M	43.59M	46.33M	13.12M	38.4M	50.35M
FCF Margin %	-0.03%	0.03%	-0.14%	-0.02%	-0.02%	0.08%	0.07%	0.02%	0.04%	0.06%
FCF Growth %	-1.48%	2.16%	-5.86%	0.9%	-0.27%	6.01%	0.06%	-0.72%	1.93%	0.31%
FCF per Share	-0.25	0.30	-1.41	-0.13	-0.16	0.70	0.68	0.19	0.55	0.76
FCF Conversion (FCF/Net Income)	0.20x	-0.89x	0.76x	-0.18x	-0.26x	1.54x	0.24x	0.66x	1.92x	-2.30x
Interest Paid	127K	127K	313K	649K	1.12M	1.69M	0	0	253K	0
Taxes Paid	483K	965K	915K	561K	403K	751K	0	0	11.87M	5.88M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-10.33%	-12.21%	-46.4%	-13%	-11.57%	15.42%	56.17%	6.57%	4.19%	-3.97%
Return on Invested Capital (ROIC)	-9.1%	-11.25%	-41.08%	-10.38%	-8.06%	14.83%	14.67%	6.82%	2.98%	-4.57%
Gross Margin	46.74%	43.86%	33.88%	44.73%	44.29%	49.33%	52.49%	50.17%	49.86%	54.55%
Net Margin	-6.46%	-5.97%	-16.27%	-4.37%	-4.17%	6.19%	35.09%	4.73%	2.82%	-3.58%
Debt / Equity	-	-	0.21x	0.20x	0.31x	0.07x	0.04x	0.03x	0.02x	0.01x
Interest Coverage	-23.17x	-48.07x	-509.73x	-29.29x	-16.08x	23.25x	183.93x	-	-	-
FCF Conversion	0.20x	-0.89x	0.76x	-0.18x	-0.26x	1.54x	0.24x	0.66x	1.92x	-2.30x
Revenue Growth	1.55%	12.6%	11.24%	-13.53%	-3.85%	27.55%	25.53%	27.74%	19.79%	-20.02%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Reportable	-	-	-	-	-	-	-	-	-	831.52M
Reportable Growth	-	-	-	-	-	-	-	-	-	-
Systems Product	-	-	-	405.92M	393.23M	508.55M	642.58M	-	-	-
Systems Product Growth	-	-	-	-	-3.13%	29.33%	26.35%	-	-	-
Technology Service	-	-	-	35.4M	31.1M	32.69M	36.82M	-	-	-
Technology Service Growth	-	-	-	-	-12.14%	5.11%	12.63%	-	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
UNITED STATES	360.08M	415.63M	452.96M	386.34M	365.59M	469.65M	565.96M	786.8M	944.2M	764.59M
UNITED STATES Growth	-	15.43%	8.98%	-14.71%	-5.37%	28.46%	20.51%	39.02%	20.00%	-19.02%
Europe	11.09M	6.33M	6.58M	8.86M	11.48M	22.92M	45.88M	41.89M	54.27M	34.32M
Europe Growth	-	-42.89%	3.80%	34.72%	29.60%	99.69%	100.14%	-8.69%	29.54%	-36.75%
Americas Ex U.S.	-	-	-	-	-	-	45.72M	26.92M	32.7M	25.58M
Americas Ex U.S. Growth	-	-	-	-	-	-	-	-41.13%	21.47%	-21.75%
Middle East And Africa	-	-	-	-	-	-	19.02M	10.88M	7.46M	5.92M
Middle East And Africa Growth	-	-	-	-	-	-	-	-42.76%	-31.49%	-20.65%
Asia Pacific	-	-	-	-	-	-	2.81M	1.33M	974K	1.1M
Asia Pacific Growth	-	-	-	-	-	-	-	-52.67%	-26.88%	13.24%
CANADA	10.2M	9.06M	13.11M	10.54M	14.53M	16.84M	-	-	-	-
CANADA Growth	-	-11.12%	44.58%	-19.56%	37.84%	15.90%	-	-	-	-
Middle East	-	-	-	18.81M	18.66M	14.07M	-	-	-	-
Middle East Growth	-	-	-	-	-0.80%	-24.61%	-	-	-	-
Caribbean	13.36M	12.93M	9.85M	7.08M	5.81M	9.86M	-	-	-	-
Caribbean Growth	-	-3.17%	-23.82%	-28.19%	-17.89%	69.81%	-	-	-	-
Segment, Geographical, Other Countries	12.74M	14.83M	27.88M	9.69M	8.26M	7.89M	-	-	-	-
Segment, Geographical, Other Countries Growth	-	16.37%	88.03%	-65.24%	-14.76%	-4.49%	-	-	-	-

Frequently Asked Questions

Growth & Financials

Calix, Inc. (CALX) reported $933.7M in revenue for fiscal year 2024. This represents a 171% increase from $344.7M in 2011.

Calix, Inc. (CALX) saw revenue decline by 20.0% over the past year.

Calix, Inc. (CALX) reported a net loss of $7.3M for fiscal year 2024.

Dividend & Returns

Calix, Inc. (CALX) has a return on equity (ROE) of -4.0%. Negative ROE indicates the company is unprofitable.

Calix, Inc. (CALX) generated $85.5M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

US Stock Screener

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Calix, Inc. (CALX) 10-Year Financial Performance & Capital Metrics

CALX • • Industrial / General

TechnologyApplication SoftwareDesign & Engineering SoftwareInfrastructure Design

Revenue $832M -20.0%
EBITDA -$23M -155.6%
Net Income -$30M -201.4%
EPS (Diluted) -0.45 -207.1%
Gross Margin 54.55% +9.4%
EBITDA Margin -2.82% -169.5%
Operating Margin -5.18% -310.3%
Net Margin -3.58% -226.8%
ROE -3.97% -194.6%
ROIC -4.57% -253.2%
Debt/Equity 0.01 -36.1%
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓Strong 5Y sales CAGR of 14.4%
✓Share count reduced 5.0% through buybacks

✗Weaknesses

✗Weak 3Y average ROE of 2.3%

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y7.56%

5Y14.4%

3Y6.97%

TTM4.89%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM60.63%

EPS CAGR

10Y-

5Y-

3Y-

TTM56.36%

ROCE

10Y Avg-4.53%

5Y Avg7.11%

3Y Avg1.95%

Latest-5.51%

Peer Comparison

Infrastructure Design

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
BSYBentley Systems, Incorporated	11.41B	39.07	54.26	10.15%	18.45%	22.53%	3.69%	1.37
PCORProcore Technologies, Inc.	11.02B	70.90	-98.47	21.23%	-9.84%	-10.25%	1.61%	0.06
CALXCalix, Inc.	3.91B	59.04	-131.20	-20.02%	-0.78%	-0.88%	1.29%	0.01

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	407.46M	458.79M	510.37M	441.32M	424.33M	541.24M	679.39M	867.83M	1.04B	831.52M
Revenue Growth %	0.02%	0.13%	0.11%	-0.14%	-0.04%	0.28%	0.26%	0.28%	0.2%	-0.2%
Cost of Goods Sold+	217.03M	257.57M	337.48M	243.94M	236.41M	274.22M	322.81M	432.4M	521.28M	377.92M
COGS % of Revenue	0.53%	0.56%	0.66%	0.55%	0.56%	0.51%	0.48%	0.5%	0.5%	0.45%
Gross Profit+	190.43M	201.22M	172.89M	197.38M	187.93M	267.02M	356.59M	435.43M	518.32M	453.59M
Gross Margin %	0.47%	0.44%	0.34%	0.45%	0.44%	0.49%	0.52%	0.5%	0.5%	0.55%
Gross Profit Growth %	0.07%	0.06%	-0.14%	0.14%	-0.05%	0.42%	0.34%	0.22%	0.19%	-0.12%
Operating Expenses+	216.94M	229.34M	254.45M	215.9M	203.33M	230.17M	282.65M	382.82M	492.73M	496.63M
OpEx % of Revenue	0.53%	0.5%	0.5%	0.49%	0.48%	0.43%	0.42%	0.44%	0.47%	0.6%
Selling, General & Admin	117.02M	125.27M	122.66M	126.93M	119.67M	138.63M	181.69M	250.82M	314.96M	316.76M
SG&A % of Revenue	0.29%	0.27%	0.24%	0.29%	0.28%	0.26%	0.27%	0.29%	0.3%	0.38%
Research & Development	89.71M	106.87M	127.54M	89.96M	81.18M	85.26M	101.75M	131.99M	177.77M	179.87M
R&D % of Revenue	0.22%	0.23%	0.25%	0.2%	0.19%	0.16%	0.15%	0.15%	0.17%	0.22%
Other Operating Expenses	10.21M	-2.8M	4.25M	-999K	2.47M	6.29M	-786K	0	0	0
Operating Income+	-26.51M	-28.12M	-81.56M	-18.51M	-15.4M	36.85M	73.94M	52.61M	25.59M	-43.03M
Operating Margin %	-0.07%	-0.06%	-0.16%	-0.04%	-0.04%	0.07%	0.11%	0.06%	0.02%	-0.05%
Operating Income Growth %	-0.3%	-0.06%	-1.9%	0.77%	0.17%	3.39%	1.01%	-0.29%	-0.51%	-2.68%
EBITDA+	2.31M	-13.99M	-70.56M	-9.33M	-5.08M	50.56M	88.95M	66.92M	42.22M	-23.48M
EBITDA Margin %	0.01%	-0.03%	-0.14%	-0.02%	-0.01%	0.09%	0.13%	0.08%	0.04%	-0.03%
EBITDA Growth %	-0.69%	-7.05%	-4.04%	0.87%	0.45%	10.94%	0.76%	-0.25%	-0.37%	-1.56%
D&A (Non-Cash Add-back)	28.82M	14.12M	10.99M	9.19M	10.32M	13.72M	15.01M	14.31M	16.63M	19.55M
EBIT	-26.51M	-32.62M	-77.31M	-18.14M	-15.57M	35.87M	73.06M	52.61M	25.59M	-43.03M
Net Interest Income+	141K	152K	-160K	-632K	-958K	-1.58M	-402K	2.01M	9.7M	12.34M
Interest Income	1.28M	737K	0	0	0	0	0	2.01M	9.7M	12.34M
Interest Expense	1.14M	585K	160K	632K	958K	1.58M	402K	0	0	0
Other Income/Expense	712K	1.06M	-233K	-254K	-1.13M	-2.56M	-1.28M	1.43M	9.17M	11.39M
Pretax Income+	-25.8M	-27.05M	-81.79M	-18.77M	-16.53M	34.28M	72.65M	54.04M	34.76M	-31.65M
Pretax Margin %	-0.06%	-0.06%	-0.16%	-0.04%	-0.04%	0.06%	0.11%	0.06%	0.03%	-0.04%
Income Tax+	535K	347K	1.24M	530K	1.16M	800K	-165.72M	13.03M	5.43M	-1.9M
Effective Tax Rate %	1.02%	1.01%	1.02%	1.03%	1.07%	0.98%	3.28%	0.76%	0.84%	0.94%
Net Income+	-26.33M	-27.4M	-83.03M	-19.3M	-17.69M	33.48M	238.38M	41.01M	29.32M	-29.75M
Net Margin %	-0.06%	-0.06%	-0.16%	-0.04%	-0.04%	0.06%	0.35%	0.05%	0.03%	-0.04%
Net Income Growth %	-0.27%	-0.04%	-2.03%	0.77%	0.08%	2.89%	6.12%	-0.83%	-0.28%	-2.01%
Net Income (Continuing)	-26.33M	-27.4M	-83.03M	-19.3M	-17.69M	33.48M	238.38M	41.01M	29.32M	-29.75M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-0.51	-0.56	-1.66	-0.37	-0.32	0.54	3.51	0.60	0.42	-0.45
EPS Growth %	-0.34%	-0.1%	-1.96%	0.78%	0.14%	2.69%	5.5%	-0.83%	-0.3%	-2.07%
EPS (Basic)	-0.51	-0.56	-1.66	-0.37	-0.32	0.57	3.77	0.63	0.44	-0.45
Diluted Shares Outstanding	51.49M	48.73M	50.16M	52.61M	54.99M	62M	67.86M	68.91M	69.32M	65.88M
Basic Shares Outstanding	51.49M	48.73M	50.16M	52.16M	54.99M	59.07M	63.28M	65.06M	65.98M	65.88M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	182.8M	219.32M	162.46M	174.76M	143.82M	266.89M	409.25M	547.37M	597.96M	584.74M
Cash & Short-Term Investments	73.59M	78.11M	39.77M	49.65M	46.83M	133.79M	204.34M	241.72M	220.35M	297.09M
Cash Only	23.63M	50.36M	39.77M	49.65M	46.83M	80.81M	51.33M	79.07M	63.41M	43.16M
Short-Term Investments	49.96M	27.75M	0	0	0	52.98M	153M	162.64M	156.94M	253.93M
Accounts Receivable	47.16M	51.34M	80.39M	67.03M	46.51M	69.42M	85.22M	93.8M	126.03M	79.32M
Days Sales Outstanding	42.24	40.84	57.49	55.43	40.01	46.81	45.78	39.45	44.25	34.82
Inventory	47.67M	44.55M	31.53M	50.15M	40.15M	52.27M	88.88M	149.16M	132.99M	102.73M
Days Inventory Outstanding	80.16	63.12	34.1	75.04	61.99	69.57	100.5	125.91	93.12	99.21
Other Current Assets	4.92M	34.76M	0	628K	628K	0	0	62.69M	78.13M	105.6M
Total Non-Current Assets+	141.09M	136.15M	132.62M	142.32M	173.01M	160.46M	332.79M	337.46M	343.91M	354.53M
Property, Plant & Equipment	17.15M	17.98M	15.68M	24.95M	37.39M	32.12M	33.97M	35.12M	38.72M	37.37M
Fixed Asset Turnover	23.76x	25.51x	32.55x	17.69x	11.35x	16.85x	20.00x	24.71x	26.85x	22.25x
Goodwill	116.17M	116.17M	116.17M	116.17M	116.17M	116.17M	116.17M	116.17M	116.17M	116.17M
Intangible Assets	6.62M	813K	0	0	12.15M	9.52M	6.88M	0	0	0
Long-Term Investments	0	0	0	0	0	0	0	0	0	0
Other Non-Current Assets	1.14M	1.18M	759K	1.2M	7.29M	2.65M	6.8M	19.14M	21.32M	23.39M
Total Assets+	323.89M	355.48M	295.07M	317.08M	316.82M	427.35M	742.03M	884.84M	941.87M	939.27M
Asset Turnover	1.26x	1.29x	1.73x	1.39x	1.34x	1.27x	0.92x	0.98x	1.10x	0.89x
Asset Growth %	-0.13%	0.1%	-0.17%	0.07%	-0%	0.35%	0.74%	0.19%	0.06%	-0%
Total Current Liabilities+	67.24M	121.4M	128.33M	143.68M	115.49M	101.04M	128.14M	165.42M	187.64M	131.14M
Accounts Payable	19.6M	23.83M	35.98M	40.21M	10.79M	13.12M	29.06M	41.41M	34.75M	20.23M
Days Payables Outstanding	32.97	33.77	38.91	60.16	16.66	17.46	32.86	34.95	24.33	19.53
Short-Term Debt	0	0	30M	30M	30M	2.92M	4.73M	11.16M	0	0
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	19.5M	49.94M	33.72M	38.06M	19.01M	20.82M	18.43M	51.5M	75.34M	43.86M
Current Ratio	2.72x	1.81x	1.27x	1.22x	1.25x	2.64x	3.19x	3.31x	3.19x	4.46x
Quick Ratio	2.01x	1.44x	1.02x	0.87x	0.90x	2.12x	2.50x	2.41x	2.48x	3.68x
Cash Conversion Cycle	89.44	70.2	52.68	70.31	85.34	98.93	113.42	130.41	113.04	114.5
Total Non-Current Liabilities+	20.86M	21.11M	21.77M	21.47M	47.3M	45.99M	45.47M	39.85M	35.24M	27.18M
Long-Term Debt	0	0	0	0	0	0	0	0	0	0
Capital Lease Obligations	0	0	0	0	14.34M	12.95M	12.38M	8.44M	7.42M	3.72M
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	1.29M	878K	1.13M	3.97M	14.63M	13.14M	11.08M	6.33M	2.96M	2.58M
Total Liabilities	88.1M	142.51M	150.11M	165.15M	162.79M	147.03M	173.6M	205.27M	222.88M	158.33M
Total Debt+	0	0	30M	30M	47M	18.86M	20.7M	19.6M	11.56M	8.02M
Net Debt	-23.63M	-50.36M	-9.78M	-19.65M	171K	-61.94M	-30.63M	-59.47M	-51.85M	-35.14M
Debt / Equity	-	-	0.21x	0.20x	0.31x	0.07x	0.04x	0.03x	0.02x	0.01x
Debt / EBITDA	-	-	-	-	-	0.37x	0.23x	0.29x	0.27x	-
Net Debt / EBITDA	-10.21x	-	-	-	-	-1.23x	-0.34x	-0.89x	-1.23x	-
Interest Coverage	-23.17x	-48.07x	-509.73x	-29.29x	-16.08x	23.25x	183.93x	-	-	-
Total Equity+	235.78M	212.96M	144.96M	151.93M	154.03M	280.32M	568.43M	679.57M	718.98M	780.94M
Equity Growth %	-0.14%	-0.1%	-0.32%	0.05%	0.01%	0.82%	1.03%	0.2%	0.06%	0.09%
Book Value per Share	4.58	4.37	2.89	2.89	2.80	4.52	8.38	9.86	10.37	11.85
Total Shareholders' Equity	235.78M	212.96M	144.96M	151.93M	154.03M	280.32M	568.43M	679.57M	718.98M	780.94M
Common Stock	1.33M	1.37M	1.42M	1.48M	1.54M	1.55M	1.61M	1.64M	1.63M	1.66M
Retained Earnings	-556.92M	-584.33M	-667.36M	-684.88M	-702.58M	-669.09M	-430.71M	-389.7M	-360.38M	-390.13M
Treasury Stock	-27.18M	-39.99M	-39.99M	-39.99M	-39.99M	0	0	0	0	0
Accumulated OCI	-195K	-656K	-169K	-753K	-854K	-191K	-320K	-2.47M	-659K	-612K
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-5.34M	24.42M	-62.77M	3.56M	4.65M	51.41M	56.79M	27.18M	56.25M	68.4M
Operating CF Margin %	-0.01%	0.05%	-0.12%	0.01%	0.01%	0.09%	0.08%	0.03%	0.05%	0.08%
Operating CF Growth %	-1.14%	5.57%	-3.57%	1.06%	0.31%	10.05%	0.1%	-0.52%	1.07%	0.22%
Net Income	-26.33M	-27.4M	-83.03M	-19.3M	-17.69M	33.48M	238.38M	41.01M	29.32M	-29.75M
Depreciation & Amortization	28.82M	14.12M	10.99M	9.19M	10.32M	13.72M	18.11M	18.32M	16.63M	19.55M
Stock-Based Compensation	13.8M	14.29M	12.37M	17.47M	11.18M	13.96M	0	0	62.77M	70.76M
Deferred Taxes	0	0	0	0	0	0	-168.43M	1.93M	-660K	-9.97M
Other Non-Cash Items	931K	382K	274K	-6.38M	2.64M	3.91M	21.13M	39.68M	-4.2M	-5.29M
Working Capital Changes	-22.57M	23.03M	-3.37M	2.58M	-1.78M	-13.67M	-52.4M	-73.75M	-47.62M	23.09M
Change in Receivables	-16.41M	-4.18M	-29.06M	13.86M	20.52M	-22.91M	-15.8M	-8.59M	-32.22M	46.71M
Change in Inventory	-915K	3.12M	13.02M	-20.64M	10M	-12.12M	-36.61M	-60.28M	16.18M	30.26M
Change in Payables	-4.02M	4.24M	11.76M	4.6M	-29.44M	2.19M	16.02M	12.11M	-6.37M	-15.14M
Cash from Investing+	4.67M	12.08M	19.73M	-76K	-13.35M	-60.8M	-110.66M	-24.08M	-6.25M	-109.53M
Capital Expenditures	-7.28M	-9.84M	-8.03M	-10.43M	-13.35M	-7.82M	-10.46M	-14.07M	-17.86M	-18.05M
CapEx % of Revenue	0.02%	0.02%	0.02%	0.02%	0.03%	0.01%	0.02%	0.02%	0.02%	0.02%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	11.94M	21.92M	27.76M	10.35M	0	-52.98M	0	0	0	0
Cash from Financing+	-24.14M	-9.24M	31.99M	7.49M	5.97M	42.15M	24.38M	25.06M	-65.93M	20.9M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	3.04M	5.67M	1.99M	7.49M	5.97M	-12.16M	0	0	20.47M	31.59M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-12.62M	14.58M	-70.8M	-6.87M	-8.7M	43.59M	46.33M	13.12M	38.4M	50.35M
FCF Margin %	-0.03%	0.03%	-0.14%	-0.02%	-0.02%	0.08%	0.07%	0.02%	0.04%	0.06%
FCF Growth %	-1.48%	2.16%	-5.86%	0.9%	-0.27%	6.01%	0.06%	-0.72%	1.93%	0.31%
FCF per Share	-0.25	0.30	-1.41	-0.13	-0.16	0.70	0.68	0.19	0.55	0.76
FCF Conversion (FCF/Net Income)	0.20x	-0.89x	0.76x	-0.18x	-0.26x	1.54x	0.24x	0.66x	1.92x	-2.30x
Interest Paid	127K	127K	313K	649K	1.12M	1.69M	0	0	253K	0
Taxes Paid	483K	965K	915K	561K	403K	751K	0	0	11.87M	5.88M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-10.33%	-12.21%	-46.4%	-13%	-11.57%	15.42%	56.17%	6.57%	4.19%	-3.97%
Return on Invested Capital (ROIC)	-9.1%	-11.25%	-41.08%	-10.38%	-8.06%	14.83%	14.67%	6.82%	2.98%	-4.57%
Gross Margin	46.74%	43.86%	33.88%	44.73%	44.29%	49.33%	52.49%	50.17%	49.86%	54.55%
Net Margin	-6.46%	-5.97%	-16.27%	-4.37%	-4.17%	6.19%	35.09%	4.73%	2.82%	-3.58%
Debt / Equity	-	-	0.21x	0.20x	0.31x	0.07x	0.04x	0.03x	0.02x	0.01x
Interest Coverage	-23.17x	-48.07x	-509.73x	-29.29x	-16.08x	23.25x	183.93x	-	-	-
FCF Conversion	0.20x	-0.89x	0.76x	-0.18x	-0.26x	1.54x	0.24x	0.66x	1.92x	-2.30x
Revenue Growth	1.55%	12.6%	11.24%	-13.53%	-3.85%	27.55%	25.53%	27.74%	19.79%	-20.02%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Reportable	-	-	-	-	-	-	-	-	-	831.52M
Reportable Growth	-	-	-	-	-	-	-	-	-	-
Systems Product	-	-	-	405.92M	393.23M	508.55M	642.58M	-	-	-
Systems Product Growth	-	-	-	-	-3.13%	29.33%	26.35%	-	-	-
Technology Service	-	-	-	35.4M	31.1M	32.69M	36.82M	-	-	-
Technology Service Growth	-	-	-	-	-12.14%	5.11%	12.63%	-	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
UNITED STATES	360.08M	415.63M	452.96M	386.34M	365.59M	469.65M	565.96M	786.8M	944.2M	764.59M
UNITED STATES Growth	-	15.43%	8.98%	-14.71%	-5.37%	28.46%	20.51%	39.02%	20.00%	-19.02%
Europe	11.09M	6.33M	6.58M	8.86M	11.48M	22.92M	45.88M	41.89M	54.27M	34.32M
Europe Growth	-	-42.89%	3.80%	34.72%	29.60%	99.69%	100.14%	-8.69%	29.54%	-36.75%
Americas Ex U.S.	-	-	-	-	-	-	45.72M	26.92M	32.7M	25.58M
Americas Ex U.S. Growth	-	-	-	-	-	-	-	-41.13%	21.47%	-21.75%
Middle East And Africa	-	-	-	-	-	-	19.02M	10.88M	7.46M	5.92M
Middle East And Africa Growth	-	-	-	-	-	-	-	-42.76%	-31.49%	-20.65%
Asia Pacific	-	-	-	-	-	-	2.81M	1.33M	974K	1.1M
Asia Pacific Growth	-	-	-	-	-	-	-	-52.67%	-26.88%	13.24%
CANADA	10.2M	9.06M	13.11M	10.54M	14.53M	16.84M	-	-	-	-
CANADA Growth	-	-11.12%	44.58%	-19.56%	37.84%	15.90%	-	-	-	-
Middle East	-	-	-	18.81M	18.66M	14.07M	-	-	-	-
Middle East Growth	-	-	-	-	-0.80%	-24.61%	-	-	-	-
Caribbean	13.36M	12.93M	9.85M	7.08M	5.81M	9.86M	-	-	-	-
Caribbean Growth	-	-3.17%	-23.82%	-28.19%	-17.89%	69.81%	-	-	-	-
Segment, Geographical, Other Countries	12.74M	14.83M	27.88M	9.69M	8.26M	7.89M	-	-	-	-
Segment, Geographical, Other Countries Growth	-	16.37%	88.03%	-65.24%	-14.76%	-4.49%	-	-	-	-

Frequently Asked Questions

Growth & Financials

Calix, Inc. (CALX) reported $933.7M in revenue for fiscal year 2024. This represents a 171% increase from $344.7M in 2011.

Calix, Inc. (CALX) saw revenue decline by 20.0% over the past year.

Calix, Inc. (CALX) reported a net loss of $7.3M for fiscal year 2024.

Dividend & Returns

Calix, Inc. (CALX) has a return on equity (ROE) of -4.0%. Negative ROE indicates the company is unprofitable.

Calix, Inc. (CALX) generated $85.5M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.