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CALXCalix, Inc.
$35.42$2.2B
Overview & Tools
OverviewChart Terminal ↗Visualize
Valuation & Forecasts
Valuation ModelsEstimatesDCF Model
Price & Analyst Data
Analyst TargetsPrice History
Financial Statements
Income StatementBalance SheetCash FlowRatios & Margins
Performance
P/E HistoryRevenue HistoryEarnings HistoryDividend HistoryTotal Return
Discovery & Screens
Live BreakoutsStock ScreenerOwnership
CALX logo

Calix, Inc.

CALX
NYSE · Application Software
$35.42
At close - Sep 21, 4:00 PM EDT - USD
Market Cap$2.23B
P/E136.2x
52W High$71.22
Volume1.07M
OverviewTerminalAnalysisFinancialsValuationEarningsBreakoutsOwnership
VCP Research Verdict2026Q2

Revenue Rebound Accelerates While SBC Dilution Persists

Calix is executing a strong operational turnaround, with revenue growth accelerating to 21.3% YoY in 2026Q2 and operating margin expanding from -9.1% in 2024Q4 to 7.4%, driven by disciplined cost control and a light-asset model. However, heavy stock-based comp...

GrowthAccelerating
ProfitabilityStable
ValuationAttractive
TechnicalsWeak
Explore valuation models
MARKET ACTION

CALX price & volume

Price trend, volume and key moving averages

Launch Terminal
Loading chart...
Decision Checklist4 Core Signals

What matters now

The signals most likely to change the investment case.

01

Earnings momentum

12/12 Beats

EPS beat 12 of last 12 quarters

02

Valuation risk

+70% Peers

P/E is 70% above peer median

03

Market leadership

RS 22 · Lag

Laggard (Underperforming 78% of market)

04

Weak Trend

Below 200DMA

Price < 200DMA

Next CatalystEstimated earnings · Oct 20

Market performance

Price History →

Trailing total returns as of 9/22/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return
CALX-33.91%
S&P 500 (^GSPC)+13.22%
1-Year Return
CALX-44.19%
S&P 500 (^GSPC)+15.99%
3-Year Return
CALX-20.80%
S&P 500 (^GSPC)+84.31%
5-Year Return
CALX-25.59%
S&P 500 (^GSPC)+78.51%
02

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis
Trailing P/E5Y High
136.2x
Forward P/EExpansion
20.6x
EV/EBITDA0th %ile
54.6x
FCF YieldCash Flow
5.2%

Valuation vs 5-Year History

Multiple Range
Metric
Current
5Y Median
Historical Range
Percentile
P/E
136.2x
114.1x
75th· Fair
EV/EBITDA
54.6x
70.5x
0th· Low
Price/FCF
19.3x
78.9x
0th· Low
Current Multiple
5Y Median (50th %ile)

Intrinsic Value Scenarios

DCF Projection
Bear$15.90-55.1%
Base (Fair)$26.11-25.9%
Bull$28.28-20.2%
$15.90 Bear$26.11 Base$28.28 Bull
Current Market Price: $35.42
Trades at a 35.7% premium to Base DCF ($26.11)
Open DCF & Valuation Models →Chart Terminal ↗

Growth & profitability

Annual revenue & EPS trend
Revenue
$1B+20.3% YoY
Net income
$18M+160.1% YoY
Free cash flow
$116M+129.4% YoY
Operating margin
2.1%+7.3 pts YoY
ROIC (TTM)2.1%
Avg ROIC 5Y-
ROE (TTM)2.2%
Piotroski Score6 / 9
Financial Statements →
03

Monitor what changed

Recent results and news deserve attention only when they alter the forward view.

OPERATING RESULTS

Recent Earnings

Earnings History
EPS Beat Rate12/12 (100%)
Revenue Beat Rate8/12 (67%)
QuarterEPS (Act vs Est)Revenue (Act vs Est)
Q3 2026Latest
Jul 20, 2026
$0.47+16.1%
vs $0.40
$293M+1.2%
vs $290M
Q2 2026
Apr 21, 2026
$0.40+5.3%
vs $0.38
$280M+0.9%
vs $277M
Q1 2026
Jan 28, 2026
$0.39+2.6%
vs $0.38
$272M+0.8%
vs $270M
Q4 2025
Oct 29, 2025
$0.44+29.4%
vs $0.34
$265M+5.7%
vs $251M
Historical baseline: 12 quarters analyzedGAAP / Adjusted
MARKET COVERAGE

Latest News

5 Stories
GuruFocus·4d ago
Calix Agent Workforce Cloud Expands Workflows That Increase ARPU, Resolve Service Disruptions, and Improve Efficiency Across the Service Provider Business

[url="]Calix, Inc.[/url] (NYSE: CALX) today announced an expansion of [url="]Calix Agent Workforce Cloud[/url]™ on the AI-native [url="]Calix One[/url]™ pla

Business Wire·4d ago
Calix Agent Workforce Cloud Expands Workflows That Increase ARPU, Resolve Service Disruptions, and Improve Efficiency Across the Service Provider Business

SAN JOSE, Calif.--(BUSINESS WIRE)---- $CALX #calix--Calix, Inc. (NYSE: CALX) today announced an expansion of Calix Agent Workforce Cloud™ on the AI-native Calix One™ platform, adding secure agentic workflows that help service providers operationalize AI across marketing, support, and operations. Building on the initial workflows introduced in May, the new agentic capabilities help teams collaborate seamlessly across functional boundaries—with humans in the loop—to create targeted campaigns and upsell offers, ac.

Defense World·Sep 14, 2026
Engineers Gate Manager LP Cuts Stock Holdings in Calix, Inc $CALX

Engineers Gate Manager LP reduced its position in shares of Calix, Inc (NYSE: CALX) by 35.5% in the undefined quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 83,602 shares of the communications equipment provider's stock after selling 45,939 shares during the period.

Defense World·Sep 13, 2026
Calix, Inc $CALX Shares Sold by Squarepoint Ops LLC

Squarepoint Ops LLC reduced its position in shares of Calix, Inc (NYSE: CALX) by 79.1% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 95,753 shares of the communications equipment provider's stock after selling 363,049 shares during the quarter. Squarepoint Ops

Filtered for Calix, Inc.More Headlines
04

Compare before deciding

Benchmark CALX against direct peers instead of judging its metrics in isolation.

Peers Comparison

Key metrics vs top competitors for Calix, Inc. (CALX)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
CALX logoCALXCalix, Inc.Current
$35.42$2.23B136.2320.26%1.79%2.18%—
CIEN logoCIENCiena Corporation
$365.96$51.8B430.5418.79%10.87%22.82%—
VIAV logoVIAVViavi Solutions Inc.
$36.20$8.93B241.338.39%-2%-3.16%—
CSCO logoCSCOCisco Systems, Inc.
$111.46$439.31B33.4711.77%20.95%27.39%—
ANET logoANETArista Networks, Inc.
$205.42$258.66B74.7028.6%38.37%30.78%—
COMM logoCOMMCommScope Holding Company, Inc.
$17.82$3.95B-10.01-7.87%1.16%——

Compare CALX vs Peers

Calix, Inc. (CALX) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs CIEN

Most directly comparable listed peer for CALX.

Scale Benchmark

vs AVGO

Larger-name benchmark to compare CALX against a more recognizable public peer.

Peer Set

Compare Top 5

vs CIEN, VIAV, CSCO, ANET

05

Keep researching

Verify the primary filings, follow material updates, and answer the remaining questions.

CALX SEC Filings & Documents

Calix, Inc. (CALX) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Jul 20, 2026·SEC

Material company update

May 15, 2026·SEC

Material company update

Apr 21, 2026·SEC

10-K Annual Reports

4
FY 2026

Feb 20, 2026·SEC

FY 2025

Feb 21, 2025·SEC

FY 2024

Feb 23, 2024·SEC

10-Q Quarterly Reports

6
FY 2026

Jul 21, 2026·SEC

FY 2026

Apr 22, 2026·SEC

FY 2025

Oct 30, 2025·SEC

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CALX Frequently Asked Questions

Calix, Inc. (CALX) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
What is Calix, Inc.'s revenue?

Calix, Inc. (CALX) reported $1.11B in revenue for fiscal year 2025. This represents a 473% increase from $193.8M in 2007.

How fast is Calix, Inc. growing?

Calix, Inc. (CALX) grew revenue by 20.3% over the past year. This is strong growth.

Is CALX profitable?

Yes, Calix, Inc. (CALX) is profitable, generating $51.2M in net income for fiscal year 2025 (1.8% net margin).

Dividend & Returns
What is CALX's return on equity?

Calix, Inc. (CALX) has a return on equity (ROE) of 2.2%. This is below average, suggesting room for improvement.

What is Calix, Inc.'s free cash flow?

Calix, Inc. (CALX) generated $85.4M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

What if you invested $1,000 in CALX back in 2007?

Total return calculator · dividends reinvested · 19+ years of data

See returns →