Calix, Inc. (CALX) Financial Ratios
19 years of historical data (2007–2025) · Technology · Software - Application
EV/EBITDA
↑
60.32
↓-18% vs avg
5yr avg: 73.51
30Y Low35.3·High93.3
P/FCF
↓
21.23
↓-83% vs avg
5yr avg: 126.69
30Y Low14.1·High141.3
P/B Ratio
↓
3.11
↓-44% vs avg
5yr avg: 5.60
30Y Low1.1·High9.5
ROE
↓
2.2%
↑-83% vs avg
5yr avg: 13.0%
30Y Low-46%·High56%
Debt/EBITDA
↑
0.66
↑+81% vs avg
5yr avg: 0.36
30Y Low0.2·High0.7
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
CALX Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Calix, Inc. trades at 146.0x earnings, 31% above its 5-year average of 111.1x, sitting at the 100th percentile of its historical range. Compared to the Technology sector median P/E of 29.0x, the stock trades at a premium of 403%. On a free-cash-flow basis, the stock trades at 21.2x P/FCF, 83% below the 5-year average of 126.7x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $2.5B | $3.7B | $2.3B | $3.0B | $4.7B | $5.4B | $1.8B | $440M | $513M | $298M | $375M |
| Enterprise Value | $2.3B | $3.6B | $2.3B | $3.0B | $4.7B | $5.4B | $1.8B | $440M | $493M | $289M | $325M |
| P/E Ratio → | 145.96 | 203.58 | — | 104.02 | 114.05 | 22.78 | 55.11 | — | — | — | — |
| P/S Ratio | 2.45 | 3.73 | 2.76 | 2.91 | 5.43 | 7.99 | 3.41 | 1.04 | 1.16 | 0.58 | 0.82 |
| P/B Ratio | 3.11 | 4.34 | 2.94 | 4.21 | 6.94 | 9.55 | 6.58 | 2.86 | 3.38 | 2.06 | 1.76 |
| P/FCF | 21.23 | 32.27 | 45.63 | 78.88 | 359.53 | 117.13 | 42.33 | — | — | — | 25.74 |
| P/OCF | 18.17 | 27.62 | 33.58 | 53.84 | 173.48 | 95.55 | 35.89 | 94.53 | 144.08 | — | 15.37 |
P/E links to full P/E history page with 30-year chart
CALX EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Calix, Inc.'s enterprise value stands at 60.3x EBITDA, 18% below its 5-year average of 73.5x. The Technology sector median is 16.7x, placing the stock at a 260% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 3.61 | 2.72 | 2.86 | 5.37 | 7.94 | 3.29 | 1.04 | 1.12 | 0.57 | 0.71 |
| EV / EBITDA | 60.32 | 93.28 | — | 70.51 | 69.57 | 60.66 | 35.26 | — | — | — | — |
| EV / EBIT | 111.21 | 105.66 | — | 116.35 | 88.50 | 73.86 | 49.71 | — | — | — | — |
| EV / FCF | — | 31.25 | 44.93 | 77.53 | 354.99 | 116.46 | 40.91 | — | — | — | 22.28 |
CALX Profitability
Margins and return-on-capital ratios measuring operating efficiency
Calix, Inc. earns an operating margin of 2.1%. ROE of 2.2% is modest. ROIC of 2.1% represents below-average returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 56.8% | 56.8% | 54.6% | 49.9% | 50.2% | 52.5% | 49.3% | 44.3% | 44.7% | 33.9% | 43.9% |
| Operating Margin | 2.1% | 2.1% | -5.2% | 2.5% | 6.1% | 10.9% | 6.8% | -3.6% | -4.2% | -16.0% | -6.1% |
| Net Profit Margin | 1.8% | 1.8% | -3.6% | 2.8% | 4.7% | 35.1% | 6.2% | -4.2% | -4.4% | -16.3% | -6.0% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 2.2% | 2.2% | -4.0% | 4.2% | 6.6% | 56.2% | 15.4% | -11.6% | -13.0% | -46.4% | -12.2% |
| ROA | 1.8% | 1.8% | -3.2% | 3.2% | 5.0% | 40.8% | 9.0% | -5.6% | -6.3% | -25.5% | -8.1% |
| ROIC | 2.1% | 2.1% | -4.6% | 3.0% | 6.8% | 14.7% | 14.8% | -8.1% | -10.4% | -41.1% | -11.3% |
| ROCE | 2.5% | 2.5% | -5.5% | 3.5% | 7.9% | 15.7% | 14.0% | -8.2% | -10.9% | -40.7% | -11.5% |
CALX Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Calix, Inc. carries a Debt/EBITDA ratio of 0.7x, which is very conservative (78% below the sector average of 2.9x). The company holds a net cash position — cash of $143M exceeds total debt of $26M, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.03 | 0.03 | 0.01 | 0.02 | 0.03 | 0.04 | 0.07 | 0.31 | 0.20 | 0.21 | — |
| Debt / EBITDA | 0.66 | 0.66 | — | 0.27 | 0.29 | 0.23 | 0.37 | — | — | — | — |
| Net Debt / Equity | — | -0.14 | -0.04 | -0.07 | -0.09 | -0.05 | -0.22 | 0.00 | -0.13 | -0.07 | -0.24 |
| Net Debt / EBITDA | -3.04 | -3.04 | — | -1.23 | -0.89 | -0.34 | -1.23 | — | — | — | — |
| Debt / FCF | — | -1.02 | -0.70 | -1.35 | -4.53 | -0.66 | -1.42 | — | — | — | -3.45 |
| Interest Coverage | — | — | — | — | — | 181.73 | 22.63 | -16.26 | -28.70 | -483.17 | -55.76 |
Net cash position: cash ($143M) exceeds total debt ($26M)
CALX Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Calix, Inc.'s current ratio of 4.24x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The quick ratio of 3.42x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory. The current ratio has improved from 3.19x to 4.24x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 4.24 | 4.24 | 4.46 | 3.19 | 3.31 | 3.19 | 2.64 | 1.25 | 1.22 | 1.27 | 1.81 |
| Quick Ratio | 3.42 | 3.42 | 3.68 | 2.48 | 2.41 | 2.50 | 2.12 | 0.90 | 0.87 | 1.02 | 1.44 |
| Cash Ratio | 2.38 | 2.38 | 2.27 | 1.17 | 1.46 | 1.59 | 1.32 | 0.41 | 0.35 | 0.31 | 0.64 |
| Asset Turnover | — | 0.94 | 0.89 | 1.10 | 0.98 | 0.92 | 1.27 | 1.34 | 1.39 | 1.73 | 1.29 |
| Inventory Turnover | 3.23 | 3.23 | 3.68 | 3.92 | 2.90 | 3.63 | 5.25 | 5.89 | 4.86 | 10.70 | 5.78 |
| Days Sales Outstanding | — | 36.27 | 34.82 | 44.25 | 39.45 | 45.78 | 46.81 | 40.01 | 55.43 | 57.49 | 40.84 |
CALX Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Calix, Inc. returns 3.8% to shareholders annually primarily through share buybacks. The earnings yield of 0.7% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 0.7% | 0.5% | — | 1.0% | 0.9% | 4.4% | 1.8% | — | — | — | — |
| FCF Yield | 4.7% | 3.1% | 2.2% | 1.3% | 0.3% | 0.9% | 2.4% | — | — | — | 3.9% |
| Buyback Yield | 3.8% | 2.5% | 0.5% | 2.9% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.9% | 3.4% |
| Total Shareholder Yield | 3.8% | 2.5% | 0.5% | 2.9% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.9% | 3.4% |
| Shares Outstanding | — | $70M | $66M | $69M | $69M | $68M | $62M | $55M | $53M | $50M | $49M |
Peer Comparison
Compare CALX with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 CALXYou | $2B | 146.0 | 60.3 | 21.2 | 56.8% | 2.1% | 2.2% | 2.1% | 0.7 |
 CIEN | $61B | 503.8 | 135.5 | 91.1 | 42.0% | 6.5% | 4.4% | 6.9% | 3.5 |
 VIAV | $11B | 314.5 | 83.7 | 176.0 | 56.8% | 6.5% | 4.8% | 5.5% | 5.2 |
 CSCO | $471B | 46.9 | 33.6 | 35.5 | 64.9% | 20.8% | 22.1% | 13.0% | 1.9 |
 ANET | $214B | 61.7 | 53.9 | 50.2 | 64.1% | 42.8% | 31.4% | 32.8% | — |
 COMM | $4B | -10.0 | 18.2 | 15.9 | 31.8% | 7.9% | — | 3.7% | 13.4 |
 NTGR | $630M | -20.2 | — | — | 36.2% | -5.1% | -6.3% | -8.4% | — |
 LITE | $61B | 2297.3 | 819.5 | — | 28.0% | -10.9% | 2.5% | -4.3% | 34.0 |
 COHR | $62B | -749.2 | 58.7 | 320.5 | 35.4% | 9.4% | 0.6% | 3.6% | 3.5 |
 MRVL | $272B | 101.2 | 104.2 | 194.6 | 51.0% | 16.3% | 19.3% | 6.0% | 1.8 |
 AVGO | $2.0T | 86.2 | 58.6 | 72.7 | 67.8% | 39.9% | 31.0% | 14.9% | 1.9 |
| Technology Median | — | 29.0 | 16.7 | 19.2 | 48.8% | 0.2% | 1.6% | 2.7% | 2.9 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 19 years · Updated daily
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CALX — Frequently Asked Questions
Quick answers to the most common questions about buying CALX stock.
What is Calix, Inc.'s P/E ratio?
Calix, Inc.'s current P/E ratio is 146.0x. The historical average is 74.0x. This places it at the 100th percentile of its historical range.
What is Calix, Inc.'s EV/EBITDA?
Calix, Inc.'s current EV/EBITDA is 60.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 61.3x.
What is Calix, Inc.'s ROE?
Calix, Inc.'s return on equity (ROE) is 2.2%. The historical average is -5.1%.
Is CALX stock overvalued?
Based on historical data, Calix, Inc. is trading at a P/E of 146.0x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What are Calix, Inc.'s profit margins?
Calix, Inc. has 56.8% gross margin and 2.1% operating margin.
How much debt does Calix, Inc. have?
Calix, Inc.'s Debt/EBITDA ratio is 0.7x, indicating low leverage. A ratio below 2x is generally considered financially healthy.