Ceragon Networks Ltd (CRNT) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Sep 3, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 20-F for FY2025, filed Apr 15, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the CRNT SEC filings page.
Ceragon Networks Ltd (CRNT) reported $338.7M in revenue for fiscal year 2025, down 14.1% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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).
Ceragon’s 2025 slowdown exposed how quickly operating profit compresses, while controlled investment and lower leverage preserved positive free cash flow.
The operating-profit reset was far sharper than the top-line change: operating margin dropped from9.8% to2.1% between FY2024 and FY2025, indicating that operating costs absorbed much of the sales decline rather than gross economics collapsing. Yet FY2025 operating cash flow reached$31.6M despite net income of-$2.1M , so the reported loss did not translate into a cash deficit in that period.
Gross margin remained near its FY2024 level, but operating margin fell to
Balance-sheet leverage eased: debt-to-equity moved from 1.1x to 0.8x between FY2024 and FY2025. The current ratio also improved from 1.7x to 1.9x; combined with positive free cash flow, this indicates less reliance on balance-sheet financing while earnings weakened.
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. 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.
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 45/100, indicating healthy but not exceptional operating efficiency. This is down from 9.8% the prior year.
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 27/100.
Ceragon Networks Ltd has a moderate D/E ratio of 0.84. This balance of debt and equity financing earns a leverage score of 51/100.
Ceragon Networks Ltd's current ratio of 1.87 indicates adequate short-term liquidity, earning a score of 55/100. The company can meet its near-term obligations, though with limited headroom.
Ceragon Networks Ltd has a free cash flow margin of 5.3%, earning a moderate score of 44/100. The company generates positive cash flow after capital investments, but with room for improvement.
Ceragon Networks Ltd posts a -1.2% return on equity (ROE), meaning it loses $1 for every $100 of shareholders' equity. This results in a returns score of 55/100. This is down from 14.5% the prior year.
Ceragon Networks Ltd scores 1.21, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($189.0M) relative to total liabilities ($144.3M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Ceragon Networks Ltd passes 4 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 2 of 4 profitability signals pass, all 2 leverage/liquidity signals pass, neither operating efficiency signal passes.
Ceragon Networks Ltd reported a net loss of $2.1M while generating $31.6M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.
Ceragon Networks Ltd earns $1.44 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
Earnings & Revenue
None of these metrics is reported for Q4 2025.
Cash & Balance Sheet
Ceragon Networks Ltd held $38.4M in cash as of Q4 2025; long-term debt is not reported for that period.
Not reported for Q4 2025.
Not reported for Q4 2025.
Margins & Returns
None of these metrics is reported for Q4 2025.
Capital Allocation
None of these metrics is reported for Q4 2025.
CRNT Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EBITDA, Interest Expense, Income Tax, Net Income, EPS (Basic), EPS (Diluted), Diluted Shares (Avg).
CRNT Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q4'2520-F | Q2'256-K | Q4'2420-F | Q2'2410-Q | Q4'2310-K | Q2'2310-Q | Q4'2210-K | Q2'2210-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $317.0M-8.1% | $328.4M+9.8% | $345.0M+15.6% | $299.0M+1.6% | $298.5M+3.2% | $294.5M-3.4% | $289.3M-1.1% | $305.0M+3.6% |
| Current Assets | $225.2M-13.7% | $234.2M+8.3% | $261.0M+19.8% | $216.3M+0.2% | $217.9M+3.4% | $215.8M-0.9% | $210.7M+3.6% | $217.8M+5.5% |
| Cash & Equivalents | $38.4M+8.7% | $29.2M+11.1% | $35.3M+25.1% | $26.3M+7.2% | $28.2M+23.0% | $24.5M+4.0% | $22.9M+34.4% | $23.6M-17.7% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $61.6M+3.2% | $59.9M+0.8% | $59.7M-13.3% | $59.5M-12.3% | $68.8M-4.4% | $67.8M+11.7% | $72.0M+17.3% | $60.7M+16.0% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill | $11.0M+42.0% | $11.0M+42.5% | $7.7M0.0% | $7.7M | $7.7M | N/A | $0 | N/A |
| Total Liabilities | $144.3M-19.2% | $156.6M+0.7% | $178.7M+8.6% | $155.5M-7.5% | $164.5M-3.0% | $168.1M-2.8% | $169.5M+9.1% | $173.0M+16.8% |
| Current Liabilities | $120.2M-20.6% | $125.9M-1.1% | $151.4M+13.9% | $127.3M-3.7% | $133.0M+0.1% | $132.2M-2.5% | $132.8M+14.8% | $135.7M+27.2% |
| Non-Current Liabilities | $24.1M-11.6% | $30.7M+9.0% | $27.2M-13.7% | $28.2M-21.3% | $31.6M-14.0% | $35.8M-3.9% | $36.7M-7.6% | $37.3M-10.0% |
| Total Equity | $172.8M+3.9% | $171.8M+19.7% | $166.3M+24.1% | $143.5M+13.5% | $134.0M+11.9% | $126.4M-4.2% | $119.8M-12.7% | $132.0M-9.8% |
| Retained Earnings | -$253.2M-0.8% | -$253.4M+5.1% | -$251.1M+8.7% | -$267.0M+3.7% | -$275.2M+2.2% | -$277.4M-4.5% | -$281.4M-7.5% | -$265.5M-6.3% |
Not reported in any period shown, so not listed: Accounts Receivable, Long-Term Debt.
CRNT Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Operating Cash Flow, Depreciation & Amortization, Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Investing Cash Flow, Financing Cash Flow, Dividends Paid, Share Buybacks.
CRNT Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Return on Equity, Return on Assets, Asset Turnover, FCF Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Ceragon Networks Ltd CRNT | FY2025 | $338.7M | -$2.1M | -0.6% | $189.0M | 46/100 |
| Lantronix LTRX | FY2026 | $120.9M | -$4.2M | -3.5% | $240.5M | 45/100 |
| Inseego Corp INSG | FY2025 | $166.2M | $838K | 0.5% | $66.7M | 39/100 |
| Audiocodes AUDC | FY2025 | $245.6M | $9.0M | 3.6% | $241.3M | 52/100 |
| Bk Technologies, Inc. BKTI | FY2025 | $86.1M | $13.5M | 15.7% | $274.1M | 51/100 |
| Silicom Ltd SILC | FY2025 | $61.9M | -$11.5M | -18.5% | $230.2M | 54/100 |
Where Ceragon Networks Ltd Ranks
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.
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 P/E ratio?
Ceragon Networks Ltd (CRNT) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $189.0M as of Sep 3, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Ceragon Networks Ltd's price-to-sales ratio?
Ceragon Networks Ltd (CRNT) trades at 0.6x sales, its market capitalization divided by revenue of $338.7M revenue, FY2025. The market capitalization is $189.0M as of Sep 3, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Ceragon Networks Ltd's Altman Z-Score?
Ceragon Networks Ltd (CRNT) has an Altman Z-Score of 1.21, 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 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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) reported a net loss of $2.1M while generating $31.6M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal. 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 1.44x, 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 46 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.