greeksoup/ stock research
Stock research / United States / CALX · Communications Services, Nec · NYSE

Calix, Inc. (CALX)

Compare with another name

Calix, Inc. (CALX) reported revenue of $293 million for Q2 FY2026, the quarter ended 27 June 2026, up 21.3% on the same quarter a year earlier. Net income was $17 million, and diluted earnings per share $0.26. The figures are the company's own, from the 10-Q it filed with the SEC on 21 July 2026.

Revenue$293 millionup 21.3%
Net income$17 million
Diluted EPS$0.26
QuarterQ2 FY2026ended 27 June 2026

Calix (CALX) in brief

Calix (CALX) reported revenue of $1.0 billion for fiscal 2025, the year ended 31 December 2025, up 20.3% on the year before.
Read moreNet income was $18 million and diluted earnings per share $0.26. Revenue was $832 million in fiscal 2024, $1.0 billion in fiscal 2023, $868 million in fiscal 2022 and $679 million in fiscal 2021. Net income in the same years was a loss of $30 million, $29 million, $41 million and $238 million. Over the twelve months to 27 June 2026, Calix reported revenue of $1.1 billion and net income of $51 million. Revenue grew 13.1% a year, compounded, over the five years to fiscal 2025. Calix had 63 million shares outstanding at the latest filed count. At 27 June 2026 it carried $0 million of debt and $69 million of cash. At the close of 9 October 2026 the market cap of Calix was $2.3 billion, 50.3 times its earnings over the last twelve months.

Ratios

From the filings

ROE7.2%
ROCE8.6%
Operating margin5.5%
Net margin4.6%
FCF margin7.7%
Interest covern/a
Debt to equity0.00
Cash conversion2.14
Share count, 1 year-3.6%
Sales CAGR, 3 years4.8%
Profit CAGR, 3 years-24.2%
EPS, TTM$0.74

At the close of 9 October 2026

Price$37.23
Market cap$2.3 billion
Stock P/E50.31
Price to book3.30
EV / EBITDA28.75
Dividend yield0.0%
Market cap / sales2.11
52-week high$68.42
52-week low$33.14
Price, 1 year-36.9%
Price CAGR, 3 years-6.4%
Price CAGR, 5 years-7.8%
Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest price, the last regular-hours trade on IEX. Calix, Inc.'s balance sheet shows no borrowings, so debt here is nil; lease liabilities are a separate line. Nothing here is a valuation or a view.
CALXgreeksoup.ai
Daily prices to 9 October 2026, adjusted for splits; from 28 September 2026 each day's price is the last regular-hours trade on IEX.
Read moreData provided for free by IEX. By accessing or using IEX Historical Data, you agree to the IEX Historical Data Terms of Use. Day by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Before the quarters on file begin, P/E, price to book and market cap to sales stand on each annual report from the day it was filed. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on CALX

Filings19 in twelve months: 9 current reports (8-K), about 4 results of operations; 3 other events; 1 shareholder vote; 1 officer or director change; 1 regulation FD disclosure
Planned insider sales11 Form 144 notices in twelve months, $57.7 million; latest 27 July 2026
Options tapeput/call 0.31 by open interest at the 9 October 2026 close; the straddle prices a 4.7% move to 16 October 2026
13F holders7 of the followed funds hold it; largest Geode Capital Management; 4 Schedule 13D or 13G filings in twelve months
Insider trading17 sales and 0 purchases on Form 4 in twelve months
Congress0 House trades disclosed in six months
Short interest5.3 million shares short, 4.33 days to cover at 30 September 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Quarterly results, the last 12 quarters

Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue264265226198201206220242265272280293
Cost of revenue12315110490.590.992.897.5106113115121133
Gross profit141113123108110113123136152157159160
Gross margin53%43%54%54%55%55%56%56%57%58%57%55%
R&D47.042.344.444.145.545.944.045.847.153.554.652.8
Operating income15.9-12.1-2.0-11.4-10.9-18.8-6.10.417.49.312.721.8
Operating margin6%-5%-1%-6%-5%-9%-3%0%7%3%5%7%
Pre-tax income18.1-9.00.5-8.7-7.8-15.6-3.03.420.313.415.223.6
Tax rate7%n/a78%n/an/an/an/a106%23%46%26%27%
Net income17.0-6.60.1-8.0-4.0-17.9-4.8-0.215.77.211.217.1
Net margin6%-2%0%-4%-2%-9%-2%-0%6%3%4%6%
Diluted EPS$0.24-$0.09$0.00-$0.12-$0.06-$0.27-$0.07$0.00$0.22$0.10$0.16$0.26
Operating cash flow15.814.914.722.316.015.417.239.432.346.014.616.5
Capital expenditure3.84.03.76.03.25.14.33.75.65.88.14.6
Free cash flow12.011.011.016.412.810.212.935.626.740.36.511.9
Buybacks32.444.03.70.00.07.040.033.63.516.617169.4
Shares outstanding66m65m66m66m66m66m66m65m66m67m64m63m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Income statement (profit and loss), 12 fiscal years and the trailing twelve months

FY2014FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Revenue4014074595104414245416798681,0408321,0001,111
Cost of revenue223217258337244236274323432521378432482
Gross profit178190201173197188267357435518454568629
Gross margin44.3%46.7%43.9%33.9%44.7%44.3%49.3%52.5%50.2%49.9%54.6%56.8%56.6%
Research and development80.389.710712890.081.285.3102132178180190208
Operating income-20.4-26.5-28.1-81.6-18.5-15.436.873.952.625.6-43.021.061.2
Operating margin-5.1%-6.5%-6.1%-16.0%-4.2%-3.6%6.8%10.9%6.1%2.5%-5.2%2.1%5.5%
Interest expense0.81.10.6n/an/an/an/an/an/an/an/an/an/a
Pre-tax income-20.2-25.8-27.1-81.8-18.8-16.534.372.754.034.8-31.634.272.6
Income tax0.60.50.31.20.51.20.8-16613.05.4-1.916.321.4
Effective tax raten/an/an/an/an/an/a2.3%-228.1%24.1%15.6%n/a47.7%29.4%
Net income-20.8-26.3-27.4-83.0-19.3-17.733.523841.029.3-29.717.951.2
Net margin-5.2%-6.5%-6.0%-16.3%-4.4%-4.2%6.2%35.1%4.7%2.8%-3.6%1.8%4.6%
Diluted EPS-$0.41-$0.51-$0.56-$1.66-$0.37-$0.32$0.54$3.51$0.60$0.42-$0.45$0.26$0.74
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
From each year's 10-K, linked; TTM is the last four quarters.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Revenue by product or service

FY2023FY2024FY2025Share
latest year
Appliance93169482682.6%
Software and service10813717417.4%
ApplianceSoftware and service
1,040FY2023832FY20241,000FY2025

$ million; hover a block for its figure and share

From the latest 10-K, in the company's own words.
Read moreA year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Revenue by region

FY2023FY2024FY2025Share
latest year
United States94476593593.5%
Europe54.334.333.43.3%
Americas excluding U.S.32.725.625.32.5%
Rest of world8.47.06.50.6%
United StatesEuropeAmericas excluding U.S.Rest of world
1,040FY2023832FY20241,000FY2025

$ million; hover a block for its figure and share

From the latest 10-K, in the company's own words.
Read moreA year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Cash flow and capital returned

FY2014FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Operating cash flow38.1-5.324.4-62.83.64.751.456.827.256.368.4135110
Capital expenditure12.07.39.88.010.413.47.810.514.117.918.119.424.1
Free cash flow26.1-12.614.6-70.8-6.9-8.743.646.313.138.450.311685.4
Free cash flow margin6.5%-3.1%3.2%-13.9%-1.6%-2.1%8.1%6.8%1.5%3.7%6.1%11.6%7.7%
Cash from investing-75.44.712.119.7-0.1-13.4-60.8-111-24.1-6.2-110-6.474.6
Cash from financing3.6-24.1-9.232.07.56.042.124.425.1-65.920.9-28.4-191
Depreciation and amortisation27.828.814.111.09.2n/an/an/a14.316.619.617.717.9
Share-based compensation16.013.814.312.417.511.214.024.244.862.870.887.979.9
Buybacks0.027.212.80.00.0n/an/a0.00.086.410.793.6260
Dividend per share$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00n/a
Diluted shares, weightedn/an/an/an/a53m55m62m68m69m69m66m69m66m
Shares outstanding at period end52m50m49m52m54m56m62m64m66m65m66m67m63m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
Cash paid in the year, from the cash flow statement.
Read moreThe dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

FY2014FY2015FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Funded by
Shareholders' equity273236213145152154280568680719781859710
Debtn/an/an/an/an/an/an/an/a0.00.00.00.00.0
Operating lease liabilitiesn/an/an/an/a0.014.312.912.48.47.43.712.811.2
Other liabilities97.688.1143150165148134161197215155187233
Total liabilities and equity3703243552953173174277428859429391,059954
Owned
Fixed assets20.117.118.015.724.921.520.421.825.829.531.237.837.6
Goodwill116116116116116116116116116116116116116
Intangible assets25.26.60.8n/a0.012.19.56.94.3n/an/an/an/a
Investments62.950.027.70.0n/an/an/an/an/an/an/a245125
Securities held for sale or to maturityn/an/an/an/an/a0.053.0153n/an/an/an/an/a
Cash and equivalents48.823.650.439.849.646.880.851.379.163.443.214368.9
Receivables30.747.251.380.467.046.569.485.293.812679.399.4136
Inventory46.847.744.531.550.240.252.388.9149133103134180
Other assets19.515.546.511.59.133.525.8219417474567283289
Total assets3703243552953173174277428859429391,059954
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
At the fiscal year end; the TTM column is the latest quarter end.
Read moreBoth totals are the company's own. Other liabilities is the filed total less the rows above it: payables, deferred revenue, taxes, borrowings the rows above do not carry and the rest; other assets is the same on the other side. Investments add the current and non-current lines as filed. Debt is the company's own stated total where it files one, otherwise its long-term debt with the current maturities, never parts added together. A row is left blank in a year where the lines shown overlap and the remainder would fall below nil.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compounded9.4%13.1%4.8%27.8%
Profit growth, compoundedn/a-11.8%-24.2%n/a
Return on equity, average-3.2%10.1%0.8%2.1%
Yearly growth, compounded; TTM is the last four quarters against the four before.
Read moreReturn on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Questions

What was Calix's revenue in fiscal 2025?

Calix (CALX) reported revenue of $1.0 billion for fiscal 2025, the year ended 31 December 2025, up 20.3% on the year before.

How much did Calix earn in fiscal 2025?

Net income was $18 million for fiscal 2025, and diluted earnings per share $0.26.

What is Calix's P/E ratio?

At the close of 9 October 2026, Calix traded at 50.3 times its earnings over the twelve months to 27 June 2026.

What is Calix's market cap?

The market cap of Calix was $2.3 billion at the close of 9 October 2026.

How much debt does Calix have?

At 27 June 2026 Calix carried $0 million of debt and $69 million of cash.

Peers: Communication

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
EchoStar Corp. ECHO$33.4 billionn/a-40.1%-112.7%-5.2%1.13n/a
Viasat Inc. VSAT$9.9 billionn/a-0.6%2.4%1.3%1.25n/a
Lumen Technologies, Inc. LUMN$5.4 billionn/an/a1.7%-7.7%n/a0.0%
Iridium Communications Inc. IRDM$5.0 billion53.9519.7%23.8%3.1%3.731.3%
Nexstar Media Group, Inc. NXST$5.0 billion30.968.3%17.8%10.5%5.184.6%
Versant Media Group, Inc. VSNT$4.3 billion3.7714.4%25.5%n/a0.36n/a
Telephone & Data Systems Inc. TDS$3.9 billionn/an/an/an/a0.130.5%
Adeia Inc. ADEA$2.6 billion22.1325.7%41.6%24.3%0.810.8%
Calix, Inc. CALX$2.3 billion50.317.2%5.5%27.8%0.000.0%
Ziff Davis, Inc. ZD$2.0 billion3.2028.8%5.5%-8.5%0.390.0%
Uniti Group Inc. UNIT$1.6 billion2.54666.9%3.2%n/a65.860.0%
Cogent Communications Holdings, Inc. CCOI$437 millionn/an/a8.0%-4.5%n/a35.7%
All 26 in Communication
CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Verizon Communications Inc. VZ$173.0 billion10.8515.4%20.5%1.4%1.366.6%
T-Mobile US, Inc. TMUS$159.7 billion15.5618.8%19.8%9.7%1.502.6%
AT&T Inc. T$151.9 billion7.3417.1%20.1%2.6%1.065.0%
Spotify Technology S.A. SPOT *$108.9 billion44.7226.6%12.8%9.7%0.18n/a
Warner Bros. Discovery, Inc. WBD$77.6 billionn/a-9.6%-3.5%-6.1%0.98n/a
Comcast Corp. CMCSA$73.7 billion6.6812.5%14.7%0.6%0.946.4%
Vodafone Group Public Limited Company VOD *$35.9 billionn/a-0.8%7.0%8.0%1.043.5%
Chunghwa Telecom Co. Ltd. CHT *$35.7 billion29.5610.1%20.6%2.7%0.073.5%
EchoStar Corp. ECHO$33.4 billionn/a-40.1%-112.7%-5.2%1.13n/a
Fox Corp. FOXA$27.4 billion16.2614.5%n/a5.1%0.57n/a
Fox Corp. FOX$24.5 billion14.5614.5%n/a5.1%0.57n/a
Roku, Inc. ROKU$22.6 billion65.3212.6%5.2%18.5%0.00n/a
Tencent Music Entertainment Group TME *$13.2 billionn/a13.8%40.6%15.8%0.042.1%
Charter Communications, Inc. CHTR$12.5 billion2.6829.0%23.3%-1.5%5.54n/a
Viasat Inc. VSAT$9.9 billionn/a-0.6%2.4%1.3%1.25n/a
Lumen Technologies, Inc. LUMN$5.4 billionn/an/a1.7%-7.7%n/a0.0%
Iridium Communications Inc. IRDM$5.0 billion53.9519.7%23.8%3.1%3.731.3%
Nexstar Media Group, Inc. NXST$5.0 billion30.968.3%17.8%10.5%5.184.6%
Versant Media Group, Inc. VSNT$4.3 billion3.7714.4%25.5%n/a0.36n/a
Telephone & Data Systems Inc. TDS$3.9 billionn/an/an/an/a0.130.5%
Adeia Inc. ADEA$2.6 billion22.1325.7%41.6%24.3%0.810.8%
Calix, Inc. CALX$2.3 billion50.317.2%5.5%27.8%0.000.0%
Ziff Davis, Inc. ZD$2.0 billion3.2028.8%5.5%-8.5%0.390.0%
Uniti Group Inc. UNIT$1.6 billion2.54666.9%3.2%n/a65.860.0%
Shenandoah Telecommunications Co. SHEN$576 millionn/a-4.6%-5.3%5.0%0.851.1%
Cogent Communications Holdings, Inc. CCOI$437 millionn/an/a8.0%-4.5%n/a35.7%
4 companies share its SEC industry code (Communications Services, Nec); the rest are the names nearest in size in its wider industry, Communication, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

Filings

FilingPeriodFiledWhere
10-Q27 June 202621 July 2026EDGAR
10-Q28 March 202622 April 2026EDGAR
10-K31 December 202520 February 2026EDGAR
10-Q27 September 202530 October 2025EDGAR
10-Q28 June 202522 July 2025EDGAR
10-Q29 March 202522 April 2025EDGAR
10-K31 December 202421 February 2025EDGAR
10-Q28 September 202429 October 2024EDGAR
10-Q29 June 202423 July 2024EDGAR
10-Q30 March 202423 April 2024EDGAR

The same record on your computer

GreekSoup is also a free program for your own computer. It reads these same filings for the names you follow, refreshed as they land, with no account. One pasted line installs it.

Install