Symbols / CALX Stock $40.04 -0.55% Calix, Inc.

Technology • Software - Infrastructure • United States • NYQ
CALX (Stock) Chart
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Stock Fundamentals
Scroll to Statements
Index EQUITY
Sector Technology
Industry Software - Infrastructure
CEO Mr. Michael Weening
Exch · Country NYQ · United States
Market Cap 2.55B
Enterprise Value 2.34B
Income 33.88M
Sales 1.06B
FCF (ttm) 100.55M
Book/sh 11.46
Cash/sh 3.81
Employees 1,921
Insider 10d —
IPO Mar 24, 2010
Div forward ($/yr)
Div TTM ($/yr)
Dividend Yield
Ex-Div Date
5Y Avg Yield
Yield vs 5Y Avg
Payout 0.00%
P/E 81.71
Forward P/E 15.99
PEG 3.34
P/S 2.41
P/B 3.49
P/C —
EV/EBITDA 40.61
EV/Sales 2.21
Quick Ratio 2.02
Current Ratio 3.29
Debt/Eq 1.99
LT Debt/Eq —
EPS (ttm) 0.49
EPS next Y 2.50
EPS Growth —
Revenue Growth 27.10%
EPS Gr Q/Q —
Rev Gr Q/Q —
Earnings (next) 2026-07-20
Earnings (prior) 2026-04-21
ROA 2.66%
ROE 4.50%
ROIC —
Gross Margin 57.08%
Oper. Margin 4.54%
Profit Margin 3.20%
Shs Outstand 63.78M
Shs Float 57.68M
Insider Own 9.52%
Instit Own 93.99%
Short Float 13.24%
Short Ratio 5.17
Short Interest 6.06M
52W High 71.22
vs 52W High -43.78%
52W Low 39.32
vs 52W Low 1.83%
Beta 1.27
Impl. Vol. 34.86%
Rel Volume 0.28
Avg Volume 960.16K
Volume 264.87K
Target (mean) $66.00
Tgt Median $63.50
Tgt Low $52.00
Tgt High $85.00
# Analysts 6
Recom None
Prev Close $40.26
Price $40.04
Change -0.55%
About

Calix, Inc., together with its subsidiaries, engages in the provision of 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 cloud and software platforms, and systems and services enable broadband service providers (BSPs) to provide a range of services. It offers Calix Cloud platform comprising Calix Engagement Cloud, Calix Operations Cloud, and Calix Service Cloud, which are configurable to display role-based insights and enable BEPs to anticipate and target new revenue-generating services and applications through mobile application, such as CommandIQ for residents and CommandWorx for businesses; Calix Intelligent Access, an access network solution for automated and intelligent networks; and Calix Unlimited Subscriber, a solution for subscriber managed services. It also provides SmartLife managed services, including SmartHome managed services and applications to enhance, operate and secure the connected experience of subscribers in their home for Wi-Fi, advanced content control, network security, connected cameras, and social media monitoring; SmartTown managed services that reimagine community Wi-Fi as a ubiquitous, secure, and managed experience across a BEP's footprint; SmartBiz managed services that address the business networking and productivity needs of business owners with an all-in-one managed service; SMARTMDU managed services provide purpose-built, flexible connectivity solutions for multi-family properties of any type. In addition, the company offers Wi-Fi systems under GigaSpire and GigaPro brands to be ready for deployment as a complete subscriber experience solution for BEP's residential and business subscribers. It provides its products through its direct sales force and resellers. Calix, Inc. was incorporated in 1999 and is headquartered in San Jose, California.

Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$66.00
Mean price target
2. Current target
$40.00
Latest analyst target
3. DCF / Fair value
$28.38
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$40.00
Low
$52.00
High
$85.00
Mean
$66.00

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-04-23 main Rosenblatt Buy → Buy $70
2026-04-23 main Needham Buy → Buy $62
2026-04-22 main JP Morgan Overweight → Overweight $65
2026-04-22 main Rosenblatt Buy → Buy $70
2026-04-16 main JP Morgan Overweight → Overweight $70
2026-03-31 main Rosenblatt Buy → Buy $70
2026-01-30 main Rosenblatt Buy → Buy $70
2026-01-30 main Needham Buy → Buy $70
2026-01-27 main Rosenblatt Buy → Buy $85
2026-01-15 up JP Morgan Neutral → Overweight $90
2025-11-24 reit Needham Buy → Buy $82
2025-10-31 main JP Morgan Neutral → Neutral $75
2025-10-31 main Rosenblatt Buy → Buy $85
2025-10-31 main Needham Buy → Buy $82
2025-09-15 main Roth Capital Buy → Buy $69
2025-07-23 main Rosenblatt Buy → Buy $65
2025-07-22 main Needham Buy → Buy $70
2025-07-22 main Rosenblatt Buy → Buy $65
2025-07-17 main JP Morgan Neutral → Neutral $52
2025-07-15 main Rosenblatt Buy → Buy $56
Insider Transactions
Filed Date Insider Relationship Transaction Shares Price Value SEC
2026-04-27 RUSSO CARL E Director and Beneficial Owner of more than 10% of a Class of Security — 25,000 $43.17 $1,081,601
2026-04-08 RUSSO CARL E Director and Beneficial Owner of more than 10% of a Class of Security — 40,000 $0.00 $0
2026-02-25 RUSSO CARL E Director and Beneficial Owner of more than 10% of a Class of Security — 10,000 $12.63 $126,300
2026-02-13 WEENING MICHAEL Chief Executive Officer — 439 $45.32 $19,896
2026-02-13 DUROCHER JOHN Chief Operating Officer — 439 $45.32 $19,896
2026-02-13 SINDELAR CORY JOSEPH Chief Financial Officer — 439 $45.32 $19,896
2026-02-03 RUSSO CARL E Director and Beneficial Owner of more than 10% of a Class of Security — 25,000 $46.93 $1,181,690
2026-02-02 SINDELAR CORY JOSEPH Chief Financial Officer — 27,000 $5.05 $136,350
2026-01-07 RUSSO CARL E Director and Beneficial Owner of more than 10% of a Class of Security — 10,000 $12.63 $126,300
2025-11-24 RUSSO CARL E Director and Beneficial Owner of more than 10% of a Class of Security — 10,000 $12.63 $126,300
Financials
Statement View
Amounts in millions (2 decimals, no suffix) • EPS per share (2 decimals) • Trend = period evolution • YoY Growth = previous period %
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Revenue
1,000.01
+20.26%
831.52
-20.02%
1,039.59
+19.79%
867.83
Operating Revenue
1,000.01
+20.26%
831.52
-20.02%
1,039.59
+19.79%
867.83
Cost Of Revenue
431.69
+14.23%
377.92
-27.50%
521.28
+20.55%
432.40
Reconciled Cost Of Revenue
431.69
+14.23%
377.92
-27.50%
521.28
+20.55%
432.40
Gross Profit
568.32
+25.29%
453.59
-12.49%
518.32
+19.04%
435.43
Operating Expense
547.33
+10.21%
496.63
+0.79%
492.73
+28.71%
382.82
Research And Development
190.36
+5.83%
179.87
+1.18%
177.77
+34.68%
131.99
Selling General And Administration
356.97
+12.69%
316.76
+0.57%
314.96
+25.57%
250.82
Selling And Marketing Expense
248.64
+14.12%
217.88
+1.54%
214.56
+22.92%
174.55
General And Administrative Expense
108.33
+9.56%
98.88
-1.51%
100.39
+31.62%
76.28
Other Gand A
108.33
+9.56%
98.88
-1.51%
100.39
+31.62%
76.28
Total Expenses
979.02
+11.95%
874.55
-13.75%
1,014.01
+24.39%
815.22
Operating Income
20.99
+148.78%
-43.03
-268.20%
25.59
-51.37%
52.61
Total Operating Income As Reported
20.99
+148.78%
-43.03
-268.20%
25.59
-51.37%
52.61
EBITDA
38.70
+264.79%
-23.48
-155.63%
42.22
-36.92%
66.92
Normalized EBITDA
38.70
+264.79%
-23.48
-155.63%
42.22
-36.92%
66.92
Reconciled Depreciation
17.71
-9.41%
19.55
+17.55%
16.63
+16.18%
14.31
EBIT
20.99
+148.78%
-43.03
-268.20%
25.59
-51.37%
52.61
Total Unusual Items
—
—
0.00
0.00
Total Unusual Items Excluding Goodwill
—
—
0.00
0.00
Special Income Charges
—
—
0.00
0.00
Impairment Of Capital Assets
—
—
—
—
Restructuring And Mergern Acquisition
—
—
0.00
0.00
Net Income
17.88
+160.12%
-29.75
-201.44%
29.32
-28.49%
41.01
Pretax Income
34.17
+207.97%
-31.65
-191.05%
34.76
-35.69%
54.04
Net Non Operating Interest Income Expense
13.43
+8.84%
12.34
+27.19%
9.70
+383.03%
2.01
Interest Expense Non Operating
—
—
—
—
Net Interest Income
13.43
+8.84%
12.34
+27.19%
9.70
+383.03%
2.01
Interest Expense
—
—
—
—
Interest Income Non Operating
13.43
+8.84%
12.34
+27.19%
9.70
+383.03%
2.01
Interest Income
13.43
+8.84%
12.34
+27.19%
9.70
+383.03%
2.01
Other Income Expense
-0.26
+73.19%
-0.95
-79.51%
-0.53
+7.80%
-0.58
Other Non Operating Income Expenses
-0.26
+73.19%
-0.95
-79.51%
-0.53
+7.80%
-0.58
Tax Provision
16.28
+957.50%
-1.90
-134.96%
5.43
-58.32%
13.03
Tax Rate For Calcs
0.00
+250.00%
0.00
-61.54%
0.00
-35.27%
0.00
Tax Effect Of Unusual Items
0.00
0.00
0.00
0.00
Net Income Including Noncontrolling Interests
17.88
+160.12%
-29.75
-201.44%
29.32
-28.49%
41.01
Net Income From Continuing Operation Net Minority Interest
17.88
+160.12%
-29.75
-201.44%
29.32
-28.49%
41.01
Net Income From Continuing And Discontinued Operation
17.88
+160.12%
-29.75
-201.44%
29.32
-28.49%
41.01
Net Income Continuous Operations
17.88
+160.12%
-29.75
-201.44%
29.32
-28.49%
41.01
Normalized Income
17.88
+160.12%
-29.75
-201.44%
29.32
-28.49%
41.01
Net Income Common Stockholders
17.88
+160.12%
-29.75
-201.44%
29.32
-28.49%
41.01
Diluted EPS
0.26
+157.78%
-0.45
-197.83%
0.46
-23.33%
0.60
Basic EPS
0.27
+160.00%
-0.45
-193.75%
0.48
-23.81%
0.63
Basic Average Shares
66.04
+0.25%
65.88
-0.15%
65.98
+1.42%
65.06
Diluted Average Shares
69.31
+5.20%
65.88
-4.96%
69.32
+0.59%
68.91
Diluted NI Availto Com Stockholders
17.88
+160.12%
-29.75
-201.44%
29.32
-28.49%
41.01
Total Other Finance Cost
—
—
-9.70
-383.03%
-2.01
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Assets
1,058.52
+12.70%
939.27
-0.28%
941.87
+6.45%
884.84
Current Assets
691.55
+18.27%
584.74
-2.21%
597.96
+9.24%
547.37
Cash Cash Equivalents And Short Term Investments
388.10
+30.63%
297.09
+34.83%
220.35
-8.84%
241.72
Cash And Cash Equivalents
143.09
+231.51%
43.16
-31.93%
63.41
-19.81%
79.07
Cash Equivalents
119.44
+430.90%
22.50
-50.41%
45.37
+13.75%
39.88
Cash Financial
23.64
+14.42%
20.66
+14.55%
18.04
-53.97%
39.19
Other Short Term Investments
245.02
-3.51%
253.93
+61.80%
156.94
-3.51%
162.64
Receivables
99.37
+25.27%
79.32
-37.06%
126.03
+34.35%
93.80
Accounts Receivable
99.37
+25.27%
79.32
-37.06%
126.03
+34.35%
93.80
Gross Accounts Receivable
99.73
+25.24%
79.63
-36.97%
126.33
+34.11%
94.20
Allowance For Doubtful Accounts Receivable
-0.36
-17.36%
-0.31
-2.30%
-0.30
+23.43%
-0.40
Inventory
133.74
+30.19%
102.73
-22.75%
132.99
-10.84%
149.16
Raw Materials
2.33
-89.29%
21.73
-1.74%
22.12
+3356.09%
0.64
Finished Goods
131.41
+62.25%
80.99
-26.95%
110.87
-25.35%
148.52
Prepaid Assets
13.89
-77.82%
62.62
-19.85%
78.13
+100.01%
39.06
Other Current Assets
56.46
+31.37%
42.98
+6.20%
40.47
+71.27%
23.63
Total Non Current Assets
366.97
+3.51%
354.53
+3.09%
343.91
+1.91%
337.46
Net PPE
52.48
+40.43%
37.37
-3.50%
38.72
+10.27%
35.12
Gross PPE
113.47
+22.06%
92.96
+3.17%
90.11
+12.55%
80.06
Accumulated Depreciation
-60.99
-9.72%
-55.59
-8.19%
-51.38
-14.34%
-44.94
Properties
0.00
0.00
0.00
0.00
Buildings And Improvements
14.66
+135.92%
6.22
-32.89%
9.26
-0.23%
9.28
Machinery Furniture Equipment
27.65
+2.50%
26.98
-3.21%
27.87
+11.76%
24.94
Other Properties
66.75
+15.90%
57.59
+13.26%
50.85
+15.30%
44.11
Leases
4.40
+102.62%
2.17
+2.40%
2.12
+22.66%
1.73
Goodwill And Other Intangible Assets
116.17
+0.00%
116.17
+0.00%
116.17
+0.00%
116.17
Goodwill
116.17
+0.00%
116.17
+0.00%
116.17
+0.00%
116.17
Other Intangible Assets
—
—
—
4.25
Non Current Deferred Assets
165.64
-6.74%
177.60
+5.91%
167.69
+0.40%
167.03
Non Current Deferred Taxes Assets
165.64
-6.74%
177.60
+5.91%
167.69
+0.40%
167.03
Other Non Current Assets
32.68
+39.74%
23.39
+9.70%
21.32
+11.38%
19.14
Total Liabilities Net Minority Interest
199.30
+25.88%
158.33
-28.96%
222.88
+8.58%
205.27
Current Liabilities
163.25
+24.48%
131.14
-30.11%
187.64
+13.43%
165.42
Payables And Accrued Expenses
80.87
+36.59%
59.20
-43.14%
104.12
+10.22%
94.47
Payables
46.27
+83.06%
25.27
-35.30%
39.06
-15.06%
45.99
Accounts Payable
41.52
+105.30%
20.23
-41.79%
34.75
-16.09%
41.41
Current Accrued Expenses
34.60
+1.97%
33.93
-47.85%
65.06
+34.21%
48.48
Pensionand Other Post Retirement Benefit Plans Current
44.10
+22.48%
36.00
-2.01%
36.74
+32.10%
27.81
Total Tax Payable
4.74
-6.02%
5.05
+16.93%
4.32
-5.76%
4.58
Current Debt And Capital Lease Obligation
2.84
-34.07%
4.30
+3.89%
4.14
+4.89%
3.95
Current Debt
—
—
—
—
Other Current Borrowings
—
—
—
—
Current Capital Lease Obligation
2.84
-34.07%
4.30
+3.89%
4.14
+4.89%
3.95
Current Deferred Liabilities
35.45
+12.06%
31.63
-25.81%
42.64
+8.78%
39.19
Current Deferred Revenue
35.45
+12.06%
31.63
-25.81%
42.64
+8.78%
39.19
Total Non Current Liabilities Net Minority Interest
36.05
+32.63%
27.18
-22.86%
35.24
-11.56%
39.85
Long Term Debt And Capital Lease Obligation
12.76
+242.90%
3.72
-49.87%
7.42
-12.09%
8.44
Long Term Capital Lease Obligation
12.76
+242.90%
3.72
-49.87%
7.42
-12.09%
8.44
Non Current Deferred Liabilities
19.89
-4.76%
20.88
-16.01%
24.86
-0.83%
25.07
Non Current Deferred Revenue
19.89
-4.76%
20.88
-16.01%
24.86
-0.83%
25.07
Other Non Current Liabilities
3.41
+32.08%
2.58
-12.69%
2.96
-53.32%
6.33
Stockholders Equity
859.22
+10.02%
780.94
+8.62%
718.98
+5.80%
679.57
Common Stock Equity
859.22
+10.02%
780.94
+8.62%
718.98
+5.80%
679.57
Capital Stock
1.68
+1.02%
1.66
+2.09%
1.63
-1.03%
1.64
Common Stock
1.68
+1.02%
1.66
+2.09%
1.63
-1.03%
1.64
Preferred Stock
0.00
0.00
0.00
0.00
Share Issued
67.12
+1.03%
66.43
+2.12%
65.05
-1.04%
65.73
Ordinary Shares Number
67.12
+1.03%
66.43
+2.12%
65.05
-1.04%
65.73
Additional Paid In Capital
1,230.19
+5.14%
1,170.02
+8.50%
1,078.39
+0.77%
1,070.10
Retained Earnings
-372.24
+4.58%
-390.13
-8.25%
-360.38
+7.52%
-389.70
Gains Losses Not Affecting Retained Earnings
-0.41
+33.33%
-0.61
+7.13%
-0.66
+73.35%
-2.47
Other Equity Adjustments
-0.41
+33.33%
-0.61
+7.13%
-0.66
+73.35%
-2.47
Total Equity Gross Minority Interest
859.22
+10.02%
780.94
+8.62%
718.98
+5.80%
679.57
Total Capitalization
859.22
+10.02%
780.94
+8.62%
718.98
+5.80%
679.57
Working Capital
528.30
+16.47%
453.59
+10.55%
410.31
+7.43%
381.95
Invested Capital
859.22
+10.02%
780.94
+8.62%
718.98
+5.80%
679.57
Total Debt
15.59
+94.35%
8.02
-30.61%
11.56
-6.68%
12.39
Capital Lease Obligations
15.59
+94.35%
8.02
-30.61%
11.56
-6.68%
12.39
Net Tangible Assets
743.04
+11.78%
664.76
+10.28%
602.81
+7.00%
563.39
Tangible Book Value
743.04
+11.78%
664.76
+10.28%
602.81
+7.00%
563.39
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Operating Cash Flow
134.95
+97.30%
68.40
+21.60%
56.25
+106.93%
27.18
Cash Flow From Continuing Operating Activities
134.95
+97.30%
68.40
+21.60%
56.25
+106.93%
27.18
Net Income From Continuing Operations
17.88
+160.12%
-29.75
-201.44%
29.32
-28.49%
41.01
Depreciation Amortization Depletion
17.71
-9.41%
19.55
+17.55%
16.63
+16.18%
14.31
Depreciation And Amortization
17.71
-9.41%
19.55
+17.55%
16.63
+16.18%
14.31
Stock Based Compensation
87.93
+24.26%
70.76
+12.73%
62.77
+40.03%
44.83
Deferred Tax
12.91
+229.51%
-9.97
-1410.45%
-0.66
-134.16%
1.93
Deferred Income Tax
12.91
+229.51%
-9.97
-1410.45%
-0.66
-134.16%
1.93
Change In Working Capital
2.22
-90.40%
23.09
+148.49%
-47.62
+35.44%
-73.75
Change In Receivables
-20.05
-142.92%
46.71
+244.95%
-32.22
-275.33%
-8.59
Changes In Account Receivables
-20.05
-142.92%
46.71
+244.95%
-32.22
-275.33%
-8.59
Change In Inventory
-31.01
-202.49%
30.26
+87.07%
16.18
+126.83%
-60.28
Change In Prepaid Assets
17.30
+54.89%
11.17
+118.37%
-60.80
-58.49%
-38.36
Change In Payables And Accrued Expense
24.53
+152.11%
-47.06
-253.30%
30.70
-7.05%
33.03
Change In Accrued Expense
3.02
+109.45%
-31.93
-186.12%
37.07
+77.21%
20.92
Change In Payable
21.51
+242.09%
-15.14
-137.68%
-6.37
-152.59%
12.11
Change In Account Payable
21.51
+242.09%
-15.14
-137.68%
-6.37
-152.59%
12.11
Change In Other Working Capital
2.64
+119.01%
-13.90
-575.86%
2.92
-67.96%
9.12
Change In Other Current Liabilities
8.81
+316.05%
-4.08
+7.30%
-4.40
+49.33%
-8.68
Investing Cash Flow
-6.37
+94.18%
-109.53
-1653.88%
-6.25
+74.07%
-24.08
Cash Flow From Continuing Investing Activities
-6.37
+94.18%
-109.53
-1653.88%
-6.25
+74.07%
-24.08
Net PPE Purchase And Sale
-19.43
-7.65%
-18.05
-1.11%
-17.86
-26.93%
-14.07
Purchase Of PPE
-19.43
-7.65%
-18.05
-1.11%
-17.86
-26.93%
-14.07
Capital Expenditure
-19.43
-7.65%
-18.05
-1.11%
-17.86
-26.93%
-14.07
Net Investment Purchase And Sale
13.06
+114.28%
-91.48
-887.91%
11.61
+215.93%
-10.02
Purchase Of Investment
-220.84
+26.80%
-301.68
-39.54%
-216.19
-12.95%
-191.40
Sale Of Investment
233.90
+11.27%
210.20
-7.73%
227.80
+25.59%
181.39
Financing Cash Flow
-28.43
-236.07%
20.90
+131.70%
-65.93
-363.04%
25.06
Cash Flow From Continuing Financing Activities
-28.43
-236.07%
20.90
+131.70%
-65.93
-363.04%
25.06
Net Issuance Payments Of Debt
—
—
—
0.00
Issuance Of Debt
—
—
—
0.00
Repayment Of Debt
—
—
—
0.00
Short Term Debt Issuance
—
—
—
0.00
Short Term Debt Payments
—
—
—
0.00
Net Short Term Debt Issuance
—
—
—
0.00
Net Common Stock Issuance
-93.63
-775.46%
-10.70
+87.62%
-86.40
0.00
Common Stock Payments
-93.63
-775.46%
-10.70
+87.62%
-86.40
0.00
Repurchase Of Capital Stock
-93.63
-775.46%
-10.70
+87.62%
-86.40
0.00
Proceeds From Stock Option Exercised
65.20
+106.37%
31.59
-1.73%
32.15
+17.09%
27.46
Net Other Financing Charges
—
—
-11.68
-388.01%
-2.39
Changes In Cash
100.15
+594.96%
-20.23
-27.09%
-15.92
-156.53%
28.16
Effect Of Exchange Rate Changes
-0.22
-1485.71%
-0.01
-105.47%
0.26
+160.38%
-0.42
Beginning Cash Position
43.16
-31.93%
63.41
-19.81%
79.07
+54.04%
51.33
End Cash Position
143.09
+231.51%
43.16
-31.93%
63.41
-19.81%
79.07
Free Cash Flow
115.52
+129.45%
50.35
+31.12%
38.40
+192.74%
13.12
Interest Paid Supplemental Data
0.00
0.00
-100.00%
0.25
-56.15%
0.58
Income Tax Paid Supplemental Data
6.88
+17.11%
5.88
-50.49%
11.87
+23.59%
9.61
Amortization Of Securities
-3.70
+30.06%
-5.29
-25.89%
-4.20
-266.40%
-1.15
Common Stock Issuance
—
—
—
0.00
Issuance Of Capital Stock
—
—
—
0.00
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

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