Calix, Inc. CALX R2K
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.
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Valuation
Profitability & Returns
Balance Sheet & Liquidity
Ownership
Financial Snapshot
Growth (CAGR)
PROS
- Generates positive free cash flow.
CONS
- Trading at a high P/E of 81.1.
- Earnings shrank at -24.2% CAGR over 5 years.
- Trading 41.9% below its 52-week high.
- In a downtrend (50-DMA below 200-DMA).
* The pros and cons are auto-generated from financial metrics.
Price Chart
Technical Trend
Computed from daily close history using EMA cross, slope, and RSI signals.
Note: intraday data is not stored locally. “Hourly” uses the most recent 10 daily candles as a short-term proxy.
Fundamental Growth
No fundamental data available for this stock.
Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).
Peer comparison
Peer companies in the same sector (Technology).
| # | Name | CMP $ | P/E | Mkt Cap | Div Yld % | ROCE % | ROE % | Rev CAGR 5Y % | Profit CAGR 5Y % |
|---|---|---|---|---|---|---|---|---|---|
| 1 | CALX Calix, Inc. R2K | 39.75 | 81.12 | $2.54B | - | 2.34% | 4.50% | 4.84% | -24.17% |
| 2 | NVDA NVIDIA Corporation NDXSPXAI | 211.14 | 32.38 | $5.11T | 0.47% | 81.14% | 114.29% | 100.05% | 201.80% |
| 3 | AAPL Apple Inc. NDXSPX | 312.06 | 37.73 | $4.58T | 0.35% | 68.72% | 141.47% | 1.81% | 3.92% |
| 4 | MSFT Microsoft Corporation NDXSPXAI | 450.24 | 26.82 | $3.34T | 0.81% | 26.37% | 34.01% | 12.42% | 11.87% |
| 5 | TSM Taiwan Semiconductor Manufacturing Company Limited AI | 418.45 | 35.86 | $2.17T | 0.91% | 32.04% | 36.21% | 18.94% | 19.57% |
| 6 | MU Micron Technology, Inc. NDXSPXAI | 971.00 | 45.87 | $1.10T | 0.06% | 14.20% | 39.82% | 6.71% | -0.57% |
| 7 | AMD Advanced Micro Devices, Inc. NDXSPXAI | 516.10 | 172.61 | $841.55B | - | 6.33% | 8.06% | 13.64% | 48.64% |
| 8 | ORCL Oracle Corporation SPXAI | 225.78 | 40.46 | $649.35B | 0.89% | 13.07% | 57.57% | 10.59% | 22.81% |
| 9 | ASML ASML Holding N.V. NDXAI | 1,612.76 | 53.76 | $621.59B | 0.54% | 43.81% | 52.24% | 15.55% | 19.55% |
Quarterly Results
Figures in USD.
| Metric | Jun 2015 | Sep 2015 | Dec 2015 | Mar 2016 | Jun 2016 | Sep 2016 | Dec 2016 | Apr 2017 | Jul 2017 | Sep 2017 | Dec 2017 | Mar 2018 | Jun 2018 | Sep 2018 | Dec 2018 | Mar 2019 | Jun 2019 | Sep 2019 | Dec 2019 | Mar 2020 | Jun 2020 | Sep 2020 | Dec 2020 | Apr 2021 | Jul 2021 | Oct 2021 | Apr 2022 | Jul 2022 | Oct 2022 | Apr 2023 | Jul 2023 | Sep 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 162.07M | 168.67M | 172.23M | 184.95M | 202.04M | 236.33M | 250.01M | 261.02M | 263.83M | 226.31M | 198.14M | 200.94M | 220.24M | 241.88M | 265.44M | 272.45M | 279.98M |
| Cost of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 97.53M | 105.59M | 113.43M | 115.15M | 120.69M |
| Gross Profit | 48.29M | 53.11M | 46.54M | 45.48M | 50.01M | 53.54M | 52.19M | 34.38M | 43.32M | 44.63M | 50.56M | 42.06M | 50.87M | 52.83M | 51.62M | 38.34M | 44.67M | 50.20M | 54.71M | 45.62M | 56.41M | 75.97M | 89.02M | 86.24M | 89.62M | 89.49M | 91.79M | 100.18M | 118.57M | 128.05M | 136.47M | 140.55M | 122.58M | 107.60M | 110.05M | 122.71M | 136.29M | 152.01M | 157.30M | 159.30M |
| Operating Expenses | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 128.79M | 135.90M | 134.60M | 148.03M | 146.58M |
| Operating Income | -5.76M | 877.00K | -9.73M | -10.74M | -5.88M | 735.00K | -12.23M | -32.82M | -18.71M | -17.26M | -12.76M | -11.11M | -2.93M | 676.00K | -5.16M | -9.11M | -4.93M | -2.85M | 1.49M | -6.34M | -3.34M | 21.75M | 24.77M | 20.80M | 20.53M | 17.99M | 9.85M | 9.70M | 20.00M | 9.94M | 11.81M | 15.93M | -2.03M | -11.36M | -10.90M | -6.08M | 391.00K | 17.41M | 9.28M | 12.72M |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | -1.81M | 4.73M | 22.10M | 13.68M | 17.09M |
| Interest Expense | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Pretax Income | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | -2.99M | 3.43M | 20.33M | 13.40M | 15.23M |
| Tax Provision | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 1.80M | 3.63M | 4.68M | 6.18M | 4.02M |
| Net Income | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 20.46M | 177.42M | 8.12M | 7.52M | 13.44M | 9.60M | 9.37M | 16.95M | 103.00K | -7.96M | -3.97M | -4.79M | -199.00K | 15.66M | 7.21M | 11.21M |
| Diluted EPS | -0.11 | 0.02 | -0.19 | -0.22 | -0.12 | 0.01 | -0.23 | -0.67 | -0.38 | -0.35 | -0.25 | - | - | 0.02 | - | - | - | -0.06 | - | -0.12 | -0.07 | 0.32 | 0.37 | 0.31 | 0.30 | 2.61 | 0.12 | 0.11 | 0.19 | 0.14 | 0.13 | 0.24 | 0.00 | -0.12 | -0.06 | -0.07 | 0.00 | 0.22 | 0.10 | 0.16 |
| R&D Expense | 22.85M | 22.12M | - | 22.77M | 25.03M | 28.12M | - | 33.81M | 32.95M | 32.63M | - | 25.54M | 22.10M | 21.11M | - | 19.33M | 20.70M | 20.89M | - | 20.67M | 20.92M | 20.38M | - | 24.36M | 25.72M | 25.73M | 29.82M | 30.43M | 33.20M | 43.17M | 45.34M | 46.96M | 44.42M | 44.12M | 45.47M | 43.98M | 45.79M | 47.05M | - | 54.65M |
Profit & Loss (Annual)
Figures in USD.
| Metric | Dec 2009 | Dec 2010 | Dec 2011 | Dec 2012 | Dec 2013 | Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | - | - | - | - | - | - | - | - | - | - | - | 541.24M | - | 867.83M | 1.04B | 831.52M | 1.00B |
| Cost of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | 432.40M | 521.28M | 377.92M | 431.69M |
| Gross Profit | 76.64M | 112.73M | 119.45M | 137.58M | 171.07M | 177.79M | 190.43M | 201.22M | 172.89M | 197.38M | 187.93M | 267.02M | - | 435.43M | 518.32M | 453.59M | 568.32M |
| Operating Expenses | - | - | - | - | - | - | - | - | - | - | - | - | - | 382.82M | 492.73M | 496.63M | 547.33M |
| Operating Income | -19.33M | -17.48M | -52.32M | -29.02M | -18.45M | -20.38M | -26.51M | -28.12M | -81.56M | -18.51M | -15.40M | 36.85M | - | 52.61M | 25.59M | -43.03M | 20.99M |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | - | 66.92M | 42.22M | -23.48M | 38.70M |
| Interest Expense | - | - | - | - | - | - | - | - | - | - | - | - | 402.00K | - | - | - | - |
| Pretax Income | - | - | - | - | - | - | - | - | - | - | - | - | - | 54.04M | 34.76M | -31.65M | 34.17M |
| Tax Provision | - | - | - | - | - | - | - | - | - | - | - | - | - | 13.03M | 5.43M | -1.90M | 16.28M |
| Net Income | -26.19M | -19.45M | -52.55M | -28.33M | - | - | - | - | - | - | - | 33.48M | - | 41.01M | 29.32M | -29.75M | 17.88M |
| Diluted EPS | - | - | - | - | - | - | - | - | - | -0.37 | -0.32 | 0.54 | - | 0.60 | 0.46 | -0.45 | 0.26 |
| R&D Expense | 46.13M | 55.41M | 67.72M | 66.75M | 79.30M | 80.31M | 89.71M | 106.87M | 127.54M | 89.96M | 81.18M | 85.26M | 101.75M | 131.99M | 177.77M | 179.87M | 190.36M |
Compounded Sales Growth
| 5 Years: | 4.84% |
| 1 Year: | 27.10% |
Compounded Profit Growth
| 5 Years: | -24.17% |
| 1 Year: | - |
Stock Price Performance
| 1 Year: | -14.04% |
| 6 Months: | -28.92% |
| 3 Months: | -23.22% |
| 1 Month: | -4.63% |
Balance Sheet (Annual)
Figures in USD.
| Metric | Dec 2008 | Dec 2009 | Dec 2010 | Dec 2011 | Dec 2012 | Dec 2013 | Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Jan 2018 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | - | - | 257.56M | 358.10M | 377.90M | 383.60M | 370.22M | 323.89M | 355.48M | 295.07M | 296.01M | 317.08M | 316.82M | 427.35M | - | 884.84M | 941.87M | 939.27M | 1.06B |
| Current Assets | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 547.37M | 597.96M | 584.74M | 691.55M |
| Cash & Equivalents | 23.21M | 31.82M | 66.30M | 38.94M | 46.99M | 82.75M | 48.83M | 23.63M | 50.36M | 39.77M | - | 49.65M | 46.83M | 80.81M | - | 79.07M | 63.41M | 43.16M | 143.09M |
| Inventory | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 149.16M | 132.99M | 102.73M | 133.74M |
| Receivables | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 93.80M | 126.03M | 79.32M | 99.37M |
| Total Liabilities | - | - | 62.25M | 80.69M | 108.82M | 109.68M | 97.63M | 88.10M | 142.51M | 150.11M | 149.28M | 165.15M | 162.79M | 147.03M | - | 205.27M | 222.88M | 158.33M | 199.30M |
| Current Liabilities | - | - | 50.32M | 65.81M | 92.30M | 90.10M | 75.79M | 67.24M | 121.40M | 128.33M | - | 143.68M | 115.49M | 101.04M | - | 165.42M | 187.64M | 131.14M | 163.25M |
| Long Term Debt | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Total Debt | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 12.39M | 11.56M | 8.02M | 15.59M |
| Total Equity | -322.40M | -339.36M | 195.30M | 277.42M | 269.07M | 273.92M | 272.59M | 235.78M | 212.96M | 144.96M | - | 151.93M | 154.03M | 280.32M | - | 679.57M | 718.98M | 780.94M | 859.22M |
| Shares Outstanding | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 65.73M | 65.05M | 66.43M | 67.12M |
Cash Flows (Annual)
Figures in USD.
| Metric | Dec 2009 | Dec 2010 | Dec 2011 | Dec 2012 | Dec 2013 | Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 1.39M | 9.18M | 14.59M | 27.68M | 40.82M | 38.08M | -5.34M | 24.42M | -62.77M | 3.56M | 4.65M | 51.41M | - | 27.18M | 56.25M | 68.40M | 134.95M |
| Investing Cash Flow | -41.31M | -2.29M | -36.41M | -22.18M | -6.99M | -75.44M | 4.67M | 12.08M | 19.73M | -76.00K | -13.35M | -60.80M | - | -24.08M | -6.25M | -109.53M | -6.37M |
| Financing Cash Flow | 48.53M | 27.59M | -5.63M | 2.51M | 1.82M | 3.58M | -24.14M | -9.24M | 31.99M | 7.49M | 5.97M | 42.15M | - | 25.06M | -65.93M | 20.90M | -28.43M |
| Capital Expenditure | -5.06M | -5.61M | -7.36M | -10.18M | -6.99M | -11.96M | -7.28M | -9.84M | -8.03M | -10.43M | -13.35M | -7.82M | - | -14.07M | -17.86M | -18.05M | -19.43M |
| Free Cash Flow | -3.67M | 3.56M | 7.23M | 17.50M | 33.83M | 26.11M | -12.62M | 14.58M | -70.80M | -6.87M | -8.70M | 43.59M | - | 13.12M | 38.40M | 50.35M | 115.52M |
| Net Change in Cash | - | - | - | - | - | - | - | - | - | - | - | - | - | 28.16M | -15.92M | -20.23M | 100.15M |
| Share Buybacks | - | - | - | - | 0 | 0 | 27.18M | 12.81M | 0 | 0 | - | - | 0 | 0 | 86.40M | 10.70M | 93.63M |
Ratios (Annual)
Figures in %.
| Metric | Dec 2009 | Dec 2010 | Dec 2011 | Dec 2012 | Dec 2013 | Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin % | - | - | - | - | - | - | - | - | - | - | - | 49.3% | - | 50.2% | 49.9% | 54.6% | 56.8% |
| Operating Margin % | - | - | - | - | - | - | - | - | - | - | - | 6.8% | - | 6.1% | 2.5% | -5.2% | 2.1% |
| Net Margin % | - | - | - | - | - | - | - | - | - | - | - | 6.2% | - | 4.7% | 2.8% | -3.6% | 1.8% |
| ROE % | 7.7% | -10.0% | -18.9% | -10.5% | - | - | - | - | - | - | - | 11.9% | - | 6.0% | 4.1% | -3.8% | 2.1% |
| ROCE % | - | -8.4% | -17.9% | -10.2% | -6.3% | -6.9% | -10.3% | -12.0% | -48.9% | -10.7% | -7.6% | 11.3% | - | 7.3% | 3.4% | -5.3% | 2.3% |
Shareholding Pattern
Top Institutional Holders
| # | Holder | % Held | Shares | Value |
|---|---|---|---|---|
| 1 | Blackrock Inc. | 17.49% | 11.15M | $443.35M |
| 2 | Vanguard Portfolio Management LLC | 8.68% | 5.53M | $219.97M |
| 3 | Alliancebernstein L.P. | 5.10% | 3.25M | $129.23M |
| 4 | Vanguard Capital Management LLC | 4.21% | 2.69M | $106.79M |
| 5 | State Street Corporation | 4.08% | 2.60M | $103.44M |
| 6 | Millennium Management Llc | 2.99% | 1.90M | $75.68M |
| 7 | Congress Asset Management Co | 2.58% | 1.64M | $65.36M |
| 8 | Westfield Capital Management Co LP | 2.42% | 1.55M | $61.46M |
| 9 | Geode Capital Management, LLC | 2.25% | 1.44M | $57.07M |
| 10 | Dimensional Fund Advisors LP | 1.91% | 1.22M | $48.44M |
Analyst View
Analyst aggregate. Targets and ratings update periodically; not investment advice.
Latest News
Recent headlines for CALX