CALXCalix, Inc.

$37.23-41% 1Y

$37.23

$33.1752 weeks$68.42

Is the business good?

Mixed

The checks split: nothing decisive, though earnings fully cash-backed (2.5×).

1 good, 3 neutral

Fundamental health (F-score)6 / 9SEC EDGAR · Dec 31, 2025

Mixed fundamental signals. Nine pass/fail tests of year-over-year health from the filings.

Profits arrive as cash2.53×derived · Jun 27, 2026

Operating profit is fully backed by cash.

Margin direction, 3 years−0.1 pts

Margins have held roughly steady, a stable cost structure.

Where ROE comes from2% ROA

A balanced mix of margins, efficiency, and leverage. ROE 3% = margin × turnover × leverage.

Unless marked, from derived.

Against the whole market›

Percentile against every name Ryufin tracks. Higher is better; the tick marks the middle of the market. Context, not one of the checks above.

FCF conversionbetter than 81% of the market

Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.

Calix, Inc. earns 9.4% on the capital it employs against a 9.0% cost of capital, so the business is worth more the bigger it gets.

9.4%

Return on invested capital · cost of capital 9.0% · 0.38 points above what the capital costs: growth creates value

Operating margin: 5.5%
Operating margin · Software - Infrastructure median 5.8% · 12 months to Q2 2026
Cash conversion: 2.53×
Cash conversion · operating cash flow covers the operating profit after tax
Share count, year on year: +1.5%
Share count, year on year · shareholders own a smaller slice than a year ago

Details›

Gross margin12 months to Q2 2026: 57%
Operating margin12 months to Q2 2026: 5.5%
Net margin12 months to Q2 2026: 4.6%
Free cash flow margin: 7.7%
R&D as % of revenue: 19%
Revenue, trailing twelve months: $1.11B
Free cash flow, trailing twelve months: $85M
Net income, trailing twelve months: $51M
Return on invested capitaloperating profit after tax ÷ debt + equity − cash: 9.4%

Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.

Ranks #36 of 80 by RyuScore