Calix Inc (CALX) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Calix Inc $15.70, price $34.54, upside -54.6%, quality 66 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? No
- Good quality? Yes
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Calix Inc
CALX · USStretched ValuationQuality growthStrong overvaluation with only moderate quality.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 23, 2026.
How to read this chart
60‑month range $27.73 – $79.97 · fair‑value band $11.78 – $19.62 · the $34.54 price screens above the $15.70 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 23, 2026.
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Company profile
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.
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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.
Stock analysis
Calix Inc (CALX) currently trades at $34.54, while our model-based Fair Value estimate is $15.70, implying the stock looks roughly 120.0% overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of $21.13 per share, and 2 of the 24 models we run sit above the $34.54 price.
Bear case: the Earnings-Based group reads lowest at $3.32, and 22 of the 24 models stay below the price. Evidence for this calculation is medium.
Scenario range: $11.78 (bear) to $19.62 (bull), the price of $34.54 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 66/100 (solid quality), in the Technology sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Calix Inc reported revenue of $1.0B in FY2025 versus $679M in FY2021, a compound +10.1%/yr. Reported net income was $17.9M in FY2025, compounding −47.7%/yr from FY2021.
Key figures
Market cap $2.4B · P/E ratio 70.5 · P/S ratio 1.26 · EPS (TTM) $0.4900 · Net margin 1.8% · Return on equity 4.5% · Return on assets (EBIT) 3.2% · Operating margin 4.5%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 47 out of 100 (low confidence).
What moves the price
The last reported earnings sit well below what analysts expect (earnings in transition, for example after write-downs or an earnings dip); whether the stock is cheap or expensive hinges on the expected recovery actually arriving. Read the fair value with that caveat.
The share trades about 50% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at −19% fair-value upside, at −55%, CALX screens richer than that median.
Fair Value models
All 24 models by family
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Set up alert →Quality Score breakdown
Of which business quality 68 · Market factors (momentum, volatility) 19
Revenue & earnings trend
Growth Forecast
CALX screens 120% overvalued. Compare with Microsoft Corporation →
Earlier news
- Calix Welcomes Juergen Lindner as Chief Marketing Officer
- Does Calix (CALX) Have More To Gain Or Lose From Its Latest News?
- Calix (CALX), What Is Behind The Fresh Attention?
- Tantalus Systems and Calix to Leverage Fiber Networks for AMI Deployments
Compare Calix Inc with another stock
Price, fair value, quality and upside side by side.
Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Software - Infrastructure · 372 stocks
Valuation Multiplesvs Software - Infrastructure median · lower = cheaper
Strength profile in five axes (Snowflake)
VALUE 0: the price sits above our fair-value range.
Context: sector, industry, market
- Is the Information Technology sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: US Stocks
- Valuation of the USA market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Software - Infrastructure stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Microsoft Corporation MSFT | $498.00 | $547.80 | +10% |
| Oracle Corporation ORCL | $149.20 | $117.84 | −21% |
| Palantir Technologies Inc PLTR | $184.99 | $43.02 | −77% |
| Palo Alto Networks, Inc PANW | $374.57 | $114.50 | −69% |
| CrowdStrike Holdings CRWD | $250.06 | $35.15 | −86% |
| Fortinet, Inc FTNT | $174.26 | $164.92 | −5% |
| Synopsys, Inc SNPS | $409.24 | $250.04 | −39% |
| Block, Inc XYZ | $77.53 | $101.29 | +31% |
| CoreWeave, Inc CRWV | $86.76 | $71.79 | −17% |
| NetApp, Inc NTAP | $192.91 | $157.18 | −19% |
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Key figures of Calix Inc
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