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Ceragon Networks Ltd (CRNT) Fair Value & Analysis

Technology · US · Market cap $245M

CN Ceragon Networks Ltd logo Ceragon Networks Ltd CRNT · US
Price$2.21
Fair Value$2.04
Upside-7.7%
Quality40/100
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Mixed Growth
Loss-making · -0.7% net margin
Low debt · generates free cash flow
Mixed vs. peers (6/13)
Narrow moat 26/100
Evidence: Medium Range $1.52 – $2.61 Share as image

Fair value as of: Jul 15, 2026

From 13 valuation models · updated 26 days ago

Share price −4.7% over the past month.

Below-average quality, currently priced close to our fair value.

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • Our model range runs from $1.52 (bear) to $2.61 (bull), base $2.04. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 40/100 (below-average quality) with medium evidence: read the verdict with care.
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Price vs Fair Value (5 years)

$5.48 $1.56 Fair Value $2.04 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 15, 2026.

How to read this chart

60‑month range $1.56 – $5.48 · fair‑value band $1.52 – $2.61 · the $2.21 price screens above the $2.04 fair value. Dashed = 300-day average. As of Jul 15, 2026.

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Analysis

Ceragon Networks Ltd (CRNT) currently trades at $2.21, while our model-based Fair Value estimate is $2.04, implying the stock looks roughly 7.7% fairly valued today. The Quality Score stands at 40/100 (below-average quality), in the Technology sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).

Over the trailing twelve months, Ceragon Networks Ltd generated revenue of $335M at a net margin of -0.7%. Revenue declined 4.1% year over year. It earns a return on equity of -1.5%. Net debt stands at $11.3M. Fundamentals as of Jul 15, 2026

Our scenario range runs from $1.52 (bear case) to $2.61 (bull case); at $2.21, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 33% below its 52-week high and 21% above its 52-week low, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -61% fair-value upside, at -8%, CRNT screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Growth DCF $1.68 $2.10 $2.58 80
Rev-Margin DCF $1.54 $2.12 $2.77 74
ROIC Compounder $1.05 $1.13 $1.19 72
All 13 models by family
DCF Models
FCF DCF $1.68 $2.16 $2.74 38
5Y Revenue Exit $1.54 $2.10 $2.80 39
5Y EBITDA Exit $2.30 $3.51 $4.90 41
10Y Revenue Exit $1.56 $2.04 $2.64 36
10Y EBITDA Exit $2.00 $2.86 $4.00 37
Earnings-Based
EPV $1.05 $1.13 $1.19 59
Multiples
EV/EBIT $2.04 $2.59 $3.13 53
EV/EBITDA $3.12 $4.03 $4.94 54
EV/Revenue $1.51 $1.98 $2.45 43
Asset-Based
NCAV (Graham) $0.9500 $1.27 $1.90 50
Growth DCF
Growth DCF $1.68 $2.10 $2.58 80
Rev-Margin DCF $1.54 $2.12 $2.77 74
Economic Profit
ROIC Compounder $1.05 $1.13 $1.19 72

Widest divergence: Multiples ($2.59) versus Earnings-Based ($1.13). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) $335M
Revenue growth (YoY) -4.1%
Net margin -0.7%
Return on equity -1.5%
Free cash flow $14.1M FY2025
Operating margin 3.1%
More key figures
EPS (TTM) $-0.0200
EPS growth (YoY) -96.6%
Net debt $11.3M FY2025

Figures from reported company fundamentals · as of Jul 15, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 40/100

Of which business quality 41 · Market factors (momentum, volatility) 31

Profitability 37
Margins and returns on capital today
Quality Growth 11
Are margins and returns improving?
Cashflow 29
Earnings quality: real cash, not paper profit
Fin. Strength 49
Balance sheet, leverage, solvency risk
Investment 67
Disciplined investing over empire-building
Low Volatility 24
Calm price path (market factor)
Momentum 37
Price trend over the last 3–12 months (market factor)
52W Momentum 30
Distance to the 52-week high (market factor)
Net Issuance 63
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Ceragon Networks Ltd. provides wireless transport solutions for cellular operators and other wireless service providers in North America, Europe, Africa, the Asia Pacific, the Middle East, India, and Latin America.

Full company description

Ceragon Networks Ltd. provides wireless transport solutions for cellular operators and other wireless service providers in North America, Europe, Africa, the Asia Pacific, the Middle East, India, and Latin America. The company's solutions use microwave and millimeter wave radio technology to transfer telecommunication traffic between base stations, small/distributed cells, and the service provider's network. It also provides IP-20/50 all-outdoor solutions, such as IP-20C-HP, IP-50E, IP-50EX/EXP/EXA, IP-50C, and IP-50CX; IP-20/50 Split-mount/all-indoor solutions comprising IP-20N/IP-20A, IP-20N/IP-20A, IP-20F and IP-20G; and IP-50 disaggregated solutions including IP-50FX for short-haul, long-haul, fronthaul, small cells, routing, and enterprise access applications. In addition, the company offers network and radio planning, site surveys, solutions development, installation, network rollout, wireless transport network auditing and optimization, maintenance, training, and other services. It sells its products through direct sales, resellers, original equipment manufacturers, distributors, and system integrators. The company was formerly known as Giganet Ltd. and changed its name to Ceragon Networks Ltd. in September 2000. Ceragon Networks Ltd. was founded in 1996 and is headquartered in Rosh Haayin, Israel.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Ceragon Networks Ltd reported revenue of $339M in FY2025 versus $291M in FY2021, a compound +3.9%/yr. Reported net income was −$2.1M in FY2025.

Growth Quality 35/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
$339M
Latest YoY
−14.1%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+4.7%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+5.2%
Avg. growth/yr (26Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+18.0%
Revenue +3.9%/yr
FY21 $291M
FY22 $295M
FY23 $347M
FY24 $394M
FY25 $339M
Net income
FY21 −$14.8M
FY22 −$19.7M
FY23 $6.2M
FY24 $24.1M
FY25 −$2.1M
Character of growth · EPS growth decomposed (2015-2025) +10.2 % p.a.
Revenue per share +0.4 pp

of which total revenue +1.8 pp · buybacks/dilution −1.4 pp

EBIT margin +3.0 pp
Tax rate +2.5 pp
Residual (interest, one-offs) +4.3 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "Ceragon Networks Ltd Fair Value". https://www.fairvalue-calculator.com/stock/CRNT

Peer Group

Communication Equipment · 286 stocks

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.

Quality Score 40 · Bottom 25%
Fair Value upside −8% · Above median
Return on assets 2% · Above median
Net margin (TTM) -1% · Below median
Operating margin (TTM) 3% · Below median
Revenue growth -4% · Below median
Debt / equity 0.01× · Lower than median

Valuation Multiples vs Communication Equipment median · lower = cheaper

P/B 1.42× · Cheaper than median
P/S (TTM) 0.73× · Cheaper than median
P/FCF 17.4× · Pricier than 75% of peers
EV/EBITDA 8.4× · Cheaper than 75% of peers
PEG 8.80× · Pricier than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 23 · sector 0
FUTURE 0 · sector 30
PAST 0 · sector 15
HEALTH 99 · sector 98
DIVIDEND 0 · sector 25

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Communication Equipment stocks, each showing price versus our Fair Value estimate (as of Jul 15, 2026).

Stock Price Fair Value vs Fair Value
Cisco Systems, Inc CSCO $119.25 $43.05 -64%
Zhongji Innolight Co 300308 ¥1,094 ¥171.09 -84%
Foxconn Industrial Internet Co 601138 ¥56.50 ¥28.65 -49%
Eoptolink Technology Inc 300502 ¥482.88 ¥155.05 -68%
Nokia Oyj NOK $11.25 $2.67 -76%
Motorola Solutions, Inc MSI $413.31 $190.43 -54%
Suzhou TFC Optical Communication Co 300394 ¥244.13 ¥32.04 -87%
Telefonaktiebolaget LM Ericsson (publ), ERIC $11.72 $15.96 +36%
Accton Technology Corporation 2345 2,090 TWD 846.28 TWD -60%
ZTE Corporation 000063 ¥40.00 ¥15.75 -61%

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Frequently asked questions

Is Ceragon Networks Ltd (CRNT) overvalued or undervalued?
As of Jul 15, 2026, our model estimates a fair value of $2.04 versus a price of $2.21, about −8% (fairly valued).
What is the fair value of CRNT?
Our model-based fair value for Ceragon Networks Ltd is $2.04 (as of Jul 15, 2026), built from audited fundamentals. The current price is $2.21.
What is the quality score of CRNT?
Ceragon Networks Ltd has a Quality Score of 40/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Ceragon Networks Ltd (CRNT)?
Ceragon Networks Ltd reported trailing-twelve-month revenue of about $335M (latest available figure, as of Jul 15, 2026).
What is the net profit margin of CRNT?
The net profit margin of Ceragon Networks Ltd is about -0.7%, meaning it is currently running at a net loss. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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