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Data-driven stock valuation

Extreme Networks Inc (EXTR) fair value: what the stock is really worth

We calculate from audited financials what Extreme Networks Inc is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily, free.

  1. Compare price with fair valuebelow fair value = cheap, above = expensive
  2. Check the quality50 and up solid, 75 and up strong
  3. Watch it or check another stockalert when fair value or trend changes

Technology · US · Market cap $3.9B · ISIN US30226D1063

At a glance

EN Extreme Networks Inc logo Extreme Networks Inc EXTR · US
Price$21.18
Fair Value$3.45
Upside−83.7% ⚠
Quality59/100

Structural break: The valuation model sees a lasting decline in earnings power for this stock, the confidence band is broken. Treat the target with caution.

A solid business, but trading 514% above our fair value of $3.45.

As of Aug 21, 2026, the fair value of Extreme Networks Inc is $3.45 per share against a price of $21.18, so the fair value sits 84% below the price. A model estimate from reported figures, not an analyst target.

!Mixed Growth (revenue 5y +3.8 %/yr)
!Thin margins · 1.3% net margin
!High debt · generates free cash flow
!Trails peers (5/14)
!Moderate moat 45/100
!Evidence only low, so the estimate is less certain
!Weak on dividend: 16 out of 100
Evidence: Low Range $2.60 to $4.29

Fair value as of: Aug 21, 2026

From 15 valuation models · updated 21 days ago

Share price −11.4% over the past month.

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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price sits above even our optimistic bull case ($4.29). The favourable scenario is already priced in.
  • The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
  • Solid but not exceptional quality (59/100) and above fair value, neither a clear bargain nor a standout compounder.

Price vs Fair Value (5 years)

$33.71 $8.59 Fair Value $3.45 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 21, 2026.

How to read this chart

60‑month range $8.59 – $33.71 · fair‑value band $2.60 – $4.29 · the $21.18 price screens above the $3.45 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 2 fiscal years are left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Aug 21, 2026.

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Analysis

Extreme Networks Inc (EXTR) currently trades at $21.18, while our model-based Fair Value estimate is $3.45, implying the stock looks roughly 513.9% overvalued today. The Quality Score stands at 59/100 (solid quality), in the Technology sector. Bull case: the DCF Models group reads highest at a median of $8.85 per share, and 0 of the 15 models we run sit above the $21.18 price. Bear case: the Earnings-Based group reads lowest at $1.26, and 15 of the 15 models stay below the price. Evidence for this calculation is low.

Over the trailing twelve months, Extreme Networks Inc generated revenue of $1.3B at a net margin of 1.3%. Revenue grew 11.4% year over year. It earns a return on equity of 21.6%. The balance sheet holds a net cash position of $8.3M. Fundamentals as of Aug 21, 2026

Scenario range: $2.60 (bear) to $4.29 (bull), the price of $21.18 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target. 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 29% below its 52-week high and 57% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at −52% fair-value upside, at −84%, EXTR screens richer than that median.

Fair Value models

Based on fiscal year 2025 figures (about 12 months old). Earnings retained since then ($0.1200 per share) are deliberately not added.

Each model values the company its own way; the fair value above is the evidence-weighted blend. Evidence (0 to 100) shows how complete a model's inputs are. How we calculate →

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
FCF DCF $10.98 $16.37 $24.24 80
Growth DCF $11.13 $15.89 $22.41 79
5Y EBITDA Exit $6.51 $8.85 $11.45 76
All 15 models by family
DCF Models
FCF DCF $10.98 $16.37 $24.24 80
5Y Revenue Exit $5.09 $6.21 $7.44 74
5Y EBITDA Exit $6.51 $8.85 $11.45 76
10Y Revenue Exit $7.17 $8.69 $10.42 68
10Y EBITDA Exit $8.09 $10.48 $13.40 70
Earnings-Based
EPV $1.16 $1.26 $1.35 74
Dividend Discount
Gordon GGM $2.02 $4.03 $6.11 67
DDM Multi-Stage $2.02 $3.26 $4.26 66
Multiples
EV/EBIT $3.06 $3.90 $4.75 66
EV/EBITDA $4.41 $5.70 $7.00 67
EV/Revenue $1.80 $2.35 $2.90 54
Asset-Based
NCAV (Graham) $0.2500 $0.3400 $0.5000 54
Growth DCF
Growth DCF $11.13 $15.89 $22.41 79
Rev-Margin DCF $5.09 $6.39 $7.95 74
Economic Profit
ROIC Compounder $1.16 $1.26 $1.35 72

Widest divergence: DCF Models ($8.85) versus Asset-Based ($0.3400). Highest evidence: FCF DCF (80).

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Key figures & financial health

P/E ratio 176.5
P/S ratio 3.09 TTM
EPS (TTM) $0.1200 price ÷ EPS = P/E 176.5
Dividend yield 0.8% payout 137%
Net margin −0.7% FY2025
Return on equity 21.6% TTM
More key figures
Profitability
Return on assets (EBIT) 3.8% avg 5y
Operating margin 5.5% TTM
Growth
Revenue (TTM) $1.3B TTM
Revenue growth (YoY) +11.4% 3y avg +0.8%
EPS growth (YoY) +206%
Balance sheet & cash flow
Free cash flow $127M FY2025
Net cash $8.3M FY2025

Figures from reported company fundamentals · as of Aug 21, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 59/100

Of which business quality 55 · Market factors (momentum, volatility) 33

Profitability 40
Margins and returns on capital today
Quality Growth 66
Are margins and returns improving?
Cashflow 63
Earnings quality: real cash, not paper profit
Fin. Strength 24
Balance sheet, leverage, solvency risk
Investment 95
Disciplined investing over empire-building
Low Volatility 7
Calm price path (market factor)
Momentum 51
Price trend over the last 3–12 months (market factor)
52W Momentum 33
Distance to the 52-week high (market factor)
Net Issuance 71
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.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Extreme Networks, Inc., together with its subsidiaries, develops, markets, and sells network infrastructure equipment and related software in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific.

Full company description

Extreme Networks, Inc., together with its subsidiaries, develops, markets, and sells network infrastructure equipment and related software in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company offers ExtremeCloud IQ, an ML/AI powered, wired and wireless cloud network management solution that offers advanced visibility and control over users, devices, and applications; ExtremeCloud IQ-Site Engine, which provides task automation, access control, granular visibility with real-time analytics and multi-vendor device management; and ExtremeCloud IQ Essentials that offers wireless intrusion prevention system, location services, and guest management services. It also provides wireless local area networks access point products; wired for edge, campus, and data center solutions through Extreme Switching that offers access edge products, such as connection speeds for physical presentations along with options to deliver Ethernet or convergence-friendly power-over-ethernet; and ExtremeCloud SD-WAN, a software-defined wide area networks solution offering an all-inclusive subscription, which includes hardware, the cloud-based SD-WAN service, support and maintenance, and customer success support; and ExtremeCloud Universal ZTNA, a network access security solution. In addition, the company offers cloud native platforms and applications; and customer services and support, including post-sale support, consultative, customized training and operational manuals, and education classes. It serves mid-market and enterprise customers, as well as service providers in the sports and entertainment venues, hospitality, retail, transportation and logistics, education, government, healthcare, and manufacturing industries. The company sells its products through original equipment manufacturers and strategic relationships, distributors, resellers, and field sales. Extreme Networks, Inc., was incorporated in 1996 and is headquartered in Morrisville, North Carolina.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Extreme Networks Inc reported revenue of $1.1B in FY2025 versus $1.0B in FY2021, a compound +3.1%/yr. Reported net income was −$7.5M in FY2025.

Growth Quality 62/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
$1.1B
Latest YoY
+2.0%
Avg. revenue 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.
+0.8%
Avg. revenue 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.
+3.8%
Avg. revenue growth/yr (27Y) ⓘ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.
+15.4%
EBIT margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−10.4% (2020) → 1.6% (2025)
Value creation/yr ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed
Revenue +3.1%/yr
FY21 $1.0B
FY22 $1.1B
FY23 $1.3B
FY24 $1.1B
FY25 $1.1B
Net income
FY21 $1.9M
FY22 $44.3M
FY23 $78.1M
FY24 −$86.0M
FY25 −$7.5M

EXTR screens 514% overvalued. Compare with Cisco Systems, Inc →

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Extreme Networks Inc · Fair Value
$3.45 −514%Fair Value
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Cite: Fair Value Calculator (2026). "Extreme Networks Inc Fair Value". https://www.fairvalue-calculator.com/stock/EXTR

Earlier news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Communication Equipment · 300 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.

Valuation
Quality Score 59 · Above median
Fair Value upside −84% · Bottom 25%
Profitability
Return on equity (TTM) 22% · Top 25%
Return on assets 4% · Above median
Net margin (TTM) 1% · Below median
Operating margin (TTM) 5% · Above median
Growth and dividend
Revenue growth 11% · Above median
Dividend yield (TTM) 0.8% · Below median
Balance sheet
Debt / equity 2.50× · Highest 25%

Valuation Multiples vs Communication Equipment median · lower = cheaper

P/E (TTM) 176.5× · Priciest 25%
P/S (TTM) 3.09× · Pricier than median
P/FCF 30.4× · Priciest 25%
EV/EBITDA 40.5× · Priciest 25%
PEG 1.22× · Pricier than median

What the price implies (reverse DCF)

The inverse question: what free-cash-flow growth must Extreme Networks Inc deliver for ten years so that today's price is fair in our DCF model? Same formula, same discount rate as the fair value.

Implied FCF growth, 10 years+12.4 % per year
Achieved revenue growth, 5 years+3.8 % p.a.
Sector median revenue growth+8.3 %
FCF yield on price4.54 %
Discount rate (WACC) in the models11.7 %

The price demands an acceleration versus past growth: a high bar the company still has to clear. Ranking of the largest stocks →

Context: sector, industry, market

Strength profile in five axes (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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE0 · sector 0
FUTURE57 · sector 39
PAST86 · sector 15
HEALTH0 · sector 98
DIVIDEND16 · sector 24

VALUE 0: the price sits above our fair-value range.

Insider activity: 46/100

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

Similar stocks

10 more Communication Equipment stocks, each showing price versus our Fair Value estimate (as of Aug 21, 2026).

Stock Price Fair Value vs Fair Value
Cisco Systems, Inc CSCO $109.20 $61.53 −44%
Zhongji Innolight Co 300308 ¥866.12 ¥171.09 −80%
Foxconn Industrial Internet Co 601138 ¥61.83 ¥28.65 −54%
Eoptolink Technology Inc 300502 ¥429.90 ¥176.99 −59%
Nokia Oyj NOK $10.03 $3.80 −62%
Motorola Solutions, Inc MSI $491.24 $236.33 −52%
Yangtze Optical Fibre And Cable Joint Stock Limited 601869 ¥400.03 ¥201.38 −50%
Suzhou TFC Optical Communication Co 300394 ¥276.25 ¥43.67 −84%
Telefonaktiebolaget LM Ericsson (publ), ERIC $10.13 $19.85 +96%
Accton Technology Corporation 2345 2,270 TWD 1,135 TWD −50%

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Frequently asked questions

Is Extreme Networks Inc (EXTR) overvalued or undervalued?
As of Aug 21, 2026, our model estimates a fair value of $3.45 versus a price of $21.18, about −84% upside (overvalued).
What is the fair value of EXTR?
Our model-based fair value for Extreme Networks Inc is $3.45 (as of Aug 21, 2026), built from audited fundamentals. The current price: $21.18.
What is the quality score of EXTR?
Extreme Networks Inc has a Quality Score of 59/100. 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 price target for Extreme Networks Inc (EXTR)?
Our model-based price target is the fair value of $3.45 (as of Aug 21, 2026) from 15 valuation models. Cautious scenario $2.60, optimistic scenario $4.29. It is a calculation from audited fundamentals, not an analyst target.
What is the Extreme Networks Inc stock forecast for 2026?
Our models put fair value at $3.45, about −84% upside versus a price of $21.18 (overvalued). Cautious scenario $2.60, optimistic scenario $4.29. The calculation is refreshed regularly with new filings.
What is the revenue of Extreme Networks Inc (EXTR)?
Extreme Networks Inc reported trailing-twelve-month revenue of about $1.3B (latest available figure, as of Aug 21, 2026).
What is the net profit margin of EXTR?
The net profit margin of Extreme Networks Inc is about 1.3%, meaning it keeps roughly 1.3% of revenue as net income. Based on the latest reported figures.
Does Extreme Networks Inc pay a dividend?
Extreme Networks Inc currently shows a dividend yield of about 0.78% relative to its recent price (as of Aug 21, 2026).
What growth is priced into Extreme Networks Inc (EXTR)?
For today's price to be fair in a discounted-cash-flow model, Extreme Networks Inc would have to grow free cash flow by +12.4 % per year for ten years (discount rate 11.7 %, then 2 % perpetual growth). Over the last 5 years revenue grew +3.8 % per year. As of Aug 21, 2026.
What discount rate (WACC) does the fair value of EXTR use?
Our models discount Extreme Networks Inc at 11.7 %: a base by market capitalisation (mid), damped by beta 1.81, country premium for USA. The same rate applies in all 26 models.
What is the intrinsic value of Extreme Networks Inc (EXTR)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Extreme Networks Inc it is $3.45 per share (as of Aug 21, 2026), against a price of $21.18. It is the blended result of 15 valuation models (cash flow, earnings, asset, dividend).
Is Extreme Networks Inc stock overvalued or undervalued in 2026?
As of Aug 21, 2026, EXTR trades above its calculated fair value: price $21.18, fair value $3.45, a gap of about −84% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of EXTR?
No. The price is what the market pays today ($21.18); the fair value is what the company's own numbers justify ($3.45). For Extreme Networks Inc the two are $17.73 per share apart. That gap is exactly why we show both numbers side by side.
How much is Extreme Networks Inc worth?
The market values Extreme Networks Inc at about $3.9B (market capitalisation, as of Aug 21, 2026). Per share that is $21.18; our models calculate a fair value of $3.45 per share.
What do the bullish and bearish scenarios say about EXTR?
Our models span a range for Extreme Networks Inc: cautious scenario $2.60, base $3.45, optimistic $4.29 per share (as of Aug 21, 2026, price $21.18). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of EXTR?
Extreme Networks Inc trades at a price-to-earnings ratio of 176.5 (as of Aug 21, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $3.45 is built from several models across several years. Other multiples: PEG 1.2, P/S 3.1, EV/EBITDA 40.5.
What is the PEG ratio of EXTR?
The PEG ratio of Extreme Networks Inc is 1.22 (P/E divided by earnings growth, as of Aug 21, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Extreme Networks Inc (EXTR)?
Balance-sheet figures for Extreme Networks Inc (as of Aug 21, 2026): return on equity 21.6%, debt of 2.50 per unit of equity. They feed the Quality Score of 59/100, which measures business quality independently of the share price.
How far is EXTR from its 52-week high?
Extreme Networks Inc trades at $21.18, about 29% below its 52-week high of $29.78 and 57% above the low of $13.48 (as of Aug 21, 2026). Distance from the high says nothing about value: that is what the fair value of $3.45 is for.
Which stocks are comparable to Extreme Networks Inc?
From the same area (Technology) we also value Cisco Systems, Inc, Zhongji Innolight Co, Foxconn Industrial Internet Co, Eoptolink Technology Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Extreme Networks Inc stock attractive at the current price?
The data as of Aug 21, 2026: price $21.18, calculated fair value $3.45 (−84%), Quality Score 59/100, from 15 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of EXTR calculated?
We run Extreme Networks Inc through 15 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $3.45, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 32.6 % above its aggregate fair value. Extreme Networks Inc itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on <a href="/is-it-worth-investing-now/">is it worth investing now</a>.
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