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Ceragon Networks

DB:GGN
Snowflake Description

Flawless balance sheet with proven track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
GGN
DB
$285M
Market Cap
  1. Home
  2. DE
  3. Tech
Company description

Ceragon Networks Ltd. provides wireless backhaul solutions that enable cellular operators and other wireless service providers to deliver voice and data services worldwide. The last earnings update was 28 days ago. More info.


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  • Ceragon Networks has significant price volatility in the past 3 months.
GGN Share Price and Events
7 Day Returns
-4.3%
DB:GGN
-0.4%
DE Communications
2.1%
DE Market
1 Year Returns
37.4%
DB:GGN
20%
DE Communications
-7.6%
DE Market
GGN Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Ceragon Networks (GGN) -4.3% -23.3% -1.9% 37.4% 205.3% 42.7%
DE Communications -0.4% 17% 35.5% 20% -0.1% 51%
DE Market 2.1% 3.6% 8.1% -7.6% 9.8% 12.4%
1 Year Return vs Industry and Market
  • GGN outperformed the Communications industry which returned 20% over the past year.
  • GGN outperformed the Market in Germany which returned -7.6% over the past year.
Price Volatility
GGN
Industry
5yr Volatility vs Market

GGN Value

 Is Ceragon Networks undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Ceragon Networks to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Ceragon Networks.

DB:GGN Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 2 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 6.5%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:GGN
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Communications Unlevered Beta Simply Wall St/ S&P Global 1.08
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.085 (1 + (1- 23%) (0%))
1.057
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.06
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.057 * 5.96%)
6.53%

Discounted Cash Flow Calculation for DB:GGN using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Ceragon Networks is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

DB:GGN DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 6.53%)
2019 9.26 Est @ -17.95% 8.69
2020 8.10 Est @ -12.5% 7.14
2021 7.40 Est @ -8.68% 6.12
2022 6.95 Est @ -6.01% 5.40
2023 6.67 Est @ -4.14% 4.86
2024 6.48 Est @ -2.83% 4.43
2025 6.35 Est @ -1.91% 4.08
2026 6.27 Est @ -1.27% 3.78
2027 6.22 Est @ -0.82% 3.52
2028 6.19 Est @ -0.51% 3.29
Present value of next 10 years cash flows $51.31
DB:GGN DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $6.19 × (1 + 0.23%) ÷ (6.53% – 0.23%)
$98.49
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $98.49 ÷ (1 + 6.53%)10
$52.34
DB:GGN Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $51.31 + $52.34
$103.65
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $103.65 / 78.37
$1.32
DB:GGN Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:GGN represents 0.87151x of NasdaqGS:CRNT
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.87151x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 1.32 x 0.87151
€1.15
Value per share (EUR) From above. €1.15
Current discount Discount to share price of €3.12
= -1 x (€3.12 - €1.15) / €1.15
-170.7%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Ceragon Networks is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Ceragon Networks's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Ceragon Networks's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:GGN PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $0.29
NasdaqGS:CRNT Share Price ** NasdaqGS (2019-03-20) in USD $3.58
Germany Communications Industry PE Ratio Median Figure of 5 Publicly-Listed Communications Companies 26.61x
Germany Market PE Ratio Median Figure of 423 Publicly-Listed Companies 18.91x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Ceragon Networks.

DB:GGN PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGS:CRNT Share Price ÷ EPS (both in USD)

= 3.58 ÷ 0.29

12.21x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Ceragon Networks is good value based on earnings compared to the DE Communications industry average.
  • Ceragon Networks is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Ceragon Networks's expected growth come at a high price?
Raw Data
DB:GGN PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 12.21x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
-16.3%per year
Europe Communications Industry PEG Ratio Median Figure of 11 Publicly-Listed Communications Companies 0.88x
Germany Market PEG Ratio Median Figure of 276 Publicly-Listed Companies 1.44x

*Line of best fit is calculated by linear regression .

DB:GGN PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 12.21x ÷ -16.3%

-0.75x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Ceragon Networks earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Ceragon Networks's assets?
Raw Data
DB:GGN PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $2.01
NasdaqGS:CRNT Share Price * NasdaqGS (2019-03-20) in USD $3.58
Germany Communications Industry PB Ratio Median Figure of 7 Publicly-Listed Communications Companies 1.53x
Germany Market PB Ratio Median Figure of 570 Publicly-Listed Companies 1.79x
DB:GGN PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGS:CRNT Share Price ÷ Book Value per Share (both in USD)

= 3.58 ÷ 2.01

1.78x

* Primary Listing of Ceragon Networks.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Ceragon Networks is overvalued based on assets compared to the DE Communications industry average.
X
Value checks
We assess Ceragon Networks's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Communications industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Communications industry average (and greater than 0)? (1 check)
  5. Ceragon Networks has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

GGN Future Performance

 How is Ceragon Networks expected to perform in the next 1 to 3 years based on estimates from 2 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-16.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Ceragon Networks expected to grow at an attractive rate?
  • Ceragon Networks's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Ceragon Networks's earnings are expected to decrease over the next 1-3 years, this is below the Germany market average.
  • Ceragon Networks's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:GGN Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:GGN Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts -16.3%
DB:GGN Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts 1.3%
Germany Communications Industry Earnings Growth Rate Market Cap Weighted Average 24.1%
Europe Communications Industry Revenue Growth Rate Market Cap Weighted Average 2.5%
Germany Market Earnings Growth Rate Market Cap Weighted Average 11.4%
Germany Market Revenue Growth Rate Market Cap Weighted Average 5.9%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:GGN Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:GGN Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 353 17 2
2019-12-31 343 16 2
DB:GGN Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 344 21 23
2018-09-30 345 41 19
2018-06-30 334 16 16
2018-03-31 339 14 18
2017-12-31 332 17 16
2017-09-30 330 11 17
2017-06-30 333 21 17
2017-03-31 310 21 12
2016-12-31 294 26 11
2016-09-30 285 22 8
2016-06-30 291 29 6
2016-03-31 316 31 8

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Ceragon Networks's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Ceragon Networks's revenue is expected to grow by 1.3% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:GGN Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below

All data from Ceragon Networks Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:GGN Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31 0.21 0.21 0.21 1.00
2019-12-31 0.20 0.20 0.20 1.00
DB:GGN Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 0.29
2018-09-30 0.24
2018-06-30 0.20
2018-03-31 0.23
2017-12-31 0.20
2017-09-30 0.21
2017-06-30 0.21
2017-03-31 0.15
2016-12-31 0.15
2016-09-30 0.11
2016-06-30 0.08
2016-03-31 0.10

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Ceragon Networks will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Ceragon Networks's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Ceragon Networks has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

GGN Past Performance

  How has Ceragon Networks performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Ceragon Networks's growth in the last year to its industry (Communications).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Ceragon Networks has delivered over 20% year on year earnings growth in the past 5 years.
  • Ceragon Networks's 1-year earnings growth is less than its 5-year average (48.1% vs 66.8%)
  • Ceragon Networks's earnings growth has exceeded the Europe Communications industry average in the past year (48.1% vs 23.7%).
Earnings and Revenue History
Ceragon Networks's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Ceragon Networks Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:GGN Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 343.87 23.05 62.32 28.18
2018-09-30 344.81 18.66 62.41 27.96
2018-06-30 334.28 16.00 61.47 27.50
2018-03-31 339.29 17.76 61.01 26.81
2017-12-31 332.03 15.56 60.23 25.70
2017-09-30 330.02 16.68 58.63 24.93
2017-06-30 333.15 16.67 59.56 23.29
2017-03-31 309.83 11.74 59.36 22.52
2016-12-31 293.64 11.43 59.90 21.70
2016-09-30 284.62 8.33 60.07 21.25
2016-06-30 290.85 6.29 60.68 21.40
2016-03-31 315.62 7.57 60.78 21.81
2015-12-31 349.44 1.01 62.05 22.93
2015-09-30 384.96 -56.18 66.50 25.77
2015-06-30 398.60 -63.18 69.07 28.28
2015-03-31 394.25 -56.51 74.43 30.96
2014-12-31 371.11 -76.48 79.72 35.00
2014-09-30 349.44 -39.90 83.61 34.90
2014-06-30 342.53 -44.78 89.38 39.37
2014-03-31 342.19 -60.30 89.18 39.40
2013-12-31 361.77 -47.48 94.50 42.96
2013-09-30 379.13 -40.50 94.79 44.56
2013-06-30 390.00 -40.56 99.01 45.96
2013-03-31 426.70 -30.14 100.84 46.04
2012-12-31 446.65 -23.39 104.85 47.49
2012-09-30 458.29 -23.16 112.93 50.21
2012-06-30 471.44 -19.40 108.97 49.35
2012-03-31 462.74 -35.75 109.89 50.11

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Ceragon Networks has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Ceragon Networks used its assets more efficiently than the DE Communications industry average last year based on Return on Assets.
  • Ceragon Networks has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Ceragon Networks's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Communications industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Ceragon Networks has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

GGN Health

 How is Ceragon Networks's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Ceragon Networks's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Ceragon Networks is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Ceragon Networks's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Ceragon Networks's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Ceragon Networks has no debt, it does not need to be covered by short term assets.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Ceragon Networks Company Filings, last reported 2 months ago.

DB:GGN Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 159.57 0.00 36.10
2018-09-30 145.54 0.00 41.32
2018-06-30 138.47 0.00 29.40
2018-03-31 136.06 0.00 25.96
2017-12-31 133.90 0.00 25.88
2017-09-30 126.85 23.80 36.47
2017-06-30 123.66 8.00 34.09
2017-03-31 118.03 11.50 36.46
2016-12-31 116.16 17.00 36.34
2016-09-30 108.36 20.30 32.37
2016-06-30 104.05 21.45 34.53
2016-03-31 103.44 29.85 41.88
2015-12-31 102.82 34.92 36.32
2015-09-30 96.26 43.93 39.57
2015-06-30 96.80 50.99 39.89
2015-03-31 93.44 50.90 37.62
2014-12-31 104.55 50.90 42.37
2014-09-30 157.32 50.46 48.48
2014-06-30 119.13 73.30 32.26
2014-03-31 109.51 73.28 26.45
2013-12-31 135.08 57.23 48.35
2013-09-30 114.75 61.58 40.90
2013-06-30 124.31 54.34 45.23
2013-03-31 132.22 42.71 47.44
2012-12-31 143.71 43.77 47.52
2012-09-30 158.35 53.83 44.77
2012-06-30 159.01 45.48 40.85
2012-03-31 160.94 32.94 45.65
  • Ceragon Networks has no debt.
  • Ceragon Networks has no debt compared to 5 years ago when it was 42.6%.
  • Ceragon Networks has no debt, it does not need to be covered by operating cash flow.
  • Ceragon Networks has no debt, therefore coverage of interest payments is not a concern.
X
Financial health checks
We assess Ceragon Networks's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Ceragon Networks has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

GGN Dividends

 What is Ceragon Networks's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Ceragon Networks dividends.
If you bought €2,000 of Ceragon Networks shares you are expected to receive €0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Ceragon Networks's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Ceragon Networks's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:GGN Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
Europe Communications Industry Average Dividend Yield Market Cap Weighted Average of 10 Stocks 2.4%
Germany Market Average Dividend Yield Market Cap Weighted Average of 331 Stocks 3.1%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.5%
Germany Top 25% Dividend Yield 75th Percentile 3.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:GGN Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2020-12-31
2019-12-31

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Ceragon Networks has not reported any payouts.
  • Unable to verify if Ceragon Networks's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Ceragon Networks's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Ceragon Networks has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Ceragon Networks's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Ceragon Networks afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Ceragon Networks has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

GGN Management

 What is the CEO of Ceragon Networks's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Ira Palti
COMPENSATION $897,437
AGE 60
TENURE AS CEO 13.6 years
CEO Bio

Mr. Ira Palti has been the President and Chief Executive Officer of Ceragon Networks Ltd., since August 31, 2005 and its Director since June 2018. From January 2003 to August 2005, Mr. Palti was Chief Executive Officer of Seabridge Ltd., a Siemens company that is a global leader in the area of broadband services and networks. Prior to joining Seabridge, he was the Chief Operating Officer of VocalTec Communications Ltd., responsible for sales, marketing, customer support and product development. Among the positions he held before joining VocalTec was founder of Rosh Intelligent Systems, a company providing software maintenance and AI diagnostic solutions and one of the first startups in Israel. Mr. Palti served as the Chief Operating Officer since May 2001, President of the VocalTec business unit since November 1999 and as vice president of research and development since February 1999. From 1997 to 1999, Mr. Palti served as the Chief Executive Officer of Automedia Ltd. From 1995 to 1997, Mr. Palti served as the vice president of research and development at Netmanage Corp. From 1984 to 1994, Mr. Palti held various management and software development positions at Rosh/ServiceSoft Corp. Mr. Palti received a B.Sc. in Mathematics and Computer Science (Magna Cum Laude) from Tel Aviv University.

CEO Compensation
  • Ira's compensation has been consistent with company performance over the past year.
  • Ira's remuneration is higher than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Ceragon Networks management team in years:

4.2
Average Tenure
52.5
Average Age
  • The tenure for the Ceragon Networks management team is about average.
Management Team

Ira Palti

TITLE
President
COMPENSATION
$897K
AGE
60
TENURE
13.6 yrs

Chuck Meyo

TITLE
Regional President of North America
COMPENSATION
$552K
AGE
54
TENURE
7.2 yrs

Doron Arazi

TITLE
Deputy Chief Executive Officer
COMPENSATION
$584K
AGE
54
TENURE
0.1 yrs

Flavio Perrucchetti

TITLE
Regional President of Europe
COMPENSATION
$554K
AGE
50
TENURE
4.2 yrs

Amit Ancikovsky

TITLE
Regional President of Latin America & Africa
COMPENSATION
$630K
AGE
47
TENURE
4.2 yrs

Ran Vered

TITLE
Chief Financial Officer
AGE
39
TENURE
0.1 yrs

Yuval Reina

TITLE
Chief Operating Officer
AGE
51
TENURE
1.2 yrs

Guy Toibin

TITLE
Chief Information Officer
TENURE
2 yrs

Michal Machlav

TITLE
VP & General Counsel
TENURE
4.2 yrs

Oz Zimerman

TITLE
Executive Vice President of Global Corporate Development
AGE
54
TENURE
5.2 yrs
Board of Directors Tenure

Average tenure and age of the Ceragon Networks board of directors in years:

2.2
Average Tenure
66.5
Average Age
  • The average tenure for the Ceragon Networks board of directors is less than 3 years, this suggests a new board.
Board of Directors

Zohar Zisapel

TITLE
Chairman
AGE
69
TENURE
22.7 yrs

Ira Palti

TITLE
President
COMPENSATION
$897K
AGE
60
TENURE
0.8 yrs

Yair Orgler

TITLE
External Director
AGE
79
TENURE
12 yrs

Shlomo Liran

TITLE
Director
AGE
67
TENURE
3.6 yrs

Yael Langer

TITLE
Director
AGE
53
TENURE
18.3 yrs

Avi Eizenman

TITLE
Director
AGE
61
TENURE
0.8 yrs

Avi Berger

TITLE
Director
AGE
66
TENURE
0.8 yrs

Meir Sperling

TITLE
Director
AGE
69
TENURE
0.8 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Ceragon Networks's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Ceragon Networks has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

GGN News

Simply Wall St News

GGN Company Info

Description

Ceragon Networks Ltd. provides wireless backhaul solutions that enable cellular operators and other wireless service providers to deliver voice and data services worldwide. Its wireless backhaul solutions use microwave radio technology to transfer telecommunication traffic between base stations, small sells, and the core of the service provider’s network. The company also provides wireless fronthaul solutions that use microwave technology for communication between LTE/LTE-advanced base band digital unit stations and remote radio heads. In addition, it offers IP-20 Platform solutions for various short-haul and long-haul applications, including IP-20N/IP-20A, IP-20GX, IP-20F, IP-20G, IP-20C, IP-20C-HP, IP-20S, IP-20E, and IP-20V. Further, the company provides network management system; and network and radio planning, site survey, solutions development, installation, maintenance, training, and other services. Ceragon Networks Ltd. provides its services to smart-phone applications, such as Internet browsing, social networking, image sharing, music, and video applications; oil and gas companies; public safety organizations; business and public institutions; broadcasters; energy utilities; and private communications networks. The company sells its products through direct sales, original equipment manufacturers, resellers, 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 Tel Aviv, Israel.

Details
Name: Ceragon Networks Ltd.
GGN
Exchange: DB
Founded: 1996
$251,235,727
78,370,392
Website: http://www.ceragon.com
Address: Ceragon Networks Ltd.
24 Raoul Wallenberg Street,
Tel Aviv,
69719,
Israel
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGS CRNT Ordinary Shares Nasdaq Global Select US USD 04. Aug 2000
DB GGN Ordinary Shares Deutsche Boerse AG DE EUR 04. Aug 2000
Number of employees
Current staff
Staff numbers
905
Ceragon Networks employees.
Industry
Communications Equipment
Tech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/03/20 21:31
End of day share price update: 2019/03/20 00:00
Last estimates confirmation: 2019/02/20
Last earnings filing: 2019/02/20
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.