NYSE:CALX

Stock Analysis Report

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Executive Summary

Calix, Inc., together with its subsidiaries, provides cloud and software platforms, and systems and services required to deliver the unified access network in the United States, the Middle East, Canada, Europe, the Caribbean, and internationally. More Details


Snowflake Analysis

Excellent balance sheet with questionable track record.


Similar Companies

Share Price & News

How has Calix's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: CALX is more volatile than 75% of US stocks over the past 3 months, typically moving +/- 11% a week.

Volatility Over Time: CALX's weekly volatility (11%) has been stable over the past year, but is still higher than 75% of US stocks.


Market Performance


7 Day Return

-6.3%

CALX

1.8%

US Communications

1.8%

US Market


1 Year Return

198.2%

CALX

-4.5%

US Communications

20.4%

US Market

Return vs Industry: CALX exceeded the US Communications industry which returned -4.5% over the past year.

Return vs Market: CALX exceeded the US Market which returned 20.4% over the past year.


Shareholder returns

CALXIndustryMarket
7 Day-6.3%1.8%1.8%
30 Day-9.7%9.1%6.0%
90 Day15.5%0.7%6.8%
1 Year198.2%198.2%-1.9%-4.5%23.2%20.4%
3 Year256.5%256.5%15.1%7.1%47.4%37.6%
5 Year200.1%200.1%56.1%38.4%91.9%70.8%

Long-Term Price Volatility Vs. Market

How volatile is Calix's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Calix undervalued compared to its fair value and its price relative to the market?

10.8%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: CALX ($23.53) is trading below our estimate of fair value ($26.39)

Significantly Below Fair Value: CALX is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: CALX is poor value based on its PE Ratio (136.9x) compared to the US Communications industry average (36.2x).

PE vs Market: CALX is poor value based on its PE Ratio (136.9x) compared to the US market (19.7x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate CALX's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: CALX is overvalued based on its PB Ratio (5.9x) compared to the US Communications industry average (1.8x).


Next Steps

Future Growth

How is Calix forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

7.7%

Forecasted annual revenue growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if CALX's forecast earnings growth is above the savings rate (2.2%).

Earnings vs Market: Insufficient data to determine if CALX's earnings are forecast to grow faster than the US market

High Growth Earnings: Insufficient data to determine if earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: CALX's revenue (7.7% per year) is forecast to grow slower than the US market (10.2% per year).

High Growth Revenue: CALX's revenue (7.7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if CALX's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Calix performed over the past 5 years?

15.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: CALX has a large one-off loss of $6.3M impacting its September 26 2020 financial results.

Growing Profit Margin: CALX became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: CALX has become profitable over the past 5 years, growing earnings by 15.6% per year.

Accelerating Growth: CALX has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: CALX has become profitable in the last year, making it difficult to compare its past year earnings growth to the Communications industry (-4.9%).


Return on Equity

High ROE: CALX's Return on Equity (4%) is considered low.


Next Steps

Financial Health

How is Calix's financial position?


Financial Position Analysis

Short Term Liabilities: CALX's short term assets ($224.8M) exceed its short term liabilities ($92.7M).

Long Term Liabilities: CALX's short term assets ($224.8M) exceed its long term liabilities ($45.1M).


Debt to Equity History and Analysis

Debt Level: CALX's debt to equity ratio (2.1%) is considered satisfactory.

Reducing Debt: Insufficient data to determine if CALX's debt to equity ratio has reduced over the past 5 years.

Debt Coverage: CALX's debt is well covered by operating cash flow (417.8%).

Interest Coverage: CALX's interest payments on its debt are well covered by EBIT (11.7x coverage).


Balance Sheet


Next Steps

Dividend

What is Calix current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

Notable Dividend: Unable to evaluate CALX's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate CALX's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if CALX's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if CALX's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of CALX's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

3.3yrs

Average management tenure


CEO

Carl Russo (64 yo)

17.92yrs

Tenure

US$875,000

Compensation

Mr. Carl E. Russo has been the Chief Executive Officer and President of Calix Inc. (alternative name, Calix Networks, Inc) since December 2002. Before taking an active role with Calix, Mr. Russo served as ...


CEO Compensation Analysis

Compensation vs Market: Carl's total compensation ($USD875.00K) is below average for companies of similar size in the US market ($USD4.16M).

Compensation vs Earnings: Carl's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Carl Russo
CEO, President & Director17.92yrsUS$875.00k9.01%
$ 131.0m
Cory Sindelar
CFO & Chief Accounting Officer3.08yrsUS$2.33m0.12%
$ 1.7m
Michael Weening
Executive VP & COO1.83yrsUS$4.16m0.020%
$ 293.8k
Thomas Dinges
Director of Investor Relationsno datano datano data
Suzanne Tom
Senior VP5.25yrsno datano data
Mark Dressler
Senior Vice President of Global Sales2.83yrsno datano data
Matt Collins
Chief Marketing Officer3.33yrsno datano data
Todd Ortberg
Senior Vice President of Strategic Developmentno datano datano data
Mehdi Bradaran
Senior Vice President of Product Operations6.33yrsUS$1.11mno data
Michel Langlois
Chief Development Officer of Intelligent Access EDGE Products6.33yrsUS$1.74mno data
Shane Eleniak
Senior Vice President of Revenue EDGE Products2.83yrsno datano data

3.3yrs

Average Tenure

58yo

Average Age

Experienced Management: CALX's management team is considered experienced (3.3 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Carl Russo
CEO, President & Director17.92yrsUS$875.00k9.01%
$ 131.0m
Donald Listwin
Independent Chairman13.33yrsUS$250.62k1.72%
$ 25.1m
Kevin DeNuccio
Independent Director8.17yrsUS$195.62k0.34%
$ 5.0m
Michael Matthews
Independent Director9.92yrsUS$198.12k0.098%
$ 1.4m
Christopher Bowick
Independent Director6.33yrsUS$203.12k0.14%
$ 2.1m
Kira Makagon
Independent Director3.33yrsUS$188.12k0.084%
$ 1.2m
Kathleen Crusco
Independent Director3.17yrsUS$198.12k0.11%
$ 1.6m
J. Plants
Independent Director2.67yrsUS$191.24k0.079%
$ 1.1m
Michael Everett
Independent Director13.25yrsUS$218.12k0.23%
$ 3.4m
Kevin Peters
Independent Director6.08yrsUS$198.12k0.18%
$ 2.7m

7.3yrs

Average Tenure

61yo

Average Age

Experienced Board: CALX's board of directors are considered experienced (7.3 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: CALX insiders have sold more shares than they have bought in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 11.3%.


Top Shareholders

Company Information

Calix, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Calix, Inc.
  • Ticker: CALX
  • Exchange: NYSE
  • Founded: 1999
  • Industry: Communications Equipment
  • Sector: Tech
  • Market Cap: US$1.454b
  • Shares outstanding: 61.77m
  • Website: https://www.calix.com

Number of Employees


Location

  • Calix, Inc.
  • 2777 Orchard Parkway
  • San Jose
  • California
  • 95134
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CALXNYSE (New York Stock Exchange)YesCommon StockUSUSDMar 2010
CXADB (Deutsche Boerse AG)YesCommon StockDEEURMar 2010

Biography

Calix, Inc., together with its subsidiaries, provides cloud and software platforms, and systems and services required to deliver the unified access network in the United States, the Middle East, Canada, Eu...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/11/25 00:24
End of Day Share Price2020/11/24 00:00
Earnings2020/09/26
Annual Earnings2019/12/31


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.