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CALIX, INC USD

Update

Supplies cloud software platforms and access systems for broadband service providers.

Sector: United States — large cap (SEC filings)

US_CALX

Price chart

38.33 USDDay -0.16%

Key metrics

Net debt (table and EV/EBITDA): |short-term borrowings| + |long-term borrowings| + |other financial liabilities| when extracted + |non-controlling interest| when extracted − |cash and equivalents|; amounts in millions of the reporting currency.

Market

Price
38.33 USD · -0.16%
Market cap
2.7 bn USD

Growth

Δ revenue y/y
27.1%
Δ EBITDA y/y

Multiples

P/E (LTM)
78.4x
3y avg: 154.2x
P/B (FY)
3.1x
P/E (ann.)
59.2x
EV/EBITDA (LTM)
45.2x
3y avg: 80.7x
EV/EBITDA (ann.)
38.1x

Cash return

Dividend yield
FCF yield (LTM)
9.8%

Value creation

fundamental value/yr, % of market cap
Value created / year

Liquidity

Daily turnover (US listing)
18.1 mln USD

Shares: yahoo_fundamentals_timeseries/CALX

🔍 Sanity check — subtotal consistency (Level-1 + Level-2) OK: 0 / Warn: 8 / Err: 5 / Autofix applied: 0
Port of PHP subtotal-total + sign-flip detection logic
PeriodIssues
2023-04-01 Q1Warn 1
2023-07-01 Q2Warn 1
2023-09-30 Q3Errors 1Warn 1
2023-12-31 FYWarn 1
2024-03-30 Q1Errors 2Warn 3
2024-06-29 Q2Warn 1
2024-09-28 Q3Warn 1
2024-12-31 FYWarn 1
2025-03-29 Q1Errors 2Warn 1
2025-06-28 Q2Errors 1Warn 3
2025-09-27 Q3Warn 1
2025-12-31 FYWarn 1
2026-03-28 Q1Errors 4Warn 2
All checks pass · Has warnings (review) · Has errors (needs fix) · ✓* Autofix applied (see evidence)

Financial dynamics

Monetary columns are in M USD, one decimal; scale (K/M/B/T) keeps values readable. For the period (default) shows P&L and cash flow for that row’s reporting window: quarterly amounts when the feed uses quarter-duration facts (typical US 10-Q revenue and income), quarterly cash flows after stripping YTD where only cumulative tags exist, and an implied Q4 on 31 Dec FY rows (P&L: FY minus Q1–Q3; operating / investing cash flow: FY 12m minus 9M YTD to 30 Sep when sourced from SEC builder evidence) so they match 10-Q scale. Some issuers still use cumulative YTD minus the prior row in the same calendar year. As reported shows values stored on each row (e.g. full-year on FY). Balance sheet is always as reported. Source JSON may use millions etc.; conversion uses amounts_unit per row.

DatePeriodStatusRevenueM USDOperating profitM USDD&AM USDEBITDAM USDNet profitM USDOperating CFM USDCapex + M&AM USDAssetsM USDEquityM USDROE (annualized)Net debtM USDSource
2026-03-28Q1 2026 (3M)OK280.0
y/y 27.1%
12.7
y/y
4.4
y/y 2.5%
17.1
y/y
11.2
y/y
14.6-8.1951.4
y/y 3.7%
738.0
y/y -3.8%
5.6%-51.7Link
2025-12-31Q4 2025 (3M)OK272.4
y/y 32.2%
9.3
y/y 149.5%
4.4
y/y -7.3%
13.7
y/y 197.6%
7.2
y/y 140.2%
46.0-5.81058.5
y/y 12.7%
859.2
y/y 10.0%
2.1%-140.2Link
2025-09-27Q3 2025 (3M)OK265.4
y/y 32.1%
17.4
y/y
4.7
y/y -2.5%
22.1
y/y
15.7
y/y
32.3-5.6976.4
y/y 4.1%
822.5
y/y 5.6%
2.6%-93.0Link
2025-06-28Q2 2025 (3M)OK241.9
y/y 22.1%
0.4
y/y
4.3
y/y -15.2%
4.7
y/y
-0.2
y/y
39.4-3.7921.4
y/y 0.4%
772.7
y/y 2.4%
-0.1%-73.5Link
2025-03-29Q1 2025 (3M)OK220.2
y/y -2.7%
-6.1
y/y
4.3
y/y -12.2%
-1.8
y/y -163.8%
-4.8
y/y -4747.6%
17.2-4.3917.1
y/y -0.6%
767.2
y/y 3.3%
-2.5%-38.6Link
2024-12-31Q4 2024 (3M)OK206.1
y/y -22.1%
-18.8
y/y -55.1%
4.7
y/y 6.6%
-14.0
y/y -83.3%
-17.9
y/y -171.6%
15.4-5.1939.3
y/y -0.3%
780.9
y/y 8.6%
-3.8%-38.9Link
2024-09-28Q3 2024 (3M)OK200.9
y/y -23.8%
-10.9
y/y -168.4%
4.8
y/y 12.9%
-6.1
y/y -130.1%
-4.0
y/y -123.4%
16.0-3.2937.5
y/y 1.2%
778.7
y/y 3.7%
-0.7%-58.0Link
2024-06-29Q2 2024 (3M)OK198.1
y/y -24.1%
-11.4
y/y -196.1%
5.1
y/y 22.2%
-6.2
y/y -139.0%
-8.0
y/y -184.9%
22.3-6.0917.9
y/y -2.5%
754.2
y/y 1.7%
-4.3%-80.2Link
2024-03-30Q1 2024 (3M)OK226.3
y/y -9.5%
-2.0
y/y -120.5%
4.9
y/y 30.7%
2.8
y/y -79.2%
0.1
y/y -98.9%
14.7-3.7922.8
y/y 0.9%
742.7
y/y 3.5%
0.1%-84.2Link
2023-12-31Q4 2023 (3M)OK264.7
y/y
-12.1
y/y
4.5
y/y
-7.6
y/y
-6.6
y/y
14.9-4.0941.9
y/y
719.0
y/y
4.0%-59.3Link
2023-09-30Q3 2023 (3M)OK263.8
y/y
15.9
y/y
4.3
y/y
20.2
y/y
17.0
y/y
15.8-3.8926.7
y/y
750.9
y/y
3.0%-131.7Link
2023-07-01Q3 2023 (3M)OK261.0
y/y
11.8
y/y
4.2
y/y
16.0
y/y
9.4
y/y
17.5-5.5941.8
y/y
741.8
y/y
5.1%-86.3Link
2023-04-01Q2 2023 (3M)OK250.0
y/y
9.9
y/y
3.7
y/y
13.7
y/y
9.6
y/y
8.1-4.6914.8
y/y
717.8
y/y
-90.1Link
Data quality No obvious scale, balance-sheet, or cash-flow sanity issues in the displayed periods.

Revenue & EBITDA

RevenueEBITDA

Quarterly values ($ mln)

-10001002003002023 q32024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Year-over-year change

-200%-150%-100%-50%0%50%2023 q32024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Cash flow

FCF ($ mln)

-50-2502550752023 q32024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Net debt / cash ($ mln)

-150-100-5002023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Revenue growth & acceleration

Growth accelerating ▲
Last-year revenue growth +20% vs -20% the year before — a +40.3 pp move. 3-year CAGR +5%.
revenue growth by year: 2023 +20% · 2024 -20% · 2025 +20%
The growth-acceleration signal behind the GARP+acceleration strategy — it favours companies whose revenue growth is speeding up and flags those slowing down (the second derivative of growth).

Fundamental value creation

Value the company creates per year, as a % of market cap

Value created per year: +14.8%

How this was calculated
1. EBITDA growth (latest quarter YoY, annualised)
[EBITDA latest qtr − EBITDA year-ago qtr] × annualisation X (2026-03-28 vs 2025-03-29)
= (17 − 13) × 3.37
12
2. Current EV/EBITDA (LTM)
(Market cap + Net debt) ÷ EBITDA (LTM)
= (2 656 + -52) ÷ 58
30.0x — capped at 30x
3. Target multiple
(Current EV/EBITDA + 12) ÷ 2
= (30.0 + 12) ÷ 2
21.0x
4. Cash flow (balance method, LTM)
Net-debt reduction + dividends + buybacks − equity issuance
= 13 + 0 + 225 − 0
238
4b. Share dilution (at market, LTM)
Share-count growth over the year × Market cap
= 3.9% × 2 656
−102
5. Value created per year
(EBITDA growth × Target multiple + Cash flow − Dilution) ÷ Market cap
= (12 × 21.0 + 238 − 102) ÷ 2 656
+14.8%

Amounts in millions of the reporting currency. EBITDA growth is the latest quarter vs the same quarter a year ago, annualised.

Caveats:

Dividends

No dividend rows found for this issuer (checked: Yahoo Finance (ex-div)).

Reporting forms detected in loaded periods: (Balance sheet / Profit or loss (P&L) / Cash flows)