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EXTREME NETWORKS INC USD

At a glance: strengths & risks
✓Margins improving (-3%→3%)✓Net cash balance sheet✗Loss-making last FY

Sector: United States — large cap (SEC filings)

US_EXTR

Price chart

23.9 USDDay 1.53%

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
23.9 USD · 1.53%
Market cap
3.2 bn USD

Growth

Δ revenue y/y
10.3%
Δ EBITDA y/y
717.2%

Multiples

P/E (LTM)
75.2x
P/B (FY)
48.2x
P/E (ann.)
43.9x
EV/EBITDA (LTM)
42.2x
EV/EBITDA (ann.)
37.8x

Cash return

Dividend yield
—
FCF yield (LTM)
8.4%

Value creation

fundamental value/yr, % of market cap
Value created / year
+10.1%
↓ details

Liquidity

Daily turnover (US listing)
28.6 mln USD

Shares: yahoo_fundamentals_timeseries/EXTR

Financial results

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
2026-06-30Q2 2026 (3M)PARTIAL338.6
y/y —
21.1
y/y —
—
y/y —
21.1
y/y —
18.0
y/y —
72.9——
y/y —
—
y/y —
—≈ 25.6—
2026-03-31Q1 2026 (3M)OK316.9
y/y 11.4%
17.3
y/y 67.1%
4.2
y/y 6.3%
21.6
y/y 50.3%
10.6
y/y 206.2%
14.2-6.41170.1
y/y 9.0%
79.0
y/y 10.1%
16.1%25.6Link
2025-12-31Q4 2025 (3M)OK317.9
y/y 13.8%
13.0
y/y 2.6%
4.4
y/y 0.7%
17.4
y/y 2.1%
7.9
y/y 6.7%
50.1-7.11168.7
y/y 8.1%
95.9
y/y 87.3%
38.3%-7.7Link
2025-09-30Q3 2025 (3M)OK310.2
y/y 15.2%
11.3
y/y —
4.3
y/y -3.5%
15.6
y/y —
5.6
y/y —
-14.0-6.91153.0
y/y 9.1%
68.6
y/y 109.5%
33.5%33.4Link
2025-06-30Q2 2025 (3M)OK307.0
y/y 19.6%
-1.4
y/y 97.2%
4.0
y/y -63.4%
2.6
y/y 106.8%
-7.8
y/y 85.6%
81.9-6.61153.2
y/y 10.6%
65.6
y/y 159.4%
-10.9%-8.3Link
2025-03-31Q1 2025 (3M)OK284.5
y/y 34.8%
10.4
y/y —
4.0
y/y -18.2%
14.3
y/y —
3.5
y/y —
30.0-5.71073.1
y/y -1.1%
71.7
y/y 10.4%
7.5%41.8Link
2024-12-31Q4 2024 (3M)OK279.4
y/y -5.7%
12.7
y/y 22.8%
4.4
y/y -14.8%
17.0
y/y 10.3%
7.4
y/y 85.1%
21.5-5.41080.9
y/y -5.4%
51.2
y/y -52.7%
70.4%61.3Link
2024-09-30Q3 2024 (3M)OK269.2
y/y -23.8%
-4.7
y/y -113.1%
4.5
y/y -17.2%
-0.3
y/y -100.6%
-10.5
y/y -136.6%
18.6-6.91056.5
y/y -4.5%
32.7
y/y -69.8%
-144.9%76.6Link
2024-06-30Q2 2024 (3M)OK256.7
y/y —
-48.9
y/y —
10.8
y/y —
-38.1
y/y —
-54.2
y/y —
15.5-4.51042.6
y/y -8.7%
25.3
y/y -78.3%
-190.5%82.9Link
2024-03-31Q1 2024 (3M)OK211.0
y/y -36.5%
-62.5
y/y -311.2%
4.8
y/y -12.5%
-57.6
y/y -264.1%
-64.4
y/y -391.1%
-69.9-3.71085.5
y/y 1.6%
65.0
y/y -37.0%
-99.2%91.2Link
2023-12-31Q4 2023 (3M)OK296.4
y/y —
10.3
y/y —
5.1
y/y —
15.4
y/y —
4.0
y/y —
34.2-5.61142.7
y/y —
108.2
y/y —
14.7%25.4Link
2023-09-30Q3 2023 (3M)OK353.1
y/y —
35.9
y/y —
5.4
y/y —
41.3
y/y —
28.7
y/y —
75.6-4.31106.5
y/y —
108.5
y/y —
101.9%21.7Link
2023-06-30FY 2023 (12M)OK—
y/y —
—
y/y —
—
y/y —
—
y/y —
—
y/y —
——1141.7
y/y —
116.8
y/y —
71.0%29.8Link
2023-03-31Q1 2023 (3M)OK332.5
y/y —
29.6
y/y —
5.5
y/y —
35.1
y/y —
22.1
y/y —
48.2-2.41068.4
y/y —
103.2
y/y —
—84.9Link

Net debt structure (leases included, IFRS 16) 2026-03-31

Short-term debt (incl. ST leases)60
Long-term debt (incl. LT leases)175
− Cash & equivalents210
Net debt26

Net debt / LTM EBITDA: 0.3x

Revenue & EBITDA

RevenueEBITDA

Quarterly values ($ mln)

-10001002003002024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Year-over-year change

-300%-200%-100%0%100%2024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Cash flow

FCF ($ mln)

-100-500501002024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Net debt / cash ($ mln)

-200204060801002024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Profit and cash

Worth a look
In a typical year of 2021–2025 operating cash flow came to 3.04x of reported net profit; after capex, 2.78x. Loss years (2024, 2025) are left out of the ratio.
year20212022202320242025
cash flow / profit—2.90x3.19x——
accruals, % of assets-14.1%-7.8%-15.0%-13.6%-13.8%
Last twelve months (to 2026-06-30): 2.93x of profit came back as operating cash flow.
net debt / EBITDA -0.2x · EBIT covers interest 1.1x · capex 0.8x of depreciation · share count +0.9% a year
● EBIT covers interest 1.1x.
Read from the reported annual statements: cash flow / profit is the median of the yearly operating cash flow over net profit for the years shown; accruals are (profit − operating cash flow) / assets, the classic gap between what was booked and what was collected. A gap can be growth in working capital, capitalised costs, revaluations or profit from associates — the panel points at it, the statements explain it. Not investment advice.

Fundamental value creation

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

Value created per year: +10.1%

How this was calculated
1. EBITDA growth (latest quarter YoY, annualised)
[EBITDA latest qtr − EBITDA year-ago qtr] × annualisation X
= —
16
2. Current EV/EBITDA (LTM)
(Market cap + Net debt) ÷ EBITDA (LTM)
= (3 163 + 26) ÷ 50
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
= 43 + 0 + 38 − 0
81
4b. Share dilution (at market, LTM)
Share-count growth over the year × Market cap
= 3.0% × 3 163
−94
5. Value created per year
(EBITDA growth × Target multiple + Cash flow − Dilution) ÷ Market cap
= (16 × 21.0 + 81 − 94) ÷ 3 163
+10.1%

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

Caveats:

  • LTM EBITDA = FY2024 + Q12025 - Q12024 (cumulative-YTD reporter); ΔEBITDA vs prior full year
  • cash flow = net-debt reduction + dividends + buybacks (balance method)
  • share-count dilution 3.0%/yr (valued at market: -94)

Revenue growth & acceleration

Growth accelerating ▲
Last-year revenue growth +2% vs -15% the year before — a +16.9 pp move. 3-year CAGR +1%.
revenue growth by year: 2023 +18% · 2024 -15% · 2025 +2%
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).

EV/EBITDA — daily history

Current 70.1x · 3-year average 75.8x

EV/EBITDA3-year 75th pct

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)

Financial results, valuation multiples (P/E, P/B, EV/EBITDA), profitability and dividend yield of EXTREME NETWORKS INC — from primary filings.

Provides cloud-managed enterprise networking hardware and software.

Frequently asked questions

What is EXTREME NETWORKS INC's P/E ratio?
EXTREME NETWORKS INC trades at a P/E of 75.2x (price to trailing 12-month earnings).
What is EXTREME NETWORKS INC's EV/EBITDA?
EXTREME NETWORKS INC trades at 42.2x EV/EBITDA.
What is EXTREME NETWORKS INC's P/B ratio?
EXTREME NETWORKS INC trades at a P/B of 48.2x.
What is EXTREME NETWORKS INC's return on equity (ROE)?
EXTREME NETWORKS INC's ROE is 16.1%.
What is EXTREME NETWORKS INC's market capitalization?
EXTREME NETWORKS INC's market cap is 3.2 bn USD.

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