Calix Inc Common Stock (CALX)

FairStock Score: 44/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

As a Graham-and-Buffett-style investor, I first ask what is paid versus what is received. On 2026-10-13, Calix closed at $36.31, for a $2.3 billion market value. FairStock calculations show P/E 47.78, P/B 3.22, EV/EBITDA 28.20, and a Graham Number of $13.89, giving a margin of safety of negative 161.41%. That is not a bargain by asset or earnings standards. The business is improving: in fiscal Q2 2026, the quarter ended 2026-06-27, revenue was $293.3 million and net income was $17.1 million, or diluted EPS $0.26. A year earlier, in fiscal Q2 2025, the quarter ended 2025-06-28, revenue was $241.9 million and net income was a loss of $0.199 million. For FY2025, ended 2025-12-31, revenue was $1.0 billion and net income was $17.9 million, versus FY2024 revenue of $831.5 million and a net loss of $29.7 million. So the FairStock Lynch category of TURNAROUND, returned to profit after a loss within the last three years, fits. Financial health looks solid on debt: D/E 0.02 and Altman Z-Score 5.98, plus trailing free cash flow of $85.4 million. But returns on capital are weak: ROE 6.91%, ROCE 4.08%, and Piotroski F-Score 6/9. Revenue growth is real, yet the latest net margin was 5.83%. Until returns improve and price is closer to intrinsic value, I see a promising story but no margin of safety.

In plain English: Calix sells cloud software and equipment that help broadband providers run their networks and services. The business is growing and has returned to profit after a loss, but it earns only modest profits relative to sales and shareholder money. At $36.31 a share, the price looks expensive compared with those profits and accounting value, even though cash flow is positive.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-27) · fiscal Q1 2026 10-Q (period ended 2026-03-28) · fiscal Q3 2025 10-Q (period ended 2025-09-27) · fiscal Q2 2025 10-Q (period ended 2025-06-28) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer