15 years of revenue, profit, cash flow and balance-sheet history through FY2025,
from SEC filings — with a computed, factual read of the trend.
Updated Overview →
Growth & profitability
Revenue has grown 3.8% per year over the past 5 years.
Net income has grown faster than revenue (16.0% vs 3.8% per year).
Operating margin has expanded, at 3.8% in the latest year.
Free cash flow has declined 5.5% per year over the past 5 years.
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Return on equity & assets (ROE / ROA)
ROEROA
Free cash flow (CFO − capex)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key annual figures
FY
Revenue
Net income
Gross M
Op M
ROE
ROA
FCF
Total debt
Cash
2025
$302M
$20M
80.7%
3.8%
5.8%
3.0%
$42M
—
$105M
2024
$275M
$6M
80.6%
-1.4%
1.9%
1.0%
$66M
—
$99M
2023
$261M
-$22M
80.2%
-12.1%
-7.6%
-3.8%
-$9M
—
$71M
2022
$293M
-$166000
81.6%
-1.1%
-0.0%
-0.0%
$23M
—
$46M
2021
$286M
$8M
81.7%
6.4%
2.1%
1.2%
$66M
—
$93M
2020
$250M
$10M
82.0%
2.5%
2.5%
1.5%
$55M
—
$55M
2019
$252M
$23M
82.1%
6.7%
5.7%
3.8%
$45M
—
$41M
2018
$234M
$12M
82.2%
3.2%
3.2%
2.2%
$40M
—
$45M
2017
$211M
-$7M
81.3%
-3.2%
-2.4%
-1.6%
$24M
—
$65M
2016
$197M
-$9M
81.8%
-6.5%
-2.9%
-2.0%
$29M
—
$80M
2015
—
$19M
—
—
5.8%
4.3%
$25M
—
$34M
2014
—
$25M
—
—
7.5%
5.6%
—
—
$45M
2013
—
$18M
—
—
6.1%
4.6%
—
—
$20M
2012
—
$32M
—
—
11.7%
8.9%
$42M
—
$20M
2011
—
$21M
—
—
9.7%
7.2%
$36M
—
$17M
Valuation over time
How the market has priced RDWR against its own fundamentals since 2023-03 —
each month-end's share price set against the most recent annual filing, so the multiple moves
as price runs ahead of (or behind) earnings. Split-adjusted.
The price-to-earnings ratio has fallen from 160.9× (Dec '24) to 71.5× (Nov '26).
The price-to-sales ratio has risen from 3.2× (Mar '23) to 4.8× (Nov '26).
Price / earnings (P/E)
P/E
Price / sales (P/S)
P/S
Frequently asked questions
Is RDWR growing its revenue and profit?
Over the past 5 years, RADWARE LTD's revenue has grown 3.8% per year, and net income grown 16.0% per year. These are computed facts, not advice.
How much debt does RDWR have?
As of FY2025, RADWARE LTD reported — of total debt against $105M of cash.
What is RDWR's profit margin?
In FY2025, gross margin was 80.7%, operating margin 3.8%, and net margin 6.7%.
What is RDWR's P/E ratio?
RADWARE LTD's P/E (TTM) is 71.54 as of the 2026-11-03 close — market cap ÷ net income over the trailing twelve months where four consecutive quarters are reported, otherwise the latest fiscal year, the same figure as on the RDWR stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 71.5× as of Nov '26) can differ. These are computed facts, not advice.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), split-adjusted; price return — dividends not reinvested ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.