$34.81

-0.09 (-0.26%)

Weekly Expected Move ±3.8%

$32 $33 $35 $36 $37

NYSE · Technology · Communication Equipment · Tech Score Neutral · Power 47 · $2.2B mcap · 57M float · 1.99% daily turnover · Short 44% of daily vol

Edge Score

Quantitative competitive moat analysis scoring five pillars of durable advantage — cost leadership, brand intangibles, switching costs, network effects, and efficient scale — using industry percentile rankings on a 0–100 scale.

NARROW EDGE

62.3 / 100

NoneWeakNarrowWide

Primary source: Intangible Assets · ROIC: 8.2% · 5Y Avg: 12.0%

Cost Advantage

Intangibles

Switching Cost

Network Effect

Scale

The Edge Score quantifies a company's competitive moat using five pillars: Cost Advantage (20%, operating margin and SG&A efficiency vs industry peers), Intangible Assets (25%, gross margin premium, R&D intensity, brand pricing power), Switching Costs (25%, revenue stability, earnings consistency, customer retention proxied by operating leverage), Network Effects (15%, revenue growth with expanding margins, market share dominance), and Efficient Scale (15%, market concentration, ROIC sustainability). Each pillar is scored 0–100 using industry percentile rankings, then weighted into a composite. Wide ≥ 70, Narrow ≥ 55, Weak ≥ 40, None < 40. CALX has a Narrow competitive edge (62.3/100) — meaningful but not impregnable advantages over competitors. The primary source of advantage is Intangible Assets. ROIC of 8.2% suggests modest returns relative to capital deployed.

Analyst Insights

Wall Street analyst consensus based on price targets and buy/sell/hold recommendations from institutional research coverage over the trailing 12 months.

Analyst Price Targets

$52

Low

$52

Avg Target

$52

High

Based on 1 analyst since Jul 20, 2026 earnings

Analyst Recommendations

Strong Buy: 0Buy: 15Hold: 5Sell: 1Strong Sell: 0

Rating Summary

ConsensusBuy

Avg Target$52.00

Analysts1

Price Target Change History

Date	Firm	Analyst	Old	New	Change	Upside @ Call	Stock@Call
2026-07-21	Northland Securities	Tim Savageaux	$65	$52	-13	+39.6%	$37.24
2026-04-23	Needham	—	$82	$62	-20	+45.4%	$42.65
2026-01-30	Craig-Hallum	—	$75	$60	-15	+28.2%	$46.81
2025-10-31	Needham	—	$45	$82	+37	+18.5%	$69.17
2025-10-31	Craig-Hallum	—	$41	$75	+34	+8.4%	$69.18
2025-10-31	UBS	Tim Savageaux	Initiated	$75	—	+8.4%	$69.18
2025-10-30	Roth Capital	—	$50	$85	+35	+24.9%	$68.04
2025-04-22	Roth Capital	—	$72	$50	-22	+32.9%	$37.61
2024-10-29	Needham	Ryan Koontz	$88	$45	-43	+14.0%	$39.47
2024-10-03	Rosenblatt Securities	Mike Genovese	$35	$45	+10	+20.1%	$37.48
2024-04-24	Jefferies	George Notter	$90	$30	-60	+6.2%	$28.25
2024-04-24	Craig-Hallum	Christian Schwab	Initiated	$41	—	+45.9%	$28.11
2024-04-23	Rosenblatt Securities	Mike Genovese	$75	$35	-40	+18.4%	$29.56
2023-04-24	Roth Capital	Roth MKM Ratings	Initiated	$72	—	+49.9%	$48.02
2023-02-06	Rosenblatt Securities	—	$65	$75	+10	+42.9%	$52.48
2023-01-12	Jefferies	George Notter	$69	$90	+21	+50.4%	$59.85
2023-01-12	Needham	Ryan Koontz	$70	$88	+18	+47.0%	$59.85
2022-10-25	Needham	Ryan Koontz	$63	$70	+7	-1.1%	$70.75
2022-09-06	Northland Securities	Tim Savageaux	Initiated	$65	—	+12.7%	$57.66
2022-07-27	Rosenblatt Securities	—	Initiated	$65	—	+29.0%	$50.38
2022-07-26	Barrington	Christopher Howe	Initiated	$67	—	+35.1%	$49.61
2022-07-26	Needham	Ryan Koontz	$60	$63	+3	+26.3%	$49.87
2022-04-27	Jefferies	George Notter	Initiated	$69	—	+81.1%	$38.09
2022-04-27	Needham	—	Initiated	$60	—	+57.5%	$38.09

Financial Rating

Composite financial health rating (A+ to F) based on discounted cash flow valuation, return on equity, return on assets, debt-to-equity leverage, and relative P/E and P/B multiples.

Oct 02, 2026

DCF

ROE

ROA

D/E

P/E

P/B

The Financial Rating evaluates six fundamental factors — discounted cash flow (DCF) valuation, return on equity (ROE), return on assets (ROA), debt-to-equity leverage (D/E), and relative price-to-earnings (P/E) and price-to-book (P/B) multiples — each scored 1–5. CALX receives an overall rating of B. Strongest factors: ROA (4/5). Areas of concern: P/E (1/5).

Rating Change History

Date	From	To
2026-10-01	B+	B
2026-09-28	A-	B+
2026-09-18	B+	A-
2026-09-16	A-	B+
2026-09-04	B+	A-
2026-08-18	B	B+
2026-08-14	B+	B
2026-07-30	B	B+
2026-07-01	B+	B
2026-06-04	B	B+

InsiderStreet Scorecard

Proprietary multi-factor scorecard rating companies across seven fundamental dimensions — profitability, balance sheet strength, earnings quality, growth, value, momentum, and safety — each scored 0–100.

★ ★ ★ ★ ★ 71 Grade A

Profitability

Balance Sheet

Earnings Quality

Growth

Value

Momentum

100

Safety

100

Cash Flow

The InsiderStreet Scorecard rates companies across eight dimensions: Profitability (margins, ROA, ROE), Balance Sheet (leverage, liquidity, coverage), Earnings Quality (accruals, cash conversion), Growth (revenue and earnings trajectory), Value (P/E, P/B, earnings yield, Graham criteria), Momentum (revenue and earnings acceleration), Safety (Altman Z-Score risk adjustment), and Cash Flow (operating cash flow quality, FCF conversion, cash coverage). The overall score blends 35% quality, 35% value, and 30% momentum, with a penalty for distress-zone Altman scores. CALX scores highest in Safety (100/100) and lowest in Profitability (36/100). An overall grade of A places CALX among the highest-quality companies in its peer group.

Risk & Quality Signals

Academic financial models used by institutional investors to assess bankruptcy risk, earnings manipulation, financial strength, and credit quality.

Altman Z-Score

7.11

Safe Zone

Piotroski F-Score

5/9

✓ ✓ ✓ ✓ ✗ ✗ ✗ ✗ ✓

Beneish M-Score

-1.82

Unlikely Manipulator

Ohlson O-Score

-10.21

Bankruptcy prob: 0.0%

Low Risk

Credit Rating

AA+

Score: 92.7/100

Trend: Improving

Earnings Quality

75/100

OCF/NI: 2.14x

Accruals: -6.2%

The Altman Z-Score (1968) combines five ratios — working capital, retained earnings, EBIT, market value of equity, and sales, all relative to total assets or liabilities — into a single bankruptcy predictor. CALX scores 7.11, placing it in the Safe Zone (safe > 2.99, distress < 1.81). Bankruptcy is statistically unlikely within the next two years. The Piotroski F-Score (2000) is a 9-point binary checklist — four profitability tests (positive ROA, positive cash flow, improving ROA, cash flow exceeding net income), three leverage tests (declining debt ratio, improving current ratio, no share dilution), and two efficiency tests (improving gross margin, improving asset turnover). Each pass scores 1 point. CALX scores 5/9, indicating moderate financial health — some areas of strength offset by weaknesses in others. The Beneish M-Score (1999) is an 8-variable model that detects earnings manipulation by comparing year-over-year changes in receivables, gross margins, asset quality, sales growth, depreciation, SG&A, leverage, and accruals. Scores above −1.78 statistically resemble past manipulators. CALX's score of -1.82 falls below this threshold, suggesting earnings are unlikely to be manipulated. The Ohlson O-Score (1980) is a 9-variable logistic regression that estimates bankruptcy probability using firm size, leverage, working capital, current ratio, profitability (ROA), cash flow coverage, negative equity flag, consecutive losses flag, and earnings trajectory. The raw score is converted to a probability via logistic transformation. CALX's implied 0.0% bankruptcy probability is well within safe territory. Our Credit Rating model scores companies on five weighted components — solvency (30%), earning power (25%), leverage (20%), liquidity (15%), and cash flow quality (10%) — then blends the absolute score with sector and industry peer rankings. For companies with large buyback programs, equity is adjusted by adding back cumulative 5-year repurchases (capped at 80% of FCF generated) to avoid penalizing shareholder-friendly capital allocation. CALX receives an estimated rating of AA+ (score: 92.7/100), with a improving trend. The Earnings Quality score measures how well reported earnings are backed by real cash. It evaluates the operating cash flow to net income ratio (OCF/NI ≥ 1.0 means every dollar of earnings is cash-backed) and the accruals ratio (the gap between earnings and cash flow relative to assets — lower is better). CALX's score of 75/100 is high — cash flows strongly support reported earnings.

Valuation

Key valuation multiples comparing the stock's market price to its earnings, revenue, book value, and cash flows. Lower multiples may indicate relative undervaluation versus peers.

P/E

44.06x

PEG

0.02x

P/S

1.97x

P/B

3.11x

P/FCF

27.28x

P/OCF

21.28x

EV/EBITDA

24.24x

EV/Revenue

1.93x

EV/EBIT

30.36x

EV/FCF

25.17x

Earnings Yield

2.20%

FCF Yield

3.67%

Shareholder Yield

11.17%

Graham Number

$13.80

Equity-based multiples (P/E, P/B, P/FCF) compare the stock price to per-share fundamentals and are affected by capital structure. Enterprise value multiples (EV/EBITDA, EV/Revenue, EV/FCF) strip out debt and cash, making them more useful for cross-company comparisons regardless of how companies are financed. The Graham Number — √(22.5 × EPS × Book Value) — is Benjamin Graham's formula for the maximum price a defensive investor should pay. At 44.1x earnings, CALX is priced for high growth expectations. Graham's intrinsic value formula yields $13.80 per share, 152% below the current price.

DuPont Decomposition (5-Factor)

The 5-factor DuPont framework breaks Return on Equity into its component drivers — tax efficiency, interest burden, operating profitability, asset utilization, and financial leverage — to reveal what truly drives shareholder returns.

Tax Burden

0.706

NI / EBT

Interest Burden

1.025

EBT / EBIT

EBIT Margin

0.064

EBIT / Rev

Asset Turnover

1.185

Rev / Assets

Equity Multiplier

1.265

Assets / Equity

ROE

6.9%

The 5-factor DuPont identity decomposes ROE as: Tax Burden × Interest Burden × EBIT Margin × Asset Turnover × Equity Multiplier = ROE. This reveals whether returns are driven by operating performance, financial leverage, or tax efficiency — three very different sources of profitability. CALX's ROE of 6.9% is driven by Asset Turnover (1.185), indicating efficient use of assets to generate revenue.

Graham-Dodd Adjusted Valuation

Our adaptation of Graham's growth formula (Fair P/E = 8.5 + 2g) from The Intelligent Investor. The classic version relies on analyst growth projections, which can be unreliable. This adjusted model substitutes the company's realized 3-year EPS CAGR — a backward-looking, verifiable measure of actual earnings power — grounding the valuation in demonstrated performance rather than forecasts.

Two adjustments we make, and why. Growth is capped at 15%. Graham defined g as expected growth over the next seven to ten years, not last year's rate. Across US companies since 1994 the median realized 7-year EPS growth is 5–8% regardless of how fast a company grew beforehand, and of 4,457 company-quarters that grew faster than 200%, none sustained it. Uncapped, the formula assigned fair multiples in the hundreds to companies that had never held that rate — and scored worse than simply reading the P/E. Capped, it carries real information. The verdict has three states, not two. Tested over 377,249 stock-months, this ratio only separates outcomes at its extremes: below 0.25 beat the universe by 1.3 points a year, above 3.0 lagged by 2.7, and everything in between sat inside a one-point band. Rather than call two-thirds of the market "undervalued" on a threshold of 1.0, we say Neutral where the model cannot tell — which is most of the time.

Adj. Growth Rate

7.08%

Fair P/E

22.65x

Intrinsic Value

$17.70

Price/Value

2.01x

Margin of Safety

-100.96%

Premium

100.96%

Assessment

Neutral

Graham's classic formula uses analyst-projected growth to estimate a fair P/E (8.5 + 2g). Our adjusted version replaces that projection with CALX's realized 7.1% 3-year EPS CAGR, capped at 15% — demonstrated performance rather than forecasts, held to a rate companies have historically sustained. CALX trades at a 101% premium to its adjusted intrinsic value of $17.70, suggesting the market is pricing in future growth beyond what historical earnings support. The adjusted fair P/E of 22.7x compares to the current market P/E of 44.1x.

Profitability Trends

Historical profitability ratios tracking how efficiently the company converts revenue into returns for shareholders over time.

Leverage & Solvency Trends

Debt and liquidity metrics showing the company's financial leverage and ability to meet short-term and long-term obligations.

Efficiency & Working Capital Trends

Operating efficiency metrics measuring how quickly the company converts inventory to sales, collects receivables, and manages its cash conversion cycle.

Growth Trends (YoY %)

Year-over-year growth rates for key financial metrics, showing the trajectory of revenue, earnings, and cash flow generation.

Earnings Stability

R-squared of linear regression measuring how predictably revenue, earnings, and margins follow a trend over the trailing 5 years. 1.0 = perfectly predictable; lower values indicate erratic or cyclical behavior.

Monte Carlo Price Simulation

Geometric Brownian Motion with 1,000 antithetic paths over 1 year, seeded from 1800 days of historical volatility. Percentile bands show the range of statistically plausible outcomes — this is a statistical model, not a forecast.

Current Price

$34.80

Median 1Y

$38.64

5th Pctile

$15.83

95th Pctile

$94.30

Ann. Volatility

53.3%

Analyst Target

$52.00

25th–75th percentile 5th–95th percentile Median path Historical Analyst target

Executive Compensation

C-suite compensation breakdown including salary, stock awards, options, and incentive pay. The CEO-to-employee pay ratio and Gini coefficient measure pay distribution fairness.

C-Suite Compensation

Executive	Salary	Stock	Total
Michael Weening President and Chief Executive Officer	$560,000	$—	$10,820,080
J. Matthew Collins Chief Commercial Operations Officer	$84,317	$—	$9,527,039
John Durocher Operating rating Officer	$481,217	$—	$9,338,490
Shane Eleniak Product roduct Officer	$481,217	$—	$9,238,285
Cory Sindelar Financial ancial Officer	$485,975	$—	$8,215,668

CEO Pay Ratio

58:1

CEO-to-Employee Pay Ratio

CEO Total Comp: $10,820,080

Avg Employee Cost (SGA/emp): $185,825

Employees: 1,921

C-Suite Pay Equality (Gini)

CEO Compensation Mix

Workforce & Productivity

Workforce efficiency metrics measuring revenue, profit, and R&D spend per employee — key indicators of operational leverage and human capital productivity.

Employees

1,921

+5.5% YoY

Revenue / Employee

$520,567

Rev: $1,000,010,000

Profit / Employee

$9,310

NI: $17,884,000

SGA / Employee

$185,825

Avg labor cost proxy

R&D / Employee

$99,092

Innovation spend

Scaling Efficiency

All Ratios & Metrics

Complete fundamental data with up to 20 periods of history, sparkline trends, and current values across 13 categories and 130+ financial metrics.

Profitability

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
ROE	62.0%	56.2%	49.8%	44.2%	8.3%	6.6%	6.5%	6.5%	6.8%	4.2%	2.7%	0.3%	-2.4%	-4.0%	-4.6%	-3.5%	-0.9%	2.2%	4.5%	6.9%	6.91%
ROA	44.9%	40.8%	36.3%	32.7%	6.3%	5.0%	5.0%	5.1%	5.3%	3.2%	2.2%	0.3%	-2.0%	-3.2%	-3.8%	-2.9%	-0.8%	1.8%	3.6%	5.5%	5.46%
ROIC	67.0%	63.0%	58.5%	53.9%	11.6%	8.7%	8.5%	8.2%	8.2%	4.2%	2.2%	-5.2%	-5.7%	-6.9%	-7.6%	-5.8%	2.0%	2.2%	5.1%	8.2%	8.16%
ROCE	13.3%	11.9%	9.8%	7.8%	7.8%	7.3%	7.0%	7.0%	6.4%	3.4%	1.8%	-1.2%	-4.5%	-5.3%	-5.9%	-4.4%	-0.5%	3.1%	6.4%	9.5%	9.52%
Gross Margin	52.0%	51.7%	49.6%	49.6%	50.2%	51.1%	51.2%	52.3%	53.3%	42.8%	54.2%	54.3%	54.8%	55.0%	55.7%	56.3%	57.3%	57.7%	56.9%	54.6%	54.59%
Operating Margin	10.4%	8.3%	5.3%	4.8%	8.5%	5.3%	4.0%	4.5%	6.0%	-4.6%	-0.9%	-5.7%	-5.4%	-9.1%	-2.8%	0.2%	6.6%	3.4%	4.5%	7.4%	7.45%
Net Margin	1.0%	11.3%	4.4%	3.7%	5.7%	4.9%	3.8%	3.6%	6.4%	-2.5%	0.0%	-4.0%	-2.0%	-8.7%	-2.2%	-0.1%	5.9%	2.6%	4.0%	5.8%	5.83%
EBITDA Margin	12.5%	9.9%	7.5%	6.6%	9.8%	6.8%	5.5%	6.1%	7.7%	-2.9%	1.3%	-3.1%	-3.0%	-6.8%	-0.8%	2.0%	9.4%	6.5%	7.0%	9.0%	8.95%
FCF Margin	9.7%	6.8%	6.1%	3.5%	2.7%	1.5%	1.3%	2.0%	2.8%	3.7%	4.5%	5.3%	5.7%	6.1%	6.3%	8.2%	9.2%	11.6%	10.3%	7.7%	7.69%
OCF Margin	11.1%	8.4%	7.7%	5.1%	4.2%	3.1%	3.0%	3.9%	4.7%	5.4%	6.2%	7.1%	7.6%	8.2%	8.6%	10.1%	11.2%	13.5%	12.5%	9.9%	9.85%
ROE 3Y Avg	snapshot only																				1.35%
ROE 5Y Avg	snapshot only																				8.91%
ROA 3Y Avg	snapshot only																				0.91%
ROIC 3Y Avg	snapshot only																				1.74%
ROIC Economic	snapshot only																				6.16%
Cash ROA	snapshot only																				11.47%
Cash ROIC	snapshot only																				20.67%
CROIC	snapshot only																				16.13%
NOPAT Margin	snapshot only																				3.89%
Pretax Margin	snapshot only																				6.53%
R&D / Revenue	snapshot only																				18.72%
SGA / Revenue	snapshot only																				32.35%
SBC / Revenue	snapshot only																				7.19%

Valuation

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
P/E Ratio	14.08	23.06	12.66	11.19	86.38	116.56	87.92	78.41	66.65	97.32	113.91	931.16	-137.95	-77.22	-66.80	-123.15	-547.82	208.44	97.34	45.52	44.063
P/S Ratio	5.08	8.09	4.07	3.24	5.29	5.51	4.00	3.51	3.13	2.75	2.22	2.44	2.86	2.76	2.80	3.81	4.25	3.73	3.11	2.10	1.972
P/B Ratio	6.38	9.67	4.83	3.86	6.53	7.03	5.20	4.69	4.25	3.97	3.04	3.09	3.26	2.94	3.02	4.28	4.83	4.34	4.47	3.28	3.114
P/FCF	52.42	118.67	66.78	93.83	199.08	364.46	299.43	173.08	110.97	74.33	49.23	46.26	49.75	45.63	44.27	46.28	46.49	32.27	30.22	27.28	27.279
P/OCF	45.77	96.80	52.72	63.05	125.51	175.86	133.75	90.55	67.24	50.74	35.95	34.37	37.39	33.58	32.62	37.63	38.10	27.62	24.91	21.28	21.278
EV/EBITDA	35.45	60.26	34.54	32.75	59.02	68.11	52.28	46.51	44.46	62.66	64.68	226.77	-132.18	-85.51	-72.46	-175.81	261.27	73.55	45.70	24.24	24.237
EV/Revenue	4.82	7.82	3.79	2.95	5.01	5.25	3.74	3.25	2.90	2.54	2.00	2.18	2.54	2.42	2.47	3.47	3.90	3.37	2.90	1.93	1.935
EV/EBIT	42.26	72.62	42.79	42.27	75.04	86.64	66.26	58.86	58.19	103.39	149.12	-217.37	-62.21	-46.66	-43.29	-85.38	-887.60	120.01	62.19	30.36	30.359
EV/FCF	49.82	114.70	62.16	85.54	188.66	347.53	279.86	160.59	102.70	68.89	44.25	41.27	44.30	39.89	39.00	42.19	42.65	29.13	28.13	25.17	25.168
Earnings Yield	7.1%	4.3%	7.9%	8.9%	1.2%	0.9%	1.1%	1.3%	1.5%	1.0%	0.9%	0.1%	-0.7%	-1.3%	-1.5%	-0.8%	-0.2%	0.5%	1.0%	2.2%	2.20%
FCF Yield	1.9%	0.8%	1.5%	1.1%	0.5%	0.3%	0.3%	0.6%	0.9%	1.3%	2.0%	2.2%	2.0%	2.2%	2.3%	2.2%	2.2%	3.1%	3.3%	3.7%	3.67%
PEG Ratio	snapshot only																				0.020
Price/Tangible Book	snapshot only																				3.924
EV/OCF	snapshot only																				19.631
EV/Gross Profit	snapshot only																				3.419
Acquirers Multiple	snapshot only																				35.101
Shareholder Yield	snapshot only																				11.17%
Graham Number	snapshot only																				$13.80

Leverage & Solvency

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Current Ratio	3.20	3.19	3.11	3.51	2.96	3.31	3.58	3.69	4.22	3.19	3.96	4.28	4.50	4.46	4.58	4.55	5.02	4.24	3.29	2.83	2.830
Quick Ratio	2.56	2.50	2.37	2.76	2.18	2.41	2.61	2.74	3.14	2.48	3.14	3.43	3.73	3.68	3.75	3.65	4.14	3.42	2.42	1.97	1.972
Debt/Equity	0.04	0.04	0.03	0.02	0.02	0.03	0.02	0.02	0.02	0.02	0.02	0.01	0.01	0.01	0.01	0.01	0.01	0.03	0.02	0.02	0.020
Net Debt/Equity	-0.32	-0.32	-0.33	-0.34	-0.34	-0.33	-0.34	-0.34	-0.32	-0.29	-0.31	-0.33	-0.36	-0.37	-0.36	-0.38	-0.40	-0.42	-0.31	-0.25	-0.254
Debt/Assets	0.03	0.03	0.02	0.02	0.02	0.02	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.02	0.02	0.01	0.015
Debt/EBITDA	0.21	0.23	0.20	0.22	0.20	0.29	0.19	0.19	0.19	0.27	0.36	1.11	-0.54	-0.34	-0.25	-0.35	0.81	0.56	0.22	0.16	0.158
Net Debt/EBITDA	-1.85	-2.08	-2.56	-3.17	-3.26	-3.32	-3.65	-3.61	-3.58	-4.95	-7.27	-27.43	16.26	12.31	9.79	17.07	-23.54	-7.93	-3.40	-2.03	-2.033
Interest Coverage	117.84	182.03	224.65	325.31	741.85	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Equity Multiplier	1.30	1.31	1.31	1.28	1.34	1.30	1.27	1.27	1.23	1.31	1.24	1.22	1.20	1.20	1.20	1.19	1.19	1.23	1.29	1.34	1.344
Cash Ratio	snapshot only																				0.924
Cash to Debt	snapshot only																				13.899
FCF to Debt	snapshot only																				6.110
Defensive Interval	snapshot only																				212.7 days

Efficiency & Turnover

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Asset Turnover	1.25	1.16	1.13	1.13	1.02	1.07	1.10	1.14	1.14	1.14	1.11	1.02	0.95	0.88	0.90	0.95	0.98	1.00	1.13	1.18	1.185
Inventory Turnover	5.46	4.57	3.84	4.14	3.68	3.63	3.53	3.84	3.36	3.70	3.64	3.52	3.48	3.21	3.37	3.45	3.92	3.65	3.56	3.32	3.316
Receivables Turnover	8.36	8.79	8.65	8.85	8.31	9.70	10.36	10.83	11.25	9.46	10.55	10.65	10.73	8.10	9.39	11.98	10.81	11.19	11.02	11.14	11.141
Payables Turnover	13.30	15.31	10.19	12.53	8.16	12.27	12.65	16.60	11.08	13.69	18.49	19.94	18.80	13.75	17.49	21.83	18.41	13.98	9.82	8.28	8.284
DSO	44	42	42	41	44	38	35	34	32	39	35	34	34	45	39	30	34	33	33	33	32.8 days
DIO	67	80	95	88	99	100	103	95	109	99	100	104	105	114	108	106	93	100	102	110	110.1 days
DPO	27	24	36	29	45	30	29	22	33	27	20	18	19	27	21	17	20	26	37	44	44.1 days
Cash Conversion Cycle	83	97	101	100	98	108	110	107	108	111	115	120	119	132	126	119	107	106	98	99	98.8 days
Fixed Asset Turnover	snapshot only																				21.999
Operating Cycle	snapshot only																				142.8 days
Cash Velocity	snapshot only																				5.719
Capital Intensity	snapshot only																				0.859

Growth (YoY)

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Revenue	37.0%	25.5%	16.7%	13.0%	18.8%	27.7%	32.8%	34.8%	27.5%	19.8%	8.9%	-3.9%	-12.7%	-20.0%	-18.7%	-8.8%	4.9%	20.3%	28.4%	27.8%	27.84%
Net Income	23.6%	6.1%	2.7%	1.5%	-79.8%	-82.8%	-81.2%	-79.2%	-2.3%	-28.5%	-53.3%	-94.4%	-1.4%	-2.0%	-2.7%	-11.8%	60.6%	1.6%	2.0%	2.9%	2.90%
EPS	21.9%	5.8%	2.6%	1.5%	-80.2%	-83.1%	-81.5%	-79.6%	-2.8%	-23.5%	-52.2%	-94.0%	-1.4%	-2.0%	-2.8%	-11.9%	59.7%	1.6%	2.0%	2.9%	2.88%
FCF	3.4%	6.3%	-17.1%	-65.5%	-67.4%	-71.7%	-70.9%	-20.9%	35.3%	1.9%	2.7%	1.5%	77.7%	31.1%	13.9%	42.2%	67.3%	1.3%	1.1%	19.4%	19.44%
EBITDA	2.5%	1.1%	9.9%	-29.7%	-25.9%	-24.1%	-13.4%	4.5%	-2.2%	-36.9%	-53.0%	-86.8%	-1.3%	-1.6%	-1.9%	-2.9%	1.8%	2.9%	3.4%	6.2%	6.17%
Op. Income	5.2%	1.0%	-1.6%	-40.6%	-35.6%	-28.8%	-16.3%	5.1%	-6.4%	-51.4%	-74.2%	-1.2%	-1.7%	-2.7%	-4.5%	-2.7%	80.7%	1.5%	1.8%	2.7%	2.73%
OCF Growth	snapshot only																				24.50%
Asset Growth	snapshot only																				3.58%
Equity Growth	snapshot only																				-8.11%
Debt Growth	snapshot only																				1.34%
Shares Change	snapshot only																				1.52%

Growth (CAGR)

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Revenue 3Y	13.2%	15.5%	17.6%	20.6%	24.0%	26.9%	28.8%	29.6%	27.5%	24.3%	19.1%	13.5%	9.8%	7.0%	5.5%	5.7%	5.3%	4.8%	4.3%	3.9%	3.86%
Revenue 5Y	9.3%	8.2%	8.0%	8.2%	9.7%	11.2%	13.6%	15.7%	17.1%	18.7%	18.7%	17.8%	16.2%	14.4%	13.6%	13.8%	13.7%	13.1%	12.0%	11.3%	11.28%
EPS 3Y	—	—	—	—	—	—	—	—	64.1%	-4.1%	-31.6%	-68.9%	—	—	—	—	—	-24.4%	-5.4%	7.1%	7.08%
EPS 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	-13.0%	-10.7%	-9.2%	-9.22%
Net Income 3Y	—	—	—	—	—	—	—	—	69.2%	-4.3%	-31.3%	-69.2%	—	—	—	—	—	-24.2%	-7.3%	4.9%	4.90%
Net Income 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	-11.8%	-11.1%	-9.8%	-9.80%
EBITDA 3Y	—	—	—	—	—	—	2.5%	1.6%	36.7%	-0.2%	-23.5%	-54.0%	—	—	—	—	-41.0%	-11.9%	0.2%	8.5%	8.54%
EBITDA 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	-11.7%	1.5%	-0.9%	-1.2%	-1.22%
Gross Profit 3Y	21.8%	21.8%	23.2%	25.7%	29.5%	32.3%	34.2%	34.9%	31.6%	24.7%	18.6%	12.4%	8.6%	8.4%	7.8%	9.0%	9.3%	9.3%	8.6%	7.4%	7.37%
Gross Profit 5Y	12.6%	12.1%	13.8%	15.2%	18.1%	20.3%	21.2%	22.0%	22.0%	21.3%	21.5%	20.9%	19.7%	19.3%	18.4%	18.4%	17.6%	16.3%	14.5%	13.0%	13.03%
Op. Income 3Y	—	—	—	—	—	—	—	—	55.2%	-11.4%	-40.3%	—	—	—	—	—	—	-26.4%	-8.9%	3.8%	3.77%
Op. Income 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	-10.6%	-9.1%	-7.0%	-6.96%
FCF 3Y	—	—	—	—	—	—	—	78.3%	24.3%	-4.1%	-3.9%	-11.9%	-7.8%	2.8%	6.9%	41.2%	59.0%	1.1%	1.1%	62.0%	62.01%
FCF 5Y	—	26.0%	—	—	—	—	—	—	—	—	—	—	—	—	—	82.4%	41.7%	21.5%	16.1%	3.0%	3.03%
OCF 3Y	—	1.5%	81.9%	1.3%	1.4%	80.1%	64.5%	48.0%	30.1%	3.0%	1.5%	-5.7%	-3.1%	6.4%	9.3%	32.5%	45.7%	70.6%	68.0%	41.8%	41.81%
OCF 5Y	1.3%	18.4%	—	—	—	—	—	—	—	73.7%	47.5%	86.7%	95.6%	71.2%	62.4%	49.3%	37.1%	21.3%	17.1%	6.3%	6.26%
Assets 3Y	32.2%	32.8%	34.6%	36.6%	39.9%	40.8%	41.3%	43.1%	34.0%	30.1%	25.4%	21.8%	10.5%	8.2%	5.8%	5.1%	4.0%	6.2%	1.3%	0.4%	0.45%
Assets 5Y	16.5%	15.9%	17.3%	19.2%	22.1%	24.6%	27.6%	27.2%	25.2%	24.3%	23.7%	24.1%	24.3%	24.3%	23.1%	23.5%	20.4%	19.9%	15.2%	13.4%	13.45%
Equity 3Y	54.9%	55.2%	59.5%	61.2%	64.3%	64.0%	68.2%	67.0%	44.8%	36.9%	33.1%	29.7%	13.3%	11.2%	9.0%	7.8%	8.3%	8.1%	0.9%	-1.4%	-1.45%
Book Value 3Y	43.4%	42.7%	47.5%	49.8%	52.6%	52.6%	56.8%	56.5%	40.4%	37.2%	32.4%	31.0%	14.3%	12.8%	10.3%	9.8%	10.8%	7.8%	3.0%	0.6%	0.59%
Dividend 3Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—

Growth Quality

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Revenue Stability	0.53	0.53	0.54	0.54	0.59	0.64	0.73	0.79	0.87	0.93	0.96	0.93	0.86	0.73	0.68	0.70	0.70	0.63	0.60	0.65	0.648
Earnings Stability	0.57	0.63	0.75	0.82	0.49	0.49	0.49	0.49	0.19	0.12	0.10	0.06	0.00	0.02	0.05	0.08	0.23	0.26	0.32	0.35	0.354
Margin Stability	0.91	0.92	0.89	0.87	0.85	0.84	0.86	0.89	0.91	0.94	0.95	0.94	0.93	0.92	0.93	0.93	0.94	0.94	0.94	0.95	0.951
Rev. Growth Consistency	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	0.00	0.00	0.00	0.00	0.00	0.50	0.50	0.50	0.50	0.500
Earn. Growth Consistency	1.00	1.00	1.00	1.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.50	0.50	0.50	0.50	0.500
FCF Positive Streak	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1	1
Earnings Persistence	0.50	0.50	0.50	0.50	0.50	0.50	0.50	0.50	0.99	0.89	0.50	0.50	0.20	0.20	0.20	0.20	0.50	0.20	0.20	0.20	0.200
Earnings Smoothness	0.00	0.00	0.00	0.15	0.00	0.00	0.00	0.00	0.98	0.67	0.27	0.00	—	—	—	—	—	—	—	—	—
ROE Trend	0.51	0.42	0.33	0.27	-0.17	-0.21	-0.23	-0.24	-0.20	-0.20	-0.19	-0.20	-0.09	-0.09	-0.09	-0.07	-0.03	0.02	0.06	0.09	0.088
Gross Margin Trend	0.07	0.06	0.04	0.02	0.00	-0.01	-0.01	-0.00	0.01	-0.01	-0.01	-0.00	-0.00	0.05	0.04	0.05	0.05	0.05	0.04	0.03	0.034
FCF Margin Trend	0.10	0.04	0.02	-0.03	-0.04	-0.06	-0.06	-0.05	-0.03	-0.00	0.01	0.03	0.03	0.03	0.03	0.05	0.05	0.07	0.05	0.01	0.009
Sustainable Growth Rate	62.0%	56.2%	49.8%	44.2%	8.3%	6.6%	6.5%	6.5%	6.8%	4.2%	2.7%	0.3%	—	—	—	—	—	2.2%	4.5%	6.9%	6.91%
Internal Growth Rate	81.4%	68.8%	57.1%	48.7%	6.7%	5.3%	5.3%	5.4%	5.6%	3.3%	2.2%	0.3%	—	—	—	—	—	1.8%	3.8%	5.8%	5.77%

Cash Flow Quality

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
OCF/Net Income	0.31	0.24	0.24	0.18	0.69	0.66	0.66	0.87	0.99	1.92	3.17	27.10	-3.69	-2.30	-2.05	-3.27	-14.38	7.55	3.91	2.14	2.139
FCF/OCF	0.87	0.82	0.79	0.67	0.63	0.48	0.45	0.52	0.61	0.68	0.73	0.74	0.75	0.74	0.74	0.81	0.82	0.86	0.82	0.78	0.780
FCF/Net Income	snapshot only																				1.669
OCF/EBITDA	snapshot only																				1.235
CapEx/Revenue	1.4%	1.5%	1.6%	1.7%	1.6%	1.6%	1.7%	1.8%	1.8%	1.7%	1.7%	1.8%	1.9%	2.2%	2.3%	1.9%	2.0%	1.9%	2.2%	2.2%	2.17%
CapEx/Depreciation	snapshot only																				1.347
Accruals Ratio	0.31	0.31	0.28	0.27	0.02	0.02	0.02	0.01	0.00	-0.03	-0.05	-0.07	-0.09	-0.10	-0.11	-0.12	-0.12	-0.12	-0.11	-0.06	-0.062
Sloan Accruals	snapshot only																				-0.077
Cash Flow Adequacy	snapshot only																				4.546
Earnings Quality Score	snapshot only																				0.750

Dividends & Buybacks

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Dividend Yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.00%
Dividend/Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Payout Ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	—	—	—	—	—	0.0%	0.0%	0.0%	0.00%
FCF Payout Ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.00%
Total Payout Ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	2.8%	22.6%	88.6%	2.9%	4.5%	32.1%	—	—	—	—	—	5.2%	6.6%	5.1%	5.09%
Div. Increase Streak	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Chowder Number	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Buyback Yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.3%	1.3%	3.0%	3.9%	3.4%	1.9%	0.5%	2.0%	2.4%	2.1%	2.5%	6.8%	11.2%	11.17%
Net Buyback Yield	-2.4%	-0.5%	-0.8%	-1.1%	-0.7%	-0.6%	-0.9%	-0.4%	0.8%	2.4%	3.7%	3.0%	1.1%	-0.2%	1.4%	1.7%	1.8%	1.5%	5.1%	8.9%	8.92%
Total Shareholder Return	-2.4%	-0.5%	-0.8%	-1.1%	-0.7%	-0.6%	-0.9%	-0.4%	0.8%	2.4%	3.7%	3.0%	1.1%	-0.2%	1.4%	1.7%	1.8%	1.5%	5.1%	8.9%	8.92%

DuPont Factors

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Tax Burden (NI/EBT)	2.92	3.28	3.66	4.20	0.91	0.76	0.76	0.74	0.83	0.84	0.83	2.76	0.74	0.94	0.99	1.17	-1.41	0.52	0.65	0.71	0.706
Interest Burden (EBT/EBIT)	1.08	0.99	0.99	0.99	1.01	1.03	1.06	1.10	1.14	1.36	1.75	-0.09	0.69	0.74	0.75	0.65	-1.25	1.22	1.06	1.02	1.025
EBIT Margin	0.11	0.11	0.09	0.07	0.07	0.06	0.06	0.06	0.05	0.02	0.01	-0.01	-0.04	-0.05	-0.06	-0.04	-0.00	0.03	0.05	0.06	0.064
Asset Turnover	1.25	1.16	1.13	1.13	1.02	1.07	1.10	1.14	1.14	1.14	1.11	1.02	0.95	0.88	0.90	0.95	0.98	1.00	1.13	1.18	1.185
Equity Multiplier	1.38	1.38	1.37	1.35	1.32	1.30	1.29	1.28	1.28	1.31	1.26	1.24	1.22	1.25	1.22	1.20	1.20	1.22	1.24	1.27	1.265

Per Share

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
EPS (Diluted TTM)	$3.57	$3.47	$3.30	$3.12	$0.71	$0.59	$0.61	$0.64	$0.69	$0.45	$0.29	$0.04	$-0.28	$-0.45	$-0.52	$-0.42	$-0.11	$0.25	$0.52	$0.78	$0.78
Book Value/Share	$7.89	$8.27	$8.65	$9.05	$9.36	$9.73	$10.30	$10.65	$10.79	$11.01	$10.90	$11.48	$11.78	$11.85	$11.62	$11.97	$12.75	$12.20	$11.25	$10.84	$11.18
Tangible Book/Share	$6.07	$6.48	$6.86	$7.27	$7.68	$8.06	$8.63	$8.98	$9.12	$9.23	$9.20	$9.71	$10.03	$10.09	$9.86	$10.17	$10.95	$10.55	$9.48	$9.07	$9.07
Revenue/Share	$9.91	$9.88	$10.27	$10.79	$11.56	$12.42	$13.38	$14.24	$14.65	$15.91	$14.91	$14.51	$13.47	$12.62	$12.50	$13.47	$14.47	$14.20	$16.16	$16.96	$17.49
FCF/Share	$0.96	$0.67	$0.63	$0.37	$0.31	$0.19	$0.18	$0.29	$0.41	$0.59	$0.67	$0.77	$0.77	$0.76	$0.79	$1.11	$1.32	$1.64	$1.66	$1.30	$1.34
OCF/Share	$1.10	$0.83	$0.79	$0.55	$0.49	$0.39	$0.40	$0.55	$0.68	$0.86	$0.92	$1.03	$1.03	$1.04	$1.07	$1.36	$1.62	$1.92	$2.02	$1.67	$1.72
Cash/Share	$2.78	$2.97	$3.12	$3.30	$3.39	$3.46	$3.69	$3.79	$3.59	$3.37	$3.52	$3.98	$4.35	$4.51	$4.28	$4.63	$5.26	$5.51	$3.71	$2.97	$3.06
EBITDA/Share	$1.35	$1.28	$1.13	$0.97	$0.98	$0.96	$0.96	$1.00	$0.95	$0.65	$0.46	$0.14	$-0.26	$-0.36	$-0.43	$-0.27	$0.22	$0.65	$1.02	$1.35	$1.35
Debt/Share	$0.28	$0.30	$0.23	$0.21	$0.19	$0.28	$0.19	$0.19	$0.18	$0.18	$0.16	$0.15	$0.14	$0.12	$0.11	$0.09	$0.18	$0.36	$0.22	$0.21	$0.21
Net Debt/Share	$-2.50	$-2.67	$-2.89	$-3.09	$-3.20	$-3.18	$-3.50	$-3.60	$-3.42	$-3.20	$-3.35	$-3.82	$-4.21	$-4.39	$-4.17	$-4.54	$-5.09	$-5.15	$-3.48	$-2.75	$-2.75

Academic Models

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Altman Z-Score	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	7.109
Altman Z-Prime	snapshot only																				11.980
Piotroski F-Score	6	5	5	5	4	5	6	6	6	6	8	7	6	5	6	6	7	6	7	5	5
Beneish M-Score	-0.88	-0.89	-0.96	-1.03	-2.25	-2.26	-2.34	-2.35	-2.68	-2.23	-2.65	-2.97	-2.81	-3.50	-3.26	-3.21	-2.93	-2.77	-2.52	-1.82	-1.820
Ohlson O-Score	snapshot only																				-10.209
ROIC (Greenblatt)	snapshot only																				16.27%
Net-Net WC	snapshot only																				$5.35
EVA	snapshot only																				$-9760429.03

Credit

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Credit Rating	snapshot only																				AA+
Credit Score	95.39	95.39	95.86	95.37	95.94	93.28	92.38	92.33	92.33	92.45	92.44	78.21	78.91	79.33	78.96	79.56	79.29	92.40	92.52	92.65	92.652
Credit Grade	snapshot only																				2
Credit Trend	snapshot only																				13.097
Implied Spread (bps)	snapshot only																				65.000
Industry Credit Rank	snapshot only																				87
Sector Credit Rank	snapshot only																				83

CALX NYSE

Edge Score

Analyst Insights

Financial Rating

InsiderStreet Scorecard

Risk & Quality Signals

Valuation

DuPont Decomposition (5-Factor)

Graham-Dodd Adjusted Valuation

Profitability Trends

Leverage & Solvency Trends

Efficiency & Working Capital Trends

Growth Trends (YoY %)

Earnings Stability

Monte Carlo Price Simulation

Executive Compensation

C-Suite Compensation

CEO Pay Ratio

C-Suite Pay Equality (Gini)

CEO Compensation Mix

Workforce & Productivity

Scaling Efficiency

Sign in to InsiderStreet