Radware Ltd. (RDWR)

Nasdaq: RDWR · Services-Business Services, NEC · Tel Aviv, IL · filing with the SEC since 2000

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Grade5.6

◀ Past 5.9● Present 4.8▶ Future 6.1

1 est.

Overview Business Financials Grade Forecast Sentiment Ownership People Filings Patents Chart

The grade of Radware Ltd.

Nine metrics read from its own filings, by tense

Headline grade

5.6/10

◀ Past5.925% of the headline

● Present4.835% of the headline

▶ Future6.140% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

Of the nine metrics, 8 read as filed from the record and 1 is an SI estimate, each with its reasoning, its confidence and what would change it on its card.

◀ Past

What did they actually do?

5.9/1025% of the headline grade · 3 of 3 filed

Surviving crises

as filed

8.0/10

Has it survived what it has been through?

No warning events in its filings since 2017.

weight 22% of this tense · 80th percentile among 105 sector filers · read for itself

From the record

Radware Ltd.'s filings since 2017 show no warning events in the scan: no bankruptcy or receivership notice, no debt default notice, no exchange listing notice, no restatement warning, no auditor change, no material cyber incident and no late-report notice (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed

4.4/10

What has it actually done, year after year?

+4.9% a year over 10 filed years; profitable in 6 of 10.

weight 45% of this tense · 44th percentile among 99 sector filers · read for its customers

From the record

Radware Ltd.'s 10 filed years say what it did: revenue went from $197 million in fiscal 2016 to $302 million in fiscal 2025, up 4.9% a year; it rose in 7 of 9 years; the deepest fall was 11% from fiscal 2022 to fiscal 2023; net income was positive in 6 of 10 of those years (its annual reports).

What it rests on

revenue growth over the filed span4.9%bottom 27% of its family
the share of years revenue rosebottom 46% of its family
the share of filed years with a profittop 42% of its family
the deepest fall from a revenue peak11.0%bottom 44% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

as filed

6.7/10

How has it treated the people who own it?

Share count shrank 0.2% a year. 63% of cash flow returned. Insiders: 15 sales, 1 purchases.

weight 33% of this tense · 67th percentile among 70 sector filers · read for its shareholders

From the record

Over the 3 fiscal years to 2025-12-31, Radware Ltd.'s diluted share count shrank about 0.2% a year, and dividends and buybacks returned about 63% of its operating cash flow over 3 years (its filed statements). Its officers and directors filed 15 sales and 1 purchase of their own stock on the open market in the year to 2026-11-03, buying about $50 thousand (their Form 4 filings).

What it rests on

the share count over the yearstop 39% of its family
cash returned against operating cash flowtop 28% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

● Present

What are they doing right now?

4.8/1035% of the headline grade · 2 of 3 filed, 1 estimated

Financial health

as filed

5.5/10

Is it financially healthy right now?

ROE 6%: 6¢ of profit per shareholder dollar. Leverage 48%: owes 48¢ per asset dollar.

weight 33% of this tense · 55th percentile among 98 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2025-12-31, Radware Ltd. earned about 6 cents of profit for every dollar of shareholders' money, and gross profitability: its products earned about 36 cents per dollar of everything the company owns. Leverage: it owed about 48 cents per dollar of assets, and net share issuance: its share count grew 3.1% over the year (the filed statements).

What it rests on

what it owes per dollar of assetstop 32% of its family
return on equitytop 50% of its family
gross profit against assetstop 29% of its family
the share count against the year beforebottom 32% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed

3.9/10

How strong is its position in its industry?

bottom 39% of 101 in its family; net margin 6.7%.

weight 45% of this tense · 39th percentile among 101 sector filers · read for its customers

From the record

Radware Ltd.'s standing among 101 graded names in its industry family: revenue of $302 million in fiscal 2025 ranks in the bottom 27% by size; a net margin of 6.7% ranks in the top 36%; revenue growth of 0.9% a year over the last 3 filed years ranks in the bottom 28% (its annual reports).

What it rests on

revenue against the family$302Mbottom 27% of its family
net margin6.7%top 36% of its family
three-year revenue growth0.9%bottom 28% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

SI estimate

5.3/10

What are the people in charge doing?

SI estimate 5.3/10, confidence 20 of 100 (family median).

weight 22% of this tense · 50th percentile among 73 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate: It files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; the record of its people begins on 2026-03-18 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 8 months and cannot see past it; a floor under five years is not read as years in charge, so the desk assumes the typical reading of its industry family, the median of 73 members with one.
What the record cannot read: It files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; the record of its people begins on 2026-03-18 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 8 months and cannot see past it; a floor under five years is not read as years in charge.
How it was reasoned: family median, 73 readings behind it.
Confidence: 20 of 100
What would change it: Its next annual report on file with the inputs replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Radware Ltd.'s leadership is put at 5.3 of 10 with a confidence of 20 of 100, because it files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; the record of its people begins on 2026-03-18 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 8 months and cannot see past it; a floor under five years is not read as years in charge, so the desk assumes the typical reading of its industry family, the median of 73 members with one. Its next annual report on file with the inputs replaces this estimate with the filed reading.

▶ Future

What are they set up to do next?

6.1/1040% of the headline grade · 3 of 3 filed

Room to expand

as filed

7.9/10

How much room does it have to grow?

top 21% of 99 in its family for room to expand.

weight 33% of this tense · 79th percentile among 99 sector filers · read for itself

From the record

Radware Ltd.'s room to grow, from the newest filed statements (fiscal 2025): cash of $105 million against no long-term debt tagged leaves 15.7% of its assets as net cash, top 29% of its family; cash from operations less capital spending is 13.8% of revenue (top 41%); a gross margin of 80.7% (top 6%); research spending of 26.2% of revenue (top 10%) (its annual report).

What it rests on

cash less debt against assets15.7%top 29% of its family
cash from operations less capital spending against revenue13.8%top 41% of its family
gross margin80.7%top 6% of its family
research spending against revenue26.2%top 10% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Growth drivers

as filed

4.0/10

What could actually drive growth from here?

bottom 40% of 99 in its family for growth drivers.

weight 45% of this tense · 40th percentile among 99 sector filers · read for its customers

From the record

Radware Ltd.'s growth drivers, from the filed years to fiscal 2025: revenue grew 0.9% a year over the last three filed years against 4.9% over all 10, slowing (bottom 44% of its family); the newest year grew 9.8% (top 45%); research spending grew -3% a year (bottom 30%); capital spending grew -1.1% a year (bottom 33%) (its annual reports). Radware Ltd. reported 2 lines of business in fiscal 2025: Radware Core at $301 million (100%), Hawks at $628 thousand (0%); 2 of 2 grew against the year before (its annual report).

What it rests on

three-year growth against the whole span-3.9 points a yearbottom 44% of its family
the newest year's revenue growth9.8%top 45% of its family
three-year growth of research spending-3.0%bottom 30% of its family
three-year growth of capital spending-1.1%bottom 33% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

as filed

7.9/10

Did its newest year beat what its own record pointed to?

top 21% of 93 in its family for expectations against reality.

weight 22% of this tense · 79th percentile among 93 sector filers · read for its shareholders

From the record

Radware Ltd.'s newest year against its own record: revenue of $302 million in fiscal 2025 came in 13.5% above the $266 million its prior three years' pace pointed to (top 17% of its family); net income of $20 million against a prior three-year average of $5 million (top 7%); a net margin of 6.7% against -2% before (top 40%) (its annual reports).

What it rests on

revenue against the prior three years' pace13.5%top 17% of its family
net income against the prior three years' average+487%top 7% of its family
net margin against its prior average+8.8 pointstop 40% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton RDWR · research, not advice