Calix, Inc. (CALX) Stock Price & Analysis
Calix, Inc. (CALX) closed at USD 38.17 on Wednesday, October 28, 2026, down 0.34% on the day. The US market is currently closed; this is not a live price.
The prior close was USD 38.3; the Oct 28, 2026 session ranged USD 37.45–38.59 on volume of 1,024,885 shares. Market capitalization is $2.40B, with a 52-week range of USD 32.35–71.22 (NYQ). Source: Nexqual, retrieved October 29, 2026 at 07:04 UTC.
Also available as compact Markdown for AI agents: nexqual.com/CALX.md
Key facts (CALX)
- Last four reported quarters (through Jun 27, 2026): revenue $1.11B, net income $51.2M (4.6% margin), free cash flow $85.4M (SEC filings).
- Valuation: P/E 46.9x (avg 154.2x at the last 2 fiscal year-ends).
- Insider open-market sales, last ~7 months: 2 Form 4 filings, $3.8M; 0 not under a Rule 10b5-1 plan ($0K); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 1.86 on a 1–5 scale) (7 analysts), mean target USD 62.33 (range 52–85).
- Total return with dividends: 1Y -38.7% vs S&P 500 +13.6%; 5Y -39.0% vs S&P 500 +79.8%.
- Next earnings: 2026-11-02, EPS estimate USD 0.41, revenue estimate $304M.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (CALX)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $679M | $868M | $1.04B | $832M | $1.00B | $1.11B |
| Gross profit | $357M | $435M | $518M | $454M | $568M | — |
| Operating income | $73.9M | $52.6M | $25.6M | -$43.0M | $21.0M | $61.2M |
| Net income | $238M | $41.0M | $29.3M | -$29.7M | $17.9M | $51.2M |
| EPS (diluted) | $3.51 | $0.60 | $0.42 | -$0.45 | $0.26 | — |
| Free cash flow | $46.3M | $13.1M | $38.4M | $50.3M | $116M | $85.4M |
| Gross margin | 52.5% | 50.2% | 49.9% | 54.6% | 56.8% | — |
| Operating margin | 10.9% | 6.1% | 2.5% | -5.2% | 2.1% | 5.5% |
| Net margin | 35.1% | 4.7% | 2.8% | -3.6% | 1.8% | 4.6% |
| Revenue growth | +25.5% | +27.7% | +19.8% | -20.0% | +20.3% | — |
| Cash + short-term investments | $204M | $242M | $220M | $297M | $388M | — |
Fiscal years end Dec. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Jun 27, 2026) (CALX)
P/E 46.9x · P/S 2.2x · P/FCF 28.1x · P/B 3.4x · FCF yield 3.55% · Earnings yield 2.13% · Buyback yield (TTM) 10.83%
P/E at fiscal year-ends: Dec 2025 205.1x, Dec 2023 103.3x.
Insider sales (SEC Form 4, open-market, last ~7 months) (CALX)
2 of 2 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-07-27 | Russo Carl | Director | 75,000 | $2.7M | 1.3% | Yes | Too little history (no open-market trades in 2023) |
| 2026-04-27 | Russo Carl | Director | 25,000 | $1.1M | 0.4% | Yes | Too little history (no open-market trades in 2023) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.
Analysts (CALX)
Consensus Buy (mean 1.86 on a 1–5 scale), 7 analysts; mean target USD 62.33 (low 52, high 85).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-07-23 | Rosenblatt | Maintained | Buy | $55 |
| 2026-07-22 | JP Morgan | Target lowered | Overweight | $65 → $58 |
| 2026-07-21 | Northland Capital Markets | Upgrade | Market Perform → Outperform | $52 |
| 2026-07-21 | Rosenblatt | Target lowered | Buy | $70 → $55 |
Total return (dividends reinvested) (CALX)
| 1Y (from 2025-10-29) | 5Y (from 2021-10-25) | |
|---|---|---|
| Total return | -38.7% | -39.0% |
| S&P 500 (SPY) | +13.6% | +79.8% |
| Per year | -38.8% | -9.4% |
| Volatility (annualized) | 41.5% | 48.0% |
| Max drawdown | -51.6% (Oct 2025→Sep 2026) | -64.5% (Dec 2021→Apr 2024) |
CALX earnings history and stock reaction
| Results filed | Quarter | EPS | Consensus | Surprise | Stock reaction |
|---|---|---|---|---|---|
| — | Quarter ended Jun 30, 2026 | $0.47 | $0.40 | Beat +17.5% | — |
| — | Quarter ended Mar 31, 2026 | $0.40 | $0.37 | Beat +8.1% | — |
| — | Quarter ended Dec 31, 2025 | $0.39 | $0.38 | Beat +2.6% | — |
| — | Quarter ended Sep 30, 2025 | $0.44 | $0.34 | Beat +29.4% | — |
EPS as reported against the analyst consensus before the release; surprise uses the cent-rounded figures shown (in dollars when EPS and consensus have opposite signs). Stock reaction = close before the results to close after (the first close following a release after the bell or before the open).
CALX recent SEC filings (last 120 days)
| Filed | Form | What it says |
|---|---|---|
| Oct 8, 2026 | 8-K | Other material event “On October 8, 2026, Calix, Inc. (the "Company") issued a press release announcing that its board of directors increased the Company's authorization to repurchase its common stock by an additional $100 million under the existing stock repurchase program. The press release is attached hereto as Exhibit 99.1 and incorporated herein by reference. Such information shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and is not incorporated by reference into any…” |
| Jul 30, 2026 | Schedule 13G/A | BlackRock, Inc.: 16.2% of shares, passive 5%+ holder (amended) |
| Jul 21, 2026 | 10-Q | Quarterly report · period ended Jun 27, 2026 |
| Jul 20, 2026 | 8-K | Quarterly results |
Source: SEC EDGAR. Quotes are the opening words of each item as filed; each form links to the filing. Insider Form 4 filings are listed in the insider sections.
CALX revenue by product line (quarter ended Jun 27, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Appliance | $242.8M | 82.8% | +22.5% |
| Software and service | $50.5M | 17.2% | +15.5% |
| Total revenue | $293.3M | 100% | — |
CALX revenue by region (quarter ended Jun 27, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| United States | $277.7M | 94.7% | +26.8% |
| Americas ex U.S. | $8.2M | 2.8% | +39.7% |
| Europe | $4.9M | 1.7% | -68.3% |
| Rest of world | $2.5M | 0.8% | +76.4% |
| Total revenue | $293.3M | 100% | — |
As tagged by the company in its SEC 10-Q / 10-K filings (XBRL).
CALX suppliers, customers and competitors (named in its 10-K)
| Relationship | Company | Sentence in the filing |
|---|---|---|
| Customer | ALLO Communications | “Our service provider customers include: ALLO Communications, LLC;” |
| Partner | Alphabet (Google) (GOOGL) | “Examples of these partners are Conexon, LLC, ePlus Technology, Inc., BroadEngagement (Refindable LLC business), Google LLC and GOCare™ (NuTEQ Solutions, LLC business).” |
Quoted from the company's 10-K filed Feb 20, 2026.
CALX customer concentration
In the period ended Jun 27, 2026, a single direct customer accounted for 12% of revenue, per the company's 10-Q filed Jul 21, 2026. The company does not name it.
CALX analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Sep 2026) | $0.41 | $0.46 | -10.6% | $304.1M | 7 |
| Next quarter (ends Dec 2026) | $0.45 | $0.51 | -12.1% | $314.2M | 7 |
| Current fiscal year (ends Dec 2026) | $1.72 | $1.78 | -3.1% | $1.19B | 7 |
| Next fiscal year (ends Dec 2027) | $2.30 | $2.50 | -8.0% | $1.38B | 7 |
Key Statistics (as of October 29, 2026 at 07:04 UTC)
| Price | USD 38.17 |
|---|---|
| Change | ▼ 0.34% (down) |
| Previous Close | USD 38.3 |
| Open | USD 38.23 |
| Day Range | USD 37.45 – 38.59 |
| 52-Week Range | USD 32.35 – 71.22 |
| Volume | 1,024,885 shares |
| Market Cap | $2.40B |
| Exchange | NYQ |
Technical Analysis (CALX)
Nexqual's technical model rates CALX "BUY" based on 5 bullish and 1 bearish signals across 127 daily candles, as of October 29, 2026 at 07:04 UTC.
| Overall Signal | BUY |
|---|---|
| RSI (14) | 62.65 (neutral) |
| vs SMA50 | Above (USD 36.31) |
| MACD | 0.54 (positive) |
Analyst Ratings (CALX)
Wall Street analysts rate CALX "Buy" based on 7 analysts, with a mean price target of USD 62.33 (range USD 52–85), per Nexqual as of October 29, 2026 at 07:04 UTC.
| Consensus Rating | Buy |
|---|---|
| Analyst Count | 7 |
| Mean Target | USD 62.33 |
| High Target | USD 85 |
| Low Target | USD 52 |
| Buy / Hold / Sell | 6 / 1 / 0 |
Earnings (CALX)
| Next Earnings Date | 2026-11-02 |
|---|---|
| EPS Estimate | USD 0.41 |
| Revenue Estimate | $304.10M |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-06-30 | USD 0.47 vs est 0.4 ▲ beat |
| 2026-03-31 | USD 0.4 vs est 0.37 ▲ beat |
| 2025-12-31 | USD 0.39 vs est 0.38 ▲ beat |
| 2025-09-30 | USD 0.44 vs est 0.34 ▲ beat |
Source: Nexqual, October 29, 2026 at 07:04 UTC.
Financials & Fundamentals (CALX)
| Total Revenue | $1.11B |
|---|---|
| Revenue Growth (latest quarter, YoY) | +21.30% |
| Gross Margin | +56.58% |
| Operating Margin | +7.45% |
| Profit Margin | +4.61% |
| ROE | +6.91% |
| Debt / Equity | 0.02 |
| Current Ratio | 2.83 |
| Total Cash | $194.30M |
| Total Debt | $13.98M |
| Free Cash Flow (last four quarters to Jun 2026, SEC 10-Q / 10-K) | $85.42M (7.7% of revenue) |
Source: Nexqual, October 29, 2026 at 07:04 UTC.
Financial Health Score (CALX)
Nexqual rates Calix, Inc.'s overall financial health "Solid" across five dimensions, as of October 29, 2026 at 07:04 UTC.
| Growth | Strong — Revenue +20% YoY (annual) |
|---|---|
| Profitability | Strong — Gross margin 57%, operating 6% (last 4 quarters to Jun 2026, SEC) |
| Balance Sheet | Strong — $194M cash vs $14M debt, net cash position |
| Cash Flow | Solid — FCF $85M (last 4 quarters to Jun 2026, SEC), 8% margin |
| Efficiency | Mixed — ROE 7%, ROA 5.4% (last 4 quarters, SEC) |
Ownership (CALX)
| Insider Ownership | +9.70% |
|---|---|
| Institutional Ownership | +99.31% |
| Shares Outstanding | 62.96M |
| Float | 56.97M |
| Short % of Float | +11.40% |
Source: Nexqual, October 29, 2026 at 07:04 UTC.
Leadership (CALX)
Calix, Inc. is led by Michael Weening, CEO, President & Director, per Nexqual as of October 29, 2026 at 07:04 UTC.
| CEO, President & Director | Michael Weening |
|---|
Major Backers & Investors (CALX)
Notable institutional backers of Calix, Inc. include Alliancebernstein L.P., Westfield Capital Management Co LP, Acadian Asset Management. LLC, according to Nexqual as of October 29, 2026 at 07:04 UTC.
Active Investors
| Investor | Stake |
|---|---|
| Alliancebernstein L.P. | 5.16% |
| Westfield Capital Management Co LP | 2.1% |
| Acadian Asset Management. LLC | 1.97% |
| GLOBAL X FUNDS-Global X US Infrastructure Development ETF | 1.95% |
| Citadel | 1.92% |
Index Funds (Passive)
| Fund | Stake |
|---|---|
| BlackRock | 18.7% |
| Vanguard Group | 12.98% |
| State Street | 4.63% |
| Geode Capital | 2.35% |
| Dimensional Fund Advisors | 2.08% |
Source: Nexqual, October 29, 2026 at 07:04 UTC.
From Calix, Inc.'s Latest SEC 10-K Filing (filed 2026-02-20)
Key Strengths & Strategy (as disclosed to the SEC)
- Calix Cloud enables simple integrations with other market-leading workflow solutions for marketing (including Facebook, Mailchimp, Constant Contact and HubSpot), support ticketing solutions, operations support systems and business support systems.
- With deep broadband expertise and an end-to-end approach from the datacenters' access edge to every residential, business and municipal subscriber location, Calix enables any service provider to simplify operations, engagement, and service; innovate for their subscribers; and grow value for members, investors, and the communities they serve.
- Our platform enables us to expand our total addressable opportunity and recurring revenue streams by allowing us to address the needs of not only traditional wireline-focused service providers, but also emerging service providers.
- We believe our platform offers a competitive edge to CXPs at a critical time of increasing competition.
Legal & Regulatory Risks (Item 1A, quoted)
- Our failure or the failure of our manufacturers to comply with environmental and other legal regulations could adversely impact our results of operations.
- We are subject to governmental export and import controls that could subject us to liability or impair our ability to compete in additional international markets.
- Regulatory and physical impacts of climate change and other natural events may affect our customers and our manufacturers, resulting in adverse effects on our operating results.
- Our customers are subject to government regulation, and changes in current or future laws or regulations that negatively impact our customers could harm our business.
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
Peers & Related Stocks
| Symbol | Name | Price | Change |
|---|---|---|---|
| DLO | DLocal Limited | USD 13.77 | ▼ 1.99% |
| BLSH | Bullish | USD 28.73 | ▼ 0.73% |
| CORZ | Core Scientific, Inc. | USD 15 | ▲ 5.15% |
| RELY | Remitly Global, Inc. | USD 24.27 | ▲ 0.25% |
| TENB | Tenable Holdings, Inc. | USD 48.72 | ▲ 0.14% |
| BB | BlackBerry Limited | USD 9.4 | ▼ 1.57% |
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 29, 2026 at 07:04 UTC. This page is informational and not investment advice.
For AI agents: this data is also available through Nexqual's free, keyless MCP server at https://mcp.nexqual.com/mcp; every result includes source_url, as_of and cite_as. More: nexqual.com/agents · llms.txt