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AudioCodes Ltd.

AUDC Technology Communication Equipment

AudioCodes Ltd.’s revenue for fiscal 2025 (year ended December 2025) was $245.6 million, up 1.42% from fiscal 2024. In the quarter to June 2026, revenue grew 3.08%, EPS grew 100.0% and free cash flow fell 15.1%, each against the same quarter a year earlier. Dividend growth for five consecutive years.

11.20 0.09 −0.80%
Market cap
$270.5M
P/E
43.1×
Fwd P/E
26.7×
Dividend yield
3.57%
F-score
7/9
Altman Z
2.36
Beneish M
−2.64
Dividend safety
57/100
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total sells 0.63
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell — — — — — 2 4 — — 5 — —
Insider Ownership 46.28%

Capital & Financial Ratios $m

Market Cap 270.52
Revenue 249.25
Net Income 7.06
Free Cash Flow 21.59
Net Debt (61.67)
Current Ratio 1.90 (at or above 1.5: strong)
Debt/Equity 0.00 (at or below 0.5: strong)
P/E ratio 43.08 (above 35: high)
Fwd P/E 26.70
P/S ratio 1.13
P/B ratio 1.65
Past 5Y EPS Growth (17.88%) (below 0%: weak)
This Y EPS Growth 0.00%
Next Y EPS Growth 4.92%
Next Y revenue growth 3.05%
Next 5Y EPS Growth (7.72%) (below 0%: weak)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 0.9×, against a ten-year median of 1.4×; over the ten years it ranged from 0.5× in 2026 to 4.9× in 2020.
P/E against its own 10 years 73.09%
10-year low 10-year high
P/S against its own 10 years 17.03%
10-year low 10-year high
P/B against its own 10 years 28.82%
10-year low 10-year high
EV/Sales against its own 10 years 15.48%
10-year low 10-year high
EV/FCF against its own 10 years 21.86%
10-year low 10-year high

Dividends

Payout Ratio 1.54
Annual Dividend Rate 0.40
Annual Dividend Yield 3.57%
total individual payouts
2026 0.40
0.20
0.20
2025 0.00
0.18
0.20
2024 0.36
0.18
0.18
2023 0.54
0.18
0.18
0.18
2022 0.72
0.18
0.18
0.18
0.18
2021 0.66
0.16
0.16
0.17
0.17
2020 0.27
0.13
0.14
2019 0.34
0.11
0.11
0.12
2018 0.20
0.20
2017 Powerpack
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 38 62 73 62
Receivables 61 69 86 81
Inventory 44 31 22 24
Other — — — —
143 163 181 167
2023 2024 2025 Q'26
Payables 8 8 6 9
ST’ Debt — — — —
Other — — — —
84 78 82 88

Compound Annual Growth %

10y 5y 3y
Sales 5.80% 2.15% (3.71%)
Cash Flow 5.27% (5.26%) 52.49%
Earnings 37.68% (19.95%) (31.99%)
Book Value 3.85% (3.98%) (3.35%)

Revenue $m

Mar Jun Sep Dec Year
’26 62 63 — — —
’25 60 61 62 63 246
’24 60 60 60 62 242
’23 59 60 62 64 244
’22 66 68 70 71 275
’21 59 61 63 66 249
’20 52 54 57 59 221
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 13 6 — — —
’25 13 8 4 4 29
’24 15 (3) 8 15 35
’23 3 2 0 9 15
’22 1 5 2 0 8
’21 13 17 13 4 47
’20 7 11 11 10 38
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 12 5 — — —
’25 12 6 2 2 23
’24 8 (11) 2 12 11
’23 2 0 (2) 9 9
’22 1 5 2 0 7
’21 13 17 12 4 46
’20 6 10 10 10 37
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 0.07 0.02 — — —
’25 0.13 0.01 0.10 0.07 0.31
’24 0.07 0.12 0.09 0.22 0.50
’23 (0.01) 0.03 0.14 0.12 0.28
’22 0.26 0.21 0.17 0.23 0.88
’21 0.29 0.24 0.24 0.22 1.00
’20 0.17 0.21 0.20 0.24 0.83
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 3.66 5.83 6.62 9.93 9.00 25.90 16.79 7.14 7.70 8.01

Analyst estimates 2026–2028

Powerpack
High 6.50 8.43 12.96 26.00 44.94 37.35 35.66 20.60 14.45 12.72
People
People Employees 700 698 706 728 773 885 966 950 946 981
Revenue/emp, $m 0.21 0.22 0.25 0.28 0.29 0.28 0.28 0.26 0.26 0.25
Income, $m
Income, $m Revenue 146 157 176 200 221 249 275 244 242 246
Gross margin, % 60.69 62.43 62.76 47.41 67.86 68.65 64.99 64.80 65.31 65.00
EBT 8 10 17 (11) 37 40 34 14 15 14
EBT margin, % 5.22 6.15 9.41 (5.65) 16.60 15.93 12.43 5.88 6.23 5.53
Net income 16 4 13 4 27 34 28 9 15 9
Depreciation 4 3 3 2 2 4 4 4 5 5
Per share, $
Per share, $ Revenue 4.14 5.04 6.09 6.85 7.02 7.61 8.64 7.78 8.02 8.62
Earnings 0.46 0.13 0.47 0.14 0.87 1.03 0.89 0.28 0.51 0.31
Cash flow 0.52 0.57 0.88 0.79 1.22 1.45 0.26 0.47 1.17 1.03
Capex (0.04) (0.05) (0.05) (0.07) (0.05) (0.04) (0.05) (0.19) (0.80) (0.23)
Free cash flow 0.48 0.52 0.84 0.73 1.18 1.41 0.21 0.28 0.36 0.80
Book value 3.09 2.97 3.27 3.16 6.67 6.28 5.96 5.99 6.35 6.01
Shares, m 35 31 29 29 31 33 32 31 30 28
Valuation, ×
Valuation, × P/E 13.34 62.50 21.48 214.08 32.03 34.06 19.46 41.58 19.10 27.28
P/S 1.59 1.49 1.62 3.75 3.92 4.56 2.03 1.52 1.21 1.01
P/B 2.13 2.53 3.02 8.13 4.13 5.53 2.94 1.97 1.53 1.45
EV/Sales 1.44 1.33 1.30 3.41 3.34 4.22 1.86 1.36 0.96 0.72
EV/FCF 12.41 12.85 9.43 32.23 19.93 22.77 75.24 37.37 21.18 7.71
Cash, $m
Cash, $m Operating cash flow 18 18 26 23 38 47 8 15 35 29
Capex (1) (2) (1) (2) (2) (1) (1) (6) (24) (6)
Free cash flow 17 16 24 21 37 46 7 9 11 23
Balance, $m
Balance, $m Working capital 35 32 59 46 109 72 55 58 85 100
Total debt 12 9 6 4 1 20 14 — — —
Net debt (23) (25) (57) (68) (130) (85) (47) (38) (62) (73)
Shareholders’ equity 109 92 95 92 210 205 190 188 192 171
Returns, %
Returns, % ROA 8.62 2.25 7.70 1.88 9.05 9.54 8.46 2.66 4.55 2.72
ROIC 5.63 8.99 27.46 (23.93) 30.05 20.57 13.72 6.01 8.30 8.91
ROE 14.36 4.01 14.44 4.25 18.03 16.25 14.40 4.65 8.06 4.93
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

AudioCodes Ltd. vs peers in Communication Equipment (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
ADTN ADTRAN Holdings, Inc. $532.1M — (loss-making) — (loss-making) +6.07% (above 0%: growing) n/m −52.65% (below 0%: shrinking) 36.97% (3.58%) Compare
CLFD Clearfield, Inc. $407.4M — (loss-making) 76.5× +13.18% (above 0%: growing) +100.00% (above 0%: growing) −6.00% (below 0%: shrinking) 31.79% 5.86% Compare
LTRX Lantronix, Inc. $274.2M — (loss-making) 179× +8.03% (above 0%: growing) n/m +89.00% (above 0%: growing) 43.67% (1.26%) Compare
AUDC AudioCodes Ltd. $270.5M 43.1× 26.7× +3.08% (above 0%: growing) +100.00% (above 0%: growing) −15.07% (below 0%: shrinking) 65.70% 5.08%
BKTI BK TECHNOLOGIES, INC. $251.4M 17.9× 26.1× +10.63% (above 0%: growing) −18.45% (below 0%: shrinking) −85.95% (below 0%: shrinking) 51.86% 16.35% Compare
SILC Silicom Ltd $250.5M — (loss-making) — (loss-making) +58.51% (above 0%: growing) n/m −29.51% (below 0%: shrinking) 30.11% (8.37%) Compare
AVNW Aviat Networks, Inc. $250.0M 99.7× 9.6× +4.81% (above 0%: growing) n/m −56.30% (below 0%: shrinking) 30.81% 4.82% Compare
CRNT Ceragon Networks Ltd. $183.6M — (loss-making) 29.6× +14.16% (above 0%: growing) n/m −65.76% (below 0%: shrinking) 31.65% 0.25% Compare
OCC Optical Cable Corporation $125.6M 44.5× — (loss-making) +21.99% (above 0%: growing) +425.00% (above 0%: growing) +156.41% (above 0%: growing) 37.43% 8.69% Compare
Median of peers $250.9M 44.5× 29.6× +11.91% +100.00% −41.08% 34.38% 2.54%

All 47 Communication Equipment stocks →

AudioCodes Ltd. (AUDC) key facts

  • Strength: AudioCodes Ltd.’s revenue for fiscal 2025 (year ended December 2025) was $245.6 million, up 1.42% from fiscal 2024.
  • AudioCodes Ltd. (AUDC) is a Communication Equipment company in the Technology sector, listed on Nasdaq.
  • As of October 16, 2026, AUDC traded at $11.20, a market capitalization of $270.5 million.
  • AudioCodes Ltd. pays an annual dividend of $0.40 per share, a yield of 3.57%, with a payout ratio of 153.9%.
  • Return on equity was 4.93% and debt-to-equity 0.00.
  • Its Piotroski F-score is 7 out of 9 and its Altman Z-score is 2.36 (grey zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

AudioCodes Ltd. (AUDC) Latest News

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stockrow.com/AUDC · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com