Monday 19 October 2026
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Bandwidth Inc.
BAND Technology Software Infrastructure
Bandwidth Inc.’s revenue for fiscal 2025 (year ended December 2025) was $753.8 million, up 0.71% from fiscal 2024. In the quarter to June 2026, revenue grew 22.2%, EPS grew 143.8%, free cash flow fell 7.38% and total debt rose 33.9%, each against the same quarter a year earlier. Revenue growth for ten consecutive years, operating cash flow growth for three.
43.34
6.26
−12.62%
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| Dec '16 | Dec '17 | Dec '18 | Dec '19 | Dec '20 | Dec '21 | Dec '22 | Dec '23 | Dec '24 | Dec '25 | |
|---|---|---|---|---|---|---|---|---|---|---|
Piotroski F-Score |
— | 6 | 7 | 2 | 2 | 4 | 6 | 4 | 5 | 6 |
P/E ratio |
44.92 | 46.66 | 41.16 | 492.69 | 0.00 | 0.00 | 28.86 | 0.00 | 0.00 | 0.00 |
Altman Z-Score |
— | 8.43 | 12.81 | 13.32 | 5.22 | 2.37 | 1.20 | 0.78 | 1.06 | 1.06 |
P/S ratio |
0.40 | 1.80 | 3.71 | 6.23 | 10.79 | 3.67 | 0.98 | 0.61 | 0.62 | 0.61 |
Altman Z″-Score (non-manufacturers) |
(0.50) | 5.59 | 5.44 | 7.06 | 1.44 | 2.38 | 1.26 | 0.75 | 0.43 | 0.70 |
P/FCF ratio |
20.29 | 43.93 | 74.30 | 0.00 | 0.00 | 495.20 | 0.00 | 19.08 | 7.57 | 8.20 |
Beneish M-Score |
(0.72) | (2.57) | (2.52) | (2.24) | (1.51) | (2.78) | (2.30) | (2.51) | (2.69) | (2.88) |
P/Operating CF |
13.65 | 59.16 | 1,197.55 | 651.14 | (543.43) | 105.20 | 53.17 | 18.92 | 12.68 | 12.00 |
P/B ratio |
0.00 | 3.81 | 6.96 | 5.37 | 8.61 | 4.36 | 2.06 | 1.23 | 1.48 | 1.16 |
Price to Tangible BV |
0.00 | 4.70 | 7.98 | 5.65 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
EV/Sales |
0.61 | 1.80 | 3.59 | 5.55 | 11.28 | 3.99 | 1.51 | 1.06 | 0.92 | 0.83 |
EV/EBITDA |
4.57 | 14.17 | 58.79 | 0.00 | 162.86 | 29.32 | 40.57 | 35.05 | 19.88 | 14.15 |
EV/Operating CF |
9.96 | 20.06 | 29.78 | (1,029.40) | 856.38 | 48.05 | 24.79 | 16.27 | 8.17 | 6.98 |
EV/FCF |
30.78 | 44.04 | 72.01 | (47.75) | (384.07) | 539.24 | (29.66) | 33.22 | 11.20 | 11.05 |
Quick Ratio |
0.78 | 2.40 | 2.53 | 4.70 | 1.92 | 4.21 | 2.27 | 1.89 | 1.21 | 1.32 |
Current Ratio |
0.92 | 2.66 | 2.80 | 4.96 | 2.10 | 4.42 | 2.45 | 2.06 | 1.34 | 1.42 |
Net Debt/EBITDA |
1.72 | (1.82) | (4.72) | 37.42 | 6.77 | 2.30 | 13.86 | 14.64 | 5.73 | 3.09 |
Debt/Assets |
64.08% | 0.00% | 0.00% | 5.86% | 31.69% | 45.65% | 51.71% | 38.01% | 28.44% | 23.52% |
Debt/Equity |
(2.00) | 0.00 | 0.00 | 0.07 | 0.66 | 1.18 | 1.77 | 1.41 | 0.90 | 0.62 |
Asset Turnover |
2.29 | 1.87 | 1.60 | 0.95 | 0.56 | 0.50 | 0.57 | 0.59 | 0.72 | 0.74 |
Operating CF/Net income |
0.27 | 2.75 | 1.37 | (0.50) | (0.10) | (1.49) | 1.78 | (2.39) | (12.86) | (6.93) |
Capex/Depreciation |
(0.88) | (1.31) | (2.52) | (1.94) | (0.39) | (0.54) | (1.40) | (0.37) | (0.40) | (0.56) |
Interest Coverage |
16.79 | 8.46 | (22.43) | 7.23 | (0.99) | (0.08) | (7.98) | (43.88) | (10.78) | (7.09) |
| (93.65%) | 19.61% | 19.33% | 1.32% | (12.56%) | (6.50%) | 5.72% | (5.74%) | (2.14%) | (3.62%) | |
| 29.16% | 6.11% | 14.06% | 1.01% | (7.14%) | (2.80%) | 1.96% | (1.61%) | (0.62%) | (1.26%) | |
ROIC |
60.77% | 23.37% | 8.46% | (10.52%) | (1.43%) | (0.25%) | (2.68%) | (3.94%) | (2.46%) | (1.67%) |
Return on Tangible Assets |
221.73% | 9.57% | 21.32% | 1.12% | (28.73%) | (7.03%) | 7.38% | (5.31%) | (2.91%) | (5.40%) |
Average Days of Receivables |
40.40 | 47.54 | 42.93 | 47.37 | 58.77 | 45.78 | 47.42 | 47.46 | 42.16 | 44.26 |
Research and Development Expense of Revenue |
5.60% | 6.62% | 10.24% | 13.53% | 15.90% | 14.16% | 17.10% | 17.33% | 15.85% | 17.58% |
Selling, General and Administrative Expense of Revenue |
28.36% | 29.63% | 33.47% | 40.36% | 32.89% | 29.85% | 28.73% | 27.85% | 24.23% | 23.47% |
Intangible Assets out of Total Assets |
0.22 | 0.14 | 0.09 | 0.04 | 0.70 | 0.52 | 0.54 | 0.46 | 0.47 | 0.47 |
Share Based Compensation of Revenue |
0.90% | 1.11% | 1.64% | 2.85% | 2.88% | 2.96% | 3.60% | 6.15% | 6.46% | 6.94% |
Graham Net Nets |
(0.89) | 0.13 | 0.07 | 0.11 | (0.07) | (0.13) | (0.67) | (1.51) | (1.06) | (0.94) |
Graham Number |
0.00 | 8.26 | 11.42 | 5.91 | 0.00 | 0.00 | 13.66 | 0.00 | 0.00 | 0.00 |
Earnings Yield |
2.23% | 2.14% | 2.43% | 0.20% | (1.18%) | (1.53%) | 3.47% | (4.43%) | (1.44%) | (2.78%) |
Free Cash Flow Yield |
4.93% | 2.28% | 1.35% | (1.86%) | (0.27%) | 0.20% | (5.19%) | 5.24% | 13.22% | 12.20% |
Revenue per Share |
13.03 | 12.94 | 10.99 | 10.27 | 14.24 | 19.57 | 22.67 | 23.47 | 27.51 | 25.13 |
Operating CF per Share |
0.44 | 1.16 | 1.33 | (0.06) | 0.19 | 1.63 | 1.38 | 1.52 | 3.08 | 2.98 |
Capex per Share |
(0.52) | (0.63) | (0.78) | (1.14) | (0.61) | (1.48) | (2.53) | (0.78) | (0.80) | (1.10) |
Free Cash Flow per Share |
(0.08) | 0.53 | 0.55 | (1.19) | (0.42) | 0.14 | (1.15) | 0.75 | 2.29 | 1.89 |
Cash per Share |
0.58 | 2.99 | 3.17 | 8.17 | 5.04 | 13.24 | 7.31 | 5.99 | 3.08 | 3.71 |
Shareholders Equity per Share |
(1.92) | 6.09 | 5.86 | 11.93 | 17.84 | 16.44 | 10.77 | 11.61 | 11.49 | 13.33 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
(1.92) | 6.09 | 5.86 | 11.93 | 17.84 | 16.44 | 10.77 | 11.61 | 11.49 | 13.33 |
Free Cash Flow |
(0.91) | 6.66 | 10.19 | (27.01) | (10.07) | 3.64 | (29.18) | 19.10 | 62.21 | 56.55 |
Working Capital |
(2.43) | 40.73 | 58.93 | 181.21 | 101.41 | 319.39 | 165.60 | 130.00 | 47.49 | 64.99 |
Capital Expenditures |
(6.06) | (7.96) | (14.45) | (25.76) | (14.59) | (37.17) | (64.09) | (19.90) | (21.67) | (32.94) |
Net Current Asset Value |
(64.30) | 37.47 | 50.00 | 155.62 | (267.09) | (240.06) | (377.53) | (550.88) | (488.82) | (433.59) |
EV/EBIT |
5.76 | 20.07 | 108.64 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Capex to Sales |
0.04 | 0.05 | 0.07 | 0.11 | 0.04 | 0.08 | 0.11 | 0.03 | 0.03 | 0.04 |
Price to Operating Income |
3.80 | 20.02 | 112.09 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.62 | 0.41 | 0.23 | 0.32 | 0.72 | 0.99 | 0.46 | 0.30 | 0.31 | 0.34 |
Cash ROIC |
(3.10%) | 5.82% | 6.07% | (5.69%) | (1.21%) | 0.30% | (3.11%) | 2.20% | 9.18% | 7.45% |
Accounts Receivable Turnover |
10.27 | 8.56 | 9.02 | 8.58 | 8.03 | 8.40 | 8.43 | 7.88 | 9.09 | 8.48 |
Accounts Payable Turnover |
18.66 | 23.15 | 33.57 | 32.85 | 23.87 | 26.63 | 18.66 | 11.97 | 14.98 | 12.93 |
Inventory Turnover |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Average Days of Payables |
20.08 | 12.37 | 11.54 | 12.24 | 22.50 | 12.04 | 29.16 | 34.21 | 22.10 | 33.89 |
Days of Inventory on Hand |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Average Receivables |
14.82 | 19.03 | 22.62 | 27.10 | 42.72 | 58.41 | 68.02 | 76.31 | 82.31 | 88.93 |
Average Payables |
4.57 | 3.86 | 3.22 | 3.80 | 7.93 | 10.40 | 17.95 | 30.48 | 31.29 | 35.48 |
Average Assets |
66.56 | 87.23 | 127.46 | 245.92 | 616.01 | 978.07 | 997.43 | 1,015.18 | 1,045.11 | 1,020.90 |
Average Common Equity |
(20.72) | 27.17 | 92.74 | 189.43 | 350.01 | 421.26 | 342.39 | 284.78 | 304.96 | 356.25 |
Columns are period end dates