Saturday 10 October 2026
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Comtech Telecommunications Corp.
CMTL Technology Communication Equipment
Comtech Telecommunications Corp.’s revenue for fiscal 2025 (year ended July 2025) was $499.5 million, down 7.56% from fiscal 2024. In the quarter to April 2026, revenue fell 16.4%, EPS grew 4.08%, free cash flow grew 520.6% and total debt was flat, each against the same quarter a year earlier. Dividend growth for five consecutive years.
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to July
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Trend | 2026e | 2027e | 2028e |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Price, $ | |||||||||||||||
| Price, $ | Low | 9.52 | 10.51 | 20.62 | 20.95 | 11.48 | 20.09 | 8.42 | 7.26 | 1.53 | 1.19 |
Analyst estimates 2026–2028 Powerpack |
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| High | 25.09 | 23.90 | 36.94 | 38.00 | 37.34 | 30.40 | 24.33 | 16.87 | 8.67 | 5.65 | |||||
| People | |||||||||||||||
| People | Employees | 2,031 | 1,813 | 1,852 | 2,013 | 2,034 | 2,038 | 1,993 | 1,718 | 1,676 | 1,385 | ||||
| Revenue/emp, $m | 0.20 | 0.30 | 0.31 | 0.33 | 0.30 | 0.29 | 0.24 | 0.32 | 0.32 | 0.36 | |||||
| Income, $m | |||||||||||||||
| Income, $m | Revenue | 411 | 550 | 571 | 672 | 617 | 582 | 486 | 550 | 540 | 500 | ||||
| Gross margin, % | 41.66 | 39.64 | 39.25 | 36.83 | 36.78 | 36.78 | 36.99 | 33.54 | 29.09 | 25.60 | |||||
| EBT | (8) | 25 | 25 | 29 | 9 | (75) | (37) | (31) | (100) | (155) | |||||
| EBT margin, % | (1.99) | 4.63 | 4.32 | 4.30 | 1.51 | (12.89) | (7.62) | (5.61) | (18.56) | (31.11) | |||||
| Net income | (8) | 16 | 30 | 25 | 7 | (73) | (33) | (27) | (100) | (155) | |||||
| Depreciation | 28 | 48 | 45 | 43 | 42 | 41 | 41 | 46 | 44 | 50 | |||||
| Per share, $ | |||||||||||||||
| Per share, $ | Revenue | 24.22 | 23.49 | 23.95 | 27.85 | 24.87 | 22.65 | 18.34 | 19.64 | 18.76 | 16.99 | ||||
| Earnings | (0.46) | 0.68 | 1.25 | 1.04 | 0.28 | (2.86) | (1.63) | (1.21) | (4.70) | (6.95) | |||||
| Cash flow | 0.89 | 2.86 | 2.11 | 2.82 | 2.13 | (1.58) | 0.08 | (0.16) | (1.89) | (0.28) | |||||
| Capex | (0.33) | (0.35) | (0.36) | (0.36) | (0.29) | (0.62) | (0.74) | (0.65) | (0.45) | (0.29) | |||||
| Free cash flow | 0.55 | 2.51 | 1.75 | 2.46 | 1.84 | (2.21) | (0.66) | (0.81) | (2.35) | (0.57) | |||||
| Book value | 27.72 | 20.49 | 21.22 | 22.18 | 22.15 | 19.49 | 21.57 | 19.66 | 16.89 | 10.00 | |||||
| Shares, m | 17 | 23 | 24 | 24 | 25 | 26 | 27 | 28 | 29 | 29 | |||||
| Valuation, × | |||||||||||||||
| Valuation, × | P/E | 0.00 | 26.87 | 27.10 | 28.89 | 56.62 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||
| P/S | 0.55 | 0.77 | 1.40 | 1.07 | 0.66 | 1.12 | 0.62 | 0.52 | 0.17 | 0.13 | |||||
| P/B | 0.48 | 0.88 | 1.58 | 1.34 | 0.74 | 1.30 | 0.65 | 0.65 | 0.30 | 0.61 | |||||
| EV/Sales | 1.01 | 1.04 | 1.62 | 1.27 | 0.84 | 1.43 | 0.86 | 0.78 | 0.44 | 0.48 | |||||
| EV/FCF | 44.24 | 9.76 | 22.14 | 14.42 | 11.36 | (14.65) | (23.80) | (18.90) | (3.53) | (14.11) | |||||
| Cash, $m | |||||||||||||||
| Cash, $m | Operating cash flow | 15 | 67 | 50 | 68 | 53 | (41) | 2 | (4) | (54) | (8) | ||||
| Capex | (6) | (8) | (9) | (9) | (7) | (16) | (20) | (18) | (13) | (9) | |||||
| Free cash flow | 9 | 59 | 42 | 59 | 46 | (57) | (18) | (23) | (68) | (17) | |||||
| Balance, $m | |||||||||||||||
| Balance, $m | Working capital | 119 | 97 | 114 | 135 | 117 | 84 | 70 | 94 | 153 | 112 | ||||
| Total debt | 255 | 193 | 166 | 166 | 158 | 210 | 139 | 164 | 178 | 214 | |||||
| Net debt | 188 | 152 | 123 | 120 | 110 | 179 | 117 | 145 | 145 | 174 | |||||
| Shareholders’ equity | 470 | 480 | 506 | 535 | 549 | 501 | 572 | 551 | 486 | 294 | |||||
| Returns, % | |||||||||||||||
| Returns, % | ROA | (1.11) | 1.81 | 3.55 | 2.89 | 0.77 | (7.64) | (4.40) | (3.44) | (14.19) | (24.71) | ||||
| ROIC | (0.05) | 3.66 | 3.49 | 3.95 | 1.44 | (6.28) | (3.06) | (1.32) | (7.91) | (18.58) | |||||
| ROE | (1.78) | 3.33 | 6.04 | 4.81 | 1.29 | (14.00) | (8.95) | (7.49) | (36.38) | (99.47) | |||||
Negative figures in brackets.
Fiscal years to Jul 2025 · latest quarter Apr 2026
Charts ten years each
Comtech Telecommunications Corp. 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 |
|---|---|---|---|---|---|---|---|---|---|
| AMPG AmpliTech Group, Inc. | $84.7M | — (loss-making) | 21.6× | −26.81% (below 0%: shrinking) | n/m | −3.69% (below 0%: shrinking) | 27.93% | (39.60%) | Compare |
| INSG Inseego | $76.7M | — (loss-making) | — (loss-making) | +9.35% (above 0%: growing) | n/m | −283.33% (below 0%: shrinking) | 33.75% | (16.45%) | Compare |
| WATT Energous Corporation | $62.6M | — (loss-making) | — (loss-making) | +216.82% (above 0%: growing) | n/m | −90.60% (below 0%: shrinking) | 3.04% | (103.37%) | Compare |
| AIRG Airgain, Inc. | $52.1M | — (loss-making) | — (loss-making) | +0.55% (above 0%: growing) | n/m | −1,715.93% (below 0%: shrinking) | 42.26% | (12.30%) | Compare |
| CMTL Comtech Telecommunications Corp. | $35.4M | — (loss-making) | — (loss-making) | −16.39% (below 0%: shrinking) | n/m | +520.63% (above 0%: growing) | 34.02% | (2.95%) | |
| BOSC B.O.S. Better Online Solutions | $31.3M | 8.7× | 8.5× | +28.85% (above 0%: growing) | +46.15% (above 0%: growing) | +208.74% (above 0%: growing) | 22.95% | 7.20% | Compare |
| FKWL Franklin Wireless Corp. | $26.0M | — (loss-making) | 71.5× | +21.21% (above 0%: growing) | n/m | −138.43% (below 0%: shrinking) | 9.03% | (21.50%) | Compare |
| UTSI UTStarcom Holdings Corp | $21.5M | — (loss-making) | — (loss-making) | −25.06% (below 0%: shrinking) | n/m | −244.19% (below 0%: shrinking) | 27.96% | 0.00% | Compare |
| CMBMF Cambium Networks Corporation | $11.3M | — (loss-making) | — (loss-making) | +32.05% (above 0%: growing) | n/m | +20.45% (above 0%: growing) | 50.84% | (2.63%) | Compare |
| Median of peers | $41.7M | — | 21.6× | +15.28% | — | −114.52% | 27.95% | (14.37%) |
Comtech Telecommunications Corp. (CMTL) key facts
- Concern: Comtech Telecommunications Corp.’s revenue for fiscal 2025 (year ended July 2025) was $499.5 million, down 7.56% from fiscal 2024.
- Comtech Telecommunications Corp. (CMTL) is a Communication Equipment company in the Technology sector, listed on Nasdaq.
- As of October 9, 2026, CMTL traded at $1.18, a market capitalization of $35.4 million.
- Return on equity was −99.5% and debt-to-equity 0.82.
- Its Piotroski F-score is 2 out of 9 and its Altman Z-score is 0.31 (distress zone) for fiscal 2025.