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DZS Inc.

DZSIQ Technology Communication Equipment

DZS Inc.’s revenue for fiscal 2023 (year ended December 2023) was $244.5 million, down 31.6% from fiscal 2022. Operating cash flow growth for three consecutive years.

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Market cap: $6.7M
P/E: 0.0×
Fwd P/E: −3.1×
Dividend yield: —
F-score: 1/9
Altman Z: −1.90
Beneish M: −4.41
Dividend safety: n/a

Overview Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	—	—	—	—	—	—	—	—	—	—	—

Insider Ownership 51.45%

Capital & Financial Ratios $m

Market Cap 6.65

Revenue 243.70

Net Income (74.78)

Free Cash Flow (43.50)

Net Debt 10.69

Current Ratio 1.22

Debt/Equity 0.51

P/E ratio 0.00

Fwd P/E (3.05)

P/S ratio 0.00

P/B ratio 0.00

Past 5Y EPS Growth —

This Y EPS Growth 1.32%

Next Y EPS Growth (87.01%)

Next Y revenue growth 73.96%

Next 5Y EPS Growth 20.00%

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

Valuation vs history

EV/Sales, ten years

EV/Sales against its own 10 years 1.38%

10-year low 10-year high

Dividends

Payout Ratio —

Annual Dividend Rate —

Annual Dividend Yield —

	total	individual payouts
2023	Powerpack
2022	Powerpack
2021	Powerpack
2020	Powerpack
2019	Powerpack
2017	Powerpack

special payouts not included in total or ratios

Assets vs Liabilities $m

	2021	2022	2023	Q'24
Cash	53	38	21	6
Receivables	97	151	84	35
Inventory	57	94	82	79
Other	2	1	1	1
	215	291	196	134

	2021	2022	2023	Q'24
Payables	64	119	84	63
ST’ Debt	4	34	20	—
Other	6	19	16	12
	90	202	166	110

Compound Annual Growth %

	10y	5y	3y
Sales	7.18%	(2.83%)	(6.65%)
Cash Flow	0.00%	0.00%	0.00%
Earnings	0.00%	0.00%	0.00%
Book Value	(4.97%)	(21.94%)	(37.76%)

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	28	31	38	—	—
’23	44	31	23	147	245
’22	72	83	99	104	358
’21	81	83	88	98	350
’20	47	71	94	89	301
’19	74	84	72	78	307
’18	60	76	72	75	282

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(30)	(6)	(1)	—	—
’23	(15)	(21)	(5)	(5)	(46)
’22	(11)	(20)	(7)	(12)	(51)
’21	(7)	(1)	(7)	1	(14)
’20	1	(5)	(7)	16	5
’19	(5)	(11)	(6)	(1)	(23)
’18	(14)	(2)	0	3	(12)

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(30)	(7)	(2)	—	—
’23	(14)	(21)	(5)	(5)	(46)
’22	(12)	(21)	(8)	(15)	(55)
’21	(8)	(2)	(9)	0	(19)
’20	0	(6)	(7)	16	3
’19	(5)	(12)	(7)	(2)	(25)
’18	(14)	(2)	(1)	3	(13)

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	(0.50)	0.61	(0.67)	—	—
’23	(0.55)	(0.80)	(1.07)	(1.65)	(4.29)
’22	(0.28)	(0.45)	(0.49)	(0.35)	(1.33)
’21	(0.92)	(0.12)	(0.22)	(0.08)	(1.30)
’20	(0.41)	(0.01)	(0.01)	(0.65)	(1.07)
’19	(0.10)	0.13	(0.19)	(0.48)	(0.69)
’18	0.01	0.08	0.11	(0.03)	0.17

Fiscal quarters ending in the months shown.

Group	Line	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024e
Price, $
Price, $	Low	—	—	4.28	4.25	8.54	6.59	2.90	10.77	10.59	1.24	Analyst estimates 2024–2026 Powerpack
	High	—	—	10.00	9.68	15.59	15.00	16.95	23.48	19.95	13.45
People
People	Employees	—	—	622	629	670	789	830	840	765	660
	Revenue/emp, $m	—	—	0.24	0.39	0.42	0.39	0.36	0.42	0.47	0.37
Income, $m
Income, $m	Revenue	—	—	150	247	282	307	301	350	358	245
	Gross margin, %	—	—	27.75	33.49	32.35	32.62	32.22	34.34	31.74	16.54
	EBT	—	—	(14)	(1)	5	(10)	(20)	(31)	(40)	(134)
	EBT margin, %	—	—	(9.21)	(0.36)	1.62	(3.15)	(6.51)	(8.99)	(11.27)	(54.98)
	Net income	—	—	(15)	1	3	(13)	(23)	(35)	(41)	(135)
	Depreciation	—	—	3	4	3	7	5	5	9	21
Per share, $
Per share, $	Revenue	—	—	12.92	15.08	17.13	15.82	13.93	13.12	12.73	7.75
	Earnings	—	—	(1.20)	0.07	0.17	(0.69)	(1.07)	(1.30)	(1.33)	(4.29)
	Cash flow	—	—	0.30	0.12	(0.74)	(1.17)	0.23	(0.54)	(1.80)	(1.45)
	Capex	—	—	(0.12)	(0.07)	(0.07)	(0.12)	(0.11)	(0.19)	(0.16)	0.01
	Free cash flow	—	—	0.18	0.05	(0.81)	(1.29)	0.13	(0.72)	(1.96)	(1.45)
	Book value	—	—	5.75	4.50	4.72	5.49	4.33	4.94	4.93	0.72
	Shares, m	—	—	12	16	16	19	22	27	28	32
Valuation, ×
Valuation, ×	P/E	—	—	0.00	114.75	76.64	0.00	0.00	0.00	0.00	0.00
	P/S	—	—	0.38	0.61	0.81	0.56	1.11	1.24	1.01	0.23
	P/B	—	—	0.86	2.04	2.94	1.61	3.57	3.28	2.60	2.46
	EV/Sales	—	—	0.38	0.74	0.85	0.57	1.07	1.13	1.03	0.24
	EV/FCF	—	—	25.72	245.13	(17.83)	(6.97)	119.49	(20.35)	(6.66)	(1.29)
Cash, $m
Cash, $m	Operating cash flow	—	—	3	2	(12)	(23)	5	(14)	(51)	(46)
	Capex	—	—	(1)	(1)	(1)	(2)	(2)	(5)	(4)	0
	Free cash flow	—	—	2	1	(13)	(25)	3	(19)	(55)	(46)
Balance, $m
Balance, $m	Working capital	—	—	57	62	75	115	123	124	90	31
	Total debt	—	—	24	62	46	37	44	16	45	58
	Net debt	—	—	(1)	32	11	3	(11)	(37)	7	37
	Shareholders’ equity	—	—	67	74	78	107	94	132	139	23
Returns, %
Returns, %	ROA	—	—	(13.40)	0.70	1.59	(6.17)	(9.26)	(13.60)	(13.08)	(43.44)
	ROIC	—	—	(12.41)	0.42	5.04	(4.01)	0.32	(19.01)	(15.91)	(135.86)
	ROE	—	—	(28.29)	1.52	3.65	(14.60)	(23.07)	(30.76)	(30.52)	(167.83)

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2023 · latest quarter Sep 2024

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
FKWL Franklin Wireless Corp.	$26.3M	— (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	$22.7M	— (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
CLRO ClearOne, Inc.	$8.3M	— (loss-making)	— (loss-making)	−16.84% (below 0%: shrinking)	n/m	+10.80% (above 0%: growing)	0.00%	0.00%	Compare
DZSIQ DZS Inc.	$6.7M	— (loss-making)	— (loss-making)	+67.78% (above 0%: growing)	n/m	+71.37% (above 0%: growing)	29.42%	(57.67%)
VISL Vislink Technologies, Inc.	$6.2M	— (loss-making)	— (loss-making)	+22.63% (above 0%: growing)	n/m	−257.19% (below 0%: shrinking)	57.41%	(3.36%)	Compare
MITQ Moving iMage Technologies, Inc.	$5.4M	— (loss-making)	—	−22.74% (below 0%: shrinking)	n/m	+139.88% (above 0%: growing)	22.22%	(6.73%)	Compare
SYNX Silynxcom Ltd.	$5.1M	—	—	—	—	+55.57% (above 0%: growing)	—	—	Compare
ASNS Actelis Networks, Inc.	$2.4M	— (loss-making)	— (loss-making)	+20.30% (above 0%: growing)	n/m	−69.69% (below 0%: shrinking)	51.15%	(139.75%)	Compare
Median of peers	$7.2M	—	—	+20.30%	—	−29.44%	27.96%	(3.36%)

All 47 Communication Equipment stocks →

DZS Inc. (DZSIQ) key facts

Concern: DZS Inc.’s revenue for fiscal 2023 (year ended December 2023) was $244.5 million, down 31.6% from fiscal 2022.
DZS Inc. (DZSIQ) is a Communication Equipment company in the Technology sector.
Return on equity was −167.8% and debt-to-equity 0.51.
Its Piotroski F-score is 1 out of 9 and its Altman Z-score is −1.90 (distress zone) for fiscal 2023.

Source: company filings (standardised) and stockrow calculations.