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Extreme Networks, Inc.

EXTR Technology Communication Equipment

Extreme Networks, Inc.’s revenue for fiscal 2026 (year ended June 2026) was $1.3 billion, up 12.6% from fiscal 2025.

Revenue
+10.3%
EPS
+333.3%
Free cash flow
−13.3%
Total debt
−8.02%

Quarter to June 2026, against a year earlier

22.61 0.98 −4.15%
Market cap
$3.1B
P/E
70.8×
Fwd P/E
42.1×
Dividend yield
—
F-score
7/9
Altman Z
2.51
Beneish M
−2.52
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Sold, $m 25.09
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — 1 1 1 2 9 5 1 3 1 1 —
Insider Ownership 3.53%

Capital & Financial Ratios $m

Size
Market Cap 3,120.00
Revenue ttm 1,283.59
Net income ttm 42.12
Free cash flow ttm 95.24
Net debt Q (48.03)
Valuation
P/E 70.75 (above 35: high)
Forward P/E 42.10 (above 35: high)
Price / sales 2.34
Forward P/S Powerpack
Price / FCF 31.89
Price / book 33.93 (above 6: high)
Financial health
Current ratio Q 0.93 (below 1: weak)
Debt / equity Q 1.85
Interest coverage Q 5.99
Growth
Revenue growth Q +10.28% (above 0%: growing)
Operating income growth Q +1,631.21% (above 0%: growing)
EPS, this year +29.07% (at or above 15%: strong)
EPS, next year A +14.31%
Revenue, next year A +9.77%
EPS, past 5 yrs +82.77% (at or above 15%: strong)
EPS, next 5 yrs A +18.39% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 2.3×, against a ten-year median of 1.5×; over the ten years it ranged from 0.5× in 2016 to 3.3× in 2026.
P/E against its own 10 years 62.45%
10-year low 10-year high
P/S against its own 10 years 92.36%
10-year low 10-year high
P/B against its own 10 years 76.83%
10-year low 10-year high
EV/Sales against its own 10 years 91.48%
10-year low 10-year high
EV/FCF against its own 10 years 85.77%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 2026
Cash 235 157 232 212
Receivables 182 90 127 165
Inventory 89 141 103 70
Other — — — —
576 467 535 550
2023 2024 2025 2026
Payables 100 51 64 89
ST’ Debt 34 9 14 19
Other — — — —
576 518 588 593

Compound Annual Growth %

10y 5y 3y
Sales 9.46% 4.92% (0.74%)
Cash Flow 15.03% (3.15%) (20.93%)
Earnings 0.00% 85.15% (18.59%)
Book Value (0.18%) 10.22% (8.79%)

Earnings Trends EPS, adjusted, against the consensus

Q1 FY27 Estimate 0.28 Actual 0.33

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q2 FY26 0.24 0.26 Beat by 0.02
Q3 FY26 0.24 0.26 Beat by 0.02
Q4 FY26 0.29 0.32 Beat by 0.03
Q1 FY27 0.28 0.33 Beat by 0.05
Q2 FY27 0.33 — Reports 27 January 2027

EPS $

Sep Dec Mar Jun Year
’26 — — — — —
’26 0.04 0.06 0.08 0.13 0.31
’25 (0.08) 0.06 0.03 (0.06) (0.06)
’24 0.21 0.03 (0.50) (0.42) (0.65)
’23 0.09 0.13 0.17 0.19 0.58
’22 0.10 0.10 0.10 0.04 0.33
’21 (0.07) (0.02) 0.03 0.08 0.02
Fiscal quarters ending in the months shown.

Revenue $m

Sep Dec Mar Jun Year
’26 — — — — —
’26 310 318 317 339 1,284
’25 269 279 285 307 1,140
’24 353 296 211 257 1,117
’23 298 318 333 364 1,312
’22 268 281 286 278 1,112
’21 236 242 253 278 1,009
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Sep Dec Mar Jun Year
’26 — — — — —
’26 (14) 50 14 73 123
’25 19 22 30 82 152
’24 76 34 (70) 15 55
’23 50 71 48 81 249
’22 40 22 2 64 128
’21 25 38 25 57 145
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Sep Dec Mar Jun Year
’26 — — — — —
’26 (21) 43 8 65 95
’25 12 16 24 75 127
’24 71 29 (74) 11 37
’23 47 67 46 76 235
’22 37 19 (3) 60 113
’21 22 33 20 52 127
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.3
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to June

Ten-year view Analyst estimates Powerpack
Group Line 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 Trend 10 yrs 2027e 2028e 2029e Next 3/yr
Income, $m
Income, $m Revenue 607 983 996 948 1,009 1,112 1,312 1,117 1,140 1,284 +8.7% 1,409 1,545 1,715 +10.1%
Gross margin, % 54.52 54.37 55.36 54.62 57.97 56.63 57.50 56.47 62.20 61.48 +7.0 pt
EBT 3 (47) (26) (120) 10 52 94 (77) 4 51 +39.4%
EBT margin, % 0.43 (4.74) (2.60) (12.71) 1.01 4.69 7.17 (6.94) 0.37 4.01 +3.6 pt
Net income (2) (47) (26) (127) 2 44 78 (86) (7) 42 n/m
Per share, $
Per share, $ Revenue 5.61 8.61 8.44 7.91 8.14 8.59 10.14 8.64 8.62 9.67 +6.2%
Earnings (0.02) (0.41) (0.22) (1.06) 0.02 0.34 0.60 (0.65) (0.06) 0.32 n/m
Cash flow 0.55 0.17 0.89 0.30 1.17 0.99 1.92 0.43 1.15 0.93 +6.0%
Capex (0.10) (0.35) (0.19) (0.13) (0.14) (0.12) (0.11) (0.14) (0.19) (0.21) +9.1%
Free cash flow 0.45 (0.19) 0.70 0.17 1.03 0.87 1.82 0.29 0.96 0.72 +5.3%
Book value 1.16 0.99 0.98 0.05 0.44 0.70 0.90 0.20 0.50 0.67 (6.0%)
Shares, m 108 114 118 120 124 129 129 129 132 133 +2.3%
Valuation, ×
Valuation, × P/E 0.00 0.00 0.00 0.00 558.00 26.24 42.70 0.00 0.00 101.16 72.8
P/S 1.64 0.98 0.78 0.55 1.37 1.04 2.57 1.52 2.08 3.35 1.6
P/B 7.94 8.52 6.70 96.33 25.41 12.78 28.89 67.14 36.22 48.51 33.8
EV/Sales 1.58 1.06 0.79 0.78 1.46 1.14 2.56 1.55 2.04 3.31 1.6
EV/FCF 20.07 (46.40) 9.68 37.56 11.69 11.31 14.33 47.51 18.38 45.08 16.9
Cash, $m
Cash, $m Operating cash flow 59 19 105 36 145 128 249 55 152 123 +8.5%
Capex (10) (40) (23) (15) (17) (15) (14) (18) (25) (28) +11.6%
Free cash flow 49 (21) 82 21 127 113 235 37 127 95 +7.7%
Balance, $m
Balance, $m Working capital 86 68 86 16 32 (11) 1 (51) (53) (43) n/m
Net debt (38) 77 9 217 93 109 (13) 31 (54) (48) +2.7%
Shareholders’ equity 126 113 116 5 54 90 117 25 66 89 (3.8%)
Returns, %
Returns, % ROA (0.42) (7.61) (3.39) (14.61) 0.19 4.26 7.06 (7.87) (0.68) 3.61 +4.0 pt
ROIC 4.29 (12.61) (7.36) (27.76) 14.60 20.08 65.19 (72.54) 89.51 96.62 +92.3 pt
ROE (1.62) (39.25) (22.61) (209.00) 6.47 61.14 75.40 (121.05) (16.44) 54.64 +56.3 pt
People
People Employees 1,628 2,713 2,713 2,584 2,441 2,643 2,849 2,656 2,811 2,894 +6.6%
Revenue/emp, $m 0.37 0.36 0.37 0.37 0.41 0.42 0.46 0.42 0.41 0.44 +1.9%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Jun 2026 · latest quarter Jun 2026

Extreme Networks, Inc. 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
VSAT Viasat Inc. $10.7B — (loss-making) — (loss-making) −1.24% (below 0%: shrinking) n/m −31.14% (below 0%: shrinking) 35.70% 4.09% Compare
VIAV Viavi Solutions Inc. $8.2B — (loss-making) 26.6× +52.53% (above 0%: growing) +250.00% (above 0%: growing) +2,728.57% (above 0%: growing) 59.06% 13.83% Compare
AAOI Applied Optoelectronics, Inc. $6.7B — (loss-making) 19.6× +86.42% (above 0%: growing) n/m −191.62% (below 0%: shrinking) 27.72% (12.88%) Compare
BDC Belden Inc $4.2B 17.0× 16.9× +11.63% (above 0%: growing) +14.29% (above 0%: growing) +55.69% (above 0%: growing) 39.14% 13.23% Compare
ONDS Ondas Holdings Inc. $4.0B — (loss-making) 23.4× +1,235.44% (above 0%: growing) n/m −1,000.26% (below 0%: shrinking) 43.13% (194.51%) Compare
EXTR Extreme Networks, Inc. $3.1B 70.8× 42.1× +10.28% (above 0%: growing) n/m −13.31% (below 0%: shrinking) 62.17% 6.22%
DGII Digi International Inc. $3.0B 55.8× 47.9× +28.98% (above 0%: growing) +50.00% (above 0%: growing) +41.46% (above 0%: growing) 64.85% 16.51% Compare
VISN Vistance Networks, Inc. $1.5B 0.2× 9.4× −37.66% (below 0%: shrinking) +1,671.43% (above 0%: growing) −200.40% (below 0%: shrinking) 35.33% (2.78%) Compare
HLIT Harmonic Inc. $1.2B — (loss-making) 20.6× +53.55% (above 0%: growing) n/m −284.31% (below 0%: shrinking) 52.37% 17.71% Compare
Median of peers $4.1B 17.0× 20.6× +40.75% +150.00% −111.38% 41.14% 8.66%

All 46 Communication Equipment stocks →

Pay and ownership Proxy statement filed 18 September 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2026 14.24m 34.77m 289.91
2025 11.98m 19.58m 160.78
2024 14.96m (12.16m) 120.49
2023 16.13m 52.66m 233.39
2022 8.91m 6.15m 79.93

Ownership

Directors and executive officers, together 3.20%
BlackRock Inc. 13.90%
Vanguard Portfolio Management 10.20%
Vanguard Capital Management 5.10%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Extreme Networks, Inc. (EXTR) Latest News

28 Oct

Impact 4 · · MarketBeat
Impact 4 · · Moby
Impact 4 · · The Motley Fool transcript
Impact 4 · · Business Wire
Impact 3 · · Associated Press
Impact 3 · · Zacks

21 Oct

Impact 4 · · Business Wire
Impact 4 · · Business Wire

4 Oct

Impact 4 · · Simply Wall St.

29 Sep

Impact 3 · · Trefis

24 Sep

Impact 3 · · Simply Wall St.

9 Sep

Impact 4 ·

17 Aug

Impact 4 ·

13 Aug

Impact 4 · · MarketBeat
Impact 3 · · Trefis

12 Aug

Impact 4 ·
Impact 4 · · The Motley Fool transcript
Impact 3 ·

5 Aug

Impact 4 · · Moby transcript
Impact 4 · transcript
Impact 4 · · MarketBeat transcript
Impact 4 ·
Impact 3 ·

1 Aug

Impact 3 · · Trefis

24 Jul

Impact 4 ·

11 Jul

Impact 3 ·

7 Jul

Impact 3 · · Trefis

25 Jun

Impact 4 · · Business Wire
Impact 3 · · Business Wire

20 Jun

Impact 3 ·
stockrow.com/EXTR · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com