NETGEAR, Inc.
NTGR Technology Communication Equipment
NETGEAR, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $699.6 million, up 3.84% from fiscal 2024. In the quarter to June 2026, revenue fell 1.16%, EPS fell 22.7% and free cash flow fell 118.6%, each against the same quarter a year earlier.
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NETGEAR, Inc. (NTGR) Altman Z-score
NETGEAR, Inc.'s Altman Z-score for fiscal 2025 is 1.65, in the distress zone (below 1.81).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | 1.65 | (0.69) |
| FY2024 | 2.34 | 0.80 |
| FY2023 | 1.54 | (0.03) |
| FY2022 | 1.56 | (1.42) |
| FY2021 | 2.98 | (0.45) |
| FY2020 | 3.44 | 0.76 |
| FY2019 | 2.68 | (0.25) |
| FY2018 | 2.93 | (0.25) |
| FY2017 | 3.18 | (0.67) |
| FY2016 | 3.85 | 0.00 |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.51 | — | 0.61 | |
| Retained earnings / total assets | (0.64) | — | −0.90 | |
| EBIT / total assets | (0.04) | — | −0.13 | |
| Market value of equity / total liabilities | 2.07 | — | 1.24 | |
| Sales / total assets | 0.84 | — | 0.84 | |
| Altman Z-score | Distress zone | 1.65 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Grey zone | 2.49 | ||
Z and Z″ put NETGEAR, Inc. in different zones: distress zone by Z, grey zone by Z″.
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| FEIM Frequency Electronics, Inc. compare | 9.6× |
| CLFD Clearfield, Inc. compare | 7.4× |
| SILC Silicom Ltd compare | 3.2× |
| LTRX Lantronix, Inc. compare | 2.7× |
| GILT Gilat Satellite Networks Ltd. compare | 1.7× |
| NTGR NETGEAR, Inc. | 1.7× |
| ADTN ADTRAN Holdings, Inc. compare | 0.7× |
| TSAT Telesat Corporation compare | −0.4× |
| HLIT Harmonic Inc. compare | −1.0× |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets