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Ondas Holdings Inc.

ONDS Technology Communication Equipment

Ondas Holdings Inc.’s revenue for fiscal 2025 (year ended December 2025) was $50.7 million, up 605.3% from fiscal 2024.

Revenue
+1,235.4%
EPS
−125.0%
Free cash flow
−1,000.3%
Total debt
+1,276.0%

Quarter to June 2026, against a year earlier

5.00 0.48 +10.62%
Market cap
$2.6B
P/E
0.0×
Fwd P/E
23.4×
Dividend yield
—
F-score
6/9
Altman Z
1.88
Beneish M
1.99
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Sold, $m 37.60
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell 5 — — — — 2 1 — 1 1 — —
Insider Ownership 0.00%

Capital & Financial Ratios $m

Size
Market Cap 2,630.00
Revenue ttm 174.10
Net income ttm 163.06
Free cash flow ttm (171.92)
Net debt Q (1,388.84)
Valuation
P/E 0.00
Forward P/E 23.40
Price / sales 13.23 (above 10: high)
Forward P/S Powerpack
Price / FCF 0.00
Price / book 1.46
Financial health
Current ratio Q 9.85 (at or above 1.5: strong)
Debt / equity Q 0.00 (at or below 0.5: strong)
Interest coverage Q (156.53)
Growth
Revenue growth Q +1,235.44% (above 0%: growing)
Operating income growth Q −1,661.58% (below 0%: shrinking)
EPS, this year +149.59% (at or above 15%: strong)
EPS, next year A −208.30% (below 0%: weak)
Revenue, next year A +957.93% (at or above 10%: strong)
EPS, past 5 yrs —
EPS, next 5 yrs A +54.09% (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 5.3×, against a ten-year median of 49.9×; over the ten years it ranged from 0.4× in 2023 to 4,730× in 2019.
P/S against its own 10 years 31.69%
10-year low 10-year high
P/B against its own 10 years 18.24%
10-year low 10-year high
EV/Sales against its own 10 years 15.78%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 15 30 616 1,393
Receivables 3 5 22 72
Inventory 2 10 22 52
Other 3 2 25 88
24 48 686 1,606
2023 2024 2025 Q'26
Payables 5 6 14 31
ST’ Debt — — — —
Other 1 0 2 2
36 51 142 163

Compound Annual Growth %

10y 5y 3y
Sales 157.88% 87.94% 187.91%
Cash Flow 0.00% 0.00% 0.00%
Earnings 0.00% 0.00% 0.00%
Book Value 0.00% 96.49% 96.51%

Earnings Trends EPS, adjusted, against the consensus

Q2 FY26 Estimate −0.07 Actual −0.03

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q3 FY25 −0.05 −0.06 Miss by 0.01
Q4 FY25 −0.06 −0.39 Miss by 0.33
Q1 FY26 −0.03 −0.12 Miss by 0.09
Q2 FY26 −0.07 −0.03 Beat by 0.04
Q3 FY26 −0.09 — Reports 12 November 2026

EPS $

Mar Jun Sep Dec Year
’26 0.56 (0.19) — — —
’25 (0.15) (0.08) (0.03) (0.41) (0.62)
’24 (0.17) (0.14) (0.15) (0.14) (0.61)
’23 (0.30) (0.18) (0.15) (0.26) (0.88)
’22 (0.24) (0.27) (0.32) (0.90) (1.73)
’21 (0.12) (0.10) (0.13) (0.10) (0.44)
’20 (0.14) (0.16) (0.17) (0.19) (0.66)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 50 84 — — —
’25 4 6 10 30 51
’24 1 1 1 4 7
’23 3 5 3 5 16
’22 0 1 1 0 2
’21 1 1 0 1 3
’20 0 1 1 0 2
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (51) (86) — — —
’25 (7) (8) (11) (13) (39)
’24 (7) (9) (9) (8) (33)
’23 (13) (9) (6) (6) (34)
’22 (7) (8) (11) (12) (38)
’21 (3) (4) (5) (5) (17)
’20 (2) (1) (2) (3) (8)
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (53) (94) — — —
’25 (7) (9) (11) (14) (41)
’24 (9) (10) (8) (8) (35)
’23 (13) (9) (6) (6) (34)
’22 (9) (9) (12) (11) (41)
’21 (3) (4) (5) (6) (18)
’20 (2) (1) (2) (3) (8)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 0 0 0 0 2 3 2 16 7 51 174 +175.8% 537 1,013 1,352 +198.7%
Gross margin, % (125.45) 70.92 79.32 75.31 42.88 37.70 52.18 40.67 4.80 39.73 43.72 +165.2 pt
EBT 0 (3) (12) (19) (13) (18) (73) (45) (38) (133) 135 +150.2%
EBT margin, % (629.09) (1,101.38) (6,366.79) (6,051.84) (622.91) (617.37) (3,445.38) (285.79) (528.39) (261.95) 77.39 +367.1 pt
Net income 0 (3) (12) (19) (13) (15) (73) (45) (38) (133) 163 +150.3%
Per share, $
Per share, $ Revenue 0.00 0.02 0.01 0.02 0.11 0.09 0.05 0.30 0.10 0.23 0.35 +71.3%
Earnings (0.01) (0.19) (0.42) (1.10) (0.66) (0.44) (1.73) (0.88) (0.61) (0.62) (0.04) +55.7%
Cash flow (0.01) (0.16) (0.30) (0.83) (0.37) (0.49) (0.90) (0.64) (0.48) (0.17) (0.32) +37.9%
Capex 0.00 0.00 (0.02) (0.02) 0.00 (0.03) (0.07) 0.00 (0.02) (0.01) (0.02) n/m
Free cash flow (0.01) (0.16) (0.32) (0.85) (0.37) (0.52) (0.97) (0.65) (0.50) (0.18) (0.34) +38.7%
Book value (0.02) (0.49) (0.52) (0.71) 0.74 3.28 1.38 0.63 0.24 1.99 3.15 n/m
Shares, m 3 16 29 18 20 34 42 53 70 222 357 +61.3%
Valuation, ×
Valuation, × P/E 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.0
P/S 1,034.63 1,034.63 2,702.65 659.59 88.09 78.91 30.60 6.12 24.88 42.67 13.23 570.3
P/B 0.00 0.00 0.00 0.00 12.64 2.04 1.12 2.90 10.79 4.90 1.46 3.4
EV/Sales 1,034.20 1,034.20 2,698.72 654.81 76.50 65.00 23.46 5.36 22.93 30.60 5.25 564.6
EV/FCF (63.57) (63.57) (56.25) (13.97) (21.84) (10.54) (1.22) (2.46) (4.69) (37.91) (5.31) (27.6)
Cash, $m
Cash, $m Operating cash flow 0 (3) (9) (15) (8) (17) (38) (34) (33) (39) (161) +122.5%
Capex — — (1) 0 0 (1) (3) 0 (2) (2) (11) +20.0%
Free cash flow 0 (3) (9) (15) (8) (18) (41) (34) (35) (41) (172) +123.8%
Balance, $m
Balance, $m Working capital 0 (5) (15) (13) 15 40 13 (12) (3) 544 1,442 n/m
Net debt 0 2 (1) (2) (25) (41) (15) (12) (14) (612) (1,389) n/m
Shareholders’ equity 0 (8) (15) (12) 15 112 58 33 17 442 1,576 n/m
Returns, %
Returns, % ROA (505.11) (835.67) (715.98) (560.00) (82.24) (20.59) (68.01) (48.77) (42.04) (22.08) 10.38 +483.0 pt
ROIC 0.00 0.00 0.00 0.00 0.00 (15.66) (101.04) (116.99) (882.16) 0.00 (81.81) 0.0 pt
ROE 92.14 75.78 106.08 141.97 (1,015.90) (23.60) (85.94) (101.49) (170.64) (59.85) 19.59 (152.0) pt
People
People Employees — — 35 22 15 74 116 108 124 495 — +46.0%
Revenue/emp, $m 0.00 0.00 0.01 0.01 0.14 0.04 0.02 0.15 0.06 0.10 — n/m
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026 · fundamentals updated 25 Oct 2026

Ondas Holdings 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. $8.2B — (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. $6.5B 97.4× 26.6× +56.90% (above 0%: growing) n/m +459.89% (above 0%: growing) 61.22% 17.41% Compare
AAOI Applied Optoelectronics, Inc. $4.0B — (loss-making) 19.6× +127.49% (above 0%: growing) n/m +96.12% (above 0%: growing) 28.22% (0.53%) Compare
BDC Belden Inc $3.8B 21.7× 16.9× +38.35% (above 0%: growing) n/m +25.32% (above 0%: growing) 35.07% 1.74% Compare
EXTR Extreme Networks, Inc. $2.8B 52.7× 42.1× +9.94% (above 0%: growing) +203.75% (above 0%: growing) +285.41% (above 0%: growing) 62.13% 6.77% Compare
ONDS Ondas Holdings Inc. $2.6B — (loss-making) 23.4× +1,235.44% (above 0%: growing) n/m −1,000.26% (below 0%: shrinking) 43.13% (194.51%)
DGII Digi International Inc. $2.4B 48.0× 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. $1.3B 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. $1.0B — (loss-making) 20.6× +4.53% (above 0%: growing) +571.00% (above 0%: growing) −124.42% (below 0%: shrinking) 51.81% 17.58% Compare
Median of peers $3.3B 48.0× 20.6× +19.46% +387.38% +33.39% 43.76% 5.43%

All 46 Communication Equipment stocks →

Pay and ownership Proxy statement filed 21 April 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 426.07k 426.07k 613.84
2024 219.29k 219.29k 175.47
2023 222.32k 222.32k 96.23

Ownership

Directors and executive officers, together 1.67%
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

Ondas Holdings Inc. (ONDS) Latest News

5 Nov

Impact 4 · · ACCESS Newswire
Impact 3 · · 24/7 Wall St.

4 Nov

Impact 3 · · Simply Wall St.
Impact 3 · · ACCESS Newswire

30 Oct

Impact 3 · · Insider Monkey

29 Oct

Impact 4 · · Zacks
Impact 4 · · PR Newswire
Impact 4 · · Trefis
Impact 3 · · Simply Wall St.
Impact 3 · · ACCESS Newswire

26 Oct

Impact 4 · · Trefis

22 Oct

Impact 4 · · Trefis

20 Oct

Impact 4 · · Zacks

19 Oct

Impact 3 · · Zacks

16 Oct

Impact 4 · · Zacks
Impact 4 · · Stocktwits

15 Oct

Impact 4 · · Trefis

14 Oct

Impact 3 · · 24/7 Wall St.

13 Oct

Impact 4 · · ACCESS Newswire

12 Oct

Impact 4 · · Stocktwits
Impact 4 · · 24/7 Wall St.
Impact 4 · · Simply Wall St.
Impact 4 · · InvestorsHub
Impact 4 · · ACCESS Newswire

8 Oct

Impact 4 · · Trefis
Impact 4 · · 24/7 Wall St.
Impact 4 · · Zacks

7 Oct

Impact 4 · · 24/7 Wall St.
Impact 4 · · Proactive Investors
Impact 4 · · Stocktwits

ONDS metrics, ten years each

stockrow.com/ONDS · Data as of Oct 25, 2026 · For information only; not investment advice. · © 2026 stockrow.com