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Perion Network Ltd

PERI Communication Services Advertising Agencies

Perion Network Ltd’s revenue for fiscal 2025 (year ended December 2025) was $439.9 million, down 11.7% from fiscal 2024.

Revenue
−4.60%
EPS
−125.0%
Free cash flow
−88.4%

Quarter to June 2026, against a year earlier

11.39 0.02 −0.18%
Market cap
$370.4M
P/E
0.0×
Fwd P/E
435×
Dividend yield
—
F-score
4/9
Altman Z
2.17
Beneish M
−2.59
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Sold, $m 0.23
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — — 3 1 — 3 — — 3 —
Insider Ownership 18.76%

Capital & Financial Ratios $m

Size
Market Cap 370.39
Revenue ttm 436.22
Net income ttm (12.87)
Free cash flow ttm 35.46
Net debt Q (269.02)
Valuation
P/E 0.00
Forward P/E 435.00 (above 35: high)
Price / sales 0.97
Forward P/S Powerpack
Price / FCF 11.91
Price / book 0.68
Financial health
Current ratio Q 2.53 (at or above 1.5: strong)
Debt / equity Q 0.00 (at or below 0.5: strong)
Interest coverage Q 5.32
Growth
Revenue growth Q −4.60% (below 0%: shrinking)
Operating income growth Q −9.25% (below 0%: shrinking)
EPS, this year +10.62%
EPS, next year A +13.20%
Revenue, next year A +5.74%
EPS, past 5 yrs —
EPS, next 5 yrs A +20.35% (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 0.4×, against a ten-year median of 0.5×; over the ten years it ranged from 0.0× in 2024 to 2.1× in 2023.
P/S against its own 10 years 66.04%
10-year low 10-year high
P/B against its own 10 years 48.59%
10-year low 10-year high
EV/Sales against its own 10 years 42.88%
10-year low 10-year high
EV/FCF against its own 10 years 48.18%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 474 374 314 269
Receivables 232 164 188 161
Inventory — — — —
Other — — — —
727 561 520 457
2023 2024 2025 Q'26
Payables 217 122 130 133
ST’ Debt 74 1 17 —
Other — 4 17 12
340 162 189 180

Compound Annual Growth %

10y 5y 3y
Sales 7.13% 6.04% (11.76%)
Cash Flow 9.09% 13.60% (29.98%)
Earnings 0.00% 0.00% 0.00%
Book Value 12.96% 29.71% 5.05%

Earnings Trends EPS, adjusted, against the consensus

Jun 2026 Estimate 0.02 Actual 0.09

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Sep 2025 0.26 0.28 Beat by 0.02
Dec 2025 0.49 0.49 Met by 0.00
Mar 2026 0.06 0.11 Beat by 0.05
Jun 2026 0.02 0.09 Beat by 0.07
Sep 2026 0.34 — Reports 11 November 2026

EPS $

Mar Jun Sep Dec Year
’26 (0.26) (0.18) — — —
’25 (0.19) (0.08) (0.10) 0.19 (0.19)
’24 0.24 (0.13) 0.04 0.11 0.25
’23 0.48 0.43 0.65 0.78 2.34
’22 0.33 0.41 0.53 0.79 2.06
’21 0.09 0.19 0.28 0.44 1.02
’20 0.05 (0.08) 0.08 0.30 0.36
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 90 98 — — —
’25 89 103 110 137 440
’24 158 109 102 130 498
’23 145 178 185 234 743
’22 125 147 159 210 640
’21 90 110 121 158 478
’20 66 60 83 118 328
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 7 2 — — —
’25 (7) 21 6 22 42
’24 7 (21) 16 4 7
’23 18 47 40 50 155
’22 24 26 35 38 122
’21 13 15 14 29 71
’20 2 0 7 13 22
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 6 2 — — —
’25 (9) 20 5 21 38
’24 6 (21) 12 3 0
’23 18 47 40 50 155
’22 23 26 34 38 121
’21 13 14 14 29 71
’20 2 0 6 13 22
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.3
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 313 274 253 261 328 478 640 743 498 440 436 +3.9% 465 513 580 +9.6%
Gross margin, % 91.71 91.00 90.60 90.24 93.15 94.73 95.25 94.91 90.64 88.23 88.57 (3.5) pt
EBT 3 (82) 11 15 10 45 114 135 15 (5) (13) n/m
EBT margin, % 0.98 (29.78) 4.31 5.56 2.93 9.47 17.75 18.20 3.11 (1.13) (2.88) (2.1) pt
Net income 0 (73) 8 13 10 39 99 115 13 (8) (13) n/m
Per share, $
Per share, $ Revenue 12.26 10.60 9.78 10.07 12.29 13.91 14.27 15.77 10.54 10.45 11.79 (1.8%)
Earnings 0.00 (2.82) 0.31 0.50 0.38 1.13 2.21 2.49 0.27 (0.19) (0.34) n/m
Cash flow 1.19 1.39 1.27 1.72 0.83 2.07 2.72 3.30 0.15 1.00 1.00 (2.0%)
Capex (0.05) (0.06) (0.08) (0.03) (0.02) (0.02) (0.02) (0.02) (0.14) (0.09) (0.04) +6.0%
Free cash flow 1.14 1.33 1.19 1.70 0.81 2.05 2.70 3.28 0.00 0.91 0.96 (2.5%)
Book value 8.16 5.35 5.76 6.36 6.90 13.58 13.00 15.24 15.29 16.06 16.84 +7.8%
Shares, m 26 26 26 26 27 34 45 47 47 42 40 +5.7%
Valuation, ×
Valuation, × P/E 147.00 0.00 8.60 12.44 33.50 21.86 11.41 12.18 31.37 0.00 0.00 27.8
P/S 0.36 0.29 0.27 0.62 1.04 1.73 1.76 1.92 0.80 0.92 0.97 1.0
P/B 0.54 0.58 0.45 0.98 1.85 1.77 1.93 1.99 0.55 0.60 0.68 1.1
EV/Sales 0.50 0.38 0.25 0.44 0.88 1.14 1.10 1.39 0.06 0.25 0.40 0.6
EV/FCF 5.43 3.00 2.04 2.62 13.29 7.72 5.79 6.67 260.11 2.85 4.87 31.0
Cash, $m
Cash, $m Operating cash flow 30 36 33 45 22 71 122 155 7 42 37 +3.6%
Capex (1) (2) (2) (1) 0 (1) (1) (1) (7) (4) (1) +12.0%
Free cash flow 29 34 31 44 22 71 121 155 0 38 35 +3.1%
Balance, $m
Balance, $m Working capital 27 33 27 32 27 252 369 387 400 331 277 +32.1%
Net debt 45 23 (4) (46) (53) (285) (396) (400) (373) (297) (269) n/m
Shareholders’ equity 208 138 149 165 184 467 583 718 723 676 623 +14.0%
Returns, %
Returns, % ROA 0.05 (22.65) 3.06 4.77 3.18 7.22 12.53 11.81 1.27 (0.87) (1.46) (0.9) pt
ROIC 2.80 (29.27) 6.36 9.46 5.85 15.73 36.52 22.47 (0.54) (2.46) (3.19) (5.3) pt
ROE 0.10 (42.00) 5.66 8.21 5.85 11.89 18.90 17.67 1.75 (1.13) (1.96) (1.2) pt
People
People Employees 535 464 363 399 417 420 440 561 528 561 — +0.5%
Revenue/emp, $m 0.58 0.59 0.70 0.66 0.79 1.14 1.46 1.32 0.94 0.78 — +3.3%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Perion Network Ltd vs peers in Advertising Agencies (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
QNST QuinStreet, Inc. $1.2B 14.3× 15.7× +42.67% (above 0%: growing) +450.00% (above 0%: growing) +84.60% (above 0%: growing) 13.32% 5.11% Compare
CRTO Criteo S.A. $858.7M 10.9× 8.2× −11.33% (below 0%: shrinking) −84.72% (below 0%: shrinking) −68.68% (below 0%: shrinking) 49.86% 5.03% Compare
EVC Entravision Communications Corporation $692.2M 21.7× — (loss-making) +87.61% (above 0%: growing) n/m +128.54% (above 0%: growing) 0.00% 12.50% Compare
NEXN Nexxen International Ltd. Sponsored ADR $510.8M 30.7× 18.2× +10.52% (above 0%: growing) −57.14% (below 0%: shrinking) +290.91% (above 0%: growing) 81.30% 4.14% Compare
ADV Advantage Solutions Inc. $412.4M — (loss-making) — (loss-making) +1.80% (above 0%: growing) n/m −56.17% (below 0%: shrinking) 11.87% 0.19% Compare
PERI Perion Network Ltd $370.4M — (loss-making) 435× −4.60% (below 0%: shrinking) n/m −88.36% (below 0%: shrinking) 88.66% (8.19%)
TJGC TJGC Group Limited $322.1M — — — — −1,699.18% (below 0%: shrinking) — — Compare
SDM Smart Digital Group Limited $290.2M — — — — — — — Compare
NCMI National CineMedia, Inc. $152.4M — (loss-making) — (loss-making) +12.74% (above 0%: growing) n/m +60.61% (above 0%: growing) 29.28% (21.92%) Compare
Median of peers $461.6M 18.0× 15.7× +11.63% −57.14% +60.61% 21.30% 4.59%

All 41 Advertising Agencies stocks →

Perion Network Ltd (PERI) Latest News

2 Nov

Impact 4 · · Business Wire
Impact 4 · · mediapost.com

1 Nov

Impact 4 · · PR Newswire
Impact 4 · · Business Wire

8 Oct

Impact 4 · · Zacks

28 Sep

Impact 3 · · Zacks

25 Sep

Impact 3 ·

31 Aug

Impact 4 · · daytondailynews.com

26 Aug

Impact 4 ·

17 Aug

Impact 3 · · The Motley Fool transcript

16 Aug

Impact 4 · · MarketBeat

10 Aug

Impact 3 · transcript
Impact 3 · · MarketBeat transcript
Impact 3 ·
Impact 3 ·

18 Jun

Impact 3 ·
Impact 3 ·

16 Jun

Impact 3 ·

3 Jun

Impact 3 · · Business Wire

21 May

Impact 3 · · Moby transcript

20 May

Impact 4 · · GuruFocus.com
Impact 4 · · Business Wire
Impact 3 · · Zacks
Impact 3 · · The Motley Fool transcript
Impact 3 · · MarketBeat
Impact 3 · · Zacks

13 May

Impact 4 · · InvestorsHub
Impact 4 · · Business Wire

23 Apr

Impact 4 · · Business Wire

20 Mar

Impact 4 · · The Fly
stockrow.com/PERI · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com