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EXTR

EXTR

Extreme Networks, Inc.
$22.25
+0.14% Oct 21 close
Information TechnologyS&P 600 Compare
-33%-8%+16%+40%+65%Oct 2025Oct 2026Apr 2026
EXTRSPY
1W
-0.9%
1M
-2.1%
3M
-26.5%
6M
+26.6%
YTD
+33.6%
1Y
+7.6%

Live chart

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What they do

Extreme Networks, Inc. develops, markets, and sells network infrastructure equipment and related software in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. It offers ExtremeCloud IQ, a machine learning/AI powered, wired and wireless cloud network management solution that offers visibility and control over users, devices. The company also provides indoor and outdoor Wi-Fi 7 and prior generation Aps; WIPS solutions.

Technology · Communication Equipment

For information only · Important disclosures

Grades vs sector

Momentum
44th percentile in sector
C
12-1 return: +12.8%
Percentile within its GICS sector across the S&P 1500.
Growth
32nd percentile in sector
C-
Revenue growth (YoY): +10.3%
Percentile within its GICS sector across the S&P 1500.
Value
44th percentile in sector
C
Forward E/P: 7.0% · EBITDA/EV: 3.0%
Percentile within its GICS sector across the S&P 1500.
Profitability
56th percentile in sector
C+
Profit margin: +3.3% · Return on equity: +54.6%
Percentile within its GICS sector across the S&P 1500.
Revisions
Not enough data yet
–
EPS estimate change, 30 days (current FY): –
30-day change in analysts' current-year EPS estimate; graded across covered stocks.

Our models

Not held by any of our 5 live models right now.

Quality Growth
Outside this model's universe or screens
Momentum Top 15
Outside this model's universe or screens
Momentum Blend
Not in the current book
New Highs Growth
Outside this model's universe or screens
Coteau Long Book
Not in the current book

News

More news
Extreme Agent ONE Coworker Saves Customers 1,000 Hours in First Month of Availability
Business Wire · 11h ago
Extreme Previews Industry’s First On-Prem Enterprise AI Infrastructure for Networking
Business Wire · 11h ago
Arista Networks Is Outgrowing The Market Fourfold: What To Watch Next
Trefis · Oct 19
What Could Send Arista Networks Stock Higher?
Trefis · Oct 09
Extreme Networks Schedules First Quarter 2027 Financial Results Conference Call
Business Wire · Oct 06

Key stats

Market value$2.9B
P/E (last 12 months)71.8
P/E (next 12 months, estimated)14.6
52-week range$13.48 – $33.73
Revenue growth (latest quarter vs a year ago)+10.3%
Dividend yieldNo dividend
Average analyst price target$33.50 (+51%)
Valuation and fundamentals

Valuation & fundamentals

Bottom line
Roughly fairly valued
Model read-out from the numbers below, not advice. Score +0 (DCF counts double).
▼DCF (base case)below the price by 62%
•Forward P/E vs sector14.6x vs median 16.9x
▲Piotroski F-score7/9
▲Net debt / EBITDA-1.0x
▲Analyst target+51% (8 analysts)

Discounted cash flow

Bear
$6
-73%
growth -0% · disc. 14.0% · term. 2.0%
Base
$8
-62%
growth 5% · disc. 13.0% · term. 2.5%
Bull
$11
-50%
growth 8% · disc. 12.0% · term. 3.0%

A DCF starts from trailing free cash flow, so it can overstate value if the last 12 months were unusually strong (or weak). Use the bear case or edit the starting cash flow if so.

Reverse DCFfor context, not a signal
Today's price assumes free cash flow grows about 19% a year for 10 years.
Implied
+19%/yr
FCF, last 3 yrs
-26%/yr
FCF, last 5 yrs
-6%/yr
Revenue, last 3 yrs
-1%/yr
Revenue, last 5 yrs
+5%/yr
Same inputs as the DCF above: trailing free cash flow 0.1B, 13.0% discount rate, 2.5% growth after year 10, net cash and today's share count. Actual growth rates are compound annual rates from SEC annual filings through FY2026; "n/a" means too little history or a negative starting year.
Edit assumptions · recalculates instantly
Your value per share–

Free cash flow = operating cash flow − capital spending, trailing 12 months (FY to 2026-06-30). Growth default: average of 3-year revenue CAGR and latest revenue growth, capped at 30%. Years 6–10 fade linearly to terminal growth. Discount rate = 4.25% risk-free assumption + beta 1.76 × 5% equity premium, kept within 7–13%. Bear: lower growth, +1 pt discount, 2% terminal. Bull: higher growth, −1 pt, 3%.

Multiples vs Information Technology

P/E (trailing)
sector median 35.9× · 81st pct
71.8×
pricier
Forward P/E
sector median 16.9× · 39th pct
14.6×
cheaper
EV / EBITDA
sector median 20.8× · 77th pct
37.9×
pricier
Price / sales
sector median 4.6× · 24th pct
2.3×
cheaper
Price / book
sector median 5.1× · 95th pct
33.2×
pricier
FCF yield
sector median 3.5% · 48th pct
3.2%
pricier

Forward EPS $1.52 vs trailing $0.31 (+390% expected growth). Forward P/E uses analysts' next-12-month estimate.

Backlog (remaining performance obligations)

RPO
$652.8M
as of 2026-06-30
vs a year ago
+6%
YoY
× TTM revenue
0.51×
coverage
24-09
24-12
25-03
25-06
25-09
25-12
26-03
26-06

Contracted revenue not yet recognized, from SEC filings (XBRL tag RevenueRemainingPerformanceObligation).

Quality & financial health

Gross margin
61.5%
Operating margin
4.9%
FCF margin
7.4%
Net margin
3.3%
Return on equity
47.5%
Return on invested capital
472.8%
Net debt / EBITDA
-1.0×
Current ratio
0.9×
Interest cover
4.5×
Cash conversion (OCF/NI)
2.9×
Piotroski F-score 7/9 · last two fiscal years
✓ Positive net income✓ Positive operating cash flow✓ Return on assets improved✓ Cash flow above net income✓ Long-term debt / assets fell✓ Current ratio improved✗ No share dilution✗ Gross margin improved✓ Asset turnover improved

Analysts

Mean target
$34
+51%
Analysts
8
None
Range
$28–$38
low – high
● price · ◆ mean target

Annual history

FYRevenueNet incomeFree cash flow
2026$1.3B$42.1M$95.2M
2025$1.1B$-7.5M$127.3M
2024$1.1B$-86.0M$37.4M
2023$1.3B$78.1M$235.4M
2022$1.1B$44.3M$112.7M
2021$1.0B$1.9M$127.4M

From the company's 10-K filings via SEC XBRL. 3-year revenue CAGR -0.7%.

Earnings

Next report: 2026-10-28 · before open · EPS est 0.28
24-1025-0125-0425-0825-1026-0126-0426-080.000.32
EstimateActual (beat)Actual (miss)
ReportEPS estActualSurprise
2026-08-050.290.32+10.4%
2026-04-290.240.26+9.6%
2026-01-280.240.26+7.9%
2025-10-290.210.22+2.6%
2025-08-060.220.25+12.8%
2025-04-300.180.21+15.4%
2025-01-290.180.21+20.0%
2024-10-300.130.17+34.8%

Quarterly revenue

QuarterRevenueYoY
2026-06-30$338.5M+10.3%
2026-03-31$316.9M–
2025-12-31$317.9M–
2025-09-30$310.2M–
2025-06-30$307.0M–
Analyst actions
B. Riley Securities
2026-08-06 · main
Buy → Buy
PT $34
Rosenblatt
2026-08-06 · main
Buy → Buy
PT $38
Needham
2026-08-06 · main
Buy → Buy
PT $35
Needham
2026-08-05 · main
Buy → Buy
PT $35
Needham
2026-07-22 · main
Buy → Buy
PT $38
Lake Street
2026-06-15 · main
Buy → Buy
PT $34

Stats refreshed 2026-10-21 12:16:22 ET from Yahoo Finance (yfinance). "–" means the data isn't available. Refresh now

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coteau

Independent research · Not investment advice · Important disclosures · Contact desk@coteau.app

Coteau Systematic Strategies publishes stock research and model portfolios. Results are hypothetical unless marked Live. Data: Yahoo Finance (15-min delayed), SEC EDGAR and the House Clerk.

Beta 0.9 · Oct 21, 2026