Radware Ltd.

RDWRNASDAQTechnology● Active

$27.94

$-1.18(-4.05%)

Market Cap$1.2B

P/E Ratio—

52W High$31.92

52W Low$21.68

Avg Volume261K

Open$29.12

Beta0.85

Overview

Radware Ltd. (RDWR) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

RDWR · free cash flow · updated Jun 8, 2026

Core FCF metrics

RDWR · FCF · TTM · margin & CAGR

Free cash flow was $41.6M for FY2025 (fiscal year ending 2025-12-31), down 37.4% year-over-year The FCF margin was 13.8%. Five-year CAGR stands at -4.8%.

FY2025 Free Cash Flow$41.6M▼ -37.4% YoY

Trailing 12M (TTM)$36.4Mtrailing 4 quarters sum

FCF Margin13.8%$41.6M ÷ revenue

3-Year CAGR+21.2%FY2022 → FY2025

5-Year CAGR-4.8%FY2020 → FY2025

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

RDWR · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$50.1M(9M)$41.6M▼ 37.4%13.8%

FY2024$71.6M(5M)$66.3M▲ +842.9%24.1%

FY2023−$3.5M(5M)−$8.9M▼ 138.3%-3.4%

FY2022$32.1M(9M)$23.3M▼ 64.7%8.0%

FY2021$71.8M(6M)$66.2M▲ +24.5%23.1%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

RDWR · P/FCF · FCF yield · FCF per share

Radware Ltd. (RDWR) trades at a FCF yield of 3.02% and a price-to-free-cash-flow ratio of 32.9x. FCF per share stands at $0.85, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

3.02%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$0.85

TTM FCF ÷ Shares Outstanding

Price / FCF

x32.9

Share Price ÷ FCF per Share

EV / FCF (TTM)

x30.5

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

RDWR · cash flow statement · operating / investing / financing

For FY2025, Radware Ltd. generated $50.1M in operating cash flow and spent 9M in capital expenditures, yielding $41.6M in free cash flow.

Operating Activities

+$50.1M

Cash from core business operations

2025-12-31

Investing Activities

−$30.1M

CapEx, acquisitions & investments

2025-12-31

Financing Activities

−$13.7M

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($50.1M) − |CapEx| (9M) = FCF ($41.6M)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Technology)

RDWR vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Radware Ltd.YOU

RDWR

$41.6M-37.4%13.8%

Taiwan Semiconductor Manufacturing Company Limited

Microsoft Corporation

Technology · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

Radware Ltd. (RDWR) reported free cash flow of $41.6M for FY2025 (fiscal year ending 2025-12-31), down 37.4% year-over-year. The FCF margin was 13.8%.

Based on available data, Radware Ltd. has maintained positive free cash flow for at least 14 fiscal year(s). FCF peaked at $66.3M in FY2024. The 5-year CAGR stands at -4.8%.

Radware Ltd.'s FCF yield is 3.02% and price-to-FCF ratio is 32.9x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

RDWR free cash flow · 8 questions

Radware Ltd. free cash flow was $41.6M for FY2025, down 37.4% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $36.4M.

RDWR free cash flowRDWR FCFRDWR FCF 2025RDWR free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Radware Ltd. · Radware Ltd. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026