Extreme Networks (EXTR) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Extreme Networks

NasdaqGS•Technology•Communication Equipment

$21.89-0.16(-0.01%)Pre-market

Market Cap

$2.93B

P/E

69.5x

P/S

2.3x

P/B

33.0x

Extreme Networks, Inc., together with its subsidiaries, 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, and applications; ExtremeCloud IQ-Site Engine which extends cloud management to non-cloud native and multi-vendor devices; ExtremeCloud IQ Essentials provides wireless intrusion prevention system, location services, and guest management services; and ExtremeCloud SD-WAN, a software-defined wide area networks solution offered as an all-inclusive subscription, which includes hardware, the cloud-based SD-WAN service, support and maintenance, and customer success support. The company also provides indoor and outdoor Wi-Fi 7 and prior generation Aps; WIPS solutions; switch products; Cloud Native Platforms and Applications for Service Providers; and ExtremeCloud Universal ZTNA. In addition, the company offers customer and support services, such as support services for end-users, resellers, and distributors; and premier, professional, and education services. It sells its products through original equipment manufacturers, strategic relationships, distributors, resellers, and field sales. The company serves mid-market and enterprise customers, and services providers. Extreme Networks, Inc., was incorporated in 1996 and is headquartered in Morrisville, North Carolina.

How this company scores

GoodMetricSide Score: 73/100

Strongest: Growth (22/25); weakest: Cash & Earnings Quality (15/25).

Profitability19/25

Growth22/25

Balance Sheet & Red Flags17/25

Cash & Earnings Quality15/25

Strengths

High ROERising earningsCash-backed earningsProfit converts from growth

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 69.5x5y range 26.3x – 313.7x

Currently above its 14-quarter median.

P/S · 2.3x5y range 1.0x – 2.5x

Currently near its 20-quarter median.

P/B · 33.0x5y range 12.9x – 69.2x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Watch

FCF/Net Income has dropped below 0.7x in 3 quarters — monitor for earnings quality deterioration.

Price & Volume

Market Cap $2.93B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $1.28B
Q. Revenue: $338.55M
TTM EBITDA: $62.70M
TTM Op. Income: $62.70M
Q. Op. Income: $21.07M
TTM Net Income: $42.12M
Q. Net Income: $18.04M
EPS: $0.138
Shares Out.: $131.19M

$1.28B in TTM revenue grew 12.6% YoY, reaching $338.55M last quarter. TTM EBITDA of $62.70M and TTM operating income of $62.70M show growth is flowing through to the bottom line. TTM net income of $42.12M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 6 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 62.2%
EBITDA Margin: 6.2%
Op. Margin: 6.2%
Net Margin: 5.3%

Op. margin of 6.2% is up 6.7% YoY — cost efficiency is improving. Net margin at 5.3% and gross margin of 62.2% show how much of each revenue dollar survives to profit. Across the last 8 quarters, operating margin has risen for 4 consecutive quarters — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 69.5x
P/S Ratio: 2.3x
P/B Ratio: 33.0x

At 69.5x P/E, the stock trades above typical market levels — the market expects above-average growth. P/S of 2.3x and P/B of 33.0x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Across the last 4 quarters, P/E has fallen for 3 consecutive quarters — an improving trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $1.18B
Cash: $211.76M
Long-Term Debt: $144.38M
Book Value: $88.59M
D/E Ratio: 1.6
Debt/EBITDA: 6.9

With $1.18B in assets and $144.38M in long-term debt, D/E is 1.6and book value is $88.59M — moderate leverage. Over the past year, debt/equity is down 35% — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $72.85M
TTM Free Cash Flow: $95.24M
FCF Margin: 7.4%
FCF / Net Income: 2.3

TTM FCF of $95.24M on $72.85M in operating cash flow. The FCF / Net Income ratio of 2.3x means free cash flow covers net income — earnings are backed by cash. Across the last 8 quarters, free cash flow has fallen for 2 consecutive quarters — a weakening trend.