Stock fact sheet · data as of
Radware Ltd. (RDWR): fair value, margin of safety and Wheel Score
Ticker symbol RDWR · Technology · Software - Infrastructure · Israel · Growth
Is RDWR undervalued?
Radware Ltd. (RDWR) closed at 33.00 on 5 Nov 2026, 128% above the GLS average fair value of 14.50. 7 of the 8 models that produced a number value the shares below the current price. A gap this wide usually means the market is paying for growth or a story the trailing numbers do not show yet; the models work from filed results, not forecasts, so they are conservative by design.
There is a wide gap between EPV (3.74) and Payback Time (33.34). When the models are this far apart the "fair value" is really a range, and the margin of safety above should be read with that range in mind.
Ranked against every other company we cover, RDWR is clearly faster-growing than it is cheap, so the nightly engine files it under Growth (value score 15, growth score 72, out of 100).
Nine valuation models for RDWR
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | 6.76 | -80% | Present value of the projected free cash flows, discounted at the cost of capital |
| Graham Number | 7.59 | -77% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 11.49 | -65% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 4.45 | -87% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 20.62 | -38% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | 28.02 | -15% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | 33.34 | +1% | Eight years of compounded free cash flow: the price at which the business pays for itself |
| DDM | - | - | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend; no value tonight |
| EPV | 3.74 | -89% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | 0.8561 | -97% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 40.00 | +21% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
Radware Ltd. scores 8 of 9 on the Piotroski F-score, the nine yes/no tests of profitability, leverage and efficiency on the latest annual accounts - a strong reading that passes the "Piotroski 6 or more" Wheel Trade Filter with room to spare. A GLS Moat score of 4.7/10 is a weak reading: the accounts do not show returns and margins that competitors have been unable to wear down, so the Moat part of the Wheel Score contributes little.
Returns on capital are moderate - ROIC 5.5%, ROE 5.8%, ROA 3.0% - with debt at 0.05 times equity and a free-cash-flow yield of 3.5%.
Radware Ltd. pays no dividend, so the DDM model does not apply and a covered-call holder earns only the premium and any price gain. Revenue comes mainly from Products 63%, Services 37% (fiscal year FY2025).
Institutional ownership scores 9/10, insider activity 1/10 and Congressional trading 5/10 on the GLS smart-money scales.
| Piotroski F-score | 8 / 9 | ROIC | 5.5% |
|---|---|---|---|
| GLS Moat | 4.7 / 10 | ROE | 5.8% |
| Debt / equity | 0.05 | ROA | 3.0% |
| Free-cash-flow yield | 3.5% | Payout ratio | 0% |
| Institutions | 9 / 10 | Insiders · Congress | 1 · 5 / 10 |
Wheel Score 39: Weak
With a Wheel Score of 39 Radware Ltd. sits in the Weak band. It fails filter 3, below fair value - trades 128% above our fair value; Value (weak) is its weakest part.
Implied volatility is 53% on the near-the-money contracts 20-60 days out - inside the 35-60% sweet spot the Wheel Score rewards most: enough premium to be worth selling, not so much that the risk is unpaid. Chain open interest is thin - 1,851 contracts across every expiry - so fills at a fair price are not guaranteed; a 30-45-day put may not exist at a usable strike.
Volume runs at 305k shares a day on a market cap of $1.4B, with a beta of 0.84; the Stability part of the Wheel Score rates that fair.
| Filter | Wheel Trade Filter | Result | Detail |
|---|---|---|---|
| 1 | Options that actually trade | Passes | Listed options with 1,000+ contracts of open interest and 100+ traded a day |
| 2 | A real business, not a gamble | Passes | Profitable over the last twelve months - not a speculative stock, fund or note |
| 3 | Below fair value | Fails | trades 128% above our fair value |
| 4 | Financially healthy | Passes | Piotroski F-score 6 or more out of 9 (a company with no score on file passes) |
| 5 | Can repay its debt | Passes | Long-term debt repaid from 3 years of operating cash flow or less (6 for real estate and utilities; banks and insurers are not judged on it) |
| 6 | No serious red flags | Passes | Red Flags score 60 or more out of 100 (earnings, margins, debt, analysts, filings and price checked the same way for every stock) |
| 7 | A premium worth selling | Passes | Implied volatility 25-80% (enough premium, not a lottery ticket) |
| 8 | Big enough | Passes | Market cap $1 billion or more |
| 9 | Not a penny stock | Passes | Share price $5 or more |
| How it ranks | Rating | From | |
|---|---|---|---|
| Value | Weak | 128% above fair value | |
| Premium | Strong | implied volatility 53% | |
| Moat | Fair | moat 4.7/10 | |
| Health | Strong | Piotroski 8/9 | |
| Red Flags | Strong | Red Flags score 100/100 | |
| Option trading | Weak | 263 contracts a day, 1,851 open interest | |
| Stability | Fair | beta 0.84, $1.4B company |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls: a stock must pass all 9 Wheel Trade Filters to score 70, and the score then ranks the ones that pass; the Sunday Scan is the top 10. It is updated nightly and is not a recommendation. How the Wheel Score works · the walkthrough lesson shows how it fits into a trade, start to finish.
Upcoming events
No upcoming earnings date is recorded for RDWR in the nightly calendar.
No analyst upgrades or downgrades were recorded in the last 30 days.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
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The 12 companies below are the closest to Radware Ltd. by market cap within the Software - Infrastructure industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
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| STNE StoneCo Ltd. | 7.69 | 69.43 | +89% | 49Weak | $1.8B |
| MQ Marqeta, Inc. | 18.60 | 38.46 | +52% | 80Good | $1.8B |
| PRGS Progress Software Corporation | 44.79 | 72.05 | +38% | 52Fair | $1.8B |
| NYAX Nayax Ltd. | 49.54 | 48.32 | -3% | 16No options | $1.9B |
| RPD Rapid7, Inc. | 15.04 | 19.62 | +23% | 31Weak | $1.0B |
| PICS PicS N.V. | 7.26 | 73.26 | +90% | 33Weak | $941M |
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| OSPN OneSpan Inc. | 23.66 | 34.06 | +31% | 47Weak | $873M |
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Start free See the Sunday ScanQuestions about RDWR
Is RDWR undervalued right now?
No: at 33.00 the stock trades 128% above the GLS average fair value of 14.50 (data as of 5 Nov 2026), well beyond what trailing earnings, cash flow and book value support.
What is the Wheel Score of RDWR and what does it mean?
RDWR scores 39 out of 100 (Weak) - it fails Wheel Trade Filter 3. The Wheel Score ranks stocks for the wheel strategy - selling cash-secured puts, then covered calls if assigned - in two parts: the 9 pass/fail Wheel Trade Filters (busy options, a real business, below fair value, Piotroski 6 or more, debt it can repay, a Red Flags score of 60 or more, implied volatility of 25-80%, a $1 billion company, $5 a share) and a ranking of how strongly a stock passes on value, premium, moat, health, red flags, option trading and stability. A stock that fails any filter stays under 70; 70-84 is Good, 85 and above is Prime. The Sunday Scan is the top 10 that pass, sorted by Wheel Score.
What is the GLS fair value for RDWR?
14.50 per share as of 5 Nov 2026 - the simple average of the 8 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does Radware Ltd. report earnings next?
No upcoming earnings date is recorded for RDWR in our calendar as of 5 Nov 2026; the Calendars page is refreshed every morning.
Does RDWR have listed options, and how liquid are they?
Yes. The nightly snapshot found 100 listed contracts with 1,851 open interest across all expiries and implied volatility of 53% on the near-the-money contracts. The Options scanner lists the cash-secured put and covered call set-ups with premium and annualised yield worked out.