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Recent

v0.1
AUDC$10.18+3.46%
Fair $22.22+118.3%

AUDC

AudioCodes Ltd.

Technology / Communication EquipmentNasdaqGS

$10.18

+0.34 (+3.46%)

Significantly Undervalued+118.3%Fair Value $22.22Fund rank 59/100 · PassSEC 17/17 yrs|
SA 61/B
F-Score: 4/9

FCF base 3Y

$8.68

-5.2% CAGR · yield 7.3%

FCF base 5Y

$11.24

+2.0% base · +4.0% expected

Precio de entrada

$5.12

MOS 20% · confianza 81%

FCF escenarios

audited · normalized FCF $11.0M · quality 64.0/100

Pass 59/100
Bear 5Y$6.03-9.9%
Base 5Y$11.24+2.0%
Bull 5Y$20.94+15.5%
Return 52/100Downside 51/100Model quality 47/100Data QA 100/100

Ranking barato/determinista: CAGR esperado 5Y + downside bear + calidad del modelo + balance + capital allocation + data gate. No entra en buy-candidate si la data es débil o el CAGR 5Y no compensa.

Quality + valuation scorecard

SA Score

61/100

B

Piotroski

4/9

balance/quality

Valuation

100/100

+118.3% upside

5Y CAGR

+4.0%

66/100

Data QA

100/100

SEC 100%

Latest source: sec-companyfactsPeriods: 17Warnings: 0sec-companyfacts: 17
Thesis & Journal · AUDCLocal privado en este navegador · AudioCodes Ltd.
Plantilla tipo buy-side: tesis, bull/base/bear, catalizadores, riesgos, kill criteria y fecha de revisión. Esto no gasta GPT-5.5; luego lo usamos como contexto del memo.

Sin guardar todavía.

Market Cap

$259M

P/E

27.1x

↑

EV/EBITDA

16.0x

↑

ROE

5.2%

↑

Gross Margin

65.0%

↑

Debt/Equity

0.22

↑
52-Week Range$10
$7$12
EV/EBITDA Historical16.0x

TradingView lightweight chart

AUDC price, volumen y niveles de valoración

Último $10.18Periodo -76.7%
Buy zone: $5.120Bear 5Y: $6.030Fair value: $22.22Base 5Y: $11.24Bull 5Y: $20.94

Price & Ratios

Absolute Values (Left Axis)

Ratios / Percentages (Right Axis)

Financial statement dashboard

Crecimiento, márgenes y provenance

2009–2025 · 16 años de histórico normalizado

Revenue CAGR

+4.3%

FCF CAGR

+0.9%

FCF margin

9.3%

FCF / Net income

2.56x

Latest source

SEC-backed

Margin decomposition

Último año: revenue $245.6M · net income $9.0M · FCF $22.9M

2009-FY → 2025-FY

Gross margin

65.0%+9.6% pts

Operating margin

5.7%+5.9% pts

Net margin

3.6%+5.9% pts

FCF margin

9.3%-6.3% pts
SEC-backed annual metrics active for 2025, 2024, 2023, 2022, 2021, 2020, 2019, 2018, 2017, 2016, 2015, 2014, 2013, 2012, 2011, 2010, 2009. Local SEC Companyfacts override Yahoo/FMP for audited annual line items; provider-only fields remain as fallback.
MetricTTM
2025SEC
2024SEC
2023SEC
2022SEC
2021SEC
2020SEC
2019SEC
2018SEC
2017SEC
2016SEC
2015SEC
2014SEC
2013SEC
2012SEC
2011SEC
2010SEC
2009SEC
Income Statement
Revenue$245.6M$245.6M$242.2M$244.4M$275.1M$248.9M$220.8M$200.3M$176.2M$156.7M$145.6M$139.8M$151.6M$137.2M$127.5M$155.8M$150.0M$125.9M
Net Income$9.0M$9.0M$15.3M$8.8M$28.5M$33.8M$27.2M$4.0M$13.5M$4.0M$16.2M$366000.00$-86000.00$4.2M$-4.2M$7.2M$12.1M$-2.8M
EBITDA$18.0M$18.0M$19.3M$17.3M$37.5M—————————————
EPS0.310.310.500.280.881.000.830.130.450.130.450.010.000.11-0.110.17——
Gross Margin65.0%65.0%65.3%64.8%65.0%68.7%67.9%47.4%62.8%62.4%60.7%59.2%58.7%57.3%57.4%58.8%55.9%55.4%
Operating Margin5.7%5.7%7.1%5.9%11.4%15.9%17.4%-4.8%9.3%6.2%5.3%1.9%2.3%2.0%-2.9%4.7%7.0%-0.1%
Net Margin3.6%3.6%6.3%3.6%10.3%13.6%12.3%2.0%7.7%2.6%11.2%0.3%-0.1%3.1%-3.3%4.6%8.1%-2.2%
Balance Sheet
Debt/Equity0.220.220.190.210.07—————————————
Current Ratio2.012.01————————————————
Cash Flow
Free Cash Flow$22.9M$22.9M$11.0M$8.9M$6.8M$46.2M$36.9M$21.2M$24.2M$16.2M$16.9M$15.6M—$12.5M$990000.00$-2.9M$14.8M$19.7M
Returns
ROE5.2%5.2%8.0%4.7%15.0%16.4%13.0%4.3%14.3%4.4%14.9%0.3%-0.1%4.0%-4.2%6.8%12.2%-3.4%
Valuation
P/E27.1027.1016.8030.019.558.4010.1264.6318.6764.6318.67840.19—76.38—49.42——
EV/EBITDA15.9915.9914.7321.7415.09—————————————
P/B1.421.421.341.411.441.381.322.802.692.932.772.902.663.133.343.323.47—
Growth & Yield
Revenue Growth1.4%1.4%-0.9%-11.2%10.5%12.7%10.2%13.7%12.4%7.7%4.2%-7.8%10.5%7.6%-18.2%3.9%19.2%—
EPS Growth-38.0%-38.0%78.6%-68.2%-12.0%20.5%538.5%-71.1%246.2%-71.1%4400.0%—-100.0%200.0%-164.7%———
Dividend Yield3.9%3.9%————————————————

Revenue, Net Income & Free Cash Flow ($B)

Margins (%)

Returns (%)

Leverage & Liquidity

Reverse DCF · market-implied EPS growth
terminal P/E 15.0x · COE 10.0%

3Y implied EPS CAGR

42.8%

muy exigente

EPS terminal req.

$0.90

Spread vs growth

-80.8%

5Y implied EPS CAGR

28.7%

muy exigente

EPS terminal req.

$1.09

Spread vs growth

-66.7%

10Y implied EPS CAGR

19.0%

exigente

EPS terminal req.

$1.76

Spread vs growth

-57.0%

Qué te dice: cuánto EPS CAGR está descontando el precio si sales al múltiplo terminal indicado. Si el growth observado queda por debajo, el mercado está pidiendo una ejecución muy fina.

Return attribution · 1Y approxreconcilia total +11.9%

Total return

+11.9%

Start / end P/E

18.9x → 32.8x

EPS bridge

0.50 → 0.31

Residual

-28.2%

EPS growth-38.0%
Multiple rerating+74.1%
Dividend+3.9%
Residual / FX / buybacks / cross-term-28.2%

Simple additive decomposition: total return = EPS growth contribution + P/E multiple contribution + dividend contribution + explicit residual. The residual captures cross-terms, buybacks/share-count effects, FX, special dividends, data noise and methodology mismatch so the bridge always reconciles.

14.7x21.7x
EV/EBITDA vs Sector16.0x
6.5xmed 13.0x24.0x