Recent News
November 12, 2025 — NETGEAR announced an Investor Day to be held on November 17, 2025 to showcase its business transformation and long-term strategy. November 20, 2025 — Industry press covered NETGEAR’s new Nighthawk 5G M7 portable hotspot with Wi‑Fi 7 and global eSIM support, highlighting multi‑gigabit connectivity and travel-focused features.
Technical Analysis
ADX at 32.22 indicates a strong trend in place, adding conviction that recent directional moves carry momentum and will influence short-term price discovery.
DI+ registered a peak-and-reversal, signaling bearish directional pressure; DI- sits at 25.15 and is decreasing, which signals weakening downside follow-through and produces directional tension that favors consolidation with a downward tilt.
MACD stands at -0.69 and recently moved above its signal line (-0.82), reflecting increasing bullish momentum within a negative MACD level; that crossover suggests momentum has begun to recover but stays positioned below zero, limiting upside follow-through until momentum strengthens further.
MRO reads 2.44 and sits positive, indicating the current price trades above the model target and therefore carries a propensity to mean‑revert lower absent new buying interest.
RSI at 41.42 with a peak-and-reversal indicates waning bullish momentum and room for additional downside before oversold conditions attract strong reversing flows.
Price trades below the 12‑day EMA ($24.42) and 20‑day average ($24.33) while remaining under the 50‑day ($26.76) and 200‑day ($27.50) averages; that price‑versus‑MA configuration supports near‑term downside pressure and keeps the $25.96 supertrend upper band as a technical resistance level.
Volatility and volume context: 42‑day volatility low at 0.02 and 52‑week volatility at 0.03 point to relatively muted realized volatility, while ten‑ and fifty‑day average volumes sit below the 200‑day average, suggesting weaker conviction behind directional moves.
Fundamental Analysis
Total revenue $184.56M with YoY revenue growth of 8.23% and a sizable QoQ increase (57.36%) that reflects recent operational pickup; gross margin at 39.15% expanded YoY by 26.73 percentage points, supporting improved unit economics.
Operating margin sits at -2.96% and EBIT at -$5.46M. Operating margin improved YoY by 36.02 percentage points but declined QoQ by 41.39%; the operating margin remains well below the industry peer mean of 27.30% and the industry peer median of 18.66%, though above the industry peer low of -25.54%.
Reported EPS came in at $0.12 versus an estimate of -$0.09, an EPS surprise of approximately 233.33%, indicating near‑term earnings outperformance relative to expectations despite GAAP operating losses.
Cash and near‑cash holdings total $326.38M, producing a cash ratio of 1.36 and current ratio of 2.85, which provide a meaningful liquidity buffer against operating shortfalls. Total debt remains modest at $46.58M, with debt to assets around 5.74% and debt to equity 9.19%.
Free cash flow registered negative $17.09M and free cash flow yield stands at -1.98%, indicating cash conversion lag despite positive gross margins and a cash conversion ratio of 41.68%. Operating cash flow was negative $7.382M, and net income showed a slight GAAP loss of $4.777M for the period.
Return on equity and return on assets remain negative at -0.94% and -0.59% respectively, reflecting ongoing profitability recovery needs even as revenue and gross margin trends improve.
The current valuation as determined by WMDST: over‑valued. That view reflects an elevated trailing P/E (253.06x) alongside negative GAAP operating results and negative free cash flow, offset partially by strong gross margin expansion and a robust cash position.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-09-30 |
| REPORT DATE: | 2025-10-29 |
| NEXT REPORT DATE: | 2026-01-28 |
| CASH FLOW | Begin Period Cash Flow | $ 241.0 M |
| Operating Cash Flow | $ -7.38 M | |
| Capital Expenditures | $ -9.70 M | |
| Change In Working Capital | $ -13.67 M | |
| Dividends Paid | — | |
| Cash Flow Delta | $ -37.54 M | |
| End Period Cash Flow | $ 203.5 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 184.6 M | |
| Forward Revenue | $ -17.14 M | |
| COSTS | ||
| Cost Of Revenue | $ 112.3 M | |
| Depreciation | $ 1.8 M | |
| Depreciation and Amortization | $ 1.8 M | |
| Research and Development | $ 23.3 M | |
| Total Operating Expenses | $ 190.0 M | |
| PROFITABILITY | ||
| Gross Profit | $ 72.3 M | |
| EBITDA | $ -3.64 M | |
| EBIT | $ -5.46 M | |
| Operating Income | $ -5.46 M | |
| Interest Income | — | |
| Interest Expense | — | |
| Net Interest Income | — | |
| Income Before Tax | $ -4.04 M | |
| Tax Provision | $ 736.0 K | |
| Tax Rate | 21.0 % | |
| Net Income | $ -4.78 M | |
| Net Income From Continuing Operations | $ -4.78 M | |
| EARNINGS | ||
| EPS Estimate | $ -0.09 | |
| EPS Actual | $ 0.12 | |
| EPS Difference | $ 0.21 | |
| EPS Surprise | 233.333 % | |
| Forward EPS | $ 0.06 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 810.8 M | |
| Intangible Assets | $ 49.9 M | |
| Net Tangible Assets | $ 457.0 M | |
| Total Current Assets | $ 681.9 M | |
| Cash and Short-Term Investments | $ 326.4 M | |
| Cash | $ 203.5 M | |
| Net Receivables | $ 159.9 M | |
| Inventory | $ 166.6 M | |
| Long-Term Investments | $ 5.9 M | |
| LIABILITIES | ||
| Accounts Payable | $ 58.2 M | |
| Short-Term Debt | — | |
| Total Current Liabilities | $ 239.2 M | |
| Net Debt | — | |
| Total Debt | $ 46.6 M | |
| Total Liabilities | $ 304.0 M | |
| EQUITY | ||
| Total Equity | $ 506.8 M | |
| Retained Earnings | $ -521.14 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 17.86 | |
| Shares Outstanding | 28.385 M | |
| Revenue Per-Share | $ 6.50 | |
| VALUATION | Market Capitalization | $ 862.0 M |
| Enterprise Value | $ 582.2 M | |
| Enterprise Multiple | -159.981 | |
| Enterprise Multiple QoQ | 159.105 % | |
| Enterprise Multiple YoY | 132.229 % | |
| Enterprise Multiple IPRWA | high: 162.207 median: 68.592 mean: 67.447 low: -11.362 NTGR: -159.981 |
|
| EV/R | 3.154 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 1.6 | |
| Asset To Liability | 2.667 | |
| Debt To Capital | 0.084 | |
| Debt To Assets | 0.057 | |
| Debt To Assets QoQ | 79.388 % | |
| Debt To Assets YoY | 329.619 % | |
| Debt To Assets IPRWA | high: 0.533 median: 0.228 mean: 0.217 NTGR: 0.057 low: 0.024 |
|
| Debt To Equity | 0.092 | |
| Debt To Equity QoQ | 86.844 % | |
| Debt To Equity YoY | 338.616 % | |
| Debt To Equity IPRWA | high: 1.722 median: 0.569 mean: 0.557 NTGR: 0.092 low: 0.034 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 1.701 | |
| Price To Book QoQ | 15.592 % | |
| Price To Book YoY | 73.31 % | |
| Price To Book IPRWA | high: 21.237 mean: 7.636 median: 5.604 NTGR: 1.701 low: -1.369 |
|
| Price To Earnings (P/E) | 253.061 | |
| Price To Earnings QoQ | -45.266 % | |
| Price To Earnings YoY | 129.175 % | |
| Price To Earnings IPRWA | high: 260.287 NTGR: 253.061 mean: 109.897 median: 55.548 low: -73.826 |
|
| PE/G Ratio | 2.531 | |
| Price To Sales (P/S) | 4.67 | |
| Price To Sales QoQ | 3.476 % | |
| Price To Sales YoY | 58.141 % | |
| Price To Sales IPRWA | high: 53.135 median: 17.892 mean: 17.65 NTGR: 4.67 low: 0.045 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | -104.15 | |
| Forward PE/G | -1.042 | |
| Forward P/S | 11.864 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | -4.445 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.229 | |
| Asset Turnover Ratio QoQ | 8.452 % | |
| Asset Turnover Ratio YoY | 1.083 % | |
| Asset Turnover Ratio IPRWA | high: 0.543 NTGR: 0.229 mean: 0.158 median: 0.126 low: 0.057 |
|
| Receivables Turnover | 1.211 | |
| Receivables Turnover Ratio QoQ | 2.127 % | |
| Receivables Turnover Ratio YoY | 7.44 % | |
| Receivables Turnover Ratio IPRWA | high: 5.092 mean: 2.002 median: 1.778 NTGR: 1.211 low: 0.595 |
|
| Inventory Turnover | 0.694 | |
| Inventory Turnover Ratio QoQ | 2.581 % | |
| Inventory Turnover Ratio YoY | -3.706 % | |
| Inventory Turnover Ratio IPRWA | high: 3.69 mean: 1.167 median: 1.079 NTGR: 0.694 low: 0.006 |
|
| Days Sales Outstanding (DSO) | 75.337 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 163.868 | |
| Cash Conversion Cycle Days QoQ | -0.053 % | |
| Cash Conversion Cycle Days YoY | -12.029 % | |
| Cash Conversion Cycle Days IPRWA | high: 366.812 NTGR: 163.868 mean: 116.56 median: 52.2 low: -92.54 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 0.417 | |
| CapEx To Revenue | -0.053 | |
| CapEx To Depreciation | -5.338 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 506.8 M | |
| Net Invested Capital | $ 506.8 M | |
| Invested Capital | $ 506.8 M | |
| Net Tangible Assets | $ 457.0 M | |
| Net Working Capital | $ 442.8 M | |
| LIQUIDITY | ||
| Cash Ratio | 1.365 | |
| Current Ratio | 2.851 | |
| Current Ratio QoQ | -0.768 % | |
| Current Ratio YoY | 0.575 % | |
| Current Ratio IPRWA | high: 5.423 NTGR: 2.851 mean: 1.841 median: 1.171 low: 0.722 |
|
| Quick Ratio | 2.155 | |
| Quick Ratio QoQ | -3.213 % | |
| Quick Ratio YoY | -3.719 % | |
| Quick Ratio IPRWA | high: 4.274 NTGR: 2.155 mean: 1.513 median: 0.908 low: 0.497 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | -12.799 | |
| Cost Of Debt | 3.072 % | |
| Interest Coverage Ratio | -3.881 | |
| Interest Coverage Ratio QoQ | -36.569 % | |
| Interest Coverage Ratio YoY | 37.283 % | |
| Interest Coverage Ratio IPRWA | high: 82.251 mean: 21.716 median: 8.583 NTGR: -3.881 low: -72.333 |
|
| Operating Cash Flow Ratio | -0.117 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 50.144 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 0.903 % | |
| Revenue Growth | 8.227 % | |
| Revenue Growth QoQ | 57.364 % | |
| Revenue Growth YoY | -69.608 % | |
| Revenue Growth IPRWA | high: 44.897 % NTGR: 8.227 % mean: 4.263 % median: 3.703 % low: -31.668 % |
|
| Earnings Growth | 100.0 % | |
| Earnings Growth QoQ | -50.0 % | |
| Earnings Growth YoY | -181.319 % | |
| Earnings Growth IPRWA | high: 125.0 % NTGR: 100.0 % mean: 10.678 % median: 2.857 % low: -78.571 % |
|
| MARGINS | ||
| Gross Margin | 39.148 % | |
| Gross Margin QoQ | 4.347 % | |
| Gross Margin YoY | 26.734 % | |
| Gross Margin IPRWA | high: 88.028 % median: 60.607 % mean: 57.545 % NTGR: 39.148 % low: 6.723 % |
|
| EBIT Margin | -2.957 % | |
| EBIT Margin QoQ | -41.388 % | |
| EBIT Margin YoY | 36.017 % | |
| EBIT Margin IPRWA | high: 52.219 % mean: 27.303 % median: 18.66 % NTGR: -2.957 % low: -25.54 % |
|
| Return On Sales (ROS) | -2.957 % | |
| Return On Sales QoQ | -41.388 % | |
| Return On Sales YoY | 36.017 % | |
| Return On Sales IPRWA | high: 46.033 % mean: 26.455 % median: 18.046 % NTGR: -2.957 % low: -26.82 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ -17.09 M | |
| Free Cash Flow Yield | -1.982 % | |
| Free Cash Flow Yield QoQ | 187.663 % | |
| Free Cash Flow Yield YoY | -110.098 % | |
| Free Cash Flow Yield IPRWA | high: 7.425 % median: 1.53 % mean: 1.331 % NTGR: -1.982 % low: -8.162 % |
|
| Free Cash Growth | 222.256 % | |
| Free Cash Growth QoQ | -565.575 % | |
| Free Cash Growth YoY | -60.084 % | |
| Free Cash Growth IPRWA | high: 387.5 % NTGR: 222.256 % mean: 27.706 % median: 5.822 % low: -263.379 % |
|
| Free Cash To Net Income | 3.577 | |
| Cash Flow Margin | -15.13 % | |
| Cash Flow To Earnings | 5.846 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.04 | |
| Return On Assets (ROA) | -0.592 % | |
| Return On Assets QoQ | -25.535 % | |
| Return On Assets YoY | -105.625 % | |
| Return On Assets IPRWA | high: 4.933 % mean: 2.807 % median: 1.696 % NTGR: -0.592 % low: -12.459 % |
|
| Return On Capital Employed (ROCE) | -0.955 % | |
| Return On Equity (ROE) | -0.009 | |
| Return On Equity QoQ | -23.352 % | |
| Return On Equity YoY | -106.094 % | |
| Return On Equity IPRWA | high: 0.251 mean: 0.067 median: 0.021 NTGR: -0.009 low: -0.186 |
|
| DuPont ROE | -0.927 % | |
| Return On Invested Capital (ROIC) | -0.851 % | |
| Return On Invested Capital QoQ | -34.488 % | |
| Return On Invested Capital YoY | -195.941 % | |
| Return On Invested Capital IPRWA | high: 8.517 % mean: 4.427 % median: 3.009 % NTGR: -0.851 % low: -7.355 % |
|