Radware Ltd., together with its subsidiaries, develops, manufactures, and markets cyber security and application delivery solutions for cloud, on-premises, and software defined data centers.
FAIL · Does not pass the screen
30.18 USD
Price as of 5 Nov 2026Daily close, not a live quote
Screened 2026-11-05 · the tape above runs as of 06:01 UTC · two dates, stated on purpose · verdict and workings shown in full · never trimmed
Key facts today
Price30.18 USD at the 5 Nov 2026 close
Our value readUndervalued vs our fair value, as of 5 Nov 2026
Positioning no disclosures inside 60 days, left as found
Options put/call open interest 0.02, read 2026-11-03
Ethical does not pass the values gate
Price30.18 USD
Fair value39.12
Ethical score70.0/100
Value readUndervaluedas of 5 Nov 2026
Our investment reviews on this name
2026-10-29Read Markup31.07-2.9% to today Distribution gives way to Markup first Markup read since October
2026-10-15Read Distribution30.98-2.6% to today ✓Markup gives way to Distribution after a 6% rise in 13 days
2026-10-02Read Markup29.13+3.6% to today ✓Distribution gives way to Markup first Markup read since July
2026-08-11Read Distribution30.29-0.4% to today ✓Markup gives way to Distribution after a 7% rise in 6 weeks
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Radware Ltd. holds its Markup at $30.18. The statistical read favours the sellers, held for 3 days.
As held on the ledger · 2026-11-05
Phase
Markup
Quantitative state
The statistical read favours the sellers, held for 3 days
Price at the screen
$30.18
Valuation
64.21 trailing · 21.35 forward price to earnings
Values screen
FAIL· score 70.0
Beta
0.81
The Workings
Five Screens, Shown in Full
Does not pass. Revenue purity
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
2.54%
Below 33%
Interest-bearing debt is just 2.5% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
30.29%
Below 33%
Cash held in interest-bearing accounts and securities is 30.3% of assets, under the one-third limit.
Pass
Receivables
20.87%
Below 49%
Money owed to the company is 20.9% of assets, under the 49% limit.
Pass
Revenue purity
7.10%
Below 5%
7.1% of revenue comes from non-compliant sources, over the 5% line.
Fail
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Falls Short, in Plain English
Radware clears the business-activity screen, and its debt is inside the line. Where it falls short is income purity: around 7% of its income right now is interest earned on a large cash position, against a roughly 5% ceiling, so it does not pass. That reflects what it earns today, not the business itself, and it could clear the screen if its operating revenue grows and the interest share falls.
Read as at 2026-11-05. It updates when the underlying figures move, and past reads are kept below.
Follow this verdict
Get an email when RDWR's ethical verdict changes
Today RDWR does not pass the screen. If new figures move it to a pass, we send you one short email with the before and after. Verdicts change rarely, so you may not hear from us for a long time.
Free, no account needed. Every email has a link to stop.
Conscience flag · Boycott-Israel.org A Simple Boycott List
The quantitative screen above is arithmetic. Separately, community boycott lists cite this company: Documented on Boycott-Israel.org A Simple Boycott List. The desk records that flag here without folding it into the verdict: the screen measures the balance sheet, the overlay informs the conscience, and they are different judgements that belong to different owners. The second one is yours.
What the Numbers Say It Is Worth
The Fair Value Range
Our analysis reads Undervalued vs our fair value, as of 5 Nov 2026: it trades at roughly a 23% discount to our $39.12 fair value, 12.00% revenue growth.
Fair value range in USD, drawn from the 2026-11-05 screen. The gold marker is the market price at the same screen. A 22.9% discount to the base estimate.
Where our models see it going: fair-value estimate $39.12, with a range of $36.00 to $45.93, dated to the 2026-11-05 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Cybersecurity tools that fail to deliver punch
Picture a company selling the digital locks and load balancers that keep websites running when traffic spikes or attackers strike. Radware sits in that market yet shows only 11% revenue growth, a 6% profit margin and 5% return on equity. With a forward multiple of 23 times and barely any margin of safety above fair value, the numbers give no reason to step in.
The ethical screen is cleared, which rules out obvious red flags on governance or product misuse. Still the business offers no visible moat, analyst coverage is thin and the consensus target sits almost on top of the current price. Opportunity rating stays at none because nothing here beats the hurdle for a conviction buy.
Competition in application security is fierce and low returns leave little room for error if growth slows further. Currency moves and customer concentration add extra volatility that the thin balance sheet does little to cushion. Analysis, not advice.
Another profit measure, before interest, tax and non-cash costs: EBITDA.
The risks · The things to watch: it's a small-cap, so the share price can swing harder than the market; its business and earnings are exposed to Israel and to currency swings; it carries a real debt load, which raises the stakes if revenue slips.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
RDWR trades on Nasdaq (the company is based in Israel). As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-11-05Markup$33.00+6.2%Entry 10
The analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 6.2% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 17% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 17%. Our forward projection puts the odds of a 10% gain over the next month near 27%. The street (2 analysts) rates it none, with a mean price target of $31. Insiders have been net sellers over the past quarter. Since the last review it entered the Titan Ethical 500.
2026-10-29Markup · changed$31.07+8.2%Entry 9
The framework has shifted from distribution to markup since the last review. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 8.2% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 17% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 17%. Our forward projection puts the odds of a 10% gain over the next month near 27%. The street (2 analysts) rates it none, with a mean price target of $31.
2026-10-22Distribution$28.72-7.3%Entry 8
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 7.3% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is holding around 9% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 17%. Our forward projection puts the odds of a 10% gain over the next month near 27%. The street (2 analysts) rates it none, with a mean price target of $31.
The framework has shifted from markup to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved up 6.4% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 16% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 17%. Our forward projection puts the odds of a 10% gain over the next month near 27%. The street (2 analysts) rates it none, with a mean price target of $31.
2026-10-02Markup · changed$29.13-1.5%Entry 6
The framework has shifted from distribution to markup since the last review. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 1.5% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 16% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 17%. Our forward projection puts the odds of a 10% gain over the next month near 27%. The street (2 analysts) rates it none, with a mean price target of $31.
2026-09-11Distribution$29.57-2.4%Entry 5
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 2.4% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 16% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 17%. Our forward projection puts the odds of a 10% gain over the next month near 27%. The street (2 analysts) rates it none, with a mean price target of $31.
The framework has shifted from markup to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved up 7.3% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 16% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 17%. Our forward projection puts the odds of a 10% gain over the next month near 27%. The street (2 analysts) rates it none, with a mean price target of $31.
2026-07-18Markup$28.23+0.0%Entry 3
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 16% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 17%. Our forward projection puts the odds of a 10% gain over the next month near 27%. The street (2 analysts) rates it none, with a mean price target of $31.
2026-07-03Markup$28.23+0.0%Entry 2
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows good risk-adjusted returns.
2026-07-02Markup$28.23Entry 1
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows good risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
