$140.49
24.8% vs S&P 12m
Business overview
High-performance Ethernet switching leader with strong design-in at Meta, Microsoft, and growing AI back-end fabric share.
Largest beneficiary of Ethernet-as-AI-fabric thesis; Etherlink wins at Meta/MS could be a multi-year tailwind vs. proprietary NVLink.
Products
- 7800R3 / 7060X switches
- EOS software
- Etherlink AI fabric
Competitors (3)
- Cisco
- Juniper
- NVIDIA Spectrum-X
Composite score
Higher = stronger overall research case
Fundamental86
Technical67
Valuation73
AI relevance82
Risk-adjusted (higher = safer)46
Segment-relative fundamental percentile: 100
Synthetic 1Y price action
Deterministic price series; 50d (yellow) and 200d (orange) MAs shown
3M RS: -5.9%6M RS: -1.0%12M RS: 24.8%Vol30d: 60%DD52w: -21.0%
Financial summary
Curated, illustrative
Revenue
$9.71B
Growth (YoY)
35.1%
Gross margin
63.5%
Operating margin
42.7%
FCF
$4.36B
Capex
$1.06B
Net cash / (debt)
$12.35B
ROIC
14.4%
Customer conc.
Medium
Valuation
Market cap
$176.90B
Enterprise value
$164.55B
P/E (TTM)
48.3x
Forward P/E
31.6x
EV / Sales
16.9x
EV / EBITDA
38.8x
P / FCF
40.6x
PEG
1.8x
Rule of 40
—
Risks
Severity 1 (low) to 5 (severe)
- 4Customer concentration on Meta + MSFT (~40%)
- 3NVIDIA Spectrum-X share take
- 4Premium valuation
Score components
What drove the composite
Growth91
Profitability95
Cash generation99
Balance sheet98
Moat / AI relevance88
Capital intensity (higher = lighter)58
Customer diversification60
Valuation discipline (dilution)65
Trend (MA50/MA200)71
Momentum (3/6/12m)57
Relative strength92
Realized vol (higher = lower vol)33
Segment peers
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