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CRNT

CERAGON NETWORKS LTD
CIK 0001119769 ยท EDGAR โ†—
cleanelevatedtriggeredno dataplanned
8.0
composite ยท 4 signals ยท CLEAN

Every card below shows the score and the exact filing data it was computed from โ€” no unexplained numbers. Some signals (P-02, P-03, P-08, P-09, P-10, P-11) pull live documents from SEC EDGAR the first time you view this company; a few of those (P-03, P-10, P-11) use AI to read the filing text, but every AI claim must quote the actual document verbatim or it's discarded โ€” never a guess.

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Signals

P-01 ยท FY 2025-12-31 ยท CLEAN9.5

Earnings quality

Beneish M-Score -3.17 โ€” no manipulation profile
trend: flat
Trend
Source: 20-F on SEC.gov (filed 2026-04-15) โ†—
Evidence โ€” inputs and thresholds
{
  "m_score": -3.168,
  "threshold": -1.78,
  "ratios": {
    "DSRI": 0.775,
    "GMI": 1.027,
    "AQI": 1.196,
    "SGI": 0.859,
    "DEPI": 1.028,
    "SGAI": 1,
    "LVGI": 0.864,
    "TATA": -0.106
  },
  "defaulted_to_neutral": [
    "SGAI"
  ],
  "sloan_accruals": -0.1016,
  "inputs": {
    "revenue_t": 338728000,
    "revenue_t1": 394190000,
    "total_assets_t": 317042000,
    "net_income_t": -2090000,
    "cfo_t": 31556000
  },
  "stale": false,
  "latest_filing_period": "2025-12-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/1119769/000117891326002118/0001178913-26-002118-index.htm",
    "form": "20-F",
    "filed": "2026-04-15"
  }
}
P-05 ยท FY 2025-12-31 ยท CLEAN0.0

Tax arbitrage

ETR 395.2% โ€” within normal range of statutory
trend: flat
Trend
Source: 20-F on SEC.gov (filed 2026-04-15) โ†—
Evidence โ€” inputs and thresholds
{
  "etr_by_year": {
    "2025-12-31": 3.952,
    "2024-12-31": 0.1171,
    "2023-12-31": 0.5119
  },
  "statutory_rate": 0.21,
  "gap_by_year": {
    "2025-12-31": -3.742,
    "2024-12-31": 0.0929,
    "2023-12-31": -0.3019
  },
  "note": "Low ETR can be fully legitimate; this flags persistence + magnitude for review.",
  "stale": false,
  "latest_filing_period": "2025-12-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/1119769/000117891326002118/0001178913-26-002118-index.htm",
    "form": "20-F",
    "filed": "2026-04-15"
  }
}
P-12 ยท FY 2025-12-31 ยท CLEAN10.1

Restatement predictor

F-Score 0.30 โ€” at or below the population base rate
trend: flat
Trend
Source: 20-F on SEC.gov (filed 2026-04-15) โ†—
Evidence โ€” inputs and thresholds
{
  "f_score": 0.304,
  "probability": 0.00113,
  "components": {
    "rsst": -0.1016,
    "drec": -0.1509,
    "dinv": 0.0057,
    "soft": 0.753,
    "dcs": -0.014,
    "droa": -0.0763,
    "issue": 0
  },
  "model": "Dechow et al. 2011, Model 1 (simplified RSST)",
  "thresholds": {
    "elevated": 1,
    "triggered": 1.85
  },
  "stale": false,
  "latest_filing_period": "2025-12-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/1119769/000117891326002118/0001178913-26-002118-index.htm",
    "form": "20-F",
    "filed": "2026-04-15"
  }
}
P-13 ยท FY 2025-12-31 ยท CLEAN0.0

Zombie / distress

Interest coverage 1.44x โ€” servicing debt from operations
trend: flat
Trend
Source: 20-F on SEC.gov (filed 2026-04-15) โ†—
Evidence โ€” inputs and thresholds
{
  "icr_by_year": {
    "2025-12-31": 1.439,
    "2024-12-31": 6.483,
    "2023-12-31": 2.814,
    "2022-12-31": -2.18
  },
  "consecutive_years_below_1": 0,
  "altman_z_double_prime": 1.231,
  "definitions": {
    "zombie": "ICR<1 for 3+ consecutive FYs (BIS 2018)",
    "z_distress": "<1.1 distress, 1.1-2.6 gray, >2.6 safe"
  },
  "inputs": {
    "ebit_t": 7246000,
    "interest_expense_t": 5034000
  },
  "stale": false,
  "latest_filing_period": "2025-12-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/1119769/000117891326002118/0001178913-26-002118-index.htm",
    "form": "20-F",
    "filed": "2026-04-15"
  }
}