Bandwidth Inc. (BAND) Key Metrics
BAND valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $1.39B
- Enterprise value
- $2.28B
- P/E (TTM)
- — 10-yr median 52.2
- Forward P/E
- 23.0
- PEG ratio
- —
- Price / sales
- 1.7 10-yr median 2.1
- Price / book
- 5.0 10-yr median 4.4
- EV / EBITDA
- 38.1 10-yr median 32.0
- Dividend yield
- —
- Beta
- 3.01
BAND key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsBAND valuation Price multiples at each fiscal year-end price.
Price / sales−0.6%
0.6
2025 · hover or tap a bar for each year
20162025
Price / book−21.8%
1.2
2025 · hover or tap a bar for each year
20162025
EV / EBITDA+28.2%
26.9
2025 · hover or tap a bar for each year
20162025
Price / free cash flow+4.0%
6.9
2025 · hover or tap a bar for each year
20162025
Free cash flow yield−0.6 pts
14.5%
2025 · hover or tap a bar for each year
20162025
BAND returns How much profit the business earns on the capital it uses.
Return on equity−1.5 pts
−3.6%
2025 · hover or tap a bar for each year
20162025
Return on invested capital+0.8 pts
−1.3%
2025 · hover or tap a bar for each year
20162025
Return on assets−0.6 pts
−1.2%
2025 · hover or tap a bar for each year
20162025
Free cash flow margin−0.4 pts
8.9%
2025 · hover or tap a bar for each year
20162025
Asset turnover−0.2%
0.71
2025 · hover or tap a bar for each year
20162025
BAND per-share figures Results divided by the shares outstanding at year-end.
Revenue per share−8.6%
$25.13
2025 · hover or tap a bar for each year
20162025
Earnings per share
−$0.43
2025 · hover or tap a bar for each year
20162025
Free cash flow per share−12.8%
$2.24
2025 · hover or tap a bar for each year
20162025
Book value per share+16.1%
$13.33
2025 · hover or tap a bar for each year
20162025
Shares outstanding+10.2%
30.0M
2025 · hover or tap a bar for each year
20162025
BAND financial health Debt, liquidity and how easily interest is covered.
Debt / equity+8.8%
1.75
2025 · hover or tap a bar for each year
20162025
Net debt+$169.7M
$589.5M
2025 · hover or tap a bar for each year
20162025
Net debt / EBITDA+5.08
15.04
2025 · hover or tap a bar for each year
20162025
Current ratio+3.9%
1.39
2025 · hover or tap a bar for each year
20162025
Interest coverage
-7.1
2025 · hover or tap a bar for each year
20162025
Debt / assets+23.0%
0.63
2025 · hover or tap a bar for each year
20162025
BAND efficiency & capital use Working capital cycle and where the cash goes.
Days sales outstanding+3 days
43 days
2025 · hover or tap a bar for each year
20162025
Days payables outstanding+4 days
28 days
2025 · hover or tap a bar for each year
20162025
Cash conversion cycle−1 days
15 days
2025 · hover or tap a bar for each year
20162025
Capex / revenue+1.1 pts
3.0%
2025 · hover or tap a bar for each year
20162025
BAND valuation history
Fiscal year-endToday10-year median
BAND returns on capital
ROEROICROA
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
BAND debt vs cash
Total debtCash & short-term investments
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
BAND cash returned to shareholders
DividendsBuybacksFree cash flow
BAND price vs earnings per share
Share price at year-endEPS (right axis)
BAND key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $463.5M | $463.1M | $370.6M | $709.3M | $1.80B | $3.70B | $1.53B | $861.5M | $336.2M | — |
| Enterprise value | $1.05B | $882.9M | $861.7M | $1.02B | $1.97B | $3.90B | $1.37B | $807.6M | $298.7M | — |
| P/E ratio | — | — | — | 36.2 | — | — | 614.4 | 48.1 | 56.3 | — |
| Price / sales | 0.6 | 0.6 | 0.6 | 1.2 | 3.7 | 10.8 | 6.6 | 4.2 | 2.1 | — |
| Price / book | 1.2 | 1.5 | 1.2 | 2.6 | 4.4 | 8.6 | 5.7 | 7.9 | 4.4 | — |
| Price / free cash flow | 6.9 | 6.6 | 19.4 | — | — | — | — | 84.6 | 50.5 | — |
| Price / operating cash flow | 5.2 | 5.5 | 9.5 | 20.3 | 44.1 | 819.5 | — | 35.0 | 23.0 | — |
| EV / sales | 1.4 | 1.2 | 1.4 | 1.8 | 4.0 | 11.4 | 5.9 | 4.0 | 1.8 | — |
| EV / EBITDA | 26.9 | 20.9 | 37.1 | 18.2 | 49.5 | 480.3 | — | 64.2 | 14.7 | — |
| EV / free cash flow | 15.7 | 12.6 | 45.1 | — | — | — | — | 79.3 | 44.9 | — |
| Earnings yield | −2.8% | −1.4% | −4.4% | 2.8% | −1.5% | −1.2% | 0.2% | 2.1% | 1.8% | — |
| Free cash flow yield | 14.5% | 15.1% | 5.2% | −4.1% | −0.8% | −0.3% | −1.8% | 1.2% | 2.0% | — |
| Dividend yield | — | — | — | 0.3% | 1.4% | 1.1% | — | 0.0% | 0.0% | — |
| Shareholder yield (dividends + buybacks) | — | — | 0.3% | 0.6% | 2.8% | 1.1% | 0.1% | 0.0% | 0.0% | — |
| Share price at fiscal year-end | $15.45 | $17.02 | $14.47 | $22.95 | $71.76 | $153.67 | $64.05 | $40.75 | $23.12 | — |
| Per share | ||||||||||
| Revenue per share | $25.13 | $27.51 | $23.47 | $18.54 | $19.57 | $14.24 | $9.72 | $9.66 | $11.20 | $10.44 |
| Earnings per share | −$0.43 | −$0.24 | −$0.64 | $0.63 | −$1.09 | −$1.83 | $0.10 | $0.85 | $0.41 | $1.53 |
| Operating cash flow per share | $2.98 | $3.08 | $1.52 | $1.13 | $1.63 | $0.19 | −$0.05 | $1.17 | $1.01 | $0.35 |
| Free cash flow per share | $2.24 | $2.57 | $0.75 | −$0.94 | −$0.55 | −$0.42 | −$1.13 | $0.48 | $0.46 | −$0.06 |
| Cash per share | $3.72 | $3.08 | $5.99 | $5.98 | $13.21 | $4.66 | $7.73 | $2.77 | $2.59 | $0.47 |
| Book value per share | $13.33 | $11.49 | $11.61 | $8.81 | $16.44 | $17.84 | $11.29 | $5.15 | $5.27 | −$0.04 |
| Tangible book value per share | −$3.19 | −$5.52 | −$8.02 | −$7.49 | −$5.70 | −$7.90 | $10.73 | $4.48 | $4.28 | −$1.09 |
| Dividends per share | — | — | — | $0.06 | $0.98 | $1.63 | — | $0.00 | $0.00 | $2.06 |
| Capex per share | $0.74 | $0.51 | $0.78 | $2.07 | $2.18 | $0.61 | $1.08 | $0.68 | $0.55 | $0.42 |
| Debt per share | $23.37 | $18.51 | $25.16 | $15.94 | $20.06 | $12.66 | $1.03 | $0.22 | $0.01 | $3.08 |
| Shares outstanding | 30.0M | 27.2M | 25.6M | 30.9M | 25.1M | 24.1M | 23.9M | 21.1M | 14.5M | 14.6M |
| Change in shares outstanding | +10.2% | +6.2% | −17.1% | +23.2% | +4.1% | +0.7% | +13.2% | +45.4% | −0.2% | 0.0% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | −3.6% | −2.1% | −5.7% | 5.7% | −6.5% | −12.6% | 1.3% | 19.3% | 15.7% | — |
| Return on invested capital (ROIC) | −1.3% | −2.1% | −4.1% | −4.2% | −0.3% | −2.9% | −17.0% | 14.4% | 19.1% | 64.4% |
| Return on assets (ROA) | −1.2% | −0.6% | −1.6% | 2.0% | −2.8% | −7.1% | 1.0% | 14.1% | 6.8% | 33.6% |
| Return on tangible assets | −2.1% | −1.2% | −2.7% | 4.6% | −5.4% | −16.3% | 0.7% | 13.1% | 6.6% | 40.9% |
| Free cash flow margin | 8.9% | 9.3% | 3.2% | −5.1% | −2.8% | −2.9% | −11.6% | 5.0% | 4.1% | −0.6% |
| Income quality (OCF / net income) | — | — | — | 1.78 | — | — | −0.50 | 1.37 | 2.45 | 0.23 |
| Financial health | ||||||||||
| Total debt | $701.2M | $503.6M | $644.5M | $492.6M | $503.2M | $304.9M | $24.7M | $4.7M | $92,000 | $44.8M |
| Cash & short-term investments | $111.6M | $83.8M | $153.5M | $184.9M | $331.5M | $112.2M | $185.0M | $58.7M | $37.6M | $6.8M |
| Net debt | $589.5M | $419.8M | $491.1M | $307.8M | $171.8M | $192.8M | −$160.3M | −$53.9M | −$37.5M | $38.1M |
| Debt / equity | 1.75 | 1.61 | 2.17 | 1.81 | 1.22 | 0.71 | 0.09 | 0.04 | 0.00 | — |
| Debt / assets | 0.63 | 0.51 | 0.59 | 0.53 | 0.47 | 0.34 | 0.07 | 0.03 | 0.00 | 0.64 |
| Net debt / EBITDA | 15.04 | 9.96 | 21.15 | 5.50 | 4.31 | 23.77 | — | −4.29 | −1.85 | 1.78 |
| Current ratio | 1.39 | 1.34 | 2.06 | 2.45 | 4.42 | 2.10 | 4.91 | 2.79 | 2.66 | 0.92 |
| Quick ratio | 1.39 | 1.34 | 2.06 | 2.41 | 4.42 | 2.53 | 4.91 | 2.79 | 2.66 | 0.92 |
| Interest coverage | -7.1 | -10.8 | -43.9 | -8.0 | -0.1 | -0.8 | -7.2 | 22.4 | 8.5 | 16.8 |
| Working capital | $60.2M | $47.5M | $130.0M | $165.6M | $319.4M | $101.4M | $178.6M | $58.7M | $40.7M | −$2.4M |
| Invested capital | $989.5M | $732.3M | $788.5M | $579.9M | $584.3M | $622.7M | $109.8M | $54.9M | $39.2M | $37.5M |
| Tangible asset value | −$95.5M | −$150.1M | −$205.4M | −$231.6M | −$143.0M | −$190.4M | $256.7M | $94.8M | $62.2M | −$15.9M |
| Net current asset value | −$505.9M | −$488.8M | −$550.9M | −$377.5M | −$240.1M | −$267.1M | $141.0M | $49.8M | $37.5M | −$42.5M |
| Graham number | — | — | — | $11.20 | — | — | $5.15 | $9.91 | $6.98 | — |
| Graham net-net per share | −$18.00 | −$19.40 | −$23.10 | −$13.40 | −$10.97 | −$13.58 | $5.19 | $1.66 | $1.77 | −$3.51 |
| Capital allocation | ||||||||||
| Dividends paid | — | — | — | $2.0M | $24.6M | $39.2M | — | $0 | $0 | $30.0M |
| Share buybacks (net) | — | — | $1.1M | $2.1M | $25.5M | $1.8M | $1.4M | $0 | $0 | $0 |
| Dividend payout ratio | — | — | — | 10.1% | — | — | — | 0.0% | 0.0% | 134.2% |
| Dividends + buybacks / free cash flow | — | — | 5.6% | — | — | — | — | 0.0% | 0.0% | — |
| Capex / revenue | 3.0% | 1.9% | 3.3% | 11.2% | 11.1% | 4.3% | 11.1% | 7.1% | 4.9% | 4.0% |
| Capex / operating cash flow | 24.9% | 16.7% | 51.0% | 183.6% | 133.9% | 323.0% | — | 58.6% | 54.5% | 117.6% |
| Capex / depreciation | 0.41 | 0.28 | 0.48 | 1.80 | 1.29 | 0.68 | 1.87 | 2.48 | 1.39 | 0.99 |
| Stock-based compensation / revenue | 6.9% | 6.5% | 6.2% | 3.6% | 3.0% | 2.9% | 2.8% | 1.6% | 1.1% | 0.9% |
| R&D / revenue | 17.6% | 15.8% | 17.3% | 17.1% | 11.2% | 12.3% | 13.5% | 10.2% | 6.6% | 5.6% |
| SG&A / revenue | 23.5% | 24.2% | 27.9% | 28.7% | 33.7% | 37.7% | 40.4% | 33.5% | 29.6% | 28.4% |
| Efficiency | ||||||||||
| Days sales outstanding | 43.1 | 40.1 | 46.3 | 43.3 | 43.4 | 45.4 | 42.5 | 40.4 | 42.6 | 35.5 |
| Days of inventory on hand | — | — | — | 5.0 | — | -78.8 | — | 0.0 | — | 0.0 |
| Days payables outstanding | 28.2 | 24.4 | 30.5 | 19.6 | 13.9 | 15.6 | 11.1 | 10.9 | 15.8 | 19.6 |
| Cash conversion cycle (days) | 14.8 | 15.8 | 15.9 | 28.7 | 29.5 | -49.0 | 31.4 | 29.6 | 26.9 | 16.0 |
| Receivables turnover | 8.48 | 9.09 | 7.88 | 8.43 | 8.40 | 8.03 | 8.58 | 9.02 | 8.56 | 10.27 |
| Payables turnover | 12.93 | 14.98 | 11.97 | 18.66 | 26.18 | 23.37 | 32.85 | 33.57 | 23.15 | 18.66 |
| Inventory turnover | — | — | — | 73.63 | — | — | — | 216,290,000.00 | — | 85,218,000.00 |
| Asset turnover | 0.71 | 0.72 | 0.59 | 0.57 | 0.50 | 0.55 | 0.92 | 1.60 | 1.87 | 2.29 |
| Average receivables | $88.9M | $82.3M | $76.3M | $68.0M | $58.4M | $42.7M | $27.1M | $22.6M | $19.0M | $14.8M |
| Average payables | $35.5M | $31.3M | $30.5M | $17.9M | $10.4M | $7.9M | $3.8M | $3.2M | $3.9M | $4.6M |
| Average inventory | — | — | — | $4.5M | — | −$40.0M | — | $0 | $0 | $1 |
| Intangibles / total assets | 44.2% | 46.8% | 45.7% | 54.2% | 52.1% | 69.6% | 3.8% | 9.3% | 13.9% | 21.9% |
Computed from BAND's annual financial statements (latest annual report filed February 19, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
BAND valuation and financial ratios
Bandwidth earned a return on equity of −3.6% and a return on invested capital of −1.3% in fiscal 2025. It ended the year with $701.2 million of debt and $111.6 million in cash and short-term investments, net debt of $589.5 million. The share count rose 105.8% from 14.6M to 30.0M over 9 years.
See the BAND income statement, the BAND chart for price history, or the BAND stock overview for the latest quote and news.
BAND key metrics FAQ
What is Bandwidth's EV/EBITDA?
Bandwidth's enterprise value was 26.9 times EBITDA at the end of fiscal 2025 (enterprise value $1.1 billion, EBITDA $39.2 million); the current EV/EBITDA is 38.1.
What is Bandwidth's return on equity?
Bandwidth's return on equity (ROE) was −3.6% in fiscal 2025: net income of -$12.9 million on average shareholders' equity of $356.3 million.
What is Bandwidth's ROIC?
Bandwidth's return on invested capital was −1.3% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Bandwidth have?
Bandwidth had total debt of $701.2 million at the end of fiscal 2025, a debt-to-equity ratio of 1.75 and $589.5 million of net debt (15.04 times EBITDA).
What is Bandwidth's free cash flow yield?
Bandwidth generated $67.2 million of free cash flow in fiscal 2025, a free cash flow yield of 14.5% on its market value at year-end ($463.5 million).
What is Bandwidth's current ratio?
Bandwidth's current ratio was 1.39 at the end of fiscal 2025: current assets were 1.39 times current liabilities.