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Bandwidth Inc. key statistics and ratios

In fiscal 2025, Bandwidth Inc. had return on equity of -3.6% and a net margin of -1.7%. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2015Dec 20152016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMSept 2026
Net margin−4.9%14.7%3.7%8.8%1.1%−12.8%−5.6%3.4%−2.7%−0.9%−1.7%1.0%
Return on equity——22.0%19.3%1.3%−12.6%−6.5%5.7%−5.7%−2.1%−3.6%2.2%
Return on assets—32.0%6.8%14.1%1.0%−7.1%−2.8%2.0%−1.6%−0.6%−1.3%0.8%
Effective tax rate5.5%—53.7%—————————
R&D as % of revenue5.4%5.6%6.6%10.2%13.5%15.9%14.2%17.1%17.3%15.8%17.6%17.2%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

3 of 6 checks passed · September 30, 2026
What it owns · $1.1bn
Short-term assets $314mLonger-term assets $780m
What it owes, and who funded it · $1.1bn
Short-term liabilities $163mLonger-term liabilities $549mShareholders' equity $382m
  • Short-term assets cover short-term liabilities $314m of assets due within a year against $163m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $314m short-term assets against $549m of longer-dated liabilities.
  • More cash than debt $171m of cash against $311m of debt.
  • Debt below 40% of shareholders' equity Debt is 81% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 253% to 81% over five years.
  • A year's operating cash flow covers at least 20% of debt $114m of operating cash flow against $311m of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Bandwidth Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

34 /100

Weak moat

How hard Bandwidth's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 8 / 20

    Cash operating profit has been a median 7.1% of total assets over 9 years.

  • Pricing power 13 / 20

    Gross margin has been a median 42.8%, moving by 3.7 percentage points (standard deviation) across 10 years.

  • Durability 10 / 20

    Operating margin has been a median -2.0%; its worst year was -7.9%.

  • Cash conversion 10 / 20

    Free cash flow was positive in 8 of 10 years, at a median 3.4% of revenue.

  • Discipline 9 / 20

    The diluted share count rose 40.9% over five years; stock-based pay has been a median 3.2% of revenue.

AI disruption exposure: High. In this industry, the core product is information work that AI systems increasingly perform. The score above includes a 15-point deduction for that exposure (49 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Compare with peers

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More: Application Software stocks compared, Technology sector, rankings of US companies

Figures from Bandwidth Inc.'s SEC filings (10-K and 10-Q), retrieved October 30, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Bandwidth Inc.