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Comtech Telecommunications Corp (CMTL) stock

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NASDAQ: CMTL Nasdaq Communications Equipment Next results ~December 10, 2026

C Fundamentals grade

Comtech Telecommunications Corp is a US-listed company in the communications equipment industry. Its financial year ends in July.

Stock price today

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Third-party market data · may be delayed

Fair value per share

Under review: free cash flow after stock pay is not positive.

Price vs value

Under review: free cash flow after stock pay is not positive. We'll show the comparison once resolved.

Comtech Telecommunications Corp valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 1 selling0 purchases and 1 sale by directors and officers, last 12 monthsInsider trades
  • Funds30 adding, 47 cuttingOf 23 active managers that changed their stake, 11 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Comtech Telecommunications files

Where Comtech Telecommunications stands after its latest 10-K

Revenue for the twelve months to July 2026 was $250m, down 17.0% on a year earlier, a smaller fall than the 48.4% decline a quarter earlier. That puts it 21 of 21 for growth among the communications equipment companies we cover. Free-cash-flow margin rose to 8.9% from -5.5% a year earlier. Operating margin widened to -7.3% from -9.9%. Against its peers on growth, profitability, cash generation and balance sheet, it grades C. It passes 1 of our 3 financial-health checks.

Our model value for Comtech Telecommunications is under review, so past values are not shown until it is resolved.

Source: 10-K filed October 14, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~December 10, 2026 (estimated)

Comtech Telecommunications Corp's trailing-twelve-month revenue fell 17.0% year on year, with a free-cash-flow margin of 8.9%. Where it stands out: change in growth rate of +31.4pp ranks 5 of 40 communications equipment companies we cover. Where it lags: revenue growth of -17.0% ranks 37 of 40 communications equipment companies we cover.

Current signal Revenue growth accelerating: TTM revenue growth rose to -17.0% (+31.4pp vs the prior quarter).

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Net cash. Cash exceeds long-term debt by $0.0bn.

Things to watch

  • Revenue shrinking. Revenue fell 17.0% over the last 12 months.
  • Loss-making. Operating margin is -7.3%: costs exceed revenue.
  • Volatile shares. Over the past year the shares showed annualised volatility of 90% and a beta of 1.9 against the S&P 500.
  • Below peers: days sales outstanding. Days sales outstanding of 99 days ranks 27 of 34 communications equipment companies we cover (median 75 days).

Latest results: FY2026 Q4

Filed October 14, 2026
Earnings per share
-$0.22 against an average estimate of -$0.27: beat by 18.5%
Share reaction
+11.5% in the first session after the results on October 14, 2026, against -0.8% for the S&P 500
Guidance given
transition related costs $13m to $15m (fiscal 2027 and 2028); annual cost savings, excluding one-time non-recurring expenses $16m to $18m (after approximately one year of transition implementation)
Next report
December 10, 2026; average EPS estimate -$0.16

Comtech Telecommunications' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-2.4%
  • 1 week-6.1%
  • 1 month-6.1%
  • This year-76.6%
  • 1 year-56.3%
  • 5 years-95.1%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$250M
Operating margin
-7.3%
Net margin
-14.5%
EPS (TTM, diluted)
$-1.21

Growth

Revenue growth
−17.0%
Change in growth rate
+31.4 pts
Share count change
+1.5%

Cash

Free cash flow (TTM)
$22.2M
FCF margin
8.9%
Stock pay % of revenue
1.3%

Earnings

Last results
October 14, 2026
Next results (est.)
January 12, 2027

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Leadership
  2. Results
  3. Guidance
  4. Leadership
  5. Agreement

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Comtech Telecommunications Corp valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: free cash flow after stock pay is not positive.

The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.

Valuation models

We value Comtech Telecommunications Corp as an operating company, with every model that fits that kind of business. Cost of equity 11.7%: the 10-year Treasury yield (4.9%) plus a beta of 1.51 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. ~$7.3 ~$7.3–$9.6 Left out: out of range vs price (5.90x)
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. — Does not apply: This model is withheld pending its input or assumption review.
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: This model is withheld pending its input or assumption review.
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: This model is withheld pending its input or assumption review.
Price-to-sales vs peers Sales per share times peers' typical price-to-sales; used only when earnings are negative. ~$10 ~$7.3–$46 Left out: out of range vs price (8.06x)
Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. — Combined value withheld. Review the individual models and their assumptions.

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Comtech Telecommunications Corp with Communications Equipment in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 20162017201820192020202120222023202420252026
Share price$11.13$16.11$30.52$27.44$15.42$23.90$11.42$10.16$3.24$2.17$1.68
Market value$189m$378m$734m$667m$384m$614m$303m$285m$93m$64m$50m
+ Net debt (− = net cash)$184m$150m$122m$119m$102m$170m$108m$145m$145m$83m$73m
Enterprise value$373m$528m$856m$786m$486m$784m$411m$430m$238m$147m$123m
Multiples
Price / sales 0.5x0.7x1.3x1.0x0.6x1.1x0.6x0.5x0.2x0.2x0.2x
Price / earnings —23.9x24.7x26.6x54.7x——————
Price / free cash flow 20.1x6.4x17.6x11.3x8.4x—————2.3x
EV / EBITDA 40.3x10.3x17.6x14.7x18.9x——————

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

48 /100

Moderate moat

How hard Comtech Telecommunications'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 14 / 20

    Cash operating profit has been a median 10.8% of total assets over 10 years.

  • Pricing power 12 / 20

    Gross margin has been a median 36.8%, moving by 3.3 percentage points (standard deviation) across 10 years.

  • Durability 10 / 20

    Operating margin has been a median -4.8%; its worst year was -14.8%.

  • Cash conversion 6 / 20

    Free cash flow was positive in 5 of 10 years, at a median 1.8% of revenue.

  • Discipline 11 / 20

    The diluted share count rose 16.2% over five years; stock-based pay has been a median 1.5% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (52 before it).

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

Forecasts and guidance

Next results: December 10, 2026, after the close. Analysts expect revenue of $64m and EPS of −$0.16 (range −$0.24 to −$0.08) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current −$0.41 — $265m −39%
Next −$0.35 +14% $276m +4%

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −45.3% on 90 days ago. In the last 30 days, 1 analyst raised Comtech Telecommunications Corp's forecast and 0 cut it.

Consensus EPS forecast Comtech Telecommunications Corp, last 90 days
−$0.80 −$0.60 −$0.40 −$0.20 $0.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: −$0.74 Current fiscal year, 60 days ago: −$0.74 Current fiscal year, 30 days ago: −$0.74 Current fiscal year, 7 days ago: −$0.74 Current fiscal year, Now: −$0.41 −$0.41 Next fiscal year, 90 days ago: −$0.35 Next fiscal year, 60 days ago: −$0.35 Next fiscal year, 30 days ago: −$0.35 Next fiscal year, 7 days ago: −$0.35 Next fiscal year, Now: −$0.35 −$0.35

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago −$0.74−$0.35
60 days ago −$0.74−$0.35
30 days ago −$0.74−$0.35
7 days ago −$0.74−$0.35
Now −$0.41−$0.35

Earnings against estimates

Quarter toEstimateActualSurprise
Apr 2026 −$0.27 −$0.22 +18.5%
Jan 2026 −$0.30 −$0.18 +40.0%
Oct 2025 −$0.39 −$0.18 +53.8%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, October 14, 2026
  • transition related costs fiscal 2027 and 2028 $13m to $15m
    “In connection with aligning its operations, strategy and brand with a public safety focus, the Company anticipates investing between approximately $13.0 million and $15.0 million for transition related costs.” source
  • annual cost savings, excluding one-time non-recurring expenses after approximately one year of transition implementation $16m to $18m
    “After completing the sale of most of the S&S business and after approximately one year of transition implementation, Comtech anticipates annual cost savings, excluding one-time non-recurring expenses, to range from approximately $16.0 million to $18.0 million.” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

Analyst recommendations

2 analysts, Oct 2026
Buy2100%
Hold00%
Sell00%

Monthly trend

  1. Oct 202622
  2. Sep 202622
  3. Aug 202622

Counts of recommendations published by analysts covering Comtech Telecommunications Corp, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
2.1%
of tradable shares
Days to cover
2.07
at average volume
Short interest, 1 month
+45%
to October 15, 2026
Held by institutions
46%
of shares
Held by insiders
2.7%
of shares
Employees
817
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months −56.3%

$2.84 on October 31, 2025 to $1.24

ThenNowEffect
Revenue (last 12 months) $301m $250m −17.0%
P/S multiple 0.3x 0.1x −46.6%
Share count 29m 30m −1.5%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

Last 3 years −90.2%

$12.68 on November 3, 2023 to $1.24

ThenNowEffect
Revenue (last 12 months) $550m $250m −54.6%
P/S multiple 0.6x 0.1x −77.0%
Share count 28m 30m −6.2%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
CMTL+17%−47%−30%−52%+32%−77%
Industry peers (median)+18%−18%−12%+33%+1%−3%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
CMTL58%42%42%50%50%36%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
CMTL−30%−64%−55%−82%−72%−80%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 97% from November 29, 2019 to October 8, 2026. Getting back needed a 2863% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$1.18 – $5.98
From 52-week high
−79.3%
vs 50-day average
−12.9%
vs 200-day average
−60.8%
Volatility (1 year)
90%
Beta vs S&P 500
1.89

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
4 up, 8 down
typical move ±22.8%
After a week
3 up, 9 down
typical move ±21.5%
After a month
4 up, 7 down
typical move ±35.9%
Results releasedNext dayS&P 500 next day5 days21 days
October 14, 2026 +11.5% −0.8% −3.8% —
June 15, 2026 −38.1% +1.2% −50.5% −65.6%
March 16, 2026 −21.6% +1.3% −22.1% −19.7%
December 11, 2025 −13.1% −0.8% −12.5% +67.0%
November 10, 2025 +5.6% +1.8% +2.6% +15.8%
June 9, 2025 −8.4% +0.7% −11.0% +26.9%
March 12, 2025 −6.4% −0.8% −4.0% −32.7%
January 13, 2025 −32.2% +0.3% −40.9% −47.9%
October 31, 2024 −24.8% −1.5% −27.9% −4.7%
October 18, 2024 +11.3% +0.2% +7.3% −25.1%
June 18, 2024 +75.6% 0.0% +46.1% +33.6%
March 18, 2024 −25.3% +1.2% −29.6% −56.2%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Comtech Telecommunications Corp in five measures

Fundamentals grade C
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Comtech Telecommunications Corp
$200M $300M $400M $500M $600M FY24 Q1 FY24 Q4 FY25 Q3 FY26 Q4 Revenue (TTM), FY24 Q1: $570.8M Revenue (TTM), FY24 Q2: $571.3M Revenue (TTM), FY24 Q3: $563M Revenue (TTM), FY24 Q4: $540.4M Revenue (TTM), FY25 Q1: $504.3M Revenue (TTM), FY25 Q2: $496.6M Revenue (TTM), FY25 Q3: $495.4M Revenue (TTM), FY25 Q4: $300.9M Revenue (TTM), FY26 Q1: $296.1M Revenue (TTM), FY26 Q2: $276.3M Revenue (TTM), FY26 Q3: $255.5M Revenue (TTM), FY26 Q4: $249.6M $249.6M

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY24 Q1 $570.8M
FY24 Q2 $571.3M
FY24 Q3 $563M
FY24 Q4 $540.4M
FY25 Q1 $504.3M
FY25 Q2 $496.6M
FY25 Q3 $495.4M
FY25 Q4 $300.9M
FY26 Q1 $296.1M
FY26 Q2 $276.3M
FY26 Q3 $255.5M
FY26 Q4 $249.6M
Revenue growth, TTM YoY Comtech Telecommunications Corp
-60% -40% -20% 0% 20% FY24 Q1 FY24 Q4 FY25 Q3 FY26 Q4 Revenue growth, TTM YoY, FY24 Q1: 14.0% Revenue growth, TTM YoY, FY24 Q2: 11.1% Revenue growth, TTM YoY, FY24 Q3: 6.6% Revenue growth, TTM YoY, FY24 Q4: -1.7% Revenue growth, TTM YoY, FY25 Q1: -11.6% Revenue growth, TTM YoY, FY25 Q2: -13.1% Revenue growth, TTM YoY, FY25 Q3: -12.0% Revenue growth, TTM YoY, FY25 Q4: -44.3% Revenue growth, TTM YoY, FY26 Q1: -41.3% Revenue growth, TTM YoY, FY26 Q2: -44.4% Revenue growth, TTM YoY, FY26 Q3: -48.4% Revenue growth, TTM YoY, FY26 Q4: -17.0% -17.0%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY24 Q1 14.0%
FY24 Q2 11.1%
FY24 Q3 6.6%
FY24 Q4 -1.7%
FY25 Q1 -11.6%
FY25 Q2 -13.1%
FY25 Q3 -12.0%
FY25 Q4 -44.3%
FY26 Q1 -41.3%
FY26 Q2 -44.4%
FY26 Q3 -48.4%
FY26 Q4 -17.0%
Operating margin (TTM) Comtech Telecommunications Corp
-50% 0% 50% FY24 Q1 FY24 Q4 FY25 Q3 FY26 Q4 Operating margin (TTM), FY24 Q1: -0.5% Operating margin (TTM), FY24 Q2: 0.2% Operating margin (TTM), FY24 Q3: 0.5% Operating margin (TTM), FY24 Q4: -14.8% Operating margin (TTM), FY25 Q1: -41.9% Operating margin (TTM), FY25 Q2: -45.2% Operating margin (TTM), FY25 Q3: -44.9% Operating margin (TTM), FY25 Q4: -9.9% Operating margin (TTM), FY26 Q1: 32.6% Operating margin (TTM), FY26 Q2: 38.2% Operating margin (TTM), FY26 Q3: 40.7% Operating margin (TTM), FY26 Q4: -7.3% -7.3%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY24 Q1 -0.5%
FY24 Q2 0.2%
FY24 Q3 0.5%
FY24 Q4 -14.8%
FY25 Q1 -41.9%
FY25 Q2 -45.2%
FY25 Q3 -44.9%
FY25 Q4 -9.9%
FY26 Q1 32.6%
FY26 Q2 38.2%
FY26 Q3 40.7%
FY26 Q4 -7.3%
FCF margin (TTM) Comtech Telecommunications Corp
-20% -10% 0% 10% FY24 Q1 FY24 Q4 FY25 Q3 FY26 Q4 FCF margin (TTM), FY24 Q1: -4.7% FCF margin (TTM), FY24 Q2: -7.8% FCF margin (TTM), FY24 Q3: -11.2% FCF margin (TTM), FY24 Q4: -12.7% FCF margin (TTM), FY25 Q1: -14.9% FCF margin (TTM), FY25 Q2: -9.3% FCF margin (TTM), FY25 Q3: -8.1% FCF margin (TTM), FY25 Q4: -5.5% FCF margin (TTM), FY26 Q1: 4.2% FCF margin (TTM), FY26 Q2: 5.4% FCF margin (TTM), FY26 Q3: 6.1% FCF margin (TTM), FY26 Q4: 8.9% 8.9%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY24 Q1 -4.7%
FY24 Q2 -7.8%
FY24 Q3 -11.2%
FY24 Q4 -12.7%
FY25 Q1 -14.9%
FY25 Q2 -9.3%
FY25 Q3 -8.1%
FY25 Q4 -5.5%
FY26 Q1 4.2%
FY26 Q2 5.4%
FY26 Q3 6.1%
FY26 Q4 8.9%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-K/A, 10-Q, 10-Q/A. Generated November 3, 2026. Definitions in our methodology.

Financial statements

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

Fiscal year 2010 Jul 2010 2011 Jul 2011 2012 Jul 2012 2013 Jul 2013 2014 Jul 2014 2015 Jul 2015 2016 Jul 2016 2017 Jul 2017 2018 Jul 2018 2019 Jul 2019 2020 Jul 2020 2021 Jul 2021 2022 Jul 2022 2023 Jul 2023 2024 Jul 2024 2025 Jul 2025 2026 Jul 2026
Income
Revenue 778 612 425 320 347 307 411 550 571 672 617 582 486 550 540 301 250
Gross profit 271 241 184 141 151 139 171 218 224 247 227 214 180 184 157 95 97
EBITDA 116 122 61 42 51 41 9 51 49 53 26 −59 −23 −3 −68 −21 −8
Operating income 104 108 51 34 44 34 −1 37 35 41 15 −68 −34 −15 −80 −30 −18
Net income 61 68 32 18 25 23 −8 16 30 25 7 −73 −33 −27 −100 −155 −36
Diluted EPS $1.91 $2.22 $1.42 $0.97 $1.37 $1.42 −$0.46 $0.67 $1.24 $1.03 $0.28 −$2.86 −$1.63 −$1.21 −$4.70 −$6.95 −$2.31
Growth (year on year)
Revenue +32.7% −21.3% −30.6% −24.8% +8.6% −11.5% +33.8% +33.9% +3.7% +17.7% −8.2% −5.7% −16.4% +13.1% −1.7% −44.3% −17.0%
EBITDA +29.4% +5.4% −49.6% −31.2% +19.6% −19.8% −77.2% +455.4% −5.2% +9.4% −51.7% −328.9% — — — — —
Operating income +35.2% +3.7% −52.4% −32.7% +27.3% −22.4% −101.7% — −5.3% +18.1% −63.4% −550.1% — — — — —
Net income +27.6% +12.0% −52.3% −45.1% +41.2% −7.6% −133.3% — +88.1% −15.9% −72.0% — — — — — —
Diluted EPS +10.4% +16.2% −36.0% −31.7% +41.2% +3.6% −132.4% — +85.1% −16.9% −72.8% — — — — — —
Margins
Gross margin 34.8% 39.4% 43.2% 44.0% 43.6% 45.2% 41.7% 39.6% 39.2% 36.8% 36.8% 36.8% 37.0% 33.5% 29.1% 31.6% 38.9%
EBITDA margin 14.9% 19.9% 14.5% 13.2% 14.6% 13.2% 2.3% 9.3% 8.5% 7.9% 4.2% −10.1% −4.8% −0.5% −12.5% −7.0% −3.4%
Operating margin 13.4% 17.6% 12.1% 10.8% 12.6% 11.1% −0.1% 6.7% 6.1% 6.2% 2.5% −11.7% −6.9% −2.7% −14.8% −9.9% −7.3%
Net margin 7.8% 11.1% 7.6% 5.6% 7.2% 7.6% −1.9% 2.9% 5.2% 3.7% 1.1% −12.6% −6.8% −4.9% −18.5% −51.6% −14.5%
Free-cash-flow margin 15.0% 14.7% 11.1% 10.1% 8.5% 6.0% 2.3% 10.7% 7.3% 8.8% 7.4% −9.7% −3.6% −4.1% −12.5% −5.5% 8.9%
Cash flow
Cash from operations 125 97 53 38 35 22 15 67 50 68 53 −41 2 −4 −54 −8 37
Capital spending 7 7 6 5 5 3 6 8 9 9 7 16 20 18 13 8 15
Free cash flow 117 90 47 32 30 18 9 59 42 59 46 −57 −18 −23 −68 −17 22
Stock-based pay 9 5 4 3 4 4 4 9 9 11 9 10 8 10 6 2 3
Free cash flow after stock pay 108 85 44 29 25 14 5 50 33 48 36 −67 −25 −33 −74 −19 19
Balance sheet
Cash 608 559 368 357 155 151 67 42 43 46 48 31 22 19 32 35 35
Total debt 200 200 200 200 — 0 251 192 165 165 150 201 130 164 178 118 108
Net debt (negative = net cash) −408 −359 −168 −157 −155 −151 184 150 122 119 102 170 108 145 145 83 73
Diluted shares 34m 33m 26m 23m 21m 16m 17m 23m 24m 24m 25m 26m 27m 28m 29m 29m 30m
Returned to shareholders
Dividends 0 20 23 19 19 19 19 19 10 10 10 10 11 9 0 0 0
Buybacks 0 120 219 27 71 5 0 0 — — — — — — — — —
Total returned 0 140 242 46 89 24 19 19 10 10 10 10 11 9 0 0 0

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

1 of 3 checks passed · July 31, 2026
What it owns · $696m
Short-term assets $243mLonger-term assets $453m
What it owes, and who funded it · $474m
Short-term liabilities $291mLonger-term liabilities $144mShareholders' equity $39m
  • Short-term assets cover short-term liabilities $243m of assets due within a year against $291m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $243m short-term assets against $144m of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Operating income of −$18m against $21m of interest.

From Comtech Telecommunications Corp'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.

Dividends, buybacks and capital spending

Dividends (TTM)
$32,000
Diluted share count
+1.5%
year over year
Total shareholder yield
0.1%
dividends 0.1% + buybacks 0.0% of market value
R&D spending
4.6%
of revenue
Sales & admin spending
35.2%
of revenue
Days sales outstanding
99 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in communications equipment
Last 12 months unless stated CMTL AUDC TSAT ATEN CRNT ONDS Median
Revenue, last 12 months $250m $246m $299m $310m $339m $174m $324m
Revenue growth, last 12 months −17.0% 1.4% −28.2% 12.2% −14.1% 979.3% 11.0%
Revenue growth, 3-year average −23.2% 21.4% — 4.3% −2.2% 166.7% 4.1%
Revenue growth, latest quarter −8.6% — — 15.5% — >999% 12.9%
Gross margin 38.9% 65.0% 93.4% 79.4% 33.8% 43.7% 43.7%
Operating margin −7.3% 5.7% −72.7% 16.1% 2.1% −140.4% 2.2%
Operating margin, 3-year average −10.7% 9.3% — 15.9% 3.6% −253.1% −1.4%
Net margin −14.5% 3.6% −37.2% 13.9% −0.6% 96.0% −0.0%
Cash from operations / revenue 15.0% 12.0% 16.0% 24.8% 9.3% −92.5% 9.9%
Free-cash-flow margin 8.9% 9.3% −17.7% 19.6% 5.3% −98.7% 7.7%
Free-cash-flow margin, 3-year average −3.1% 12.7% — 22.9% −0.2% −210.5% 2.2%
Stock pay / revenue 1.3% 2.7% 1.0% 7.5% 1.2% 15.0% 3.9%
Change in share count 1.5% −5.4% 5.0% −1.3% 1.5% 31.9% 1.5%

Median of all 40 companies we cover in communications equipment. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

40 communications equipment companies
Measure Company Peer median Rank
Revenue growth Growth -17.0% 11.3% 37 of 40
Change in growth rate Growth +31.4pp +2.0pp 5 of 40
Gross margin Profitability 38.9% 44.1% 25 of 36
Operating margin Profitability -7.3% 2.4% 29 of 40
Net margin Profitability -14.5% 0.6% 33 of 40
Free-cash-flow margin Cash generation 8.9% 8.2% 18 of 38
Stock pay as % of revenue Cash generation 1.3% 3.9% 8 of 37
Long-term debt as % of assets Balance sheet 15.0% 10.4% 16 of 23
Change in share count Balance sheet 1.5% 1.6% 17 of 36
Days sales outstanding Balance sheet 99 days 75 days 27 of 34

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to July 31, 2026
Geography
Region Revenue Share YoY
United States $228M 91.3% ▼ 18.1%
United States Domestic $206M 90.2% —
US Government $22.4M 9.8% —
Total International Sales $21.6M 8.7% —

From Comtech Telecommunications Corp's 10-K filed October 14, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$27.6M
Institutions reporting
77
Shares held vs prior quarter
▼ 16.5%
Positions opened / closed
9 / 16

Top buyers and sellers, Q2 2026: 30 institutions bought and 47 sold ; the biggest buyer was Mml Investors Services, LLC (+299K shares) and the biggest seller Royce & Associates LP (−1.6M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Qvt Financial LP $3.3M 1.7M 12.1% ▼ 1.1%
Vanguard Capital Management LLC $2.7M 1.3M 10.0% ▲ 9.4%
Beacon Pointe Advisors, LLC $2.6M 1.2M 9.5% 0.0%
TCW Group Inc $2M 727K 7.3% 0.0%
Needham Investment Management LLC $1.9M 906K 6.9% ▼ 22.8%
Mml Investors Services, LLC $1.4M 690K 5.3% ▲ 76.7%
Acadian Asset Management LLC $1.3M 600K 4.5% ▲ 48.7%
Marshall Wace, LLP $1.2M 553K 4.2% ▼ 36.2%
Blackrock, Inc. $1.1M 506K 3.9% ▲ 4.6%
Jane Street Group, LLC $1M 480K 3.7% ▲ 63.0%
Pacific Ridge Capital Partners, LLC $966,109 460K 3.5% ▼ 0.8%
Dimensional Fund Advisors LP $927,125 442K 3.4% ▼ 10.5%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Comtech Telecommunications Corp's complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $520 1 trade by 1 insider · 0% under pre-set plans
Net ▼ $520 net selling
Insider Date Trade Shares Price Value
Gizinski Daniel President, S&S Comm. Segment June 18, 2026 Sell 200 $2.60 $520

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 8 trades and filings

No trades in Comtech Telecommunications Corp disclosed in the last 12 months; 8 earlier trades on record.

  • Debbie Wasserman Schultz(D-FL 23):Sale (full), $1,001 - $15,000, traded March 29, 2017, filed June 7, 2017
  • Debbie Wasserman Schultz(D-FL 23):Sale (full), $1,001 - $15,000, traded March 29, 2017, filed June 7, 2017
  • Debbie Wasserman Schultz(D-FL 23):Sale (full), $1,001 - $15,000, traded March 29, 2017, filed March 31, 2017

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around January 12, 2027 estimated from the company's past filing pattern, not announced

  • October 14, 2026
  • June 15, 2026
  • March 16, 2026
  • December 11, 2025
  • November 10, 2025
  • June 9, 2025

Recent SEC filings

Data status

When each part of this page on Comtech Telecommunications Corp was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Comtech Telecommunications Corp in brief

What does Comtech Telecommunications Corp do?
Comtech Telecommunications Corp is a US-listed company in the communications equipment industry. Its financial year ends in July.
What is Comtech Telecommunications Corp's stock ticker?
Comtech Telecommunications Corp trades under the ticker CMTL on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Comtech Telecommunications Corp's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Comtech Telecommunications Corp reported revenue of $250M, 17.0% lower than a year earlier, according to its SEC filings.
What is Comtech Telecommunications Corp's free cash flow?
Comtech Telecommunications Corp's free-cash-flow margin is 8.9% of revenue over the trailing twelve months, ranking 18 of the 38 communications equipment companies we cover.
Who are Comtech Telecommunications Corp's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Qvt Financial LP, Vanguard Capital Management LLC and Beacon Pointe Advisors, LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Comtech Telecommunications Corp's market cap?
On July 31, 2026, Comtech Telecommunications Corp's market capitalisation was about $50.1M and net debt of $73.3M. Market figures come from third-party market data and may be delayed.
Does Comtech Telecommunications Corp pay a dividend?
Yes: Comtech Telecommunications Corp paid $32,000 in dividends over the trailing twelve months, a dividend yield of 0.09%.
Who are Comtech Telecommunications Corp's competitors?
In our Communications Equipment peer group, the companies closest to Comtech Telecommunications Corp are Audiocodes LTD, Telesat Corp, A10 Networks, Inc., Ceragon Networks LTD and Ondas Inc. The side-by-side comparison below sets their revenue, margins and growth against Comtech Telecommunications Corp's.
Are insiders buying or selling Comtech Telecommunications Corp stock?
Over the last 12 months, Comtech Telecommunications Corp's directors and officers reported 0 open-market purchases and 1 sales on Form 4. The insider trading page charts every trade.
When is Comtech Telecommunications Corp's next earnings date?
Around December 10, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Comtech Telecommunications Corp announces its own schedule.