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Perion Network Ltd. (PERI) stock

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NASDAQ: PERI Nasdaq Advertising Next results ~November 11, 2026

C+ Fundamentals grade

Perion Network Ltd. is a US-listed company in the advertising industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$24

Cash-flow model

Base case. Range ~$20–$30 across our lower- and higher-growth cases (-1%–9% a year).

Price vs value

Undervalued

The price is below our entire value range; our base value is 111% above it.

Price used: $11.41, November 2, 2026

Perion Network Ltd. 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, 4 selling0 purchases and 10 sales by directors and officers, last 12 monthsInsider trades
  • Funds40 adding, 41 cuttingOf 20 active managers that changed their stake, 4 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Perion Network files

Where Perion Network stands after its latest Filing

Revenue for the twelve months was $440m, down 11.7% on a year earlier, a smaller fall than the 32.9% decline a quarter earlier. Free-cash-flow margin fell to 8.7% from 14.7% a year earlier. Operating margin narrowed to -3.4% from 9.6%. The diluted share count is down 15.0% on a year earlier, which lifts each remaining share. Against its peers on growth, profitability, cash generation and balance sheet, it grades C+. It passes 2 of our 2 financial-health checks. Our cash-flow model value is $24.08 a share, against a share price of $8.70.

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 ~November 11, 2026 (estimated)

Perion Network Ltd.'s trailing-twelve-month revenue fell 11.7% year on year, with a free-cash-flow margin of 8.7%. Where it stands out: change in share count of -15.0% ranks 1 of 24 advertising companies we cover.

Our discounted-cash-flow model values the business at ~$24 per share in the base case (~$20–$30 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Revenue growth accelerating: TTM revenue growth rose to -11.7% (+21.2pp 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

  • Priced below our value. The share price of $11.41 is 111% below our value per share of $24.
  • Shrinking share count. Diluted shares fell 15.0% in a year, so each share owns more of the business.
  • Net cash. Cash exceeds long-term debt by $0.1bn.

Things to watch

  • Revenue shrinking. Revenue fell 11.7% over the last 12 months.
  • Loss-making. Operating margin is -3.4%: costs exceed revenue.
  • Volatile shares. Over the past year the shares showed annualised volatility of 48% and a beta of 0.6 against the S&P 500.
  • Below peers: stock pay as % of revenue. Stock pay as % of revenue of 7.1% ranks 18 of 23 advertising companies we cover (median 2.7%).
  • Below peers: days sales outstanding. Days sales outstanding of 156 days ranks 19 of 25 advertising companies we cover (median 91 days).

Latest results

Earnings per share
$0.09 against an average estimate of $0.08: beat by 16.1%
Next report
November 11, 2026; average EPS estimate $0.35

Perion Network's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+31.1%
  • 1 week+32.7%
  • 1 month+34.2%
  • This year+19.1%
  • 1 year+22.7%
  • 5 years-60.2%
  • S&P 500 this year+11.2%

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

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$440M
Operating margin
-3.4%
Net margin
-1.8%
EPS (TTM, diluted)
$-0.19

Growth

Revenue growth
−11.7%
Change in growth rate
+21.2 pts
Share count change
−15.0%

Cash

Free cash flow (TTM)
$38.1M
FCF margin
8.7%
Stock pay % of revenue
7.1%

News & updates

Updated November 3, 2026

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

  1. Our research

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

Perion Network Ltd. valuation models and calculator

What the price is pricing in

The share price implies cash flow shrinking about 17.1% a year for five years.That is slower than the 6.0% a year revenue growth Perion Network has delivered.

  • Priced in-17.1%
  • Last 12 months-11.7%
  • 3 years a year-11.8%
  • 5 years a year6.0%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($11.40, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Buy12-month view
12-month price target
~$24
Price used
$11.40close November 3, 2026
Implied change
▲ +111%
Uncertainty
Low

How we got here: a discounted-cash-flow model of Perion Network Ltd.'s free cash flow after stock-based pay with after-tax interest added back ($37.5M, FY2025 Q4 TTM), growing 4% a year for five years and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$20–~$30 ; that spread sets a 15% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Perion Network Ltd.'s free cash flow after stock-based pay ( $37.5M, FY2025 Q4 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Perion Network Ltd. as an operating company, with every model that fits that kind of business. Cost of equity 9.2%: the 10-year Treasury yield (4.9%) plus a beta of 0.93 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$24 ~$20–$30 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$13 ~$11–$21 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$19 ~$13–$26 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$19 ~$16–$23 Included
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$20 ~$13–$24 4 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Perion Network Ltd. with Advertising 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.

What moves the value

  • Revenue growth 5 points lower ▼ −18%
  • Revenue growth 5 points higher ▲ +24%
  • Free-cash-flow margin 1 point lower ▼ −8%
  • Last year's free-cash-flow margin change, if it persists ▲ more than doubles
  • Discount rate 1 point higher ▼ −10%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $20$25$32$40$52$66
8.5% $17$20$25$31$39$50
10% $15$18$21$26$32$40

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025
Share price$10.89$4.26$3.09$2.60$6.22$12.73$24.05$25.30$30.87$8.47$9.58
Market value$259m$109m$80m$67m$164m$367m$910m$1.2bn$1.5bn$420m$403m
+ Net debt (− = net cash)$35m$16m−$885000−$15m−$22m−$48m−$104m−$176m−$188m−$156m−$90m
Enterprise value$293m$125m$79m$52m$142m$319m$805m$1.0bn$1.4bn$264m$313m
Multiples
Price / sales 1.2x0.3x0.3x0.3x0.6x1.1x1.9x1.9x2.1x0.8x0.9x
Price / earnings —n/m—8.3x12.7x35.9x23.5x12.5x13.4x33.3x—
Price / free cash flow 16.7x3.8x2.3x2.2x3.8x16.9x12.9x10.0x10.0xn/m10.6x
EV / EBITDA —3.3x—2.1x5.1x14.4x14.4x8.6x10.6x19.7x112.9x

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

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: High.

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: November 11, 2026, before the open. Analysts expect revenue of $118m and EPS of $0.35 (range $0.32 to $0.37) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $1.25 +11% $465m +6%
Next $1.42 +13% $513m +10%

Next year's EPS estimate has moved −0.9% in 90 days, across 4 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +3.1% on 90 days ago. In the last 30 days, 3 analysts raised Perion Network Ltd.'s forecast and 1 cut it.

Consensus EPS forecast Perion Network Ltd., last 90 days
$1.10 $1.20 $1.30 $1.40 $1.50 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $1.21 Current fiscal year, 60 days ago: $1.18 Current fiscal year, 30 days ago: $1.18 Current fiscal year, 7 days ago: $1.18 Current fiscal year, Now: $1.25 $1.25 Next fiscal year, 90 days ago: $1.43 Next fiscal year, 60 days ago: $1.30 Next fiscal year, 30 days ago: $1.30 Next fiscal year, 7 days ago: $1.30 Next fiscal year, Now: $1.42 $1.42

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

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $1.21$1.43
60 days ago $1.18$1.30
30 days ago $1.18$1.30
7 days ago $1.18$1.30
Now $1.25$1.42

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $0.08 $0.09 +16.1%
Mar 2026 $0.06 $0.11 +77.4%
Dec 2025 $0.51 $0.49 −3.2%
Sept 2025 $0.26 $0.28 +7.7%

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

Analyst recommendations

6 analysts, Oct 2026
Buy350%
Hold350%
Sell00%

Monthly trend

  1. Oct 2026336
  2. Sep 2026336
  3. Aug 2026336

Counts of recommendations published by analysts covering Perion Network Ltd., 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
3.5%
of tradable shares
Days to cover
3.07
at average volume
Short interest, 1 month
+1%
to October 15, 2026
Held by institutions
59%
of shares
Held by insiders
0.7%
of shares
Employees
511
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

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
PERI+89%+5%+22%−73%+13%+19%
Industry peers (median)+18%−59%+10%−10%−40%−19%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
PERI42%42%50%25%58%55%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
PERI−45%−35%−42%−75%−29%−30%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 3, 2015: 83% from April 17, 2023 to April 8, 2025. Getting back needed a 491% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$7.71 – $11.41
From 52-week high
0.0%
vs 50-day average
+27.1%
vs 200-day average
+23.3%
Volatility (1 year)
48%
Beta vs S&P 500
0.61

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.

Options strategies

All options ideas

How Perion Network Ltd.’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Cash-secured put

Not offered: fundamentals grade C+ (needs B+ or better).

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: the shares trade below our fair value: a collar caps upside the model expects.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Perion Network Ltd. in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet Value

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) Perion Network Ltd.
$0 $200M $400M $600M $800M FY14 Q4 FY17 Q4 FY20 Q4 FY25 Q4 Revenue (TTM), FY14 Q4: $388.7M Revenue (TTM), FY15 Q4: $221M Revenue (TTM), FY16 Q4: $312.8M Revenue (TTM), FY17 Q4: $274M Revenue (TTM), FY18 Q4: $252.8M Revenue (TTM), FY19 Q4: $261.5M Revenue (TTM), FY20 Q4: $328.1M Revenue (TTM), FY21 Q4: $478.5M Revenue (TTM), FY22 Q4: $640.3M Revenue (TTM), FY23 Q4: $743.2M Revenue (TTM), FY24 Q4: $498.3M Revenue (TTM), FY25 Q4: $439.9M $439.9M

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period Revenue (TTM)
FY14 Q4 $388.7M
FY15 Q4 $221M
FY16 Q4 $312.8M
FY17 Q4 $274M
FY18 Q4 $252.8M
FY19 Q4 $261.5M
FY20 Q4 $328.1M
FY21 Q4 $478.5M
FY22 Q4 $640.3M
FY23 Q4 $743.2M
FY24 Q4 $498.3M
FY25 Q4 $439.9M
Revenue growth, TTM YoY Perion Network Ltd.
-50% 0% 50% FY14 Q4 FY17 Q4 FY20 Q4 FY25 Q4 Revenue growth, TTM YoY, FY14 Q4: 19.4% Revenue growth, TTM YoY, FY15 Q4: -43.2% Revenue growth, TTM YoY, FY16 Q4: 41.6% Revenue growth, TTM YoY, FY17 Q4: -12.4% Revenue growth, TTM YoY, FY18 Q4: -7.7% Revenue growth, TTM YoY, FY19 Q4: 3.4% Revenue growth, TTM YoY, FY20 Q4: 25.5% Revenue growth, TTM YoY, FY21 Q4: 45.9% Revenue growth, TTM YoY, FY22 Q4: 33.8% Revenue growth, TTM YoY, FY23 Q4: 16.1% Revenue growth, TTM YoY, FY24 Q4: -32.9% Revenue growth, TTM YoY, FY25 Q4: -11.7% -11.7%

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period Revenue growth, TTM YoY
FY14 Q4 19.4%
FY15 Q4 -43.2%
FY16 Q4 41.6%
FY17 Q4 -12.4%
FY18 Q4 -7.7%
FY19 Q4 3.4%
FY20 Q4 25.5%
FY21 Q4 45.9%
FY22 Q4 33.8%
FY23 Q4 16.1%
FY24 Q4 -32.9%
FY25 Q4 -11.7%
Operating margin (TTM) Perion Network Ltd.
-40% -20% 0% 20% FY14 Q4 FY17 Q4 FY20 Q4 FY25 Q4 Operating margin (TTM), FY14 Q4: 16.2% Operating margin (TTM), FY15 Q4: -17.7% Operating margin (TTM), FY16 Q4: 3.6% Operating margin (TTM), FY17 Q4: -27.6% Operating margin (TTM), FY18 Q4: 5.8% Operating margin (TTM), FY19 Q4: 6.9% Operating margin (TTM), FY20 Q4: 3.7% Operating margin (TTM), FY21 Q4: 9.6% Operating margin (TTM), FY22 Q4: 16.8% Operating margin (TTM), FY23 Q4: 15.4% Operating margin (TTM), FY24 Q4: -0.6% Operating margin (TTM), FY25 Q4: -3.4% -3.4%

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period Operating margin (TTM)
FY14 Q4 16.2%
FY15 Q4 -17.7%
FY16 Q4 3.6%
FY17 Q4 -27.6%
FY18 Q4 5.8%
FY19 Q4 6.9%
FY20 Q4 3.7%
FY21 Q4 9.6%
FY22 Q4 16.8%
FY23 Q4 15.4%
FY24 Q4 -0.6%
FY25 Q4 -3.4%
FCF margin (TTM) Perion Network Ltd.
0% 10% 20% 30% FY14 Q4 FY17 Q4 FY20 Q4 FY25 Q4 FCF margin (TTM), FY14 Q4: 15.7% FCF margin (TTM), FY15 Q4: 7.0% FCF margin (TTM), FY16 Q4: 9.3% FCF margin (TTM), FY17 Q4: 12.6% FCF margin (TTM), FY18 Q4: 12.2% FCF margin (TTM), FY19 Q4: 16.7% FCF margin (TTM), FY20 Q4: 6.6% FCF margin (TTM), FY21 Q4: 14.7% FCF margin (TTM), FY22 Q4: 18.9% FCF margin (TTM), FY23 Q4: 20.8% FCF margin (TTM), FY24 Q4: 0.0% FCF margin (TTM), FY25 Q4: 8.7% 8.7%

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period FCF margin (TTM)
FY14 Q4 15.7%
FY15 Q4 7.0%
FY16 Q4 9.3%
FY17 Q4 12.6%
FY18 Q4 12.2%
FY19 Q4 16.7%
FY20 Q4 6.6%
FY21 Q4 14.7%
FY22 Q4 18.9%
FY23 Q4 20.8%
FY24 Q4 0.0%
FY25 Q4 8.7%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 20-F, 20-F/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 2009 Dec 2009 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025
Income
Revenue 27 29 35 60 326 389 221 313 274 253 261 328 478 640 743 498 440
Gross profit 26 28 33 55 76 378 213 287 249 229 236 — — — — — —
EBITDA 12 12 6 10 84 84 −28 37 −59 24 28 22 56 121 128 13 3
Operating income 11 11 5 6 82 63 −39 11 −76 15 18 12 46 107 114 −3 −15
Net income 8 8 6 4 29 43 −69 0 −73 8 13 10 39 97 115 13 −8
Diluted EPS $0.17 $0.51 $0.34 $0.20 $1.56 $1.74 −$2.88 $0.01 −$2.81 $0.31 $0.49 $0.36 $1.02 $2.03 $2.30 $0.25 −$0.19
Growth (year on year)
Revenue — +8.5% +20.3% +69.8% +440.5% +19.4% −43.2% +41.6% −12.4% −7.7% +3.4% +25.5% +45.9% +33.8% +16.1% −32.9% −11.7%
EBITDA — −1.3% −50.7% +64.3% +764.9% −0.0% −132.7% — −258.3% — +13.6% −20.0% +151.6% +117.3% +5.9% −89.6% −79.3%
Operating income — −1.6% −59.8% +35.9% +>999% −23.4% −161.9% — −766.7% — +22.6% −32.0% +274.6% +134.0% +6.4% −102.7% —
Net income — +4.7% −32.4% −37.6% +709.6% +49.7% −260.3% — — — +58.8% −20.7% +278.5% +151.8% +17.9% −89.0% −162.9%
Diluted EPS — +203.6% −32.9% −40.4% +664.7% +11.5% −265.5% — — — +58.1% −26.5% +183.3% +99.0% +13.3% −89.1% −176.0%
Margins
Gross margin 94.5% 94.6% 92.0% 91.3% 23.3% 97.2% 96.4% 91.7% 91.0% 90.6% 90.2% — — — — — —
EBITDA margin 44.9% 40.8% 16.7% 16.2% 25.9% 21.7% −12.5% 11.9% −21.6% 9.7% 10.6% 6.8% 11.7% 18.9% 17.3% 2.7% 0.6%
Operating margin 42.2% 38.3% 12.8% 10.3% 25.3% 16.2% −17.7% 3.6% −27.6% 5.8% 6.9% 3.7% 9.6% 16.8% 15.4% −0.6% −3.4%
Net margin 29.5% 28.4% 16.0% 5.9% 8.8% 11.0% −31.1% 0.1% −26.6% 3.2% 4.9% 3.1% 8.1% 15.2% 15.5% 2.5% −1.8%
Free-cash-flow margin 37.4% 32.3% 18.9% 25.9% 18.3% 15.7% 7.0% 9.3% 12.6% 12.2% 16.7% 6.6% 14.7% 18.9% 20.8% 0.0% 8.7%
Cash flow
Cash from operations 11 10 7 16 61 72 18 30 36 33 45 22 71 122 155 7 42
Capital spending 1 0 0 1 2 11 2 2 2 2 1 0 1 1 1 7 4
Free cash flow 10 10 7 16 59 61 16 29 34 31 44 22 70 121 155 0 38
Stock-based pay 1 1 1 1 10 14 7 7 2 3 2 4 7 13 18 27 31
Free cash flow after stock pay 9 9 6 15 49 47 9 22 32 28 41 17 63 108 137 −27 7
Balance sheet
Cash 24 16 11 78 1 101 18 24 32 39 38 48 104 176 188 156 90
Total debt 0 0 0 9 7 38 52 40 31 24 17 — 0 0 0 0 0
Net debt (negative = net cash) −24 −16 −11 −70 6 −63 35 16 −1 −15 −22 −48 −104 −176 −188 −156 −90
Diluted shares — 16m 17m 17m 18m 23m 24m 26m 26m 26m 26m 29m 38m 48m 50m 50m 42m
Returned to shareholders
Dividends 8 8 4 — 65 — — — — — — — — — — — —
Buybacks 0 — — — — — — — — — — — — — — — —
Total returned 9 8 4 — 65 — — — — — — — — — — — —

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

2 of 2 checks passed · December 31, 2025
What it owns · $914m
Short-term assets $520mLonger-term assets $394m
What it owes, and who funded it · $914m
Short-term liabilities $189mLonger-term liabilities $49mShareholders' equity $676m
  • Short-term assets cover short-term liabilities $520m of assets due within a year against $189m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $520m short-term assets against $49m 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 Interest not separately reported. Not assessable.

From Perion Network Ltd.'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

Diluted share count
−15.0%
year over year
R&D spending
7.9%
of revenue
Days sales outstanding
156 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in advertising
Last 12 months unless stated PERI DSP NEXN THRY MGNI NCMI Median
Revenue, last 12 months $440m $388m $365m $712m $742m $249m $202m
Revenue growth, last 12 months −11.7% 22.0% −0.2% −6.2% 8.3% 5.8% −1.2%
Revenue growth, 3-year average 10.6% 24.3% — −12.4% 7.1% 8.3% 7.7%
Revenue growth, latest quarter — 33.9% — −28.4% 11.2% 12.7% 2.4%
Gross margin 90.2% 44.5% 84.9% 66.1% 64.8% 94.2% 40.3%
Operating margin −3.4% 2.3% 8.9% 4.7% 15.6% −7.1% −3.3%
Operating margin, 3-year average −7.1% 0.2% — −9.1% 9.6% −9.5% −2.8%
Net margin −1.8% 2.2% 6.9% −2.3% 22.5% −3.1% −2.3%
Cash from operations / revenue 9.5% 17.3% 30.2% 10.1% 37.9% 9.6% 3.5%
Free-cash-flow margin 8.7% 17.0% 26.9% 5.4% 27.0% 7.9% 3.9%
Free-cash-flow margin, 3-year average 12.0% 16.6% — 7.1% 25.4% 8.6% 8.1%
Stock pay / revenue 7.1% 7.6% 4.9% 2.7% 10.1% 3.1% 2.7%
Change in share count −15.0% 16.1% −12.9% 11.9% 3.8% −1.4% 4.2%

Median of all 27 companies we cover in advertising. 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

27 advertising companies
Measure Company Peer median Rank
Revenue growth Growth -11.7% -1.2% 20 of 27
Change in growth rate Growth +21.2pp -0.5pp 4 of 27
Operating margin Profitability -3.4% -3.2% 14 of 26
Net margin Profitability -1.8% -2.3% 13 of 27
Free-cash-flow margin Cash generation 8.7% 4.7% 9 of 26
Stock pay as % of revenue Cash generation 7.1% 2.7% 18 of 23
Change in share count Balance sheet -15.0% 4.2% 1 of 24
Days sales outstanding Balance sheet 156 days 91 days 19 of 25

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

Who owns it

Funds buying and selling
Reported value
$222M
Institutions reporting
93
Shares held vs prior quarter
▼ 1.1%
Positions opened / closed
14 / 15

Top buyers and sellers, Q2 2026: 40 institutions bought and 41 sold ; the biggest buyer was Private Capital Management, LLC (+356K shares) and the biggest seller Renaissance Technologies LLC (−347K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Private Capital Management, LLC $49.8M 5.1M 22.5% ▲ 7.4%
Harel Insurance Investments & Financial Services Ltd. $33.8M 3.5M 15.2% 0.0%
Acadian Asset Management LLC $17.4M 1.8M 7.9% ▼ 0.4%
Value Base Ltd. $15.1M 1.6M 6.8% 0.0%
Migdal Insurance & Financial Holdings Ltd. $12.5M 1.3M 5.6% 0.0%
Vanguard Capital Management LLC $11.1M 1.2M 5.0% ▼ 9.0%
Castleknight Management LP $10.1M 1.0M 4.6% ▲ 10.6%
Renaissance Technologies LLC $9.9M 1.0M 4.5% ▼ 25.3%
Systematic Financial Management LP $9M 932K 4.1% ▲ 7.3%
Raffles Associates LP $4.6M 472K 2.1% ▲ 176.9%
Man Group PLC $3.6M 374K 1.6% ▲ 37.6%
Vanguard Fiduciary Trust Co $3.3M 347K 1.5% ▼ 3.6%

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 Perion Network Ltd.'s complete shareholder register. Values are as reported by the filers ; 2 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $225,037 10 trades by 4 insiders · 0% under pre-set plans
Net ▼ $225,037 net selling
Insider Date Trade Shares Price Value
Kaplan Eyal Director October 1, 2026 Sell 2,916 $8.72 $25,414
Marcus Joy Sharon Director October 1, 2026 Sell 1,690 $8.71 $14,724
Vorhaus Michael Director October 1, 2026 Sell 2,161 $8.71 $18,827
Marcus Joy Sharon Director July 1, 2026 Sell 1,689 $9.77 $16,502
Kaplan Eyal Director July 1, 2026 Sell 2,916 $9.77 $28,489
Vorhaus Michael Director July 1, 2026 Sell 2,160 $9.70 $20,952
Yap Stephen Moore CRO May 1, 2026 Sell 3,112 $10.44 $32,489
Kaplan Eyal Director April 1, 2026 Sell 2,915 $10.00 $29,150
Marcus Joy Sharon Director April 1, 2026 Sell 1,689 $10.00 $16,890
Vorhaus Michael Director April 1, 2026 Sell 2,160 $10.00 $21,600

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 1 trade and filings

No trades in Perion Network Ltd. disclosed in the last 12 months; 1 earlier trade on record.

  • Debbie Wasserman Schultz(D-FL 25):Purchase, $1,001 - $15,000, traded May 16, 2024, filed June 10, 2024

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

Earnings dates and SEC filings

Results announcements

Recent SEC filings

Data status

When each part of this page on Perion Network Ltd. was last updated.

DataLast updatedSource
Share priceExchange closing prices
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.

Perion Network Ltd. in brief

What does Perion Network Ltd. do?
Perion Network Ltd. is a US-listed company in the advertising industry. Its financial year ends in December.
What is Perion Network Ltd.'s stock ticker?
Perion Network Ltd. trades under the ticker PERI on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Perion Network Ltd.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Perion Network Ltd. reported revenue of $440M, 11.7% lower than a year earlier, according to its SEC filings.
What is Perion Network Ltd.'s free cash flow?
Perion Network Ltd.'s free-cash-flow margin is 8.7% of revenue over the trailing twelve months, ranking 9 of the 26 advertising companies we cover.
What is Perion Network Ltd.'s fair value (intrinsic value) per share?
Our discounted-cash-flow model of Perion Network Ltd.'s free cash flow after stock-based pay gives ~$24 per share in the base case, and ~$20–$30 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Perion Network Ltd.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Private Capital Management, LLC, Harel Insurance Investments & Financial Services Ltd. and Acadian Asset Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Perion Network Ltd.'s market cap?
On December 31, 2025, Perion Network Ltd.'s market capitalisation was about $403M and net debt of -$90M. Market figures come from third-party market data and may be delayed.
Who are Perion Network Ltd.'s competitors?
In our Advertising peer group, the companies closest to Perion Network Ltd. are Viant Technology Inc., Nexxen International Ltd., Thryv Holdings, Inc., Magnite, Inc. and National Cinemedia, Inc. The side-by-side comparison below sets their revenue, margins and growth against Perion Network Ltd.'s.
Are insiders buying or selling Perion Network Ltd. stock?
Over the last 12 months, Perion Network Ltd.'s directors and officers reported 0 open-market purchases and 10 sales on Form 4. The insider trading page charts every trade.
When is Perion Network Ltd.'s next earnings date?
Around November 11, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Perion Network Ltd. announces its own schedule.