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AudioCodes Ltd (AUDC) Fair Value & Analysis

Technology · US · Market cap $230M · ISIN IL0010829658

What is AudioCodes Ltd really worth?

AL AudioCodes Ltd logo AudioCodes Ltd AUDC · US
Price$9.99
Fair Value$9.85
Upside−1.4%
Quality70/100

A solid business, currently priced close to our fair value of $9.85.

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Strengths

✓Low debt · generates free cash flow
✓Ranks above peers (11/15)

Risks

!Weak Growth (revenue 5y +2.2 %/yr)
!Thin margins · 2.8% net margin
!Narrow moat 35/100
!Weak on future: 15 out of 100
!Weak on past: 16 out of 100

For context

·4.00% dividend yield
Evidence: High Range $7.39 – $12.31

Fair value as of: Sep 2, 2026

From 26 valuation models · updated 2 days ago

Share price −0.5% over the past month.

What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • The price sits in the upper half of our model range, so the margin of safety is thin.
  • The data supports the verdict: every model runs on fully documented inputs.

Price vs Fair Value (5 years)

$32.29 $6.54 Fair Value $9.85 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 2, 2026.

How to read this chart

60‑month range $6.54 – $32.29 · fair‑value band $7.39 – $12.31 · the $9.99 price screens above the $9.85 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 3 fiscal years are left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 2, 2026.

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Analysis

AudioCodes Ltd (AUDC) currently trades at $9.99, while our model-based Fair Value estimate is $9.85, implying the stock looks roughly 1.4% fairly valued today. The Quality Score stands at 70/100 (solid quality), in the Technology sector. Bull case: the DCF Models group reads highest at a median of $11.78 per share, and 11 of the 26 models we run sit above the $9.99 price. Bear case: the Earnings-Based group reads lowest at $2.46, and 15 of the 26 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, AudioCodes Ltd generated revenue of $247M at a net margin of 2.8%. Revenue grew 2.9% year over year. It earns a return on equity of 4.1%. Net debt stands at $23.8M. Fundamentals as of Sep 2, 2026

Our scenario range runs from $7.39 (bear case) to $12.31 (bull case); at $9.99, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 9% below its 52-week high and 48% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at −52% fair-value upside, at −1%, AUDC screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Model Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
FCF DCF best evidence $9.28 $12.33 $16.18 82
Growth DCF $9.28 $11.89 $14.98 80
Owner Earnings $3.95 $4.85 $5.98 78
All 26 models by family
DCF Models
FCF DCF best evidence $9.28 $12.33 $16.18 82
Owner Earnings $3.95 $4.85 $5.98 78
5Y Revenue Exit $7.70 $10.46 $13.89 73
5Y EBITDA Exit $9.85 $14.51 $19.92 75
5Y P/E Exit $8.70 $12.35 $16.14 71
10Y Revenue Exit $8.20 $10.66 $13.82 68
10Y EBITDA Exit $9.49 $13.07 $17.78 69
10Y P/E Exit $8.86 $11.78 $15.30 65
Earnings-Based
Graham-Dodd $2.39 $7.74 $10.33 64
Lynch FV $1.72 $2.46 $3.20 61
PEG = 1.0 $1.72 $2.46 $3.20 57
EPV $4.38 $4.70 $4.96 74
Dividend Discount
Gordon GGM $2.99 $5.01 $6.50 68
DDM Multi-Stage $2.99 $4.57 $5.39 67
Multiples
P/E Multiple $7.39 $9.85 $12.31 63
P/S Multiple $4.49 $5.98 $7.48 58
P/B Multiple $4.49 $5.98 $7.48 55
EV/EBIT $11.67 $14.98 $18.29 66
EV/EBITDA $11.43 $14.66 $17.89 67
EV/Revenue $6.76 $8.91 $11.06 54
Asset-Based
NCAV (Graham) $3.36 $4.51 $6.73 54
Growth DCF
Growth DCF $9.28 $11.89 $14.98 80
Rev-Margin DCF $7.70 $10.55 $13.89 73
Economic Profit
Residual Income $4.74 $4.73 $4.16 76
ROIC Compounder $4.38 $4.70 $4.96 72
Growth Earnings
Growth-Adj P/E $6.02 $8.60 $11.18 67

Widest divergence: DCF Models ($11.78) versus Earnings-Based ($2.46). Highest evidence: FCF DCF (82).

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Key figures & financial health

P/E ratio 41.6
P/S ratio 1.52 P/E × margin
EPS (TTM) $0.2400 price ÷ EPS = P/E 41.6
Dividend yield 4.0% payout 167%
Net margin 3.6% FY2025
Return on equity 4.1% TTM
More key figures
Profitability
Return on assets (EBIT) 6.9% avg 5y
Operating margin 5.4% TTM
Growth
Revenue (TTM) $247M TTM
Revenue growth (YoY) +2.9% 3y avg −3.7%
EPS growth (YoY) −46.2%
Balance sheet & cash flow
Free cash flow $22.9M FY2025
Net debt $23.8M FY2025 · ≈ 1.0 yrs of FCF

Figures from reported company fundamentals · as of Sep 2, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 70/100

Of which business quality 69 · Market factors (momentum, volatility) 55

Profitability 46
Margins and returns on capital today
Quality Growth 43
Are margins and returns improving?
Cashflow 67
Earnings quality: real cash, not paper profit
Fin. Strength 77
Balance sheet, leverage, solvency risk
Investment 99
Disciplined investing over empire-building
Low Volatility 53
Calm price path (market factor)
Momentum 53
Price trend over the last 3–12 months (market factor)
52W Momentum 60
Distance to the 52-week high (market factor)
Net Issuance 100
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

AudioCodes Ltd. provides advanced communications software, products, and productivity solutions for the digital workplace worldwide. The company offers solutions, products, and services for unified communications, contact centers, and hosted business services.

Full company description

AudioCodes Ltd. provides advanced communications software, products, and productivity solutions for the digital workplace worldwide. The company offers solutions, products, and services for unified communications, contact centers, and hosted business services. Its products include session border controllers, life cycle management solutions, VoIP network routing solutions, media gateways and servers, multi-service business routers, IP phones solutions, and value-added applications, as well as professional services. The company also offers One Voice Operations Center, a voice network management solution; Device Manager for administering business phones and meeting room solutions; AudioCodes Routing Manager for handling call routing in VoIP networks; and User Management Pack 365 simplifies user lifecycle and identity management across Microsoft Teams and Skype for Business deployments. In addition, it offers managed services; and AudioCodes Live Platform is a SaaS solution that enables service providers to offer their business customers a seamless migration to uCaaS solutions, such as Microsoft Teams and Zoom Phone. The company primarily markets and sells its products through a direct sales force and sales representatives to original equipment manufacturers, network equipment providers, systems integrators, enterprises, carriers, and distributors in the telecommunications and networking industries. AudioCodes Ltd. was incorporated in 1992 and is based in Or Yehuda, Israel.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

AudioCodes Ltd reported revenue of $246M in FY2025 versus $249M in FY2021, a compound −0.3%/yr. Reported net income was $9.0M in FY2025, compounding −28.2%/yr from FY2021.

Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
$246M
Latest YoY
+1.4%
Avg. revenue growth/yr (3Y) ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
−3.7%
Avg. revenue growth/yr (5Y) ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+2.2%
Avg. revenue growth/yr (27Y) ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+12.9%
Value creation/yr (5Y) ⓘEarnings growth per share (CAGR 5 years, EBIT basis) plus dividend yield: value created per share and year.
−12.1% (−16.1 + 4.0)
Revenue −0.3%/yr
FY21 $249M
FY22 $275M
FY23 $244M
FY24 $242M
FY25 $246M
Net income −28.2%/yr
FY21 $33.8M
FY22 $28.5M
FY23 $8.8M
FY24 $15.3M
FY25 $9.0M

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Cite: Fair Value Calculator (2026). "AudioCodes Ltd Fair Value". https://www.fairvalue-calculator.com/stock/AUDC

Peer Group

Communication Equipment · 302 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 70 · Top 25%
Fair Value upside −1% · Above median
Return on equity (TTM) 4% · Above median
Return on assets 3% · Above median
Net margin (TTM) 3% · Below median
Operating margin (TTM) 5% · Above median
Revenue growth 3% · Below median
Dividend yield (TTM) 4.0% · Top 25%
Debt / equity 0.01× · Lower than median

Valuation Multiples vs Communication Equipment median · lower = cheaper

P/E (TTM) 41.6× · Pricier than median
P/B 1.34× · Cheaper than median
P/S (TTM) 0.93× · Cheaper than median
P/FCF 10.0× · Pricier than median
EV/EBITDA 10.2× · Cheaper than median
PEG 0.83× · Cheaper than median

Strength profile in five axes (Snowflake)

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE31 · sector 0
FUTURE15 · sector 39
PAST16 · sector 15
HEALTH100 · sector 98
DIVIDEND80 · sector 22

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Communication Equipment stocks, each showing price versus our Fair Value estimate (as of Sep 2, 2026).

Stock Price Fair Value vs Fair Value
Cisco Systems, Inc CSCO $112.15 $61.53 −45%
Zhongji Innolight Co 300308 ¥866.12 ¥171.09 −80%
Foxconn Industrial Internet Co 601138 ¥61.83 ¥28.65 −54%
Eoptolink Technology Inc 300502 ¥429.90 ¥176.99 −59%
Nokia Oyj NOK $10.21 $3.78 −63%
Motorola Solutions, Inc MSI $491.24 $236.33 −52%
Yangtze Optical Fibre And Cable Joint Stock Limited 601869 ¥400.03 ¥201.38 −50%
Suzhou TFC Optical Communication Co 300394 ¥276.25 ¥43.67 −84%
Telefonaktiebolaget LM Ericsson (publ), ERIC $10.13 $19.85 +96%
Accton Technology Corporation 2345 2,270 TWD 1,135 TWD −50%

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Frequently asked questions

Is AudioCodes Ltd (AUDC) overvalued or undervalued?
As of Sep 2, 2026, our model estimates a fair value of $9.85 versus a price of $9.99, about −1% upside (fairly valued).
What is the fair value of AUDC?
Our model-based fair value for AudioCodes Ltd is $9.85 (as of Sep 2, 2026), built from audited fundamentals. The current price: $9.99.
What is the quality score of AUDC?
AudioCodes Ltd has a Quality Score of 70/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of AudioCodes Ltd (AUDC)?
AudioCodes Ltd reported trailing-twelve-month revenue of about $247M (latest available figure, as of Sep 2, 2026).
What is the net profit margin of AUDC?
The net profit margin of AudioCodes Ltd is about 2.8%, meaning it keeps roughly 2.8% of revenue as net income. Based on the latest reported figures.
Does AudioCodes Ltd pay a dividend?
AudioCodes Ltd currently shows a dividend yield of about 4.00% relative to its recent price (as of Sep 2, 2026).
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