One-glance verdict
Undervalued
$23.13 our estimate vs market $12.15
Wall Street consensus: $15.36 (-33.6% lower than our fair-value estimate)
47% below our estimate, below the bear case
Fundamentals snapshot
Cellebrite DI Ltd.
CLBT · NMS · Technology · Software - Infrastructure
Current price
$12.15
52-week range
$9.58 - $19.98
Market cap
$3.05B
Balance sheet
Healthy
127.11x Strong cushion
Net cash $419.30M. Interest coverage shows how many times profit covers the interest bill.
What stands out
3 Rewards
1 Risk
3 rewards · 1 risks
- Reward Revenue grew 18.6% last year.
- Reward Returns 12.4% on equity, ahead of 50% of its peers.
- Reward Free cash flow was positive in 7/10 years.
- Risk Stock trades 61.2% above its 5-year average P/E.
What this company does
Cellebrite DI Ltd.
Cellebrite DI Ltd. helps law enforcement and companies investigate digital crimes by providing software to pull and analyze information from phones and computers. Their main money comes from selling these software tools and services. This is important because it helps catch criminals and solve cases faster.
How the company got here
Cellebrite was founded in Israel in 1999, initially creating tools for mobile phone data transfer for retail use. In 2007, the company shifted its focus to digital forensics, developing tools for law enforcement and intelligence agencies. A key development was the Universal Forensic Extraction Device (UFED), which allowed for the extraction of data from cell phones. Over the years, Cellebrite has expanded its offerings through acquisitions, such as BlackBag Technologies, to include computer forensics. The company went public in 2021, trading on the Nasdaq stock exchange.
What it actually does
Cellebrite provides software and services that help investigators access, collect, and analyze digital information. Think of it like a digital detective kit that can pull data from phones, computers, and other devices. This information is crucial for solving a wide range of cases, from criminal investigations to corporate security matters. Their solutions are used by law enforcement, government agencies, and businesses worldwide to make sense of digital evidence.
Digital Intelligence Platform
This is Cellebrite's core offering, a comprehensive suite of tools designed to manage and analyze digital evidence throughout an investigation. It includes software like Inseyets for accessing and decoding data, Guardian for managing evidence, and Pathfinder for uncovering leads through AI-powered analysis. These solutions are used by a variety of customers, including law enforcement agencies and corporate security teams, to streamline their investigative processes and accelerate justice. This segment represents the bulk of Cellebrite's business, serving a global customer base with a strong emphasis on government clients.
Corellium
Corellium is a segment that focuses on mobile security research and testing. It provides tools like Corellium Falcon and Viper, which allow security professionals to conduct vulnerability research, analyze malware, and perform penetration testing on mobile applications. This helps companies and security researchers identify and fix weaknesses in mobile software before they can be exploited. While a smaller part of Cellebrite's overall business, it addresses a critical need in the rapidly evolving cybersecurity landscape.
Professional Services
Beyond its software, Cellebrite offers professional services to help customers get the most out of its tools. This includes training and certification programs to ensure users are proficient in digital forensics techniques and Cellebrite's specific products. They also provide advanced services for more complex investigative needs. These services are essential for equipping investigators with the skills and knowledge required to effectively use Cellebrite's technology in their daily work.
What management is betting on now
Cellebrite's management is focused on advancing its product development, particularly by transitioning existing customers to its flagship Inseyets platform. They are also investing in enhancing other key products like Guardian and Pathfinder, while exploring new investigative solutions. A significant part of their strategy involves leveraging technology innovation, including artificial intelligence, to make digital data more accessible and actionable for investigators. The goal is to solidify their position as a leader in digital intelligence by continuously improving their offerings and expanding their capabilities.
Price history
How the share price has moved
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Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2024 Q4
$123.61M
FY2025 Q4
$160.32M
Revenue
$475.68M
Net income
$78.33M
Diluted EPS
0.31
Operating cash flow
$173.54M
Free cash flow
$160.32M
Fetching…
Sources
Revenue
$401.20M
Net income
$-283.01M
Diluted EPS
-1.35
Operating cash flow
$132.17M
Free cash flow
$123.61M
Fetching…
Sources
Is it cheap or expensive?
Fair value $23.13 vs current price $12.15
Wall Street consensus is the average analyst price target: $15.36 (-33.6% lower than our fair-value estimate).
Our most-likely fair value is $23.13 a share — about 90.4% above today's price of $12.15, so the stock currently looks cheap (undervalued).
Is it drowning in debt?
Healthy
Net cash $419.3M - more cash than debt. Interest coverage 127.1x.
Net debt
$-419.30M
Interest coverage
127.11x
Cellebrite DI Ltd.'s profit covers its interest bill about 127.1 times over. which is stronger than every peer shown here and 4 peers sit below 1x, which is the danger zone where profit does not fully cover the interest bill.
Healthy
Worse cushion
Baseline
Better cushion
CLBT
BASELINE
Cellebrite DI Ltd.
Total debt $23.23M Interest coverage 127.11x This is the baseline the peer rows are being compared against.
Total debt $1.85B Interest coverage -0.66x -100% vs CLBT This peer has almost no interest-payment cushion compared with CLBT.
Total debt $528.37M Interest coverage -22.31x -100% vs CLBT This peer has almost no interest-payment cushion compared with CLBT.
Total debt $5.97B Interest coverage 3.45x -97% vs CLBT Carries about 36.8x less debt cushion than CLBT.
Total debt $841.09M Interest coverage -0.21x -100% vs CLBT This peer has almost no interest-payment cushion compared with CLBT.
Total debt $412.82M Interest coverage 0.92x -99% vs CLBT Carries about 138.0x less debt cushion than CLBT.
What you should know
The case for and against CLBT
3 Rewards
1 Risk
Rewards
-
Revenue grew 18.6% last year.
-
Returns 12.4% on equity, ahead of 50% of its peers.
-
Free cash flow was positive in 7/10 years.
Risks
-
Stock trades 61.2% above its 5-year average P/E.
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
52.83x
Forward P/E
18.60x
P/B
5.66x
P/S
5.94x
EV/EBITDA
33.51x
PEG ratio
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Profitability
How much profit each dollar creates
Gross margin
83.0%
Operating margin
5.3%
Net margin
11.4%
ROE
12.4%
ROA
3.9%
Health
Liquidity and balance-sheet strength
Debt / equity
0.04x
Current ratio
1.62x
Quick ratio
1.52x
Total debt
$23.23M
Total cash
$442.53M
Growth
How the business has been compounding
Revenue TTM
$1.47B
Revenue 5Y CAGR
17.9%
EPS TTM
0.23
EPS 5Y CAGR
-19.3%
Cash flow
How much cash the business throws off
Operating CF TTM
$428.35M
Free CF TTM
$160.32M
FCF margin
10.9%
Dividend
Shareholder payout
Yield
0.0%
Payout ratio
0.0%
Last ex-div date
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