Calix, Inc. (CALX) · 10+ Years of Financial Ratios

Profitability	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Return on Common Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Assets (%)	-10.42	-7.44	-17.07	-7.7	-4.53	-5.52	-7.59	-8.07	-25.53	-6.3	-5.58	9	40.77	5.04	3.21
Return on Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	-5.37	- -	-10.4	-8.11
Return on Invested Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	16.82	- -	6.22	3.02
Gross Margin (%)	32.9	39.27	34.66	41.66	44.71	44.31	46.74	43.86	33.88	44.73	44.29	49.33	52.49	50.17	49.86
EBITDA Margin (%)	-3.52	-0.82	-3.86	-0.4	2.69	1.85	0.57	-4.03	-12.99	-2.34	-0.62	10.5	12.98	7.71	4.06
Operating Margin (%)	-8.3	-4.72	-11.43	-8.37	-4.82	-5.08	-6.51	-7.11	-15.15	-4.42	-3.05	7.97	10.77	6.06	2.46
Incremental Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	47.95	21.73	-10.9	-15.73
Pretax Margin (%)	-9.78	-6.44	-15.18	-8.53	-4.52	-5.04	-6.33	-5.9	-16.03	-4.25	-3.9	6.33	10.69	6.23	3.34
Profit Margin (%)	-9.63	-6.46	-15.25	-8.58	-4.51	-5.19	-6.46	-5.97	-16.27	-4.37	-4.17	6.19	35.09	4.73	2.82
Net Income to Common Margin (%)	-11.24	-6.78	-15.25	-8.58	-4.51	-5.19	-6.46	-5.97	-16.27	-4.37	-4.17	6.19	35.09	4.73	2.82
Effective Tax Rate (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	2.33	- -	24.11	15.63
Dvd Payout Ratio (%)	14.31	4.63	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Sustainable Growth Rate (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Credit	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Total Debt	20	- -	- -	- -	- -	- -	- -	- -	30	30	47	16	16	12	12
ST Debt	3	- -	- -	- -	- -	- -	- -	- -	30	30	33	3	4	4	4
LT Debt	17	- -	- -	- -	- -	- -	- -	- -	- -	- -	14	13	12	8	7
Total Debt/EBITDA	-2.44	- -	- -	- -	- -	- -	- -	- -	-0.45	-2.91	-18	0.28	0.18	0.19	0.27
Net Debt/EBITDA	1.44	28.26	2.92	35.76	-8.04	-6.56	-10.21	2.72	0.15	1.9	6.45	-1.37	-0.53	-1.18	-1.5
Total Debt/EBIT	-1.03	- -	- -	- -	- -	- -	- -	- -	-0.39	-1.54	-3.64	0.37	0.22	0.24	0.45
Net Debt/EBIT	0.61	4.9	0.99	1.7	4.48	2.4	0.89	1.54	0.13	1.01	1.3	-1.81	-0.64	-1.5	-2.48
EBITDA to Interest Expense	-2.12	-1.97	-72.39	-7.1	61.61	9.23	2.02	-31.62	414.48	-16.34	-2.73	35.87	219.31	- -	- -
EBITDA-CapEx/Interest Expense	-3.43	-6.7	-112.36	-62.12	19.77	-5.61	-4.34	-48.43	464.64	-32.84	-16.66	30.93	193.29	- -	- -
EBIT to Interest Expense	-5	-11.4	-214.1	-149.31	-110.5	-25.29	-23.17	-55.76	483.17	-30.88	-13.49	27.21	181.97	- -	- -
Interest Expense	4	1	- -	- -	- -	1	1	1	- -	1	1	2	- -	- -	- -
Common Equity/Total Assets	-162.61	-159.45	-129.29	-130.01	-132.57	-142.97	-171.54	-163.99	-225.69	-215.53	-221.27	-156.2	-57.83	-43.86	-38.09
Long-Term Debt/Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	9.31	4.62	2.18	1.24	1.03
Long-Term Debt/Capital (%)	-4.48	- -	- -	- -	- -	- -	- -	- -	- -	- -	-2.19	-1.99	-3	-2.25	-2.14
Long-Term Debt/Total Assets (%)	6.91	- -	- -	- -	- -	- -	- -	- -	- -	- -	4.53	3.03	1.67	0.95	0.79
Total Debt/Equity (%)	-5.89	- -	- -	- -	- -	- -	- -	- -	20.69	19.75	30.51	5.69	2.81	1.82	1.61
Total Debt/Capital (%)	-5.38	- -	- -	- -	- -	- -	- -	- -	-4.72	-4.59	-7.19	-2.45	-3.87	-3.3	-3.33
Total Debt/Total Assets (%)	8.29	- -	- -	- -	- -	- -	- -	- -	10.17	9.46	14.83	3.73	2.15	1.4	1.23
Net Debt to Equity	3.48	-33.95	-14.04	-17.47	-30.21	-17.91	-10.02	-23.65	-6.74	-12.93	-10.93	-27.78	-8.2	-11.64	-8.82
Net Debt/Capital (%)	2.93	13.9	7.76	8.73	13.99	8.45	4.08	7.95	1.45	2.79	2.4	10.63	10.03	17.39	15.44
EBITDA	-8	-2	-13	-1	10	7	2	-18	-66	-10	-3	57	88	67	42
EBITDA-CapEx	-13	-8	-21	-11	3	-5	-5	-28	-74	-21	-16	49	78	53	24
Operating Income (Loss)	-19	-14	-39	-28	-18	-20	-27	-33	-77	-20	-13	43	73	53	26

Liquidity	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Cash Ratio	0.89	1.95	0.59	0.51	0.92	1.47	1.09	0.64	0.31	0.35	0.41	1.32	1.59	1.46	1.17
Current Ratio	2.02	3.52	2.18	1.91	2.27	2.74	2.72	1.81	1.27	1.22	1.25	2.64	3.19	3.31	3.19
Quick Ratio	1.5	2.82	1.3	1.15	1.4	1.88	1.8	1.07	0.94	0.81	0.81	2.01	2.26	2.03	1.85
CFO/Avg Current Liab	0.02	0.14	0.25	0.35	0.45	0.46	-0.07	0.26	-0.5	0.03	0.04	0.47	0.5	0.19	0.32
Common Equity/Total Assets	-162.61	-159.45	-129.29	-130.01	-132.57	-142.97	-171.54	-163.99	-225.69	-215.53	-221.27	-156.2	-57.83	-43.86	-38.09
Long-Term Debt/Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	9.31	4.62	2.18	1.24	1.03
Long-Term Debt/Capital (%)	-4.48	- -	- -	- -	- -	- -	- -	- -	- -	- -	-2.19	-1.99	-3	-2.25	-2.14
Long-Term Debt/Total Assets (%)	6.91	- -	- -	- -	- -	- -	- -	- -	- -	- -	4.53	3.03	1.67	0.95	0.79
Total Debt/Equity (%)	-5.89	- -	- -	- -	- -	- -	- -	- -	20.69	19.75	30.51	5.69	2.81	1.82	1.61
Total Debt/Capital (%)	-5.38	- -	- -	- -	- -	- -	- -	- -	-4.72	-4.59	-7.19	-2.45	-3.87	-3.3	-3.33
Total Debt/Total Assets (%)	8.29	- -	- -	- -	- -	- -	- -	- -	10.17	9.46	14.83	3.73	2.15	1.4	1.23
CFO/Total Liabilities	0.24	14.74	18.08	25.43	37.22	39	-6.06	17.13	-41.82	2.16	2.86	34.97	32.71	13.24	25.24
CFO/CapEx	0.27	1.63	1.98	2.72	5.84	3.18	-0.73	2.48	-7.82	0.34	0.35	6.57	5.43	1.93	3.15
Altman's Z-Score	-1.7	5.41	- -	0.27	1.48	2.11	1.04	0.13	-2.3	-0.88	-1.32	7.49	18.5	14.27	9.01

Working Capital	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Accounts Receivable Turnover	5.84	6.35	7.67	6.23	7.43	10.81	10.46	9.32	7.75	5.99	7.47	9.34	8.79	9.7	9.46
Days Sales Outstanding	62.5	57.46	47.59	58.6	49.15	33.78	34.89	39.18	47.1	60.96	48.83	39.09	41.54	37.65	38.59
Inventory Turnover	7.45	8.09	6.45	4.35	4.48	4.57	4.6	5.59	8.87	5.97	5.24	5.93	4.57	3.63	3.7
Days Inventory Outstanding	48.98	45.14	56.55	83.85	81.4	79.9	79.4	65.34	41.14	61.11	69.71	61.51	79.8	100.47	98.78
Accounts Payable Turnover	9.14	14.48	20.06	12.28	10.98	9.37	10.08	11.72	10.85	6.89	8.88	23.96	17.04	13.98	13.27
Accounts Payable Turnover Days	39.91	25.2	18.2	29.72	33.26	38.97	36.2	31.15	33.64	52.96	41.11	15.24	21.42	26.1	27.52
Cash Conversion Cycle	71.57	77.39	85.95	112.73	97.29	74.71	78.09	73.37	54.61	69.11	77.44	85.36	99.92	112.01	109.86
Inventory to Cash Days	13.51	12.32	-8.96	-25.25	-32.25	-46.12	-44.51	-26.16	5.96	-0.15	-20.88	-22.42	-38.26	-62.82	-60.19
Inventories	19	25	45	43	51	47	48	45	32	50	40	52	89	149	133
Raw Materials	- -	- -	3	9	7	3	2	2	1	11	1	- -	- -	1	22
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	42	34	44	44	45	43	30	39	39	52	89	149	111
Other Inventory	19	25	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Market Capitalization	- -	660	284	366	479	521	388	378	317	503	461	1,879	5,047	4,459	2,848
- Cash & Cash Equivalents	32	66	39	47	83	49	24	50	40	50	47	81	51	79	63
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	20	- -	- -	- -	- -	- -	- -	- -	30	30	47	16	16	12	12
Enterprise Value	-48	562	245	319	396	410	314	300	307	483	461	1,761	4,858	4,229	2,639
Total Capital	-372	-411	-463	-491	-509	-529	-556	-583	-636	-653	-654	-652	-413	-376	-347
Total Debt/Capital (%)	-5.38	- -	- -	- -	- -	- -	- -	- -	-4.72	-4.59	-7.19	-2.45	-3.87	-3.3	-3.33
Total Debt / EV	-0.42	- -	- -	- -	- -	- -	- -	- -	0.1	0.06	0.1	0.01	- -	- -	- -
EV/Sales	- -	1.96	0.71	0.97	1.04	1.02	0.77	0.65	0.6	1.09	1.09	3.25	7.15	4.87	2.54
EV/EBITDA	- -	- -	- -	- -	38.53	55.08	135.78	- -	- -	- -	- -	30.98	55.11	63.2	62.52
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	40.84	66.42	80.39	103.15
EV/Cash Flow to Firm	- -	54.17	16.56	11.46	9.67	10.53	- -	11.98	- -	114.78	81.13	33.26	83.6	155.59	46.92
EV/Free Cash Flow to Firm	- -	35.14	11.06	8.39	8.26	8.06	101.16	8.6	- -	33.02	24.21	28.98	70.85	102.53	35.61
Diluted Market Cap	- -	508	270	361	471	513	403	373	308	490	449	1,875	5,328	4,674	3,035
Diluted Enterprise Value	-12	441	231	314	389	464	380	322	299	471	449	1,811	5,293	4,608	2,983
EV per Share	- -	14.51	5.12	6.53	7.89	7.94	6.34	6.07	5.96	8.96	8.16	28.35	75.59	64.34	40.57
TTM Sales	233	287	345	330	383	401	407	459	510	441	424	541	679	868	1,040
TTM EBITDA	-8	-2	-13	-1	10	7	2	-18	-66	-10	-3	57	88	67	42
TTM Operating Income	-19	-14	-39	-28	-18	-20	-27	-33	-77	-20	-13	43	73	53	26
TTM Cash Flow to Firm	5	10	15	28	41	39	-4	25	-63	4	6	53	58	27	56
TTM Free Cash Flow to Firm	10	16	22	38	48	51	3	35	-55	15	19	61	69	41	74

Multiples	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Price/Earnings	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	53.37	20.84	107.61	98.5
Price/Earnings Average	- -	-19.19	-13.43	-12.33	-29.03	-21.87	-15.88	-12.75	-3.87	-20.32	-22.74	28.11	12.78	82.87	105.94
Price/Earnings High	- -	-25.98	-19.09	-19.75	-38.41	-27.56	-19.79	-14.08	-4.55	-28.65	-33.91	56.31	20.81	121.88	155.74
Price/Earnings Low	- -	-15.15	-4.87	-7.38	-21.15	-18.11	-13.51	-10.08	-2.81	-15.4	-17.56	10.37	7.75	51.27	73.6
Price/Book Value	- -	-1.61	-0.61	-0.75	-0.94	-0.99	-0.7	-0.65	-0.48	-0.74	-0.66	-2.82	-11.76	-11.49	-7.94
Price/Book Value Average	- -	-1.18	-1.6	-0.72	-1	-0.87	-0.72	-0.61	-0.5	-0.59	-0.59	-1.48	-7.21	-8.85	-8.54
Price/Book Value High	- -	-1.6	-2.28	-1.16	-1.33	-1.1	-0.9	-0.67	-0.58	-0.83	-0.88	-2.97	-11.74	-13.01	-12.55
Price/Book Value Low	- -	-0.93	-0.58	-0.43	-0.73	-0.72	-0.62	-0.48	-0.36	-0.45	-0.45	-0.55	-4.37	-5.47	-5.93
Price/Tangible Book Value	- -	5.11	3.49	4.04	4.2	3.97	3.43	3.9	11	14.06	17.92	12.15	11.33	7.91	4.72
Price/Tangible Book Value Average	- -	3.76	9.13	3.91	4.47	3.53	3.56	3.66	11.47	11.24	16.06	6.4	6.95	6.09	5.08
Price/Tangible Book Value High	- -	5.08	12.98	6.27	5.91	4.44	4.43	4.04	13.47	15.86	23.96	12.82	11.31	8.96	7.47
Price/Tangible Book Value Low	- -	2.97	3.31	2.34	3.26	2.92	3.03	2.89	8.32	8.53	12.41	2.36	4.21	3.77	3.53
Price/Sales	- -	1.77	0.78	1.09	1.23	1.28	0.99	0.81	0.6	1.11	1.06	3.3	7.31	5.08	2.78
Price/Sales Average	- -	1.3	2.05	1.06	1.31	1.13	1.03	0.76	0.63	0.89	0.95	1.74	4.48	3.92	2.99
Price/Sales High	- -	1.76	2.91	1.69	1.73	1.43	1.28	0.84	0.74	1.25	1.41	3.48	7.3	5.76	4.39
Price/Sales Low	- -	1.03	0.74	0.63	0.95	0.94	0.87	0.6	0.46	0.67	0.73	0.64	2.72	2.42	2.08
Price/Cash Flow	- -	55.33	18.51	13.04	11.55	13.48	-75.48	15.27	-4.91	137.73	96.42	34.76	87.48	162.34	51.35
Price/Cash Flow Average	- -	40.69	48.37	12.62	12.28	11.96	-78.32	14.31	-5.12	110.13	86.44	18.31	53.63	125.02	55.23
Price/Cash Flow High	- -	55.07	68.78	20.21	16.25	15.07	-97.56	15.8	-6.02	155.31	128.92	36.68	87.34	183.88	81.19
Price/Cash Flow Low	- -	32.13	17.55	7.55	8.95	9.9	-66.61	11.31	-3.72	83.49	66.76	6.76	32.52	77.35	38.37
Price/Free Cash Flow	- -	34.33	12.31	9.53	9.86	10.26	208.14	10.88	-5.63	35.06	24.92	31.66	79.22	113.31	40.95
Price/Free Cash Flow Average	- -	25.24	32.16	9.23	10.48	9.1	215.95	10.2	-5.87	28.03	22.34	16.68	48.56	87.26	44.04
Price/Free Cash Flow High	- -	34.17	45.72	14.78	13.87	11.46	269.01	11.27	-6.9	39.53	33.32	33.41	79.09	128.35	64.75
Price/Free Cash Flow Low	- -	19.93	11.66	5.52	7.64	7.53	183.68	8.07	-4.26	21.25	17.25	6.15	29.45	53.99	30.6
EV/Sales	- -	1.96	0.71	0.97	1.04	1.02	0.77	0.65	0.6	1.09	1.09	3.25	7.15	4.87	2.54
EV/Sales Average	- -	1.46	2.04	0.93	1.11	1.03	0.93	0.66	0.63	0.87	0.97	1.71	4.5	3.88	2.9
EV/Sales High	- -	2.06	2.94	1.58	1.55	1.33	1.17	0.74	0.74	1.24	1.45	3.54	7.36	5.74	4.28
EV/Sales Low	- -	1.1	0.67	0.5	0.75	0.83	0.78	0.5	0.45	0.65	0.75	0.56	2.71	2.37	2
EV/EBITDA	- -	- -	- -	- -	38.53	55.08	135.78	- -	- -	- -	- -	30.98	55.11	63.2	62.52
EV/EBITDA Average	1.44	-178.63	-52.71	-234.1	41.46	55.62	163.68	-16.43	-4.83	-37.04	-158.22	16.27	34.69	50.31	71.32
EV/EBITDA High	1.44	-251.76	-76.18	-396.29	57.47	71.78	206.4	-18.43	-5.7	-53.01	-235.93	33.74	56.75	74.47	105.44
EV/EBITDA Low	1.44	-135.1	-17.26	-125.74	28.03	44.93	137.69	-12.42	-3.46	-27.62	-122.21	5.28	20.88	30.75	49.18
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	40.84	66.42	80.39	103.15
EV/EBIT Average	0.61	-30.95	-17.82	-11.14	-23.12	-20.3	-14.28	-9.32	-4.14	-19.6	-31.96	21.44	41.81	64	117.69
EV/EBIT High	0.61	-43.62	-25.76	-18.85	-32.04	-26.2	-18.01	-10.45	-4.89	-28.05	-47.65	44.47	68.39	94.73	173.97
EV/EBIT Low	0.61	-23.41	-5.83	-5.98	-15.63	-16.4	-12.01	-7.04	-2.97	-14.62	-24.68	6.96	25.16	39.12	81.14
Last Price	- -	17.05	5.93	7.49	9.54	10.1	7.83	7.65	6.15	9.32	8.16	30.25	78.52	67.83	43.78
High Price	- -	16.97	22.03	11.61	13.42	11.29	10.12	7.92	7.53	10.51	10.91	31.92	78.39	76.83	69.22
Low Price	- -	9.9	5.62	4.34	7.39	7.42	6.91	5.67	4.65	5.65	5.65	5.88	29.19	32.32	32.71
Enterprise Value	-48	562	245	319	396	410	314	300	307	483	461	1,761	4,858	4,229	2,639
Enterprise Value Average	-12	419	702	308	427	414	379	304	320	382	413	925	3,058	3,367	3,011
Enterprise Value High	-12	591	1,015	521	591	534	477	341	378	547	616	1,918	5,003	4,984	4,451
Enterprise Value Low	-12	317	230	165	288	334	318	230	230	285	319	300	1,841	2,058	2,076

Per Share Data Items	2009 Y	2010 Y	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Shares Outstanding	36	39	48	49	50	52	50	49	52	54	56	62	64	66	65
Diluted Weighted Avg Shares	4	30	46	48	49	51	51	49	50	53	55	62	68	69	69
Basic Weighted Avg Shares	4	30	46	48	49	51	51	49	50	53	55	59	63	65	66
Revenue per Share	57.66	9.64	7.57	6.85	7.74	7.9	7.91	9.41	10.18	8.39	7.72	9.16	10.74	13.34	15.76
EBITDA per Share	-2.03	-0.08	-0.29	-0.03	0.21	0.15	0.04	-0.38	-1.32	-0.2	-0.05	0.96	1.39	1.03	0.64
Operating Income per Share	-4.78	-0.45	-0.86	-0.57	-0.37	-0.4	-0.51	-0.67	-1.54	-0.37	-0.24	0.73	1.16	0.81	0.39
Basic EPS, GAAP	-6.48	-0.65	-1.15	-0.59	-0.35	-0.41	-0.51	-0.56	-1.66	-0.37	-0.32	0.57	3.77	0.63	0.44
Basic EPS from Cont Ops	-5.55	-0.62	-1.15	-0.59	-0.35	-0.41	-0.51	-0.56	-1.66	-0.37	-0.32	0.57	3.77	0.63	0.44
Diluted EPS, GAAP	-6.48	-0.65	-1.15	-0.59	-0.35	-0.41	-0.51	-0.56	-1.66	-0.37	-0.32	0.54	3.51	0.6	0.42
Diluted EPS from Cont Ops	-5.55	-0.62	-1.15	-0.59	-0.35	-0.41	-0.51	-0.56	-1.66	-0.37	-0.32	0.54	3.51	0.6	0.42
Dividend per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Flow per Share	0.34	0.31	0.32	0.57	0.83	0.75	-0.1	0.5	-1.25	0.07	0.08	0.87	0.9	0.42	0.85
Free Cash Flow per Basic Share	-0.91	0.12	0.16	0.36	0.68	0.51	-0.25	0.3	-1.41	-0.13	-0.16	0.74	0.73	0.2	0.58
Cash & Equivalents per Share	1.87	2.54	0.81	0.96	1.65	2.16	1.49	1.58	0.77	0.92	0.83	2.15	3.18	3.68	3.39
Book Value per Share	-10.8	-10.61	-9.68	-10.05	-10.12	-10.25	-11.22	-11.8	-12.93	-12.67	-12.42	-10.75	-6.68	-5.9	-5.51
Tangible Book Value per Share	-11.34	3.34	1.7	1.85	2.27	2.54	2.28	1.96	0.56	0.66	0.46	2.49	6.93	8.57	9.27

Calix, Inc.

CALX US

35.24