Allot Ltd.
ALLTdata completeness 88%17 fiscal years on fileData notes: no data for concept 'totalDebt'; no data for concept 'interestExpense'
Allot Ltd. earns about -36% on invested capital, below its ~9% cost of capital, but has diluted owners by 28% over 5 years — no moat visible in the numbers. The estimate methods put fair value between $1.41 and $1.5 a share.Whether it’s worth owning at today’s price is the last question — and yours to answer, below.
| Figure | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|
| Revenue | $145.6M1 | $122.7M2 | $93.2M3 | $92.2M3 | $102M3 |
| Net income | −$15M4 | −$32M5 | −$62.8M6 | −$5.87M6 | $3.71M6 |
| Operating cash flow | −$8.37M7 | −$32.6M8 | −$29.7M9 | $4.83M9 | $17.8M9 |
| Capital expenditure | $7.64M10 | $5.64M11 | $2.49M12 | $2.12M12 | $2.29M12 |
| Free cash flow (derived) | −$16M7 | −$38.2M8 | −$32.2M9 | $2.71M9 | $15.5M9 |
| Total debt | — | — | — | — | — |
| Cash & equivalents | $11.7M13 | $12.3M14 | $14.2M15 | $16.1M16 | $17.1M16 |
| Diluted shares | 36.1M | 37.0M | 37.9M | 38.9M | 46.2M |
Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom).
10 shares is a claim on $24.54 of net worth that earned you $0.8 and generated $3.36 of cash last year.
It earned about -36% on invested capital against a ~9% cost of capital — below the cost of funding. The numbers show no moat.
seeing a moat in the numbers →Share count is up 28% over 5 years — owners have been diluted. Worth asking what they got for it.
reading capital allocation →Signals, not verdicts — read from the filings above. Numbers don’t prove a moat; they show its footprint. You decide.
The 2 estimate methods that apply put fair value between $1.41 and $1.5 a share. They rest on different assumptions, so where they diverge is the story; the Graham Number is a stricter floor, not a target.
assumptions (10)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- terminalGrowth2.5%
- projectionYears10
- fcfGrowth5.0%
- fcfBase$2.71M
assumptions (10)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- terminalGrowth2.5%
- projectionYears5
- fcfGrowth5.0%
- fcfBase$2.71M
assumptions (1)
- grahamMultiplier2250.0%
Different models answer different questions — which to trust when →
| Bear | 0.0% | $1.21 |
| Base | 5.0% | $1.41 |
| Bull | 10.0% | $1.65 |
Bear/base/bull growth = 0% / filed history / history + 5pp. Type a price to see the return each case implies.
Default growth 5.0%= this company’s own filed history (median-to-median FCF CAGR, clamped 0–20%). Your adjustments are recorded anonymously. They become the “what do owners actually believe” dataset.
- 20-F · period ending 2021-12-31 · accession 0001178913-24-001297 (Revenues)
- 20-F · period ending 2022-12-31 · accession 0001178913-25-001069 (Revenues)
- 20-F/A · period ending 2023-12-31 · accession 0001178913-26-001946 (Revenues)
- 20-F · period ending 2021-12-31 · accession 0001178913-24-001297 (NetIncomeLoss)
- 20-F · period ending 2022-12-31 · accession 0001178913-25-001069 (NetIncomeLoss)
- 20-F/A · period ending 2023-12-31 · accession 0001178913-26-001946 (NetIncomeLoss)
- 20-F · period ending 2021-12-31 · accession 0001178913-24-001297 (NetCashProvidedByUsedInOperatingActivities)
- 20-F · period ending 2022-12-31 · accession 0001178913-25-001069 (NetCashProvidedByUsedInOperatingActivities)
- 20-F/A · period ending 2023-12-31 · accession 0001178913-26-001946 (NetCashProvidedByUsedInOperatingActivities)
- 20-F · period ending 2021-12-31 · accession 0001178913-24-001297 (PaymentsToAcquirePropertyPlantAndEquipment)
- 20-F · period ending 2022-12-31 · accession 0001178913-25-001069 (PaymentsToAcquirePropertyPlantAndEquipment)
- 20-F/A · period ending 2023-12-31 · accession 0001178913-26-001946 (PaymentsToAcquirePropertyPlantAndEquipment)
- 20-F · period ending 2021-12-31 · accession 0001178913-23-001145 (CashAndCashEquivalentsAtCarryingValue)
- 20-F · period ending 2022-12-31 · accession 0001178913-24-001297 (CashAndCashEquivalentsAtCarryingValue)
- 20-F · period ending 2023-12-31 · accession 0001178913-25-001069 (CashAndCashEquivalentsAtCarryingValue)
- 20-F/A · period ending 2024-12-31 · accession 0001178913-26-001946 (CashAndCashEquivalentsAtCarryingValue)