Intrinsic value of Extreme Networks - EXTR

Previous Close

$5.92

  Intrinsic Value

$569.17

stock screener

  Rating & Target

str. buy

+999%

Previous close

$5.92

 
Intrinsic value

$569.17

 
Up/down potential

+999%

 
Rating

str. buy

We calculate the intrinsic value of EXTR stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 0.7

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  60.00
  54.50
  49.55
  45.10
  41.09
  37.48
  34.23
  31.31
  28.68
  26.31
  24.18
  22.26
  20.53
  18.98
  17.58
  16.32
  15.19
  14.17
  13.26
  12.43
  11.69
  11.02
  10.42
  9.87
  9.39
  8.95
  8.55
  8.20
  7.88
  7.59
Revenue, $m
  957
  1,479
  2,211
  3,208
  4,526
  6,223
  8,353
  10,968
  14,113
  17,826
  22,136
  27,063
  32,620
  38,811
  45,635
  53,084
  61,149
  69,815
  79,069
  88,897
  99,286
  110,226
  121,707
  133,725
  146,278
  159,368
  172,999
  187,182
  201,929
  217,257
Variable operating expenses, $m
  611
  938
  1,398
  2,023
  2,850
  3,914
  5,251
  6,891
  8,864
  11,194
  13,887
  16,978
  20,464
  24,348
  28,629
  33,303
  38,362
  43,799
  49,604
  55,770
  62,288
  69,150
  76,353
  83,893
  91,768
  99,980
  108,532
  117,429
  126,681
  136,297
Fixed operating expenses, $m
  223
  228
  233
  238
  243
  248
  254
  259
  265
  271
  277
  283
  289
  296
  302
  309
  316
  323
  330
  337
  344
  352
  360
  368
  376
  384
  392
  401
  410
  419
Total operating expenses, $m
  834
  1,166
  1,631
  2,261
  3,093
  4,162
  5,505
  7,150
  9,129
  11,465
  14,164
  17,261
  20,753
  24,644
  28,931
  33,612
  38,678
  44,122
  49,934
  56,107
  62,632
  69,502
  76,713
  84,261
  92,144
  100,364
  108,924
  117,830
  127,091
  136,716
Operating income, $m
  123
  313
  581
  947
  1,433
  2,060
  2,848
  3,817
  4,983
  6,361
  7,972
  9,802
  11,866
  14,167
  16,704
  19,473
  22,471
  25,694
  29,135
  32,790
  36,655
  40,723
  44,994
  49,465
  54,135
  59,004
  64,076
  69,352
  74,839
  80,542
EBITDA, $m
  159
  362
  650
  1,042
  1,563
  2,235
  3,079
  4,117
  5,367
  6,842
  8,556
  10,516
  12,728
  15,192
  17,908
  20,874
  24,086
  27,537
  31,223
  35,137
  39,276
  43,633
  48,207
  52,995
  57,996
  63,211
  68,643
  74,294
  80,170
  86,277
Interest expense (income), $m
  3
  5
  16
  32
  55
  85
  126
  178
  243
  324
  420
  535
  667
  818
  989
  1,180
  1,389
  1,618
  1,866
  2,132
  2,417
  2,719
  3,038
  3,374
  3,727
  4,097
  4,482
  4,885
  5,304
  5,740
  6,193
Earnings before tax, $m
  118
  297
  549
  892
  1,348
  1,934
  2,670
  3,574
  4,660
  5,941
  7,437
  9,135
  11,048
  13,178
  15,524
  18,084
  20,853
  23,828
  27,003
  30,374
  33,936
  37,685
  41,620
  45,738
  50,038
  54,522
  59,191
  64,048
  69,099
  74,349
Tax expense, $m
  32
  80
  148
  241
  364
  522
  721
  965
  1,258
  1,604
  2,008
  2,466
  2,983
  3,558
  4,191
  4,883
  5,630
  6,433
  7,291
  8,201
  9,163
  10,175
  11,237
  12,349
  13,510
  14,721
  15,982
  17,293
  18,657
  20,074
Net income, $m
  86
  217
  400
  652
  984
  1,412
  1,949
  2,609
  3,402
  4,337
  5,429
  6,668
  8,065
  9,620
  11,333
  13,201
  15,223
  17,394
  19,712
  22,173
  24,773
  27,510
  30,382
  33,388
  36,528
  39,801
  43,209
  46,755
  50,442
  54,275

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  736
  1,136
  1,700
  2,466
  3,479
  4,783
  6,420
  8,430
  10,848
  13,702
  17,014
  20,802
  25,073
  29,832
  35,077
  40,803
  47,001
  53,663
  60,776
  68,330
  76,315
  84,724
  93,549
  102,786
  112,435
  122,496
  132,974
  143,876
  155,211
  166,992
Adjusted assets (=assets-cash), $m
  736
  1,136
  1,700
  2,466
  3,479
  4,783
  6,420
  8,430
  10,848
  13,702
  17,014
  20,802
  25,073
  29,832
  35,077
  40,803
  47,001
  53,663
  60,776
  68,330
  76,315
  84,724
  93,549
  102,786
  112,435
  122,496
  132,974
  143,876
  155,211
  166,992
Revenue / Adjusted assets
  1.300
  1.302
  1.301
  1.301
  1.301
  1.301
  1.301
  1.301
  1.301
  1.301
  1.301
  1.301
  1.301
  1.301
  1.301
  1.301
  1.301
  1.301
  1.301
  1.301
  1.301
  1.301
  1.301
  1.301
  1.301
  1.301
  1.301
  1.301
  1.301
  1.301
Average production assets, $m
  126
  195
  292
  423
  597
  821
  1,103
  1,448
  1,863
  2,353
  2,922
  3,572
  4,306
  5,123
  6,024
  7,007
  8,072
  9,216
  10,437
  11,734
  13,106
  14,550
  16,065
  17,652
  19,309
  21,037
  22,836
  24,708
  26,655
  28,678
Working capital, $m
  -52
  -80
  -119
  -173
  -244
  -336
  -451
  -592
  -762
  -963
  -1,195
  -1,461
  -1,761
  -2,096
  -2,464
  -2,867
  -3,302
  -3,770
  -4,270
  -4,800
  -5,361
  -5,952
  -6,572
  -7,221
  -7,899
  -8,606
  -9,342
  -10,108
  -10,904
  -11,732
Total debt, $m
  293
  585
  994
  1,551
  2,288
  3,236
  4,426
  5,887
  7,645
  9,720
  12,128
  14,881
  17,987
  21,446
  25,260
  29,422
  33,929
  38,771
  43,943
  49,434
  55,240
  61,353
  67,769
  74,484
  81,499
  88,814
  96,431
  104,356
  112,597
  121,162
Total liabilities, $m
  535
  826
  1,236
  1,793
  2,529
  3,477
  4,668
  6,129
  7,886
  9,961
  12,369
  15,123
  18,228
  21,688
  25,501
  29,664
  34,170
  39,013
  44,184
  49,676
  55,481
  61,594
  68,010
  74,726
  81,740
  89,055
  96,672
  104,598
  112,838
  121,403
Total equity, $m
  201
  310
  464
  673
  950
  1,306
  1,753
  2,301
  2,961
  3,741
  4,645
  5,679
  6,845
  8,144
  9,576
  11,139
  12,831
  14,650
  16,592
  18,654
  20,834
  23,130
  25,539
  28,061
  30,695
  33,442
  36,302
  39,278
  42,373
  45,589
Total liabilities and equity, $m
  736
  1,136
  1,700
  2,466
  3,479
  4,783
  6,421
  8,430
  10,847
  13,702
  17,014
  20,802
  25,073
  29,832
  35,077
  40,803
  47,001
  53,663
  60,776
  68,330
  76,315
  84,724
  93,549
  102,787
  112,435
  122,497
  132,974
  143,876
  155,211
  166,992
Debt-to-equity ratio
  1.460
  1.890
  2.140
  2.300
  2.410
  2.480
  2.530
  2.560
  2.580
  2.600
  2.610
  2.620
  2.630
  2.630
  2.640
  2.640
  2.640
  2.650
  2.650
  2.650
  2.650
  2.650
  2.650
  2.650
  2.660
  2.660
  2.660
  2.660
  2.660
  2.660
Adjusted equity ratio
  0.273
  0.273
  0.273
  0.273
  0.273
  0.273
  0.273
  0.273
  0.273
  0.273
  0.273
  0.273
  0.273
  0.273
  0.273
  0.273
  0.273
  0.273
  0.273
  0.273
  0.273
  0.273
  0.273
  0.273
  0.273
  0.273
  0.273
  0.273
  0.273
  0.273

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  86
  217
  400
  652
  984
  1,412
  1,949
  2,609
  3,402
  4,337
  5,429
  6,668
  8,065
  9,620
  11,333
  13,201
  15,223
  17,394
  19,712
  22,173
  24,773
  27,510
  30,382
  33,388
  36,528
  39,801
  43,209
  46,755
  50,442
  54,275
Depreciation, amort., depletion, $m
  36
  50
  69
  95
  130
  175
  231
  300
  383
  481
  584
  714
  861
  1,025
  1,205
  1,401
  1,614
  1,843
  2,087
  2,347
  2,621
  2,910
  3,213
  3,530
  3,862
  4,207
  4,567
  4,942
  5,331
  5,736
Funds from operations, $m
  122
  266
  469
  747
  1,114
  1,587
  2,180
  2,909
  3,785
  4,818
  6,014
  7,383
  8,926
  10,645
  12,537
  14,603
  16,837
  19,237
  21,800
  24,520
  27,394
  30,420
  33,596
  36,919
  40,389
  44,008
  47,776
  51,697
  55,773
  60,010
Change in working capital, $m
  -19
  -28
  -40
  -54
  -71
  -92
  -115
  -141
  -170
  -200
  -233
  -266
  -300
  -334
  -368
  -402
  -435
  -468
  -500
  -531
  -561
  -591
  -620
  -649
  -678
  -707
  -736
  -766
  -796
  -828
Cash from operations, $m
  141
  294
  509
  801
  1,185
  1,678
  2,295
  3,050
  3,954
  5,018
  6,246
  7,649
  9,226
  10,979
  12,906
  15,005
  17,273
  19,705
  22,299
  25,050
  27,955
  31,011
  34,216
  37,568
  41,067
  44,715
  48,513
  52,463
  56,570
  60,838
Maintenance CAPEX, $m
  -16
  -25
  -39
  -58
  -85
  -119
  -164
  -221
  -290
  -373
  -471
  -584
  -714
  -861
  -1,025
  -1,205
  -1,401
  -1,614
  -1,843
  -2,087
  -2,347
  -2,621
  -2,910
  -3,213
  -3,530
  -3,862
  -4,207
  -4,567
  -4,942
  -5,331
New CAPEX, $m
  -47
  -69
  -97
  -132
  -174
  -224
  -281
  -345
  -415
  -490
  -569
  -650
  -734
  -817
  -901
  -983
  -1,064
  -1,144
  -1,222
  -1,297
  -1,371
  -1,444
  -1,516
  -1,586
  -1,657
  -1,728
  -1,799
  -1,872
  -1,947
  -2,023
Cash from investing activities, $m
  -63
  -94
  -136
  -190
  -259
  -343
  -445
  -566
  -705
  -863
  -1,040
  -1,234
  -1,448
  -1,678
  -1,926
  -2,188
  -2,465
  -2,758
  -3,065
  -3,384
  -3,718
  -4,065
  -4,426
  -4,799
  -5,187
  -5,590
  -6,006
  -6,439
  -6,889
  -7,354
Free cash flow, $m
  78
  200
  373
  611
  926
  1,335
  1,850
  2,484
  3,250
  4,156
  5,207
  6,414
  7,778
  9,300
  10,980
  12,817
  14,807
  16,947
  19,235
  21,666
  24,237
  26,946
  29,790
  32,768
  35,880
  39,125
  42,506
  46,024
  49,681
  53,484
Issuance/(repayment) of debt, $m
  201
  291
  409
  557
  737
  948
  1,190
  1,461
  1,757
  2,075
  2,408
  2,753
  3,105
  3,460
  3,813
  4,163
  4,506
  4,843
  5,171
  5,492
  5,805
  6,113
  6,416
  6,716
  7,015
  7,314
  7,617
  7,925
  8,241
  8,565
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  201
  291
  409
  557
  737
  948
  1,190
  1,461
  1,757
  2,075
  2,408
  2,753
  3,105
  3,460
  3,813
  4,163
  4,506
  4,843
  5,171
  5,492
  5,805
  6,113
  6,416
  6,716
  7,015
  7,314
  7,617
  7,925
  8,241
  8,565
Total cash flow (excl. dividends), $m
  279
  492
  783
  1,168
  1,663
  2,283
  3,040
  3,946
  5,007
  6,230
  7,615
  9,168
  10,883
  12,760
  14,794
  16,979
  19,313
  21,790
  24,406
  27,158
  30,042
  33,059
  36,206
  39,484
  42,895
  46,440
  50,123
  53,949
  57,922
  62,049
Retained Cash Flow (-), $m
  -75
  -109
  -154
  -209
  -277
  -356
  -447
  -549
  -660
  -779
  -904
  -1,034
  -1,166
  -1,299
  -1,432
  -1,563
  -1,692
  -1,819
  -1,942
  -2,062
  -2,180
  -2,296
  -2,409
  -2,522
  -2,634
  -2,747
  -2,860
  -2,976
  -3,094
  -3,216
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  204
  382
  629
  959
  1,386
  1,927
  2,593
  3,397
  4,347
  5,451
  6,711
  8,134
  9,717
  11,461
  13,362
  15,416
  17,621
  19,971
  22,464
  25,095
  27,862
  30,763
  33,797
  36,962
  40,260
  43,693
  47,263
  50,973
  54,828
  58,832
Discount rate, %
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
  196
  350
  547
  789
  1,075
  1,398
  1,752
  2,123
  2,497
  2,858
  3,187
  3,471
  3,695
  3,848
  3,923
  3,918
  3,834
  3,678
  3,459
  3,189
  2,882
  2,553
  2,215
  1,883
  1,566
  1,275
  1,014
  789
  598
  443
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Extreme Networks, Inc. is a provider of network infrastructure equipment. The Company markets its products to business, governmental, healthcare, service provider and educational customers with a focus on corporate enterprises and metropolitan service providers on a global basis. The Company operates through the development and marketing of network infrastructure equipment segment. The Company's products include ExtremeWireless, ExtremeSwitching, ExtremeControl, ExtremeManagement, ExtremeCloud, ExtremeAnalytics and ExtremeSecurity. The Company offers solutions in categories, which includes industry solutions, technology solutions and managed services solutions. The Company operates in three geographical areas: Americas, which includes the United States, Canada, Mexico, Central America and South America; EMEA, which includes Europe, Russia, Middle East and Africa, and APAC, which includes Asia Pacific, South Asia, India, Australia and Japan.

FINANCIAL RATIOS  of  Extreme Networks (EXTR)

Valuation Ratios
P/E Ratio -73
Price to Sales 1.1
Price to Book 5.2
Price to Tangible Book
Price to Cash Flow 11.1
Price to Free Cash Flow 13.4
Growth Rates
Sales Growth Rate 13.3%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 100%
Cap. Spend. - 3 Yr. Gr. Rate -14.6%
Financial Strength
Quick Ratio 11
Current Ratio 0
LT Debt to Equity 64.3%
Total Debt to Equity 73.8%
Interest Coverage 0
Management Effectiveness
Return On Assets -0.5%
Ret/ On Assets - 3 Yr. Avg. -7.4%
Return On Total Capital -4.9%
Ret/ On T. Cap. - 3 Yr. Avg. -19.1%
Return On Equity -8.3%
Return On Equity - 3 Yr. Avg. -32.2%
Asset Turnover 1.4
Profitability Ratios
Gross Margin 54.2%
Gross Margin - 3 Yr. Avg. 52%
EBITDA Margin 4.3%
EBITDA Margin - 3 Yr. Avg. 1.6%
Operating Margin -0.2%
Oper. Margin - 3 Yr. Avg. -5.5%
Pre-Tax Margin -0.7%
Pre-Tax Margin - 3 Yr. Avg. -6%
Net Profit Margin -1.5%
Net Profit Margin - 3 Yr. Avg. -6.9%
Effective Tax Rate -125%
Eff/ Tax Rate - 3 Yr. Avg. -48.9%
Payout Ratio 0%

EXTR stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the EXTR stock intrinsic value calculation we used $598.118 million for the last fiscal year's total revenue generated by Extreme Networks. The default revenue input number comes from 0001 income statement of Extreme Networks. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our EXTR stock valuation model: a) initial revenue growth rate of 60% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for EXTR is calculated based on our internal credit rating of Extreme Networks, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Extreme Networks.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of EXTR stock the variable cost ratio is equal to 64.5%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $218 million in the base year in the intrinsic value calculation for EXTR stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.5% for Extreme Networks.

Corporate tax rate of 27% is the nominal tax rate for Extreme Networks. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the EXTR stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for EXTR are equal to 13.2%.

Life of production assets of 4.9 years is the average useful life of capital assets used in Extreme Networks operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for EXTR is equal to -5.4%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $125.678 million for Extreme Networks - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 115.893 million for Extreme Networks is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Extreme Networks at the current share price and the inputted number of shares is $0.7 billion.

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COMPANY NEWS

▶ Why Extreme Networks Shares Plunged as Much as 40% Today   [Aug-08-18 01:01PM  Motley Fool]
▶ Extreme Networks: Fiscal 4Q Earnings Snapshot   [09:14AM  Associated Press]
▶ 3 Top Small-Cap Stocks to Buy Right Now   [Jul-24-18 12:30PM  Motley Fool]
▶ 3 Growth Stocks for the Long Term   [Jun-14-18 02:04PM  Motley Fool]
▶ Should You Follow Insiders Into Extreme Networks Stock?   [May-30-18 09:46PM  Motley Fool]
▶ Heavy Insider Buying Says These 3 Stocks Are Ultra Cheap   [May-29-18 08:44AM  Insider Monkey]
▶ Why Extreme Networks, Inc. Stock Is Plunging Today   [May-09-18 04:30PM  Motley Fool]
▶ Extreme Networks: Fiscal 3Q Earnings Snapshot   [May-08-18 06:03PM  Associated Press]
▶ The Shuman Law Firm Investigates Extreme Networks, Inc.   [Apr-23-18 10:39AM  Business Wire]
▶ Networking Gear Firms Ride Cloud Computing, AI Growth Trends   [Feb-08-18 05:37PM  Investor's Business Daily]
▶ How Extreme Networks, Inc. Stock Rose 20% in January   [Feb-07-18 10:51PM  Motley Fool]
▶ Extreme Networks reports 2Q loss   [Feb-06-18 06:29PM  Associated Press]
▶ Extreme Networks (EXTR) Jumps: Stock Rises 9.6%   [Jan-31-18 08:51AM  Zacks]
▶ Anatomy of Success: Extreme Networks (EXTR)   [Jan-23-18 01:58PM  Zacks]
▶ [$$] Buying Facebook, Mosaic and Extreme Networks   [Jan-09-18 05:29AM  Barrons.com]
▶ Why Extreme Networks, Inc Stock Rose 149% in 2017   [Jan-05-18 02:45PM  Motley Fool]
▶ 3 Top Stocks That Aren't on Wall Street's Radar   [Jan-02-18 11:43AM  Motley Fool]
▶ 3 Tech Stocks to Buy for 2018   [Dec-15-17 09:33AM  Motley Fool]
▶ 3 High-Growth Tech Stocks to Buy Now   [Dec-07-17 06:56PM  Zacks]
▶ Charles Schwab Leads These Four Top Stocks Hitting Buy Zones: S&P 500 Futures   [Nov-22-17 07:10AM  Investor's Business Daily]
▶ 3 Takeaways From Extreme Networks' Earnings   [Nov-21-17 09:12AM  Motley Fool]
▶ Wi-Fi Usage and Satisfaction at NFL Stadiums on the Rise   [Nov-15-17 08:00AM  PR Newswire]

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