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ZYBERNO

Stock Report

Updated Sep 1, 2026

Cambium Networks Corporation (CMBMF)

Technology • OTC

$0.14

Professional Investment Analysis

ZYBERNO SCORE →

Is it a great business? Is it getting better?

6.0/100

POOR BUSINESS

Cambium Networks Corporation (CMBMF) scores 6/100 — concerning metrics indicating significant structural or financial risks.

📊 How is the Zyberno Score calculated? +

The Zyberno Score answers one question: "Is this a quality business worth owning?" It's a 0-100 investment grade that evaluates business fundamentals across four critical dimensions, based on principles from Warren Buffett, Benjamin Graham, Peter Lynch, and Charlie Munger.

The 4 Core Categories (25 points each):

1. PROFITABILITY (25 pts)

Metrics: ROE, ROIC, Net Margin, Operating Margin
Thresholds: ROE >20% excellent • ROIC >20% excellent • Net Margin >20% excellent • Operating Margin >25% excellent

2. FINANCIAL STRENGTH (25 pts)

Metrics: Debt-to-Equity, Current Ratio, Interest Coverage, Altman Z-Score
Thresholds: D/E <0.3 excellent • Current Ratio >2.5 excellent • Interest Coverage >10x excellent • Altman Z >3.0 safe

3. CASH FLOW QUALITY (25 pts)

Metrics: Free Cash Flow, OCF vs Net Income, FCF Margin
Thresholds: Positive & growing FCF excellent • OCF/NI >1.2x excellent (cash earnings exceed accounting)

4. GROWTH & CONSISTENCY (25 pts)

Metrics: Revenue Growth, Net Income Growth, FCF Growth, Piotroski F-Score
Thresholds: Growth via log-linear regression • Piotroski 8-9 excellent, 6-7 good

Score Interpretation:

75-100

GREAT BUSINESS

65-74

GOOD BUSINESS

50-64

AVERAGE BUSINESS

30-49

WEAK BUSINESS

0-29

POOR BUSINESS

→ View full CMBMF quality analysis & detailed breakdown

VALUATION SIGNAL

N/A (Requires more data)

Requires fair value calculation and current price data

💰 How is Margin of Safety calculated? +

Margin of Safety measures how much discount or premium you're paying relative to a stock's intrinsic value. It's Benjamin Graham's core principle: the larger the margin, the lower your downside risk.

Formula: (Intrinsic Value − Current Price) ÷ Intrinsic Value × 100%

How We Calculate Intrinsic Value (DCF Method):

Step 1: Calculate current Owner Earnings (OCF − Maintenance CapEx)

Step 2: Calculate company-specific growth rate using log-linear regression on 16 quarters of Owner Earnings

Step 3: Project 10 years forward using the calculated growth rate

Step 4: Discount each year's cash flow to present value using 10% discount rate

Step 5: Calculate terminal value using 3% perpetual growth rate

Step 6: Sum all discounted cash flows = Intrinsic Value

What The Percentages Mean:

+50% or more

EXCELLENT — Very undervalued

+25% to +50%

GOOD — Attractive discount

0% to +25%

FAIR — Reasonable value

0% to -25%

CAUTION — Slight premium

-25% or worse

POOR — Overvalued

"Price is what you pay, value is what you get." — Warren Buffett

→ View full CMBMF valuation analysis · → View full CMBMF Brina Gap analysis

📈 How is Brina Gap calculated? +

Brina Gap measures the difference between the growth a business can fundamentally sustain and the growth the market is already pricing in.

Formula: Fundamental Growth Rate − Market-Implied Growth Rate

The Two Components:

Fundamental Growth Rate = ROIC × Reinvestment Rate

What the business can sustainably grow at based on how much it reinvests and what return it earns on that capital. Grounded in historical financials.

Market-Implied Growth Rate = Reverse DCF

The growth rate the current Enterprise Value implicitly assumes. Calculated by back-solving a 10-year DCF model (10% WACC, 3% terminal growth) until the present value of projected cash flows equals EV.

What The Gap Means:

Gap > +5% Market Underestimates — potential upside

+2% to +5% Slight Underestimate

-2% to +2% Fairly Priced — market consensus matches fundamentals

-5% to -2% Slight Overestimate

Gap < -5% Market Overestimates — price embeds optimism fundamentals don't support

A positive gap (market underestimates) combined with a positive Margin of Safety is the strongest combined signal — the business is both cheap historically and forward economics are stronger than the price suggests.

Critical Financial Health Indicators

Return on Equity (Profitability):CRITICAL (0.0%)

Debt-to-Equity (Solvency Risk):EXCELLENT (0.00x)

Operating Margin (Operational Efficiency):CRITICAL (-11.5%)

Return on Capital (Capital Efficiency):CRITICAL (-16.6%)

📊 Valuation Trilogy

Three interconnected metrics for complete valuation analysis

Click any metric for full methodology and detailed analysis

Zyberno's Verdict

Cambium Networks Corporation (CMBMF) stock report — Zyberno Score 6/100 (POOR BUSINESS). Full financial analysis on Zyberno.

Over the trailing twelve months, CMBMF generated -$15.55M in Owner Earnings. Capital was deployed as follows: $292.00K invested in capital expenditures. Reinvestment rate: 7.0%.

DIVISION I: EXECUTIVE SUMMARY

A. Market Valuation

Market Price & Capitalization (2)

Current Price:0.14

Market Cap:$4.06M

Valuation Multiples (2)

P/S Ratio:0.02x

Peg Ratio:-999.00x

Enterprise Metrics (1)

Enterprise Value:$131.02M

Price Action & Momentum (1)

% of 52-Week High:2.1%

B. Profitability Assessment

Return Metrics (4)

ROA:-20.9%

Roic:

-16.6%

📊 Click to view full CMBMF ROIC analysis →

Reinvestment Rate:7.0%

Fundamental Growth Rate (g):-1.2%

Margin Analysis (3)

Operating Margin Ttm:-11.5%

Net Margin Ttm:-17.6%

Ebitda Margin:-9.9%

TTM Performance (3)

Gross Margin Ttm:42.4%

Operating Margin Ttm:-11.5%

Net Margin Ttm:-17.6%

Yield Metrics (2)

Earnings Yield:-$670.97

Dividend Yield:0.0%

C. Log-Linear Regression Growth Trends

Earnings Surprise (SUE) (3)

Earnings Surprise (SUE):

+0.56

📊 Click to view full CMBMF Earnings Surprise analysis →

EPS Surprise vs Expected:79.5%

Latest Earnings Filed:2026-05-20

Revenue Growth (Linear) (1)

Revenue Growth Rate (Linear):-16.9%

Earnings Growth (Linear) (1)

Net Income Growth Rate (Linear):100.0%

Cash Flow Growth (Linear) (2)

Free Cash Flow Growth Rate (Linear):-17.7%

Operating Cash Flow Growth Rate (Linear):-9.6%

Operating Growth (Linear) (1)

Operating Income Growth Rate (Linear):100.0%

D. Financial Stability

Liquidity Ratios (3)

Current Ratio:0.66x

Quick Ratio:0.48x

Cash Ratio:0.04x

Leverage Analysis (1)

Debt To Ebitda:-999.00x

Coverage Ratios (2)

Interest Coverage Ratio:-3.07x

Times Interest Earned:-3.07

Capital Structure (4)

Working Capital:-47,713,000.00

Cash And Cash Equivalents:5,858,000.00

Long Term Debt:$66.41M

Net Debt:$126.96M

DIVISION II: FINANCIAL STATEMENTS ANALYSIS

A. Income Statement Analysis

Revenue Components (2)

Revenue TTM: $170.46M

Linear Growth: -16.9%

📊 Click to view full CMBMF Revenue analysis & methodology →

Cost Of Revenue Ttm:$98.25M

Profitability Breakdown (2)

Gross profit TTM: $72.21M

Linear Growth: -18.7%

📊 Click to view full CMBMF Gross Profit analysis & methodology →

Operating income TTM: -$19.53M

Linear Growth: 100.0%

📊 Click to view full CMBMF Operating Income analysis & methodology →

Bottom Line Performance (3)

Net income TTM: -$29.93M

Linear Growth: 100.0%

📊 Click to view full CMBMF Net Income analysis & methodology →

Income Before Tax:-$28.35M

Ebitda Ttm:-16,914,000.00

Operating Expenses (5)

Operating Expenses:91,741,000.00

R And D Expense:31,415,000.00

Sga Expense:28,118,000.00

Income Tax Expense:$1.58M

Interest Expense:9,098,000.00

Expense Ratios (3)

R And D To Revenue Percentage:70.5%

Sga To Revenue Percentage:63.1%

Ebitda Margin:-9.9%

B. Balance Sheet Analysis

Asset Composition (5)

Total Assets:$138.45M

Current Assets:$94.20M

Ppe Net:39,623,000.00

Goodwill:874,000.00

Intangible Assets:$0.00

Liability Structure (4)

Total Liabilities:177,059,000.00

Current Liabilities:141,908,000.00

Long Term Debt:$66.41M

Short Term Debt:$66.41M

Equity & Capital (3)

Equity:-$38.61M

Retained Earnings:-$200.80M

Common Stock:500,000,000.00

Working Capital Items (3)

Accounts Receivable:49,603,000.00

Inventory:25,874,000.00

Accounts Payable:20,747,000.00

Special Items (2)

Contract Liabilities:8,951,000.00

Stock Based Compensation:1,274,000.00

C. Cash Flow Analysis

Operating Activities (2)

Operating cash flow TTM: -$15.26M

Linear Growth: -9.6%

Free cash flow TTM: -$15.55M

Linear Growth: -17.7%

📊 Click to view full CMBMF Free Cash Flow analysis & methodology →

Investment Activities (2)

Investing Cash Flow:-$772.00K

Capital Expenditures Ttm:292,000.00

Financing Activities (3)

Financing Cash Flow:-$13.00K

Dividends Paid Ttm:0.00

Stock Repurchase:0.00

Capital Transactions (3)

Common Stock Issuance:0.00

Long Term Debt Issuance:$0.00

Long Term Debt Repayments:$0.00

Non-Cash Items (1)

Depreciation Amortization Ttm:2,616,000.00

DIVISION III: OPERATIONAL METRICS

A. Per Share Analysis

Earnings Per Share (3)

EPS (Basic TTM):-1.04

Eps diluted TTM: -$1.04

Linear Growth: 100.0%

📊 Click to view full CMBMF EPS analysis & methodology →

Earnings Per Share Ttm:-$1.03

Revenue & Cash Per Share (2)

Sales Per Share Ttm:5.88

Operating Cash Flow Per Share:-$0.54

Book Value & Capital (2)

Book Value Per Share:-$1.33

Cash Per Share:0.20

Dividend Policy (1)

Dividend Payout Ratio:-999.00x

B. Operational Efficiency

Asset Utilization (2)

Asset Turnover Ttm:1.19x

Working Capital Turnover Ttm:-999.00x

Receivables Management (2)

Receivables Turnover Ttm:3.44x

Days Sales Outstanding Ttm:106.21

Inventory Management (2)

Inventory Turnover Ttm:3.80x

Days Inventory Outstanding Ttm:96.12

Payables & Cash Cycle (2)

Days Payable Outstanding:77.08

Cash Conversion Cycle:125.26

C. Quality & Risk Metrics

Financial Quality Scores (2)

Financial Strength Score:0.00

Quality Score:15.00

Market Metrics (2)

Beta:0.00x

Volatility Category:unknown

DIVISION IV: INVESTMENT ANALYSIS

A. Value Investment Framework

Owner Earnings Analysis (1)

-$15.55M

Damodaran Growth Analysis (2)

Reinvestment Rate:7.0%

Fundamental Growth Rate (g):-1.2%

B. Log-Linear Regression Growth Analysis

Growth Rates (Log-Linear Regression) (3)

Revenue Growth Rate (Linear):-16.9%

Net Income Growth Rate (Linear):100.0%

Operating Income Growth Rate (Linear):100.0%

Cash Flow Growth Rates (2)

Free Cash Flow Growth Rate (Linear):-17.7%

Operating Cash Flow Growth Rate (Linear):-9.6%

Other Growth Rates (2)

Gross Profit Growth Rate (Linear):-18.7%

Book Value Growth Rate (Linear):-27.0%

C. Company Profile & Context

Corporate Information (6)

Symbol:CMBMF

Company Name:Cambium Networks Corporation

Sector:Technology

Industry:Communications Equipment

Exchange:OTC

Country:Cayman Islands

Market Classification (3)

Market Cap Category:N/A

Price Category:penny

Volume Category:N/A

Share Structure (3)

Shares Outstanding:28.98M

Shares Outstanding Basic:28.98M

Shares Outstanding Diluted:28.98M

Data Processing Info (3)

Processing Version:v3.0

Last Updated:2026-09-01 16:03:25 UTC

Data Timestamp:2026-08-21T18:24:41.817192