Corero Network Security PLC (GB:CNS)
LSE:CNS
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Corero Network Security
(LSE:CNS)
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Rating:61Neutral
Price Target:
11.50 p
▼(-8.00% Downside)
Action:Reiterated
Date:03/25/26
The score is primarily supported by a conservative, low-debt balance sheet and generally positive recent operating cash flow, but is held back by inconsistent profitability and a negative P/E. Technicals are neutral-to-soft in the near term (below 20/50-day averages with negative MACD), limiting upside conviction.
Positive Factors
Conservative balance sheet / low debt
Very low debt and substantial equity give Corero durable financial flexibility to fund R&D, product support and targeted go-to-market activities without immediate external financing. This reduces solvency risk, enables opportunistic investments or M&A, and helps sustain operations through industry cycles.
Negative Factors
Inconsistent profitability
The swing from modest profit to a small loss and negative operating profit signals fragile earnings power. Inconsistent margins constrain reinvestment, reduce margin leverage as scale increases, and increase the risk that management must prioritize short-term cost control over long-term growth initiatives.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet / low debt
Very low debt and substantial equity give Corero durable financial flexibility to fund R&D, product support and targeted go-to-market activities without immediate external financing. This reduces solvency risk, enables opportunistic investments or M&A, and helps sustain operations through industry cycles.
Read all positive factors
Corero Network Security (CNS) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£55.06M
Dividend YieldN/A
Average Volume (3M)699.55K
Price to Earnings (P/E)―
Beta (1Y)0.74
Revenue Growth0.46%
EPS Growth-257.14%
CountryUK
Employees87
SectorTechnology
Sector Strength88
IndustrySoftware - Infrastructure
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding512,165,160
10 Day Avg. Volume1,507,957
30 Day Avg. Volume699,549
Financial Highlights & Ratios
PEG Ratio0.35
Price to Book (P/B)3.43
Price to Sales (P/S)2.45
P/FCF Ratio29.07
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
£20.00Price Target Upside60.00% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)<0.01
Revenue Forecast (FY)£29.17M
Corero Network Security Business Overview & Revenue Model
Company Description
Corero Network Security plc specializes in delivering global solutions to combat distributed denial-of-service (DDoS) attacks. The company's primary offering is the Corero SmartWall product range, designed to proactively neutralize DDoS attack tra...
How the Company Makes Money
Corero primarily makes money by selling and licensing its DDoS protection solutions (centered on the SmartWall product family) and providing ongoing support and maintenance services. Revenue is generally generated through (1) product/software lice...
Corero Network Security Financial Statement Overview
Summary
Income Statement
60
Neutral
Balance Sheet
85
Very Positive
Cash Flow
70
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 26.03M | 24.56M | 22.35M | 20.12M | 20.89M |
| Gross Profit | 21.26M | 22.43M | 20.18M | 17.55M | 17.78M |
| EBITDA | 1.78M | 2.82M | 2.07M | 1.17M | 2.38M |
| Net Income | -725.92K | 498.00K | -170.00K | 554.00K | 1.52M |
Balance Sheet | |||||
| Total Assets | 32.91M | 33.50M | 28.44M | 26.83M | 29.79M |
| Cash, Cash Equivalents and Short-Term Investments | 4.04M | 5.32M | 5.16M | 5.65M | 11.20M |
| Total Debt | 458.17K | 150.00K | 315.00K | 1.29M | 2.95M |
| Total Liabilities | 14.36M | 14.83M | 11.70M | 10.95M | 13.98M |
| Stockholders Equity | 18.56M | 18.66M | 16.74M | 15.88M | 15.80M |
Cash Flow | |||||
| Free Cash Flow | 2.19M | -693.00K | 494.00K | -2.15M | 2.36M |
| Operating Cash Flow | 3.06M | 3.29M | 3.13M | -1.73M | 2.79M |
| Investing Cash Flow | -4.47M | -3.88M | -2.59M | -2.12M | -2.17M |
| Financing Cash Flow | -185.82K | 765.00K | -1.37M | -1.39M | 605.00K |
Corero Network Security Technical Analysis
Negative
12.50
Price Trends
11.67
Negative
12.04
Negative
11.10
Negative
Market Momentum
-0.22
Negative
37.30
Neutral
16.67
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:CNS, the sentiment is Negative. The current price of 12.5 is above the 20-day moving average (MA) of 10.92, above the 50-day MA of 11.67, and above the 200-day MA of 11.10, indicating a bearish trend. The MACD of -0.22 indicates Negative momentum. The RSI at 37.30 is Neutral, neither overbought nor oversold. The STOCH value of 16.67 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GB:CNS.
Corero Network Security Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
82 Outperform | £822.05M | 16.23 | 64.69% | 5.54% | 1.58% | -6.06% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
61 Neutral | £55.06M | -102.75 | -3.99% | ― | 0.46% | -257.14% | |
60 Neutral | £140.09M | 148.25 | 2.17% | ― | 11.02% | -59.83% | |
49 Neutral | £2.06M | 0.49 | ― | ― | ― | ― | |
46 Neutral | £15.07M | -7.02 | -9.36% | ― | -7.45% | 78.23% | |
43 Neutral | £21.58M | -0.35 | -99.34% | 23.79% | 25.44% | -1877.56% |
* Technology Sector Average
GB:CNS
Corero Network Security
10.75
-4.25
-28.33%
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Corero Network Security Corporate Events
Business Operations and StrategyProduct-Related Announcements
Corero wins $1.1m TierPoint deal for new web security product
Positive
Jun 18, 2026
Corero Network Security has expanded its product portfolio beyond core DDoS mitigation with the launch of a Web Application Security product, part of its CORE platform, aimed at addressing application-layer threats for data centre and cloud custom...
Business Operations and StrategyShareholder Meetings
Corero Network Security Secures Shareholder Backing at 2026 AGM
Positive
Jun 18, 2026
Corero Network Security, a London-headquartered cybersecurity firm focused on automated DDoS protection for service providers and enterprises, operates from centers in the U.S. and the U.K. and provides network visibility, analytics, and reporting...
Financial DisclosuresShareholder Meetings
Corero Posts 2025 Annual Report and Sets Date for 2026 AGM
Neutral
Jun 1, 2026
Corero Network Security, the London-headquartered DDoS protection specialist listed on AIM and the US OTCQX Market, provides automatic detection, mitigation, and analytics solutions that safeguard complex edge and subscriber networks. Its technolo...
Regulatory Filings and Compliance
Corero Keeps Employee Share Option Pool Unchanged, Avoids Dilution
Positive
May 13, 2026
Corero Network Security reported that no shares were issued or allotted under its Employee Share Schemes during the period from 13 November 2025 to 13 May 2026. As a result, the blocklisted balance under these schemes remains at 44,543,708 ordinar...
Regulatory Filings and Compliance
Corero director Jeremy Nicholls buys additional shares in DDoS security firm
Positive
May 6, 2026
Corero Network Security plc has disclosed that non-executive director Jeremy Nicholls purchased 43,000 ordinary shares in the company on 5 May 2026 at a price of 12.30 pence per share. Following this transaction, Nicholls holds a total beneficial ...
Business Operations and Strategy
Corero to Showcase DDoS Strategy at Edinburgh Investor Day
Positive
Apr 8, 2026
Corero Network Security will host an Investor Analyst Day in Edinburgh on 20 April 2026, providing a detailed update on its strategy, operations, and position within the rapidly evolving DDoS cyberdefence market. Senior leadership will outline fi...
Business Operations and StrategyFinancial DisclosuresPrivate Placements and Financing
Corero boosts recurring revenue and H2 momentum as DDoS demand surges
Positive
Mar 24, 2026
Corero Network Security, a specialist in DDoS protection and real-time automated mitigation, reported 2025 revenues of $25.5 million with adjusted EBITDA of $2.0 million, as it continued shifting from upfront appliance and licence sales to subscri...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.