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:
12.50 p
▲(4.17% Upside)
Action:ReiteratedDate: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
Balance sheet health
A conservative, low‑debt capital structure with substantial equity provides durable financial resilience. Over the next 2–6 months this reduces refinancing and solvency risk, preserves capacity for targeted R&D or go‑to‑market spend, and underpins operational flexibility during industry cycles.
Negative Factors
Profitability volatility
Swings between modest profit and a small loss reveal fragile operating leverage and inconsistent margin capture. Persisting over the next several months this undermines management's ability to commit to multi‑period investments, complicates forecasting, and increases the risk that margins will remain pressured absent structural cost or pricing fixes.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance sheet health
A conservative, low‑debt capital structure with substantial equity provides durable financial resilience. Over the next 2–6 months this reduces refinancing and solvency risk, preserves capacity for targeted R&D or go‑to‑market spend, and underpins operational flexibility during industry cycles.
Read all positive factors
Corero Network Security (CNS) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£61.46M
Dividend YieldN/A
Average Volume (3M)699.55K
Price to Earnings (P/E)9.5
Beta (1Y)1.01
Revenue Growth-5.43%
EPS Growth-292.31%
CountryUK
Employees87
SectorTechnology
Sector Strength88
IndustrySoftware - Infrastructure
Share Statistics
EPS (TTM)<0.01
Shares Outstanding512,161,800
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 Upside66.67% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)>-0.01
Revenue Forecast (FY)£27.77M
Corero Network Security Business Overview & Revenue Model
Company Description
Corero Network Security plc provides distributed denial of service (DDoS) protection solutions worldwide. It offers Corero SmartWall products to remove DDoS attack traffic. Its products include SmartWall Threat Defense System appliances for DDoS p...
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
Positive
12.00
Price Trends
12.51
Negative
11.27
Positive
11.05
Positive
Market Momentum
-0.15
Negative
46.57
Neutral
66.67
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:CNS, the sentiment is Positive. The current price of 12 is above the 20-day moving average (MA) of 11.96, below the 50-day MA of 12.51, and above the 200-day MA of 11.05, indicating a neutral trend. The MACD of -0.15 indicates Negative momentum. The RSI at 46.57 is Neutral, neither overbought nor oversold. The STOCH value of 66.67 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 |
|---|---|---|---|---|---|---|---|
76 Outperform | £618.82M | 8.86 | 60.89% | 5.54% | 7.83% | 2.36% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
61 Neutral | £61.46M | 9.55 | -9.83% | ― | -5.43% | -292.31% | |
60 Neutral | £110.71M | -23.06 | 7.20% | ― | 26.09% | 32.43% | |
45 Neutral | £11.30M | -3.01 | -9.36% | ― | -7.45% | 78.23% | |
43 Neutral | £13.69M | -0.96 | -99.34% | 23.79% | 25.44% | -1877.56% | |
42 Neutral | £1.24M | 0.06 | ― | ― | ― | ― |
* Technology Sector Average
GB:CNS
Corero Network Security
12.00
-4.70
-28.14%
GB:CLCO
CloudCoCo Group
0.18
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GB:IOM
Iomart Group plc
12.05
-18.95
-61.13%
GB:SYS
SysGroup
13.50
-6.50
-32.50%
GB:BKS
Beeks Financial Cloud Group Plc
162.00
-51.00
-23.94%
GB:BYIT
Bytes Technology Group Plc
261.80
-196.16
-42.83%
Corero Network Security Corporate Events
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...
Business Operations and StrategyFinancial Disclosures
Corero Network Security sets date for 2025 results and investor webcast
Neutral
Mar 12, 2026
Corero Network Security will publish its results for the year ended 31 December 2025 on 24 March 2026, as the DDoS protection specialist continues to position itself as a provider of real-time service availability solutions. The company will accom...
Business Operations and StrategyExecutive/Board Changes
Corero Network Security Adds Industry Veteran Jeremy Nicholls to Board
Positive
Feb 2, 2026
Corero Network Security has strengthened its board with the immediate appointment of Jeremy Nicholls as a non-executive director, adding more than 35 years of experience in security, networking and unified collaboration technologies to its leaders...
Business Operations and StrategyFinancial Disclosures
Corero Beats 2025 Guidance as Recurring Revenue Model Gains Traction
Positive
Jan 12, 2026
Corero Network Security said it expects to report 2025 revenue at the upper end of its guidance range and EBITDA ahead of expectations, after strong trading momentum in the second half of the year offset a weaker start. Annual recurring revenue ro...
Business Operations and StrategyProduct-Related Announcements
Corero Sharpenes DDoS Strategy as Evolving Attacks Drive Expansion of SmartWall ONE Platform
Positive
Dec 29, 2025
Corero Network Security has outlined how evolving DDoS attack patterns in 2025—characterised by small, persistent, often encrypted and multi‑vector assaults—have exposed weaknesses in legacy defences and underscored demand for al...
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.