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Audiocodes

AUDC on Nasdaq. Telephone & telegraph apparatus. Market value $273m.

Watch this stockFree. We tell you when something changes.

This company reports once a year (it is based outside the US), so every figure comes from its annual report for the year to December 2025.

We can't read total debt from the filing, so debt is left out.

Should I look at this?

Not a fit for our list right now

Why it could be worth it

What to watch out for

See Technology stocks that passed both tests

This is not advice. Check the numbers below.

Compare with another stock

Cash yield
annual report to December 2025
7.8%high

For every $100 of what the whole company costs, it produced $7.76 of spare cash last year. A savings account pays about $4.

Price to profit
annual report to December 2025
n/a

The filings do not give us enough to work this out.

Return on capital
five annual reports to December 2025
n/a

The filings do not give us enough to work this out.

Quality score: 58 of 100. Price score: 66 of 100. Our list needs 70 on quality and 60 on price.

$10.89 a share, 57% above its 1-year low

Over the past year the price has ranged from $6.95 to $11.28.

Dividend: 3.7% a year

Paid every year for at least 5 years

Prices from Tuesday’s close (6 October).

Five years of cash, in billions

0.0
0.0
0.0
0.0
0.0
20212022202320242025
Revenue
$249m$275m$244m$242m$246m
Operating margin
15.9%11.4%5.9%7.1%5.7%
Debt to equity
n/an/an/an/an/a
Shares outstanding
0.03bn0.03bn0.03bn0.03bn0.03bn

Health checks

  • Free cash flow positive5 of 5 years
  • Accounting looks honest (Beneish)Not enough data
  • Financial strength (Piotroski)7 of 8 checks we could run
  • Profit backed by cash (accruals)Yes
  • DebtUnknown
  • Revenue growth, five yearsSlow, 2.2% a year
  • Buying back its own sharesYes, 17% fewer since 2021

Dates

Next results (estimated)
n/a
Last annual report (10-K)
30 March 2026
Next quarterly (estimated, 10-Q)
n/a

Who owns it

1 long-term investor we follow owns it, unchanged from 1 last quarter. 67 funds in all.

Jun '25
Dec '25
Jun '26
Largest holders overall

From 13F filings for the quarter ended 30 June 2026.

Big holders and activists

5 investors own more than 5%.

  • Shabtai Adlersberg
    Passive investor
    17.5%+1.7 pts
    Since 31 December 2025
  • Value Base Ltd.
    Passive investor
    at least 11.5%+1.1 pts
    (filed with 3 related holders)
    Since 31 March 2026
  • Leon Bialik
    Passive investor
    8.4%+0.7 pts
    Since 31 December 2025
  • Morgan Stanley
    Passive investor
    at least 4.3%
    (filed with 1 related holder)
    Since 31 March 2025
  • Senvest Management, LLC
    Passive investor
    at least 3.8%−2.7 pts
    (filed with 1 related holder)
    Since 31 December 2025

From Schedule 13D and 13G filings: anyone owning more than 5% must file one.

What insiders did

No insider bought shares on the open market in the last 12 months. 3 sold $627,326, $299,625 of it under preset trading plans.

  • Simon Zehava
    Director
    Sold
    Date
    1 September 2026
    Shares
    27,000
    Price
    $9.91
    Value
    $267,503
  • Simon Zehava
    Director
    Sold
    Date
    31 August 2026
    Shares
    6,000
    Price
    $10.03
    Value
    $60,199
  • Baruch Niran
    Chief Financial Officer
    Sold
    under a preset trading plan
    Date
    10 August 2026
    Shares
    1,875
    Price
    $9.99
    Value
    $18,732
  • Aldema Lior
    EVP and Chief Business Officer
    Sold
    under a preset trading plan
    Date
    10 August 2026
    Shares
    2,812
    Price
    $9.98
    Value
    $28,063
  • Baruch Niran
    Chief Financial Officer
    Sold
    under a preset trading plan
    Date
    6 August 2026
    Shares
    1,875
    Price
    $9.95
    Value
    $18,656
  • Aldema Lior
    EVP and Chief Business Officer
    Sold
    under a preset trading plan
    Date
    6 August 2026
    Shares
    2,812
    Price
    $9.95
    Value
    $27,969
  • Baruch Niran
    Chief Financial Officer
    Sold
    under a preset trading plan
    Date
    5 August 2026
    Shares
    1,875
    Price
    $9.84
    Value
    $18,442
  • Aldema Lior
    EVP and Chief Business Officer
    Sold
    under a preset trading plan
    Date
    5 August 2026
    Shares
    2,812
    Price
    $9.86
    Value
    $27,714
  • Aldema Lior
    EVP and Chief Business Officer
    Sold
    under a preset trading plan
    Date
    8 May 2026
    Shares
    2,813
    Price
    $8.34
    Value
    $23,460
  • Baruch Niran
    Chief Financial Officer
    Sold
    under a preset trading plan
    Date
    8 May 2026
    Shares
    1,875
    Price
    $8.34
    Value
    $15,638

From Form 4 filings: insiders must report trades in their own company's shares within two days.

Warning signs in its filings

Problems the company itself reported to the SEC, in its own words.

Audiocodes doesn’t file a US annual report (10-K), so we haven’t checked it.

A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.

What could go wrong

Cheap for a reason is the question the numbers cannot answer.

Whether the price already reflects the risks is what the deep dive is for.

The deep dive

Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.

  • What the business is worth, as a range, and the margin of safety at today’s price
  • Prices to start buying, buy, and buy hard
  • The three things that would make this a mistake
  • Every number footnoted to the filing it came from
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What a finished deep dive looks like

Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.