We first give a sufficient condition for positivity of the solution semigroup of linear functional difference equations. Then, we obtain a Perron–Frobenius theorem for positive linear functional difference equations. Next, we offer a new explicit criterion for exponential stability of a wide class of positive equations. Finally, we study stability radii of positive linear functional difference equations. It is proved that complex, real and positive stability radius of positive equations under structured perturbations (or affine perturbations) coincide and can be computed by explicit formulae.