A Business at a Glance
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ADTRAN Holdings, Inc.
ADTN
$787M
Mkt Cap
$9.85
-2.96%
ADTRAN Holdings, Inc. (ADTN) has a 5-year average return on invested capital (ROIC) of -25.3%. This is below average and may indicate limited pricing power.
ADTRAN Holdings, Inc. (ADTN) has a market capitalization of $793M. It is classified as a small-cap stock.
ADTRAN Holdings, Inc. (ADTN) does not currently pay a regular dividend.
ADTRAN Holdings, Inc. (ADTN) operates in the Telephone & Telegraph Apparatus industry, within the Industrials sector.
ADTRAN Holdings, Inc. (ADTN) reported annual revenue of $1.1 billion in its most recent fiscal year, based on SEC EDGAR filings.
ADTRAN Holdings, Inc. (ADTN) has a net profit margin of -3.8%. The company is currently unprofitable.
ADTRAN Holdings, Inc. (ADTN) generated $98 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Company Overview ADTRAN Holdings, Inc. (“Adtran” or the “Company”) is a leading global provider of networking and communications platforms, software, systems and services focused on the metro optical transport, data center interconnect, and broadband access market, serving a diverse domestic and international customer base in multiple countries that includes large, medium and small Service Providers, alternative Service Providers, such as utilities, municipalities and fiber overbuilders, cable/MSOs, SMBs and distributed enterprises, including Fortune 500 companies with sophisticated business continuity applications; and federal, state and local government agencies. Our innovative solutions and services enable voice, data, video and internet-communications across a variety of network infrastructures and are currently in use by millions worldwide. We support our customers through our direct global sales organization and our distribution networks.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 1.1B | 1.1B | 923M | 1.1B | 1.0B | 563M |
| Net Income | -31M | -42M | -457M | -269M | -2.0M | -8.6M |
| EPS | $-0.39 | $-0.52 | $-5.79 | $-3.43 | $-0.03 | $-0.18 |
| Free Cash Flow | 67M | 98M | 69M | -79M | -61M | -2.7M |
| ROIC | -4.2% | -17.1% | -81.8% | -24.8% | -0.2% | -2.4% |
| Gross Margin | 38.6% | 38.3% | 35.1% | 28.8% | 31.9% | 38.8% |
| Debt/Equity | 0.36 | 0.58 | 3.25 | 0.71 | 0.16 | 0.01 |
| Dividends/Share | $0.00 | - | $0.00 | $0.27 | $0.34 | $0.37 |
| Operating Income | -5.3M | -16M | -428M | -224M | -73M | -15M |
| Operating Margin | -0.5% | -1.4% | -46.3% | -19.5% | -7.1% | -2.6% |
| ROE | -22.8% | -30.5% | -124.8% | -28.2% | -0.2% | -2.4% |
| Shares Outstanding | 81M | 80M | 79M | 78M | 68M | 48M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 630M | 600M | 637M | 667M | 529M | 530M | 507M | 563M | 1.0B | 1.1B | 923M | 1.1B | 1.1B |
| Gross Margin | 49.4% | 44.5% | 45.8% | 45.5% | 38.5% | 41.3% | 43.0% | 38.8% | 31.9% | 28.8% | 35.1% | 38.3% | 38.6% |
| R&D | 132M | 130M | 125M | 131M | 125M | 126M | 113M | 109M | 174M | 258M | 221M | 204M | 206M |
| SG&A | 132M | 124M | 132M | 136M | 124M | 130M | 114M | 124M | 209M | 259M | 233M | 226M | 232M |
| EBIT | 47M | 13M | 35M | 37M | -45M | -40M | -9.8M | -15M | -73M | -224M | -428M | -16M | -5.3M |
| Op. Margin | 7.5% | 2.2% | 5.4% | 5.6% | -8.6% | -7.5% | -1.9% | -2.6% | -7.1% | -19.5% | -46.3% | -1.4% | -0.5% |
| Net Income | 45M | 19M | 35M | 24M | -19M | -53M | 2.4M | -8.6M | -2.0M | -269M | -457M | -42M | -31M |
| Net Margin | 7.1% | 3.1% | 5.5% | 3.6% | -3.7% | -10.0% | 0.5% | -1.5% | -0.2% | -23.4% | -49.5% | -3.8% | -2.8% |
| Non-Recurring | -142K | -644K | -22K | 419K | 7.2M | 5.9M | 6.2M | 407K | 1.5M | 60M | 337M | 56K | 56K |
| Returns on Capital | |||||||||||||
| ROIC | 7.4% | 2.3% | 6.7% | 5.6% | -3.9% | -12.1% | 0.6% | -2.4% | -0.2% | -24.8% | -81.8% | -17.1% | -4.2% |
| ROE | 7.7% | 3.6% | 7.3% | 4.9% | -4.1% | -12.8% | 0.6% | -2.4% | -0.2% | -28.2% | -124.8% | -30.5% | -22.8% |
| ROA | 5.8% | 2.7% | 5.4% | 3.6% | -3.0% | -9.0% | 0.4% | -1.6% | -0.2% | -14.8% | -32.1% | -3.5% | -2.6% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 56M | 19M | 42M | -42M | 55M | -2.5M | -17M | 3.0M | -44M | -43M | 104M | 130M | 99M |
| Free Cash Flow | 45M | 6.8M | 21M | -57M | 47M | -12M | -23M | -2.7M | -61M | -79M | 69M | 98M | 67M |
| Owner Earnings | 32M | -2.4M | 21M | -66M | 32M | -27M | -40M | -21M | -140M | -172M | -2.9M | 27M | -5.3M |
| CapEx | 11M | 12M | 21M | 15M | 8.1M | 9.5M | 6.4M | 5.7M | 17M | 36M | 35M | 32M | 32M |
| Maint. CapEx | 15M | 14M | 14M | 16M | 16M | 18M | 17M | 16M | 68M | 113M | 91M | 93M | 96M |
| Growth CapEx | 0 | 0 | 7.0M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 15M | 14M | 14M | 16M | 16M | 18M | 17M | 16M | 68M | 113M | 91M | 93M | 96M |
| CapEx/OCF | 20.2% | 63.4% | 51.0% | N/A | 14.6% | N/A | N/A | 188.5% | N/A | N/A | 33.3% | 24.5% | 32.1% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 20M | 18M | 18M | 17M | 17M | 17M | 17M | 18M | 23M | 21M | 0 | 0 | 0 |
| Dividend Yield | 1.9% | 2.5% | 2.3% | 1.9% | 2.6% | 3.2% | 3.7% | 2.0% | 1.7% | 2.6% | N/A | N/A | N/A |
| Share Buybacks | 81M | 66M | 26M | 17M | 16M | 184K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | 8.0% | 9.0% | 2.8% | 1.9% | 3.4% | 0.0% | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | 8.6M | 6.7M | 6.7M | 7.4M | 7.2M | 7.0M | 6.8M | 7.5M | 28M | 16M | 16M | 10M | 8.7M |
| Debt Repayment | 17M | 1.1M | 1.1M | 1.1M | 1.1M | 1.0M | 25M | 0 | 3.0M | 708K | 2.0M | 9.0M | 9.0M |
| Balance Sheet | |||||||||||||
| Net Debt | -90M | -90M | -95M | -76M | -83M | -49M | -57M | -52M | 102M | 342M | 336M | -12M | -38M |
| Cash & Equiv. | 73M | 85M | 80M | 86M | 106M | 74M | 60M | 57M | 109M | 87M | 76M | 96M | 88M |
| Long-Term Debt | 29M | 28M | 27M | 26M | 25M | 25M | N/A | N/A | 60M | 195M | 190M | 25M | 25M |
| Debt/Equity | 0.05 | 0.06 | 0.06 | 0.05 | 0.06 | 0.15 | 0.02 | 0.01 | 0.16 | 0.71 | 3.25 | 0.58 | 0.36 |
| Interest Coverage | 69.6 | 22.6 | 60.4 | 67.2 | -85.2 | -78.2 | -1954.6 | -432.4 | -21.2 | -13.7 | -19.4 | -0.8 | -0.8 |
| Equity | 549M | 480M | 480M | 498M | 446M | 380M | 373M | 357M | 1.3B | 605M | 127M | 146M | 138M |
| Total Assets | 739M | 633M | 667M | 669M | 628M | 545M | 526M | 569M | 1.9B | 1.7B | 1.2B | 1.2B | 1.2B |
| Total Liabilities | 190M | 153M | 188M | 171M | 182M | 165M | 153M | 212M | 640M | 629M | 622M | 685M | 679M |
| Intangibles | 7.5M | 5.1M | 7.3M | 4.7M | 33M | 28M | 23M | 19M | 401M | 337M | 285M | 294M | 281M |
| Retained Earnings | 908M | 907M | 922M | 922M | 884M | 807M | 782M | 741M | 55M | -232M | -689M | -730M | -731M |
| Working Capital | 232M | 219M | 226M | 306M | 237M | 208M | 223M | 221M | 454M | 445M | 306M | 273M | 275M |
| Current Assets | 351M | 312M | 353M | 413M | 355M | 320M | 317M | 376M | 882M | 719M | 599M | 635M | 634M |
| Current Liabilities | 119M | 93M | 127M | 107M | 118M | 113M | 94M | 155M | 429M | 274M | 293M | 362M | 359M |
| Per Share Data | |||||||||||||
| EPS | 0.80 | 0.36 | 0.72 | 0.49 | -0.40 | -1.11 | 0.05 | -0.18 | -0.03 | -3.43 | -5.79 | -0.52 | -0.39 |
| Owner EPS | 0.58 | -0.05 | 0.43 | -1.35 | 0.67 | -0.57 | -0.84 | -0.43 | -2.06 | -2.20 | -0.04 | 0.34 | -0.07 |
| Book Value | 9.84 | 9.27 | 9.80 | 10.23 | 9.23 | 7.97 | 7.84 | 7.44 | 19.20 | 7.72 | 1.61 | 1.82 | 1.71 |
| Cash Flow/Share | 1.00 | 0.36 | 0.86 | -0.87 | 1.15 | -0.05 | -0.35 | 0.06 | -0.65 | -0.55 | 1.31 | 1.62 | 0.80 |
| Dividends/Share | 0.36 | 0.36 | 0.36 | 0.36 | 0.36 | 0.36 | 0.36 | 0.37 | 0.34 | 0.27 | 0.00 | N/A | 0.00 |
| Shares Out. | 55.8M | 51.8M | 48.9M | 48.7M | 48.4M | 47.7M | 47.6M | 48.0M | 67.9M | 78.4M | 78.9M | 79.9M | 80.5M |
| Valuation | |||||||||||||
| P/E Ratio | 22.5 | 39.5 | 26.5 | 39.1 | N/A | N/A | 296.0 | N/A | N/A | N/A | N/A | N/A | -25.1 |
| P/FCF | 22.6 | 108.4 | 45.4 | N/A | 9.8 | N/A | N/A | N/A | N/A | N/A | 9.4 | 7.1 | 11.8 |
| EV/EBIT | 19.4 | 48.0 | 24.2 | 22.9 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Price/Book | 1.8 | 1.5 | 1.9 | 1.9 | 1.0 | 1.1 | 1.9 | 2.9 | 0.9 | 1.0 | 5.1 | 5.3 | 5.8 |
| Price/Sales | 14.6 | 10.3 | 7.0 | 7.1 | 1.2 | 1.0 | 0.9 | 1.6 | 1.3 | 0.7 | 0.5 | 0.7 | 0.7 |
| FCF Yield | 4.4% | 0.9% | 2.2% | -6.1% | 10.2% | -2.8% | -3.3% | -0.3% | -5.1% | -13.7% | 10.6% | 12.8% | 8.5% |
| Market Cap | 1.0B | 737M | 933M | 933M | 462M | 423M | 704M | 1.0B | 1.2B | 580M | 652M | 768M | 793M |
| Avg. Price | 18.43 | 14.42 | 15.97 | 18.42 | 13.55 | 11.43 | 9.90 | 18.30 | 19.33 | 10.61 | 6.09 | 9.00 | 9.85 |
| Year-End Price | 18.03 | 14.23 | 19.07 | 19.18 | 9.55 | 8.85 | 14.80 | 21.70 | 17.77 | 7.40 | 8.21 | 8.75 | 9.85 |
ADTRAN Holdings, Inc. passes 2 of 9 quality checks, indicating weak fundamentals.
On a free-cash-flow basis, the stock trades at 8.1x vs a median of 9.6x. The company's 5-year average gross margin is 34.6%. At current prices, the estimated annualized return to fair value is +17.1%.
ADTRAN Holdings, Inc. (ADTN) has a debt-to-equity ratio of 0.58. This indicates moderate leverage.
ADTRAN Holdings, Inc. (ADTN) reported earnings per share (EPS) of $-0.52 in its most recent fiscal year.
ADTRAN Holdings, Inc. (ADTN) has a return on equity (ROE) of -30.5%. A negative ROE may indicate losses or negative equity.
ADTRAN Holdings, Inc. (ADTN) has a 5-year average gross margin of 34.6%. This indicates decent pricing power.
The Ledger Terminal provides 18 years of financial data for ADTRAN Holdings, Inc. (ADTN), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
ADTRAN Holdings, Inc. (ADTN) has a book value per share of $1.82, based on its most recent annual SEC filing.