CoverageForm 410-K10-Q8-K13D13G13F

ADTN · Adtran Holdings, Inc. - Financials

Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.

Price · ADTN

Income Statement

Line itemFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Revenue$1.08B$922.72M$1.15B$1.03B$563.00M$506.51M
Cost of Revenue$668.85M$592.41M$816.04M$698.28M$344.63M$288.96M
Gross Profit$414.95M$330.31M$333.06M$327.25M$218.38M$217.55M
R&D$204.28M$221.46M$258.31M$173.76M$108.66M$113.29M
SG&A$226.28M$233.37M$258.15M$208.89M$124.41M$113.97M
Total Operating Expenses------
D&A$92.55M$90.98M$112.95M$67.55M$16.08M$16.63M
Operating Income($15.60M)($417.10M)($221.27M)($72.83M)($14.70M)($9.77M)
Interest Expense$19.34M$22.05M$16.30M$3.44M$34.0K$5.0K
Income Tax$4.99M$8.79M$28.13M($62.08M)$2.33M($8.62M)
Net Income($45.66M)($450.87M)($267.69M)($2.04M)($8.63M)$2.38M
EPS - Basic($0.52)($5.67)($3.41)($0.03)($0.18)$0.05
EPS - Diluted($0.52)($5.67)($3.41)($0.03)($0.18)$0.05

Balance Sheet

Line itemFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Cash & Equivalents$95.70M$77.57M$87.17M$108.64M$56.60M$60.16M
Accounts Receivable$210.69M$178.03M$216.44M$279.44M$158.74M$98.83M
Inventory$215.74M$269.34M$362.30M$427.53M$139.89M$125.46M
Accounts Payable$167.34M$170.45M$162.92M$237.70M$102.49M$49.93M
Current Assets$635.22M$610.61M$736.86M$882.36M$376.32M$317.42M
Total Assets$1.20B$1.18B$1.68B$1.88B$569.02M$525.68M
Current Liabilities$361.86M$293.64M$279.51M$488.57M$155.36M$94.19M
Long-term Debt------
Total Liabilities$685.34M$622.01M$636.93M$578.25M$211.91M$152.74M
Stockholders' Equity$145.83M$134.41M$593.82M$380.43M$357.10M$372.94M
Retained Earnings($730.01M)($680.99M)($243.91M)$55.34M$740.82M$781.81M

Cash Flow

Line itemFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Operating Cash Flow$129.77M$103.07M($45.60M)($44.23M)$3.01M($16.52M)
Investing Cash Flow($69.17M)($62.21M)($32.20M)$55.83M$10.27M$41.40M
Financing Cash Flow($46.68M)($50.01M)$58.87M$52.94M($12.96M)($42.98M)
CapEx$31.74M$32.45M$43.12M$17.07M$5.67M$6.41M
Free Cash Flow$98.03M$70.62M($88.72M)($61.30M)($2.66M)($22.93M)

Ratios

MetricFY 2025FY 2024FY 2023FY 2022FY 2021FY 2020
Profitability
Gross margin38.3%35.8%29.0%31.9%38.8%43.0%
Operating margin-1.4%-45.2%-19.3%-7.1%-2.6%-1.9%
EBITDA margin7.1%-35.3%-9.4%-0.5%0.2%1.4%
Net margin-4.2%-48.9%-23.3%-0.2%-1.5%0.5%
Free cash flow margin9.0%7.7%-7.7%-6.0%-0.5%-4.5%
FCF / Net income-2.15-0.160.3330.090.31-9.64
R&D / Revenue18.8%24.0%22.5%16.9%19.3%22.4%
SG&A / Revenue20.9%25.3%22.5%20.4%22.1%22.5%
Effective tax rate------
Return on assets-3.8%-38.2%-15.9%-0.1%-1.5%0.5%
Return on equity-31.3%-335.4%-45.1%-0.5%-2.4%0.6%
Return on invested capital------
Liquidity
Current ratio1.762.082.641.812.423.37
Quick ratio1.161.161.340.931.522.04
Cash ratio0.260.260.310.220.360.64
Leverage
Debt / Equity------
Debt / Assets------
Debt / EBITDA------
Interest coverage-0.8x-18.9x-13.6x-21.2x-432.4x-1954.6x
Equity multiplier8.268.772.834.951.591.41
Liabilities / Assets0.570.530.380.310.370.29
Efficiency
Asset turnover0.900.780.680.540.990.96
Inventory turnover3.102.202.251.632.462.30
Days sales outstanding71d70d69d99d103d71d
Days inventory outstanding118d166d162d223d148d158d
Days payable outstanding91d105d73d124d109d63d
Cash conversion cycle97d131d158d199d143d167d
Valuation
P / E-----295.4x
P / B4.8x4.9x1.0x3.1x3.1x1.9x
P / S0.6x0.7x0.5x1.1x2.0x1.4x
EV / EBITDA7.8x---760.5x95.3x
Growth
Revenue growth (YoY)17.5%-19.7%12.0%82.2%11.2%-4.4%
Revenue CAGR (3y)1.9%17.9%31.4%24.6%-4.0%-8.8%
Revenue CAGR (5y)16.4%11.7%12.5%9.0%-2.4%-3.3%
Gross profit growth (YoY)25.6%-0.8%1.8%49.9%0.4%-0.7%
Operating income growth (YoY)96.3%-88.5%-203.8%-395.4%-50.4%75.5%
Net income growth (YoY)89.9%-68.4%-13041.3%76.4%--
EPS growth (YoY)90.8%-66.3%-11266.7%83.3%--
EPS CAGR (3y)------53.3%
EPS CAGR (5y)------32.6%
FCF growth (YoY)38.8%--44.7%-2203.6%88.4%-91.6%
FCF CAGR (5y)------
Book value growth (YoY)8.5%-77.4%56.1%6.5%-4.2%-2.0%

Sales by segment

From XBRL dimensional facts in the 10-K period ending 2025-12-31.

Business segments

$1.08B total
Network Solutions$896.91M · 82.8%
Services And Support$186.90M · 17.2%

Product / service

$1.18B total
Subscriber Solutions$336.30M · 28.6%
Optical Networking Solutions$281.77M · 24.0%
Access Aggregation Solutions$278.84M · 23.7%
Access And Aggregations$278.84M · 23.7%

Geographic

$1.08B total
US$480.75M · 44.4%
Other International$260.21M · 24.0%
GB$213.11M · 19.7%
DE$129.73M · 12.0%

Stability scores

Altman Z′

FY 2025 · bankruptcy risk

0.60
Distress

Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.

Piotroski F-score

FY 2025 · 9-point quality

5/9
Neutral
  • Net income positive
  • Operating cash flow positive
  • ROA improved YoY
  • Cash flow > net income
  • -Long-term debt decreased
  • Current ratio improved
  • No share dilution
  • Gross margin improved
  • Asset turnover improved

Peer comparison

Same SIC group: Telephone & Telegraph Apparatus

CompanyRevenue (last FY)Net marginROE
CIEN---
vplm---642.5%
INFN$1.42B-10.6%-129.0%
NTGR$699.62M-2.6%-3.6%
CLFD$150.13M-5.4%-3.1%

Comparing ADTRAN Holdings against the 5 most active filers in the same SIC group.

Dividends

$0.00/share trailing 12 months

Ex-datePer share
Aug 18, 2023$0.0900
May 22, 2023$0.0900
Mar 6, 2023$0.0900
Nov 21, 2022$0.0900
Aug 17, 2022$0.0900
May 18, 2022$0.0900
Feb 16, 2022$0.0900
Nov 15, 2021$0.0900
Aug 18, 2021$0.0900
May 19, 2021$0.0900
Feb 17, 2021$0.0900
Nov 16, 2020$0.0900
Aug 19, 2020$0.0900
May 20, 2020$0.0900
Feb 19, 2020$0.0900
Nov 13, 2019$0.0900
Jul 31, 2019$0.0900
May 1, 2019$0.0900
Feb 6, 2019$0.0900
Oct 30, 2018$0.0900
Jul 31, 2018$0.0900
May 1, 2018$0.0900
Jan 30, 2018$0.0900
Oct 31, 2017$0.0900