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.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 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 item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 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 item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 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
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 38.3% | 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 margin | 7.1% | -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 margin | 9.0% | 7.7% | -7.7% | -6.0% | -0.5% | -4.5% |
| FCF / Net income | -2.15 | -0.16 | 0.33 | 30.09 | 0.31 | -9.64 |
| R&D / Revenue | 18.8% | 24.0% | 22.5% | 16.9% | 19.3% | 22.4% |
| SG&A / Revenue | 20.9% | 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 ratio | 1.76 | 2.08 | 2.64 | 1.81 | 2.42 | 3.37 |
| Quick ratio | 1.16 | 1.16 | 1.34 | 0.93 | 1.52 | 2.04 |
| Cash ratio | 0.26 | 0.26 | 0.31 | 0.22 | 0.36 | 0.64 |
| Leverage | ||||||
| Debt / Equity | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - |
| Interest coverage | -0.8x | -18.9x | -13.6x | -21.2x | -432.4x | -1954.6x |
| Equity multiplier | 8.26 | 8.77 | 2.83 | 4.95 | 1.59 | 1.41 |
| Liabilities / Assets | 0.57 | 0.53 | 0.38 | 0.31 | 0.37 | 0.29 |
| Efficiency | ||||||
| Asset turnover | 0.90 | 0.78 | 0.68 | 0.54 | 0.99 | 0.96 |
| Inventory turnover | 3.10 | 2.20 | 2.25 | 1.63 | 2.46 | 2.30 |
| Days sales outstanding | 71d | 70d | 69d | 99d | 103d | 71d |
| Days inventory outstanding | 118d | 166d | 162d | 223d | 148d | 158d |
| Days payable outstanding | 91d | 105d | 73d | 124d | 109d | 63d |
| Cash conversion cycle | 97d | 131d | 158d | 199d | 143d | 167d |
| Valuation | ||||||
| P / E | - | - | - | - | - | 295.4x |
| P / B | 4.8x | 4.9x | 1.0x | 3.1x | 3.1x | 1.9x |
| P / S | 0.6x | 0.7x | 0.5x | 1.1x | 2.0x | 1.4x |
| EV / EBITDA | 7.8x | - | - | - | 760.5x | 95.3x |
| 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 totalNetwork Solutions$896.91M · 82.8%
Services And Support$186.90M · 17.2%
Product / service
$1.18B totalSubscriber 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 totalUS$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
Comparing ADTRAN Holdings against the 5 most active filers in the same SIC group.
Dividends
$0.00/share trailing 12 months
| Ex-date | Per 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 |