| Nov 25 | Feb 26 | May 26 | Aug 26 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Buy | — | 3 | — | — | — | — | — | — | — | — | 1 | — |
| Sell | — | — | — | — | — | 1 | — | 2 | — | — | — | — |
| total | individual payouts | |
|---|---|---|
| 2024 | ‡‡‡‡ |
|
| 2023 | 0.27 |
—
—
—
|
| 2022 | 0.36 |
—
—
—
—
|
| 2021 | 0.36 |
—
—
—
—
|
| 2020 | 0.36 |
—
—
—
—
|
| 2019 | 0.36 |
—
—
—
—
|
| 2018 | 0.36 |
—
—
—
—
|
| 2017 | 0.36 |
—
—
—
—
|
| 2016 | 0.36 |
—
—
—
—
|
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Cash | 87.17 | 76.02 | 130.87 | 118.31 |
| Receivables | 230.39 | 193.27 | 221.40 | 218.36 |
| Inventory | 360.42 | 261.56 | 215.74 | 208.78 |
| Other | — | 11.90 | 11.90 | 11.90 |
| 718.97 | 599.14 | 635.22 | 617.79 |
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Payables | 162.92 | 171.83 | 167.34 | 169.32 |
| ST’ Debt | — | — | — | — |
| Other | — | — | — | — |
| 274.00 | 293.47 | 361.86 | 344.81 |
| 10y | 5y | 3y | |
| Sales | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Cash Flow | ‡‡‡‡‡ | ‡‡‡ | ‡‡‡ |
| Earnings | ‡‡‡ | ‡‡‡ | ‡‡‡ |
| Book Value | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 286.09 | 281.15 | — | — |
—
|
| ’25 | 247.74 | 265.07 | 279.44 | 291.56 |
1,083.81
|
| ’24 | 226.17 | 225.99 | 227.70 | 242.85 |
922.72
|
| ’23 | 323.91 | 327.38 | 272.33 | 225.48 |
1,149.10
|
| ’22 | 154.52 | 172.04 | 340.71 | 358.27 |
1,025.54
|
| ’21 | 127.53 | 143.23 | 138.08 | 154.16 |
563.00
|
| ’20 | 114.52 | 128.72 | 133.14 | 130.13 |
506.51
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 12.67 | 25.92 | — | — |
—
|
| ’25 | 43.18 | 32.16 | 12.19 | 42.24 |
129.77
|
| ’24 | 37.93 | 19.88 | 43.32 | 2.44 |
103.57
|
| ’23 | (19.93) | (16.23) | 6.85 | (13.70) |
(43.01)
|
| ’22 | 4.87 | (10.79) | (36.81) | (1.49) |
(44.23)
|
| ’21 | 10.69 | 7.53 | 10.68 | (25.88) |
3.01
|
| ’20 | (0.02) | 1.71 | (7.00) | (11.20) |
(16.52)
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | (3.27) | 8.68 | — | — |
—
|
| ’25 | 24.49 | 18.33 | (4.84) | 22.53 |
60.50
|
| ’24 | 23.22 | 3.89 | 23.18 | (11.90) |
38.40
|
| ’23 | (28.36) | (27.91) | (6.71) | (25.80) |
(88.79)
|
| ’22 | 3.41 | (12.61) | (43.66) | (8.43) |
(61.29)
|
| ’21 | 9.94 | 6.06 | 9.32 | (27.98) |
(2.66)
|
| ’20 | (1.43) | (0.04) | (8.93) | (12.53) |
(22.93)
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | (0.01) | (0.13) | — | — |
—
|
| ’25 | (0.13) | (0.24) | (0.12) | (0.02) |
(0.52)
|
| ’24 | (4.12) | (0.63) | (0.36) | (0.58) |
(5.67)
|
| ’23 | (0.44) | (0.43) | (0.93) | (1.40) |
(3.41)
|
| ’22 | (0.02) | 0.04 | (0.57) | 0.49 |
(0.03)
|
| ’21 | 0.02 | 0.10 | (0.21) | (0.09) |
(0.18)
|
| ’20 | (0.21) | 0.02 | 0.11 | 0.13 |
0.05
|
| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡ | ‡‡‡‡‡ | 16.30 | 4.91 | 4.34 | 6.93 | — | — | — |
Low Price
|
| ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 25.47 | 20.21 | 9.21 | 12.44 | — | — | — |
High Price
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 3,307 | 3,227 | 3,234 | 3,338 | — | — | — |
Employees
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.31 | 0.36 | 0.29 | 0.32 | — | — | — |
Revenue/Emp
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1,025.54 | 1,149.10 | 922.72 | 1,083.81 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 31.91% | 28.82% | 35.13% | 38.29% | — | — | — |
Gross Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (70.96) | (233.61) | (442.73) | (31.25) | — | — | — |
EBT
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (6.92%) | (20.33%) | (47.98%) | (2.88%) | ‡‡‡ | ‡‡‡ | ‡‡‡ |
EBT Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (8.89) | (261.91) | (450.07) | (36.24) | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Net Income
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 67.86 | 151.66 | 391.83 | 94.34 | — | — | — |
Depreciation
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 16.45 | 14.65 | 11.69 | 13.59 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue/Sh
|
| ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡‡ | (0.03) | (3.41) | (5.67) | (0.52) | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ |
Earnings/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (0.71) | (0.55) | 1.31 | 1.63 | — | — | — |
Cash Flow/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (0.27) | (0.58) | (0.83) | (0.87) | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Capex/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (0.98) | (1.13) | 0.49 | 0.76 | — | — | — |
Free CF/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 20.91 | 7.72 | 1.61 | 1.83 | ‡‡‡‡‡ | — | — |
Book Value/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 62.35 | 78.42 | 78.93 | 79.74 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Shares
|
| ‡‡‡‡‡ | ‡‡‡‡ | ‡‡‡ | ‡‡‡ | ‡‡‡‡‡ | ‡‡‡ | 0.00 | 0.00 | 0.00 | 0.00 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ |
PE Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ | 1.14 | 0.51 | 0.71 | 0.64 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PS Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.90 | 0.96 | 5.18 | 4.75 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PB Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1.13 | 0.61 | 0.85 | 0.73 | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ |
EV/Sales
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (18.94) | (8.83) | 20.35 | 13.07 | — | — | — |
EV/FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (44.23) | (43.01) | 103.57 | 129.77 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Op' Cash Flow
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (17.06) | (45.77) | (65.17) | (69.26) | ‡‡‡‡‡ | ‡‡‡‡‡ | — |
Capex
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (61.29) | (88.79) | 38.40 | 60.50 | ‡‡‡‡‡ | — | — |
FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 453.78 | 444.97 | 305.67 | 273.36 | — | — | — |
Working Cap'
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 95.94 | 195.00 | 189.58 | 218.04 | — | — | — |
Total Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (13.05) | 107.83 | 113.56 | 87.17 | — | — | — |
Net Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1,303.61 | 605.26 | 126.95 | 145.83 | — | — | — |
Sh' Equity
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (0.16%) | (14.85%) | (32.29%) | (3.84%) | — | — | — |
ROA
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (3.53%) | (19.60%) | (111.11%) | (4.18%) | — | — | — |
ROIC
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (0.25%) | (28.17%) | (125.62%) | (33.47%) | — | — | — |
ROE
|
Adtran Holdings (ADTN) exemplifies the perils of aggressive growth in telecom equipment, where a 2022 merger with CommScope’s Ruckus and broadband units more than doubled revenue to over $1 billion but triggered deep losses, eroding gross margins from 43% to as low as 29% and cratering ROE to -126% by 2024. Balance sheet strain mounted with debt rising to $190 million and book value per share plummeting 79%, though net debt moderated and free cash flow flickered positive at $0.49 per share last year amid inventory discipline. The stock, trading at a compressed 0.71 price-to-sales ratio, reflects market skepticism over post-merger integration woes and profitability erosion.
Recent insider buying by top executives totaling over $449,000 signals quiet confidence at depressed levels, aligning with stabilizing revenue and analyst forecasts of a turnaround: revenue growth to $1.29 billion by 2027, narrowing losses, and EPS flipping to $0.32. Tailwinds like U.S. BEAD broadband funding could bolster ADTN’s fiber and SD-WAN positioning, with mean price targets implying 21% upside.
Yet risks abound—ongoing impairments, China competition, and execution slips could prolong the value trap narrative, keeping ROIC deeply negative and capex a drag on cash flows. For risk-averse investors eyeing steady recovery plays, ADTN warrants scrutiny of margin rebounds and deleveraging before committing; the full analysis dissects these correlations in detail.
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