Sunday 11 October 2026
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ADTRAN Holdings, Inc.
ADTN Technology Communication Equipment
ADTRAN Holdings, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $1.1 billion, up 17.5% from fiscal 2024. In the quarter to June 2026, revenue grew 6.07%, EPS grew 45.8%, free cash flow fell 52.7% and total debt rose 15.1%, each against the same quarter a year earlier. Dividend growth for ten consecutive years, operating cash flow growth for three; insiders bought in the last twelve months.
7.46
0.03
−0.40%
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| Dec '16 | Dec '17 | Dec '18 | Dec '19 | Dec '20 | Dec '21 | Dec '22 | Dec '23 | Dec '24 | Dec '25 | |
|---|---|---|---|---|---|---|---|---|---|---|
P/E ratio |
31.03 | 40.00 | 0.00 | 0.00 | 323.19 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Piotroski F-Score |
7 | 5 | 4 | 5 | 6 | 4 | 1 | 2 | 4 | 5 |
P/S ratio |
1.73 | 1.44 | 0.97 | 0.89 | 1.40 | 1.97 | 1.14 | 0.51 | 0.71 | 0.64 |
Altman Z-Score |
6.95 | 6.93 | 4.73 | 4.98 | 6.28 | 6.33 | 1.82 | 0.69 | (0.55) | 0.67 |
P/FCF ratio |
53.67 | 0.00 | 10.86 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 17.12 | 11.45 |
Altman Z″-Score (non-manufacturers) |
9.76 | 10.93 | 9.16 | 9.26 | 10.07 | 8.39 | 3.51 | 0.99 | (2.53) | (0.43) |
Beneish M-Score |
(2.47) | (1.57) | (3.12) | (3.19) | (2.16) | (2.39) | (1.13) | (3.32) | (5.21) | (2.99) |
P/Operating CF |
77.88 | (14.95) | 76.06 | (37.68) | (63.29) | (42.85) | (785.27) | (42.52) | 269.68 | 16.41 |
P/B ratio |
2.30 | 1.93 | 1.15 | 1.24 | 1.90 | 3.11 | 0.90 | 0.96 | 5.18 | 4.75 |
Price to Tangible BV |
2.32 | 1.97 | 1.27 | 1.37 | 2.07 | 3.35 | 2.25 | 0.00 | 0.00 | 0.00 |
EV/Sales |
1.58 | 1.33 | 0.81 | 0.75 | 1.29 | 1.88 | 1.13 | 0.61 | 0.85 | 0.73 |
EV/EBITDA |
20.30 | 16.56 | 0.00 | 0.00 | 94.98 | 708.37 | 0.00 | 0.00 | 0.00 | 10.04 |
EV/Operating CF |
23.98 | (20.91) | 7.76 | (161.48) | (39.41) | 351.38 | (26.25) | (16.30) | 7.55 | 6.09 |
EV/FCF |
48.99 | (15.56) | 9.08 | (33.36) | (28.39) | (397.20) | (18.94) | (8.83) | 20.35 | 13.07 |
Quick Ratio |
1.83 | 2.56 | 2.07 | 1.90 | 1.95 | 1.46 | 0.98 | 1.16 | 0.92 | 0.97 |
Current Ratio |
2.79 | 3.87 | 3.01 | 2.84 | 3.37 | 2.42 | 2.06 | 2.62 | 2.04 | 1.76 |
Net Debt/EBITDA |
(1.92) | (1.42) | 2.82 | 3.34 | (8.36) | (34.97) | 2.63 | (1.50) | (3.18) | 1.11 |
Debt/Assets |
4.17% | 3.99% | 4.08% | 6.05% | 1.14% | 0.88% | 4.94% | 11.62% | 16.18% | 18.10% |
Debt/Equity |
0.06 | 0.05 | 0.06 | 0.09 | 0.02 | 0.01 | 0.07 | 0.32 | 1.49 | 1.50 |
Asset Turnover |
0.98 | 1.00 | 0.82 | 0.90 | 0.95 | 1.03 | 0.82 | 0.63 | 0.65 | 0.91 |
Operating CF/Net income |
1.19 | (1.78) | (2.87) | 0.05 | (6.95) | (0.35) | 21.71 | 0.16 | (0.23) | (2.84) |
Capex/Depreciation |
(1.42) | (0.90) | (0.51) | (0.53) | (0.39) | (0.35) | (0.25) | (0.30) | (0.17) | (0.73) |
Interest Coverage |
60.44 | 67.24 | (85.22) | (78.21) | 1,954.58 | (432.35) | (21.19) | (13.72) | (19.39) | (0.81) |
| 7.34% | 4.88% | (4.10%) | (12.82%) | 0.63% | (2.37%) | (0.25%) | (28.17%) | (125.62%) | (33.47%) | |
| 5.42% | 3.57% | (2.98%) | (9.03%) | 0.44% | (1.58%) | (0.16%) | (14.85%) | (32.29%) | (3.84%) | |
ROIC |
5.62% | 5.54% | (7.82%) | (8.15%) | (1.94%) | (3.01%) | (3.53%) | (19.60%) | (111.11%) | (4.18%) |
Return on Tangible Assets |
11.33% | 6.09% | (6.08%) | (19.22%) | 0.83% | (3.12%) | (0.36%) | (47.74%) | (111.59%) | (11.48%) |
Average Days of Receivables |
62.04 | 93.44 | 93.85 | 73.75 | 86.73 | 110.19 | 111.14 | 73.18 | 76.45 | 74.56 |
Research and Development Expense of Revenue |
19.62% | 19.59% | 23.53% | 23.81% | 22.37% | 19.30% | 16.94% | 22.48% | 24.00% | 18.85% |
Selling, General and Administrative Expense of Revenue |
20.71% | 20.33% | 23.51% | 24.58% | 22.50% | 22.10% | 20.37% | 22.51% | 25.24% | 20.88% |
Intangible Assets out of Total Assets |
0.01 | 0.01 | 0.06 | 0.06 | 0.06 | 0.05 | 0.40 | 0.41 | 0.29 | 0.29 |
Share Based Compensation of Revenue |
1.05% | 1.11% | 1.35% | 1.31% | 1.35% | 1.33% | 2.76% | 1.43% | 1.73% | 0.93% |
Graham Net Nets |
0.15 | 0.25 | 0.34 | 0.33 | 0.23 | 0.15 | 0.21 | (0.61) | (0.68) | (0.61) |
Graham Number |
12.71 | 10.79 | 0.00 | 0.00 | 2.83 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Earnings Yield |
3.22% | 2.50% | (3.45%) | (11.29%) | 0.31% | (0.79%) | (0.27%) | (43.07%) | (68.31%) | (5.87%) |
Free Cash Flow Yield |
1.86% | (5.91%) | 9.21% | (2.53%) | (3.23%) | (0.24%) | (5.22%) | (13.62%) | 5.84% | 8.73% |
Revenue per Share |
13.07 | 13.85 | 11.05 | 11.08 | 10.55 | 11.59 | 16.45 | 14.65 | 11.69 | 13.59 |
Operating CF per Share |
0.86 | (0.88) | 1.16 | (0.05) | (0.34) | 0.06 | (0.71) | (0.55) | 1.31 | 1.63 |
Capex per Share |
(0.44) | (0.30) | (0.17) | (0.20) | (0.13) | (0.12) | (0.27) | (0.58) | (0.83) | (0.87) |
Free Cash Flow per Share |
0.42 | (1.18) | 0.99 | (0.25) | (0.48) | (0.05) | (0.98) | (1.13) | 0.49 | 0.76 |
Cash per Share |
2.53 | 2.13 | 2.27 | 2.24 | 1.32 | 1.18 | 1.75 | 1.11 | 0.96 | 1.64 |
Shareholders Equity per Share |
9.84 | 10.34 | 9.32 | 7.95 | 7.77 | 7.35 | 20.91 | 7.72 | 1.61 | 1.83 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
9.84 | 10.34 | 9.32 | 7.95 | 7.77 | 7.35 | 20.91 | 7.72 | 1.61 | 1.83 |
Free Cash Flow |
20.56 | (56.95) | 47.34 | (11.97) | (22.93) | (2.66) | (61.29) | (88.79) | 38.40 | 60.50 |
Working Capital |
226.37 | 306.30 | 237.42 | 207.60 | 223.23 | 220.97 | 453.78 | 444.97 | 305.67 | 273.36 |
Capital Expenditures |
(21.44) | (14.57) | (8.11) | (9.49) | (6.41) | (5.67) | (17.06) | (45.77) | (65.17) | (69.26) |
Net Current Asset Value |
165.18 | 241.93 | 173.68 | 155.62 | 164.68 | 164.41 | 242.48 | (353.22) | (445.33) | (423.44) |
EV/EBIT |
29.14 | 23.70 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Capex to Sales |
0.03 | 0.02 | 0.02 | 0.02 | 0.01 | 0.01 | 0.02 | 0.04 | 0.07 | 0.06 |
Price to Operating Income |
31.92 | 25.76 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.18 | 0.19 | 0.20 | 0.26 | 0.27 | 0.29 | 0.61 | 1.28 | 3.68 | 0.76 |
Cash ROIC |
3.26% | (9.08%) | 8.15% | (2.30%) | (5.18%) | (0.63%) | (4.06%) | (10.01%) | 9.78% | 12.23% |
Accounts Receivable Turnover |
6.38 | 4.78 | 3.45 | 4.36 | 4.45 | 3.88 | 4.25 | 4.24 | 4.36 | 5.23 |
Accounts Payable Turnover |
5.48 | 5.27 | 5.40 | 5.93 | 6.10 | 4.52 | 4.11 | 4.08 | 3.58 | 3.94 |
Inventory Turnover |
3.51 | 3.19 | 2.93 | 3.14 | 2.58 | 2.60 | 2.46 | 2.08 | 1.92 | 2.80 |
Average Days of Payables |
81.72 | 60.92 | 67.30 | 52.68 | 63.07 | 108.55 | 124.25 | 72.70 | 104.78 | 91.32 |
Days of Inventory on Hand |
111.07 | 123.13 | 111.89 | 115.41 | 158.47 | 148.16 | 223.47 | 160.83 | 159.50 | 117.73 |
Average Receivables |
99.74 | 139.49 | 153.41 | 121.59 | 113.73 | 145.16 | 241.12 | 271.33 | 211.83 | 207.33 |
Average Payables |
63.01 | 68.99 | 60.34 | 52.46 | 47.40 | 76.21 | 170.09 | 200.31 | 167.37 | 169.58 |
Average Inventory |
98.33 | 113.83 | 111.20 | 99.08 | 111.88 | 132.67 | 283.71 | 393.98 | 310.99 | 238.65 |
Average Assets |
650.07 | 668.16 | 648.56 | 586.57 | 535.40 | 547.35 | 1,256.26 | 1,810.47 | 1,424.43 | 1,187.96 |
Average Common Equity |
479.84 | 488.71 | 472.10 | 413.35 | 376.68 | 365.02 | 830.36 | 954.44 | 366.10 | 136.39 |
Columns are period end dates