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Monday 2 November 2026
Export ADTN’s income statement to Excel — free account
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.
- Revenue
- +6.07%
- EPS
- +45.8%
- Free cash flow
- −52.7%
- Total debt
- +15.1%
Quarter to June 2026, against a year earlier
6.32
0.21
−3.22%
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| Dec '25 | Dec '24 | Dec '23 | Dec '22 | Dec '21 | Dec '20 | Dec '19 | Dec '18 | Dec '17 | Dec '16 | |
|---|---|---|---|---|---|---|---|---|---|---|
P/E ratio |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 323.19 | 0.00 | 0.00 | 40.00 | 31.03 |
Piotroski F-Score |
5 | 4 | 2 | 1 | 4 | 6 | 5 | 4 | 5 | 7 |
P/S ratio |
0.64 | 0.71 | 0.51 | 1.14 | 1.97 | 1.40 | 0.89 | 0.97 | 1.44 | 1.73 |
Altman Z-Score |
0.67 | (0.55) | 0.69 | 1.82 | 6.33 | 6.28 | 4.98 | 4.73 | 6.93 | 6.95 |
P/FCF ratio |
11.45 | 17.12 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 10.86 | 0.00 | 53.67 |
Altman Z″-Score (non-manufacturers) |
(0.43) | (2.53) | 0.99 | 3.51 | 8.39 | 10.07 | 9.26 | 9.16 | 10.93 | 9.76 |
Beneish M-Score |
(2.99) | (5.21) | (3.32) | (1.13) | (2.39) | (2.16) | (3.19) | (3.12) | (1.57) | (2.47) |
P/Operating CF |
16.41 | 269.68 | (42.52) | (785.27) | (42.85) | (63.29) | (37.68) | 76.06 | (14.95) | 77.88 |
P/B ratio |
4.75 | 5.18 | 0.96 | 0.90 | 3.11 | 1.90 | 1.24 | 1.15 | 1.93 | 2.30 |
Price to Tangible BV |
0.00 | 0.00 | 0.00 | 2.25 | 3.35 | 2.07 | 1.37 | 1.27 | 1.97 | 2.32 |
EV/Sales |
0.73 | 0.85 | 0.61 | 1.13 | 1.88 | 1.29 | 0.75 | 0.81 | 1.33 | 1.58 |
EV/EBITDA |
10.04 | 0.00 | 0.00 | 0.00 | 708.37 | 94.98 | 0.00 | 0.00 | 16.56 | 20.30 |
EV/Operating CF |
6.09 | 7.55 | (16.30) | (26.25) | 351.38 | (39.41) | (161.48) | 7.76 | (20.91) | 23.98 |
EV/FCF |
13.07 | 20.35 | (8.83) | (18.94) | (397.20) | (28.39) | (33.36) | 9.08 | (15.56) | 48.99 |
Quick Ratio |
0.97 | 0.92 | 1.16 | 0.98 | 1.46 | 1.95 | 1.90 | 2.07 | 2.56 | 1.83 |
Current Ratio |
1.76 | 2.04 | 2.62 | 2.06 | 2.42 | 3.37 | 2.84 | 3.01 | 3.87 | 2.79 |
Net Debt/EBITDA |
1.11 | (3.18) | (1.50) | 2.63 | (34.97) | (8.36) | 3.34 | 2.82 | (1.42) | (1.92) |
Debt/Assets |
18.10% | 16.18% | 11.62% | 4.94% | 0.88% | 1.14% | 6.05% | 4.08% | 3.99% | 4.17% |
Debt/Equity |
1.50 | 1.49 | 0.32 | 0.07 | 0.01 | 0.02 | 0.09 | 0.06 | 0.05 | 0.06 |
Asset Turnover |
0.91 | 0.65 | 0.63 | 0.82 | 1.03 | 0.95 | 0.90 | 0.82 | 1.00 | 0.98 |
Operating CF/Net income |
(2.84) | (0.23) | 0.16 | 21.71 | (0.35) | (6.95) | 0.05 | (2.87) | (1.78) | 1.19 |
Capex/Depreciation |
(0.73) | (0.17) | (0.30) | (0.25) | (0.35) | (0.39) | (0.53) | (0.51) | (0.90) | (1.42) |
Interest Coverage |
(0.81) | (19.39) | (13.72) | (21.19) | (432.35) | 1,954.58 | (78.21) | (85.22) | 67.24 | 60.44 |
| (33.47%) | (125.62%) | (28.17%) | (0.25%) | (2.37%) | 0.63% | (12.82%) | (4.10%) | 4.88% | 7.34% | |
| (3.84%) | (32.29%) | (14.85%) | (0.16%) | (1.58%) | 0.44% | (9.03%) | (2.98%) | 3.57% | 5.42% | |
ROIC |
(4.18%) | (111.11%) | (19.60%) | (3.53%) | (3.01%) | (1.94%) | (8.15%) | (7.82%) | 5.54% | 5.62% |
Return on Tangible Assets |
(11.48%) | (111.59%) | (47.74%) | (0.36%) | (3.12%) | 0.83% | (19.22%) | (6.08%) | 6.09% | 11.33% |
Average Days of Receivables |
74.56 | 76.45 | 73.18 | 111.14 | 110.19 | 86.73 | 73.75 | 93.85 | 93.44 | 62.04 |
Research and Development Expense of Revenue |
18.85% | 24.00% | 22.48% | 16.94% | 19.30% | 22.37% | 23.81% | 23.53% | 19.59% | 19.62% |
Selling, General and Administrative Expense of Revenue |
20.88% | 25.24% | 22.51% | 20.37% | 22.10% | 22.50% | 24.58% | 23.51% | 20.33% | 20.71% |
Intangible Assets out of Total Assets |
0.29 | 0.29 | 0.41 | 0.40 | 0.05 | 0.06 | 0.06 | 0.06 | 0.01 | 0.01 |
Share Based Compensation of Revenue |
0.93% | 1.73% | 1.43% | 2.76% | 1.33% | 1.35% | 1.31% | 1.35% | 1.11% | 1.05% |
Graham Net Nets |
(0.61) | (0.68) | (0.61) | 0.21 | 0.15 | 0.23 | 0.33 | 0.34 | 0.25 | 0.15 |
Graham Number |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 2.83 | 0.00 | 0.00 | 10.79 | 12.71 |
Earnings Yield |
(5.87%) | (68.55%) | (43.07%) | (0.27%) | (0.79%) | 0.31% | (11.29%) | (3.45%) | 2.50% | 3.22% |
Free Cash Flow Yield |
8.73% | 5.84% | (13.62%) | (5.22%) | (0.24%) | (3.23%) | (2.53%) | 9.21% | (5.91%) | 1.86% |
Revenue per Share |
13.59 | 11.69 | 14.65 | 16.45 | 11.59 | 10.55 | 11.08 | 11.05 | 13.85 | 13.07 |
Operating CF per Share |
1.63 | 1.31 | (0.55) | (0.71) | 0.06 | (0.34) | (0.05) | 1.16 | (0.88) | 0.86 |
Capex per Share |
(0.87) | (0.83) | (0.58) | (0.27) | (0.12) | (0.13) | (0.20) | (0.17) | (0.30) | (0.44) |
Free Cash Flow per Share |
0.76 | 0.49 | (1.13) | (0.98) | (0.05) | (0.48) | (0.25) | 0.99 | (1.18) | 0.42 |
Cash per Share |
1.64 | 0.96 | 1.11 | 1.75 | 1.18 | 1.32 | 2.24 | 2.27 | 2.13 | 2.53 |
Shareholders Equity per Share |
1.83 | 1.61 | 7.72 | 20.91 | 7.35 | 7.77 | 7.95 | 9.32 | 10.34 | 9.84 |
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 |
1.83 | 1.61 | 7.72 | 20.91 | 7.35 | 7.77 | 7.95 | 9.32 | 10.34 | 9.84 |
Free Cash Flow |
60.50 | 38.40 | (88.79) | (61.29) | (2.66) | (22.93) | (11.97) | 47.34 | (56.95) | 20.56 |
Working Capital |
273.36 | 305.67 | 444.97 | 453.78 | 220.97 | 223.23 | 207.60 | 237.42 | 306.30 | 226.37 |
Capital Expenditures |
(69.26) | (65.17) | (45.77) | (17.06) | (5.67) | (6.41) | (9.49) | (8.11) | (14.57) | (21.44) |
Net Current Asset Value |
(423.44) | (445.33) | (353.22) | 242.48 | 164.41 | 164.68 | 155.62 | 173.68 | 241.93 | 165.18 |
EV/EBIT |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 23.70 | 29.14 |
Capex to Sales |
0.06 | 0.07 | 0.04 | 0.02 | 0.01 | 0.01 | 0.02 | 0.02 | 0.02 | 0.03 |
Price to Operating Income |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 25.76 | 31.92 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.76 | 3.68 | 1.28 | 0.61 | 0.29 | 0.27 | 0.26 | 0.20 | 0.19 | 0.18 |
Cash ROIC |
12.23% | 9.78% | (10.01%) | (4.06%) | (0.63%) | (5.18%) | (2.30%) | 8.15% | (9.08%) | 3.26% |
Accounts Receivable Turnover |
5.23 | 4.36 | 4.24 | 4.25 | 3.88 | 4.45 | 4.36 | 3.45 | 4.78 | 6.38 |
Accounts Payable Turnover |
3.94 | 3.58 | 4.08 | 4.11 | 4.52 | 6.10 | 5.93 | 5.40 | 5.27 | 5.48 |
Inventory Turnover |
2.80 | 1.92 | 2.08 | 2.46 | 2.60 | 2.58 | 3.14 | 2.93 | 3.19 | 3.51 |
Average Days of Payables |
91.32 | 104.78 | 72.70 | 124.25 | 108.55 | 63.07 | 52.68 | 67.30 | 60.92 | 81.72 |
Days of Inventory on Hand |
117.73 | 159.50 | 160.83 | 223.47 | 148.16 | 158.47 | 115.41 | 111.89 | 123.13 | 111.07 |
Average Receivables |
207.33 | 211.83 | 271.33 | 241.12 | 145.16 | 113.73 | 121.59 | 153.41 | 139.49 | 99.74 |
Average Payables |
169.58 | 167.37 | 200.31 | 170.09 | 76.21 | 47.40 | 52.46 | 60.34 | 68.99 | 63.01 |
Average Inventory |
238.65 | 310.99 | 393.98 | 283.71 | 132.67 | 111.88 | 99.08 | 111.20 | 113.83 | 98.33 |
Average Assets |
1,187.96 | 1,424.43 | 1,810.47 | 1,256.26 | 547.35 | 535.40 | 586.57 | 648.56 | 668.16 | 650.07 |
Average Common Equity |
136.39 | 366.10 | 954.44 | 830.36 | 365.02 | 376.68 | 413.35 | 472.10 | 488.71 | 479.84 |
Columns are period end dates · fundamentals updated 25 Oct 2026