Sunday 11 October 2026 Export all ADTN data to Excel Powerpack

ADTRAN Holdings, Inc.

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.

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Market cap: $610.3M
P/E: 0.0×
Fwd P/E: −73.1×
Dividend yield: —
F-score: 5/9
Altman Z: 0.67
Beneish M: −2.99
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total buys 0.50

Total sells 2.51

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	3	—	—	—	—	—	—	—	—	1	—	—
Sell	—	—	—	—	1	—	2	—	—	—	—	—

Insider Ownership 7.63%

Capital & Financial Ratios $m

Market Cap 610.30

Revenue 1,138.23

Net Income (16.81)

Free Cash Flow 23.10

Net Debt 100.51

Current Ratio 1.79

Debt/Equity 1.69

P/E ratio 0.00

Fwd P/E (73.10)

P/S ratio 0.53

P/B ratio 4.66

Past 5Y EPS Growth —

This Y EPS Growth 25.70%

Next Y EPS Growth 101.42%

Next Y revenue growth 5.74%

Next 5Y EPS Growth 55.51%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/S against its own 10 years 11.93%

10-year low 10-year high

P/B against its own 10 years 88.81%

10-year low 10-year high

EV/Sales against its own 10 years 14.44%

10-year low 10-year high

EV/FCF against its own 10 years 37.37%

10-year low 10-year high

Dividends

Payout Ratio —

Annual Dividend Rate —

Annual Dividend Yield —

	total	individual payouts
2024	Powerpack
2023	0.27	0.09 0.09 0.09
2022	0.36	0.09 0.09 0.09 0.09
2021	0.36	0.09 0.09 0.09 0.09
2020	0.36	0.09 0.09 0.09 0.09
2019	0.36	0.09 0.09 0.09 0.09
2018	0.36	0.09 0.09 0.09 0.09
2017	0.36	0.09 0.09 0.09 0.09
2016	0.36	0.09 0.09 0.09 0.09

special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	87	76	131	118
Receivables	230	193	221	218
Inventory	360	262	216	209
Other	—	12	12	12
	719	599	635	618

	2023	2024	2025	Q'26
Payables	163	172	167	169
ST’ Debt	—	—	—	—
Other	—	—	—	—
	274	293	362	345

Compound Annual Growth %

	10y	5y	3y
Sales	6.09%	16.43%	1.86%
Cash Flow	21.47%	0.00%	0.00%
Earnings	0.00%	0.00%	0.00%
Book Value	(11.23%)	(17.12%)	(51.82%)

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	286	281	—	—	—
’25	248	265	279	292	1,084
’24	226	226	228	243	923
’23	324	327	272	225	1,149
’22	155	172	341	358	1,026
’21	128	143	138	154	563
’20	115	129	133	130	507

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	13	26	—	—	—
’25	43	32	12	42	130
’24	38	20	43	2	104
’23	(20)	(16)	7	(14)	(43)
’22	5	(11)	(37)	(1)	(44)
’21	11	8	11	(26)	3
’20	0	2	(7)	(11)	(17)

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(3)	9	—	—	—
’25	24	18	(5)	23	61
’24	23	4	23	(12)	38
’23	(28)	(28)	(7)	(26)	(89)
’22	3	(13)	(44)	(8)	(61)
’21	10	6	9	(28)	(3)
’20	(1)	0	(9)	(13)	(23)

Fiscal quarters ending in the months shown.

EPS $

	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

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	16.27	18.65	10.21	8.09	4.80	14.37	16.30	4.91	4.34	6.93	Analyst estimates 2026–2028 Powerpack
	High	23.75	25.10	20.45	17.81	16.18	24.76	25.47	20.21	9.21	12.44
People
People	Employees	2,033	2,060	1,900	1,790	1,405	1,335	3,307	3,227	3,234	3,338
	Revenue/emp, $m	0.31	0.32	0.28	0.30	0.36	0.42	0.31	0.36	0.29	0.32
Income, $m
Income, $m	Revenue	637	667	529	530	507	563	1,026	1,149	923	1,084
	Gross margin, %	45.75	45.53	38.46	41.35	42.95	38.79	31.91	28.82	35.13	38.29
	EBT	47	45	(33)	(25)	(6)	(6)	(71)	(234)	(443)	(31)
	EBT margin, %	7.36	6.70	(6.31)	(4.67)	(1.23)	(1.12)	(6.92)	(20.33)	(47.98)	(2.88)
	Net income	35	24	(19)	(53)	2	(9)	(9)	(262)	(450)	(36)
	Depreciation	15	16	16	18	17	16	68	152	392	94
Per share, $
Per share, $	Revenue	13.07	13.85	11.05	11.08	10.55	11.59	16.45	14.65	11.69	13.59
	Earnings	0.72	0.49	(0.40)	(1.13)	0.05	(0.18)	(0.03)	(3.41)	(5.67)	(0.52)
	Cash flow	0.86	(0.88)	1.16	(0.05)	(0.34)	0.06	(0.71)	(0.55)	1.31	1.63
	Capex	(0.44)	(0.30)	(0.17)	(0.20)	(0.13)	(0.12)	(0.27)	(0.58)	(0.83)	(0.87)
	Free cash flow	0.42	(1.18)	0.99	(0.25)	(0.48)	(0.05)	(0.98)	(1.13)	0.49	0.76
	Book value	9.84	10.34	9.32	7.95	7.77	7.35	20.91	7.72	1.61	1.83
	Shares, m	49	48	48	48	48	49	62	78	79	80
Valuation, ×
Valuation, ×	P/E	31.03	40.00	0.00	0.00	323.19	0.00	0.00	0.00	0.00	0.00
	P/S	1.73	1.44	0.97	0.89	1.40	1.97	1.14	0.51	0.71	0.64
	P/B	2.30	1.93	1.15	1.24	1.90	3.11	0.90	0.96	5.18	4.75
	EV/Sales	1.58	1.33	0.81	0.75	1.29	1.88	1.13	0.61	0.85	0.73
	EV/FCF	48.99	(15.56)	9.08	(33.36)	(28.39)	(397.20)	(18.94)	(8.83)	20.35	13.07
Cash, $m
Cash, $m	Operating cash flow	42	(42)	55	(2)	(17)	3	(44)	(43)	104	130
	Capex	(21)	(15)	(8)	(9)	(6)	(6)	(17)	(46)	(65)	(69)
	Free cash flow	21	(57)	47	(12)	(23)	(3)	(61)	(89)	38	61
Balance, $m
Balance, $m	Working capital	226	306	237	208	223	221	454	445	306	273
	Total debt	28	27	26	33	6	5	96	195	190	218
	Net debt	(95)	(76)	(83)	(74)	(57)	(52)	(13)	108	114	87
	Shareholders’ equity	480	498	446	380	373	357	1,304	605	127	146
Returns, %
Returns, %	ROA	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)
	ROE	7.34	4.88	(4.10)	(12.82)	0.63	(2.37)	(0.25)	(28.17)	(125.62)	(33.47)

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
HLIT Harmonic Inc.	$1.2B	— (loss-making)	32.4×	+53.55% (above 0%: growing)	n/m	+54.60% (above 0%: growing)	52.37%	17.71%	Compare
FEIM Frequency Electronics, Inc.	$842.3M	300×	65.7×	+69.79% (above 0%: growing)	+485.71% (above 0%: growing)	+361.82% (above 0%: growing)	45.84%	22.17%	Compare
GILT Gilat Satellite Networks Ltd.	$717.9M	19.4×	44.7×	+16.86% (above 0%: growing)	−35.29% (below 0%: shrinking)	−250.32% (below 0%: shrinking)	30.37%	3.83%	Compare
TSAT Telesat Corporation	$681.5M	— (loss-making)	— (loss-making)	−25.15% (below 0%: shrinking)	n/m	+68.09% (above 0%: growing)	93.15%	(16.02%)	Compare
NTGR NETGEAR, Inc.	$630.6M	— (loss-making)	— (loss-making)	−1.16% (below 0%: shrinking)	n/m	−118.63% (below 0%: shrinking)	40.21%	(5.01%)	Compare
ADTN ADTRAN Holdings, Inc.	$610.3M	— (loss-making)	— (loss-making)	+6.07% (above 0%: growing)	n/m	−52.65% (below 0%: shrinking)	36.97%	(3.58%)
CLFD Clearfield, Inc.	$450.2M	— (loss-making)	76.5×	+13.18% (above 0%: growing)	+100.00% (above 0%: growing)	−6.00% (below 0%: shrinking)	31.79%	5.86%	Compare
SILC Silicom Ltd	$326.7M	— (loss-making)	— (loss-making)	+58.51% (above 0%: growing)	n/m	−29.51% (below 0%: shrinking)	30.11%	(8.37%)	Compare
LTRX Lantronix, Inc.	$320.2M	— (loss-making)	179×	+8.03% (above 0%: growing)	n/m	+89.00% (above 0%: growing)	43.67%	(1.26%)	Compare
Median of peers	$656.0M	—	65.7×	+15.02%	+100.00%	+24.30%	41.94%	1.29%

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