ADTRAN Holdings, Inc. (ADTN) vs Harmonic Inc. (HLIT)

ADTRAN Holdings, Inc. and Harmonic Inc. are both Communication Equipment companies. Harmonic Inc. is the larger, with a market value of $1.2B against $563.5M — 2.1× the size. ADTRAN Holdings, Inc. grew revenue faster over the last twelve months: 15.8% against 11.2%. ADTRAN Holdings, Inc. has the higher net margin (−2.29% vs −10.6%) and the lower return on invested capital (−0.55% vs 13.6%). Across the 20 metrics below, Harmonic Inc. leads on 12 and ADTRAN Holdings, Inc. on 8.

Valuation

Metric ADTN HLIT Communication Equipment median
P/E n/m n/m 33.61
P/S 0.51 2.70 2.16
P/B 4.46 3.32 2.40
Price to free cash flow 25.02 22.19 25.02
EV/EBITDA 6.98 8.94 13.78
EV/Sales 0.61 2.42 2.27
Earnings yield (3.92%) (3.81%) (0.65%)
Free cash flow yield 4.00% 4.51% 1.61%

Profitability

Metric ADTN HLIT Communication Equipment median
Gross margin 38.46% 50.01% 39.47%
Operating margin (0.18%) 11.69% 2.39%
Net margin (2.29%) (10.62%) (0.74%)
Free cash flow margin 2.03% 12.14% 1.39%
Return on equity (17.44%) (11.69%) (1.91%)
Return on assets (2.20%) (6.66%) (0.20%)
Return on invested capital (0.55%) 13.56% 0.72%

Growth

Metric ADTN HLIT Communication Equipment median
Revenue growth (TTM) 15.75% 11.19% 11.48%
EPS growth (last fiscal year) 90.83% (215.15%) —
Revenue growth, 5-year CAGR 16.43% (0.99%) 4.92%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric ADTN HLIT Communication Equipment median
Debt to equity 1.69 0.31 0.06
Current ratio 1.79 3.05 2.01
Net debt to EBITDA 1.11 (0.15) 0.67

Dividend

Metric ADTN HLIT Communication Equipment median
Dividend yield 2.81% — 2.63%
Payout ratio 9.00 0.00 0.00

Size

Metric ADTN HLIT Communication Equipment median
Market cap 563.45m 1.21b 563.45m

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