NASDAQ : ADTN
ADTRAN Holdings, Inc. — Financial statements
Technology · Communication Equipment · United States
Last price 6.53 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 530.39M
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
ADTRAN Holdings, Inc. (ADTN) reported revenue of 1.14B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 1.14B | 1.08B | 922.72M | 1.15B | 1.03B | 563.00M |
| Cost of Revenue | 700.43M | 668.85M | 583.98M | 790.75M | 698.28M | 344.61M |
| Gross Profit | 437.79M | 414.95M | 338.74M | 358.35M | 327.26M | 218.39M |
| Selling, General & Admin | 230.80M | 225.42M | 223.60M | 248.12M | 209.11M | 112.95M |
| Research & Development | 208.31M | 204.51M | 200.07M | 249.59M | 171.31M | 107.42M |
| Operating Expenses | 439.11M | 429.93M | 423.68M | 497.72M | 380.42M | 220.37M |
| Operating Income | -1.31M | -14.97M | -84.93M | -139.37M | -53.16M | -1.97M |
| Interest Expense | -18.49M | -19.34M | -22.05M | -16.30M | -3.44M | -34.00K |
| Interest & Investment Income | 2.69M | 2.32M | 3.06M | 2.34M | 2.12M | 2.84M |
| Currency Exchange Gain (Loss) | 10.79M | |||||
| Other Non Operating Income (Expenses) | 1.06M | -2.54M | -353.00K | 1.39M | 4.31M | 3.33M |
| EBT Excluding Unusual Items | -16.05M | -34.53M | -104.28M | -151.93M | -39.37M | 4.16M |
| Merger & Restructuring Charges | 284.00K | 284.00K | -44.68M | -46.55M | -1.63M | -12.31M |
| Impairment of Goodwill | -297.35M | -37.87M | ||||
| Gain (Loss) on Sale of Investments | 6.04M | 3.00M | 3.59M | 2.75M | -12.53M | 1.84M |
| Asset Writedown | -17.43M | |||||
| Pretax Income | -9.73M | -31.25M | -442.73M | -233.61M | -70.96M | -6.30M |
| Income Tax Expense | 7.08M | 4.99M | 7.34M | 28.30M | -62.08M | 2.33M |
| Earnings From Continuing Operations | -16.81M | -36.24M | -450.07M | -261.91M | -8.89M | -8.63M |
| Minority Interest in Earnings | -9.27M | -9.41M | -9.82M | -6.95M | 6.85M | |
| Net Income | -26.08M | -45.66M | -459.89M | -268.85M | -2.04M | -8.63M |
| Preferred Dividends & Other Adjustments | -3.48M | -4.08M | -2.98M | |||
| Net Income to Common | -22.61M | -41.57M | -456.91M | -268.85M | -2.04M | -8.63M |
| Shares Outstanding (Basic) | 80.24M | 79.74M | 78.93M | 78.42M | 62.35M | 48.58M |
| Shares Outstanding (Diluted) | 80.24M | 79.74M | 78.93M | 78.42M | 62.35M | 48.58M |
| EPS (Basic) | -0.28 | -0.52 | -5.79 | -3.43 | -0.03 | -0.18 |
| EPS (Diluted) | -0.28 | -0.52 | -5.79 | -3.43 | -0.03 | -0.18 |
| Free Cash Flow | 56.92M | 98.03M | 69.07M | -79.35M | -61.30M | -2.66M |
| Free Cash Flow Per Share | 0.71 | 1.23 | 0.88 | -1.01 | -0.98 | -0.06 |
| Dividend Per Share | 0.18 | 0.36 | 0.36 | |||
| Gross Margin | 38.46% | 38.29% | 36.71% | 31.19% | 31.91% | 38.79% |
| Operating Margin | -0.11% | -1.38% | -9.21% | -12.13% | -5.18% | -0.35% |
| Profit Margin | -1.99% | -3.84% | -49.52% | -23.40% | -0.20% | -1.53% |
| Free Cash Flow Margin | 5.00% | 9.04% | 7.49% | -6.91% | -5.98% | -0.47% |
| EBITDA | 96.72M | 77.57M | 5.60M | -26.42M | 14.39M | 14.11M |
| EBITDA Margin | 8.50% | 7.16% | 0.61% | -2.30% | 1.40% | 2.51% |
| D&A For EBITDA | 98.03M | 92.55M | 90.53M | 112.95M | 67.55M | 16.08M |
| EBIT | -1.31M | -14.97M | -84.93M | -139.37M | -53.16M | -1.97M |
| EBIT Margin | -0.11% | -1.38% | -9.21% | -12.13% | -5.18% | -0.35% |
| Revenue as Reported | 1.14B | 1.08B | 922.72M | 1.15B | 1.03B | 563.00M |
| Advertising Expenses | 200.00K | 100.00K | 200.00K |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 79.24M | 95.70M | 76.02M | 87.17M | 108.64M | 56.60M |
| Short-Term Investments | 340.00K | 350.00K | ||||
| Cash & Short-Term Investments | 79.24M | 95.70M | 76.02M | 87.17M | 108.98M | 56.95M |
| Accounts Receivable | 206.38M | 211.12M | 178.66M | 210.43M | 281.29M | 159.21M |
| Other Receivables | 11.98M | 10.28M | 14.61M | 12.83M | 18.99M | 10.76M |
| Receivables | 218.36M | 221.40M | 193.27M | 223.26M | 300.27M | 169.97M |
| Inventory | 208.78M | 215.74M | 261.56M | 360.42M | 427.53M | 139.89M |
| Prepaid Expenses | 60.43M | 53.32M | 54.20M | 38.89M | 32.08M | 8.60M |
| Restricted Cash | 215.00K | |||||
| Other Current Assets | 50.98M | 49.08M | 14.10M | 9.22M | 13.49M | 700.00K |
| Total Current Assets | 617.79M | 635.22M | 599.14M | 718.97M | 882.36M | 376.32M |
| Property, Plant & Equipment | 123.00M | 156.46M | 136.80M | 155.63M | 141.04M | 60.69M |
| Long-Term Investments | 1.02M | 1.02M | 1.07M | 900.00K | 9.77M | 43.72M |
| Goodwill | 58.34M | 59.98M | 52.92M | 358.15M | 381.72M | 6.97M |
| Other Intangible Assets | 269.49M | 294.05M | 284.89M | 337.42M | 401.21M | 19.29M |
| Long-Term Deferred Tax Assets | 16.22M | 16.48M | 17.83M | 29.29M | 67.84M | 9.08M |
| Long-Term Deferred Charges | 300.00K | 100.00K | ||||
| Other Long-Term Assets | 64.11M | 41.28M | 78.78M | 76.78M | 59.56M | 52.85M |
| Total Assets | 1.15B | 1.20B | 1.17B | 1.68B | 1.94B | 569.02M |
| Accounts Payable | 169.32M | 167.34M | 171.82M | 162.92M | 237.70M | 102.49M |
| Accrued Expenses | 50.31M | 58.80M | 59.86M | 49.24M | 65.32M | 21.44M |
| Short-Term Debt | 60.53M | |||||
| Current Portion of Leases | 7.09M | 7.15M | 7.72M | 7.60M | 1.73M | |
| Current Income Taxes Payable | 3.80M | 3.64M | 1.94M | 5.22M | 9.03M | 6.56M |
| Current Unearned Revenue | 78.71M | 87.54M | 52.70M | 42.50M | 41.19M | 17.74M |
| Other Current Liabilities | 42.65M | 37.45M | 6.40M | 7.20M | 5.40M | |
| Total Current Liabilities | 344.81M | 361.86M | 293.47M | 274.00M | 428.57M | 155.36M |
| Long-Term Debt | 218.82M | 218.04M | 189.58M | 195.00M | 60.00M | |
| Long-Term Leases | 23.84M | 27.00M | 25.93M | 31.42M | 22.81M | 3.27M |
| Long-Term Unearned Revenue | 24.96M | 27.14M | 22.07M | 22.63M | 19.24M | 9.27M |
| Pension & Post-Retirement Benefits | 6.36M | 6.28M | 8.98M | 12.54M | 10.62M | 11.40M |
| Long-Term Deferred Tax Liabilities | 26.49M | 27.45M | 30.37M | 35.57M | 61.63M | |
| Other Long-Term Liabilities | 16.03M | 17.56M | 51.13M | 57.70M | 37.01M | 32.61M |
| Total Liabilities | 661.30M | 685.34M | 621.52M | 628.86M | 639.88M | 211.91M |
| Common Stock | 815.00K | 802.00K | 795.00K | 790.00K | 781.00K | 797.00K |
| Additional Paid-In Capital | 805.88M | 801.27M | 808.91M | 794.47M | 895.83M | 288.95M |
| Retained Earnings | -736.38M | -730.01M | -688.81M | -231.71M | 55.34M | 740.82M |
| Treasury Stock | -5.01M | -5.11M | -5.20M | -5.83M | -4.12M | -661.55M |
| Comprehensive Income & Other | 64.19M | 78.88M | 11.25M | 47.53M | 26.13M | -11.91M |
| Total Common Equity | 129.50M | 145.83M | 126.95M | 605.26M | 973.95M | 357.10M |
| Minority Interest | 359.16M | 373.33M | 422.94M | 443.33M | 329.66M | |
| Shareholders' Equity | 488.66M | 519.16M | 549.89M | 1.05B | 1.30B | 357.10M |
| Total Liabilities & Equity | 1.15B | 1.20B | 1.17B | 1.68B | 1.94B | 569.02M |
| Total Debt | 242.66M | 252.13M | 222.66M | 234.14M | 150.94M | 5.00M |
| Net Cash (Debt) | -162.41M | -155.41M | -145.57M | -146.07M | -41.15M | 64.55M |
| Net Cash Per Share | -2.02 | -1.95 | -1.84 | -1.86 | -0.66 | 1.33 |
| Filing Date Shares Outstanding | 81.22M | 80.66M | 79.86M | 79.12M | 78.63M | 49.12M |
| Total Common Shares Outstanding | 81.19M | 79.93M | 79.22M | 78.67M | 77.89M | 49.06M |
| Working Capital | 272.98M | 273.36M | 305.67M | 444.97M | 453.78M | 220.97M |
| Book Value Per Share | 1.59 | 1.82 | 1.60 | 7.69 | 12.50 | 7.28 |
| Tangible Book Value | -198.33M | -208.20M | -210.86M | -90.32M | 191.02M | 330.84M |
| Tangible Book Value Per Share | -2.44 | -2.60 | -2.66 | -1.15 | 2.45 | 6.74 |
| Land | 3.05M | 3.07M | 2.99M | 5.24M | 5.36M | 4.58M |
| Buildings | 95.45M | 95.86M | 90.85M | 137.45M | 130.79M | 103.73M |
| Machinery | 270.51M | 260.65M | 318.93M | 301.03M | 273.64M | 226.96M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -26.08M | -45.66M | -459.89M | -268.85M | -2.04M | -8.63M |
| Depreciation & Amortization | 98.03M | 92.55M | 90.53M | 112.95M | 67.55M | 16.08M |
| Other Amortization | 2.68M | 1.79M | 3.95M | 862.00K | 288.00K | |
| Loss (Gain) From Sale of Assets | 286.00K | 228.00K | 1.37M | 458.00K | 152.00K | 4.00K |
| Asset Writedown & Restructuring Costs | 297.35M | 37.87M | 17.43M | |||
| Loss (Gain) From Sale of Investments | -7.76M | -4.74M | -5.03M | -2.92M | 9.85M | -5.02M |
| Stock-Based Compensation | 8.84M | 10.06M | 15.99M | 16.38M | 28.32M | 7.48M |
| Other Operating Activities | -7.62M | 3.02M | 24.85M | 69.59M | -71.60M | -6.81M |
| Change in Accounts Receivable | -42.30M | -18.30M | 46.11M | 72.32M | 788.00K | -60.86M |
| Change in Inventory | 38.32M | 64.49M | 79.98M | 22.41M | -73.24M | -10.64M |
| Change in Accounts Payable | 35.16M | 17.98M | 10.24M | -91.91M | 28.11M | 53.27M |
| Change in Income Taxes | 5.54M | 1.31M | -4.02M | -1.84M | -2.15M | 5.47M |
| Change in Other Net Operating Assets | -12.10M | 7.02M | 2.14M | -10.33M | -47.69M | 12.67M |
| Operating Cash Flow | 93.01M | 129.77M | 103.57M | -43.02M | -44.23M | 3.01M |
| Capital Expenditures | -36.09M | -31.74M | -34.50M | -36.34M | -17.07M | -5.67M |
| Sale of Property, Plant & Equipment | 12.00K | |||||
| Cash Acquisitions | 44.00M | |||||
| Sale (Purchase) of Intangibles | -33.82M | -37.53M | -30.67M | -9.44M | ||
| Investment in Securities | 823.00K | 636.00K | 972.00K | 9.70M | 27.76M | 15.44M |
| Other Investing Activities | 500.00K | |||||
| Investing Cash Flow | -70.06M | -69.17M | -64.25M | -34.86M | 55.83M | 10.27M |
| Long-Term Debt Issued | 250.25M | 26.00M | 163.73M | 141.89M | 10.00M | |
| Short-Term Debt Repaid | -24.89M | -17.70M | ||||
| Long-Term Debt Repaid | -231.65M | -31.00M | -64.99M | -48.00M | -10.00M | |
| Total Debt Repaid | -207.65M | -231.65M | -31.00M | -89.88M | -65.70M | -10.00M |
| Net Debt Issued (Repaid) | 18.60M | 18.60M | -5.00M | 73.86M | 76.19M | |
| Issuance of Common Stock | 7.28M | 1.83M | 824.00K | 540.00K | 6.90M | 6.43M |
| Repurchase of Common Stock | -1.86M | -1.48M | -1.14M | -6.46M | -4.25M | -1.86M |
| Common Dividends Paid | -21.24M | -22.89M | -17.53M | |||
| Other Financing Activities | -70.25M | -65.63M | -44.69M | 12.17M | -3.02M | |
| Financing Cash Flow | -46.23M | -46.68M | -50.01M | 58.87M | 52.94M | -12.96M |
| Foreign Exchange Rate Adjustments | -3.75M | 5.76M | -451.00K | -2.47M | -12.71M | -3.68M |
| Net Cash Flow | -27.04M | 19.68M | -11.15M | -21.48M | 51.83M | -3.36M |
| Free Cash Flow | 56.92M | 98.03M | 69.07M | -79.35M | -61.30M | -2.66M |
| Free Cash Flow Margin | 5.00% | 9.04% | 7.49% | -6.91% | -5.98% | -0.47% |
| Free Cash Flow Per Share | 0.71 | 1.23 | 0.88 | -1.01 | -0.98 | -0.06 |
| Levered Free Cash Flow | 24.82M | 65.73M | 107.15M | 34.53M | -203.47M | 12.64M |
| Unlevered Free Cash Flow | 33.69M | 76.02M | 116.98M | 43.86M | -201.61M | 12.66M |
| Cash Interest Paid | 10.24M | 13.27M | 20.88M | 12.60M | 1.73M | 13.00K |
| Cash Income Tax Paid | 3.86M | 5.44M | 6.70M | 18.60M | 3.83M | 1.78M |
| Change in Working Capital | 24.63M | 72.51M | 134.45M | -9.35M | -94.18M | -93.00K |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 530.39M | 693.93M | 660.62M | 577.65M | 1.46B | 1.12B |
| Enterprise Value | 692.80M | 1.25B | 1.21B | 1.13B | 1.80B | 1.03B |
| Last Close Price | 6.53 | 8.69 | 8.33 | 7.34 | 18.29 | 21.85 |
| Forward PE | 18.10 | 20.91 | 133.28 | 35.74 | 18.76 | 54.58 |
| PS Ratio | 0.47 | 0.64 | 0.72 | 0.50 | 1.43 | 1.99 |
| PB Ratio | 4.09 | 1.34 | 1.20 | 0.55 | 1.12 | 3.14 |
| P/TBV Ratio | 7.66 | 3.39 | ||||
| P/FCF Ratio | 9.32 | 7.08 | 9.56 | |||
| P/OCF Ratio | 5.70 | 5.35 | 6.38 | 372.65 | ||
| EV/Sales Ratio | 0.61 | 1.15 | 1.31 | 0.98 | 1.75 | 1.83 |
| EV/EBITDA Ratio | 7.16 | 16.05 | 215.94 | 125.07 | 73.05 | |
| EV/FCF Ratio | 12.17 | 12.70 | 17.50 | |||
| Debt / Equity Ratio | 0.50 | 0.49 | 0.41 | 0.22 | 0.12 | 0.01 |
| Debt / EBITDA Ratio | 2.28 | 2.89 | 14.49 | 7.78 | 0.31 | |
| Debt / FCF Ratio | 4.26 | 2.57 | 3.22 | |||
| Net Debt / Equity Ratio | 0.33 | 0.30 | 0.27 | 0.14 | 0.03 | -0.18 |
| Net Debt / EBITDA Ratio | 1.68 | 2.00 | 26.01 | -5.53 | 2.86 | -4.58 |
| Net Debt / FCF Ratio | 2.85 | 1.58 | 2.11 | -1.84 | -0.67 | 24.26 |
| Asset Turnover | 0.96 | 0.91 | 0.65 | 0.64 | 0.82 | 1.03 |
| Inventory Turnover | 3.12 | 2.80 | 1.88 | 2.01 | 2.46 | 2.60 |
| Quick Ratio | 0.86 | 0.88 | 0.92 | 1.13 | 0.95 | 1.46 |
| Current Ratio | 1.79 | 1.75 | 2.04 | 2.62 | 2.06 | 2.42 |
| Return on Equity (ROE) | -3.17% | -6.78% | -56.31% | -22.27% | -1.07% | -2.37% |
| Return on Assets (ROA) | -0.07% | -0.79% | -3.73% | -4.81% | -2.65% | -0.22% |
| Return on Invested Capital (ROIC) | -0.20% | -2.18% | -8.98% | -10.97% | -6.44% | -0.64% |
| Return on Capital Employed (ROCE) | -0.20% | -1.80% | -9.70% | -9.90% | -3.50% | -0.50% |
| Earnings Yield | -4.31% | -6.58% | -69.62% | -46.54% | -0.14% | -0.77% |
| FCF Yield | 10.73% | 14.13% | 10.46% | -13.74% | -4.19% | -0.24% |
| Dividend Yield | 2.45% | 1.92% | 1.58% | |||
| Buyback Yield / Dilution | -1.12% | -1.03% | -0.65% | -25.78% | -28.33% | -0.61% |
| Total Shareholder Return | -1.12% | -1.03% | -0.65% | -23.32% | -26.41% | 0.97% |