ADTRAN Holdings, Inc. ADTN R2K

Technology · Communication Equipment · United States

https://www.adtran.com

ADTRAN Holdings, Inc. provides networking and communications platforms, software, systems, and services in the United States, Germany, the United Kingdom, and internationally. It operates through two segments, Network Solutions, and Services & Support. It offers residential gateways; ethernet passive optical network ONUs; gigabit passive optical network/XGS-PON ONTs; routers, and switches; edge cloud; carrier ethernet network interface devices; Optical Line Terminals; Packet Aggregation, Copper Access, and Oscilloquartz; optical transport and engine solutions; infrastructure monitoring solution; and training, professional, software, and managed services. The company provides various software, such as Mosaic One SaaS, n-Command, Procloud, MCP, AOE, and ACI-E. It serves large, medium, and small service providers; alternative service providers, such as utilities, municipalities and fiber overbuilders; cable/MSOs; and SMBs and distributed enterprises. ADTRAN Holdings, Inc. was incorporated in 1985 and is headquartered in Huntsville, Alabama.

Market & Price

Market Cap

$1.34B

Current Price

$16.55

High / Low (52W)

$19.40 / $7.25

Beta

1.47

Valuation

Stock P/E

Industry PE

32.74

Forward P/E

21.78

PEG Ratio

1.86

Book Value

$1.71

Price to Book

9.70

P/S

1.19

EV/EBITDA

20.38

Dividend Yield

Profitability & Returns

ROCE

-1.41%

ROE

-4.94%

ROA

-0.24%

Profit Margin

-3.18%

Op Margin

2.28%

EPS (Latest Qtr)

$-0.01

EPS (TTM)

$-0.39

Balance Sheet & Liquidity

Debt/Equity

0.48

Quick Ratio

0.88

Current Ratio

1.77

Debt

$243.36M

Total Assets

$1.20B

Current Assets

$635.22M

Working Capital

$273.36M

Ownership

Promoter Holding

2.20%

Chg in Prom Hold

FII / Inst Holding

105.46%

Chg in FII Hold

Financial Snapshot

Enterprise Value

$1.86B

Total Revenue (TTM)

$1.12B

EBITDA

$91.28M

Free Cash Flow

$45.97M

Operating Cash Flow

$99.26M

Shares Outstanding

81.00M

Gross Margin

38.57%

Payout Ratio

0.00%

Growth (CAGR)

Revenue 5Y

1.86%

Profit 5Y

-713.78%

Revenue (YoY)

15.50%

Earnings (YoY)

PROS

Generates positive free cash flow.
In a confirmed uptrend (50-DMA above 200-DMA).

CONS

Earnings shrank at -713.8% CAGR over 5 years.

* The pros and cons are auto-generated from financial metrics.

Price Chart

Robinhood TradingView StockAnalysis

Fundamental Growth

Period: Metric:

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Technology).

#	Name	CMP $	P/E	Mkt Cap	Div Yld %	ROCE %	ROE %	Rev CAGR 5Y %	Profit CAGR 5Y %
1	ADTN ADTRAN Holdings, Inc. R2K	16.55	-	$1.34B	-	-1.41%	-4.94%	1.86%	-713.78%
2	NVDA NVIDIA Corporation NDXSPXAI	211.14	32.38	$5.11T	0.47%	81.14%	114.29%	100.05%	201.80%
3	AAPL Apple Inc. NDXSPX	312.06	37.73	$4.58T	0.35%	68.72%	141.47%	1.81%	3.92%
4	MSFT Microsoft Corporation NDXSPXAI	450.24	26.82	$3.34T	0.81%	26.37%	34.01%	12.42%	11.87%
5	TSM Taiwan Semiconductor Manufacturing Company Limited AI	418.45	35.86	$2.17T	0.91%	32.04%	36.21%	18.94%	19.57%
6	MU Micron Technology, Inc. NDXSPXAI	971.00	45.87	$1.10T	0.06%	14.20%	39.82%	6.71%	-0.57%
7	AMD Advanced Micro Devices, Inc. NDXSPXAI	516.10	172.61	$841.55B	-	6.33%	8.06%	13.64%	48.64%
8	ORCL Oracle Corporation SPXAI	225.78	40.46	$649.35B	0.89%	13.07%	57.57%	10.59%	22.81%
9	ASML ASML Holding N.V. NDXAI	1,612.76	53.76	$621.59B	0.54%	43.81%	52.24%	15.55%	19.55%

Quarterly Results

Figures in USD.

Metric	Dec 2015	Mar 2016	Jun 2016	Sep 2016	Dec 2016	Mar 2017	Jun 2017	Sep 2017	Dec 2017	Mar 2018	Jun 2018	Sep 2018	Dec 2018	Mar 2019	Jun 2019	Sep 2019	Dec 2019	Mar 2020	Jun 2020	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Mar 2023	Jun 2023	Sep 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Revenue	-	-	-	-	-	170.28M	184.67M	185.11M	126.84M	120.81M	128.05M	140.34M	140.09M	143.79M	156.39M	114.09M	115.79M	114.52M	128.72M	133.14M	130.13M	127.53M	143.23M	138.08M	154.16M	154.52M	172.04M	340.71M	323.91M	327.38M	272.33M	226.17M	225.99M	227.70M	-	247.74M	265.07M	279.44M	291.56M	286.09M
Cost of Revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	152.57M	166.14M	172.31M	177.83M	173.10M
Gross Profit	62.44M	65.79M	78.95M	75.81M	70.79M	73.71M	84.63M	86.49M	58.81M	39.73M	50.00M	58.45M	55.39M	60.61M	65.02M	46.33M	47.21M	51.60M	53.47M	58.96M	53.52M	53.60M	62.67M	47.67M	54.44M	54.32M	62.51M	103.03M	87.81M	92.55M	74.24M	70.31M	81.26M	83.03M	-	95.18M	98.92M	107.13M	113.73M	112.99M
Operating Expenses	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	99.14M	112.24M	109.91M	109.25M	106.61M
Operating Income	2.80M	5.52M	14.81M	10.13M	4.27M	6.95M	16.36M	18.23M	-4.15M	-26.65M	-12.81M	-2.18M	-3.78M	-6.17M	562.00K	-20.29M	-14.07M	-4.94M	-6.04M	4.53M	-3.32M	-1.33M	3.93M	-10.06M	-7.24M	-68.00K	8.13M	-48.02M	-49.73M	-44.63M	-89.30M	-346.24M	-38.46M	-26.09M	-	-3.97M	-13.32M	-2.79M	4.48M	6.38M
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	17.01M	10.72M	22.27M	30.64M	32.00M
Interest Expense	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4.76M	4.56M	5.50M	4.52M	4.24M
Pretax Income	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-9.35M	-17.24M	-6.55M	1.89M	2.85M
Tax Provision	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-397.00K	1.02M	1.20M	3.17M	1.92M
Net Income	5.72M	5.01M	10.23M	12.41M	7.57M	6.65M	12.40M	15.90M	-11.11M	-10.81M	-7.67M	7.59M	-8.45M	770.00K	4.00M	-46.12M	-11.62M	-9.97M	752.00K	5.48M	6.11M	896.00K	5.09M	-10.43M	-4.19M	-1.13M	2.14M	-41.93M	-39.74M	-38.75M	-78.21M	-330.76M	-49.67M	-33.35M	-	-11.27M	-20.53M	-10.26M	-3.60M	-1.32M
Diluted EPS	0.12	0.10	0.21	0.26	0.16	0.14	0.26	0.33	-0.23	-0.22	-0.16	0.16	-0.18	0.02	0.08	-0.96	-0.25	-0.21	0.02	0.11	0.13	0.02	0.10	-0.21	-0.09	-0.02	0.04	-0.57	-0.51	-0.50	-1.00	-0.01	-0.63	-0.38	-	-0.14	-0.24	-0.12	-0.02	-0.01
R&D Expense	-	29.49M	31.28M	31.96M	-	31.97M	33.56M	33.59M	-	32.85M	30.73M	29.88M	-	31.65M	32.06M	31.84M	-	29.86M	28.71M	27.22M	-	27.50M	27.87M	26.76M	-	26.49M	26.50M	59.20M	70.14M	70.60M	62.75M	60.22M	60.35M	51.58M	-	48.86M	51.90M	51.68M	-	50.78M

Profit & Loss (Annual)

Figures in USD.

Metric	Dec 2008	Dec 2009	Dec 2010	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Revenue	-	-	-	-	-	-	-	-	636.78M	666.90M	529.28M	530.06M	506.51M	-	1.03B	1.15B	922.72M	1.08B
Cost of Revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	-	698.28M	817.97M	598.56M	668.85M
Gross Profit	298.90M	286.96M	358.86M	414.32M	316.64M	308.89M	311.33M	266.90M	291.33M	303.63M	203.56M	219.17M	217.55M	-	327.25M	331.13M	324.16M	414.95M
Operating Expenses	-	-	-	-	-	-	-	-	-	-	-	-	-	-	382.65M	516.92M	454.38M	430.55M
Operating Income	113.80M	104.23M	153.86M	189.14M	56.17M	48.47M	47.11M	13.48M	34.57M	37.39M	-45.42M	-39.96M	-9.77M	-	-55.39M	-185.79M	-130.21M	-15.60M
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	27.00K	-104.36M	-330.14M	80.64M
Interest Expense	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3.44M	16.30M	22.05M	19.34M
Pretax Income	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-70.96M	-233.61M	-442.73M	-31.25M
Tax Provision	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-62.08M	28.30M	7.34M	4.99M
Net Income	78.58M	74.22M	113.99M	138.58M	47.26M	45.79M	44.62M	18.65M	35.23M	23.84M	-19.34M	-52.98M	2.38M	-	-2.04M	-268.85M	-459.89M	-45.66M
Diluted EPS	1.22	1.17	1.78	2.12	0.74	0.77	0.80	0.36	0.72	0.49	-0.40	-1.11	0.05	-	-0.03	-3.41	-5.67	-0.52
R&D Expense	81.82M	83.28M	90.30M	100.30M	125.95M	131.06M	132.26M	129.88M	124.91M	130.67M	124.55M	126.20M	113.29M	108.66M	173.76M	258.31M	221.46M	204.28M

Compounded Sales Growth

5 Years:	1.86%
1 Year:	15.50%

Compounded Profit Growth

5 Years:	-713.78%
1 Year:	-

Stock Price Performance

1 Year:	+106.10%
6 Months:	+114.94%
3 Months:	+62.25%
1 Month:	-1.43%

Balance Sheet (Annual)

Figures in USD.

Metric	Jan 1995	Dec 2007	Dec 2008	Dec 2009	Dec 2010	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Assets	-	-	-	564.46M	691.97M	817.51M	883.66M	789.90M	738.69M	632.90M	667.24M	669.09M	628.03M	545.12M	525.68M	-	1.94B	1.68B	1.17B	1.20B
Current Assets	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	882.36M	718.97M	599.14M	635.22M
Cash & Equivalents	-	13.94M	41.91M	24.14M	31.68M	42.98M	68.46M	58.30M	73.44M	84.55M	79.89M	86.43M	105.50M	73.77M	60.16M	-	108.64M	87.17M	76.02M	95.70M
Inventory	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	427.53M	360.42M	261.56M	215.74M
Receivables	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	279.44M	209.74M	178.03M	210.69M
Total Liabilities	-	-	-	111.95M	119.65M	125.38M	191.25M	185.29M	189.68M	152.74M	187.72M	171.18M	181.75M	164.69M	152.74M	-	639.88M	628.86M	621.52M	685.34M
Current Liabilities	-	-	-	47.77M	49.96M	61.93M	105.47M	102.31M	119.01M	92.64M	126.53M	106.82M	118.01M	112.71M	94.19M	-	428.57M	274.00M	293.47M	361.86M
Long Term Debt	20.00M	-	-	47.75M	47.50M	46.50M	46.00M	46.20M	28.80M	27.90M	26.80M	25.60M	24.60M	-	-	-	60.00M	195.00M	189.58M	218.04M
Total Debt	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	143.34M	226.42M	215.50M	245.04M
Total Equity	-	378.43M	375.82M	452.51M	572.32M	692.13M	692.41M	604.61M	549.01M	480.16M	479.52M	497.91M	446.28M	380.43M	372.94M	-	973.95M	605.26M	126.95M	145.83M
Shares Outstanding	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	78.09M	78.97M	79.48M	80.19M

Cash Flows (Annual)

Figures in USD.

Metric	Dec 2008	Dec 2009	Dec 2010	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Operating Cash Flow	115.81M	90.16M	92.79M	150.47M	85.87M	59.76M	-	-	42.00M	-42.38M	55.45M	-2.47M	-16.52M	-	-44.23M	-43.02M	103.57M	129.77M
Investing Cash Flow	-3.60M	-85.98M	-74.92M	-122.83M	-5.26M	73.77M	-	-	-6.48M	66.04M	285.00K	-9.79M	41.40M	-	55.83M	-34.86M	-64.25M	-69.17M
Financing Cash Flow	-82.43M	-24.41M	-11.72M	-16.19M	-55.17M	-141.89M	-	-	-39.78M	-22.40M	-32.42M	-17.87M	-42.98M	-	52.94M	58.87M	-50.01M	-46.68M
Capital Expenditure	-9.49M	-8.74M	-9.87M	-11.78M	-12.32M	-8.17M	-11.26M	-11.75M	-21.44M	-14.72M	-8.11M	-9.49M	-6.41M	-	-17.07M	-45.77M	-65.17M	-69.27M
Free Cash Flow	106.32M	81.42M	82.92M	138.69M	73.55M	51.59M	-	-	20.56M	-57.10M	47.34M	-11.97M	-22.93M	-	-61.30M	-88.79M	38.40M	60.50M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-	-	-	-	-	64.54M	-19.01M	-10.70M	13.92M
Share Buybacks	63.57M	15.90M	18.32M	35.56M	39.36M	124.27M	80.58M	66.16M	25.82M	17.35M	15.53M	184.00K	-	-	-	-	-	-
Dividends Paid	-	22.50M	22.50M	23.10M	22.80M	21.40M	19.90M	18.40M	17.60M	17.40M	17.30M	-	-	-	-	-	-	-

Ratios (Annual)

Figures in %.

Metric	Dec 2008	Dec 2009	Dec 2010	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Gross Margin %	-	-	-	-	-	-	-	-	45.8%	45.5%	38.5%	41.3%	43.0%	-	31.9%	28.8%	35.1%	38.3%
Operating Margin %	-	-	-	-	-	-	-	-	5.4%	5.6%	-8.6%	-7.5%	-1.9%	-	-5.4%	-16.2%	-14.1%	-1.4%
Net Margin %	-	-	-	-	-	-	-	-	5.5%	3.6%	-3.7%	-10.0%	0.5%	-	-0.2%	-23.4%	-49.8%	-4.2%
ROE %	20.9%	16.4%	19.9%	20.0%	6.8%	7.6%	8.1%	3.9%	7.3%	4.8%	-4.3%	-13.9%	0.6%	-	-0.2%	-44.4%	-362.3%	-31.3%
ROCE %	-	20.2%	24.0%	25.0%	7.2%	7.0%	7.6%	2.5%	6.4%	6.6%	-8.9%	-9.2%	-2.3%	-	-3.7%	-13.2%	-14.8%	-1.9%

Shareholding Pattern

Insiders

2.20%

Institutions

105.46%

Public Float

107.84%

Top Institutional Holders

#	Holder	% Held	Shares	Value
1	Blackrock Inc.	9.68%	7.84M	$129.76M
2	Vanguard Portfolio Management LLC	5.89%	4.77M	$78.97M
3	Vanguard Capital Management LLC	4.23%	3.43M	$56.70M
4	Royce & Associates LP	3.86%	3.13M	$51.76M
5	DnB Asset Management AS	3.86%	3.12M	$51.70M
6	State Street Corporation	2.90%	2.35M	$38.90M
7	William Blair Investment Management, LLC	2.46%	1.99M	$32.93M
8	Millennium Management Llc	2.34%	1.90M	$31.39M
9	Morgan Stanley	2.26%	1.83M	$30.33M
10	Geode Capital Management, LLC	2.25%	1.82M	$30.11M

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