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ADTRAN Holdings, Inc.

ADTN Nasdaq Telephone & Telegraph Apparatus Financials FY2016โ€“FY2025

Last close ยท Oct 23, 2026

$6.43

0.3%
Compare
Revenue Total sales reported in the income statement.
$1.1B
17.5% vs prior year
Operating margin Operating income as a share of revenue.
โˆ’1.4%
44.9ย pts
Net income Profit after all expenses, interest and tax.
โˆ’$45.7M
Free cash flow Cash from operations minus capital spending.
$98.0M
41.9%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
โ€”
Market cap Last close times the latest diluted share count, so it is approximate.
$520M
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
โ€”
On โˆ’$0.28 EPS (TTM)

What ADTRAN Holdings, Inc. does

No business description yet.

Legal name
ADTRAN Holdings, Inc.
Fiscal year ends
December 31, 2025
Latest annual report
10-K ยท Feb 26, 2026
Accession ยท CIK
0001193125-26-073878
0000926282

Revenue and margins

ADTRAN Holdings, Inc. had $1.1B of revenue in fiscal 2025, up 17.5% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $98.0M in fiscal 2025, 9.0% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

ADTRAN Holdings, Inc. returned โ€” to shareholders in fiscal 2025. The diluted share count rose 1.0%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Balance sheet

Cash, debt and the ratios that show how comfortably ADTRAN Holdings, Inc. can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $57.0M$109M$87.2M$76.0M$95.7M
Interest coverage โˆ’432.4xโˆ’21.2xโˆ’13.7xโˆ’19.4xโˆ’0.8x
Current ratio 2.4x2.1x2.6x2.0x1.8x
Quick ratio 1.5x1.1x1.3x1.2x1.2x
Total assets $569M$1.9B$1.7B$1.2B$1.2B
Total liabilities $212M$640M$629M$622M$685M
Shareholders' equity $357M$1.3B$605M$127M$146M
Net debt (โˆ’ = net cash) โ€”โ€”โ€”โ€”โ€”

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. โ€œPlanโ€ marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$0.0M

0 insiders

Of sales under plans

โ€”

$0.0M

No open-market insider trades in the last 12 months.

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8โ€“9 is strong, 0โ€“2 weak.

TestFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Net income is positive โœ“ โœ“ โœ• โœ• โœ“ โœ• โœ• โœ• โœ• โœ•
Cash from operations is positive โœ“ โœ• โœ“ โœ• โœ• โœ“ โœ• โœ• โœ“ โœ“
Return on assets rose โ€” โœ• โœ• โœ• โœ“ โœ• โœ“ โœ• โœ• โœ“
Cash from operations exceeds net income โœ“ โœ• โœ“ โœ“ โœ• โœ“ โœ• โœ“ โœ“ โœ“
Debt fell relative to assets โ€” โœ“ โœ• โœ• โ€” โ€” โ€” โ€” โ€” โ€”
Current ratio rose โ€” โœ“ โœ• โœ• โœ“ โœ• โœ• โœ“ โœ• โœ•
Share count didn't rise โ€” โœ“ โœ“ โœ“ โœ• โœ• โœ• โœ• โœ• โœ•
Gross margin rose โ€” โœ• โœ• โœ“ โœ“ โœ• โœ• โœ• โœ“ โœ“
Revenue rose relative to assets โ€” โœ“ โœ• โœ“ โœ• โœ“ โœ• โœ“ โœ“ โœ“
F-score โ€” / 35 / 93 / 94 / 94 / 83 / 81 / 83 / 84 / 85 / 8
Accruals ratio โˆ’1.0%9.9%โˆ’11.5%โˆ’8.6%3.5%โˆ’2.1%3.4%โˆ’12.5%โˆ’39.6%โˆ’14.8%
Altman Z'' 9.7610.939.169.2610.078.393.511.40โˆ’2.44โˆ’0.35

10 years of figures

Amounts in USD. Hover a ratioโ€™s name for its definition.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $637M $667M $529M $530M $507M $563M $1.0B $1.1B $923M $1.1B
Gross profit $291M $304M $204M $219M $218M $218M $327M $331M $324M $415M
Research and development $125M $131M $125M $126M $113M $109M $174M $258M $221M $204M
Operating income $34.6M $37.4M โˆ’$45.4M โˆ’$40.0M โˆ’$9.8M โˆ’$14.7M โˆ’$72.8M โˆ’$224M โˆ’$428M โˆ’$15.6M
Interest expense $0.6M $0.6M $0.5M $0.5M $0.0M $0.0M $3.4M $16.3M $22.1M $19.3M
Pretax income $46.9M $44.7M โˆ’$33.4M โˆ’$24.8M โˆ’$6.2M โˆ’$6.3M โˆ’$71.0M โˆ’$234M โˆ’$443M โˆ’$31.3M
Income tax $11.7M $20.8M โˆ’$14.0M $28.2M โˆ’$8.6M $2.3M โˆ’$62.1M $28.3M $7.3M $5.0M
Net income $35.2M $23.8M โˆ’$19.3M โˆ’$53.0M $2.4M โˆ’$8.6M โˆ’$2.0M โˆ’$269M โˆ’$460M โˆ’$45.7M
Net income to common โ€” โ€” โ€” โ€” โ€” โ€” โˆ’$2.0M โˆ’$269M โˆ’$457M โˆ’$41.6M
Diluted EPS $0.72 $0.49 โˆ’$0.40 โˆ’$1.11 $0.05 โˆ’$0.18 โˆ’$0.03 โˆ’$3.43 โˆ’$5.79 โˆ’$0.52
Diluted shares 0.05B 0.05B 0.05B 0.05B 0.05B 0.05B 0.06B 0.08B 0.08B 0.08B
Cash flow
Cash from operations $42.0M โˆ’$42.4M $55.5M โˆ’$2.5M โˆ’$16.5M $3.0M โˆ’$44.2M โˆ’$43.0M $104M $130M
Capital expenditure $21.4M $14.7M $8.1M $9.5M $6.4M $5.7M $17.1M $36.3M $34.5M $31.7M
Free cash flow $20.6M โˆ’$57.1M $47.3M โˆ’$12.0M โˆ’$22.9M โˆ’$2.7M โˆ’$61.3M โˆ’$79.4M $69.1M $98.0M
Depreciation and amortization $14.4M $15.7M $15.9M $17.8M $16.6M $16.1M $67.6M $113M $90.5M $92.5M
Stock-based compensation $6.7M $7.4M $7.2M $7.0M $6.8M $7.5M $28.3M $16.4M $16.0M $10.1M
Share buybacks $25.8M $17.3M $15.5M $0.2M โ€” โ€” โ€” โ€” โ€” โ€”
Dividends paid $17.6M $17.4M $17.3M $17.2M $17.3M $17.5M $22.9M $21.2M $0.0M โ€”
Dividends and buybacks $43.4M $34.7M $32.8M $17.4M $17.3M $17.5M $22.9M $21.2M $0.0M โ€”
Balance sheet
Cash and short-term investments $123M $103M $109M $107M $63.3M $57.0M $109M $87.2M $76.0M $95.7M
Total debt $28.8M $27.8M $26.6M $24.6M โ€” โ€” โ€” โ€” โ€” โ€”
Current assets $353M $413M $355M $320M $317M $376M $882M $719M $599M $635M
Current liabilities $127M $107M $118M $113M $94.2M $155M $429M $274M $293M $362M
Inventory $105M $123M $99.8M $98.3M $125M $140M $428M $360M $262M $216M
Property and equipment, net $84.5M $85.1M $80.6M $68.1M $62.4M $55.8M $111M $118M $106M $124M
Goodwill $3.5M $3.5M $7.1M $7.0M $7.0M $7.0M $386M $358M $52.9M $60.0M
Intangible assets $7.3M $4.7M $33.2M $27.8M $23.5M $19.3M $401M $337M $285M $294M
Total assets $667M $669M $628M $545M $526M $569M $1.9B $1.7B $1.2B $1.2B
Total liabilities $188M $171M $182M $165M $153M $212M $640M $629M $622M $685M
Shareholders' equity $480M $498M $446M $380M $373M $357M $1.3B $605M $127M $146M
Margins
Gross margin 45.8% 45.5% 38.5% 41.3% 43.0% 38.8% 31.9% 28.8% 35.1% 38.3%
Operating margin 5.4% 5.6% โˆ’8.6% โˆ’7.5% โˆ’1.9% โˆ’2.6% โˆ’7.1% โˆ’19.5% โˆ’46.3% โˆ’1.4%
EBITDA margin 7.7% 8.0% โˆ’5.6% โˆ’4.2% 1.4% 0.2% โˆ’0.5% โˆ’9.6% โˆ’36.5% 7.1%
Net margin 5.5% 3.6% โˆ’3.7% โˆ’10.0% 0.5% โˆ’1.5% โˆ’0.2% โˆ’23.4% โˆ’49.8% โˆ’4.2%
FCF margin 3.2% โˆ’8.6% 8.9% โˆ’2.3% โˆ’4.5% โˆ’0.5% โˆ’6.0% โˆ’6.9% 7.5% 9.0%
Returns
Return on capital 6.7% 5.7% โˆ’9.9% โˆ’10.6% โ€” โ€” โ€” โ€” โ€” โ€”
Return on capital employed 6.4% 6.6% โˆ’8.9% โˆ’9.2% โˆ’2.3% โˆ’3.6% โˆ’4.8% โˆ’15.9% โˆ’48.7% โˆ’1.9%
Return on equity 7.3% 4.9% โˆ’4.1% โˆ’12.8% 0.6% โˆ’2.4% โˆ’0.2% โˆ’28.2% โˆ’125.6% โˆ’33.5%
Return on assets 5.3% 3.6% โˆ’3.0% โˆ’9.0% 0.4% โˆ’1.6% โˆ’0.2% โˆ’14.8% โˆ’32.3% โˆ’3.8%
Return on tangible equity 7.5% 4.9% โˆ’4.8% โˆ’15.3% 0.7% โˆ’2.6% โˆ’0.4% โ€” โ€” โ€”
Growth
Revenue growth โ€” 4.7% โˆ’20.6% 0.1% โˆ’4.4% 11.2% 82.2% 12.0% โˆ’19.7% 17.5%
Net income growth โ€” โˆ’32.3% โˆ’181.1% โ€” โ€” โˆ’463.1% โ€” โ€” โ€” โ€”
EPS growth โ€” โˆ’31.9% โˆ’181.6% โ€” โ€” โˆ’460.0% โ€” โ€” โ€” โ€”
FCF growth โ€” โˆ’377.7% โ€” โˆ’125.3% โ€” โ€” โ€” โ€” โ€” 41.9%
Share count change โ€” โˆ’0.5% โˆ’1.7% โˆ’0.1% 0.9% 0.6% 28.3% 25.8% 0.7% 1.0%
Financial health
Net debt / EBITDA โˆ’1.9x โˆ’1.4x โ€” โ€” โ€” โ€” โ€” โ€” โ€” โ€”
Debt / equity 0.1x 0.1x 0.1x 0.1x โ€” โ€” โ€” โ€” โ€” โ€”
Interest coverage 60.4x 67.2x โˆ’85.2x โˆ’78.2x โˆ’1,954.6x โˆ’432.4x โˆ’21.2x โˆ’13.7x โˆ’19.4x โˆ’0.8x
Current ratio 2.8x 3.9x 3.0x 2.8x 3.4x 2.4x 2.1x 2.6x 2.0x 1.8x
Quick ratio 2.0x 2.7x 2.2x 2.0x 2.0x 1.5x 1.1x 1.3x 1.2x 1.2x
Capital allocation
Capex / revenue 3.4% 2.2% 1.5% 1.8% 1.3% 1.0% 1.7% 3.2% 3.7% 2.9%
Stock comp / revenue 1.1% 1.1% 1.4% 1.3% 1.3% 1.3% 2.8% 1.4% 1.7% 0.9%
Payouts / FCF 211.2% โ€” 69.3% โ€” โ€” โ€” โ€” โ€” 0.0% โ€”
Quality scores
Piotroski F-score โ€” 5.0 3.0 4.0 4.0 3.0 1.0 3.0 4.0 5.0
Altman Z'' 9.8 10.9 9.2 9.3 10.1 8.4 3.5 1.4 โˆ’2.4 โˆ’0.4
Accruals ratio โˆ’1.0% 9.9% โˆ’11.5% โˆ’8.6% 3.5% โˆ’2.1% 3.4% โˆ’12.5% โˆ’39.6% โˆ’14.8%

Source: SEC EDGAR XBRL filings (CIK 0000926282). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only โ€” not investment advice. Check the original filings before relying on any figure.

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