ADTNNasdaqTelephone & Telegraph ApparatusFiscal year ends December 31
ADTRAN Holdings, Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 4, 2026
$6.43+0.12 (+1.90%)
Close on Oct 19, 2026
- Market cap
- $520.50M
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
38.3%−4.7 pts over 5 years
Operating margin
-1.4%+0.5 pts over 5 years
Net margin
-4.2%−4.7 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +17.5% | +1.9% | +16.4% | +6.1% | |
| Gross profit | +28.0% | +8.2% | +13.8% | +4.5% | |
| Free cash flow | +41.9% | – | – | +30.6% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 7.3% | 0.6% | – | |
| Return on assets | 5.4% | 0.4% | -3.8% | |
| Current ratio | 2.79 | 3.37 | 1.76 | |
| Debt to equity | 0.06 | – | – | |
| Net debt to EBITDA | -1.06× | – | – | |
| Interest coverage | 60.4× | -1954.6× | -0.8× | |
| Inventory turnover | 3.5× | 2.6× | 2.8× | |
| Capex to revenue | 3.4% | 1.3% | 2.9% | |
| Diluted shares | 49M | 48M | 80M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Adtran generated $323.59M from operations and spent $186.97M on capital expenditure, dividends and share buybacks. 67% of that went back into the business.
Generated
$323.59M
Used
$186.97M
Capital expenditure$125.32M67%Dividends$61.65M33%Share buybacks$00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-1.5%
×Asset turnover1.03×
×Equity multiplier1.50×
=Return on equity, FY2021-2.4%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2021 | -1.5% | 1.03× | 1.50× | -2.4% |
| FY2020 | 0.5% | 0.95× | 1.42× | 0.6% |
| FY2019 | -10.0% | 0.90× | 1.42× | -12.8% |
| FY2018 | -3.7% | 0.82× | 1.37× | -4.1% |
| FY2017 | 3.6% | 1.00× | 1.37× | 4.9% |
| FY2016 | 5.5% | 0.98× | 1.35× | 7.3% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
5of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero-$45.66M
- Cash generatingOperating cash flow above zero$129.77M
- Return on assets improvedROA up on the prior year-27.4% → -3.9%
- Earnings backed by cashOperating cash flow above net income$129.77M vs -$45.66M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose2.04 → 1.76
- No dilutionShare count did not rise79M → 80M
- Gross margin improvedGross margin up on the prior year35.13% → 38.29%
- More efficientAsset turnover rose0.55 → 0.93