ADTRAN (ADTN) Financials

$8.04 -0.12 (-1.47%)

Closing price 05/30/2025 04:00 PM Eastern

Extended Trading

$8.02 -0.02 (-0.25%)

As of 05/30/2025 04:45 PM Eastern

Annual Income Statements for ADTRAN

This table shows ADTRAN's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022
Period end date	12/31/2024	12/31/2023	12/31/2022
Net Income / (Loss) Attributable to Common Shareholders	-451	-266	-2.04
Consolidated Net Income / (Loss)	-441	-259	-8.89
Net Income / (Loss) Continuing Operations	-441	-259	-8.89
Total Pre-Tax Income	-432	-231	-71
Total Operating Income	-417	-221	-73
Total Gross Profit	330	333	327
Total Revenue	923	1,149	1,026
Operating Revenue	923	1,149	1,026
Total Cost of Revenue	592	816	698
Operating Cost of Revenue	592	816	698
Total Operating Expenses	747	554	400
Selling, General & Admin Expense	233	258	209
Research & Development Expense	221	258	174
Impairment Charge	293	38	17
Total Other Income / (Expense), net	-15	-9.94	1.86
Interest Expense	22	16	3.44
Interest & Investment Income	6.65	5.09	-9.22
Other Income / (Expense), net	0.25	1.27	15
Income Tax Expense	8.79	28	-62
Net Income / (Loss) Attributable to Noncontrolling Interest	9.82	6.95	-6.85
Basic Earnings per Share	($5.67)	($3.39)	($0.03)
Weighted Average Basic Shares Outstanding	78.93M	78.42M	62.35M
Diluted Earnings per Share	($5.67)	($3.39)	($0.03)
Weighted Average Diluted Shares Outstanding	78.93M	78.42M	62.35M
Weighted Average Basic & Diluted Shares Outstanding	79.86M	79.12M	78.63M

This table shows ADTRAN's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	-45	-31	-50	-325	-109	-78	-39	-40	39	-42
Consolidated Net Income / (Loss)	-44	-29	-47	-322	-107	-76	-36	-40	35	-45
Net Income / (Loss) Continuing Operations	-44	-29	-47	-322	-107	-76	-36	-40	35	-45
Total Pre-Tax Income	-19	-28	-45	-340	-43	-92	-45	-52	-23	-49
Total Operating Income	-15	-24	-38	-340	-38	-89	-45	-50	-33	-48
Total Gross Profit	91	85	82	72	78	74	93	88	107	103
Total Revenue	243	228	226	226	225	272	327	324	358	341
Operating Revenue	243	228	226	226	225	272	327	324	358	341
Total Cost of Revenue	152	142	144	154	147	198	235	236	251	238
Operating Cost of Revenue	152	142	144	154	147	198	235	236	251	238
Total Operating Expenses	106	109	120	412	116	164	137	138	140	151
Selling, General & Admin Expense	57	58	59	59	61	63	67	67	78	75
Research & Development Expense	49	52	60	60	55	63	71	70	62	59
Total Other Income / (Expense), net	-3.47	-4.48	-6.57	-0.64	-5.05	-2.91	0.05	-2.03	10	-1.15
Interest Expense	4.87	5.68	6.91	4.60	4.44	4.51	4.06	3.29	2.01	1.30
Interest & Investment Income	0.71	2.05	1.24	2.65	2.84	-0.92	1.62	1.56	0.77	-2.34
Other Income / (Expense), net	0.69	-0.85	-0.90	1.31	-3.45	2.52	2.49	-0.30	12	2.49
Income Tax Expense	25	0.39	2.14	-19	64	-17	-8.36	-11	-58	-4.31
Net Income / (Loss) Attributable to Noncontrolling Interest	1.71	2.38	2.85	2.88	1.87	2.56	2.88	-0.37	-3.93	-2.93
Basic Earnings per Share	($0.56)	($0.36)	($0.63)	($4.12)	($1.38)	($1.00)	($0.50)	($0.51)	$0.52	($0.57)
Weighted Average Basic Shares Outstanding	78.93M	78.95M	78.85M	78.81M	78.42M	78.39M	78.37M	78.36M	62.35M	73.04M
Diluted Earnings per Share	($0.56)	($0.36)	($0.63)	($4.12)	($1.38)	($1.00)	($0.50)	($0.51)	$0.52	($0.57)
Weighted Average Diluted Shares Outstanding	78.93M	78.95M	78.85M	78.81M	78.42M	78.39M	78.37M	78.36M	62.35M	73.04M
Weighted Average Basic & Diluted Shares Outstanding	79.86M	79.25M	79.23M	79.12M	79.12M	78.70M	78.68M	78.66M	78.63M	77.66M

This table details how cash moves in and out of ADTRAN's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022
Period end date	12/31/2024	12/31/2023	12/31/2022
Net Change in Cash & Equivalents	-9.15	-19	65
Net Cash From Operating Activities	103	-46	-44
Net Cash From Continuing Operating Activities	103	-46	-44
Net Income / (Loss) Continuing Operations	-441	-259	-8.89
Consolidated Net Income / (Loss)	-441	-259	-8.89
Depreciation Expense	91	113	68
Amortization Expense	3.95	0.84	0.31
Non-Cash Adjustments To Reconcile Net Income	312	98	53
Changes in Operating Assets and Liabilities, net	137	1.59	-157
Net Cash From Investing Activities	-62	-32	56
Net Cash From Continuing Investing Activities	-62	-32	56
Purchase of Property, Plant & Equipment	-32	-34	-17
Acquisitions	-31	-9.44	44
Purchase of Investments	-0.27	-0.87	-24
Sale of Property, Plant & Equipment	0.00	0.00	0.01
Sale and/or Maturity of Investments	1.24	11	52
Other Investing Activities, net	-0.06	1.22	1.13
Net Cash From Financing Activities	-50	59	53
Net Cash From Continuing Financing Activities	-50	59	53
Repayment of Debt	-48	-91	-69
Repurchase of Common Equity	-17	-1.22	0.00
Payment of Dividends	0.00	-21	-23
Issuance of Debt	26	178	142
Other Financing Activities, net	-10	-5.92	2.65
Cash Interest Paid	21	13	1.73
Cash Income Taxes Paid	6.69	19	3.83

This table details how cash moves in and out of ADTRAN's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	-11	-21	3.24	20	-27	-6.31	-14	29	2.76	71
Net Cash From Operating Activities	4.54	42	20	37	-16	6.85	-16	-20	-1.50	-37
Net Cash From Continuing Operating Activities	4.54	42	20	37	-16	6.85	-16	-20	-1.50	-37
Net Income / (Loss) Continuing Operations	-44	-29	-47	-322	-107	-76	-36	-40	35	-45
Consolidated Net Income / (Loss)	-44	-29	-47	-322	-107	-76	-36	-40	35	-45
Depreciation Expense	23	23	23	23	22	24	34	33	33	28
Amortization Expense	2.94	-	-	1.01	0.23	0.32	0.15	0.15	0.11	0.20
Non-Cash Adjustments To Reconcile Net Income	1.88	5.08	4.98	300	0.50	73	7.88	17	17	29
Changes in Operating Assets and Liabilities, net	21	43	39	34	68	-15	-22	-30	-86	-49
Net Cash From Investing Activities	-15	-18	-16	-13	-9.45	-5.29	-11	-6.79	12	39
Net Cash From Continuing Investing Activities	-15	-18	-16	-13	-9.45	-5.29	-11	-6.79	12	39
Purchase of Property, Plant & Equipment	16	-19	-16	-13	-0.01	-14	-12	-8.44	-6.93	-6.86
Purchase of Investments	-0.07	-0.07	-0.08	-0.04	-0.06	-0.23	-0.06	-0.52	-1.68	-5.21
Sale and/or Maturity of Investments	0.05	0.24	0.08	0.87	0.02	8.47	1.14	0.93	21	5.40
Other Investing Activities, net	-0.34	0.28	-	0.00	0.04	0.02	-0.08	1.23	-0.17	1.29
Net Cash From Financing Activities	-0.35	-45	-0.67	-4.16	-1.44	-7.87	13	56	-8.19	70
Net Cash From Continuing Financing Activities	-0.35	-45	-0.67	-4.16	-1.44	-7.87	13	56	-8.19	70
Repayment of Debt	43	-17	-39	-34	-16	-0.83	-5.88	-68	-7.65	-33
Repurchase of Common Equity	-0.00	-17	-0.02	-0.01	-0.03	0.01	-0.03	-1.18	-	-
Issuance of Debt	-43	-	38	30	14	0.03	25	138	8.75	105
Other Financing Activities, net	-0.35	-10	-0.01	0.04	0.23	0.01	0.05	-6.20	-2.27	4.62
Cash Interest Paid	2.66	12	1.31	5.24	4.06	3.82	3.11	1.61	1.10	0.51
Cash Income Taxes Paid	-2.43	1.69	5.12	2.32	19	-	-1.25	1.25	-	-

This table presents ADTRAN's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022
Period end date	12/31/2024	12/31/2023	12/31/2022
Total Assets	1,179	1,683	1,943
Total Current Assets	611	737	882
Cash & Equivalents	78	87	109
Accounts Receivable	188	234	312
Inventories, net	269	362	428
Prepaid Expenses	59	46	34
Current Deferred & Refundable Income Taxes	5.46	7.93	0.00
Other Current Assets	12	0.00	-
Plant, Property, & Equipment, net	103	114	111
Total Noncurrent Assets	466	832	950
Long-Term Investments	32	28	33
Goodwill	53	353	382
Intangible Assets	285	337	401
Noncurrent Deferred & Refundable Income Taxes	18	26	68
Other Noncurrent Operating Assets	78	88	67
Total Liabilities & Shareholders' Equity	1,179	1,683	1,943
Total Liabilities	622	636	640
Total Current Liabilities	294	278	429
Accounts Payable	170	163	238
Accrued Expenses	36	36	35
Current Deferred Revenue	53	47	41
Current Deferred & Payable Income Tax Liabilities	1.94	5.22	9.03
Current Employee Benefit Liabilities	33	27	45
Total Noncurrent Liabilities	328	357	211
Long-Term Debt	190	195	60
Capital Lease Obligations	26	31	23
Noncurrent Deferred Revenue	22	25	19
Noncurrent Deferred & Payable Income Tax Liabilities	31	36	62
Noncurrent Employee Benefit Liabilities	42	42	37
Other Noncurrent Operating Liabilities	18	29	10
Commitments & Contingencies	0.00	0.00	0.00
Redeemable Noncontrolling Interest	423	442	0.00
Total Equity & Noncontrolling Interests	134	605	1,304
Total Preferred & Common Equity	134	605	974
Total Common Equity	134	605	974
Common Stock	810	796	897
Retained Earnings	-681	-233	55
Treasury Stock	-5.20	-5.83	-4.13
Accumulated Other Comprehensive Income / (Loss)	11	47	26

This table presents ADTRAN's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022
Period end date	9/30/2024	6/30/2024	3/31/2024	9/30/2023	6/30/2023	3/31/2023	9/30/2022
Total Assets	1,273	1,291	1,328	1,742	1,883	1,939	1,851
Total Current Assets	639	668	697	780	850	884	876
Cash & Equivalents	88	111	107	116	124	136	111
Accounts Receivable	185	198	200	254	272	293	317
Inventories, net	283	288	322	374	417	416	416
Prepaid Expenses	69	59	60	36	34	37	31
Current Deferred & Refundable Income Taxes	13	13	8.72	-	-	-	-
Plant, Property, & Equipment, net	147	135	127	119	116	112	105
Total Noncurrent Assets	487	488	504	844	917	943	871
Long-Term Investments	32	30	29	25	31	33	50
Goodwill	57	55	55	339	388	386	358
Intangible Assets	286	291	306	329	355	379	394
Noncurrent Deferred & Refundable Income Taxes	26	25	25	90	82	82	13
Other Noncurrent Operating Assets	87	87	88	61	61	63	56
Total Liabilities & Shareholders' Equity	1,273	1,291	1,328	1,742	1,883	1,939	1,851
Total Liabilities	637	631	620	625	655	676	666
Total Current Liabilities	305	290	283	285	310	342	465
Accounts Payable	173	159	159	149	172	199	276
Accrued Expenses	34	36	36	30	27	27	26
Current Deferred Revenue	55	55	55	50	48	56	41
Current Deferred & Payable Income Tax Liabilities	2.01	2.23	6.27	10	15	19	27
Current Employee Benefit Liabilities	40	38	26	36	37	30	42
Total Noncurrent Liabilities	333	341	338	340	345	334	201
Long-Term Debt	190	190	195	200	200	180	60
Capital Lease Obligations	26	27	28	24	21	21	21
Noncurrent Deferred Revenue	25	27	23	24	24	25	18
Noncurrent Deferred & Payable Income Tax Liabilities	21	21	15	38	45	52	50
Noncurrent Employee Benefit Liabilities	44	42	41	38	39	39	42
Other Noncurrent Operating Liabilities	26	34	35	17	16	16	9.70
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	422	440	442	432	445	443	-
Total Equity & Noncontrolling Interests	214	220	266	685	782	820	1,185
Total Preferred & Common Equity	214	220	266	685	782	820	871
Total Common Equity	214	220	266	685	782	820	871
Common Stock	807	804	800	792	788	784	884
Retained Earnings	-635	-606	-558	-113	-41	8.01	32
Treasury Stock	-5.20	-5.20	-5.20	-5.97	-5.94	-5.92	-4.08
Accumulated Other Comprehensive Income / (Loss)	47	28	30	12	41	35	-40

This table displays calculated financial ratios and metrics derived from ADTRAN's official financial filings.

Metric	2024	2023	2022
Period end date	12/31/2024	12/31/2023	12/31/2022
Growth Metrics	-	-	-
Revenue Growth	-19.70%	12.05%	82.15%
EBITDA Growth	-203.08%	-1,212.21%	79.65%
EBIT Growth	-89.48%	-277.30%	-436.13%
NOPAT Growth	-88.50%	-203.83%	-395.42%
Net Income Growth	-70.06%	-2,817.90%	-2.93%
EPS Growth	-67.26%	-11,200.00%	83.33%
Operating Cash Flow Growth	326.01%	-3.11%	-1,570.35%
Free Cash Flow Firm Growth	2,617.30%	99.28%	-8,302.09%
Invested Capital Growth	-42.75%	-11.25%	461.21%
Revenue Q/Q Growth	1.92%	-10.36%	24.85%
EBITDA Q/Q Growth	8.62%	-40.98%	329.46%
EBIT Q/Q Growth	6.00%	-9.87%	-35.32%
NOPAT Q/Q Growth	5.11%	-2.19%	-54.32%
Net Income Q/Q Growth	12.59%	-120.98%	81.50%
EPS Q/Q Growth	12.90%	-127.52%	95.31%
Operating Cash Flow Q/Q Growth	25.33%	-48.02%	35.54%
Free Cash Flow Firm Q/Q Growth	19.07%	96.02%	-13.50%
Invested Capital Q/Q Growth	-9.31%	-4.24%	12.67%
Profitability Metrics	-	-	-
Gross Margin	35.80%	28.98%	31.91%
EBITDA Margin	-34.89%	-9.24%	0.93%
Operating Margin	-45.20%	-19.26%	-7.10%
EBIT Margin	-45.18%	-19.15%	-5.69%
Profit (Net Income) Margin	-47.80%	-22.57%	-0.87%
Tax Burden Percent	102.03%	112.17%	12.52%
Interest Burden Percent	103.70%	105.09%	121.70%
Effective Tax Rate	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	-32.05%	-12.57%	-6.63%
ROIC Less NNEP Spread (ROIC-NNEP)	-169.21%	-197.12%	-75.17%
Return on Net Nonoperating Assets (RNNOA)	-22.93%	-9.49%	5.56%
Return on Equity (ROE)	-54.98%	-22.07%	-1.07%
Cash Return on Invested Capital (CROIC)	22.32%	-0.66%	-146.13%
Operating Return on Assets (OROA)	-29.13%	-12.13%	-4.64%
Return on Assets (ROA)	-30.82%	-14.30%	-0.71%
Return on Common Equity (ROCE)	-25.33%	-14.82%	-0.86%
Return on Equity Simple (ROE_SIMPLE)	-328.13%	-42.88%	-0.91%
Net Operating Profit after Tax (NOPAT)	-292	-155	-51
NOPAT Margin	-31.64%	-13.48%	-4.97%
Net Nonoperating Expense Percent (NNEP)	137.16%	184.54%	68.54%
Return On Investment Capital (ROIC_SIMPLE)	-83.44%	-18.63%	-3.52%
Cost of Revenue to Revenue	64.20%	71.02%	68.09%
SG&A Expenses to Revenue	25.29%	22.47%	20.37%
R&D to Revenue	24.00%	22.48%	16.94%
Operating Expenses to Revenue	81.00%	48.24%	39.01%
Earnings before Interest and Taxes (EBIT)	-417	-220	-58
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-322	-106	9.55
Valuation Ratios	-	-	-
Price to Book Value (P/BV)	4.91	0.96	1.46
Price to Tangible Book Value (P/TBV)	0.00	0.00	7.44
Price to Revenue (P/Rev)	0.72	0.50	1.39
Price to Earnings (P/E)	0.00	0.00	0.00
Dividend Yield	0.00%	4.90%	0.98%
Earnings Yield	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	1.79	0.98	1.34
Enterprise Value to Revenue (EV/Rev)	1.29	0.98	1.71
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	183.45
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	11.54	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	5.85	0.00	0.00
Leverage & Solvency	-	-	-
Debt to Equity	0.39	0.22	0.11
Long-Term Debt to Equity	0.39	0.22	0.06
Financial Leverage	0.14	0.05	-0.07
Leverage Ratio	1.78	1.54	1.51
Compound Leverage Factor	1.85	1.62	1.84
Debt to Total Capital	27.88%	17.78%	9.91%
Short-Term Debt to Total Capital	0.00%	0.00%	4.18%
Long-Term Debt to Total Capital	27.88%	17.78%	5.72%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	54.72%	34.72%	22.78%
Common Equity to Total Capital	17.39%	47.50%	67.31%
Debt to EBITDA	-0.67	-2.13	15.01
Net Debt to EBITDA	-0.33	-1.05	0.18
Long-Term Debt to EBITDA	-0.67	-2.13	8.67
Debt to NOPAT	-0.74	-1.46	-2.81
Net Debt to NOPAT	-0.36	-0.72	-0.03
Long-Term Debt to NOPAT	-0.74	-1.46	-1.62
Altman Z-Score	-0.23	0.93	2.08
Noncontrolling Interest Sharing Ratio	53.92%	32.83%	19.85%
Liquidity Ratios	-	-	-
Current Ratio	2.08	2.65	2.06
Quick Ratio	0.90	1.15	0.98
Cash Flow Metrics	-	-	-
Free Cash Flow to Firm (FCFF)	203	-8.08	-1,124
Operating Cash Flow to CapEx	317.59%	-135.39%	-259.25%
Free Cash Flow to Firm to Interest Expense	9.22	-0.50	-326.94
Operating Cash Flow to Interest Expense	4.67	-2.80	-12.87
Operating Cash Flow Less CapEx to Interest Expense	3.20	-4.86	-17.83
Efficiency Ratios	-	-	-
Asset Turnover	0.64	0.63	0.82
Accounts Receivable Turnover	4.38	4.21	4.25
Inventory Turnover	1.88	2.07	2.46
Fixed Asset Turnover	8.52	10.25	12.32
Accounts Payable Turnover	3.55	4.07	4.11
Days Sales Outstanding (DSO)	83.41	86.74	85.82
Days Inventory Outstanding (DIO)	194.58	176.64	148.30
Days Payable Outstanding (DPO)	102.70	89.60	88.91
Cash Conversion Cycle (CCC)	175.29	173.78	145.21
Capital & Investment Metrics	-	-	-
Invested Capital	663	1,158	1,305
Invested Capital Turnover	1.01	0.93	1.33
Increase / (Decrease) in Invested Capital	-495	-147	1,073
Enterprise Value (EV)	1,189	1,131	1,752
Market Capitalization	660	578	1,421
Book Value per Share	$1.70	$7.69	$12.54
Tangible Book Value per Share	($2.57)	($1.09)	$2.46
Total Capital	773	1,273	1,447
Total Debt	216	226	143
Total Long-Term Debt	216	226	83
Net Debt	106	112	1.69
Capital Expenditures (CapEx)	32	34	17
Debt-free, Cash-free Net Working Capital (DFCFNWC)	239	372	405
Debt-free Net Working Capital (DFNWC)	317	459	514
Net Working Capital (NWC)	317	459	454
Net Nonoperating Expense (NNE)	149	104	-42
Net Nonoperating Obligations (NNO)	106	112	1.69
Total Depreciation and Amortization (D&A)	95	114	68
Debt-free, Cash-free Net Working Capital to Revenue	25.94%	32.34%	39.52%
Debt-free Net Working Capital to Revenue	34.35%	39.92%	50.15%
Net Working Capital to Revenue	34.35%	39.92%	44.25%
Earnings Adjustments	-	-	-
Adjusted Basic Earnings per Share	($5.67)	($3.41)	$0.00
Adjusted Weighted Average Basic Shares Outstanding	78.93M	78.42M	0.00
Adjusted Diluted Earnings per Share	($5.67)	($3.41)	$0.00
Adjusted Weighted Average Diluted Shares Outstanding	78.93M	78.42M	0.00
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	79.86M	79.12M	0.00
Normalized Net Operating Profit after Tax (NOPAT)	-87	-128	-39
Normalized NOPAT Margin	-9.45%	-11.17%	-3.78%
Pre Tax Income Margin	-46.85%	-20.12%	-6.92%
Debt Service Ratios	-	-	-
EBIT to Interest Expense	-18.90	-13.50	-16.97
NOPAT to Interest Expense	-13.24	-9.50	-14.83
EBIT Less CapEx to Interest Expense	-20.37	-15.56	-21.93
NOPAT Less CapEx to Interest Expense	-14.71	-11.57	-19.80
Payout Ratios	-	-	-
Dividend Payout Ratio	0.00%	-8.19%	-257.48%
Augmented Payout Ratio	-3.94%	-8.66%	-257.48%

This table displays calculated financial ratios and metrics derived from ADTRAN's official financial filings.

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	7.70%	-16.39%	-30.97%	-30.17%	-37.06%	-20.07%	90.29%	109.63%	132.41%	146.75%
EBITDA Growth	157.28%	97.49%	-109.23%	-1,809.55%	-266.82%	-251.61%	-163.97%	-589.66%	640.45%	-229.43%
EBIT Growth	64.82%	71.38%	6.95%	-576.26%	-92.73%	-90.61%	-578.03%	-16,918.71%	-250.02%	-383.78%
NOPAT Growth	59.77%	73.14%	14.17%	-583.02%	-14.42%	-85.96%	-869.11%	-73,035.29%	-354.19%	-377.41%
Net Income Growth	59.35%	61.85%	-29.81%	-695.17%	-406.18%	-68.64%	-1,789.92%	-3,489.44%	934.25%	-330.22%
EPS Growth	59.42%	64.00%	-26.00%	-707.84%	-365.38%	-75.44%	-1,350.00%	-2,450.00%	677.78%	-171.43%
Operating Cash Flow Growth	127.89%	513.94%	222.57%	283.67%	-989.63%	118.60%	-50.50%	-509.24%	94.22%	-444.77%
Free Cash Flow Firm Growth	302.27%	506.12%	149.83%	124.59%	111.00%	88.52%	-3,889.77%	-12,130.74%	-13,343.54%	-18,614.10%
Invested Capital Growth	-42.75%	-39.55%	-43.47%	-39.13%	-11.25%	4.42%	418.15%	466.87%	461.21%	474.68%
Revenue Q/Q Growth	6.65%	0.76%	-0.08%	0.31%	-17.20%	-16.81%	1.07%	-9.59%	5.15%	98.04%
EBITDA Q/Q Growth	804.65%	90.54%	94.73%	-1,530.98%	69.12%	-688.77%	51.94%	-242.49%	165.09%	-243.49%
EBIT Q/Q Growth	41.83%	36.66%	88.41%	-724.02%	52.68%	-105.95%	15.79%	-134.84%	53.20%	-616.50%
NOPAT Q/Q Growth	36.91%	37.39%	88.72%	-803.04%	57.88%	-100.09%	10.26%	-51.28%	31.54%	-927.54%
Net Income Q/Q Growth	-50.78%	38.62%	85.39%	-200.55%	-41.48%	-108.89%	10.48%	-215.73%	177.92%	-2,193.28%
EPS Q/Q Growth	-55.56%	42.86%	84.71%	-194.29%	-38.00%	-100.00%	1.96%	-198.08%	191.23%	-1,525.00%
Operating Cash Flow Q/Q Growth	-89.19%	111.23%	-45.63%	324.67%	-337.95%	142.17%	18.53%	-1,232.84%	95.94%	-241.29%
Free Cash Flow Firm Q/Q Growth	4.99%	-14.31%	97.51%	123.78%	205.99%	89.49%	2.53%	-1.24%	-10.62%	-3,555.37%
Invested Capital Q/Q Growth	-9.31%	-0.57%	-7.38%	-31.37%	-4.24%	-7.02%	-0.27%	-0.05%	12.67%	361.40%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	37.57%	37.44%	36.10%	31.95%	34.80%	27.26%	28.27%	27.11%	29.98%	30.24%
EBITDA Margin	4.55%	-0.69%	-7.34%	-139.20%	-8.56%	-22.95%	-2.42%	-5.09%	3.23%	-5.22%
Operating Margin	-6.23%	-10.53%	-16.95%	-150.19%	-16.68%	-32.79%	-13.63%	-15.35%	-9.18%	-14.09%
EBIT Margin	-5.95%	-10.91%	-17.35%	-149.61%	-18.21%	-31.86%	-12.87%	-15.45%	-5.95%	-13.36%
Profit (Net Income) Margin	-17.92%	-12.67%	-20.80%	-142.22%	-47.47%	-27.78%	-11.06%	-12.49%	9.76%	-13.17%
Tax Burden Percent	233.87%	101.37%	104.76%	94.52%	250.86%	82.05%	81.24%	78.15%	-155.02%	91.23%
Interest Burden Percent	128.79%	114.63%	114.46%	100.58%	103.90%	106.26%	105.80%	103.46%	105.83%	108.01%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	-4.42%	-6.88%	-11.07%	-105.33%	-10.89%	-24.85%	-16.60%	-16.74%	-8.57%	-11.92%
ROIC Less NNEP Spread (ROIC-NNEP)	-34.70%	-19.69%	-38.24%	-235.97%	-153.46%	-64.27%	24.33%	-2.70%	-102.96%	0.02%
Return on Net Nonoperating Assets (RNNOA)	-4.70%	-2.12%	-3.01%	-15.38%	-7.39%	-1.86%	-0.38%	0.13%	7.61%	0.00%
Return on Equity (ROE)	-9.12%	-8.99%	-14.08%	-120.71%	-18.28%	-26.71%	-16.98%	-16.60%	-0.95%	-11.92%
Cash Return on Invested Capital (CROIC)	22.32%	17.59%	20.83%	14.55%	-0.66%	-17.12%	-151.10%	-151.19%	-146.13%	-145.57%
Operating Return on Assets (OROA)	-3.84%	-6.55%	-10.39%	-96.31%	-11.54%	-22.73%	-14.00%	-14.60%	-4.85%	-9.11%
Return on Assets (ROA)	-11.55%	-7.61%	-12.45%	-91.55%	-30.08%	-19.82%	-12.03%	-11.81%	7.96%	-8.98%
Return on Common Equity (ROCE)	-4.20%	-4.61%	-7.48%	-66.53%	-12.28%	-18.06%	-12.18%	-12.05%	-0.76%	-9.50%
Return on Equity Simple (ROE_SIMPLE)	0.00%	-235.78%	-250.36%	-203.38%	0.00%	-17.14%	-11.06%	-5.88%	0.00%	-5.51%
Net Operating Profit after Tax (NOPAT)	-11	-17	-27	-238	-26	-63	-31	-35	-23	-34
NOPAT Margin	-4.36%	-7.37%	-11.87%	-105.13%	-11.68%	-22.95%	-9.54%	-10.75%	-6.42%	-9.87%
Net Nonoperating Expense Percent (NNEP)	30.29%	12.81%	27.17%	130.64%	142.57%	39.43%	-40.93%	-14.03%	94.39%	-11.94%
Return On Investment Capital (ROIC_SIMPLE)	-3.03%	-	-	-	-3.17%	-	-	-	-1.59%	-
Cost of Revenue to Revenue	62.43%	62.56%	63.90%	68.05%	65.20%	72.74%	71.73%	72.89%	70.02%	69.76%
SG&A Expenses to Revenue	23.54%	25.30%	26.33%	26.13%	27.17%	23.10%	20.34%	20.81%	21.84%	21.98%
R&D to Revenue	20.26%	22.67%	26.72%	26.64%	24.31%	23.04%	21.56%	21.66%	17.19%	17.37%
Operating Expenses to Revenue	43.80%	47.97%	53.05%	182.13%	51.48%	60.05%	41.90%	42.46%	39.15%	44.33%
Earnings before Interest and Taxes (EBIT)	-14	-25	-39	-338	-41	-87	-42	-50	-21	-46
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	11	-1.57	-17	-315	-19	-63	-7.92	-16	12	-18
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	4.91	2.20	1.89	1.62	0.96	0.95	1.05	1.49	1.46	1.69
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	37.84	20.88	22.15	7.44	12.28
Price to Revenue (P/Rev)	0.72	0.52	0.44	0.41	0.50	0.51	0.61	1.02	1.39	1.79
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	6.84%	6.62%	4.90%	4.37%	3.46%	1.74%	0.98%	0.47%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	1.79	1.35	1.27	1.21	0.98	0.97	1.03	1.31	1.34	1.52
Enterprise Value to Revenue (EV/Rev)	1.29	1.09	0.98	0.91	0.98	0.91	0.99	1.43	1.71	2.14
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	183.45	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	11.54	12.00	19.80	87.79	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	5.85	5.78	4.39	6.28	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.39	0.34	0.33	0.31	0.22	0.21	0.19	0.17	0.11	0.11
Long-Term Debt to Equity	0.39	0.34	0.33	0.31	0.22	0.20	0.18	0.16	0.06	0.07
Financial Leverage	0.14	0.11	0.08	0.07	0.05	0.03	-0.02	-0.05	-0.07	-0.12
Leverage Ratio	1.78	1.72	1.68	1.66	1.54	1.56	1.58	1.57	1.51	1.56
Compound Leverage Factor	2.30	1.97	1.92	1.67	1.60	1.66	1.67	1.62	1.60	1.68
Debt to Total Capital	27.88%	25.31%	24.73%	23.94%	17.78%	17.33%	15.88%	14.39%	9.91%	10.28%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.78%	0.75%	0.74%	4.18%	4.11%
Long-Term Debt to Total Capital	27.88%	25.31%	24.73%	23.94%	17.78%	16.55%	15.13%	13.66%	5.72%	6.17%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	54.72%	49.55%	50.15%	47.48%	34.72%	31.97%	30.52%	30.01%	22.78%	23.75%
Common Equity to Total Capital	17.39%	25.14%	25.12%	28.58%	47.50%	50.70%	53.61%	55.60%	67.31%	65.97%
Debt to EBITDA	-0.67	-0.61	-0.52	-0.55	-2.13	-3.11	-7.57	-20.60	15.01	-32.62
Net Debt to EBITDA	-0.33	-0.27	-0.18	-0.21	-1.05	-1.23	-2.39	-4.05	0.18	6.31
Long-Term Debt to EBITDA	-0.67	-0.61	-0.52	-0.55	-2.13	-2.97	-7.21	-19.55	8.67	-19.58
Debt to NOPAT	-0.74	-0.70	-0.61	-0.62	-1.46	-1.55	-1.89	-2.48	-2.81	-4.11
Net Debt to NOPAT	-0.36	-0.31	-0.21	-0.24	-0.72	-0.61	-0.60	-0.49	-0.03	0.79
Long-Term Debt to NOPAT	-0.74	-0.70	-0.61	-0.62	-1.46	-1.48	-1.80	-2.35	-1.62	-2.47
Altman Z-Score	0.89	0.71	0.73	0.15	1.28	1.44	1.71	1.96	2.14	1.98
Noncontrolling Interest Sharing Ratio	53.92%	48.71%	46.89%	44.88%	32.83%	32.39%	28.26%	27.41%	19.85%	20.26%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.08	2.10	2.31	2.47	2.65	2.73	2.75	2.58	2.06	1.88
Quick Ratio	0.90	0.90	1.07	1.08	1.15	1.30	1.29	1.26	0.98	0.92
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	485	462	539	273	120	-114	-1,081	-1,109	-1,096	-991
Operating Cash Flow to CapEx	0.00%	223.40%	124.40%	273.65%	-181,000.00%	50.50%	-139.00%	-236.12%	-21.57%	-536.97%
Free Cash Flow to Firm to Interest Expense	99.52	81.29	78.01	59.32	27.13	-25.22	-266.04	-337.47	-545.14	-760.23
Operating Cash Flow to Interest Expense	0.93	7.40	2.88	7.96	-3.67	1.52	-3.99	-6.06	-0.74	-28.25
Operating Cash Flow Less CapEx to Interest Expense	4.16	4.09	0.57	5.05	-3.67	-1.49	-6.87	-8.63	-4.19	-33.52
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.64	0.60	0.60	0.64	0.63	0.71	1.09	0.95	0.82	0.68
Accounts Receivable Turnover	4.38	4.13	4.05	4.27	4.21	4.49	5.97	5.19	4.25	3.64
Inventory Turnover	1.88	1.79	1.83	1.99	2.07	2.33	3.13	2.84	2.46	2.01
Fixed Asset Turnover	8.52	6.81	7.59	8.80	10.25	11.49	15.97	14.37	12.32	10.20
Accounts Payable Turnover	3.55	3.65	3.90	4.10	4.07	4.33	6.07	5.12	4.11	3.08
Days Sales Outstanding (DSO)	83.41	88.41	90.21	85.52	86.74	81.21	61.15	70.33	85.82	100.15
Days Inventory Outstanding (DIO)	194.58	203.95	199.86	183.64	176.64	156.76	116.73	128.51	148.30	181.25
Days Payable Outstanding (DPO)	102.70	100.06	93.68	88.95	89.60	84.31	60.14	71.26	88.91	118.44
Cash Conversion Cycle (CCC)	175.29	192.30	196.39	180.21	173.78	153.66	117.75	127.58	145.21	162.96
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	663	731	736	794	1,158	1,210	1,301	1,305	1,305	1,159
Invested Capital Turnover	1.01	0.93	0.93	1.00	0.93	1.08	1.74	1.56	1.33	1.21
Increase / (Decrease) in Invested Capital	-495	-478	-566	-511	-147	51	1,050	1,074	1,073	957
Enterprise Value (EV)	1,189	987	931	959	1,131	1,172	1,338	1,705	1,752	1,757
Market Capitalization	660	470	416	430	578	648	819	1,221	1,421	1,470
Book Value per Share	$1.70	$2.70	$2.78	$3.36	$7.69	$8.70	$9.95	$10.43	$12.54	$11.25
Tangible Book Value per Share	($2.57)	($1.63)	($1.59)	($1.21)	($1.09)	$0.22	$0.50	$0.70	$2.46	$1.55
Total Capital	773	851	877	930	1,273	1,351	1,460	1,475	1,447	1,321
Total Debt	216	215	217	223	226	234	232	212	143	136
Total Long-Term Debt	216	215	217	223	226	224	221	201	83	81
Net Debt	106	96	76	87	112	93	73	42	1.69	-26
Capital Expenditures (CapEx)	-16	19	16	13	0.01	14	12	8.44	6.93	6.86
Debt-free, Cash-free Net Working Capital (DFCFNWC)	239	246	267	307	372	389	424	415	405	353
Debt-free Net Working Capital (DFNWC)	317	334	379	414	459	505	551	552	514	465
Net Working Capital (NWC)	317	334	379	414	459	494	540	542	454	410
Net Nonoperating Expense (NNE)	33	12	20	84	81	13	4.98	5.64	-58	11
Net Nonoperating Obligations (NNO)	106	96	76	87	112	93	73	42	1.69	-26
Total Depreciation and Amortization (D&A)	26	23	23	24	22	24	34	34	33	28
Debt-free, Cash-free Net Working Capital to Revenue	25.94%	27.13%	28.15%	29.24%	32.34%	30.33%	31.39%	34.72%	39.52%	42.93%
Debt-free Net Working Capital to Revenue	34.35%	36.90%	39.85%	39.40%	39.92%	39.38%	40.83%	46.23%	50.15%	56.55%
Net Working Capital to Revenue	34.35%	36.90%	39.85%	39.40%	39.92%	38.56%	40.02%	45.33%	44.25%	49.95%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.56)	($0.36)	($0.63)	($4.12)	($1.38)	$0.00	$0.00	$0.00	$0.52	$0.00
Adjusted Weighted Average Basic Shares Outstanding	78.93M	78.95M	78.85M	78.81M	78.42M	0.00	0.00	0.00	62.35M	0.00
Adjusted Diluted Earnings per Share	($0.56)	($0.36)	($0.63)	($4.12)	($1.38)	$0.00	$0.00	$0.00	$0.52	$0.00
Adjusted Weighted Average Diluted Shares Outstanding	78.93M	78.95M	78.85M	78.81M	78.42M	0.00	0.00	0.00	62.35M	0.00
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	79.86M	79.25M	79.23M	79.12M	79.12M	0.00	0.00	0.00	78.63M	0.00
Normalized Net Operating Profit after Tax (NOPAT)	-11	-17	-27	-33	-26	-36	-31	-35	-23	-22
Normalized NOPAT Margin	-4.36%	-7.37%	-11.87%	-14.58%	-11.68%	-13.22%	-9.54%	-10.75%	-6.42%	-6.38%
Pre Tax Income Margin	-7.66%	-12.50%	-19.86%	-150.47%	-18.92%	-33.86%	-13.62%	-15.98%	-6.29%	-14.43%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-2.97	-4.37	-5.68	-73.59	-9.25	-19.25	-10.37	-15.22	-10.60	-34.94
NOPAT to Interest Expense	-2.18	-2.96	-3.88	-51.71	-5.93	-13.87	-7.69	-10.59	-11.45	-25.80
EBIT Less CapEx to Interest Expense	0.26	-7.69	-7.99	-76.50	-9.25	-22.26	-13.24	-17.79	-14.05	-40.20
NOPAT Less CapEx to Interest Expense	1.05	-6.27	-6.20	-54.62	-5.93	-16.88	-10.56	-13.16	-14.90	-31.06
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	-1.28%	-2.62%	-8.19%	-24.08%	-32.53%	-52.94%	-257.48%	-42.19%
Augmented Payout Ratio	-3.94%	-3.45%	-1.29%	-2.63%	-8.66%	-24.08%	-32.53%	-52.94%	-257.48%	-42.19%

Frequently Asked Questions About ADTRAN's Financials

When does ADTRAN's fiscal year end?

According to the most recent income statement we have on file, ADTRAN's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has ADTRAN's net income changed over the last 2 years?

ADTRAN's net income appears to be on an upward trend, with a most recent value of -$441.05 million in 2024, rising from -$8.89 million in 2022. The previous period was -$259.34 million in 2023. View ADTRAN's forecast to see where analysts expect ADTRAN to go next.

What is ADTRAN's operating income?

ADTRAN's total operating income in 2024 was -$417.10 million, based on the following breakdown:

Total Gross Profit: $330.31 million
Total Operating Expenses: $747.42 million

How has ADTRAN revenue changed over the last 2 years?

Over the last 2 years, ADTRAN's total revenue changed from $1.03 billion in 2022 to $922.72 million in 2024, a change of -10.0%.

How much debt does ADTRAN have?

ADTRAN's total liabilities were at $622.02 million at the end of 2024, a 2.1% decrease from 2023, and a 2.8% decrease since 2022.

How much cash does ADTRAN have?

In the past 2 years, ADTRAN's cash and equivalents has ranged from $77.57 million in 2024 to $108.64 million in 2022, and is currently $77.57 million as of their latest financial filing in 2024.

How has ADTRAN's book value per share changed over the last 2 years?

Over the last 2 years, ADTRAN's book value per share changed from 12.54 in 2022 to 1.70 in 2024, a change of -86.5%.

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This page (NASDAQ:ADTN) was last updated on 6/1/2025 by MarketBeat.com Staff

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ADTRAN (ADTN) Financials

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ADTRAN (ADTN) Financials

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