ADTN
ADTRAN Holdings, Inc.
ADTN lost money over the past year, so it has no meaningful PE right now. Analysts expect earnings to hold roughly steady, though they disagree widely on how much.
ADTN Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Stable | |
| Under pressure | |
| Weak |
ADTN's revenue and profitability are currently stable, but its cash flow and balance sheet are under pressure.
ADTN PE Valuation
ADTN has no meaningful PE right now: it lost money over the past year.
ADTN Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Stable | |
| Stable | |
| Weakening | |
| Limited | |
| Low |
Analysts expect ADTN's profitability to weaken, with its earnings and revenue holding steady. However, they disagree widely on these estimates.
ADTN Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.31 | — |
| Q3 2026 | -$0.26 | +$0.82 |
| Q2 2026 | -$0.28 | +$1.04 |
| Q1 2026 | -$0.39 | +$1.32 |
| Q4 2025 | -$0.52 | +$5.17 |
| Q3 2025 | -$1.08 | +$5.43 |
| Q2 2025 | -$1.32 | +$5.83 |
| Q1 2025 | -$1.71 | +$5.31 |
| Q4 2024 | -$5.69 | -$2.28 |
ADTN is still losing money, but far less than before: $0.26 per share over the past year, against $7.15 at its worst in mid-2024.
ADTN Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $281.2M | +0.6% |
| Q2 2026 | $281.1M | +6.1% |
| Q1 2026 | $286.1M | +15% |
| Q4 2025 | $291.6M | +20% |
| Q3 2025 | $279.4M | +23% |
| Q2 2025 | $265.1M | +17% |
| Q1 2025 | $247.7M | +9.5% |
| Q4 2024 | $242.9M | +7.7% |
ADTN's revenue has grown year over year for eight quarters in a row: $281M last quarter, about level with the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -0.3% | +0.7 points |
| Q2 2026 | -3.6% | +1.4 points |
| Q1 2026 | 2.2% | +3.8 points |
| Q4 2025 | 1.5% | +8.4 points |
| Q3 2025 | -1% | +9.5 points |
| Q2 2025 | -5% | +12 points |
| Q1 2025 | -1.6% | +149 points |
| Q4 2024 | -6.9% | +9.8 points |
ADTN's operating margin was −0.3% last quarter, up 0.7 points from the same quarter a year ago.
ADTN Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$30.2M | -819% |
| Q2 2026 | $17M | -38% |
| Q1 2026 | $5.2M | -86% |
| Q4 2025 | $30.6M | +$31.5M |
| Q3 2025 | $4.2M | -82% |
| Q2 2025 | $27.5M | +604% |
| Q1 2025 | $35.8M | +54% |
| Q4 2024 | -$895K | +$24.8M |
ADTN usually generates cash, though not every quarter: the latest was −$30M, but it generated $22M over the past year.
ADTN Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.3% | +274K shares |
| 1 year | +1.8% | +1.4M shares |
| 3 years | +3.6% | +2.8M shares |
| 5 years | +64% | +31.8M shares |
| Available history | +70% | +33.4M shares |
ADTN has 81M diluted shares, up 1.8% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2019 | — |
ADTN Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 4.5x | High |
| Q2 2026 | 2.6x | Moderate |
| Q1 2026 | 2.6x | Moderate |
| Q4 2025 | 3.2x | Elevated |
| Q3 2025 | 6.5x | High |
| Q2 2025 | 16.1x | High |
| Q1 2025 | 39.3x | High |
| Q2 2022 | -7.4x | Net Cash |
ADTN's net debt is about 4.5 years of its operating earnings (EBITDA), down from 6.5 years a year ago.
ADTN Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 31.6 | Neutral |
| Stochastic | 9.6 | Oversold |
ADTN's weekly RSI is 32 (neutral) and its Stochastic is 10 (oversold).
ADTN PE vs Technology Sector
| Metric | ADTN | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 28x | — |
ADTN has no meaningful PE right now: it lost money over the past year.
ADTN Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $6.22 | 22% below |
| 20 week MA | $7.96 | 39% below |
| 50 week MA | $10.5 | 54% below |
| 100 week MA | $9.73 | 50% below |
| 200 week MA | $8.95 | 46% below |
ADTN is in a downtrend: it's below all five of its weekly moving averages, and 46% below its 200-week average.
ADTN Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $9.74 | $15.0 | +54% |
| 2021 | $15.0 | $22.0 | +47% |
| 2022 | $22.0 | $18.8 | -15% |
| 2023 | $18.8 | $7.34 | -61% |
| 2024 | $7.34 | $8.21 | +12% |
| 2025 | $8.21 | $8.75 | +6.6% |
| 2026 YTD | $8.75 | $4.86 | -44% |
ADTN is down 44% so far in 2026, after finishing higher in four of the previous six years.