ADTRAN Holdings (ADTN) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

ADTRAN Holdings

NasdaqGS•Technology•Communication Equipment

$7.16+0.07(0.01%)Market open

Market Cap

$574.73M

P/S

0.5x

P/B

4.4x

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.

How this company scores

WeakMetricSide Score: 51/100

Grade capped at D — Interest coverage below 1× (-0.1x) — earnings cannot cover interest. Strongest: Growth (21/25); weakest: Cash & Earnings Quality (8/25).

Profitability14/25

Growth21/25

Balance Sheet & Red Flags8/25

Cash & Earnings Quality8/25

Strengths

Growing revenueLong cash runwayConsistent free cash flowProfit converts from growth

Grade capped at D

Interest coverage below 1× (-0.1x) — earnings cannot cover interest.

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 160.2x5y range 160.2x – 160.2x

P/S · 0.5x5y range 0.3x – 0.9x

Currently near its 20-quarter median.

P/B · 4.4x5y range 0.3x – 7.1x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Red Flag

FCF consistently trails net income (avg -2.5x) — earnings may be inflated by non-cash items or aggressive accounting.

Price & Volume

Market Cap $574.73M

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $1.14B
Q. Revenue: $281.15M
TTM EBITDA: $96.03M
TTM Op. Income: $-2.01M
Q. Op. Income: $-10.07M
TTM Net Income: $-26.08M
Q. Net Income: $-10.90M
EPS: $-0.13
Shares Out.: $80.95M

$1.14B in TTM revenue grew 15.7% YoY, reaching $281.15M last quarter. TTM EBITDA of $96.03M and TTM operating income of $-2.01M show growth is flowing through to the bottom line. However, net income is negative at $26.08M — growth is not yet reaching the bottom line. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 37.0%
EBITDA Margin: 5.5%
Op. Margin: -3.6%
Net Margin: -3.9%

Op. margin of -3.6% is up 1.4% YoY — cost efficiency is improving. Net margin at -3.9% and gross margin of 37.0% show how much of each revenue dollar survives to profit. Over the past year, operating margin is up 29% — a weakening trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: N/A
P/S Ratio: 0.5x
P/B Ratio: 4.4x

P/S of 0.5x and P/B of 4.4x. P/S is low relative to typical market levels.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $1.15B
Cash: $79.24M
Long-Term Debt: $193.82M
Book Value: $129.50M
D/E Ratio: 1.5
Debt/EBITDA: 12.5

With $1.15B in assets and $193.82M in long-term debt, D/E is 1.5and book value is $129.50M — moderate leverage. Across the last 4 quarters, debt/equity has risen for 2 consecutive quarters — a weakening trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $25.91M
TTM Free Cash Flow: $56.92M
FCF Margin: 5.0%
FCF / Net Income: -2.2

TTM FCF of $56.92M on $25.91M in operating cash flow. The FCF / Net Income ratio of -2.2x means the business consumes cash — it is not yet self-funding. Across the last 8 quarters, free cash flow has fallen for 2 consecutive quarters — a weakening trend.