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Licenses media and semiconductor patents (content search/recommendation, memory, chip packaging) to TV and chip makers.
Licenses media and semiconductor patents (content search/recommendation, memory, chip packaging) to TV and chip makers.
Earns royalties and licence fees under multi-year agreements with pay-TV and streaming companies, device makers and chip packagers; a licence typically renews when it expires, though sometimes after a dispute. Became a stand-alone company in 2022 when Xperi split into two.
In one line: A media/chip patent-licensing peer of InterDigital.
Moat: narrow (IP / patents). About 13,750 patents on content search/recommendation and chip packaging give it broad licensing leverage.
Headquarters: San Jose, California, US · Founded: 2020 · Employees: 150
Size Adeia (ADEA) is a United States Information Technology company (Packaged Software) with a market value of $1.71B, the 1897th largest of 3,117 United States companies the cockpit tracks. Shares closed at $15.50 on 6 Nov 2026.
Performance Over six months the shares fell 47.4%, against -4.7% for the median peer and -1.1% for the United States market (cap-weighted) — lowest of 20 in its peer set.
Growth Revenue grew 22.1% over the last twelve months (peer median +17.3%); the operating margin is 44.2% (peer median 9.2%).
Valuation It trades at 11.8× forward earnings against a peer median of 30.3× (4th cheapest of 19).
Price implies For today's price to make sense, revenue must grow about 3% a year for seven years (Req g). Recent delivered growth is -13%, so the hurdle is +16 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 10.5 points above its cost of capital (11.2% WACC).
Backlog Backlog (remaining performance obligations) was $492M at 30 Sep 2026, up 33% on a year earlier — 1.1 years of trailing revenue. Backlog detail →
Short interest Short interest is 6.4% of the free float (15 Oct 2026).
Next results Next results expected around 23 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $464M | $443M | $376M | $389M | $439M |
| Revenue growth | — | +18% | -3% | -11% | — |
| Gross profit | n/a | $385M | $303M | $294M | $325M |
| EBITDA | $269M | $258M | $215M | $241M | $276M |
| Net income | $116M | $111M | $64.6M | $67.4M | -$296M |
| Free cash flow | $176M | $156M | $211M | $149M | $170M |
| Capital expenditure | $18.5M | $8.76M | $22.3M | $6.34M | $12.9M |
| Total debt | $389M | $428M | $485M | $596M | $736M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Adeia ADEA | $1.71B | -47% | +22% | 44% | 11.8× | 2.7% |
| InterDigital IDCC | $7.35B | +2% | -12% | 45% | 41.4× | 13.4% |
| Dolby Laboratories DLB | $6.07B | +11% | +1% | 19% | 14.3× | 10.0% |
| RMBS RMBS | $7.98B | -42% | +17% | 37% | 19.9× | 24.5% |
| Xperi XPER | n/a | -29% | n/a | n/a | n/a | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | ADEA | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -35.7% | +5.6% | lowest of 21 |
| 6-month return | -47.4% | -4.7% | lowest of 20 |
| Distance from 52-week high | -54.8% | -26.6% | 3rd lowest of 21 |
| Revenue growth (TTM) | +22.1% | +17.3% | 9th highest of 21 |
| Operating margin | 44.2% | 9.2% | 2nd highest of 21 |
| Forward P/E | 11.8× | 30.3× | 4th cheapest of 19 |
| Growth the price implies (Req g, 7 yrs) | 2.7% | 15.8% | 6th least demanding of 14 |
| Growth delivered (Del g) | -13.0% | +20.2% | lowest of 13 |
| Hurdle (Req g minus delivered) | +15.8 pp | -4.2 pp | 3rd most demanding of 13 |
| ROIC minus cost of capital | +10.5 pp | +1.4 pp | 3rd highest of 15 |
| EV / EBITDA | 7.3× | 21.0× | 2nd cheapest of 11 |
| Net debt / EBITDA | 1.0× | -1.1× | 4th most indebted of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Adeia ADEA | United States | $1.71B | -47% | +22% | 44% | 11.8× | 2.7% | -13.0% |
| TRS Information Technology 300229.SZ | China | $1.71B | -27% | -23% | -76% | n/a | n/a | n/a |
| Hacksaw HACK.ST | Sweden | $1.71B | -22% | +21% | 82% | 8.1× | -10.2% | +85.9% |
| Hangzhou Shunwang Technology 300113.SZ | China | $1.70B | -32% | -36% | 26% | 27.1× | 26.2% | +11.0% |
| freee K.K 4478.T | Japan | $1.72B | +100% | +28% | 3% | 79.1× | n/a | n/a |
| Lyntris LYNX | United States | $1.69B | n/a | +16% | 9% | n/a | n/a | n/a |
| Kfin Technologies KFINTECH.NS | India | $1.67B | -1% | +27% | 32% | 40.6× | n/a | n/a |
| Wuhan Dameng Database 688692.SS | China | $1.75B | -28% | +28% | 28% | 33.4× | 12.7% | +23.2% |
| Beijing Haizhi Technology 2706.HK | Hong Kong | $1.75B | -31% | +23% | -9% | 208.5× | n/a | n/a |
| Sansan 4443.T | Japan | $1.67B | +65% | +22% | 18% | 27.4× | 20.3% | +27.1% |
| Wealthfront WLTH | United States | $1.66B | -7% | +18% | -41% | 26.7× | -4.2% | n/a |
| Sinosoft 603927.SS | China | $1.77B | -14% | -24% | 2% | 44.3× | 23.0% | +0.9% |
| Progress Software PRGS | United States | $1.78B | +46% | +6% | 19% | 6.7× | 1.8% | +17.2% |
| Nayax NYAX | United States | $1.78B | -34% | +28% | 5% | 59.1× | 26.9% | +38.7% |
| Shadowfax Technologies SHADOWFAX.NS | India | $1.79B | +70% | +69% | 10% | 60.0× | 47.0% | +43.7% |
| Donnelley Financial Solutions DFIN | United States | $1.63B | +56% | +5% | 20% | 12.3× | -4.7% | -3.0% |
| Newborn Town 9911.HK | Hong Kong | $1.63B | -5% | +36% | 12% | 8.8× | -3.5% | +41.3% |
| Nazara Technologies NAZARA.NS | India | $1.62B | +50% | -2% | 3% | 138.0× | n/a | n/a |
| YOOZOO Interactive 002174.SZ | China | $1.61B | +9% | -1% | -20% | 24.7× | n/a | n/a |
| Weaver Network Technology 603039.SS | China | $1.59B | -8% | +2% | 12% | 29.1× | 15.8% | +9.0% |
| Certara CERT | United States | $1.84B | +91% | +1% | 5% | 31.4× | 40.7% | +11.5% |
Adeia reported $492M of remaining performance obligations at 30 Sep 2026, up 33% from a year earlier and down 5% from the previous quarter. That is 1.1 years of trailing revenue already under contract. Book-to-bill last quarter: 0.66.