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US-based maker of broadband access, optical networking and fiber equipment for telecom carriers, utilities and enterprises.
US-based maker of broadband access, optical networking and fiber equipment for telecom carriers, utilities and enterprises.
Sells network equipment to carriers, utilities and enterprises in large project orders plus support and software services, so sales follow carriers' broadband and fiber spending. The 2022 merger with Germany's Adva added optical transport to its core access-equipment business.
Moat: narrow (switching costs, installed base, customer qualification). Long-tenured carrier relationships and installed base, but scale is small versus Nokia/Ciena/Huawei in optical and access gear.
Headquarters: Huntsville, Alabama, US · Founded: 1985 · Employees: 3,338
Size ADTRAN (ADTN) is a United States Information Technology company (Computer Peripherals) with a market value of $329M, the 3034th largest of 3,117 United States companies the cockpit tracks. Shares closed at $4.04 on 6 Nov 2026.
Performance Over six months the shares fell 73.0%, against -16.2% for the median peer and -1.1% for the United States market (cap-weighted) — lowest of 21 in its peer set.
Growth Revenue grew 10.1% over the last twelve months (peer median +5.2%); the operating margin is 0.0% (peer median 5.7%).
Valuation It trades at 12.9× forward earnings against a peer median of 12.5× (5th cheapest of 9).
Capital Return on invested capital runs 9.1 points below its cost of capital (9.2% WACC).
Credit ADTRAN has 1 bond outstanding ($201M).
Short interest Short interest is 15.4% of the free float (15 Oct 2026).
Next results Next results expected around 3 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $1.14B | $1.08B | $923M | $1.15B | $1.03B |
| Revenue growth | — | +17% | -20% | +12% | — |
| Gross profit | $514M | $415M | $330M | $328M | $323M |
| EBITDA | $101M | $76.7M | -$3.50M | -$44.7M | $31.9M |
| Net income | -$22.1M | -$41.6M | -$457M | -$269M | -$2.04M |
| Free cash flow | $22.5M | $98.0M | $69.1M | -$79.4M | -$61.3M |
| Capital expenditure | $67.8M | $69.3M | $65.2M | $45.8M | $17.1M |
| Total debt | $301M | $252M | $223M | $234M | $151M |
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 |
|---|---|---|---|---|---|---|
| ADTRAN ADTN | $329M | -73% | +10% | 0% | 12.9× | n/a |
| NOK NOK | $47.0B | -40% | +10% | 14% | 16.6× | 13.5% |
| Ciena CIEN | $34.5B | -56% | +33% | 14% | 23.4× | 29.0% |
| Calix CALX | $1.89B | -29% | +23% | 5% | 13.9× | 23.1% |
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 | ADTN | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -46.1% | -12.5% | lowest of 21 |
| 6-month return | -73.0% | -16.2% | lowest of 21 |
| Distance from 52-week high | -79.8% | -37.4% | lowest of 21 |
| Revenue growth (TTM) | +10.1% | +5.2% | 7th highest of 21 |
| Operating margin | 0.0% | 5.7% | 5th lowest of 21 |
| Forward P/E | 12.9× | 12.5× | 5th cheapest of 9 |
| ROIC minus cost of capital | -9.1 pp | -2.0 pp | 2nd lowest of 21 |
| EV / EBITDA | 8.5× | 9.1× | 6th cheapest of 13 |
| Net debt / EBITDA | 1.9× | -1.7× | 5th most indebted of 16 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| ADTRAN ADTN | United States | $329M | -73% | +10% | 0% | 12.9× | n/a | n/a |
| Shenzhen Zhongheng Huafa 000020.SZ | China | $332M | -31% | -25% | 5% | n/a | 26.4% | +4.4% |
| Winner Technology 300609.SZ | China | $341M | -53% | -6% | -41% | n/a | n/a | n/a |
| G.tech Technology 301503.SZ | China | $313M | -27% | +28% | 4% | n/a | n/a | n/a |
| Gigastorage 2406.TW | Taiwan | $310M | -11% | +83% | 2% | n/a | n/a | n/a |
| TienPin United Enterprise 6199.TWO | Taiwan | $305M | +78% | +577% | 30% | n/a | n/a | n/a |
| Sysgration 5309.TWO | Taiwan | $360M | -19% | +9% | -4% | 44.3× | n/a | n/a |
| Truly International 0732.HK | Hong Kong | $300M | -21% | -11% | 4% | n/a | -14.9% | -5.7% |
| D-Link 2332.TW | Taiwan | $297M | +15% | +3% | -1% | n/a | n/a | n/a |
| Argosy Research 3217.TWO | Taiwan | $294M | -38% | +2% | 30% | 8.5× | -8.6% | +9.8% |
| Gallant Precision Machining 5443.TWO | Taiwan | $374M | -44% | +12% | 12% | n/a | 12.4% | +6.2% |
| Aten International 6277.TW | Taiwan | $276M | +7% | +6% | 14% | 14.3× | -7.6% | +0.4% |
| IEI Integration 3022.TW | Taiwan | $405M | +1% | +3% | 6% | 10.8× | n/a | n/a |
| Quanta Storage 6188.TWO | Taiwan | $409M | -45% | +3% | 7% | n/a | n/a | n/a |
| Riso Kagaku 6413.T | Japan | $418M | +3% | +5% | 6% | 16.2× | -2.7% | +2.9% |
| Shenzhen Emperor Technology 300546.SZ | China | $434M | -22% | +8% | 3% | n/a | 38.7% | +7.9% |
| Alpha Networks 3380.TW | Taiwan | $437M | -23% | +11% | 1% | 26.9× | n/a | n/a |
| Buffalo 6676.T | Japan | $458M | +23% | -19% | 8% | 9.3× | -10.5% | -2.0% |
| Surfilter Network Technology 300311.SZ | China | $488M | -11% | +15% | 7% | n/a | n/a | n/a |
| Huasu 000509.SZ | China | $502M | -13% | -23% | -2% | n/a | n/a | n/a |
| Sato 6287.T | Japan | $508M | +19% | +10% | 7% | 9.9× | -11.3% | +8.4% |
ADTRAN has 1 bond outstanding with $201M face value.