Who are Adtran Networks's main competitors?

Named competitors: Ciena (CIEN), Calix (CALX), Nokia (NOKIA.HE). The cockpit's measured peer set (industry) also includes Hubei Jiuzhiyang Infrared System (300516.SZ), Vistance Networks (VISN), Noritsu Koki (7744.T), Arlo Technologies (ARLO), Zhejiang Chengchang Technology (001270.SZ), Hwa Create (300045.SZ).

How has Adtran Networks stock performed?

Over six months to 6 Nov 2026 the shares returned -9.6% against -24.5% for the median peer; over one year -3.7%.

← CockpitCompetitor Analysis › ADV.DE Adtran Networks SEOpen in the cockpit ↗

Adtran Networks SEADV.DECompetitor analysis, valuation and peers

Germany · EUR·Information Technology›Telecommunications Equipment

German-American maker of optical networking and broadband access equipment used by telecom carriers to deliver fiber and network services.

≈ A German/US Ciena/Calix for optical and broadband networking equipmentMomentum weak 31

Competitor Analysis ▸ Charts Open in the cockpit

Mkt cap

$1.21B

US dollars, full cap

Free float

29%

of shares outstanding

$/day

$267,747

20-day average traded

Fwd P/E

113.3×

forward earnings

ROIC−WACC

-7.5 pp

WACC 5.0%

Hurdle

+0 pp

Req g minus delivered

Close · EUR€20.80

1D-2.8%

1W-5.9%

1M-4.6%

3M-10.7%

6M-9.6%

YTD-4.6%

1Y-3.7%

ATR %2.0%

52w lowhigh11.5% off high

What Adtran Networks does

German-American maker of optical networking and broadband access equipment used by telecom carriers to deliver fiber and network services.

Sells optical networking and timing equipment to carriers and enterprises, with software and support contracts attached, so revenue follows carrier network spending. Since 2022 it has been majority-owned by the US company Adtran Holdings, so it is a German operating subsidiary rather than an independent group.

In one line: A German/US Ciena/Calix for optical and broadband networking equipment.

Products and services

Optical transport networking equipment
Broadband access equipment (fiber/DSL)
Network synchronization/timing systems

Customers

Telecom carriers
Internet service providers
Enterprises (private optical networks)

Where it sits in the supply chain

Information technology
Telecom equipment
Optical networking & broadband access…

What could go right

Fiber broadband build-out demand
Data center interconnect growth

What could go wrong

Telecom carrier capex cyclicality
Price competition from Chinese/larger vendors

Moat: narrow (customer qualification, IP / patents, installed base). Qualified telecom-carrier equipment supplier with niche optical-timing IP, but competes with much larger network-equipment vendors.

Headquarters: Meiningen, Germany · Founded: 1994 · Employees: 2,174

Named competitors

Ciena CIEN
Calix CALX
Nokia NOKIA.HE

Adtran Networks at a glance

Size Adtran Networks (ADV.DE) is a Germany Information Technology company (Telecommunications Equipment) with a market value of $1.21B, the 134th largest of 205 Germany companies the cockpit tracks. Shares closed at €20.80 on 6 Nov 2026.

Performance Over six months the shares fell 9.6%, against -24.5% for the median peer and +2.6% for the Germany market (cap-weighted) — 4th highest of 20 in its peer set.

Growth Revenue grew 14.5% over the last twelve months (peer median +15.0%); the operating margin is -2.8% (peer median 4.4%).

Valuation It trades at 113.3× forward earnings against a peer median of 14.2× (most expensive of 13).

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 -3%, so the hurdle is +0 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 7.5 points below its cost of capital (5.0% WACC).

Relative performance

Six months, rebased to 100: Adtran Networks against the median of its 20 peers (local-currency closes).

Adtran Networks financials

Reported figures in EUR; fiscal year ends 2025-12-31. TTM = trailing twelve months.
	TTM	FY2025	FY2024	FY2023	FY2022
Revenue	€509M	€482M	€438M	€614M	€712M
Revenue growth	—	+10%	-29%	-14%	—
Gross profit	€174M	€163M	€156M	€217M	€236M
EBITDA	€60.1M	€52.5M	€39.8M	€85.3M	€99.0M
Net income	€6.61M	-€21.9M	-€62.7M	-€12.2M	€18.1M
Free cash flow	€62.8M	€67.6M	€48.1M	€23.1M	-€4.26M
Capital expenditure	€68.6M	€66.2M	€62.5M	€68.2M	€73.2M
Total debt	n/a	€45.0M	€97.2M	€96.9M	€77.6M

Quarterly statements and history in the cockpit →

Adtran Networks competitor charts

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.

Performance: 6-month against 1-month return

Up and to the right = strong over both horizons. Adtran Networks is the large dot.

Fundamentals: revenue growth against valuation

Further right = faster growth; higher = more expensive. The dashed lines are the peer medians. Adtran Networks is the large dot.

Capital: growth delivered against growth the price implies

Above the diagonal = the price needs more growth than the company has been delivering; below = the price already allows for a slowdown. Adtran Networks is the large dot.

Adtran Networks competitors and peer comparison

Head to head with its named competitors (ADV.DE vs CIEN vs CALX vs NOKIA.HE)
Company	Market cap	6M return	Revenue growth	Op. margin	Forward P/E	Req g
Adtran Networks ADV.DE	$1.21B	-10%	+15%	-3%	113.3×	-2.7%
Ciena CIEN	$34.5B	-56%	+33%	14%	23.4×	29.0%
Calix CALX	$1.89B	-29%	+23%	5%	13.9×	23.1%
Nokia NOKIA.HE	$44.3B	-37%	+4%	14%	19.2×	17.4%

How Adtran Networks compares with its peers

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.

Adtran Networks against its 20 peers (data as of 6 Nov 2026)
Measure	ADV.DE	Peer median	Rank in peer set
1-month return	-4.6%	-5.8%	10th highest of 20
6-month return	-9.6%	-24.5%	4th highest of 20
Distance from 52-week high	-11.5%	-46.2%	highest of 20
Revenue growth (TTM)	+14.5%	+15.0%	11th highest of 21
Operating margin	-2.8%	4.4%	8th lowest of 21
Forward P/E	113.3×	14.2×	most expensive of 13
Growth the price implies (Req g, 7 yrs)	-2.7%	12.2%	3rd least demanding of 11
Growth delivered (Del g)	-3.1%	+9.8%	2nd lowest of 11
Hurdle (Req g minus delivered)	+0.4 pp	+7.6 pp	5th least demanding of 11
ROIC minus cost of capital	-7.5 pp	-2.6 pp	8th lowest of 21
EV / EBITDA	18.1×	9.9×	3rd most expensive of 7
Net debt / EBITDA	0.1×	-0.5×	3rd most indebted of 8

Peer table

Peer set: Industry: the same industry and sector in any market, nearest in size
Company	Market	Market cap	6M return	Revenue growth	Op. margin	Forward P/E	Req g	Delivered g
Adtran Networks ADV.DE	Germany	$1.21B	-10%	+15%	-3%	113.3×	-2.7%	-3.1%
Hubei Jiuzhiyang Infrared System 300516.SZ	China	$1.18B	-15%	-7%	-8%	n/a	20.4%	-1.0%
Vistance Networks VISN	United States	$1.27B	-35%	-38%	12%	8.7×	-4.6%	-25.5%
Noritsu Koki 7744.T	Japan	$1.31B	-7%	+33%	20%	9.9×	-6.9%	+16.8%
Arlo Technologies ARLO	United States	$1.33B	-19%	+16%	3%	13.8×	32.6%	+8.2%
Zhejiang Chengchang Technology 001270.SZ	China	$1.34B	-37%	-1%	27%	100.9×	44.0%	+18.3%
Hwa Create 300045.SZ	China	$1.35B	-39%	-7%	-20%	n/a	n/a	n/a
Chengdu CORPRO Technology 300101.SZ	China	$1.07B	-35%	-25%	-18%	14.7×	n/a	n/a
Shenzhen Infinova 002528.SZ	China	$1.06B	+23%	-29%	-77%	n/a	n/a	n/a
Tozed Kangwei Tech 301718.SZ	China	$1.05B	n/a	+43%	5%	n/a	n/a	n/a
Flaircomm Microelectronics 301600.SZ	China	$1.04B	-35%	+19%	9%	32.0×	27.2%	+29.1%
Harmonic HLIT	United States	$1.04B	-26%	-21%	15%	11.6×	10.0%	-1.0%
Tianjin 712 Communication & Broadcasting 603712.SS	China	$1.41B	-25%	+27%	-17%	31.1×	n/a	n/a
Hanwha Vision 489790.KS	South Korea	$1.41B	-56%	+20%	11%	10.4×	n/a	n/a
Shenzhen Gongjin Electronics 603118.SS	China	$1.42B	-18%	+21%	2%	n/a	n/a	n/a
Furuno Electric 6814.T	Japan	$1.42B	-1%	+14%	13%	13.0×	7.4%	+11.3%
Sumavision Technologies 300079.SZ	China	$1.01B	-14%	-6%	-8%	n/a	n/a	n/a
Invisio IVSO.ST	Sweden	$1.00B	-15%	+24%	18%	39.8×	13.2%	+26.7%
CITIC Guoan Information Industry 000839.SZ	China	$1.45B	-17%	+14%	7%	n/a	11.3%	+7.0%
Nanjing Panda Electronics 0553.HK	Hong Kong	$999M	-42%	+36%	-7%	n/a	n/a	n/a
Huizhou Speed Wireless Technology 300322.SZ	China	$991M	-52%	+25%	3%	62.4×	n/a	n/a

Questions

Who are Adtran Networks's main competitors?: Named competitors: Ciena (CIEN), Calix (CALX), Nokia (NOKIA.HE). The cockpit's measured peer set (industry) also includes Hubei Jiuzhiyang Infrared System (300516.SZ), Vistance Networks (VISN), Noritsu Koki (7744.T), Arlo Technologies (ARLO), Zhejiang Chengchang Technology (001270.SZ), Hwa Create (300045.SZ).
Is Adtran Networks expensive compared with its peers?: On forward p/e it trades at 113.3× against a peer median of 14.2×, most expensive of 13 in its peer set. For today's price to make sense, revenue must grow about -3% a year for seven years (Req g). Recent delivered growth is -3%, so the hurdle is +0 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.
How has Adtran Networks stock performed?: Over six months to 6 Nov 2026 the shares returned -9.6% against -24.5% for the median peer; over one year -3.7%.