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ADTRAN NETWORKING SE (ADV.DE) Stock Fundamental Analysis

FRA:ADV - Deutsche Boerse Ag - DE0005103006 - Common Stock - Currency: EUR

20.8  +0.1 (+0.48%)

Fundamental Rating

3

Overall ADV gets a fundamental rating of 3 out of 10. We evaluated ADV against 23 industry peers in the Communications Equipment industry. The financial health of ADV is average, but there are quite some concerns on its profitability. ADV is valued expensive and it does not seem to be growing.


Dividend Valuation Growth Profitability Health

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2

1. Profitability

1.1 Basic Checks

ADV had negative earnings in the past year.
ADV had a positive operating cash flow in the past year.
In multiple years ADV reported negative net income over the last 5 years.
ADV had a positive operating cash flow in each of the past 5 years.
ADV.DE Yearly Net Income VS EBIT VS OCF VS FCFADV.DE Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 50M -50M 100M

1.2 Ratios

ADV has a Return On Assets of -9.36%. This is in the lower half of the industry: ADV underperforms 60.87% of its industry peers.
ADV has a Return On Equity of -16.15%. This is comparable to the rest of the industry: ADV outperforms 43.48% of its industry peers.
Industry RankSector Rank
ROA -9.36%
ROE -16.15%
ROIC N/A
ROA(3y)-2.8%
ROA(5y)1.1%
ROE(3y)-4.78%
ROE(5y)2.16%
ROIC(3y)N/A
ROIC(5y)N/A
ADV.DE Yearly ROA, ROE, ROICADV.DE Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10 -10

1.3 Margins

ADV's Gross Margin of 34.97% is on the low side compared to the rest of the industry. ADV is outperformed by 73.91% of its industry peers.
In the last couple of years the Gross Margin of ADV has remained more or less at the same level.
ADV does not have Profit Margin and Operating Margin available, so we won't be analyzing them here.
Industry RankSector Rank
OM N/A
PM (TTM) N/A
GM 34.97%
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-1.17%
GM growth 5Y0.4%
ADV.DE Yearly Profit, Operating, Gross MarginsADV.DE Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10 -10 20 30

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5

2. Health

2.1 Basic Checks

ADV does not have a ROIC to compare to the WACC, probably because it is not profitable.
ADV has about the same amout of shares outstanding than it did 1 year ago.
Compared to 5 years ago, ADV has more shares outstanding
Compared to 1 year ago, ADV has a worse debt to assets ratio.
ADV.DE Yearly Shares OutstandingADV.DE Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10M 20M 30M 40M 50M
ADV.DE Yearly Total Debt VS Total AssetsADV.DE Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M

2.2 Solvency

An Altman-Z score of 3.20 indicates that ADV is not in any danger for bankruptcy at the moment.
ADV has a Altman-Z score of 3.20. This is amongst the best in the industry. ADV outperforms 82.61% of its industry peers.
The Debt to FCF ratio of ADV is 176.76, which is on the high side as it means it would take ADV, 176.76 years of fcf income to pay off all of its debts.
With a Debt to FCF ratio value of 176.76, ADV is not doing good in the industry: 65.22% of the companies in the same industry are doing better.
A Debt/Equity ratio of 0.18 indicates that ADV is not too dependend on debt financing.
ADV has a Debt to Equity ratio of 0.18. This is in the better half of the industry: ADV outperforms 65.22% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.18
Debt/FCF 176.76
Altman-Z 3.2
ROIC/WACCN/A
WACC7.07%
ADV.DE Yearly LT Debt VS Equity VS FCFADV.DE Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 100M 200M 300M

2.3 Liquidity

ADV has a Current Ratio of 2.21. This indicates that ADV is financially healthy and has no problem in meeting its short term obligations.
ADV has a better Current ratio (2.21) than 73.91% of its industry peers.
A Quick Ratio of 1.66 indicates that ADV should not have too much problems paying its short term obligations.
The Quick ratio of ADV (1.66) is better than 78.26% of its industry peers.
Industry RankSector Rank
Current Ratio 2.21
Quick Ratio 1.66
ADV.DE Yearly Current Assets VS Current LiabilitesADV.DE Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M

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3

3. Growth

3.1 Past

ADV shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -412.12%.
Looking at the last year, ADV shows a very negative growth in Revenue. The Revenue has decreased by -28.61% in the last year.
The Revenue has been decreasing by -4.68% on average over the past years.
EPS 1Y (TTM)-412.12%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-331.72%
Revenue 1Y (TTM)-28.61%
Revenue growth 3Y-10.12%
Revenue growth 5Y-4.68%
Sales Q2Q%-28.61%

3.2 Future

ADV is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 78.89% yearly.
ADV is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 9.97% yearly.
EPS Next Y133.33%
EPS Next 2Y78.89%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year10%
Revenue Next 2Y9.97%
Revenue Next 3YN/A
Revenue Next 5YN/A

3.3 Evolution

When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
ADV.DE Yearly Revenue VS EstimatesADV.DE Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 200M 400M 600M
ADV.DE Yearly EPS VS EstimatesADV.DE Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 0 0.2 0.4 0.6 0.8 1

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1

4. Valuation

4.1 Price/Earnings Ratio

ADV reported negative earnings for the last year, which makes the Price/Earnings Ratio negative.
Based on the Price/Forward Earnings ratio of 411.88, the valuation of ADV can be described as expensive.
ADV's Price/Forward Earnings ratio is a bit more expensive when compared to the industry. ADV is more expensive than 65.22% of the companies in the same industry.
The average S&P500 Price/Forward Earnings ratio is at 22.19. ADV is valued rather expensively when compared to this.
Industry RankSector Rank
PE N/A
Fwd PE 411.88
ADV.DE Price Earnings VS Forward Price EarningsADV.DE Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 100 200 300 400

4.2 Price Multiples

The rest of the industry has a similar Enterprise Value to EBITDA ratio as ADV.
Based on the Price/Free Cash Flow ratio, ADV is valued a bit more expensive than the industry average as 65.22% of the companies are valued more cheaply.
Industry RankSector Rank
P/FCF 1968.43
EV/EBITDA 18.48
ADV.DE Per share dataADV.DE EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 2 4 6 8

4.3 Compensation for Growth

The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
ADV's earnings are expected to grow with 78.89% in the coming years. This may justify a more expensive valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y78.89%
EPS Next 3YN/A

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3

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 2.51%, ADV has a reasonable but not impressive dividend return.
Compared to an average industry Dividend Yield of 4.82, ADV pays a better dividend. On top of this ADV pays more dividend than 86.96% of the companies listed in the same industry.
ADV's Dividend Yield is comparable with the S&P500 average which is at 2.42.
Industry RankSector Rank
Dividend Yield 2.51%

5.2 History

Dividend Growth(5Y)N/A
Div Incr Years0
Div Non Decr Years0
ADV.DE Yearly Dividends per shareADV.DE Yearly Dividends per shareYearly Dividends per share 2025 0.1 0.2 0.3 0.4 0.5

5.3 Sustainability

DPN/A
EPS Next 2Y78.89%
EPS Next 3YN/A
ADV.DE Yearly Income VS Free CF VS DividendADV.DE Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20M -20M 40M -40M -60M

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ADTRAN NETWORKING SE

FRA:ADV (6/20/2025, 5:28:30 PM)

20.8

+0.1 (+0.48%)

Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupTechnology Hardware & Equipment
GICS IndustryCommunications Equipment
Earnings (Last)05-08 2025-05-08
Earnings (Next)08-07 2025-08-07
Inst Owners18.57%
Inst Owner ChangeN/A
Ins OwnersN/A
Ins Owner ChangeN/A
Market Cap1.08B
Analysts42.86
Price Target17.34 (-16.63%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 2.51%
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)0%
PT rev (3m)0%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)0%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)0%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE 411.88
P/S 2.47
P/FCF 1968.43
P/OCF 17.17
P/B 2.79
P/tB 5.55
EV/EBITDA 18.48
EPS(TTM)-1.2
EYN/A
EPS(NY)0.05
Fwd EY0.24%
FCF(TTM)0.01
FCFY0.05%
OCF(TTM)1.21
OCFY5.82%
SpS8.42
BVpS7.46
TBVpS3.75
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -9.36%
ROE -16.15%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) N/A
GM 34.97%
FCFM 0.13%
ROA(3y)-2.8%
ROA(5y)1.1%
ROE(3y)-4.78%
ROE(5y)2.16%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-1.17%
GM growth 5Y0.4%
F-Score3
Asset Turnover0.65
Health
Industry RankSector Rank
Debt/Equity 0.18
Debt/FCF 176.76
Debt/EBITDA 1.12
Cap/Depr 74.67%
Cap/Sales 14.27%
Interest Coverage N/A
Cash Conversion 101.09%
Profit Quality N/A
Current Ratio 2.21
Quick Ratio 1.66
Altman-Z 3.2
F-Score3
WACC7.07%
ROIC/WACCN/A
Cap/Depr(3y)91.49%
Cap/Depr(5y)91.1%
Cap/Sales(3y)11.89%
Cap/Sales(5y)11.33%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-412.12%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-331.72%
EPS Next Y133.33%
EPS Next 2Y78.89%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)-28.61%
Revenue growth 3Y-10.12%
Revenue growth 5Y-4.68%
Sales Q2Q%-28.61%
Revenue Next Year10%
Revenue Next 2Y9.97%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y-264.56%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year575%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y102.41%
FCF growth 3Y-78.95%
FCF growth 5Y-38.82%
OCF growth 1Y38.92%
OCF growth 3Y-20.03%
OCF growth 5Y-1.18%