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ADTRAN INC (QH9.DE) Stock Fundamental Analysis

FRA:QH9 - Deutsche Boerse Ag - US00486H1059 - Common Stock - Currency: EUR

8.234  -0.07 (-0.8%)

Fundamental Rating

3

Overall QH9 gets a fundamental rating of 3 out of 10. We evaluated QH9 against 25 industry peers in the Communications Equipment industry. Both the profitability and financial health of QH9 have multiple concerns. QH9 is quite expensive at the moment. It does show a decent growth rate.


Dividend Valuation Growth Profitability Health

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0

1. Profitability

1.1 Basic Checks

In the past year QH9 has reported negative net income.
QH9 had negative earnings in 4 of the past 5 years.
The reported operating cash flow has been mixed in the past 5 years: QH9 reported negative operating cash flow in multiple years.
QH9.DE Yearly Net Income VS EBIT VS OCF VS FCFQH9.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 100M -100M -200M -300M -400M

1.2 Ratios

QH9 has a worse Return On Assets (-38.73%) than 92.00% of its industry peers.
QH9's Return On Equity of -332.73% is on the low side compared to the rest of the industry. QH9 is outperformed by 80.00% of its industry peers.
Industry RankSector Rank
ROA -38.73%
ROE -332.73%
ROIC N/A
ROA(3y)-18.05%
ROA(5y)-11.04%
ROE(3y)-126.55%
ROE(5y)-76.29%
ROIC(3y)N/A
ROIC(5y)N/A
QH9.DE Yearly ROA, ROE, ROICQH9.DE Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 -100 -200 -300

1.3 Margins

The Gross Margin of QH9 (37.60%) is worse than 68.00% of its industry peers.
In the last couple of years the Gross Margin of QH9 has declined.
QH9 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 37.6%
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-1.23%
GM growth 5Y-2.07%
QH9.DE Yearly Profit, Operating, Gross MarginsQH9.DE Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20 -20 40 -40

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2

2. Health

2.1 Basic Checks

QH9 does not have a ROIC to compare to the WACC, probably because it is not profitable.
QH9 has more shares outstanding than it did 1 year ago.
Compared to 5 years ago, QH9 has more shares outstanding
The debt/assets ratio for QH9 is higher compared to a year ago.
QH9.DE Yearly Shares OutstandingQH9.DE Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M
QH9.DE Yearly Total Debt VS Total AssetsQH9.DE Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B

2.2 Solvency

QH9 has an Altman-Z score of 0.67. This is a bad value and indicates that QH9 is not financially healthy and even has some risk of bankruptcy.
QH9's Altman-Z score of 0.67 is on the low side compared to the rest of the industry. QH9 is outperformed by 72.00% of its industry peers.
QH9 has a Debt/Equity ratio of 1.37. This is a high value indicating a heavy dependency on external financing.
QH9 has a worse Debt to Equity ratio (1.37) than 68.00% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.37
Debt/FCF N/A
Altman-Z 0.67
ROIC/WACCN/A
WACC10.37%
QH9.DE Yearly LT Debt VS Equity VS FCFQH9.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 200M 400M 600M 800M

2.3 Liquidity

QH9 has a Current Ratio of 2.02. This indicates that QH9 is financially healthy and has no problem in meeting its short term obligations.
QH9's Current ratio of 2.02 is in line compared to the rest of the industry. QH9 outperforms 60.00% of its industry peers.
A Quick Ratio of 1.18 indicates that QH9 should not have too much problems paying its short term obligations.
QH9 has a Quick ratio of 1.18. This is in the lower half of the industry: QH9 underperforms 60.00% of its industry peers.
Industry RankSector Rank
Current Ratio 2.02
Quick Ratio 1.18
QH9.DE Yearly Current Assets VS Current LiabilitesQH9.DE Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M

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5

3. Growth

3.1 Past

The Earnings Per Share has grown by an impressive 79.20% over the past year.
QH9 shows a very negative growth in Revenue. In the last year, the Revenue has decreased by -19.70%.
Measured over the past years, QH9 shows a quite strong growth in Revenue. The Revenue has been growing by 11.72% on average per year.
EPS 1Y (TTM)79.2%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%250%
Revenue 1Y (TTM)-19.7%
Revenue growth 3Y17.9%
Revenue growth 5Y11.72%
Sales Q2Q%9.54%

3.2 Future

Based on estimates for the next years, QH9 will show a very strong growth in Earnings Per Share. The EPS will grow by 57.52% on average per year.
QH9 is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 11.57% yearly.
EPS Next Y144.16%
EPS Next 2Y84.97%
EPS Next 3Y57.52%
EPS Next 5YN/A
Revenue Next Year12.07%
Revenue Next 2Y10.21%
Revenue Next 3Y11.57%
Revenue Next 5YN/A

3.3 Evolution

The Revenue growth rate is stable: in the next years the growth will be about the same than in the last years.
QH9.DE Yearly Revenue VS EstimatesQH9.DE Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 200M 400M 600M 800M 1B
QH9.DE Yearly EPS VS EstimatesQH9.DE Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 0 0.5 -0.5 -1

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3

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings Ratio is negative for QH9. In the last year negative earnings were reported.
With a Price/Forward Earnings ratio of 21.54, QH9 is valued on the expensive side.
Compared to the rest of the industry, the Price/Forward Earnings ratio of QH9 is on the same level as its industry peers.
QH9 is valuated rather cheaply when we compare the Price/Forward Earnings ratio to 37.13, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE N/A
Fwd PE 21.54
QH9.DE Price Earnings VS Forward Price EarningsQH9.DE Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 20 -20 40

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, QH9 is valued a bit more expensive than 64.00% of the companies in the same industry.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 118.17
QH9.DE Per share dataQH9.DE EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 5 10

4.3 Compensation for Growth

The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
QH9's earnings are expected to grow with 57.52% in the coming years. This may justify a more expensive valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y84.97%
EPS Next 3Y57.52%

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6

5. Dividend

5.1 Amount

QH9 has a Yearly Dividend Yield of 6.65%, which is a nice return.
Compared to an average industry Dividend Yield of 6.47, QH9 pays a better dividend. On top of this QH9 pays more dividend than 96.00% of the companies listed in the same industry.
Compared to an average S&P500 Dividend Yield of 2.32, QH9 pays a better dividend.
Industry RankSector Rank
Dividend Yield 6.65%

5.2 History

Dividend Growth(5Y)N/A
Div Incr Years0
Div Non Decr Years0
QH9.DE Yearly Dividends per shareQH9.DE Yearly Dividends per shareYearly Dividends per share 2022 2023 0.05 0.1 0.15 0.2 0.25

5.3 Sustainability

DP0%
EPS Next 2Y84.97%
EPS Next 3Y57.52%
QH9.DE Yearly Income VS Free CF VS DividendQH9.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 -100M -200M -300M -400M

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ADTRAN INC

FRA:QH9 (7/30/2025, 7:00:00 PM)

8.234

-0.07 (-0.8%)

Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupTechnology Hardware & Equipment
GICS IndustryCommunications Equipment
Earnings (Last)05-07 2025-05-07/amc
Earnings (Next)08-04 2025-08-04/amc
Inst Owners83.52%
Inst Owner ChangeN/A
Ins Owners1.4%
Ins Owner ChangeN/A
Market Cap658.97M
Analysts76.92
Price Target10.85 (31.77%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 6.65%
Yearly Dividend0
Dividend Growth(5Y)N/A
DP0%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)149.02%
Min EPS beat(2)100%
Max EPS beat(2)198.04%
EPS beat(4)2
Avg EPS beat(4)31.92%
Min EPS beat(4)-161.44%
Max EPS beat(4)198.04%
EPS beat(8)4
Avg EPS beat(8)-95.99%
EPS beat(12)5
Avg EPS beat(12)-84.29%
EPS beat(16)9
Avg EPS beat(16)1.21%
Revenue beat(2)1
Avg Revenue beat(2)-0.43%
Min Revenue beat(2)-0.92%
Max Revenue beat(2)0.06%
Revenue beat(4)1
Avg Revenue beat(4)-1.1%
Min Revenue beat(4)-1.91%
Max Revenue beat(4)0.06%
Revenue beat(8)1
Avg Revenue beat(8)-2.36%
Revenue beat(12)2
Avg Revenue beat(12)-2.46%
Revenue beat(16)3
Avg Revenue beat(16)-1.71%
PT rev (1m)3.34%
PT rev (3m)-7.11%
EPS NQ rev (1m)143.33%
EPS NQ rev (3m)-82.67%
EPS NY rev (1m)0%
EPS NY rev (3m)-38.44%
Revenue NQ rev (1m)0.42%
Revenue NQ rev (3m)0.61%
Revenue NY rev (1m)-0.19%
Revenue NY rev (3m)-0.66%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE 21.54
P/S 0.65
P/FCF N/A
P/OCF N/A
P/B 5.47
P/tB N/A
EV/EBITDA 118.17
EPS(TTM)-0.23
EYN/A
EPS(NY)0.38
Fwd EY4.64%
FCF(TTM)N/A
FCFYN/A
OCF(TTM)N/A
OCFYN/A
SpS12.69
BVpS1.51
TBVpS-2.27
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -38.73%
ROE -332.73%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) N/A
GM 37.6%
FCFM N/A
ROA(3y)-18.05%
ROA(5y)-11.04%
ROE(3y)-126.55%
ROE(5y)-76.29%
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-1.23%
GM growth 5Y-2.07%
F-ScoreN/A
Asset Turnover0.98
Health
Industry RankSector Rank
Debt/Equity 1.37
Debt/FCF N/A
Debt/EBITDA 26.48
Cap/Depr N/A
Cap/Sales N/A
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio 2.02
Quick Ratio 1.18
Altman-Z 0.67
F-ScoreN/A
WACC10.37%
ROIC/WACCN/A
Cap/Depr(3y)44.28%
Cap/Depr(5y)41.36%
Cap/Sales(3y)4.09%
Cap/Sales(5y)2.91%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)79.2%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%250%
EPS Next Y144.16%
EPS Next 2Y84.97%
EPS Next 3Y57.52%
EPS Next 5YN/A
Revenue 1Y (TTM)-19.7%
Revenue growth 3Y17.9%
Revenue growth 5Y11.72%
Sales Q2Q%9.54%
Revenue Next Year12.07%
Revenue Next 2Y10.21%
Revenue Next 3Y11.57%
Revenue Next 5YN/A
EBIT growth 1Y41.66%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year28497.5%
EBIT Next 3Y624.53%
EBIT Next 5YN/A
FCF growth 1Y145.02%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y326.01%
OCF growth 3Y225.09%
OCF growth 5YN/A