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ADTRAN INC (QH9.DE) Stock Fundamental Analysis

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

7.812  -0.13 (-1.64%)

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. QH9 may be in some trouble as it scores bad on both profitability and health. 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

Looking at the Return On Assets, with a value of -38.73%, QH9 is doing worse than 92.00% of the companies in the same industry.
With a Return On Equity value of -332.73%, QH9 is not doing good in the industry: 80.00% of the companies in the same industry are doing better.
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.
QH9's Gross Margin has declined in the last couple of years.
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.
The number of shares outstanding for QH9 has been increased compared to 5 years ago.
Compared to 1 year ago, QH9 has a worse debt to assets ratio.
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 0.65. This is a bad value and indicates that QH9 is not financially healthy and even has some risk of bankruptcy.
With a Altman-Z score value of 0.65, QH9 is not doing good in the industry: 72.00% of the companies in the same industry are doing better.
A Debt/Equity ratio of 1.37 is on the high side and indicates that QH9 has dependencies on debt financing.
The Debt to Equity ratio of QH9 (1.37) is worse than 68.00% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.37
Debt/FCF N/A
Altman-Z 0.65
ROIC/WACCN/A
WACC10.45%
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

A Current Ratio of 2.02 indicates that QH9 has no problem at all paying its short term obligations.
QH9 has a Current ratio (2.02) which is in line with 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

QH9 shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 79.20%, which is quite impressive.
The Revenue for QH9 has decreased by -19.70% in the past year. This is quite bad
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

QH9 is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 57.52% yearly.
Based on estimates for the next years, QH9 will show a quite strong growth in Revenue. The Revenue will grow by 11.57% on average per year.
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

When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
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

QH9 reported negative earnings for the last year, which makes the Price/Earnings Ratio negative.
QH9 is valuated rather expensively with a Price/Forward Earnings ratio of 20.79.
Compared to the rest of the industry, the Price/Forward Earnings ratio of QH9 is on the same level as its industry peers.
QH9's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 37.67.
Industry RankSector Rank
PE N/A
Fwd PE 20.79
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

QH9's Enterprise Value to EBITDA ratio is a bit more expensive when compared to the industry. QH9 is more expensive than 64.00% of the companies in the same industry.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 114.46
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

QH9's 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

With a Yearly Dividend Yield of 6.65%, QH9 is a good candidate for dividend investing.
QH9's Dividend Yield is rather good when compared to the industry average which is at 6.47. QH9 pays more dividend than 96.00% of the companies 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 (7/25/2025, 7:00:00 PM)

7.812

-0.13 (-1.64%)

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 Cap625.19M
Analysts76.92
Price Target10.85 (38.89%)
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 20.79
P/S 0.63
P/FCF N/A
P/OCF N/A
P/B 5.28
P/tB N/A
EV/EBITDA 114.46
EPS(TTM)-0.22
EYN/A
EPS(NY)0.38
Fwd EY4.81%
FCF(TTM)N/A
FCFYN/A
OCF(TTM)N/A
OCFYN/A
SpS12.47
BVpS1.48
TBVpS-2.23
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 0.65
F-ScoreN/A
WACC10.45%
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