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ADTRAN INC (QH9.DE) Stock Fundamental Analysis

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

9.844  -0.35 (-3.44%)

Fundamental Rating

2

QH9 gets a fundamental rating of 2 out of 10. The analysis compared the fundamentals against 25 industry peers in the Communications Equipment industry. Both the profitability and financial health of QH9 have multiple concerns. QH9 is valued expensive and it does not seem to be growing.


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.
In the past year QH9 has reported a negative cash flow from operations.
QH9 had negative earnings in 4 of the past 5 years.
In the past 5 years QH9 reported 4 times negative operating cash flow.
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 0 -100M -200M

1.2 Ratios

Looking at the Return On Assets, with a value of -14.91%, QH9 is doing worse than 76.00% of the companies in the same industry.
With a Return On Equity value of -42.18%, QH9 is not doing good in the industry: 68.00% of the companies in the same industry are doing better.
Industry RankSector Rank
ROA -14.91%
ROE -42.18%
ROIC N/A
ROA(3y)-5.85%
ROA(5y)-5.36%
ROE(3y)-15.9%
ROE(5y)-12.2%
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 0 -10 -20 -30 -40

1.3 Margins

The Gross Margin of QH9 (31.16%) is worse than 80.00% 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 31.16%
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-10.26%
GM growth 5Y-4.16%
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 0 20 -20 40

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3

2. Health

2.1 Basic Checks

QH9 does not have a ROIC to compare to the WACC, probably because it is not profitable.
The number of shares outstanding for QH9 has been increased compared to 1 year ago.
The number of shares outstanding for QH9 has been increased compared to 5 years ago.
QH9 has a worse debt/assets ratio than last year.
QH9.DE Yearly Shares OutstandingQH9.DE Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 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 500M 1B 1.5B

2.2 Solvency

QH9 has an Altman-Z score of 0.96. This is a bad value and indicates that QH9 is not financially healthy and even has some risk of bankruptcy.
QH9 has a Altman-Z score of 0.96. This is in the lower half of the industry: QH9 underperforms 60.00% of its industry peers.
A Debt/Equity ratio of 0.33 indicates that QH9 is not too dependend on debt financing.
With a Debt to Equity ratio value of 0.33, QH9 perfoms like the industry average, outperforming 60.00% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.33
Debt/FCF N/A
Altman-Z 0.96
ROIC/WACCN/A
WACC9.26%
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 0 200M 400M 600M 800M

2.3 Liquidity

A Current Ratio of 2.65 indicates that QH9 has no problem at all paying its short term obligations.
Looking at the Current ratio, with a value of 2.65, QH9 is in the better half of the industry, outperforming 80.00% of the companies in the same industry.
QH9 has a Quick Ratio of 1.34. This is a normal value and indicates that QH9 is financially healthy and should not expect problems in meeting its short term obligations.
QH9 has a Quick ratio of 1.34. This is comparable to the rest of the industry: QH9 outperforms 48.00% of its industry peers.
Industry RankSector Rank
Current Ratio 2.65
Quick Ratio 1.34
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 200M 400M 600M 800M

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3

3. Growth

3.1 Past

QH9 shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -1650.00%.
QH9 shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 12.05%.
The Revenue has been growing by 16.77% on average over the past years. This is quite good.
EPS 1Y (TTM)-1650%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%64.29%
Revenue 1Y (TTM)12.05%
Revenue growth 3Y31.4%
Revenue growth 5Y16.77%
Sales Q2Q%-16.39%

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 32.35% on average per year.
The Revenue is expected to decrease by -1.67% on average over the next years.
EPS Next Y72.79%
EPS Next 2Y46.59%
EPS Next 3Y32.35%
EPS Next 5YN/A
Revenue Next Year-20.46%
Revenue Next 2Y-6.28%
Revenue Next 3Y-1.67%
Revenue Next 5YN/A

3.3 Evolution

The Revenue growth rate is decreasing: in the next years the growth will be less 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 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 0 0.5 -0.5 -1

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2

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings Ratio is negative for QH9. In the last year negative earnings were reported.
The Price/Forward Earnings ratio is 53.02, which means the current valuation is very expensive for QH9.
60.00% of the companies in the same industry are cheaper than QH9, based on the Price/Forward Earnings ratio.
QH9 is valuated rather cheaply when we compare the Price/Forward Earnings ratio to 92.74, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE N/A
Fwd PE 53.02
QH9.DE Price Earnings VS Forward Price EarningsQH9.DE Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 20 40 60 80

4.2 Price Multiples

Industry RankSector Rank
P/FCF N/A
EV/EBITDA N/A
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 32.35% in the coming years. This may justify a more expensive valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y46.59%
EPS Next 3Y32.35%

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5

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 6.65%, QH9 is a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 3.61, 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 2.28, QH9 pays a better dividend.
Industry RankSector Rank
Dividend Yield 6.65%

5.2 History

Dividend Growth(5Y)N/A
Div Incr Years1
Div Non Decr Years1
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

QH9 has negative earnings and hence a negative payout ratio. The dividend may be in danger.
DP-8.48%
EPS Next 2Y46.59%
EPS Next 3Y32.35%
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 0 -100M -200M

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ADTRAN INC

FRA:QH9 (2/4/2025, 7:00:00 PM)

9.844

-0.35 (-3.44%)

Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupTechnology Hardware & Equipment
GICS IndustryCommunications Equipment
Earnings (Last)11-07 2024-11-07/bmo
Earnings (Next)02-25 2025-02-25/amc
Inst Owners87.4%
Inst Owner ChangeN/A
Ins Owners1.39%
Ins Owner ChangeN/A
Market Cap779.94M
Analysts78.46
Price Target11.23 (14.08%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 6.65%
Yearly Dividend0.36
Dividend Growth(5Y)N/A
DP-8.48%
Div Incr Years1
Div Non Decr Years1
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-538.69%
Min EPS beat(2)-1024.87%
Max EPS beat(2)-52.51%
EPS beat(4)1
Avg EPS beat(4)-304.36%
Min EPS beat(4)-1024.87%
Max EPS beat(4)100%
EPS beat(8)3
Avg EPS beat(8)-113.52%
EPS beat(12)7
Avg EPS beat(12)2.55%
EPS beat(16)11
Avg EPS beat(16)47.15%
Revenue beat(2)0
Avg Revenue beat(2)-5.44%
Min Revenue beat(2)-7.35%
Max Revenue beat(2)-3.52%
Revenue beat(4)0
Avg Revenue beat(4)-4.91%
Min Revenue beat(4)-7.35%
Max Revenue beat(4)-2.56%
Revenue beat(8)1
Avg Revenue beat(8)-3.25%
Revenue beat(12)2
Avg Revenue beat(12)-1.91%
Revenue beat(16)2
Avg Revenue beat(16)-1.72%
PT rev (1m)15.98%
PT rev (3m)71.06%
EPS NQ rev (1m)0%
EPS NQ rev (3m)0%
EPS NY rev (1m)0.24%
EPS NY rev (3m)-20.34%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0%
Revenue NY rev (1m)-0.01%
Revenue NY rev (3m)-0.1%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE 53.02
P/S 0.7
P/FCF N/A
P/OCF N/A
P/B 1.36
P/tB N/A
EV/EBITDA N/A
EPS(TTM)-1.35
EYN/A
EPS(NY)0.19
Fwd EY1.89%
FCF(TTM)-1.17
FCFYN/A
OCF(TTM)-0.65
OCFYN/A
SpS14.03
BVpS7.25
TBVpS-1.07
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -14.91%
ROE -42.18%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) N/A
GM 31.16%
FCFM N/A
ROA(3y)-5.85%
ROA(5y)-5.36%
ROE(3y)-15.9%
ROE(5y)-12.2%
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-10.26%
GM growth 5Y-4.16%
F-Score3
Asset Turnover0.68
Health
Industry RankSector Rank
Debt/Equity 0.33
Debt/FCF N/A
Debt/EBITDA N/A
Cap/Depr 38.18%
Cap/Sales 3.75%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio 2.65
Quick Ratio 1.34
Altman-Z 0.96
F-Score3
WACC9.26%
ROIC/WACCN/A
Cap/Depr(3y)32.96%
Cap/Depr(5y)38.16%
Cap/Sales(3y)2.14%
Cap/Sales(5y)1.9%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-1650%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%64.29%
EPS Next Y72.79%
EPS Next 2Y46.59%
EPS Next 3Y32.35%
EPS Next 5YN/A
Revenue 1Y (TTM)12.05%
Revenue growth 3Y31.4%
Revenue growth 5Y16.77%
Sales Q2Q%-16.39%
Revenue Next Year-20.46%
Revenue Next 2Y-6.28%
Revenue Next 3Y-1.67%
Revenue Next 5YN/A
EBIT growth 1Y-173.04%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year748.34%
EBIT Next 3Y129.09%
EBIT Next 5YN/A
FCF growth 1Y-56.69%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-19.76%
OCF growth 3YN/A
OCF growth 5YN/A