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ADTRAN INC (QH9.DE) Stock Fundamental Analysis

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

8.168  -0.95 (-10.44%)

Fundamental Rating

2

Taking everything into account, QH9 scores 2 out of 10 in our fundamental rating. QH9 was compared to 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.
QH9 had a negative operating cash flow in the past year.
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

The Return On Assets of QH9 (-14.91%) is worse than 76.92% of its industry peers.
Looking at the Return On Equity, with a value of -42.18%, QH9 is doing worse than 65.38% of the companies in the same industry.
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

Looking at the Gross Margin, with a value of 31.16%, QH9 is doing worse than 76.92% of the companies in the same industry.
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 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.
There is no outstanding debt for QH9. This means it has a Debt/Equity and Debt/FCF ratio of 0 and it is amongst the best of the sector and industry.
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

Based on the Altman-Z score of 0.91, we must say that QH9 is in the distress zone and has some risk of bankruptcy.
With a Altman-Z score value of 0.91, QH9 is not doing good in the industry: 65.38% of the companies in the same industry are doing better.
QH9 has a Debt/Equity ratio of 0.33. This is a healthy value indicating a solid balance between debt and equity.
QH9 has a Debt to Equity ratio of 0.33. This is in the better half of the industry: QH9 outperforms 61.54% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.33
Debt/FCF N/A
Altman-Z 0.91
ROIC/WACCN/A
WACC10.6%
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.
QH9 has a better Current ratio (2.65) than 76.92% of its industry peers.
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's Quick ratio of 1.34 is in line compared to the rest of the industry. QH9 outperforms 46.15% 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 growth in Earnings Per Share. In the last year, the EPS has been growing by 75.97%, which is quite impressive.
EPS 1Y (TTM)75.97%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%100%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%7.7%

3.2 Future

The Earnings Per Share is expected to grow by 82.33% on average over the next years. This is a very strong growth
The Revenue is expected to grow by 10.50% on average over the next years. This is quite good.
EPS Next Y161.9%
EPS Next 2Y82.33%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year11.75%
Revenue Next 2Y10.5%
Revenue Next 3YN/A
Revenue Next 5YN/A

3.3 Evolution

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.
Based on the Price/Forward Earnings ratio of 46.21, the valuation of QH9 can be described as expensive.
Based on the Price/Forward Earnings ratio, QH9 is valued a bit more expensive than the industry average as 61.54% of the companies are valued more cheaply.
When comparing the Price/Forward Earnings ratio of QH9 to the average of the S&P500 Index (22.10), we can say QH9 is valued expensively.
Industry RankSector Rank
PE N/A
Fwd PE 46.21
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

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

QH9's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
A more expensive valuation may be justified as QH9's earnings are expected to grow with 82.33% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y82.33%
EPS Next 3YN/A

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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.
QH9's Dividend Yield is rather good when compared to the industry average which is at 3.51. QH9 pays more dividend than 96.15% of the companies in the same industry.
Compared to an average S&P500 Dividend Yield of 2.33, QH9 pays a better dividend.
Industry RankSector Rank
Dividend Yield 6.65%

5.2 History

The dividend of QH9 decreases each year by -5.46%.
Dividend Growth(5Y)-5.46%
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 2Y82.33%
EPS Next 3YN/A
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 (3/7/2025, 7:00:00 PM)

8.168

-0.95 (-10.44%)

Chartmill FA Rating
GICS SectorInformation Technology
GICS IndustryGroupTechnology Hardware & Equipment
GICS IndustryCommunications Equipment
Earnings (Last)02-26 2025-02-26/bmo
Earnings (Next)05-05 2025-05-05/amc
Inst Owners89.08%
Inst Owner ChangeN/A
Ins Owners1.31%
Ins Owner ChangeN/A
Market Cap652.30M
Analysts76.92
Price Target12.83 (57.08%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 6.65%
Yearly Dividend0.25
Dividend Growth(5Y)-5.46%
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)14.3%
PT rev (3m)38.11%
EPS NQ rev (1m)0%
EPS NQ rev (3m)0%
EPS NY rev (1m)0%
EPS NY rev (3m)0.24%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0%
Revenue NY rev (1m)0.07%
Revenue NY rev (3m)0.06%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE 46.21
P/S 0.62
P/FCF N/A
P/OCF N/A
P/B 1.19
P/tB N/A
EV/EBITDA N/A
EPS(TTM)-0.29
EYN/A
EPS(NY)0.18
Fwd EY2.16%
FCF(TTM)-1.11
FCFYN/A
OCF(TTM)-0.61
OCFYN/A
SpS13.25
BVpS6.85
TBVpS-1.01
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 0.91
F-Score3
WACC10.6%
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)75.97%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%100%
EPS Next Y161.9%
EPS Next 2Y82.33%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%7.7%
Revenue Next Year11.75%
Revenue Next 2Y10.5%
Revenue Next 3YN/A
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