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Side-by-side financial comparison of ADTRAN Holdings, Inc. (ADTN) and ESCO TECHNOLOGIES INC (ESE). Click either name above to swap in a different company.
ADTRAN Holdings, Inc. is the larger business by last-quarter revenue ($291.6M vs $289.7M, roughly 1.0× ESCO TECHNOLOGIES INC). ESCO TECHNOLOGIES INC runs the higher net margin — 9.9% vs -1.2%, a 11.1% gap on every dollar of revenue. On growth, ADTRAN Holdings, Inc. posted the faster year-over-year revenue change (20.1% vs 17.3%). ESCO TECHNOLOGIES INC produced more free cash flow last quarter ($63.0M vs $30.6M). Over the past eight quarters, ADTRAN Holdings, Inc.'s revenue compounded faster (13.5% CAGR vs 7.8%).
Adtran, Inc. is an American fiber networking and telecommunications company headquartered in Huntsville, Alabama. It is a vendor of both residential and enterprise networking equipment, along with administrative software for network management and deployment. Its customers include communications service providers, governments, enterprises and utilities.
Esco is a Singaporean brand that develops, manufactures, and sells products and services for laboratories.
ADTN vs ESE — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $291.6M | $289.7M |
| Net Profit | $-3.6M | $28.7M |
| Gross Margin | 39.0% | 41.4% |
| Operating Margin | 1.5% | 13.2% |
| Net Margin | -1.2% | 9.9% |
| Revenue YoY | 20.1% | 17.3% |
| Net Profit YoY | 92.2% | 22.2% |
| EPS (diluted) | $-0.02 | $1.11 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $291.6M | $289.7M | ||
| Q3 25 | $279.4M | $286.5M | ||
| Q2 25 | $265.1M | $296.3M | ||
| Q1 25 | $247.7M | $265.5M | ||
| Q4 24 | $242.9M | $247.0M | ||
| Q3 24 | $227.7M | $298.5M | ||
| Q2 24 | $226.0M | $260.8M | ||
| Q1 24 | $226.2M | $249.1M |
| Q4 25 | $-3.6M | $28.7M | ||
| Q3 25 | $-10.3M | $218.7M | ||
| Q2 25 | $-20.5M | $26.1M | ||
| Q1 25 | $-11.3M | $31.0M | ||
| Q4 24 | $-46.1M | $23.5M | ||
| Q3 24 | $-33.3M | $34.3M | ||
| Q2 24 | $-49.7M | $29.2M | ||
| Q1 24 | $-330.8M | $23.2M |
| Q4 25 | 39.0% | 41.4% | ||
| Q3 25 | 38.3% | 45.9% | ||
| Q2 25 | 37.3% | 41.2% | ||
| Q1 25 | 38.4% | 41.1% | ||
| Q4 24 | 36.9% | 39.8% | ||
| Q3 24 | 36.5% | 40.1% | ||
| Q2 24 | 36.0% | 39.6% | ||
| Q1 24 | 31.1% | 38.8% |
| Q4 25 | 1.5% | 13.2% | ||
| Q3 25 | -1.0% | 17.2% | ||
| Q2 25 | -5.0% | 11.2% | ||
| Q1 25 | -1.6% | 15.3% | ||
| Q4 24 | -6.9% | 11.4% | ||
| Q3 24 | -11.5% | 14.8% | ||
| Q2 24 | -17.0% | 14.3% | ||
| Q1 24 | -153.1% | 11.7% |
| Q4 25 | -1.2% | 9.9% | ||
| Q3 25 | -3.7% | 76.3% | ||
| Q2 25 | -7.7% | 8.8% | ||
| Q1 25 | -4.5% | 11.7% | ||
| Q4 24 | -19.0% | 9.5% | ||
| Q3 24 | -14.6% | 11.5% | ||
| Q2 24 | -22.0% | 11.2% | ||
| Q1 24 | -146.2% | 9.3% |
| Q4 25 | $-0.02 | $1.11 | ||
| Q3 25 | $-0.12 | $8.43 | ||
| Q2 25 | $-0.24 | $1.01 | ||
| Q1 25 | $-0.14 | $1.20 | ||
| Q4 24 | $-0.58 | $0.91 | ||
| Q3 24 | $-0.38 | $1.32 | ||
| Q2 24 | $-0.63 | $1.13 | ||
| Q1 24 | $-4.20 | $0.90 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $95.7M | $103.8M |
| Total DebtLower is stronger | — | $145.5M |
| Stockholders' EquityBook value | $145.8M | $1.6B |
| Total Assets | $1.2B | $2.4B |
| Debt / EquityLower = less leverage | — | 0.09× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $95.7M | $103.8M | ||
| Q3 25 | $93.7M | $101.3M | ||
| Q2 25 | $106.3M | $78.7M | ||
| Q1 25 | $101.3M | $57.4M | ||
| Q4 24 | $76.0M | $71.3M | ||
| Q3 24 | $88.5M | $66.0M | ||
| Q2 24 | $111.2M | $63.0M | ||
| Q1 24 | $106.8M | $59.4M |
| Q4 25 | — | $145.5M | ||
| Q3 25 | — | $186.0M | ||
| Q2 25 | — | $525.0M | ||
| Q1 25 | — | $88.0M | ||
| Q4 24 | — | $112.0M | ||
| Q3 24 | — | $122.0M | ||
| Q2 24 | — | $173.0M | ||
| Q1 24 | — | $191.0M |
| Q4 25 | $145.8M | $1.6B | ||
| Q3 25 | $141.6M | $1.5B | ||
| Q2 25 | $169.6M | $1.3B | ||
| Q1 25 | $138.9M | $1.3B | ||
| Q4 24 | $127.0M | $1.2B | ||
| Q3 24 | $205.6M | $1.2B | ||
| Q2 24 | $213.6M | $1.2B | ||
| Q1 24 | $260.8M | $1.2B |
| Q4 25 | $1.2B | $2.4B | ||
| Q3 25 | $1.2B | $2.4B | ||
| Q2 25 | $1.2B | $2.5B | ||
| Q1 25 | $1.2B | $1.8B | ||
| Q4 24 | $1.2B | $1.8B | ||
| Q3 24 | $1.3B | $1.8B | ||
| Q2 24 | $1.3B | $1.8B | ||
| Q1 24 | $1.3B | $1.8B |
| Q4 25 | — | 0.09× | ||
| Q3 25 | — | 0.12× | ||
| Q2 25 | — | 0.40× | ||
| Q1 25 | — | 0.07× | ||
| Q4 24 | — | 0.09× | ||
| Q3 24 | — | 0.10× | ||
| Q2 24 | — | 0.14× | ||
| Q1 24 | — | 0.16× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $42.2M | $68.9M |
| Free Cash FlowOCF − Capex | $30.6M | $63.0M |
| FCF MarginFCF / Revenue | 10.5% | 21.7% |
| Capex IntensityCapex / Revenue | 4.0% | 2.0% |
| Cash ConversionOCF / Net Profit | — | 2.40× |
| TTM Free Cash FlowTrailing 4 quarters | $98.0M | $239.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $42.2M | $68.9M | ||
| Q3 25 | $12.2M | $109.9M | ||
| Q2 25 | $32.2M | $73.7M | ||
| Q1 25 | $43.2M | $24.1M | ||
| Q4 24 | $2.4M | $34.2M | ||
| Q3 24 | $43.3M | $72.1M | ||
| Q2 24 | $19.9M | $36.2M | ||
| Q1 24 | $37.9M | $10.5M |
| Q4 25 | $30.6M | $63.0M | ||
| Q3 25 | $4.2M | $97.8M | ||
| Q2 25 | $27.5M | $64.9M | ||
| Q1 25 | $35.8M | $14.0M | ||
| Q4 24 | $-895.0K | $29.0M | ||
| Q3 24 | $37.1M | $60.9M | ||
| Q2 24 | $8.4M | $27.6M | ||
| Q1 24 | $24.4M | $2.0M |
| Q4 25 | 10.5% | 21.7% | ||
| Q3 25 | 1.5% | 34.1% | ||
| Q2 25 | 10.4% | 21.9% | ||
| Q1 25 | 14.4% | 5.3% | ||
| Q4 24 | -0.4% | 11.7% | ||
| Q3 24 | 16.3% | 20.4% | ||
| Q2 24 | 3.7% | 10.6% | ||
| Q1 24 | 10.8% | 0.8% |
| Q4 25 | 4.0% | 2.0% | ||
| Q3 25 | 2.9% | 4.2% | ||
| Q2 25 | 1.8% | 3.0% | ||
| Q1 25 | 3.0% | 3.8% | ||
| Q4 24 | 1.4% | 2.1% | ||
| Q3 24 | 2.7% | 3.8% | ||
| Q2 24 | 5.1% | 3.3% | ||
| Q1 24 | 6.0% | 3.4% |
| Q4 25 | — | 2.40× | ||
| Q3 25 | — | 0.50× | ||
| Q2 25 | — | 2.83× | ||
| Q1 25 | — | 0.78× | ||
| Q4 24 | — | 1.46× | ||
| Q3 24 | — | 2.10× | ||
| Q2 24 | — | 1.24× | ||
| Q1 24 | — | 0.45× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ADTN
| Subscriber Solutions | $96.2M | 33% |
| Optical Networking Solutions | $81.8M | 28% |
| Access Aggregation Solutions | $64.6M | 22% |
| Services And Support | $48.9M | 17% |
ESE
| US Government | $98.0M | 34% |
| Utility Solutions Group | $87.5M | 30% |
| RF Shielding And Test | $58.3M | 20% |
| Commercial | $45.8M | 16% |
| Related Party | $1.3M | 0% |
