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Side-by-side financial comparison of ADTRAN Holdings, Inc. (ADTN) and Fabrinet (FN). Click either name above to swap in a different company.
Fabrinet is the larger business by last-quarter revenue ($1.1B vs $291.6M, roughly 3.9× ADTRAN Holdings, Inc.). Fabrinet runs the higher net margin — 9.9% vs -1.2%, a 11.2% gap on every dollar of revenue. On growth, Fabrinet posted the faster year-over-year revenue change (35.9% vs 20.1%). ADTRAN Holdings, Inc. produced more free cash flow last quarter ($30.6M vs $-5.3M). Over the past eight quarters, Fabrinet's revenue compounded faster (24.4% CAGR vs 13.5%).
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.
FabrinetFNEarnings & Financial Report
Below is a list of companies having stocks that are included in the S&P MidCap 400 stock market index. The index, maintained by S&P Dow Jones Indices, comprises the common stocks of 400 mid-cap, mostly American, companies. Although called the S&P 400, the index sometimes contains more than 400 stocks when it includes two or more share classes of stock from one of its component companies.
ADTN vs FN — Head-to-Head
Income Statement — Q4 2025 vs Q2 2026
| Metric | | |
|---|---|---|
| Revenue | $291.6M | $1.1B |
| Net Profit | $-3.6M | $112.6M |
| Gross Margin | 39.0% | 12.2% |
| Operating Margin | 1.5% | 10.1% |
| Net Margin | -1.2% | 9.9% |
| Revenue YoY | 20.1% | 35.9% |
| Net Profit YoY | 92.2% | 30.0% |
| EPS (diluted) | $-0.02 | $3.11 |
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 | $1.1B | ||
| Q3 25 | $279.4M | $978.1M | ||
| Q2 25 | $265.1M | $909.7M | ||
| Q1 25 | $247.7M | $871.8M | ||
| Q4 24 | $242.9M | $833.6M | ||
| Q3 24 | $227.7M | $804.2M | ||
| Q2 24 | $226.0M | $753.3M | ||
| Q1 24 | $226.2M | $731.5M |
| Q4 25 | $-3.6M | $112.6M | ||
| Q3 25 | $-10.3M | $95.9M | ||
| Q2 25 | $-20.5M | $87.2M | ||
| Q1 25 | $-11.3M | $81.3M | ||
| Q4 24 | $-46.1M | $86.6M | ||
| Q3 24 | $-33.3M | $77.4M | ||
| Q2 24 | $-49.7M | $81.1M | ||
| Q1 24 | $-330.8M | $80.9M |
| Q4 25 | 39.0% | 12.2% | ||
| Q3 25 | 38.3% | 11.9% | ||
| Q2 25 | 37.3% | 12.2% | ||
| Q1 25 | 38.4% | 11.7% | ||
| Q4 24 | 36.9% | 12.1% | ||
| Q3 24 | 36.5% | 12.3% | ||
| Q2 24 | 36.0% | 12.3% | ||
| Q1 24 | 31.1% | 12.4% |
| Q4 25 | 1.5% | 10.1% | ||
| Q3 25 | -1.0% | 9.6% | ||
| Q2 25 | -5.0% | 9.8% | ||
| Q1 25 | -1.6% | 9.0% | ||
| Q4 24 | -6.9% | 9.5% | ||
| Q3 24 | -11.5% | 9.6% | ||
| Q2 24 | -17.0% | 9.7% | ||
| Q1 24 | -153.1% | 9.7% |
| Q4 25 | -1.2% | 9.9% | ||
| Q3 25 | -3.7% | 9.8% | ||
| Q2 25 | -7.7% | 9.6% | ||
| Q1 25 | -4.5% | 9.3% | ||
| Q4 24 | -19.0% | 10.4% | ||
| Q3 24 | -14.6% | 9.6% | ||
| Q2 24 | -22.0% | 10.8% | ||
| Q1 24 | -146.2% | 11.1% |
| Q4 25 | $-0.02 | $3.11 | ||
| Q3 25 | $-0.12 | $2.66 | ||
| Q2 25 | $-0.24 | $2.41 | ||
| Q1 25 | $-0.14 | $2.25 | ||
| Q4 24 | $-0.58 | $2.38 | ||
| Q3 24 | $-0.38 | $2.13 | ||
| Q2 24 | $-0.63 | $2.22 | ||
| Q1 24 | $-4.20 | $2.21 |
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 | $960.8M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $145.8M | $2.2B |
| Total Assets | $1.2B | $3.3B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $95.7M | $960.8M | ||
| Q3 25 | $93.7M | $968.8M | ||
| Q2 25 | $106.3M | $934.2M | ||
| Q1 25 | $101.3M | $950.7M | ||
| Q4 24 | $76.0M | $934.6M | ||
| Q3 24 | $88.5M | $908.9M | ||
| Q2 24 | $111.2M | $858.6M | ||
| Q1 24 | $106.8M | $794.0M |
| Q4 25 | $145.8M | $2.2B | ||
| Q3 25 | $141.6M | $2.1B | ||
| Q2 25 | $169.6M | $2.0B | ||
| Q1 25 | $138.9M | $1.9B | ||
| Q4 24 | $127.0M | $1.8B | ||
| Q3 24 | $205.6M | $1.8B | ||
| Q2 24 | $213.6M | $1.7B | ||
| Q1 24 | $260.8M | $1.7B |
| Q4 25 | $1.2B | $3.3B | ||
| Q3 25 | $1.2B | $3.0B | ||
| Q2 25 | $1.2B | $2.8B | ||
| Q1 25 | $1.2B | $2.6B | ||
| Q4 24 | $1.2B | $2.5B | ||
| Q3 24 | $1.3B | $2.4B | ||
| Q2 24 | $1.3B | $2.3B | ||
| Q1 24 | $1.3B | $2.2B |
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 | $46.3M |
| Free Cash FlowOCF − Capex | $30.6M | $-5.3M |
| FCF MarginFCF / Revenue | 10.5% | -0.5% |
| Capex IntensityCapex / Revenue | 4.0% | 4.6% |
| Cash ConversionOCF / Net Profit | — | 0.41× |
| TTM Free Cash FlowTrailing 4 quarters | $98.0M | $102.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $42.2M | $46.3M | ||
| Q3 25 | $12.2M | $102.6M | ||
| Q2 25 | $32.2M | $55.1M | ||
| Q1 25 | $43.2M | $74.2M | ||
| Q4 24 | $2.4M | $115.9M | ||
| Q3 24 | $43.3M | $83.2M | ||
| Q2 24 | $19.9M | $83.1M | ||
| Q1 24 | $37.9M | $100.9M |
| Q4 25 | $30.6M | $-5.3M | ||
| Q3 25 | $4.2M | $57.3M | ||
| Q2 25 | $27.5M | $4.7M | ||
| Q1 25 | $35.8M | $45.7M | ||
| Q4 24 | $-895.0K | $94.0M | ||
| Q3 24 | $37.1M | $62.9M | ||
| Q2 24 | $8.4M | $70.4M | ||
| Q1 24 | $24.4M | $87.3M |
| Q4 25 | 10.5% | -0.5% | ||
| Q3 25 | 1.5% | 5.9% | ||
| Q2 25 | 10.4% | 0.5% | ||
| Q1 25 | 14.4% | 5.2% | ||
| Q4 24 | -0.4% | 11.3% | ||
| Q3 24 | 16.3% | 7.8% | ||
| Q2 24 | 3.7% | 9.3% | ||
| Q1 24 | 10.8% | 11.9% |
| Q4 25 | 4.0% | 4.6% | ||
| Q3 25 | 2.9% | 4.6% | ||
| Q2 25 | 1.8% | 5.5% | ||
| Q1 25 | 3.0% | 3.3% | ||
| Q4 24 | 1.4% | 2.6% | ||
| Q3 24 | 2.7% | 2.5% | ||
| Q2 24 | 5.1% | 1.7% | ||
| Q1 24 | 6.0% | 1.9% |
| Q4 25 | — | 0.41× | ||
| Q3 25 | — | 1.07× | ||
| Q2 25 | — | 0.63× | ||
| Q1 25 | — | 0.91× | ||
| Q4 24 | — | 1.34× | ||
| Q3 24 | — | 1.07× | ||
| Q2 24 | — | 1.02× | ||
| Q1 24 | — | 1.25× |
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% |
FN
| Optical Communications | $832.6M | 73% |
| Non Optical Communications | $300.3M | 27% |
