ADT Inc ADT

Consumer DiscretionaryCommunications & NetworkingUnited States of America

Last close 9.86 USD on Nov 1, 2026, +25.2% year to date

Quant rating

Quant rating B Rank 54 of 344 in Consumer Discretionary

Growth D 273 of 344
Valuation B 68 of 344
Quality C 143 of 344
Revisions B 115 of 344
Momentum A 25 of 344

Wall Street consensus Hold (3.20)Average target 8.95 USD −9.2%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 7.2B
Enterprise value: 14.9B
52-week range: 6.04 – 9.99
3-year range: 5.58 – 9.99
Dividend yield: 2.23%
Beta (5 years): 1.07
Shares outstanding: 731M
Next earnings: Nov 3, 2026

About the company

ADT Inc. is a provider of security, interactive, and smart home solutions serving residential and small business customers. The Company's core security offerings include burglar and life safety alarms, smart security cameras, smart home automation systems, and video surveillance systems. Its security offerings are designed to detect intrusion; control access; sense movement, smoke, fire, carbon monoxide, leaks, temperature, and other environmental conditions and hazards; and address personal medical emergencies such as injuries or unanticipated falls. It offers customers routine maintenance and the installation of upgraded or additional equipment. Additionally, its personal emergency response system products and services utilize its security monitoring infrastructure to provide customers with solutions that help to sustain independent living, detect when a fall occurs, and provide protection while on the go with geolocation capability.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	5,129	4,898	4,653	4,382	4,203	–
Revenue growth	4.7%	5.3%	6.2%	4.3%	−20.9%	−0.7%
EPS (basic, normalized)	0.75	0.75	0.51	0.24	−0.25	–
EPS growth	0.0%	47.1%	112.5%	–	–	–
Gross margin	80.8%	82.7%	83.8%	84.1%	81.6%	82.6%
Net margin	11.7%	12.6%	9.7%	7.1%	−8.2%	6.6%
ROE	15.8%	16.3%	12.5%	9.4%	−10.9%	8.6%

Balance sheet, last quarter
Cash & short-term investments (mil)	3.9
Current ratio	0.69x
Long-term debt (mil)	7,447
Net debt (mil)	7,684
Total equity (mil)	3,477
Net debt / equity	2.21x
Net debt / EBITDA	2.87x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	5,129	+4.7%	2.9x	2,680	+4.3%	5.6x	0.75	0.0%	13.1x
2026	5,226	+1.9%	2.8x	2,680	0.0%	5.6x	0.93	+23.7%	10.6x
2027	5,361	+2.6%	2.8x	2,708	+1.1%	5.5x	0.99	+6.9%	9.9x
2028	5,519	+2.9%	2.7x	2,829	+4.4%	5.3x	1.07	+7.9%	9.2x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	5,226	+0.1%	+0.3%	+0.9%	0.93	+0.6%	+0.3%	+1.6%
2027	5,361	0.0%	+0.2%	+0.9%	0.99	+0.7%	+0.3%	+2.4%
2028	5,519	−0.3%	−0.2%	+1.3%	1.07	−0.2%	0.0%	+2.5%

Earnings surprises EPS beat in 4 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	1,209	1,205	1,244	1,260	1,267	1,287	1,298	1,276	1,279	1,312
Sales mean (mil)	1,188	1,210	1,223	1,233	1,244	1,276	1,295	1,296	1,267	1,289
Surprise	+1.8%	−0.4%	+1.7%	+2.2%	+1.8%	+0.8%	+0.2%	−1.5%	+1.0%	+1.8%
EPS reported	0.16	0.17	0.20	0.20	0.21	0.23	0.23	0.23	0.23	0.23
EPS mean	0.12	0.17	0.17	0.19	0.19	0.20	0.21	0.22	0.21	0.22
Surprise	+28.4%	−0.6%	+17.0%	+6.4%	+10.4%	+15.0%	+7.5%	+3.4%	+11.3%	+2.3%

Peer comparison Communications & Networking

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
ADT ADT Inc	7.2B	2.87x	11.7%	2.08x	10.6x	9.9x	5.6x	5.5x
VSAT Viasat Inc	10.6B	3.09x	−0.7%	2.29x	−47.4x	−56.8x	9.7x	9.3x
IDCC InterDigital Inc	8.0B	−1.38x	48.8%	6.43x	34.4x	38.8x	14.6x	17.1x
VIAV Viavi Solutions Inc.	7.4B	0.02x	−2.0%	5.10x	18.2x	15.3x	13.1x	10.8x
BDC Belden Inc.	4.1B	5.84x	8.7%	2.97x	12.2x	10.6x	11.1x	9.0x
ONDS Ondas Inc	3.7B	43.84x	−270.4%	2.13x	23.7x	−18.0x	−19.7x	−99.1x
Mean		9.04x	−34.0%	3.50x	8.6x	−0.0x	5.7x	−7.9x
Median		2.98x	4.0%	2.63x	15.2x	10.3x	10.4x	9.2x

Technical analysis

1M+59.3%
3M+35.4%
1Y+16.8%
3Y+89.2%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, ADT Inc, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	5,129	4,898	4,653	4,382	4,203	5,315
Cost of revenue	983	847	752	699	773	1,517
Gross profit	4,146	4,051	3,901	3,683	3,430	3,798
Selling, general & administrative expenses	1,217	1,252	614	663	935	1,665
Research & development	–	–	–	–	–	–
Depreciation/amortization	1,367	1,343	1,881	2,131	2,328	1,914
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	−37.0	−11.1	43.6	9.9	76.3	299
Other operating expenses	253	225	188	154	118	0
Operating income	1,346	1,243	1,174	725	−27.3	−79.0
Net interest income (expense)	−459	−441	−570	−263	−457	−708
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	−52.8	12.9	0	−57.6	8.3	8.3
Net income before taxes	834	815	604	404	−476	−779
Provision for taxes	233	196	161	87.7	−132	−147
Minority interest	–	–	–	–	–	–
Equity in affiliates	0	0	6.6	−4.6	0	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	601	619	450	312	−344	−632
Extraordinary items	−4.6	−118	12.6	−180	3.4	–
Net income	596	501	463	133	−341	−632
EBIT, normalized	1,353	1,232	1,218	735	251	277
EBITDA, normalized	2,720	2,575	2,553	2,335	2,090	2,191
Basic EPS, normalized	0.75	0.75	0.51	0.24	−0.25	–

Balance sheet in millions of USD, fiscal years

Balance sheet, ADT Inc, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	80.8	96.2	14.6	257	24.5	205
Receivables	487	413	386	631	501	336
Total inventory	202	197	201	410	348	216
Prepaid expenses	148	191	227	307	119	210
Other current assets	27.8	108	176	117	0.2	0.7
Total current assets	946	1,005	1,005	1,722	993	967
Property, plant & equipment	3,118	3,309	3,345	3,566	3,358	3,127
Goodwill	4,886	4,904	4,904	5,767	5,943	5,236
Intangibles	4,818	4,854	4,877	5,092	5,413	5,907
Long-term investments	–	–	–	–	–	–
Note receivable	62.9	40.8	15.2	15.2	36.1	–
Other long-term assets	1,988	1,938	1,818	1,660	1,151	879
Total assets	15,819	16,051	15,964	17,821	16,894	16,117
Liabilities
Accounts payable	107	154	277	487	475	322
Payable/accrued	–	–	–	–	–	–
Accrued expenses	336	526	387	799	687	584
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	310	196	312	872	118	44.8
Other current liabilities	259	389	504	503	424	346
Total current liabilities	1,013	1,264	1,480	2,661	1,703	1,296
Long-term debt	7,379	7,511	7,513	8,957	9,575	9,448
Minority interest	–	–	–	–	–	–
Other liabilities	3,648	3,475	3,182	2,810	2,367	2,334
Total liabilities	12,040	12,250	12,175	14,428	13,646	13,078
Shareholders' equity
Preferred stock	0	0	0	0	0	0
Common stock	8.2	8.9	9.2	9.2	9.0	8.3
Additional paid-in capital	6,679	7,117	7,413	7,381	7,261	6,641
Retained earnings (accumulated deficit)	−2,907	−3,318	−3,618	−3,950	−3,953	−3,491
Treasury stock	–	–	–	–	–	–
Other equity	−1.6	−7.0	−16.2	−47.2	−69.0	−119
Total equity	3,779	3,801	3,789	3,393	3,249	3,039
Total liabilities & shareholders' equity	15,819	16,051	15,964	17,821	16,894	16,117

Cash flow statement in millions of USD, fiscal years

Cash flow statement, ADT Inc, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	596	501	463	133	−341	−632
Depreciation, depletion & amortization	1,367	1,345	1,389	1,694	1,915	1,914
Deferred taxes	142	140	125	19.6	−139	−173
Non-cash items	329	192	124	191	101	513
Changes in working capital	−549	−292	−443	−149	114	−254
Cash from operations	1,884	1,885	1,658	1,888	1,650	1,367
Investing activities
Capital expenditures	−1,168	−1,273	−1,396	−1,533	−1,538	−956
Other investing cash flows	50.4	−22.7	1,638	0.2	−158	−181
Cash from investing	−1,118	−1,295	242	−1,533	−1,696	−1,137
Financing activities
Financing cash flow items	22.1	53.6	123	232	43.4	6.1
Cash dividends paid	−187	−182	−129	−127	−116	−109
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−697	−387	−2,138	−120	−55.5	33.0
Cash from financing	−862	−515	−2,144	−14.8	−128	−70.3
Foreign exchange effects	–	–	–	–	0	–
Net change in cash	−95.5	74.1	−244	340	−174	159
Free cash flow	716	612	262	355	112	410

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 1, 2026 after market close.