Adeia Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 8 fiscal years, taken from the XBRL data Adeia Inc. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2018	FY2020	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	406	280	516	391	439	389	376	443
Cost of revenue		8.46	78.4	127
Gross profit		272	438	264
Research and development	105	111	35.1	39.6	44.6	54.3	59.6	67.5
Selling, general and administrative	123	118	137	129	136	95.2	103	120
Operating expenses	382	349	714	864
Operating income	24	-68.7	267	119	153	136	129	175
Interest expense	25.7	23.4	37.9	39	45.3	62.6	52.5	40.4
Interest income	1.07	2.36	1.34
Other non-operating income	8.6	9.03	3.21	0.77	2.05	6.32	5.57	6.28
Pre-tax income	6.91	-83.1	224	72.8	110	80	81.2	141
Income tax	8.67	-19	-15.3	4.83	-28.6	12.6	16.6	29.8
Income from continuing operations			240	68	138	67.4	64.6
Net income to minority interests	-1.47	-1.5	-2.97	-3.46	-2.71	0	0
Net income	-0.29	-62.5	147	-55.5	-296	67.4	64.6	111
EBITDA	139	38	442	346	170	138	131	177
EPS, basic	-0.01	-1.27	1.77	-0.53	-2.83	0.63	0.59	1.02
EPS, diluted	-0.01	-1.27	1.75	-0.52	-2.75	0.60	0.57	0.99
Shares, basic (weighted)	48.8	49.1	82.8	105	104	107	109	109
Shares, diluted (weighted)	48.8	49.1	83.9	107	108	113	113	113
Dividend per share	0.80	0.80	0.50	0.20	0.20	0.20	0.20	0.20

Balance sheet

	FY2018	FY2020	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	114	74.6	170	80.4	115	54.6	78.8	73.1
Short-term investments		45.8	86.9	60.5		29	31.6	63.6
Receivables		24.2	116	64.2	58.5	39.7	34.1	28.6
Inventory		0.1	9.82	5.1
Other current assets		13.7	40.8	10.5	11.9	7.7	9.79	8.77
Total current assets		281	546	519	259	206	258	304
Property, plant and equipment	31	32.9	63.2	4.94	4.55	6.97	6.28	6.11
Lease right-of-use assets		17.8	80.2	6.64	5.99	9.48	9.32	8.18
Goodwill	386	386	315	315	314	314	314	314
Intangible assets		232	1,004	547	432	347	301	303
Other non-current assets		71.3	153	9.65	40.8	28.2	33.9	54.4
Total assets		1,048	2,701	2,470	1,211	1,106	1,098	1,039
Accounts payable		4.65	13	0.45	8.55	9.62	8.05	4.83
Accrued liabilities		41.4	129	21.8	26.3	17.3	24.5	34.3
Deferred revenue		0.72	33.1	6.98	17.1	7.13	19.5	19.7
Short-term debt		0	43.7	36.1	110	66.1	21	21
Total current liabilities		48.1	225	190	167	102	73.1	79.8
Long-term debt		335	796	729	620	520	454	397
Lease liabilities		13.4	66.2	5.64	4.79	9.73	9.48	8.73
Other non-current liabilities		76.9	99	3.79	20	18.1	15.2	15.5
Total liabilities		503	1,250	1,130	909	749	701	559
Total debt		335	839	765	729	586	475	418
Paid-in capital		768	1,268	1,340	636	635	649	686
Retained earnings		148	264	188	-124	-56.3	2.83	92.1
Treasury stock		-369	-77.2	-178	-211	-222	-255	-298
Other comprehensive income		-0.05	1.26	-0.75	-0.05	-0.01	-0	0.06
Shareholders' equity		548	1,457	1,350	301	357	397	481
Minority interests		-2.81	-5.76	-9.21
Total equity	618	545	1,451	1,340	301	357	397	481
Total liabilities and equity		1,048	2,701	2,470	1,211	1,106	1,098	1,039
Shares outstanding		49.6	105	103	105	107	108	109

Cash flow statement

	FY2018	FY2020	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	-1.76	-64	144	-58.9	-299	67.4	64.6	111
Depreciation and amortization	115	107	175	227	17.1	1.54	2.06	1.96
Stock-based compensation	31	31.6	39.1	58.2	52.6	18.1	26.6	34.7
Deferred income tax	-14.3	-45.7	-27.3	-7.84	-42	11.4	-7.14	-21.1
Change in receivables	-14.4	6.19	7.09	-27.6	24.9	18.3	6.26	5.52
Change in payables	-1.47	1.89	-4.86	-5.23	18.6	-0.89	-0.37	-2.46
Cash from operations	135	169	428	235	183	153	212	158
Capital expenditures	-3.34	-8.81	-7.38	-14	-12.6	-3.81	-1.82	-1.81
Acquisitions				-17.4	-50.5	0	0
Purchases of investments	-20.1	-40	-77.2	-67.3	-4.49	-42.8	-33.2	-57.3
Sales and maturities of investments	8.54	6.83	11.2	49.8	28.3	0	0	1.5
Cash from investing	11.4	-19.1	17.8	-6.21	-2.91	-34.5	-24	-40.3
Debt issued			1,010
Debt repaid	-100	-150	-520	-84	-40.5	-148	-114	-60.4
Stock issued	8.01	0.7	0.09
Share buybacks	-44.8	-4.51	-80.6	-84.9	-17.3	0	-18.7	-21.3
Dividends paid	-39.2	-39.5	-30.8	-21	-20.9	-21.3	-21.8	-21.8
Cash from financing	-171	-189	-351	-196	-263	-178	-164	-124
Exchange rate effect			1.33	-1.41	-3.42	0	0
Net change in cash	-24.6	-39.1	95.6	30.9	-86.6	-60	24.3	-5.69
Free cash flow	132	160	420	221	170	149	211	156
Interest paid	23.1	20.9	31.2	32.4	40.5	57.8	46.8	33.2
Income taxes paid	23.7	15	43.1	30.9	24.8	10.3	12.5	15

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $25.48 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Operating margin	41.6%	Operating income / revenue.
EBITDA margin	42.0%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	35.3%	Pre-tax income / revenue.
Net margin	26.1%	Net income / revenue.
FCF margin	40.0%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	40.6%	Cash from operations / revenue.
Effective tax rate	26.3%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	25.7%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	12.1%	Net income / average total assets.
Return on invested capital (ROIC)	18.3%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue	15.2%	Research and development expense / revenue.
SG&A / revenue	25.4%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	7.8%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	0.5%	Capital expenditures / revenue.
D&A / revenue	0.4%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	17.9%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	0.3%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	-3.0%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	36.1%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	4.6%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	-8.1%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	35.4%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	1.3%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	-16.7%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	71.9%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 5y	-5.4%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	73.7%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 5y	-10.8%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-25.6%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-4.8%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	-18.0%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	-25.8%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	-2.9%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	-17.9%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	0.0%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	0.0%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	-16.7%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	21.2%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	16.8%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	-19.9%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-5.3%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-5.0%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	-17.4%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-0.3%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	1.6%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	6.1%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	3.25x	Current assets / current liabilities.
Quick ratio	1.67x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	1.51x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.81x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	38.1%	Total debt / total assets.
Liabilities / assets	52.9%	Total liabilities / total assets.
Net debt	$248.9M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	1.26x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	5.43x	Operating income / interest expense.
Working capital	$204.2M	Current assets - current liabilities.
Goodwill and intangibles / assets	59.4%	(Goodwill + intangible assets) / total assets.
Tangible book value	-$124.9M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.46x	Revenue / average total assets.
Fixed asset turnover	76.1x	Revenue / average property, plant and equipment.
Receivables turnover	33.0x	Revenue / average receivables.
Days sales outstanding	11 days	365 x average receivables / revenue.
FCF conversion	153.7%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	1.2%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$1.07	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$4.12	Revenue / diluted weighted shares.
FCF per share	$1.65	Free cash flow / diluted weighted shares.
Operating cash flow per share	$1.67	Cash from operations / diluted weighted shares.
Book value per share	$4.33	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	-$1.13	Tangible book value / shares outstanding.
Cash per share	$1.24	(Cash + short-term investments) / shares outstanding.
Payout ratio	17.9%	Dividends paid / net income, when net income is positive.
Dividends / FCF	11.6%	Dividends paid / free cash flow, when free cash flow is positive.
Buybacks / FCF	15.9%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$2.81B	Share price x shares outstanding.
Enterprise value	$3.06B	Market cap + total debt - cash - short-term investments.
P/E	22.9x	Market cap / net income. Only when net income is positive.
P/S	5.97x	Market cap / revenue.
P/B	5.89x	Market cap / shareholders' equity. Only when equity is positive.
P/FCF	14.9x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	14.7x	Market cap / cash from operations, when positive.
EV/Sales	6.50x	Enterprise value / revenue.
EV/EBIT	15.6x	Enterprise value / operating income, when both are positive.
EV/EBITDA	15.5x	Enterprise value / EBITDA, when both are positive.
EV/FCF	16.2x	Enterprise value / free cash flow, when both are positive.
FCF yield	6.7%	Free cash flow / market cap.
Earnings yield	4.4%	Net income / market cap (the inverse of P/E).
Dividend yield	0.8%	Dividends paid over the period / market cap.
Shareholder yield	1.8%	(Dividends paid + share buybacks) / market cap.

What was Adeia Inc.'s revenue in fiscal 2025?

Adeia Inc. reported revenue of $443.4M for fiscal 2025, 17.9% higher than the year before.

Was Adeia Inc. profitable in fiscal 2025?

Yes. Net income was $111.1M, a net margin of 25.1%.

How much free cash flow did Adeia Inc. generate in fiscal 2025?

Cash from operations of $158.1M minus capital expenditures of $1.8M left free cash flow of $156.3M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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