Adeia Inc. (ADEA) 10-Year Financial Performance & Capital Metrics

ADEA • • Industrial / General

TechnologyApplication SoftwareDigital Media & Entertainment SoftwareMedia Licensing & DRM

AboutAdeia Inc., together with its subsidiaries, operates as a consumer and entertainment product/solutions licensing company worldwide. It licenses its innovations to companies in the entertainment industry under the Adeia brand. The company licenses its patent portfolios across various markets, including multichannel video programming distributors comprising cable, satellite, and telecommunications television providers that aggregate and distribute linear content over networks, as well as television providers that aggregate and stream linear content over broadband networks; over-the-top video service providers, social media, and other new media companies, such as subscription video-on-demand service providers and social media companies; consumer electronics manufacturers, which includes smart televisions, streaming media devices, video game consoles, mobile devices, DVRs, and other connected media devices; and semiconductors, including sensors, radio frequency components, memory, and logic devices. The company was incorporated in 2019 and is headquartered in San Jose, California.Show more

Revenue $376M -3.3%
EBITDA $215M -10.7%
Net Income $65M -4.1%
EPS (Diluted) 0.57 -5.0%
Gross Margin 80.65% +6.8%
EBITDA Margin 57.19% -7.7%
Operating Margin 37.83% +1.0%
Net Margin 17.19% -0.8%
ROE 17.16% -16.2%
ROIC 12.54% +4.6%
Debt/Equity 1.22 -26.7%
Interest Coverage 2.71 +16.4%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong Piotroski F-Score: 7/9
✓FCF machine: 56.0% free cash flow margin
✓Momentum leader: RS Rating 82 (top 18%)
✓High quality earnings: Operating CF exceeds net income
✓Trading near 52-week high

✗Weaknesses

✗Weak 3Y average ROE of 0.5%

Price & Volume

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Growth Metrics

Revenue CAGR

10Y3.04%

5Y6.07%

3Y-24.61%

TTM10.53%

Profit (Net Income) CAGR

10Y-9.24%

5Y-

3Y-

TTM77.73%

EPS CAGR

10Y-15.79%

5Y-

3Y-

TTM80.56%

ROCE

10Y Avg9.91%

5Y Avg10.09%

3Y Avg12.66%

Latest14.03%

Peer Comparison

Media Licensing & DRM

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
ADEAAdeia Inc.	2.1B	19.17	33.63	-3.28%	19.32%	17.74%	10.03%	1.22
IMMRImmersion Corporation	215.67M	6.56	1.60	35.39%	7.31%	15.93%		0.57

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	273.3M	259.56M	373.73M	406.13M	280.07M	892.02M	877.7M	438.93M	388.79M	376.02M
Revenue Growth %	-0.02%	-0.05%	0.44%	0.09%	-0.31%	2.19%	-0.02%	-0.5%	-0.11%	-0.03%
Cost of Goods Sold+	22.78M	34.68M	125.44M	121.74M	115.13M	253.1M	353.96M	114.22M	95.27M	72.78M
COGS % of Revenue	0.08%	0.13%	0.34%	0.3%	0.41%	0.28%	0.4%	0.26%	0.25%	0.19%
Gross Profit+	250.52M	224.88M	248.29M	284.39M	164.94M	638.92M	523.74M	324.71M	293.51M	303.25M
Gross Margin %	0.92%	0.87%	0.66%	0.7%	0.59%	0.72%	0.6%	0.74%	0.75%	0.81%
Gross Profit Growth %	-0.03%	-0.1%	0.1%	0.15%	-0.42%	2.87%	-0.18%	-0.38%	-0.1%	0.03%
Operating Expenses+	74.18M	90.64M	243.3M	234.31M	228.52M	440.51M	498.28M	163.06M	147.95M	160.98M
OpEx % of Revenue	0.27%	0.35%	0.65%	0.58%	0.82%	0.49%	0.57%	0.37%	0.38%	0.43%
Selling, General & Admin	42M	45.91M	137.45M	127.91M	116.18M	245.36M	266.08M	118.49M	93.69M	101.39M
SG&A % of Revenue	0.15%	0.18%	0.37%	0.31%	0.41%	0.28%	0.3%	0.27%	0.24%	0.27%
Research & Development	32.18M	44.74M	105.85M	106.41M	112.34M	195.15M	232.2M	44.58M	54.26M	59.6M
R&D % of Revenue	0.12%	0.17%	0.28%	0.26%	0.4%	0.22%	0.26%	0.1%	0.14%	0.16%
Other Operating Expenses	0	0	0	0	0	0	0	0	0	0
Operating Income+	176.34M	134.24M	5M	50.08M	-63.58M	198.41M	25.45M	161.65M	145.56M	142.26M
Operating Margin %	0.65%	0.52%	0.01%	0.12%	-0.23%	0.22%	0.03%	0.37%	0.37%	0.38%
Operating Income Growth %	-0.02%	-0.24%	-0.96%	9.02%	-2.27%	4.12%	-0.87%	5.35%	-0.1%	-0.02%
EBITDA+	198.55M	168.37M	124.13M	165.21M	43.09M	373.15M	252.66M	275.87M	240.84M	215.04M
EBITDA Margin %	0.73%	0.65%	0.33%	0.41%	0.15%	0.42%	0.29%	0.63%	0.62%	0.57%
EBITDA Growth %	-0.01%	-0.15%	-0.26%	0.33%	-0.74%	7.66%	-0.32%	0.09%	-0.13%	-0.11%
D&A (Non-Cash Add-back)	22.21M	34.13M	119.13M	115.13M	106.67M	174.74M	227.2M	114.22M	95.27M	72.78M
EBIT	165.63M	93.12M	-30.05M	32.58M	-59.68M	173.78M	8.44M	155.11M	142.55M	133.73M
Net Interest Income+	0	-2.41M	-27.22M	-16.92M	-15.26M	-33.83M	-38.97M	-45.34M	-62.57M	-52.54M
Interest Income	0	0	1.07M	8.75M	8.12M	4.04M	0	0	0	0
Interest Expense	0	2.41M	28.29M	25.66M	23.38M	37.87M	38.97M	45.34M	62.57M	52.54M
Other Income/Expense	-10.7M	-43.53M	-63.34M	-43.17M	-19.48M	-62.5M	-55.99M	-51.88M	-65.59M	-61.08M
Pretax Income+	165.63M	90.72M	-58.34M	6.91M	-83.06M	135.91M	-30.54M	109.77M	79.98M	81.19M
Pretax Margin %	0.61%	0.35%	-0.16%	0.02%	-0.3%	0.15%	-0.03%	0.25%	0.21%	0.22%
Income Tax+	48.52M	34.63M	-1.78M	8.67M	-19.02M	-7.89M	28.38M	-28.62M	12.6M	16.56M
Effective Tax Rate %	0.71%	0.62%	0.97%	-0.04%	0.75%	1.08%	1.82%	-2.7%	0.84%	0.8%
Net Income+	117.02M	56.09M	-56.56M	-289K	-62.53M	146.76M	-55.46M	-295.88M	67.37M	64.62M
Net Margin %	0.43%	0.22%	-0.15%	-0%	-0.22%	0.16%	-0.06%	-0.67%	0.17%	0.17%
Net Income Growth %	-0.31%	-0.52%	-2.01%	0.99%	-215.37%	3.35%	-1.38%	-4.34%	1.23%	-0.04%
Net Income (Continuing)	117.12M	56.09M	-56.56M	-1.76M	-64.03M	143.8M	-58.91M	138.39M	67.37M	64.62M
Discontinued Operations	-101K	0	0	0	0	0	0	-434.27M	0	0
Minority Interest	0	0	0	-1.29M	-2.81M	-5.76M	-9.21M	0	0	0
EPS (Diluted)+	2.23	1.12	-1.15	-0.01	-1.27	1.75	-0.53	-2.84	0.60	0.57
EPS Growth %	-0.3%	-0.5%	-2.03%	0.99%	-	2.38%	-1.3%	-4.36%	1.21%	-0.05%
EPS (Basic)	2.26	1.14	-1.15	-0.01	-1.27	1.77	-0.53	-2.84	0.63	0.59
Diluted Shares Outstanding	52.59M	50.19M	49.25M	48.82M	49.12M	83.86M	104.73M	107.58M	112.85M	113.06M
Basic Shares Outstanding	51.8M	49.19M	49.18M	48.82M	49.12M	82.84M	104.73M	104.34M	106.55M	108.65M
Dividend Payout Ratio	0.36%	0.7%	-	-	-	0.21%	-	-	0.32%	0.34%

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	411.66M	199.94M	245.52M	397.53M	281.21M	546.3M	519.47M	258.71M	205.84M	258.38M
Cash & Short-Term Investments	381.74M	113M	200.69M	154.36M	121.48M	257.13M	140.96M	114.56M	83.57M	110.39M
Cash Only	22.6M	65.63M	138.26M	113.63M	74.55M	170.19M	80.43M	114.56M	54.56M	78.83M
Short-Term Investments	359.14M	47.38M	62.43M	40.74M	46.93M	86.95M	60.53M	0	29.01M	31.57M
Accounts Receivable	4.21M	67.79M	27.88M	225.73M	146M	248.41M	90.9M	132.23M	114.57M	138.9M
Days Sales Outstanding	5.62	95.32	27.22	202.87	190.28	101.64	37.8	109.96	107.56	134.83
Inventory	0	0	0	15.06M	100K	9.82M	5.1M	0	0	0
Days Inventory Outstanding	-	-	-	45.16	0.32	14.16	5.26	-	-	-
Other Current Assets	2.81M	5.9M	3.58M	2.37M	2.47M	5.9M	273.51M	645K	640K	2.74M
Total Non-Current Assets+	127.69M	986.5M	864.51M	837.58M	766.73M	2.15B	1.95B	951.81M	899.71M	839.59M
Property, Plant & Equipment	3.75M	38.85M	34.44M	31.04M	50.66M	143.43M	11.58M	10.54M	16.45M	15.6M
Fixed Asset Turnover	72.92x	6.68x	10.85x	13.09x	5.53x	6.22x	75.82x	41.63x	23.63x	24.10x
Goodwill	10.14M	382.96M	385.57M	385.78M	385.78M	847.03M	314.58M	313.66M	313.66M	313.66M
Intangible Assets	95.09M	541.88M	431.79M	327.72M	232.28M	1B	546.98M	432.48M	347.17M	301.18M
Long-Term Investments	0	0	-5.16M	86.28M	0	0	0	154.38M	0	63.69M
Other Non-Current Assets	13.21M	20.06M	12.7M	3.08M	94.35M	152.99M	1.08B	5.47M	198.54M	114.44M
Total Assets+	539.35M	1.19B	1.11B	1.24B	1.05B	2.7B	2.47B	1.21B	1.11B	1.1B
Asset Turnover	0.51x	0.22x	0.34x	0.33x	0.27x	0.33x	0.36x	0.36x	0.35x	0.34x
Asset Growth %	-0.07%	1.2%	-0.06%	0.11%	-0.15%	1.58%	-0.09%	-0.51%	-0.09%	-0.01%
Total Current Liabilities+	20.78M	51.02M	96.82M	54.15M	48.12M	224.67M	189.75M	166.71M	102.04M	73.11M
Accounts Payable	1.09M	7.53M	4.23M	2.76M	4.65M	13.04M	448K	8.55M	9.62M	8.04M
Days Payables Outstanding	17.46	79.26	12.32	8.29	14.74	18.81	0.46	27.31	36.87	40.35
Short-Term Debt	0	6M	34.45M	0	0	43.69M	36.09M	111.92M	66.14M	21.5M
Deferred Revenue (Current)	1000K	895K	1000K	1000K	720K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	6.04M	18.01M	18.4M	21.4M	18.4M	60.78M	126.76M	21.83M	8.38M	12.25M
Current Ratio	19.81x	3.92x	2.54x	7.34x	5.84x	2.43x	2.74x	1.55x	2.02x	3.53x
Quick Ratio	19.81x	3.92x	2.54x	7.06x	5.84x	2.39x	2.71x	1.55x	2.02x	3.53x
Cash Conversion Cycle	-	-	-	239.74	175.85	96.99	42.6	-	-	-
Total Non-Current Liabilities+	3.42M	627.63M	577.63M	562.81M	454.73M	1.03B	939.85M	742.4M	646.9M	628.28M
Long-Term Debt	0	577.24M	545.21M	482.19M	334.68M	795.66M	729.39M	619.58M	519.55M	454.44M
Capital Lease Obligations	0	0	0	0	13.41M	66.24M	5.64M	4.79M	9.73M	9.48M
Deferred Tax Liabilities	255K	32.56M	15.09M	64.99M	29.73M	24.75M	7.08M	0	0	0
Other Non-Current Liabilities	91K	50.4M	17.33M	15.62M	76.9M	98.95M	184.29M	107.34M	99.94M	99.81M
Total Liabilities	24.2M	678.65M	674.45M	616.96M	502.85M	1.25B	1.13B	909.11M	748.93M	701.39M
Total Debt+	0	583.24M	579.66M	482.19M	353.94M	923.49M	772.87M	736.29M	595.93M	485.42M
Net Debt	-22.6M	517.61M	441.4M	368.57M	279.39M	753.3M	692.44M	621.74M	541.37M	406.59M
Debt / Equity	-	1.15x	1.33x	0.78x	0.65x	0.64x	0.58x	2.44x	1.67x	1.22x
Debt / EBITDA	-	3.46x	4.67x	2.92x	8.21x	2.47x	3.06x	2.67x	2.47x	2.26x
Net Debt / EBITDA	-0.11x	3.07x	3.56x	2.23x	6.48x	2.02x	2.74x	2.25x	2.25x	1.89x
Interest Coverage	-	55.72x	0.18x	1.95x	-2.72x	5.24x	0.65x	3.57x	2.33x	2.71x
Total Equity+	515.16M	507.79M	435.58M	618.15M	545.1M	1.45B	1.34B	301.41M	356.62M	396.57M
Equity Growth %	-0.05%	-0.01%	-0.14%	0.42%	-0.12%	1.66%	-0.08%	-0.78%	0.18%	0.11%
Book Value per Share	9.80	10.12	8.84	12.66	11.10	17.30	12.80	2.80	3.16	3.51
Total Shareholders' Equity	515.16M	507.79M	435.58M	619.44M	547.91M	1.46B	1.35B	301.41M	356.62M	396.57M
Common Stock	58K	59K	60K	62K	64K	110K	113K	117K	121K	125K
Retained Earnings	146.86M	163.79M	68.56M	253.21M	148.32M	264.25M	187.81M	-123.7M	-56.33M	2.83M
Treasury Stock	-229.51M	-300.11M	-319.4M	-364.19M	-368.7M	-77.22M	-178.02M	-211.22M	-222.5M	-255.3M
Accumulated OCI	-1.44M	-148K	-303K	-328K	-53K	1.26M	-752K	-51K	-8K	-1K
Minority Interest	0	0	0	-1.29M	-2.81M	-5.76M	-9.21M	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	146.55M	145.63M	147.26M	135.13M	169.25M	427.6M	234.79M	183.02M	152.75M	212.46M
Operating CF Margin %	0.54%	0.56%	0.39%	0.33%	0.6%	0.48%	0.27%	0.42%	0.39%	0.57%
Operating CF Growth %	0.09%	-0.01%	0.01%	-0.08%	0.25%	1.53%	-0.45%	-0.22%	-0.17%	0.39%
Net Income	117.02M	56.09M	-56.56M	-1.76M	-64.03M	143.8M	-58.91M	-298.59M	67.37M	64.62M
Depreciation & Amortization	22.21M	34.13M	119.13M	115.13M	106.67M	174.74M	227.2M	160.39M	95.27M	72.78M
Stock-Based Compensation	11.52M	21.1M	33.46M	31.01M	31.55M	39.13M	58.18M	52.63M	18.06M	26.64M
Deferred Taxes	18.81M	955K	-18.29M	-15.58M	-38.61M	-34.67M	-978K	-40.3M	11.39M	-7.14M
Other Non-Cash Items	-2.66M	2.78M	3.79M	5.32M	2.65M	27.8M	4.71M	359.15M	4.05M	2.35M
Working Capital Changes	-20.35M	30.57M	65.74M	1.01M	131.02M	76.8M	4.58M	-50.25M	-43.39M	53.2M
Change in Receivables	2.69M	13.96M	-3.55M	-14.38M	6.19M	83.35M	30.88M	-61.78M	0	-11.8M
Change in Inventory	-16.94M	21.38M	70.8M	15.64M	125.36M	0	0	0	0	0
Change in Payables	-2.69M	1.71M	-3.3M	-1.47M	1.89M	-4.86M	-5.23M	18.6M	-894K	-372K
Cash from Investing+	-21.29M	-592.4M	-18.84M	11.43M	-19.14M	17.84M	-6.21M	-2.91M	-34.49M	-24.02M
Capital Expenditures	-8.59M	-13.38M	-3.5M	-7.44M	-13.31M	-7.38M	-13.95M	-12.58M	-3.81M	-1.82M
CapEx % of Revenue	0.03%	0.05%	0.01%	0.02%	0.05%	0.01%	0.02%	0.03%	0.01%	0%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	18.28M	299.6M	59K	15.27M	-4.45M	-50.94M	-167K	-204K	-2.53M	-20.48M
Cash from Financing+	-153.57M	489.79M	-55.79M	-171.2M	-189.18M	-351.14M	-196.25M	-263.26M	-178.26M	-164.17M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-41.68M	-39.16M	-39.51M	-39.19M	-39.5M	-30.83M	-20.98M	-203.82M	-21.34M	-21.77M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	11.39M	8.23M	9.01M	12.79M	4.82M	4.86M	9.59M	14.26M	2.35M	3.25M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	137.96M	132.26M	143.77M	127.69M	155.94M	369.29M	220.65M	170.16M	146.41M	210.64M
FCF Margin %	0.5%	0.51%	0.38%	0.31%	0.56%	0.41%	0.25%	0.39%	0.38%	0.56%
FCF Growth %	0.09%	-0.04%	0.09%	-0.11%	0.22%	1.37%	-0.4%	-0.23%	-0.14%	0.44%
FCF per Share	2.62	2.64	2.92	2.62	3.17	4.40	2.11	1.58	1.30	1.86
FCF Conversion (FCF/Net Income)	1.25x	2.60x	-2.60x	-467.59x	-2.71x	2.91x	-4.23x	-0.62x	2.27x	3.29x
Interest Paid	0	0	28.07M	23.13M	20.89M	31.24M	32.36M	40.51M	57.76M	46.77M
Taxes Paid	-36.78M	7.68M	15.68M	23.68M	15M	43.07M	30.86M	24.78M	10.32M	12.49M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	22.15%	10.97%	-11.99%	-0.05%	-10.75%	14.7%	-3.97%	-36.04%	20.48%	17.16%
Return on Invested Capital (ROIC)	26.91%	13.27%	0.39%	4.03%	-5.27%	9.83%	0.9%	8.2%	11.99%	12.54%
Gross Margin	91.66%	86.64%	66.44%	70.02%	58.89%	71.63%	59.67%	73.98%	75.49%	80.65%
Net Margin	42.82%	21.61%	-15.13%	-0.07%	-22.33%	16.45%	-6.32%	-67.41%	17.33%	17.19%
Debt / Equity	-	1.15x	1.33x	0.78x	0.65x	0.64x	0.58x	2.44x	1.67x	1.22x
Interest Coverage	-	55.72x	0.18x	1.95x	-2.72x	5.24x	0.65x	3.57x	2.33x	2.71x
FCF Conversion	1.25x	2.60x	-2.60x	-467.59x	-2.71x	2.91x	-4.23x	-0.62x	2.27x	3.29x
Revenue Growth	-1.98%	-5.03%	43.98%	8.67%	-31.04%	218.5%	-1.61%	-49.99%	-11.42%	-3.28%

Revenue by Segment

	2021	2022	2023	2024
Media Platform	-	-	343.41M	357.46M
Media Platform Growth	-	-	-	4.09%
Semiconductor	-	-	45.38M	18.56M
Semiconductor Growth	-	-	-	-59.10%
Product Licensing	486.48M	-	-	-
Product Licensing Growth	-	-	-	-
Intellectual Property Licensing Revenue	391.21M	-	-	-
Intellectual Property Licensing Revenue Growth	-	-	-	-

Revenue by Geography

	2021	2022	2023	2024
UNITED STATES	545.85M	366.53M	293.67M	303.3M
UNITED STATES Growth	-	-32.85%	-19.88%	3.28%
Asia	-	-	70.78M	49.54M
Asia Growth	-	-	-	-30.02%
CANADA	-	-	14.73M	12.96M
CANADA Growth	-	-	-	-12.00%
Europe And Middle East	64.35M	6.06M	7.85M	8.39M
Europe And Middle East Growth	-	-90.59%	29.58%	6.88%
Other Asia	108.53M	31.98M	1.75M	1.84M
Other Asia Growth	-	-70.53%	-94.52%	5.14%
Korea (South), Won	-	20.54M	-	-
Korea (South), Won Growth	-	-	-	-
JAPAN	89.17M	13.83M	-	-
JAPAN Growth	-	-84.49%	-	-
K R W	69.8M	-	-	-
K R W Growth	-	-	-	-

Frequently Asked Questions

Valuation & Price

Adeia Inc. (ADEA) has a price-to-earnings (P/E) ratio of 33.6x. This suggests investors expect higher future growth.

Growth & Financials

Adeia Inc. (ADEA) reported $379.9M in revenue for fiscal year 2024. This represents a 49% increase from $254.6M in 2011.

Adeia Inc. (ADEA) saw revenue decline by 3.3% over the past year.

Yes, Adeia Inc. (ADEA) is profitable, generating $73.4M in net income for fiscal year 2024 (17.2% net margin).

Dividend & Returns

Yes, Adeia Inc. (ADEA) pays a dividend with a yield of 1.00%. This makes it attractive for income-focused investors.

Adeia Inc. (ADEA) has a return on equity (ROE) of 17.2%. This is reasonable for most industries.

Adeia Inc. (ADEA) generated $191.8M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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