Adeia Inc. key statistics and ratios

In fiscal 2025, Adeia Inc. had return on equity of 25.3%, an operating margin of 39.5%, debt equal to 88.8% of equity and a current ratio of 3.81. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Adeia Inc.: financial ratios, annual
Fiscal year	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMJun 2026
Operating margin	5.9%	−24.5%	51.8%	30.4%	34.9%	35.0%	34.2%	39.5%	41.6%
Net margin	−0.1%	−22.3%	28.4%	−14.2%	−67.4%	17.3%	17.2%	25.1%	26.1%
Free-cash-flow margin	32.5%	57.3%	81.5%	56.5%	38.8%	38.3%	56.0%	35.2%	40.0%
Return on equity	−0.0%	−10.7%	14.6%	−4.0%	−35.8%	20.5%	17.2%	25.3%	25.6%
Return on assets	—	−6.0%	7.8%	−2.1%	−16.1%	5.8%	5.9%	10.4%	12.0%
Asset turnover	—	0.27	0.28	0.15	0.24	0.34	0.34	0.41	0.46
Current ratio	—	5.84	2.43	2.74	1.55	2.02	3.53	3.81	3.25
Debt to equity	0.0%	61.1%	60.0%	58.5%	248.6%	168.6%	122.8%	88.8%	82.3%
Interest cover (operating income ÷ interest)	0.9x	n/m	7.1x	3.1x	3.4x	2.2x	2.4x	4.3x	5.4x
Effective tax rate	—	—	−6.8%	6.6%	−26.1%	15.8%	20.4%	21.2%	26.3%
R&D as % of revenue	25.8%	39.6%	6.8%	10.1%	10.2%	14.0%	15.8%	15.2%	15.2%
SG&A as % of revenue	30.2%	42.0%	26.5%	33.0%	30.9%	24.5%	27.5%	27.0%	25.4%
Capital spending as % of revenue	0.8%	3.1%	1.4%	3.6%	2.9%	1.0%	0.5%	0.4%	0.5%
Free cash flow ÷ net income	—	—	286.3%	—	—	221.1%	326.0%	140.7%	153.7%
Dividends ÷ net income	—	—	21.0%	—	—	31.7%	33.7%	19.6%	17.9%
Dividends and buybacks ÷ free cash flow	63.7%	27.4%	26.5%	47.9%	22.4%	14.3%	19.2%	27.6%	27.6%

US$ thousands unless shown otherwise. Fiscal quarters.

Adeia Inc.: financial ratios, quarterly
Quarter	2024 Q3Sept 2024	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026
Operating margin	32.7%	48.2%	26.0%	19.1%	30.9%	59.5%	33.2%	26.4%
Net margin	22.4%	30.2%	13.5%	19.5%	10.1%	40.4%	21.7%	18.1%
Free-cash-flow margin	16.6%	89.7%	64.9%	26.7%	19.5%	32.5%	55.4%	56.3%
Current ratio	3.42	3.53	2.94	3.09	3.72	3.81	3.44	3.25
Debt to equity	138.7%	119.9%	117.9%	111.4%	106.0%	87.1%	83.9%	80.9%
R&D as % of revenue	17.2%	13.5%	18.8%	18.5%	18.4%	10.5%	17.4%	19.1%
SG&A as % of revenue	31.2%	23.4%	32.4%	37.5%	28.5%	18.6%	28.5%	32.2%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

3 of 7 checks passed · June 30, 2026

What it owns · $1.0bn

Short-term assets $295mLonger-term assets $718m

What it owes, and who funded it · $1.0bn

Short-term liabilities $91mLonger-term liabilities $445mShareholders' equity $477m

Short-term assets cover short-term liabilities $295m of assets due within a year against $91m of liabilities due within a year.
Short-term assets cover long-term liabilities $295m short-term assets against $445m of longer-dated liabilities.
More cash than debt $73m of cash against $386m of debt.
Debt below 40% of shareholders' equity Debt is 81% of equity.
Debt burden no higher than five years ago Debt to equity moved from 54% to 81% over five years.
A year's operating cash flow covers at least 20% of debt $191m of operating cash flow against $386m of debt.
Operating profit covers interest at least five times over Operating income of $196m against $36m of interest.

From Adeia Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

38 /100

Weak moat

How hard Adeia's competitive advantage looks for rivals to wear away, judged from 7 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

Returns on capital 5 / 20

Net income has been a median 4.3% of total assets over 7 years.
Durability 10 / 20

Operating margin has been a median 31.0%; its worst year was -5.8%.
Cash conversion 20 / 20

Free cash flow was positive in 7 of 7 years, at a median 41.2% of revenue.
Discipline 8 / 20

The diluted share count rose 5.4% over five years; stock-based pay has been a median 7.8% of revenue.

AI disruption exposure: High. In this industry, the core product is information work that AI systems increasingly perform. The score above includes a 15-point deduction for that exposure (53 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

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Figures from Adeia Inc.'s SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Adeia Inc.