ADT Inc. is a provider of security, interactive, and smart home automation solutions primarily serving residential and small business customers in the United States. The company offers monitored intrusion detection, fire detection, video surveillance, and access control systems. Distinctively, ADT operates a highly recurring revenue model through its professional monitoring services and has strategic partnerships with companies like Google and State Farm to integrate smart home technologies and insurance offerings.
Financial Statements
In thousands, USD
FY 2025
FY 2024
FY 2023
FY 2022
Total Revenues
5,128,607
4,898,446
4,652,824
4,381,904
Cost of Sales
982,972
847,114
751,682
698,782
Gross Profit
4,145,635
4,051,332
3,901,142
3,683,122
Selling, General & Administrative Expenses
1,469,518
1,500,470
1,386,697
1,348,281
Depreciation & Amortization Expenses
1,367,216
1,342,798
1,335,484
1,599,810
Other Operating Expenses
—
—
—
9,937
Operating Profit
1,308,901
1,208,064
1,178,961
725,094
Interest and Investment Income
—
—
6,572
—
Non-Operating Income
(475,089)
(392,894)
(574,578)
(320,636)
Total Non-Operating Income
(475,089)
(392,894)
(568,006)
(320,636)
Income Before Provision for Income Taxes
833,812
815,170
604,383
404,458
Provision for Income Taxes
233,294
195,780
160,585
87,692
Consolidated Net Income
600,518
619,390
450,370
316,766
Net Income Attributable to Discontinued Operations
(4,567)
(118,337)
12,639
—
Net Income Attributable to Common Shareholders
595,951
501,053
463,009
316,766
Basic EPS
0.72
0.69
0.49
0.35
Diluted EPS
0.68
0.66
0.47
0.33
Basic Weighted Average Shares Outstanding
777,822
846,521
856,843
915,069
Diluted Weighted Average Shares Outstanding
841,176
908,700
919,149
915,069
Shares Outstanding
819,946
891,334
922,177
916,843
FY 2025
FY 2024
FY 2023
FY 2022
Cash and Cash Equivalents
80,817
96,212
14,621
257,223
Total Cash and Cash Equivalents
80,817
96,212
14,621
257,223
Accounts Receivable
384,909
393,511
370,201
334,556
Total Trade Receivables
384,909
393,511
370,201
334,556
Inventories
201,778
196,731
201,394
237,334
Other Current Assets
278,048
318,466
418,478
892,883
Total Current Assets
945,552
1,004,920
1,004,694
1,721,996
Net Property, Plant & Equipment
3,034,277
3,228,344
3,259,594
3,224,731
Net Intangible Assets
4,817,996
4,854,099
4,877,493
4,926,964
Goodwill
4,885,574
4,903,899
4,903,899
5,430,427
Other Long-Term Assets
2,135,112
2,059,695
1,918,414
2,517,118
Total Assets
15,818,511
16,050,957
15,964,094
17,821,236
Accounts Payable
106,980
153,537
277,201
417,860
Accrued Expenses
336,723
634,904
556,114
776,739
Current Portion of Long-Term Debt
310,204
195,791
312,061
857,624
Unearned Revenue
243,724
247,785
255,221
309,907
Other Current Liabilities
15,317
31,763
79,611
298,973
Total Current Liabilities
1,012,948
1,263,780
1,480,208
2,661,103
Long-Term Debt
7,379,430
7,511,282
7,513,456
8,946,719
Other Long-Term Liabilities
3,647,523
3,475,094
3,181,784
2,820,266
Total Long-Term Liabilities
11,026,953
10,986,376
10,695,240
11,766,985
Total Liabilities
12,039,901
12,250,156
12,175,448
14,428,088
Common Stock
8,199
8,913
9,221
9,168
Additional Paid-in Capital
6,679,222
7,117,098
7,413,305
7,380,759
Accumulated Other Comprehensive Income
(1,556)
(7,036)
(16,162)
(47,200)
Retained Earnings
(2,907,255)
(3,318,174)
(3,617,718)
(3,949,579)
Total Common Shareholders' Equity
3,778,610
3,800,801
3,788,646
3,393,148
Total Shareholders' Equity
3,778,610
3,800,801
3,788,646
3,393,148
Total Liabilities and Shareholders' Equity
15,818,511
16,050,957
15,964,094
17,821,236
FY 2025
FY 2024
FY 2023
FY 2022
Net Income
595,951
501,053
463,009
132,663
Depreciation & Amortization
1,367,234
1,344,696
1,388,671
1,693,575
Share-Based Compensation Expense
54,553
48,613
51,137
66,566
Other Adjustments
425,446
(376,086)
847,251
9,895
Changes in Trade Receivables
(3,104)
65,597
77,461
(35,447)
Changes in Inventories
—
—
—
(67,391)
Changes in Accounts Payable
(51,818)
(109,330)
(111,529)
8,662
Changes in Accrued Expenses
(218,062)
(47,916)
(211,083)
8,735
Changes in Other Operating Activities
(276,480)
(200,380)
(198,096)
(63,864)
Cash from Operating Activities
1,884,163
1,884,899
1,657,726
1,887,920
Capital Expenditure
(571,733)
(686,951)
(806,888)
(911,299)
Purchases of Intangible Assets
(596,483)
(585,809)
(588,638)
(621,695)
Proceeds from Business Divestments
50,557
(17,506)
1,609,347
26,749
Other Investing Activities
(115)
(5,162)
28,672
(26,539)
Cash from Investing Activities
(1,117,774)
(1,295,428)
242,493
(1,532,784)
Issuance of Short-Term Debt
269,010
228,569
281,647
276,826
Repayments of Short-Term Debt
(233,853)
(256,672)
(200,385)
(121,061)
Net Issuance / (Repayments) of Short-Term Debt
35,157
(28,103)
81,262
155,765
Issuance of Long-Term Debt
2,952,072
1,068,907
867,178
550,035
Repayments of Long-Term Debt
(3,012,376)
(1,186,045)
(2,961,798)
(605,059)
Net Issuance / (Repayments) of Long-Term Debt
(60,304)
(117,138)
(2,094,620)
(55,024)
Issuance of Common Shares
—
—
—
1,180,000
Repurchases of Common Shares
(606,767)
(240,556)
—
(1,200,000)
Net Issuance / (Repurchases) of Common Shares
(606,767)
(240,556)
—
(20,000)
Common Share Dividends Paid
(186,774)
(182,266)
(128,587)
(127,125)
Other Financing Activities
(43,226)
52,707
(1,904)
31,551
Cash from Financing Activities
(861,914)
(515,356)
(2,143,849)
(14,833)
Increase / (Decrease) in Cash, Cash Equivalents and Restricted Cash