ADT (ADT) FY2025 results: revenue $5.1 billion, up 4.7% on the year
ADT Inc. (ADT) reported revenue of $5.1 billion for fiscal 2025, the year ended 31 December 2025, up 4.7% on the year before. Net income was $596 million, up 18.9%, and diluted earnings per share $0.67. The figures are the company's own, from the 10-K it filed with the SEC on 2 March 2026.
Revenue
$5.1 billion
+4.7% on the year
FY2018FY2025
Operating margin
25.5%
24.7% a year earlier
FY2018FY2025
Net income
$596 million
+18.9% on the year
FY2018FY2025
Diluted EPS
$0.67
+28.8% on the year
FY2018FY2025
this yearthe year beforeHover a bar for its figure.
The year in brief
What management said about the year
Guidance figures: 8 new, 1 kept.
Revenue up 5% for the year: Full-year revenue was $5,129 million, up 5% from $4,898 million. Fourth-quarter revenue was $1,276 million, up 1%, with monitoring revenue flat.
Adjusted EPS up 19% for year: Adjusted income from continuing operations was $750 million, or $0.89 per diluted share, up $65 million. Adjusted EPS was $0.75 in 2024.
Adjusted free cash flow up 16%: Adjusted Free Cash Flow including interest rate swaps was $863 million for 2025, up 16%. Operating cash flow of $1,884 million was flat on the prior year.
Origin AI acquired in February: ADT acquired Origin AI in February 2026 to add ambient sensing for privacy-preserving security and smart home uses. It also set up a licensing agreement with Verisure.
2026 revenue and EPS flat: For 2026 the company expects adjusted free cash flow growth of about 20% versus the prior year, with revenue and Adjusted EPS approximately flat.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2025
FY2024
FY2023
On the year
Last 8 years
Operating cash flow
1,884
1,885
1,658
-0.0%
Capital expenditure
176
164
176
+7.3%
Free cash flow
1,708
1,721
1,481
-0.7%
Free cash flow margin
33.3%
35.1%
31.8%
Cash from investing
-1,118
-1,295
242
Cash from financing
-862
-515
-2,144
Depreciation and amortisation
1,367
1,343
1,335
+1.8%
Share-based compensation
54.6
48.6
51.1
+12.2%
Buybacks
607
241
0.0
+152.2%
Dividends paid
187
182
129
+2.5%
Dividend per share
$0.22
$0.22
$0.14
0.0%
Balance sheet
$ million
FY2025
FY2024
FY2023
On the year
Last 8 years
Shareholders' equity
3,779
3,801
3,789
-0.6%
Debt
7,799
7,792
7,937
+0.1%
Operating lease liabilities
81.3
77.9
80.2
+4.4%
Finance lease liabilities
25.1
43.8
43.7
-42.8%
Other liabilities
4,134
4,337
4,114
-4.7%
Total liabilities and equity
15,819
16,051
15,964
-1.4%
Fixed assets
243
247
254
-1.5%
Goodwill
4,886
4,904
4,904
-0.4%
Intangible assets
4,818
4,854
4,877
-0.7%
Cash and equivalents
80.8
96.2
14.6
-16.0%
Receivables
385
394
370
-2.2%
Other assets
5,406
5,556
5,544
-2.7%
Total assets
15,819
16,051
15,964
-1.4%
10-K for the year ended 31 December 2025, filed 2 March 2026: the filing.