QualityDipStocks / Telecommunications · Telecommunications Equipment
Anterix ATEX
Outside our quality screen, so we don’t track its dips. It’s 24% below its 52-week high.
Outside our quality screen, trading well above our fair value estimate.
Worth knowing
- Down 27% from its 52-week high while revenue grew 19%
From the data on this page, as of the last close. How we pick these
- Fair value est.
- $16.71−80%
- Market Value
- $84.50price −3%
- Off 52-wk high
- −24%
- Risk vs market
- Highbeta 1.59
52-week range 71% of the way from its 52-week low to its high
Price $82.21Fair value est. $16.71Market Value $84.50
3 bullish · 5 bearish See why
Repriced or dip?
Dip: business intact
The price is 24% below its 52-week high (Jul 1), but the business held up: revenue +8.3%, revenue growth rate +11.1 pts, free cash flow +94.0%.
Some numbers held up (revenue +8.3%, revenue growth rate +11.1 pts, free cash flow +94.0%), others slipped (earnings per share −30.7%, shares outstanding more shares, each owns less). The price is 24% below its 52-week high.
The price is 24% below its 52-week high, and the business changed too: earnings per share −30.7%, shares outstanding more shares, each owns less.
Within 10% of its 52-week high, so there is no dip to judge yet.
The evidence 8 numbers, high vs now
- Revenue, last 12 months$7M → $7M (+8.3%)held up
- Revenue growth rate+7.8% → +18.9% a year (+11.1 pts)held up
- Earnings per share, 12 months$4.83 → $3.35 (−30.7%)changed
- Free cash flow, 12 months$5M → $11M (+94.0%)held up
- Shares outstanding+4.6% (more shares, each owns less)changed
- Stock vs its sector (Telecommunications)stock −24%, sector median −7% since Jul 1about the same
- Price fall vs business numbersprice −24%, revenue/EPS/FCF median +8% (shown, not scored)
- Valuation multipleP/FCF 370.3× at the high → 151.8× now (shown, not scored)
Business numbers as reported at the high (12 months to Mar 31, 2026) vs the latest filing (12 months to Jun 30, 2026). Each measure is scored from −1 (business changed) to +1 (business intact) and weighted: revenue, earnings per share, free cash flow, operating margin, revenue growth rate, share count, net cash and the move vs its sector. 60 or more reads as a dip, 40 or less as a repricing. Analyst estimates are not in our data, so they are not used. How to read it
Data-based read, not advice.
Priced in
How much growth the market assumed at the 52-week high, the low and today (a reverse DCF).
At the high ($108.21, Jul 1) the price assumed about 66%/yr free-cash-flow growth; today about 46%. The last 3 years delivered 50%/yr (revenue).
Dashed line: what the last 3 years delivered, 50%/yr (revenue)
| High | Low | Now | |
|---|---|---|---|
| Price | $108.21Jul 1 | $17.99Nov 6 | $82.21 |
| Implied growth | +66% | n/a | +46% |
| P/E | 22.4× | 11.5× | 24.6× |
| P/FCF | 370.3× | — | 151.8× |
What this means: the higher the implied growth, the more the price already counts on. If today's number sits well below what the business has delivered, the market expects less than its track record.
How it’s computed
Reverse DCF: the same 10-year free-cash-flow model as our fair value estimate (9.5% discount rate, growth for years 1–5 fading to 3% by year 10, 3% after), solved for the growth that makes it equal the market value at each price. For the high and the low we use only the filings that were public on that day, so nothing from a later report leaks back. Market value = that close × diluted shares. P/E = market value / 12-month net income; Price / FCF = market value / 12-month free cash flow; EV / Sales = (market value + debt − cash) / 12-month revenue. Hidden when the share count moved over 20% (split, merger), free cash flow is negative, or the company reports in another currency.
Valuation
What we estimate it's worth, and how it ranks on value vs every stock we cover.
Fair value estimate
How the range is computed
Ten-year free-cash-flow DCF. Same 10-year free-cash-flow model as the base: discount rate 9.5% ±1 point and growth 15.0% ±2 points. Bear = 10.5% and 13.0%; bull = 8.5% and 17.0% (both fade to 3%). A model estimate from public filings, not a forecast of where the price will go.
Price is above even the bull case.
What the price implies To be worth today’s price, ATEX’s free cash flow would need to grow about 46% a year for five years; our estimate uses 15%.
Risk vs market
How risk vs market is measured
One year of daily returns (Oct 31 to Nov 2, 252 sessions). Beta = how much ATEX moved for each 1% move in the S&P 500 (SPY); 1.0 moves with the market. Volatility is the yearly standard deviation of daily returns. Past behavior, not a forecast.
Swings much more than the market, and its own price swings are 5.1× the S&P 500’s.
- Beta vs S&P 500
- 1.59
- Volatility
- 65% vs 13% SPY
- Correlation SPY
- 0.31
- Correlation QQQ
- 0.36
How it ranks
Where ATEX stands vs every one of the 2,467 stocks we cover that has the number. Longer bar = better.
Not in the top quarter on any of these 4 measures
- Discount to fair value estimate80% · price above our base caseLowest 1%of 1,507
- Free cash flow yield0.7% · free cash flow vs market capLowest 22%of 1,690
- Dividends + buybacks yield0% · cash paid out or used to retire shares, vs market capLowest 1%of 2,227
- Revenue growth, last 12 months+19% · vs the 12 months beforeTop 27%of 2,184
From SEC filings and our fair value estimate model. A ranking, not advice.
Valuation details
DCF $16.71 · MV $84.50
Assumes 15.0% growth for 5 years (revenue grew 50.2% a year FY23–FY26; capped at 15%), fading to 3%; 9.5% discount rate, 3% terminal growth. FCF base $0.54 a share (trailing 12 months to Jun 30, 2026), from the 10-Q filed Aug 11, 2026.
Fundamentals
The business itself: sales, profits, cash and debt, from SEC filings.
Bull vs bear
Rule-based from the data on this page, strongest first. Not advice.
Top bullish points 3 of 5
ProfitabilityGross margin widened to 100.0% in FY2023 from −74.4% in FY2021 (SEC filings).
ProfitabilityOperating margin widened to −194.2% in FY2025 from −1880.6% in FY2024 (SEC filings).
ProfitabilityReturn on equity of 28% over the last 12 months, up 40 points in two years.
Top bearish points 5 of 5
ValuationOur DCF fair value estimate is $16.71, 80% below the price.
ValuationFree-cash-flow yield is just 0.7% (price / FCF 152×), so the price leans on future growth.
Cash returnsShare count up 4.9% in a year: existing holders are being diluted.
ValuationP/E of 24.6×, above the 15.6× median for the 30 Telecommunications companies we cover.
RiskReports earnings Nov 10 (consensus EPS ($0.45)): results can move the price sharply and reset Market Value.
All fundamentals
P/E 24.6 · FCF yield 0.7% · ROE 28%
Valuation
- P/E
- 24.6×Telecommunications median 15.6×
- Price / FCF
- 151.8×
- FCF yield
- 0.7%
- EV / EBITDA
- n/aD&A or debt not tagged in SEC data
- Price / sales
- n/aneeds total revenue: the SEC revenue tag covers only part of this company's revenue (it is under 1.5x net income)
- Price / book
- 5.65×
- Market cap
- $1.6Bprice × diluted shares
- Enterprise value
- n/anot reported in its SEC filings
Growth
- Revenue, 12 months
- n/athe SEC revenue tag covers only part of this company's revenue (it is under 1.5x net income)
- Sales growth, 12 months
- n/aneeds total revenue: the SEC revenue tag covers only part of this company's revenue (it is under 1.5x net income)
- Sales growth, 3 yrs
- n/aneeds total revenue: the SEC revenue tag covers only part of this company's revenue (it is under 1.5x net income)
- Diluted EPS, 12 months
- $3.49
- EPS growth, last FY
- n/afewer than two years of diluted EPS
- Net income, 12 months
- $66M
- Net income growth
- +124%12 months vs before
Profitability
- Gross margin
- n/agross profit isn't reported (common for service and financial companies)
- Operating margin
- n/an/m
- Net margin
- n/aneeds total revenue: the SEC revenue tag covers only part of this company's revenue (it is under 1.5x net income)
- FCF margin
- 151.0%
- Return on equity
- 28%
- Return on invested capital
- n/aoperating income, debt, equity or cash not tagged
Balance sheet
- Cash & short-term inv.
- $116M
- Total debt
- n/anot reported in its SEC filings
- Net cash
- n/acash or debt not tagged in SEC data
- Debt / equity
- n/adebt or equity not tagged in SEC data
- Interest coverage
- n/ainterest expense not tagged in SEC data
Cash flow & returns
- Free cash flow, 12 months
- $11M
- FCF growth, 12 months
- n/anot reported in its SEC filings
- Dividend yield
- 0%
- Payout ratio
- n/anot reported in its SEC filings
- Buybacks, 12 months
- n/anot reported in its SEC filings
- Share count, 1 year
- +4.9%diluted shares vs a year ago
- Stock-based comp
- $11M
Trailing 12 months to Jun 30, 2026; balance sheet at Jun 30, 2026. From Anterix’s SEC filings. Sparklines show up to six fiscal years. n/a means we don’t hold that number, with the reason. How each is computed.
The business
FCF $-0.1B · Sales +38%
- Free cash flow, 12 months−$0.1B
- Free-cash-flow yield0.7%
- Gross margin100%
- Operating marginn/m
- Return on invested capital−18%
- Return on equity28%
- Sales growth (latest quarter vs year-ago quarter)+38%
Chart & levels
Where the price is vs its key levels and trends.
Key levels
Every level vs today’s $82.21
- Fair value est.base case$16.71−79.7%
- 52-wk lowlowest close, 1 year$17.99−78.1%
- PriceMon Nov 2 close$82.21you are here
- Market Valueavg paid since Aug 11$84.50+2.8%
- 52-wk highhighest close, 1 year$108.21+31.6%
Momentum & 52-week range
RSI 49 · 5 days +3.2%
Signals
Reversal signal setups, the public ledger and the next earnings date.
Setup & signals
No setup armed
No setup armed, so there’s no trigger or stop to track yet. Reversal signal rules only run on companies that pass our quality screen.
Next report
Nov 10
- DateTue Nov 10, after the close
- Consensus EPS($0.45)
- Year-ago EPS($0.14)
- QuarterSep/2026
From Nasdaq’s earnings calendar. A report resets Market Value.
ATEX is outside our quality screen
One text when a published rule fires on one of the 332 quality companies we track: the ticker, the price, the stop and a link to the numbers. Nothing else.
Voices & buzz
Who is talking about it, and how it compares with peers.
Who’s talking about it
Notable investors, executives, analysts and public figures on Anterix in the last 48 hours. Headlines as published, each linked. Their words, not ours.
No notable mentions in the last 48 hours. Checked Nov 3, 5:14 PM ET.
Compare with peers
Closest in size in Telecommunications Equipment
Information only, not investment advice. Fair value estimates and talking points are rule-based model output from public data and can be wrong; stop levels are reference points, not orders. How every number is computed.