Alphatec Holdings, Inc. (ATEC) intrinsic value & 10-year financials
Alphatec Holdings, Inc. (ATEC) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 10 fiscal years revenue grew 22.8% a year to $764.2M, with an average return on invested capital of -55.4%.
- Graham intrinsic value
- —
- Share price (Oct 17, 2026)
- $10.46
- Market cap
- $1.6B
- Revenue (FY2025)
- $764.2M
- Revenue growth (10-yr CAGR)
- 22.8%
- ROIC (10-yr avg)
- -55.4%
- Free cash flow (FY2025)
- $2.8M
ATEC 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $764.2M | -$143.4M | -$0.96 | $2.8M | -10.7% | -18.4% |
| FY2024 | $611.6M | -$162.1M | -$1.13 | -$127.9M | -22.3% | -32.3% |
| FY2023 | $482.3M | -$186.6M | -$1.54 | -$159.0M | -36.0% | -52.2% |
| FY2022 | $350.9M | -$152.1M | -$1.47 | -$124.6M | -41.9% | -57.3% |
| FY2021 | $243.2M | -$144.3M | -$1.50 | -$142.0M | -52.7% | -84.4% |
| FY2020 | $144.9M | -$79.0M | -$1.18 | -$69.5M | -40.6% | -106.9% |
| FY2019 | $113.4M | -$57.0M | — | -$46.2M | -41.7% | -116.6% |
| FY2018 | $91.7M | -$29.0M | -$1.20 | -$32.1M | -24.5% | -220.3% |
| FY2017 | $101.7M | -$2.3M | -$1.08 | -$16.3M | -8.8% | 60.4% |
| FY2016 | $120.2M | -$29.9M | -$3.49 | -$18.9M | -12.8% | 74.0% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Alphatec Holdings, Inc. is a consistent compounder, expanding top-line revenue at 22.8% annually over the past decade.
Alphatec Holdings, Inc. has historically struggled to out-earn its cost of capital, averaging just -33.6% ROIC.
Over the decade, Alphatec Holdings, Inc. shows that the company has leveraged its balance sheet to sustain operations.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Alphatec Holdings, Inc. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-31.89 per share.