Anterix Inc. (ATEX) intrinsic value & 10-year financials
Anterix Inc. (ATEX) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 10 fiscal years revenue grew 6.1% a year to $6.0M, with an average return on invested capital of -21.6%.
- Graham intrinsic value
- —
- Share price (Oct 17, 2026)
- $80.48
- Market cap
- $1.5B
- Revenue (FY2025)
- $6.0M
- Revenue growth (10-yr CAGR)
- 6.1%
- ROIC (10-yr avg)
- -21.6%
- Free cash flow (FY2025)
- -$29.4M
ATEX 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $6.0M | -$11.4M | -$0.61 | -$29.4M | -194.2% | -10.8% |
| FY2024 | $4.2M | -$9.1M | -$0.49 | $41.7M | -241.5% | -8.3% |
| FY2023 | $1.9M | -$16.3M | -$0.87 | -$29.4M | -857.8% | -14.7% |
| FY2022 | $1.1M | -$37.5M | -$2.07 | $16.9M | -3399.3% | -39.7% |
| FY2021 | $921.0K | -$54.4M | -$3.13 | -$10.2M | -5951.0% | -50.9% |
| FY2020 | $1.6M | -$37.6M | -$2.29 | -$31.4M | -2390.2% | -32.6% |
| FY2019 | $6.5M | -$42.0M | — | -$23.8M | -657.7% | -22.3% |
| FY2018 | $6.4M | -$30.6M | — | -$22.9M | -499.2% | -14.5% |
| FY2017 | $4.8M | -$39.2M | — | -$28.1M | -684.8% | -13.4% |
| FY2016 | $3.5M | -$21.8M | — | -$28.9M | -618.9% | -8.3% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Anterix Inc. has demonstrated mature, steady growth, with revenue compounding at 6.1% annually over the past decade.
Anterix Inc. has historically struggled to out-earn its cost of capital, averaging just -21.6% ROIC.
Anterix Inc. capital allocation metrics are N/A for the decade; share count and net debt history are incomplete.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Anterix Inc. is modeled at 6.1% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-10.88 per share.