Anterix (ATEX)
Market Price (5/21/2026): $60.79 | Market Cap: $1.1 BilSector: Communication Services | Industry: Integrated Telecommunication Services
Anterix (ATEX)
Market Price (5/21/2026): $60.79Market Cap: $1.1 BilSector: Communication ServicesIndustry: Integrated Telecommunication Services
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 7.1%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 3.4% Low stock price volatilityVol 12M is 50% Megatrend and thematic driversMegatrends include 5G & Advanced Connectivity, and Smart Grids & Grid Modernization. Themes include Telecom Infrastructure, Wireless Services, Show more. | Trading close to highsDist 52W High is 0.0%, Dist 3Y High is 0.0% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -42 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -703% Expensive valuation multiplesP/SPrice/Sales ratio is 192x Stock price has recently run up significantly6M Rtn6 month market price return is 192%, 12M Rtn12 month market price return is 112% Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 197% Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -448%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -875% Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 183% Key risksATEX key risks include [1] challenges in commercializing its 900 MHz spectrum due to dependencies on clearing incumbent users and securing favorable FCC approvals, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 7.1%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 3.4% |
| Low stock price volatilityVol 12M is 50% |
| Megatrend and thematic driversMegatrends include 5G & Advanced Connectivity, and Smart Grids & Grid Modernization. Themes include Telecom Infrastructure, Wireless Services, Show more. |
| Trading close to highsDist 52W High is 0.0%, Dist 3Y High is 0.0% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -42 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -703% |
| Expensive valuation multiplesP/SPrice/Sales ratio is 192x |
| Stock price has recently run up significantly6M Rtn6 month market price return is 192%, 12M Rtn12 month market price return is 112% |
| Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 197% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -448%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -875% |
| Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 183% |
| Key risksATEX key risks include [1] challenges in commercializing its 900 MHz spectrum due to dependencies on clearing incumbent users and securing favorable FCC approvals, Show more. |
Qualitative Assessment
AI Analysis | Feedback
Anterix (ATEX) stock has gained about 130% since 1/31/2026 because of the following key factors:
1. Groundbreaking FCC Ruling to Expand 900 MHz Band.
Anterix's stock surged following the Federal Communications Commission's (FCC) unanimous adoption of a Report and Order on February 18, 2026, enabling broadband deployment across the full 10 megahertz of the 900 MHz band. This significant regulatory development, for which Anterix had jointly petitioned, expanded the broadband segment from 6 MHz to a 10 MHz 5x5 configuration, unlocking substantial opportunities for mission-critical communications and increasing the asset value and capacity of Anterix's spectrum.
2. Strong Q3 Fiscal 2026 Earnings Beat and Improved Financial Outlook.
The company reported robust third-quarter fiscal 2026 results on February 11, 2026, surpassing analyst expectations. Anterix announced an EPS of -$0.35, outperforming consensus estimates of -$0.57 by $0.22. Additionally, quarterly revenue reached $1.57 million, exceeding the $1.47 million consensus estimate. The company also highlighted a 20% year-over-year reduction in operating expenses and raised its projected cash proceeds for the fiscal year to $120 million.
Show more
1. Groundbreaking FCC Ruling to Expand 900 MHz Band.
Anterix's stock surged following the Federal Communications Commission's (FCC) unanimous adoption of a Report and Order on February 18, 2026, enabling broadband deployment across the full 10 megahertz of the 900 MHz band. This significant regulatory development, for which Anterix had jointly petitioned, expanded the broadband segment from 6 MHz to a 10 MHz 5x5 configuration, unlocking substantial opportunities for mission-critical communications and increasing the asset value and capacity of Anterix's spectrum.
2. Strong Q3 Fiscal 2026 Earnings Beat and Improved Financial Outlook.
The company reported robust third-quarter fiscal 2026 results on February 11, 2026, surpassing analyst expectations. Anterix announced an EPS of -$0.35, outperforming consensus estimates of -$0.57 by $0.22. Additionally, quarterly revenue reached $1.57 million, exceeding the $1.47 million consensus estimate. The company also highlighted a 20% year-over-year reduction in operating expenses and raised its projected cash proceeds for the fiscal year to $120 million.
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Stock Movement Drivers
Fundamental Drivers
The 131.9% change in ATEX stock from 1/31/2026 to 5/20/2026 was primarily driven by a 172.6% change in the company's P/E Multiple.| (LTM values as of) | 1312026 | 5202026 | Change |
|---|---|---|---|
| Stock Price ($) | 26.27 | 60.90 | 131.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 6 | 6 | 0.1% |
| Net Income Margin (%) | 1614.1% | 1370.9% | -15.1% |
| P/E Multiple | 5.1 | 14.0 | 172.6% |
| Shares Outstanding (Mil) | 19 | 19 | 0.0% |
| Cumulative Contribution | 131.9% |
Market Drivers
1/31/2026 to 5/20/2026| Return | Correlation | |
|---|---|---|
| ATEX | 131.9% | |
| Market (SPY) | 7.4% | 33.6% |
| Sector (XLC) | -3.0% | 22.5% |
Fundamental Drivers
The 201.2% change in ATEX stock from 10/31/2025 to 5/20/2026 was primarily driven by a 176.9% change in the company's Net Income Margin (%).| (LTM values as of) | 10312025 | 5202026 | Change |
|---|---|---|---|
| Stock Price ($) | 20.22 | 60.90 | 201.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 6 | 6 | 0.1% |
| Net Income Margin (%) | 495.1% | 1370.9% | 176.9% |
| P/E Multiple | 12.8 | 14.0 | 9.0% |
| Shares Outstanding (Mil) | 19 | 19 | -0.3% |
| Cumulative Contribution | 201.2% |
Market Drivers
10/31/2025 to 5/20/2026| Return | Correlation | |
|---|---|---|
| ATEX | 201.2% | |
| Market (SPY) | 9.3% | 21.1% |
| Sector (XLC) | 1.8% | 3.7% |
Fundamental Drivers
The 104.0% change in ATEX stock from 4/30/2025 to 5/20/2026 was primarily driven by a 103.8% change in the company's P/S Multiple.| (LTM values as of) | 4302025 | 5202026 | Change |
|---|---|---|---|
| Stock Price ($) | 29.85 | 60.90 | 104.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 6 | 6 | 0.5% |
| P/S Multiple | 94.1 | 191.8 | 103.8% |
| Shares Outstanding (Mil) | 19 | 19 | -0.4% |
| Cumulative Contribution | 104.0% |
Market Drivers
4/30/2025 to 5/20/2026| Return | Correlation | |
|---|---|---|
| ATEX | 104.0% | |
| Market (SPY) | 35.2% | 24.3% |
| Sector (XLC) | 23.2% | 11.1% |
Fundamental Drivers
The 92.8% change in ATEX stock from 4/30/2023 to 5/20/2026 was primarily driven by a 260.4% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 4302023 | 5202026 | Change |
|---|---|---|---|
| Stock Price ($) | 31.58 | 60.90 | 92.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 2 | 6 | 260.4% |
| P/S Multiple | 363.2 | 191.8 | -47.2% |
| Shares Outstanding (Mil) | 19 | 19 | 1.3% |
| Cumulative Contribution | 92.8% |
Market Drivers
4/30/2023 to 5/20/2026| Return | Correlation | |
|---|---|---|
| ATEX | 92.8% | |
| Market (SPY) | 85.2% | 25.8% |
| Sector (XLC) | 100.3% | 19.3% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| ATEX Return | 56% | -45% | 4% | -8% | -29% | 169% | 56% |
| Peers Return | 124% | 20% | 13% | -11% | 29% | 93% | 575% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 7% | 96% |
Monthly Win Rates [3] | |||||||
| ATEX Win Rate | 67% | 33% | 50% | 50% | 33% | 100% | |
| Peers Win Rate | 54% | 54% | 54% | 38% | 50% | 90% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 60% | |
Max Drawdowns [4] | |||||||
| ATEX Max Drawdown | -14% | -49% | -25% | -29% | -57% | -13% | |
| Peers Max Drawdown | -51% | -34% | -44% | -45% | -49% | -18% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: IRDM, GSAT. See ATEX Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 5/20/2026 (YTD)
How Low Can It Go
| Event | ATEX | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -38.5% | -18.8% |
| % Gain to Breakeven | 62.6% | 23.1% |
| Time to Breakeven | 319 days | 79 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -20.4% | -6.7% |
| % Gain to Breakeven | 25.7% | 7.1% |
| Time to Breakeven | 83 days | 31 days |
| 2020 COVID-19 Crash | ||
| % Loss | -32.9% | -33.7% |
| % Gain to Breakeven | 49.1% | 50.9% |
| Time to Breakeven | 32 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -13.2% | -19.2% |
| % Gain to Breakeven | 15.2% | 23.8% |
| Time to Breakeven | 3 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -16.2% | -3.7% |
| % Gain to Breakeven | 19.3% | 3.9% |
| Time to Breakeven | 16 days | 6 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -36.4% | -12.2% |
| % Gain to Breakeven | 57.3% | 13.9% |
| Time to Breakeven | 50 days | 62 days |
In The Past
Anterix's stock fell -38.5% during the 2025 US Tariff Shock. Such a loss loss requires a 62.6% gain to breakeven.
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| Event | ATEX | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -38.5% | -18.8% |
| % Gain to Breakeven | 62.6% | 23.1% |
| Time to Breakeven | 319 days | 79 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -20.4% | -6.7% |
| % Gain to Breakeven | 25.7% | 7.1% |
| Time to Breakeven | 83 days | 31 days |
| 2020 COVID-19 Crash | ||
| % Loss | -32.9% | -33.7% |
| % Gain to Breakeven | 49.1% | 50.9% |
| Time to Breakeven | 32 days | 140 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -36.4% | -12.2% |
| % Gain to Breakeven | 57.3% | 13.9% |
| Time to Breakeven | 50 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -45.9% | -6.8% |
| % Gain to Breakeven | 84.7% | 7.3% |
| Time to Breakeven | 72 days | 15 days |
In The Past
Anterix's stock fell -38.5% during the 2025 US Tariff Shock. Such a loss loss requires a 62.6% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Anterix (ATEX)
Anterix Inc. operates as a wireless communications company. The company focuses on commercializing its spectrum assets to enable the targeted utility and critical infrastructure customers to deploy private broadband networks, technologies, and solutions. It holds licensed spectrum in the 900 MHz band with nationwide coverage throughout the United States, Alaska, Hawaii, and Puerto Rico. The company was formerly known as pdvWireless, Inc. and changed its name to Anterix Inc. in August 2019. Anterix Inc. was incorporated in 1997 and is headquartered in Woodland Park, New Jersey.
AI Analysis | Feedback
Here are 1-3 brief analogies for Anterix (ATEX):
- Anterix is like a Crown Castle or American Tower for dedicated radio spectrum, enabling utilities to build their own private broadband networks.
- Think of Anterix as a specialized 'digital landlord' for the airwaves, providing exclusive 900 MHz spectrum for utility companies to build their own private wireless infrastructure.
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- 900 MHz Licensed Spectrum: Anterix commercializes access to its nationwide licensed spectrum in the 900 MHz band for wireless communications.
- Private Broadband Network Solutions: Anterix enables utility and critical infrastructure customers to deploy and utilize private broadband networks and related technologies.
AI Analysis | Feedback
Anterix (ATEX) primarily sells its spectrum assets and related solutions to other companies, specifically targeting the utility and critical infrastructure sectors. Its major customers, as identified through public announcements and investor communications, are primarily large utility companies focused on deploying private broadband networks for grid modernization and critical operations.
The following are some of Anterix's major customer companies:
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Scott Lang, President and Chief Executive Officer Mr. Lang was appointed President and CEO of Anterix in October 2024. He previously served as Chairman and CEO of Turvo, a logistics software company, from November 2019 to July 2023. Before that, he was the Founding Chairman, CEO, and President of Silver Spring Networks from 2004 to 2015, and later Executive Chairman and Chairman. At Silver Spring Networks, he raised over $200 million in capital and spearheaded the development of the first secure, native IP network for smart electric meters. Silver Spring Networks was subsequently sold to Itron in 2018. Earlier in his career, Mr. Lang held senior roles at Electronic Data Systems and Perot Systems. Elena Marquez, Chief Financial Officer Ms. Marquez was appointed Chief Financial Officer of Anterix in September 2025. Prior to this, she served as Vice President of Finance and Controller at Anterix from 2021 to 2025. She brings over 15 years of finance and accounting experience from public and pre-IPO multinational companies in the financial services and biotech industries. Ms. Marquez led a four-year transformation initiative at Prudential Financial. Her prior experience includes accounting and finance leadership positions at Clinical Genomics, where she rose to Global Controller, and various financial reporting roles at Prudential Financial, as well as auditor roles at UHY Advisors. Chris Guttman-McCabe, Chief Regulatory and Communications Officer Mr. Guttman-McCabe joined Anterix in October 2020, where he leads government relations and communications efforts. He was the founder and CEO of CGM Advisors LLC, a firm that provided consulting on communications, government relations, market analysis, and business development initiatives for Fortune 100 companies and tech startups. Before founding CGM Advisors, Mr. Guttman-McCabe had a 13-year career at CTIA, serving as an executive vice president, spokesperson, and advocate for the wireless industry, during which he testified 19 times before Congress. Ryan Gerbrandt, Chief Operating Officer Mr. Gerbrandt joined Anterix as Chief Operating Officer in March 2020. In this role, he oversees Anterix's sales, product development, marketing, operations, and technology & engineering. Before joining Anterix, he spent 13 years at Trilliant Networks, a communications platforms and applications provider, where he pioneered Smart Grid Deployment efforts and most recently served as Managing Director for their Global Industrial Internet of Things (IIoT) and Smart Cities businesses. He previously held responsibility for utility communications and control systems at Manitoba Hydro. Heather Martin, Chief Marketing Officer and Chief of Staff Ms. Martin joined Anterix in September 2025 in a dual role, where she is responsible for the company's external market strategy and internal strategic execution. Prior to Anterix, she led enterprise-wide transformation efforts for NRG Energy's portfolio of retail energy brands across North America, South Africa, and the Caribbean. Her experience also includes global marketing leadership roles at Bosch (formerly SPX) and senior positions at national advertising agencies, working with global brands such as Dell, Shell Energy, Microsoft, and General Motors.AI Analysis | Feedback
The key risks to Anterix's (ATEX) business are primarily centered around the commercialization and deployment of its 900 MHz spectrum assets for private broadband networks for utilities.
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Spectrum Clearing Costs and Delays: Anterix faces the risk of increasing costs and potential delays associated with clearing its 900 MHz spectrum. This involves making payments to incumbent users for retuning or swaps to free up the spectrum for broadband use. These ongoing and rising expenses can impact deal economics and slow down cash conversion until clearing milestones are completed. Delays by current channel users, such as members of the Association of American Railroads (AAR), in completing their channel clearing could further impede Anterix's ability to commercialize broadband licenses and delay its customers' network deployments.
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Elongated Utility Decision Cycles and License Delivery Delays: The sales cycle for Anterix's spectrum to large utility customers can be lengthy due to extended procurement and deployment processes within these organizations. This "slippage risk" can lead to delays in achieving milestone-based collections, recognizing revenue, and receiving anticipated cash inflows. The delivery of county-level licenses also contributes to this timing risk, potentially pushing out the schedules for cash conversion and network deployments.
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Competition: Anterix operates in a competitive landscape, and its targeted utility and critical infrastructure customers may consider alternative solutions. The National Public Safety Broadband Network (NPSBN), also known as "FirstNet," could offer an additional source of competition to Anterix's 900 MHz spectrum assets.
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AI Analysis | Feedback
Anterix (ATEX) operates in the United States, Alaska, Hawaii, and Puerto Rico, focusing on providing private broadband networks to utility and critical infrastructure customers utilizing its licensed 900 MHz spectrum.
The addressable markets for Anterix's main products and services are primarily in the U.S. and include:
- Anterix's pipeline of opportunities for private broadband networks for utilities is valued at over $3 billion, with $1 billion in near-term opportunities across 18 utilities in the U.S.
- The company's recently launched TowerX and CatalyX solutions have a combined Total Addressable Market (TAM) of approximately $1 billion in the U.S.
- The U.S. private LTE and 5G network market for licensed projects, which aligns with Anterix's offerings, is projected to grow from USD 1.28 billion in 2025 to USD 4.64 billion by 2031. This market serves critical infrastructure sectors, including defense installations, utility substations, and hospitals.
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Anterix (ATEX) is poised for future revenue growth over the next 2-3 years, driven by several key factors:
- Expansion of 900 MHz Broadband Spectrum and Deployments: A significant catalyst for Anterix is the Federal Communications Commission's (FCC) unanimous decision in February 2026 to expand the 900 MHz broadband segment from 6 MHz to 10 MHz in a 5x5 configuration. This expansion is expected to unlock higher-capacity, low-band private broadband for mission-critical uses across utilities and critical infrastructure sectors, positioning 900 MHz as a foundational layer for private operational connectivity and improving performance and economics for private broadband networks. This regulatory development is anticipated to accelerate the adoption and deployment of Anterix's spectrum.
- Success of the Anterix Accelerator Program and Deployment-Focused Services: Anterix's Accelerator program, which offers matching spectrum value to expedite utility adoption of 900 MHz private LTE, is generating substantial interest. The program is reportedly oversubscribed, with potential contracts exceeding $500 million, signaling strong demand within the utility sector. This initiative, along with a broader strategy to provide deployment-focused services and cultivate a partner ecosystem, is designed to mitigate implementation risks and support the long-term operations of utilities, thereby driving spectrum monetization.
- Monetization of a Robust Customer Pipeline: Anterix has identified a substantial pipeline valued at approximately $3 billion, encompassing over 60 potential customers, primarily in the utility sector. The company has already secured eight flagship customers with contracts totaling around $400 million, establishing a solid foundation for future revenue. Converting these prospective contracts into active deployments is expected to be a significant driver of revenue growth.
- Introduction and Growth of New Products and Services: Anterix has launched new solutions, such as TowerX and CatalyX, aimed at streamlining deployments and creating opportunities for recurring revenue streams. These new offerings, including services like tower access and SIM management, are designed to address friction points in utility deployments and expand the company's service portfolio beyond core spectrum licensing. The company believes these initiatives can tap into a $1 billion annual market opportunity.
- Increasing Utility Adoption of Private Broadband Networks: A fundamental shift is occurring in the utility industry, where communications systems are increasingly viewed as essential components of grid infrastructure. Utilities are opting for secure, self-managed private broadband networks to modernize their grids, enhance field automation, improve outage detection, and integrate new technologies safely. Anterix is positioned to capitalize on this trend by leveraging its 900 MHz spectrum to enable these critical utility-controlled private broadband networks.
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Share Repurchases
- In September 2021, Anterix's Board of Directors authorized a share repurchase program for up to $50 million over a two-year period.
- As of March 31, 2025, Anterix had an authorized share repurchase program for up to $250.0 million of its common stock, set to expire on or before September 21, 2026.
- Anterix repurchased $24.7 million of shares in fiscal year 2024 and $8.4 million in fiscal year 2025.
Share Issuance
- Anterix received $1.691 million in proceeds from stock option exercises for the fiscal year ended March 31, 2025.
- For the fiscal year ended March 31, 2024, proceeds from stock option exercises amounted to $0.770 million.
Inbound Investments
- In February 2025, Anterix initiated a strategic review process following inbound interest in the company, which was ongoing as of June 2025.
Capital Expenditures
- Anterix invested $17.0 million in spectrum clearing costs during fiscal year 2024.
- For fiscal year 2025, spectrum clearing costs totaled $18.1 million.
- Expected capital expenditures for spectrum clearing include approximately $5 million in the fourth quarter of fiscal year 2025 and $15-20 million in fiscal year 2026.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Anterix Earnings Notes | 12/16/2025 | |
| How Low Can Anterix Stock Really Go? | 10/17/2025 | |
| Anterix (ATEX) Stock: 33% of days in last 3 months had 1% or greater fluctuation | 04/17/2025 | |
| Anterix (ATEX) Operating Cash Flow Comparison | 02/17/2025 | |
| Anterix (ATEX) Net Income Comparison | 02/15/2025 | |
| Anterix (ATEX) Operating Income Comparison | 02/14/2025 | |
| Anterix (ATEX) Revenue Comparison | 02/13/2025 | |
| Anterix vs. S&P500 Correlation | 10/03/2024 | |
| Anterix Price Volatility | 09/24/2024 | |
| Anterix (ATEX) Stock Has 53% Chance Of Rise In The Next One Month | 02/13/2023 |
| Title | |
|---|---|
| ARTICLES |
Trade Ideas
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| 04022026 | TTD | Trade Desk | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | 7.0% | 7.0% | -8.9% |
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| 03062026 | CARG | CarGurus | Insider | Insider Buys | Low D/EStrong Insider BuyingCompanies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap | 8.3% | 8.3% | -8.3% |
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Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 60.90 |
| Mkt Cap | 4.8 |
| Rev LTM | 283 |
| Op Inc LTM | 24 |
| FCF LTM | 288 |
| FCF 3Y Avg | 112 |
| CFO LTM | 411 |
| CFO 3Y Avg | 365 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 4.1% |
| Rev Chg 3Y Avg | 17.7% |
| Rev Chg Q | 1.9% |
| QoQ Delta Rev Chg LTM | 0.5% |
| Op Inc Chg LTM | 18.1% |
| Op Inc Chg 3Y Avg | 45.5% |
| Op Mgn LTM | 8.6% |
| Op Mgn 3Y Avg | 1.5% |
| QoQ Delta Op Mgn LTM | 3.2% |
| CFO/Rev LTM | 46.9% |
| CFO/Rev 3Y Avg | 70.6% |
| FCF/Rev LTM | 34.8% |
| FCF/Rev 3Y Avg | 33.6% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 4.8 |
| P/S | 37.4 |
| P/Op Inc | 21.2 |
| P/EBIT | 21.3 |
| P/E | 14.0 |
| P/CFO | 11.7 |
| Total Yield | 3.5% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 1.8% |
| D/E | 0.0 |
| Net D/E | 0.0 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 8.5% |
| 3M Rtn | 85.2% |
| 6M Rtn | 183.5% |
| 12M Rtn | 111.8% |
| 3Y Rtn | 90.0% |
| 1M Excs Rtn | 0.3% |
| 3M Excs Rtn | 68.5% |
| 6M Excs Rtn | 170.9% |
| 12M Excs Rtn | 91.1% |
| 3Y Excs Rtn | 17.7% |
Price Behavior
Price Behavior
| Market Price | $60.90 | |
| Market Cap ($ Bil) | 1.1 | |
| First Trading Date | 02/03/2015 | |
| Distance from 52W High | 0.0% | |
| 50 Days | 200 Days | |
| DMA Price | $44.35 | $28.92 |
| DMA Trend | up | up |
| Distance from DMA | 37.3% | 110.6% |
| 3M | 1YR | |
| Volatility | 53.4% | 49.9% |
| Downside Capture | 27.23 | 72.25 |
| Upside Capture | 246.18 | 141.35 |
| Correlation (SPY) | 26.4% | 25.7% |
ATEX Betas & Captures as of 4/30/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.70 | 0.93 | 1.27 | 0.80 | 0.89 | 0.77 |
| Up Beta | 0.39 | 0.07 | 0.10 | 0.18 | 0.82 | 0.45 |
| Down Beta | -10.99 | 0.83 | 1.34 | 0.87 | 1.02 | 0.85 |
| Up Capture | 212% | 204% | 334% | 272% | 107% | 79% |
| Bmk +ve Days | 15 | 22 | 31 | 66 | 141 | 428 |
| Stock +ve Days | 16 | 25 | 38 | 75 | 127 | 346 |
| Down Capture | 97% | 70% | 60% | -3% | 77% | 99% |
| Bmk -ve Days | 4 | 18 | 30 | 56 | 108 | 321 |
| Stock -ve Days | 6 | 18 | 26 | 50 | 124 | 399 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ATEX | |
|---|---|---|---|---|
| ATEX | 121.9% | 49.8% | 1.77 | - |
| Sector ETF (XLC) | 15.4% | 13.2% | 0.83 | 11.6% |
| Equity (SPY) | 26.2% | 12.1% | 1.62 | 25.5% |
| Gold (GLD) | 40.2% | 26.8% | 1.24 | 7.9% |
| Commodities (DBC) | 46.2% | 18.7% | 1.89 | -7.3% |
| Real Estate (VNQ) | 11.1% | 13.4% | 0.54 | 16.5% |
| Bitcoin (BTCUSD) | -27.4% | 41.8% | -0.65 | 17.9% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ATEX | |
|---|---|---|---|---|
| ATEX | 5.7% | 43.3% | 0.26 | - |
| Sector ETF (XLC) | 10.1% | 20.7% | 0.40 | 22.3% |
| Equity (SPY) | 14.1% | 17.0% | 0.65 | 27.2% |
| Gold (GLD) | 19.5% | 18.0% | 0.89 | 6.9% |
| Commodities (DBC) | 11.1% | 19.4% | 0.46 | 3.5% |
| Real Estate (VNQ) | 4.0% | 18.8% | 0.11 | 31.6% |
| Bitcoin (BTCUSD) | 9.1% | 55.6% | 0.37 | 15.2% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ATEX | |
|---|---|---|---|---|
| ATEX | 5.4% | 50.3% | 0.29 | - |
| Sector ETF (XLC) | 9.6% | 22.2% | 0.50 | 29.8% |
| Equity (SPY) | 15.5% | 17.9% | 0.74 | 33.0% |
| Gold (GLD) | 13.1% | 16.0% | 0.68 | 4.3% |
| Commodities (DBC) | 7.9% | 17.9% | 0.36 | 7.0% |
| Real Estate (VNQ) | 5.4% | 20.7% | 0.23 | 30.4% |
| Bitcoin (BTCUSD) | 67.1% | 66.9% | 1.06 | 10.9% |
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Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 2/11/2026 | -1.4% | 16.0% | 24.6% |
| 11/12/2025 | 13.7% | 13.8% | 17.7% |
| 6/24/2025 | -6.9% | -13.2% | -26.3% |
| 2/11/2025 | -0.7% | 16.1% | 3.3% |
| 11/13/2024 | -5.0% | -1.6% | -0.3% |
| 6/26/2024 | 17.0% | 25.3% | 29.8% |
| 2/14/2024 | 21.8% | 24.2% | 11.5% |
| 11/13/2023 | 9.3% | 12.1% | 23.6% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 5 | 6 | 6 |
| # Negative | 4 | 3 | 3 |
| Median Positive | 13.7% | 16.0% | 20.6% |
| Median Negative | -3.2% | -3.2% | -8.1% |
| Max Positive | 21.8% | 25.3% | 29.8% |
| Max Negative | -6.9% | -13.2% | -26.3% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 12/31/2025 | 02/11/2026 | 10-Q |
| 09/30/2025 | 11/12/2025 | 10-Q |
| 06/30/2025 | 08/12/2025 | 10-Q |
| 03/31/2025 | 06/24/2025 | 10-K |
| 12/31/2024 | 02/11/2025 | 10-Q |
| 09/30/2024 | 11/13/2024 | 10-Q |
| 06/30/2024 | 08/06/2024 | 10-Q |
| 03/31/2024 | 06/26/2024 | 10-K |
| 12/31/2023 | 02/14/2024 | 10-Q |
| 09/30/2023 | 11/13/2023 | 10-Q |
| 06/30/2023 | 08/02/2023 | 10-Q |
| 03/31/2023 | 06/14/2023 | 10-K |
| 12/31/2022 | 02/09/2023 | 10-Q |
| 09/30/2022 | 10/31/2022 | 10-Q |
| 06/30/2022 | 08/08/2022 | 10-Q |
| 03/31/2022 | 05/26/2022 | 10-K |
Recent Forward Guidance [BETA]
Latest: Q3 2026 Earnings Reported 2/11/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q4 2026 Contracted Proceeds | 80.00 Mil | 33.3% | Raised | Guidance: 60.00 Mil for 2026 | |||
| 2026 Share Repurchases | 226.70 Mil | 0 | Affirmed | Guidance: 226.70 Mil for 2026 | |||
Prior: Q2 2026 Earnings Reported 11/12/2025
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Contracted Proceeds | 60.00 Mil | -14.3% | Lowered | Guidance: 70.00 Mil for 2026 | |||
| 2026 Share Repurchases | 226.70 Mil | ||||||
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Lang, Scott A | President and CEO | Direct | Buy | 12182025 | 21.61 | 1,160 | 25,068 | 178,499 | Form |
| 2 | Lang, Scott A | President and CEO | Direct | Buy | 12102025 | 20.41 | 2,450 | 50,004 | 144,911 | Form |
| 3 | Ashe, Gena L | Chief Legal Officer & Corp Sec | Direct | Sell | 11192025 | 21.07 | 6,564 | 138,303 | 281,622 | Form |
| 4 | Lang, Scott A | President and CEO | Direct | Buy | 9182025 | 21.28 | 4,650 | 98,952 | 98,952 | Form |
| 5 | Gray, Timothy | Chief Financial Officer | Direct | Buy | 8202025 | 22.07 | 50 | 1,104 | 1,699,876 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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