Tearsheet

Atlantic International (ATLN)


Market Price (12/5/2025): $2.3 | Market Cap: $125.5 Mil
Sector: Industrials | Industry: Human Resource & Employment Services

Atlantic International (ATLN)


Market Price (12/5/2025): $2.3
Market Cap: $125.5 Mil
Sector: Industrials
Industry: Human Resource & Employment Services

Investment Highlights Why It Matters Which of these 2 stories sounds closer for this stock?

1. Generates cash flow

The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.

2. Riding a trend

Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow


0 Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -54%
Weak multi-year price returns
2Y Excs Rtn is -93%, 3Y Excs Rtn is -160%
Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -31 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -6.9%
1 Megatrend and thematic drivers
Megatrends include Fintech & Digital Payments. Themes include Online Banking & Lending, and Digital Payments.
  Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 70%
2   Expensive valuation multiples
P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 34x
3   Weak revenue growth
Rev Chg QQuarterly Revenue Change % is -1.7%
4   Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -92%
5   High stock price volatility
Vol 12M is 158%
6   Significant short interest
Short Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 15.11
0 Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -54%
1 Megatrend and thematic drivers
Megatrends include Fintech & Digital Payments. Themes include Online Banking & Lending, and Digital Payments.
2 Weak multi-year price returns
2Y Excs Rtn is -93%, 3Y Excs Rtn is -160%
3 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -31 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -6.9%
4 Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 70%
5 Expensive valuation multiples
P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 34x
6 Weak revenue growth
Rev Chg QQuarterly Revenue Change % is -1.7%
7 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -92%
8 High stock price volatility
Vol 12M is 158%
9 Significant short interest
Short Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 15.11

Valuation, Metrics & Events

ATLN Stock


Why The Stock Moved


Qualitative Assessment

AI Generated Analysis | Feedback

Between approximately August 31, 2025, and December 5, 2025, Atlantic International (ATLN) stock experienced a significant decline of 42.4%. Several key factors contributed to this downward movement:

**1. Continued Unprofitability and Widening Quarterly Net Loss**: Despite efforts to improve its financial position, Atlantic International remained unprofitable, and its net loss for the third quarter of 2025 (Q3 2025) actually widened to $10.8 million compared to $7.0 million in Q3 2024. While the year-to-date net loss improved, the quarterly setback likely impacted investor confidence.

**2. High Debt Levels and Significant Leverage**: The company continued to face challenges with substantial debt levels and high leverage. Analyses indicated a "poor" financial strength rating and a low Altman Z-Score, suggesting potential bankruptcy risk, which is a significant concern for investors.

**3. Increased Operating Expenses**: Selling, general, and administrative (SG&A) expenses rose to $19.9 million in Q3 2025, marking a 16% increase from Q3 2024 and a 26.3% increase year-to-date. These rising costs further hampered the company's path to profitability.

**4. High Stock Volatility and Market Underperformance**: ATLN stock demonstrated high volatility and significantly underperformed both the broader US market and its industry over the past year. This persistent volatility and lack of comparative growth likely contributed to investor apprehension and a downward trend.

**5. Insufficient Cash Position and Negative Operating Cash Flow**: The company's cash and cash equivalents were very low, at $83,406 as of September 30, 2025, a significant decrease from the end of 2024. Furthermore, despite some temporary working capital reductions, the company's operating cash flow was negative, indicating that it could not sustain ongoing losses with its current cash holdings.

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Stock Movement Drivers

Return vs. Risk


Price Returns Compared

 202020212022202320242025Total [1]
Returns
ATLN Return---84%-64%18%-53%-97%
Peers Return42%10%-6%8%10%-12%53%
S&P 500 Return16%27%-19%24%23%17%112%

Monthly Win Rates [3]
ATLN Win Rate-25%25%50%33%20% 
Peers Win Rate65%57%45%52%60%42% 
S&P 500 Win Rate58%75%42%67%75%70% 

Max Drawdowns [4]
ATLN Max Drawdown---86%-66%-69%-70% 
Peers Max Drawdown-48%-21%-26%-15%-19%-21% 
S&P 500 Max Drawdown-31%-1%-25%-1%-2%-15% 


[1] Cumulative total returns since the beginning of 2020
[2] Peers: PAYX, BBSI, JOB, ADP, DAY.
[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] 2025 data is for the year up to 12/4/2025 (YTD)

How Low Can It Go

Unique KeyEventATLNS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-98.2%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven5479.7%34.1%
2022 Inflation ShockTime to BreakevenTime to BreakevenNot Fully Recovered days464 days

Compare to PAYX, BBSI, JOB, ADP, DAY


In The Past

Atlantic International's stock fell -98.2% during the 2022 Inflation Shock from a high on 8/30/2021. A -98.2% loss requires a 5479.7% gain to breakeven.

Preserve Wealth

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Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Atlantic International (ATLN)

Better Bets than Atlantic International (ATLN)

Trade Ideas

Select past ideas related to ATLN. For more, see Trefis Trade Ideas.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
CNM_11212025_Dip_Buyer_FCFYield11212025CNMCore & MainDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
9.5%9.5%-1.6%
VRRM_11212025_Dip_Buyer_FCFYield11212025VRRMVerra MobilityDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
3.2%3.2%-1.2%
LII_11212025_Dip_Buyer_ValueBuy11212025LIILennox InternationalDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin
7.5%7.5%0.0%
ADP_11212025_Monopoly_xInd_xCD_Getting_Cheaper11212025ADPAutomatic Data ProcessingMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple
2.8%2.8%-1.2%
CW_11212025_Quality_Momentum_RoomToRun_10%11212025CWCurtiss-WrightQualityQ | Momentum | UpsideQuality Stocks with Momentum and Upside
Buying quality stocks with strong momentum but still having room to run
0.0%0.0%0.0%
Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
CNM_11212025_Dip_Buyer_FCFYield11212025CNMCore & MainDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
9.5%9.5%-1.6%
VRRM_11212025_Dip_Buyer_FCFYield11212025VRRMVerra MobilityDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
3.2%3.2%-1.2%
LII_11212025_Dip_Buyer_ValueBuy11212025LIILennox InternationalDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin
7.5%7.5%0.0%
ADP_11212025_Monopoly_xInd_xCD_Getting_Cheaper11212025ADPAutomatic Data ProcessingMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple
2.8%2.8%-1.2%
CW_11212025_Quality_Momentum_RoomToRun_10%11212025CWCurtiss-WrightQualityQ | Momentum | UpsideQuality Stocks with Momentum and Upside
Buying quality stocks with strong momentum but still having room to run
0.0%0.0%0.0%

Recent Active Movers

Recent Active Movers

More From Trefis

Peer Comparisons for Atlantic International

Peers to compare with:

Financials

ATLNPAYXBBSIJOBADPDAYMedian
NameAtlantic.Paychex Barrett .GEE Automati.Dayforce  
Mkt Price2.28111.7734.910.19259.4069.1152.01
Mkt Cap0.140.30.90.0105.111.06.0
Rev LTM4435,5721,22411120,9031,8931,559
Op Inc LTM-312,20864-45,47213298
FCF LTM31,70927-14,21016696
FCF 3Y Avg-41,6701823,84613376
CFO LTM31,90143-14,758274159
CFO 3Y Avg-41,8353324,410245139

Growth & Margins

ATLNPAYXBBSIJOBADPDAYMedian
NameAtlantic.Paychex Barrett .GEE Automati.Dayforce  
Rev Chg LTM5.7%5.6%9.6%-5.8%7.1%11.7%6.4%
Rev Chg 3Y Avg-6.5%5.7%-11.8%7.4%16.7%6.5%
Rev Chg Q-1.7%10.2%8.4%-9.3%7.1%9.5%7.7%
QoQ Delta Rev Chg LTM-0.4%2.4%2.1%-2.2%1.7%2.2%1.9%
Op Mgn LTM-6.9%39.6%5.3%-3.8%26.2%7.0%6.1%
Op Mgn 3Y Avg-40.5%5.3%-2.3%25.8%6.8%6.8%
QoQ Delta Op Mgn LTM-0.1%-1.9%0.0%0.6%-0.1%0.4%-0.1%
CFO/Rev LTM0.7%34.1%3.5%-0.5%22.8%14.5%9.0%
CFO/Rev 3Y Avg-34.7%2.9%1.3%22.5%14.5%14.5%
FCF/Rev LTM0.7%30.7%2.2%-0.5%20.1%8.8%5.5%
FCF/Rev 3Y Avg-31.6%1.6%1.2%19.6%7.7%7.7%

Valuation

ATLNPAYXBBSIJOBADPDAYMedian
NameAtlantic.Paychex Barrett .GEE Automati.Dayforce  
Mkt Cap0.140.30.90.0105.111.06.0
P/S0.28.20.90.25.75.83.3
P/EBIT-1.720.015.4-0.820.4-168.17.3
P/E-1.127.620.8-0.628.7-73.510.1
P/CFO33.924.026.4-38.125.040.125.7
Total Yield-87.7%6.8%5.2%-169.5%5.5%-1.4%1.9%
Dividend Yield0.0%3.2%0.4%0.0%2.1%0.0%0.2%
FCF Yield 3Y Avg40.7%3.7%2.3%3.4%3.5%1.3%3.4%
D/E0.70.10.00.20.10.10.1
Net D/E0.70.1-0.1-0.70.00.10.0

Returns

ATLNPAYXBBSIJOBADPDAYMedian
NameAtlantic.Paychex Barrett .GEE Automati.Dayforce  
1M Rtn-12.6%-2.0%-13.0%2.0%0.1%0.7%-1.0%
3M Rtn-35.6%-17.8%-28.8%-0.5%-13.4%-0.6%-15.6%
6M Rtn-3.8%-28.6%-16.5%-4.9%-19.7%16.8%-10.7%
12M Rtn-55.3%-19.9%-20.6%-25.5%-12.7%-14.4%-20.3%
3Y Rtn-86.4%-0.6%47.7%-75.9%4.6%7.1%2.0%
1M Excs Rtn-13.9%-3.3%-14.3%0.7%-1.2%-0.5%-2.2%
3M Excs Rtn-42.5%-22.5%-33.1%-5.8%-18.2%-5.6%-20.3%
6M Excs Rtn-19.3%-44.1%-31.9%-20.4%-35.1%1.3%-26.1%
12M Excs Rtn-69.4%-34.1%-32.5%-37.7%-26.9%-28.5%-33.3%
3Y Excs Rtn-159.7%-71.4%-23.6%-148.1%-65.6%-65.5%-68.5%

Financials

Price Behavior

Short Interest

Short Interest: As Of Date11142025
Short Interest: Shares Quantity163,761
Short Interest: % Change Since 103120250.3%
Average Daily Volume10,840
Days-to-Cover Short Interest15.11
Basic Shares Quantity54,553,905
Short % of Basic Shares0.3%

SEC Filings

Expand for More

Report DateFiling DateFiling
6302025814202510-Q 6/30/2025
3312025514202510-Q 3/31/2025
12312024328202510-K 12/31/2024
93020241114202410-Q 9/30/2024
6302024814202410-Q 6/30/2024
3312024517202410-Q 3/31/2024
12312023410202410-K 12/31/2023
93020231120202310-Q 9/30/2023
6302023804202310-Q 6/30/2023
3312023509202310-Q 3/31/2023
12312022316202310-K 12/31/2022
93020221108202210-Q 9/30/2022
6302022812202210-Q 6/30/2022
3312022512202210-Q 3/31/2022
12312021323202210-K 12/31/2021
93020211116202110-Q 9/30/2021

Insider Activity

Expand for More

 OwnerTitleFiling DateActionPriceSharesTransacted
Value
Value of
Held Shares
Form
0Tenore MichaelGeneral Counsel1082025Buy0.00577,17158158Form
1Broderick ChristopherChief Financial Officer1082025Buy0.00577,17158258Form
2JAGID JEFFREY MChief Executive Officer1062025Buy0.002,885,856289662Form