ATN International (ATNI)


Market Price (10/9/2026): $28.42 | Market Cap: $437.2 MilSector: Communication Services | Industry: Integrated Telecommunication Services

ATN International (ATNI)


Market Price (10/9/2026): $28.42
Market Cap: $437.2 Mil
Sector: Communication Services
Industry: Integrated Telecommunication Services

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 41%, Dividend Yield is 3.8%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 36%, FCF Yield is 9.4%

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 17%

Megatrend and thematic drivers
Megatrends include 5G & Advanced Connectivity. Themes include Wireless Services, and Telecom Infrastructure.

Weak multi-year price returns
2Y Excs Rtn is -39%, 3Y Excs Rtn is -76%

Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 81%

Stock price has recently run up significantly
12M Rtn12 month market price return is 108%

Weak revenue growth
Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -0.5%

Key risks
ATNI key risks include [1] revenue declines from the winding down of critical U.S. Show more.

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 41%, Dividend Yield is 3.8%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 36%, FCF Yield is 9.4%
1 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 17%
2 Megatrend and thematic drivers
Megatrends include 5G & Advanced Connectivity. Themes include Wireless Services, and Telecom Infrastructure.
3 Weak multi-year price returns
2Y Excs Rtn is -39%, 3Y Excs Rtn is -76%
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 81%
5 Stock price has recently run up significantly
12M Rtn12 month market price return is 108%
6 Weak revenue growth
Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -0.5%
7 Key risks
ATNI key risks include [1] revenue declines from the winding down of critical U.S. Show more.

ATNI in ETFs

Weight = ATNI's share of each fund

VTI0.00%
IWM0.01%
AVUV0.05%
VTWO0.01%
DFAS0.01%
SCHA0.01%
IWN0.00%
DFAC0.00%
+2 more covered ETFs

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 10/1/2026

ATN International (ATNI) stock has gained about 10% since 6/30/2026 because of the following key factors:

1. ATN International's stock gained significantly following the exceptional fiscal Q2 2026 earnings report, primarily driven by a substantial one-time gain. The company reported basic earnings per share (EPS) of US$10.87 for fiscal Q2 2026, significantly surpassing analyst estimates of US$0.17 per share. This substantial beat was largely attributed to a non-recurring gain of approximately US$230 million from the initial closing of a U.S. tower portfolio sale and leaseback transaction, which brought in US$268 million in cash. This strategic divestiture is viewed as a move towards a more predictable, higher-margin broadband and mobile platform.

2. The company demonstrated improved underlying operational profitability in fiscal Q2 2026. Beyond the one-time tower sale gain, ATN International's core telecom business showed healthier performance. Consolidated revenue increased modestly by 2% year-over-year to US$184.5 million, with growth observed in both U.S. and international segments. Furthermore, Adjusted EBITDA rose by 9% to US$49.7 million, and the Adjusted EBITDA Margin expanded to 27% from 25.3% in the prior year quarter, indicating enhanced operational efficiency. Communications services revenue specifically grew by approximately 3.0%.

Show more
Updated on 10/1/2026

ATN International (ATNI) stock has gained about 10% since 6/30/2026 because of the following key factors:

1. ATN International's stock gained significantly following the exceptional fiscal Q2 2026 earnings report, primarily driven by a substantial one-time gain. The company reported basic earnings per share (EPS) of US$10.87 for fiscal Q2 2026, significantly surpassing analyst estimates of US$0.17 per share. This substantial beat was largely attributed to a non-recurring gain of approximately US$230 million from the initial closing of a U.S. tower portfolio sale and leaseback transaction, which brought in US$268 million in cash. This strategic divestiture is viewed as a move towards a more predictable, higher-margin broadband and mobile platform.

2. The company demonstrated improved underlying operational profitability in fiscal Q2 2026. Beyond the one-time tower sale gain, ATN International's core telecom business showed healthier performance. Consolidated revenue increased modestly by 2% year-over-year to US$184.5 million, with growth observed in both U.S. and international segments. Furthermore, Adjusted EBITDA rose by 9% to US$49.7 million, and the Adjusted EBITDA Margin expanded to 27% from 25.3% in the prior year quarter, indicating enhanced operational efficiency. Communications services revenue specifically grew by approximately 3.0%.

3. Enhanced capital allocation strategies, including an increased share repurchase authorization and consistent dividend payments, contributed to investor confidence. In conjunction with its fiscal Q2 2026 results, ATN International announced an increase in its share repurchase authorization to US$30 million, signaling management's commitment to returning value to shareholders. Additionally, the company declared a quarterly dividend of $0.29 per share on September 23, 2026, payable on October 9, 2026. This followed a 5.5% increase in the quarterly dividend announced on June 18, 2026, from $0.275 to $0.29 per share, and the company has maintained dividend payments for 29 consecutive years.

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Stock Movement Drivers

Fundamental Drivers

The 9.4% change in ATNI stock from 6/30/2026 to 10/7/2026 was primarily driven by a 9.6% change in the company's P/S Multiple.
(LTM values as of)630202610072026Change
Stock Price ($)26.2228.679.4%
Change Contribution By: 
Total Revenues ($ Mil)7317340.4%
P/S Multiple0.50.69.6%
Shares Outstanding (Mil)1515-0.7%
Cumulative Contribution9.4%

LTM = Last Twelve Months as of date shown

Market Drivers

6/30/2026 to 10/7/2026
ReturnCorrelation
ATNI9.4% 
Market (SPY)4.1%14.4%
Sector (XLC)3.9%22.3%

Fundamental Drivers

The 7.6% change in ATNI stock from 3/31/2026 to 10/7/2026 was primarily driven by a 7.5% change in the company's P/S Multiple.
(LTM values as of)331202610072026Change
Stock Price ($)26.6628.677.6%
Change Contribution By: 
Total Revenues ($ Mil)7287340.8%
P/S Multiple0.60.67.5%
Shares Outstanding (Mil)1515-0.8%
Cumulative Contribution7.6%

LTM = Last Twelve Months as of date shown

Market Drivers

3/31/2026 to 10/7/2026
ReturnCorrelation
ATNI7.6% 
Market (SPY)19.8%14.7%
Sector (XLC)0.6%25.4%

Fundamental Drivers

The 99.9% change in ATNI stock from 9/30/2025 to 10/7/2026 was primarily driven by a 98.0% change in the company's P/S Multiple.
(LTM values as of)930202510072026Change
Stock Price ($)14.3428.6799.9%
Change Contribution By: 
Total Revenues ($ Mil)7207342.0%
P/S Multiple0.30.698.0%
Shares Outstanding (Mil)1515-1.0%
Cumulative Contribution99.9%

LTM = Last Twelve Months as of date shown

Market Drivers

9/30/2025 to 10/7/2026
ReturnCorrelation
ATNI99.9% 
Market (SPY)17.6%9.8%
Sector (XLC)-5.2%17.4%

Fundamental Drivers

The 4.0% change in ATNI stock from 9/30/2023 to 10/7/2026 was primarily driven by a 3.5% change in the company's P/S Multiple.
(LTM values as of)930202310072026Change
Stock Price ($)27.5628.674.0%
Change Contribution By: 
Total Revenues ($ Mil)746734-1.7%
P/S Multiple0.60.63.5%
Shares Outstanding (Mil)16152.2%
Cumulative Contribution4.0%

LTM = Last Twelve Months as of date shown

Market Drivers

9/30/2023 to 10/7/2026
ReturnCorrelation
ATNI4.0% 
Market (SPY)88.1%16.2%
Sector (XLC)75.1%18.7%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
ATNI Return-3%15%-12%-55%44%28%-18%
Peers Return15%-46%19%79%20%-13%39%
S&P 500 Return27%-19%24%23%16%14%108%

Monthly Win Rates [3]
ATNI Win Rate58%50%25%25%50%60% 
Peers Win Rate50%33%36%44%58%53% 
S&P 500 Win Rate75%42%67%75%67%50% 

Max Drawdowns [4]
ATNI Max Drawdown-27%-29%-42%-57%-39%-22% 
Peers Max Drawdown-32%-50%-51%-40%-35%-39% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: TDS, SHEN, LUMN.
[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 10/7/2026 (YTD)

How Low Can It Go

EventATNIS&P 500
2025 US Tariff Shock
  % Loss-21.8%-18.8%
  % Gain to Breakeven27.9%23.1%
  Time to Breakeven46 days79 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-23.2%-9.5%
  % Gain to Breakeven30.1%10.5%
  Time to Breakeven53 days24 days
2022 Inflation Shock & Fed Tightening
  % Loss-20.1%-24.5%
  % Gain to Breakeven25.1%32.4%
  Time to Breakeven33 days427 days
2020 COVID-19 Crash
  % Loss-37.2%-33.7%
  % Gain to Breakeven59.2%50.9%
  Time to Breakeven1 days140 days
2011 US Debt Ceiling Crisis & European Contagion
  % Loss-22.8%-17.9%
  % Gain to Breakeven29.5%21.8%
  Time to Breakeven36 days123 days
2010 Eurozone Sovereign Debt Crisis / Flash Crash
  % Loss-28.4%-15.4%
  % Gain to Breakeven39.6%18.2%
  Time to Breakeven1099 days125 days

Compare to TDS, SHEN, LUMN

In The Past

ATN International's stock fell -21.8% during the 2025 US Tariff Shock. Such a loss loss requires a 27.9% 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.

EventATNIS&P 500
2025 US Tariff Shock
  % Loss-21.8%-18.8%
  % Gain to Breakeven27.9%23.1%
  Time to Breakeven46 days79 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-23.2%-9.5%
  % Gain to Breakeven30.1%10.5%
  Time to Breakeven53 days24 days
2022 Inflation Shock & Fed Tightening
  % Loss-20.1%-24.5%
  % Gain to Breakeven25.1%32.4%
  Time to Breakeven33 days427 days
2020 COVID-19 Crash
  % Loss-37.2%-33.7%
  % Gain to Breakeven59.2%50.9%
  Time to Breakeven1 days140 days
2011 US Debt Ceiling Crisis & European Contagion
  % Loss-22.8%-17.9%
  % Gain to Breakeven29.5%21.8%
  Time to Breakeven36 days123 days
2010 Eurozone Sovereign Debt Crisis / Flash Crash
  % Loss-28.4%-15.4%
  % Gain to Breakeven39.6%18.2%
  Time to Breakeven1099 days125 days
2008-2009 Global Financial Crisis
  % Loss-59.3%-53.4%
  % Gain to Breakeven145.4%114.4%
  Time to Breakeven93 days1085 days

Compare to TDS, SHEN, LUMN

In The Past

ATN International's stock fell -21.8% during the 2025 US Tariff Shock. Such a loss loss requires a 27.9% 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 ATN International (ATNI)

ATN International, Inc. (ATNI) is primarily a telecommunications services provider, operating through two core segments: International Telecom and US Telecom. The company also maintains a smaller Renewable Energy segment, diversifying its business model.

The International Telecom segment offers a full range of fixed data, voice, and video services, as well as mobile and carrier solutions, to retail and business customers. Its primary markets are Bermuda, the Cayman Islands, the US Virgin Islands, and Guyana, where services are offered under brands such as One, GTT+, and Viya. The US Telecom segment focuses on providing carrier services, including wholesale roaming and managed services, alongside fixed and mobile solutions for business and consumer clients. This segment also leases critical network infrastructure, such as towers and transport facilities.

Beyond telecommunications, ATN International's Renewable Energy segment delivers distributed generation solar power solutions to commercial and industrial customers specifically in India. This structure allows ATNI to serve a diverse customer base, from individual consumers to large enterprises, across various geographical regions.

AI Analysis | Feedback

A regional AT&T or Verizon, but primarily operating in the Caribbean and US Virgin Islands.

AI Analysis | Feedback

ATN International (ATNI) provides the following major products and services:

  • Fixed Telecommunication Services: Provides internet data and traditional voice services for residential and business customers.
  • Mobile Telecommunication Services: Offers mobile data, voice, and roaming services to retail and business customers, including sales of handsets and accessories.
  • Wholesale & Carrier Services: Delivers wholesale roaming, fixed, mobility, and other carrier services to other telecommunication providers.
  • Managed & Private Network Services: Provides tailored telecommunication solutions, managed services, and private network deployment for business and enterprise customers.
  • Video Services: Supplies television and other video content services to customers in specific regions.
  • Network Infrastructure Leasing & Maintenance: Leases critical network infrastructure like towers and transport facilities, and offers site maintenance services.
  • Distributed Solar Power Generation: Provides distributed generation solar power solutions to commercial and industrial customers in India.

AI Analysis | Feedback

ATN International serves a diverse customer base, including individual consumers, businesses, and other telecommunications carriers. Given the mix of retail operations and business-to-business services, the major customer types can be categorized as follows:

  • Retail Consumers and Households: Individuals and families who subscribe to mobile, fixed data, voice, and video services under ATN International's consumer-facing brands such as One, GTT+, and Viya. These services are offered in regions including Bermuda, the Cayman Islands, Guyana, and the US Virgin Islands, and are supported by their network of retail stores.

  • Businesses and Enterprises: Commercial and industrial organizations that utilize a range of services from ATN International. This includes fixed, mobility, managed, and private network services in the telecom segments, as well as distributed generation solar power solutions provided to commercial and industrial customers in India through their Renewable Energy segment.

  • Other Telecommunications Carriers: Other telecom operators and service providers that leverage ATN International's infrastructure and wholesale offerings. This primarily involves wholesale roaming services and the leasing of critical network infrastructure, such as towers and transport facilities, within the US Telecom segment.

AI Analysis | Feedback

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AI Analysis | Feedback

Brad Martin, Chief Executive Officer

Brad Martin became the CEO of ATN International in January 2024, having previously served as the company's Chief Operating Officer from 2018 to 2023. Prior to joining ATN, Mr. Martin was the Chief Operating Officer for Senet Inc., a "low power wide area" network operator and global service provider. He also held roles as Senior Vice President and Chief Quality Officer with Extreme Networks and Vice President of Engineering Operations and Quality with Siemens Enterprise Communications and Enterasys Networks. Mr. Martin is also a board member for Alaska Communications and One Communications in Bermuda, and Chairman of the Board for GTT+ and Viya.

Carlos Doglioli, Chief Financial Officer and Principal Accounting Officer

Carlos Doglioli joined ATN International in January 2024 and assumed the role of Chief Financial Officer in March 2024, following the retirement of Justin Benincasa. He previously served as Chief Financial Officer of Centennial Towers, a developer, owner, and operator of wireless communication towers in Latin America, since 2014. Mr. Doglioli also held senior finance roles for portfolio companies of Devonshire Investors, the private equity group of Fidelity Investments, including CFO of Backyard Farms and Managing Director of Finance of J. Robert Scott.

Michael T. Prior, Executive Chairman of the Board

Michael T. Prior transitioned to Executive Chairman of ATN International on January 1, 2024, after serving as the company's President and Chief Executive Officer for 18 years. During his tenure as CEO, he was instrumental in transforming ATN through strategic acquisitions and investments, expanding its operating footprint across North America and the Caribbean region.

Mary M. Mabey, Senior Vice President, General Counsel and Secretary

Mary M. Mabey serves as the Senior Vice President, General Counsel, and Secretary for ATN International.

Justin M. Leon, Senior Vice President, Corporate Development

Justin M. Leon holds the position of Senior Vice President, Corporate Development at ATN International.

AI Analysis | Feedback

ATN International (ATNI) faces several key risks to its business operations and financial performance:

  1. Business Model Transition and Regulatory Challenges: ATN International is undergoing a complex strategic transition, shifting from older, subsidized revenue streams, particularly in mobility services, towards new fiber-based digital infrastructure and services. The primary risk is that the decline in legacy revenues may outpace the adoption and growth of these new services, potentially impacting overall revenue generation. This transition is further complicated by the necessity of navigating diverse and evolving regulatory landscapes across its various operating jurisdictions.
  2. Geographical Exposure to Natural Disasters and Geopolitical Risks: A significant portion of ATN International's operations, specifically its International Telecom segment, is located in the Caribbean. This exposes the company to an annual risk of natural disasters, such as hurricanes, which can severely disrupt operations and necessitate costly repairs to its network infrastructure. Operating in these regions also carries exposure to potential geopolitical challenges.
  3. Financial Performance and High Leverage: The company has experienced significant financial headwinds, reporting net losses in 2024 and early 2025, partly due to factors like goodwill impairment and increased expenses. ATN International also has substantial capital expenditure requirements for its broadband expansion initiatives, which are largely financed through debt. Its high debt-to-equity ratio and low interest coverage ratio indicate significant leverage, which could limit financial flexibility, strain cash returns, and put pressure on its ability to sustain its dividend if profitability does not improve as expected.

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The emergence and expansion of Low Earth Orbit (LEO) satellite internet services, such as Starlink, pose a clear emerging threat. These services offer an alternative broadband internet connection that can bypass traditional fixed and mobile telecommunications infrastructure, directly competing with ATN International's core fixed data and voice, and mobile data services in the markets it serves, particularly in island nations and potentially less densely populated US areas.

AI Analysis | Feedback

ATN International (ATNI) operates in several telecommunications and renewable energy markets across different regions. The addressable market sizes for its main products and services are detailed below:

International Telecom Segment

  • Bermuda: The electronic communications sector in Bermuda generated revenue of $200.2 million in 2024. Broadband subscriptions in Bermuda reached 32,858 in 2024. Mobile connections in Bermuda were 65,200 at the start of 2025. Total revenue from mobile networks in Bermuda was $75.9 million in 2020.
  • Cayman Islands: The total combined telecommunications and TV broadcasting turnover in the Cayman Islands was CI$37,330 thousand (approximately USD $44,796 thousand based on CI$1 = USD$1.20) in Q4 2023. There were 130 thousand cellular mobile connections in the Cayman Islands at the end of 2025. Internet users in the Cayman Islands numbered 61.8 thousand in October 2025.
  • Guyana: Mobile connections in Guyana were 706 thousand at the end of 2025. Internet users in Guyana totaled 684 thousand in October 2025. Fixed internet subscribers have been steadily increasing, peaking in 2023.
  • US Virgin Islands: Mobile connections in the US Virgin Islands were 211 thousand at the beginning of 2025. Internet users in the US Virgin Islands were 61.2 thousand in January 2025. The FCC established the Connect USVI Fund in 2018 with an initial allocation of up to $204 million to restore, harden, and expand fixed voice and broadband services over 10 years, and $4.4 million for mobile services over 3 years.

US Telecom Segment

  • Wholesale Roaming (United States): The United States wholesale roaming market is expected to reach USD 21.6 billion by the end of 2032. The global inbound wholesale roaming market size was USD 26.73 billion in 2025 and is predicted to increase to USD 51.12 billion by 2035.
  • Private Network Services (United States): The United States private 5G network market size was valued at USD 4.64 billion in 2025 and is estimated to grow to USD 17.27 billion by 2031. Another estimate places the U.S. private 5G network market size at USD 1.36 billion in 2024, projected to grow to USD 14.13 billion by 2030.
  • Fixed, Mobility, Carrier, and Managed Services (United States/North America): The North America Mobility as a Service (MaaS) market generated a revenue of USD 44,605.0 million in 2024 and is expected to reach USD 778,635.5 million by 2033. The U.S. mobility as a service market size reached USD 2.6 billion in 2024 and is projected to reach USD 36.7 billion by 2033. The global wholesale telecom market size is projected to reach USD 1.4 trillion by 2035, with North America holding 43% share by 2035.

Renewable Energy Segment

  • Distributed Generation Solar Power (India): The India solar energy market size was valued at USD 30,032.78 million in 2025 and is projected to reach USD 538,913.68 million by 2034. The India distributed energy generation market is projected to reach USD 33.54 billion by FY2031 from USD 12.60 billion in FY2023. The rooftop solar Commercial & Industrial (C&I) market in India is expected to see the largest installations to date of about 4 gigawatts (GW) in fiscal year (FY) 2024. India's rooftop solar energy capacity is projected to surge from 17 GW in FY25 to an estimated 25–30 GW by FY27. India's renewable energy capacity under the commercial and industrial (C&I) segment is expected to increase to 60-80 GW by 2030.

AI Analysis | Feedback

ATN International (ATNI) is strategically focusing on several key areas to drive future revenue growth over the next 2-3 years, primarily centered around enhancing its telecommunications infrastructure and optimizing its service offerings. Here are the expected drivers of future revenue growth for ATN International: * Expansion of Fiber and High-Speed Broadband Networks: ATN International is heavily investing in its "First-to-Fiber" and "Glass & Steel" strategies to expand its fiber-rich digital infrastructure and next-generation fixed wireless capabilities. This expansion is leading to an increase in high-speed broadband homes passed and a continuous conversion of subscribers to its high-speed networks, driving growth in fixed broadband revenues across both its U.S. and International Telecom segments. For example, in Q2 2024, the company increased the number of homes passed by high-speed broadband by 22% year-over-year, and high-speed data subscribers grew by 9%. * Leveraging Government Funding for Broadband Infrastructure: The company is actively pursuing and utilizing government funding opportunities, such as the BEAD program, to support its broadband infrastructure projects. ATN International has initiated construction on grant-awarded fiber projects totaling over $280 million and has received provisional BEAD awards and preliminary commitments exceeding $150 million in key markets like New Mexico and Alaska, which are expected to expand its market opportunity and contribute to revenue growth. * Strategic Shift to High-Margin Carrier and Enterprise Services in U.S. Telecom: ATN International is repositioning its U.S. Telecom segment by shifting its focus towards higher-margin carrier, business, and enterprise solutions, while reducing its emphasis on less profitable consumer fixed wireless and mobility services. This strategic pivot towards high-margin digital infrastructure and enterprise solutions is expected to be a key driver of profitability and revenue growth in the U.S. segment. * Growth in International Mobility and High-Speed Data Subscribers with 5G Expansion: In its International Telecom segment, ATN International's network investments and focus on service quality are driving growth in both mobility and high-speed data subscribers. The company has also launched 5G in two international markets, which is contributing to significant segment growth. This strategy aims to deepen customer relationships, upgrade networks, and optimize operations to enhance profitability and long-term value in these markets.

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Capital Allocation Decisions (Last 3-5 Years)

Share Repurchases

  • ATN International completed the repurchase of 423,511 shares for $10 million under a buyback program announced on December 14, 2023.
  • The company did not repurchase any shares in the fourth quarter ended December 31, 2025.

Outbound Investments

  • ATN International announced the pending sale of its Southwest U.S. tower portfolio, consisting of 214 towers, for up to $297 million in an all-cash transaction. This sale is expected to close in the second quarter of 2026.
  • The fourth quarter of 2025 results included a $5.3 million expense related to the write-down of an equity investment.

Capital Expenditures

  • Capital expenditures for the full year 2025 were $90.0 million, net of $84.6 million in reimbursable expenditures.
  • For 2024, capital expenditures were $110.4 million, net of $108.5 million in reimbursements.
  • Capital expenditures for 2026 are projected to be between $105 million and $115 million, net of reimbursable expenditures, with a primary focus on fiber network expansion and digital infrastructure upgrades, including leveraging government funding such as BEAD awards for broadband access.

Better Bets vs. ATN International (ATNI)

Peer Outperformance in Integrated Telecommunication Services

ATNI has trailed 55% of its 20 Integrated Telecommunication Services peers over 5Y. Among the peers that beat it are T and VZ. Integrated Telecommunication Services ranks 3rd of 9 industries in Communication Services by median 5Y return. That makes it one of the strongest corners of the sector.
Share of Integrated Telecommunication Services constituents that ATNI has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
95%
of 22 industry peers · 108.4% return
3Y
45%
of 20 industry peers · 2.1% return
5Y
45%
of 20 industry peers · -26.8% return
Integrated Telecommunication Services peers with revenue growth within 4pp of ATNI's that beat it on at least 2 of 3 windows, and by at least 20pp over 5Y. Growth is matched by construction, so the gap is largely a re-rating gap. The multiple column is the context for it.
Ticker Name Rev Growth 3Y Avg P/E 1Y3Y5Y 5Y Gap
ATNI ATN International -0.5% 2.7x 108.4%2.1%-26.8% —
T AT&T 1.6% 7.9x -2.1%94.6%57.7% +84pp
VZ Verizon Communications 1.0% 11.8x 18.1%77.6%16.5% +43pp
Price returns, excluding dividends. P/E shown for context only and not used for matching.
Median price return by industry across the Communication Services sector, ranked by 5Y. Integrated Telecommunication Services is ATNI's own industry. Use this to see which corners of the sector have carried the returns.
Industry Names 1Y med3Y med5Y med Top 3 by 5Y
Wireless Telecommunication Services 3 -11.4%26.8%45.5% ECHO 282% · TMUS 45% · SHEN -61%
Publishing 5 19.7%18.2%16.7% NYT 29% · NWSA 24% · SCHL 17%
Integrated Telecommunication Services ← 21 -11.0%7.8%-22.0% IQST 1524% · GSAT 274% · AD 139%
Movies & Entertainment 26 4.4%48.3%-45.8% IMAX 142% · MSGS 126% · BATRA 115%
Alternative Carriers 4 8.0%16.7%-48.2% IRDM 40% · UNIT -48% · LUMN -48%
Advertising 19 -21.7%1.7%-60.9% APP 226% · EVC 24% · OMC 19%
Interactive Media & Services 30 -26.5%-33.6%-71.0% GOOGL 153% · META 121% · EVER 9%
Interactive Home Entertainment 8 -35.3%-27.7%-71.9% TTWO 17% · MYPS 0% · RBLX -34%
Broadcasting 15 -19.6%-22.0%-72.1% FOXA 58% · NXST 22% · WBD 20%
Median of constituents with a full price history over each window. Top names are unfiltered by size in this render.

Latest Trefis Analyses

TitleDate
0DASHBOARDS 
1ATN International Earnings Notes12/16/2025
2null10/17/2025
Title
0ARTICLES

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

ATNITDSSHENLUMNMedian
NameATN Inte.Telephon.Shenando.Lumen Te. 
Mkt Price28.6835.3711.835.9020.25
Mkt Cap0.44.00.75.92.4
Rev LTM7341,25836711,832996
Op Inc LTM62-34-16-367-25
FCF LTM41-452-227837-93
FCF 3Y Avg1899-22964159
CFO LTM1281061085,367118
CFO 3Y Avg122829854,343475

Growth & Margins

ATNITDSSHENLUMNMedian
NameATN Inte.Telephon.Shenando.Lumen Te. 
Rev Chg LTM2.0%3.8%5.0%-7.7%2.9%
Rev Chg 3Y Avg-0.5%-25.9%13.5%-8.8%-4.6%
Rev Chg Q1.8%3.6%5.5%-9.3%2.7%
QoQ Delta Rev Chg LTM0.4%0.9%1.4%-2.4%0.6%
Op Inc Chg LTM101.2%69.8%24.5%-189.1%47.1%
Op Inc Chg 3Y Avg59.4%-67.8%-78.7%-96.9%-73.3%
Op Mgn LTM8.4%-2.7%-4.5%-3.1%-2.9%
Op Mgn 3Y Avg5.7%-6.1%-4.2%1.4%-1.4%
QoQ Delta Op Mgn LTM1.3%-0.2%2.3%-0.8%0.6%
CFO/Rev LTM17.4%8.4%29.5%45.4%23.5%
CFO/Rev 3Y Avg16.6%66.3%25.2%34.5%29.8%
FCF/Rev LTM5.6%-36.0%-61.9%7.1%-15.2%
FCF/Rev 3Y Avg2.5%8.5%-68.6%5.2%3.8%

Valuation

ATNITDSSHENLUMNMedian
NameATN Inte.Telephon.Shenando.Lumen Te. 
Mkt Cap0.44.00.75.92.4
P/S0.63.21.80.51.2
P/Op Inc7.2-119.6-40.0-16.1-28.1
P/EBIT1.64.8-41.2-15.8-7.1
P/E2.79.7-17.3-5.8-1.6
P/CFO3.538.36.11.14.8
Total Yield41.3%12.5%-5.8%-17.3%3.3%
Dividend Yield3.8%2.2%0.0%0.0%1.1%
FCF Yield 3Y Avg7.1%3.0%-27.9%15.3%5.1%
D/E1.50.31.12.31.3
Net D/E0.8-0.21.12.00.9

Returns

ATNITDSSHENLUMNMedian
NameATN Inte.Telephon.Shenando.Lumen Te. 
1M Rtn-6.3%-6.4%-6.0%-12.9%-6.4%
3M Rtn17.3%1.8%-8.6%-10.9%-3.4%
6M Rtn10.0%-22.5%-18.0%-16.8%-17.4%
12M Rtn108.4%-9.3%-11.4%-14.6%-10.3%
3Y Rtn2.2%121.5%-44.5%357.4%61.8%
1M Excs Rtn-5.4%-8.3%-4.6%-12.8%-6.9%
3M Excs Rtn19.3%-1.4%-10.0%-16.0%-5.7%
6M Excs Rtn-5.1%-37.5%-33.0%-31.8%-32.4%
12M Excs Rtn90.0%-24.7%-26.6%-33.3%-25.6%
3Y Excs Rtn-76.1%29.4%-123.9%242.7%-23.3%

Comparison Analyses

null

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
International Telecom382377371356343
US Telecom346352391370259
Corporate and Other00000
Total728729762726603


Operating Income by Segment
$ Mil20252024202320222021
International Telecom6776535234
US Telecom-2-44-6-6-14
Corporate and Other-37-32-35-38-35
Total28-1138-15


Assets by Segment
$ Mil20252024202320222021
US Telecom8829581,020981877
International Telecom702676672644631
Corporate and Other9094926984
Renewable Energy   1417
Total1,6731,7271,7841,7081,609


Price Behavior

Price Behavior
Market Price$28.67 
Market Cap ($ Bil)0.4 
First Trading Date11/14/1991 
Distance from 52W High-9.8% 
   50 Days200 Days
DMA Price$29.08$26.17
DMA Trendupup
Distance from DMA-1.4%9.6%
 3M1YR
Volatility62.4%53.1%
Downside Capture0.994.59
Upside Capture81.7088.25
Correlation (SPY)14.1%10.3%
ATNI Betas & Captures as of 9/30/2026

 1M2M3M6M1Y3Y
Beta0.610.850.830.620.400.62
Up Beta1.451.460.410.580.790.40
Down Beta-0.284.732.850.950.020.48
Up Capture25%80%68%47%74%50%
Bmk +ve Days6162766132424
Stock +ve Days6142462126373
Down Capture141%-65%51%74%8%100%
Bmk -ve Days16263760120328
Stock -ve Days16284063122373

[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 ATNI
ATNI106.2%53.0%1.53-
Sector ETF (XLC)-3.7%15.9%-0.4317.5%
Equity (SPY)16.8%13.0%0.9210.0%
Gold (GLD)3.2%29.5%0.11-0.3%
Commodities (DBC)44.6%20.9%1.66-9.0%
Real Estate (VNQ)1.6%13.7%-0.1316.8%
Bitcoin (BTCUSD)-31.7%44.2%-0.732.8%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with ATNI
ATNI-6.0%50.0%0.06-
Sector ETF (XLC)7.8%21.0%0.2817.1%
Equity (SPY)13.8%17.1%0.6217.6%
Gold (GLD)18.4%18.9%0.794.6%
Commodities (DBC)10.3%19.6%0.40-1.8%
Real Estate (VNQ)0.8%18.8%-0.0723.8%
Bitcoin (BTCUSD)15.5%52.2%0.466.6%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with ATNI
ATNI-5.9%51.2%0.08-
Sector ETF (XLC)9.2%22.1%0.4623.1%
Equity (SPY)15.5%17.9%0.7326.3%
Gold (GLD)11.5%16.4%0.572.0%
Commodities (DBC)8.4%18.1%0.386.8%
Real Estate (VNQ)4.2%20.7%0.1629.2%
Bitcoin (BTCUSD)64.0%66.2%1.048.3%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date9152026
Short Interest: Shares Quantity0.3 Mil
Short Interest: % Change Since 831202620.5%
Average Daily Volume0.1 Mil
Days-to-Cover Short Interest3.9 days
Basic Shares Quantity15.4 Mil
Short % of Basic Shares1.9%

Earnings Returns History

Updated 9/9/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/6/20264.4%4.0%1.0%
5/7/20263.3%4.5%0.2%
3/5/2026-16.2%-20.0%-7.6%
11/6/20255.5%16.4%23.0%
8/8/2025-0.1%2.3%4.7%
5/1/20257.1%3.9%-0.9%
3/5/20256.3%12.3%8.3%
10/30/2024-8.4%-1.1%-13.5%
...
SUMMARY STATS   
# Positive101615
# Negative1489
Median Positive4.9%4.0%6.5%
Median Negative-3.3%-5.2%-6.4%
Max Positive7.1%16.4%23.0%
Max Negative-20.5%-20.0%-18.5%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/6/20264.4%4.0%1.0%
5/7/20263.3%4.5%0.2%
3/5/2026-16.2%-20.0%-7.6%
11/6/20255.5%16.4%23.0%
8/8/2025-0.1%2.3%4.7%
5/1/20257.1%3.9%-0.9%
3/5/20256.3%12.3%8.3%
10/30/2024-8.4%-1.1%-13.5%
7/25/20245.7%9.3%2.9%
4/25/20241.1%9.0%22.0%
2/22/2024-20.5%-6.1%-11.1%
10/26/2023-8.6%-9.8%-6.4%
7/27/2023-2.8%3.6%-0.6%
4/27/2023-4.0%-4.3%1.6%
2/23/2023-13.8%-12.0%-18.5%
10/27/20226.7%9.5%16.1%
7/28/20223.8%4.5%11.4%
4/28/2022-2.5%0.3%9.0%
2/24/20220.6%-1.8%13.8%
10/28/2021-1.5%3.3%-3.3%
7/29/2021-0.9%1.8%4.4%
4/28/2021-1.7%-2.0%-0.4%
2/24/2021-3.9%0.0%0.0%
10/29/2020-2.7%3.6%6.5%
SUMMARY STATS   
# Positive101615
# Negative1489
Median Positive4.9%4.0%6.5%
Median Negative-3.3%-5.2%-6.4%
Max Positive7.1%16.4%23.0%
Max Negative-20.5%-20.0%-18.5%

SEC Filings

Expand for More
Report DateFiling DateFiling
06/30/202608/10/202610-Q
03/31/202605/11/202610-Q
12/31/202503/16/202610-K
09/30/202511/10/202510-Q
06/30/202508/11/202510-Q
03/31/202505/12/202510-Q
12/31/202403/17/202510-K
09/30/202411/12/202410-Q
06/30/202408/09/202410-Q
03/31/202405/10/202410-Q
12/31/202303/15/202410-K
09/30/202311/08/202310-Q
06/30/202308/09/202310-Q
03/31/202305/10/202310-Q
12/31/202203/15/202310-K
09/30/202211/09/202210-Q
Collapse to Preview
Report DateFiling DateFiling
06/30/202608/10/202610-Q
03/31/202605/11/202610-Q
12/31/202503/16/202610-K
09/30/202511/10/202510-Q
06/30/202508/11/202510-Q
03/31/202505/12/202510-Q
12/31/202403/17/202510-K
09/30/202411/12/202410-Q
06/30/202408/09/202410-Q
03/31/202405/10/202410-Q
12/31/202303/15/202410-K
09/30/202311/08/202310-Q
06/30/202308/09/202310-Q
03/31/202305/10/202310-Q
12/31/202203/15/202310-K
09/30/202211/09/202210-Q
06/30/202208/08/202210-Q
03/31/202205/10/202210-Q
12/31/202103/16/202210-K
09/30/202111/09/202110-Q
06/30/202108/09/202110-Q
03/31/202105/10/202110-Q
12/31/202003/01/202110-K
09/30/202011/04/202010-Q
06/30/202008/10/202010-Q
03/31/202005/11/202010-Q
12/31/201903/02/202010-K
09/30/201911/08/201910-Q

Recent Forward Guidance

Updated 10/4/2026

Latest: Q2 2026 Earnings Reported 8/6/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2026 Adjusted EBITDAReported183.00 Mil188.00 Mil193.00 Mil-3.6% LoweredGuidance: 195.00 Mil for 2026
2026 Capital ExpendituresReported105.00 Mil110.00 Mil115.00 Mil0 AffirmedGuidance: 110.00 Mil for 2026


Prior: Q1 2026 Earnings Reported 5/7/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2026 Adjusted EBITDAReported190.00 Mil195.00 Mil200.00 Mil0 AffirmedGuidance: 195.00 Mil for 2026
2026 Capital ExpendituresReported105.00 Mil110.00 Mil115.00 Mil0 AffirmedGuidance: 110.00 Mil for 2026

Q4 2025 Earnings Reported 3/5/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2026 Adjusted EBITDAReported190.00 Mil195.00 Mil200.00 Mil6.0% Higher NewActual: 184.00 Mil for 2025
2026 Capital ExpendituresReported105.00 Mil110.00 Mil115.00 Mil15.8% Higher NewActual: 95.00 Mil for 2025

Q3 2025 Earnings Reported 11/6/2025

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2025 RevenueReported 725.00 Mil 0 AffirmedGuidance: 725.00 Mil for 2025
2025 Adjusted EBITDAReported 184.00 Mil 0 AffirmedGuidance: 184.00 Mil for 2025
2025 Net Debt RatioReported 2.54    
2025 Capital ExpendituresReported90.00 Mil95.00 Mil 0 AffirmedGuidance: 95.00 Mil for 2025

Insider Activity

Updated 10/5/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Prior, Cornelius B JRVI E-Cell Tropical Telecom LtdSell918202631.325,367168,094631,850Form
2Prior, Cornelius B JRVI E-Cell Tropical Telecom LtdSell918202631.034,500139,635792,537Form
3Prior, Cornelius B JRVI E-Cell Tropical Telecom LtdSell904202631.024,542140,882931,803Form
4Prior, Cornelius B JRVI E-Cell Tropical Telecom LtdSell904202631.122,58280,3501,076,195Form
5Jacobs, PatriciaDirectSell902202630.041,50045,060599,538Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Prior, Cornelius B JRVI E-Cell Tropical Telecom LtdSell918202631.325,367168,094631,850Form
2Prior, Cornelius B JRVI E-Cell Tropical Telecom LtdSell918202631.034,500139,635792,537Form
3Prior, Cornelius B JRVI E-Cell Tropical Telecom LtdSell904202631.024,542140,882931,803Form
4Prior, Cornelius B JRVI E-Cell Tropical Telecom LtdSell904202631.122,58280,3501,076,195Form
5Jacobs, PatriciaDirectSell902202630.041,50045,060599,538Form
6Prior, Cornelius B JRVI E-Cell Tropical Telecom LtdSell826202631.3410,000313,3891,164,710Form
7Jacobs, PatriciaDirectSell824202631.141,00031,140668,202Form
8Prior, Cornelius B JRVI E-Cell Tropical Telecom LtdSell821202631.2550015,6251,473,906Form
9Prior, Cornelius B JRVI E-Cell Tropical Telecom LtdSell821202631.8610,000318,6171,518,688Form
10Prior, Cornelius B JRVI E-Cell Tropical Telecom LtdSell819202631.751,00031,7501,830,864Form
11Prior, Cornelius B JRVI E-Cell Tropical Telecom LtdSell819202631.795,745182,6511,865,142Form
12Prior, Cornelius B JRVI E-Cell Tropical Telecom LtdSell817202632.10268352,067,561Form
13Prior, Cornelius B JRVI E-Cell Tropical Telecom LtdSell817202632.052,50080,1252,065,174Form
14Prior, Cornelius B JRVI E-Cell Tropical Telecom LtdSell812202632.557,000227,8382,178,652Form
15Mabey, MarySVP AND GENERAL COUNSELDirectSell811202632.125,000160,6251,940,414Form
16Prior, Cornelius B JRVI E-Cell Tropical Telecom LtdSell810202631.1750015,5852,304,585Form
17Prior, Cornelius B JRVI E-Cell Tropical Telecom LtdSell810202629.747,000208,1592,213,507Form
18Prior, Cornelius B JRVI E-Cell Tropical Telecom LtdSell701202627.655,000138,2352,251,462Form
19Prior, Cornelius B JRVI E-Cell Tropical Telecom LtdSell629202627.1050013,5502,342,416Form
20Prior, Cornelius B JRVI E-Cell Tropical Telecom LtdSell629202627.081,00027,0772,353,940Form
21Prior, Cornelius B JR VI E-Cell TropicalTelecom LtdSell615202627.9619,100534,0362,458,691Form
22Prior, Cornelius B JR VI E-Cell TropicalTelecom LtdSell615202627.302,00054,6002,922,083Form
23Prior, Cornelius B JR VI E-Cell TropicalTelecom LtdSell615202628.306,000169,8003,085,719Form
24Prior, Cornelius B JR VI E-Cell TropicalTelecom LtdSell615202628.2912,610356,7373,254,368Form
25Prior, Cornelius B JR VI E-Cell TropicalTelecom LtdSell615202628.252,50070,6253,606,000Form
26Prior, Cornelius B JR VI E-Cell TropicalTelecom LtdSell615202628.1717,500492,9754,511,313Form
27Prior, Cornelius B JR VI E-Cell TropicalTelecom LtdSell615202627.962,85479,7984,966,982Form
28Prior, Cornelius B JR VI E-Cell TropicalTelecom LtdSell615202627.252,00054,5004,918,625Form
29Prior, Cornelius B JR VI E-Cell TropicalTelecom LtdSell615202627.023,50094,5704,931,150Form
30Prior, Cornelius B JR VI E-Cell Tropical Telecom LtdSell615202627.252,00054,5005,068,500Form
31Prior, Cornelius B JR VI E-Cell Tropical Telecom LtdSell615202627.255,000136,2505,123,000Form
32Prior, Cornelius B JR VI E-Cell TropicalTelecom LtdSell615202626.251,00026,2505,066,250Form
33Prior, Cornelius B JR VI E-Cell TropicalTelecom LtdSell615202625.736,000154,3904,991,943Form

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