ATECAlphatec Holdings, Inc.
Is it safe?
Forensics clean, with a caveat: clean books and insiders buying, but heavy debt (CCC) and big price swings.
Reported earnings show no manipulation flags Beneish M-score, a forensic model that detects earnings-manipulation patterns (receivables outrunning sales, margins slipping, accrual-heavy profit).
Mixed fundamental signals Piotroski F-score, nine pass/fail tests of year-over-year financial health across profitability, balance sheet and efficiency. 7 to 9 is strong, 0 to 3 weak.
Insiders were net buyers (+$934K, 90 days to Oct 8, 2026). SEC Form 4 filings: officers and directors must report their own trades within two business days.
Highly leveraged, watch solvency. A rule of thumb on leverage, not a credit rating.
Large price swings, high volatility. Worst drawdown -87% · now 53% below its 52-week high.
Unless marked, from SEC EDGAR, as of Dec 31, 2025.
Against the whole market›
Percentile against every name Ryufin tracks. Higher is better; the tick marks the middle of the market. Context, not one of the checks above.
Where this answer is blind. Altman sits structurally low for utilities and pipelines; Beneish runs high for fast growers, since sales growth alone lifts it; banks and REITs are excluded.
Can ATEC take a bad year?
Alphatec Holdings, Inc. carries $522M of net debt at 27.3× EBITDA: a heavy load to carry through a bad year.
Net debt · as at Q2 2026 · over four years of earnings before interest, tax and depreciation, heavy
- Net debt / EBITDA
- 27.3×
Net debt / EBITDA
- Interest cover
- none
Interest cover · no operating profit to pay the interest bill from
- Annualised volatility
- 69%
Annualised volatility · three times the market's own swing
Details›
- Total debtQ2 2026
- $641M
- Cash and short-term investments
- $119M
- Net debt
- $522M
- EBITDA, trailing twelve months
- $19M
- Operating profit, trailing twelve months
- −$49M
- Total debt / EBITDA
- 33.6×
- Annualised volatilitytwo years of daily moves
- 69%
- Worst drawdown on file
- −87%
- Below its 52-week high
- 53%
Balance sheet from SEC filings; drawdown and volatility from end-of-day closes; Altman Z from the filed statements.