ATEXAnterix Inc.
Is the business good?
The checks split: margins widening and elite returns on assets, but thin cash backing (0.2×).
Operating profit outpaces operating cash flow, watch accruals and working capital. Conversion is improving vs a year ago.
Positive operating leverage, operating profit is growing faster than sales, so margins widen as the business scales.
High-quality, exceptional returns on the assets themselves, not leverage. ROE 33% = margin × turnover × leverage.
Unless marked, from derived.
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. The F-score rewards improvement, so an already-elite company can score mid-pack.
How good a business is ATEX?
Anterix Inc. earns 33% on the capital it employs against a 9.0% cost of capital, so the business is worth more the bigger it gets.
Return on invested capital · cost of capital 9.0% · 24 points above what the capital costs: growth creates value
- Operating margin
- 1011%
Operating margin · Telecom Services median 11% · 12 months to Q1 2027
- Cash conversion
- 0.17×
Cash conversion · −1.48× a year ago · the operating profit has not turned into cash yet
- Share count, year on year
- +4.9%
Share count, year on year · shareholders own a smaller slice than a year ago
| Year | Operating margin |
|---|---|
| FY2021 | −5951% |
| FY2022 | −3399% |
| FY2023 | −858% |
| FY2024 | −242% |
| FY2025 | −194% |
| FY2026 | 1445% |
Details›
- Operating margin12 months to Q1 2027
- 1011%
- Net margin12 months to Q1 2027
- 933%
- Free cash flow margin
- 151%
- R&D as % of revenue
- 68%
- Revenue, trailing twelve months
- $7.0M
- Free cash flow, trailing twelve months
- $11M
- Net income, trailing twelve months
- $66M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 33%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.