Reviewed listing: NASDAQ:ATEX · Analysis dated Oct 22, 2026
How does the company make money?
Anterix sells or leases 900 MHz spectrum rights to utilities. They can use them to build their own communications networks for their electricity systems. Contract payments, revenue recognition, and spectrum clearance often occur at different times.
What supports the business?
Existing long-term contracts and a rare spectrum portfolio provide a credible business proposition. At the end of June, 197.8 million USD in remaining performance obligations were reported.
What could improve?
New utility contracts and successful clearance of additional frequencies could increase value. The key is how much actually remains for shareholders after cleanup costs, investment, and operations.
How is the stock price assessed?
This assessment refers to the analysis and its quoted price shown here. It is not a live quote or a personal recommendation to buy.
76.77 USD imply a market capitalization of around 1.51 billion USD. This is not supported by current ongoing earnings. Without a reliably quantified value for the spectrum that has not yet been sold, a reasonable maximum price remains unresolved.
What is the main risk?
Customers face long decision and approval timelines. Prepayments may have to be refunded if obligations are not met, and accounting gains from exchanges are not recurring cash inflows.
What is the overall assessment?
Anterix owns strategically interesting radio spectrum for private electric-grid communications. However, today’s market capitalization requires substantial future monetization that cannot yet be reliably valued from revenue and contract payments to date.
Continue exploring this stock in your account
A free Marqora account gives you the detailed analysis with further evidence and lets you compare and save stocks. Your selected stock is kept when you sign in or register.
Open the full analysis in a free account →
Already have an account? Sign in