Anterix

ATEX

Telecommunications Services · Communication Services

Price

$100.35

+6.38 (+6.79%)

Market Cap

$1.96B

Exchange

NASDAQ

Winston Score

Winston is serious

Mixed quality — meaningful strengths and weaknesses.

Share count rising — dilution

+3.4% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 18.1M (2022) → 18.8M (2026)

Anterix Inc. operates as a wireless communications company. The company focuses on commercializing its spectrum assets to enable the targeted utility and critical infrastructure customers to deploy private broadband networks, technologies, and solutions. It holds licensed spectrum in the 900 MHz band with coverage throughout the United States, Alaska, Hawaii, and Puerto Rico. The company was formerly known as pdvWireless, Inc. and changed its name to Anterix Inc. in August 2019. Anterix Inc. was

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+10.2% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+198.0% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$5M/ year

↓ Declining (-18% vs prior year)

72.3% of revenue

6.0x the sector average (12%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

3.9%ownership

Relatively low insider ownership

Cash Runway

~6 months

$47M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Cash watch

Anterix has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin

100.0%

Premium pricing power — 100.0% gross margin

Operating Margin

676.5%

Excellent — 676.5% operating margin

ROCE

6.0%

Weak — 6.0% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales YoY

+0.5%

Nearly flat sales (0.5% YoY)

EPS YoY

N/A

Data not available

EPS Consistency

6/8 quarters

Earnings grew in most of the last 8 quarters

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Cash Flow

Cash Conversion

-33%

Weak — only -33% of profit becomes cash

FCF Margin

-896.8%

Burning cash (-896.8%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

Debt / Equity

N/A

Data not available

Interest Cover

100.00x

—

Comfortably covers interest (100.0x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

P/E Ratio (TTM)

23.0x

Growth-priced — P/E 23.0

P/E above the market average. People are paying up for expected growth.

P/E vs Forward

-45.4

SLOWING

Earnings expected to fall — forward P/E higher than today

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Dividends

Not applicable for this business.

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