| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 20 | 23.4x | 17.8x | Bottom tier | |
Growth | 96 | 18.9% | 7.1% | Top tier | |
Quality | 86 | 26.5% | 4.5% | Top tier | |
Safety | 83 | — | 2.6x | Top tier | |
Capital Return | 68 | — | 2.12% | Top tier | |
Momentum | 92 | 342.5% | 2.9% | Top tier | |
Sentiment | 21 | 2 | 3 | Bottom tier |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Anterix Inc. owns a nationwide portfolio of licensed low-frequency spectrum in the 900 MHz band and works to prepare and market it to utilities and other entities requiring private, secure communications. The economic value comes from spectrum licensing deals with utilities, broadband license exchange gains, and revenue from products associated with the networks it enables, in addition to regional or nationwide opportunities and potential satellite connectivity applications. After the FCC expanded the configuration to 10 MHz, 40% of counties had been cleared under this configuration, while approximately 3 billion MHz-POPs, or about 85% of the total portfolio, remained available for monetization.
In Q1 of fiscal 2027, Anterix recorded GAAP revenue of $2.0 million, operating expenses of $12.856 million according to the correction provided in the call transcript, net income of $240 thousand, and earnings per share of $0.01. Broadband license exchanges also generated a gain of approximately $11 million, demonstrating that the quarter's result depended heavily on realizing value from spectrum assets, while operating revenue remained limited relative to expenses. The data did not present gross profit or a gross margin that could be relied upon.
Fiscal 2026 revenue was approximately $6.5 million, net income was $90.6 million, and earnings per share were $4.83. In the latest 12 months within fiscal 2027, revenue rose to $7.0 million, while net income reached $65.7 million and earnings per share were approximately $3.35. The company ended Q1 of fiscal 2027 with approximately $116 million in cash and no debt, after collecting approximately $16 million from customers and $20 million from stock option exercises during the quarter.
Automated analysis for informational purposes only — not investment advice.
The analyst consensus is "Buy," with an average target of $115 and a wide range between $69 and $161; the average is slightly above the 52-week range high of $113. The valuation is primarily based on spectrum repricing, as management compares the implied value of approximately $0.60 per MHz-POP with its average deal value of $1.40 and the AWS-3 auction average of $2.50. However, the wide range of targets highlights the risks associated with monetization timing, clearing costs, and reliance on nonrecurring license gains for earnings.
Figures in the text are as of 2026-09-01; the live price is shown at the top of the page.
Anterix realizes value by licensing spectrum to utilities, through broadband license exchanges, and from products associated with the networks it enables. Revenue in Q1 of fiscal 2027 was approximately $2.0 million, while license exchanges generated a gain of approximately $11 million. The company is also pursuing regional and nationwide opportunities and satellite applications, but the data do not include a new definitive deal in these areas as of the August 12, 2026 call.
Management said that approximately 3 billion MHz-POPs remain available for monetization, representing about 85% of the portfolio's total MHz-POPs. This amount includes several of the largest and most valuable urban markets. Management estimated its gross value at more than $4 billion using a benchmark of $1.40 per MHz-POP, or approximately $7.5 billion using a benchmark of $2.50, before clearing and execution costs.
On August 11, 2026, SpaceX submitted a proposal to the FCC to add a satellite-based buildout option, and Anterix supported the proposal because it could expand the ways its spectrum can be used and buildout requirements can be met. Management also said on August 12, 2026 that the first round of direct-to-device connectivity tests with Lynk was highly successful. These developments do not establish the existence of a definitive sale or licensing deal with SpaceX or Lynk, but they add a potential path to the spectrum's existing utility uses.
Anterix ended Q1 of fiscal 2027 with approximately $116 million in cash and no debt. During the quarter, it received approximately $16 million in customer payments and $20 million from stock option exercises and spent approximately $7 million on spectrum clearing. The company also expects to collect approximately $10 million in contracted proceeds during the remainder of fiscal 2027, but management did not specify the total cost required to clear the entire portfolio.
Fiscal 2026 revenue was approximately $6.5 million, while net income reached $90.6 million and earnings per share reached $4.83. In Q1 of fiscal 2027, revenue was $2.0 million and net income was $240 thousand after a license gain of approximately $11 million. These figures indicate that gains from managing and exchanging spectrum assets can affect net income more significantly than operating revenue, making earnings volatile from one period to another.
The primary risk is that operating revenue in Q1 of fiscal 2027 was only $2.0 million versus corrected operating expenses of $12.856 million. Monetizing the spectrum also requires spending on clearing and negotiations with incumbent frequency users and the FCC, and management did not provide a total estimate for this cost. Additional factors include the wide range of analyst targets between $69 and $161 and insider net sales of $30.7 million over three months, with the caveat that these sales may have been prearranged.
