Anterix Inc.
ATEX Communication Services Telecom Services
Anterix Inc.’s revenue for fiscal 2026 (year ended March 2026) was $6.5 million, up 7.79% from fiscal 2025. In the quarter to June 2026, revenue grew 38.1%, EPS fell 99.3% and free cash flow grew 33.9%, each against the same quarter a year earlier. Revenue growth for five consecutive years; insiders bought in the last twelve months.
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Anterix Inc. (ATEX) Beneish M-score
Anterix Inc.'s Beneish M-score for fiscal 2026 is −1.58; values above −1.78 are the model's flag for possible earnings manipulation — a statistical screen, not a finding.
Beneish M-score, annual
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Annual newest first
| Period | Beneish M-score | Change (points) |
|---|---|---|
| FY2026 | −1.58 | 0.51 |
| FY2025 | −2.08 | 0.48 |
| FY2024 | −2.56 | (29.70) |
| FY2023 | 27.14 | (14.39) |
| FY2022 | 41.54 | 46.18 |
| FY2019 | −4.64 | (18.43) |
| FY2016 | 13.79 | — |
How fiscal 2026’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 0.98 | — | 0.90 | |
| Gross margin index | 1.00 | — | 0.53 | |
| Asset quality index | 0.91 | — | 0.37 | |
| Sales growth index | 1.08 | — | 0.96 | |
| Depreciation index | 0.82 | — | 0.09 | |
| SG&A index | 0.82 | — | −0.14 | |
| Total accruals to total assets | 0.18 | — | 0.86 | |
| Leverage index | 0.95 | — | −0.31 | |
| Beneish M-score | Flagged by the model | −1.58 | ||
How the Beneish M-score works
M = −4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI (Beneish, 1999): eight changes in the accounts from one fiscal year to the next, which the model weighs for the pattern seen in companies that later restated their earnings. Higher is worse.
| below −2.22 | Low — no pattern the model associates with manipulation |
|---|---|
| −2.22 to −1.78 | Elevated |
| above −1.78 | Flagged by the model |
−1.78 is the cut-off usually quoted from the paper, −2.22 a common conservative one. A statistical screen, not a finding of wrongdoing.
When asset quality, depreciation or SG&A cannot be worked out, that index is set to 1, as Beneish did, and the breakdown says so; with all three missing there is no score. Depreciation includes amortisation, and asset quality leaves out securities. Not worked out for banks, insurers and REITs.
Beneish M-score against peers
| Company | Beneish M-score |
|---|---|
| LBTYA Liberty Global Ltd compare | −4.0× |
| LBTYK Liberty Global Ltd compare | −4.0× |
| KYIV Kyivstar Group Ltd. compare | −3.6× |
| TV Grupo Televisa S.A. compare | −3.2× |
| LILA Liberty Latin America Ltd. compare | −3.1× |
| LILAK Liberty Global PLC compare | −3.0× |
| TEO Telecom Argentina Stet - France Telecom S.A. compare | −2.6× |
| IDT IDT Corporation compare | −2.2× |
| ATEX Anterix Inc. | −1.6× |
What Beneish M-score is
The Beneish M-Score combines eight year-on-year changes in the accounts into a statistical screen for patterns seen in companies that overstated earnings.
−4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI