ATN International, Inc.
ATNI Communication Services Telecom Services
ATN International, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $728.0 million, roughly unchanged from fiscal 2024. In the quarter to June 2026, revenue grew 1.77%, EPS grew 2,023.2%, free cash flow grew 71.5% and total debt fell 12.0%, each against the same quarter a year earlier. Dividend growth for five consecutive years, operating cash flow growth for three.
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ATN International, Inc. (ATNI) Altman Z-score
ATN International, Inc.'s Altman Z-score for fiscal 2025 is 0.98, in the distress zone (below 1.81).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | 0.98 | 0.10 |
| FY2024 | 0.88 | (0.21) |
| FY2023 | 1.09 | (0.13) |
| FY2022 | 1.22 | 0.04 |
| FY2021 | 1.19 | (1.24) |
| FY2020 | 2.43 | (0.42) |
| FY2019 | 2.85 | (1.01) |
| FY2018 | 3.86 | 1.07 |
| FY2017 | 2.80 | (0.56) |
| FY2016 | 3.36 | (2.69) |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.04 | — | 0.05 | |
| Retained earnings / total assets | 0.19 | — | 0.26 | |
| EBIT / total assets | 0.02 | — | 0.06 | |
| Market value of equity / total liabilities | 0.31 | — | 0.19 | |
| Sales / total assets | 0.44 | — | 0.44 | |
| Altman Z-score | Distress zone | 0.98 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Grey zone | 1.50 | ||
Z and Z″ put ATN International, Inc. in different zones: distress zone by Z, grey zone by Z″.
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| CXDO Crexendo Inc. compare | 8.4× |
| SHEN Shenandoah Telecommunications Co compare | 1.0× |
| ATNI ATN International, Inc. | 1.0× |
| SIFY Sify Technologies Limited compare | 0.7× |
| GLIBK GCI Liberty, Inc. - Series C GCI Group compare | 0.3× |
| GLIBA Liberty Capital Corporation compare | 0.3× |
| GOGO Gogo Inc. compare | 0.2× |
| CCOI Cogent Communications Holdings, Inc. compare | 0.2× |
| OPTU Optimum Communications, Inc. compare | 0.1× |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets