Forensic Analysis · Communication Services / Telecom · as of Jun 28, 2026
ATN International, Inc. (ATNI)
A forensic read on ATN International, Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
C · Mixed — selective
Forensic grade
Grey Zone
Financial health
1.4
Altman Z-score
Clean
Earnings quality
3
Forensic signals
-2.0%
ROE
$416M
Market cap
4.34%
Dividend yield
ATN International, Inc. earns a C (Mixed — selective) forensic quality grade, and its Altman Z-score is 1.4, placing it in the Grey zone. 3 forensic signals were flagged in its latest SEC filings, led by return on invested capital.
What the filings flag
2%Return on invested capital.Return on invested capital is 2% and steady — well below its ~8% cost of capital, so reinvested dollars may be destroying value, not building it.
1% of revStock-based comp load.Stock-based compensation ran 1% of revenue and 19% of free cash flow in FY2025 — about $0.56 per diluted share. Meaningful — reported free cash flow flatters the economics, since SBC is a real cost paid in shares.
$59MGoodwill impairments.Took $59M of goodwill writedowns across 3 year(s) (FY2019 ($3M), FY2021 ($21M), FY2024 ($35M)). Writedowns mean past acquisitions underperformed what was paid for them — worth weighing on capital-allocation skill.
Key fundamentals
Net Margin-2.0%
Debt / Equity1.27x
Free Cash Flow$43.9M
Latest Revenue$728.0M
Return on Equity-3.4%
Revenue Growth YoY-0.2%
Go deeper — free with an account
The forensic grade and screens above are free — no account needed. An account adds the full interactive deep-dive on ATN International, Inc.:
🔒The written investment read — what the numbers mean, in plain English
🔒Ask anything about ATNI's filings — AI Q&A across the 10-K, 10-Qs & 8-Ks
🔒Interactive valuation — reverse-DCF sliders, Monte Carlo & scenario stress
🔒Calibrated 12-month price forecast, with the math shown