Is Anterix, Inc. overvalued or undervalued?

As of 17 October 2025, the valuation grade for Anterix, Inc. moved from attractive to very attractive. Despite this positive grade change, the company appears to be overvalued based on its current financial metrics. The Price to Book Value stands at 3.57, while the EV to Capital Employed is 4.17, indicating that the market is pricing the company at a premium compared to its underlying assets. Additionally, the EV to EBITDA ratio is -9.75, suggesting significant operational challenges.
In comparison to its peers, Anterix has a P/E ratio of 12.26, while Spok Holdings, Inc. trades at a higher P/E of 20.56, reflecting a stark difference in market perception despite both being categorized as very attractive. Anterix's recent stock performance has lagged significantly behind the S&P 500, with a year-to-date return of -33.55% compared to the S&P 500's 13.30%. This underperformance reinforces the notion that Anterix may be overvalued in the current market context.