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 given its current financial metrics. The Price to Book Value stands at 3.57, while the EV to Capital Employed is 4.17, indicating a premium over its asset value. Additionally, the EV to Sales ratio is exceptionally high at 83.06, suggesting that the market is pricing the company at a significant multiple relative to its sales.
In terms of peer comparison, Anterix's EV to EBITDA of -9.75 contrasts sharply with Spok Holdings, Inc., which has an EV to EBITDA of 13.4913, highlighting a disparity in operational performance. Furthermore, the company has underperformed relative to the S&P 500, with a year-to-date return of -33.55% compared to the index's gain of 13.30%. This trend continues over longer periods, reinforcing the notion that Anterix may not be a sound investment at its current valuation.