# ATN International, Inc. (ATNI)

> Source: Nexqual · https://nexqual.com/ATNI · data as of 2026-10-29 20:00 UTC · cite as "Nexqual, ATN International, Inc. (ATNI), nexqual.com/ATNI" · informational, not investment advice.

**Price:** USD 25.88 (+0.27% on the day) · last close of Oct 29, 2026; US market closed, not a live price. Prev close 25.81 · day 25.66–26.02 · 52w 14.15–33.41 · market cap $399M · NMS

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $734M, net income $170M (23.2% margin), free cash flow $41.4M (SEC filings).
- Valuation: P/E 2.3x, EV/EBITDA 1.5x, net debt $195M.
- Analysts: None (1 analysts), mean target USD 69 (range 69–69).
- Total return with dividends: 1Y +83.2% vs S&P 500 +14.8%; 5Y -24.5% vs S&P 500 +79.1%.
- Next earnings: 2026-11-04, EPS estimate USD 0.19, revenue estimate $185M. All companies reporting that day: https://nexqual.com/earnings/2026-11-04
- Dividend: USD 1.16 a year (yield 4.49%), paid quarterly; latest ex-dividend date 2026-10-02; annual dividends grew 13.9% a year 2022–2025.
- Short interest: 4.32% of float (as of 2026-10-15), 4.2 days to cover.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $603M | $726M | $762M | $729M | $728M | $734M |
| Operating income | -$15.0M | $7.9M | $13.2M | -$795K | $28.4M | $277M |
| Net income | -$20.8M | -$7.6M | -$14.5M | -$26.4M | -$14.9M | $170M |
| EPS (diluted) | -$1.52 | -$0.67 | -$1.25 | -$2.10 | -$1.38 | — |
| Free cash flow | -$15.9M | -$57.2M | -$51.7M | $17.5M | $43.9M | $41.4M |
| Operating margin | -2.5% | 1.1% | 1.7% | -0.1% | 3.9% | 37.7% |
| Net margin | -3.5% | -1.0% | -1.9% | -3.6% | -2.0% | 23.2% |
| Revenue growth | +32.3% | +20.4% | +5.0% | -4.3% | -0.2% | — |
| Cash + short-term investments | $79.9M | $55.0M | $49.5M | $73.7M | $103M | — |
| Total debt | $367M | $422M | $517M | $557M | $565M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 2.3x · P/S 0.5x · EV/EBITDA 1.5x · EV/Sales 0.8x · P/FCF 9.6x · P/B 0.7x · FCF yield 10.38% · Earnings yield 42.70% · Dividend yield (paid, TTM) 4.22% · Net debt $195M · EV $594M

## Analysts
Consensus None, 1 analysts; mean target USD 69 (low 69, high 69).

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-30) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | +83.2% | -24.5% |
| S&P 500 (SPY) | +14.8% | +79.1% |
| Per year | +83.9% | -5.4% |
| Volatility (annualized) | 52.4% | 51.0% |
| Max drawdown | -22.0% (Mar 2026→Jul 2026) | -69.2% (Nov 2022→May 2025) |

## Dividends
Annual dividend rate USD 1.16 per share, yield 4.49% at the current price. Paid over the last 12 months: USD 1.13 in 4 payments (quarterly).
Most recent ex-dividend date: Oct 2, 2026; payment date: Oct 9, 2026. To receive a dividend, shares must be owned before the ex-dividend date.
Latest change: raised 5.5% to USD 0.29 per payment from USD 0.275, starting with the Jun 30, 2026 ex-dividend date.
Payout ratio 11% of earnings · 5-year average yield 2.64% · annual dividends grew 13.9% a year from 2022 to 2025.
| Ex-dividend date | Amount per share |
|---|---|
| 2026-10-02 | USD 0.29 |
| 2026-06-30 | USD 0.29 |
| 2026-03-31 | USD 0.275 |
| 2025-12-31 | USD 0.275 |
| 2025-09-30 | USD 0.275 |
| 2025-06-30 | USD 0.275 |
| 2025-03-31 | USD 0.24 |
| 2024-12-31 | USD 0.24 |
Total by calendar year: 2022 USD 0.72 · 2023 USD 0.87 · 2024 USD 0.96 · 2025 USD 1.065.

## Short interest
365,071 shares sold short, 4.32% of the float, as of Oct 15, 2026 (exchange short-interest report, published about twice a month). Prior report (Sep 15, 2026): 296,792 shares (+23.0%). Days to cover: 4.2 (short shares ÷ average daily volume).

## Peers (Telecom Services)
SKM (SK Telecom Co., Ltd.) USD 31.12 -2.20% · TIGO (Millicom International Cellular) USD 79.9 +0.30% · TU (Telus Corporation) USD 8.67 +1.40% · CHTR (Charter Communications, Inc.) USD 109 +3.43% · RCI (Rogers Communication, Inc.) USD 31.47 +0.54% · VIV (Telefonica Brasil S.A.) USD 11.44 +0.18%

## More
Full page: https://nexqual.com/ATNI · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in ATNI's own 10-K filed 2026-03-16 (https://www.sec.gov/Archives/edgar/data/879585/000110465926028515/atni-20251231x10k.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | AT&T (T) | "In July 2019, the Company entered into a Network Build and Maintenance Agreement with AT&T Mobility, LLC ("AT&T") that was subsequently amended through March 31, 2025 (the "FirstNet Agreement")." |
| Partner | Verizon (VZ) | "On May 10, 2023, we entered into a Carrier Managed Services Master Agreement (the "Verizon CMS Agreement") with Cellco Partnership d/b/a Verizon Wireless ("Verizon"), pursuant to which we provide a variety of network, in…" |
| Competitor | Comcast (CMCSA) | "In the western US, we experience competitive pressures from Incumbent Local Exchange Carrier ("ILEC") providers such as AT&T, Comcast, Windstream, Lumen and Frontier along with their channel partners and other smaller re…" |

## Revenue by business segment (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY | Operating income | Op. margin |
|---|---|---|---|---|---|
| International Telecom | $96.2M | 52.1% | +1.4% | $21.9M | 22.8% |
| Us Telecommunications | $88.3M | 47.9% | +2.2% | $224.2M | 253.9% |
| Corporate costs (not allocated) | — | — | — | $6.4M | — |
| Total revenue | $184.5M | 100% | — | $246.1M | 133.4% |

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Communication Services | $180.1M | 97.6% | +3.0% |
| — International Telecom (part of Communication Services) | $96.0M | 52.0% | +2.8% |
| — Telecom (part of Communication Services) | $74.6M | 40.4% | +1.9% |
| — Mobility Business (part of Communication Services) | $5.2M | 2.8% | +6.3% |
| — Other Revenue (part of Communication Services) | $3.6M | 1.9% | -14.9% |
| — Construction (part of Communication Services) | $779,000 | 0.4% | -64.8% |
| Fixed | $60.5M | 32.8% | -2.0% |
| Mobility Consumer | $22.0M | 11.9% | +2.4% |
| Fixed Business | $18.9M | 10.2% | +2.6% |
| Other Communication Services | $3.6M | 2.0% | +73.4% |
| Total revenue | $184.5M | 100% | — |
The lines above cover 154.6% of total revenue.

## Revenue by region (fiscal year ended 2025-12-31)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| United States | $347.8M | 47.8% | -1.6% |
| Guyana | $126.0M | 17.3% | +2.8% |
| Bermuda | $119.0M | 16.3% | +1.0% |
| U.S. Virgin Islands | $90.4M | 12.4% | -1.8% |
| Non Us Excluding Bermuda Guyana | $44.8M | 6.2% | +3.6% |
| Total revenue | $728.0M | 100% | — |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.19 | $0.18 | +5.6% | $184.9M | 1 |
| Next quarter (ends 2026-12-31) | $0.18 | $0.18 | +0.0% | $186.1M | 1 |
| Current fiscal year (ends 2026-12-31) | $0.78 | $0.62 | +25.8% | $737.7M | 1 |
| Next fiscal year (ends 2027-12-31) | $1.08 | $1.09 | -0.9% | $751.7M | 1 |

## Earnings history and stock reaction
| Results filed | Quarter | EPS | Consensus | Surprise | Stock reaction |
|---|---|---|---|---|---|
| — | Quarter ended Jun 30, 2026 | −$0.90 | $0.12 | Miss −$1.02 | — |
| — | Quarter ended Mar 31, 2026 | $0.04 | $0.12 | Miss −66.7% | — |
| — | Quarter ended Dec 31, 2025 | −$0.26 | $0.03 | Miss −$0.29 | — |
| — | Quarter ended Sep 30, 2025 | $0.55 | −$0.06 | Beat +$0.61 | — |
EPS as reported against the analyst consensus before the release; surprise uses the cent-rounded figures shown (in dollars when EPS and consensus have opposite signs). Stock reaction = close before the results to close after (the first close following a release after the bell or before the open).