One-glance verdict
Undervalued
$218.72 our estimate vs market $94.96
Wall Street consensus: $93.50 (-57.3% lower than our fair-value estimate)
57% below our estimate, below the bear case
Fundamentals snapshot
Atkore Inc
ATKR · NYQ · Industrials · Electrical Equipment & Parts
Current price
$94.96
52-week range
$53.75 - $94.97
Market cap
$3.21B
Balance sheet
Watch
7.14x Adequate
Net debt $567.31M. Interest coverage shows how many times profit covers the interest bill.
What stands out
3 Rewards
3 Risks
3 rewards · 3 risks
- Reward Revenue grew 2.9% last year.
- Reward Free cash flow was positive in 10/10 years.
- Risk Operating margin compressed from 31.5% to 9.7% over 3 years.
- Risk Return on equity was -11.9% last year — the company lost money on shareholders' equity.
What this company does
Atkore Inc
Atkore Inc. makes and sells a lot of things that protect wires and pipes, like metal and plastic conduits and framing systems, mostly in the United States. Their money comes mainly from selling these products to builders and companies that need to protect their electrical and infrastructure needs, which is important because their products help keep essential services running smoothly.
How the company got here
Atkore Inc.'s story began in 1959 as Allied Tube & Conduit, which introduced an innovative galvanization process for its products. Over the decades, the company grew and was eventually acquired by Tyco International. In 2010, it was established as a standalone company named Atkore Inc. and later went public in 2016. Since then, Atkore has strategically expanded its offerings through acquisitions and focused on optimizing its operations to become a leading provider of electrical and infrastructure solutions.
What it actually does
Atkore Inc. is a manufacturer that creates products essential for electrical systems, safety, and infrastructure. Imagine the protective tubes (conduits) that house electrical wires, the metal framing that supports buildings, and systems that organize and protect cables. These products are vital for constructing and maintaining everything from residential homes to large industrial facilities, data centers, and renewable energy projects. Atkore's solutions are designed to ensure that electrical systems and critical infrastructure are reliable and well-protected.
Electrical
The Electrical segment is a core part of Atkore's business, focusing on products that are fundamental to how electricity is distributed and managed. This includes a variety of metal and plastic conduits, which are essentially protective pipes for electrical wires, along with the fittings needed to connect them. It also encompasses electrical cables and flexible conduit systems. These products are primarily used by electricians and contractors in new construction and renovation projects to ensure safe and efficient electrical installations in commercial, industrial, and residential buildings.
Safety & Infrastructure
The Safety & Infrastructure segment offers solutions that are crucial for the stability, security, and organization of essential facilities. This part of the business provides metal framing and fittings that act as structural supports, mechanical tubes and pipes, and advanced cable management systems. It also includes perimeter security products designed to protect physical spaces. These products are essential for a diverse range of markets, including industrial sites, data centers, and government infrastructure, ensuring the integrity and safety of operations.
Price history
How the share price has moved
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Loading price history…
Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2024 Q4
$154.31M
FY2025 Q1
$33.08M
FY2025 Q2
$64.23M
FY2025 Q3
$10.13M
FY2025 Q4
$188.22M
FY2026 Q1
$-67.25M
FY2026 Q2
$13.80M
FY2026 Q3
$-77.28M
Revenue
$794.80M
Net income
$745.00K
Diluted EPS
0.02
Operating cash flow
$-63.10M
Free cash flow
$-77.28M
Fetching…
Sources
Revenue
$731.38M
Net income
$-124.07M
Diluted EPS
-3.65
Operating cash flow
$28.27M
Free cash flow
$13.80M
Fetching…
Sources
Revenue
$655.55M
Net income
$15.03M
Diluted EPS
0.44
Operating cash flow
$-55.50M
Free cash flow
$-67.25M
Fetching…
Sources
Revenue
$752.01M
Net income
$-54.42M
Diluted EPS
-1.55
Operating cash flow
$210.40M
Free cash flow
$188.22M
Fetching…
Sources
Revenue
$735.04M
Net income
$42.96M
Diluted EPS
1.25
Operating cash flow
$31.42M
Free cash flow
$10.13M
Fetching…
Sources
Revenue
$701.73M
Net income
$-50.06M
Diluted EPS
-1.46
Operating cash flow
$86.57M
Free cash flow
$64.23M
Fetching…
Sources
Revenue
$661.60M
Net income
$46.34M
Diluted EPS
1.31
Operating cash flow
$74.37M
Free cash flow
$33.08M
Fetching…
Sources
Revenue
$788.30M
Net income
$73.12M
Diluted EPS
2.08
Operating cash flow
$199.08M
Free cash flow
$154.31M
Fetching…
Sources
Is it cheap or expensive?
Fair value $218.72 vs current price $94.96
Wall Street consensus is the average analyst price target: $93.50 (-57.3% lower than our fair-value estimate).
Our most-likely fair value is $218.72 a share — about 130.3% above today's price of $94.96, so the stock currently looks cheap (undervalued).
Is it drowning in debt?
Watch
Net debt $567.3M. Interest coverage 7.1x.
Net debt
$567.31M
Interest coverage
7.14x
Atkore Inc's profit covers its interest bill about 7.1 times over.
Watch
Worse cushion
Baseline
Better cushion
ATKR
BASELINE
Atkore Inc
Total debt $913.52M Interest coverage 7.14x This is the baseline the peer rows are being compared against.
Total debt $2.18B Interest coverage 8.22x +15% vs ATKR Carries about 1.2x more debt cushion than ATKR.
Total debt $5.31B Interest coverage 18.86x +164% vs ATKR Carries about 2.6x more debt cushion than ATKR.
Total debt $560.39M Interest coverage 4.76x -33% vs ATKR Carries about 1.5x less debt cushion than ATKR.
Total debt $2.52M Interest coverage 13.89x +94% vs ATKR Carries about 1.9x more debt cushion than ATKR.
What you should know
The case for and against ATKR
3 Rewards
3 Risks
Rewards
-
Revenue grew 2.9% last year.
-
Free cash flow was positive in 10/10 years.
-
Dividend yield is 0.0% with 1-year payout history.
Risks
-
Operating margin compressed from 31.5% to 9.7% over 3 years.
-
Return on equity was -11.9% last year — the company lost money on shareholders' equity.
-
Insider ownership is only 1.0% (peer median: 1.3%).
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
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Forward P/E
14.85x
P/B
2.51x
P/S
1.09x
EV/EBITDA
12.89x
PEG ratio
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Profitability
How much profit each dollar creates
Gross margin
20.6%
Operating margin
9.7%
Net margin
-5.5%
ROE
-11.9%
ROA
4.0%
Health
Liquidity and balance-sheet strength
Debt / equity
0.72x
Current ratio
2.73x
Quick ratio
1.91x
Total debt
$913.52M
Total cash
$346.22M
Growth
How the business has been compounding
Revenue TTM
$2.93B
Revenue 5Y CAGR
-0.7%
EPS TTM
-4.83
EPS 5Y CAGR
—
Cash flow
How much cash the business throws off
Operating CF TTM
$120.07M
Free CF TTM
$295.65M
FCF margin
10.1%
Dividend
Shareholder payout
Yield
0.0%
Payout ratio
40.1%
Last ex-div date
2026-08-18