ATEC Stock Analysis: Alphatec Holdings | NASDAQ

Spinal Implants, Surgical Instruments, Imaging Systems, Biologics

Total Rating 24

Safety 32

Buy Signal 0.13

Medical Devices
Industry Rotation: -12.1

Market Cap: 1.63B
Avg Turnover: 14.7M

Risk 3d forecast

Volatility73.8%

VaR 5^th Pctl11.2%

VaR vs Median-6.14%

Reward TTM

Sharpe Ratio-0.27

Rel. Str. IBD17.5

Rel. Str. Peer Group27

Character TTM

Beta0.502

Beta Downside0.326

Hurst Exponent0.432

Drawdowns 3y

Max DD70.32%

CAGR/Max DD-0.11

CAGR/Mean DD-0.24

EPS (Earnings per Share)

Last SUE: -0.46
Qual. Beats: 0

Revenue

Rev. CAGR: 24.75%
Rev. Trend: 99.7%

Last SUE: 0.42
Qual. Beats: 0

Warnings

High Debt/EBITDA With Thin Interest Coverage

Interest Coverage Ratio Critical

Altman Z'' In Financial Distress Zone

Overextended 3d

Below Sma 200d

Tailwinds

Squeeze

Ep Pivot

Seasonality 11.6 years of data

Jan -1.1% 5

Feb +1.9% 8

Mar -0.0% 7

Apr -1.9% 20

May -2.4% 29

Jun +7.2% 19

Jul +2.2% 17

Aug +8.5% 12

Sep -3.9% 17

Oct +18.4% 16

Nov -2.7% 11

Dec -0.9% 0

How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.

Description: ATEC Alphatec Holdings

Alphatec Holdings (ATEC) is a Carlsbad, California-based medical technology company founded in 1990 that designs, manufactures, and sells implants, instruments, imaging equipment, and spare parts used in the surgical treatment of spinal disorders across the U.S. and international markets. Its product portfolio spans three main areas: the Alpha InformatiX platform (which includes the EOS full-body imaging system, the SafeOp neural monitoring system, and the Valence intra-operative navigation and robotics system), a range of procedural access systems and fixation products (such as Sigma PTP, Sigma-ALIF, NanoTec, and Invictus), and a biologics line that includes osteoconductive scaffolds, demineralized bone matrix products, cellular bone matrices, and amniotic tissue barriers. The company distributes its products through a combination of independent sales agents and direct sales representatives.

ATEC operates within the medical device industry, specifically the spinal surgery segment, which is generally regarded as one of the more specialized and technologically intensive corners of the broader orthopedic market. Its integration of imaging, neural monitoring, navigation, and robotics within a single procedural ecosystem reflects the industrys broader shift toward digital and computer-assisted spine surgery, while its biologics offering addresses the longstanding need to improve fusion outcomes and reduce complication rates in spinal procedures.

Headlines to Watch Out For

Spine surgery revenue growth accelerates on new product adoption
Path to profitability improves as operating leverage expands margins
Competition intensifies from larger spine medtech peers pressuring share

Piotroski VR-10 (Strict) 3.5

Net Income: -110.0m TTM > 0 and > 6% of Revenue
FCF/TA: 0.01 > 0.02 and ΔFCF/TA 4.33 > 1.0
NWC/Revenue: 25.89% < 20% (prev 42.38%; Δ -16.49% < -1%)
CFO/TA 0.07 > 3% & CFO 56.5m > Net Income -110.0m
Net Debt (513.6m) to EBITDA (13.5m): 38.17 < 3
Current Ratio: 1.89 > 1.5 & < 3
Outstanding Shares: last quarter (155.3m) vs 12m ago 3.62% < -2%
Gross Margin: 66.15% > 18% (prev 68.81%; Δ -2.66% > 0.5%)
Asset Turnover: 103.1% > 50% (prev 86.33%; Δ 16.76% > 0%)
Interest Coverage Ratio: -1.69 > 6 (EBIT TTM -69.0m / Interest Expense TTM 40.7m)

Altman Z'' -4.97

A: 0.27 (Total Current Assets 449.0m - Total Current Liabilities 238.0m) / Total Assets 791.0m
B: -1.88 (Retained Earnings -1.48b / Total Assets 791.0m)
C: -0.09 (EBIT TTM -69.0m / Avg Total Assets 790.7m)
D: -0.02 (Book Value of Equity -12.1m / Total Liabilities 803.1m)
Altman-Z'' = -4.97 = D

Beneish M -2.94

DSRI: 0.92 (Receivables 110.1m/99.9m, Revenue 815.1m/682.2m)
GMI: 1.04 (GM 68.81% / 66.15%)
AQI: 1.00 (AQ_t 0.22 / AQ_t-1 0.22)
SGI: 1.19 (Revenue 815.1m / 682.2m)
TATA: -0.21 (NI -110.0m - CFO 56.5m) / TA 791.0m)
Beneish M = -2.94 (Cap -4..+1) = A

What is the price of ATEC shares?

As of September 12, 2026, the stock is trading at USD 10.58 with a total of 6,451,103 shares traded. Over the past week, the price has changed by +13.40%, over one month by +12.91%, over three months by +30.14% and over the past year by -32.31%.

Current recommended Stop Loss: 10.00 (which is 5.5% or 1.3 ATR below the current price).

Is ATEC a buy, sell or hold?

Alphatec Holdings has received a consensus analysts rating of 4.30. Therefore, it is recommended to buy ATEC.

StrongBuy: 4
Buy: 5
Hold: 1
Sell: 0
StrongSell: 0

What are the forecasts/targets for the ATEC price?

Analysts Target Price	15.8	49.2%

Alphatec Holdings (ATEC) - Fundamental Data Overview as of 12 September 2026

Market Cap USD = 1.63b (1.63b USD * 1.0 USD.USD)
P/E Forward = 16.3666
P/S = 2.0049
P/B = 126.5491
P/EG = 0.4838
Revenue TTM = 815.1m USD
EBIT TTM = -69.0m USD
EBITDA TTM = 13.5m USD
Long Term Debt = 510.7m USD (from longTermDebt, last quarter)
Short Term Debt = 71.6m USD (from shortTermDebt, last quarter)
Debt = 632.3m USD (from shortLongTermDebtTotal, last quarter) + Leases 28.3m
Net Debt = 513.6m USD (calculated: Debt 632.3m - CCE 118.7m)
Enterprise Value = 2.15b USD (1.63b + Debt 632.3m - CCE 118.7m)
Interest Coverage Ratio = -1.69 (Ebit TTM -69.0m / Interest Expense TTM 40.7m)
EV/FCF = 516.8x (Enterprise Value 2.15b / FCF TTM 4.16m)
FCF Yield = 0.19% (FCF TTM 4.16m / Enterprise Value 2.15b)
FCF Margin = 0.51% (FCF TTM 4.16m / Revenue TTM 815.1m)
Net Margin = -13.50% (Net Income TTM -110.0m / Revenue TTM 815.1m)
Gross Margin = 66.15% ((Revenue TTM 815.1m - Cost of Revenue TTM 275.9m) / Revenue TTM)
Gross Margin QoQ = 72.17% (prev 61.08%)
Tobins Q-Ratio = 2.72 (Enterprise Value 2.15b / Total Assets 791.0m)
Interest Expense / Debt = 6.44% (Interest Expense 40.7m / Debt 632.3m)
Taxrate = 21.0% (US federal default 21%)
NOPAT = -54.5m (EBIT -69.0m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 1.89 (Total Current Assets 449.0m / Total Current Liabilities 238.0m)
Debt / Equity = -52.39 (negative equity) (Debt 632.3m / totalStockholderEquity, last quarter -12.1m)
Debt / EBITDA = 38.17 (Net Debt 513.6m / EBITDA 13.5m)
Debt / FCF = 123.6 (Net Debt 513.6m / FCF TTM 4.16m)
Total Stockholder Equity = 13.4m (last 4 quarters mean from totalStockholderEquity)
RoA = -13.91% (Net Income -110.0m / Total Assets 791.0m)
RoE = -819.0% (Net Income TTM -110.0m / Total Stockholder Equity 13.4m)
RoCE = -13.16% (EBIT -69.0m / Capital Employed (Equity 13.4m + L.T.Debt 510.7m))
RoIC = -9.33% (negative operating profit) (NOPAT -54.5m / Invested Capital 583.9m)
WACC = 7.01% (E(1.63b)/V(2.27b) * Re(7.75%) + D(632.3m)/V(2.27b) * Rd(6.44%) * (1-Tc(0.21)))
Discount Rate = 7.75% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 97.15 | Cagr: 4.40%
[DCF] Terminal Value 75.44% ; FCFF base≈4.16m ; Y1≈4.17m ; Y5≈4.42m
[DCF] Fair Price = N/A (negative equity: EV 68.8m - Net Debt 513.6m = -444.9m; debt exceeds intrinsic value)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: -0.46 | # QB: 0
Revenue Correlation: 99.72 | Revenue CAGR: 24.75% | SUE: 0.42 | # QB: 0
EPS current Quarter (2026-09-30): EPS=0.09 | Chg30d=+3.75% | Revisions=+0% | Analysts=9
EPS current Year (2026-12-31): EPS=0.33 | Chg30d=+0.28% | Revisions=+22% | GrowthEPS=+552.4% | GrowthRev=+15.4%
EPS next Year (2027-12-31): EPS=0.60 | Chg30d=+1.23% | Revisions=+38% | GrowthEPS=+84.0% | GrowthRev=+15.2%
[Analyst] Revisions Ratio: +31% (up=9, down=4)