Atlantic International Corp.

ATLN

HealthcareMedical - Diagnostics & ResearchNASDAQ

$1.50

Market Cap: $119.04M

Atlantic International Corp. (ATLN) Valuation Summary

Updated May 10, 2026 08:12

Model	Range	Fair Value	Upside
▸ Discounted Cash Flow
Revenue DCF 5Y	$0.03 – $0.90	$0.03	-97.7%
Revenue DCF 10Y	$0.01 – $0.95	$0.12	-91.8%
▸ Trading Multiples
EV/Revenue	$247.01 – $962.18	$254.31	+16853.7%

Valuation History

DCF Analysis

Atlantic International Corp. (ATLN) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$0.12

Market Price

$1.50

Upside / Downside

-91.8%

Verdict

Overvalued

Using a Revenue DCF model with operating margin convergence from -11.5% to a target of 13.2% over 5 years, discounted at a WACC of 9.9%, Atlantic International Corp. (ATLN) has an intrinsic value of $0.12 per share (range: $0.01 – $0.95).

Key Assumptions

Current Operating Margin

-11.5%

Target Operating Margin

13.2%

WACC

9.9%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

0.0%

Target CapEx/Rev

6.0%

D&A/Revenue

0.5%

Tax Rate

21.0%

Operating margin fades linearly from the current level to the industry target over the 5-year projection. CapEx intensity fades from the historical average to a maintenance level (D&A × 1.5). Tax is only applied when operating income is positive (NOL shield).

Margin Convergence Projection

USD in millions. Mid-year discounting convention.

Year	Revenue	Growth	Op Margin	Op Income	NOPAT	D&A	CapEx	ΔNWC	FCFF	PV(FCFF)
2026	481	10.4%	-6.6%	-32	-32	2	(3)	-20	-12	-12
2027	38	-92.2%	-1.6%	-1	-1	0	(0)	-41	41	35
2028	38	0.6%	3.3%	1	1	0	(1)	0	0	0
2029	38	0.6%	8.3%	3	2	0	(1)	0	2	1
2030	38	0.6%	13.2%	5	4	0	(1)	0	3	2
2031	39	1.0%	13.2%	5	4	0	(1)	0	3	2
2032	39	1.4%	13.2%	5	4	0	(2)	0	3	1
2033	40	1.8%	13.2%	5	4	0	(2)	0	2	1
2034	41	2.2%	13.2%	5	4	0	(2)	0	2	1
2035	42	2.6%	13.2%	6	4	0	(3)	0	2	1

Enterprise Value Bridge

Sum of PV(FCFF)33

Terminal Value (Gordon Growth at 3.0%)29

PV of Terminal Value12

Enterprise Value45

(–) Net Debt38

Equity Value7

(÷) Shares Outstanding55

Fair Value per Share$0.12

Sensitivity Analysis — WACC × Target Operating Margin

WACC \ Target Op. Margin	7.2%	10.2%	13.2%	16.2%	19.2%
7.9%	$-0	$-0	$0	$1	$1
8.9%	$-0	$-0	$0	$0	$1
9.9%	$-0	$-0	$0	$0	$1
10.9%	$-0	$-0	$0	$0	$0
11.9%	$-0	$-0	$0	$0	$0

Current price: $1.50. Green = undervalued, Red = overvalued.

Working Capital Assumption

Net Working Capital is modeled at 9.3% of revenue (historical average of receivables + inventory − payables). Changes in NWC (ΔNWC) are computed year-over-year and subtracted from free cash flow.

Atlantic International Corp. (ATLN) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$0.03

Market Price

$1.50

Upside / Downside

-97.7%

Verdict

Overvalued

Key Assumptions

Current Operating Margin

-11.5%

Target Operating Margin

13.2%

WACC

9.9%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

0.0%

Target CapEx/Rev

6.0%

D&A/Revenue

0.5%

Tax Rate

21.0%

Margin Convergence Projection

USD in millions. Mid-year discounting convention.

Year	Revenue	Growth	Op Margin	Op Income	NOPAT	D&A	CapEx	ΔNWC	FCFF	PV(FCFF)
2026	481	10.4%	-6.6%	-32	-32	2	(6)	-20	-15	-14
2027	38	-92.2%	-1.6%	-1	-1	0	(1)	-41	40	35
2028	38	0.6%	3.3%	1	1	0	(1)	0	-0	-0
2029	38	0.6%	8.3%	3	2	0	(2)	0	1	1
2030	38	0.6%	13.2%	5	4	0	(2)	0	2	1

Enterprise Value Bridge

Sum of PV(FCFF)22

Terminal Value (Gordon Growth at 3.0%)28

PV of Terminal Value18

Enterprise Value40

(–) Net Debt38

Equity Value2

(÷) Shares Outstanding55

Fair Value per Share$0.03

Sensitivity Analysis — WACC × Target Operating Margin

WACC \ Target Op. Margin	7.2%	10.2%	13.2%	16.2%	19.2%
7.9%	$-0	$-0	$0	$1	$1
8.9%	$-0	$-0	$0	$0	$1
9.9%	$-0	$-0	$0	$0	$1
10.9%	$-0	$-0	$-0	$0	$0
11.9%	$-0	$-0	$-0	$0	$0

Current price: $1.50. Green = undervalued, Red = overvalued.

Working Capital Assumption

Net Working Capital is modeled at 9.3% of revenue (historical average of receivables + inventory − payables). Changes in NWC (ΔNWC) are computed year-over-year and subtracted from free cash flow.

Trading Multiples

Fair Value

$254.31

Market Price

$1.50

Upside / Downside

+16853.7%

Verdict

Undervalued

Using the industry peer median EV/Revenue multiple (trailing + forward), Atlantic International Corp. (ATLN) has a fair value of $254.31 based on 4 comparable companies in the Medical - Diagnostics & Research industry.

EV/Revenue Valuation — Medical - Diagnostics & Research

USD in millions except Fair Price. Subject company highlighted.

	Mkt Cap ($M)	Trailing EV/Revenue	Forward EV/Revenue
Atlantic International Corp.ATLN	82	0.3x	120547.7x
Anteris Technologies Global Corp.AVR	242	121.2x	29.1x
Milestone Pharmaceuticals Inc.MIST	165	97.2x	4.5x
Insight Molecular Diagnostics Inc.IMDX	134	31.2x	89.0x
Neuronetics, Inc.STIM	128	1.2x	1.1x
Industry Median		64.2x	16.8x
(*) Revenue		436	0
= Enterprise Value		27,972	0
(-) Net Debt		38	38
Equity Value		27,934	-38
(/) Outstanding shares		55	55
Fair Price		$509	$-1

Selected Fair Value (avg of trailing + forward)

$254.31

+16853.7%

Disclaimer: Sweet Value Lab provides estimated intrinsic values for informational purposes only. This is not financial advice. All models rely on assumptions that may not reflect future performance. Always do your own research before making investment decisions.

Model

Range

Fair Value

Upside

▸ Discounted Cash Flow

Revenue DCF 5Y

$0.03 – $0.90

$0.03

-97.7%

Revenue DCF 10Y

$0.01 – $0.95

$0.12

-91.8%

▸ Trading Multiples

EV/Revenue

$247.01 – $962.18

$254.31

+16853.7%

DCF Analysis

Atlantic International Corp. (ATLN) Revenue DCF (5Y)

REVENUE DCF FAIR VALUE

$0.12

Market Price

$1.50

Upside / Downside

-91.8%

Verdict

Overvalued

Key Assumptions

Current Operating Margin

-11.5%

Target Operating Margin

13.2%

WACC

9.9%

Terminal Growth Rate

3.0%

Historical CapEx/Rev

0.0%

Target CapEx/Rev

6.0%

D&A/Revenue

0.5%

Tax Rate

21.0%

Margin Convergence Projection

USD in millions. Mid-year discounting convention.

Year	Revenue	Growth	Op Margin	Op Income	NOPAT	D&A	CapEx	ΔNWC	FCFF	PV(FCFF)
2026	481	10.4%	-6.6%	-32	-32	2	(3)	-20	-12	-12
2027	38	-92.2%	-1.6%	-1	-1	0	(0)	-41	41	35
2028	38	0.6%	3.3%	1	1	0	(1)	0	0	0
2029	38	0.6%	8.3%	3	2	0	(1)	0	2	1
2030	38	0.6%	13.2%	5	4	0	(1)	0	3	2
2031	39	1.0%	13.2%	5	4	0	(1)	0	3	2
2032	39	1.4%	13.2%	5	4	0	(2)	0	3	1
2033	40	1.8%	13.2%	5	4	0	(2)	0	2	1
2034	41	2.2%	13.2%	5	4	0	(2)	0	2	1
2035	42	2.6%	13.2%	6	4	0	(3)	0	2	1

Enterprise Value Bridge

Sum of PV(FCFF)33

Terminal Value (Gordon Growth at 3.0%)29

PV of Terminal Value12

Enterprise Value45

(–) Net Debt38

Equity Value7

(÷) Shares Outstanding55

Fair Value per Share$0.12

Sensitivity Analysis — WACC × Target Operating Margin

WACC \ Target Op. Margin	7.2%	10.2%	13.2%	16.2%	19.2%
7.9%	$-0	$-0	$0	$1	$1
8.9%	$-0	$-0	$0	$0	$1
9.9%	$-0	$-0	$0	$0	$1
10.9%	$-0	$-0	$0	$0	$0
11.9%	$-0	$-0	$0	$0	$0

Current price: $1.50. Green = undervalued, Red = overvalued.

Working Capital Assumption

Net Working Capital is modeled at 9.3% of revenue (historical average of receivables + inventory − payables). Changes in NWC (ΔNWC) are computed year-over-year and subtracted from free cash flow.

Trading Multiples

Fair Value

$254.31

Market Price

$1.50

Upside / Downside

+16853.7%

Verdict

Undervalued

EV/Revenue Valuation — Medical - Diagnostics & Research

USD in millions except Fair Price. Subject company highlighted.

	Mkt Cap ($M)	Trailing EV/Revenue	Forward EV/Revenue
Atlantic International Corp.ATLN	82	0.3x	120547.7x
Anteris Technologies Global Corp.AVR	242	121.2x	29.1x
Milestone Pharmaceuticals Inc.MIST	165	97.2x	4.5x
Insight Molecular Diagnostics Inc.IMDX	134	31.2x	89.0x
Neuronetics, Inc.STIM	128	1.2x	1.1x
Industry Median		64.2x	16.8x
(*) Revenue		436	0
= Enterprise Value		27,972	0
(-) Net Debt		38	38
Equity Value		27,934	-38
(/) Outstanding shares		55	55
Fair Price		$509	$-1

Selected Fair Value (avg of trailing + forward)

$254.31

+16853.7%