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1. Company Snapshot

1.a. Company Description

Atkore Inc.manufactures and sells electrical, safety, and infrastructure products in the United States and internationally.The company offers electrical products, including conduits cables, and installation accessories.


It also provides safety and infrastructure solutions, such as metal framing, mechanical pipe, perimeter security, and cable management.The company offers its products under the Allied Tube & Conduit, AFC Cable Systems, Kaf-Tech, Heritage Plastics, Unistrut, Power-Strut, Cope, US Tray, FRE Composites, Calbond, and Calpipe brands.It serves a group of end markets, including new construction; maintenance, repair, and remodel, as well as infrastructure; diversified industrials; alternative power generation; healthcare; data centers; and government through electrical, industrial, and mechanical contractors, as well as original equipment manufacturers.


The company was formerly known as Atkore International Group Inc.and changed its name to Atkore Inc.in February 2021.


Atkore Inc.was founded in 1959 and is headquartered in Harvey, Illinois.

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1.b. Last Insights on ATKR

Atkore Inc.'s recent performance was positively driven by its strategic review and activist involvement, which created upside potential. The company's plan to divest its HDPE business could boost margins by 40 bps and position it as a pure-play electrical infrastructure company. Additionally, the company's $144 million deployment towards share repurchases and dividend payments returned cash to shareholders. Atkore's Net Sales of $2.9 billion in fiscal 2025 and organic volume growth for the third consecutive year also contributed to its performance.

1.c. Company Highlights

2. Atkore's Strategic Shift: A Deep Dive into Q4 2025 Earnings

In Q4 2025, Atkore reported net sales of $752 million, with adjusted EBITDA of $71 million, and adjusted EPS of $0.69. For FY 2025, the company achieved net sales of $2.9 billion, with adjusted EBITDA of $386 million and adjusted EPS of $6.05. Notably, organic volume grew 1.4% in Q4, driven by double-digit growth in plastic pipe, conduit, and fittings. The company's cash flow generation remains a strength, supporting a healthy balance sheet and enabling strategic opportunities and capital returns to shareholders.

Publication Date: Nov -21

📋 Highlights
  • Strategic Alternatives Evaluation: Board exploring potential sale/merger and HDPE business divestiture, with two additional noncore assets targeted for sale by late Q1 2026/early Q2 2026.
  • Q4 2025 Financial Performance: Net sales $752M, adjusted EBITDA $71M, adjusted EPS $0.69, with 1.4% organic volume growth and double-digit gains in plastic pipe/conduit.
  • FY 2026 Guidance: Sales of $3.0B–$3.1B, adjusted EBITDA $340M–$360M, and adjusted EPS $5.05–$5.55, with EBITDA expected to strengthen in H2 2026.
  • Cost Optimization & Capacity Shift: Closure of three plants by Q2 2026 to generate $10M–$12M annualized savings, with production relocation to existing facilities.
  • Market Growth Drivers: Double-digit growth in data center-related PVC products and solar investments, alongside strong demand from healthcare/power utilities/education sectors.

Guidance and Outlook

For FY 2026, Atkore expects mid-single-digit volume growth, with net sales in the range of $3.0 billion to $3.1 billion and adjusted EBITDA between $340 million and $360 million. Adjusted EPS is expected to be in the range of $5.05 and $5.55. The company anticipates strong growth in construction end markets, including data centers, healthcare, power utilities, and education. As the company noted, "the company expects to see its fair share of growth in the data center market, with certain product lines growing at strong double-digit rates."

Strategic Alternatives and Divestitures

Atkore's Board of Directors is evaluating strategic alternatives to maximize shareholder value, including a potential sale or merger of the whole company. The company has identified two other modest noncore assets for divestiture, expected to be completed in late Q1 2026 or early Q2 2026. These actions aim to improve Atkore's financial profile and return to year-over-year growth in adjusted EBITDA in FY '27.

Valuation and Metrics

With a P/E Ratio of -130.44 and an EV/EBITDA of 18.51, the market is pricing in significant growth expectations. The company's Dividend Yield stands at 2.24%, indicating a relatively stable return for shareholders. The Net Debt / EBITDA ratio of 3.14 suggests that Atkore has a manageable debt burden. Analysts estimate next year's revenue growth at -0.4%, indicating a challenging environment.

Operational Highlights

The company has started shutting down three plants, with production expected to cease by the end of Q2, resulting in annualized cost reductions of $10 million to $12 million. Atkore sees a pathway to achieving 2027 goals without additional cost actions. The company remains focused on electrical conduit, which continues to grow double-digit, and is also seeing strong growth in PVC water products.

3. NewsRoom

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Johnson Fistel, PLLP Investigates Claims on Behalf of Long-Term Shareholders of Alto Neuroscience, Inc. (ANRO), Atkore Inc. (ATKR), Dow Inc. (DOW), and Fly-E Group, Inc. (FLYE)

Dec -01

Source: globenewswire.com

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Creative Planning Raises Holdings in Atkore Inc. $ATKR

Nov -29

Source: defenseworld.net

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Atkore Inc. (ATKR) Q4 2025 Earnings Call Transcript

Nov -20

Source: seekingalpha.com

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Atkore Inc. (ATKR) Q4 Earnings Miss Estimates

Nov -20

Source: zacks.com

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Atkore Inc. Announces Fourth Quarter 2025 Results

Nov -20

Source: businesswire.com

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Atkore Expands Scope of Strategic Alternatives Review to Maximize Shareholder Value

Nov -20

Source: businesswire.com

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Arnold Van Den Berg Exits Atkore Inc, Impacting Portfolio by -0.85%

Nov -14

Source: gurufocus.com

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ATKR Investors Have the Opportunity to Join Investigation of Atkore Inc. with the Schall Law Firm

Nov -05

Source: globenewswire.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (2.74%)

6. Segments

Electrical

Expected Growth: 2.5%

Atkore Inc.'s Electrical segment growth of 2.5% is driven by increasing demand for electrical infrastructure in construction and industrial markets, as well as growing adoption of electric vehicles and renewable energy sources. Additionally, the company's focus on product innovation and strategic acquisitions has enabled it to capitalize on emerging trends and expand its market share.

Safety & Infrastructure

Expected Growth: 3.5%

Atkore Inc.'s Safety & Infrastructure segment growth of 3.5% is driven by increasing demand for electrical infrastructure, government investments in transportation and energy projects, and rising adoption of safety protocols in industrial and commercial settings, further supported by the company's strategic acquisitions and product innovations.

7. Detailed Products

Electrical Conduit Systems

Atkore's electrical conduit systems provide a safe and reliable way to route and protect electrical conductors in commercial, industrial, and residential applications.

Electrical Fittings

Atkore's electrical fittings are designed to connect, terminate, and splice electrical conductors in a wide range of applications.

Cable Tray Systems

Atkore's cable tray systems provide a flexible and efficient way to manage and route cables in data centers, industrial facilities, and commercial buildings.

Fiber Optic Cable Systems

Atkore's fiber optic cable systems provide high-speed data transmission and connectivity solutions for telecommunications, data centers, and industrial applications.

Metal Framing

Atkore's metal framing products provide a structural framework for building construction, including walls, floors, and roofs.

All Thread Rods

Atkore's all thread rods are used in a variety of applications, including construction, industrial, and OEM manufacturing.

Concrete Inserts

Atkore's concrete inserts provide a secure and reliable way to anchor objects to concrete structures.

8. Atkore Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

Atkore Inc. operates in the electrical raceway products industry, which has a moderate threat of substitutes. While there are some alternative products available, they are not significantly cheaper or more effective, limiting the threat of substitutes.

Bargaining Power Of Customers

Atkore Inc.'s customers are primarily electrical contractors and distributors, who have limited bargaining power due to the company's strong brand recognition and wide distribution network.

Bargaining Power Of Suppliers

Atkore Inc. relies on a diverse supplier base for raw materials, which reduces the bargaining power of individual suppliers. However, the company is still somewhat dependent on these suppliers, which limits its negotiating power.

Threat Of New Entrants

The electrical raceway products industry has significant barriers to entry, including high capital requirements and the need for specialized manufacturing expertise, which limits the threat of new entrants.

Intensity Of Rivalry

The electrical raceway products industry is highly competitive, with several established players competing for market share. Atkore Inc. faces intense rivalry from companies such as Hubbell Incorporated and Legrand.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 37.59%
Debt Cost 4.91%
Equity Weight 62.41%
Equity Cost 14.88%
WACC 11.13%
Leverage 60.24%

11. Quality Control: Atkore Inc. passed 8 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
EnerSys

A-Score: 5.2/10

Value: 4.4

Growth: 6.2

Quality: 5.7

Yield: 2.0

Momentum: 6.5

Volatility: 6.3

1-Year Total Return ->

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Acuity Brands

A-Score: 5.2/10

Value: 2.8

Growth: 6.8

Quality: 7.0

Yield: 0.0

Momentum: 7.0

Volatility: 7.3

1-Year Total Return ->

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Hubbell

A-Score: 5.1/10

Value: 2.0

Growth: 6.8

Quality: 7.2

Yield: 3.0

Momentum: 4.0

Volatility: 7.7

1-Year Total Return ->

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Stock-Card
Atkore

A-Score: 4.6/10

Value: 6.1

Growth: 8.0

Quality: 4.8

Yield: 2.0

Momentum: 2.5

Volatility: 4.0

1-Year Total Return ->

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Hayward Holdings

A-Score: 4.3/10

Value: 3.6

Growth: 3.2

Quality: 7.4

Yield: 0.0

Momentum: 5.0

Volatility: 6.3

1-Year Total Return ->

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Advanced Energy Industries

A-Score: 4.1/10

Value: 0.6

Growth: 4.9

Quality: 5.3

Yield: 0.0

Momentum: 9.0

Volatility: 5.0

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

64.17$

Current Price

64.17$

Potential

-0.00%

Expected Cash-Flows