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AtlasClear Holdings, Inc. (ATCH)

AMEX / Technology / Software - Infrastructure

Share price

0.18 USD Market dataClose of Oct 15, 2026

Market capitalisation

26.9M USD Market dataClose of Oct 15, 2026
Market data
Oct 15, 2026
Filed accounts
FY2026, filed Sep 24, 2026
Ratios computed
Oct 15, 2026
Filed years
4, FY2022 to FY2026
Four kinds of sourceSEC filingCompany statementMarket dataComputedWhat each means
SEC filingFiled with the SEC
Read from a statement the company filed with the SEC, with the form, fiscal year, filing date and accession beside it.
Company statementCompany statement
What the company says about itself in a filing: an 8-K item, the auditor, its own segment names.
Market dataMarket data
Prices, market value and what analysts publish, with the date they are as of.
ComputedComputed by ValueScreener
Worked out by us from the other three, with the inputs and the formula one press away. A score is a research output, not a rating or a recommendation.
Reading

1 of 10

Overview

What the business is, what it costs, and how it reads on four questions.

Market dataSEC filingComputed

Four questions, at a glance

Quality

Return on equity

9.3% Computed

From the FY2026 filing

Read quality

Valuation

Price to earnings

8.86x Computed

FY2026 accounts, priced at the latest close

Read valuation

Cash generation

Free cash flow yield

n/a Computed

FY2026 accounts, priced at the latest close

Why n/a

We do not hold this figure for this company, so there is nothing to show.

Read cash generation

Revenue and net income, by fiscal year

FY2020 Net income: -21.7K USDFY2021 Revenue: 13.3M USDFY2021 Net income: 1.5M USDFY2022 Net income: 11.0M USDFY2023 Net income: 795.0K USDFY2025 Revenue: 10.9M USDFY2025 Net income: 5.8M USDFY2026 Revenue: 20.1M USDFY2026 Net income: 2.0M USD
Revenue Net income6 fiscal years; a year whose statement names no SEC filing is market data, and the table in Filings says which.
Named tests met
2 of 30 Which tests
The business, and the score behind its five axes

The reading, in brief

Is it cheap

Price to earnings is 8.86x at the close of 2026-10-15 on FY2026 figures; the lines are 15.00x (Graham's defensive ceiling) and, by market convention, 10.00x, 25.00x and 40.00x, and this sits below the lowest.

Today, against the Software - Infrastructure industry (73 companies), 8.86x sits at the 13th percentile; the middle half of that group runs from 13.18x to 54.61x.

Is it good

Return on equity was 9.3% in FY2026, in the band labelled "Ordinary" (8.0% to 15.0%), on lines anchored on Damodaran's cost-of-capital data.

Today, against the Software - Infrastructure industry (114 companies), 9.3% sits at the 63rd percentile; the middle half of that group runs from -25.7% to 16.2%.

Is it safe

Debt to equity was 0.71 in FY2026, in the band labelled "Within Graham's industrial limit" (0.50 to 1.00), on lines anchored on Graham's defensive-investor criteria.

Today, against the Software - Infrastructure industry (58 companies), 0.71 sits at the 58th percentile; the middle half of that group runs from 0.17 to 1.26.

The direction
Which way AtlasClear Holdings, Inc.'s current ratio has moved, and how steadily. (FY2020 to FY2026, 5 filed years of AtlasClear Holdings, Inc.)
What could explain it
What in AtlasClear Holdings, Inc.'s filed statements could explain the movements. (3 readings drawn from the statement lines AtlasClear Holdings, Inc. filed)
What to check next
What to check next on AtlasClear Holdings, Inc., and where in its filings. (2 questions for AtlasClear Holdings, Inc.)
In one paragraph
One paragraph on AtlasClear Holdings, Inc.'s returns, cash, balance sheet and price. (6 of sixteen figures read for AtlasClear Holdings, Inc.)

These are ATCH’s filed figures. The research desk says what they mean, against peers and its own years, with what to check next.

Research ATCHPart of Serious. New accounts start with 30 days of Professional, free, no card.

2 of 10

What changed

The newest filing, what it moved, and when the next one is due.

SEC filingCompany statement

The newest accounts on file are the FY2026 annual report: 10-K, filed Sep 24, 2026, accession 0001493152-26-044008.

3 of 10

Quality

The returns the business earns on its capital, and the margins behind them.

SEC filingComputed

AtlasClear Holdings, Inc: returns on capital and margins, each with its source
FigureValue, source and document
Return on invested capital, after tax
Why n/a

The filed income tax is outside 0 to 100% of pre-tax income (a tax benefit on a profit, a charge on a loss, or a charge above the profit), which is a one-off in the tax line and not a rate operating profit was taxed at, so after-tax operating profit is not computed.

n/a ComputedFY2026 10-K, filed Sep 24, 2026, 0001493152-26-044008
Return on equity9.3% ComputedFY2026 10-K, filed Sep 24, 2026, 0001493152-26-044008
Return on capital employed, pre-tax-23.7% ComputedFY2026 10-K, filed Sep 24, 2026, 0001493152-26-044008
Return on assets2.8% ComputedFY2026 10-K, filed Sep 24, 2026, 0001493152-26-044008
Gross margin
Why n/a

Our archived statements for this filer carry no gross profit line, so there is nothing to compute a gross margin from and trace back to source. That may be because the filer presents no cost of revenue, or because we have not captured the concept. We do not guess which.

n/a ComputedFY2026 10-K, filed Sep 24, 2026, 0001493152-26-044008
Operating margin-48.7% ComputedFY2026 10-K, filed Sep 24, 2026, 0001493152-26-044008
Net margin9.8% ComputedFY2026 10-K, filed Sep 24, 2026, 0001493152-26-044008
ATCH 9.8%
HPAI 5.3%STEM 88.2%ALAR 2.4%MLGO 30.2%JG 0.1%
0.1%88.2%
Net margin: ATCH against the 5 companies named under Valuation context, each as filed for its own latest year. Placement only: no average is drawn.

4 of 10

Financial strength

What it owes against what it owns, and whether it can meet what falls due.

SEC filingComputedCompany statement

AtlasClear Holdings, Inc: leverage, liquidity and distress, each with its source
FigureValue, source and document
Debt to equity0.71 ComputedFY2026 10-K, filed Sep 24, 2026, 0001493152-26-044008
Current ratio1.50 ComputedFY2026 10-K, filed Sep 24, 2026, 0001493152-26-044008
Quick ratio1.50 ComputedFY2026 10-K, filed Sep 24, 2026, 0001493152-26-044008
Interest coverage
Why n/m

Operating income is zero or below, so there is no operating profit to cover the interest bill and coverage is not meaningful (n/m).

n/m ComputedFY2026 10-K, filed Sep 24, 2026, 0001493152-26-044008
Altman Z-score
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedClose of Oct 15, 2026 · FY2026 10-K, filed Sep 24, 2026, 0001493152-26-044008
Net debt-402.3K ComputedFY2026 10-K, filed Sep 24, 2026, 0001493152-26-044008
Total assets 71.2MTotal liabilities 50.1MShareholders' equity 21.1MOwnsOwes, and equity
Total assets Total liabilities Shareholders’ equity
The balance sheet, line by line

Financial health

What AtlasClear Holdings, Inc owned and owed at the end of fiscal 2026, from the balance sheet it filed (10-K, filed Sep 24, 2026, 0001493152-26-044008).

AtlasClear Holdings, Inc: balance sheet position
Total assets71.2M FiledFY2026 10-K, filed Sep 24, 2026
Total liabilities50.1M FiledFY2026 10-K, filed Sep 24, 2026
Shareholders' equity21.1M FiledFY2026 10-K, filed Sep 24, 2026
Cash15.4M FiledFY2026 10-K, filed Sep 24, 2026
Total debt15.0M FiledFY2026 10-K, filed Sep 24, 2026
Net debt-402.3K
Current ratio1.50
Debt to equity0.71
  • Interest cover: FY2026: Operating income is zero or below, so there is no operating profit to cover the interest bill and coverage is not meaningful (n/m).

Read from the filed balance sheet for each year, with the income statement of the same year supplying operating profit where a ratio needs it. Nothing here is a view on whether this company is sound.

5 of 10

Valuation context

What the market charges for it, against its own record and companies like it.

Market dataSEC filingComputed

AtlasClear Holdings, Inc: what the market charges, each with its source
FigureValue, source and document
Price to earnings8.86x ComputedClose of Oct 15, 2026 · FY2026 10-K, filed Sep 24, 2026, 0001493152-26-044008
P/E on trailing twelve months8.33x ComputedClose of Oct 15, 2026 · Trailing four quarters, each as known on the day; the quarterly filings are listed under Filings
Price to book1.05x ComputedClose of Oct 15, 2026 · FY2026 10-K, filed Sep 24, 2026, 0001493152-26-044008
Price to sales1.10x ComputedClose of Oct 15, 2026 · FY2026 10-K, filed Sep 24, 2026, 0001493152-26-044008
Enterprise value to EBIT
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedClose of Oct 15, 2026 · FY2026 10-K, filed Sep 24, 2026, 0001493152-26-044008
Enterprise value to EBITDA
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedClose of Oct 15, 2026 · FY2026 10-K, filed Sep 24, 2026, 0001493152-26-044008
Price to earnings over growth
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedClose of Oct 15, 2026 · FY2026 10-K, filed Sep 24, 2026, 0001493152-26-044008
Diluted earnings per share0.02 USD FiledFY2026 10-K, filed Sep 24, 2026, 0001493152-26-044008
Graham number0.28 USD ComputedFY2026 10-K, filed Sep 24, 2026, 0001493152-26-044008

We publish no fair value or price target of our own. Value ATCH on your own assumptions in the DCF workbench, starting from the filed figures.

Its own record, and companies like it

Valuation

What the market charges for AtlasClear Holdings, Inc today, and the multiples it has carried. No value of ours: the figures are the filings’ and the market’s.

AtlasClear Holdings, Inc: valuation
Share price0.18 USD
Market capitalisation26.9M USD
Enterprise value to EBITDAn/a
Graham number0.28 USD
Diluted earnings per share, FY20260.02 USD

Price to earnings on trailing twelve months, a different basis from the fiscal-year P/E above, since Sep 30, 2025: low 0.03x, median 0.06x, high 10.05x, latest 8.33x. 261 trading days with a meaningful ratio. Each close over the trailing twelve months of earnings as known that day: a quarter counts from the day it was filed.

Companies like AtlasClear Holdings, Inc

  1. Helport AI Limited (HPAI)Market cap 11.7M USD
  2. Stem, Inc. (STEM)Market cap 35.6M USD
  3. Alarum Technologies Ltd. (ALAR)Market cap 11.2M USD
  4. MicroAlgo Inc. (MLGO)Market cap 30.4M USD
  5. Aurora Mobile Limited (JG)Market cap 47.3M USD

Same industry (Software - Infrastructure) and size band (Nano, under 50M), nearest in market value, net margin and current ratio. Each of those counts equally, by how many of the companies considered sit between the two on it. Closest first: the order is likeness and nothing else.

6 of 10

Cash generation

Whether profit arrives as cash, and what is paid back to shareholders.

Computed

AtlasClear Holdings, Inc: cash generation and what is paid out, each with its source
FigureValue, source and document
Free cash flow yield
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedClose of Oct 15, 2026 · FY2026 10-K, filed Sep 24, 2026, 0001493152-26-044008
Free cash flow
Why n/a

The FY2026 filing carries no free cash flow we could read.

n/a ComputedFY2026 10-K, filed Sep 24, 2026, 0001493152-26-044008
Free cash flow margin
Why n/a

No free cash flow, and no operating cash flow and capital expenditure pair, is filed for this year.

n/a ComputedFY2026 10-K, filed Sep 24, 2026, 0001493152-26-044008
Dividend yield
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedClose of Oct 15, 2026 · FY2026 10-K, filed Sep 24, 2026, 0001493152-26-044008
Payout ratio
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedFY2026 10-K, filed Sep 24, 2026, 0001493152-26-044008
FY2020 Free cash flow: -25.3K USDFY2020 Net income: -21.7K USDFY2021 Free cash flow: -1.1M USDFY2021 Net income: 1.5M USDFY2022 Net income: 11.0M USDFY2023 Net income: 795.0K USDFY2025 Net income: 5.8M USDFY2026 Net income: 2.0M USD
Free cash flow Net incomeProfit that arrives as cash stands level with net income; a gap year after year is worth reading about.

7 of 10

Filings

Every figure, the year it is for and the document it was read from.

SEC filingMarket data

The filed figures

Computed from the accounts this company filed with the SEC and, in a ratio with a price in it, the last close, dated on this page. Every filed figure below carries the fiscal year and the filing date its accounts were read from, and every blank carries the reason it is blank. Nothing here is a view on this company.

AtlasClear Holdings, Inc.: the eight ratios, with the fiscal year and filing date behind each.
FigureValueYearAs of
8.86xFY2026Oct 15, 2026
1.05xFY2026Oct 15, 2026
n/aFY2026Oct 15, 2026
n/a Operating profit is zero or negative, so there is no profit for a buyer's price to be a multiple of.
n/aFY2026Oct 15, 2026
n/a The filed cash flow statement reports neither free cash flow nor the operating cash flow and capital spending it is built from.
n/aFY2026Sep 24, 2026
n/a The filed income tax is outside 0 to 100% of pre-tax income (a tax benefit on a profit, a charge on a loss, or a charge above the profit), which is a one-off in the tax line and not a rate operating profit was taxed at, so after-tax operating profit is not computed.
n/aFY2026Oct 15, 2026
n/a The filed cash flow statement reports no dividend paid at all. That is not the same as a filed zero, and we will not read it as one.
0.71FY2026Sep 24, 2026
1.50FY2026Sep 24, 2026
1.10xFY2026Oct 15, 2026
n/aFY2026Oct 15, 2026
n/a This figure compares a year against the one before it, and we hold one filed year for this company.
n/aFY2026Oct 15, 2026
n/a We hold no figure here and no stored reason for its absence. The gap is ours, not the company's.
-0.81FY2026Sep 24, 2026
4/9FY2026Sep 24, 2026

The figures are computed from the accounts for fiscal 2026, the newest full year on file. 4 filed fiscal years on record, FY2022 to FY2026, from SEC EDGAR. Prices as of Oct 15, 2026. Ratios recomputed Oct 15, 2026. Two facts, because a recompute is not a fresh quote.

The year and the filing date name the statement each figure’s accounts are read from, and they stand even where the figure itself could not be computed: the line beneath a blank says what that statement did not carry. A figure’s name opens its formula and the filings behind it; a statement that names no SEC filing has no filing date, and reads n/a.

Ten years of filed figures, year by year

Ten years of filed figures

6 fiscal years, FY2020 to FY2026. 4 read from the annual reports AtlasClear Holdings, Inc filed with the SEC, each naming its filing; the rest from statements that name none, which are market data. Amounts in USD, as reported.

AtlasClear Holdings, Inc: revenue, earnings, free cash flow and returns, by fiscal year, with the filing each year was read from
YearRevenueOperating incomeNet incomeEPS, dilutedFree cash flowOperating marginReturn on equityFiling
FY202620.1M-9.8M2.0M0.02n/a-48.7%9.3%10-K, Sep 24, 20260001493152-26-044008
FY202510.9M-4.9M5.8M0.96n/a-45.3%n/m10-K/A, Sep 30, 20250001104659-25-094655
FY2023n/a-2.7M795.0Kn/an/an/an/m10-K, Apr 16, 20240001410578-24-000492
FY2022n/a-3.0M11.0Mn/an/an/an/m10-K, Apr 16, 20240001410578-24-000492
FY202113.3M1.0M1.5Mn/a-1.1M7.7%15.0%Market data, supplied Oct 15, 2026accession n/a
FY2020n/a-21.7K-21.7Kn/a-25.3Kn/a-110.7%Market data, supplied Oct 15, 2026accession n/a
  • Revenue, compound annual growth FY2021 to FY2026: 8.5%
  • Earnings: Earnings was not positive in both 2020 and 2026, so a compound rate across the window is not defined. Both figures are in the table.
  • Earnings per share, compound annual growth FY2025 to FY2026: -97.9%
  • Free cash flow: Free cash flow was not positive in both 2020 and 2021, so a compound rate across the window is not defined. Both figures are in the table.

Every figure in this section is a line of a filed annual statement or a ratio of two of them. Nothing here is estimated or smoothed. Earnings per share filed before a share split are put on today's share count, and say so. Nothing here is a verdict on the company.

8 of 10

Risks and guardrails

The accounting screens, the published tests, and the lines you can set to be told.

ComputedCompany statement

AtlasClear Holdings, Inc: accounting screens and published tests, each with its source
FigureValue, source and document
Beneish M-score-0.81 ComputedFY2026 10-K, filed Sep 24, 2026, 0001493152-26-044008
Piotroski F-score4/9 ComputedFY2026 10-K, filed Sep 24, 2026, 0001493152-26-044008
Named tests met2 of 30 Computed
Beta3.14 ComputedClose of Oct 15, 2026

The named tests

Of 30 tests value investors published: 2 met, 20 not met, 8 we could not complete. Counts, never a score: a single figure would have to decide that meeting one investor’s criteria and meeting another’s are worth the same.

Which tests, by name(all 30)
Meets
P/E times P/B (Benjamin Graham); Cheapest quarter on P/E (David Dreman)
Does not
Defensive investor (Benjamin Graham); Deep value; Large cap, low P/E; High F-score, low P/B (Joseph Piotroski); Three forensic scores; Low PEG, low debt (Peter Lynch); High returns and growth; Gross margin, turnover (Robert Novy-Marx); Dividends and buybacks; Low beta, profitable; Near the 52-week low; Z-score and coverage (Edward Altman); High returns, low debt; Owner earnings yield; High return on tangibles; Low P/S, rising earnings (James O'Shaughnessy); Book or below, low debt (Walter Schloss); Tangible book or below; Clean books, high ROIC; Cheapest quarter on P/B (David Dreman)
Not measured
Earnings yield and ROIC (Joel Greenblatt); EV/EBITDA and coverage; High yield, low payout; ROIC at or above WACC; Two thirds of NCAV (Benjamin Graham); Cash-covered dividend; Cash-flow yield and ROIC; Low P/E, growth, yield (John Neff). A test with a figure we could not read is incomplete, never met and never failed.
Figures we could not read(18)
  • Positive Earnings Streak: We hold 2 profitable filed years in a row; the test needs 10.
  • EV/EBIT: We do not hold this figure for this company, so there is nothing to show.
  • Return on Invested Capital: The filed income tax is outside 0 to 100% of pre-tax income (a tax benefit on a profit, a charge on a loss, or a charge above the profit), which is a one-off in the tax line and not a rate operating profit was taxed at, so after-tax operating profit is not computed.
  • Altman Z-Score: We do not hold this figure for this company, so there is nothing to show.
  • PEG Ratio: We do not hold this figure for this company, so there is nothing to show.
  • Eps Growth 5Y: We do not hold this figure for this company, so there is nothing to show.
  • Rev Growth 5Y: We do not hold this figure for this company, so there is nothing to show.
  • Gross Margin: Our archived statements for this filer carry no gross profit line, so there is nothing to compute a gross margin from and trace back to source. That may be because the filer presents no cost of revenue, or because we have not captured the concept. We do not guess which.
  • EV/EBITDA: We do not hold this figure for this company, so there is nothing to show.
  • Interest Coverage: Operating income is zero or below, so there is no operating profit to cover the interest bill and coverage is not meaningful (n/m).
  • Dividend Yield: We do not hold this figure for this company, so there is nothing to show.
  • Payout Ratio: We do not hold this figure for this company, so there is nothing to show.
  • Free Cash Flow Yield: We do not hold this figure for this company, so there is nothing to show.
  • ROIC-WACC Spread: We do not hold this figure for this company, so there is nothing to show.
  • Price To Ncav: We do not hold this figure for this company, so there is nothing to show.
  • Capex To Ocf: We do not hold this figure for this company, so there is nothing to show.
  • Dividend Coverage Ratio: We do not hold this figure for this company, so there is nothing to show.
  • Dividend Streak: We do not hold this figure for this company, so there is nothing to show.

9 of 10

Declared positions

Whether anybody here owns this company.

Positions declared by the founder: no holding in any company shown here, as of October 3, 2026.

10 of 10

Next step

What to do with what you have read.

A thesis is your reason for owning it, in your words, with the figures that must stay true. Checking those figures every night against the newest filed accounts, and telling you once when one breaks, is what the subscription adds.

More on this company

What this cannot tell you

  • 18 figures could not be read on this company, among them Positive Earnings Streak, EV/EBIT, Return on Invested Capital. Each blank in the table above names the rest, with its reason. 8 named tests come back incomplete because of them, which is neither met nor missed.
  • We hold 4 filed fiscal years rather than 10, so the run above is shorter than a full decade and is counted as what it is.

And the one that is true of all of it: This is what the numbers say today. It cannot tell you the day one of them stops being true. Nothing here can, because the reasons are not written down.

Running this once is arithmetic on public documents and you are welcome to it. Writing down why you own each company, in your own words and with the numbers that have to stay true for it to hold, and then having those numbers re-checked every night against the newest filed accounts, and against the latest close where a rule watches a price, is Professional, the plan a new account starts on for 30 days, one trial per person. It writes to you the day one breaks, and stays quiet when nothing does. The check runs every night at 23:30 UTC. A filing is picked up the night after it is published.

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ValueScreener · valuescreener.ai · Computed from accounts filed with the SEC by this company, read from EDGAR, and from dated closing prices. On this page a filed figure opens into its formula, its inputs and the statement, fiscal year and filing date it was read from, and a price into the day of its close. A figure that cannot show that trail says so.

A computation on accounts filed with the SEC, not a recommendation and not advice. Past filings do not indicate future results. Risk disclaimer.

Margin Notes

Once a week, what changed in the filings of US-listed companies, why it can matter to a thesis, and what deserves a closer review. Grounded in filings, not market noise.

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