AMC Entertainment (AMC)
NYSE:AMC
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AMC Entertainment
(NYSE:AMC)
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Rating:45Neutral
Price Target:
$1.50
▲(11.11% Upside)
Action:ReiteratedDate:04/02/26
The score is held down primarily by weak financial performance (ongoing losses, negative operating/free cash flow, negative equity and high leverage) and bearish technical signals (price below key moving averages with negative MACD). Offsetting this somewhat are a more optimistic earnings outlook and active refinancing initiatives, but valuation support is limited given the negative P/E and lack of dividend.
Positive Factors
US market leadership and scale
Sizable share of U.S. box office and scale versus peers provide durable competitive advantages: stronger negotiating power with studios and advertisers, higher systemwide bargaining leverage for premium formats and supplier terms, and resilience from a large, diversified attendance base that supports steady revenue streams over time.
Negative Factors
Very high leverage and negative equity
Persistent negative equity and multi-billion dollar debt limit strategic optionality and increase refinancing and covenant risk. Heavy leverage reduces resilience to cyclical downturns, constrains capital allocation, and raises the likelihood of dilutive or costly financing until material deleveraging is completed and liquidity buffers are rebuilt.
Read all positive and negative factors
Positive Factors
Negative Factors
US market leadership and scale
Sizable share of U.S. box office and scale versus peers provide durable competitive advantages: stronger negotiating power with studios and advertisers, higher systemwide bargaining leverage for premium formats and supplier terms, and resilience from a large, diversified attendance base that supports steady revenue streams over time.
Read all positive factors
AMC Entertainment (AMC) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$786.78M
Dividend YieldN/A
Average Volume (3M)27.80M
Price to Earnings (P/E)―
Beta (1Y)1.17
Revenue Growth9.74%
EPS Growth12.29%
CountryUS
Employees2,915
SectorCommunication Services
Sector Strength97
IndustryEntertainment
Share Statistics
EPS (TTM)-0.25
Shares Outstanding582,797,240
10 Day Avg. Volume29,758,773
30 Day Avg. Volume27,797,118
Financial Highlights & Ratios
PEG Ratio-0.08
Price to Book (P/B)-0.42
Price to Sales (P/S)0.17
P/FCF Ratio-2.19
Enterprise Value/Market Cap10.80
Enterprise Value/Revenue1.75
Enterprise Value/Gross Profit2.34
Enterprise Value/Ebitda18.52
Forecast
1Y Price Target
$1.78Price Target Upside31.48% Upside
Rating ConsensusHold
Number of Analyst Covering5
EPS Forecast (FY)-0.43
Revenue Forecast (FY)$5.31B
AMC Entertainment Business Overview & Revenue Model
Company Description
AMC Entertainment Holdings, Inc., through its subsidiaries, engages in the theatrical exhibition business. The company owns, operates, or has interests in theatres in the United States and Europe. As of March 1, 2022, it operated approximately 950...
How the Company Makes Money
AMC primarily generates revenue from (1) admission (ticket) sales and (2) food and beverage sales at its theaters. Ticket revenue is driven by attendance and ticket pricing, including higher-priced premium experiences (e.g., large-format screens, ...
AMC Entertainment Key Performance Indicators (KPIs)
Any
Revenue by Geography
Shows where AMC earns its money globally, highlighting regions with strong box office sales and areas that might need strategic focus or improvement.
Shows where AMC earns its money globally, highlighting regions with strong box office sales and areas that might need strategic focus or improvement.
Data provided by:
The Fly
The FlyAMC Entertainment Earnings Call Summary
Earnings Call Date:Feb 24, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 13, 2026
Earnings Call Sentiment Positive
The call presented a preponderance of operational and financial positives: revenue and adjusted EBITDA growth, record per-patron metrics, meaningful market share and loyalty traction, targeted balance sheet actions and constructive early signs for 2026 (strong film slate, January box office strength, expanding premium formats). The company still faces notable challenges—attendance softness (especially internationally), a full-year free cash flow deficit driven by seasonality, ongoing portfolio rationalization, and material debt/refinancing needs—but management articulated clear strategies to address these risks and highlighted operating leverage that could amplify improvements if box office recovers. On balance, highlights outweigh the lowlights and the tone was optimistic and constructive.Positive Updates
Fourth Quarter Financials
Q4 2025 total revenue of approximately $1.29 billion, adjusted EBITDA of $134 million, and $127 million of cash from operating activities despite a softer industry quarter.
Negative Updates
Industry Recovery Slower Than Expected
Management noted the industry recovery progressed more slowly than anticipated; North American box office declined ~4.4% in Q4 2025 and full-year global attendance was down 2.1% versus 2024, increasing reliance on non-box-office levers to drive profitability.
Read all updates
Q4-2025 Updates
Positive
Negative
Fourth Quarter Financials
Q4 2025 total revenue of approximately $1.29 billion, adjusted EBITDA of $134 million, and $127 million of cash from operating activities despite a softer industry quarter.
Read all positive updates
Company Guidance
The management guidance emphasized a strong 2026 recovery driven by a richer film slate and pronounced operating leverage (roughly two‑thirds of each incremental revenue dollar flowing to adjusted EBITDA), with AMC expecting North American box office in 2026 to be approximately $500 million to more than $1 billion higher than 2025 (January was already +16% YoY and Europe is recovering faster), which they expect to materially lift adjusted EBITDA from 2025’s ~$388 million; other key metrics and targets cited include 2026 CapEx net of lease incentives of $175–$225 million (same as 2025’s $200 million midpoint), ending 2025 cash of $428 million, 2025 full‑year results of >$4.8 billion revenue and ~219 million guests, Q4 2025 revenue of ~$1.29 billion with $134 million adjusted EBITDA and $127 million cash from operations, 2025 per‑patron records (admissions $12.09, F&B $7.62, total $22.10, contribution margin $14.80), net theater changes (closed 21, opened 3 in 2025; net -148 since 2020), reduced total debt ~ $1.8 billion since 2020, recent capital markets actions including >$240 million cash from new debt and $183–$337 million of equitization in July 2025, a launched refinancing targeting ~$2.4 billion to push maturities toward 2031, an ATM equity offering with $26.2 million gross to date, and the expectation that continued revenue growth in 2026 (and a strong 2027) should drive improving free cash flow (2025 FCF was a $366 million use for the year but +$51 million over the last 9 months).AMC Entertainment Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
12
Very Negative
Cash Flow
16
Very Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 4.85B | 4.64B | 4.81B | 3.91B | 2.53B |
| Gross Profit | 3.63B | 3.09B | 3.21B | 2.63B | 1.78B |
| EBITDA | -96.30M | 412.70M | 383.00M | -196.40M | -396.90M |
| Net Income | -632.40M | -352.60M | -396.60M | -973.60M | -1.27B |
Balance Sheet | |||||
| Total Assets | 8.02B | 8.25B | 9.01B | 9.14B | 10.82B |
| Cash, Cash Equivalents and Short-Term Investments | 428.50M | 632.30M | 884.30M | 631.50M | 1.59B |
| Total Debt | 8.14B | 8.28B | 9.14B | 10.02B | 10.75B |
| Total Liabilities | 9.91B | 10.01B | 10.86B | 11.76B | 12.61B |
| Stockholders Equity | -1.89B | -1.76B | -1.85B | -2.62B | -1.79B |
Cash Flow | |||||
| Free Cash Flow | -365.90M | -296.30M | -444.80M | -848.30M | -714.70M |
| Operating Cash Flow | -119.80M | -50.80M | -215.20M | -628.50M | -614.10M |
| Investing Cash Flow | -221.60M | -242.90M | -180.10M | -224.00M | -68.20M |
| Financing Cash Flow | 125.20M | 68.40M | 649.30M | -91.30M | 1.99B |
AMC Entertainment Technical Analysis
Neutral
1.35
Price Trends
1.18
Positive
1.53
Negative
2.21
Negative
Market Momentum
0.04
Negative
70.58
Negative
85.91
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AMC, the sentiment is Neutral. The current price of 1.35 is above the 20-day moving average (MA) of 1.09, above the 50-day MA of 1.18, and below the 200-day MA of 2.21, indicating a neutral trend. The MACD of 0.04 indicates Negative momentum. The RSI at 70.58 is Negative, neither overbought nor oversold. The STOCH value of 85.91 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for AMC.
AMC Entertainment Risk Analysis
AMC Entertainment disclosed 30 risk factors in its most recent earnings report. AMC Entertainment reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
AMC Entertainment Peers Comparison
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | $2.04B | 56.84 | 10.67% | ― | 9.30% | 67.19% | |
65 Neutral | $2.86B | 6.89 | -618.85% | ― | 0.68% | -80.73% | |
61 Neutral | $3.51B | 19.44 | 25.84% | 1.45% | 9.70% | -31.62% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
60 Neutral | $572.38M | 20.03 | 2.82% | 1.97% | 6.28% | ― | |
49 Neutral | $447.44M | -13.83 | -36.41% | ― | -4.07% | -100.72% | |
45 Neutral | $786.78M | -1.27 | 35.45% | ― | 9.74% | 12.29% |
* Communication Services Sector Average
AMC
AMC Entertainment
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AMC Entertainment Corporate Events
Business Operations and StrategyPrivate Placements and Financing
AMC Extends Commitment for $425 Million Refinancing Facility
Positive
Apr 1, 2026
On March 6, 2026, AMC Entertainment and its wholly owned subsidiary Odeon Finco PLC entered into a commitment letter with Deutsche Bank AG New York Branch for a new senior secured credit facility of up to $425 million to refinance Odeon’s 12...
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
AMC Entertainment Adjusts Capital Structure With Consent Shares
Neutral
Mar 24, 2026
On March 23, 2026, AMC Entertainment Holdings, Inc. issued 15,378,194 shares of Class A common stock as consent fees to certain selling stockholders in connection with amendments to indentures governing Muvico, LLC’s 6.00%/8.00% Cash/PIK Tog...
Regulatory Filings and Compliance
AMC registers secondary resale of Class A shares
Neutral
Mar 16, 2026
On March 16, 2026, AMC Entertainment filed a prospectus supplement to an existing shelf registration statement to register the potential resale of up to 17,739,549 shares of its Class A common stock by certain selling stockholders. The transaction...
Business Operations and StrategyPrivate Placements and Financing
AMC Entertainment Announces New Odeon Refinancing Credit Facility
Positive
Mar 6, 2026
On March 6, 2026, AMC Entertainment and its wholly owned unit Odeon Finco PLC entered into a commitment letter with Deutsche Bank for a new senior secured credit facility of up to $425 million to refinance Odeon’s 12.75% senior secured notes...
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
AMC Revises Odeon-Linked Collateral Terms for 2029 Notes
Neutral
Feb 25, 2026
On February 24, 2026, AMC Entertainment, its subsidiary Muvico and certain holders of Muvico’s Senior Secured Notes due 2029 agreed to amend the indenture governing those notes, changing how new collateral from the Odeon Group will secure th...
Business Operations and StrategyPrivate Placements and Financing
AMC Launches Major Debt Refinancing and Note Offering
Positive
Feb 23, 2026
On February 23, 2026, AMC Entertainment said its indirect subsidiary Muvico, LLC had launched a private offering of $1.73 billion in first lien notes due 2031, to be guaranteed by AMC and certain subsidiaries alongside a planned $750 million term ...
Business Operations and StrategyPrivate Placements and Financing
AMC Entertainment Advances Debt Restructuring With Indenture Amendments
Positive
Feb 13, 2026
On January 29, 2026, AMC Entertainment and its subsidiary Muvico agreed with certain holders of Muvico’s Senior Secured Notes due 2029 to amend the governing indenture, aiming to give AMC greater flexibility in managing its capital structure...
Business Operations and StrategyPrivate Placements and Financing
AMC Entertainment Launches New Equity and Forward Program
Positive
Feb 9, 2026
On February 9, 2026, AMC Entertainment entered into a sales and registration agreement allowing it to issue and sell up to $150 million of Class A common stock through Goldman Sachs, B. Riley Securities and Yorkville Securities as sales agents, in...
Business Operations and StrategyFinancial DisclosuresPrivate Placements and Financing
AMC Entertainment amends debt, issues equity-based consent
Positive
Jan 29, 2026
On January 29, 2026, AMC Entertainment Holdings and its subsidiary Muvico reached an agreement with holders of Muvico’s senior secured notes due 2029 to amend the notes’ indenture, giving AMC greater flexibility to refinance its existi...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.