AMC Networks Inc (AMCX)
NASDAQ:AMCX
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AMC Networks
(NASDAQ:AMCX)
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Rating:65Neutral
Price Target:
$10.00
▲(14.03% Upside)
Action:Reiterated
Date:06/04/26
The score is driven primarily by solid cash generation and improved profitability, but tempered by persistent revenue decline and near-term margin pressure highlighted on the earnings call. Valuation is supportive with a low P/E, while technicals show an uptrend but with overextended momentum that raises pullback risk.
Positive Factors
Free Cash Flow Strength
Consistent positive operating and free cash flow provides durable internal funding for content investment, debt reduction and shareholder returns. Even with uneven year-to-year cash flow, FCF closely tracks net income, supporting sustainable operations and giving management flexibility over the next 2–6 months.
Negative Factors
Persistent Revenue Decline
A shrinking top line limits margin leverage and the durability of profit improvements. Continued revenue erosion from legacy distribution channels compresses long-term operating leverage and raises execution risk: growth in streaming must outpace linear declines to sustain margins and cash flow.
Read all positive and negative factors
Positive Factors
Negative Factors
Free Cash Flow Strength
Consistent positive operating and free cash flow provides durable internal funding for content investment, debt reduction and shareholder returns. Even with uneven year-to-year cash flow, FCF closely tracks net income, supporting sustainable operations and giving management flexibility over the next 2–6 months.
Read all positive factors
AMC Networks Key Performance Indicators (KPIs)
AMC Networks (AMCX) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$428.30M
Dividend YieldN/A
Average Volume (3M)485.09K
Price to Earnings (P/E)8.1
Beta (1Y)1.04
Revenue Growth-3.42%
EPS GrowthN/A
CountryUS
Employees1,800
SectorCommunication Services
Sector Strength97
IndustryEntertainment
Share Statistics
EPS (TTM)1.16
Shares Outstanding32,443,302
10 Day Avg. Volume574,533
30 Day Avg. Volume485,092
Financial Highlights & Ratios
PEG Ratio-0.03
Price to Book (P/B)0.43
Price to Sales (P/S)0.18
P/FCF Ratio1.55
Enterprise Value/Market Cap4.01
Enterprise Value/Revenue0.75
Enterprise Value/Gross Profit1.57
Enterprise Value/Ebitda1.59
Forecast
1Y Price Target
$7.67Price Target Upside-12.58% Downside
Rating ConsensusModerate Sell
Number of Analyst Covering3
EPS Forecast (FY)1.84
Revenue Forecast (FY)$2.25B
AMC Networks Business Overview & Revenue Model
Company Description
AMC Networks Inc., an entertainment company, owns and operates a suite of video entertainment products that are delivered to audiences and a platform to distributors and advertisers in the United States and internationally. The company operates in...
How the Company Makes Money
AMC Networks primarily earns revenue by (1) licensing and distributing its networks and content to distributors and platforms, and (2) selling advertising tied to viewership of its linear networks and, where applicable, its streaming services. A m...
AMC Networks Earnings Call Summary
Earnings Call Date:May 08, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 31, 2026
Earnings Call Sentiment Neutral
The call presented a mixed but balanced picture: strong operational and strategic positives including double-digit streaming revenue growth, robust digital ad growth (+44% YoY), healthy free cash flow ($65M Q1, FCF guidance ≥ $200M), active engagement metrics, meaningful content/franchise monetization opportunities (notably The Walking Dead), and tangible capital structure improvements (retirement of 2029 notes, extended maturities, $428M cash and an ASR). Offsetting these positives were notable near-term profitability pressures — consolidated AOI down 34% to $69M, domestic AOI down 26%, a 16% decline in affiliate revenue, advertising rate pressure, and modest international revenue declines ex-FX. Management reiterated full-year revenue (~$2.25B), AOI (~$350M) and FCF guidance and outlined steps to address balance sheet and capital allocation. Overall the strengths and strategic actions largely balance the significant near-term profit headwinds.Positive Updates
Double-Digit Streaming Revenue Growth & Streaming Now Top Domestic Revenue Source
Streaming revenue grew 11% in the quarter and management stated streaming is now the #1 source of domestic revenue; streaming growth benefited from rate initiatives and is a primary growth driver for the business.
Negative Updates
Decline in Consolidated Revenue and Significant AOI Compression
Consolidated net revenue declined 2% year-over-year to $542 million, and consolidated adjusted operating income (AOI) declined 34% to $69 million, resulting in a 13% AOI margin for the quarter.
Read all updates
Q1-2026 Updates
Positive
Negative
Double-Digit Streaming Revenue Growth & Streaming Now Top Domestic Revenue Source
Streaming revenue grew 11% in the quarter and management stated streaming is now the #1 source of domestic revenue; streaming growth benefited from rate initiatives and is a primary growth driver for the business.
Read all positive updates
Company Guidance
AMC Global Media reiterated 2026 guidance calling for consolidated revenue of approximately $2.25 billion, consolidated adjusted operating income (AOI) of about $350 million and free cash flow of at least $200 million. In Q1 the company reported consolidated net revenue of $542 million (−2% year‑over‑year), consolidated AOI of $69 million (−34%, 13% margin) and free cash flow of $65 million; domestic revenue was $471 million (−3%) with domestic AOI $92 million (−26%), streaming revenue +11% while subscription revenue was down 3% and affiliate revenue down 16%; reported streaming subscribers were 10.1 million (vs. 10.2M a year ago) and there have been 1.8 million hard‑bundle activations. Advertising revenue declined 5% overall but digital ad revenue grew ~44% year‑over‑year; content licensing was $53 million. International revenue was $72 million (+3% reported; roughly −5% ex‑FX) with international AOI $5 million (8% margin). On the balance sheet the company had roughly $428 million of cash, pro forma net debt and finance leases of about $1.3 billion (pro forma net leverage ~3.5x), retired 2029 notes and materially extended maturities into 2032 (≈75% of debt not due until July 2032), plans to pay down Term Loan A and terminate its credit facility, and announced an approximately $30 million accelerated share repurchase; management expects AOI to be back‑half weighted with Q2 the low point.AMC Networks Financial Statement Overview
Summary
Income Statement
56
Neutral
Balance Sheet
63
Positive
Cash Flow
68
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.30B | 2.31B | 2.42B | 2.71B | 3.10B | 3.08B |
| Gross Profit | 1.09B | 1.17B | 1.29B | 1.38B | 1.58B | 1.65B |
| EBITDA | 1.08B | 1.22B | 979.10M | 1.46B | 1.25B | 1.51B |
| Net Income | 52.48M | 89.40M | -226.55M | 215.46M | 7.59M | 250.60M |
Balance Sheet | ||||||
| Total Assets | 3.87B | 3.94B | 4.36B | 4.97B | 5.63B | 5.75B |
| Cash, Cash Equivalents and Short-Term Investments | 552.14M | 502.38M | 784.65M | 570.58M | 930.00M | 892.22M |
| Total Debt | 1.84B | 1.85B | 2.43B | 2.48B | 2.97B | 3.03B |
| Total Liabilities | 2.89B | 2.92B | 3.42B | 3.71B | 4.53B | 4.56B |
| Stockholders Equity | 955.24M | 981.87M | 855.60M | 1.05B | 806.99M | 851.09M |
Cash Flow | ||||||
| Free Cash Flow | 238.67M | 272.37M | 330.84M | 168.71M | 137.56M | 100.90M |
| Operating Cash Flow | 260.00M | 305.67M | 375.62M | 203.92M | 181.83M | 143.47M |
| Investing Cash Flow | -29.51M | -34.21M | -40.38M | -24.32M | -39.38M | -26.58M |
| Financing Cash Flow | -557.54M | -570.29M | -110.22M | -544.43M | -97.11M | -84.10M |
AMC Networks Technical Analysis
Positive
8.77
Price Trends
8.40
Positive
8.06
Positive
8.16
Positive
Market Momentum
0.45
Negative
59.81
Neutral
43.34
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AMCX, the sentiment is Positive. The current price of 8.77 is below the 20-day moving average (MA) of 9.13, above the 50-day MA of 8.40, and above the 200-day MA of 8.16, indicating a bullish trend. The MACD of 0.45 indicates Negative momentum. The RSI at 59.81 is Neutral, neither overbought nor oversold. The STOCH value of 43.34 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AMCX.
AMC Networks Risk Analysis
AMC Networks disclosed 35 risk factors in its most recent earnings report. AMC Networks 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 Networks Peers Comparison
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | $428.30M | 8.15 | 5.30% | ― | -3.42% | ― | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
57 Neutral | $3.92B | -19.60 | 16.27% | ― | -17.64% | -54.79% | |
56 Neutral | $470.27M | -1.56 | -44.91% | ― | ― | ― | |
55 Neutral | $61.26M | -12.41 | -5.46% | ― | 7.48% | 15.04% | |
54 Neutral | $1.00B | 15.27 | 15.82% | 6.52% | -9.25% | -54.61% | |
52 Neutral | $1.20B | -1.76 | 29.90% | ― | 10.63% | -7.77% |
* Communication Services Sector Average
AMCX
AMC Networks
9.80
3.32
51.23%
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2.35
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SBGI
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AMC
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1.79
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-47.35%
LION
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13.40
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107.43%
STRZ
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26.13
8.08
44.76%
AMC Networks Corporate Events
Business Operations and StrategyRegulatory Filings and Compliance
AMC Networks Rebrands as AMC Global Media Inc.
Neutral
Apr 8, 2026
On April 8, 2026, AMC Networks Inc. amended and restated its articles of incorporation and bylaws in Nevada to change its corporate name to AMC Global Media Inc., while keeping its NASDAQ listing under the existing ticker AMCX. The move leaves all...
Executive/Board Changes
AMC Networks Announces Interim Shift in Financial Leadership
Neutral
Apr 3, 2026
AMC Networks Inc., a U.S. entertainment and television content provider, reported a leadership change in its finance organization effective March 31, 2026. The company, which operates cable networks and streaming services with a focus on premium a...
Business Operations and StrategyPrivate Placements and Financing
AMC Networks Fully Retires 2029 Notes, Extends Maturities
Positive
Mar 26, 2026
On March 13, 2026, AMC Networks completed the early settlement of an exchange offer in which about $830.6 million of its 10.25% senior secured notes due 2029 were swapped for new 10.50% senior secured notes due 2032, followed by the tender of an a...
Business Operations and StrategyStock BuybackPrivate Placements and Financing
AMC Networks Completes Major Exchange of Senior Secured Notes
Positive
Mar 13, 2026
On March 13, 2026, AMC Networks completed the early settlement of its exchange offer, swapping approximately $830.6 million, or about 95% of its outstanding 10.25% Senior Secured Notes due 2029, for newly issued 10.50% Senior Secured Notes due 203...
Business Operations and StrategyExecutive/Board Changes
AMC Networks Strengthens Leadership with Board and Executive Moves
Positive
Mar 13, 2026
On March 11, 2026, AMC Networks appointed Chief Executive Officer Kristin A. Dolan as a new Class B director, expanding its board from 11 to 12 members and further aligning top management with board-level governance. The move consolidates leadersh...
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.