AMC Networks (AMCX) AI Stock Analysis

• Market Cap: $348.97M
• Dividend Yield: N/A
• Average Volume (3M): 471.60K
• Price to Earnings (P/E): 6.0
• Beta (1Y): 0.83
• Revenue Growth: -7.38%
• EPS Growth: -483.59%
• Country: US
• Employees: 1,800
• Sector: Communication Services
• Sector Strength: 97
• Industry: Entertainment
• EPS (TTM): 0.64
• Shares Outstanding: 31,229,673
• 10 Day Avg. Volume: 499,679
• 30 Day Avg. Volume: 471,603
• PEG Ratio: -0.03
• Price to Book (P/B): 0.43
• Price to Sales (P/S): 0.18
• P/FCF Ratio: 1.55
• Enterprise Value/Market Cap: 4.89
• Enterprise Value/Revenue: 0.74
• Enterprise Value/Gross Profit: 1.49
• Enterprise Value/Ebitda: 1.24
• 1Y Price Target: $7.00
• Price Target Upside: -14.32% Downside
• Rating Consensus: Moderate Sell
• Number of Analyst Covering: 6
• EPS Forecast (FY): 1.51
• Revenue Forecast (FY): $2.25B

• Rating: 54 Neutral
• Price Target: $8.00 ▼(-2.08% Downside)
• Action: Reiterated Date: 02/25/26
• Date: Action: Reiterated 02/25/26

The score is driven mainly by middling financial performance: strong and improving free cash flow and a return to profitability are tempered by ongoing revenue declines and elevated leverage. Technicals add modest pressure as the stock trades below key moving averages with slightly negative momentum. Valuation is a relative positive due to the low P/E, while the latest earnings call is mixed given solid execution and liquidity improvements but lower 2026 AOI/FCF guidance and persistent linear/advertising headwinds.

Positive Factors

Free cash flow generation

Consistent, sizable free cash flow (~$306M in 2025) demonstrates durable cash conversion and funds debt paydown, content investment, and optionality. Reliable FCF reduces dependence on external financing and supports strategic choices even amid advertising cyclicality.

Streaming-led revenue mix shift

Streaming becoming the largest domestic revenue source reflects a structural repositioning to subscription-driven, recurring revenue. Higher streaming mix and 12% growth improve revenue stability versus volatile linear ad and affiliate channels, aiding longer-term margin sustainability if subscriber trends resume.

Debt reduction and improved liquidity

Material debt retirements and ~ $675M liquidity materially lower near-term rollover risk and increase financial flexibility. This stronger liquidity position lets management prioritize deleveraging, content investment, or opportunistic capital allocation without immediate refinancing pressure.

Negative Factors

Multi-year revenue decline

Sustained top-line contraction (≈19% decline in 2025) erodes operating leverage and puts pressure on long-term growth prospects. Even with strong margins, shrinking revenue limits absolute earnings upside and raises reliance on new streams like licensing or higher ARPU to restore growth.

Elevated leverage remains

A still-heavy debt load constrains strategic flexibility and raises refinancing and interest-rate risk. Even after paydowns, high leverage amplifies downside in weaker ad or subscriber environments and requires sustained FCF to materially improve the capital structure over time.

Subscriber growth plateau

Flat streaming subscriber counts indicate limited traction in expanding the core recurring base. If subscriber growth remains stagnant, streaming revenue gains may not offset declines in linear affiliate and advertising, pressuring long-term revenue and the company's ability to sustainably grow FCF.

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 two segments, Domestic Operations, and International and Other. The Domestic Operations segment operates various national programming networks, including the AMC, WE tv, BBC AMERICA, IFC, and SundanceTV; provides subscription streaming services comprising Acorn TV, Shudder, Sundance Now, ALLBLK, and HIDIVE, as well as AMC+ and other streaming initiatives; and engages in film distribution business under the IFC Films name. This segment also produces and licenses original programming for various programming networks, as well as services the national programming networks. The International and Other segment operates a portfolio of channels under the AMCNI name; and production and comedy venues activities under the Levity name. AMC Networks Inc. was founded in 1980 and is headquartered in New York, New York.

How the Company Makes Money

AMC Networks generates revenue primarily through three key streams: advertising revenue, subscription fees, and content licensing. Advertising revenue is derived from selling commercial airtime on its cable networks, which is bolstered by the popularity of its original programming. Subscription fees come from AMC+, its streaming service, where users pay monthly for access to exclusive content. Additionally, the company licenses its content to third parties, such as streaming platforms and international broadcasters, further enhancing its revenue. Strategic partnerships with cable and satellite providers also contribute to its earnings by ensuring broader distribution of its channels.

AMC Networks Financial Statement Overview

Summary

Cash flow is a clear strength (positive each year shown; ~$306M FCF in 2025), and profitability rebounded in 2025 after a 2024 loss. However, multi-year revenue contraction (down ~19% in 2025 vs. 2024) and a debt-heavy balance sheet (high leverage despite 2025 debt reduction) keep overall financial quality below average.

Income Statement

Revenue has been contracting for several years (down ~19% in 2025 vs. 2024, following declines in 2024 and 2023), signaling ongoing top-line pressure. Profitability improved meaningfully in 2025 with a return to positive net income (~8.4% net margin) after a loss in 2024, but earnings have been volatile across the period (very low profit in 2022, strong in 2021/2023, loss in 2024). EBITDA margin remains strong (about 48% in 2025), but the combination of shrinking revenue and uneven bottom-line results keeps the income statement quality only mid-range.

Balance Sheet

Leverage is elevated, with total debt still large (~$1.85B in 2025) relative to equity (~$0.98B), and prior years showing notably high debt-to-equity levels (roughly 2.4x–5.0x in 2020–2024 where provided). Total assets have trended down from 2020–2025, consistent with a shrinking balance sheet. Equity improved in 2025 versus 2024 and debt declined sharply versus 2024, but the overall capital structure remains debt-heavy, leaving less flexibility if operating conditions weaken.

Cash Flow

Cash generation is a relative strength: operating cash flow and free cash flow were positive each year shown, including ~$306M of free cash flow in 2025. Free cash flow improved versus 2024, and free cash flow has generally tracked net income well (close to 1x in 2025), suggesting earnings are converting to cash. The main weakness is that operating cash flow covers only about ~56% of debt in 2025 (similar ~53% in 2024), implying leverage still relies on sustained cash generation and/or refinancing capacity.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	2.31B	2.42B	2.71B	3.10B	3.08B
Gross Profit	1.17B	1.29B	1.38B	1.58B	1.65B
EBITDA	1.22B	979.10M	1.46B	1.25B	1.51B
Net Income	89.40M	-226.55M	215.46M	7.59M	250.60M
Balance Sheet
Total Assets	3.94B	4.36B	4.97B	5.63B	5.75B
Cash, Cash Equivalents and Short-Term Investments	502.38M	784.65M	570.58M	930.00M	892.22M
Total Debt	1.85B	2.43B	2.48B	2.97B	3.03B
Total Liabilities	2.92B	3.42B	3.71B	4.53B	4.56B
Stockholders Equity	981.87M	855.60M	1.05B	806.99M	851.09M
Cash Flow
Free Cash Flow	272.37M	330.84M	168.71M	137.56M	100.90M
Operating Cash Flow	305.67M	375.62M	203.92M	181.83M	143.47M
Investing Cash Flow	-34.21M	-40.38M	-24.32M	-39.38M	-26.58M
Financing Cash Flow	-570.29M	-110.22M	-544.43M	-97.11M	-84.10M

AMC Networks Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 8.17
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: 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 8.17 is above the 20-day moving average (MA) of 7.84, below the 50-day MA of 8.44, and above the 200-day MA of 7.54, indicating a neutral trend. The MACD of -0.10 indicates Negative momentum. The RSI at 52.65 is Neutral, neither overbought nor oversold. The STOCH value of 35.94 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AMCX.

AMC Networks Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	60 Neutral	$48.67B	4.58	-11.27%	4.14%	2.83%	-41.78%
SBGI	58 Neutral	$1.14B	―	-21.83%	6.52%	-0.98%	82.16%
GAIA	56 Neutral	$84.89M	-17.47	-5.63%	―	12.98%	27.93%
AMCX	54 Neutral	$348.97M	5.97	9.73%	―	-7.38%	-483.59%
LION	47 Neutral	$2.61B	-10.28	―	―	97.19%	-21.46%
AMC	44 Neutral	$614.27M	-0.89	―	―	9.74%	12.29%
STRZ	44 Neutral	$184.59M	-9.21	―	―	-2.85%	75.96%

AMC Networks Corporate Events

AMC Networks Launches Exchange Offer to Extend Debt Maturities

On February 23, 2026, AMC Networks launched a private exchange offer for any and all of its $875 million 10.25% Senior Secured Notes due 2029, proposing to swap them for new 10.50% Senior Secured Notes due 2032, with enhanced consideration for holders who tender by March 6, 2026 and a lower exchange consideration for those participating after that date but before March 23, 2026. Concurrently, the company began a consent solicitation to amend covenants on the existing notes to permit up to $50 million of equity buybacks and align restricted payment flexibility with its amended term loan, a move that, if it secures majority noteholder support, would extend maturities, harmonize its debt stack and give management more latitude in capital allocation, including potential share repurchases, while folding the new issuance into an existing 2032 notes series.

The most recent analyst rating on (AMCX) stock is a Hold with a $7.50 price target. To see the full list of analyst forecasts on AMC Networks stock, see the AMCX Stock Forecast page.

AMC Networks Amends Notes to Enable Share Buybacks

On February 23, 2026, AMC Networks Inc. obtained consents from approximately 94% of holders of its $400 million 10.50% Senior Secured Notes due 2032, enabling a first supplemental indenture that loosens restrictions on equity repurchases up to $50 million, tightens limitations on transfers of key trademarks and narrows permitted investments in unrestricted subsidiaries. The amendments, which became effective upon execution of the supplemental indenture but will not operate until a consent fee is paid, are designed to give AMC Networks additional flexibility for share buybacks while reinforcing protection of core intellectual property and creditor safeguards, and the company has extended the related consent solicitation deadline to March 6, 2026, leaving all other terms of the solicitation unchanged.

The moves reflect a negotiated balance between shareholder-focused capital allocation and noteholder protections, signaling AMC Networks’ intent to actively manage its capital structure while preserving value in its brands and limiting riskier flows of value to unrestricted subsidiaries, with the high participation rate suggesting broad support among bond investors. Noteholders who already consented do not need to take further action, and consents are now irrevocable, underscoring that the key economic and covenant changes for stakeholders are effectively locked in, subject only to completion of the consent fee payment and other stated conditions in the solicitation process.

The most recent analyst rating on (AMCX) stock is a Hold with a $7.50 price target. To see the full list of analyst forecasts on AMC Networks stock, see the AMCX Stock Forecast page.

AMC Networks Announces Upcoming Chief Financial Officer Departure

On January 22, 2026, AMC Networks Inc. announced that Chief Financial Officer Patrick O’Connell will leave the company to pursue an opportunity outside the media industry, with the company emphasizing that his departure does not stem from any disagreement over operations, policies or practices. O’Connell will remain in his role through March to ensure an orderly transition of his responsibilities, while AMC Networks has begun a search for his successor, a move that signals an impending change in the company’s senior financial leadership but with continuity measures in place to mitigate disruption for stakeholders.

The most recent analyst rating on (AMCX) stock is a Hold with a $8.00 price target. To see the full list of analyst forecasts on AMC Networks stock, see the AMCX Stock Forecast page.