American Shared Hospital Services (AMS)
XASE:AMS
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American Shared Hospital Services
(NYSE MKT:AMS)
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Rating:44Neutral
Price Target:
$1.50
▼(-28.57% Downside)
Action:ReiteratedDate:04/01/26
Overall score reflects pressured fundamentals (margin collapse, return to losses, and negative free cash flow) and bearish technicals with the stock trading well below key moving averages. Guidance and operational momentum provide some offset, but liquidity/covenant and going-concern risks keep the score low; valuation is also not supportive given the loss-driven negative P/E and no stated dividend.
Positive Factors
Shift to direct patient care
A durable shift toward direct patient care (now a majority of revenue) increases revenue predictability and margin upside as utilization scales. Usage-linked fees and treatment volumes create more stable, operating‑levered cash flows versus one‑time equipment leases.
Negative Factors
Severe gross margin compression
A structural decline in gross margins materially reduces operating leverage and long‑term profitability. If driven by reimbursement pressure, pricing, or higher service costs, margin compression limits reinvestment and makes return to consistent positive earnings harder without sustained efficiency gains or pricing power.
Read all positive and negative factors
Positive Factors
Negative Factors
Shift to direct patient care
A durable shift toward direct patient care (now a majority of revenue) increases revenue predictability and margin upside as utilization scales. Usage-linked fees and treatment volumes create more stable, operating‑levered cash flows versus one‑time equipment leases.
Read all positive factors
American Shared Hospital Services (AMS) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$8.85M
Dividend YieldN/A
Average Volume (3M)78.93K
Price to Earnings (P/E)―
Beta (1Y)0.08
Revenue Growth17.84%
EPS Growth-156.13%
CountryUS
Employees81
SectorHealthcare
Sector Strength45
IndustryMedical - Care Facilities
Share Statistics
EPS (TTM)-0.09
Shares Outstanding6,602,000
10 Day Avg. Volume41,017
30 Day Avg. Volume78,931
Financial Highlights & Ratios
PEG Ratio0.05
Price to Book (P/B)<0.01
Price to Sales (P/S)0.50
P/FCF Ratio>-0.01
Enterprise Value/Market Cap478.64
Enterprise Value/Revenue150.79
Enterprise Value/Gross Profit836.18
Enterprise Value/Ebitda1.04K
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
American Shared Hospital Services Business Overview & Revenue Model
Company Description
American Shared Hospital Services (AMS) is a leading provider of advanced medical equipment and services to healthcare facilities across the United States. The company specializes in offering cutting-edge technologies in the field of radiation the...
How the Company Makes Money
AMS makes money primarily by providing hospitals with access to expensive, specialized medical technology through shared-services and similar arrangements, rather than hospitals purchasing and operating all equipment entirely on their own. Under t...
American Shared Hospital Services Earnings Call Summary
Earnings Call Date:Mar 31, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 20, 2026
Earnings Call Sentiment Neutral
The call described meaningful operational progress—growth in direct patient care, strong LINAC volume expansion, international gains, partnership extensions and stabilized clinical staffing—positioning the company for future growth. However, these positives are counterbalanced by significant near-term financial stress: compressed gross margins, a full-year net loss versus prior-year income, a large decline in cash balance, unmet covenant metrics, and a stated going-concern risk that requires lender amendments. Management is optimistic about the long-term trajectory, but the company's liquidity and covenant issues represent material short-term risks.Positive Updates
Direct Patient Care Revenue Growth
Direct Patient Care Services revenue increased 23.7% year-over-year to $15.5M for FY2025 and comprised 63% of Q4 revenue ($4.8M), reflecting the successful shift to a direct patient care model and more stable, scalable revenue mix.
Negative Updates
Quarterly and Leasing Revenue Declines
Q4 total revenue declined 14.8% to $7.7M (from $9.1M), driven by lower proton beam volumes and the expiration of three Gamma Knife contracts; Medical Equipment Leasing revenue fell 33.9% in Q4 to $2.9M and leasing revenue declined for the year to $12.6M.
Read all updates
Q4-2025 Updates
Positive
Negative
Direct Patient Care Revenue Growth
Direct Patient Care Services revenue increased 23.7% year-over-year to $15.5M for FY2025 and comprised 63% of Q4 revenue ($4.8M), reflecting the successful shift to a direct patient care model and more stable, scalable revenue mix.
Read all positive updates
Company Guidance
Management's guidance was cautiously optimistic: they expect 2026 to show improving treatment volumes and margins as the company scales its now majority direct‑patient care platform (FY 2025 revenue $28.1M; direct patient care revenue +23.7% to $15.5M; leasing $12.6M), pointing to strong LINAC momentum (LINAC revenue +35.4% to $11.5M and 28,147 LINAC sessions in 2025) and early same‑center volume gains into 2026; they reiterated priorities to increase volumes, drive operational efficiencies and margin improvement (FY gross margin $5.1M/18%; Q4 gross margin 12%; FY adjusted EBITDA $5.5M; Q4 adj. EBITDA $868K). Key growth catalysts and timing include Guadalajara beginning operations in 2026, a Bristol center targeted late‑2027 and a proton center in 2028 with staffing begun several months before openings, a 7‑year Orlando Health lease extension, and ongoing lender negotiations to amend covenants and secure flexibility given year‑end cash of ~$3.7M, total debt of ~$17.3M, $7.5M of 2025 capex, and shareholders' equity of $24M ($3.66/sh).American Shared Hospital Services Financial Statement Overview
Summary
Income Statement
44
Neutral
Balance Sheet
58
Neutral
Cash Flow
39
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 28.08M | 28.34M | 21.32M | 19.75M | 17.63M |
| Gross Profit | 5.06M | 9.19M | 9.34M | 8.38M | 6.73M |
| EBITDA | 4.07M | 8.91M | 6.97M | 8.44M | 6.97M |
| Net Income | -1.55M | 2.19M | 610.00K | 1.33M | 194.00K |
Balance Sheet | |||||
| Total Assets | 55.48M | 60.20M | 48.16M | 43.96M | 45.43M |
| Cash, Cash Equivalents and Short-Term Investments | 3.71M | 11.03M | 13.69M | 12.34M | 8.14M |
| Total Debt | 4.23B | 23.23M | 17.64M | 14.31M | 17.47M |
| Total Liabilities | 27.79B | 30.17M | 21.88M | 18.33M | 21.19M |
| Stockholders Equity | 24.03B | 25.18M | 22.62M | 21.63M | 19.89M |
Cash Flow | |||||
| Free Cash Flow | -4.54B | -7.77M | -555.00K | 6.85M | 4.59M |
| Operating Cash Flow | 3.10B | 167.00K | 5.72M | 7.24M | 6.27M |
| Investing Cash Flow | -7.63B | -7.11M | -6.27M | -388.00K | -1.67M |
| Financing Cash Flow | -3.03B | 4.41M | 1.91M | -2.66M | -655.00K |
American Shared Hospital Services Technical Analysis
Negative
2.10
Price Trends
2.04
Negative
2.08
Negative
2.27
Negative
Market Momentum
-0.18
Positive
8.59
Positive
7.61
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AMS, the sentiment is Negative. The current price of 2.1 is above the 20-day moving average (MA) of 1.88, above the 50-day MA of 2.04, and below the 200-day MA of 2.27, indicating a bearish trend. The MACD of -0.18 indicates Positive momentum. The RSI at 8.59 is Positive, neither overbought nor oversold. The STOCH value of 7.61 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AMS.
American Shared Hospital Services Risk Analysis
American Shared Hospital Services disclosed 20 risk factors in its most recent earnings report. American Shared Hospital Services 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
American Shared Hospital Services Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
47 Neutral | $56.29M | -0.16 | -71.45% | ― | -47.03% | -274.41% | |
47 Neutral | $18.18M | -0.08 | -257.39% | ― | -2.15% | -6.72% | |
44 Neutral | $8.85M | -8.99 | -8.75% | ― | 17.84% | -156.13% | |
44 Neutral | $16.37M | -0.11 | ― | ― | -22.38% | 56.66% | |
43 Neutral | $28.03M | -13.22 | 15.27% | 11.14% | -0.29% | 94.56% |
* Healthcare Sector Average
AMS
American Shared Hospital Services
1.34
-1.31
-49.43%
CCM
Concord Medical Services
3.77
-0.46
-10.87%
CCEL
Cryo-Cell International
3.48
-1.64
-32.02%
DCGO
DocGo
0.57
-1.94
-77.29%
PIII
P3 Health Partners
2.52
-5.90
-70.07%
American Shared Hospital Services Corporate Events
Business Operations and Strategy
American Shared Hospital Extends Proton Therapy Lease Agreement
Positive
Mar 19, 2026
American Shared Hospital Services has amended its long-standing Proton Beam Radiation Therapy Lease Agreement with Orlando Health, originally executed in 2006 and previously modified in 2012. On March 13, 2026, the parties agreed to extend the lea...
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.