AMC Entertainment
AMC NYSE Movies & Entertainment Financials FY2016–FY2025
AMC Entertainment's revenue rose 4.6% to $4.8 billion in fiscal 2025. Its operating margin was −0.4%, up from −1.7% a year earlier. Free cash flow was −$366 million. The diluted share count rose 42.0%.
About these figures. Share counts and per-share figures for earlier years are restated for stock splits (1-for-10 and 2-for-1), so every year is on today's share basis.
What AMC Entertainment does
AMC Entertainment runs movie theatres in the United States and Europe. At the end of 2025 it owned, leased or operated 855 theatres with 9,640 screens in 11 countries: 533 theatres in 41 states and the District of Columbia, and 322 in Europe, including the United Kingdom, Spain, Italy, Germany and the Nordic countries. Besides new films, it shows independent and foreign films, performing arts, music and sports, and rents out theatres for private events.
Most of its revenue comes from ticket sales and food and drinks. The rest comes from on-screen advertising, loyalty program fees, auditorium rentals, gift cards and online ticket fees. It reports two segments, U.S. markets and International markets, and 23.6% of its 2025 revenue came from outside the United States. Films from its seven largest studio distributors made up about 83% of its U.S. ticket revenue. AMC says it competes with other theatres for moviegoers, films and sites, and with streaming services, cable TV, concerts, sporting events and other entertainment.
At the end of 2025 AMC had 33,311 workers, 2,931 of them full-time. About 39 million households were enrolled in its Stubs loyalty program, which includes A-List, a monthly subscription that lets members see movies up to four times a week. In 2025 it swapped and refinanced debt, and a subsidiary issued $857.0 million of new secured notes due 2029.
- Legal name
- AMC ENTERTAINMENT HOLDINGS, INC.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Feb 23, 2026
- Accession · CIK
- 0001411579-26-000016
0001411579
Revenue and margins
AMC Entertainment had $4.8B of revenue in fiscal 2025, up 4.6% on the year before.
Net income and earnings per share
Loss periods are shown in red.
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Cash flow
Free cash flow was −$366M in fiscal 2025, −7.6% of revenue. Cash from operations minus capital spending.
Dividends, buybacks and share count
AMC Entertainment returned $0.0M to shareholders in fiscal 2025. The diluted share count rose 42.1%.
Value AMC Entertainment yourself
Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.
Discounted cash flow
Value per share
—
Adds net cash of −$3.6B and divides by 472.9M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.
Balance sheet
Cash, debt and the ratios that show how comfortably AMC Entertainment can carry it.
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $1.6B | $632M | $884M | $632M | $429M |
| Debt incl. finance leases | $5.2B | $5.0B | $4.6B | $4.2B | $4.1B |
| Net debt / EBITDA | — | — | 12.6x | 14.8x | 12.3x |
| Interest coverage | −2.0x | −1.4x | −0.2x | −0.2x | −0.0x |
| Current ratio | 1.1x | 0.5x | 0.7x | 0.5x | 0.4x |
| Quick ratio | 1.1x | 0.5x | 0.7x | 0.5x | 0.4x |
| Total assets | $10.8B | $9.1B | $9.0B | $8.2B | $8.0B |
| Total liabilities | $12.6B | $11.8B | $10.9B | $10.0B | $9.9B |
| Shareholders' equity | −$1.8B | −$2.6B | −$1.8B | −$1.8B | −$1.9B |
| Net debt (− = net cash) | $3.6B | $4.4B | $3.7B | $3.6B | $3.6B |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$0.3M
1 insider
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
—
$0.0M
| Date | Insider | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| May 19, 2026 | Adam M AronChairman, CEO & President, Director | Bought | 250,000 | $1.38 | $0.3M | Form 4 |
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.
| Test | FY23 | FY24 | FY25 |
|---|---|---|---|
| Net income is positive | ✕ | ✕ | ✕ |
| Cash from operations is positive | ✕ | ✕ | ✕ |
| Return on assets rose | ✓ | ✓ | ✕ |
| Cash from operations exceeds net income | ✓ | ✓ | ✓ |
| Debt fell relative to assets | ✕ | ✓ | ✕ |
| Current ratio rose | ✓ | ✕ | ✕ |
| Share count didn't rise | ✕ | ✕ | ✕ |
| Gross margin rose | — | — | — |
| Revenue rose relative to assets | ✓ | ✕ | ✓ |
| F-score | 4 / 8 | 3 / 8 | 2 / 8 |
| Accruals ratio | −2.0% | −3.5% | −6.3% |
| Altman Z'' | −3.44 | −4.18 | −4.72 |
Similar companies
Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.
| Company | Market cap | Growth | Op. margin | FCF margin | ROIC | P/E | F-score | |
|---|---|---|---|---|---|---|---|---|
| AMC Entertainment AMC | $2.1B | 4.6% | −0.4% | −7.6% | −0.8% | — | 2 | |
| Roku ROKU | $24.1B | 15.2% | −0.1% | 10.1% | — | 67.5x | 6 | Compare → |
| TKO Group TKO | $13.1B | −3.1% | 17.6% | — | 5.9% | — | 5 | Compare → |
| Warner Music Group WMG | — | 4.4% | 10.4% | 8.0% | 12.2% | — | — | Compare → |
| Lionsgate Studios LION | $3.6B | 1.8% | 3.7% | 0.4% | 8.3% | — | 5 | Compare → |
10 years of figures
US$ millions unless stated. Hover a ratio's name for its definition.
| Fiscal year | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | $3.2B | $5.1B | $5.5B | $5.5B | $1.2B | $2.5B | $3.9B | $4.8B | $4.6B | $4.8B |
| Gross profit | $2.1B | — | — | — | — | — | — | — | — | — |
| Operating income | $214M | $102M | $265M | $136M | −$4.1B | −$930M | −$522M | −$74.3M | −$79.3M | −$17.4M |
| Interest expense | $122M | $274M | $342M | $341M | $357M | $458M | $379M | $411M | $444M | $530M |
| Pretax income | $150M | −$333M | $124M | −$172M | −$4.5B | −$1.3B | −$971M | −$393M | −$351M | −$628M |
| Income tax | $38.0M | $154M | $13.6M | −$22.5M | $59.9M | −$10.2M | $2.5M | $3.4M | $2.1M | $4.5M |
| Net income | $112M | −$487M | $110M | −$149M | −$4.6B | −$1.3B | −$974M | −$397M | −$353M | −$632M |
| Diluted EPS | $5.65 | −$19.00 | $2.05 | −$7.20 | −$195.80 | −$13.29 | −$9.29 | −$2.37 | −$1.06 | −$1.34 |
| Diluted shares | 0.02B | 0.03B | 0.03B | 0.02B | 0.02B | 0.10B | 0.10B | 0.17B | 0.33B | 0.47B |
| Cash flow | ||||||||||
| Cash from operations | $432M | $537M | $523M | $579M | −$1.1B | −$614M | −$629M | −$215M | −$50.8M | −$120M |
| Capital expenditure | $422M | $627M | $576M | $518M | $174M | $92.4M | $202M | $226M | $246M | $246M |
| Free cash flow | $10.0M | −$89.4M | −$53.1M | $60.9M | −$1.3B | −$707M | −$831M | −$441M | −$296M | −$366M |
| Depreciation and amortization | $268M | $539M | $538M | $450M | $498M | $425M | $396M | $365M | $320M | $313M |
| Stock-based compensation | $4.9M | $5.7M | $14.9M | $4.4M | $25.4M | $43.1M | $22.5M | $42.5M | $22.0M | $16.9M |
| Acquisitions | $0.0M | $0.0M | $0.0M | $11.8M | $0.0M | $8.2M | $17.8M | $4.0M | $0.0M | $0.0M |
| Share buybacks | $0.0M | $34.0M | $21.8M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Dividends paid | $79.6M | $105M | $258M | $84.1M | $6.5M | $0.0M | $0.7M | $0.0M | $0.0M | $0.0M |
| Dividends and buybacks | $79.6M | $139M | $280M | $84.1M | $6.5M | $0.0M | $0.7M | $0.0M | $0.0M | $0.0M |
| Balance sheet | ||||||||||
| Cash and short-term investments | $207M | $310M | $313M | $265M | $308M | $1.6B | $632M | $884M | $632M | $429M |
| Total debt | $3.8B | $4.3B | $4.9B | $4.9B | $5.4B | $5.2B | $4.9B | $4.5B | $4.1B | $4.0B |
| Finance lease liabilities | $0.0M | $0.0M | $0.0M | $99.9M | $96.0M | $72.7M | $58.8M | $55.4M | $49.3M | $52.5M |
| Current assets | $684M | $872M | $781M | $673M | $487M | $1.9B | $902M | $1.2B | $947M | $731M |
| Current liabilities | $1.2B | $1.4B | $1.3B | $1.9B | $1.6B | $1.8B | $1.7B | $1.6B | $1.7B | $1.8B |
| Inventory | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Property and equipment, net | $3.0B | $3.1B | $3.0B | $2.6B | $2.3B | $1.9B | $1.7B | $1.5B | $1.4B | $1.3B |
| Total assets | $8.6B | $9.8B | $9.5B | $13.7B | $10.3B | $10.8B | $9.1B | $9.0B | $8.2B | $8.0B |
| Total liabilities | $6.6B | $7.7B | $8.1B | $12.5B | $13.1B | $12.6B | $11.8B | $10.9B | $10.0B | $9.9B |
| Shareholders' equity | $2.0B | $2.1B | $1.4B | $1.2B | −$2.9B | −$1.8B | −$2.6B | −$1.8B | −$1.8B | −$1.9B |
| Margins | ||||||||||
| Gross margin | 66.3% | — | — | — | — | — | — | — | — | — |
| Operating margin | 6.6% | 2.0% | 4.9% | 2.5% | −330.2% | −36.8% | −13.4% | −1.5% | −1.7% | −0.4% |
| EBITDA margin | 14.9% | 12.6% | 14.7% | 10.7% | −290.1% | −20.0% | −3.2% | 6.0% | 5.2% | 6.1% |
| Net margin | 3.5% | −9.6% | 2.0% | −2.7% | −369.4% | −50.2% | −24.9% | −8.2% | −7.6% | −13.0% |
| FCF margin | 0.3% | −1.8% | −1.0% | 1.1% | −104.9% | −28.0% | −21.2% | −9.2% | −6.4% | −7.6% |
| Returns | ||||||||||
| Return on capital | 3.6% | 1.4% | 3.9% | 1.8% | −78.1% | −35.0% | −22.9% | −3.3% | −3.5% | −0.8% |
| Return on capital employed | 3.6% | 1.3% | 3.2% | 1.4% | −40.1% | −10.5% | −6.3% | −1.0% | −1.1% | −0.3% |
| Return on equity | 6.3% | −23.6% | 6.3% | −11.4% | — | — | — | — | — | — |
| Return on assets | 1.6% | −5.3% | 1.1% | −1.3% | −38.3% | −12.0% | −9.8% | −4.4% | −4.1% | −7.8% |
| Growth | ||||||||||
| Revenue growth | 9.8% | 57.0% | 7.5% | 0.2% | −77.3% | 103.5% | 54.7% | 23.0% | −3.6% | 4.6% |
| Net income growth | 7.5% | −536.2% | — | −235.4% | — | — | — | — | — | — |
| EPS growth | 6.6% | −436.3% | — | −451.2% | — | — | — | — | — | — |
| FCF growth | −92.5% | −994.0% | — | — | −2,240.1% | — | — | — | — | — |
| Share count change | 0.9% | 29.7% | 1.5% | −20.2% | 12.9% | 307.3% | 9.7% | 60.0% | 98.6% | 42.1% |
| Financial health | ||||||||||
| Net debt / EBITDA | 7.5x | 6.3x | 5.7x | 8.1x | — | — | — | 12.6x | 14.8x | 12.3x |
| Debt / equity | 1.9x | 2.0x | 3.5x | 4.1x | — | — | — | — | — | — |
| Interest coverage | 1.8x | 0.4x | 0.8x | 0.4x | −11.5x | −2.0x | −1.4x | −0.2x | −0.2x | −0.0x |
| Current ratio | 0.6x | 0.6x | 0.6x | 0.4x | 0.3x | 1.1x | 0.5x | 0.7x | 0.5x | 0.4x |
| Quick ratio | 0.6x | 0.6x | 0.6x | 0.4x | 0.3x | 1.1x | 0.5x | 0.7x | 0.5x | 0.4x |
| Capital allocation | ||||||||||
| Capex / revenue | 13.0% | 12.3% | 10.6% | 9.5% | 14.0% | 3.7% | 5.2% | 4.7% | 5.3% | 5.1% |
| Stock comp / revenue | 0.2% | 0.1% | 0.3% | 0.1% | 2.0% | 1.7% | 0.6% | 0.9% | 0.5% | 0.4% |
| Payouts / FCF | 796.0% | — | — | 138.1% | — | — | — | — | — | — |
| Quality scores | ||||||||||
| Piotroski F-score | 5.0 | 4.0 | 4.0 | 5.0 | 1.0 | 4.0 | 3.0 | 4.0 | 3.0 | 2.0 |
| Altman Z'' | 0.3 | −0.1 | −0.2 | −0.6 | −5.3 | −2.7 | −3.9 | −3.4 | −4.2 | −4.7 |
| Accruals ratio | −4.7% | −11.1% | −4.3% | −6.3% | −28.9% | −6.2% | −3.5% | −2.0% | −3.5% | −6.3% |
Source: SEC EDGAR XBRL filings (CIK 0001411579). Data updated October 10, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.