AMC Entertainment vs Warner Music Group
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KIRA’s take AI analyst
I put AMC Entertainment and Warner Music Group side by side, using each one’s latest annual report. Here is what stands out:
- Warner Music Group is the larger business, with $6.7B of revenue in fiscal 2025 against $4.8B for AMC Entertainment.
- Warner Music Group kept more of each dollar of sales as operating profit (10.4% operating margin, against −0.4%).
- Warner Music Group turned more of its sales into free cash flow (8.0% FCF margin, against −7.6%).
- Warner Music Group earned a higher return on the capital invested in it (12.2%, against −0.8%).
Who comes out ahead
Of the 7 measures where higher (or lower) is clearly better, how many each company leads.
AMC Entertainment
AMC
2/7
Revenue growth5-year growth
Warner Music Group
WMG
5/7
Operating marginNet marginFCF marginReturn on capitalNet debt / EBITDA
Side by side
Best in the row
| Latest fiscal year | AMC FY25 | WMG FY25 |
|---|---|---|
| Size | ||
| Market cap | $2.1B | — |
| Revenue | $4.8B | $6.7B |
| Free cash flow | −$366M | $539M |
| Net income | −$632M | $365M |
| Growth | ||
| Revenue growth | 4.6% | 4.4% |
| 5-year growth | 31.3% | 8.5% |
| Share count change | 42.1% | — |
| Profitability | ||
| Gross margin | — | 45.9% |
| Operating margin | −0.4% | 10.4% |
| Net margin | −13.0% | 5.4% |
| FCF margin | −7.6% | 8.0% |
| Return on capital | −0.8% | 12.2% |
| Return on equity | — | 62.7% |
| Balance sheet | ||
| Net debt | $3.6B | $3.8B |
| Net debt / EBITDA | 12.3x | 3.6x |
| Dividends and buybacks | $0.0M | $399M |
| Valuation & quality | ||
| P/E | — | — |
| Piotroski F-score | 2 | — |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.

