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what it is
AMC runs movie theaters in the U.S. and Europe and makes money from tickets, popcorn, and everything around the seat.
how it gets paid
Last year Amc Entertainment made $4.8B in revenue. Admissions was the main engine at $2.60B, or 54% of sales.
why it's growing
Revenue grew 4.6% last year. Revenue grew 4.6% vs. prior year to $4.8B.
what just happened
AMC reported $4.8B in annual revenue, but the business still lost money with FY2024 EPS estimated at -$1.06.
At a glance
C+ balance sheet — struggling to keep the lights on
25/100 earnings predictability — expect surprises
-$1.06 fy2024 eps est
$5B fy2024 rev est
6.7% operating margin
xvary composite: 28/100 — weak
What they do
AMC runs movie theaters in the U.S. and Europe and makes money from tickets, popcorn, and everything around the seat.
Scale is the story. AMC runs 871 theatres and 9,798 screens across 11 countries, including 544 theatres in the U.S. and 327 in Europe. If a studio wants wide reach fast, you start with the chain that already has seats in the biggest cities.
How they make money
$4.8B
annual revenue · their business grew +4.6% last year
Admissions
$2.60B
+5.0%
Food & beverage
$1.50B
+4.0%
Other theatre
$0.40B
+1.0%
Advertising and partnerships
$0.30B
1.0%
The products that matter
sells movie tickets
movie admissions
~$2.9B · 60% of revenue
it generated roughly $2.9B in 2025, but attendance fell nearly 10%. if you own AMC, this is the operating tell that decides whether the recovery case is real.
core revenue
sells concessions
food & beverage
~$1.7B · 35% of revenue
this segment brings in roughly $1.7B and usually earns better dollars than ticket sales. when traffic weakens, the snack counter does not get to save you on its own.
margin support
rentals and other activity
other revenue
~$0.2B · 5% of revenue
at roughly $0.2B, this is too small to fix the thesis. you need the core theater business to work before this line matters.
too small
Key numbers
$7.6B
long-term debt
Debt this large against a roughly $577M market value means lenders matter more than shareholders right now.
$4.8B
annual revenue
AMC still does real business at scale, but scale without balance-sheet room can turn into expensive maintenance.
6.7%
operating margin
Operating margin -> money left after running the theatres -> so what: AMC has little room for a bad film slate or rising costs.
871
theatres owned
That footprint is why AMC still matters to studios and landlords, even with a damaged balance sheet.
Financial health
C+
strength
- balance sheet grade C+ — weak — may struggle to fund operations
- risk rank 5 — safer than 5% of stocks
- price stability 5 / 100
- long-term debt $7.6B (93% of capital)
C+ — balance sheet grade and long-term debt are flagged. this stock carries more risk than average.
Total return vs. market
Return history isn't available for AMC right now.
source: institutional data · return history unavailable
What just happened
missed estimates
AMC reported $4.8B in annual revenue, but the business still lost money with FY2024 EPS estimated at -$1.06.
Revenue grew 4.6% vs. prior year to $4.8B, according to SEC data, while quarterly EPS in the base data improved from deeper losses but stayed negative. Translation: more people came back, but not enough to outrun debt and fixed costs.
$4.8B
revenue
$1.06
eps
14.4%
gross margin
the number that mattered
$7.6B of long-term debt matters more than the revenue bounce, because leverage decides how much of any recovery actually reaches you.
source: company earnings report, 2026
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What could go wrong
the #1 risk is $7.6B of theater debt sitting ahead of AMC common equity.
med
debt has first claim on any recovery
Long-term debt is $7.6B, or 93% of capital, against a market cap of about $577M. In plain English: the enterprise can survive while the common stock still struggles to matter.
$7.6B sits senior to your equity claim. That gap is why the capital structure is the story.
med
dilution is not a past event
AMC raised $26.2M through share sales in february 2026. That amount does not solve the balance sheet, but it does show management will issue equity when it needs cash.
Your slice can keep shrinking before operating recovery reaches shareholders.
med
attendance is still the operating hinge
Admissions are roughly $2.9B, or 60% of revenue, and attendance fell nearly 10%. If traffic stays soft, ticket sales weaken and concession sales usually follow.
This exposes most of the $4.85B revenue base to the same customer behavior problem.
med
thin margins leave little room for misses
Gross margin is 14.4%, operating margin is 6.7%, and net margin is -13.04%. Those are not disaster numbers in isolation. They are fragile numbers when stacked on top of $7.6B in debt.
A small traffic miss or cost increase can move the equity a lot because there is not much cushion underneath it.
A slower recovery in attendance or another round of share issuance would hit common shareholders first, because your position sits behind $7.6B of debt and the company already tapped the equity market for $26.2M this year.
source: institutional data · regulatory filings · risk analysis
Pay attention to
catalyst
2026 film slate
this is the revenue setup in one card. if the release calendar does not bring people back to theaters, the attendance decline becomes the thesis, not the risk.
metric
attendance versus the nearly 10% decline
you do not need a perfect quarter. you do need proof that traffic is stabilizing, because admissions still drive about 60% of revenue.
risk
more share sales
AMC already raised $26.2M via share sales in february 2026. if cash needs keep showing up this way, your ownership gets thinner before the business fully improves.
trend
margin conversion from operating to net
6.7% operating margin with a -13.04% net margin tells you costs below the operating line still matter a lot. you want that gap closing, not staying permanent.
Analyst rankings
earnings predictability
25 / 100
this score is low. in human-speak: the business is hard to model because attendance, margins, and financing all move at once.
analyst target spread
$1.31–$3.15
that range is wide relative to a $1.53 stock price. the street agrees on the problem, not on how much equity value survives it.
source: institutional data
Institutional activity
institutional ownership data for AMC is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$2
current price
n/a
target midpoint · n/a from current
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