AMC Global Media
AMCX on Nasdaq. AMC Networks sells television shows and films to viewers and streaming services. Market value $194m.
Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to December 2025.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
See Media & telecom stocks that passed both tests
This is not advice. Check the numbers below.
For every $100 of what the whole company costs, it produced $30.66 of spare cash in the past 12 months. A savings account pays about $4.
You pay 35.4 years of operating profit for the business. The average large US company costs around 18.
Each dollar kept in the business earns 5 cents a year. Above 10 is good.
Quality score: 45 of 100. Price score: 33 of 100. Our list needs 70 on quality and 60 on price.
$10.98 a share, 70% above its 1-year low
Over the past year the price has ranged from $6.47 to $12.93.
Pays no dividend
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
Spare cash swings from quarter to quarter here: $191 million in the past 12 months, $272 million in the year to December 2025.
| Revenue | |||||
| Revenue | $3.1bn | $3.1bn | $2.7bn | $2.4bn | $2.3bn |
| Operating margin | |||||
| Operating margin | 15.9% | 2.8% | 14.3% | -1.6% | 5.8% |
| Debt to equity | |||||
| Debt to equity | 3.37 | 3.51 | 2.27 | 2.75 | 1.80 |
| Shares outstanding | |||||
| Shares outstanding | 0.04bn | 0.04bn | 0.04bn | 0.04bn | 0.06bn |
Health checks
- Free cash flow positive5 of 5 years
- Accounting looks honest (Beneish)Nothing unusual
- Financial strength (Piotroski)6 of 8 checks we could run
- Profit backed by cash (accruals)Yes
- Debt1.80× equity
- Revenue growth, five yearsShrinking, 3.9% a year
- Buying back its own sharesNo, 30% more shares since 2021
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $547 million last quarter, down 9% on a year ago.
- A loss of $22 million, after a profit of $50 million a year ago.
- It keeps 2 cents of each $1 of sales as operating profit, after losing 1 cents a year earlier.
- Spare cash over the past 12 months: $191 million, down from $281 million.
- 24% fewer shares than a year ago. Each share owns a bit more of the company.
- Debt is $1.2 billion more than cash, down from $1.4 billion a year ago.
- Sales did not grow on a year ago in any of the last 4 quarters.
| Quarter to | Amount |
|---|---|
| September 2024 | $600m |
| December 2024 | $599m |
| March 2025 | $555m |
| June 2025 | $600m |
| September 2025 | $562m |
| December 2025 | $595m |
| March 2026 | $542m |
| June 2026 | $547m |
| Quarter to | Amount |
|---|---|
| September 2024 | $41m |
| December 2024 | -$284m |
| March 2025 | $18m |
| June 2025 | $50m |
| September 2025 | $77m |
| December 2025 | -$55m |
| March 2026 | -$19m |
| June 2026 | -$22m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 11 February 2026
- Next quarterly (estimated, 10-Q)
- 29 October 2026
Who owns it
3 long-term investors we follow own it, unchanged from 3 last quarter. 177 funds in all.
- GAMCO InvestorsMario Gabelli
- Value
- $5m
- Share of fund
- <0.1%
- Royce & AssociatesChuck Royce
- Value
- $124,191
- Share of fund
- <0.1%
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| LSV Asset ManagementJosef Lakonishok | $6m | <0.1% | Added |
| GAMCO InvestorsMario Gabelli | $5m | <0.1% | |
| Royce & AssociatesChuck Royce | $124,191 | <0.1% |
Largest holders overall
- BlackRock$38mAdded
- Allspring Global Investments Holdings$19mAdded
- CastleKnight Management LP$18mAdded
- American Century Companies$17mAdded
- Rwwm$14mCut
- Vanguard Capital Management$14m
- Charles Schwab Investment Management$13mCut
- Dimensional Fund Advisors LP$13mAdded
- JPMorgan Chase$12m
- Geode Capital Management$11mAdded
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
10 investors own more than 5%.
- Mary S. Dolan, as Trustee of certain trusts as described hereinInsider or founderat least 17.8%+1.1 pts(filed with 37 related holders)Since 8 September 2025
What they said
The disclosure in Item 4 is hereby amended by adding the following at the end thereof: The information contained in Item 3 of this Amendment No. 16 is incorporated by reference.
Read the filing - Kathleen M. Dolan, individually and as Trustee of certain trusts described hereinInsider or founderat least 16.7%(filed with 38 related holders)Since 28 December 2024
What they said
The disclosure in Item 4 is hereby amended by adding the following to the end thereof: Charles F. Dolan passed away on December 28, 2024. As a result, as described in Exhibit A to Amendment No. 5, (i) each child of Charles F. Dolan has the power to appoint additional or…
Read the filing - BlackRock, Inc.Passive investor7.8%−2.3 ptsSince 31 March 2025
- Barclays PLCPassive investor5.8%−1.1 ptsSince 31 March 2025
- Allspring Global Investments Holdings, LLCPassive investor5.5%Since 30 June 2026
- CastleKnight Master Fund LPPassive investorat least 5.4%(filed with 5 related holders)Since 19 May 2026
- American Century Investment Management, Inc.Passive investorat least 5.2%(filed with 2 related holders)Since 30 June 2026
- Dimensional Fund Advisors LPPassive investor5.0%Since 31 March 2025
- RWWM, Inc.Passive investorat least 4.8%−0.6 pts(filed with 2 related holders)Since 31 December 2025
- Millennium Management LLCPassive investorat least 3.1%(filed with 2 related holders)Since 31 December 2024
- CHARLES SCHWAB INVESTMENT MANAGEMENT INCPassive investorSold down below 5%Since 31 March 2026
- Kenneth GriffinPassive investorSold down below 5%Since 31 December 2024
- The Vanguard GroupPassive investorSold down below 5%Since 13 March 2026
| Holder | Stake | Since | |
|---|---|---|---|
Mary S. Dolan, as Trustee of certain trusts as described herein Insider or founder | at least 17.8%+1.1 pts (filed with 37 related holders) | 8 September 2025 | What they saidThe disclosure in Item 4 is hereby amended by adding the following at the end thereof: The information contained in Item 3 of this Amendment No. 16 is incorporated by reference. Read the filing |
Kathleen M. Dolan, individually and as Trustee of certain trusts described herein Insider or founder | at least 16.7% (filed with 38 related holders) | 28 December 2024 | What they saidThe disclosure in Item 4 is hereby amended by adding the following to the end thereof: Charles F. Dolan passed away on December 28, 2024. As a result, as described in Exhibit A to Amendment No. 5, (i) each child of Charles F. Dolan has the power to appoint additional or… Read the filing |
BlackRock, Inc. Passive investor | 7.8%−2.3 pts | 31 March 2025 | |
Barclays PLC Passive investor | 5.8%−1.1 pts | 31 March 2025 | |
Allspring Global Investments Holdings, LLC Passive investor | 5.5% | 30 June 2026 | |
CastleKnight Master Fund LP Passive investor | at least 5.4% (filed with 5 related holders) | 19 May 2026 | |
American Century Investment Management, Inc. Passive investor | at least 5.2% (filed with 2 related holders) | 30 June 2026 | |
Dimensional Fund Advisors LP Passive investor | 5.0% | 31 March 2025 | |
RWWM, Inc. Passive investor | at least 4.8%−0.6 pts (filed with 2 related holders) | 31 December 2025 | |
Millennium Management LLC Passive investor | at least 3.1% (filed with 2 related holders) | 31 December 2024 | |
CHARLES SCHWAB INVESTMENT MANAGEMENT INC Passive investor | Sold down below 5% | 31 March 2026 | |
Kenneth Griffin Passive investor | Sold down below 5% | 31 December 2024 | |
The Vanguard Group Passive investor | Sold down below 5% | 13 March 2026 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
No insider bought shares on the open market in the last 12 months. 1 sold $179,041.
- Sherin Michael J. IIIEVP & Chief Accounting OfficerSold
- Date
- 14 September 2026
- Shares
- 10,648
- Price
- $12.35
- Value
- $131,545
- Sherin Michael J. IIIEVP & Chief Accounting OfficerSold
- Date
- 10 March 2026
- Shares
- 5,963
- Price
- $7.96
- Value
- $47,495
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 14 September 2026 | Sherin Michael J. III EVP & Chief Accounting Officer | Sold | 10,648 | $12.35 | $131,545 |
| 10 March 2026 | Sherin Michael J. III EVP & Chief Accounting Officer | Sold | 5,963 | $7.96 | $47,495 |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
Warning signs in its filings
Problems the company itself reported to the SEC, in its own words.
None of the warning signs we check for were found.
We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.
We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 11 Feb 2026, plus the 10-Q filed 30 Jul 2026 and 11 later 8-Ks.
A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.
What could go wrong
- Sales have shrunk: 3.9% a year.
- It isn't cheap on profits: 35.4× operating profit.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.