AMC Global Media Inc.
AMCXdata completeness 100%17 fiscal years on fileData notes: no data for concept 'investmentsAtFairValue'; no data for concept 'netInvestmentIncome'; no data for concept 'gainsOnRealEstateSales'; no data for concept 'dividendsPaid'
AMC Global Media Inc. earns about 3% on invested capital, below its ~9% cost of capital, but has diluted owners by 30% over 5 years — no moat visible in the numbers. The estimate methods put fair value between $16.3 and $231.89 a share.Whether it’s worth owning at today’s price is the last question — and yours to answer, below.
| Figure | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|
| Revenue | $3.08B1 | $3.1B2 | $2.71B3 | $2.42B3 | $2.31B3 |
| Net income | $250.6M4 | $7.59M5 | $215.5M6 | −$226.5M6 | $89.4M6 |
| Operating cash flow | $143.5M7 | $181.8M8 | $203.9M9 | $375.6M9 | $305.7M9 |
| Capital expenditure | $42.6M10 | $44.3M11 | $35.2M12 | $44.8M12 | $33.3M12 |
| Free cash flow (derived) | $100.9M7 | $137.6M8 | $168.7M9 | $330.8M9 | $272.4M9 |
| Total debt | $5.71B13 | $5.62B14 | $4.72B15 | $4.67B16 | $3.5B16 |
| Cash & equivalents | $892.2M17 | $930M18 | $570.6M19 | $784.6M20 | $502.4M20 |
| Diluted shares | 43.4M | 43.7M | 44.0M | 44.4M | 56.6M |
Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom).
10 shares is a claim on $173.51 of net worth that earned you $15.8 and generated $48.13 of cash last year, against $619.29 of debt.
It earned about 3% on invested capital against a ~9% cost of capital — below the cost of funding. The numbers show no moat.
seeing a moat in the numbers →Share count is up 30% over 5 years — owners have been diluted. Worth asking what they got for it. Total debt has fallen 39% — deleveraging.
reading capital allocation →Signals, not verdicts — read from the filings above. Numbers don’t prove a moat; they show its footprint. You decide.
The 3 estimate methods that apply put fair value between $16.3 and $231.89 a share. They rest on different assumptions, so where they diverge is the story; the Graham Number is a stricter floor, not a target.
assumptions (10)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- terminalGrowth2.5%
- projectionYears10
- fcfGrowth20.0%
- fcfBase$272.4M
assumptions (10)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- terminalGrowth2.5%
- projectionYears5
- fcfGrowth20.0%
- fcfBase$272.4M
assumptions (8)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- normalizedEarnings$89.4M
- growthAssumed0.0%
assumptions (1)
- grahamMultiplier2250.0%
Different models answer different questions — which to trust when →
| Bear | 0.0% | $15.31 |
| Base | 20.0% | $102.87 |
| Bull | 20.0% | $102.87 |
Bear/base/bull growth = 0% / filed history / history + 5pp. Type a price to see the return each case implies.
Default growth 20.0%= this company’s own filed history (median-to-median FCF CAGR, clamped 0–20%). Your adjustments are recorded anonymously. They become the “what do owners actually believe” dataset.
- 10-K · period ending 2021-12-31 · accession 0001514991-24-000007 (RevenueFromContractWithCustomerExcludingAssessedTax)
- 10-K · period ending 2022-12-31 · accession 0001514991-25-000009 (RevenueFromContractWithCustomerExcludingAssessedTax)
- 10-K · period ending 2023-12-31 · accession 0001514991-26-000011 (RevenueFromContractWithCustomerExcludingAssessedTax)
- 10-K · period ending 2021-12-31 · accession 0001514991-24-000007 (NetIncomeLoss)
- 10-K · period ending 2022-12-31 · accession 0001514991-25-000009 (NetIncomeLoss)
- 10-K · period ending 2023-12-31 · accession 0001514991-26-000011 (NetIncomeLoss)
- 10-K · period ending 2021-12-31 · accession 0001514991-24-000007 (NetCashProvidedByUsedInOperatingActivities)
- 10-K · period ending 2022-12-31 · accession 0001514991-25-000009 (NetCashProvidedByUsedInOperatingActivities)
- 10-K · period ending 2023-12-31 · accession 0001514991-26-000011 (NetCashProvidedByUsedInOperatingActivities)
- 10-K · period ending 2021-12-31 · accession 0001514991-24-000007 (PaymentsToAcquirePropertyPlantAndEquipment)
- 10-K · period ending 2022-12-31 · accession 0001514991-25-000009 (PaymentsToAcquirePropertyPlantAndEquipment)
- 10-K · period ending 2023-12-31 · accession 0001514991-26-000011 (PaymentsToAcquirePropertyPlantAndEquipment)
- 10-K · period ending 2021-12-31 · accession 0001514991-23-000009 (LongTermDebtNoncurrent)
- 10-K · period ending 2022-12-31 · accession 0001514991-24-000007 (LongTermDebtNoncurrent)
- 10-K · period ending 2023-12-31 · accession 0001514991-25-000009 (LongTermDebtNoncurrent)
- 10-K · period ending 2024-12-31 · accession 0001514991-26-000011 (LongTermDebtNoncurrent)
- 10-K · period ending 2021-12-31 · accession 0001514991-25-000009 (CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents)
- 10-K · period ending 2022-12-31 · accession 0001514991-24-000007 (CashAndCashEquivalentsAtCarryingValue)
- 10-K · period ending 2023-12-31 · accession 0001514991-25-000009 (CashAndCashEquivalentsAtCarryingValue)
- 10-K · period ending 2024-12-31 · accession 0001514991-26-000011 (CashAndCashEquivalentsAtCarryingValue)