AD
Array Digital Infrastructure, Inc.
AD offers stronger valuation, but that advantage does not outweigh its weaker overall profile.
AMC
AMC Entertainment Holdings, Inc.
AMC has the edge over AD overall, supported by stronger modeled upside and stronger fundamentals.
AD Fundamentals
| Metric | Status |
|---|---|
| Under pressure | |
| Strong | |
| Weak | |
| Healthy |
AD's profitability and balance sheet are currently healthy, but its revenue and cash flow are under pressure.
AMC Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Stable | |
| Stable | |
| Under pressure |
AMC's revenue is currently healthy, and its profitability and cash flow are stable, but its balance sheet is under pressure.
AD PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Current | 3.7x | $27.33 | — |
| Cheap | 14x | $108 | +294% |
| Fair | 20x | $149 | +444% |
| Forward | 25x | $27.33 | — |
| Expensive | 78x | $577 | +2012% |
Historical ranges are pointers, not guarantees.
AD's PE is in its cheap range at 3.7x, but its recent earnings include one-off gains. Analysts expect earnings to fall, which would put today's price at 25x next year's earnings, in its expensive range.
AMC PE Valuation
AMC has no meaningful PE right now: it lost money over the past year.
AD Forward outlook
| Metric | Outlook |
|---|---|
| Strongly deteriorating | |
| Strong decline | |
| Decline | |
| -- | |
| Limited | |
| High |
Analysts expect AD's earnings and revenue to decline, though with profitability holding steady.
AMC Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Growth | |
| Strongly improving | |
| Limited | |
| Low |
Analysts expect AMC's losses to shrink, with revenue growing. However, they disagree widely on these estimates.
AD Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.08 | -85% |
| Q3 2026 | $7.44 | +3816% |
| Q2 2026 | $6.20 | +$6.49 |
| Q1 2026 | $2.41 | +$2.86 |
| Q4 2025 | $0.56 | +$1.02 |
| Q3 2025 | $0.19 | +$0.54 |
| Q2 2025 | -$0.29 | -135% |
| Q1 2025 | -$0.45 | -166% |
| Q4 2024 | -$0.46 | -173% |
AD has the edge over AMC on earnings quality, reporting a profit while its opponent remains loss making.
AMC Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$0.40 | +$0.94 |
| Q2 2026 | -$1.10 | -$0.28 |
| Q1 2026 | -$1.09 | -$0.18 |
| Q4 2025 | -$1.34 | -$0.28 |
| Q3 2025 | -$1.34 | +$0.29 |
| Q2 2025 | -$0.82 | +$0.67 |
| Q1 2025 | -$0.91 | +$0.38 |
| Q4 2024 | -$1.06 | +$1.31 |
AMC lost $0.40 per share over the past year, a smaller loss than the year before.
AD Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $53.9M | +14% |
| Q2 2026 | $54.1M | -94% |
| Q1 2026 | $52M | -94% |
| Q4 2025 | $60.3M | -94% |
| Q3 2025 | $47.1M | -95% |
| Q2 2025 | $916M | -1.2% |
| Q1 2025 | $891M | -6.2% |
| Q4 2024 | $971M | -2.9% |
AD's revenue is recovering but still below its 2022 peak: $54M last quarter, up 14% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -4.3% | +109 points |
| Q2 2026 | 738% | +735 points |
| Q1 2026 | 309% | +305 points |
| Q4 2025 | 14% | +15 points |
| Q3 2025 | -113% | -103 points |
| Q2 2025 | 3.8% | -0.1 points |
| Q1 2025 | 4.6% | -0.8 points |
| Q4 2024 | -0.9% | -3.1 points |
AD's operating margin was −4.3% last quarter, up 109 points from the same quarter a year ago, near the bottom of its range since 2019.
AMC Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1.7B | +32% |
| Q2 2026 | $1.6B | +14% |
| Q1 2026 | $1B | +21% |
| Q4 2025 | $1.3B | -1.4% |
| Q3 2025 | $1.3B | -3.6% |
| Q2 2025 | $1.4B | +36% |
| Q1 2025 | $862.5M | -9.3% |
| Q4 2024 | $1.3B | +18% |
AMC has the edge over AD on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 15% | +12 points |
| Q2 2026 | 15% | +8.3 points |
| Q1 2026 | -4.4% | +13 points |
| Q4 2025 | 0% | -0.3 points |
| Q3 2025 | 2.8% | -2.6 points |
| Q2 2025 | 6.6% | +11 points |
| Q1 2025 | -17% | -5.5 points |
| Q4 2024 | 0.4% | +14 points |
AMC has the edge over AD on profitability, with a higher operating margin.
AD Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$177M | -482% |
| Q2 2026 | -$48.6M | -119% |
| Q1 2026 | $10M | -89% |
| Q4 2025 | -$210.7M | -$194.7M |
| Q3 2025 | $46.3M | -60% |
| Q2 2025 | $250M | +42% |
| Q1 2025 | $88M | +26% |
| Q4 2024 | -$16M | -$9M |
AD's free cash flow was −$426M over the past year, against $368M the year before.
AMC Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $109.3M | +$190.4M |
| Q2 2026 | $190.1M | +114% |
| Q1 2026 | -$174.7M | +$242.3M |
| Q4 2025 | $43.3M | -62% |
| Q3 2025 | -$81.1M | +$11.1M |
| Q2 2025 | $88.9M | +$168.1M |
| Q1 2025 | -$417M | -$178.2M |
| Q4 2024 | $113.9M | +$263.8M |
AMC has the edge over AD on cash generation, producing positive trailing cash flow while its opponent burns cash.
AD Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | +13K shares |
| 1 year | -0.4% | -323K shares |
| 3 years | +0.6% | +523K shares |
| 5 years | -0.5% | -477K shares |
| Available history | -1.7% | -1.5M shares |
AD has the edge over AMC on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | — |
| Q1 2026 | — |
| Q4 2025 | — |
| Q3 2025 | $360,000 |
| Q2 2025 | — |
| Q1 2025 | $21M |
| Q4 2024 | $28M |
AD hasn't bought back shares in the past year.
AMC Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +24% | +175M shares |
| 1 year | +107% | +463M shares |
| 3 years | +767% | +793M shares |
| 5 years | +4063% | +875M shares |
AMC has 897M diluted shares, up 107% from a year ago.
AD Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 0.7x | Very low |
| Q2 2026 | 0.5x | Very low |
| Q1 2026 | 1.2x | Healthy |
| Q4 2025 | 1.5x | Healthy |
| Q3 2025 | 0.7x | Very low |
| Q2 2025 | 3.9x | Elevated |
| Q1 2025 | 4.2x | High |
| Q4 2024 | 4.2x | High |
AD has the edge over AMC on leverage, with a lower net debt burden relative to earnings.
AMC Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 4.0x | Elevated |
| Q2 2026 | 5.7x | High |
| Q1 2026 | 9.2x | High |
| Q4 2025 | 12.2x | High |
| Q3 2025 | 12.2x | High |
| Q2 2025 | 10.7x | High |
| Q1 2025 | 18.6x | High |
| Q4 2024 | 14.3x | High |
AMC's net debt is about 4.0 years of its operating earnings (EBITDA), down from 12 years a year ago.
AD Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 22.9 | Oversold |
| Stochastic | 11.1 | Oversold |
AD's weekly RSI is 23 (oversold) and its Stochastic is 11 (oversold).
AMC Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 67.3 | Neutral |
| Stochastic | 65.4 | Neutral |
AMC's weekly RSI is 67 (neutral) and its Stochastic is 65 (neutral).
AD PE vs Communication Services Sector
| Metric | AD | Sector median | Relative |
|---|---|---|---|
| PE | 3.7x | 16x | 78% below |
| PE % | 0 | 26 | 26 pts below |
AD is trading at 3.7x earnings, a 78% discount to the Communication Services sector's median of 16x, though its recent earnings include one-off gains.
AMC PE vs Communication Services Sector
AMC has no meaningful PE right now: it lost money over the past year.
AD Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $32.4 | 16% below |
| 20 week MA | $34.5 | 21% below |
| 50 week MA | $43.2 | 37% below |
| 100 week MA | $52.0 | 47% below |
| 200 week MA | $45.7 | 40% below |
AD is in a downtrend: it's below all five of its weekly moving averages, and 40% below its 200-week average.
AMC Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $3.01 | 11% above |
| 20 week MA | $2.64 | 27% above |
| 50 week MA | $2.01 | 66% above |
| 100 week MA | $2.53 | 32% above |
| 200 week MA | $10.9 | 69% below |
AMC has the edge over AD on trend strength, trading above more of its moving averages.
AD Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $35.0 | $30.0 | -14% |
| 2021 | $30.0 | $32.1 | +7% |
| 2022 | $32.1 | $20.6 | -36% |
| 2023 | $20.6 | $41.5 | +101% |
| 2024 | $41.5 | $63.7 | +53% |
| 2025 | $63.7 | $53.5 | -16% |
| 2026 YTD | $53.5 | $27.3 | -49% |
AD has finished lower in three of the last six years. It's down 49% so far in 2026.
AMC Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $36.5 | $12.6 | -66% |
| 2021 | $12.6 | $142.6 | +1036% |
| 2022 | $142.6 | $44.0 | -69% |
| 2023 | $44.0 | $6.12 | -86% |
| 2024 | $6.12 | $4.00 | -35% |
| 2025 | $4.00 | $1.69 | -58% |
| 2026 YTD | $1.69 | $3.34 | +98% |
AMC has the edge over AD on returns for 2026, with the stronger performance.