AMC
AMC Entertainment Holdings, Inc.
AMC offers stronger modeled upside, but that advantage does not outweigh its weaker overall profile.
MAX
MediaAlpha, Inc.
MAX has the edge over AMC overall, supported by lower modeled downside.
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.
MAX Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Under pressure | |
| Healthy |
MAX's revenue, profitability and balance sheet are currently healthy, but its cash flow is under pressure.
AMC PE Valuation
AMC has no meaningful PE right now: it lost money over the past year.
MAX PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 8.1x | $14.77 | -0.3% |
| Current | 8.1x | $14.81 | — |
| Forward | 13x | $14.81 | — |
| Fair | 26x | $46.73 | +216% |
| Expensive | 64x | $116 | +685% |
Historical ranges are pointers, not guarantees.
MAX's PE is 8.1x, but its earnings don't support one, so it isn't a reliable read right now.
AMC Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Growth | |
| Strongly improving | |
| Limited | |
| Low |
AMC has the edge over MAX on the outlook, with more favorable profitability expectations.
MAX Forward outlook
| Metric | Outlook |
|---|---|
| Strongly deteriorating | |
| Growth | |
| Growth | |
| Stable | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for MAX, with profitability holding steady.
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.
MAX Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.17 | -36% |
| Q3 2026 | $1.82 | +$1.84 |
| Q2 2026 | $1.62 | +$1.73 |
| Q1 2026 | $0.64 | +121% |
| Q4 2025 | $0.39 | +26% |
| Q3 2025 | -$0.02 | -112% |
| Q2 2025 | -$0.11 | +$0.18 |
| Q1 2025 | $0.29 | +$0.97 |
| Q4 2024 | $0.31 | +$1.20 |
MAX has the edge over AMC on earnings quality, reporting a profit while its opponent remains loss making.
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's revenue is growing: $1.7B last quarter, up 32% from the same quarter a year ago.
| 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 MAX on profitability, with a higher operating margin.
MAX Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $375.9M | +23% |
| Q2 2026 | $316.9M | +26% |
| Q1 2026 | $310M | +17% |
| Q4 2025 | $291.2M | -3.2% |
| Q3 2025 | $306.5M | +18% |
| Q2 2025 | $251.6M | +41% |
| Q1 2025 | $264.3M | +109% |
| Q4 2024 | $300.6M | +157% |
MAX has the edge over AMC on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 7.7% | +1.2 points |
| Q2 2026 | 6.3% | +14 points |
| Q1 2026 | 7.2% | +7.2 points |
| Q4 2025 | 7.7% | +1.6 points |
| Q3 2025 | 6.4% | +0.4 points |
| Q2 2025 | -8% | -12 points |
| Q1 2025 | 0% | -1.8 points |
| Q4 2024 | 6.1% | +5.7 points |
MAX's operating margin was 7.7% last quarter, up 1.2 points from the same quarter a year ago.
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 MAX on cash flow, with more consistent year-over-year improvement.
MAX Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $21.5M | -8.8% |
| Q2 2026 | $41.8M | +64% |
| Q1 2026 | -$1.6M | -107% |
| Q4 2025 | -$7.5M | -152% |
| Q3 2025 | $23.6M | +194% |
| Q2 2025 | $25.5M | +19% |
| Q1 2025 | $23.6M | +1338% |
| Q4 2024 | $14.5M | +174% |
MAX still generates free cash flow, though less than at its 2026 peak: $54M over 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.
MAX Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +1.2% | +759K shares |
| 1 year | +11% | +6.2M shares |
| 3 years | +36% | +16.6M shares |
| 5 years | +2.7% | +1.6M shares |
MAX has the edge over AMC on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $9.2M |
| Q2 2026 | $20.6M |
| Q1 2026 | $20.3M |
| Q4 2025 | $14.4M |
| Q4 2023 | — |
| Q3 2023 | — |
| Q4 2022 | — |
| Q3 2022 | $1.6M |
MAX spent $64M buying back its own shares over the past year.
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.
MAX Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.6x | Healthy |
| Q2 2026 | 1.8x | Healthy |
| Q1 2026 | 3.0x | Moderate |
| Q4 2025 | 4.2x | High |
| Q3 2025 | 5.2x | High |
| Q2 2025 | 3.8x | Elevated |
| Q1 2025 | 2.1x | Moderate |
| Q4 2024 | 2.4x | Moderate |
MAX has the edge over AMC on leverage, with a lower net debt burden relative to earnings.
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).
MAX Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 64.2 | Neutral |
| Stochastic | 85.1 | Overbought |
MAX's weekly RSI is 64 (neutral) and its Stochastic is 85 (overbought).
AMC PE vs Communication Services Sector
AMC has no meaningful PE right now: it lost money over the past year.
MAX PE vs Communication Services Sector
| Metric | MAX | Sector median | Relative |
|---|---|---|---|
| PE | 8.1x | 16x | 51% below |
| PE % | 18 | 27 | 9 pts below |
MAX is trading at 8.1x earnings, a 51% discount to the Communication Services sector's median of 16x, though its earnings don't support one.
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 bounced recently, but its long-term trend is still down: it's above its 8-, 20-, 50- and 100-week averages, but 69% below its 200-week average.
MAX Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $12.0 | 23% above |
| 20 week MA | $12.5 | 19% above |
| 50 week MA | $11.0 | 34% above |
| 100 week MA | $10.9 | 36% above |
| 200 week MA | $12.1 | 22% above |
MAX has the edge over AMC on trend strength, trading above more of its moving averages.
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 MAX on returns for 2026, with the stronger performance.
MAX Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $33.8 | $45.0 | +33% |
| 2021 | $45.0 | $15.4 | -66% |
| 2022 | $15.4 | $9.97 | -35% |
| 2023 | $9.97 | $11.2 | +12% |
| 2024 | $11.2 | $11.1 | -0.1% |
| 2025 | $11.1 | $12.7 | +14% |
| 2026 YTD | $12.7 | $14.8 | +17% |
MAX has finished lower in three of the last six years. It's up 17% so far in 2026.