AMC
AMC Entertainment Holdings, Inc.
AMC has the edge over NCMI overall, supported by stronger fundamentals and stronger modeled upside.
NCMI
National CineMedia, Inc.
NCMI has lower modeled downside risk, despite its lower overall score.
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.
NCMI Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Weak | |
| Stable | |
| Strong |
NCMI's balance sheet is currently strong, and its revenue and cash flow are stable, but its profitability is weak.
AMC PE Valuation
AMC has no meaningful PE right now: it lost money over the past year.
NCMI PE Valuation
NCMI has no meaningful PE right now: it lost money over the past year.
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.
NCMI Forward outlook
There aren't enough analyst estimates for NCMI to show an outlook.
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.
NCMI Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$0.30 | -$0.15 |
| Q2 2026 | -$0.10 | +$0.11 |
| Q1 2026 | -$0.10 | +$0.09 |
| Q4 2025 | -$0.11 | +$0.12 |
| Q3 2023 | $31.89 | +$35.09 |
| Q2 2023 | $27.90 | +$31.90 |
| Q1 2023 | -$3.50 | +$3.20 |
| Q4 2022 | -$3.50 | +$2.60 |
NCMI has the edge over AMC on earnings, with more consistent year-over-year improvement.
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 NCMI 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 NCMI on profitability, with a higher operating margin.
NCMI Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $61.4M | -3.2% |
| Q2 2026 | $58.4M | +13% |
| Q1 2026 | $34M | -2.6% |
| Q4 2025 | $93.2M | +8% |
| Q3 2025 | $63.4M | +1.6% |
| Q2 2025 | $51.8M | -5.3% |
| Q1 2025 | $34.9M | -6.7% |
| Q4 2024 | $86.3M | -5% |
NCMI's revenue is growing: $61M last quarter, down 3.2% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -35% | -32 points |
| Q2 2026 | -22% | +1.3 points |
| Q1 2026 | -79% | -11 points |
| Q4 2025 | 26% | +2.5 points |
| Q3 2025 | -2.8% | +9.2 points |
| Q2 2025 | -23% | -6.2 points |
| Q1 2025 | -68% | -7.8 points |
| Q4 2024 | 23% | +0.6 points |
NCMI's operating margin was −35% last quarter, down 32 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 NCMI on cash flow, with more consistent year-over-year improvement.
NCMI Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$3.3M | -$1.3M |
| Q2 2026 | -$2.2M | +$4.4M |
| Q1 2026 | $17.8M | +236% |
| Q4 2025 | $6.1M | -78% |
| Q3 2025 | -$2M | +$600K |
| Q2 2025 | -$6.6M | -203% |
| Q1 2025 | $5.3M | -77% |
| Q4 2024 | $28.1M | +101% |
NCMI usually generates cash, though not every quarter: the latest was −$3M, but it generated $18M 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.
NCMI Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.4% | +355K shares |
| 1 year | -0.3% | -260K shares |
| 3 years | +440% | +76.6M shares |
| 5 years | +1098% | +86.2M shares |
| Available history | +1109% | +86.3M shares |
NCMI has the edge over AMC on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | $200,000 |
| Q1 2026 | $1M |
| Q4 2025 | $3.3M |
| Q3 2025 | — |
| Q2 2025 | $9.9M |
| Q1 2025 | $8.8M |
| Q4 2024 | $2M |
NCMI spent $5M buying back its own shares over the past year, down 78% from the year before.
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.
NCMI Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -11.5x | Net Cash |
| Q2 2026 | -1.6x | Net Cash |
| Q1 2026 | -1.8x | Net Cash |
| Q4 2025 | -1.0x | Net Cash |
| Q3 2025 | -1.4x | Net Cash |
| Q2 2025 | -2.1x | Net Cash |
| Q1 2025 | -2.8x | Net Cash |
| Q4 2024 | -2.9x | Net Cash |
NCMI 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).
NCMI Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 29.4 | Oversold |
| Stochastic | 5.9 | Oversold |
NCMI's weekly RSI is 29 (oversold) and its Stochastic is 6 (oversold).
AMC PE vs Communication Services Sector
AMC has no meaningful PE right now: it lost money over the past year.
NCMI PE vs Communication Services Sector
| Metric | NCMI | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 16x | — |
NCMI has no meaningful PE right now: it lost money over the past year.
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 NCMI on trend strength, trading above more of its moving averages.
NCMI Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $1.92 | 11% below |
| 20 week MA | $2.69 | 37% below |
| 50 week MA | $3.19 | 47% below |
| 100 week MA | $4.24 | 60% below |
| 200 week MA | $4.33 | 61% below |
NCMI is in a downtrend: it's below all five of its weekly moving averages, and 61% below its 200-week average.
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 NCMI on returns for 2026, with the stronger performance.
NCMI Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $73.0 | $37.7 | -48% |
| 2021 | $37.7 | $28.6 | -24% |
| 2022 | $28.6 | $2.75 | -90% |
| 2023 | $2.75 | $4.14 | +51% |
| 2024 | $4.14 | $6.61 | +60% |
| 2025 | $6.61 | $3.92 | -41% |
| 2026 YTD | $3.92 | $1.70 | -57% |
NCMI has finished lower in four of the last six years. It's down 57% so far in 2026.