AMC
AMC Entertainment Holdings, Inc.
AMC's outlook is improving, though it still trails on the overall score.
WMG
Warner Music Group Corp.
WMG has the edge over AMC overall, supported by lower modeled downside and stronger valuation.
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.
WMG Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Healthy | |
| Stable |
WMG's revenue, profitability and cash flow are currently healthy, and its balance sheet is stable.
AMC PE Valuation
AMC has no meaningful PE right now: it lost money over the past year.
WMG PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 18x | $31.67 | — |
| Current | 25x | $31.67 | — |
| Cheap | 31x | $39.57 | +25% |
| Fair | 36x | $46.67 | +47% |
| Expensive | 44x | $57.23 | +81% |
Historical ranges are pointers, not guarantees.
WMG's PE is in its cheap range at 25x. If earnings grow as analysts expect, today's price would be 18x next year's earnings.
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.
WMG Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| High |
Analysts expect earnings and revenue growth for WMG, with profitability improving.
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.
WMG Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.72 | +33% |
| Q2 2026 | $1.29 | +126% |
| Q1 2026 | $0.87 | +1.2% |
| Q4 2025 | $0.59 | -39% |
| Q3 2025 | $0.70 | -15% |
| Q2 2025 | $0.57 | -45% |
| Q1 2025 | $0.86 | -16% |
| Q4 2024 | $0.97 | +6.6% |
| Q3 2024 | $0.82 | -3.5% |
WMG 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's operating margin was 15% last quarter, up 12 points from the same quarter a year ago, near the top of its range since 2019.
WMG Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $1.9B | +10% |
| Q1 2026 | $1.7B | +17% |
| Q4 2025 | $1.8B | +10% |
| Q3 2025 | $1.9B | +15% |
| Q2 2025 | $1.7B | +8.7% |
| Q1 2025 | $1.5B | -0.7% |
| Q4 2024 | $1.7B | -4.7% |
| Q3 2024 | $1.6B | +2.8% |
WMG's revenue has grown year over year for five quarters in a row: $1.9B last quarter, up 10% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 16% | +6.3 points |
| Q1 2026 | 16% | +4.3 points |
| Q4 2025 | 18% | +4.9 points |
| Q3 2025 | 7.7% | -1.1 points |
| Q2 2025 | 10% | -3.3 points |
| Q1 2025 | 11% | +3.4 points |
| Q4 2024 | 13% | -7.4 points |
| Q3 2024 | 8.8% | -4.6 points |
WMG has the edge over AMC on profitability, with a higher operating margin.
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 WMG on cash flow, with more consistent year-over-year improvement.
WMG Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $114M | +1529% |
| Q1 2026 | $107M | +$153M |
| Q4 2025 | $390M | +32% |
| Q3 2025 | $203M | -1.9% |
| Q2 2025 | $7M | -96% |
| Q1 2025 | -$46M | +$34M |
| Q4 2024 | $296M | +44% |
| Q3 2024 | $207M | -13% |
WMG generated $814M in free cash flow over the past year, up 75% from the year before.
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.
WMG Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +1% | +5.4M shares |
| 1 year | +0.6% | +3.2M shares |
| 3 years | +1.6% | +8.5M shares |
| 5 years | +2% | +10.1M shares |
| Available history | +4.5% | +22.4M shares |
WMG has the edge over AMC on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q2 2026 | $48M |
| Q1 2026 | $22M |
| Q4 2025 | $26M |
| Q3 2025 | $13M |
| Q2 2025 | $1M |
| Q1 2025 | $17M |
| Q4 2024 | $2M |
| Q3 2024 | — |
WMG spent $109M buying back its own shares over the past year, about five times what it spent 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.
WMG Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | 3.0x | Moderate |
| Q1 2026 | 3.6x | Elevated |
| Q4 2025 | 4.2x | High |
| Q3 2025 | 4.0x | Elevated |
| Q2 2025 | 4.3x | High |
| Q1 2025 | 3.5x | Elevated |
| Q4 2024 | 3.0x | Moderate |
| Q3 2024 | 3.3x | Elevated |
WMG 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).
WMG Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 60.0 | Neutral |
| Stochastic | 80.8 | Overbought |
WMG's weekly RSI is 60 (neutral) and its Stochastic is 81 (overbought).
AMC PE vs Communication Services Sector
AMC has no meaningful PE right now: it lost money over the past year.
WMG PE vs Communication Services Sector
| Metric | WMG | Sector median | Relative |
|---|---|---|---|
| PE | 25x | 16x | 49% above |
| PE % | 2 | 25 | 23 pts below |
WMG is trading at 25x earnings, a 49% premium to the Communication Services sector's median of 16x.
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.
WMG Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $29.8 | 6.2% above |
| 20 week MA | $28.5 | 11% above |
| 50 week MA | $28.9 | 9.6% above |
| 100 week MA | $29.9 | 6% above |
| 200 week MA | $30.8 | 2.9% above |
WMG 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 WMG on returns for 2026, with the stronger performance.
WMG Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $29.9 | $37.5 | +25% |
| 2021 | $37.5 | $43.5 | +16% |
| 2022 | $43.5 | $35.6 | -18% |
| 2023 | $35.6 | $35.8 | +0.5% |
| 2024 | $35.8 | $31.5 | -12% |
| 2025 | $31.5 | $30.0 | -4.8% |
| 2026 YTD | $30.0 | $31.7 | +5.7% |
WMG has finished lower in three of the last six years. It's up 5.7% so far in 2026.