AMTM
Amentum Holdings, Inc.
AMTM's fundamentals are mixed: free cash flow more than tripled, but revenue fell 3.9%. At 27x earnings, it's trading below its usual 39x. Analysts expect earnings growth.
AMTM Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Healthy | |
| Under pressure |
AMTM's profitability and cash flow are currently healthy, and its revenue is stable, but its balance sheet is under pressure.
AMTM PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 8.6x | $22.15 | — |
| Cheap | 26x | $21.30 | -3.8% |
| Current | 27x | $22.15 | — |
| Fair | 39x | $32.14 | +45% |
| Expensive | 108x | $89.29 | +303% |
Historical ranges are pointers, not guarantees.
AMTM's PE is in its cheap range at 27x. If earnings grow as analysts expect, today's price would be 8.6x next year's earnings.
AMTM Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Growth | |
| Stable | |
| Improving | |
| Limited | |
| High |
Analysts expect AMTM's earnings to grow and its profitability to improve, with its revenue holding steady.
AMTM Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $2.58 | +211% |
| Q2 2026 | $0.83 | +$3.68 |
| Q1 2026 | $0.60 | +$3.66 |
| Q4 2025 | $0.40 | +$2.76 |
| Q3 2025 | $0.27 | +$1.96 |
| Q2 2025 | -$2.85 | -271% |
| Q1 2025 | -$3.06 | -280% |
| Q4 2024 | -$2.36 | -298% |
| Q3 2024 | -$1.69 | -349% |
AMTM has returned to profit: it earned $0.83 per share over the past year, after losing money the year before.
AMTM Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $3.5B | -2% |
| Q1 2026 | $3.5B | -0.4% |
| Q4 2025 | $3.2B | -5.2% |
| Q3 2025 | $3.9B | -7.5% |
| Q2 2025 | $3.6B | +66% |
| Q1 2025 | $3.5B | +145% |
| Q4 2024 | $3.4B | +151% |
| Q3 2024 | $4.2B | +189% |
AMTM's revenue fell from its 2024 peak and has held roughly level since: $3.5B last quarter, down 2% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 4.9% | +2 points |
| Q1 2026 | 4.3% | +1.2 points |
| Q4 2025 | 4.3% | +0.4 points |
| Q3 2025 | 3.4% | +2.8 points |
| Q2 2025 | 2.9% | -1.3 points |
| Q1 2025 | 3.1% | -3.2 points |
| Q4 2024 | 3.9% | -2.6 points |
| Q3 2024 | 0.6% | -6 points |
AMTM's operating margin was 4.9% last quarter, up 2 points from the same quarter a year ago.
AMTM Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $135M | +35% |
| Q1 2026 | $220M | +315% |
| Q4 2025 | -$142M | -239% |
| Q3 2025 | $261M | +$378.2M |
| Q2 2025 | $100M | -58% |
| Q1 2025 | $53M | +2550% |
| Q4 2024 | $102M | +$187M |
| Q3 2024 | -$117.2M | -218% |
AMTM generated $474M in free cash flow over the past year, about three times what it generated the year before.
AMTM Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -- |
| 1 year | +0.8% | +2M shares |
| 3 years | +0.7% | +1.7M shares |
AMTM has 245M diluted shares, up 0.8% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2024 | — |
| Q2 2024 | — |
| Q1 2024 | — |
| Q4 2023 | — |
| Q3 2023 | — |
| Q2 2023 | — |
| Q1 2023 | — |
| Q4 2022 | — |
AMTM Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | 3.3x | Elevated |
| Q1 2026 | 3.5x | Elevated |
| Q4 2025 | 3.8x | Elevated |
| Q3 2025 | 3.5x | Elevated |
| Q2 2025 | 4.4x | High |
| Q1 2025 | 5.4x | High |
| Q4 2024 | 6.6x | High |
| Q3 2024 | 9.4x | High |
AMTM's net debt is about 3.3 years of its operating earnings (EBITDA), down from 4.4 years a year ago.
AMTM Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 51.2 | Neutral |
| Stochastic | 54.9 | Neutral |
AMTM's weekly RSI is 51 (neutral) and its Stochastic is 55 (neutral).
AMTM PE vs Industrials Sector
| Metric | AMTM | Sector median | Relative |
|---|---|---|---|
| PE | 27x | 24x | 11% above |
| PE % | 26 | 32 | 6 pts below |
AMTM is trading at 27x earnings, a 11% premium to the Industrials sector's median of 24x.
AMTM Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $20.4 | 8.6% above |
| 20 week MA | $20.9 | 6% above |
| 50 week MA | $25.2 | 12% below |
| 100 week MA | $23.7 | 6.5% below |
AMTM has bounced recently, but its long-term trend is still down: it's above its 8- and 20-week averages, but 6.5% below its 100-week average.
AMTM Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2024 | $25.7 | $20.5 | -20% |
| 2025 | $20.5 | $29.7 | +45% |
| 2026 YTD | $29.7 | $22.2 | -25% |
AMTM has finished lower in one of the last two years. It's down 25% so far in 2026.