Amc Networks Inc.

Telecommunications
Cable & Other Pay Television Services
www.amcnetworks.com

Earnings Score
Moat Score
Safety Score

Market Cap $423.79M
PE 19
Debt $2.39B
Cash $816.38M
EV $1.99B
FCF $359.22M

Earnings

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Sales & Net Margins

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Earnings	$22.08M
EBIT	$203.18M
ROE	2%
ROA	4%
FCF	$359.22M
Equity	$1.15B
Growth Stability	3%
PE	19.2
PEG	-0.64
PB	0.37
P/FCF	1.18
P/S	0.17
Price/Cash	1.93
Debt/Equity	2.08
Debt/FCF	6.64
Net Margins	3%
Gross Margins	51%
Op. Margins	8%
Earnings CAGR	-17%
Sales Growth YoY	-6%
Sales Growth QoQ	-4%
Sales CAGR	0%
FCF CAGR	-8%
Equity CAGR	39%
Earnings Stability	0.27
Earnings Growth YoY	-35%
Earnings Growth QoQ	-242%

Earnings CAGR 5Y	-30%
Sales CAGR 5Y	-2%
FCF CAGR 5Y	-16%
Equity CAGR 5Y	13%
Earnings CAGR 3Y	-8%
Sales CAGR 3Y	-8%
FCF CAGR 3Y	97%
Equity CAGR 3Y	7%
Market Cap	$423.79M
Revenue	$2.50B
Assets	$4.83B
Total Debt	$2.39B
Cash	$816.38M
Shares Outstanding	44.24M
EV	1.99B
Earnings Score	4%
Moat Score	46%
Safety Score	46%
Final Score	32%
Working Capital	960.22M
Current Ratio	2.32
Gross Profit	$1.27B
Shares Growth 3y	1%
Equity Growth QoQ	6%
Equity Growth YoY	6%

Assets & ROA

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Stockholders Equity & ROE

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AMC Networks owns several cable networks, including flagship AMC, WE tv, BBC America, IFC, and SundanceTV. AMC, the most widely distributed channel, reaches more than 78 million pay-TV households in the U.S. Over the last decade, AMC shifted its focus to original scripted programming from classic movies. WE tv targets a female audience and reaches roughly 76 million households. IFC mainly shows independent films and alternative comedy series. AMC also operates a number of niche streaming platforms including Acorn (focused on British shows) and Shudder (focused on horror programming). The firm launched AMC+, a streaming platform for its own content in 2020.

SEC Filings

Direct access to Amc Networks Inc. (AMCX) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Amc Networks Inc. compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Amc Networks Inc. compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR -17%

Stability 27%

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Amc Networks Inc. Discounted Cash Flow

Fully customizable DCF calculator online for Amc Networks Inc..

Years

Calculation mode

= $2.2B

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$359M	$331M	$305M	$281M	$259M	$239M	$220M	$203M	$187M	$173M	$159M	$1.6B
DCF		$301M	$252M	$211M	$177M	$148M	$124M	$104M	$87M	$73M	$61M	$613M
Value	$2.2B

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Net Margins	12%	14%	10%	17%	15%	12%	9%	8%	0%	7%	3%
ROA	-	17%	15%	14%	14%	11%	8%	9%	2%	8%	4%
ROE	-	-4K%	-16K%	287%	129%	55%	37%	28%	1%	19%	2%

Bad Net Margins (3.18%)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Debt over FCF	-	9.46	7.08	10.3	6.14	8.13	4.2	28.83	20.9	14.52	6.64
Debt over Equity	-8.11	-330.4	-1.87K	19.21	9.19	4.61	4.59	3.22	3.37	2.28	2.08
Growth Stability	-	-	-	100%	100%	96%	55%	70%	3%	100%	3%

Bad Debt/FCF ratio (6.64)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Bad Debt/Equity ratio (2.08)

The company is overleveraged and has a bad balance between equity and debt.

Bad Graham’s Stability (3%)

The company has a bad stability in its earnings, which is a sign of a bad competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2014	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	CAGR 5Y
Revenue YoY growth	-	19%	7%	2%	6%	3%	-8%	9%	1%	-12%	-2%
Earnings YoY growth	-	41%	-26%	74%	-5%	-15%	-37%	4%	-97%	3K%	-30%
Equity YoY growth	-	-98%	-81%	-10K%	111%	100%	-7%	40%	-5%	26%	13%
FCF YoY growth	-	-10%	44%	-30%	69%	-24%	79%	-86%	36%	23%	-16%