AMC Networks (AMCX) financial statements
AMC Networks reported revenue of $2.3B in fiscal 2025, down 1.9% a year over 9 years.
Net income was $89M and the operating margin 5.8%, against 23.9% in 2016.
Free cash flow was $272M, and the company returned $18M in net buybacks.
The diluted share count fell 22% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from AMC Networks's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.8B | $2.8B | $3.0B | $3.1B | $2.8B | $3.1B | $3.1B | $2.7B | $2.4B | $2.3B |
| Cost of revenue | $1.3B | $1.3B | $1.4B | $1.5B | $1.4B | $1.4B | $1.5B | $1.3B | $1.1B | $1.1B |
| Gross profit | $1.5B | $1.5B | $1.5B | $1.6B | $1.4B | $1.6B | $1.6B | $1.4B | $1.3B | $1.2B |
| Selling, general and admin | $636M | $613M | $657M | $679M | $709M | $892M | $897M | $764M | $781M | $818M |
| Operating income | $658M | $722M | $727M | $625M | $443M | $490M | $87M | $388M | -$40M | $133M |
| Interest expense | $124M | $134M | $155M | $158M | $139M | $129M | $134M | $153M | $166M | $172M |
| Pre-tax income | $455M | $640M | $620M | $486M | $402M | $374M | -$30M | $296M | -$174M | $148M |
| Income tax | $165M | $151M | $156M | $78M | $145M | $94M | -$41M | $95M | $43M | $46M |
| Net income | $271M | $471M | $446M | $380M | $240M | $251M | $8M | $215M | -$227M | $89M |
| EPS (diluted) | $3.74 | $7.18 | $7.57 | $6.67 | $4.64 | $5.77 | $0.17 | $4.90 | -$5.10 | $1.66 |
| Diluted shares | 72M | 66M | 59M | 57M | 52M | 43M | 44M | 44M | 44M | 57M |
| Gross margin | 53.6% | 52.2% | 51.3% | 50.8% | 50.2% | 53.5% | 51.0% | 51.0% | 53.2% | 50.6% |
| Operating margin | 23.9% | 25.7% | 24.5% | 20.4% | 15.7% | 15.9% | 2.8% | 14.3% | -1.6% | 5.8% |
| Net margin | 9.8% | 16.8% | 15.0% | 12.4% | 8.5% | 8.1% | 0.2% | 7.9% | -9.4% | 3.9% |
Balance sheet
Fiscal years, from AMC Networks's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $481M | $559M | $555M | $816M | $889M | $892M | $930M | $571M | $785M | $502M |
| Receivables | $701M | $776M | $836M | $857M | $814M | $815M | $722M | $664M | $624M | $575M |
| Total current assets | $1.7B | $1.9B | $2.0B | $2.3B | $1.9B | $2.0B | $1.9B | $1.6B | $1.7B | $1.3B |
| Property, plant and equipment | $167M | $184M | $246M | $284M | $256M | $226M | $202M | $159M | $143M | $116M |
| Goodwill | $658M | $695M | $798M | $702M | $686M | $709M | $643M | $626M | $246M | $167M |
| Total assets | $4.5B | $5.0B | $5.3B | $5.6B | $5.2B | $5.7B | $5.6B | $5.0B | $4.4B | $3.9B |
| Total current liabilities | $954M | $744M | $797M | $804M | $878M | $1.1B | $1.2B | $943M | $703M | $768M |
| Long-term debt | $2.6B | $3.1B | $3.1B | $3.0B | $2.8B | $2.8B | $2.8B | $2.3B | $2.3B | $1.7B |
| Total liabilities | $4.3B | $4.7B | $4.6B | $4.6B | $4.3B | $4.6B | $4.5B | $3.7B | $3.4B | $2.9B |
| Shareholders' equity | -$30M | $135M | $317M | $666M | $617M | $851M | $807M | $1.0B | $856M | $982M |
| Net debt | $2.3B | $2.5B | $2.6B | $2.3B | $2.0B | $1.9B | $1.9B | $1.8B | $1.6B | $1.2B |
Cash flow
Fiscal years, from AMC Networks's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $514M | $386M | $607M | $484M | $749M | $143M | $182M | $204M | $376M | $306M |
| Capital spending | $79M | $80M | $90M | $92M | $47M | $43M | $44M | $35M | $45M | $33M |
| Free cash flow | $435M | $306M | $517M | $392M | $702M | $101M | $138M | $169M | $331M | $272M |
| Stock-based compensation | $39M | $54M | $61M | $64M | $53M | $48M | $30M | $26M | $26M | $25M |
| Share buybacks (net) | -$223M | -$434M | -$283M | -$71M | -$357M | $0 | $0 | $0 | $0 | -$18M |
| Net borrowing | $134M | $278M | $289,000 | -$21M | -$256M | -$30M | -$34M | -$458M | — | — |
| Free cash flow margin | 15.8% | 10.9% | 17.4% | 12.8% | 24.9% | 3.3% | 4.4% | 6.2% | 13.7% | 11.8% |
Every line, every quarterThe deep dive has fifteen-plus years of statements, quarterly results, charts and valuation models for AMCX.
Open AMCX in InvestinglyQuestions
What was AMC Networks's revenue in 2025?
$2.3B in fiscal 2025, from its 10-K filing.
How much free cash flow does AMC Networks generate?
$272M in fiscal 2025 (operating cash flow minus capital spending).
From AMC Networks's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.