AMC Global Media Inc.

AI-generated fair value estimate for this company.

Method: 10-year unlevered FCF DCF, declining-business case. Base FCF $190.5M (TTM). FCF declines -1%/-1%/-2%/-2%/-3% (yrs1-5) as linear-TV erosion is only partly offset by streaming (12.4M subs) and licensing, then -3%/-4%/-4%/-5%/-5% (yrs6-10) as decline accelerates; 11.5% discount rate (high leverage/secular risk); -0.5% terminal growth (perpetual decline). PV(FCF) ~$1.00B plus PV(terminal) ~$0.39B equals EV ~$1.39B. Net debt $1.29B (total debt $1.75B, cash ~$0.46B), nearly all of EV. Equity value ~$101M divided by 41.25M diluted shares.

Reasoning: AMC Networks is a structurally shrinking linear-cable business with high leverage relative to its FCF; a conservative DCF assuming continued, accelerating decline shows the debt consumes most of enterprise value, leaving a thin equity cushion well below the current quote.