AMC, Cinemark, Marcus, Imax: How Do The Cash Balances Of Top Movie Theater Chains Compare?

The big news in the movie theater market continues to be the rise in the valuation of AMC Entertainment Holdings AMC. The company is seeing its share price rise due to increased interest from retail traders — and AMC is also raising money to short up its balance sheet.

Here's a look at the balance sheets of AMC and other top U.S. movie theater companies. 

AMC Entertainment: AMC reported first-quarter earnings on May 6. At the time the company had $813.1 million in cash.

AMC reported it had raised $2.9 billion in debt and equity capital in the 13-month period through the start of May.

“We have made well more than $4 billion of progress from our implementing a myriad of capital actions to help us make it through this global storm.”

In April, AMC launched an at-the-market equity program to sell up to 43 million shares of Class A common stock. The company said it had sold 15.5 million shares and raised $153 million as of May 5 under this program.

Earlier this week, AMC sold $230.5 million in shares in a private placement with Mudrick Capital.

That news was followed by an offering of 11.5 million shares on Thursday. The newest offering could be valued at over $700 million and will see AMC sell shares “from time to time via its banks,” according to the Wall Street Journal.

AMC has said it will use recent cash raised for paying down debt and buying additional movie theaters.

“Watch out naysayers, $AMC is going to play on offense again,” Aron said earlier this week. The company’s CEO referred to the recent share offerings as smart raising of cash to grow the company, rather than mindless dilution.

The company reported first-quarter revenue of $148.3 million, down 84% year-over-year. AMC has 593 theaters in the U.S. and an additional 357 international theaters. AMC has over 10,500 movie screens worldwide.

AMC shares have traded between $1.91 and $72.62 over the last 52 weeks, rising over 1,000% in 2021.

The stock ended Thursday's session down 17.92% at $51.34. 

See Also: How To Buy AMC Stock 

Cinemark: Movie theater company Cinemark Holdings Inc CNK reported first-quarter revenue of $114.4 million, down from last year’s comparable $543.6 million. The company ended the first quarter with $512.8 million in cash.

Cinemark has 523 movie theaters and 5,872 screens in 42 states and several international markets. Cinemark shares dropped 7.72% Thursday, closing at $23.07. 

The stock has traded between $7.56 and $27.84 over the last 52 weeks.

Imax Corporation: Premium movie theater operator Imax Corp IMAX reported full fiscal year revenue of $137 million for 2020, down 65% year-over-year.

The company ended 2020 with 1,650 theaters in 84 countries and a backlog of 527 additional theaters.

Imax ended the last fiscal year with cash of $317 million.

Imax shares fell 0.27% Thursday to $21.93. 

Shares have traded between $10.31 and $25.05 over the last 52 weeks. 

Marcus Corp: The fourth-largest U.S. movie theater operator is Marcus Corp MCS, which owns 91 locations and 1,110 screens in 17 U.S. states. Marcus is also the owner of a hotel/resort business with 19 properties in eight states.

Marcus Corp reported revenue of $50.8 million for the recent first quarter ending April 1. The figure was down sharply from last year’s comparable $159.5 million.

The company reported cash of $213 million at the end of the first quarter.

“Our significant liquidity, combined with the receipt of expected income tax refunds and proceeds from the sale of surplus real estate, positions us to continue to meet our obligations as they come due and continue to sustain operations throughout fiscal 2021 and into 2022,” Marcus CFO Douglas Neis said.

Marcus has a market capitalization of $627 million. The company's shares have traded between $6.84 and $24.71 over the last 52 weeks. The stock closed at $22.32 Thursday, down 1.33%.