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American Well Corporation

AMWL Healthcare Health Information Services

American Well Corporation’s revenue for fiscal 2025 (year ended December 2025) was $249.3 million, down 1.98% from fiscal 2024.

Revenue
−13.0%
EPS
+67.9%
Free cash flow
+22.0%

Quarter to September 2026, against a year earlier

11.94 0.17 −1.40%
Market cap
$208.5M
P/E
0.0×
Fwd P/E
−5.1×
Dividend yield
—
F-score
6/9
Altman Z
−7.95
Beneish M
−3.29
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Bought, $m 0.00
Sold, $m 1.04
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — 1 — — — — — —
Sell 1 3 — 4 3 — 4 4 — 3 4 —
Insider Ownership 19.28%

Capital & Financial Ratios $m

Size
Market Cap 208.54
Revenue ttm 211.23
Net income ttm (56.05)
Free cash flow ttm (27.92)
Net debt Q (181.58)
Valuation
P/E 0.00
Forward P/E (5.05) (negative: loss-making)
Price / sales 0.98
Forward P/S Powerpack
Price / FCF 0.00
Price / book 0.92
Financial health
Current ratio Q 3.01 (at or above 1.5: strong)
Debt / equity Q 0.00 (at or below 0.5: strong)
Interest coverage Q —
Growth
Revenue growth Q −12.96% (below 0%: shrinking)
Operating income growth Q +60.27% (above 0%: growing)
EPS, this year +60.15% (at or above 15%: strong)
EPS, next year A +21.47% (at or above 15%: strong)
Revenue, next year A −18.54% (below 0%: weak)
EPS, past 5 yrs —
EPS, next 5 yrs A +41.59% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 0.1×, against a ten-year median of 0.1×; over the ten years it ranged from −0.8× in 2024 to 13.0× in 2021.
P/S against its own 10 years 39.99%
10-year low 10-year high
P/B against its own 10 years 65.36%
10-year low 10-year high
EV/Sales against its own 10 years 5.15%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 372 228 182 182
Receivables 54 72 50 54
Inventory 7 3 1 1
Other — — — —
450 317 247 249
2023 2024 2025 Q'26
Payables 5 5 2 4
ST’ Debt — — — —
Other — — — —
94 111 73 83

Compound Annual Growth %

10y 5y 3y
Sales — 0.33% (3.47%)
Cash Flow — 0.00% 0.00%
Earnings — 0.00% 0.00%
Book Value — (27.61%) (38.85%)

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate −0.66 Actual −0.67

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 −1.59 −1.43 Beat by 0.16
Q1 FY26 −0.77 −0.78 Miss by 0.01
Q2 FY26 −0.60 −0.59 Beat by 0.01
Q3 FY26 −0.66 −0.67 Miss by 0.01
Q4 FY26 −0.44 — Reports 11 February 2027

EPS $

Mar Jun Sep Dec Year
’26 (0.66) (0.59) (0.64) — —
’25 (1.19) (1.24) (2.00) (1.52) (5.96)
’24 (5.00) (3.36) (2.87) (2.77) (13.88)
’23 (28.40) (6.60) (9.60) (3.40) (47.60)
’22 (5.20) (5.00) (5.00) (4.40) (19.80)
’21 (3.20) (3.00) (4.00) (3.60) (13.80)
’20 (11.90) (40.58) (18.40) 25.17 (45.40)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 55 52 49 — —
’25 67 71 56 55 249
’24 60 63 61 71 254
’23 64 62 62 71 259
’22 64 65 69 79 277
’21 58 60 62 73 253
’20 54 69 63 60 245
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (1) 11 (12) — —
’25 (25) (5) (19) (17) (66)
’24 (60) (22) (32) (13) (127)
’23 (29) (40) (38) (42) (148)
’22 (62) (43) (51) (36) (192)
’21 (41) (26) (29) (45) (142)
’20 (32) (26) (30) (25) (112)
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (4) 8 (15) — —
’25 (25) (5) (19) (17) (66)
’24 (63) (27) (37) (16) (143)
’23 (36) (47) (38) (43) (164)
’22 (62) (43) (51) (46) (203)
’21 (41) (26) (29) (45) (142)
’20 (33) (27) (31) (25) (116)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.8
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue — — 114 149 245 253 277 259 254 249 211 +11.8% 203 211 223 (3.6%)
Gross margin, % — — 48.57 46.27 36.07 41.27 42.13 36.58 38.90 53.29 51.99 +4.7 pt
EBT — — (52) (89) (226) (179) (270) (673) (207) (93) (56) +8.5%
EBT margin, % — — (45.91) (59.90) (92.06) (70.82) (97.31) (259.69) (81.29) (37.24) (26.53) +8.7 pt
Net income — 0 (52) (88) (229) (177) (272) (679) (213) (95) (56) n/m
Per share, $
Per share, $ Revenue — — 56.16 72.37 49.53 19.90 20.22 18.23 16.96 15.54 12.38 (16.8%)
Earnings — — (25.78) (42.96) (45.40) (13.80) (19.80) (47.60) (13.88) (5.96) (3.41) (18.9%)
Cash flow — — (36.47) (39.81) (22.71) (11.14) (14.03) (10.44) (8.49) (4.11) (1.13) (26.8%)
Capex — — (0.94) (0.65) (0.67) (0.04) (0.76) (1.07) (1.01) 0.00 (0.51) (61.0%)
Free cash flow — — (37.41) (40.46) (23.38) (11.19) (14.79) (11.51) (9.50) (4.11) (1.64) (27.1%)
Book value — — 0.00 (136.54) 251.65 99.25 79.06 33.79 21.08 15.44 13.20 n/m
Shares, m — — 2 2 5 13 14 14 15 16 17 +34.4%
Valuation, ×
Valuation, × P/E — — 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.0
P/S — — 0.00 0.00 10.23 6.07 2.79 1.59 0.43 0.32 0.98 2.7
P/B — — 0.00 0.00 2.01 1.22 0.71 0.86 0.34 0.32 0.92 0.7
EV/Sales — — 0.00 0.00 5.98 3.12 0.85 0.15 (0.47) (0.42) 0.12 1.2
EV/FCF — — (5.92) (5.92) (12.66) (5.55) (1.16) (0.25) 0.84 1.57 (0.91) (3.6)
Cash, $m
Cash, $m Operating cash flow — — (74) (82) (112) (142) (192) (148) (127) (66) (19) (1.6%)
Capex — — (2) (1) (3) (1) (10) (15) (15) 0 (9) (47.5%)
Free cash flow — — (76) (83) (116) (142) (203) (164) (143) (66) (28) (2.0%)
Balance, $m
Balance, $m Working capital — — 210 117 992 686 513 356 206 173 167 (2.7%)
Net debt — — (261) (178) (1,043) (746) (539) (372) (228) (182) (182) (5.0%)
Shareholders’ equity — — — (281) 1,246 1,261 1,084 480 316 248 225 n/m
Returns, %
Returns, % ROA — — 0.00 (34.88) (23.92) (12.49) (20.31) (74.72) (40.59) (25.19) (17.08) (25.2) pt
ROIC — — 0.00 0.00 (69.84) (21.76) (31.62) (400.00) (154.63) (100.51) (91.47) (100.5) pt
ROE — — 19.55 34.00 (46.50) (14.07) (23.07) (86.34) (52.27) (33.93) (23.18) (53.5) pt
People
People Employees — — — 686 812 1,035 1,035 1,104 877 562 — (3.3%)
Revenue/emp, $m — — 0.00 0.22 0.30 0.24 0.27 0.23 0.29 0.44 — n/m
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

American Well Corporation vs peers in Health Information Services (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
CARL Carlsmed, Inc. $418.3M — (loss-making) — (loss-making) +56.75% (above 0%: growing) n/m −6.84% (below 0%: shrinking) 76.78% (58.27%) Compare
CTEV Claritev Corporation $342.7M — (loss-making) — (loss-making) +6.59% (above 0%: growing) n/m +49.10% (above 0%: growing) 73.72% 9.09% Compare
SPOK Spok Holdings, Inc. $245.9M 12.9× 16.2× −2.56% (below 0%: shrinking) +190.31% (above 0%: growing) +61.57% (above 0%: growing) 79.66% 17.08% Compare
AMWL American Well Corporation $208.5M — (loss-making) — (loss-making) −12.96% (below 0%: shrinking) n/m +21.98% (above 0%: growing) 52.99% (23.79%)
SY So-Young International Inc. Sponsored ADR $177.7M — (loss-making) 12.8× +40.84% (above 0%: growing) n/m −798.37% (below 0%: shrinking) 44.11% (8.64%) Compare
DH Definitive Healthcare Corp. $163.7M — (loss-making) — (loss-making) −8.99% (below 0%: shrinking) n/m −32.60% (below 0%: shrinking) 77.27% (9.09%) Compare
OPRX OptimizeRx Corp. $163.3M 35.8× 41.7× −29.77% (below 0%: shrinking) n/m +89.86% (above 0%: growing) 76.51% (0.43%) Compare
HCAT Health Catalyst, Inc. $112.9M — (loss-making) — (loss-making) −26.26% (below 0%: shrinking) n/m +65.58% (above 0%: growing) 42.71% 89.08% Compare
LFMD LifeMD, Inc. $110.4M — (loss-making) — (loss-making) −3.55% (below 0%: shrinking) n/m −247.52% (below 0%: shrinking) 88.82% (15.08%) Compare
Median of peers $170.7M — 16.2× −3.05% — +21.13% 76.65% (4.53%)

All 44 Health Information Services stocks →

Pay and ownership Proxy statement filed 23 April 2026

Ownership

Directors and executive officers, together 52.90% of the votes
Dr. Roy Schoenberg 25.80% of the votes
Dr. Ido Schoenberg 25.70% of the votes
Morgan Stanley 3.80% of the votes
Funicular Funds, LP 2.60% of the votes
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

American Well Corporation (AMWL) Latest News

4 Nov

Impact 3 · · The Motley Fool transcript
Impact 3 · · Moby transcript
Impact 3 · · GuruFocus.com

3 Nov

Impact 3 · · MarketBeat transcript
Impact 3 · · GlobeNewswire

26 Oct

Impact 3 · · GlobeNewswire

14 Oct

Impact 4 · · GlobeNewswire

2 Oct

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8 Sep

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11 Aug

Impact 3 · · The Motley Fool transcript

5 Aug

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Impact 3 · · MarketBeat

4 Aug

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18 May

Impact 4 · · GlobeNewswire

11 May

Impact 3 · · Zacks

8 May

Impact 3 · · Zacks

6 May

Impact 4 · · Moby
Impact 4 · · MarketBeat

5 May

Impact 3 · · Zacks
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3 May

Impact 3 · · Simply Wall St.

14 Apr

Impact 4 · · Zacks

13 Feb

Impact 4 · · Moby transcript
Impact 4 · transcript

12 Feb

Impact 4 · · MarketBeat transcript
Impact 4 · · The Motley Fool transcript
Impact 4 · · GlobeNewswire
Impact 3 · · Zacks

5 Feb

Impact 3 · · GlobeNewswireStockStoryStockStoryMT NewswiresAssociated Press FinanceBarchartStockStoryZacks
stockrow.com/AMWL · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com