American Well Corporation (AMWL) AI Stock Analysis

American Well Corporation, based in Boston, Massachusetts, operates a digital care delivery enablement platform across the United States and internationally. The platform connects healthcare providers, insurers, patients, and innovators to facilitate access to healthcare. Its digital offerings cover urgent care, scheduled visits, acute behavioral health, telestroke consultations, emergency department triage, pediatric care, primary care consultations, chronic disease management, and therapy programs. Alongside software services, American Well provides telemedicine hardware essential for remote delivery, including telemedicine carts, peripherals, Tyto Care devices, hospital TV kits, and telehealth tablets.

Between FY2021 and FY2025, American Well generated a 5-year revenue CAGR of 0.3%. Revenue grew to $277.2M in FY2022 before dropping to $249.3M in FY2025, when revenue fell 2.0%. Gross margin expanded to 53.3% in FY2025, up from 38.9% in FY2024 and 36.6% in FY2023. Operating margin improved from -267.2% in FY2023 to -42.2% in FY2025, while net losses narrowed from -$675.2M in FY2023 to -$95.7M in FY2025. In the trailing twelve months ended June 30, 2026, revenue stood at $218.5M with an operating margin of -19.6% and a net profit margin of -35.8%. In the quarter ended June 30, 2026, quarterly revenue fell 26.6% year-over-year.

As of June 30, 2026, American Well held $195.9M in cash and short-term investments against total debt of $3.0M, resulting in net cash of $193.0M. The company's current ratio was 2.90, with a debt-to-equity ratio of 0.01 and shareholders' equity of $221.2M. While cash generation remains negative, operating cash flow improved to -$66.0M in FY2025 from -$127.3M in FY2024. Free cash flow was -$66.0M in FY2025. Capital allocation included capital expenditures of $21,000 and share buybacks of $4,000 in FY2025, while the share count rose 26.0% over 5 years.

With a market cap of $195.2M and an enterprise value of $31.7M, American Well trades at a price-to-sales multiple of 0.9x and an EV-to-revenue multiple of 0.1x. These figures compare with a median price-to-sales multiple of 4.1x for its US-listed Healthcare peer group. Its price-to-book ratio is 1.0x. Over the past year, the stock returned 105.6% compared to 16.8% for the S&P 500, though its 5-year return sits at -93.1% compared to an 83.0% gain for the broader index.

Wall Street coverage includes 1 Strong Buy, 6 Hold, and 0 Sell ratings. The mean price target is $12.80, representing an upside of 9.6% from the last close of $11.68. For the fiscal year ending December 31, 2026, consensus estimates project revenue of $203.1M and EPS of -$2.56. For the following fiscal year, 1 analyst estimates revenue of $210.6M and EPS of -$1.58. The company beat EPS estimates in 3 of the last 4 quarters, with the next earnings release scheduled for November 3, 2026.

This page is an AI-written research summary of American Well Corporation (AMWL). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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