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American Well Corp (AMWL) fair value: what the stock is really worth

As of Sep 24, 2026: fair value of American Well Corp $10.52, price $13.47, upside -21.9%, quality 46 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
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Healthcare · US · ISIN US03044L1052

AW American Well Corp logo Thin data Sep 23, 2026

American Well Corp

AMWL · US

Weak valuationQuality is weak on top of the rich price.

!Fair value $10.52 · Overvalued (−22%)
!Quality 46/100
!Weak Growth (revenue 5y +0.3 %/yr)
!Loss-making · -37.0% net margin (TTM)
!negative free cash flow
!Trails peers (3/9)
!Narrow moat 6/100
!Evidence only low, so the estimate is less certain
!Weak on valuation: 4 out of 100
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

$274.60 $3.78 Fair Value $10.52 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 23, 2026.

How to read this chart

60‑month range $3.78 – $274.60 · fair‑value band $6.94 – $13.15 · the $13.47 price screens above the $10.52 fair value. Dashed = 300-day average. As of Sep 23, 2026.

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Company profile

American Well Corporation, an enterprise platform and software company, delivers digitally enabling hybrid care in the United States and internationally.

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American Well Corporation, an enterprise platform and software company, delivers digitally enabling hybrid care in the United States and internationally. The company offers Amwell Platform, a cloud-based enablement platform, digitally enables a scalable healthcare experience across all care settings; Amwell Carepoint, a device enable healthcare providers to leverage proprietary carts and transform existing tablets and TVs into digital access points in clinical settings; Amwell Converge, a platform and wraparound services of digital care into the in-person, automated, and virtual care settings; and Behavioral Health, a platform that offer students and faculty the right level of care. It also provides specialty care programs, including dermatology, musculoskeletal care, second opinion, and cardiometabolic care for patients and members; Amwell Medical Group network services consisting of primary and urgent care, behavioral health therapy, lactation counseling, and nutrition services. Further, it provides professional services to facilitate implementation, workflow design, systems integration, and service expansion for its products, as well as patient and provider engagement services. The company sells its products through field sales professionals, channel partners, and value-added resellers. It serves providers, payers, and the government, as well as the higher education sector. American Well Corporation was incorporated in 2006 and is headquartered in Boston, Massachusetts.

Stock analysis

American Well Corp (AMWL) currently trades at $13.47, while our model-based Fair Value estimate is $10.52, implying the stock looks roughly 28.0% overvalued today.

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Valuation

How firm this estimate is: it rests on 1 models at a data quality of 89/100, which puts the evidence level at low.

Scenario range: $6.94 (bear) to $13.15 (bull), the price of $13.47 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 46/100 (below-average quality), in the Healthcare sector.

Weak Growth: Revenue growth is weak: less than 2 % a year.

American Well Corp reported revenue of $249M in FY2025 versus $253M in FY2021, a compound −0.3%/yr. Reported net income was −$95.7M in FY2025.

Key figures

Market cap $216M · P/S ratio 0.60 · EPS (TTM) $−5.43 · Net margin −38.4% · Return on equity −31.8% · Return on assets (EBIT) −47.0% · Operating margin −23.6% · Revenue (TTM) $237M.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 29 out of 100 (low confidence).

What moves the price

The share trades about 3% below its 52-week high and 256% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Healthcare peers we cover trades at −45% fair-value upside, at −22%, AMWL screens cheaper than that median.

Fair Value models

Bear $6.94 Fair Value $10.52 Bull $13.15
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
NCAV (Graham) $7.82 $10.48 $15.64 51
All 1 models by family
Asset-Based
NCAV (Graham) $7.82 $10.48 $15.64 51

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Quality Score breakdown

Overall quality 46/100

Of which business quality 46 · Market factors (momentum, volatility) 71

Profitability 26
Margins and returns on capital today
Quality Growth 82
Are margins and returns improving?
Cashflow 4
Earnings quality: real cash, not paper profit
Fin. Strength 75
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 4
Calm price path (market factor)
Momentum 100
Price trend over the last 3–12 months (market factor)
52W Momentum 98
Distance to the 52-week high (market factor)
Net Issuance 18
Share count: buybacks or dilution?

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Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 6/100
Revenue growth is weak: less than 2 % a year.
Revenue growth 1 year
−2.0%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−3.5%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+0.3%
Start year 2020 (pandemic)
Revenue growth 7 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+11.8%
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−92.7% (2020) → −42.2% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

AMWL screens 28% overvalued. Compare with Veeva Systems Inc →

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Health Information Services · 133 stocks

Beats the industry median on 3/8 measures
Overall it trails its industry peers.
Valuation
Quality Score 46 · Below median
Fair Value upside −22% · Above median
Profitability
Return on assets −13% · Bottom 25%
Net margin (TTM) −37% · Bottom 25%
Operating margin (TTM) −24% · Bottom 25%
Growth and dividend
Revenue growth −18% · Bottom 25%

Valuation Multiplesvs Health Information Services median · lower = cheaper

P/B 0.92× · Cheapest 25%
P/S (TTM) 0.91× · Cheaper than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)4 · sector 4
FUTURE (revenue growth)0 · sector 35
PAST (return on equity)0 · sector 5
HEALTH (low debt)0 · sector 98
DIVIDEND (yield)0 · sector 48

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Health Information Services stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Veeva Systems Inc VEEV $270.75 $297.83 +10%
Pro Medicus Limited PME A$161.31 A$64.50 −60%
BrightSpring Health Services, Inc BTSG $56.55 $26.07 −54%
HealthEquity, Inc HQY $91.75 $100.93 +10%
Hinge Health, Inc HNGE $94.15 $51.66 −45%
10x Genomics, Inc TXG $80.70 $21.71 −73%
Waystar Holding WAY $25.63 $28.19 +10%
XtalPi Holdings 2228 HK$8.39 HK$1.50 −82%
Doximity, Inc DOCS $26.51 $31.41 +18%
Privia Health Group PRVA $19.46 $5.26 −73%

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American Well Corp · Fair Value
$10.52 −28%Fair Value
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Cite: Fair Value Calculator (2026). "American Well Corp Fair Value". https://www.fairvalue-calculator.com/stock/AMWL

Frequently asked questions

Is American Well Corp (AMWL) overvalued or undervalued?
As of Sep 23, 2026, our model estimates a fair value of $10.52 versus a price of $13.47, about −22% upside (overvalued).
What is the fair value of AMWL?
Our model-based fair value for American Well Corp is $10.52 (as of Sep 23, 2026), built from audited fundamentals. The current price: $13.47.
What is the quality score of AMWL?
American Well Corp has a Quality Score of 46/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for American Well Corp (AMWL)?
Our model-based price target is the fair value of $10.52 (as of Sep 23, 2026) from 1 valuation models. Cautious scenario $6.94, optimistic scenario $13.15. It is a calculation from audited fundamentals, not an analyst target.
What is the American Well Corp stock forecast for 2026?
Our models put fair value at $10.52, about −22% upside versus a price of $13.47 (overvalued). Cautious scenario $6.94, optimistic scenario $13.15. The calculation is refreshed regularly with new filings.
What is the revenue of American Well Corp (AMWL)?
American Well Corp reported trailing-twelve-month revenue of about $237M (latest available figure, as of Sep 23, 2026).
What is the intrinsic value of American Well Corp (AMWL)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For American Well Corp it is $10.52 per share (as of Sep 23, 2026), against a price of $13.47. It is the blended result of 1 valuation models (cash flow, earnings, asset, dividend).
Is American Well Corp stock overvalued or undervalued in 2026?
As of Sep 23, 2026, AMWL trades above its calculated fair value: price $13.47, fair value $10.52, a gap of about −22% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of AMWL?
No. The price is what the market pays today ($13.47); the fair value is what the company's own numbers justify ($10.52). For American Well Corp the two are $2.95 per share apart. That gap is exactly why we show both numbers side by side.
How much is American Well Corp worth?
The market values American Well Corp at about $216M (market capitalisation, as of Sep 23, 2026). Per share that is $13.47; our models calculate a fair value of $10.52 per share.
What do the bullish and bearish scenarios say about AMWL?
Our models span a range for American Well Corp: cautious scenario $6.94, base $10.52, optimistic $13.15 per share (as of Sep 23, 2026, price $13.47). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of American Well Corp (AMWL)?
Balance-sheet figures for American Well Corp (as of Sep 23, 2026): return on equity −31.8%. They feed the Quality Score of 46/100, which measures business quality independently of the share price.
How far is AMWL from its 52-week high?
American Well Corp trades at $13.47, about 3% below its 52-week high of $13.87 and 256% above the low of $3.78 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of $10.52 is for.
Which stocks are comparable to American Well Corp?
From the same area (Healthcare) we also value Veeva Systems Inc, Pro Medicus Limited, BrightSpring Health Services, Inc, HealthEquity, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is American Well Corp stock attractive at the current price?
The data as of Sep 23, 2026: price $13.47, calculated fair value $10.52 (−22%), Quality Score 46/100, from 1 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of AMWL calculated?
We run American Well Corp through 1 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $10.52, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.0 % above its aggregate fair value. American Well Corp itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of American Well Corp (AMWL)?
The closing price on Sep 24, 2026 was $13.47. Our model-based fair value is $10.52, about −22% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with American Well Corp right now?
The price sits above even our optimistic bull case ($13.15). The favourable scenario is already priced in. Solid but not exceptional quality (46/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range ($6.94 to $13.15) leaves room in how you read the outcome. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.

Key figures of American Well Corp

How large is the market capitalisation of American Well Corp (AMWL)?
The market capitalisation of American Well Corp is $216M. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of American Well Corp (AMWL)?
The price-to-sales ratio of American Well Corp is 0.60 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of American Well Corp (AMWL)?
Earnings per share at American Well Corp are $−5.43. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of American Well Corp (AMWL)?
The net margin of American Well Corp is −38.4% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of American Well Corp (AMWL)?
The return on equity (ROE) of American Well Corp is −31.8% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of American Well Corp (AMWL)?
On an EBIT basis the return on assets of American Well Corp is −47.0% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of American Well Corp (AMWL)?
The operating margin of American Well Corp is −23.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at American Well Corp (AMWL)?
Revenue at American Well Corp is growing −17.9% versus a year earlier (3y avg −3.5%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does American Well Corp (AMWL) generate?
The free cash flow of American Well Corp is −$66.0M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does American Well Corp (AMWL) hold?
American Well Corp holds more cash than debt, $178M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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