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American Well Corporation (AMWL) Fair Value & Analysis

Healthcare · US · Market cap $142M

AW American Well Corporation logo American Well Corporation AMWL · US
Price$13.58
Fair Value$10.52
Upside-22.5%
Quality46/100
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Weak Growth
Loss-making · -37.0% net margin
negative free cash flow
Trails peers (3/9)
Narrow moat 6/100
Evidence: Low Range $6.94 – $13.15 Share as image

Fair value as of: Jul 24, 2026

From 1 valuation models · updated 18 days ago

Share price +37.0% over the past month.

Below-average quality, and screening another 23% overvalued on our models.

What matters 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.
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Price vs Fair Value (5 years)

$292.80 $3.78 Fair Value $10.52 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 24, 2026.

How to read this chart

60‑month range $3.78 – $292.80 · fair‑value band $6.94 – $13.15 · the $13.58 price screens above the $10.52 fair value. Dashed = 300-day average. As of Jul 24, 2026.

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Analysis

American Well Corporation (AMWL) currently trades at $13.58, while our model-based Fair Value estimate is $10.52, implying the stock looks roughly 22.5% overvalued today. The Quality Score stands at 46/100 (below-average quality), in the Healthcare sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: low).

Over the trailing twelve months, American Well Corporation generated revenue of $237M at a net margin of -37.0%. Revenue declined 17.9% year over year. It earns a return on equity of -31.8%. The balance sheet holds a net cash position of $178M. Fundamentals as of Jul 24, 2026

Our scenario range runs from $6.94 (bear case) to $13.15 (bull case); at $13.58, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 266% above its 52-week low, currently above its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -53% fair-value upside, at -23%, AMWL screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

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
Highest evidence
NCAV (Graham) $7.82 $10.48 $15.64 50
All 1 models by family
Asset-Based
NCAV (Graham) $7.82 $10.48 $15.64 50

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Key figures & financial health

Revenue (TTM) $237M
Revenue growth (YoY) -17.9%
Net margin -37.0%
Return on equity -31.8%
Free cash flow −$66.0M FY2025
Operating margin -23.6%
More key figures
EPS (TTM) $-5.43
Net cash $178M FY2025

Figures from reported company fundamentals · as of Jul 24, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 46/100

Of which business quality 46 · Market factors (momentum, volatility) 69

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 94
Price trend over the last 3–12 months (market factor)
52W Momentum 100
Distance to the 52-week high (market factor)
Net Issuance 18
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

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

Full company description

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.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

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

Growth Quality 6/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
$249M
Latest YoY
−2.0%
Avg. growth/yr (3Y) 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.
−3.5%
Avg. growth/yr (5Y) 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.
+0.3%
Avg. growth/yr (7Y) 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.
+11.8%
Revenue −0.3%/yr
FY21 $253M
FY22 $277M
FY23 $259M
FY24 $254M
FY25 $249M
Net income
FY21 −$176M
FY22 −$270M
FY23 −$675M
FY24 −$208M
FY25 −$95.7M

AMWL screens 23% overvalued. Compare with Veeva Systems Inc →

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Cite: Fair Value Calculator (2026). "American Well Corporation Fair Value". https://www.fairvalue-calculator.com/stock/AMWL

Peer Group

Health Information Services · 126 stocks

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.

Quality Score 46 · Below median
Fair Value upside −23% · Above median
Return on assets -13% · Bottom 25%
Net margin (TTM) -37% · Bottom 25%
Operating margin (TTM) -24% · Bottom 25%
Revenue growth -18% · Bottom 25%

Valuation Multiples vs Health Information Services median · lower = cheaper

P/B 0.60× · Cheaper than 75% of peers
P/S (TTM) 0.60× · Cheaper than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 3 · sector 0
FUTURE 0 · sector 33
PAST 0 · sector 7
HEALTH 0 · sector 98
DIVIDEND 0 · sector 35

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Health Information Services stocks, each showing price versus our Fair Value estimate (as of Jul 24, 2026).

Stock Price Fair Value vs Fair Value
Veeva Systems Inc VEEV $190.12 $95.12 -50%
Pro Medicus Limited PME A$194.84 A$23.74 -88%
BrightSpring Health Services, Inc BTSG $68.16 $21.31 -69%
HealthEquity, Inc HQY $97.67 $56.63 -42%
Hinge Health, Inc HNGE $88.80 $24.03 -73%
10x Genomics, Inc TXG $45.75 $17.18 -62%
Waystar Holding WAY $22.69 $12.86 -43%
Doximity, Inc DOCS $22.21 $17.18 -23%
Privia Health Group PRVA $28.10 $5.30 -81%
Inventurus Knowledge Solutions Limited IKS ₹1,846 ₹860.28 -53%

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Frequently asked questions

Is American Well Corporation (AMWL) overvalued or undervalued?
As of Jul 24, 2026, our model estimates a fair value of $10.52 versus a price of $13.58, about −23% (overvalued).
What is the fair value of AMWL?
Our model-based fair value for American Well Corporation is $10.52 (as of Jul 24, 2026), built from audited fundamentals. The current price is $13.58.
What is the quality score of AMWL?
American Well Corporation 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 revenue of American Well Corporation (AMWL)?
American Well Corporation reported trailing-twelve-month revenue of about $237M (latest available figure, as of Jul 24, 2026).
What is the net profit margin of AMWL?
The net profit margin of American Well Corporation is about -37.0%, meaning it is currently running at a net loss. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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