NCMI · National Cinemedia, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $243.20M | $240.80M | $165.20M | $249.20M | $114.60M | $90.40M |
| Cost of Revenue | $13.00M | $10.60M | - | - | - | - |
| Gross Profit | $230.20M | $230.20M | - | - | - | - |
| R&D | $3.10M | $3.30M | $3.00M | $4.60M | $1.70M | $1.90M |
| SG&A | $46.10M | $50.70M | $57.30M | $44.30M | $36.00M | $30.90M |
| Total Operating Expenses | $257.10M | $260.30M | $192.50M | $242.30M | $183.20M | $151.40M |
| D&A | - | - | - | $6.50M | $10.90M | $13.10M |
| Operating Income | ($13.90M) | ($19.50M) | ($27.30M) | $6.90M | ($68.60M) | ($61.00M) |
| Interest Expense | $600.0K | $1.70M | $27.90M | $79.70M | $64.80M | $55.80M |
| Income Tax | $0 | $200.0K | $0 | $0 | $0 | $162.20M |
| Net Income | ($10.60M) | ($22.30M) | $705.20M | ($28.70M) | ($48.70M) | ($65.40M) |
| EPS - Basic | ($0.11) | ($0.23) | $14.73 | ($3.50) | ($6.10) | ($8.40) |
| EPS - Diluted | ($0.11) | ($0.23) | $14.34 | ($3.50) | ($6.10) | ($8.40) |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $34.60M | $75.10M | $34.60M | $61.70M | $101.20M | $180.30M |
| Accounts Receivable | $96.50M | $85.30M | $96.60M | $92.00M | $53.00M | $16.20M |
| Inventory | - | - | - | - | - | - |
| Accounts Payable | $26.10M | $23.00M | $21.70M | $25.00M | $16.30M | $13.70M |
| Current Assets | $138.10M | $177.90M | $143.80M | $164.40M | $158.40M | $199.90M |
| Total Assets | $490.60M | $568.60M | $567.70M | $792.40M | $817.40M | $886.20M |
| Current Liabilities | $62.10M | $73.50M | $58.40M | $1.20B | $69.80M | $50.00M |
| Long-term Debt | $12.00M | $10.00M | $10.00M | $0 | $1.09B | $1.05B |
| Total Liabilities | $115.20M | $157.40M | $133.20M | $1.26B | $1.20B | $1.15B |
| Stockholders' Equity | $375.40M | $411.20M | $434.50M | ($515.30M) | ($526.70M) | ($473.10M) |
| Retained Earnings | $236.40M | $280.90M | $316.60M | ($370.40M) | ($332.00M) | ($266.40M) |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $8.40M | $60.30M | ($6.70M) | ($47.30M) | ($95.20M) | $55.30M |
| Investing Cash Flow | ($15.40M) | ($5.70M) | $32.60M | ($400.0K) | ($5.40M) | $15.60M |
| Financing Cash Flow | ($33.50M) | ($52.10M) | ($52.10M) | $10.30M | $21.50M | $53.50M |
| CapEx | $5.60M | $5.80M | $3.30M | $2.90M | $5.70M | $8.00M |
| Free Cash Flow | $2.80M | $54.50M | ($10.00M) | ($50.20M) | ($100.90M) | $47.30M |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 94.7% | 95.6% | - | - | - | - |
| Operating margin | -5.7% | -8.1% | -16.5% | 2.8% | -59.9% | -67.5% |
| EBITDA margin | - | - | - | 5.4% | -50.3% | -53.0% |
| Net margin | -4.4% | -9.3% | 426.9% | -11.5% | -42.5% | -72.3% |
| Free cash flow margin | 1.2% | 22.6% | -6.1% | -20.1% | -88.0% | 52.3% |
| FCF / Net income | -0.26 | -2.44 | -0.01 | 1.75 | 2.07 | -0.72 |
| R&D / Revenue | 1.3% | 1.4% | 1.8% | 1.8% | 1.5% | 2.1% |
| SG&A / Revenue | 19.0% | 21.1% | 34.7% | 17.8% | 31.4% | 34.2% |
| Effective tax rate | - | - | 0.0% | - | - | 167.6% |
| Return on assets | -2.2% | -3.9% | 124.2% | -3.6% | -6.0% | -7.4% |
| Return on equity | -2.8% | -5.4% | 162.3% | 5.6% | 9.2% | 13.8% |
| Return on invested capital | -2.8% | -3.7% | -6.1% | - | -9.5% | -5.3% |
| Liquidity | ||||||
| Current ratio | 2.22 | 2.42 | 2.46 | 0.14 | 2.27 | 4.00 |
| Quick ratio | 2.22 | 2.42 | 2.46 | 0.14 | 2.27 | 4.00 |
| Cash ratio | 0.56 | 1.02 | 0.59 | 0.05 | 1.45 | 3.61 |
| Leverage | ||||||
| Debt / Equity | 0.03 | 0.02 | 0.02 | 0.00 | -2.08 | -2.22 |
| Debt / Assets | 0.02 | 0.02 | 0.02 | 0.00 | 1.34 | 1.18 |
| Debt / EBITDA | - | - | - | 0.00 | - | - |
| Interest coverage | -23.2x | -11.5x | -1.0x | 0.1x | -1.1x | -1.1x |
| Equity multiplier | 1.31 | 1.38 | 1.31 | -1.54 | -1.55 | -1.87 |
| Liabilities / Assets | 0.23 | 0.28 | 0.23 | 1.59 | 1.47 | 1.30 |
| Efficiency | ||||||
| Asset turnover | 0.50 | 0.42 | 0.29 | 0.31 | 0.14 | 0.10 |
| Inventory turnover | - | - | - | - | - | - |
| Days sales outstanding | 145d | 129d | 213d | 135d | 169d | 65d |
| Days inventory outstanding | - | - | - | - | - | - |
| Days payable outstanding | 733d | 792d | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - |
| Valuation | ||||||
| P / E | - | - | 0.3x | - | - | - |
| P / B | 1.0x | 1.5x | 0.5x | - | - | - |
| P / S | 1.5x | 2.6x | 1.2x | 0.7x | 19.2x | 32.1x |
| EV / EBITDA | - | - | - | 8.9x | - | - |
| Growth | ||||||
| Revenue growth (YoY) | 1.0% | 45.8% | -33.7% | 117.5% | 26.8% | -79.7% |
| Revenue CAGR (3y) | -0.8% | 28.1% | 22.3% | -17.6% | -36.5% | - |
| Revenue CAGR (5y) | 21.9% | -11.5% | -18.1% | - | - | -27.3% |
| Gross profit growth (YoY) | 0.0% | - | - | - | - | - |
| Operating income growth (YoY) | 28.7% | 28.6% | - | - | -12.5% | - |
| Net income growth (YoY) | 52.5% | - | - | 41.1% | 25.5% | - |
| EPS growth (YoY) | 52.2% | - | - | 42.6% | 27.4% | - |
| EPS CAGR (3y) | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | 107.8% | - | - | - |
| FCF growth (YoY) | -94.9% | - | 80.1% | 50.2% | - | -63.5% |
| FCF CAGR (5y) | -43.2% | -15.9% | - | - | - | -12.6% |
| Book value growth (YoY) | -8.7% | -5.4% | - | 2.2% | -11.3% | -24.7% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2026-01-01.
Product / service
$246.60M totalNational Advertising Revenue$194.50M · 78.9%
Local Advertising Revenue$34.60M · 14.0%
Founding Member Advertising Revenue From Beverage Concessionaire Agreements$14.10M · 5.7%
Barter Transaction Revenue$3.40M · 1.4%
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
2.29
Grey zone
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2025 · 9-point quality
5/9
Neutral
- ✗Net income positive
- ✓Operating cash flow positive
- ✓ROA improved YoY
- ✓Cash flow > net income
- ✗Long-term debt decreased
- ✗Current ratio improved
- ✓No share dilution
- ✗Gross margin improved
- ✓Asset turnover improved
Peer comparison
Same SIC group: Services-Advertising
Comparing National CineMedia against the 5 most active filers in the same SIC group.
Dividends
$0.12/share trailing 12 months · +100.0% YoY
| Ex-date | Per share |
|---|---|
| May 22, 2026 | $0.0300 |
| Mar 9, 2026 | $0.0300 |
| Nov 10, 2025 | $0.0300 |
| Aug 15, 2025 | $0.0300 |
| May 16, 2025 | $0.0300 |
| Mar 24, 2025 | $0.0300 |
| Aug 19, 2022 | $0.3000 |
| May 20, 2022 | $0.3000 |
| Mar 16, 2022 | $0.5000 |
| Nov 19, 2021 | $0.5000 |
| Aug 20, 2021 | $0.5000 |
| May 20, 2021 | $0.5000 |
| Mar 19, 2021 | $0.5000 |
| Nov 13, 2020 | $0.7000 |
| Aug 14, 2020 | $0.7000 |
| May 15, 2020 | $0.7000 |
| Mar 2, 2020 | $1.9000 |
| Nov 13, 2019 | $1.7000 |
| Aug 14, 2019 | $1.7000 |
| May 15, 2019 | $1.7000 |
| Mar 4, 2019 | $1.7000 |
| Nov 14, 2018 | $1.7000 |
| Aug 15, 2018 | $1.7000 |
| May 17, 2018 | $1.7000 |