What is National CineMedia, Inc.'s earnings per share (EPS)?

National CineMedia, Inc. (NCMI) reported diluted earnings per share of -$0.11 for fiscal year 2025. This represents a 52.2% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

National CineMedia, Inc. (NCMI) Financials

NCMI

Trailing 12 months to July 2, 2026

Revenue $248.9M +5.7% YoY

Net Income -$7.7M +62.1% YoY

EPS (Diluted) -$0.09 +57.1% YoY

Free Cash Flow $19.7M -18.6% YoY

Market Cap $192.8M as of Oct 21, 2026

Price / Sales 0.8x on $248.9M revenue, trailing 12 months to July 2, 2026

Price / Earnings n/m net loss, so no earnings multiple, trailing 12 months to July 2, 2026

Price / Book 0.6x on $334.3M equity, Q2 FY2027

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 21, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2027, ended Jul 2, 2026 Reported Aug 11, 2026 Currency USD FYE January

Newest figures come from the 10-Q for Q2 FY2027, filed Aug 11, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the NCMI SEC filings page.

National CineMedia, Inc. (NCMI) reported $248.9M in revenue over the twelve months to Jul 2, 2026, up 5.7% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI NCMI FY2025 2026-10-03

High gross margins mask a business still reliant on overhead control, with cash generation too uneven to support consistent shareholder distributions.

Revenue was broadly flat across FY2024 and FY2025, while operating cash flow fell from $60.3M to $8.4M. Free cash flow likewise fell from $54.5M to $2.8M, showing that FY2024's cash output was not a dependable operating baseline.

Gross margin edged from 94.3% to 94.7%, showing that direct delivery costs consume little of each sales dollar. But operating margin was still -5.7% in FY2025; the remaining burden sits above gross profit, so overhead continues to determine whether sales become earnings.

FY2025 financing outflows totaled $33.5M, almost entirely buybacks and dividends. That exceeded the year's free cash flow of $2.8M, so shareholder distributions were not funded by that year's internally generated cash.

Financial Health Signals

Financial Health Score 57/100

Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of National CineMedia, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

National CineMedia, Inc. has an operating margin of -5.7%, meaning the company loses $6 on every $100 of revenue. This results in a profitability score of 22/100. This is up from -8.1% the prior year.

Growth

National CineMedia, Inc.'s revenue grew a modest 1.0% year-over-year to $243.2M. This slow but positive growth earns a score of 83/100.

Leverage

National CineMedia, Inc. carries a low D/E ratio of 0.03, meaning only $0.03 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 86/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

National CineMedia, Inc.'s current ratio of 2.22 indicates adequate short-term liquidity, earning a score of 64/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow

National CineMedia, Inc. has a free cash flow margin of 1.1%, earning a moderate score of 50/100. The company generates positive cash flow after capital investments, but with room for improvement.

Returns

National CineMedia, Inc. posts a -2.8% return on equity (ROE), meaning it loses $3 for every $100 of shareholders' equity. This results in a returns score of 35/100. This is up from -5.4% the prior year.

Altman Z-Score Grey Zone

2.27

National CineMedia, Inc. scores 2.27, placing it in the grey zone between 1.81 and 2.99. This signals moderate financial risk that warrants monitoring.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Neutral

6/9

National CineMedia, Inc. passes 6 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Mixed

N/A

National CineMedia, Inc. reported a net loss of $10.6M while generating $8.4M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.

Interest Coverage At Risk

N/A

National CineMedia, Inc. reported an operating loss of $13.9M against $600K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.

Key Financial Metrics

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Earnings & Revenue

Revenue

$58.4M

YoY+12.7%

QoQ+71.8%

5Y CAGR+33.1%

10Y CAGR-6.6%

National CineMedia, Inc. generated $58.4M in revenue in Q2 2027. This represents an increase of 12.7% from the same quarter a year earlier. Against the prior quarter it is up 71.8%.

Net Income

-$9.9M

YoY+7.5%

QoQ+65.4%

National CineMedia, Inc. reported -$9.9M in net income in Q2 2027. This represents an increase of 7.5% from the same quarter a year earlier. Against the prior quarter it is up 65.4%.

EPS (Diluted)

-$0.11

YoY0.0%

QoQ+64.5%

National CineMedia, Inc. earned -$0.11 per diluted share (EPS) in Q2 2027. That is unchanged from the same quarter a year earlier. Against the prior quarter it is up 64.5%.

EBITDA

Not reported for Q2 2027.

Cash & Balance Sheet

Free Cash Flow

-$2.2M

YoY+66.7%

QoQ-112.4%

National CineMedia, Inc. recorded an outflow of $2.2M in free cash flow in Q2 2027, representing a cash shortfall after capex. This represents an increase of 66.7% from the same quarter a year earlier. Against the prior quarter it is down 112.4%.

Cash & Debt

$43.1M

YoY+15.9%

QoQ-11.3%

5Y CAGR-21.8%

10Y CAGR+9.5%

National CineMedia, Inc. held $43.1M in cash against $12.0M in long-term debt as of Q2 2027.

Dividends Per Share

$0.03

YoY0.0%

QoQ0.0%

National CineMedia, Inc. paid $0.03 per share in dividends in Q2 2027. That is unchanged from the same quarter a year earlier. It is unchanged from the prior quarter.

Shares Outstanding

94M

YoY+0.4%

QoQ+0.3%

National CineMedia, Inc. had 94M shares outstanding in Q2 2027. This represents an increase of 0.4% from the same quarter a year earlier. Against the prior quarter it is up 0.3%.

Margins & Returns

Gross Margin

93.7%

YoY-0.2pp

QoQ+5.4pp

National CineMedia, Inc.'s gross margin was 93.7% in Q2 2027, indicating the percentage of revenue retained after direct costs. This is down 0.2 percentage points from the same quarter a year earlier. Against the prior quarter it is up 5.4 percentage points.

Operating Margin

-21.9%

YoY+1.2pp

QoQ+57.2pp

10Y change-62.2pp

National CineMedia, Inc.'s operating margin was -21.9% in Q2 2027, reflecting core business profitability. This is up 1.2 percentage points from the same quarter a year earlier. Against the prior quarter it is up 57.2 percentage points.

Net Margin

-17.0%

YoY+3.7pp

QoQ+67.2pp

National CineMedia, Inc.'s net profit margin was -17.0% in Q2 2027, showing the share of revenue converted to profit. This is up 3.7 percentage points from the same quarter a year earlier. Against the prior quarter it is up 67.2 percentage points.

Return on Equity

-3.0%

YoY+0.1pp

QoQ+5.3pp

National CineMedia, Inc.'s ROE was -3.0% in Q2 2027, measuring profit generated per dollar of shareholder equity. This is up 0.1 percentage points from the same quarter a year earlier. Against the prior quarter it is up 5.3 percentage points.

Capital Allocation

Share Buybacks

$200K

YoY-98.0%

QoQ-80.0%

National CineMedia, Inc. spent $200K on share buybacks in Q2 2027, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 98.0% from the same quarter a year earlier. Against the prior quarter it is down 80.0%.

Capital Expenditures

$700K

YoY-58.8%

QoQ+133.3%

5Y CAGR-4.9%

10Y CAGR-12.6%

National CineMedia, Inc. invested $700K in capex in Q2 2027, funding long-term assets and infrastructure. This represents a decrease of 58.8% from the same quarter a year earlier. Against the prior quarter it is up 133.3%.

R&D Spending

Not reported for Q2 2027.

NCMI Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

NCMI quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Revenue	$248.9M	$243.2M+1.0%	$240.8M+45.8%	$165.2M-33.7%	$249.2M+117.5%	$114.6M+26.8%	$90.4M-79.7%	$444.8M+0.8%	$441.4M+3.6%	$426.1M-4.8%	$447.6M+0.2%	$446.5M+13.3%	$394.0M-14.9%	$462.8M+3.1%	$448.8M+3.1%	$435.4M
Cost of Revenue	$14.4M	$13.0M-5.1%	$13.7M+29.2%	$10.6M	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	$234.5M	$230.2M+1.4%	$227.1M+46.9%	$154.6M	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	$3.1M-6.1%	$3.3M+10.0%	$3.0M-34.8%	$4.6M+170.6%	$1.7M-10.5%	$1.9M-47.2%	$3.6M+111.8%	$1.7M-52.8%	$3.6M+5.9%	$3.4M+126.7%	$1.5M-11.8%	$1.7M-5.6%	$1.8M+125.0%	$800K-11.1%	$900K
SG&A Expenses	$46.7M	$46.1M-9.1%	$50.7M-11.5%	$57.3M+29.3%	$44.3M+23.1%	$36.0M+16.5%	$30.9M-29.5%	$43.8M-9.3%	$48.3M+27.4%	$37.9M-13.5%	$43.8M+13.5%	$38.6M+30.8%	$29.5M+0.3%	$29.4M-6.7%	$31.5M+3.6%	$30.4M
Operating Income	-$17.7M	-$13.9M+28.7%	-$19.5M+28.6%	-$27.3M-495.7%	$6.9M+110.1%	-$68.6M-12.5%	-$61.0M-137.8%	$161.3M+4.5%	$154.3M+0.3%	$153.9M-11.0%	$173.0M+16.9%	$148.0M-2.4%	$151.7M-24.9%	$202.0M+5.3%	$191.8M-1.0%	$193.7M
EBITDA	N/A	N/A	N/A	N/A	$13.4M+123.2%	-$57.7M-20.5%	-$47.9M-127.4%	$174.9M+4.8%	$166.9M+1.2%	$164.9M-21.0%	$208.8M+15.9%	$180.2M-2.1%	$184.1M-19.5%	$228.6M+7.7%	$212.2M-0.1%	$212.5M
Interest Expense	$700K	$600K-64.7%	$1.7M-93.9%	$27.9M-65.0%	$79.7M+23.0%	$64.8M+16.1%	$55.8M-3.8%	$58.0M+4.7%	$55.4M+4.9%	$52.8M-2.2%	$54.0M+3.4%	$52.2M-0.8%	$52.6M+1.9%	$51.6M-9.0%	$56.7M+15.2%	$49.2M
Income Tax	$0	$0-100.0%	$200K	$0	$0	$0-100.0%	$162.2M+1208.1%	$12.4M-47.2%	$23.5M-87.0%	$180.3M+1152.1%	$14.4M-26.2%	$19.5M+97.0%	$9.9M-51.0%	$20.2M-24.3%	$26.7M+37.6%	$19.4M
Net Income	-$7.7M	-$10.6M+52.5%	-$22.3M-103.2%	$705.2M+2557.1%	-$28.7M+41.1%	-$48.7M+25.5%	-$65.4M-281.2%	$36.1M+21.1%	$29.8M-48.9%	$58.3M+77.2%	$32.9M+191.2%	$11.3M-15.7%	$13.4M-67.5%	$41.2M+207.5%	$13.4M-57.5%	$31.5M
EPS (Basic)	N/A	-$0.11+52.2%	-$0.23-101.6%	$14.73+520.9%	-$3.50-473.8%	-$0.61+27.4%	-$0.84-278.7%	$0.47+20.5%	$0.39-56.2%	$0.89+61.8%	$0.55+189.5%	$0.19-17.4%	$0.23-68.9%	$0.74+196.0%	$0.25-56.9%	$0.58
EPS (Diluted)	-$0.09	-$0.11+52.2%	-$0.23	$14.34	-$3.50	-$0.61+27.4%	-$0.84-282.6%	$0.46+24.3%	$0.37	$0.48	$0.54+184.2%	$0.19-17.4%	$0.23-68.5%	$0.73+204.2%	$0.24-58.6%	$0.58
Diluted Shares (Avg)	N/A	94M-1.8%	96M	49M	8M	80M+2.5%	78M+0.2%	78M-50.6%	157M	151M	61M+1.7%	60M+1.0%	59M+4.2%	57M+2.9%	55M+0.7%	55M

Metric	Q2'2710-Q	Q1'2710-Q	Q4'2610-Q	Q3'2610-Q	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q
Revenue	$58.4M+12.7%	$34.0M-2.6%	$93.1M+7.9%	$63.4M+1.6%	$51.8M-5.3%	$34.9M-6.7%	$86.3M-5.0%	$62.4M+152.6%
Cost of Revenue	$3.7M+15.6%	$4.0M+29.0%	$3.5M+12.9%	$3.2M-3.0%	$3.2M-13.5%	$3.1M-13.9%	$3.1M-13.9%	$3.3M+26.9%
Gross Profit	$54.7M+12.6%	$30.0M-5.7%	$89.6M+7.7%	$60.2M+1.9%	$48.6M-4.7%	$31.8M-5.9%	$83.2M-4.6%	$59.1M+167.4%
SG&A Expenses	$10.8M+1.9%	$13.3M+3.1%	$12.0M+10.1%	$10.6M-17.8%	$10.6M-20.9%	$12.9M-4.4%	$10.9M-34.7%	$12.9M+76.7%
Operating Income	-$12.8M-6.7%	-$26.9M-12.6%	$23.8M+19.0%	-$1.8M+76.0%	-$12.0M-29.0%	-$23.9M-5.3%	$20.0M-2.4%	-$7.5M+39.0%
Interest Expense	$200K+100.0%	$200K0.0%	$200K-60.0%	$100K-75.0%	$100K-75.0%	$200K-50.0%	$500K0.0%	$400K+33.3%
Income Tax	$0	$0	$0-100.0%	$0	$0	$0	$200K	$0
Net Income	-$9.9M+7.5%	-$28.6M+6.8%	$29.2M+18.2%	$1.6M+144.4%	-$10.7M-23.0%	-$30.7M+11.5%	$24.7M	-$3.6M-102.0%
EPS (Basic)	-$0.110.0%	-$0.31+3.1%	$0.31+19.2%	$0.02+150.0%	-$0.11-22.2%	-$0.32+11.1%	$0.26+103.8%	-$0.04-101.4%
EPS (Diluted)	-$0.110.0%	-$0.31+3.1%	$0.31+19.2%	$0.02+150.0%	-$0.11-22.2%	-$0.32+11.1%	$0.26+104.1%	-$0.04-101.4%
Diluted Shares (Avg)	94M-0.3%	93M-2.3%	N/A	94M-1.0%	94M-2.5%	95M-1.6%	N/A	95M+51.6%

Not reported in any period shown, so not listed: R&D Expenses, EBITDA.

NCMI Balance Sheet

NCMI quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Total Assets	$490.6M-13.7%	$568.6M+0.2%	$567.7M-28.4%	$792.4M-3.1%	$817.4M-7.8%	$886.2M-21.6%	$1.1B-1.0%	$1.1B-2.7%	$1.2B+2.7%	$1.1B+6.4%	$1.1B+8.3%	$991.4M-7.1%	$1.1B+31.7%	$810.5M-1.2%	$820.2M
Current Assets	$138.1M-22.4%	$177.9M+23.7%	$143.8M-12.5%	$164.4M+3.8%	$158.4M-20.8%	$199.9M-21.4%	$254.3M+10.1%	$230.9M+8.6%	$212.6M-3.8%	$221.1M+8.6%	$203.6M+18.1%	$172.4M-35.1%	$265.5M+20.3%	$220.7M+19.9%	$184.0M
Cash & Equivalents	$34.6M-53.9%	$75.1M+117.1%	$34.6M-43.9%	$61.7M-39.0%	$101.2M-43.9%	$180.3M+222.5%	$55.9M+35.0%	$41.4M+37.1%	$30.2M+31.3%	$23.0M-27.4%	$31.7M+136.6%	$13.4M-75.5%	$54.7M-24.4%	$72.4M+9.9%	$65.9M
Short-Term Investments	$0-100.0%	$100K	$0-100.0%	$700K+133.3%	$300K0.0%	$300K-98.3%	$17.5M-27.1%	$24.0M+83.2%	$13.1M-49.8%	$26.1M+97.7%	$13.2M-39.2%	$21.7M-69.6%	$71.3M+108.5%	$34.2M+140.8%	$14.2M
Accounts Receivable	$96.5M+13.1%	$85.3M-11.7%	$96.6M+5.0%	$92.0M+73.6%	$53.0M+227.2%	$16.2M-90.5%	$170.8M+13.9%	$149.9M-6.7%	$160.6M+0.1%	$160.5M+7.8%	$148.9M+27.8%	$116.5M-3.2%	$120.4M+22.2%	$98.5M-0.1%	$98.6M
Long-Term Investments	$8.1M+113.2%	$3.8M	$0-100.0%	$300K-70.0%	$1.0M-16.7%	$1.2M-84.0%	$7.5M-26.5%	$10.2M-37.0%	$16.2M-17.3%	$19.6M-51.6%	$40.5M-11.0%	$45.5M	$0	$0-100.0%	$18.0M
Goodwill	$500K	$0	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$115.2M-26.8%	$157.4M+18.2%	$133.2M-89.4%	$1.3B+4.6%	$1.2B-11.7%	$1.4B-10.0%	$1.5B0.0%	$1.5B-1.7%	$1.5B+2.3%	$1.5B+1.4%	$1.5B+5.8%	$1.4B+15.3%	$1.2B+4.0%	$1.2B0.0%	$1.2B
Current Liabilities	$62.1M-15.5%	$73.5M+25.9%	$58.4M-95.1%	$1.2B+1623.6%	$69.8M+39.6%	$50.0M-58.2%	$119.5M+8.1%	$110.5M+0.7%	$109.7M-9.0%	$120.6M-3.3%	$124.7M+16.3%	$107.2M-18.5%	$131.5M+44.3%	$91.1M-21.2%	$115.6M
Non-Current Liabilities	$53.1M-36.7%	$83.9M+12.2%	$74.8M+40.3%	$53.3M-95.3%	$1.1B+2.4%	$1.1B-2.4%	$1.1B+1.0%	$1.1B-1.6%	$1.1B0.0%	$1.1B+1.6%	$1.1B+2.5%	$1.1B+1.0%	$1.1B+0.6%	$1.1B+2.3%	$1.1B
Long-Term Debt	$12.0M+20.0%	$10.0M0.0%	$10.0M	N/A	$1.1B+4.3%	$1.0B+13.6%	$923.9M+0.3%	$920.9M-0.3%	$923.3M-0.1%	$924.3M-0.1%	$925.4M+3.7%	$892.0M+1.8%	$876.0M-0.3%	$879.0M+10.7%	$794.0M
Total Equity	$375.4M-8.7%	$411.2M-5.4%	$434.5M+184.3%	-$515.3M+2.2%	-$526.7M-11.3%	-$473.1M-24.7%	-$379.5M-3.1%	-$368.0M-1.5%	-$362.5M-1.2%	-$358.2M+12.0%	-$407.0M+0.3%	-$408.2M-15.2%	-$354.3M+19.3%	-$439.1M-2.6%	-$427.9M
Retained Earnings	$236.4M-15.8%	$280.9M-11.3%	$316.6M+185.5%	-$370.4M-11.6%	-$332.0M-24.6%	-$266.4M-55.7%	-$171.1M-11.4%	-$153.6M-18.0%	-$130.2M+47.6%	-$248.3M-33.4%	-$186.1M-8.8%	-$171.0M-113.8%	-$80.0M-13.5%	-$70.5M-102.0%	-$34.9M

Metric	Q2'2710-Q	Q1'2710-Q	Q4'2610-Q	Q3'2610-Q	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q
Total Assets	$446.3M-3.4%	$468.7M-7.0%	$490.6M-13.7%	$451.9M-14.1%	$462.0M-12.4%	$503.8M-6.5%	$568.6M+0.2%	$526.1M-2.4%
Current Assets	$111.6M+10.5%	$125.8M+1.3%	$138.1M-22.4%	$95.7M-23.8%	$101.0M-13.2%	$124.2M+5.8%	$177.9M+23.7%	$125.6M+21.5%
Cash & Equivalents	$43.1M+15.9%	$48.6M-18.6%	$34.6M-53.9%	$29.9M-39.5%	$37.2M-30.9%	$59.7M+4.6%	$75.1M+117.1%	$49.4M+187.2%
Short-Term Investments	$0	$0-100.0%	$0-100.0%	$0-100.0%	$0	$100K	$100K	$100K
Accounts Receivable	$62.0M+8.6%	$70.1M+50.1%	$96.5M+13.1%	$59.1M-5.9%	$57.1M+12.6%	$46.7M-3.9%	$85.3M-11.7%	$62.8M-9.4%
Long-Term Investments	$9.5M+120.9%	$8.9M+128.2%	$8.1M+113.2%	$7.1M+446.2%	$4.3M+330.0%	$3.9M+290.0%	$3.8M	$1.3M
Goodwill	$600K	$500K	$500K	N/A	N/A	N/A	$0	N/A
Total Liabilities	$112.0M0.0%	$123.9M-6.8%	$115.2M-26.8%	$101.4M-27.9%	$112.0M-19.6%	$133.0M-2.4%	$157.4M+18.2%	$140.6M+8.4%
Current Liabilities	$60.7M+4.8%	$69.3M+27.6%	$62.1M-15.5%	$50.5M-1.2%	$57.9M+21.9%	$54.3M+27.8%	$73.5M+25.9%	$51.1M-1.4%
Non-Current Liabilities	$51.3M-5.2%	$54.6M-30.6%	$53.1M-36.7%	$50.9M-43.1%	$54.1M-41.1%	$78.7M-16.1%	$83.9M+12.2%	$89.5M+14.9%
Long-Term Debt	$12.0M	$12.0M	$12.0M+20.0%	$0-100.0%	$0-100.0%	$0-100.0%	$10.0M0.0%	$10.0M0.0%
Total Equity	$334.3M-4.5%	$344.8M-7.0%	$375.4M-8.7%	$350.5M-9.1%	$350.0M-9.8%	$370.8M-7.8%	$411.2M-5.4%	$385.5M-5.8%
Retained Earnings	$191.3M-10.9%	$204.3M-14.1%	$236.4M-15.8%	$213.5M-17.3%	$214.8M-18.6%	$237.9M-15.6%	$280.9M-11.3%	$258.3M-11.8%

Not reported in any period shown, so not listed: Inventory.

NCMI Cash Flow Statement

NCMI quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Cash Flow	$23.9M	$8.4M-86.1%	$60.3M+1000.0%	-$6.7M+85.8%	-$47.3M+50.3%	-$95.2M-272.2%	$55.3M-61.5%	$143.6M-4.5%	$150.3M+8.2%	$138.9M+4.0%	$133.5M+26.8%	$105.3M-10.7%	$117.9M-23.0%	$153.1M+87.6%	$81.6M-49.6%	$161.8M
Depreciation & Amortization	N/A	N/A	N/A	N/A	$6.5M-40.4%	$10.9M-16.8%	$13.1M-3.7%	$13.6M+7.9%	$12.6M+14.5%	$11.0M-69.3%	$35.8M+11.2%	$32.2M-0.6%	$32.4M+21.8%	$26.6M+30.4%	$20.4M+8.5%	$18.8M
Stock-Based Compensation	N/A	$9.3M-23.8%	$12.2M+171.1%	$4.5M-36.6%	$7.1M-12.3%	$8.1M+268.2%	$2.2M-60.0%	$5.5M-29.5%	$7.8M-30.4%	$11.2M-38.8%	$18.3M+23.6%	$14.8M+92.2%	$7.7M+30.5%	$5.9M-34.4%	$9.0M-23.7%	$11.8M
Capital Expenditures	$4.2M	$5.6M-3.4%	$5.8M+75.8%	$3.3M+13.8%	$2.9M-49.1%	$5.7M-28.7%	$8.0M-42.9%	$14.0M-1.4%	$14.2M+22.4%	$11.6M-10.1%	$12.9M+2.4%	$12.6M+44.8%	$8.7M-13.9%	$10.1M-2.9%	$10.4M-23.0%	$13.5M
Free Cash Flow	$19.7M	$2.8M-94.9%	$54.5M+645.0%	-$10.0M+80.1%	-$50.2M+50.2%	-$100.9M-313.3%	$47.3M-63.5%	$129.6M-4.8%	$136.1M+6.9%	$127.3M+5.6%	$120.6M+30.1%	$92.7M-15.1%	$109.2M-23.6%	$143.0M+100.8%	$71.2M-52.0%	$148.3M
Investing Cash Flow	-$14.1M	-$15.4M-170.2%	-$5.7M-117.5%	$32.6M	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-$55.9M-188.1%	-$19.4M+63.5%	-$53.1M
Financing Cash Flow	-$4.0M	-$33.5M-137.6%	-$14.1M+72.9%	-$52.1M	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	-$114.9M-106.3%	-$55.7M+52.5%	-$117.2M
Dividends Paid	$11.4M	$11.4M+3700.0%	$300K-40.0%	$500K-94.7%	$9.5M-43.8%	$16.9M-47.2%	$32.0M-40.3%	$53.6M-1.5%	$54.4M-7.3%	$58.7M+7.5%	$54.6M+4.4%	$52.3M-35.4%	$81.0M+64.6%	$49.2M+1.0%	$48.7M+7.5%	$45.3M
Share Buybacks	$4.5M	$22.0M+67.9%	$13.1M	$0	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q2'2710-Q	Q1'2710-Q	Q4'2610-Q	Q3'2610-Q	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q
Operating Cash Flow	-$1.5M+69.4%	$18.1M+201.7%	$8.3M-72.8%	-$1.0M+50.0%	-$4.9M-163.6%	$6.0M-75.1%	$30.5M+95.5%	-$2.0M+92.5%
Stock-Based Compensation	$2.4M-17.2%	$1.7M-37.0%	N/A	$1.7M-45.2%	$2.9M-17.1%	$2.7M+3.8%	N/A	$3.1M+210.0%
Capital Expenditures	$700K-58.8%	$300K-57.1%	$2.2M-8.3%	$1.0M+66.7%	$1.7M+30.8%	$700K-53.3%	$2.4M+50.0%	$600K0.0%
Free Cash Flow	-$2.2M+66.7%	$17.8M+235.8%	$6.1M-78.3%	-$2.0M+23.1%	-$6.6M-203.1%	$5.3M-76.5%	$28.1M+100.7%	-$2.6M+90.5%
Investing Cash Flow	-$1.0M+41.2%	-$100K+85.7%	-$9.6M-242.9%	-$3.4M-580.0%	-$1.7M-54.5%	-$700K+46.2%	-$2.8M-180.0%	-$500K-101.5%
Financing Cash Flow	-$3.0M+81.4%	-$4.0M+80.4%	$6.0M+400.0%	-$3.0M-57.9%	-$16.1M-62.6%	-$20.4M-6700.0%	-$2.0M	-$1.9M-1800.0%
Dividends Paid	$2.9M-49.1%	$2.8M	$2.9M	$2.8M	$5.7M	$0-100.0%	$0	$0-100.0%
Share Buybacks	$200K-98.0%	$1.0M-88.6%	$3.3M+65.0%	$0-100.0%	$9.9M+380769130.8%	$8.8M	$2.0M	$1.9M

Not reported in any period shown, so not listed: Depreciation & Amortization.

NCMI Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

NCMI quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Gross Margin	94.7%+0.3pp	94.3%+0.7pp	93.6%	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	-5.7%+2.4pp	-8.1%+8.4pp	-16.5%-19.3pp	2.8%+62.6pp	-59.9%+7.6pp	-67.5%-103.7pp	36.3%+1.3pp	35.0%-1.2pp	36.1%-2.5pp	38.6%+5.5pp	33.1%-5.3pp	38.5%-5.1pp	43.6%+0.9pp	42.7%-1.8pp	44.5%
Net Margin	-4.4%+4.9pp	-9.3%	426.9%	-11.5%+31.0pp	-42.5%+29.9pp	-72.4%-80.5pp	8.1%+1.4pp	6.8%-6.9pp	13.7%+6.3pp	7.3%+4.8pp	2.5%-0.9pp	3.4%-5.5pp	8.9%+5.9pp	3.0%-4.2pp	7.2%
Return on Equity	-2.8%+2.6pp	-5.4%-167.7pp	162.3%	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-2.2%+1.8pp	-3.9%-128.1pp	124.2%+127.8pp	-3.6%+2.3pp	-6.0%+1.4pp	-7.4%-10.6pp	3.2%+0.6pp	2.6%-2.4pp	5.0%+2.1pp	2.9%+1.8pp	1.1%-0.3pp	1.4%-2.5pp	3.9%+2.2pp	1.7%-2.2pp	3.8%
Current Ratio	2.22-0.2x	2.420.0x	2.46+2.3x	0.14-2.1x	2.27-1.7x	4.00+1.9x	2.130.0x	2.09+0.2x	1.94+0.1x	1.83+0.2x	1.630.0x	1.61-0.4x	2.02-0.4x	2.42+0.8x	1.59
Debt-to-Equity	0.030.0x	0.020.0x	0.02	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Asset Turnover	0.50+0.1x	0.42+0.1x	0.290.0x	0.31+0.2x	0.140.0x	0.10-0.3x	0.390.0x	0.390.0x	0.360.0x	0.390.0x	0.420.0x	0.400.0x	0.43-0.1x	0.550.0x	0.53
FCF Margin	1.1%-21.5pp	22.6%+28.7pp	-6.0%+14.1pp	-20.1%+67.9pp	-88.0%-140.4pp	52.3%+23.2pp	29.1%-1.7pp	30.8%+1.0pp	29.9%+2.9pp	26.9%+6.2pp	20.8%-7.0pp	27.7%-3.2pp	30.9%+15.0pp	15.9%-18.2pp	34.1%

Metric	Q2'2710-Q	Q1'2710-Q	Q4'2610-Q	Q3'2610-Q	Q2'2610-Q	Q1'2610-Q	Q4'2510-K	Q3'2510-Q
Gross Margin	93.7%-0.2pp	88.2%-2.9pp	96.2%-0.2pp	95.0%+0.2pp	93.8%+0.6pp	91.1%+0.8pp	96.4%+0.4pp	94.7%+5.2pp
Operating Margin	-21.9%+1.2pp	-79.1%-10.6pp	25.6%+2.4pp	-2.8%+9.2pp	-23.2%-6.2pp	-68.5%-7.8pp	23.2%+0.6pp	-12.0%+37.8pp
Net Margin	-17.0%+3.7pp	-84.1%+3.9pp	31.4%+2.7pp	2.5%+8.3pp	-20.7%-4.8pp	-88.0%+4.8pp	28.6%	-5.8%
Return on Equity	-3.0%+0.1pp	-8.3%0.0pp	7.8%+1.8pp	0.5%+1.4pp	-3.1%-0.8pp	-8.3%+0.4pp	6.0%	-0.9%-45.3pp
Return on Assets	-2.2%+0.1pp	-6.1%0.0pp	5.9%+1.6pp	0.4%+1.0pp	-2.3%-0.7pp	-6.1%+0.3pp	4.3%	-0.7%-34.4pp
Current Ratio	1.84+0.1x	1.82-0.5x	2.22-0.2x	1.90-0.6x	1.74-0.7x	2.29-0.5x	2.420.0x	2.46+0.5x
Debt-to-Equity	0.040.0x	0.030.0x	0.030.0x	0.000.0x	0.000.0x	0.000.0x	0.020.0x	0.030.0x
Asset Turnover	0.130.0x	0.070.0x	0.190.0x	0.140.0x	0.110.0x	0.070.0x	0.150.0x	0.12+0.1x
FCF Margin	-3.8%+9.0pp	52.3%+37.2pp	6.6%-26.0pp	-3.1%+1.0pp	-12.7%-24.4pp	15.2%-45.2pp	32.6%+17.1pp	-4.2%

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
National CineMedia, Inc. NCMI	FY2025	$243.2M	-$10.6M	-4.4%	$192.8M	57/100
AirNet Technology Inc. ANTE	FY2025	$28.2M	-$28.1M	-99.7%	$385.3M	82/100
Clear Channel Outdoor Holdings, Inc. CCO	FY2025	$1.6B	$19.9M	1.2%	$1.2B	41/100
Nexxen International Ltd. NEXN	FY2025	$364.8M	$25.0M	6.9%	$509.1M	44/100
Advantage Solutions Inc. ADV	FY2025	$3.5B	-$227.7M	-6.4%	$355.2M	28/100
Emerald Holding, Inc. EEX	FY2025	$463.4M	-$30.7M	-6.6%	$997.5M	42/100

Where National CineMedia, Inc. Ranks

Frequently Asked Questions

What is National CineMedia, Inc.'s annual revenue?

National CineMedia, Inc. (NCMI) reported $243.2M in total revenue for fiscal year 2025. This represents a 1.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is National CineMedia, Inc.'s revenue growing?

National CineMedia, Inc. (NCMI) revenue grew by 1.0% year-over-year, from $240.8M to $243.2M in fiscal year 2025.

Is National CineMedia, Inc. profitable?

No, National CineMedia, Inc. (NCMI) reported a net income of -$10.6M in fiscal year 2025, with a net profit margin of -4.4%.

How much debt does National CineMedia, Inc. have?

As of fiscal year 2025, National CineMedia, Inc. (NCMI) had $34.6M in cash and equivalents against $12.0M in long-term debt.

What is National CineMedia, Inc.'s gross margin?

National CineMedia, Inc. (NCMI) had a gross margin of 94.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is National CineMedia, Inc.'s operating margin?

National CineMedia, Inc. (NCMI) had an operating margin of -5.7% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is National CineMedia, Inc.'s net profit margin?

National CineMedia, Inc. (NCMI) had a net profit margin of -4.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does National CineMedia, Inc. pay dividends?

Yes, National CineMedia, Inc. (NCMI) paid $0.12 per share in dividends during fiscal year 2025.

What is National CineMedia, Inc.'s return on equity (ROE)?

National CineMedia, Inc. (NCMI) has a return on equity of -2.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is National CineMedia, Inc.'s free cash flow?

National CineMedia, Inc. (NCMI) generated $2.8M in free cash flow during fiscal year 2025. This represents a -94.9% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is National CineMedia, Inc.'s operating cash flow?

National CineMedia, Inc. (NCMI) generated $8.4M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are National CineMedia, Inc.'s total assets?

National CineMedia, Inc. (NCMI) had $490.6M in total assets as of fiscal year 2025, including both current and long-term assets.

What are National CineMedia, Inc.'s capital expenditures?

National CineMedia, Inc. (NCMI) invested $5.6M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does National CineMedia, Inc. spend on research and development?

National CineMedia, Inc. (NCMI) invested $3.1M in research and development during fiscal year 2025.

Does National CineMedia, Inc. buy back shares?

Yes, National CineMedia, Inc. (NCMI) spent $22.0M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does National CineMedia, Inc. have outstanding?

National CineMedia, Inc. (NCMI) had 93M shares outstanding as of fiscal year 2025.

What is National CineMedia, Inc.'s current ratio?

National CineMedia, Inc. (NCMI) had a current ratio of 2.22 as of fiscal year 2025, which is generally considered healthy.

What is National CineMedia, Inc.'s debt-to-equity ratio?

National CineMedia, Inc. (NCMI) had a debt-to-equity ratio of 0.03 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is National CineMedia, Inc.'s return on assets (ROA)?

National CineMedia, Inc. (NCMI) had a return on assets of -2.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is National CineMedia, Inc.'s P/E ratio?

National CineMedia, Inc. (NCMI) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to July 2, 2026). The market capitalization is $192.8M as of Oct 21, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is National CineMedia, Inc.'s price-to-sales ratio?

National CineMedia, Inc. (NCMI) trades at 0.8x sales, its market capitalization divided by revenue of $248.9M revenue, trailing 12 months to July 2, 2026. The market capitalization is $192.8M as of Oct 21, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is National CineMedia, Inc.'s Altman Z-Score?

National CineMedia, Inc. (NCMI) has an Altman Z-Score of 2.27, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is National CineMedia, Inc.'s Piotroski F-Score?

National CineMedia, Inc. (NCMI) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are National CineMedia, Inc.'s earnings high quality?

National CineMedia, Inc. (NCMI) reported a net loss of $10.6M while generating $8.4M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can National CineMedia, Inc. cover its interest payments?

National CineMedia, Inc. (NCMI) reported an operating loss of $13.9M against $600K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is National CineMedia, Inc.?

National CineMedia, Inc. (NCMI) scores 57 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.