National CineMedia (NCMI) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

National CineMedia

NasdaqGS•Communication Services•Advertising Agencies

$2.48-0.01(<0.01%)Market closed

Market Cap

$203.32M

P/S

0.8x

P/B

0.6x

National CineMedia, Inc., through its subsidiary, National CineMedia, LLC, operates cinema advertising network in North America. The company engages in the sale of advertising to national, regional, and local businesses in Noovie, a cinema advertising and entertainment show seen on movie screens; and sells advertising on its Lobby Entertainment Network, a series of strategically placed screens located in movie theater lobbies, as well as other forms of advertising and promotions in theatre lobbies. It also sells digital advertising, including through NCM Boost, a data, insights and analytics platform that utilizes data; NCM Boost, a audience accelerator digital product; NCM Boomerang, retargeting solution designed to amplify post-theatre engagement; NCM Bullseye, an AI-generated creative to deliver dynamic and hyper-localized messaging; and NCM Blueprint, a real-time renovation permit data to identify homeowners who are actively engaged in remodelling projects. It offers its services to national and local sales groups. The company was incorporated in 2006 and is headquartered in Centennial, Colorado.

How this company scores

WeakMetricSide Score: 54/100

Grade capped at D — Interest coverage below 1× (-22.1x) — earnings cannot cover interest. Strongest: Growth (18/25); weakest: Cash & Earnings Quality (6/25).

Profitability17/25

Growth18/25

Balance Sheet & Red Flags13/25

Cash & Earnings Quality6/25

Strengths

Long cash runwayLow leverageProfit converts from growthNet cash position

Grade capped at D

Interest coverage below 1× (-22.1x) — earnings cannot cover interest.

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 2.6x5y range 0.3x – 2.6x

Currently above its 5-quarter median.

P/S · 0.8x5y range 0.6x – 41.6x

Currently below its 20-quarter median.

P/B · 0.6x5y range 0.5x – 1.7x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Red Flag

Free cash flow has been negative in 4 of the last 8 quarters — earnings are not translating to cash.

Price & Volume

Market Cap $203.32M

Metrics at a Glance

as of July 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $248.90M
Q. Revenue: $58.40M
TTM EBITDA: $19.40M
TTM Op. Income: $-17.70M
Q. Op. Income: $-12.80M
TTM Net Income: $-7.70M
Q. Net Income: $-9.90M
EPS: $-0.11
Shares Out.: $93.70M

$248.90M in TTM revenue grew 5.7% YoY, reaching $58.40M last quarter. TTM EBITDA of $19.40M and TTM operating income of $-17.70M show growth is flowing through to the bottom line. However, net income is negative at $7.70M — growth is not yet reaching the bottom line. Over the past year, TTM revenue is up 6% — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 93.7%
EBITDA Margin: -5.7%
Op. Margin: -21.9%
Net Margin: -17.0%

Op. margin of -21.9% is up 1.2% YoY — cost efficiency is improving. Net margin at -17.0% and gross margin of 93.7% show how much of each revenue dollar survives to profit. Over the past year, operating margin is up 5% — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: N/A
P/S Ratio: 0.8x
P/B Ratio: 0.6x

P/S of 0.8x and P/B of 0.6x. P/S is low relative to typical market levels.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $446.30M
Cash: $43.10M
Long-Term Debt: $12.00M
Book Value: $334.30M
D/E Ratio: 0.0
Debt/EBITDA: N/A

With $446.30M in assets and $12.00M in long-term debt, D/E is 0.0and book value is $334.30M — a conservative capital structure with a cushion to weather downturns. Across the last 8 quarters, debt/equity has risen for 3 consecutive quarters — a weakening trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $-1.50M
TTM Free Cash Flow: $19.70M
FCF Margin: 7.9%
FCF / Net Income: -2.6

TTM FCF of $19.70M on $-1.50M in operating cash flow. The FCF / Net Income ratio of -2.6x means the business consumes cash — it is not yet self-funding. Across the last 8 quarters, free cash flow has risen for 2 consecutive quarters — an improving trend.