📊 NCMI Key Takeaways
Is National CineMedia, Inc. (NCMI) a Good Investment?
NCMI is operationally unprofitable with negative returns on equity (-2.8%) and assets (-2.2%), coupled with anemic revenue growth of just 1.0% YoY. While the balance sheet remains strong with low leverage and solid liquidity, the company is destroying shareholder value and faces an unclear path to profitability without significant operational improvements.
Fundamentals show a de‑levered balance sheet with strong liquidity and modest positive free cash flow despite GAAP losses. Profitability is improving (EPS up YoY), but revenue growth is tepid and operating margin remains negative, indicating an incomplete turnaround. Sustained margin expansion and consistent cash generation are needed before a more constructive view.
Why Buy National CineMedia, Inc. Stock? NCMI Key Strengths
- Strong balance sheet with minimal debt (Debt/Equity 0.03x)
- Adequate liquidity with Current Ratio of 2.22x
- Positive free cash flow generation ($2.8M) despite operating losses
- Low leverage and ample liquidity (2.22x current ratio, 0.03x D/E)
- Positive operating and free cash flow with modest capex needs
- Improving earnings trend with narrowing losses (EPS improving YoY)
NCMI Stock Risks: National CineMedia, Inc. Investment Risks
- Sustained operating losses (-$13.9M) with negative margins indicating core business distress
- Negative shareholder returns (ROE -2.8%, ROA -2.2%) demonstrating value destruction
- Stagnant revenue growth at 1.0% YoY with extremely thin FCF margin of 1.2%
- Persistent negative operating margin and net margin
- Slow top-line growth in a cyclical ad environment with high operating leverage
- Negative interest coverage indicates earnings do not cover fixed costs
Key Metrics to Watch
- Operating margin trajectory toward profitability
- Revenue growth acceleration and per-location performance trends
- Operating cash flow sustainability and path to positive returns on capital
- Operating margin
- Free cash flow margin
National CineMedia, Inc. (NCMI) Financial Metrics & Key Ratios
💡 AI Analyst Insight
The relatively thin 1.2% FCF margin may limit capital allocation flexibility. Strong liquidity with a 2.22x current ratio provides a solid financial cushion.
NCMI Profit Margin, ROE & Profitability Analysis
NCMI vs Services Sector: How National CineMedia, Inc. Compares
How National CineMedia, Inc. compares to Services sector averages
Sector benchmarks are approximate industry averages. Actual sector performance may vary.
Is National CineMedia, Inc. Stock Overvalued? NCMI Valuation Analysis 2026
Based on fundamental analysis, National CineMedia, Inc. has mixed fundamental signals relative to the Services sector in 2026.
Note: This is a fundamental analysis based on SEC filings. For P/E ratio, price targets, and market-based valuation, consult financial data providers. This is not investment advice.
National CineMedia, Inc. Balance Sheet: NCMI Debt, Cash & Liquidity
NCMI Revenue & Earnings Growth: 5-Year Financial Trend
5-Year Trend Summary: National CineMedia, Inc.'s revenue has grown significantly by 112% over the 5-year period, indicating strong business expansion. The most recent EPS of $14.34 reflects profitable operations.
NCMI Revenue Growth, EPS Growth & YoY Performance
NCMI Quarterly Earnings & Performance
| Quarter | Revenue | Net Income | EPS |
|---|---|---|---|
| Q3 2025 | $62.4M | $1.6M | $0.02 |
| Q2 2025 | $51.8M | -$8.7M | $-0.09 |
| Q1 2025 | $34.9M | -$30.7M | $-0.32 |
| Q3 2024 | $24.7M | -$3.6M | $-0.04 |
| Q2 2024 | $14.8M | -$8.7M | $-0.09 |
| Q1 2024 | $34.9M | -$34.7M | $-0.36 |
| Q3 2023 | $24.7M | -$8.9M | $-1.09 |
| Q2 2023 | $14.8M | -$700.0K | $-0.01 |
Data sourced from SEC EDGAR 10-Q quarterly filings. Figures may represent quarterly or cumulative values.
National CineMedia, Inc. Dividends, Buybacks & Capital Allocation
NCMI SEC Filings: Latest 10-K & 10-Q Analysis
Access official SEC EDGAR filings for National CineMedia, Inc. (CIK: 0001377630)
📋 Recent SEC Filings
❓ Frequently Asked Questions about NCMI
What is the AI rating for NCMI?
National CineMedia, Inc. (NCMI) has a Combined AI Rating of SELL from Claude (SELL) and ChatGPT (HOLD) with 68% combined confidence, based on fundamental analysis of SEC EDGAR filings.
What are NCMI's key strengths?
Claude: Strong balance sheet with minimal debt (Debt/Equity 0.03x). Adequate liquidity with Current Ratio of 2.22x. ChatGPT: Low leverage and ample liquidity (2.22x current ratio, 0.03x D/E). Positive operating and free cash flow with modest capex needs.
What are the risks of investing in NCMI?
Claude: Sustained operating losses (-$13.9M) with negative margins indicating core business distress. Negative shareholder returns (ROE -2.8%, ROA -2.2%) demonstrating value destruction. ChatGPT: Persistent negative operating margin and net margin. Slow top-line growth in a cyclical ad environment with high operating leverage.
What is NCMI's revenue and growth?
National CineMedia, Inc. reported revenue of $243.2M.
Does NCMI pay dividends?
National CineMedia, Inc. pays dividends, with $11.4M distributed to shareholders in the trailing twelve months.
Where can I find NCMI SEC filings?
Official SEC filings for National CineMedia, Inc. (CIK: 0001377630) including 10-K, 10-Q, and 8-K reports are available on SEC EDGAR.
What is NCMI's EPS?
National CineMedia, Inc. has a diluted EPS of $-0.11.
How is the AI analysis conducted?
Two independent AI systems — Claude (Anthropic) and ChatGPT (OpenAI) — analyze SEC EDGAR filings including 10-K annual reports and 10-Q quarterly reports. Each AI evaluates financial health, profitability ratios, balance sheet strength, and growth metrics. The combined rating reflects both perspectives for balanced insights.
Is NCMI a good stock to buy right now?
Based on our AI fundamental analysis in April 2026, National CineMedia, Inc. has a SELL rating with 68% confidence. Review the strengths and risks sections above before making a decision. This is not investment advice.
Is NCMI stock overvalued or undervalued?
Valuation metrics for NCMI: ROE of -2.8% (sector avg: 16%), net margin of -4.4% (sector avg: 10%). Compare these metrics with sector averages to assess valuation.
Should I buy NCMI stock in 2026?
Our dual AI analysis gives National CineMedia, Inc. a combined SELL rating for 2026. Revenue is data pending, with profitability at or below sector average. Always conduct your own research.
What is NCMI's free cash flow?
National CineMedia, Inc.'s operating cash flow is $8.4M, with capital expenditures of $5.6M. FCF margin is 1.2%.
How does NCMI compare to other Services stocks?
Vs Services sector averages: Net margin -4.4% (avg: 10%), ROE -2.8% (avg: 16%), current ratio 2.22 (avg: 1.5).