NCMINasdaqServices-AdvertisingFiscal year ends December 31
National CineMedia, Inc.
Financials through Q2 FY2026, quarter ended Jul 2, 2026Last filing: 10-Q on Aug 11, 2026
$2.08+0.02 (+0.97%)
Close on Oct 19, 2026
- Market cap
- $194.89M
- P/E (TTM)
- –
- Dividend yield
- 5.77%
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
94.7%
Operating margin
-5.7%+61.8 pts over 5 years
Net margin
-4.4%+68.0 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +1.0% | -0.8% | +21.9% | -5.9% | |
| Gross profit | +1.4% | – | – | – | |
| Free cash flow | -94.9% | – | -43.2% | -29.5% | |
| Dividend per share | – | +2.9% | -50.4% | -34.9% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | -8.6% | 15.3% | -2.7% | |
| Return on assets | 3.0% | -6.5% | -2.0% | |
| Current ratio | 1.83 | 4.00 | 2.22 | |
| Debt to equity | -2.58 | -2.23 | 0.03 | |
| Net debt to EBITDA | 4.32× | -18.26× | – | |
| Interest coverage | 3.2× | -1.1× | -23.2× | |
| Capex to revenue | 2.9% | 8.8% | 2.3% | |
| Diluted shares | 6M | 8M | 94M |
Where the cash went
Fiscal 2021 to 2025, five years combined
National CineMedia generated $217.90M from operations and spent $97.00M on capital expenditure, dividends and share buybacks. 24% of that went back into the business.
Generated
$217.90M
Used
$97.00M
Capital expenditure$23.30M24%Dividends$38.60M40%Share buybacks$35.10M36%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-4.4%
×Asset turnover0.46×
×Equity multiplier1.35×
=Return on equity, FY2025-2.7%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | -4.4% | 0.46× | 1.35× | -2.7% |
| FY2024 | -9.3% | 0.42× | 1.34× | -5.3% |
| FY2023 | 426.9% | 0.24× | -16.83× | -1745.5% |
| FY2022 | -11.5% | 0.31× | -1.54× | 5.5% |
| FY2021 | -42.5% | 0.13× | -1.70× | 9.7% |
| FY2020 | -72.3% | 0.09× | -2.36× | 15.3% |
| FY2019 | 8.1% | 0.39× | -3.04× | -9.7% |
| FY2018 | 6.8% | 0.38× | -3.17× | -8.2% |
| FY2017 | 13.7% | 0.37× | -3.21× | -16.2% |
| FY2016 | 7.4% | 0.40× | -2.90× | -8.6% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
6of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero-$10.60M
- Cash generatingOperating cash flow above zero$8.40M
- Return on assets improvedROA up on the prior year-3.9% → -1.9%
- Earnings backed by cashOperating cash flow above net income$8.40M vs -$10.60M
- Less leverageLong-term debt to assets fell1.8% → 2.4%
- Better liquidityCurrent ratio rose2.42 → 2.22
- No dilutionShare count did not rise96M → 94M
- Gross margin improvedGross margin up on the prior year94.31% → 94.65%
- More efficientAsset turnover rose0.42 → 0.43