NASDAQ · Financial Statements

National CineMedia, Inc. (NCMI) Financial Statements

$1.89 NASDAQ: NCMI Market Cap $177.79M

National CineMedia, Inc. most recently reported annual revenue of $243.0M, a net loss of $11.0M. Revenue grew at an average annual rate of 22.0% over the last 5 fiscal years. See the full income statement, balance sheet, and cash flow statement below, plus valuation and return ratios.

National CineMedia, Inc.: Revenue fell from $448.0M in 2016 to $243.0M in 2025, a change of -45.8% over 9 years; net profit was positive in 5 of 10 reported years; operating margin moved from 38.6% to -5.7%, a shift of -44.4 percentage points; the most recent year shows a net loss of $11.0M.

Income Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Revenue$448.0M$426.0M$441.0M$445.0M$90.0M$115.0M$249.0M$165.0M$241.0M$243.0M
Operating Expenses$275.0M$272.0M$287.0M$284.0M$151.0M$183.0M$242.0M$193.0M$260.0M$257.0M
Operating Profit$173.0M$154.0M$154.0M$161.0M$-61.0M$-69.0M$7.0M$-27.0M$-19.0M$-14.0M
Operating Margin38.6%36.1%35.0%36.3%-67.5%-59.9%2.8%-16.5%-8.1%-5.7%
Other Income$-64.0M$141.0M$-51.0M$-62.0M$97.0M$-50.0M$-73.0M$724.0M$-3.0M$3.0M
Interest$54.0M$53.0M$55.0M$58.0M$56.0M$65.0M$80.0M$28.0M$2.0M$1.0M
Depreciation$36.0M$38.0M$40.0M$40.0M$38.0M$36.0M$32.0M$26.0M$42.0M$38.0M
Profit Before Tax$109.0M$295.0M$104.0M$99.0M$36.0M$-118.0M$-66.0M$697.0M$-22.0M$-11.0M
Tax$13.2M$61.2M$22.7M$12.5M$451.8M$0$0$0$-900,000$0
Net Profit$33.0M$58.0M$30.0M$36.0M$-65.0M$-49.0M$-29.0M$705.0M$-22.0M$-11.0M
EPS$5.40$4.77$3.68$4.60$-8.39$-6.10$-3.49$14.52$-0.23$-0.11
Dividend Payout0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%

Quarterly Results — Last 12 Quarters (USD millions)

8 duplicate period labels in the source data were collapsed.

MetricJun '23Sep '23Dec '23Mar '24Jun '24Sep '24Dec '24Mar '25Jun '25Sep '25Mar '26Jun '26
Revenue$15.0M$25.0M$91.0M$37.0M$55.0M$62.0M$86.0M$35.0M$52.0M$63.0M$93.0M$34.0M
Operating Expenses$20.0M$37.0M$70.0M$60.0M$64.0M$70.0M$66.0M$59.0M$64.0M$65.0M$69.0M$61.0M
Operating Profit$-5.0M$-12.0M$20.0M$-23.0M$-9.0M$-7.0M$20.0M$-24.0M$-12.0M$-2.0M$24.0M$-27.0M
Operating Margin-33.1%-49.8%22.5%-60.7%-17.0%-12.0%23.1%-68.5%-23.2%-2.8%25.5%-79.1%
Interest$3.0M$0$0$0$0$0$0$0$0$0$0$0
Profit Before Tax$545.0M$182.0M$24.0M$-35.0M$-9.0M$-4.0M$25.0M$-31.0M$-11.0M$2.0M$29.0M$-29.0M
Tax$0$0$0$0$0$0$800,000$0$0$0$0$0
Net Profit$545.0M$182.0M$24.0M$-35.0M$-9.0M$-4.0M$25.0M$-31.0M$-11.0M$2.0M$29.0M$-29.0M
EPS$31.33$2.89$0.24$-0.36$-0.09$-0.04$0.25$-0.32$-0.11$0.02$0.31$-0.31

Over the 10 years reported for National CineMedia, Inc., borrowings decreased from $924.0M in 2016 to $23.0M in 2025, cash stood at $75.0M in the latest year, shareholders' equity was $3.0M, current assets covered current liabilities 2.41 times.

Balance Sheet — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Total Assets$1.1B$1.4B$1.1B$1.1B$886.0M$817.0M$792.0M$568.0M$569.0M$569.0M
Current Assets$221.0M$213.0M$231.0M$254.0M$200.0M$158.0M$164.0M$144.0M$178.0M$178.0M
Cash$23.0M$30.0M$41.0M$56.0M$180.0M$101.0M$64.0M$35.0M$75.0M$75.0M
Inventory$-16.0M$0$-10.0M$0$0$0$0$0$0$0
Receivables$169.0M$165.0M$162.0M$177.0M$14.0M$53.0M$92.0M$97.0M$85.0M$85.0M
Fixed Assets$30.0M$31.0M$34.0M$55.0M$28.0M$40.0M$30.0M$20.0M$16.0M$16.0M
Capital Work in Progress$0$0$0$0$0$0$0$0$0$0
Investments$52.0M$33.0M$37.0M$26.0M$2.0M$2.0M$2.0M$1.0M$4.0M$4.0M
Other Assets$0$0$0$0$0$0$0$0$0$0
Total Liabilities$1.3B$1.2B$1.2B$1.3B$1.2B$1.2B$1.3B$133.0M$157.0M$157.0M
Current Liabilities$121.0M$110.0M$111.0M$120.0M$50.0M$70.0M$1.2B$58.0M$74.0M$74.0M
Borrowings$924.0M$923.0M$924.0M$952.0M$1.1B$1.1B$1.1B$16.0M$24.0M$23.0M
Other Liabilities$335.0M$325.0M$307.0M$299.0M$78.0M$81.0M$115.0M$117.0M$133.0M$135.0M
Equity$1.0M$1.0M$1.0M$1.0M$1.0M$1.0M$1.0M$3.0M$3.0M$3.0M
Reserves$-358.0M$-362.0M$-368.0M$-379.0M$-473.0M$-527.0M$-515.0M$435.0M$411.0M$411.0M

For National CineMedia, Inc., operating cash flow was positive in 7 of 10 reported years; free cash flow in the latest year was $3.0M; free cash flow was positive in 7 of 10 years; financing activities used $23.0M in the latest year, which covers debt repayment, dividends and buybacks.

Cash Flow Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Operating Cash Flow$134.0M$139.0M$150.0M$144.0M$55.0M$-95.0M$-47.0M$-7.0M$60.0M$8.0M
Investing Cash Flow$-19.0M$-5.0M$-30.0M$-12.0M$8.0M$-11.0M$-3.0M$29.0M$-11.0M$-21.0M
Financing Cash Flow$-7.0M$-78.0M$-69.0M$-6.0M$-2.0M$-9.0M$-7.0M$-51.0M$-14.0M$-23.0M
Net Cash Flow$-9.0M$7.0M$11.0M$15.0M$124.0M$-79.0M$-37.0M$-26.0M$41.0M$-40.0M
Free Cash Flow$118.0M$125.0M$136.0M$130.0M$47.0M$-101.0M$-50.0M$-10.0M$55.0M$3.0M

Valuation & Return Ratios

MetricValue
PEG Ratio-0.28
EV / EBITDA5.98
FCF Yield10.76%
Quick Ratio1.84
Interest Coverage-35.40
Return 1Y-24.31%
Return 3Y11.54%
Return 5Y-87.89%

National CineMedia, Inc. (NCMI) financials — frequently asked questions

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

National CineMedia, Inc. (NCMI) reported annual revenue of $243.0M in its most recent fiscal year.

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

National CineMedia, Inc. (NCMI) reported a net loss of $11.0M in its most recent fiscal year.

What is NCMI EV/EBITDA?

National CineMedia, Inc.'s enterprise value to EBITDA (EV/EBITDA) ratio is 5.98.

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