National CineMedia, Inc. (NCMI) Financial Ratios
20 years of historical data (2006–2025) · Communication Services · Advertising Agencies
EV/EBITDA
↓
12.23
↓-46% vs avg
5yr avg: 22.54
30Y Low6.2·High28.6
P/FCF
↑
123.60
↑+73% vs avg
5yr avg: 71.35
30Y Low3.6·High130.8
P/B Ratio
↑
0.85
↓-13% vs avg
5yr avg: 0.98
30Y Low0.5·High18.2
ROE
↓
-2.6%
↑-105% vs avg
5yr avg: 51.5%
30Y Low-300%·High162%
Debt/EBITDA
↓
0.94
↓-91% vs avg
5yr avg: 10.57
30Y Low0.9·High29.7
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
NCMI Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
National CineMedia, Inc. currently has a negative P/E ratio, indicating the company is operating at a loss on a trailing-twelve-month basis. On a free-cash-flow basis, the stock trades at 123.6x P/FCF, 73% above the 5-year average of 71.4x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $346M | $366M | $646M | $210M | $20M | $220M | $290M | $567M | $524M | $451M | $893M |
| Enterprise Value | $293M | $314M | $595M | $191M | $1.1B | $1.2B | $1.2B | $1.5B | $1.4B | $1.3B | $1.7B |
| P/E Ratio → | -33.73 | — | — | 0.30 | — | — | — | 6.54 | 34.29 | 285.83 | 35.07 |
| P/S Ratio | 1.42 | 1.51 | 2.68 | 1.27 | 0.08 | 1.92 | 3.21 | 1.27 | 1.19 | 1.06 | 1.99 |
| P/B Ratio | 0.85 | 0.89 | 1.57 | 0.48 | — | — | — | — | 2.76 | 1.56 | 14.80 |
| P/FCF | 123.60 | 130.85 | 11.86 | — | — | — | 6.13 | 4.38 | 3.85 | 3.60 | 7.55 |
| P/OCF | 41.20 | 43.62 | 10.72 | — | — | — | 5.24 | 3.95 | 3.49 | 3.25 | 6.69 |
P/E links to full P/E history page with 30-year chart
NCMI EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
National CineMedia, Inc.'s enterprise value stands at 12.2x EBITDA, 46% below its 5-year average of 22.5x. The Communication Services sector median is 9.0x, placing the stock at a 35% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.29 | 2.47 | 1.16 | 4.40 | 10.81 | 13.12 | 3.29 | 3.11 | 3.09 | 3.91 |
| EV / EBITDA | 12.23 | 13.07 | 25.99 | — | 28.57 | — | — | 7.26 | 7.07 | 6.86 | 8.37 |
| EV / EBIT | — | — | — | 0.26 | 81.26 | — | 12.94 | 9.31 | 8.62 | 3.78 | 10.73 |
| EV / FCF | — | 112.06 | 10.92 | — | — | — | 25.08 | 11.29 | 10.09 | 10.50 | 14.78 |
NCMI Profitability
Margins and return-on-capital ratios measuring operating efficiency
National CineMedia, Inc. earns an operating margin of -5.7%. Operating margins have expanded from -16.5% to -5.7% over the past 3 years, signaling improving operational efficiency. A negative ROE of -2.6% indicates the company is currently destroying shareholder equity.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 30.3% | 30.3% | 30.2% | 51.5% | 52.7% | 32.9% | 51.9% | 69.8% | 91.5% | 92.4% | 93.3% |
| Operating Margin | -5.7% | -5.7% | -8.1% | -16.5% | 2.8% | -59.9% | -67.5% | 36.3% | 35.0% | 36.1% | 38.7% |
| Net Profit Margin | -4.4% | -4.4% | -9.3% | 426.9% | -11.5% | -42.5% | -72.3% | 8.1% | 6.8% | 0.4% | 5.7% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -2.6% | -2.6% | -5.3% | 162.3% | — | — | — | 105.6% | 12.4% | 0.9% | 41.0% |
| ROA | -1.9% | -1.9% | -3.9% | 103.7% | -3.6% | -5.7% | -6.5% | 3.2% | 2.3% | 0.1% | 2.4% |
| ROIC | -2.9% | -2.9% | -3.8% | -4.0% | 0.8% | -8.1% | -6.5% | 13.3% | 10.6% | 11.2% | 14.2% |
| ROCE | -2.8% | -2.8% | -3.9% | -55.4% | 4.1% | -8.7% | -6.6% | 15.8% | 13.1% | 13.6% | 18.2% |
NCMI Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
National CineMedia, Inc. carries a Debt/EBITDA ratio of 0.9x, which is very conservative (73% below the sector average of 3.5x). The company holds a net cash position — cash of $75M exceeds total debt of $23M, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.05 | 0.05 | 0.06 | 0.04 | — | — | — | — | 4.87 | 3.19 | 15.33 |
| Debt / EBITDA | 0.94 | 0.94 | 1.06 | — | 29.72 | — | — | 4.72 | 4.76 | 4.82 | 4.43 |
| Net Debt / Equity | — | -0.13 | -0.12 | -0.04 | — | — | — | — | 4.47 | 2.98 | 14.19 |
| Net Debt / EBITDA | -2.19 | -2.19 | -2.22 | — | 28.06 | — | — | 4.45 | 4.37 | 4.51 | 4.10 |
| Debt / FCF | — | -18.79 | -0.93 | — | — | — | 18.95 | 6.92 | 6.24 | 6.90 | 7.23 |
| Interest Coverage | -23.17 | -23.17 | -12.00 | 25.97 | 0.17 | -0.83 | 1.64 | 2.71 | 2.87 | 6.58 | 3.02 |
Net cash position: cash ($75M) exceeds total debt ($23M)
NCMI Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
National CineMedia, Inc.'s current ratio of 2.42x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.42 | 2.42 | 2.42 | 2.46 | 0.14 | 2.27 | 4.00 | 2.13 | 2.09 | 1.94 | 1.83 |
| Quick Ratio | 2.42 | 2.42 | 2.42 | 2.46 | 0.14 | 2.27 | 4.00 | 2.13 | 2.18 | 2.05 | 1.97 |
| Cash Ratio | 1.02 | 1.02 | 1.02 | 0.59 | 0.05 | 1.45 | 3.61 | 0.61 | 0.68 | 0.54 | 0.57 |
| Asset Turnover | — | 0.43 | 0.42 | 0.29 | 0.31 | 0.14 | 0.10 | 0.39 | 0.39 | 0.30 | 0.42 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 128.02 | 129.30 | 213.43 | 134.75 | 168.80 | 57.74 | 145.57 | 133.63 | 141.34 | 137.41 |
NCMI Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
National CineMedia, Inc. returns 9.6% to shareholders annually — split between a 3.3% dividend yield and 6.4% buyback yield.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 3.3% | 3.1% | 0.0% | 0.2% | 48.7% | 7.7% | 23.7% | 22.1% | 10.4% | 13.0% | 13.7% |
| Payout Ratio | — | — | — | 0.1% | — | — | — | 347.6% | 182.6% | 3668.8% | 481.1% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | 336.1% | — | — | — | 15.3% | 2.9% | 0.3% | 2.9% |
| FCF Yield | 0.8% | 0.8% | 8.4% | — | — | — | 16.3% | 22.9% | 26.0% | 27.8% | 13.3% |
| Buyback Yield | 6.4% | 6.0% | 2.1% | 0.0% | 1.0% | 0.9% | 0.3% | 0.2% | 0.5% | 1.0% | 0.5% |
| Total Shareholder Yield | 9.6% | 9.1% | 2.2% | 0.2% | 49.7% | 8.6% | 24.1% | 22.4% | 10.8% | 14.1% | 14.2% |
| Shares Outstanding | — | $94M | $96M | $49M | $8M | $8M | $8M | $8M | $8M | $7M | $6M |
Peer Comparison
Compare NCMI with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 NCMIYou | $346M | -33.7 | 12.2 | 123.6 | 30.3% | -5.7% | -2.6% | -2.9% | 0.9 |
 CCO | $1B | -11.3 | 15.6 | 37.9 | 42.5% | 19.0% | — | 7.4% | 13.5 |
 OUT | $6B | 37.7 | 20.9 | 26.4 | 32.4% | 16.8% | 19.4% | 4.9% | 8.8 |
 LAMR | $15B | 26.2 | 21.0 | 20.9 | 38.2% | 30.8% | 56.7% | 8.2% | 6.0 |
 VALU | $326M | 15.8 | 40.7 | 16.3 | 58.8% | 17.1% | 21.7% | 4.5% | 0.5 |
 IPG | $9B | 13.4 | 7.5 | 9.8 | 17.0% | 11.3% | 17.3% | 14.7% | 2.9 |
 OMC | $24B | -284.9 | 10.4 | 8.6 | 17.3% | 15.0% | -0.6% | 14.5% | 4.5 |
 TPVG | $243M | 4.9 | 9.1 | — | 83.5% | 77.9% | 14.1% | 7.2% | 6.2 |
 AMC | $930M | -1.2 | 4.7 | — | 75.0% | 38.1% | — | 23.7% | 4.4 |
 CNK | $3B | 26.4 | 12.2 | 18.1 | 18.6% | 11.0% | 27.2% | 7.5% | 7.0 |
 IMAX | $2B | 56.6 | 13.1 | 16.2 | 57.9% | 23.3% | 8.7% | 12.7% | 1.9 |
| Communication Services Median | — | 15.4 | 9.0 | 11.8 | 48.3% | 0.7% | 2.2% | 3.0% | 3.5 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 20 years · Updated daily
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Start ComparisonNCMI — Frequently Asked Questions
Quick answers to the most common questions about buying NCMI stock.
What is National CineMedia, Inc.'s P/E ratio?
National CineMedia, Inc.'s current P/E ratio is -33.7x. The historical average is 34.0x.
What is National CineMedia, Inc.'s EV/EBITDA?
National CineMedia, Inc.'s current EV/EBITDA is 12.2x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 10.7x.
What is National CineMedia, Inc.'s ROE?
National CineMedia, Inc.'s return on equity (ROE) is -2.6%. The historical average is 17.1%.
Is NCMI stock overvalued?
Based on historical data, National CineMedia, Inc. is trading at a P/E of -33.7x. Compare with industry peers and growth rates for a complete picture.
What is National CineMedia, Inc.'s dividend yield?
National CineMedia, Inc.'s current dividend yield is 3.26%.
What are National CineMedia, Inc.'s profit margins?
National CineMedia, Inc. has 30.3% gross margin and -5.7% operating margin.
How much debt does National CineMedia, Inc. have?
National CineMedia, Inc.'s Debt/EBITDA ratio is 0.9x, indicating low leverage. A ratio below 2x is generally considered financially healthy.