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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.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $243M | $28M | $-11M | $3M | -2.8% | 1.0% | -52.5% |
| 2024 | $241M | $22M | $-22M | $55M | -5.4% | 45.8% | -103.2% |
| 2023 | $165M | $750M | $705M | $-10M | 162.3% | -33.7% | -2557.1% |
| 2022 | $249M | $45M | $-29M | $-50M | 5.6% | - | - |
| 2021 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 249.20 | 165.20 | 240.80 | 243.20 |
| Operating Revenue | - | 249.20 | 155.10 | 240.80 | 243.20 |
| Cost Of Revenue | - | 117.90 | 80.10 | 125.60 | 131.50 |
| Gross Profit | - | 131.30 | 85.10 | 115.20 | 111.70 |
| Operating Expense | - | 118.60 | 112.40 | 134.70 | 125.60 |
| Selling General And Administration | - | 87.10 | 86.90 | 92.30 | 87.70 |
| Total Expenses | - | 236.50 | 192.50 | 260.30 | 257.10 |
| Operating Income | - | 12.70 | -27.30 | -19.50 | -13.90 |
| Total Operating Income As Reported | - | 6.90 | -27.30 | -19.50 | -13.90 |
| EBITDA | - | 45 | 750.10 | 22 | 27.90 |
| Normalized EBITDA | - | 42.70 | -10.90 | 22 | 29.70 |
| EBIT | - | 13.50 | 724.60 | -20.40 | -10 |
| Interest Income | 0.10 | - | 0.10 | 2.40 | 1.40 |
| Interest Expense | - | 79.70 | 27.90 | 1.70 | 0.60 |
| Net Interest Income | - | -79.70 | -27.80 | 0.70 | 0.80 |
| Other Non Operating Income Expenses | - | -1.50 | -9.20 | -3.30 | 4.30 |
| Other Income Expense | - | 0.80 | 751.80 | -3.30 | 2.50 |
| Interest Income Non Operating | 0.10 | - | 0.10 | 2.40 | 1.40 |
| Interest Expense Non Operating | - | 79.70 | 27.90 | 1.70 | 0.60 |
| Net Non Operating Interest Income Expense | - | -79.70 | -27.80 | 0.70 | 0.80 |
| Pretax Income | - | -66.20 | 696.70 | -22.10 | -10.60 |
| Tax Provision | - | 0 | 0 | 0.20 | 0 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | 0 | 0 |
| Net Income Continuous Operations | - | -66.20 | 696.70 | -22.30 | -10.60 |
| Net Income From Continuing And Discontinued Operation | - | -28.70 | 705.20 | -22.30 | -10.60 |
| Net Income From Continuing Operation Net Minority Interest | - | -28.70 | 705.20 | -22.30 | -10.60 |
| Net Income | - | -28.70 | 705.20 | -22.30 | -10.60 |
| Net Income Common Stockholders | - | -28.70 | 705.20 | -22.30 | -10.60 |
| Net Income Including Noncontrolling Interests | - | -66.20 | 696.70 | -22.30 | -10.60 |
| Normalized Income | - | -31 | -55.80 | -22.30 | -8.80 |
| Diluted NI Availto Com Stockholders | - | -28.70 | 705.20 | -22.30 | -10.60 |
| Basic Average Shares | - | 8.20 | 47.88 | 95.87 | 94.18 |
| Diluted Average Shares | - | 8.20 | 48.57 | 95.87 | 94.18 |
| Reconciled Depreciation | - | 31.50 | 25.50 | 42.40 | 37.90 |
| Reconciled Cost Of Revenue | - | 117.90 | 80.10 | 125.60 | 131.50 |
| Total Unusual Items | - | 2.30 | 761 | 0 | -1.80 |
| Total Unusual Items Excluding Goodwill | - | 2.30 | 761 | 0 | -1.80 |
| Minority Interests | - | 37.50 | 8.50 | 0 | 0 |
| Special Income Charges | - | 2.30 | 761 | 0 | -1.80 |
| Gain On Sale Of Business | - | 0 | 557.70 | 0 | 0 |
| Other Special Charges | 1.20 | -5.90 | 0.40 | - | 1.80 |
| Impairment Of Capital Assets | 0 | 5.80 | 0 | - | - |
| Restructuring And Mergern Acquisition | - | 0 | -203.30 | 0 | 0 |
| Depreciation Amortization Depletion Income Statement | - | 31.50 | 25.50 | 42.40 | 37.90 |
| Depreciation And Amortization In Income Statement | - | 31.50 | 25.50 | 42.40 | 37.90 |
| General And Administrative Expense | - | 44.30 | 57.30 | 50.70 | 46.10 |
| Other Gand A | - | 44.30 | 57.30 | 50.70 | 46.10 |
| Gain On Sale Of Ppe | 0 | 2.20 | 0.30 | - | - |
| Other Operating Expenses | 58.50 | 90.70 | - | - | - |
| Selling And Marketing Expense | - | 42.80 | 29.60 | 41.60 | 41.60 |
| Amortization | - | 25 | 22.40 | 37.80 | 33.30 |
| Amortization Of Intangibles Income Statement | - | 25 | 22.40 | 37.80 | 33.30 |
| Depreciation Income Statement | - | 6.50 | 3.10 | 4.60 | 4.60 |
Communication Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| National CineMedia, Inc.this co. | NCMI | $333M | -31.41 | 0.89 | -2.8% | 11.46 |
| ATN International, Inc. | ATNI | $398M | -26.71 | 0.90 | -3.4% | 6.27 |
| Dave & Buster's Entertainment, Inc. | PLAY | $388M | - | 4.26 | -53.4% | 9.90 |
| Getty Images Holdings, Inc. | GETY | $330M | -1.60 | 0.60 | -37.3% | 38.16 |
| The E.W. Scripps Company | SSP |
| - |
| - |
| - |
| - |
| - |
| - |
| $306M |
| -3.03 |
| 0.37 |
| -12.2% |
| 11.85 |
| FuboTV Inc. | FUBO | $299M | -1.74 | 1.52 | -87.7% | -4.54 |
| Crexendo, Inc. | CXDO | $289M | 57.05 | 4.53 | 7.9% | 29.83 |
| ZipRecruiter, Inc. | ZIP | $271M | -8.20 | -3.51 | 42.7% | 55.81 |
| Angi Inc. | ANGI | $261M | 5.96 | 0.28 | 4.7% | 3.60 |
| Peer Median | - | -1.74 | 0.75 | -7.8% | 10.88 | |