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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% | - |
| 2024 | $241M | $22M | $-22M | $55M | -5.4% | 45.8% | -103.2% |
| 2023 | $165M | $750M | $705M | $-10M | 162.3% | -33.7% | - |
| 2022 | $249M | $45M | $-29M | $-50M | 6.2% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 249.20 | 165.20 | 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 |
| Operating Income | 12.70 | -27.30 | -19.50 | -13.90 |
| EBITDA | 45 | 750.10 | 22 | 27.90 |
| EBIT | 13.50 | 724.60 | -20.40 | -10 |
| Pretax Income | -66.20 | 696.70 | -22.10 | -10.60 |
| Tax Provision | 0 | 0 | 0.20 | 0 |
| Net Income | -28.70 | 705.20 | -22.30 | -10.60 |
| Net Income Common Stockholders | -28.70 | 705.20 | -22.30 | -10.60 |
| Total Expenses | 236.50 | 192.50 | 260.30 | 257.10 |
| Interest Expense | 79.70 | 27.90 | 1.70 | 0.60 |
| Interest Income | 0 | 0.10 | 2.40 | 1.40 |
| Selling General And Administration | 87.10 | 86.90 | 92.30 | 87.70 |
| Normalized EBITDA | 42.70 | -10.90 | 22 | 29.70 |
| Normalized Income | -31 | -55.80 | -22.30 | -8.80 |
| Basic EPS | -3.50 | 14.73 | -0.23 | 0 |
| Diluted EPS | -3.50 | 14.34 | -0.23 | 0 |
| Tax Effect Of Unusual Items | 0 | 0 | 0 | 0 |
| Tax Rate For Calcs | 0 | 0 | 0.21 | 0 |
| Total Unusual Items | 2.30 | 761 | 0 | -1.80 |
| Total Unusual Items Excluding Goodwill | 2.30 | 761 | 0 | -1.80 |
| Net Income From Continuing Operation Net Minority Interest | -28.70 | 705.20 | -22.30 | -10.60 |
| Reconciled Depreciation | 31.50 | 25.50 | 42.40 | 37.90 |
| Reconciled Cost Of Revenue | 117.90 | 80.10 | 125.60 | 131.50 |
| Net Interest Income | -79.70 | -27.80 | 0.70 | 0.80 |
| Net Income From Continuing And Discontinued Operation | -28.70 | 705.20 | -22.30 | -10.60 |
| Total Operating Income As Reported | 6.90 | -27.30 | -19.50 | -13.90 |
| Diluted Average Shares | 8.20 | 48.57 | 95.87 | 0 |
| Basic Average Shares | 8.20 | 47.88 | 95.87 | 0 |
| Diluted NI Availto Com Stockholders | -28.70 | 705.20 | -22.30 | -10.60 |
| Minority Interests | 37.50 | 8.50 | 0 | 0 |
| Net Income Including Noncontrolling Interests | -66.20 | 696.70 | -22.30 | -10.60 |
| Net Income Continuous Operations | -66.20 | 696.70 | -22.30 | -10.60 |
| Other Income Expense | 0.80 | 751.80 | -3.30 | 2.50 |
| Other Non Operating Income Expenses | -1.50 | -9.20 | -3.30 | 4.30 |
| Special Income Charges | 2.30 | 761 | 0 | -1.80 |
| Gain On Sale Of Ppe | 2.20 | 0.30 | 0 | 0 |
| Gain On Sale Of Business | 0 | 557.70 | 0 | 0 |
| Other Special Charges | -5.90 | 0.40 | 0 | 1.80 |
| Impairment Of Capital Assets | 5.80 | 0 | 0 | 0 |
| Restructuring And Mergern Acquisition | 0 | -203.30 | 0 | 0 |
| Net Non Operating Interest Income Expense | -79.70 | -27.80 | 0.70 | 0.80 |
| Interest Expense Non Operating | 79.70 | 27.90 | 1.70 | 0.60 |
| Interest Income Non Operating | 0 | 0.10 | 2.40 | 1.40 |
| Other Operating Expenses | 90.70 | 0 | 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 |
| 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 |
| Selling And Marketing Expense | 42.80 | 29.60 | 41.60 | 41.60 |
| General And Administrative Expense | 44.30 | 57.30 | 50.70 | 46.10 |
| Other Gand A | 44.30 | 57.30 | 50.70 | 46.10 |
| Operating Revenue | 249.20 | 155.10 | 240.80 | 243.20 |
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 | - | 0.89 | -2.8% | 13.48 |
| The E.W. Scripps Company | SSP | $408M | - | 0.48 | -8.1% | 11.29 |
| Dave & Buster's Entertainment, Inc. | PLAY | $387M | - | 4.25 | -53.4% | 9.76 |
| AMC Global Media Inc. | AMCX | $353M | 4.98 | 0.36 | 8.8% | 4.93 |
| FuboTV Inc. | FUBO | $349M |
| 3.09 |
| 1.26 |
| -95.3% |
| - |
| Getty Images Holdings, Inc. | GETY | $346M | - | 0.62 | -34.3% | 9.02 |
| Entravision Communications Corporation | EVC | $344M | - | 6.20 | -142.8% | 36.59 |
| Starz Entertainment Corp. | STRZ | $293M | - | 0.45 | -27.6% | 7.17 |
| Angi Inc. | ANGI | $289M | 7.60 | 0.31 | 4.7% | 4.13 |
| Peer Median | - | 4.98 | 0.55 | -30.9% | 9.02 | |