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NASDAQ NMS - GLOBAL MARKET · Media · CIK 0001377630
$1.91
-1.55% · live
Updated
$178.3M market value
From National CineMedia, Inc.'s FY2026 10-K, filed Feb 26, 2026 · read the filing
National CineMedia provides business and staffing services. It took in $243.2M last year, which makes it a smaller company. It spends more than it earns — losing about 4 cents on every dollar of sales.
The financial picture is mixed, with growth needing attention and profitability and debt weaker.
A conclusion from the filings, not a recommendation. Detailed figures and supporting evidence appear in their dedicated sections below.
Recent open-market selling by 6 insiders, not under a pre-arranged plan.
$627.5K sold in the last 120 days · Read the filing
These are things the company filed or that a published model flagged — not predictions, and not a reason on their own to buy or sell anything.
Financial health
Several areas of financial weakness.
From National CineMedia, Inc.'s FY2026 annual filing · share price scored separately
Largest year-over-year changes in FY2026
Profit
-$22.3M → -$10.6M
Free cash flow
$54.5M → $2.8M
Earnings per share
-$0.23 → -$0.11
Cash
$75.1M → $34.6M
Measured against FY2024, from the 10-K filed Feb 26, 2026
Improved: $11.7M narrower
-$22.3M to -$10.6MCritical
Why it matters: Profit swings far more than sales do, and one-off items — a legal settlement, a tax charge, an asset sale — move it without the underlying business changing.
How the latest move compares (quote live), and what was published around it
NCMI fell 1.55% on the latest quote. The average Industrials company tracked here moved +0.37%, and the S&P 500 −0.17%. That is 1.9 points below its sector and 1.4 points below the market.
These coincide with the move in time. None is presented as its cause: a price can move on news that names no company, on the wider market, or on trading that no document records.
Expectations
Not from the filings — what other people are betting on, and what the price already assumes.
Opinions from 11 analysts covering this company, as of . Their views, not this site's.
Of 11 analysts publishing on this company, 4 say strong buy, 5 say buy and 2 say hold. Analysts are paid to publish a view and are wrong often; the split above says how much they agree with each other, which is the part a single headline rating hides.
Published by Finnhub. Analyst coverage skews towards larger companies and towards optimism — sell ratings are rare across the whole market, so a company with none is ordinary rather than endorsed.
The essentials
Each answered from the filings, with the numbers behind it.
No. It lost $10.6M last year, losing about 4 cents on every dollar of sales.
Barely. Sales were roughly flat, up 1.0%.
No — it holds more cash than debt, with $22.6M left over after paying off every borrowing. For every $1 it owes, it owns $4.26 in assets. Its operating profit does not cover its interest bill — -23.17x against the interest it owes.
Core operating and valuation reference metrics
Whether the dividend is covered by what the business actually earns
It paid a dividend while making a loss, so the payment did not come out of profits — it came from reserves, borrowing or asset sales. It paid out 136% of the cash its operations generated. It has paid in each of the last 12 years.
WeakFigures from the FY2026 annual filing
Last year it lost $10.6M and generated $8.4M of cash from operations.
Reported annual figures
As reported to the SEC, in USD. Hover or show sources to see where each figure came from.
| Income statement | FY202610-K · Feb 26, 2026Filing for FY2026 | FY202410-K · Mar 6, 2025Filing for FY2024 | FY202310-K · Mar 6, 2025Filing for FY2023 | FY202210-K · Mar 18, 2024Filing for FY2022 | FY202110-K · Mar 3, 2022Filing for FY2021 |
|---|---|---|---|---|---|
| RevenueWhat is this? | $243.2M | $240.8M | $165.2M | $249.2M | $114.6M |
| Cost of revenue | $13.0M | $13.7M | $10.6M | — | — |
| Gross profit | $230.2M† | $227.1M† | $154.6M† | — | — |
| Gross marginGross profit ÷ revenueWhat is this? | 94.7% | 94.3% | 93.6% | — | — |
| Selling, general and administrative | $46.1M | $50.7M | $57.3M | $44.3M | $36.0M |
| Operating income | -$13.9M | -$19.5M | -$27.3M | $6.9M | -$68.6M |
| Operating marginOperating income ÷ revenueWhat is this? | -5.7% | -8.1% | -16.5% | 2.8% | -59.9% |
| Interest expense | $600.0K | $1.7M | $27.9M | $79.7M | $64.8M |
| Income before tax | -$10.6M | -$22.1M | $696.7M | -$66.2M | -$118.4M |
| Net income | -$10.6M | -$22.3M | $705.2M | -$28.7M | -$48.7M |
| Net marginNet income ÷ revenueWhat is this? | -4.4% | -9.3% | 426.9% | -11.5% | -42.5% |
| Earnings per shareNet income ÷ shares outstanding at the period end — close to, but not the same as, the reported EPSWhat is this? | $-0.1135 | $-0.2329 | $40.50 | $-3.50 | $-0.6002 |
† calculated from other reported figures, such as total liabilities as assets minus equity. There is no consecutive earlier year to compare with.
Insider activity, ownership stakes and what's coming — straight from EDGAR, before any article is written about it
Officers, directors and major shareholders must report within two business days of a trade.
Exercised stock options — 103,333 shares
Holds 653,994 shares after this filing.
Sold on the open market — 70,933 shares at $2.09 ($148.5K)
Holds 583,061 shares after this filing.
20 recent filings, newest first. Each is labelled from its form and item numbers, not from its wording.
Signed a material agreement · Terminated a material agreement · Completed an acquisition or disposal · Took on a direct financial obligation · Made a Regulation FD disclosure
Read the filingQuarterly report for Q2 FY2026
Revenue +12.7% · Operating margin +1.3 pts · Long-term debt turned positive — against Q2 FY2025
Read the filingWrite down why you are following National CineMedia, Inc., what has to go right and what would change your mind, then see each new annual report measured against it. Sign in to start one.
Go deeper
Every figure above traces back to a filing in the timeline, each linked to the document itself.
Coverage from the last 30 days
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Every company's figures are checked for internal consistency: the balance sheet adding up, figures sharing one currency, cash flow and share counts within plausible ranges, and how recent the latest annual report is. Nothing here changes a figure.
Financial figures are from NCMI's 10-K for fiscal year 2026 (period ending 2026-01-01, filed Feb 26, 2026), reported under the US GAAP taxonomy. View the source filing.
3 of 4 scored areas had enough reported figures to judge
The score averages profitability, growth, debt and accounting. Accounting had too few reported figures and is left out of the average rather than counted as a weakness, so a company is never marked down for a figure it did not publish. Cash generation is shown for context and already feeds profitability. Valuation is scored separately, because a share price says nothing about whether the business is sound. 9 of the 9 Piotroski checks could be evaluated. How the score works
Each year scored only from its annual report as it was first filed
| Fiscal year | Health | F-Score | Scored from |
|---|---|---|---|
| FY2026 | 2.0 | 2/3 | 10-K, filed Feb 26, 2026 |
| FY2024 | 4.7 | 6/9 | 10-K, filed Mar 6, 2025 |
| FY2023 | 3.3 | 3/8 | 10-K, filed Mar 18, 2024 |
| FY2022 | 4.7 | 4/8 | 10-K, filed Apr 13, 2023 |
| FY2021 | 4.7 | 2/8 | 10-K, filed Mar 3, 2022 |
| FY2020 | 2.0 | 4/8 | 10-K, filed Mar 9, 2021 |
A later restatement never reaches back into an earlier year, and every year is scored without a share price, so the latest point can differ a little from the headline score, which uses today's price.
Every check behind the three models, and what each one tests
6 of 9 checks passed
Nine yes-or-no tests of whether this year's finances improved on last year's.
5.82
In the safe zone
For this model, above 2.6 is safe and below 1.1 is distress.
Distance from bankruptcy, from a model fitted on companies that did and did not go bust. It describes a balance sheet's shape today; it does not forecast a failure.
not reported — This company has not reported enough of the required figures to calculate this score.
This company has not reported enough of the required figures to calculate this score.
Screens eight accounting ratios for the pattern earnings manipulators tend to leave. A flag is a reason to read the filing closely, never evidence of wrongdoing.
Every figure above comes from the FY2026 filing as filed with the SEC.
Deteriorated: -94.9%
$54.5M to $2.8MCritical
Why it matters: Cash left after paying for the plant that produced it — the money genuinely available for dividends, buybacks or paying down debt. Harder to flatter than profit.
Improved: $0.12 narrower
-$0.23 to -$0.11Critical
Why it matters: Profit divided by the shares in issue at the period end, so it sits close to but not on the company's own reported figure. It can rise with no growth in profit when the company buys back stock — read it beside the share count.
Deteriorated: -53.9%
$75.1M to $34.6MCritical
Why it matters: A falling cash pile is only a warning if the company is consuming it. Paying down debt, buying back stock and paying a dividend all reduce cash by choice.
Changed: +3700.0%
$300.0K to $11.4MCritical
Why it matters: Cash handed to shareholders. A rise can be a higher dividend or simply more shares, and a cut is a decision the company explains in its own filing — neither is rated here.
Improved: $5.6M narrower
-$19.5M to -$13.9MSignificant
Why it matters: Profit from running the business, before interest and tax. Less exposed than profit to one-off financing and tax items, so a clearer read on the business itself.
Improved: +4.9 pts
-9.3% to -4.4%Significant
Why it matters: What survives to the very end of each sale. Worth reading beside revenue: growing sales on a shrinking margin means the company is buying its growth.
Deteriorated: +20.0%
$10.0M to $12.0MSignificant
Why it matters: Rising debt is not automatically bad — borrowing to build something that earns more than the interest is ordinary. It matters when it grows faster than the profit meant to service it.
Improved: +2.4 pts
-8.1% to -5.7%Notable
Why it matters: What survives each sale after running the business. A falling operating margin beside a steady gross margin points at overheads — wages, marketing, research — rather than pricing.
Improved: -2.5%
95.8M to 93.4MNotable
Why it matters: The company bought back stock, so each remaining holding owns slightly more of it. Worth checking it was not funded by borrowing.
Q2 FY2026 against Q2 FY2025, from the 10-Q filed Aug 11, 2026 — read it.
Deteriorated: turned positive
$0.00 to $12.0MCritical
Why it matters: Rising debt is not automatically bad — borrowing to build something that earns more than the interest is ordinary. It matters when it grows faster than the profit meant to service it.
Improved: +3.7 pts
-20.7% to -17.0%Significant
Why it matters: What survives to the very end of each sale. Worth reading beside revenue: growing sales on a shrinking margin means the company is buying its growth.
Improved: +15.9%
$37.2M to $43.1MSignificant
Why it matters: A falling cash pile is only a warning if the company is consuming it. Paying down debt, buying back stock and paying a dividend all reduce cash by choice.
Improved: +12.7%
$51.8M to $58.4MNotable
Why it matters: Sales are what everything else is built on. A fall can be lost customers, lower prices, or a business the company sold — the filing itself says which.
Improved: +12.6%
$48.6M to $54.7MNotable
Why it matters: What is left of sales after the direct cost of producing them. It normally moves with revenue, so a move out of step with revenue is the part worth noticing.
Deteriorated: $800.0K wider
-$12.0M to -$12.8MNotable
Why it matters: Profit from running the business, before interest and tax. Less exposed than profit to one-off financing and tax items, so a clearer read on the business itself.
Improved: $800.0K narrower
-$10.7M to -$9.9MNotable
Why it matters: Profit swings far more than sales do, and one-off items — a legal settlement, a tax charge, an asset sale — move it without the underlying business changing.
Improved: +1.3 pts
-23.2% to -21.9%Notable
Why it matters: What survives each sale after running the business. A falling operating margin beside a steady gross margin points at overheads — wages, marketing, research — rather than pricing.
Improved: $0.01 narrower
-$0.11 to -$0.11Notable
Why it matters: Profit divided by the shares in issue at the period end, so it sits close to but not on the company's own reported figure. It can rise with no growth in profit when the company buys back stock — read it beside the share count.
Q2 FY2026 against Q1 FY2026, from the 10-Q filed Aug 11, 2026 — read it. Quarter-to-quarter moves include seasonal swings — a retailer's holiday quarter — which the year-earlier comparison removes.
Improved: +71.8%
$34.0M to $58.4MCritical
Why it matters: Sales are what everything else is built on. A fall can be lost customers, lower prices, or a business the company sold — the filing itself says which.
Improved: +82.3%
$30.0M to $54.7MCritical
Why it matters: What is left of sales after the direct cost of producing them. It normally moves with revenue, so a move out of step with revenue is the part worth noticing.
Improved: $14.1M narrower
-$26.9M to -$12.8MCritical
Why it matters: Profit from running the business, before interest and tax. Less exposed than profit to one-off financing and tax items, so a clearer read on the business itself.
Improved: $18.7M narrower
-$28.6M to -$9.9MCritical
Why it matters: Profit swings far more than sales do, and one-off items — a legal settlement, a tax charge, an asset sale — move it without the underlying business changing.
Improved: +57.2 pts
-79.1% to -21.9%Critical
Why it matters: What survives each sale after running the business. A falling operating margin beside a steady gross margin points at overheads — wages, marketing, research — rather than pricing.
Improved: +67.2 pts
-84.1% to -17.0%Critical
Why it matters: What survives to the very end of each sale. Worth reading beside revenue: growing sales on a shrinking margin means the company is buying its growth.
Improved: $0.20 narrower
-$0.31 to -$0.11Critical
Why it matters: Profit divided by the shares in issue at the period end, so it sits close to but not on the company's own reported figure. It can rise with no growth in profit when the company buys back stock — read it beside the share count.
Improved: +5.4 pts
88.2% to 93.7%Significant
Why it matters: What survives each sale before overheads. Falling gross margin usually means the company is discounting or its input costs rose — it is the earliest place pricing pressure shows.
Deteriorated: -11.3%
$48.6M to $43.1MNotable
Why it matters: A falling cash pile is only a warning if the company is consuming it. Paying down debt, buying back stock and paying a dividend all reduce cash by choice.
4 other measures barely moved. Figures compare the two most recent annual filings — read the latest one. Moves are graded on fixed lines — 5%, 15% and 40% for amounts, and 1, 3 and 8 points for margins — as notable, significant or critical. Nothing here reads the management commentary, which is where a company explains its own numbers.
Filter by minute, hour, day or week — or compare against peers
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Measured on and published about a week later — this is a fortnightly snapshot, not a live position.
About 7.1% of this company's shares have been borrowed and sold by people expecting to buy them back cheaper. That is a bet the price falls. Those people can be wrong, and when a heavily shorted share rises they have to buy it back, which pushes it up further.
Collected by FINRA from broker-dealers twice a month. It counts positions, not intentions, and some of it is hedging rather than a directional bet against the company.
Nothing in this section is a figure this company reported about itself. These are expectations and positions — what the price implies, what analysts have published, what short sellers are betting, and what large funds held at the last count. WylthIQ reports them; it does not endorse them, does not forecast prices, and takes no view on whether any of them will turn out to be right.
Trailing P/E is not meaningful because the latest trailing earnings are zero or negative. The price-to-book and price-to-sales figures below still provide reference points.
This company has not reported enough of the required figures to calculate this score.
Exercised stock options — 51,666 shares
Holds 255,761 shares after this filing.
Sold on the open market — 35,467 shares at $2.09 ($74.3K)
Holds 220,294 shares after this filing.
Exercised stock options — 25,833 shares
Holds 188,995 shares after this filing.
Sold on the open market — 12,189 shares at $2.09 ($25.5K)
Holds 176,806 shares after this filing.
Was granted or awarded shares — 50,000 shares at $2.79 ($139.3K)
Holds 111,720 shares after this filing.
Exercised stock options — 74,560 shares
Holds 601,284 shares after this filing.
Sold on the open market — 50,623 shares at $4.18 ($211.8K)
Holds 550,661 shares after this filing.
Sold on the open market — 1,000 shares at $4.05 ($4.0K)
Holds 204,095 shares after this filing.
Exercised stock options — 51,666 shares
Holds 237,423 shares after this filing.
Sold on the open market — 32,328 shares at $3.77 ($122.0K)
Holds 205,095 shares after this filing.
Exercised stock options — 25,833 shares
Holds 175,220 shares after this filing.
Sold on the open market — 12,058 shares at $3.77 ($45.5K)
Holds 163,162 shares after this filing.
Notice filed ahead of a planned sale — the sale itself has not necessarily happened yet.
Filed notice to sell 71,500 shares ($157.3K) on or after .
Shares originally obtained via Restricted Stock Unit Vesting.
Filed notice to sell 34,000 shares ($74.8K) on or after .
Shares originally obtained via Restricted Stock Unit Vesting.
Filed notice to sell 13,500 shares ($29.7K) on or after .
Shares originally obtained via Restricted Stock Unit Vesting.
Filed notice to sell 52,000 shares ($200.8K) on or after .
Shares originally obtained via Restricted Stock Unit Vesting.
Filed notice to sell 34,000 shares ($129.4K) on or after .
Shares originally obtained via Restricted Stock Unit Vesting.
Filed notice to sell 13,500 shares ($51.4K) on or after .
Shares originally obtained via Restricted Stock Unit Vesting.
Not investment advice, and not a signal to act on by itself — a filing says what happened, not why, and insiders trade for ordinary reasons having nothing to do with where they think the company is headed.
Published results
Signed a material agreement · Made a Regulation FD disclosure · Reported another event
Read the filingQuarterly report for Q1 FY2026
Operating margin −10.6 pts · Free cash flow +235.8% · Long-term debt turned positive — against Q1 FY2025
Read the filingPublished results · Held a shareholder vote
Read the filingAmended its charter or changed its financial year
Read the filingProxy statement for a shareholder meeting
Read the filingPublished results
Read the filingAnnual report for FY2026
Read the filingPublished results
Read the filingHad a director or senior officer leave or join
Read the filingMade a Regulation FD disclosure
Read the filingHad a director or senior officer leave or join
Read the filingQuarterly report for Q3 FY2025
Operating margin +9.2 pts · Operating income $5.7M narrower · Profit turned positive — against Q3 FY2024
Read the filingPublished results
Read the filingHad a director or senior officer leave or join
Read the filingHad a director or senior officer leave or join
Read the filingQuarterly report for Q2 FY2025
Revenue -5.3% · Operating margin −6.2 pts · Long-term debt turned negative — against Q2 FY2024
Read the filingPublished results
Read the filingYahoo ·
Primary sources and further research