National CineMedia, Inc. (NCMI) Stock

National CineMedia, Inc. (NCMI) is a Technology stock trading at $2.56 (as of 2026-08-20), with a market capitalization of $240.35M. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

National CineMedia, Inc., through its subsidiary, National CineMedia, LLC, operates cinema advertising network in North America. It engages in the sale of advertising to national, regional, and local businesses in Noovie, a cinema advertising and entertainment pre-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. The company is also engaged in the sale of online and mobile advertising through its Noovie Audience Accelerator product, as well as a suite of Noovie digital properties, such as Noovie Shuffle, Noovie Trivia, Name That Movie, and Noovie Arcade to reach entertainment audiences beyond the theater. It offers its services to third-party theater circuits under long-term network affiliate agreements. The company was incorporated in 2006 and is headquartered in Centennial, Colorado.

Understand National CineMedia, Inc.: how it makes money

National CineMedia operates a cinema advertising network in North America, it sells advertising on its in-theater screens and Noovie pre-show (and its lobby screens), and it also sells online and mobile advertising through its Noovie Audience.

Because National CineMedia monetizes delivered movie-theater audiences by selling in-theater advertising across national and scatter inventory, its profit model is driven by how much ad revenue it can generate per reached audience and per advertiser demand.

Revenue by segment (latest quarter)
National Ads$0.0B
Scatter Ads$0.0B
Local Ads$0.0B

Business quality (Weak): Business model is clearly audience and advertising driven, but the latest reported quarter shows very small revenue and a very large operating loss, so investors should focus on whether ad yield (revenue per attendance) and advertiser base trends can overcome fixed costs.

Bull case

  • National and scatter advertising are explicitly tracked revenue streams: The company breaks out National Advertising Revenue and Scatter Revenue, which helps investors monitor whether ad demand is staying broad versus concentrating in one channel.
  • Audience reach is a core input to selling ads: Metrics like Individuals Reached and National Advertising Revenue per Attendance Data tie monetization to delivered audience, which can indicate ad yield trends.

Bear case

  • Operating losses remain severe in the latest period provided: The latest quarter shows operating_margin_pct of -79.1, indicating costs are not being covered by reported revenue.
  • Advertising demand can be cyclical: As an ad network, performance depends on advertisers choosing to spend, which can fluctuate with broader market conditions and theater attendance.
  • Revenue is extremely small in the provided quarter: The dataset shows revenue_b of 0.0, meaning quarter-to-quarter changes could be driven by limited volume and may be harder to interpret.
Valuation — source: SEC EDGAR (first-party)
Price$2.56
Market Cap$240.35M
Price / Book0.72
Price / Sales0.97
FCF Yield8.2%
DCF Value (model)$5.26
DCF Upside vs Price105.9%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$243.20M
Net Margin-4.4%
Revenue Growth (YoY)12.7%
EPS Growth (YoY)0.0%
FCF Growth (YoY)-66.7%
Financial Health — source: SEC EDGAR
Altman Z-Score2.50 (grey)
Piotroski F-Score6/9 (moderate)
Valuation vs Sector & Industry
Sector P/E (Technology)33.9
Industry P/E (Business Services)30.0
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderBlantyre Capital Ltd ($82.79M)
Institutional Holders Tracked10
Company
SectorTechnology
IndustryBusiness Services
CEOThomas F. Lesinski
Employees254
CountryUS
IPO Date2007-02-08

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NCMI earnings history · NCMI institutional & insider holders · NCMI KPIs & operating metrics · NCMI financials · NCMI investor presentations & press releases · NCMI SEC filings · NCMI peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.