National CineMedia, Inc (NCMI) Key Metrics
NCMI valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $193.8M
- Enterprise value
- $183.3M
- P/E (TTM)
- —
- Forward P/E
- 73.0
- PEG ratio
- 0.70
- Price / sales
- 0.8 10-yr median 1.5
- Price / book
- 0.6 10-yr median 0.9
- EV / EBITDA
- 6.1 10-yr median 11.2
- Dividend yield
- 4.37% $0.09 a year
- Beta
- 1.63
NCMI key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsNCMI valuation Price multiples at each fiscal year-end price.
NCMI returns How much profit the business earns on the capital it uses.
NCMI per-share figures Results divided by the shares outstanding at year-end.
NCMI financial health Debt, liquidity and how easily interest is covered.
NCMI efficiency & capital use Working capital cycle and where the cash goes.
NCMI valuation history
NCMI returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
NCMI debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
NCMI cash returned to shareholders
NCMI price vs earnings per share
NCMI key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $366.4M | $636.6M | $201.1M | — | — | — | — | — | — | — |
| Enterprise value | $313.8M | $585.6M | $182.5M | — | — | — | — | — | — | — |
| P/E ratio | — | — | 0.3 | — | — | — | — | — | — | — |
| Price / sales | 1.5 | 2.6 | 1.2 | — | — | — | — | — | — | — |
| Price / book | 0.9 | 1.5 | 0.5 | — | — | — | — | — | — | — |
| Price / free cash flow | 130.8 | 11.7 | — | — | — | — | — | — | — | — |
| Price / operating cash flow | 43.6 | 10.6 | — | — | — | — | — | — | — | — |
| EV / sales | 1.3 | 2.4 | 1.1 | — | — | — | — | — | — | — |
| EV / EBITDA | 11.2 | 26.6 | 0.2 | — | — | — | — | — | — | — |
| EV / free cash flow | 112.1 | 10.7 | — | — | — | — | — | — | — | — |
| Earnings yield | −2.9% | −3.5% | 350.7% | — | — | — | — | — | — | — |
| Free cash flow yield | 0.8% | 8.6% | −5.0% | — | — | — | — | — | — | — |
| Dividend yield | 3.1% | 0.0% | 0.2% | — | — | — | — | — | — | — |
| Shareholder yield (dividends + buybacks) | 9.1% | 2.2% | 0.2% | — | — | — | — | — | — | — |
| Share price at fiscal year-end | $3.89 | $6.64 | $4.14 | $2.20 | $28.10 | $37.20 | $72.90 | $64.80 | $68.60 | $147.30 |
| Per share | ||||||||||
| Revenue per share | $2.58 | $2.51 | $3.40 | — | — | — | — | — | — | — |
| Earnings per share | −$0.11 | −$0.23 | $14.52 | — | — | — | — | — | — | — |
| Operating cash flow per share | $0.09 | $0.63 | −$0.14 | — | — | — | — | — | — | — |
| Free cash flow per share | $0.03 | $0.57 | −$0.21 | — | — | — | — | — | — | — |
| Cash per share | $0.80 | $0.78 | $0.71 | — | — | — | — | — | — | — |
| Book value per share | $4.37 | $4.29 | $8.95 | — | — | — | — | — | — | — |
| Tangible book value per share | $0.64 | $0.63 | $0.83 | — | — | — | — | — | — | — |
| Dividends per share | $0.12 | $0.00 | $0.01 | — | — | — | — | — | — | — |
| Capex per share | $0.06 | $0.06 | $0.07 | — | — | — | — | — | — | — |
| Debt per share | $0.24 | $0.25 | $0.33 | — | — | — | — | — | — | — |
| Shares outstanding | 94.2M | 95.9M | 48.6M | — | — | — | — | — | — | — |
| Change in shares outstanding | −1.8% | +97.4% | — | — | — | — | — | — | — | — |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | −2.6% | −5.3% | — | — | — | — | — | — | 107.5% | — |
| Return on invested capital (ROIC) | −3.1% | −4.0% | −5.4% | 1.0% | −11.8% | −6.6% | 28.5% | 14.5% | 8.4% | 13.2% |
| Return on assets (ROA) | −1.9% | −3.9% | 103.7% | −3.6% | −5.7% | −6.5% | 3.2% | 2.3% | 4.7% | 3.1% |
| Return on tangible assets | −4.9% | −10.2% | 406.7% | −17.2% | −23.1% | −25.3% | 7.4% | 6.5% | 8.1% | 6.6% |
| Free cash flow margin | 1.2% | 22.6% | −6.1% | −20.1% | −88.0% | 52.3% | 29.1% | 30.8% | 29.4% | 26.4% |
| Income quality (OCF / net income) | — | — | −0.01 | — | — | — | 3.98 | 5.04 | 2.38 | 4.06 |
| Financial health | ||||||||||
| Total debt | $22.5M | $24.2M | $16.0M | $1.12B | $1.12B | $1.08B | $952.2M | $923.6M | $923.3M | $924.3M |
| Cash & short-term investments | $75.1M | $75.2M | $34.6M | $62.4M | $101.5M | $180.6M | $73.4M | $65.4M | $59.5M | $68.7M |
| Net debt | −$52.6M | −$51.0M | −$18.6M | $1.06B | $1.02B | $896.1M | $878.8M | $858.2M | $863.8M | $855.6M |
| Debt / equity | 0.05 | 0.06 | 0.04 | — | — | — | — | — | 3.19 | — |
| Debt / assets | 0.04 | 0.04 | 0.03 | 1.41 | 1.37 | 1.21 | 0.84 | 0.81 | 0.64 | 0.87 |
| Net debt / EBITDA | −1.89 | −2.32 | −0.02 | 23.53 | — | 6.93 | 4.45 | 4.31 | 2.24 | 4.30 |
| Current ratio | 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 | 2.46 | 0.13 | 2.28 | 4.02 | 2.19 | 2.18 | 2.05 | 1.97 |
| Interest coverage | -23.2 | -11.5 | -1.0 | 0.1 | -1.1 | -1.1 | 2.8 | 2.8 | 2.9 | 3.2 |
| Working capital | $104.4M | $104.4M | $85.4M | −$1.04B | $88.6M | $149.9M | $134.8M | $120.4M | $102.9M | $100.5M |
| Invested capital | $358.6M | $360.2M | $415.9M | $594.7M | $491.8M | $423.0M | $499.3M | $490.2M | $1.15B | $674.4M |
| Tangible asset value | $59.9M | $60.4M | $40.2M | −$1.09B | −$989.8M | −$896.4M | −$764.9M | −$773.7M | −$427.5M | −$741.7M |
| Net current asset value | $20.5M | $20.5M | $10.6M | −$1.09B | −$1.04B | −$954.9M | −$996.9M | −$1.00B | −$932.4M | −$1.02B |
| Graham number | — | — | $54.05 | — | — | — | — | — | — | — |
| Graham net-net per share | −$0.19 | −$0.19 | −$0.54 | — | — | — | — | — | — | — |
| Capital allocation | ||||||||||
| Dividends paid | $11.4M | $300,000 | $500,000 | $9.5M | $16.9M | $68.8M | $125.5M | $54.4M | $58.7M | $122.2M |
| Share buybacks (net) | $22.0M | $13.8M | $0 | $200,000 | $2.0M | $1.0M | $1.3M | $2.4M | $4.7M | $4.9M |
| Dividend payout ratio | — | — | 0.1% | — | — | — | 347.6% | 182.6% | 100.7% | 371.4% |
| Dividends + buybacks / free cash flow | — | 25.9% | — | — | — | 147.6% | 97.8% | 41.8% | 50.6% | 107.4% |
| Capex / revenue | 2.3% | 2.4% | 2.0% | 1.2% | 5.0% | 8.8% | 3.1% | 3.2% | 3.2% | 3.4% |
| Capex / operating cash flow | 66.7% | 9.6% | — | — | — | 14.5% | 9.7% | 9.5% | 9.9% | 11.4% |
| Capex / depreciation | 0.15 | 0.14 | 0.13 | 0.09 | 0.16 | 0.21 | 0.35 | 0.36 | 0.36 | 0.42 |
| Stock-based compensation / revenue | 3.8% | 5.1% | 2.7% | 2.8% | 7.1% | 2.4% | 1.2% | 1.8% | 2.6% | 4.1% |
| R&D / revenue | — | 1.4% | 1.8% | 1.8% | 1.5% | 2.1% | 0.8% | 0.4% | 0.8% | 0.8% |
| SG&A / revenue | 36.1% | 21.1% | 52.6% | 35.0% | 61.7% | 75.8% | 24.4% | 26.0% | 25.8% | 25.2% |
| Efficiency | ||||||||||
| Days sales outstanding | 128.0 | 137.9 | 208.4 | 106.2 | 107.2 | 387.0 | 139.1 | 135.0 | 142.8 | 132.1 |
| Days of inventory on hand | — | — | — | 1.7 | -5.2 | -36.5 | -24.0 | -30.6 | -41.7 | -71.7 |
| Days payables outstanding | 49.6 | 48.6 | 106.4 | 63.9 | 71.2 | 144.3 | 52.5 | 51.4 | 53.7 | 48.2 |
| Cash conversion cycle (days) | 78.5 | 89.3 | 101.9 | 44.0 | 30.8 | 206.2 | 62.6 | 53.0 | 47.4 | 12.2 |
| Receivables turnover | 2.85 | 2.65 | 1.75 | 3.44 | 3.41 | 0.94 | 2.62 | 2.70 | 2.56 | 2.76 |
| Payables turnover | 7.37 | 7.52 | 3.43 | 5.71 | 5.13 | 2.53 | 6.95 | 7.10 | 6.80 | 7.57 |
| Inventory turnover | — | — | — | 214.36 | — | — | — | — | — | — |
| Asset turnover | 0.43 | 0.42 | 0.24 | 0.31 | 0.13 | 0.09 | 0.39 | 0.34 | 0.34 | 0.42 |
| Average receivables | $85.3M | $91.0M | $94.3M | $72.5M | $33.6M | $95.8M | $169.5M | $163.3M | $166.8M | $162.1M |
| Average payables | $23.0M | $22.4M | $23.4M | $20.6M | $15.0M | $17.2M | $19.4M | $18.6M | $18.4M | $16.1M |
| Average inventory | — | — | — | $550,000 | −$1.1M | −$4.3M | −$8.8M | −$11.1M | −$14.2M | −$24.0M |
| Intangibles / total assets | 61.8% | 61.7% | 69.5% | 79.0% | 74.2% | 70.8% | 57.0% | 59.9% | 50.0% | 53.0% |
Computed from NCMI's annual financial statements (latest annual report filed February 26, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
NCMI valuation and financial ratios
National CineMedia earned a return on equity of −2.6% and a return on invested capital of −3.1% in fiscal 2025. It ended the year with $22.5 million of debt and $75.1 million in cash and short-term investments, a net cash position of $52.6 million. It returned $33.4 million to shareholders: $11.4 million in dividends and $22.0 million in share buybacks.
See the NCMI income statement, the NCMI chart for price history, or the NCMI stock overview for the latest quote and news.
NCMI key metrics FAQ
What is National CineMedia's EV/EBITDA?
National CineMedia's enterprise value was 11.2 times EBITDA at the end of fiscal 2025 (enterprise value $313.8 million, EBITDA $27.9 million); the current EV/EBITDA is 6.1.
What is National CineMedia's return on equity?
National CineMedia's return on equity (ROE) was −2.6% in fiscal 2025: net income of -$10.6 million on average shareholders' equity of $411.2 million.
What is National CineMedia's ROIC?
National CineMedia's return on invested capital was −3.1% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does National CineMedia have?
National CineMedia had total debt of $22.5 million at the end of fiscal 2025, a debt-to-equity ratio of 0.05 and more cash than debt.
What is National CineMedia's dividend yield?
National CineMedia's forward dividend yield is 4.37%. National CineMedia paid $11.4 million in dividends in fiscal 2025 ($0.12 per share), a payout ratio of —.
Does National CineMedia buy back its shares?
Yes. National CineMedia spent $22.0 million on net share repurchases in fiscal 2025 Shares outstanding changed −1.8% over the year, to 94.2M..
What is National CineMedia's free cash flow yield?
National CineMedia generated $2.8 million of free cash flow in fiscal 2025, a free cash flow yield of 0.8% on its market value at year-end ($366.4 million).
What is National CineMedia's current ratio?
National CineMedia's current ratio was 2.42 at the end of fiscal 2025: current assets were 2.42 times current liabilities.