NATIONAL CINEMEDIA INC (NCMI)
Communication Services · Cinema advertising and network services · NASDAQ
National CineMedia operates a dominant digital cinema advertising network that connects brands with moviegoers across a vast footprint of theater circuits.
What NATIONAL CINEMEDIA INC does
National CineMedia operates a digital cinema advertising network (DCN) and lobby entertainment network (LEN) that displays advertisements and promotional content across thousands of screens in AMC, Cinemark, and other affiliated movie theater circuits. The company generates revenue by selling advertising inventory to national brands and generating fees from theater exhibitors. It also owns Spotlight Cinema Networks, a platform serving art house, luxury, and dine-in theaters with specialized content and advertising solutions.
Themes: Cinema advertising networks, Out-of-home advertising, Movie theater exhibition partnerships, Specialty / art house cinema content
Fundamentals
- Price$2.54 as of 2026-08-21 close
- Market cap$239M as of 2026-08-21
- 1-year return-40.8% 2025-08-21 close $4.29 → 2026-08-21 close $2.54
- P/En/a negative earnings
- Net margin-3.5% as of 2026-08-24
- Gross margin+44.1% as of 2026-08-24
- ROE-2.4% as of 2026-08-24
- Debt / equity0.03 as of 2026-08-24
- Revenue growth (YoY)+1.7% as of 2026-08-24
- Revenue CAGR (3y)-0.6% SEC XBRL
- Beta1.69 as of 2026-08-24
- Last reported earnings2026-08-11 SEC EDGAR Form 8-K (Item 2.02)
Dividend: yield +5.6%; at least 1 years of non-decreasing per-share dividends (SEC XBRL) — we do not hold the year before it, so the real streak may be longer.
How NCMI compares in its sector
- net profit marginmiddle range 132 covered Communication Services peers, as of 2026-08-24
- operating marginbottom 25% 132 covered Communication Services peers, as of 2026-08-24
- gross marginmiddle range 132 covered Communication Services peers, as of 2026-08-24
- return on equitymiddle range 132 covered Communication Services peers, as of 2026-08-24
- 3-year revenue CAGRbottom 25% 121 covered Communication Services peers
- indicated dividend yieldtop 25% 48 covered Communication Services peers, as of 2026-08-24
- free cash flow (absolute dollars, latest fiscal year)bottom 25% 114 covered Communication Services peers, as of FY2026
Position among covered Communication Services companies that report each metric (minimum 5 peers). A relative position within our covered catalog — not a valuation, quality, or investment judgment. A higher percentile is simply a higher value (for P/E, more expensive on earnings — never "better"). Informational only.
Dividend coverage (FY2026)
Exceeded at least one reported measure. In FY2026, NCMI's dividend exceeded at least one reported measure of what it earned or generated (free-cash-flow payout 407%). A payout above 100% in one year is not necessarily unsustainable, but it is not fully covered by that measure.
- Earnings payoutnot assessable earnings were not positive that year
- Free-cash-flow payout407% dividends / (operating cash flow − capex)
Coverage derived from reported SEC EDGAR XBRL figures for FY2026 (dividends paid vs. net income and free cash flow, same fiscal year). This describes PAST coverage for one fiscal year — it does not predict whether a dividend will be maintained, raised, or cut, and a one-year payout ratio can be distorted by non-recurring items. Informational only — not financial advice.
How NATIONAL CINEMEDIA INC looks technically
NATIONAL CINEMEDIA INC (NCMI) is trading 29.9% below its 200-day average, the long-term trend line — a long-term downtrend. Its 50-day average crossed above its 200-day average about 12 trading days ago — a "golden cross", a bullish long-term signal. A strong downtrend is in place — ADX, a 0–100 trend-strength gauge, is 41, with sellers in control. Momentum is neutral — its 14-day RSI (a 0–100 momentum gauge) is 33, neither overbought (above 70) nor oversold (below 30). It made a new 20-day low about 8 trading days ago. It is 49.5% below its highest point of the past year.
Trend
7
| Distance from the 200-day | it is trading 29.9% below its 200-day average, the long-term trend line — a long-term downtrend | -29.9% |
|---|---|---|
| 50-day moving average | its average price over the last 50 trading days — a short-term trend line — is $3.63 | $3.63 |
| 200-day moving average | its average price over the last 200 trading days — the long-term trend line — is $3.62 | $3.62 |
| Swing structure | its recent peaks and dips disagree — one of them is rising while the other is not, so there is no clean up or down pattern in the swings | mixed — one of the two is not confirming |
| Last swing turn | its last significant turn was a swing low 9 calendar days ago — the swings before that are what the structure reading is measured on | 9 sessions |
| Since the 50/200 cross | its 50-day average crossed above its 200-day average about 12 trading days ago — a "golden cross", a bullish long-term signal | 12 sessions |
| Trend strength (14-day ADX) | a strong downtrend is in place — ADX, a 0–100 trend-strength gauge, is 41, with sellers in control | 40.8 |
Momentum
3
| 14-day RSI | momentum is neutral — its 14-day RSI (a 0–100 momentum gauge) is 33, neither overbought (above 70) nor oversold (below 30) | 32.7 |
|---|---|---|
| Position in its 14-day range | it is trading near the bottom of its 14-day range ($2.16 to $4.24) — its "stochastic" reading is 18 out of 100, where 0 would mean closing exactly at the 14-session low and 100 exactly at the high. This measures WHERE the price sits inside its recent range, which is a different question from the RSI beside it: RSI is a momentum gauge, measuring how FAST the price has been moving, so a stock can drift quietly to the bottom of its range with an ordinary RSI, or fall sharply and still sit in the middle. It has been slipping within that range over the last few sessions. | 18.3 |
| Since the MACD crossed zero | MACD, a trend-momentum gauge, is in negative territory (momentum leaning bearish) | 11 sessions |
Range
12
| 52-week high | its highest closing price over the past year (about 252 trading days) was $5.03 | $5.03 |
|---|---|---|
| From the 52-week high | it is 49.5% below its 52-week high (its highest price of the past year) | -49.5% |
| Above the 52-week low | it is 17.6% above its 52-week low (its lowest price of the past year) | +17.6% |
| Below the 52-week high | it is 49.5% below its highest point of the past year | 49.5% |
| Since a 20-day breakout | it made a new 20-day low about 8 trading days ago | 8 sessions |
| Since a 55-day breakout | it made a new 55-day low about 8 trading days ago | 8 sessions |
| All-time high | its highest closing price on record is $298.00 (set on 2007-06-05) | $298.00 |
| Given back of the 52-week move | over the past year its closes ranged ($2.22 to $4.89), and it has recovered only a small part of its fall from last year’s high — 12% of it. Chart-watchers call 61.8%-65% given back the "golden pocket" — for this company that is $3.87 to $3.96. It is watched widely enough that orders cluster there, which is the honest reason it matters; it is not a forecast. | 12.0% |
| From the all-time high | it is 99.1% below its all-time high | -99.2% |
| Nearest price level | it is trading 44.7% below a resistance level at $3.68 — a price it turned at four times since 2026-01-13, most recently on 2026-07-17. Since 2024-08-21 it has 0 such levels below the current price and 9 above. Levels like these describe where the price has reversed or paused before; they are not a forecast of where it will go. | +44.7% |
| All-time low | its lowest closing price on record is $0.32 (set on 2023-08-03) | $0.32 |
| Above the all-time low | it is 693.8% above its all-time low | +693.8% |
Volatility
5
| Band width vs its own 6 months | day-to-day price swings are unusually wide versus its own recent history (wider than about 99% of the past ~6 months) | 99th percentile |
|---|---|---|
| Typical daily range | in a typical session it travels about $0.2318 between its high and its low — about 9.1% of its price. That is its "average true range" over the last 14 sessions, which also counts the distance from the previous close, so a day that opens well away from yesterday counts as the large move it was | $0.2318 |
| Bollinger bands (20-day, ±2σ) | most of its recent trading has stayed between about $2.03 and $4.85 — the "Bollinger bands", a range drawn two standard deviations either side of its 20-day average price, which widens when the stock gets more volatile and narrows when it settles | $2.03 – $3.44 – $4.85 |
| Typical daily range (% of price) | its price moves about 9.1% in a typical session — among the most volatile in the catalog. This is the average gap between a session's high and low over the last 14 sessions, counting overnight moves, expressed against the current price so it can be compared with companies trading at any price | 9.1% |
| Stretch from the 200-day average | it is trading 4.7 daily ranges below its 200-day average price (29.9% below it in plain percentage terms) — a way of asking how far it has stretched from its own average in units of how far it normally moves in a day, so a calm company and a jumpy one can be compared on the same scale | 4.7 daily ranges below its 200-day average |
Volume
1
| Volume vs its 30-day average | trading volume is about normal versus its 30-day average | 0.92× |
|---|
Analyst
2
| Change in the average price target | analysts have cut their average price target by 8.3% since the prior reading | -8.3% |
|---|---|---|
| Change in the consensus rating | not available for this company yet | n/a |
Price gaps
2
| Gap at the open | it opened on 2026-08-21 at essentially the same price it closed at the session before — no meaningful overnight gap | 0.0% |
|---|---|---|
| Open gap | it gapped 2.1% below the previous close 4 sessions ago and has not traded back through the level it left behind at 2.86 — an "unfilled gap", which describes a price range no trade has since crossed and is not a forecast that it will be crossed | -2.1% |
Price streaks
1
| Closing streak | it has closed lower 2 sessions in a row, a -3.79% move over the run — an unbroken run of down days, which describes what has already happened and says nothing about the next session | 2 sessions down |
|---|
Relative strength
4
| vs market, 1 month | over the past 1 month this stock lagged the market by 37.2 percentage points (the stock lost 34.9% while the market gained 2.3%) | -37.2% |
|---|---|---|
| vs market, 3 months | over the past 3 months this stock lagged the market by 18.4 percentage points (the stock lost 15.3% while the market gained 3.1%) | -18.4% |
| vs market, 6 months | over the past 6 months this stock lagged the market by 36.4 percentage points (the stock lost 25.3% while the market gained 11.1%) | -36.4% |
| vs market, 12 months | over the past 12 months this stock lagged the market by 61.3 percentage points (the stock lost 40.8% while the market gained 20.5%) | -61.3% |
Signal agreement
2
| Bullish technical signals | 2 of the 9 technical signals we can compute for it are currently in a bullish state: a "golden cross" — its 50-day average is above its 200-day, near the bottom of its 14-day range (oversold) — these describe past price behaviour, not a forecast | 2 of 9 |
|---|---|---|
| Bearish technical signals | 5 of the 9 technical signals we can compute for it are currently in a bearish state: a strong downtrend, with sellers in control, trading below its 200-day average, MACD momentum is negative, lagging the market over 6 months, trading below the Ichimoku cloud — these describe past price behaviour, not a forecast | 5 of 9 |
Trend (Ichimoku cloud)
1
| Vs the Ichimoku cloud | trading 26% below the Ichimoku cloud — a band drawn from where its own highs and lows sat up to 2026-07-16 and projected forward over today's price, the side traders read as an established downtrend, with the band above acting as the level that would have to be cleared. The band itself is thick, spanning 15.3% of the share price, which is taken to mean a barrier that has held for a while and takes effort to cross. | -25.7% |
|---|
Volume-weighted price
1
| Vs this year’s average price paid | the price is 21% below the average price paid so far this year, so the typical buyer over that stretch is under water. That average is $3.22 — a volume-weighted average of daily closes over 157 sessions, not a true tick-by-tick VWAP. | -21.1% |
|---|
Price levels it has turned at before
NCMI last closed at $2.54 on 2026-08-21. Since 2024-08-21 it has turned at 0 prices below its last close and 9 above; the 3 nearest above are listed, nearest first.
| Level | Side | Distance | Evidence |
|---|---|---|---|
| $3.68 | Resistance | 44.7% above the last close | turned there four times · 2026-01-13 to 2026-07-17 |
| $3.79 | Resistance | 49.4% above the last close | turned there five times · 2025-11-10 to 2026-06-17 |
| $4.05 | Resistance | 59.3% above the last close | turned there six times · 2025-10-16 to 2026-07-20 |
A level is a price this company reversed or paused at more than once — they describe past behaviour, not a forecast of where the price will go.
Wave structure
No Elliott-wave labelling currently fits its swings: the recent highs and lows do not satisfy the three rules a five-wave count has to obey, so there is no count to show rather than a count we are unsure about.
Read from daily closes as of 2026-08-21.
An Elliott-wave count describes the swings already printed and the level that would disprove it. It is not a forecast, a target, or advice.
Screens: Trading below the 200-day moving average · Recent golden cross (50-day crossed above 200-day) · Pulled back from the 12-month high · Analyst price target recently CUT · lagging the market · Most volatile (6%+ typical daily range) | Learn: moving average · golden cross · adx · rsi · breakout · fifty two week high low
Based on daily closing prices as of 2026-08-21. Describes past price behavior only — informational, not financial advice.
Analyst consensus
- Consensus ratingBuy (1.75 mean, 1=Strong Buy…5=Strong Sell) — 4 analysts
- Mean price target$4.81 range $4.00 – $6.00; median $4.63
Analyst estimates, as of 2026-08-22. These are third-party analyst opinions and price targets, aggregated — not a recommendation, prediction, or advice from stocks-llm. Informational only.
Analyst EPS estimate for NCMI
- Consensus EPS estimate-$0.085 next reporting period, as of 2026-08-22
Change over time is not available yet: it needs two readings of the same reporting period at least 30 days apart, and we have been recording these estimates since 2026-08-04. An estimate for a DIFFERENT quarter is not a revision, so a reading from before the last report is never compared with one after it.
The consensus estimate for the next reporting period, and how it has moved between readings of that SAME period. A change is measured only between readings estimating one period — when a company reports, the consensus moves to the next quarter and the two numbers are not comparable. Informational only, not a forecast and not advice.
Key risks (from latest filing)
["Continued decline in theatrical movie attendance and screen counts, directly reducing available advertising inventory and revenue.","Dependence on relationships with AMC and Cinemark as major ESA parties; AMC terminated its TRA in April 2025, and Regal terminated its ESA in July 2023, shrinking the theater network.","Negative operating margins (-3.47% net margin) and persistent operating losses in recent quarters despite slight revenue growth, indicating structural profitability challenges in the cinema advertising market."]
What changed in the latest 10-Q
AI-assisted comparison of NCMI's 10-Q filed 2026-05-12 against the prior one filed 2025-10-30.
Management's Discussion & Analysis (MD&A)
- Reworded:
- Page number for 'Quantitative and Qualitative Disclosures about Market Risk' changed from 29 (2025-10-30 filing) to 26 (2026-05-12 filing)
- Page number for 'Controls and Procedures' changed from 29 (2025-10-30 filing) to 27 (2026-05-12 filing)
- Page number for 'Legal Proceedings' changed from 30 (2025-10-30 filing) to 27 (2026-05-12 filing)
- Notes:
- Only table of contents page numbers are visible in both filings; substantive content comparison is not possible from the provided excerpts
Risk Factors
- Added:
- Newer filing (2026-05-12) presents three-month period ended April 2, 2026 data, whereas older filing (2025-10-30) presents nine-month period ended September 25, 2025 data
- Newer balance sheet as of April 2, 2026 shows cash and cash equivalents of $48.6M vs. older balance sheet as of September 25, 2025 showing $29.9M
- Newer balance sheet shows receivables of $70.1M vs. older showing $59.1M
- Newer balance sheet shows deferred revenue of $26.3M vs. older showing $9.6M
- Newer balance sheet shows long-term debt of $12.0M vs. older showing $0M
- Newer statements of operations show revenue of $34.0M vs. older three-month revenue of $63.4M
- Newer statements of operations show operating loss of ($26.9M) vs. older operating loss of ($1.8M)
- Newer statements of operations show loss on re-measurement of TRA of $1.9M vs. older gain of ($3.1M)
- Newer statements of operations show no loss on debt extinguishment vs. older showing $0M
- Newer cash flow statement entries include non-cash consideration received for advertising services of ($0.9M)
- Newer cash flow statement shows payment of dividends of ($2.8M) vs. older showing ($8.5M) for nine-month period
- Removed:
- Older filing includes short-term marketable securities of $0.1M; newer filing omits this line item
- Older filing includes amounts due from ESA Parties of $10.6M in current assets; newer filing does not show this separately
- Older balance sheet as of December 26, 2024 comparison date; newer balance sheet compares to January 1, 2026
- Older statements of operations include nine-month comparison periods; newer statements show only three-month periods
- Older cash flow statement includes ESA integration and other encumbered theater payments of $0.7M; newer statement omits
- Older cash flow statement includes payments to ESA Parties under TRA of ($1.3M); newer statement omits
- Older cash flow statement includes purchase of cost method investment of ($2.0M); newer statement omits
- Older cash flow statement includes purchase of intangible asset of ($0.4M); newer statement omits
- Older cash flow statement includes cash redemption of NCM LLC common membership units; newer statement omits
- Reworded:
- Newer filing shows net loss per share of ($0.31) for three months vs. older showing net income per share of $0.02 for three-month period (different quarters)
- Older statement of operations shows '(Gain) loss on re-measurement of the payable under the tax receivable agreement' with gain notation; newer shows 'Loss on re-measurement' phrased as expense
- Notes:
- The two filings cover different reporting periods (three months vs. nine months) and different fiscal year-ends, limiting direct comparability
- The newer filing compares to an interim prior-year period (March 27, 2025) while the older filing compares to a later interim period (September 25, 2025), reflecting different points in their respective fiscal years
AI-assisted comparison of two SEC filing sections. It describes wording and theme changes only, makes no materiality, legal, or investment judgement, and is not financial advice. Informational only — not financial advice.
Insider activity (SEC Form 4)
0 open-market purchases and 8 open-market sales by insiders in the last 90 days.
- Last 30 days0 buys · 2 sells ($215816) — 2 selling insiders
- Last 90 days0 buys · 8 sells ($981217) — 3 selling insiders
- Last 180 days0 buys · 11 sells ($1M) — 3 selling insiders
Activity heuristic: net selling (a transparent product heuristic from the counts above, not a prediction or advice)
Most recent open-market transaction: 2026-08-03. As of 2026-08-24.
View full insider trading history → View SEC Form 3/4/5 filingsAsk about NCMI's insider activity →
Only open-market purchases (SEC code P) and sales (code S) are counted here. Option exercises, vesting/awards, gifts, and shares withheld for taxes are excluded — they are compensation or mechanical, not open-market conviction. Sales may be planned and non-discretionary (e.g. a Rule 10b5-1 plan) and are not necessarily bearish; open-market buying is not a recommendation to buy. Informational only — not financial advice.
Institutional ownership (13F)
5 institutional 13F filers reported holding NCMI as of 2026-03-31 (quarter-end position, filed within 45 days).
- Distinct 13F filers 5
- Reported shares held 7,215,361
- Reported value $22,006,851
reported quarterly holdings change (2025-12-31 → 2026-03-31): 1 new, 2 increased, 2 decreased, 0 exited. Change counts cover only managers that filed 13F reports in BOTH quarters, derived between two quarter-end snapshots — not same-day trades; a single manager is never said to have "bought" or "sold".
Institutional holdings are quarter-end long positions reported on SEC Form 13F-HR, filed up to 45 days after the quarter ends — they are delayed, are not real-time trades, exclude short positions and most non-US securities, and are not investment advice. Any increase/decrease is a reported change between two quarterly snapshots, not a same-day purchase or sale. These are quarter-end snapshots from the 13F filings on SEC EDGAR, filed within 45 days — not real-time, and any change is a difference between two quarterly reports, not a same-day trade. Informational only — not financial advice.
Short interest (FINRA)
NCMI had 7,183,211 shares of reported short interest as of the 2026-07-31 FINRA settlement date (delayed, bi-monthly; not real-time).
NCMI had 7.64% of its shares outstanding sold short as of the 2026-07-31 FINRA settlement date (percent of FLOAT would be higher — float is not disclosed in the source). FINRA reported 24.18 days to cover at the same settlement.
- Reported short interest (shares) 7,183,211
- Short interest (% of shares outstanding) 7.64%
- Prior settlement (shares) 7,299,777
- Reported change -1.6%
- Days to cover (reported) 24.18
Reported to FINRA as of the 2026-07-31 settlement date. Short interest is reported to FINRA and published on a delayed, bi-monthly schedule (as of a settlement date, disseminated roughly eight business days later) — it is NOT real-time, does not cover every venue or all US trading, and is not a short-squeeze prediction or investment advice. Days-to-cover is the value FINRA reports; percent of float is not shown because the source file carries no share-count denominator — where a percent appears it is of shares OUTSTANDING, the larger base, and is therefore a floor on percent of float. Informational only — not financial advice.
Competitors & peers
- Cinemark Holdings
- AMC Entertainment Holdings (AMC)
- Regal Entertainment / Cineworld
- AMC theater circuits
- Cinemark theater circuits
- Regal / Cineworld theaters (post-July 2023 network affiliate)
- Art house and luxury movie theaters
- Dine-in theater chains
- National brand advertisers
- Dependence on exhibitor relationships: Regal terminated its ESA in July 2023; AMC amended and terminated its TRA in April 2025, reducing revenue streams and payment obligations.
AI-enriched competitor set. Linked names are companies covered by stocks-llm; other named peers are shown for reference only.
Compare NCMI vs…
Frequently asked questions
What does NATIONAL CINEMEDIA INC (NCMI) do?
National CineMedia operates a digital cinema advertising network (DCN) and lobby entertainment network (LEN) that displays advertisements and promotional content across thousands of screens in AMC, Cinemark, and other affiliated movie theater circuits. The company generates revenue by selling advertising inventory to national brands and generating fees from theater exhibitors.
What sector is NATIONAL CINEMEDIA INC (NCMI) in?
NATIONAL CINEMEDIA INC (NCMI) is classified in the Communication Services sector. Its industry is Cinema advertising and network services. It trades on NASDAQ.
Does NCMI pay a dividend?
Yes — NATIONAL CINEMEDIA INC (NCMI) pays a dividend, with an indicated yield of about 5.63% and at least 1 years of non-decreasing per-share dividends (SEC EDGAR XBRL) — we do not hold the year before it, so the real streak may be longer (market data, as of 2026-08-24). Informational only — not financial advice.
Who are NATIONAL CINEMEDIA INC's (NCMI) competitors?
Notable peers of NATIONAL CINEMEDIA INC (NCMI) include Cinemark Holdings, AMC Entertainment Holdings, Regal Entertainment / Cineworld, AMC theater circuits and Cinemark theater circuits. This peer set is informational only — not financial advice.
Is NATIONAL CINEMEDIA INC (NCMI) overbought or oversold right now?
NATIONAL CINEMEDIA INC (NCMI) is currently neither overbought nor oversold — its 14-day RSI (a 0–100 momentum gauge) is 33, in the neutral middle (as of 2026-08-21). RSI describes recent price momentum, not a forecast — informational only, not financial advice.
Where does stocks-llm's data on NCMI come from?
Fundamentals and prices come from market data, as of 2026-08-24; company filings and profile facts come from SEC EDGAR. All figures are delayed daily-close data shown with their as-of date — informational only, not financial advice.
Fundamentals: market data, as of 2026-08-24. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-08-21.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & market data, shown with their as-of date.