NCMI on Nasdaq
National CineMedia
Logo: National CineMedia, Public domain, via Wikimedia Commons4
American cinema advertising company
National CineMedia, Inc. (NCM) is an American cinema advertising company.3 From Wikipedia, CC BY-SA 4.0
Price unavailable
Last updated Oct 18, 2026.
Overview
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- TickerNCMI on Nasdaq1
- Industryentertainment1
- HeadquartersCentennial1
- Websitewww.nationalcinemedia.com
- Legal formpublic company1
- Incorporated inDE6
- Business address6300 S. Syracuse Way, Suite 300, Centennial, Co 801116
- Filer categoryAccelerated filer6
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National CineMedia, Inc. (NCM) is an American cinema advertising company. NCM displays ads to U.S. consumers in movie theaters, online and through mobile technology. NCM presents cinema advertising across a digital in-theater network, consisting of theaters owned by AMC Theatres, Cinemark Theatres, Regal Cinemas and other regional theater circuits.3
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2026
-5.7%Operating margin5
-4.4%Net margin5
-2.8%Return on equity5
0.03×Debt to equity5
$2.8MFree cash flow5
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
National Advertising Revenue brought in 79% of the revenue National CineMedia broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2023 | 2024 | 2025 |
|---|---|---|---|
| National Advertising Revenue | $114.8M | $188.0M | $194.5M |
| Local Advertising Revenue | $30.4M | $39.1M | $34.6M |
| Founding Member Advertising Revenue From Beverage Concessionaire Agreements | $9.9M | $13.7M | $14.1M |
| Barter Transaction Revenue | $100.0K | $500.0K | $3.4M |
Where the money goes
Where each dollar of revenue went, fiscal 2026
- Cost of revenue5¢$13.0M
- Research and development1¢$3.1M
- Other costs93¢$227.1M
Out of $243.2M in revenue.5 The company lost money this year.
Where each dollar of operating cash went, fiscal 2026
- Capital spending14¢$5.6M
- Dividends paid29¢$11.4M
- Share buybacks56¢$22.0M
Out of $8.4M of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.5
Financial statements
Every line of the income statement in the latest annual report, as filed.5
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Revenue (including revenue from related parties of $0.1, $0.0 and $14.2, respectively) | $243.2M | $240.8M | $165.2M |
| Network operating costs | $13.0M | $13.7M | $10.6M |
| Selling and marketing costs | $41.6M | $41.6M | $29.6M |
| Administrative and other costs | $46.1M | $50.7M | $57.3M |
| Depreciation expense | $4.6M | $4.6M | $3.1M |
| Amortization expense | $33.3M | $37.8M | $22.4M |
| Total | $257.1M | $260.3M | $192.5M |
| OPERATING LOSS | -$13.9M | -$19.5M | -$27.3M |
| Interest on borrowings | $600.0K | $1.7M | $27.9M |
| Interest income | -$1.4M | -$2.4M | -$100.0K |
| (Gain) loss on re-measurement of the payable under the tax receivable agreement | -$3.7M | $4.6M | $9.3M |
| Loss on debt extinguishment | $1.8M | $0 | $0 |
| Gain on deconsolidation of affiliate | $0 | $0 | -$557.7M |
| Gain on reconsolidation of NCM LLC | $0 | $0 | -$167.8M |
| Other non-operating income, net | -$600.0K | -$1.3M | -$100.0K |
| Total | -$3.3M | $2.6M | -$724.0M |
| (LOSS) INCOME BEFORE INCOME TAXES | -$10.6M | -$22.1M | $696.7M |
| Income tax expense | $0 | $200.0K | $0 |
| CONSOLIDATED NET (LOSS) INCOME | -$10.6M | -$22.3M | $696.7M |
| Less: Net loss attributable to noncontrolling interests | $0 | $0 | -$8.5M |
| NET (LOSS) INCOME ATTRIBUTABLE TO NCM, INC. | -$10.6M | -$22.3M | $705.2M |
| COMPREHENSIVE (LOSS) INCOME ATTRIBUTABLE TO NCM, INC. | -$10.6M | -$22.3M | $705.2M |
| Basic (in usd per share) | -$0.11 | -$0.23 | $14.73 |
| Diluted (in usd per share) | -$0.11 | -$0.23 | $14.34 |
| Basic (in shares) | 94.2M shares | 95.9M shares | 47.9M shares |
| Diluted (in shares) | 94.2M shares | 95.9M shares | 48.6M shares |
| Theater exhibition fees | $118.5M | $111.9M | $69.5M |
Every line of the balance sheet in the latest annual report, as filed.5
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Cash and cash equivalents | $34.6M | $75.1M | |
| Restricted cash | $3.0M | $3.0M | |
| Receivables, net of allowance of $1.1 and $1.2, respectively | $96.5M | $85.3M | |
| Amounts due from ESA Parties | $0 | $10.6M | |
| Prepaid expenses and other current assets | $4.0M | $3.9M | |
| Total current assets | $138.1M | $177.9M | |
| Property and equipment, net of accum. depreciation of $8.4 and $4.8, respectively | $19.4M | $16.4M | |
| Intangible assets, net of accum. amortization of $86.2 and $52.8, respectively | $308.8M | $350.8M | $394.3M |
| Goodwill | $500.0K | $0 | |
| Other investments | $8.1M | $3.8M | |
| Debt issuance costs, net | $700.0K | $1.6M | |
| Other assets | $15.0M | $18.1M | |
| Total non-current assets | $352.5M | $390.7M | |
| TOTAL ASSETS | $490.6M | $568.6M | |
| Amounts due to ESA Parties, net | $6.8M | $3.8M | |
| Payable under the TRA | $2.9M | $4.1M | |
| Accrued expenses | $1.9M | $1.6M | |
| Accrued payroll and related expenses | $12.1M | $15.6M | |
| Accounts payable | $26.1M | $23.0M | |
| Deferred revenue | $10.8M | $23.6M | |
| Other current liabilities | $1.5M | $1.8M | |
| Total current liabilities | $62.1M | $73.5M | |
| Long-term debt | $12.0M | $10.0M | |
| Payable under the TRA | $30.9M | $59.9M | |
| Long-term lease liabilities | $9.3M | $12.5M | |
| Other liabilities | $900.0K | $1.5M | |
| Total non-current liabilities | $53.1M | $83.9M | |
| Total liabilities | $115.2M | $157.4M | |
| Preferred stock, $0.01 par value; 10,000,000 shares authorized, 50 issued and outstanding, respectively | $0 | $0 | |
| Common stock, $0.01 par value; 260,000,000 shares authorized, 93,353,604 and 95,755,491 issued and outstanding, respectively | $2.5M | $2.5M | |
| Additional paid in capital | $136.5M | $127.8M | |
| Retained earnings | $236.4M | $280.9M | |
| Total NCM, Inc. stockholders' equity | $375.4M | $411.2M | |
| Noncontrolling interests | $0 | $0 | |
| Total equity | $375.4M | $411.2M | $434.5M |
| TOTAL LIABILITIES AND EQUITY | $490.6M | $568.6M | |
| Allowance for doubtful accounts receivable | $1.1M | $1.2M | |
| Accumulated depreciation, property and equipment | $8.4M | $4.8M | |
| Accumulated amortization, intangible assets | $86.1M | $52.8M | $15.0M |
| Preferred stock, par value (in usd per share) | $0.01 | $0.01 | |
| Preferred stock, shares authorized (in shares) | 10.0M shares | 10.0M shares | |
| Preferred stock, shares issued (in shares) | 50 shares | 50 shares | |
| Preferred stock, shares outstanding (in shares) | 50 shares | 50 shares | |
| Common stock, par value (in usd per share) | $0.01 | $0.01 | |
| Common stock, shares authorized (in shares) | 260.0M shares | 260.0M shares | |
| Common stock, shares issued (in shares) | 93.4M shares | 95.8M shares | |
| Common stock, shares outstanding (in shares) | 93.4M shares | 95.8M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow in the latest annual report, as filed.5
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Consolidated net (loss) income | -$10.6M | -$22.3M | $696.7M |
| Depreciation expense | $4.6M | $4.6M | $3.1M |
| Amortization expense | $33.3M | $37.8M | $22.4M |
| Non-cash share-based compensation | $9.3M | $12.2M | $4.5M |
| Amortization of debt issuance costs | $400.0K | $800.0K | $3.4M |
| Non-cash (gain) loss on re-measurement of the TRA payable | -$3.7M | $4.6M | $9.3M |
| Non-cash consideration received for advertising services | -$2.3M | $0 | $0 |
| Gain on deconsolidation of affiliate | $0 | $0 | -$557.7M |
| Gain on re-measurement of NCM LLC | $0 | $0 | -$35.5M |
| Gain on reconsolidation of NCM LLC | $0 | $0 | -$167.8M |
| Other | $1.8M | -$500.0K | -$300.0K |
| ESA Party integration and encumbered theater payments | $700.0K | $1.2M | $5.0M |
| Payments to the ESA Parties under the tax receivable agreement | -$1.3M | $0 | $0 |
| Proceeds received from equity method investment | $600.0K | $0 | $0 |
| Other cash flows from operating activities, net | -$300.0K | $0 | -$800.0K |
| Receivables, net | -$8.9M | $10.6M | $36.3M |
| Accounts payable and accrued expenses | -$3.3M | -$100.0K | -$2.7M |
| Amounts due to ESA Parties, net | $2.8M | $2.5M | -$4.2M |
| Deferred revenue | -$14.6M | $13.2M | -$5.4M |
| Prepaid expenses | $500.0K | -$4.9M | -$11.0M |
| Other, net | -$600.0K | $600.0K | -$2.0M |
| Net cash provided by (used in) operating activities | $8.4M | $60.3M | -$6.7M |
| Purchases of property and equipment | -$5.6M | -$5.8M | -$3.3M |
| Purchase of strategic investments | -$2.0M | -$1.0M | $0 |
| Purchase of a business | -$7.5M | $0 | $0 |
| Cash contributed upon reconsolidation | $0 | $0 | -$15.5M |
| Cash, cash equivalents and restricted cash reconsolidated | $0 | $0 | $49.5M |
| Proceeds received from equity method investment | $0 | $1.2M | $600.0K |
| Other cash flows from investing activities, net | -$300.0K | -$100.0K | $1.3M |
| Net cash (used in) provided by investing activities | -$15.4M | -$5.7M | $32.6M |
| Payment of dividends | -$11.4M | -$300.0K | -$500.0K |
| Purchases of NCM, Inc.'s common stock | -$22.0M | -$13.1M | $0 |
| Repayments of term loan facilities | -$20.0M | $0 | -$800.0K |
| Proceeds from term loan facilities | $22.0M | $0 | $0 |
| Removal of cash, cash equivalents and restricted cash of unconsolidated affiliate | $0 | $0 | -$49.6M |
| Payment of debt issuance costs | -$1.5M | $0 | -$1.2M |
| Other cash flows from financing activities | -$600.0K | -$700.0K | |
| Net cash used in financing activities | -$33.5M | -$14.1M | -$52.1M |
| CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH | -$40.5M | $40.5M | -$26.2M |
| Purchase of an intangible asset with NCM LLC equity | $0 | $700.0K | $0 |
| Purchase of subsidiary equity with NCM, Inc. equity | $0 | $0 | $2.6M |
| Accrued purchases of property and equipment | $0 | $100.0K | $800.0K |
| Right of use assets obtained in exchange for lease liabilities | $0 | $9.1M | $0 |
| Cost method investment obtained in exchange for advertising inventory | $2.3M | $2.0M | $0 |
| Increase in dividend equivalent accrual not requiring cash in the period | $200.0K | $0 | $0 |
| Cash paid for interest | $200.0K | $900.0K | $12.5M |
| Cash payments for income taxes | $13.0K | $78.4K | $0 |
Leadership
Who has led National CineMedia, and when. Pick a name to see everywhere that person has worked.
Chief financial officer
Chief operating officer
20052010201520202025
- Chief executive officerThomas F. Lesinski Aug 5, 2019 to now14
- Chief executive officerAndrew J. England Jan 7, 2016 to Jan 26, 201815
- Chief executive officerKurt C. Hall Feb 7, 2007 to Feb 25, 201516
- ChairKurt C. Hall Feb 12, 2007 to Feb 25, 201517
- PresidentScott D. Felenstein Jul 8, 2021 to Feb 27, 202418
- PresidentClifford E. Marks Oct 19, 2010 to May 4, 202119
- PresidentKurt C. Hall Feb 7, 2007 to Feb 25, 201516
- Chief financial officerRonnie Y. Ng Sep 29, 2021 to now20
- Chief financial officerKatherine Lee Scherping Aug 12, 2016 to Feb 26, 202021
- Chief financial officerDavid J. Oddo Mar 8, 2013 to May 2, 201622
- Chief financial officerJeffrey T. Cabot Mar 8, 2013 to May 2, 201623
- Chief financial officerGary W. Ferrera Feb 7, 2007 to Feb 27, 201324
- Chief operating officerAlfonso P. Rosabal Jr. Jan 6, 2014 to Nov 29, 201625
Board members and other officers (41)
- Principal Accounting OfficerJulie L. Patterson May 4, 2020 to Aug 3, 202126
- EVP & Chief Revenue OfficerScott D. Felenstein Mar 20, 2018 to May 4, 202127
- EVP, People & OrganizationGeri R. House Jan 30, 2017 to Mar 1, 201728
- OfficerSoohyung Kim Dec 6, 2017 to Sep 9, 202229
- EVP, Gen. Counsel & SecretaryJeffrey T. Cabot Feb 25, 2015 to Feb 25, 201530
- EVP & Chief Operations OfficerEarl B. Weihe Jan 15, 2010 to Aug 26, 201331
- Chief Marketing OfficerClifford E. Marks Feb 7, 2007 to Sep 27, 201232
- Chief Technology OfficerThomas C. Galley Feb 7, 2007 to Sep 21, 200933
- EVP, Gen. Counsel & SecretaryRalph E. Hardy Feb 15, 2007 to Jan 23, 201834
- Board memberMark James Van Lill Sadie May 11, 2026 to now35
- Board memberKotzman Kelly Campbell May 5, 2025 to now36
- Board memberSimon Mullaly Oct 24, 2025 to now37
- Board memberNathan Lane May 23, 2024 to now38
- Board memberBernadette S. Aulestia Aug 16, 2023 to now39
- Board memberJean-Philippe Maheu Aug 16, 2023 to now40
- Board memberLauren Zalaznick Aug 16, 2023 to now41
- Board memberTiago Lourenco Aug 16, 2023 to Aug 16, 202342
- Board memberMark Zoradi Apr 1, 2021 to Feb 27, 202343
- Board memberJuliana F. Hill Aug 24, 2020 to now44
- Board memberDonna Reisman Nov 1, 2019 to Feb 27, 202345
- Board memberDavid Edward Glazek Nov 26, 2019 to now46
- Board memberMark B. Segall Mar 15, 2018 to Feb 27, 202347
- Board memberRenana Teperberg Mar 22, 2018 to Mar 22, 201848
- Board memberAndrew P. Glaze Jul 11, 2018 to Aug 5, 201949
- Board memberSoohyung Kim Sep 22, 2017 to Sep 9, 202250
- Board memberAndrew J. England Jan 7, 2016 to Jan 26, 201815
- Board memberThomas F. Lesinski Jan 5, 2015 to now51
- Board memberPeter B. Brandow Apr 16, 2015 to Apr 16, 201552
- Board memberPaula Williams Madison Mar 12, 2014 to Feb 20, 201853
- Board memberAmy E. Miles Jun 5, 2014 to Jun 5, 201454
- Board memberEdward H. Meyer Feb 7, 2007 to Jan 22, 201455
- Board memberKurt C. Hall Feb 7, 2007 to Feb 27, 202316
- Board memberLawrence A. Goodman Feb 7, 2007 to Feb 27, 202356
- Board memberLee Roy Mitchell Feb 7, 2007 to Feb 7, 200757
- Board memberMichael L. Campbell Feb 7, 2007 to Feb 7, 200758
- Board memberStephen L. Lanning Feb 7, 2007 to Feb 20, 201859
- Board memberJames R. Holland Jr. Feb 8, 2007 to Feb 19, 201460
- Board memberDavid R. Haas Feb 9, 2007 to Feb 25, 202061
- General counselMaria Vg Woods Sep 3, 2021 to now62
- General counselSarah Kinnick Hilty Feb 12, 2018 to May 4, 202163
- General counselRalph E. Hardy Feb 7, 2007 to Feb 7, 200764
Timeline
Recent filings
- Oct 9, 2026SCHEDULE 13D
- Oct 2, 20264
- Oct 2, 20264
- Oct 2, 20264
- Sep 28, 2026144
- Sep 28, 2026144
- Sep 28, 2026144
- Sep 21, 20268-K
- Sep 8, 2026SCHEDULE 13G/A
- Aug 18, 20264
- Aug 14, 2026SCHEDULE 13G/A
- Aug 12, 2026SCHEDULE 13G/A
- Aug 11, 20268-K
- Aug 11, 20268-K
- Aug 11, 202610-Q
Every filing from the last three years, summarized. The full record is on SEC EDGAR.2
Links
- Websitewww.nationalcinemedia.com1
- WikipediaNational CineMedia
- WikidataQ6971495
- SEC EDGARCIK 1377630
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1WikidataNational CineMedia on Wikidata
- 2
- 3WikipediaNational CineMedia on Wikipedia
- 4Wikimedia CommonsNational CineMedia logo by National CineMedia, Public domain
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- 17SEC EDGARKurt C. Hall, Chair
- 18SEC EDGARScott D. Felenstein, President
- 19SEC EDGARClifford E. Marks, President
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- 29SEC EDGARSoohyung Kim, Officer
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- 36SEC EDGARKotzman Kelly Campbell, Board member
- 37SEC EDGARSimon Mullaly, Board member
- 38SEC EDGARNathan Lane, Board member
- 39SEC EDGARBernadette S. Aulestia, Board member
- 40SEC EDGARJean-Philippe Maheu, Board member
- 41SEC EDGARLauren Zalaznick, Board member
- 42SEC EDGARTiago Lourenco, Board member
- 43SEC EDGARMark Zoradi, Board member
- 44SEC EDGARJuliana F. Hill, Board member
- 45SEC EDGARDonna Reisman, Board member
- 46SEC EDGARDavid Edward Glazek, Board member
- 47SEC EDGARMark B. Segall, Board member
- 48SEC EDGARRenana Teperberg, Board member
- 49SEC EDGARAndrew P. Glaze, Board member
- 50SEC EDGARSoohyung Kim, Board member
- 51SEC EDGARThomas F. Lesinski, Board member
- 52SEC EDGARPeter B. Brandow, Board member
- 53SEC EDGARPaula Williams Madison, Board member
- 54SEC EDGARAmy E. Miles, Board member
- 55SEC EDGAREdward H. Meyer, Board member
- 56SEC EDGARLawrence A. Goodman, Board member
- 57SEC EDGARLee Roy Mitchell, Board member
- 58SEC EDGARMichael L. Campbell, Board member
- 59SEC EDGARStephen L. Lanning, Board member
- 60SEC EDGARJames R. Holland Jr., Board member
- 61SEC EDGARDavid R. Haas, Board member
- 62SEC EDGARMaria Vg Woods, General counsel
- 63SEC EDGARSarah Kinnick Hilty, General counsel
- 64SEC EDGARRalph E. Hardy, General counsel