What is National CineMedia's net debt?

National CineMedia (NCMI) reported net debt of -$29.3M in Q1 2026.

How has National CineMedia's net debt changed year-over-year?

National CineMedia's net debt increased by 40.4% year-over-year, from -$49.2M to -$29.3M.

What is the long-term trend for National CineMedia's net debt?

Over 5 years (2020 to 2025), National CineMedia's net debt has grown at a -56.0% compound annual growth rate (CAGR), from $894.6M to -$14.8M.

What does net debt mean?

Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.

National CineMedia NCMI Net debt

Discontinued — last reported Q1 '26

Net debt at other companies

Cabot CorporationCBT

1.1×-0.3×

Travel + LeisureTNL

6×+1.6×

UnifirstUNF

-0.2×-0.1×

HES

Hess MidstreamHESM

3.1×-0.1×

Helen Of TroyHELE

4.8×+2.6×

CorMedixCRMD

-0.9×—

Other financials

Income statement

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Revenue$34.0M-2.6%

Gross profit$30.0M-5.7%

Operating income-$26.9M-12.6%

Net income-$28.6M+6.8%

EPS (diluted)-$0.31+3.1%

Balance sheet

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Cash & equivalents$51.6M-18.1%

Total debt$22.3M+61.6%

Total equity$344.8M-7.0%

Total assets$468.7M-7.0%

Cash flow

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Operating cash flow$18.1M+202%

CapEx$300.0K-57.1%

Free cash flow$17.8M+236%

Valuation

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Market cap$332.92M-31.8%

Enterprise value$303.62M-30.9%

P/S1.4×-0.7×

Profitability

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Gross margin94.2%-0.2pp

Operating margin-11.9%—

Net margin-9.5%—

FCF margin6.3%-10.4pp

Returns & leverage

See full

Return on equity-5.9%—

Debt / equity0.1×0.0×

Current ratio1.8×-0.5×

Where this comes from

Calculated from National CineMedia’s reported figures.

$22.3Mtotal debt−$51.6Mcash and equivalents=-$29.3M

The official record: National CineMedia’s 10-Q, filed May 12, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is National CineMedia's net debt?: National CineMedia (NCMI) reported net debt of -$29.3M in Q1 2026.
How has National CineMedia's net debt changed year-over-year?: National CineMedia's net debt increased by 40.4% year-over-year, from -$49.2M to -$29.3M.
What is the long-term trend for National CineMedia's net debt?: Over 5 years (2020 to 2025), National CineMedia's net debt has grown at a -56.0% compound annual growth rate (CAGR), from $894.6M to -$14.8M.
What does net debt mean?: Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.