Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
National CineMedia's Operating Income for the
three
months ended in Mar. 2026 was €-23.3 Mil.
Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was €-14.9 Mil.
Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.
National CineMedia's annualizedROC % for the quarter that ended in Mar. 2026 was -27.60%.
National CineMedia's annualizedROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was -261.69%.
National CineMedia (FRA:XWM0) Operating Income Explanation
1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.
National CineMedia's annualizedROC % for the quarter that ended in Mar. 2026 is calculated as:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.
Be Aware
Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).
If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.
For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).
Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.
National CineMedia Operating Income Related Terms
National CineMedia Operating Income Historical Data
* Premium members only.
The historical data trend for National CineMedia's Operating Income can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.
Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was €-14.9 Mil.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
National CineMedia (FRA:XWM0) has a Operating Income of €-14.9 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on National CineMedia and its competitors.
Is National CineMedia's Operating Income too high?
National CineMedia's current Operating Income is €-14.9 Mil. Overall, National CineMedia has a GF Score™ of 60/100, reflecting its overall financial health beyond just this single metric.
How does National CineMedia's Operating Income compare to NEXN and TC?
National CineMedia's Operating Income of €-14.9 Mil can be compared against companies in the Media - Diversified industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Operating Income for a Media - Diversified company?
A good Operating Income depends on the Media - Diversified industry context. However, Operating Income should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Operating Income mean?
A high Operating Income can signal that a stock is expensive relative to its fundamentals. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on National CineMedia and its competitors. National CineMedia's current Operating Income is €-14.9 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is National CineMedia stock overvalued right now?
National CineMedia (FRA:XWM0) has a current Operating Income of €-14.9 Mil. The stock's GF Value™ is €3.86, compared to a current price of €3.36 — trading 13% below its estimated fair value. The current Operating Income is €-14.9 Mil. National CineMedia's overall GF Score™ is 60/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Operating Income calculated?
Operating Income is calculated from a company's financial statements. For National CineMedia (FRA:XWM0), the current Operating Income is €-14.9 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is National CineMedia (FRA:XWM0) Overvalued in 2026?
Based on GuruFocus' analysis, National CineMedia stock appears to be undervalued.
The current stock price of €3.36 is trading 13% below its estimated GF Value™ of €3.86.
Key valuation signals for FRA:XWM0:
Operating Income: €-14.9 Mil
GF Value™: €3.86 vs. price of €3.36 (13% below fair value)
No single metric tells the full story. See the FRA:XWM0 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
National CineMedia Inc is a cinema advertising platform in the U.S. It derives revenue from the sale of advertising to national, regional and local businesses through The Noovie Show and the CineLife Show, the cinema advertising and entertainment show seen on movie screens across the U.S., on LEN, a series of strategically-placed screens located in movie theater lobbies, as well as other forms of advertising and promotions in theater lobbies.
60GF Score
Get the complete analysis for FRA:XWM0
Operating Income is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
FRA:XWM0 has been successfully added to your 
