National CineMediaFRA:XWM0 +1.22%60 Altman Z-Score is 2.98 as of Jul. 09, 2026, which is 184% above its 10-year median of 1.05. GuruFocus rates FRA:XWM0 with a GF Score™ of 60/100 and a GF Value™ of €3.87. The stock has 3 warning signs investors should review. Among 1,009 Media - Diversified companies, National CineMedia ranks better than 67.79% on this metric.
The Altman Z-Score is a model designed to predict the likelihood of a company going bankrupt within the next two years. Created by American finance professor Edward Altman in 1968, the model is specifically designed for publicly traded manufacturing companies with assets greater than $1 million.
Warning Sign:
Altman Z-score of 2.96 is in the grey area. This implies that the company is under some kind of financial stress. If it is below 1.8, the company may face bankruptcy risk.
National CineMedia has a Altman Z-Score of 2.98, indicating it is in Grey Zones. This implies that National CineMedia is in some kind of financial stress. If it is below 1.81, the company may face bankrupcy risk.
The zones of discrimination were as such:
When Altman Z-Score <= 1.8, it is in Distress Zones.
When Altman Z-Score >= 3, it is in Safe Zones.
When Altman Z-Score is between 1.8 and 3, it is in Grey Zones.
The historical rank and industry rank for National CineMedia's Altman Z-Score or its related term are showing as below:
FRA:XWM0'
s Altman Z-Score Range Over the Past 10 Years
Min: -2.14 Med: 1.05 Max: 50.8
Current: 2.96
During the past 13 years, National CineMedia's highest Altman Z-Score was 50.80. The lowest was -2.14. And the median was 1.05.
National CineMedia (FRA:XWM0) Altman Z-Score Explanation
X1: The Working Capital/Total Assets (WC/TA) ratio is a measure of the net liquid assets of the firm relative to the total capitalization. Working capital is defined as the difference between current assets and current liabilities. Ordinarily, a firm experiencing consistent operating losses will have shrinking current assets in relation to total assets. Altman found this one proved to be the most valuable liquidity ratio comparing with the current ratio and the quick ratio. This is however the least significant of the five factors.
X2: Retained Earnings/Total Assets: the RE/TA ratio measures the leverage of a firm. Retained earnings is the account which reports the total amount of reinvested earnings and/or losses of a firm over its entire life. Those firms with high RE, relative to TA, have financed their assets through retention of profits and have not utilized as much debt.
X3, Earnings Before Interest and Taxes/Total Assets (EBIT/TA): This ratio is a measure of the true productivity of the firm's assets, independent of any tax or leverage factors. Since a firm's ultimate existence is based on the earning power of its assets, this ratio appears to be particularly appropriate for studies dealing with corporate failure. This ratio continually outperforms other profitability measures, including cash flow.
X4, Market Value of Equity/Book Value of Total Liabilities (MVE/TL): The measure shows how much the firm's assets can decline in value (measured by market value of equity plus debt) before the liabilities exceed the assets and the firm becomes insolvent.
X5, Revenue/Total Assets (S/TA): The capital-turnover ratio is a standard financial ratio illustrating the sales generating ability of the firm's assets.
Altman Z-Score does not apply to financial companies.
National CineMedia Altman Z-Score Related Terms
National CineMedia Altman Z-Score Historical Data
* Premium members only.
The historical data trend for National CineMedia's Altman Z-Score 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.
FRA:XWM0 vs NEXN, TC, TSQ: Altman Z-Score Comparison
For the Advertising Agencies subindustry, National CineMedia's Altman Z-Score, along with its competitors' market caps and Altman Z-Score data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
National CineMedia Altman Z-Score vs Media - Diversified Industry
For the Media - Diversified industry and Communication Services sector, National CineMedia's Altman Z-Score distribution charts can be found below:
* The bar in red indicates where National CineMedia's Altman Z-Score falls into.
Altman Z-Score model is an accurate forecaster of failure up to two years prior to distress. It can be considered the assessment of the distress of industrial corporations.
National CineMedia's Altman Z-Score for today is calculated with this formula:
Z
=
1.2
*
X1
+
1.4
*
X2
+
3.3
*
X3
+
0.6
*
X4
+
1.0
*
X5
=
1.2
*
0.1205
+
1.4
*
0.4359
+
3.3
*
-0.0175
+
0.6
*
2.9468
+
1.0
*
0.5129
=
2.98
* 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. GuruFocus does not calculate Altman Z-Score when X4 or X5 value is 0.
National CineMedia (FRA:XWM0) has a Altman Z-Score of 2.98 as of Jul. 09, 2026. The Altman Z-score measures a company's bankruptcy risk. View historical data on National CineMedia and its competitors. This is 184% above median its historical median of 1.05. According to the industry distribution chart, National CineMedia ranks #325 out of 1009 companies in the Media - Diversified industry, placing it in the top 32.2%.
Is National CineMedia's Altman Z-Score too high?
National CineMedia's current Altman Z-Score of 2.98 is 184% above median its 10-year median of 1.05. The Media - Diversified industry median Altman Z-Score is 1.97. National CineMedia's value of 2.98 is 51.3% above this industry median. Based on the distribution chart, National CineMedia ranks #325 out of 1009 companies in the Media - Diversified industry, which is above the industry midpoint. 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 Altman Z-Score compare to NEXN and TC?
According to the Media - Diversified industry distribution chart, National CineMedia ranks #325 out of 1009 companies for Altman Z-Score. This puts National CineMedia in the upper half of its industry. The industry median Altman Z-Score is 1.97. National CineMedia's value of 2.98 is 51.3% above this benchmark. While the company's 10-year median is 1.05 vs. the industry median of 1.97, National CineMedia has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Altman Z-Score for a Media - Diversified company?
The median Altman Z-Score among Media - Diversified companies is 1.97, based on 1,009 companies in the industry. Companies in the top quartile (top 25%) have a Altman Z-Score significantly above this median, while those in the bottom quartile fall well below. However, Altman Z-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. National CineMedia's current Altman Z-Score of 2.98 is 51.3% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Altman Z-Score mean?
A high Altman Z-Score can signal that a stock is expensive relative to its fundamentals. The Altman Z-score measures a company's bankruptcy risk. View historical data on National CineMedia and its competitors. For the Media - Diversified industry, the median Altman Z-Score is 1.97 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. National CineMedia's current Altman Z-Score is 2.98, which is 184% above median its own 10-year median of 1.05. 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 Altman Z-Score of 2.98. The stock's GF Value™ is €3.87, compared to a current price of €3.32 — trading 14.2% below its estimated fair value. The current Altman Z-Score is 2.98, which is 184% above median its 10-year median of 1.05 and 51.3% above the Media - Diversified industry median of 1.97. 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 Altman Z-Score calculated?
Altman Z-Score is calculated from a company's financial statements. For National CineMedia (FRA:XWM0), the current Altman Z-Score is 2.98 as of Jul. 09, 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 €3.32 is trading 14.2% below its estimated GF Value™ of €3.87.
Key valuation signals for FRA:XWM0:
Altman Z-Score: 2.98 (184% above median its 10-year median of 1.05)
GF Value™: €3.87 vs. price of €3.32 (14.2% below fair value)
Industry Position: 51.3% above the Media - Diversified median (#325 of 1009)
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
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