National Beneish M Score

NCMI
 Stock
  

USD 0.47  0.01  2.17%   

This module uses fundamental data of National Cinemedia to approximate the value of its Beneish M Score. National Cinemedia M Score tells investors if the company management is likely to be manipulating earnings. The score is calculated using eight financial indicators that are adjusted by a specific multiplier. Please note, the M Score is a probabilistic model and cannot detect companies that manipulate their earnings with 100% accuracy. Additionally, see National Cinemedia Piotroski F Score and National Cinemedia Altman Z Score analysis.
  
National Cinemedia Debt Current is most likely to decrease significantly in the upcoming years. The last year's value of Debt Current was reported at 2.43 Million. The current Issuance Repayment of Debt Securities is estimated to increase to about 153 M, while Total Debt is projected to decrease to roughly 1.2 B. National Cinemedia PPandE Turnover is most likely to decrease significantly in the upcoming years. The last year's value of PPandE Turnover was reported at 3.42. The current Receivables Turnover is estimated to increase to 1.14, while Operating Margin is projected to decrease to (79.64) .
At this time, it appears that National Cinemedia is an unlikely manipulator. The earnings manipulation may begin if National Cinemedia's top management creates an artificial sense of financial success, forcing the stock price to be traded at a high price-earnings multiple than it should be. In general, excessive earnings management by National Cinemedia executives may lead to removing some of the operating profits from subsequent periods to inflate earnings in the following periods. This way, the manipulation of National Cinemedia's earnings can lead to misrepresentations of actual financial condition, taking the otherwise loyal stakeholders on to the path of questionable ethical practices and plain fraud.
-3.36
Beneish M Score - Unlikely Manipulator
Elasticity of Receivables1.0Focus
Asset Quality1.0Focus
Expense Coverage1.15Focus
Gross Margin Strengs1.07Focus
Accruals Factor1.15Focus
Depreciation Resistance1.03Focus
Net Sales Growth1.03Focus
Financial Leverage Condition0.95Focus

National Cinemedia Beneish M-Score Indicator Trends

The cure to earnings manipulation is the transparency of financial reporting. It will typically remove the temptation of the top executives to inflate earnings (i.e., to promote the idea of 'winning at any cost'). Because a healthy internal audit department can enhance transparency, the board should promote the auditors' access to all the record-keeping systems across the enterprise. For example, if National Cinemedia's auditors report directly to the board (not management), the managers will be reluctant to manipulate simply due to the fear of punishment. On the other hand, the auditors will be free to investigate the ledgers properly because they know that the board has their back.
Current ValueLast YearChange From Last Year 10 Year Trend
Selling General and Administrative Expense73 M61.6 M
Fairly Up
Decreasing
Slightly volatile
Revenues106.7 M104 M
Fairly Up
Decreasing
Slightly volatile
Trade and Non Trade Receivables15 M14.6 M
Fairly Up
Decreasing
Slightly volatile
Property Plant and Equipment Net32.4 M31.6 M
Fairly Up
Increasing
Slightly volatile
Operating Income(72 M)(70.2 M)
Fairly Down
Decreasing
Slightly volatile
Net Cash Flow from Operations95.7 M63.6 M
Way Up
Decreasing
Slightly volatile
Liabilities Non Current1.3 B1.3 B
Sufficiently Up
Increasing
Slightly volatile
Current Liabilities59 M57.5 M
Fairly Up
Decreasing
Slightly volatile
Total Liabilities1.2 B1.2 B
Slightly Up
Decreasing
Slightly volatile
Investments Non Current1.8 M1.8 M
Fairly Up
Decreasing
Slightly volatile
Investments Current277.1 K270 K
Fairly Up
Decreasing
Slightly volatile
Investments2.1 M2.1 M
Fairly Up
Decreasing
Slightly volatile
Gross Margin97.1190.96
Notably Up
Decreasing
Very volatile
Depreciation Amortization and Accretion41.6 M43.4 M
Sufficiently Down
Increasing
Slightly volatile
Debt Non Current1.2 B1.2 B
Fairly Down
Increasing
Slightly volatile
Debt Current3.4 M2.4 M
Significantly Up
Decreasing
Slightly volatile
Total Debt1.2 B1.2 B
Fairly Down
Increasing
Slightly volatile
Assets Non Current874.9 M789.2 M
Significantly Up
Decreasing
Stable
Current Assets242.5 M229.9 M
Notably Up
Increasing
Slightly volatile
Total Assets834.1 M797.6 M
Sufficiently Up
Decreasing
Slightly volatile

National Cinemedia Beneish M-Score Driver Matrix

One of the toughest challenges investors face today is learning how to quickly synthesize historical financial statements and information provided by the company, SEC reporting, and various external parties in order to detect the potential manipulation of earnings. Understanding the correlation between National Cinemedia's different financial indicators related to revenue, expenses, operating profit, and net earnings helps investors identify and prioritize their investing strategies towards National Cinemedia in a much-optimized way. Analyzing correlations between earnings drivers directly associated with dollar figures is the most effective way to find National Cinemedia's degree of accounting gimmicks and manipulations.

About National Cinemedia Beneish M Score

M-Score is one of many grading techniques for value stocks. It was developed by Professor M. Daniel Beneish of the Kelley School of Business at Indiana University and published in 1999 under the paper titled The Detection of Earnings Manipulation. The Beneish score is a multi-factor model that utilizes financial identifiers to compile eight variables used to classify whether a company has manipulated its reported earnings. The variables are built from the officially filed financial statements to create a final score call 'M Score.' The score helps to identify companies that are likely to manipulate their profits if they show deteriorating gross margins, operating expenses, and leverage against growing revenue.

Depreciation Amortization and Accretion

41.62 Million

National Cinemedia Depreciation Amortization and Accretion is most likely to increase significantly in the upcoming years. The last year's value of Depreciation Amortization and Accretion was reported at 43.35 Million

About National Cinemedia Fundamental Analysis

The Macroaxis Fundamental Analysis modules help investors analyze National Cinemedia's financials across various querterly and yearly statements, indicators and fundamental ratios. We help investors to determine the real value of National Cinemedia using virtually all public information available. We use both quantitative as well as qualitative analysis to arrive at the intrinsic value of National Cinemedia based on its fundamental data. In general, a quantitative approach, as applied to this company, focuses on analyzing financial statements comparatively, whereas a qaualitative method uses data that is important to a company's growth but cannot be measured and presented in a numerical way.
Please read more on our fundamental analysis page.
National CineMedia, Inc., through its subsidiary, National CineMedia, LLC, operates cinema advertising network in North America. The company was incorporated in 2006 and is headquartered in Centennial, Colorado. National Cinemedia operates under Advertising Agencies classification in the United States and is traded on NASDAQ Exchange. It employs 346 people.

National Cinemedia Investors Sentiment

The influence of National Cinemedia's investor sentiment on the probability of its price appreciation or decline could be a good factor in your decision-making process regarding taking a position in National. The overall investor sentiment generally increases the direction of a stock movement in a one-year investment horizon. However, the impact of investor sentiment on the entire stock markets does not have a solid backing from leading economists and market statisticians.
Investor biases related to National Cinemedia's public news can be used to forecast risks associated with investment in National. The trend in average sentiment can be used to explain how an investor holding National can time the market purely based on public headlines and social activities around National Cinemedia. Please note that most equiteis that are difficult to arbitrage are affected by market sentiment the most.
National Cinemedia's market sentiment shows the aggregated news analyzed to detect positive and negative mentions from the text and comments. The data is normalized to provide daily scores for National Cinemedia's and other traded tickers. The bigger the bubble, the more accurate is the estimated score. Higher bars for a given day show more participation in the average National Cinemedia's news discussions. The higher the estimated score, the more favorable is the investor's outlook on National Cinemedia.
Some investors attempt to determine whether the market's mood is bullish or bearish by monitoring changes in market sentiment. Unlike more traditional methods such as technical analysis, investor sentiment usually refers to the aggregate attitude towards National Cinemedia in the overall investment community. So, suppose investors can accurately measure the market's sentiment. In that case, they can use it for their benefit. For example, some tools to gauge market sentiment could be utilized using contrarian indexes, National Cinemedia's short interest history, or implied volatility extrapolated from National Cinemedia options trading.

Becoming a Better Investor with Macroaxis

Macroaxis puts the power of mathematics on your side. We analyze your portfolios and positions such as National Cinemedia using complex mathematical models and algorithms, but make them easy to understand. There is no real person involved in your portfolio analysis. We perform a number of calculations to compute absolute and relative portfolio volatility, correlation between your assets, value at risk, expected return as well as over 100 different fundamental and technical indicators.

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Additionally, see National Cinemedia Piotroski F Score and National Cinemedia Altman Z Score analysis. You can also try Premium Stories module to follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope.

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When running National Cinemedia price analysis, check to measure National Cinemedia's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy National Cinemedia is operating at the current time. Most of National Cinemedia's value examination focuses on studying past and present price action to predict the probability of National Cinemedia's future price movements. You can analyze the entity against its peers and financial market as a whole to determine factors that move National Cinemedia's price. Additionally, you may evaluate how the addition of National Cinemedia to your portfolios can decrease your overall portfolio volatility.
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Is National Cinemedia's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of National Cinemedia. If investors know National will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about National Cinemedia listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth YOY
(0.15) 
Market Capitalization
38.1 M
Quarterly Revenue Growth YOY
0.72
Return On Assets
(0.0053) 
The market value of National Cinemedia is measured differently than its book value, which is the value of National that is recorded on the company's balance sheet. Investors also form their own opinion of National Cinemedia's value that differs from its market value or its book value, called intrinsic value, which is National Cinemedia's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because National Cinemedia's market value can be influenced by many factors that don't directly affect National Cinemedia's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between National Cinemedia's value and its price as these two are different measures arrived at by different means. Investors typically determine National Cinemedia value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, National Cinemedia's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.