WallStSmart

National CineMedia Inc (NCMI)vsSpotify Technology SA (SPOT)

VS

Smart Verdict

WallStSmart Research — data-driven comparison

Spotify Technology SA generates 6967% more annual revenue ($17.19B vs $243.20M). SPOT leads profitability with a 12.9% profit margin vs -4.4%. NCMI appears more attractively valued with a PEG of 0.70. NCMI earns a higher WallStSmart Score of 64/100 (C+).

NCMI

Buy

64

out of 100

Grade: C+

Growth: 5.3Profit: 4.0Value: 7.7Quality: 7.5
Piotroski: 5/9Altman Z: 2.83

SPOT

Buy

60

out of 100

Grade: C+

Growth: 8.0Profit: 8.0Value: 3.3Quality: 7.5
Piotroski: 4/9Altman Z: 2.66
IV

Intrinsic Value Comparison

Multi-model valuation · Graham Formula

NCMIUndervalued (+54.7%)

Margin of Safety

+54.7%

Fair Value

$7.44

Current Price

$3.39

$4.05 discount

UndervaluedFair: $7.44Overvalued
SPOTSignificantly Overvalued (-47.4%)

Margin of Safety

-47.4%

Fair Value

$330.58

Current Price

$443.57

$112.99 premium

UndervaluedFair: $330.58Overvalued

Key Strengths & Concerns

Side-by-side fundamental analysis

Key Strengths

NCMI5 strengths · Avg: 8.8/10
Price/BookValuation
0.8x10/10

Reasonable price relative to book value

Debt/EquityHealth
0.0310/10

Conservative balance sheet, low leverage

PEG RatioValuation
0.708/10

Growing faster than its price suggests

Operating MarginProfitability
27.8%8/10

Strong operational efficiency at 27.8%

EPS GrowthGrowth
20.8%8/10

Earnings expanding 20.8% YoY

SPOT4 strengths · Avg: 9.5/10
Return on EquityProfitability
31.9%10/10

Every $100 of equity generates 32 in profit

EPS GrowthGrowth
213.9%10/10

Earnings expanding 213.9% YoY

Market CapQuality
$106.65B9/10

Large-cap with strong market position

Debt/EquityHealth
0.289/10

Conservative balance sheet, low leverage

Areas to Watch

NCMI3 concerns · Avg: 2.0/10
Market CapQuality
$331.14M3/10

Smaller company, higher risk/reward

Return on EquityProfitability
-2.7%2/10

ROE of -2.7% — below average capital efficiency

Profit MarginProfitability
-4.4%1/10

Currently unprofitable

SPOT3 concerns · Avg: 3.3/10
PEG RatioValuation
2.174/10

Expensive relative to growth rate

Price/BookValuation
9.3x4/10

Trading at 9.3x book value

P/E RatioValuation
42.2x2/10

Premium valuation, high expectations priced in

Comparative Analysis Report

WallStSmart Research

Bull Case : NCMI

The strongest argument for NCMI centers on Price/Book, Debt/Equity, PEG Ratio. PEG of 0.70 suggests the stock is reasonably priced for its growth.

Bull Case : SPOT

The strongest argument for SPOT centers on Return on Equity, EPS Growth, Market Cap.

Bear Case : NCMI

The primary concerns for NCMI are Market Cap, Return on Equity, Profit Margin.

Bear Case : SPOT

The primary concerns for SPOT are PEG Ratio, Price/Book, P/E Ratio. A P/E of 42.2x leaves little room for execution misses.

Key Dynamics to Monitor

NCMI profiles as a turnaround stock while SPOT is a value play — different risk/reward profiles.

SPOT carries more volatility with a beta of 1.70 — expect wider price swings.

NCMI is growing revenue faster at 8.0% — sustainability is the question.

SPOT generates stronger free cash flow (834M), providing more financial flexibility.

Bottom Line

NCMI scores higher overall (64/100 vs 60/100). Both earn "Buy" and "Buy" ratings respectively — the choice depends on your investment horizon and risk tolerance.

This analysis is generated from publicly available financial data. Not financial advice.

National CineMedia Inc

COMMUNICATION SERVICES · ADVERTISING AGENCIES · USA

National CineMedia, Inc., through its subsidiary, National CineMedia, LLC, operates a theatrical advertising network in North America. The company is headquartered in Centennial, Colorado.

Spotify Technology SA

COMMUNICATION SERVICES · INTERNET CONTENT & INFORMATION · USA

Spotify Technology SA, provides audio streaming services worldwide. The company is headquartered in Luxembourg, Luxembourg.

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