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Side-by-side financial comparison of National CineMedia, Inc. (NCMI) and Latham Group, Inc. (SWIM). Click either name above to swap in a different company.
Latham Group, Inc. is the larger business by last-quarter revenue ($100.0M vs $63.4M, roughly 1.6× National CineMedia, Inc.). National CineMedia, Inc. runs the higher net margin — 2.5% vs -7.0%, a 9.5% gap on every dollar of revenue. On growth, Latham Group, Inc. posted the faster year-over-year revenue change (14.5% vs 1.6%). Latham Group, Inc. produced more free cash flow last quarter ($14.1M vs $-2.0M). Over the past eight quarters, Latham Group, Inc.'s revenue compounded faster (-4.9% CAGR vs -16.4%).
National CineMedia, Inc. (NCM) is an American cinema advertising company. NCM displays ads to U.S. consumers in movie theaters, online and through mobile technology. NCM presents cinema advertising across a digital in-theater network, consisting of theaters owned by AMC Theatres, Cinemark Theatres, Regal Cinemas and other regional theater circuits.
Latham & Watkins LLP is an American multinational law firm. Founded in 1934 in Los Angeles, California, it is known for its litigation, corporate, and regulatory law practices.
NCMI vs SWIM — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $63.4M | $100.0M |
| Net Profit | $1.6M | $-7.0M |
| Gross Margin | 95.0% | 28.0% |
| Operating Margin | -2.8% | -10.7% |
| Net Margin | 2.5% | -7.0% |
| Revenue YoY | 1.6% | 14.5% |
| Net Profit YoY | 144.4% | 76.0% |
| EPS (diluted) | $0.02 | $-0.06 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | — | $100.0M | ||
| Q3 25 | $63.4M | $161.9M | ||
| Q2 25 | $51.8M | $172.6M | ||
| Q1 25 | $34.9M | $111.4M | ||
| Q4 24 | $86.3M | $87.3M | ||
| Q3 24 | $62.4M | $150.5M | ||
| Q2 24 | $54.7M | $160.1M | ||
| Q1 24 | $37.4M | $110.6M |
| Q4 25 | — | $-7.0M | ||
| Q3 25 | $1.6M | $8.1M | ||
| Q2 25 | $-10.7M | $16.0M | ||
| Q1 25 | $-30.7M | $-6.0M | ||
| Q4 24 | $24.7M | $-29.2M | ||
| Q3 24 | $-3.6M | $5.9M | ||
| Q2 24 | $-8.7M | $13.3M | ||
| Q1 24 | $-34.7M | $-7.9M |
| Q4 25 | — | 28.0% | ||
| Q3 25 | 95.0% | 35.4% | ||
| Q2 25 | 93.8% | 37.1% | ||
| Q1 25 | 91.1% | 29.5% | ||
| Q4 24 | 96.4% | 24.6% | ||
| Q3 24 | 94.7% | 32.4% | ||
| Q2 24 | 93.2% | 33.1% | ||
| Q1 24 | 90.4% | 27.7% |
| Q4 25 | — | -10.7% | ||
| Q3 25 | -2.8% | 13.3% | ||
| Q2 25 | -23.2% | 14.3% | ||
| Q1 25 | -68.5% | -4.4% | ||
| Q4 24 | 23.2% | -14.9% | ||
| Q3 24 | -12.0% | 8.9% | ||
| Q2 24 | -17.0% | 12.5% | ||
| Q1 24 | -60.7% | -1.9% |
| Q4 25 | — | -7.0% | ||
| Q3 25 | 2.5% | 5.0% | ||
| Q2 25 | -20.7% | 9.3% | ||
| Q1 25 | -88.0% | -5.4% | ||
| Q4 24 | 28.6% | -33.4% | ||
| Q3 24 | -5.8% | 3.9% | ||
| Q2 24 | -15.9% | 8.3% | ||
| Q1 24 | -92.8% | -7.1% |
| Q4 25 | — | $-0.06 | ||
| Q3 25 | $0.02 | $0.07 | ||
| Q2 25 | $-0.11 | $0.13 | ||
| Q1 25 | $-0.32 | $-0.05 | ||
| Q4 24 | $0.26 | $-0.24 | ||
| Q3 24 | $-0.04 | $0.05 | ||
| Q2 24 | $-0.09 | $0.11 | ||
| Q1 24 | $-0.36 | $-0.07 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $29.9M | — |
| Total DebtLower is stronger | — | $279.8M |
| Stockholders' EquityBook value | $350.5M | $405.9M |
| Total Assets | $451.9M | $823.2M |
| Debt / EquityLower = less leverage | — | 0.69× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | — | ||
| Q3 25 | $29.9M | — | ||
| Q2 25 | $37.2M | — | ||
| Q1 25 | $59.8M | — | ||
| Q4 24 | $75.2M | — | ||
| Q3 24 | $49.5M | — | ||
| Q2 24 | $53.8M | — | ||
| Q1 24 | $57.1M | — |
| Q4 25 | — | $279.8M | ||
| Q3 25 | — | $281.1M | ||
| Q2 25 | — | $281.5M | ||
| Q1 25 | — | $306.9M | ||
| Q4 24 | — | $281.5M | ||
| Q3 24 | — | $282.8M | ||
| Q2 24 | — | $282.4M | ||
| Q1 24 | — | $282.8M |
| Q4 25 | — | $405.9M | ||
| Q3 25 | $350.5M | $408.4M | ||
| Q2 25 | $350.0M | $398.4M | ||
| Q1 25 | $370.8M | $381.1M | ||
| Q4 24 | $411.2M | $387.2M | ||
| Q3 24 | $385.5M | $416.6M | ||
| Q2 24 | $387.9M | $408.1M | ||
| Q1 24 | $402.3M | $391.8M |
| Q4 25 | — | $823.2M | ||
| Q3 25 | $451.9M | $844.4M | ||
| Q2 25 | $462.0M | $822.1M | ||
| Q1 25 | $503.8M | $824.6M | ||
| Q4 24 | $568.6M | $794.2M | ||
| Q3 24 | $526.1M | $853.4M | ||
| Q2 24 | $527.2M | $830.0M | ||
| Q1 24 | $538.6M | $808.6M |
| Q4 25 | — | 0.69× | ||
| Q3 25 | — | 0.69× | ||
| Q2 25 | — | 0.71× | ||
| Q1 25 | — | 0.81× | ||
| Q4 24 | — | 0.73× | ||
| Q3 24 | — | 0.68× | ||
| Q2 24 | — | 0.69× | ||
| Q1 24 | — | 0.72× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-1.0M | $23.3M |
| Free Cash FlowOCF − Capex | $-2.0M | $14.1M |
| FCF MarginFCF / Revenue | -3.2% | 14.1% |
| Capex IntensityCapex / Revenue | 1.6% | 9.2% |
| Cash ConversionOCF / Net Profit | -0.63× | — |
| TTM Free Cash FlowTrailing 4 quarters | $24.8M | $38.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $23.3M | ||
| Q3 25 | $-1.0M | $51.0M | ||
| Q2 25 | $-4.9M | $36.0M | ||
| Q1 25 | $6.0M | $-46.9M | ||
| Q4 24 | $30.5M | $6.2M | ||
| Q3 24 | $-2.0M | $37.2M | ||
| Q2 24 | $7.7M | $52.4M | ||
| Q1 24 | $24.1M | $-34.5M |
| Q4 25 | — | $14.1M | ||
| Q3 25 | $-2.0M | $45.2M | ||
| Q2 25 | $-6.6M | $29.1M | ||
| Q1 25 | $5.3M | $-50.3M | ||
| Q4 24 | $28.1M | $-98.0K | ||
| Q3 24 | $-2.6M | $33.2M | ||
| Q2 24 | $6.4M | $47.9M | ||
| Q1 24 | $22.6M | $-39.9M |
| Q4 25 | — | 14.1% | ||
| Q3 25 | -3.2% | 27.9% | ||
| Q2 25 | -12.7% | 16.8% | ||
| Q1 25 | 15.2% | -45.2% | ||
| Q4 24 | 32.6% | -0.1% | ||
| Q3 24 | -4.2% | 22.1% | ||
| Q2 24 | 11.7% | 29.9% | ||
| Q1 24 | 60.4% | -36.0% |
| Q4 25 | — | 9.2% | ||
| Q3 25 | 1.6% | 3.6% | ||
| Q2 25 | 3.3% | 4.0% | ||
| Q1 25 | 2.0% | 3.1% | ||
| Q4 24 | 2.8% | 7.2% | ||
| Q3 24 | 1.0% | 2.7% | ||
| Q2 24 | 2.4% | 2.8% | ||
| Q1 24 | 4.0% | 4.8% |
| Q4 25 | — | — | ||
| Q3 25 | -0.63× | 6.29× | ||
| Q2 25 | — | 2.25× | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.23× | — | ||
| Q3 24 | — | 6.32× | ||
| Q2 24 | — | 3.95× | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
NCMI
| National Advertising Revenue | $49.9M | 79% |
| Local Advertising Revenue | $9.6M | 15% |
| Founding Member Advertising Revenue From Beverage Concessionaire Agreements | $3.9M | 6% |
SWIM
| In Ground Swimming Pools | $50.2M | 50% |
| Covers | $37.0M | 37% |
| Liners | $12.7M | 13% |
