CNKHIGH SIGNALFINANCIAL10-K

Cinemark shows mixed financial performance with substantially improved operating losses but declining net income, while debt increased significantly to $2.5B and stockholders' equity fell sharply.

The substantial improvement in operating losses suggests better operational efficiency, but the decline in net income indicates significant non-operating headwinds, likely related to the 40% debt increase. The sharp reduction in stockholders' equity combined with higher debt levels creates a more leveraged capital structure that warrants close monitoring.

Comparing 2026-02-18 vs 2025-02-19View on EDGAR →
FINANCIAL ANALYSIS

Cinemark's financial picture presents contrasting trends with operating performance improving meaningfully while bottom-line results deteriorated substantially. The company increased its debt burden by over 40% to $2.5B while stockholders' equity declined by 59% to $323M, creating a significantly more leveraged balance sheet. The combination of reduced equity cushion and higher debt load, despite operational improvements, signals a fundamental shift in the company's financial risk profile.

FINANCIAL STATEMENT CHANGES
Operating Income
P&L
+66.6%
-$755.0M-$252.5M

Operating leverage kicking in — revenue growth outpacing cost growth, a hallmark of scaling businesses.

Stockholders Equity
Balance Sheet
-59%
$788.0M$322.9M

Equity declined sharply — large losses, buybacks, or write-downs reducing book value significantly.

Net Income
P&L
-55.4%
$309.7M$138.2M

Net income declined 55.4% — review whether driven by operations, interest costs, or non-recurring items.

Total Debt
Balance Sheet
+40.3%
$1.8B$2.5B

Debt increased 40.3% — substantial leverage increase; assess whether deployed for growth or covering losses.

Current Liabilities
Balance Sheet
+26.8%
$606.4M$769.1M

Current liabilities rose 26.8% — increased short-term obligations, watch current ratio.

Inventory
Balance Sheet
+22.7%
$12.6M$15.5M

Inventory built 22.7% — monitor whether demand supports this build or if write-downs may follow.

LANGUAGE CHANGES
NEW — 2026-02-18
PRIOR — 2025-02-19
ADDED
3900 Dallas Parkway Plano , Texas 75093 ( 972 ) 665-1000 Delaware 20-5490327 33-47040 Cinemark USA, Inc.
As of February 13, 2026, 115,526,237 shares of common stock of Cinemark Holdings, Inc.
As of February 13, 2026 , 1,500 shares of Class A common stock, $0.01 par value per share, and 182,648 shares of Class B common stock, no par value per share, of Cinemark USA, Inc.
Business We are a leader and one of the most geographically diverse operators in the theatrical exhibition industry.
As of December 31, 2025, we operated 496 theaters and 5,637 screens in the United States, or U.S.
+7 more — sign up free →
REMOVED
3900 Dallas Parkway Plano , Texas 75093 (972) 665-1000 Delaware 20-5490327 33-47040 Cinemark USA, Inc.
As of February 12, 2025 , 122,303,972 shares of common stock of Cinemark Holdings, Inc.
As of February 12, 2025 , 1,500 shares of Class A common stock, $0.01 par value per share, and 182,648 shares of Class B common stock, no par value per share, of Cinemark USA, Inc.
Business We are a leader and one of the most geographically diverse operators in the motion picture exhibition industry.
As of December 31, 2024, we operated 497 theaters and 5,653 screens in the United States, or U.S.
+7 more — sign up free →
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