RDNT · Radnet, Inc. - Financials

Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.

Price · RDNT

1Y 3Y 5Y Max

Annual Quarterly

Income Statement

Line item	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Revenue	$2.04B	$1.83B	$1.62B	$1.43B	$1.32B	$1.07B
Cost of Revenue	-	-	-	-	-	-
Gross Profit	-	-	-	-	-	-
R&D	-	-	-	-	-	-
SG&A	-	-	-	-	-	-
Total Operating Expenses	$1.98B	$1.73B	$1.52B	$1.38B	$1.24B	$1.06B
D&A	$152.13M	$137.84M	$128.39M	$115.88M	$96.69M	$86.80M
Operating Income	$61.99M	$104.62M	$98.70M	$46.36M	$82.55M	$35.68M
Interest Expense	$69.91M	$79.85M	$64.48M	$50.84M	$48.83M	$45.88M
Income Tax	$14.86M	$6.03M	$8.47M	$9.36M	$14.56M	$895.0K
Net Income	($18.65M)	$2.79M	$3.04M	$10.65M	$24.73M	($14.84M)
EPS - Basic	($0.25)	$0.04	$0.05	$0.19	$0.47	($0.29)
EPS - Diluted	($0.25)	$0.04	$0.05	$0.17	$0.46	($0.29)

Balance Sheet

Line item	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Cash & Equivalents	$767.22M	$740.02M	$342.57M	$127.83M	$134.61M	$102.02M
Accounts Receivable	$200.32M	$185.82M	$163.71M	$166.36M	$135.06M	$129.59M
Inventory	-	-	-	-	-	-
Accounts Payable	$153.23M	$96.45M	$122.89M	$102.68M	$86.46M	$70.07M
Current Assets	$1.03B	$1.02B	$579.28M	$367.18M	$324.26M	$270.42M
Total Assets	$3.76B	$3.29B	$2.69B	$2.43B	$2.06B	$1.79B
Current Liabilities	$586.76M	$479.71M	$437.45M	$466.72M	$374.78M	$398.11M
Long-term Debt	$1.06B	$991.57M	$812.07M	$839.34M	$743.50M	-
Total Liabilities	$2.40B	$2.15B	$1.88B	$1.94B	$1.71B	$1.53B
Stockholders' Equity	$1.09B	$902.31M	$630.70M	$333.00M	$228.90M	$165.74M
Retained Earnings	($95.44M)	($76.78M)	($79.58M)	($82.62M)	($93.27M)	($118.00M)

Cash Flow

Line item	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Operating Cash Flow	$298.82M	$233.02M	$220.86M	$146.42M	$149.49M	$233.76M
Investing Cash Flow	($343.87M)	($233.07M)	($201.47M)	($246.95M)	($221.51M)	($126.24M)
Financing Cash Flow	$72.21M	$397.95M	$195.63M	$93.65M	$104.67M	($45.56M)
CapEx	-	-	-	-	-	-
Free Cash Flow	-	-	-	-	-	-

Ratios

Metric	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Profitability
Gross margin	-	-	-	-	-	-
Operating margin	3.0%	5.7%	6.1%	3.2%	6.3%	3.3%
EBITDA margin	10.5%	13.3%	14.0%	11.3%	13.6%	11.4%
Net margin	-0.9%	0.2%	0.2%	0.7%	1.9%	-1.4%
Free cash flow margin	-	-	-	-	-	-
FCF / Net income	-	-	-	-	-	-
R&D / Revenue	-	-	-	-	-	-
SG&A / Revenue	-	-	-	-	-	-
Effective tax rate	-	68.3%	73.6%	46.8%	37.1%	-
Return on assets	-0.5%	0.1%	0.1%	0.4%	1.2%	-0.8%
Return on equity	-1.7%	0.3%	0.5%	3.2%	10.8%	-9.0%
Return on invested capital	2.3%	2.8%	3.4%	2.1%	5.3%	-
Liquidity
Current ratio	1.76	2.12	1.32	0.79	0.87	0.68
Quick ratio	1.76	2.12	1.32	0.79	0.87	0.68
Cash ratio	1.31	1.54	0.78	0.27	0.36	0.26
Leverage
Debt / Equity	0.98	1.10	1.29	2.52	3.25	-
Debt / Assets	0.28	0.30	0.30	0.34	0.36	-
Debt / EBITDA	4.97	4.09	3.58	5.17	4.15	-
Interest coverage	0.9x	1.3x	1.5x	0.9x	1.7x	0.8x
Equity multiplier	3.45	3.64	4.27	7.31	8.99	10.78
Liabilities / Assets	0.64	0.66	0.70	0.80	0.83	0.86
Efficiency
Asset turnover	0.54	0.56	0.60	0.59	0.64	0.60
Inventory turnover	-	-	-	-	-	-
Days sales outstanding	36d	37d	37d	42d	37d	44d
Days inventory outstanding	-	-	-	-	-	-
Days payable outstanding	-	-	-	-	-	-
Cash conversion cycle	-	-	-	-	-	-
Valuation
P / E	-	1746.0x	695.4x	110.8x	65.5x	-
P / B	4.9x	5.8x	3.6x	3.2x	7.0x	6.0x
P / S	2.6x	2.9x	1.4x	0.8x	1.2x	0.9x
EV / EBITDA	26.4x	22.6x	12.0x	11.0x	12.4x	7.3x
Growth
Revenue growth (YoY)	11.5%	13.2%	13.0%	8.7%	22.7%	-7.1%
Revenue CAGR (3y)	12.6%	11.6%	14.7%	7.4%	14.1%	5.1%
Revenue CAGR (5y)	13.7%	9.7%	12.8%	9.2%	8.3%	5.8%
Gross profit growth (YoY)	-	-	-	-	-	-
Operating income growth (YoY)	-40.7%	6.0%	112.9%	-43.8%	131.3%	-48.9%
Net income growth (YoY)	-	-8.2%	-71.4%	-56.9%	-	-
EPS growth (YoY)	-	-20.0%	-70.6%	-63.0%	-	-
EPS CAGR (3y)	-	-55.7%	-	-16.3%	-11.3%	-
EPS CAGR (5y)	-	-32.7%	-40.3%	-	25.1%	-
FCF growth (YoY)	-	-	-	-	-	-
FCF CAGR (5y)	-	-	-	-	-	-
Book value growth (YoY)	20.8%	43.1%	89.4%	45.5%	38.1%	9.3%

Sales by segment

From XBRL dimensional facts in the 10-K period ending 2025-12-31.

Business segments

$2.04B total

Imaging Centers$1.99B · 97.5%

Digital Health$52.02M · 2.5%

Product / service

$3.95B total

Health Care Patient Service$1.91B · 48.4%

Commercial Insurance1$1.13B · 28.6%

Medicare1$476.99M · 12.1%

Capitation Arrangements$125.54M · 3.2%

Other Payors$118.60M · 3.0%

Health Care Other$65.02M · 1.6%

Medicaid1$51.74M · 1.3%

Workers Compensation Personal Injury1$44.70M · 1.1%

Health Care Management Service$27.52M · 0.7%

Geographic

$2.04B total

US$2.01B · 98.3%

Non Us$33.97M · 1.7%

Stability scores

Altman Z′

FY 2025 · bankruptcy risk

0.85

Distress

Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.

Piotroski F-score

FY 2025 · 9-point quality

3/9

Weak

✗Net income positive
✓Operating cash flow positive
✗ROA improved YoY
✓Cash flow > net income
✗Long-term debt decreased
✗Current ratio improved
✓No share dilution
-Gross margin improved
✗Asset turnover improved

Peer comparison

Same SIC group: Services-Medical Laboratories

Company	Revenue (last FY)	Net margin	ROE
NTRA	$2.31B	-9.0%	-12.2%
GH	$982.02M	-42.4%	419.2%
LH	$13.95B	6.3%	10.2%
DGX	$11.04B	9.0%	13.8%
CSTL	$344.23M	-7.0%	-5.1%

Comparing RadNet against the 5 most active filers in the same SIC group.