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Radnet, Inc. (RDNT) stock

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NASDAQ: RDNT Nasdaq Health Care Services Next results ~November 5, 2026

C+ Fundamentals grade

Radnet, Inc. is a US-listed company in the health care services industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

Under review: after-tax interest is 138% of the cash flow left for shareholders; our flat discount rate doesn't yet reflect debt this heavy.

Price vs value

Under review: after-tax interest is 138% of the cash flow left for shareholders; our flat discount rate doesn't yet reflect debt this heavy. We'll show the comparison once resolved.

Radnet, Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 5 selling0 purchases and 15 sales by directors and officers, last 12 monthsInsider trades
  • Funds163 adding, 164 cuttingOf 52 active managers that changed their stake, 17 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Radnet files

Where Radnet stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $2.27bn, up 18.9% on a year earlier, faster than the 14.7% growth a quarter earlier. Free-cash-flow margin held at 3.2%. Against its peers on growth, profitability, cash generation and balance sheet, it grades C+. It passes 3 of our 7 financial-health checks.

Our model value for Radnet is under review, so past values are not shown until it is resolved.

Source: 10-Q filed August 10, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 5, 2026 (estimated)

Radnet, Inc.'s trailing-twelve-month revenue grew 18.9% year on year, with a free-cash-flow margin of 3.2%. Where it stands out: change in growth rate of +4.2pp ranks 8 of 41 health care services companies we cover.

Our discounted-cash-flow model values the business at ~$32 per share in the base case (~$22–$46 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow fell 4.8% while net income fell 41.5%: a 37pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 18.9% over the last 12 months, against a median of 7.3% for health care services companies we cover.
  • Growth speeding up. The growth rate is 4.2 points higher than a quarter earlier.

Things to watch

  • Results due soon. Results are expected around 9 November; the share price can move sharply on the day.
  • Insiders selling. 5 insiders sold $12M of stock over the past 365 days and none bought (0% under pre-set trading plans).
  • Heavily shorted. 14.1% of the shares available to trade are sold short (12.0 days of average volume to cover).
  • Missing expectations. Earnings per share fell short of the consensus estimate in 2 of the last four quarters.
  • Estimates being cut. Analysts' consensus for next year's earnings per share has fallen 6.0% over 90 days.

Latest results: FY2026 Q2

Filed August 10, 2026
Earnings per share
$0.29 against an average estimate of $0.20: beat by 44.0%
Revenue
$623m, up 25.0% on a year earlier
Share reaction
+5.5% in the first session after the results on August 10, 2026, against -0.3% for the S&P 500
Next report
November 5, 2026; average EPS estimate $0.22

Radnet's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-0.5%
  • 1 week+4.4%
  • 1 month+4.5%
  • This year+2.5%
  • 1 year-3.8%
  • 5 years+127.1%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$2.3B
Operating margin
3.1%
Net margin
-0.9%
EPS (TTM, diluted)
$-0.28

Growth

Revenue growth
+18.9%
Change in growth rate
+4.2 pts
Share count change
+0.1%

Cash

Free cash flow (TTM)
$72.4M
FCF margin
3.2%
Stock pay % of revenue
2.6%

Earnings

Last results
August 10, 2026
Next results (est.)
November 9, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Agreement
  2. Announcement
  3. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Radnet, Inc. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: held for review: after-tax interest is 138% of the cash flow left for shareholders; our flat discount rate doesn't yet reflect debt this heavy.

The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.

Valuation models

We value Radnet, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 8.9%: the 10-year Treasury yield (4.9%) plus a beta of 0.88 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. — Does not apply: This model is withheld pending its input or assumption review.
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$16 ~$13–$24 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$2.9 ~$1.6–$5.2 Left out: out of range vs price (0.04x)
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: This model is withheld pending its input or assumption review.
Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. — Combined value withheld. Review the individual models and their assumptions.

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Radnet, Inc. with Health Care Services in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$6.18$6.45$10.10$10.17$20.30$19.57$30.11$18.83$34.77$69.84$71.35$73.10
Market value$279m$301m$479m$495m$1.0bn$996m$1.6bn$1.1bn$2.2bn$5.2bn$5.4bn$5.6bn
+ Net debt (− = net cash)$119000$654m$604m$699m$706m$640m$633m$736m$505m$301m$374m$673m
Enterprise value$279m$955m$1.1bn$1.2bn$1.7bn$1.6bn$2.2bn$1.8bn$2.8bn$5.5bn$5.7bn$6.3bn
Multiples
Price / sales 0.3x0.3x0.5x0.5x0.9x0.9x1.2x0.8x1.4x2.9x2.6x2.5x
Price / earnings 36.2x41.6xn/m15.4x69.1x—65.1x101.3xn/mn/m——
Price / free cash flow 11.6x9.3x5.9x11.1x33.8x7.1x138.5x40.0x50.8x116.2x62.7x77.4x
EV / EBITDA 2.8x9.1x9.3x11.5x11.5x13.4x12.5x11.2x12.1x22.8x26.8x25.9x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

26 /100

Weak moat

How hard Radnet's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Net income has been a median -0.1% of total assets over 10 years.

  • Pricing power 0 / 20

    Gross margin has been a median 13.4%, moving by 40.6 percentage points (standard deviation) across 9 years.

  • Durability 10 / 20

    Operating margin has been a median 4.2%; its worst year was 3.0%.

  • Cash conversion 11 / 20

    Free cash flow was positive in 9 of 10 years, at a median 3.7% of revenue.

  • Discipline 10 / 20

    The diluted share count rose 47.0% over five years; stock-based pay has been a median 1.6% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (31 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 5, 2026, after the close. Analysts expect revenue of $639m and EPS of $0.22 (range $0.16 to $0.29) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $0.51 +32% $2.5bn +23%
Next $0.89 +72% $2.8bn +10%

Next year's EPS estimate has moved −6.0% in 90 days, across 6 analysts.

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $0.20 $0.29 +44.0%
Mar 2026 −$0.19 −$0.28 −46.1%
Dec 2025 $0.20 $0.23 +12.6%
Sept 2025 $0.23 $0.20 −11.8%

Adjusted EPS as companies report it, against the average analyst estimate.

Analyst recommendations

8 analysts, Oct 2026
Buy8100%
Hold00%
Sell00%

Monthly trend

  1. Oct 2026268
  2. Sep 2026268
  3. Aug 2026268
  4. Jul 2026268

Counts of recommendations published by analysts covering Radnet, Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
14.1%
of tradable shares
Days to cover
11.99
at average volume
Short interest, 1 month
−6%
to September 30, 2026
Held by institutions
—
of shares
Held by insiders
10.0%
of shares
Employees
11,000
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months −3.8%

$75.99 on October 31, 2025 to $73.10

ThenNowEffect
Revenue (last 12 months) $1.9bn $2.3bn +18.9%
P/S multiple 3.0x 2.5x −19.0%
Share count 77m 77m −0.1%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

Last 3 years +153.5%

$28.84 on November 3, 2023 to $73.10

ThenNowEffect
Revenue (last 12 months) $1.5bn $2.3bn +48.5%
P/S multiple 1.1x 2.5x +123.2%
Share count 59m 77m −23.5%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
RDNT+54%−38%+85%+101%+2%+3%
Industry peers (median)−3%−25%+6%−6%−9%+15%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
RDNT67%33%83%75%42%46%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
RDNT−31%−50%−27%−19%−37%−34%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 3, 2015: 73% from February 21, 2020 to March 18, 2020. Getting back needed a 276% gain, reached on March 9, 2021, 356 days after the low.

Price behaviour

52-week range
$51.87 – $84.48
From 52-week high
−13.5%
vs 50-day average
+0.8%
vs 200-day average
+12.2%
Volatility (1 year)
42%
Beta vs S&P 500
1.01

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
8 up, 4 down
typical move ±5.1%
After a week
6 up, 6 down
typical move ±8.2%
After a month
5 up, 7 down
typical move ±9.9%
Results releasedNext dayS&P 500 next day5 days21 days
August 10, 2026 +5.5% −0.3% +4.9% −2.1%
May 11, 2026 −3.8% +0.1% −6.9% −0.1%
March 2, 2026 +4.0% −0.8% −10.7% −19.9%
November 10, 2025 +0.2% +1.8% −1.6% −1.5%
August 11, 2025 +19.2% +0.9% +24.2% +33.7%
May 12, 2025 +8.6% +4.0% +8.8% +3.8%
March 5, 2025 −0.5% −0.7% −8.9% −4.5%
November 12, 2024 −4.4% −0.3% −7.6% −9.2%
August 9, 2024 −0.1% +0.5% +4.4% −2.2%
May 13, 2024 +2.7% +0.5% +5.9% +11.8%
March 5, 2024 +3.5% −0.5% −1.8% +2.3%
November 13, 2023 +8.3% +1.8% +12.5% +27.5%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Radnet, Inc. in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Radnet, Inc.
$1.4B $1.6B $1.8B $2B $2.2B $2.4B FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $1.6B Revenue (TTM), FY23 Q4: $1.6B Revenue (TTM), FY24 Q1: $1.7B Revenue (TTM), FY24 Q2: $1.7B Revenue (TTM), FY24 Q3: $1.8B Revenue (TTM), FY24 Q4: $1.8B Revenue (TTM), FY25 Q1: $1.9B Revenue (TTM), FY25 Q2: $1.9B Revenue (TTM), FY25 Q3: $2B Revenue (TTM), FY25 Q4: $2B Revenue (TTM), FY26 Q1: $2.1B Revenue (TTM), FY26 Q2: $2.3B $2.3B

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $1.6B
FY23 Q4 $1.6B
FY24 Q1 $1.7B
FY24 Q2 $1.7B
FY24 Q3 $1.8B
FY24 Q4 $1.8B
FY25 Q1 $1.9B
FY25 Q2 $1.9B
FY25 Q3 $2B
FY25 Q4 $2B
FY26 Q1 $2.1B
FY26 Q2 $2.3B
Revenue growth, TTM YoY Radnet, Inc.
10% 12% 14% 16% 18% 20% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: 14.6% Revenue growth, TTM YoY, FY23 Q4: 13.0% Revenue growth, TTM YoY, FY24 Q1: 12.1% Revenue growth, TTM YoY, FY24 Q2: 12.1% Revenue growth, TTM YoY, FY24 Q3: 12.2% Revenue growth, TTM YoY, FY24 Q4: 13.2% Revenue growth, TTM YoY, FY25 Q1: 12.8% Revenue growth, TTM YoY, FY25 Q2: 11.3% Revenue growth, TTM YoY, FY25 Q3: 11.1% Revenue growth, TTM YoY, FY25 Q4: 11.5% Revenue growth, TTM YoY, FY26 Q1: 14.7% Revenue growth, TTM YoY, FY26 Q2: 18.9% 18.9%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 14.6%
FY23 Q4 13.0%
FY24 Q1 12.1%
FY24 Q2 12.1%
FY24 Q3 12.2%
FY24 Q4 13.2%
FY25 Q1 12.8%
FY25 Q2 11.3%
FY25 Q3 11.1%
FY25 Q4 11.5%
FY26 Q1 14.7%
FY26 Q2 18.9%
Operating margin (TTM) Radnet, Inc.
2% 3% 4% 5% 6% 7% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: 6.1% Operating margin (TTM), FY23 Q4: 6.1% Operating margin (TTM), FY24 Q1: 6.2% Operating margin (TTM), FY24 Q2: 6.6% Operating margin (TTM), FY24 Q3: 5.9% Operating margin (TTM), FY24 Q4: 5.7% Operating margin (TTM), FY25 Q1: 3.7% Operating margin (TTM), FY25 Q2: 3.4% Operating margin (TTM), FY25 Q3: 3.0% Operating margin (TTM), FY25 Q4: 3.0% Operating margin (TTM), FY26 Q1: 2.9% Operating margin (TTM), FY26 Q2: 3.1% 3.1%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 6.1%
FY23 Q4 6.1%
FY24 Q1 6.2%
FY24 Q2 6.6%
FY24 Q3 5.9%
FY24 Q4 5.7%
FY25 Q1 3.7%
FY25 Q2 3.4%
FY25 Q3 3.0%
FY25 Q4 3.0%
FY26 Q1 2.9%
FY26 Q2 3.1%
FCF margin (TTM) Radnet, Inc.
0% 2% 4% 6% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: 1.8% FCF margin (TTM), FY23 Q4: 2.7% FCF margin (TTM), FY24 Q1: 1.6% FCF margin (TTM), FY24 Q2: 4.0% FCF margin (TTM), FY24 Q3: 5.3% FCF margin (TTM), FY24 Q4: 2.5% FCF margin (TTM), FY25 Q1: 4.2% FCF margin (TTM), FY25 Q2: 4.0% FCF margin (TTM), FY25 Q3: 2.6% FCF margin (TTM), FY25 Q4: 4.2% FCF margin (TTM), FY26 Q1: 4.8% FCF margin (TTM), FY26 Q2: 3.2% 3.2%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 1.8%
FY23 Q4 2.7%
FY24 Q1 1.6%
FY24 Q2 4.0%
FY24 Q3 5.3%
FY24 Q4 2.5%
FY25 Q1 4.2%
FY25 Q2 4.0%
FY25 Q3 2.6%
FY25 Q4 4.2%
FY26 Q1 4.8%
FY26 Q2 3.2%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-K/A, 10-Q, 10-Q/A. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2009 Dec 2009 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 528 552 585 647 703 718 810 885 922 975 1,154 1,072 1,315 1,430 1,617 1,830 2,040 2,269
Gross profit 130 521 554 609 665 681 101 109 120 108 154 — — — — — — —
EBITDA 96 13 12 17 16 15 100 105 117 104 150 122 179 162 227 242 214 242
Operating income 42 9 8 13 12 11 39 38 50 31 70 36 83 46 99 105 62 71
Net income −2 8 8 12 12 11 8 7 0 32 15 −15 25 11 3 3 −19 −21
Diluted EPS −$0.06 −$0.35 $0.19 $1.52 $0.05 $0.03 $0.17 $0.15 $0.00 $0.66 $0.29 −$0.29 $0.46 $0.17 $0.05 $0.04 −$0.25 −$0.28
Growth (year on year)
Revenue — +4.6% +6.0% +10.6% +8.6% +2.1% +12.8% +9.3% +4.3% +5.7% +18.4% −7.1% +22.7% +8.7% +13.0% +13.2% +11.5% +18.9%
EBITDA — −86.7% −4.3% +40.8% −5.1% −5.6% +545.9% +5.4% +11.2% −11.2% +45.0% −18.6% +46.4% −9.5% +40.0% +6.8% −11.7% +16.5%
Operating income — −78.4% — — — — — −1.6% +30.1% −38.3% +126.2% −48.9% +131.3% −43.8% +112.9% +6.0% −40.7% +8.5%
Net income — — — — — — — — — — −54.2% — — — — — — —
Diluted EPS — — — — — — — — — — −56.1% — — — — — — —
Margins
Gross margin 24.6% 94.3% 94.6% 94.1% 94.6% 94.9% 12.5% 12.3% 13.0% 11.0% 13.4% — — — — — — —
EBITDA margin 18.2% 2.3% 2.1% 2.7% 2.3% 2.2% 12.3% 11.9% 12.7% 10.6% 13.0% 11.4% 13.6% 11.3% 14.0% 13.3% 10.5% 10.7%
Operating margin 8.0% 1.6% 1.4% 2.0% 1.7% 1.5% 4.8% 4.4% 5.4% 3.2% 6.1% 3.3% 6.3% 3.2% 6.1% 5.7% 3.0% 3.1%
Net margin −0.4% 1.5% 1.4% 1.9% 1.6% 1.5% 1.0% 0.8% 0.0% 3.3% 1.3% −1.4% 1.9% 0.7% 0.2% 0.2% −0.9% −0.9%
Free-cash-flow margin 8.7% 2.9% 9.4% 11.5% 9.2% 1.8% 3.0% 3.7% 8.8% 4.6% 2.6% 13.0% 0.9% 1.9% 2.7% 2.5% 4.2% 3.2%
Cash flow
Cash from operations 77 18 58 75 66 14 67 92 142 117 104 234 149 146 221 233 299 310
Capital spending 31 2 3 1 2 1 43 59 61 72 74 94 138 119 177 188 213 238
Free cash flow 46 16 55 74 64 13 24 32 81 45 30 140 12 27 44 45 86 72
Stock-based pay 4 4 3 3 3 3 8 6 7 8 9 12 25 24 27 30 55 59
Free cash flow after stock pay 42 12 52 71 62 11 16 27 74 37 21 127 −14 3 17 15 31 13
Balance sheet
Cash 1 2 2 2 0 0 0 21 51 10 40 102 135 128 343 740 767 726
Total debt 0 490 5 10 7 26 1 675 655 709 746 742 768 864 848 1,041 1,141 1,399
Net debt (negative = net cash) −1 488 3 8 7 25 0 654 604 699 706 640 633 736 505 301 374 673
Diluted shares 36m 37m 39m 39m 40m 43m 45m 47m 47m 49m 50m 51m 53m 57m 65m 75m 75m 77m

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

3 of 7 checks passed · June 30, 2026
What it owns · $4.2bn
Short-term assets $1.0bnLonger-term assets $3.2bn
What it owes, and who funded it · $3.9bn
Short-term liabilities $698mLonger-term liabilities $2.1bnShareholders' equity $1.1bn
  • Short-term assets cover short-term liabilities $1.0bn of assets due within a year against $698m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $1.0bn short-term assets against $2.1bn of longer-dated liabilities.
  • More cash than debt $726m of cash against $1.3bn of debt.
  • Debt below 40% of shareholders' equity Debt is 122% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 325% to 122% over five years.
  • A year's operating cash flow covers at least 20% of debt $310m of operating cash flow against $1.3bn of debt.
  • Operating profit covers interest at least five times over Operating income of $71m against $71m of interest.

From Radnet, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Diluted share count
+0.1%
year over year
Days sales outstanding
39 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in health care services
Last 12 months unless stated RDNT PRVA EVH HIMS AVAH CHE Median
Revenue, last 12 months $2.3bn $2.4bn $2.1bn $2.6bn $2.6bn $2.7bn $1.2bn
Revenue growth, last 12 months 18.9% 24.1% −4.5% 28.0% 19.5% 5.2% 7.3%
Revenue growth, 3-year average 14.1% 16.1% 8.7% 53.7% 12.4% 6.1% 11.3%
Revenue growth, latest quarter 25.0% 21.4% 46.9% 38.2% 13.7% 10.6% 8.5%
Gross margin 13.4% — 17.2% 68.4% 32.3% 33.5% 27.9%
Operating margin 3.1% 1.9% −20.4% −6.0% 10.5% 13.9% 2.3%
Operating margin, 3-year average 4.4% 1.2% −8.0% 0.5% 7.0% 14.4% 2.3%
Net margin −0.9% 1.2% −24.1% −5.5% 10.6% 10.6% 1.2%
Cash from operations / revenue 13.7% 5.6% 2.6% 10.2% 6.5% 13.6% 6.1%
Free-cash-flow margin 3.2% 5.6% −2.7% 2.4% 6.0% 11.1% 5.1%
Free-cash-flow margin, 3-year average 3.7% 5.2% −2.3% — 3.2% 11.6% 3.6%
Stock pay / revenue 2.6% 3.2% 2.0% 6.0% 0.7% — 1.1%
Change in share count 0.1% 2.7% −2.4% 0.3% 11.4% −8.3% 0.3%

Median of all 41 companies we cover in health care services. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

41 health care services companies
Measure Company Peer median Rank
Revenue growth Growth 18.9% 7.3% 13 of 41
Change in growth rate Growth +4.2pp +1.1pp 8 of 41
Operating margin Profitability 3.1% 2.6% 19 of 40
Net margin Profitability -0.9% 1.2% 24 of 41
Free-cash-flow margin Cash generation 3.2% 5.1% 22 of 40
Stock pay as % of revenue Cash generation 2.6% 0.9% 25 of 35
Long-term debt as % of assets Balance sheet 30.8% 27.7% 18 of 31
Change in share count Balance sheet 0.1% 0.4% 16 of 39
Days sales outstanding Balance sheet 39 days 39 days 15 of 31

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Segments
Line of business Revenue Share YoY
Imaging Centers $2B 97.5% ▲ 10.9%
Digital Health $52M 2.5% ▲ 39.3%
Products and services
Line of business Revenue Share YoY
Health Care Patient Service $1.9B 93.9% ▲ 13.1%
Commercial Insurance1 $1.1B 59.0% ▲ 11.0%
Medicare1 $477M 24.9% ▲ 16.3%
Capitation Arrangements $126M 6.6% ▼ 8.1%
Other Payors $119M 6.2% ▲ 13.1%
Health Care Other $65M 3.4% ▲ 39.2%
Medicaid1 $51.7M 2.5% ▲ 15.6%
Workers Compensation Personal Injury1 $44.7M 2.2% ▲ 2.4%
Health Care Management Service $27.5M 1.3% ▲ 11.5%
Geography
Region Revenue Share YoY
United States $2B 98.3% ▲ 11.3%
Outside the US $34M 1.7% ▲ 24.7%

From Radnet, Inc.'s 10-K filed March 2, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$5B
Institutions reporting
326
Shares held vs prior quarter
▲ 4.3%
Positions opened / closed
35 / 50

Top buyers and sellers, Q2 2026: 163 institutions bought and 164 sold ; the biggest buyer was Blackrock, Inc (+922K shares) and the biggest seller Van Berkom & Associates Inc (−864K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $676M 11.0M 13.4% ▲ 9.2%
RTW Investments, LP $299M 4.8M 5.9% ▲ 13.1%
Price T Rowe Associates Inc $278M 4.5M 5.5% ▲ 8.3%
Vanguard Portfolio Management LLC $251M 4.1M 5.0% ▲ 4.3%
Vanguard Capital Management LLC $197M 3.2M 3.9% ▲ 2.7%
Beck Mack & Oliver LLC $195M 3.2M 3.9% ▼ 0.1%
State Street Corp $175M 2.8M 3.5% ▲ 7.2%
Geode Capital Management, LLC $115M 1.9M 2.3% ▲ 7.8%
Invesco Ltd. $101M 1.6M 2.0% ▲ 0.5%
American Century Companies Inc $99.8M 1.6M 2.0% ▲ 79.4%
Clearbridge Investments, LLC $95.4M 1.5M 1.9% ▲ 21.0%
Dimensional Fund Advisors LP $91.9M 1.5M 1.8% ▲ 8.1%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Radnet, Inc.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $12.3M 15 trades by 5 insiders · 0% under pre-set plans
Net ▼ $12.3M net selling
Insider Date Trade Shares Price Value
Swartz David L Director June 18, 2026 Sell 2,699 $53.89 $145,449
Wesdorp Cornelis Pres & CEO, Digital Health June 16, 2026 Sell 4,750 $58.11 $276,022
Forthuber Stephen M Pres & CEO-Eastern Operations June 15, 2026 Sell 24,214 $57.79 $1.4M
Forthuber Stephen M Pres & CEO-Eastern Operations June 15, 2026 Sell 19,853 $58.61 $1.2M
Sorensen Alma Gregory Chief Strategy Officer March 19, 2026 Sell 9,554 $61.84 $590,819
Sorensen Alma Gregory Chief Strategy Officer March 19, 2026 Sell 100 $63.59 $6,359
Sorensen Alma Gregory Chief Strategy Officer March 19, 2026 Sell 5,346 $62.82 $335,836
Sorensen Alma Gregory Chief Strategy Officer March 18, 2026 Sell 14,200 $62.12 $882,104
Sorensen Alma Gregory Chief Strategy Officer March 18, 2026 Sell 800 $62.72 $50,176
Forthuber Stephen M Pres & COO-Eastern Operations December 5, 2025 Sell 1,700 $79.77 $135,609
Forthuber Stephen M Pres & COO-Eastern Operations December 5, 2025 Sell 11,598 $79.06 $916,938
Forthuber Stephen M Pres & COO-Eastern Operations December 5, 2025 Sell 31,790 $77.99 $2.5M

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around November 9, 2026 estimated from the company's past filing pattern, not announced

  • August 10, 2026
  • May 11, 2026
  • March 2, 2026
  • November 10, 2025
  • August 11, 2025
  • May 12, 2025

Recent SEC filings

Data status

When each part of this page on Radnet, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Radnet, Inc. in brief

What does Radnet, Inc. do?
Radnet, Inc. is a US-listed company in the health care services industry. Its financial year ends in December.
What is Radnet, Inc.'s stock ticker?
Radnet, Inc. trades under the ticker RDNT on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Radnet, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Radnet, Inc. reported revenue of $2.3B, 18.9% higher than a year earlier, according to its SEC filings.
What is Radnet, Inc.'s free cash flow?
Radnet, Inc.'s free-cash-flow margin is 3.2% of revenue over the trailing twelve months, ranking 22 of the 40 health care services companies we cover.
Who are Radnet, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., RTW Investments, LP and Price T Rowe Associates Inc. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Radnet, Inc.'s market cap?
On November 2, 2026, Radnet, Inc.'s market capitalisation was about $5.6B and net debt of $673M. Market figures come from third-party market data and may be delayed.
How much debt does Radnet, Inc. have?
Radnet, Inc.'s debt-to-equity ratio is 121.6%, from its latest balance sheet (324.8% five years earlier). The financial health section below sets out its other solvency checks.
Who are Radnet, Inc.'s competitors?
In our Health Care Services peer group, the companies closest to Radnet, Inc. are Privia Health Group, Inc., Evolent Health, Inc., Hims & Hers Health, Inc., Aveanna Healthcare Holdings, Inc. and Chemed Corp. The side-by-side comparison below sets their revenue, margins and growth against Radnet, Inc.'s.
Are insiders buying or selling Radnet, Inc. stock?
Over the last 12 months, Radnet, Inc.'s directors and officers reported 0 open-market purchases and 15 sales on Form 4. The insider trading page charts every trade.
When is Radnet, Inc.'s next earnings date?
Around November 5, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Radnet, Inc. announces its own schedule.