RadNet, Inc. RDNT

Healthcare SIC 8071 - Services-Medical Laboratories NAICS Health Care and Social Assistance › Ambulatory Health Care Services › Medical and Diagnostic Laboratories › Medical Laboratories derived Nasdaq

We are a leading national provider of diagnostic imaging services in the United States based on number of locations and annual imaging revenue. We have been in business since 1985. Our principal business segment is the provision of diagnostic imaging services. As of December 31, 2025, we operated, directly or indirectly through hospital and health system joint ventures, 418 imaging centers located in Arizona, California, Delaware, Florida, Maryland, Virginia, New Jersey, Texas and New York.

Our Imaging Centers segment provides physicians with capabilities to facilitate the diagnosis and treatment of diseases and disorders and may reduce unnecessary invasive procedures, often reducing the cost and amount of care for patients. Our services include magnetic resonance imaging ("MRI"), computed tomography ("CT"), positron emission tomography ("PET"), nuclear medicine, mammography, ultrasound, diagnostic radiology ("X-ray"), fluoroscopy and other related procedures. The vast majority of our centers offer multi-modality imaging services, a key point of differentiation from our competitors. Our multi-modality strategy diversifies revenue streams, reduces exposure to reimbursement changes and provides patients and referring physicians one location to serve the needs of multiple procedures. Integral to the imaging center business is our Digital Health operating segment, which sells computerized systems that distribute, display, store and retrieve digital images.

Last close 70.34 2026-10-23
Market cap $5.54B 2026-06-30 share count
52-week range 50.82 - 85.84

Valuation FY2025 figures against the last close

P/S2.7x
P/E—
P/FCF18.5x
EV/EBITDA27.4x
Dividend yield—
Diluted EPS-0.25

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $2.04B$1.83B$1.62B$1.43B$1.32B$1.07B$1.15B$975.1M$922.2M$884.5M
Cost of revenue ——————$999.7M$867.5M$802.4M$775.8M
Gross profit ——————$154.5M$107.6M$119.8M$108.7M
Total operating expenses $1.98B$1.73B$1.52B$1.38B$1.24B$1.06B$1.08B$944.3M$872.1M$846.1M
Operating income $62.0M$104.6M$98.7M$46.4M$82.6M$35.7M$69.9M$30.9M$50.0M$38.5M
Interest expense —————————$21.0K
Pre-tax income $31.9M$44.9M$38.8M$43.0M$58.9M-$854.0K$29.7M$38.5M$26.4M$12.4M
Income tax $14.9M$6.0M$8.5M$9.4M$14.6M$895.0K$6.2M$394.0K$24.3M$4.4M
Net income -$18.6M$2.8M$3.0M$10.7M$24.7M-$14.8M$14.8M$32.2M$53.0K$7.2M
EPS, basic -0.250.040.050.190.47-0.290.300.670.000.16
EPS, diluted -0.250.040.050.170.46-0.290.290.660.000.15
Shares, diluted (wtd. avg.) 75.2M74.8M64.7M57.3M53.4M50.9M50.2M48.7M47.4M46.7M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $767.2M$740.0M$342.6M$127.8M$134.6M$102.0M$40.2M$10.4M$51.3M$20.6M
Receivables $200.3M$185.8M$163.7M$166.4M$135.1M$129.6M$154.8M$148.9M$155.5M$164.2M
Total current assets $1.03B$1.02B$579.3M$367.2M$324.3M$270.4M$241.2M$208.7M$235.4M$217.9M
Property, plant and equipment $807.7M$694.8M$604.4M$566.0M$484.2M—$366.7M$345.7M$244.3M$247.7M
Goodwill $907.7M$710.7M$679.5M$677.7M$513.8M$472.9M$442.0M$418.1M$256.8M$239.6M
Other intangibles $148.5M$81.4M$90.6M$106.2M$56.6M$52.4M$43.0M$40.6M$40.4M$42.7M
Total assets $3.76B$3.29B$2.69B$2.43B$2.06B$1.79B$1.65B$1.11B$869.0M$849.5M
Accounts payable $153.2M$96.5M$122.9M$102.7M$86.5M$70.1M$64.3M$68.0M$28.5M$41.0M
Short-term debt $25.4M$24.7M$18.0M$12.4M$11.2M$39.8M——$34.1M$26.6M
Total current liabilities $586.8M$479.7M$437.5M$466.7M$374.8M$398.1M$327.4M$239.5M$191.6M$155.3M
Long-term debt $1.06B$991.6M$812.1M$839.3M$743.5M$612.9M——$575.0M$612.2M
Total liabilities $2.40B$2.15B$1.88B$1.94B$1.71B$1.53B$1.41B$909.1M$799.1M$797.4M
Retained earnings -$95.4M-$76.8M-$79.6M-$82.6M-$93.3M-$118.0M-$103.2M-$117.9M-$150.2M-$150.2M
Total equity $1.09B$902.3M$813.4M$491.5M$346.2M$258.3M$233.1M$200.3M$69.9M$52.1M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $298.8M$233.0M$220.9M$146.4M$149.5M$233.8M$104.3M$116.8M$142.2M$91.6M
Depreciation and amortisation $152.1M$137.8M$128.4M$115.9M$96.7M$86.8M$80.6M$72.9M$66.8M$66.6M
Stock-based compensation $54.6M$29.8M$26.8M$23.8M$25.2M$12.4M$8.7M$7.7M$6.8M$5.8M
Capital expenditure ——————$74.2M$72.2M$61.3M$59.3M
Investing cash flow -$343.9M-$233.1M-$201.5M-$246.9M-$221.5M-$126.2M-$99.5M-$146.7M-$79.3M-$65.5M
Financing cash flow $72.2M$397.9M$195.6M$93.6M$104.7M-$45.6M$25.0M-$10.9M-$32.2M-$5.9M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001683168-26-003086.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -1B 0 1B 2B 3B Revenue, FY2016: 884.5M Gross profit, FY2016: 108.7M Net income, FY2016: 7.2M Revenue, FY2017: 922.2M Gross profit, FY2017: 119.8M Net income, FY2017: 53K Revenue, FY2018: 975.1M Gross profit, FY2018: 107.6M Net income, FY2018: 32.2M Revenue, FY2019: 1.2B Gross profit, FY2019: 154.5M Net income, FY2019: 14.8M Revenue, FY2020: 1.1B Net income, FY2020: -14.8M Revenue, FY2021: 1.3B Net income, FY2021: 24.7M Revenue, FY2022: 1.4B Net income, FY2022: 10.7M Revenue, FY2023: 1.6B Net income, FY2023: 3M Revenue, FY2024: 1.8B Net income, FY2024: 2.8M Revenue, FY2025: 2B Net income, FY2025: -18.6M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $884.5M $922.2M $975.1M $1.15B $1.07B $1.32B $1.43B $1.62B $1.83B $2.04B
Gross profit $108.7M $119.8M $107.6M $154.5M — — — — — —
Net income $7.2M $53.0K $32.2M $14.8M -$14.8M $24.7M $10.7M $3.0M $2.8M -$18.6M

Recent filings and events

  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Other event Item 8.01
  • Results announced Item 2.02
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Regulation FD disclosure Item 7.01
  • Other event Item 8.01

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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