Loading…
RadNet, Inc., together with its subsidiaries, provides outpatient diagnostic imaging services in the United States and internationally. The company operates in two segments, Imaging Centers and Digital Health. Its services include magnetic resonance imaging, computed tomography, positron emission tomography, nuclear medicine, mammography, ultrasound, diagnostic radiology, fluoroscopy, and other related procedures, as well as multi-modality imaging services. The company also develops and sells computerized systems that distribute, display, store, and retrieve digital images; picture archiving communications systems and related services; and develops and deploys AI suites to enhance radiologist interpretations of breast, lung, and prostate images, as well as solutions for prostate cancer screening. In addition, it develops and delivers AI-powered health informatics solutions to drive quality, efficiency, and outcomes in imaging and radiology; informatics designed for outpatient radiology; and DeepHealth OS, a cloud-native operating system that helps in the operations of the radiology service. RadNet, Inc. was founded in 1981 and is headquartered in Los Angeles, California.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $2.0B | $314M | $-19M | $86M | -1.7% | 11.5% | -767.8% |
| 2024 | $1.8B | $323M | $3M | $45M | 0.3% | 13.2% | -8.2% |
| 2023 | $1.6B | $293M | $3M | $44M | 0.5% | 13.0% | -71.4% |
| 2022 | $1.4B | $279M | $11M | $27M | 3.2% | - | - |
| 2021 | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 1,430.06 | 1,616.63 | 1,829.66 | 2,040.21 |
| Operating Revenue | - | 1,278.02 | 1,463.20 | 1,693.09 | 1,914.67 |
| Cost Of Revenue | - | 1,264.35 | 1,395.24 | 1,580.55 | 1,804.72 |
| Gross Profit | - | 165.72 | 221.39 | 249.12 | 235.48 |
| Operating Expense | - | 115.88 | 128.39 | 137.84 | 152.13 |
| Total Expenses | - | 1,380.22 | 1,523.63 | 1,718.39 | 1,956.85 |
| Operating Income | - | 49.84 | 93 | 111.28 | 83.36 |
| Total Operating Income As Reported | - | 46.36 | 98.70 | 104.62 | 61.99 |
| EBITDA | - | 278.53 | 292.79 | 323.10 | 313.82 |
| Normalized EBITDA | - | 243.12 | 312.08 | 349.06 | 342.29 |
| EBIT | - | 93.81 | 103.29 | 124.71 | 101.82 |
| Interest Expense | - | 50.84 | 64.48 | 79.85 | 69.91 |
| Net Interest Income | - | -50.84 | -64.48 | -79.85 | -69.91 |
| Other Non Operating Income Expenses | - | -1.83 | 6.35 | 24.92 | 32.07 |
| Other Income Expense | - | 43.97 | 10.29 | 13.43 | 18.46 |
| Interest Expense Non Operating | - | 50.84 | 64.48 | 79.85 | 69.91 |
| Net Non Operating Interest Income Expense | - | -50.84 | -64.48 | -79.85 | -69.91 |
| Pretax Income | - | 42.97 | 38.81 | 44.86 | 31.91 |
| Tax Provision | - | 9.36 | 8.47 | 6.03 | 14.86 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 7.72 | -4.21 | -3.49 | -5.98 |
| Net Income Continuous Operations | - | 33.61 | 30.34 | 38.84 | 17.05 |
| Net Income From Continuing And Discontinued Operation | - | 10.65 | 3.04 | 2.79 | -18.65 |
| Net Income From Continuing Operation Net Minority Interest | - | 10.65 | 3.04 | 2.79 | -18.65 |
| Net Income | - | 10.65 | 3.04 | 2.79 | -18.65 |
| Net Income Common Stockholders | - | 10.65 | 3.04 | 2.79 | -18.65 |
| Net Income Including Noncontrolling Interests | - | 33.61 | 30.34 | 38.84 | 17.05 |
| Normalized Income | - | -17.05 | 18.13 | 25.26 | 3.85 |
| Diluted NI Availto Com Stockholders | - | 10.65 | 3.04 | 2.79 | -18.65 |
| Basic Average Shares | - | 56.29 | 63.58 | 73.04 | 75.19 |
| Diluted Average Shares | - | 57.32 | 64.66 | 74.76 | 75.19 |
| Reconciled Depreciation | - | 184.72 | 189.49 | 198.39 | 211.99 |
| Reconciled Cost Of Revenue | - | 1,195.50 | 1,334.14 | 1,520 | 1,744.86 |
| Total Unusual Items | - | 35.42 | -19.30 | -25.95 | -28.48 |
| Total Unusual Items Excluding Goodwill | - | 35.42 | -19.30 | -25.95 | -28.48 |
| Minority Interests | - | -22.96 | -27.29 | -36.04 | -35.70 |
| Special Income Charges | - | -4.21 | -11.11 | -17.95 | -21.37 |
| Other Special Charges | - | 0.73 | 5.15 | 13.77 | 8.56 |
| Impairment Of Capital Assets | 0 | 0 | - | - | - |
| Restructuring And Mergern Acquisition | - | 0.95 | 3.78 | 1.90 | 3.14 |
| Gain On Sale Of Security | - | 39.62 | -8.18 | -8.01 | -7.11 |
| Depreciation Amortization Depletion Income Statement | - | 115.88 | 128.39 | 137.84 | 152.13 |
| Depreciation And Amortization In Income Statement | - | 115.88 | 128.39 | 137.84 | 152.13 |
| Gain On Sale Of Ppe | - | -2.53 | -2.19 | -2.28 | -9.66 |
| Rent Expense Supplemental | 121.96 | - | - | - | - |
| Other Operating Expenses | -9.11 | - | - | - | - |
| Earnings From Equity Interest | - | 10.39 | 23.24 | 14.47 | 14.88 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| RadNet, Inc.this co. | RDNT | $4.2B | -222.64 | 3.81 | -1.7% | 16.71 |
| Ligand Pharmaceuticals Incorporated | LGND | $4.7B | 37.99 | 4.65 | 12.2% | 25.35 |
| Indivior Pharmaceuticals, Inc. | INDV | $4.4B | 21.08 | -44.71 | -212.1% | 15.07 |
| Amneal Pharmaceuticals, Inc. | AMRX | $4.3B | 59.86 | -60.93 | -101.8% | 11.13 |
| Veracyte, Inc. | VCYT | $4.0B | 60.06 |
| - |
| - |
| - |
| - |
| 3.04 |
| 5.1% |
| 40.86 |
| Waystar Holding Corp. | WAY | $3.9B | 34.60 | 1.00 | 2.9% | 13.55 |
| Catalyst Pharmaceuticals, Inc. | CPRX | $3.8B | 17.87 | 4.01 | 22.5% | 10.56 |
| Merit Medical Systems, Inc. | MMSI | $3.8B | 29.27 | 2.37 | 8.1% | 12.46 |
| ACADIA Pharmaceuticals Inc. | ACAD | $3.7B | 9.51 | 3.03 | 31.9% | 30.83 |
| Peer Median | - | 31.93 | 2.70 | 6.6% | 14.31 | |