Radnet (RDNT)
NASDAQ:RDNT
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Radnet
(NASDAQ:RDNT)
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Rating:51Neutral
Price Target:
$52.00
▼(-13.89% Downside)
Action:Reiterated
Date:06/04/26
The score is held back mainly by weaker financial quality (net losses, leverage, and negative TTM free cash flow) and bearish technicals, partially offset by a constructive earnings call with raised guidance and strong Q1 operational momentum; valuation remains constrained by losses and no dividend.
Positive Factors
Advanced‑Imaging Mix
A rising advanced‑imaging mix (MRI/CT/PET) that generates a majority of revenue while representing a minority of volume supports structurally higher revenue per procedure and margins. Durable demand and same‑center growth improve unit economics and reduce sensitivity to routine volume swings over months.
Negative Factors
Elevated Leverage
High absolute and relative debt levels reduce balance‑sheet flexibility and raise sensitivity to operating shocks. Even with improving liquidity, acquisition‑funded growth pushes leverage higher in the near term, making durable deleveraging dependent on consistent free cash flow and operational execution.
Read all positive and negative factors
Positive Factors
Negative Factors
Advanced‑Imaging Mix
A rising advanced‑imaging mix (MRI/CT/PET) that generates a majority of revenue while representing a minority of volume supports structurally higher revenue per procedure and margins. Durable demand and same‑center growth improve unit economics and reduce sensitivity to routine volume swings over months.
Read all positive factors
Radnet (RDNT) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$4.08B
Dividend YieldN/A
Average Volume (3M)800.76K
Price to Earnings (P/E)―
Beta (1Y)1.12
Revenue Growth14.72%
EPS Growth59.37%
CountryUS
Employees11,000
SectorHealthcare
Sector Strength45
IndustryMedical - Diagnostics & Research
Share Statistics
EPS (TTM)-0.18
Shares Outstanding78,634,240
10 Day Avg. Volume573,355
30 Day Avg. Volume800,765
Financial Highlights & Ratios
PEG Ratio0.38
Price to Book (P/B)4.92
Price to Sales (P/S)2.63
P/FCF Ratio62.70
Enterprise Value/Market Cap1.43
Enterprise Value/Revenue2.73
Enterprise Value/Gross Profit29.06
Enterprise Value/Ebitda18.11
Forecast
1Y Price Target
$85.00Price Target Upside40.75% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
EPS Forecast (FY)0.54
Revenue Forecast (FY)$2.49B
Radnet Business Overview & Revenue Model
Company Description
RadNet, Inc., together with its subsidiaries, provides outpatient diagnostic imaging services in the United States. Its services include magnetic resonance imaging, computed tomography, positron emission tomography, nuclear medicine, mammography, ...
How the Company Makes Money
RadNet primarily makes money by providing diagnostic imaging procedures at its outpatient imaging centers and billing for those services. Revenue is generated on a per-procedure basis and depends on modality mix (e.g., MRI and CT typically represe...
Radnet Earnings Call Summary
Earnings Call Date:May 10, 2026
(Q1-2026)
| Next Earnings Date:Aug 11, 2026
Earnings Call Sentiment Positive
The call conveyed strong operational momentum and financial results: record Q1 revenue and adjusted EBITDA, meaningful advanced-imaging growth, rapid ARR expansion and a robust sales pipeline in Digital Health, strategic acquisitions and healthy liquidity. Headwinds include weather-related Q1 impacts, short-term margin dilution in Digital Health from acquisitions and investments, seasonal first-quarter expense headwinds, and ongoing payer/reimbursement work for AI monetization. Overall, management raised imaging guidance, reaffirmed Digital Health guidance, and emphasized tangible productivity gains from AI deployments, indicating confidence in durable growth despite near-term investment-driven margin pressure.Positive Updates
Record Q1 Revenue and Adjusted EBITDA
Company delivered record first quarter results: revenue up 22.1% year-over-year and adjusted EBITDA up 36.3% year-over-year. Adjusted EBITDA margin improved by 115 basis points versus prior-year quarter (and improved 52 basis points after normalizing for weather and wildfire impacts).
Negative Updates
Severe Weather Impact on Q1 Results
Severe East Coast winter weather in January and February is estimated to have reduced revenue by ~$13 million and adjusted EBITDA by ~$9 million in Q1. Management noted prior-year quarter was also impacted by weather and Southern California wildfires.
Read all updates
Q1-2026 Updates
Positive
Negative
Record Q1 Revenue and Adjusted EBITDA
Company delivered record first quarter results: revenue up 22.1% year-over-year and adjusted EBITDA up 36.3% year-over-year. Adjusted EBITDA margin improved by 115 basis points versus prior-year quarter (and improved 52 basis points after normalizing for weather and wildfire impacts).
Read all positive updates
Company Guidance
RadNet raised its 2026 full‑year guidance for the Imaging Center business—boosting the low and high ends of imaging revenue by $30 million each, adjusted EBITDA by $5 million each, and free cash flow by $7 million each—citing stronger‑than‑expected March results that continued into April and May; Digital Health guidance was reaffirmed at $135–$145 million of revenue and $10–$12 million of adjusted EBITDA, with ARR at $97 million (up 95% YoY) and a year‑end ARR target above $140 million. The company reminded investors it delivered record Q1 revenue (+22.1% YoY) and adjusted EBITDA (+36.3% YoY) despite an estimated weather drag of $13 million of revenue and $9 million of adjusted EBITDA, and noted strong liquidity (cash $455.3 million), net debt to adjusted EBITDA just under 2.0×, a record low DSO of 29.5 days, and continued same‑center advanced imaging strength that underpins the raised guidance.Radnet Financial Statement Overview
Summary
Income Statement
54
Neutral
Balance Sheet
43
Neutral
Cash Flow
48
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.14B | 2.04B | 1.83B | 1.62B | 1.43B | 1.32B |
| Gross Profit | 201.17M | 90.80M | 249.12M | 221.39M | 165.72M | 191.80M |
| EBITDA | 322.80M | 242.93M | 262.55M | 292.79M | 278.53M | 278.37M |
| Net Income | -14.19M | -18.65M | 2.79M | 3.04M | 10.65M | 24.73M |
Balance Sheet | ||||||
| Total Assets | 3.89B | 3.76B | 3.29B | 2.69B | 2.43B | 2.06B |
| Cash, Cash Equivalents and Short-Term Investments | 455.34M | 767.22M | 740.02M | 342.57M | 127.83M | 134.61M |
| Total Debt | 1.93B | 1.86B | 1.73B | 1.49B | 1.51B | 1.40B |
| Total Liabilities | 2.53B | 2.40B | 2.15B | 1.88B | 1.94B | 1.71B |
| Stockholders Equity | 1.08B | 1.09B | 902.31M | 630.70M | 333.00M | 228.90M |
Cash Flow | ||||||
| Free Cash Flow | -148.74M | 85.57M | 44.95M | 44.26M | -103.00M | -71.20M |
| Operating Cash Flow | 349.61M | 298.82M | 233.02M | 220.86M | 146.42M | 149.49M |
| Investing Cash Flow | -658.09M | -343.87M | -233.07M | -201.47M | -246.95M | -221.51M |
| Financing Cash Flow | 48.91M | 72.21M | 397.95M | 195.63M | 93.65M | 104.67M |
Radnet Technical Analysis
Negative
60.39
Price Trends
56.07
Negative
62.24
Negative
69.05
Negative
Market Momentum
-1.06
Positive
42.28
Neutral
30.64
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For RDNT, the sentiment is Negative. The current price of 60.39 is above the 20-day moving average (MA) of 54.38, above the 50-day MA of 56.07, and below the 200-day MA of 69.05, indicating a bearish trend. The MACD of -1.06 indicates Positive momentum. The RSI at 42.28 is Neutral, neither overbought nor oversold. The STOCH value of 30.64 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for RDNT.
Radnet Risk Analysis
Radnet disclosed 44 risk factors in its most recent earnings report. Radnet reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Radnet Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | $11.28B | 47.54 | 3.28% | 0.29% | 4.79% | -16.36% | |
59 Neutral | $4.35B | 37.66 | 20.57% | ― | 7.44% | 372.41% | |
57 Neutral | $1.32B | -2.95 | -11.82% | ― | 10.95% | -26.52% | |
55 Neutral | $1.92B | -3.26 | -29.00% | ― | -3.91% | -25.31% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
51 Neutral | $4.08B | -286.74 | -1.36% | ― | 14.72% | 59.37% |
* Healthcare Sector Average
RDNT
Radnet
52.81
-5.84
-9.96%
NEOG
Neogen
9.12
3.91
75.05%
RVTY
Revvity
102.40
10.69
11.66%
NEO
NeoGenomics
11.31
3.89
52.43%
SHC
Sotera Health
15.57
3.27
26.59%
Radnet Corporate Events
Business Operations and StrategyExecutive/Board ChangesShareholder Meetings
RadNet Stockholders Approve All Proposals at 2026 Meeting
Positive
Jun 4, 2026
At its 2026 Annual Meeting of Stockholders held on June 2, 2026, RadNet, Inc. reported a quorum with about 93.6% of eligible shares represented and secured stockholder approval for all four items on the agenda. Stockholders elected six directors t...
Business Operations and StrategyPrivate Placements and Financing
RadNet Plans $200 Million Incremental Term Loan Financing
Positive
Jun 3, 2026
On June 3, 2026, RadNet, Inc., a national operator of outpatient imaging centers and radiology digital health platforms, announced plans to secure a $200 million incremental term loan through an amendment to its existing first-lien credit and guar...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.