Forensic Analysis · Healthcare / Pharmaceuticals / Biotech · as of Aug 11, 2026
Radnet, Inc. (RDNT)
A forensic read on Radnet, Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
D · Weak — demands caution
Forensic grade
Safe
Financial health
3.5
Distress distance
Clean
Earnings quality
5
Forensic signals
-397.3
P / E (ttm)
-1.7%
ROE
$6.1B
Market cap
0.00%
Dividend yield
11.5%
Revenue growth
This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.
Radnet, Inc. earns a D (Weak — demands caution) forensic quality grade, and its balance-sheet distress test reads 3.5, placing it in the Safe zone. 5 forensic signals were flagged in its latest SEC filings, led by return on invested capital.
What the filings flag
1.7%
FY2025
Return on invested capital.Return on invested capital is 1.7% in the latest fiscal year and steady — well below its ~10% cost of capital, so reinvested dollars may be destroying value, not building it.
+9.5%/yr
FY2022–FY2025
Share-count dilution.Diluted share count changed +31% over the last 3 years to FY2025 (+9.5%/yr). The count is growing: more stock was issued than repurchased over this window, so aggregate results grew faster than their per-share equivalents. That's ~9.5% shaved off per-share growth every year — total profit has to grow that much just to keep earnings-per-share flat, and a stake held since FY2022 has been diluted ~24%.
+17.4%
FY2024→FY2025
Accruals ratio (% of NOA).Net operating assets grew +17.4% relative to their own average in FY2025 — scaled by NOA itself, not total assets (see the Forensic Screens card's differently-scaled Sloan Accrual Ratio for that read). Accruals are building faster than is comfortable — part of profit is sitting in the balance sheet rather than turning to cash. The build is led by PP&E up +16% against revenue +12%. The cash-flow cross-check is more mixed: reported earnings ran behind operating cash by 21% of net operating assets, diverging from the balance-sheet accrual read.
3% of rev
FY2025
Stock-based comp load.Stock-based compensation ran 3% of revenue and 64% of free cash flow in FY2025 — about $0.73 per diluted share. The cost of it is not in the cash flow — no cash left the business — it is in the count, and there it has run at about 9.7% a year and is falling.
-69%
Key fundamentals
Latest Revenue$2.04B
Revenue Growth YoY+11.5%
Revenue CAGR (3yr)+12.6%
Net Margin-0.9%
Free Cash Flow$85.6M
Return on Equity-1.7%
Debt / Equity1.00x
The forensic grade and screens above are free — no account needed. Want the AI investment read on top — the 0–100 rating, thesis, bull-vs-bear, red flags and the 12-month scenario, written from Radnet, Inc.'s actual 10-K/10-Q/8-K filings?
Data from SEC EDGAR public filings · metrics as of Aug 11, 2026. Forensic signals flag probability, not certainty.
Radnet, Inc. (RDNT) Stock — Forensic Analysis, Red Flags & Rating | Stockonomy · Stockonomy
FY2015→FY2016
Dividend — cut.The payout was CUT ~69% in FY2016 (from FY2015) and hasn't been restored since. It still returns some cash, but it is NOT the dependable, rising dividend an unbroken streak implies.