Forensic Analysis · General / Diversified · as of Jun 28, 2026
Rimini Street, Inc. (RMNI)
A forensic read on Rimini Street, Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
C · Mixed — selective
Forensic grade
Distress
Financial health
-1.4
Altman Z-score
Clean
Earnings quality
3
Forensic signals
11.4
P / E (ttm)
-32.0%
ROE
$400M
Market cap
Rimini Street, Inc. earns a C (Mixed — selective) forensic quality grade, and its Altman Z-score is -1.4, placing it in the Distress zone. 3 forensic signals were flagged in its latest SEC filings, led by share-count dilution.
What the filings flag
+2.6%/yrShare-count dilution.Diluted share count changed +8% over the last 3 years to FY2025 (+2.6%/yr). The count is GROWING — existing holders are being diluted. That's ~2.6% 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 ~8%.
119d DSOReceivables vs revenue.Days sales outstanding moved from 111 to 119 days FY2024→FY2025 (receivables +5% vs revenue -2%). Receivables are creeping up relative to sales — watch the trend.
3% of revStock-based comp load.Stock-based compensation ran 3% of revenue and 20% of free cash flow in FY2025 — about $0.12 per diluted share. Meaningful — reported free cash flow flatters the economics, since SBC is a real cost paid in shares.
Key fundamentals
Net Margin8.8%
Free Cash Flow$55.6M
Latest Revenue$421.5M
Revenue Growth YoY-1.7%
Go deeper — free with an account
The forensic grade and screens above are free — no account needed. An account adds the full interactive deep-dive on Rimini Street, Inc.:
🔒The written investment read — what the numbers mean, in plain English
🔒Ask anything about RMNI's filings — AI Q&A across the 10-K, 10-Qs & 8-Ks
🔒Interactive valuation — reverse-DCF sliders, Monte Carlo & scenario stress
🔒Calibrated 12-month price forecast, with the math shown