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RadNet, Inc.
🏹 Trader: 🚀 Stage 2 + Near High 📈 Stage 2 🎯 Near 52W High | BRS 66 Forming View all →
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$5.8B
Market Cap
1,746.0
P/E
9.12
PEG
1.4%
ROCE
1.4%
ROE
1.31
D/E
3.0%
OPM
-9.0%
% from 52W High
81
α RS
🔍 RDNT is showing a sector-leadership setup because Sector RRG has Health Care in the Leading quadrant with the trail still strengthening, RS Rating is 81, and it's within 9% of its 52-week high. Net: Broad signal stack, not a recommendation. ? RRG RS Rating 52W High
Sources
Health Care in Leading quadrant · RS Rating 81 · 9% from 52W high
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Currency-adjusted total returns for RDNT including FX impact
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📈 Price History
Ratio Health
Excellent
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By Category
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About

RadNet, Inc., together with its subsidiaries, provides outpatient diagnostic imaging services in the United States and internationally.

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📈 Growth Pattern
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⭐ Superinvestors Holding RDNT
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Manager Shares Value % of Fund Period
Steve Cohen Point72 Asset Management 855.4K $47.8M 0.06% Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

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📊 MIXED RadNet Q1 2026: revenue up 22.1%, adjusted EBITDA up 36.3%, raises full-year guidance.
Revenue & Profitability
Q1 2026 total revenue grew 22.1% and adjusted EBITDA grew 36.3% year-over-year. Imaging center adjusted EBITDA margin improved 188 basis points (52 bps normalized for weather and wildfires). The company ended the quarter with $455.3 million cash and a net debt to adjusted EBITDA ratio of ~2x. Digital Health segment reported $97 million in annual recurring revenue (ARR), up 95% year-over-year. Full-year guidance raised: imaging center revenue by $30 million, adjusted EBITDA by $5 million, and free cash flow by $7 million. Digital Health guidance reaffirmed at $135-$145 million revenue and $10-$12 million adjusted EBITDA.
Outlook
Management sees strong industry demand driven by advancements in advanced imaging (MRI, CT, PET/CT) for earlier diagnosis and better outcomes. Radiologist burnout, imaging backlogs, and staffing shortages continue to build, supporting the need for AI and cloud-native technologies. The company raised guidance based on strong March, April, and early May performance. Medicare reimbursement for 2027 is not yet known; CMS is expected to release preliminary rates in June or July 2026.
Growth Drivers
Key growth levers include same-center advanced imaging volume growth of 8.2% (MRI +10.1%, PET/CT +14.7% same-center), digital transformation via AI (70% of studies covered by AI), and acquisitions (Radiology Regional in FL, Northwest Radiology in IN, Trinity JV in ID). Digital Health ARR is on track to exceed $114 million by year-end, supported by a $150 million commercial pipeline in total contract value. The company is also launching new solutions like the next version of the DeepHealth Diagnostic Suite for hospitals.
Balance Sheet & CapEx
Not discussed in this earnings call. The company noted significant capital investments in advanced imaging equipment and in Digital Health acquisitions (e.g., Gleamer). It continues to invest in deployment capability to convert the large commercial pipeline into revenue, but no specific CapEx figures were provided.
Margins
Imaging center adjusted EBITDA margin improved 188 basis points year-over-year (52 bps normalized). Digital Health segment margins are intentionally lower due to recent acquisitions (Gleamer) and infrastructure investments, with 2026 expected to be the trough year. The core organic Digital Health business operates at 30-40% EBITDA margins, but overall segment EBITDA is guided at $10-$12 million for 2026. The company expects gradual margin improvement toward its 20%+ target by 2028, assuming no major dilutive acquisitions.
Key Risks
Risks flagged include weather-related disruptions (estimated $13 million revenue and $9 million EBITDA impact in Q1 2026), seasonality (first quarter typically lower due to deductible resets and payroll taxes), reimbursement uncertainty (Medicare Physician Fee Schedule changes), integration of acquisitions (Florida, Indiana, Gleamer), and industry-wide challenges such as radiologist burnout and staffing shortages. Additionally, the company noted that Digital Health margins are sensitive to continued investment in R&D and commercial infrastructure.
Generated by AI · Q1 2026 results · Not investment advice
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✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter
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📞 Earnings Call Transcripts (5)
Q2 2026 Q2 2026 2026-08-10
Record quarterly revenue and adjusted EBITDA were driven by strong advanced imaging volumes, acquisitions, and Digital Health growth. Guidance for 2026 was raised, with continued margin improvement expected as integration costs subside and AI tools expand.
Q1 2026 Q1 2026 2026-05-11
Record Q1 revenue and EBITDA were achieved despite weather impacts, driven by advanced imaging growth, strong Digital Health momentum, and successful acquisitions. Guidance for 2026 was raised, with robust cash flow and margin improvements expected as integration and AI deployment continue.
Q4 2025 Q4 2025 2026-03-02
Record Q4 and full-year 2025 results were driven by strong imaging and Digital Health growth, major acquisitions, and robust cash flow. The Gleamer acquisition positions the company as a global AI leader, with 2026 guidance projecting double-digit revenue and ARR growth.
Q3 2025 Q3 2025 2025-11-10
Record Q3 revenue and adjusted EBITDA were driven by robust advanced imaging growth, successful AI and digital health integration, and margin improvement. Guidance for 2025 was raised, with strong liquidity and a positive Medicare outlook for 2026.
Q2 2025 Q2 2025 2025-08-11
Record Q2 revenue and adjusted EBITDA were driven by strong growth in advanced imaging and digital health, aided by technology investments and recent acquisitions. Guidance for 2025 was raised, and liquidity remains robust, supporting further expansion and innovation.
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Financial Model
Projections are built from each company's audited annual financials (Income Statement, Balance Sheet, Cash Flow) over the last 5 fiscal years. Forward assumptions — revenue growth %, EBITDA margin, D&A (USD millions), interest expense, tax rate, and capex — are AI-generated using historical context and refreshed twice a year: after the December results season and after the September/Q4 results season.

DCF Valuation
Fair Value = Σ(FCFt / (1+WACC)t) + Terminal Value. Terminal Value uses the Gordon Growth Model: FCF5 × (1+g) / (WACC−g). Default WACC: 10% (US risk-free ~4.5%, equity risk premium ~5.5%). Default terminal growth: 3% (long-run US nominal GDP proxy).

CAGR Tracker
Expected 5-year CAGR = (DCF Fair Value / Current Price)1/5 − 1. Assumes fair value is reached in exactly 5 years — a mechanical estimate only.

Data Sources & Limitations
Financial statements sourced from public filings. Prices updated daily. Forward assumptions are AI-generated. All monetary values in USD millions. Non-US ADR companies may have currency conversion inaccuracies. Models are point-in-time and do not update intra-quarter or account for M&A, macro shocks, or extraordinary items.

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