Reservoir Media, Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 7 fiscal years, taken from the XBRL data Reservoir Media, Inc. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2020	FY2022	FY2022	FY2023	FY2024	FY2025	FY2026
Revenue	62.5	80.2	108	122	145	159	176
Cost of revenue	27.3	32.9	44.2	48	55.5	57.4	62
Gross profit	35.2	47.4	63.7	74.3	89.4	101	114
General and administrative		15	25.3	31.2	39.8	39.9	44.7
Operating income	14.7	18.3	19.4	21.1	24.6	35.1	38.2
Interest expense						21.9	26.5
Other non-operating income			0.01	-0.02	-1.09	0.33	-0.5
Pre-tax income	13.5	11.4	17.4	8.4	1.17	9.87	11.2
Income tax	4.03	2.15	4.25	5.62	0.33	2.14	3.33
Net income to minority interests		0.05	0.05	0.24	0.19	-0.02	-0.48
Net income	9.48	9.25	13.1	2.54	0.64	7.75	8.3
EBITDA	23.1	32.4	38.4	43.1	49.6	61.4	69
EPS, basic	0.25	0.21	0.23	0.04	0.01	0.12	0.13
EPS, diluted	0.25	0.21	0.22	0.04	0.01	0.12	0.13
Shares, basic (weighted)		28.4	52.6	64.3	64.8	65.2	65.5
Shares, diluted (weighted)		44.5	58.5	64.8	65.3	65.9	66.3

Balance sheet

	FY2020	FY2022	FY2022	FY2023	FY2024	FY2025	FY2026
Cash and equivalents	58.2	9.21	17.8	14.9	18.1	21.4	25.9
Receivables		15.8	25.2	31.3	33.2	37.8	40.8
Other current assets		0.38			6.3	4.87	9.41
Total current assets		39.3	59.4	66.8	70.9	79.3	92.5
Property, plant and equipment		0.32	0.34	0.57	0.55	0.41	0.66
Lease right-of-use assets				7.36	6.99	5.95	7.89
Goodwill		0.4	0.4	0.4	0.4	0.4	0.4
Intangible assets	284	391	571	617	640	720	789
Long-term investments		1.59	3.91
Other non-current assets		0.78	0.56	1.15	1.13	1.38	1.53
Total assets	396	462	684	754	784	865	950
Accounts payable		3.32	4.44	6.68	9.02	5.39	4.12
Deferred revenue	0.47	1.34	1.1	2.15	1.16	1.89	2.47
Short-term debt		1
Total current liabilities		25.4	41.1	54.5	60.4	65.8	65.5
Long-term debt		212	270	311	331	388	456
Lease liabilities				7.07	6.72	5.72	7.45
Other non-current liabilities		6.74	1.01	0.79	0.57	0.59	0.35
Total liabilities	225	267	337	404	429	499	571
Total debt		213	270	311	331	388	456
Paid-in capital		110	335	338	341	344	347
Retained earnings	-10.1	-0.86	12.2	14.8	15.4	23.1	31.5
Other comprehensive income		2.1	-1.2	-4.86	-3.8	-2.42	-0.67
Shareholders' equity	170	193	346	348	353	365	378
Minority interests		1.01	1.06	1.3	1.49	1.32	0.85
Total equity	171	194	347	350	354	366	379
Total liabilities and equity	396	462	684	754	784	865	950
Shares outstanding		28.5	64.2	64.4	64.8	65.2	65.6

Cash flow statement

	FY2020	FY2022	FY2022	FY2023	FY2024	FY2025	FY2026
Net income	9.43	9.3	13.1	2.78	0.84	7.73	7.83
Depreciation and amortization	8.41	14.1	19	22.1	25	26.3	30.8
Stock-based compensation		0.1	2.89	3.2	3.39	4.39	4.27
Deferred income tax	3.64	1.62	4.04	5.25	-0.22	0.47	2.33
Change in receivables		-6.07	-9.4	-6.04	-1.97	-4.62	-2.98
Change in payables	1.68	-0.35	8.05	15.3	1.08	-3.58	-1.38
Cash from operations	11.1	14.7	12.5	31.2	36.2	45.3	50.1
Capital expenditures		-0.08	-0.2	-0.41	-0.23	-0.08	-0.48
Purchases of investments			-2.46
Cash from investing	-107	-119	-197	-72.2	-50.6	-96.7	-104
Stock issued		7.97		0.29	0.29	0.1	0.01
Cash from financing		47.2	197	38.5	17.6	54.5	64.2
Exchange rate effect		7.65	-3.59	-0.35	0.03	0.18	-0.11
Net change in cash		-49	8.6	-2.91	3.23	3.25	9.92
Free cash flow		14.6	12.3	30.8	36	45.2	49.7
Interest paid		8.18	9.22	12.6	17.5	22.8	24.7
Income taxes paid		0.13	0.69	0.32	0.36	1.4	1.3

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $9.49 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	64.7%	Gross profit / revenue.
Operating margin	21.2%	Operating income / revenue.
EBITDA margin	38.9%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	6.3%	Pre-tax income / revenue.
Net margin	4.9%	Net income / revenue.
FCF margin	23.4%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	23.7%	Cash from operations / revenue.
Effective tax rate	29.7%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	2.3%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	0.9%	Net income / average total assets.
Return on invested capital (ROIC)	3.2%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
Stock-based pay / revenue	2.8%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	0.3%	Capital expenditures / revenue.
D&A / revenue	17.6%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	10.7%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	12.8%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	17.0%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	12.2%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	15.2%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	19.1%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	9.0%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	22.0%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	15.8%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	12.5%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	17.0%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	16.3%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	7.1%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	48.4%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	-2.1%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	8.3%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	48.1%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	-9.1%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	10.7%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	17.1%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	27.8%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	9.9%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	17.3%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	27.7%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	3.5%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	2.7%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	14.3%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	9.8%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	8.0%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	15.5%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	0.5%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	0.8%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	8.3%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.31x	Current assets / current liabilities.
Quick ratio	0.95x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.23x	(Cash + short-term investments) / current liabilities.
Debt / equity	1.22x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	48.7%	Total debt / total assets.
Liabilities / assets	60.1%	Total liabilities / total assets.
Net debt	$448.5M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	6.41x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Working capital	$18.2M	Current assets - current liabilities.
Goodwill and intangibles / assets	84.3%	(Goodwill + intangible assets) / total assets.
Tangible book value	-$422.1M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.19x	Revenue / average total assets.
Fixed asset turnover	224x	Revenue / average property, plant and equipment.
Receivables turnover	4.21x	Revenue / average receivables.
Days sales outstanding	87 days	365 x average receivables / revenue.
Days payables	19 days	365 x average accounts payable / cost of revenue.
FCF conversion	481.3%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	1.2%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$0.13	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$2.74	Revenue / diluted weighted shares.
FCF per share	$0.64	Free cash flow / diluted weighted shares.
Operating cash flow per share	$0.65	Cash from operations / diluted weighted shares.
Book value per share	$5.73	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	-$6.40	Tangible book value / shares outstanding.
Cash per share	$0.21	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$625.7M	Share price x shares outstanding.
Enterprise value	$1.07B	Market cap + total debt - cash - short-term investments.
P/E	71.4x	Market cap / net income. Only when net income is positive.
P/S	3.48x	Market cap / revenue.
P/B	1.66x	Market cap / shareholders' equity. Only when equity is positive.
P/FCF	14.8x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	14.6x	Market cap / cash from operations, when positive.
EV/Sales	5.97x	Enterprise value / revenue.
EV/EBIT	28.1x	Enterprise value / operating income, when both are positive.
EV/EBITDA	15.4x	Enterprise value / EBITDA, when both are positive.
EV/FCF	25.5x	Enterprise value / free cash flow, when both are positive.
FCF yield	6.7%	Free cash flow / market cap.
Earnings yield	1.4%	Net income / market cap (the inverse of P/E).
PEG	1.48x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was Reservoir Media, Inc.'s revenue in fiscal 2026?

Reservoir Media, Inc. reported revenue of $175.7M for fiscal 2026, 10.7% higher than the year before.

Was Reservoir Media, Inc. profitable in fiscal 2026?

Yes. Net income was $8.3M, a net margin of 4.7%.

How much free cash flow did Reservoir Media, Inc. generate in fiscal 2026?

Cash from operations of $50.1M minus capital expenditures of $482.0K left free cash flow of $49.7M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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