Reading International Inc
RDI Communication Services Entertainment
Reading International Inc’s revenue for fiscal 2025 (year ended December 2025) was $203.0 million, down 3.58% from fiscal 2024. In the quarter to June 2026, revenue grew 10.8%, EPS grew 183.3%, free cash flow fell 89.4% and total debt rose 2.52%, each against the same quarter a year earlier. Operating cash flow growth for three consecutive years.
Follow RDI
Reading International Inc (RDI) Altman Z-score
Reading International Inc's Altman Z-score for fiscal 2025 is −0.15, in the distress zone (below 1.81).
Altman Z-score, annual
Embed this chart
Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | −0.15 | 0.05 |
| FY2024 | −0.20 | (0.26) |
| FY2023 | 0.06 | 0.00 |
| FY2022 | 0.06 | (0.08) |
| FY2021 | 0.14 | 0.39 |
| FY2020 | −0.25 | (0.95) |
| FY2019 | 0.70 | (1.01) |
| FY2018 | 1.71 | (0.13) |
| FY2017 | 1.84 | 0.10 |
| FY2016 | 1.74 | 0.11 |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | (0.16) | — | −0.20 | |
| Retained earnings / total assets | (0.30) | — | −0.42 | |
| EBIT / total assets | (0.01) | — | −0.04 | |
| Market value of equity / total liabilities | 0.05 | — | 0.03 | |
| Sales / total assets | 0.47 | — | 0.47 | |
| Altman Z-score | Distress zone | −0.15 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −2.17 | ||
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| LFS Leifras Co., Ltd. - Sponsored ADR compare | 5.8× |
| BLMZF Harrison Global Holdings Inc. compare | 3.3× |
| HUYA HUYA Inc. Sponsored ADR compare | 2.5× |
| GAIA Gaia, Inc. compare | 0.6× |
| RDI Reading International Inc | −0.2× |
| CNVS Cineverse Corp. compare | −5.2× |
| ANGH Anghami Inc. compare | −5.5× |
| NIPG NIP Group Inc. Sponsored ADR compare | −5.6× |
| TOON Kartoon Studios, Inc. compare | −14.6× |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets