Rimini Street, Inc.
RMNI Technology Software Application
Rimini Street, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $421.5 million, down 1.68% from fiscal 2024. In the quarter to June 2026, revenue grew 6.69%, EPS fell 90.9%, free cash flow grew 87.8% and total debt fell 40.8%, each against the same quarter a year earlier.
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Rimini Street, Inc. (RMNI) Altman Z-score
Rimini Street, Inc.'s Altman Z-score for fiscal 2025 is 1.14, in the distress zone (below 1.81).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | 1.14 | 1.06 |
| FY2024 | 0.08 | (0.92) |
| FY2023 | 1.00 | 0.49 |
| FY2022 | 0.51 | (0.38) |
| FY2021 | 0.88 | 0.89 |
| FY2020 | −0.00 | 0.56 |
| FY2019 | −0.56 | 0.54 |
| FY2018 | −1.10 | 0.63 |
| FY2017 | −1.73 | 0.76 |
| FY2016 | −2.49 | (3.21) |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | (0.11) | — | −0.13 | |
| Retained earnings / total assets | (0.48) | — | −0.67 | |
| EBIT / total assets | 0.14 | — | 0.47 | |
| Market value of equity / total liabilities | 0.79 | — | 0.47 | |
| Sales / total assets | 1.00 | — | 1.00 | |
| Altman Z-score | Distress zone | 1.14 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | −1.39 | ||
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 |
|---|---|
| PLTS Platinum Analytics Cayman Limited compare | 136× |
| MFI mF International Limited compare | 19.8× |
| YB Yuanbao Inc. - Sponsored ADR compare | 5.1× |
| HKD AMTD Digital Inc. Sponsored ADR compare | 2.2× |
| RMNI Rimini Street, Inc. | 1.1× |
| API Agora, Inc. Sponsored ADR compare | 1.0× |
| QH Quhuo Limited Sponsored ADR compare | −0.2× |
| CRNC Cerence Inc. compare | −0.9× |
| ENRD Einride AB - Sponsored ADR compare | — |
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