RadNet (RDNT) Cash Flow: Operating & Free Cash Flow

RadNet Cash Flow Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Cash flow statement showing operating, investing, and financing activities for RadNet, Inc. (RDNT) - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Operating Activities
Net Income	17.05	38.84	30.34	33.61	44.32	-1.75	23.44	38.13	2.08
Depreciation & Amortization	211.99	198.39	189.49	184.72	173.92	154.71	147.45	72.90	66.80
Deferred Income Tax	10.83	0.00	0.00	13.36	-21.49	8.88	0.00	-6.94	19.50
Stock Based Compensation	54.60	29.83	26.79	23.77	25.20	12.41	8.73	7.66	6.79
Change in Working Capital	-9.75	-56.49	-40.27	-58.70	-92.13	54.86	-77.85	18.35	21.31
Change in Accounts Receivable	-9.56	-21.77	2.65	-30.08	-5.89	25.21	-17.48	2.15	-37.16
Change in Inventory	0.00	0.00	0.00	0.00	-87.67	-45.07	0.00	-10.94	-0.38
Change in Accounts Payable	52.42	37.12	15.09	49.78	9.92	45.07	17.32	27.97	36.18
Change in Other Working Capital	11.69	7.57	-58.01	2.37	-87.67	29.66	-77.68	-0.83	22.67
Other Operating Activities	11.69	7.57	14.52	2.37	18.02	4.66	2.55	-13.35	24.71
Net Cash from Operating Activities	298.82	233.02	220.86	146.42	149.49	233.76	104.32	116.75	141.19
Investing Activities
Capital Expenditures	-213.25	-188.07	-176.60	-119.45	-137.87	-125.44	-101.30	-145.37	-88.95
Acquisitions	-137.57	-45.16	-24.95	-131.40	-77.69	-1.64	0.03	-2.00	-0.08
Purchases of Investments	-4.15	0.00	0.00	-1.44	-1.44	-1.64	-0.14	-2.20	-0.50
Sales/Maturities of Investments	0.00	0.00	0.00	1.44	-5.13	1.64	0.00	2.58	2.82
Other Investing Activities	5.67	0.16	0.08	3.90	0.63	0.83	1.95	0.25	8.43
Net Cash from Investing Activities	-343.87	-233.07	-201.47	-246.95	-221.51	-126.24	-99.47	-146.75	-78.28
Financing Activities
Debt Repayment	-27.78	-698.43	-43.99	-53.75	-622.83	-42.84	21.91	-11.90	-38.56
Common Stock Issued	5.45	218.39	245.83	0.29	0.49	0.00	0.00	0.02	0.00
Other Financing Activities	-4.46	13.57	-6.20	-0.89	9.71	-2.73	3.04	1.03	6.32
Net Cash from Financing Activities	72.21	397.95	195.64	93.65	104.67	-45.56	24.95	-10.87	-32.25
Summary
Effect of Forex Changes on Cash	0.03	-0.45	-0.29	0.11	-0.07	-0.10	-0.03	-0.07	0.03
Net Change in Cash	27.20	397.45	214.74	-6.77	32.59	61.85	29.78	-40.93	30.68
Cash at Beginning of Period	740.02	342.57	127.83	134.61	102.02	40.17	10.39	51.32	20.64
Cash at End of Period	767.22	740.02	342.57	127.83	134.61	102.02	40.17	10.39	51.32
Free Cash Flow	85.57	44.95	44.26	26.97	11.62	108.32	3.02	-28.62	52.24
Supplemental Disclosures
Interest Paid	-	84.60	64.70	39.15	29.04	39.52	-	-	-
Income Taxes Paid	-	4.17	1.59	0.59	1.95	5.07	-	-	-

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About RadNet Cash Flow

What is RadNet's free cash flow?

RadNet generated free cash flow of $85.57M in fiscal 2025 (fiscal year ended Dec 31, 2025), operating cash flow of $298.82M minus $213.25M of capital expenditures. That was up 90.4% from $44.95M a year earlier. Free cash flow equaled 4.2% of revenue.

How much does RadNet spend on capital expenditures?

RadNet spent $213.25M on capital expenditures in fiscal 2025, compared with $188.07M a year earlier. That equals 71.4% of operating cash flow.

Does RadNet pay dividends or buy back shares?

RadNet's cash flow statement for fiscal 2025 shows no dividend payments or share repurchases.

What is free cash flow?

Free cash flow is operating cash flow minus capital expenditures. It is the cash a company has left for dividends, buybacks, debt repayment or acquisitions after funding its operations and investment. Full definition