Reservoir Media, Inc.
RSVR Nasdaq Services-Amusement & Recreation Services Financials FY2021–FY2026
Last close · Oct 23, 2026
$9.57
0.3%
Revenue
Total sales reported in the income statement.
$176M
10.7%
vs prior year
Operating margin
Operating income as a share of revenue.
21.8%
0.3 pts
Net income
Profit after all expenses, interest and tax.
$8.3M
7.1%
Free cash flow
Cash from operations minus capital spending.
$49.7M
9.9%
Return on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
3.3%
0.4 pts
Market cap
Last close times the latest diluted share count, so it is approximate.
$629M
Oct 23 close
P/E
Last close divided by diluted earnings per share over the last four quarters.
73.6x
On $0.13 EPS (TTM)
What Reservoir Media, Inc. does
No business description yet.
- Legal name
- Reservoir Media, Inc.
- Fiscal year ends
- March 31, 2026
- Latest annual report
- 10-K · May 28, 2026
- Accession · CIK
- 0001104659-26-067615
0001824403
Revenue and margins
Reservoir Media, Inc. had $176M of revenue in fiscal 2026, up 10.7% on the year before.
FY21
Revenue $80.2M
FY22
Revenue $108M
FY23
Revenue $122M
FY24
Revenue $145M
FY25
Revenue $159M
FY26
Revenue $176M
Q2 '24
Revenue $38.4M
Q3 '24
Revenue $35.5M
Q4 '24
Revenue $39.1M
Q1 '25
Revenue $34.3M
Q2 '25
Revenue $40.7M
Q3 '25
Revenue $42.3M
Q4 '25
Revenue $41.4M
Q1 '26
Revenue $37.2M
Q2 '26
Revenue $45.4M
Q3 '26
Revenue $45.6M
Q4 '26
Revenue $47.5M
Q1 '27
Revenue $41.5M
FY21
Gross 59.1%
Operating 22.8%
Net 11.5%
FCF 18.2%
FY22
Gross 59.0%
Operating 17.9%
Net 12.1%
FCF 11.4%
FY23
Gross 60.8%
Operating 17.2%
Net 2.1%
FCF 25.2%
FY24
Gross 61.7%
Operating 17.0%
Net 0.4%
FCF 24.8%
FY25
Gross 63.8%
Operating 22.1%
Net 4.9%
FCF 28.5%
FY26
Gross 64.7%
Operating 21.8%
Net 4.7%
FCF 28.3%
Gross
Operating
Net
FCF
Q2 '24
Gross 62.4%
Operating 16.0%
Net 1.4%
FCF 51.2%
Q3 '24
Gross 62.7%
Operating 18.4%
Net −8.4%
FCF 9.8%
Q4 '24
Gross 63.4%
Operating 22.4%
Net 7.1%
FCF 35.2%
Q1 '25
Gross 61.3%
Operating 14.5%
Net −1.0%
FCF 24.9%
Q2 '25
Gross 63.5%
Operating 24.9%
Net 0.5%
FCF 32.7%
Q3 '25
Gross 64.4%
Operating 22.6%
Net 12.4%
FCF 26.6%
Q4 '25
Gross 65.6%
Operating 25.2%
Net 6.4%
FCF 29.3%
Q1 '26
Gross 64.5%
Operating 14.7%
Net −1.5%
FCF 16.1%
Q2 '26
Gross 63.6%
Operating 23.5%
Net 5.0%
FCF 42.2%
Q3 '26
Gross 64.5%
Operating 22.7%
Net 4.8%
FCF 28.1%
Q4 '26
Gross 66.2%
Operating 24.8%
Net 9.3%
FCF 24.7%
Q1 '27
Gross 64.4%
Operating 13.0%
Net −0.2%
FCF −3.6%
Gross
Operating
Net
FCF
Net income and earnings per share
From fiscal 2021 to 2026, diluted EPS grew −9.1% a year. Loss periods are shown in red.
FY21
Net income $9.3M
FY22
Net income $13.1M
FY23
Net income $2.5M
FY24
Net income $0.6M
FY25
Net income $7.7M
FY26
Net income $8.3M
Q2 '24
Net income $0.5M
Q3 '24
Net income −$3.0M
Q4 '24
Net income $2.8M
Q1 '25
Net income −$0.3M
Q2 '25
Net income $0.2M
Q3 '25
Net income $5.2M
Q4 '25
Net income $2.7M
Q1 '26
Net income −$0.6M
Q2 '26
Net income $2.3M
Q3 '26
Net income $2.2M
Q4 '26
Net income $4.4M
Q1 '27
Net income −$0.1M
FY21
Diluted EPS $0.21
FY22
Diluted EPS $0.22
FY23
Diluted EPS $0.04
FY24
Diluted EPS $0.01
FY25
Diluted EPS $0.12
FY26
Diluted EPS $0.13
Q2 '24
Diluted EPS $0.01
Q3 '24
Diluted EPS −$0.05
Q4 '24
Diluted EPS —
Q1 '25
Diluted EPS −$0.01
Q2 '25
Diluted EPS —
Q3 '25
Diluted EPS $0.08
Q4 '25
Diluted EPS —
Q1 '26
Diluted EPS −$0.01
Q2 '26
Diluted EPS $0.03
Q3 '26
Diluted EPS $0.03
Q4 '26
Diluted EPS $0.08
Q1 '27
Diluted EPS —
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
FY21
Return on capital 3.8%
Return on equity 4.8%
Return on assets 2.0%
FY22
Return on capital 2.4%
Return on equity 4.8%
Return on assets 2.3%
FY23
Return on capital 2.1%
Return on equity 0.7%
Return on assets 0.4%
FY24
Return on capital 2.6%
Return on equity 0.2%
Return on assets 0.1%
FY25
Return on capital 3.8%
Return on equity 2.2%
Return on assets 0.9%
FY26
Return on capital 3.3%
Return on equity 2.2%
Return on assets 0.9%
Return on capital
Return on equity
Return on assets
Cash flow
Free cash flow was $49.7M in fiscal 2026, 28.3% of revenue. Cash from operations minus capital spending.
FY21
Free cash flow $14.6M
FY22
Free cash flow $12.3M
FY23
Free cash flow $30.8M
FY24
Free cash flow $36.0M
FY25
Free cash flow $45.2M
FY26
Free cash flow $49.7M
Q2 '24
Free cash flow $19.7M
Q3 '24
Free cash flow $3.5M
Q4 '24
Free cash flow $13.8M
Q1 '25
Free cash flow $8.5M
Q2 '25
Free cash flow $13.3M
Q3 '25
Free cash flow $11.2M
Q4 '25
Free cash flow $12.2M
Q1 '26
Free cash flow $6.0M
Q2 '26
Free cash flow $19.2M
Q3 '26
Free cash flow $12.8M
Q4 '26
Free cash flow $11.7M
Q1 '27
Free cash flow −$1.5M
FY21
Cash from operations $14.7M
Capital spending $0.1M
FY22
Cash from operations $12.5M
Capital spending $0.2M
FY23
Cash from operations $31.2M
Capital spending $0.4M
FY24
Cash from operations $36.2M
Capital spending $0.2M
FY25
Cash from operations $45.3M
Capital spending $0.1M
FY26
Cash from operations $50.1M
Capital spending $0.5M
Cash from operations
Capital spending
Q2 '24
Cash from operations $19.7M
Capital spending $0.0M
Q3 '24
Cash from operations $3.6M
Capital spending $0.1M
Q4 '24
Cash from operations $13.8M
Capital spending $0.0M
Q1 '25
Cash from operations $8.6M
Capital spending $0.0M
Q2 '25
Cash from operations $13.3M
Capital spending $0.0M
Q3 '25
Cash from operations $11.2M
Capital spending $0.0M
Q4 '25
Cash from operations $12.2M
Capital spending $0.0M
Q1 '26
Cash from operations $6.0M
Capital spending $0.0M
Q2 '26
Cash from operations $19.3M
Capital spending $0.1M
Q3 '26
Cash from operations $12.9M
Capital spending $0.1M
Q4 '26
Cash from operations $11.9M
Capital spending $0.2M
Q1 '27
Cash from operations −$1.4M
Capital spending $0.1M
Cash from operations
Capital spending
Dividends, buybacks and share count
Reservoir Media, Inc. returned — to shareholders in fiscal 2026. The diluted share count rose 0.5%.
FY21
Dividends —
Buybacks —
FY22
Dividends —
Buybacks —
FY23
Dividends —
Buybacks —
FY24
Dividends —
Buybacks —
FY25
Dividends —
Buybacks —
FY26
Dividends —
Buybacks —
Dividends
Buybacks
FY21
Diluted shares 0.04B
FY22
Diluted shares 0.06B
FY23
Diluted shares 0.06B
FY24
Diluted shares 0.07B
FY25
Diluted shares 0.07B
FY26
Diluted shares 0.07B
Balance sheet
Cash, debt and the ratios that show how comfortably Reservoir Media, Inc. can carry it.
FY21
Cash $9.2M
Debt $213M
FY22
Cash $17.8M
Debt $270M
FY23
Cash $14.9M
Debt $311M
FY24
Cash $18.1M
Debt $331M
FY25
Cash $21.4M
Debt $388M
FY26
Cash $25.9M
Debt $456M
Cash
Debt
| Fiscal year end | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash and short-term investments | $17.8M | $14.9M | $18.1M | $21.4M | $25.9M |
| Debt incl. finance leases | $270M | $311M | $331M | $388M | $456M |
| Net debt / EBITDA | 6.6x | 6.9x | 6.3x | 6.0x | 6.2x |
| Debt / equity | 0.8x | 0.9x | 0.9x | 1.1x | 1.2x |
| Interest coverage | — | — | — | 1.6x | 1.4x |
| Current ratio | 1.4x | 1.2x | 1.2x | 1.2x | 1.4x |
| Quick ratio | 1.4x | 1.2x | 1.2x | 1.2x | 1.4x |
| Total assets | $684M | $754M | $784M | $865M | $950M |
| Total liabilities | $337M | $404M | $429M | $499M | $571M |
| Shareholders' equity | $346M | $348M | $353M | $365M | $378M |
| Net debt (− = net cash) | $252M | $297M | $313M | $367M | $430M |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. “Plan” marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
—
$0.0M
No open-market insider trades in the last 12 months.
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.
| Test | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Net income is positive | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ |
| Cash from operations is positive | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ |
| Return on assets rose | — | ✕ | ✕ | ✕ | ✓ | ✕ |
| Cash from operations exceeds net income | ✓ | ✕ | ✓ | ✓ | ✓ | ✓ |
| Debt fell relative to assets | — | ✓ | ✕ | ✕ | ✕ | ✕ |
| Current ratio rose | — | ✕ | ✕ | ✕ | ✓ | ✓ |
| Share count didn't rise | — | ✕ | ✕ | ✕ | ✕ | ✕ |
| Gross margin rose | — | ✕ | ✓ | ✓ | ✓ | ✓ |
| Revenue rose relative to assets | — | ✕ | ✓ | ✓ | ✕ | ✓ |
| F-score | — / 3 | 3 / 9 | 5 / 9 | 5 / 9 | 6 / 9 | 6 / 9 |
| Accruals ratio | −1.2% | 0.1% | −4.0% | −4.6% | −4.6% | −4.6% |
| Altman Z'' | 1.22 | 1.50 | 1.26 | 1.23 | 1.23 | 1.26 |
6 years of figures
Amounts in USD. Hover a ratio’s name for its definition.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| Revenue | $80.2M | $108M | $122M | $145M | $159M | $176M |
| Net interest income | −$9.0M | −$10.9M | −$14.8M | −$21.1M | −$21.9M | −$26.5M |
| Gross profit | $47.4M | $63.7M | $74.3M | $89.4M | $101M | $114M |
| Operating income | $18.3M | $19.4M | $21.1M | $24.6M | $35.1M | $38.2M |
| Interest expense | — | — | — | — | $21.9M | $26.5M |
| Pretax income | $11.4M | $17.4M | $8.4M | $1.2M | $9.9M | $11.2M |
| Income tax | $2.1M | $4.3M | $5.6M | $0.3M | $2.1M | $3.3M |
| Net income | $9.3M | $13.1M | $2.5M | $0.6M | $7.7M | $8.3M |
| Net income to common | $5.9M | $11.9M | $2.5M | $0.6M | $7.7M | — |
| Diluted EPS | $0.21 | $0.22 | $0.04 | $0.01 | $0.12 | $0.13 |
| Diluted shares | 0.04B | 0.06B | 0.06B | 0.07B | 0.07B | 0.07B |
| Cash flow | ||||||
| Cash from operations | $14.7M | $12.5M | $31.2M | $36.2M | $45.3M | $50.1M |
| Capital expenditure | $0.1M | $0.2M | $0.4M | $0.2M | $0.1M | $0.5M |
| Free cash flow | $14.6M | $12.3M | $30.8M | $36.0M | $45.2M | $49.7M |
| Depreciation and amortization | $14.1M | $19.0M | $22.1M | $25.0M | $26.3M | $30.8M |
| Stock-based compensation | $0.1M | $2.9M | $3.2M | $3.4M | $4.4M | $4.3M |
| Balance sheet | ||||||
| Cash and short-term investments | $9.2M | $17.8M | $14.9M | $18.1M | $21.4M | $25.9M |
| Total debt | $213M | $270M | $311M | $331M | $388M | $456M |
| Current assets | $39.3M | $59.4M | $66.8M | $70.9M | $79.3M | $92.5M |
| Current liabilities | $25.4M | $41.1M | $54.5M | $60.4M | $65.8M | $65.5M |
| Property and equipment, net | $0.3M | $0.3M | $0.6M | $0.6M | $0.4M | $0.7M |
| Goodwill | $0.4M | $0.4M | $0.4M | $0.4M | $0.4M | $0.4M |
| Intangible assets | $391M | $571M | $617M | $640M | $720M | $789M |
| Total assets | $462M | $684M | $754M | $784M | $865M | $950M |
| Total liabilities | $267M | $337M | $404M | $429M | $499M | $571M |
| Preferred stock | $81.6M | — | — | — | — | — |
| Shareholders' equity | $193M | $346M | $348M | $353M | $365M | $378M |
| Margins | ||||||
| Gross margin | 59.1% | 59.0% | 60.8% | 61.7% | 63.8% | 64.7% |
| Operating margin | 22.8% | 17.9% | 17.2% | 17.0% | 22.1% | 21.8% |
| EBITDA margin | 40.4% | 35.6% | 35.3% | 34.2% | 38.7% | 39.3% |
| Net margin | 11.5% | 12.1% | 2.1% | 0.4% | 4.9% | 4.7% |
| FCF margin | 18.2% | 11.4% | 25.2% | 24.8% | 28.5% | 28.3% |
| Net interest share of revenue | −11.2% | −10.1% | −12.1% | −14.6% | −13.8% | −15.1% |
| Returns | ||||||
| Return on capital | 3.8% | 2.4% | 2.1% | 2.6% | 3.8% | 3.3% |
| Return on capital employed | 4.2% | 3.0% | 3.0% | 3.4% | 4.4% | 4.3% |
| Return on equity | 4.8% | 4.8% | 0.7% | 0.2% | 2.2% | 2.2% |
| Return on assets | 2.0% | 2.3% | 0.4% | 0.1% | 0.9% | 0.9% |
| Growth | ||||||
| Revenue growth | — | 34.4% | 13.4% | 18.5% | 9.6% | 10.7% |
| Net income growth | — | 41.3% | −80.6% | −74.6% | 1,101.7% | 7.1% |
| EPS growth | — | 4.8% | −81.8% | −75.0% | 1,100.0% | 8.3% |
| FCF growth | — | −16.1% | 150.9% | 16.8% | 25.7% | 9.9% |
| Share count change | — | 31.2% | 10.9% | 0.7% | 1.1% | 0.5% |
| Financial health | ||||||
| Net debt / EBITDA | 6.3x | 6.6x | 6.9x | 6.3x | 6.0x | 6.2x |
| Debt / equity | 1.1x | 0.8x | 0.9x | 0.9x | 1.1x | 1.2x |
| Interest coverage | — | — | — | — | 1.6x | 1.4x |
| Current ratio | 1.5x | 1.4x | 1.2x | 1.2x | 1.2x | 1.4x |
| Quick ratio | 1.5x | 1.4x | 1.2x | 1.2x | 1.2x | 1.4x |
| Capital allocation | ||||||
| Capex / revenue | 0.1% | 0.2% | 0.3% | 0.2% | 0.1% | 0.3% |
| Stock comp / revenue | 0.1% | 2.7% | 2.6% | 2.3% | 2.8% | 2.4% |
| Quality scores | ||||||
| Piotroski F-score | — | 3.0 | 5.0 | 5.0 | 6.0 | 6.0 |
| Altman Z'' | 1.2 | 1.5 | 1.3 | 1.2 | 1.2 | 1.3 |
| Accruals ratio | −1.2% | 0.1% | −4.0% | −4.6% | −4.6% | −4.6% |
Source: SEC EDGAR XBRL filings (CIK 0001824403). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.