Tearsheet

Reading International (RDI)


Market Price (12/23/2025): $1.05 | Market Cap: $23.9 Mil
Sector: Communication Services | Industry: Movies & Entertainment

Reading International (RDI)


Market Price (12/23/2025): $1.05
Market Cap: $23.9 Mil
Sector: Communication Services
Industry: Movies & Entertainment

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.


0 Attractive yield
FCF Yield is 9.0%
Weak multi-year price returns
2Y Excs Rtn is -88%, 3Y Excs Rtn is -140%
Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -2.8 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -1.3%
1 Megatrend and thematic drivers
Megatrends include Experience Economy & Premiumization. Themes include Experiential Retail.
  Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 1486%
2   Weak revenue growth
Rev Chg QQuarterly Revenue Change % is -13%
3   Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -63%
4   Key risks
RDI key risks include [1] significant liquidity and debt pressure due to its negative stockholders' equity and negative working capital, Show more.
0 Attractive yield
FCF Yield is 9.0%
1 Megatrend and thematic drivers
Megatrends include Experience Economy & Premiumization. Themes include Experiential Retail.
2 Weak multi-year price returns
2Y Excs Rtn is -88%, 3Y Excs Rtn is -140%
3 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -2.8 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -1.3%
4 Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 1486%
5 Weak revenue growth
Rev Chg QQuarterly Revenue Change % is -13%
6 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -63%
7 Key risks
RDI key risks include [1] significant liquidity and debt pressure due to its negative stockholders' equity and negative working capital, Show more.

Valuation, Metrics & Events

RDI Stock


Why The Stock Moved


Qualitative Assessment

AI Analysis | Feedback

1. Reading International's Q3 2025 earnings report revealed a revenue miss, with actual revenue of $52.2 million falling short of anticipated figures, contributing to negative market sentiment.

2. The company's full-year 2024 results indicated a decline in total revenue by 5.5% and a 15.1% increase in net loss, demonstrating a weakening financial performance in the period leading up to the specified timeframe.

Show more

Stock Movement Drivers

Fundamental Drivers

The -34.4% change in RDI stock from 9/22/2025 to 12/22/2025 was primarily driven by a -31.9% change in the company's P/S Multiple.
922202512222025Change
Stock Price ($)1.581.04-34.38%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)219.21211.29-3.61%
P/S Multiple0.160.11-31.90%
Shares Outstanding (Mil)22.7122.72-0.04%
Cumulative Contribution-34.38%

LTM = Last Twelve Months as of date shown

Market Drivers

9/22/2025 to 12/22/2025
ReturnCorrelation
RDI-34.4% 
Market (SPY)2.7%12.0%
Sector (XLC)-1.6%6.9%

Fundamental Drivers

The -24.6% change in RDI stock from 6/23/2025 to 12/22/2025 was primarily driven by a -25.7% change in the company's P/S Multiple.
623202512222025Change
Stock Price ($)1.381.04-24.64%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)205.64211.292.75%
P/S Multiple0.150.11-25.70%
Shares Outstanding (Mil)22.4322.72-1.30%
Cumulative Contribution-24.65%

LTM = Last Twelve Months as of date shown

Market Drivers

6/23/2025 to 12/22/2025
ReturnCorrelation
RDI-24.6% 
Market (SPY)14.4%14.0%
Sector (XLC)12.7%14.6%

Fundamental Drivers

The -20.0% change in RDI stock from 12/22/2024 to 12/22/2025 was primarily driven by a -24.3% change in the company's P/S Multiple.
1222202412222025Change
Stock Price ($)1.301.04-20.00%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)197.27211.297.11%
P/S Multiple0.150.11-24.34%
Shares Outstanding (Mil)22.4322.72-1.30%
Cumulative Contribution-20.01%

LTM = Last Twelve Months as of date shown

Market Drivers

12/22/2024 to 12/22/2025
ReturnCorrelation
RDI-20.0% 
Market (SPY)16.9%21.7%
Sector (XLC)20.5%23.5%

Fundamental Drivers

The -63.3% change in RDI stock from 12/23/2022 to 12/22/2025 was primarily driven by a -63.1% change in the company's P/S Multiple.
1223202212222025Change
Stock Price ($)2.831.04-63.25%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)205.82211.292.66%
P/S Multiple0.300.11-63.11%
Shares Outstanding (Mil)22.0422.72-3.05%
Cumulative Contribution-63.29%

LTM = Last Twelve Months as of date shown

Market Drivers

12/23/2023 to 12/22/2025
ReturnCorrelation
RDI-46.0% 
Market (SPY)47.7%13.7%
Sector (XLC)63.9%14.8%

Return vs. Risk


Price Returns Compared

 202020212022202320242025Total [1]
Returns
RDI Return-55%-20%-31%-31%-31%-23%-91%
Peers Return-50%266%-34%7%30%-19%36%
S&P 500 Return16%27%-19%24%23%17%113%

Monthly Win Rates [3]
RDI Win Rate42%42%25%33%25%25% 
Peers Win Rate42%65%37%57%57%35% 
S&P 500 Win Rate58%75%42%67%75%73% 

Max Drawdowns [4]
RDI Max Drawdown-80%-22%-34%-38%-35%-23% 
Peers Max Drawdown-71%-8%-40%-21%-25%-27% 
S&P 500 Max Drawdown-31%-1%-25%-1%-2%-15% 


[1] Cumulative total returns since the beginning of 2020
[2] Peers: CNK, AMC, MCS, EPR, REG.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/22/2025 (YTD)

How Low Can It Go

Unique KeyEventRDIS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-77.4%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven343.3%34.1%
2022 Inflation ShockTime to BreakevenTime to BreakevenNot Fully Recovered days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-80.0%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven400.0%51.3%
2020 Covid PandemicTime to BreakevenTime to BreakevenNot Fully Recovered days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-41.9%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven72.1%24.7%
2018 CorrectionTime to BreakevenTime to BreakevenNot Fully Recovered days120 days
2008 Global Financial Crisis2008 Global Financial Crisis  
2008 Global Financial Crisis% Loss% Loss-72.7%-56.8%
2008 Global Financial Crisis% Gain to Breakeven% Gain to Breakeven266.9%131.3%
2008 Global Financial CrisisTime to BreakevenTime to Breakeven2,073 days1,480 days

Compare to NFLX, DIS, LYV, FWONA, TKO

In The Past

Reading International's stock fell -77.4% during the 2022 Inflation Shock from a high on 1/25/2021. A -77.4% loss requires a 343.3% gain to breakeven.

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About Reading International (RDI)

Reading International, Inc., together with its subsidiaries, focuses on the ownership, development, and operation of entertainment and real property assets in the United States, Australia, and New Zealand. The company operates in two segments, Cinema Exhibition and Real Estate. The Cinema Exhibition segment operates multiplex cinemas. This segment operates its cinema exhibition businesses under the Reading Cinemas, Angelika Film Center, Consolidated Theatres, State Cinema, Event Cinemas, and Rialto Cinemas brands. The Real Estate segment develops, rents, or licenses retail, commercial, and live theater assets. As of December 31, 2020, the company had interests in 63 cinemas comprising approximately 515 screens; fee interests in two live theaters; fee interest in 44 Union Square property; fee interest in one cinema in Manhattan; fee interests in two cinemas in Australia and three cinemas in New Zealand; fee interest in entertainment-themed centers; fee interest in 2 office buildings; and fee ownership of approximately 8.9 million square feet of developed and undeveloped real estate assets. Reading International, Inc. was incorporated in 1999 and is headquartered in New York, New York.

AI Analysis | Feedback

Here are 1-3 brief analogies to describe Reading International (RDI):

  • A Cinemark with its own real estate development arm.
  • A real estate developer like Simon Property Group, but operating its own movie theaters.

AI Analysis | Feedback

  • Cinema Exhibition: Operates movie theaters, offering film screenings and associated concessions like food and beverages to the public.
  • Real Estate Development and Management: Owns, develops, and manages a diverse portfolio of commercial, residential, and retail properties.

AI Analysis | Feedback

Reading International (RDI) Major Customers

Major Customers of Reading International (RDI)

Reading International, Inc. (symbol: RDI) operates primarily in two segments: Cinema Exhibition and Real Estate. Based on its revenue distribution, the company's Cinema Exhibition segment generates significantly more revenue than its Real Estate segment. Therefore, the company sells primarily to individuals.

The company serves the following categories of individual customers through its cinema operations:

  • General Moviegoers / Entertainment Seekers: This is the broadest category, encompassing individuals and small groups of all demographics who attend cinemas for general entertainment, to watch current film releases, and to enjoy the overall cinema experience, including food and beverage concessions.
  • Families and Children: This segment is specifically targeted by family-friendly film content. Families attend with children, often seeking age-appropriate entertainment and contributing significantly to concession sales with group purchases.
  • Event Attendees / Niche Audiences: This category includes individuals who attend special events hosted at cinemas, such as live performance broadcasts (e.g., opera, ballet), film festivals, special limited-run film screenings, or themed movie nights, which cater to specific interests beyond typical new releases.

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  • The Walt Disney Company (DIS)
  • Warner Bros. Discovery, Inc. (WBD)
  • Paramount Global (PARA)
  • Sony Group Corporation (SONY)
  • Comcast Corporation (CMCSA)
  • Lions Gate Entertainment Corp. (LGF.A)

AI Analysis | Feedback

Ellen M. Cotter, Chief Executive Officer and President, Vice-Chair of the Board
Ellen M. Cotter joined Reading International in March 1998 and has served as Chief Executive Officer and President since January 2016, following an interim period. Prior to this, she was the Chief Operating Officer of the company's domestic cinema operations for over ten years, responsible for the acquisition, development, marketing, and operation of cinemas in the United States. Before joining Reading International, Ms. Cotter worked as a corporate attorney for four years at the law firm White & Case in New York City. She holds a Juris Doctor from Georgetown University Law Center and is a graduate of Smith College. She also serves as a director for Cecelia Packing Corporation and is a Co-Executor of her late father's estate, holding positions in various real estate entities.

Gilbert Avanes, Executive Vice President, Chief Financial Officer and Treasurer
Gilbert Avanes was appointed Executive Vice President, Chief Financial Officer, and Treasurer of Reading International on November 5, 2019. He has been with the company since August 2007, initially as a consultant and then as an employee. His previous roles include Interim Chief Financial Officer and Treasurer, Vice President of Financial Planning and Analysis, Senior Director of Financial Planning and Analysis, and Senior Finance Manager.

Margaret Cotter, Chair of the Board and Executive Vice President-Real Estate Management and Development
Margaret Cotter joined Reading International's Board in September 2002 and became Chair of the Board in December 2020. Since March 2016, she has served as Executive Vice President-Real Estate Management and Development. Before this full-time appointment, Ms. Cotter owned and served as President of OBI, LLC, which managed Reading International's live theatre operations and provided development services for New York theatre and cinema properties under a management agreement from 2002 until 2016.

Andrzej Matyczynski, Executive Vice President – Global Operations
Andrzej Matyczynski was appointed Executive Vice President – Global Operations for Reading International on March 10, 2016. He previously served as the company's Strategic Corporate Advisor and was the Chief Financial Officer and Treasurer from November 1999 to May 2015. Before his tenure at Reading International, Mr. Matyczynski held various senior international roles at Beckman Coulter Inc. for 20 years. He earned a Master's Degree in Business Administration from the University of Southern California.

Robert F. Smerling, President of US Cinemas
Robert F. Smerling has been President of Reading International's domestic cinema operations since 1994, overseeing the acquisition and development of all existing cinemas. Prior to joining Reading International, Mr. Smerling served as President of Loews Theaters, where he was responsible for the operations of approximately 600 cinemas and the development of more than 25 new multiplex cinemas.

AI Analysis | Feedback

  • Near-Term Liquidity and Debt Pressure: Reading International faces significant challenges with its balance sheet structure, including a negative stockholders' equity and a substantial negative working capital position. The company has a limited cash reserve and upcoming debt obligations, placing it under constant pressure to manage short-term liabilities, despite proactive measures like strategic real estate sales to service debt.
  • Structural Challenges in the Global Cinema Industry: The company's core cinema exhibition segment is a major "headwind" due to volatile revenue streams that are highly dependent on unpredictable box office performance. Furthermore, the company has deferred non-essential expenditures on cinema upgrades and refurbishments, which could impact its competitive standing in the long term.
  • Real Estate Market Fluctuations and Regulatory Changes: Although Reading International's real estate portfolio serves as a diversified asset, this segment is exposed to market-specific challenges such as fluctuating demand in commercial spaces and evolving city planning and zoning laws.

AI Analysis | Feedback

The ongoing shift in major studio distribution strategies, prioritizing streaming-first releases for a significant portion of their content and maintaining flexible or shorter theatrical windows for even some higher-profile films. This trend directly diminishes the consistent supply of diverse, exclusive content available for cinema exhibition, increasing Reading International's revenue volatility and reliance on a narrower slate of blockbuster titles.

The sustained downturn in the commercial real estate market, characterized by rising vacancy rates, declining property valuations, and higher financing costs across various sectors, including office and retail. This directly impacts Reading International's ability to lease its extensive real estate portfolio, maintain or grow rental income, and profitably pursue new development projects.

AI Analysis | Feedback

Reading International (RDI) operates primarily in two segments: Cinema Exhibition and Real Estate. The addressable markets for these main products and services are as follows:

Cinema Exhibition

  • United States: The movie theaters industry in the United States is projected to have a market size of $16.0 billion in 2025.
  • Australia: The Cinemas industry in Australia is estimated to have a market size of $1.4 billion in 2025.
  • New Zealand: The Cinemas industry in New Zealand is projected to have a market size of $270.1 million in 2025.

Real Estate

  • United States Commercial Real Estate: The Commercial Real Estate industry in the United States is estimated to be $1.5 trillion in 2025.
  • Australia Retail Property: The Retail Property Operators industry in Australia is projected to have a market size of $37.2 billion in 2025. The broader Australian commercial real estate market size was USD 33.88 billion in 2024 and is expected to reach almost USD 72.47 billion by 2034.
  • New Zealand Commercial Property: The commercial property market in New Zealand is anticipated to surpass $400 billion in 2025. The Commercial Property Operators industry in New Zealand is projected to have a market size of $28.2 billion in 2025.

AI Analysis | Feedback

Reading International (RDI) is expected to drive future revenue growth over the next two to three years through a combination of revitalized cinema performance, strategic real estate management, and enhanced customer experience initiatives. Here are 3-5 expected drivers of future revenue growth:
  • Cinema Business Rebound and Blockbuster Releases: Following the impacts of the 2023 Hollywood strikes, Reading International anticipates a recovery in its cinema segment, bolstered by a strong pipeline of blockbuster film releases. The company reported higher box office revenues in the fourth quarter of 2024 due to "record setting industry releases". Successful film releases, such as *Minecraft Movie*, *Lilo & Stitch*, and *Mission: Impossible*, were cited as contributors to strong box office performance in the second quarter of 2025. This trend is expected to continue, driving increased attendance and ticket sales.
  • Luxury Recliner Conversions: Reading International is investing in upgrading its cinema infrastructure to enhance the customer experience. In the United States, the company aims to convert 23 screens to luxury recliners across three theaters within the next 24 months. These upgrades typically attract more patrons and allow for higher ticket pricing, contributing to revenue growth.
  • Optimized Real Estate Performance and Strategic Asset Management: While the company has engaged in strategic asset sales that temporarily affected real estate revenues, its focus on optimizing remaining properties and increasing operating income is a key driver. In Q4 2024, global real estate revenues and operating income increased, supported by higher rental and ancillary income and a 96% leasing rate for non-cinema rental space. Strategic moves, such as the long-term leaseback and potential refurbishment of the Courtenay Central multiplex in Wellington, New Zealand, are anticipated to contribute to future real estate revenue streams.
  • Growth in Average Ticket Price (ATP) and Food & Beverage Spend Per Patron (F&B SPP): Reading International has demonstrated an ability to increase per-customer spending. The U.S. cinema circuit achieved its highest-ever average ticket price of $13.44 in Q2 2025. Additionally, Food & Beverage Spend Per Patron reached record highs across Australian, New Zealand, and U.S. markets in the same quarter. Continued success in these areas will drive revenue growth even with stable attendance.

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Share Repurchases

  • On March 10, 2020, Reading International's Board of Directors authorized a $25.0 million increase to its existing stock repurchase program, bringing the total authorized amount to $26.0 million. This program was set to expire on March 2, 2022.
  • The last share repurchase made by the company occurred on March 5, 2020, involving 25,000 shares at an average cost of $7.30 per share.
  • No shares have been repurchased by Reading International since March 10, 2020, and the authorized stock repurchase program expired on March 10, 2024, with $26.0 million remaining available at the time of expiration.

Share Issuance

  • Between March 30, 2023, and March 28, 2024, the number of Class A non-voting common stock shares outstanding increased from 20,501,150 to 20,675,185.
  • As of August 13, 2025, there were 21,036,670 shares of Class A non-voting common stock outstanding, an increase from March 2024.
  • Additional paid-in capital increased by $945,000 between December 31, 2024, and June 30, 2025, reflecting proceeds from share issuance.

Capital Expenditures

  • Reading International's capital expenditures were $4.711 million in 2023, $9.780 million in 2022, and $14.428 million in 2021.
  • The company significantly reduced capital expenditures in 2021 to manage negative operating cash flow, primarily due to the COVID-19 pandemic's impact on its cinema business.
  • Reduced depreciation and amortization expenses in both the fourth quarters of 2023 and 2024 were attributed to delays in capital expenditure spending, indicating a continued conservative approach.

Better Bets than Reading International (RDI)

Latest Trefis Analyses

TitleTopic
0DASHBOARDS 
1Reading International Earnings Notes 
Title
0ARTICLES

Trade Ideas

Select ideas related to RDI. For more, see Trefis Trade Ideas.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
PINS_11302025_Monopoly_xInd_xCD_Getting_Cheaper11302025PINSPinterestMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple
1.0%1.0%-1.4%
TMUS_11212025_Monopoly_xInd_xCD_Getting_Cheaper11212025TMUST-Mobile USMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple
-6.1%-6.1%-6.4%
Z_11212025_Monopoly_xInd_xCD_Getting_Cheaper11212025ZZillowMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple
-3.5%-3.5%-5.1%
IRDM_11072025_Dip_Buyer_High_CFO_Margins_ExInd_DE11072025IRDMIridium CommunicationsDip BuyDB | CFO/Rev | Low D/EDip Buy with High Cash Flow Margins
Buying dips for companies with significant cash flows from operations and reasonable debt / market cap
8.7%8.7%-5.6%
TTD_10032025_Dip_Buyer_High_CFO_Margins_ExInd_DE10032025TTDTrade DeskDip BuyDB | CFO/Rev | Low D/EDip Buy with High Cash Flow Margins
Buying dips for companies with significant cash flows from operations and reasonable debt / market cap
-27.7%-27.7%-29.8%

Recent Active Movers

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Peer Comparisons for Reading International

Peers to compare with:

Financials

RDICNKAMCMCSEPRREGMedian
NameReading .Cinemark AMC Ente.Marcus EPR Prop.Regency . 
Mkt Price1.0422.451.7015.1949.9969.1118.82
Mkt Cap0.02.60.90.53.812.61.7
Rev LTM2113,1534,8677536631,5221,138
Op Inc LTM-3367-2618365571191
FCF LTM2278-2952416815140
FCF 3Y Avg-7272-41929418754150
CFO LTM2445-4388416815252
CFO 3Y Avg-7422-18292418754255

Growth & Margins

RDICNKAMCMCSEPRREGMedian
NameReading .Cinemark AMC Ente.Marcus EPR Prop.Regency . 
Rev Chg LTM7.1%9.7%9.7%6.3%4.2%5.6%6.7%
Rev Chg 3Y Avg1.4%8.2%6.3%3.4%3.9%8.1%5.1%
Rev Chg Q-13.2%-7.0%-3.6%-9.7%4.3%7.6%-5.3%
QoQ Delta Rev Chg LTM-3.6%-2.0%-1.0%-2.9%1.1%1.8%-1.5%
Op Mgn LTM-1.3%11.6%-0.5%2.4%54.9%37.5%7.0%
Op Mgn 3Y Avg-6.2%11.2%-1.0%3.2%56.7%36.1%7.2%
QoQ Delta Op Mgn LTM-0.0%-1.2%-2.8%-1.2%-1.4%0.6%-1.2%
CFO/Rev LTM1.0%14.1%-0.9%11.7%62.7%53.6%12.9%
CFO/Rev 3Y Avg-3.2%14.0%-4.0%12.5%63.9%53.3%13.3%
FCF/Rev LTM1.0%8.8%-6.1%0.2%62.7%53.6%4.9%
FCF/Rev 3Y Avg-3.2%9.0%-9.1%4.0%63.9%53.3%6.5%

Valuation

RDICNKAMCMCSEPRREGMedian
NameReading .Cinemark AMC Ente.Marcus EPR Prop.Regency . 
Mkt Cap0.02.60.90.53.812.61.7
P/S0.10.80.20.65.78.30.7
P/EBIT4.47.5-7.029.011.620.29.5
P/E-1.716.4-1.461.119.130.617.8
P/CFO11.15.7-20.35.49.115.47.4
Total Yield-58.5%6.8%-73.5%3.5%5.2%7.3%4.4%
Dividend Yield0.0%0.7%0.0%1.9%0.0%4.0%0.4%
FCF Yield 3Y Avg-16.4%9.9%-28.2%5.9%11.4%6.1%6.0%
D/E15.21.29.40.70.80.41.0
Net D/E14.91.09.00.70.80.40.9

Returns

RDICNKAMCMCSEPRREGMedian
NameReading .Cinemark AMC Ente.Marcus EPR Prop.Regency . 
1M Rtn-11.9%-23.6%-22.7%-0.5%-3.1%-1.4%-7.5%
3M Rtn-34.4%-19.6%-43.3%-1.3%-9.8%-1.2%-14.7%
6M Rtn-24.6%-27.3%-43.1%-10.8%-12.6%-2.3%-18.6%
12M Rtn-20.0%-26.3%-59.3%-28.0%22.7%-2.5%-23.1%
3Y Rtn-63.3%163.0%-95.6%15.2%63.2%24.8%20.0%
1M Excs Rtn-21.3%-27.7%-23.1%-2.2%-7.1%-4.5%-14.2%
3M Excs Rtn-35.8%-25.6%-45.9%-5.3%-14.4%-5.6%-20.0%
6M Excs Rtn-38.1%-39.2%-56.2%-24.5%-24.1%-14.4%-31.3%
12M Excs Rtn-40.1%-43.6%-75.2%-44.6%6.8%-18.8%-41.9%
3Y Excs Rtn-140.1%21.5%-173.1%-72.6%-23.0%-53.4%-63.0%

Financials

Segment Financials

Revenue by Segment
$ Mil20242023202220212020
Cinema20819112767262
Real estate2017131322
Inter-segment revenue-5-5-1-2-7
Total22320313978277


Operating Income by Segment
$ Mil20242023202220212020
Real estate41-5-25
Cinema0-12-19-4523
Depreciation and amortization expense-1-1-1-1-0
General and administrative expense-15-16-17-13-19
Total-12-28-42-619


Assets by Segment
$ Mil20242023202220212020
Real estate236247257313295
Cinema230268316357365
Corporate67721142015
Total533587688690675


Price Behavior

Price Behavior
Market Price$1.04 
Market Cap ($ Bil)0.0 
First Trading Date03/17/1992 
Distance from 52W High-42.5% 
   50 Days200 Days
DMA Price$1.29$1.36
DMA Trenddowndown
Distance from DMA-19.3%-23.3%
 3M1YR
Volatility43.2%51.7%
Downside Capture134.3550.32
Upside Capture-87.4120.39
Correlation (SPY)10.8%20.9%
RDI Betas & Captures as of 11/30/2025

 1M2M3M6M1Y3Y
Beta-0.020.270.360.680.610.45
Up Beta1.960.750.220.900.520.57
Down Beta-3.610.260.330.530.920.53
Up Capture-64%-35%-16%37%25%2%
Bmk +ve Days13263974142427
Stock +ve Days6152653105321
Down Capture40%55%90%92%69%79%
Bmk -ve Days7162452107323
Stock -ve Days13223160120367

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
 Comparison of RDI With Other Asset Classes (Last 1Y)
 RDISector ETFEquityGoldCommoditiesReal EstateBitcoin
Annualized Return-29.3%17.3%14.7%67.3%6.8%-0.5%-16.6%
Annualized Volatility52.1%18.8%19.7%19.3%15.2%17.6%35.4%
Sharpe Ratio-0.490.720.572.540.23-0.18-0.25
Correlation With Other Assets 25.0%23.0%12.1%11.4%20.7%17.5%

ETFs used for asset classes: Sector ETF = XLC, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
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Based On 5-Year Data
 Comparison of RDI With Other Asset Classes (Last 5Y)
 RDISector ETFEquityGoldCommoditiesReal EstateBitcoin
Annualized Return-25.2%12.9%15.0%18.9%11.8%5.1%35.8%
Annualized Volatility49.0%20.9%17.1%15.5%18.7%18.9%48.9%
Sharpe Ratio-0.410.530.710.980.510.180.63
Correlation With Other Assets 20.2%20.2%5.1%9.8%19.9%9.9%

ETFs used for asset classes: Sector ETF = XLC, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
 Comparison of RDI With Other Asset Classes (Last 10Y)
 RDISector ETFEquityGoldCommoditiesReal EstateBitcoin
Annualized Return-22.6%13.0%14.9%14.9%6.7%5.5%69.9%
Annualized Volatility47.9%22.6%18.0%14.8%17.6%20.8%55.8%
Sharpe Ratio-0.360.530.710.840.300.230.90
Correlation With Other Assets 22.3%27.6%-4.9%14.5%30.0%4.9%

ETFs used for asset classes: Sector ETF = XLC, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date11282025
Short Interest: Shares Quantity25,561
Short Interest: % Change Since 1115202574.6%
Average Daily Volume48,588
Days-to-Cover Short Interest1
Basic Shares Quantity22,717,260
Short % of Basic Shares0.1%

Earnings Returns History

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 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
11/14/2025-3.1%-7.1% 
8/14/2025-2.8%-4.2%4.9%
4/3/20250.0%-6.3%11.1%
11/14/2024-3.4%-6.9%4.1%
8/14/2024-2.8%23.9%26.8%
4/3/2024-1.6%-1.1%-8.7%
11/15/20231.4%-0.6%3.3%
8/14/2023-5.2%-7.6%-12.9%
...
SUMMARY STATS   
# Positive858
# Negative101310
Median Positive1.6%6.8%8.3%
Median Negative-3.0%-6.2%-10.3%
Max Positive12.7%23.9%26.8%
Max Negative-12.4%-32.9%-29.1%

SEC Filings

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Report DateFiling DateFiling
93020251114202510-Q 9/30/2025
6302025814202510-Q 6/30/2025
3312025515202510-Q 3/31/2025
12312024331202510-K 12/31/2024
93020241114202410-Q 9/30/2024
6302024814202410-Q 6/30/2024
3312024515202410-Q 3/31/2024
12312023329202410-K 12/31/2023
93020231115202310-Q 9/30/2023
6302023814202310-Q 6/30/2023
3312023515202310-Q 3/31/2023
12312022331202310-K 12/31/2022
93020221109202210-Q 9/30/2022
6302022809202210-Q 6/30/2022
3312022510202210-Q 3/31/2022
12312021316202210-K 12/31/2021

Insider Activity

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 OwnerTitleFiling DateActionPriceSharesTransacted
Value
Value of
Held Shares
Form
0Lucas Steven JohnVP, Controller & CAO6232025Sell1.3437,99450,91228,096Form