Reading International (RDI)


Market Price (11/5/2026): $1.66 | Market Cap: $38.0 MilSector: Communication Services | Industry: Movies & Entertainment

Reading International (RDI)


Market Price (11/5/2026): $1.66
Market Cap: $38.0 Mil
Sector: Communication Services
Industry: Movies & Entertainment

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

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Attractive yield
FCF Yield is 14%

Megatrend and thematic drivers
Megatrends include Experience Economy & Premiumization. Themes include Experiential Retail.

Weak multi-year price returns
2Y Excs Rtn is -11%, 3Y Excs Rtn is -91%

Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 919%

Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -2.2%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is 0.9%

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 -37%

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 14%
1 Megatrend and thematic drivers
Megatrends include Experience Economy & Premiumization. Themes include Experiential Retail.
2 Weak multi-year price returns
2Y Excs Rtn is -11%, 3Y Excs Rtn is -91%
3 Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 919%
4 Weak revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is -2.2%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is 0.9%
5 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 -37%
6 Key risks
RDI key risks include [1] significant liquidity and debt pressure due to its negative stockholders' equity and negative working capital, Show more.

RDI in ETFs

Weight = RDI's share of each fund

VTI0.00%

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

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Updated on 11/1/2026

Reading International (RDI) stock has gained about 15% since 7/31/2026 because of the following key factors:

1. Strong financial rebound in fiscal Q2 2026. Reading International reported significant improvements in its second quarter, which ended on June 30, 2026, with results released on August 14, 2026. Basic Earnings Per Share (EPS) rose to $0.10, a notable increase from a loss of $0.12 in fiscal Q2 2025. The company's Net Income also saw a positive shift, reaching $2.3 million compared to a $2.8 million loss in the prior year's second quarter. Total Revenues for fiscal Q2 2026 grew to $66.9 million, the highest since pre-pandemic levels. Operating Income improved by 159% to $7.5 million from $2.9 million in fiscal Q2 2025, marking the highest such result since fiscal Q2 2018. Additionally, EBITDA increased by 79% to $11.3 million from $6.3 million in fiscal Q2 2025.

2. Robust performance in cinema exhibition and positive outlook. Reading International's cinema segment demonstrated strong operational results. The company's Australian cinema circuit achieved its highest quarterly revenue ever and its highest Operating Income since fiscal Q2 2018. In the U.S., the cinema circuit delivered its highest three-day box office weekend on a same-store basis for the weekend of July 31, 2026, contributing to an overall positive sentiment for the period. Management also projected continued momentum, anticipating record-setting weekends for the remainder of 2026 with upcoming film releases such as "Avengers: Doomsday," "Dune 3," and "Jumanji 3."

Show more
Updated on 11/1/2026

Reading International (RDI) stock has gained about 15% since 7/31/2026 because of the following key factors:

1. Strong financial rebound in fiscal Q2 2026. Reading International reported significant improvements in its second quarter, which ended on June 30, 2026, with results released on August 14, 2026. Basic Earnings Per Share (EPS) rose to $0.10, a notable increase from a loss of $0.12 in fiscal Q2 2025. The company's Net Income also saw a positive shift, reaching $2.3 million compared to a $2.8 million loss in the prior year's second quarter. Total Revenues for fiscal Q2 2026 grew to $66.9 million, the highest since pre-pandemic levels. Operating Income improved by 159% to $7.5 million from $2.9 million in fiscal Q2 2025, marking the highest such result since fiscal Q2 2018. Additionally, EBITDA increased by 79% to $11.3 million from $6.3 million in fiscal Q2 2025.

2. Robust performance in cinema exhibition and positive outlook. Reading International's cinema segment demonstrated strong operational results. The company's Australian cinema circuit achieved its highest quarterly revenue ever and its highest Operating Income since fiscal Q2 2018. In the U.S., the cinema circuit delivered its highest three-day box office weekend on a same-store basis for the weekend of July 31, 2026, contributing to an overall positive sentiment for the period. Management also projected continued momentum, anticipating record-setting weekends for the remainder of 2026 with upcoming film releases such as "Avengers: Doomsday," "Dune 3," and "Jumanji 3."

3. Strategic real estate asset monetization to enhance liquidity. On September 4, 2026, Reading International announced the monetization of a key New York cinema asset. This move was part of the company's ongoing strategy to bolster liquidity and manage its real estate portfolio. The sale of the Cinemas 123 building in New York City was highlighted as a continuation of efforts to improve the company's financial flexibility.

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Stock Movement Drivers

Fundamental Drivers

The 14.7% change in RDI stock from 7/31/2026 to 11/4/2026 was primarily driven by a 11.4% change in the company's P/S Multiple.
(LTM values as of)731202611042026Change
Stock Price ($)1.461.6814.7%
Change Contribution By: 
Total Revenues ($ Mil)2082143.1%
P/S Multiple0.20.211.4%
Shares Outstanding (Mil)2323-0.2%
Cumulative Contribution14.7%

LTM = Last Twelve Months as of date shown

Market Drivers

7/31/2026 to 11/4/2026
ReturnCorrelation
RDI14.7% 
Market (SPY)2.6%14.5%
Sector (XLC)-3.0%5.0%

Fundamental Drivers

The 46.9% change in RDI stock from 4/30/2026 to 11/4/2026 was primarily driven by a 39.3% change in the company's P/S Multiple.
(LTM values as of)430202611042026Change
Stock Price ($)1.141.6846.9%
Change Contribution By: 
Total Revenues ($ Mil)2032145.7%
P/S Multiple0.10.239.3%
Shares Outstanding (Mil)2323-0.2%
Cumulative Contribution46.9%

LTM = Last Twelve Months as of date shown

Market Drivers

4/30/2026 to 11/4/2026
ReturnCorrelation
RDI46.9% 
Market (SPY)7.0%10.3%
Sector (XLC)-9.7%8.3%

Fundamental Drivers

The 20.5% change in RDI stock from 10/31/2025 to 11/4/2026 was primarily driven by a 23.4% change in the company's P/S Multiple.
(LTM values as of)1031202511042026Change
Stock Price ($)1.391.6820.5%
Change Contribution By: 
Total Revenues ($ Mil)219214-2.2%
P/S Multiple0.10.223.4%
Shares Outstanding (Mil)2323-0.2%
Cumulative Contribution20.5%

LTM = Last Twelve Months as of date shown

Market Drivers

10/31/2025 to 11/4/2026
ReturnCorrelation
RDI20.5% 
Market (SPY)13.4%11.8%
Sector (XLC)-7.8%10.3%

Fundamental Drivers

The -9.5% change in RDI stock from 10/31/2023 to 11/4/2026 was primarily driven by a -9.7% change in the company's P/S Multiple.
(LTM values as of)1031202311042026Change
Stock Price ($)1.851.68-9.5%
Change Contribution By: 
Total Revenues ($ Mil)2092142.5%
P/S Multiple0.20.2-9.7%
Shares Outstanding (Mil)2223-2.2%
Cumulative Contribution-9.5%

LTM = Last Twelve Months as of date shown

Market Drivers

10/31/2023 to 11/4/2026
ReturnCorrelation
RDI-9.5% 
Market (SPY)89.7%13.0%
Sector (XLC)67.3%12.7%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
RDI Return-20%-31%-31%-31%-20%60%-67%
Peers Return266%-34%7%30%-19%65%351%
S&P 500 Return27%-19%24%23%16%11%102%

Monthly Win Rates [3]
RDI Win Rate42%25%33%25%25%64% 
Peers Win Rate65%37%57%57%35%69% 
S&P 500 Win Rate75%42%67%75%67%36% 

Max Drawdowns [4]
RDI Max Drawdown-49%-44%-54%-40%-44%-31% 
Peers Max Drawdown-35%-46%-36%-28%-34%-22% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[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] 2026 data is for the year up to 11/4/2026 (YTD)

How Low Can It Go

EventRDIS&P 500
2025 US Tariff Shock
  % Loss-21.3%-18.8%
  % Gain to Breakeven27.1%23.1%
  Time to Breakeven137 days79 days
2015-2016 China Devaluation / Global Growth Scare
  % Loss-26.2%-12.2%
  % Gain to Breakeven35.5%13.9%
  Time to Breakeven83 days62 days
2010 Eurozone Sovereign Debt Crisis / Flash Crash
  % Loss-15.7%-15.4%
  % Gain to Breakeven18.6%18.2%
  Time to Breakeven44 days125 days
2008-2009 Global Financial Crisis
  % Loss-71.4%-53.4%
  % Gain to Breakeven250.0%114.4%
  Time to Breakeven2065 days1085 days

Compare to CNK, AMC, MCS, EPR, REG

In The Past

Reading International's stock fell -21.3% during the 2025 US Tariff Shock. Such a loss loss requires a 27.1% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventRDIS&P 500
2025 US Tariff Shock
  % Loss-21.3%-18.8%
  % Gain to Breakeven27.1%23.1%
  Time to Breakeven137 days79 days
2015-2016 China Devaluation / Global Growth Scare
  % Loss-26.2%-12.2%
  % Gain to Breakeven35.5%13.9%
  Time to Breakeven83 days62 days
2008-2009 Global Financial Crisis
  % Loss-71.4%-53.4%
  % Gain to Breakeven250.0%114.4%
  Time to Breakeven2065 days1085 days

Compare to CNK, AMC, MCS, EPR, REG

In The Past

Reading International's stock fell -21.3% during the 2025 US Tariff Shock. Such a loss loss requires a 27.1% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Reading International (RDI)

Reading International (RDI) is a diversified company primarily engaged in the ownership, development, and operation of entertainment and real property assets. The company operates across three key geographic regions: the United States, Australia, and New Zealand. Its business model is bifurcated into two core segments: Cinema Exhibition and Real Estate, allowing it to generate revenue from both direct consumer entertainment services and strategic property management.

The Cinema Exhibition segment focuses on providing cinematic entertainment through its network of multiplex cinemas. RDI operates these cinemas under various recognized brands, including Reading Cinemas, Angelika Film Center, Consolidated Theatres, State Cinema, Event Cinemas, and Rialto Cinemas. As of December 2020, this segment encompassed 63 cinemas with approximately 515 screens, primarily serving the general public and moviegoers seeking film experiences in its operational markets.

RDI's Real Estate segment is dedicated to developing, renting, and licensing a broad portfolio of retail, commercial, and live theater assets. This extensive property collection includes fee interests in two live theaters, the prominent 44 Union Square property, various cinema properties (owned as real estate rather than for exhibition), entertainment-themed centers, and office buildings. With ownership of approximately 8.9 million square feet of developed and undeveloped real estate, this segment primarily serves commercial tenants, businesses, and developers seeking prime locations for their operations.

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  • It's like AMC Theatres combined with a commercial real estate developer.
  • Think of it as Cinemark operating alongside a diversified real estate investment trust (REIT).

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  • Cinema Exhibition: Operating multiplex cinemas and film centers under various brands, providing film entertainment services to the public.
  • Real Estate Development and Management: Developing, renting, and licensing a diverse portfolio of real estate assets including retail, commercial, office, and live theater properties.

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Reading International (RDI) primarily sells to individuals through its Cinema Exhibition segment.

The major categories of individual customers it serves are:

  1. General Moviegoers: Individuals, couples, and families attending mainstream and independent films across its diverse portfolio of cinema brands, including Reading Cinemas, Consolidated Theatres, State Cinema, Event Cinemas, and Rialto Cinemas. These customers seek general entertainment and movie-watching experiences.
  2. Arthouse and Independent Film Enthusiasts: Patrons specifically drawn to the curated selection of independent, foreign, and specialized films offered by brands like the Angelika Film Center, who typically value unique cinematic experiences and artistic content.
  3. Live Entertainment Audiences: Individuals attending live performances, theatrical productions, concerts, and other special events hosted at the company's live theater assets and entertainment-themed centers.
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Ellen M. Cotter, Chief Executive Officer and President

Ellen M. Cotter joined Reading International in March 1998 and has served as Chief Executive Officer and President since January 8, 2016, following a period as interim CEO and President. Prior to her appointment, she spent over ten years as Chief Operating Officer of the company’s domestic cinema operations. Before joining Reading International, Ms. Cotter was a corporate attorney with the law firm White & Case in New York City for four years. She holds a Juris Doctor from Georgetown University Law Center and is a graduate of Smith College. Ms. Cotter also serves as a director of Cecelia Packing Corporation, a family-owned citrus grower, packer, and marketer.

Gilbert Avanes, Executive Vice President, Chief Financial Officer and Treasurer

Gilbert Avanes was appointed Executive Vice President, Chief Financial Officer, and Treasurer on November 5, 2019. He has been an employee of and consultant to Reading International since August 2007, serving as Interim Chief Financial Officer and Treasurer from January 2019 to November 2019. His previous roles within the company include Vice President of Financial Planning and Analysis and Senior Director of Financial Planning and Analysis.

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 was elected Chair of the Board on December 8, 2020. Since March 10, 2016, she has served as Executive Vice President-Real Estate Management and Development, overseeing the development, management, and leasing of the company’s real estate assets, including the 44 Union Square property. Prior to this, she was the owner and President of OBI, LLC, which managed Reading International’s live theatre operations and provided development services for its New York theatre and cinema properties. Ms. Cotter also served as President of Liberty Theaters, LLC. She is a former prosecutor for the Brooklyn District Attorney in New York and is a graduate of Georgetown University and Georgetown University Law Center.

Andrzej Matyczynski, Executive Vice President – Global Operations

Andrzej Matyczynski was appointed Executive Vice President – Global Operations on March 10, 2016. He previously served as Chief Financial Officer and Treasurer for Reading International from November 1999 until May 2015. Before joining the company, Mr. Matyczynski spent 20 years in various senior roles at Beckman Coulter Inc., a U.S.-based multi-national corporation. He holds a Master’s Degree in Business Administration from the University of Southern California.

Robert F. Smerling, President of US Cinemas

Robert F. Smerling has served as President of Reading International's domestic cinema operations since 1994, playing a role in the acquisition and development of all existing cinemas. Before joining Reading International, Mr. Smerling was the President of Loews Theaters, a wholly owned subsidiary of Sony, where he oversaw the operations of approximately 600 cinemas and the development of more than 25 new multiplex cinemas.

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Here are the key risks to Reading International (RDI):

  1. High Leverage, Debt Pressure, and Persistent Unprofitability

    Reading International faces significant financial challenges, primarily due to high debt levels and negative profitability. The company's net debt to EBITDA ratio is notably high, raising concerns about refinancing and interest costs, especially in a rising interest rate environment. Both operating margin and return on invested capital have remained negative, indicating struggles in covering fixed costs. As of September 30, 2025, the company reported negative stockholders' equity and a negative working capital position, underscoring constant pressure to manage short-term obligations. High interest bills have significantly weighed on the business, with interest payments exceeding EBITDA in some periods. The company is currently unprofitable and is not forecast to become profitable in the next three years.

  2. Decline in Cinema Attendance and Intense Competition from Streaming Services

    The cinema exhibition segment, which is a major part of Reading International's business, is highly vulnerable to declining movie theater attendance and the increasing competition from streaming services. The industry's revenue is heavily dependent on the release of appealing films and consumers' willingness to spend on discretionary entertainment. The COVID-19 pandemic significantly impacted cinemas, leading to closures and sustained changes in audience behavior, with a portion of audiences not returning to regular moviegoing. The rise of streaming has led to consumers being accustomed to shorter windows between theatrical release and home viewing, and overall cinema-going is increasingly viewed as a "treat" rather than a routine outing.

  3. Vulnerability to Macroeconomic Downturns and Shifting Real Estate Market Dynamics

    Both of Reading International's segments are susceptible to broader economic fluctuations. Cinema attendance is a discretionary expense, making it vulnerable during economic slowdowns. The real estate segment, which includes retail, commercial, and live theater assets, is also impacted by macroeconomic conditions such as recessions, which can lead to increased unemployment and businesses struggling to pay rent or terminating lease agreements, thereby increasing vacancy rates and reducing income for property owners. Furthermore, ongoing structural changes in the real estate market, such as the shift towards e-commerce impacting physical retail spaces, can affect property values and demand for their assets.

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  • The increasing prevalence of direct-to-streaming releases by major studios and the ongoing growth of subscription video-on-demand (SVOD) services, which offer a compelling alternative to theatrical viewing, directly threatens the cinema exhibition model by eroding the exclusive theatrical window and shifting consumer entertainment consumption habits.
  • The widespread adoption of remote and hybrid work models has created an emerging threat to demand for traditional commercial office space, potentially impacting occupancy rates and rental income for Reading International's office building assets.

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The addressable markets for Reading International's main products and services are sized as follows:

Cinema Exhibition Segment

  • United States: The U.S. movie market was approximately USD 23.44 billion in 2024. The U.S. movie theaters market is anticipated to reach USD 20.11 billion in 2026.
  • Australia: The Australian box office is forecast to exceed A$1 billion (approximately USD 650 million) in 2025.
  • New Zealand: New Zealand's Cinemas industry revenue is projected to be approximately NZ$270.1 million (approximately USD 162.06 million) in 2025-26.

Real Estate Segment (includes Retail, Commercial, and Live Theater Assets)

  • United States Commercial Real Estate: The U.S. commercial real estate market was valued at USD 22.5 trillion as of the fourth quarter of 2023 (total market value of assets).
  • United States Live Theater: The U.S. Performing Art Companies Market size was USD 47.04 billion in 2024.
  • Australia Real Estate (Commercial and Retail): The Australia Real Estate and Smart Retail Spaces Market is valued at USD 1,200 billion (based on a five-year historical analysis, likely representing total asset value). Commercial property transaction volumes in Australia reached A$49.8 billion (approximately USD 32.37 billion) in 2025. Retail investment volumes in Australia reached USD 11.3 billion in 2025.
  • Australia Live Theater: The Musical & Theatre Productions industry in Australia is projected to be A$3.2 billion (approximately USD 2.08 billion) in 2026.
  • New Zealand Commercial Real Estate (including retail and commercial): The total value of the commercial real estate market in New Zealand is anticipated to surpass NZ$400 billion (approximately USD 240 billion) in 2025.
  • New Zealand Live Theater: The Performing Arts Operation market size in New Zealand is NZ$253.8 million (approximately USD 152.28 million) in 2025.

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Reading International (RDI) is expected to experience future revenue growth driven by several key factors over the next 2-3 years:

Expected Drivers of Future Revenue Growth for Reading International (RDI)

  • Strategic Monetization and Development of Real Estate Assets: Reading International plans to drive revenue growth through the strategic monetization of its substantial real estate holdings, which includes selling non-core properties to reduce debt and free up capital for other investments. Furthermore, the development of key real estate projects, such as 44 Union Square in New York and Courtenay Central, is anticipated to generate significant revenue, with the U.S. Real Estate segment already showing a 35% increase in revenue in Q3 2025. This real estate development is considered a "unique, non-correlated growth driver" with "transformative potential" for the company.
  • Post-Pandemic Recovery and Growth in Cinema Attendance and Ticket Sales: The company anticipates a strong recovery and growth in its cinema exhibition segment, particularly in 2026, fueled by an "exciting film slate including major franchises." The cinema industry, while still recovering, is seeing "rebounding cinema attendance" which is expected to contribute to increased ticket and concession sales.
  • Enhancement of Cinema Offerings and Operational Efficiency: Reading International is focused on maximizing revenue from its existing cinema assets through "premium offerings, and digital enhancements." These improvements aim to enhance the customer experience, drive "improved per-visitor economics across all markets," and ultimately lead to higher revenue generated from their current cinema footprint.

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Here is a summary of Reading International's (RDI) capital allocation decisions over the last 3-5 years:

Share Repurchases

  • Reading International has not reported significant share repurchases over the last 3-5 years. The company's treasury shares remained constant at $(40,407) thousand in financial reports up to June 30, 2025.
  • As of the fourth quarter of 2022, share repurchases were deferred to preserve capital.

Share Issuance

  • Reading International has had minor share issuances, primarily related to employee incentive plans.
  • In 2024, 85,139 Restricted Stock Units (RSUs) and 52,360 RSUs (related to the 2022 Compensation Plan) vested, resulting in $1.6 million in compensation expense recognized during 2023 and 2024.
  • The company's additional paid-in capital increased from $157,751 thousand at December 31, 2024, to $158,696 thousand at June 30, 2025.

Outbound Investments

  • Reading International made several strategic asset sales to reduce debt and improve liquidity.
  • In January 2025, the company sold its Courtenay Central property in Wellington, New Zealand, for NZ$38 million (approximately US$23.5 million).
  • In the second quarter of 2025, Reading International sold its Cannon Park property in Australia, generating a gain of $1.8 million.
  • In early 2024, the administrative building in Culver City, California, was sold, freeing up approximately $1.3 million in cash after paying off associated debt.

Capital Expenditures

  • In 2024, capital expenditures totaled $5.5 million.
  • For 2023, the company invested $33.9 million in capital improvements.
  • In 2022, Reading International allocated $6.3 million to upgrade and expand its cinema assets and $2.6 million for non-cinema real estate.
  • For 2025, the highest priority for capital allocation is debt reduction, but plans include upgrading at least four theaters: one in Australia, two in the U.S., and one in New Zealand.

Better Bets vs. Reading International (RDI)

Peer Outperformance in Movies & Entertainment

RDI has trailed 64% of its 22 Movies & Entertainment peers over 5Y. Among the peers that beat it is DIS. Movies & Entertainment ranks 3rd of 9 industries in Communication Services by median 5Y return. That makes it one of the strongest corners of the sector.
Share of Movies & Entertainment constituents that RDI has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
59%
of 27 industry peers · 23.2% return
3Y
28%
of 25 industry peers · -11.4% return
5Y
36%
of 22 industry peers · -65.4% return
Movies & Entertainment peers with revenue growth within 4pp of RDI's that beat it on at least 2 of 3 windows, and by at least 20pp over 5Y. Growth is matched by construction, so the gap is largely a re-rating gap. The multiple column is the context for it.
Ticker Name Rev Growth 3Y Avg P/E 1Y3Y5Y 5Y Gap
RDI Reading International 0.9% -3.0x 23.2%-11.4%-65.4% —
DIS Walt Disney 4.0% 24.0x 8.3%44.2%-28.0% +37pp
Price returns, excluding dividends. P/E shown for context only and not used for matching.
Median price return by industry across the Communication Services sector, ranked by 5Y. Movies & Entertainment is RDI's own industry. Use this to see which corners of the sector have carried the returns.
Industry Names 1Y med3Y med5Y med Top 3 by 5Y
Wireless Telecommunication Services 3 -8.2%13.5%36.5% ECHO 280% · TMUS 36%
Publishing 5 19.3%9.4%12.5% NYT 37% · NWSA 36%
Movies & Entertainment ← 23 17.3%48.9%-28.0% IMAX 163% · CNK 102% · BATRA 83%
Integrated Telecommunication Services 21 -14.5%11.9%-28.3% GSAT 234% · AD 122% · TDS 111%
Interactive Media & Services 33 -28.1%-30.1%-68.6% GOOGL 97% · META 89% · CARG 2%
Broadcasting 14 -7.0%-19.9%-70.1% FOXA 79% · NXST 35% · SIRI -37%
Interactive Home Entertainment 8 -40.8%-58.4%-70.2% TTWO 8% · RBLX -40% · PINS -51%
Alternative Carriers 4 -33.4%16.5%-70.4% IRDM 11% · LUMN -64%
Advertising 18 -30.7%-7.3%-74.1% APP 176% · OMC 55% · STGW 12%
Median of constituents with a full price history over each window. Top names are limited to companies above $2B market cap.

Latest Trefis Analyses

TitleDate
0DASHBOARDS 
1Reading International Earnings Notes12/16/2025
Title
0ARTICLES

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

RDICNKAMCMCSEPRREGMedian
NameReading .Cinemark AMC Ente.Marcus EPR Prop.Regency . 
Mkt Price1.6641.093.4828.0660.7076.8634.58
Mkt Cap0.04.72.50.94.614.13.6
Rev LTM2143,5655,2318177191,5851,201
Op Inc LTM353927446418592346
FCF LTM5341-2277473819209
FCF 3Y Avg-2282-26432422776157
CFO LTM5624219126473819346
CFO 3Y Avg-2482-25100422776261

Growth & Margins

RDICNKAMCMCSEPRREGMedian
NameReading .Cinemark AMC Ente.Marcus EPR Prop.Regency . 
Rev Chg LTM-2.2%13.1%6.4%8.5%8.3%7.8%8.0%
Rev Chg 3Y Avg0.9%5.9%7.1%3.9%2.9%8.6%4.9%
Rev Chg Q10.8%23.5%14.2%13.1%11.6%8.3%12.4%
QoQ Delta Rev Chg LTM3.1%6.0%4.0%3.5%2.8%2.0%3.3%
Op Inc Chg LTM190.3%46.9%151.1%149.3%14.7%11.7%98.1%
Op Inc Chg 3Y Avg92.4%18.3%140.1%34.3%2.7%7.9%26.3%
Op Mgn LTM1.2%15.1%5.2%5.7%58.2%37.3%10.4%
Op Mgn 3Y Avg-3.5%12.3%1.8%3.6%56.4%36.1%8.0%
QoQ Delta Op Mgn LTM2.2%1.7%2.5%0.8%0.9%-0.2%1.3%
CFO/Rev LTM2.5%17.5%4.2%15.4%65.9%51.7%16.5%
CFO/Rev 3Y Avg-1.0%14.9%-0.8%13.0%62.6%52.7%14.0%
FCF/Rev LTM2.5%9.6%-0.4%9.4%65.9%51.7%9.5%
FCF/Rev 3Y Avg-1.0%8.8%-5.7%4.1%62.6%52.7%6.4%

Valuation

RDICNKAMCMCSEPRREGMedian
NameReading .Cinemark AMC Ente.Marcus EPR Prop.Regency . 
Mkt Cap0.04.72.50.94.614.13.6
P/S0.21.30.51.16.58.91.2
P/Op Inc14.98.79.118.811.123.813.0
P/EBIT6.28.6236.722.710.618.214.4
P/E-3.016.3-4.534.515.725.716.0
P/CFO7.27.611.56.99.817.28.7
Total Yield-32.9%7.2%-21.8%4.0%12.9%8.6%5.6%
Dividend Yield0.0%0.9%0.0%1.1%6.5%4.7%1.0%
FCF Yield 3Y Avg-5.3%7.8%-19.0%4.4%10.2%6.0%5.2%
D/E9.40.63.10.40.80.40.7
Net D/E9.30.52.80.30.80.40.6

Returns

RDICNKAMCMCSEPRREGMedian
NameReading .Cinemark AMC Ente.Marcus EPR Prop.Regency . 
1M Rtn-10.3%14.2%24.6%5.3%9.8%7.8%8.8%
3M Rtn10.7%9.1%30.1%-8.6%0.9%-1.8%5.0%
6M Rtn46.9%49.0%111.9%57.1%11.2%-0.9%48.0%
12M Rtn22.1%55.5%38.4%95.6%30.9%15.8%34.7%
3Y Rtn-12.2%155.2%-67.6%90.3%60.3%38.2%49.3%
1M Excs Rtn-6.1%19.7%21.0%9.3%13.6%10.8%12.2%
3M Excs Rtn8.9%10.4%37.0%-6.3%2.4%2.7%5.8%
6M Excs Rtn44.2%46.2%109.2%54.3%8.4%-3.7%45.2%
12M Excs Rtn10.8%44.9%24.4%85.4%18.6%5.7%21.5%
3Y Excs Rtn-90.7%73.6%-145.7%10.6%-0.8%-32.7%-16.8%

Comparison Analyses

null

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Cinema189195208191127
Real estate1820201713
Inter-segment revenue-4-5-5-5-1
Total203211223203139


Operating Income by Segment
$ Mil20252024202320222021
Real estate6541-5
Cinema4-30-12-19
Depreciation and amortization expense-0-0-1-1-1
General and administrative expense-14-16-15-16-17
Total-5-14-12-28-42


Assets by Segment
$ Mil20252024202320222021
Cinema184191230268316
Real estate176207236247257
Corporate74736772114
Total435471533587688


Price Behavior

Price Behavior
Market Price$1.68 
Market Cap ($ Bil)0.0 
First Trading Date03/17/1992 
Distance from 52W High-28.4% 
   50 Days200 Days
DMA Price$1.92$1.39
DMA Trendupup
Distance from DMA-12.8%20.5%
 3M1YR
Volatility63.8%50.1%
Downside Capture95.7551.83
Upside Capture144.8667.15
Correlation (S&P 500)19.0%10.8%
RDI Betas & Captures as of 10/31/2026

 1M2M3M6M1Y3Y
Beta1.051.290.790.470.440.45
Up Beta-9.25-1.92-1.86-0.520.070.46
Down Beta1.591.922.890.800.610.65
Up Capture30%69%122%111%48%8%
Bmk +ve Days12182862130427
Stock +ve Days10193160109329
Down Capture204%242%64%16%55%66%
Bmk -ve Days10253664121325
Stock -ve Days11233055119350

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with RDI
RDI22.4%50.1%0.56-
Sector ETF (XLC)-6.8%16.7%-0.6010.1%
Equity (SPY)13.2%12.9%0.6811.8%
Gold (GLD)1.0%28.8%0.038.7%
Commodities (DBC)35.9%21.2%1.34-2.0%
Real Estate (VNQ)14.3%14.1%0.70-1.9%
Bitcoin (BTCUSD)-28.2%43.4%-0.6512.0%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with RDI
RDI-18.4%49.2%-0.25-
Sector ETF (XLC)6.7%21.1%0.2318.4%
Equity (SPY)12.5%17.2%0.5518.8%
Gold (GLD)17.3%19.1%0.736.7%
Commodities (DBC)8.0%19.6%0.296.3%
Real Estate (VNQ)1.8%18.9%-0.0118.4%
Bitcoin (BTCUSD)5.5%51.5%0.299.1%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with RDI
RDI-18.5%49.4%-0.23-
Sector ETF (XLC)8.6%22.1%0.4221.2%
Equity (SPY)15.4%18.0%0.7326.1%
Gold (GLD)11.9%16.5%0.59-2.5%
Commodities (DBC)7.4%18.1%0.3312.8%
Real Estate (VNQ)5.7%20.7%0.2328.0%
Bitcoin (BTCUSD)61.0%66.2%1.014.7%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date10152026
Short Interest: Shares Quantity0.0 Mil
Short Interest: % Change Since 9302026114.3%
Average Daily Volume0.0 Mil
Days-to-Cover Short Interest1.6 days
Basic Shares Quantity22.8 Mil
Short % of Basic Shares0.2%

Earnings Returns History

Updated 9/17/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/14/20268.7%14.9%26.1%
5/15/2026-3.8%-0.9%17.9%
11/14/2025-3.1%-7.1%-14.2%
8/14/2025-2.8%-4.2%4.9%
5/16/2025-0.8%7.5%1.5%
11/14/2024-3.4%-6.9%4.1%
8/14/2024-2.8%23.9%26.8%
5/15/20244.2%3.6%-11.9%
...
SUMMARY STATS   
# Positive8710
# Negative11129
Median Positive2.3%6.7%6.8%
Median Negative-3.1%-3.2%-11.9%
Max Positive8.7%23.9%26.8%
Max Negative-10.9%-7.6%-17.0%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/14/20268.7%14.9%26.1%
5/15/2026-3.8%-0.9%17.9%
11/14/2025-3.1%-7.1%-14.2%
8/14/2025-2.8%-4.2%4.9%
5/16/2025-0.8%7.5%1.5%
11/14/2024-3.4%-6.9%4.1%
8/14/2024-2.8%23.9%26.8%
5/15/20244.2%3.6%-11.9%
11/15/20231.4%-0.6%3.3%
8/14/2023-5.2%-7.6%-12.9%
5/15/2023-4.6%-4.9%-9.8%
11/9/20222.7%6.7%-10.3%
8/9/2022-1.1%-0.4%-17.0%
5/10/2022-0.6%-2.3%3.4%
3/16/20221.8%-0.9%-3.4%
11/9/20210.0%0.0%-13.8%
8/10/20213.6%-0.8%-6.5%
5/17/20211.8%0.7%8.7%
11/10/2020-10.9%-7.1%14.1%
SUMMARY STATS   
# Positive8710
# Negative11129
Median Positive2.3%6.7%6.8%
Median Negative-3.1%-3.2%-11.9%
Max Positive8.7%23.9%26.8%
Max Negative-10.9%-7.6%-17.0%

SEC Filings

Expand for More
Report DateFiling DateFiling
06/30/202608/14/202610-Q
03/31/202605/15/202610-Q
12/31/202503/31/202610-K
09/30/202511/14/202510-Q
06/30/202508/14/202510-Q
03/31/202505/15/202510-Q
12/31/202403/31/202510-K
09/30/202411/14/202410-Q
06/30/202408/14/202410-Q
03/31/202405/15/202410-Q
12/31/202303/29/202410-K
09/30/202311/15/202310-Q
06/30/202308/14/202310-Q
03/31/202305/15/202310-Q
12/31/202203/31/202310-K
09/30/202211/09/202210-Q
Collapse to Preview
Report DateFiling DateFiling
06/30/202608/14/202610-Q
03/31/202605/15/202610-Q
12/31/202503/31/202610-K
09/30/202511/14/202510-Q
06/30/202508/14/202510-Q
03/31/202505/15/202510-Q
12/31/202403/31/202510-K
09/30/202411/14/202410-Q
06/30/202408/14/202410-Q
03/31/202405/15/202410-Q
12/31/202303/29/202410-K
09/30/202311/15/202310-Q
06/30/202308/14/202310-Q
03/31/202305/15/202310-Q
12/31/202203/31/202310-K
09/30/202211/09/202210-Q
06/30/202208/09/202210-Q
03/31/202205/10/202210-Q
12/31/202103/16/202210-K
09/30/202111/09/202110-Q
06/30/202108/09/202110-Q
03/31/202105/17/202110-Q
12/31/202003/31/202110-K
09/30/202011/09/202010-Q
06/30/202008/10/202010-Q
03/31/202006/25/202010-Q
12/31/201903/16/202010-K
09/30/201911/12/201910-Q

Insider Activity

Updated 4/29/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Lucas, Steven JohnVP, Controller & CAODirectSell62320251.3440,00053,63925,426Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Lucas, Steven JohnVP, Controller & CAODirectSell62320251.3440,00053,63925,426Form

Industry Resources

Communication Services Resources
Variety
The Hollywood Reporter
Adweek
Movies & Entertainment Resources
Deadline
IndieWire
Screen Daily
Core Cache Last Updated: 11/4/2026