A Business at a Glance
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Reservoir Media, Inc.
RSVR
$687M
Mkt Cap
$10.63
+1.24%
Reservoir Media, Inc. (RSVR) has a current P/E ratio of 106.3, compared to its historical median P/E of 47.3. The stock is currently considered Expensive based on its historical valuation range.
Reservoir Media, Inc. (RSVR) has a 5-year average return on invested capital (ROIC) of 3.2%. This is below average and may indicate limited pricing power.
Reservoir Media, Inc. (RSVR) has a market capitalization of $697M. It is classified as a small-cap stock.
Reservoir Media, Inc. (RSVR) does not currently pay a regular dividend.
Based on historical P/E analysis, Reservoir Media, Inc. (RSVR) appears expensive. The current P/E of 106.3 is 125% above its historical median of 47.3. The estimated fair value CAGR (P/E method) is -26.2%.
Reservoir Media, Inc. (RSVR) operates in the Services-Amusement & Recreation Services industry, within the Consumer Cyclical sector.
Reservoir Media, Inc. (RSVR) reported annual revenue of $159 million in its most recent fiscal year, based on SEC EDGAR filings.
Our Company Reservoir Media, Inc., together with its wholly-owned subsidiaries (the “Company”, “we”, “our”, “us” and “Reservoir”), is one of the world’s leading independent music companies. We operate a music publishing business, a recorded music business, a management business and a rights management entity in the Middle East. We have two reportable segments—Music Publishing and Recorded Music. We represent copyrights and master recordings dating back as far as the early 1900s through today, with hundreds of #1 releases worldwide. Our M&A practice is committed to both catalog acquisition and strategic expansion of the roster. Our Music Publishing business contributed approximately $107.4 million to our revenues for the year ended March 31, 2025, representing approximately 68% of our revenues. The publishing catalog includes historic compositions written and performed by greats like Joni Mitchell, The Isley Brothers, Sonny Rollins, Louis Prima, and John Denver.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 252M | 159M | 145M | 122M | 108M | 80M |
| Net Income | 8.3M | 7.7M | 645K | 2.5M | 12M | 5.9M |
| EPS | $0.13 | $0.12 | $0.01 | $0.04 | $0.22 | $0.05 |
| Free Cash Flow | 75M | 45M | 36M | 31M | 12M | 15M |
| ROIC | 4.8% | 3.9% | 2.7% | 2.0% | 2.6% | 4.6% |
| Gross Margin | - | 63.8% | 61.7% | 60.8% | 59.0% | 59.1% |
| Debt/Equity | 1.21 | 1.06 | 0.94 | 0.89 | 0.78 | 0.63 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 53M | 35M | 25M | 21M | 19M | 18M |
| Operating Margin | 21.0% | 22.1% | 17.0% | 17.2% | 17.9% | 22.8% |
| ROE | 2.2% | 2.2% | 0.2% | 0.7% | 3.5% | 2.3% |
| Shares Outstanding | 66M | 65M | 64M | 63M | 54M | 112M |
| Metric | |||||||
|---|---|---|---|---|---|---|---|
| Income Statement | |||||||
| Revenue | 62M | 80M | 108M | 122M | 145M | 159M | 252M |
| Gross Margin | 56.3% | 59.1% | 59.0% | 60.8% | 61.7% | 63.8% | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 20M | 15M | 25M | 31M | 40M | 40M | 40M |
| EBIT | 15M | 18M | 19M | 21M | 25M | 35M | 53M |
| Op. Margin | 23.6% | 22.8% | 17.9% | 17.2% | 17.0% | 22.1% | 21.0% |
| Net Income | 9.5M | 5.9M | 12M | 2.5M | 645K | 7.7M | 8.3M |
| Net Margin | 15.2% | 7.3% | 11.0% | 2.1% | 0.4% | 4.9% | 3.3% |
| Non-Recurring | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||||
| ROIC | 9.3% | 4.6% | 2.6% | 2.0% | 2.7% | 3.9% | 4.8% |
| ROE | 5.6% | 2.3% | 3.5% | 0.7% | 0.2% | 2.2% | 2.2% |
| ROA | 2.4% | 1.1% | 1.8% | 0.4% | 0.1% | 0.9% | 0.9% |
| Cash Flow | |||||||
| Op. Cash Flow | 11M | 15M | 12M | 31M | 36M | 45M | 76M |
| Free Cash Flow | -95M | 15M | 12M | 31M | 36M | 45M | 75M |
| Owner Earnings | 2.7M | 535K | -9.4M | 5.9M | 7.8M | 15M | 45M |
| CapEx | 106M | 80K | 203K | 406K | 226K | 82K | 471K |
| Maint. CapEx | 8.4M | 14M | 19M | 22M | 25M | 26M | 26M |
| Growth CapEx | 98M | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 8.4M | 14M | 19M | 22M | 25M | 26M | 26M |
| CapEx/OCF | N/A | 0.5% | 1.6% | 1.3% | 0.6% | 0.2% | 0.6% |
| Capital Allocation | |||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | N/A | 103K | 2.9M | 3.2M | 3.4M | 4.4M | 4.4M |
| Debt Repayment | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance Sheet | |||||||
| Net Debt | N/A | 203M | 252M | 297M | 313M | 367M | 432M |
| Cash & Equiv. | 58M | 9.2M | 18M | 15M | 18M | 21M | 21M |
| Long-Term Debt | N/A | 212M | 270M | 311M | 331M | 388M | 452M |
| Debt/Equity | 1.33 | 0.63 | 0.78 | 0.89 | 0.94 | 1.06 | 1.21 |
| Interest Coverage | N/A | 2.0 | 1.8 | 1.4 | 1.2 | 1.6 | 1.6 |
| Equity | 170M | 339M | 346M | 348M | 353M | 365M | 374M |
| Total Assets | 396M | 629M | 684M | 754M | 784M | 865M | 942M |
| Total Liabilities | 225M | 290M | 337M | 404M | 429M | 499M | 567M |
| Intangibles | 284M | 535M | 571M | 617M | 640M | 720M | 797M |
| Retained Earnings | -10M | 3.3M | 12M | 15M | 15M | 23M | 27M |
| Working Capital | N/A | 14M | 18M | 12M | 11M | 13M | 12M |
| Current Assets | N/A | 39M | 59M | 67M | 71M | 79M | 78M |
| Current Liabilities | N/A | 25M | 41M | 55M | 60M | 66M | 66M |
| Per Share Data | |||||||
| EPS | 0.06 | 0.05 | 0.22 | 0.04 | 0.01 | 0.12 | 0.13 |
| Owner EPS | 0.02 | 0.00 | -0.17 | 0.09 | 0.12 | 0.23 | 0.69 |
| Book Value | 1.12 | 3.02 | 6.41 | 5.49 | 5.47 | 5.65 | 5.70 |
| Cash Flow/Share | 0.07 | 0.13 | 0.23 | 0.49 | 0.56 | 0.70 | 0.53 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 151.7M | 112.2M | 54.1M | 63.5M | 64.5M | 64.6M | 65.6M |
| Valuation | |||||||
| P/E Ratio | N/A | 47.3 | 45.3 | 152.0 | 793.0 | 60.4 | 81.6 |
| P/FCF | N/A | 76.2 | 43.9 | 12.5 | 14.2 | 10.4 | 9.3 |
| EV/EBIT | N/A | 35.0 | 43.6 | 32.4 | 33.5 | 23.8 | 21.3 |
| Price/Book | N/A | 2.3 | 1.7 | 1.1 | 1.4 | 1.3 | 1.9 |
| Price/Sales | N/A | 5.7 | 4.8 | 3.5 | 2.8 | 3.3 | 2.8 |
| FCF Yield | N/A | 3.3% | 2.1% | 8.0% | 7.0% | 9.7% | 10.8% |
| Market Cap | N/A | 438M | 593M | 386M | 511M | 468M | 697M |
| Avg. Price | N/A | 10.43 | 8.68 | 6.69 | 6.28 | 8.07 | 10.63 |
| Year-End Price | N/A | 9.93 | 9.97 | 6.08 | 7.93 | 7.25 | 10.63 |
Reservoir Media, Inc. passes 3 of 9 quality checks, indicating weak fundamentals.
Reservoir Media, Inc. trades at 106.3x trailing earnings, compared to its 15-year median P/E of 47.3x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 13.9x vs a median of 14.2x. The company's 5-year average ROIC is 3.2% with a gross margin of 60.9%. At current prices, the estimated annualized return to fair value is +14.0%.
Reservoir Media, Inc. (RSVR) has a net profit margin of 4.9%. This is a modest margin.
Reservoir Media, Inc. (RSVR) generated $45 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Reservoir Media, Inc. (RSVR) has a debt-to-equity ratio of 1.06. This indicates moderate leverage.
Reservoir Media, Inc. (RSVR) reported earnings per share (EPS) of $0.12 in its most recent fiscal year.
Reservoir Media, Inc. (RSVR) has a return on equity (ROE) of 2.2%. This indicates moderate shareholder returns.
Reservoir Media, Inc. (RSVR) has a 5-year average gross margin of 60.9%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 6 years of financial data for Reservoir Media, Inc. (RSVR), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Reservoir Media, Inc. (RSVR) has a book value per share of $5.65, based on its most recent annual SEC filing.