Reading International Inc Class B Common Stock (RDIB)

FairStock Score: 32/100 — RISKY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I approach this as a Graham-style bargain hunter: I want an understandable business, durable earnings, and a price that discounts trouble. Reading International is understandable: cinemas plus real estate in the U.S., Australia, and New Zealand. But the record is poor. In fiscal 2023, the year ended 2023-12-31, revenue was $222.7M and net loss was $30.7M, or -$1.38 per diluted share. In fiscal 2024, revenue was $210.5M and net loss $35.3M. In fiscal 2025, revenue was $203.0M and net loss $14.1M, or -$0.62 per share. The Lynch category is none because of losses in each of the last four years. There was a bright spot: in fiscal Q2 2026, the quarter ended 2026-06-30, revenue was $66.9M and net income $2.3M, or $0.10 per diluted share. Yet fiscal Q1 2026, the quarter ended 2026-03-31, lost $8.1M on $45.1M of revenue. Trailing free cash flow is $3.7M, a 1.2% FCF yield. At the 2026-10-13 close of $12.60, with a $300.4M market cap, FairStock calculations show P/E -22.91, EV/EBITDA 44.08, ROCE 0.37%, Piotroski 3/9, Altman Z -0.21, and a FairStock Score of 32/100. Those are not the marks of a safe, high-return enterprise. The cinemas are competitive and capital-intensive; the real estate may have value, but I cannot verify a discount without P/B or appraisal data. With declining revenue and thin cash generation, I see a speculative turnaround or asset story, not a classic Buffett bargain. I would need proof of durable profits and a better price before calling it a value investment.

In plain English: Reading International runs movie theaters and owns real estate in the U.S., Australia, and New Zealand. The company has lost money in each of the last several years, though it earned a small profit in the most recent reported quarter, so the business looks weak overall. At $12.60, the shares do not look clearly cheap against those weak earnings and thin cash flow.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer