Financial leverage remains within strategic bounds with a debt-to-equity ratio of 1.22, though the concentration of goodwill at $788.7 million warrants close monitoring for potential impairment.
| Total Current Assets | 92.54M | 79.28M | 70.91M | 66.81M | 59.44M | 39.27M | 82.27M | 33.13M | 33.13M |
| Cash & Short-Term Investments | 25.93M | 21.39M | 18.13M | 14.9M | 17.81M | 9.21M | 58.24M | 9.03M | 9.03M |
| Cash Only | 25.93M | 21.39M | 18.13M | 14.9M | 17.81M | 9.21M | 58.24M | 9.03M | 9.03M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 40.83M | 37.85M | 33.23M | 31.26M | 25.21M | 15.81M | 9.75M | 9.21M | 9.21M |
| Days Sales Outstanding | 84.84 | 87.05 | 83.72 | 93.29 | 85.33 | 71.93 | - | 68.3 | 68.3 |
| Inventory | 0 | 4.87M | 6.3M | 5.46M | 4.04M | 1.41M | 431.03K | 227.1K | 227.1K |
| Days Inventory Outstanding | - | 30.93 | 41.45 | 41.52 | 33.38 | 15.62 | - | 4.03 | 4.03 |
| Other Current Assets | 9.41M | 0 | 0 | 0 | 0 | 0 | 13.85M | 14.66M | 14.66M |
| Total Non-Current Assets | 857.14M | 785.84M | 712.63M | 687.28M | 624.83M | 422.59M | 314.32M | 185.33M | 185.33M |
| Property, Plant & Equipment | 8.55M | 6.36M | 7.54M | 7.92M | 342.08K | 321.77K | 602.98K | 245.92K | 245.92K |
| Fixed Asset Turnover | 20.54x | 24.97x | 19.21x | 15.43x | 315.25x | 249.39x | - | 200.19x | 200.19x |
| Goodwill | 0 | 402.07K | 402.07K | 402.07K | 402.07K | 0 | 402.07K | 0 | 0 |
| Intangible Assets | 788.74M | 719.67M | 640.22M | 617.4M | 571.38M | 391.15M | 285.11M | 164.65M | 164.65M |
| Long-Term Investments | 2.83M | 1.1M | 1.45M | 2.31M | 3.91M | 1.59M | 1.5M | 1.47M | 1.47M |
| Other Non-Current Assets | 57.02M | 58.31M | 63.01M | 59.24M | 48.79M | 29.52M | 26.71M | 18.96M | 18.96M |
| Total Assets | 949.68M | 865.13M | 783.53M | 754.08M | 684.27M | 461.86M | 396.59M | 218.47M | 218.47M |
| Asset Turnover | 0.18x | 0.18x | 0.18x | 0.16x | 0.16x | 0.17x | - | 0.23x | 0.23x |
| Asset Growth % | 9.77% | 10.41% | 3.91% | 10.2% | 48.16% | 16.46% | 81.54% | - | - |
| Total Current Liabilities | 65.54M | 65.84M | 60.37M | 54.55M | 41.06M | 25.38M | 23.44M | 14.35M | 14.35M |
| Accounts Payable | 4.12M | 5.39M | 9.02M | 6.68M | 4.44M | 3.32M | 876.14K | 2.09M | 2.09M |
| Days Payables Outstanding | 24.24 | 34.29 | 59.32 | 50.81 | 36.65 | 36.85 | - | 37.07 | 37.07 |
| Short-Term Debt | 0 | 0 | 0 | 0 | 0 | 1M | 1M | 823.47K | 823.47K |
| Deferred Revenue (Current) | 2.47M | 1.89M | 1.16M | 2.15M | 1.1M | 1.34M | 0 | 0 | 0 |
| Other Current Liabilities | 55.73M | 7.95M | 7.31M | 10.58M | 12.27M | 2.62M | 7.86M | 2.39M | 2.39M |
| Current Ratio | 1.41x | 1.20x | 1.17x | 1.22x | 1.45x | 1.55x | 3.51x | 2.31x | 2.31x |
| Quick Ratio | 1.41x | 1.13x | 1.07x | 1.12x | 1.35x | 1.49x | 3.49x | 2.29x | 2.29x |
| Cash Conversion Cycle | - | 83.69 | 65.86 | 84 | 82.06 | 50.7 | - | 35.26 | 35.26 |
| Total Non-Current Liabilities | 505.57M | 433.09M | 368.68M | 349.87M | 295.75M | 242.11M | 202.06M | 121.86M | 121.86M |
| Long-Term Debt | 455.71M | 388.13M | 330.79M | 311.49M | 269.86M | 211.53M | 179.34M | 116.61M | 116.61M |
| Capital Lease Obligations | 7.45M | 5.72M | 6.72M | 7.07M | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 41.79M | 38.23M | 30.47M | 30.53M | 24.88M | 19.27M | 0 | 0 | 0 |
| Other Non-Current Liabilities | 634.69K | 1M | 694.08K | 785.11K | 1.01M | 11.31M | 22.72M | 5.25M | 5.25M |
| Total Liabilities | 571.11M | 498.93M | 429.05M | 404.42M | 336.82M | 267.49M | 225.5M | 136.21M | 136.21M |
| Total Debt | 463.15M | 393.86M | 337.51M | 318.56M | 269.86M | 212.53M | 180.34M | 117.43M | 117.43M |
| Net Debt | 437.22M | 372.47M | 319.38M | 303.66M | 252.04M | 203.32M | 122.1M | 108.4M | 108.4M |
| Debt / Equity | 1.22x | 1.08x | 0.95x | 0.91x | 0.78x | 1.09x | 1.05x | 1.43x | 1.43x |
| Debt / EBITDA | 6.71x | 6.42x | 6.81x | 7.39x | 7.03x | 6.56x | - | 5.88x | 5.88x |
| Net Debt / EBITDA | 6.34x | 6.07x | 6.44x | 7.04x | 6.57x | 6.27x | - | 5.43x | 5.43x |
| Interest Coverage | 1.42x | 1.45x | 1.06x | 1.57x | 2.60x | 2.28x | - | - | - |
| Total Equity | 378.56M | 366.2M | 354.48M | 349.66M | 347.45M | 194.37M | 171.09M | 82.25M | 82.25M |
| Equity Growth % | 3.38% | 3.3% | 1.38% | 0.64% | 78.76% | 13.61% | 108.01% | - | - |
| Book Value per Share | 5.71 | 5.55 | 5.43 | 5.39 | 5.94 | 6.81 | 874.08 | 656.81 | 656.81 |
| Total Shareholders' Equity | 377.72M | 364.88M | 352.99M | 348.36M | 346.39M | 193.36M | 170.13M | 82.25M | 82.25M |
| Common Stock | 6.56K | 6.52K | 6.48K | 6.44K | 6.42K | 2.85K | 1 | 0 | 0 |
| Retained Earnings | 31.45M | 23.15M | 15.4M | 14.75M | 12.21M | -863.11K | -9.54M | -19.6M | -19.6M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -670.77K | -2.42M | -3.8M | -4.86M | -1.2M | 2.1M | -4.39M | -2.4M | -2.4M |
| Minority Interest | 845.04K | 1.32M | 1.49M | 1.3M | 1.06M | 1.01M | 959.02K | 0 | 0 |
Catalog acquisition cost inflation
As reported in recent financial statements, Reservoir Media has grown total assets from $787.3 million in 2024Q3 to $949.7 million by 2026Q4, a trend that suggests a deliberate strategy of scaling the catalog portfolio to capture long-term royalty streams despite the associated increase in leverage.
The consistent upward trajectory in total assets reflects the company's active acquisition strategy, which is the primary engine for its revenue growth. Investors should monitor whether this asset expansion continues to yield accretive returns on invested capital or if the pace of growth begins to outstrip the company's ability to integrate and monetize these new rights effectively.
Based on the provided quarterly data, Reservoir Media's debt-to-equity ratio has risen from 0.99 in 2024Q3 to 1.22 in 2026Q4, indicating that while the company is utilizing debt to fund its expansion, it maintains a disciplined capital structure relative to industry peers with significantly higher leverage profiles.
The increase in total debt to $463.2 million appears to be a calculated move to finance catalog acquisitions rather than a sign of operational distress. This moderate leverage suggests that the company retains sufficient balance sheet flexibility to pursue further opportunities, provided that interest coverage remains stable in the current rate environment.
According to the latest balance sheet figures, goodwill and intangible assets account for approximately 83% of total assets as of 2026Q4, highlighting a business model that is almost entirely dependent on the valuation and performance of its acquired music rights rather than physical infrastructure or equipment.
The heavy concentration in intangibles underscores the importance of accurate catalog valuation and the risk of potential impairment if royalty streams underperform expectations. Because PPE remains negligible at $8.6 million, the company's asset quality is essentially a proxy for the durability and longevity of its underlying music copyrights.
As evidenced by the 2026Q4 current ratio of 1.41, Reservoir Media maintains a sufficient liquidity buffer to manage its short-term obligations, with cash balances showing modest fluctuations that appear consistent with the timing of royalty distributions and periodic debt service requirements across the reported ten-quarter period.
The current ratio suggests that the company is not facing immediate liquidity constraints, which is critical given the lumpy nature of its cash inflows. However, the relatively low cash balance of $25.9 million relative to its total debt load warrants ongoing monitoring to ensure that working capital needs do not necessitate further dilutive financing.
Based on the reported figures, the surge in goodwill from negligible levels in 2024Q4 to $788.7 million in 2026Q4 represents a significant non-obvious risk, as it suggests that a large portion of the company's book value is tied to acquisition premiums that may be vulnerable to future write-downs.
This rapid accumulation of goodwill indicates that Reservoir has been paying premiums over the fair value of the assets it acquires, which could lead to earnings volatility if those assets fail to meet projected royalty growth targets. Investors should be wary of the potential for future impairment charges that could negatively impact equity value without necessarily reflecting a change in the underlying cash-generating capability of the catalogs.
Quick answers to the most common questions about buying RSVR stock.
As of 2026, Reservoir Media, Inc. (RSVR) had total assets of $949.7M including $92.5M in current assets.
Reservoir Media, Inc. (RSVR) carries total debt of $463.2M, offset by $25.9M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Reservoir Media, Inc. (RSVR) has total shareholders' equity (book value) of $377.7M ($5.71 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Reservoir Media, Inc. (RSVR) reported a current ratio of 1.41x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.