Rimini Street, Inc. (RMNI) intrinsic value & 10-year financials
Rimini Street, Inc. (RMNI) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 10 fiscal years revenue grew 11.3% a year to $421.5M, with an average return on invested capital of -17.2%.
- Graham intrinsic value
- —
- Share price (Oct 17, 2026)
- $4.01
- Market cap
- $378.9M
- Revenue (FY2025)
- $421.5M
- Revenue growth (10-yr CAGR)
- 11.3%
- ROIC (10-yr avg)
- -17.2%
- Free cash flow (FY2025)
- $55.6M
RMNI 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $421.5M | $37.1M | $0.39 | $55.6M | 14.2% | -63.0% |
| FY2024 | $428.8M | -$36.3M | -$0.40 | -$42.2M | -7.5% | 44.3% |
| FY2023 | $431.5M | $26.1M | $0.29 | $5.3M | 10.1% | -30.9% |
| FY2022 | $409.7M | -$2.5M | -$0.03 | $30.6M | 2.0% | -4.0% |
| FY2021 | $374.4M | $75.2M | $0.51 | $64.8M | 7.2% | -14.3% |
| FY2020 | $326.8M | $13.0M | -$0.21 | $40.6M | 5.5% | -5.0% |
| FY2019 | $281.1M | $17.5M | -$0.06 | $18.5M | 7.9% | -7.0% |
| FY2018 | $253.5M | -$68.0M | — | $21.3M | 10.0% | -11.6% |
| FY2017 | $214.9M | -$53.3M | — | $27.8M | 10.2% | -77.0% |
| FY2016 | $160.2M | -$2.9M | — | -$60.8M | -2.1% | -3.6% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Rimini Street, Inc. is a consistent compounder, expanding top-line revenue at 11.4% annually over the past decade.
Rimini Street, Inc. has historically struggled to out-earn its cost of capital, averaging just -17.2% ROIC.
Rimini Street, Inc. has not shown aggressive share repurchases (>10% retirement) or a major balance-sheet leverage increase (>50% net debt growth) over the 10-year window.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Rimini Street, Inc. is modeled at -6.5% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-1.51 per share.