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TickerRSVR
SectorEntertainment
Mkt cap$668M
EV / EBITDA17.1×
PostureHigh Velocity
Composite62/100
LensTarget-side
SE-Cluster Research·Issuer Brief·Q2 2026CIK 1824403

Reservoir Media, Inc.

RSVRHIGH VELOCITYFILING INTENSITY

Reservoir Media, Inc. reads as High Velocity (composite 62/100); pressure / disclosure signals dominate the posture this cycle · primary market Media & Education.

Lens

Disclosed M&A capital (2023–2025)

$147M

new

vs N/A in 2020–2022

Disclosed transactions

N/A

flat

2/3 active fiscal years in window

Buyer archetype

Selective Buyer

Acquisition use is visible but targeted.

Composite score

62

/100

High Velocity dominates · Filing Intensity

Financial snapshot
Revenue$170M
EBITDA$65M
Enterprise value$1.1B
EV / Revenue6.5×
EV / EBITDA17.1×
P/EN/A
Cash$21M
Total debt$452M
as of 2026-05-10
§ I·SE-Cluster Issuer Brief

Behavioral posture, nine reads.

Each index scores the issuer 0–100 against an EDGAR-anchored definition. Scores ≥ threshold elevate the issuer into the index's constituent set; the dominant index drives the masthead label.

Active Acquirer

15/100

Companies actively deploying disclosed capital into M&A

  • $147M disclosed buyer spend

Buyer Cadence

0/100

Buyer-side companies with recent filing activity

  • 65 8-Ks

Target Probability

18/100

Issuers showing target-side patterns from filings

  • 6 activism filings

Spin/Carve

0/100

Issuers showing spin-off, carve-out, or sum-of-parts posture

  • 6 activism filings

Pressure Watch

40/100

Issuers facing activism, governance, or control pressure

  • 6 activism filings
  • Latest activism 1.7y ago

Distress Watch

30/100

Issuers showing financial-distress filing patterns

  • 6 activism filings

Restatement Risk

3/100

Issuers with accounting-integrity flags from filings

  • 1 auditor change
  • 1 NT late filing
  • Latest event 4.8y ago; discounted

Capital Velocity

Dominant
62/100

Issuers with the highest filing-activity intensity

  • 65 8-Ks
  • 5 form types

Quiet Power

0/100

Large issuers with low signal volume and clean disclosure cadence

  • Enterprise value $1.1B
  • 10-Q 125d ago
  • 2 active signals
§ II·SE-Cluster Issuer Brief

Capital cadence.

Ten-year disclosed M&A activity. Bars show spend ($MM); ticks show recorded transaction count. Disclosure tier annotated where v6 audited corpus carries an entry.

16
17
18
19
20
21
22
23
24
25

Disclosed spend $MM Disclosed transactions (right axis)Peak spend year: $97M · Peak count: 1

FYDisclosed buysDisclosed spendAvg ticketAudited tier
2025N/A$97MN/AN/A
2024N/A$50MN/AN/A
2023N/AN/AN/AN/A
2022N/AN/AN/AN/A
2021N/AN/AN/AN/A
2020N/AN/AN/AN/A
§ III·SE-Cluster Issuer Brief

Strategy posture.

The buyer's playbook in terms of strategic archetype: what each disclosed move says about how they're deploying capital.

Archetype mix

  • Bolt On
    25%
  • Platform
    25%
  • Tuck In
    25%
  • Geographic Expansion
    25%

Strategy keywords

Terms recurring across recent 10-K acquisition disclosures.

  • bolt_on
  • platform
  • tuck_in
  • geographic_expansion
§ IV·SE-Cluster Issuer Brief

Filing language.

Direct excerpts from acquisition disclosures and strategy sections: the verbs the buyer chose, in the filings they signed.

We plan to continue to execute on our disciplined approach to M&A strategy of acquiring high-quality copyrights and recordings, including executing transactions on an off-market basis at an attractive return and capitalizing on upside potential with our value enhancement capabilities.

10-KFY2025

Our M&A practice is committed to both catalog acquisition and strategic expansion of the roster.

10-KFY2023

Asset and company acquisitions have been our path to growth since inception.

10-KFY2025

Investing in hit songs had to be a key driver of our acquisition strategy.

10-KFY2023
§ V·SE-Cluster Issuer Brief

Market context.

Where this issuer sits inside its SE-Cluster rollup wedge, with disclosed-spend rank plus trading comparables against the public peer set.

Primary market

Media & Education

Market spend (2023–2025)
$31.8B
Market spend (2020–2022)
$74.8B
Recent vs prior
−57%
Issuer rank in market
N/A
Share of market capital
0.0%

Valuation positioning

17.1×EV / EBITDA

RSVR trades at a +5.0-turn premium to the Media & Education peer median of 12.1×.

EV / Revenue
6.5×
Net debt / EBITDA
6.7×
Peer median EV / EBITDA
12.1×

Trading comparables

FMP market data · 2026-05-10

CompanyEV / EBITDAEV / RevNet debt / EBITDARevenueM&A 2023–2025
21.6×2.0×-0.2×$8.8B$55M
19.2×1.5×-3.6×$25.6B$196M
Reservoir Media, Inc.RSVR
17.1×6.5×6.7×$170M$147M
4.9×1.8×2.2×$37.2B$100M
3.0×0.2×14.1×$2.1B$14M

Trading multiples from FMP market data; disclosed M&A spend from the SE-Cluster EDGAR 10-K corpus. Peer set = top disclosed buyers in Media & Education. Bars scaled to the highest EV/EBITDA in the set.

§ VI·SE-Cluster Issuer Brief

Buyer landscape.

Public buyers whose stated archetypes, target categories, and recent cadence align with this issuer as a plausible acquisition target. Scores cross EDGAR signal and disclosure overlap.

Likely buyers

No public buyers surface as a strong target-side fit on current signal.

Likely sellers / divestiture partners

No reciprocal divestiture / strategic-alternatives matches identified.

§ VII·SE-Cluster Issuer Brief

Filing activity & signal stream.

Filing cadence and event-driven signals visible on EDGAR. The signal stream below is curated from restatement / spin-carve / activism categories, providing context for any near-term call.

Filing cadence

  • 10-K (annual)52025-05-28
  • 10-Q (quarterly)162026-02-04
  • 8-K (event)652026-03-06
  • Proxy / DEF 14A122025-06-27
  • Activism (13D / DFAN / PREC)62024-09-30

Signals on file

  • elevated

    Auditor change

    2021-08-09

    1 Item 4.01 filing on file; certifying accountant change.

  • watch

    Late-filing notice

    2021-05-17

    1 NT 10-K/10-Q filing on file.

  • elevated

    Activism on file

    2024-09-30

    6 activist filings on file (13D, DFAN14A, PREC14A series).

  • info

    Signal

    10-K strategy themes

  • info

    Signal

    Restatement risk

§ VIII·SE-Cluster Issuer Brief

Audited corpus.

No audited record on file for this CIK in the current v6 corpus.

This issuer has not been extracted into the v6 audited acquirer corpus yet. The brief above pulls from ranking-level aggregates and issuer-index signal only.

Reservoir Media, Inc.: Issuer Brief | SE-Cluster