Finite-amplitude capillary waves, which can accompany the axisymmetric flow of a thin viscous film over a rotating disk, are considered. A system of approximate evolution equations for the film thickness and volumetric flow rates in the radial and azimuthal directions is derived, which contains two similarity parameters. In order to inspire confidence in this model, its steady solutions and their linear stability characteristics are compared to those of the full Navier–Stokes equations. Localized equations, which account for the presence of inertial, capillary, centrifugal and Coriolis forces, are obtained via truncation of the approximate system. Periodic solutions of these equations are then determined and found to be similar to those observed experimentally. Our results suggest that the steady quasi-periodic waves with largest amplitude compare well with experimentally observed wave profiles.