NASDAQ : RMBS
Rambus Inc. — Financial statements
Technology · Semiconductors · United States
Last price 90.99 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 9.74B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Rambus Inc. (RMBS) reported revenue of 796.11M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 796.11M | 707.63M | 556.62M | 461.12M | 454.79M | 328.30M |
| Cost of Revenue | 159.91M | 137.54M | 98.90M | 89.90M | 93.64M | 54.15M |
| Gross Profit | 636.20M | 570.09M | 457.72M | 371.22M | 361.15M | 274.15M |
| Selling, General & Admin | 137.58M | 115.29M | 104.09M | 108.15M | 106.72M | 88.86M |
| Research & Development | 199.93M | 187.71M | 162.88M | 156.83M | 158.77M | 135.68M |
| Amortization of Goodwill & Intangibles | 6.18M | 6.88M | 11.71M | 14.74M | 15.61M | 17.47M |
| Operating Expenses | 343.69M | 309.88M | 278.69M | 279.72M | 281.10M | 242.00M |
| Operating Income | 292.51M | 260.22M | 179.04M | 91.50M | 80.05M | 32.15M |
| Interest Expense | -1.18M | -1.37M | -1.42M | -1.49M | -1.87M | -10.71M |
| Interest & Investment Income | 28.07M | 23.11M | 18.45M | 11.33M | 6.60M | 9.71M |
| Other Non Operating Income (Expenses) | -240.00K | -9.41M | ||||
| EBT Excluding Unusual Items | 319.40M | 281.96M | 196.07M | 101.10M | 75.36M | 31.15M |
| Merger & Restructuring Charges | -3.54M | -9.37M | -2.57M | |||
| Gain (Loss) on Sale of Investments | 23.92M | 3.55M | ||||
| Gain (Loss) on Sale of Assets | 90.78M | |||||
| Asset Writedown | -1.07M | -10.04M | ||||
| Other Unusual Items | 5.04M | -9.23M | -86.74M | -5.30M | ||
| Pretax Income | 315.86M | 281.96M | 200.04M | 187.16M | -7.83M | 23.29M |
| Income Tax Expense | 49.99M | 51.50M | 20.22M | -146.74M | 6.49M | 4.95M |
| Net Income | 265.87M | 230.46M | 179.82M | 333.90M | -14.31M | 18.33M |
| Net Income to Common | 265.87M | 230.46M | 179.82M | 333.90M | -14.31M | 18.33M |
| Shares Outstanding (Basic) | 107.96M | 107.55M | 107.44M | 108.18M | 109.47M | 110.54M |
| Shares Outstanding (Diluted) | 109.68M | 109.23M | 109.04M | 110.89M | 109.47M | 114.86M |
| EPS (Basic) | 2.46 | 2.14 | 1.67 | 3.09 | -0.13 | 0.17 |
| EPS (Diluted) | 2.42 | 2.11 | 1.65 | 3.01 | -0.13 | 0.16 |
| Free Cash Flow | 312.93M | 333.18M | 199.90M | 172.55M | 212.91M | 195.43M |
| Free Cash Flow Per Share | 2.85 | 3.05 | 1.83 | 1.56 | 1.95 | 1.70 |
| Gross Margin | 79.91% | 80.56% | 82.23% | 80.50% | 79.41% | 83.50% |
| Operating Margin | 36.74% | 36.77% | 32.16% | 19.84% | 17.60% | 9.79% |
| Profit Margin | 33.40% | 32.57% | 32.31% | 72.41% | -3.15% | 5.58% |
| Free Cash Flow Margin | 39.31% | 47.08% | 35.91% | 37.42% | 46.82% | 59.53% |
| EBITDA | 337.46M | 302.21M | 221.73M | 139.93M | 127.18M | 76.43M |
| EBITDA Margin | 42.39% | 42.71% | 39.83% | 30.35% | 27.96% | 23.28% |
| D&A For EBITDA | 44.95M | 41.99M | 42.69M | 48.43M | 47.13M | 44.28M |
| EBIT | 292.51M | 260.22M | 179.04M | 91.50M | 80.05M | 32.15M |
| EBIT Margin | 36.74% | 36.77% | 32.16% | 19.84% | 17.60% | 9.79% |
| Effective Tax Rate | 15.83% | 18.27% | 10.11% | 21.27% | ||
| Revenue as Reported | 796.11M | 707.63M | 556.62M | 461.12M | 454.79M | 328.30M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 110.53M | 182.83M | 99.78M | 94.77M | 125.33M | 107.89M |
| Short-Term Investments | 666.38M | 579.00M | 382.02M | 331.08M | 187.89M | 377.72M |
| Cash & Short-Term Investments | 776.91M | 761.83M | 481.80M | 425.84M | 313.23M | 485.61M |
| Receivables | 168.97M | 162.69M | 147.88M | 133.80M | 181.07M | 179.67M |
| Inventory | 87.23M | 44.10M | 44.63M | 36.15M | 20.90M | 8.48M |
| Prepaid Expenses | 18.32M | 20.20M | 15.94M | 34.85M | 12.02M | 10.60M |
| Total Current Assets | 1.05B | 988.82M | 690.26M | 630.64M | 527.21M | 684.36M |
| Property, Plant & Equipment | 121.62M | 130.16M | 96.96M | 89.31M | 110.40M | 79.75M |
| Long-Term Investments | 1.80M | |||||
| Goodwill | 286.81M | 286.81M | 286.81M | 286.81M | 292.04M | 278.81M |
| Other Intangible Assets | 5.71M | 10.17M | 17.06M | 28.77M | 50.88M | 58.42M |
| Long-Term Accounts Receivable | 25.22M | 123.02M | ||||
| Long-Term Deferred Tax Assets | 86.50M | 105.54M | 136.47M | 127.89M | 3.03M | 4.05M |
| Other Long-Term Assets | 6.16M | 8.04M | 115.58M | 94.80M | 3.81M | 2.44M |
| Total Assets | 1.56B | 1.53B | 1.34B | 1.26B | 1.01B | 1.23B |
| Accounts Payable | 23.35M | 35.91M | 18.52M | 18.07M | 24.82M | 11.28M |
| Accrued Expenses | 20.37M | 22.04M | 19.19M | 17.50M | 20.50M | 20.95M |
| Current Portion of Long-Term Debt | 10.38M | 163.69M | ||||
| Current Portion of Leases | 5.64M | 6.31M | 5.62M | 4.45M | 5.02M | 5.99M |
| Current Income Taxes Payable | 5.10M | 18.14M | 20.61M | |||
| Current Unearned Revenue | 32.39M | 29.98M | 19.90M | 17.39M | 23.86M | 24.75M |
| Other Current Liabilities | 30.34M | 26.32M | 18.58M | 26.60M | 23.99M | 20.00M |
| Total Current Liabilities | 112.09M | 120.57M | 81.81M | 89.12M | 126.71M | 267.27M |
| Long-Term Leases | 14.57M | 18.67M | 24.53M | 26.25M | 29.08M | 29.10M |
| Long-Term Deferred Tax Liabilities | 24.96M | 23.98M | ||||
| Other Long-Term Liabilities | 13.83M | 25.88M | 116.10M | 104.75M | 52.55M | 49.90M |
| Total Liabilities | 140.50M | 165.12M | 222.44M | 220.13M | 233.30M | 370.25M |
| Common Stock | 107.00K | 108.00K | 107.00K | 108.00K | 108.00K | 109.00K |
| Additional Paid-In Capital | 1.14B | 1.29B | 1.28B | 1.32B | 1.30B | 1.30B |
| Retained Earnings | 278.82M | 76.80M | -153.66M | -285.53M | -513.26M | -435.23M |
| Comprehensive Income & Other | -4.38M | -124.00K | -1.26M | -1.27M | -4.96M | -1.45M |
| Shareholders' Equity | 1.42B | 1.36B | 1.12B | 1.04B | 779.30M | 862.40M |
| Total Liabilities & Equity | 1.56B | 1.53B | 1.34B | 1.26B | 1.01B | 1.23B |
| Total Debt | 20.22M | 24.98M | 30.15M | 30.71M | 44.48M | 198.78M |
| Net Cash (Debt) | 756.69M | 736.85M | 451.65M | 395.14M | 268.75M | 286.83M |
| Net Cash Per Share | 6.90 | 6.75 | 4.14 | 3.56 | 2.45 | 2.50 |
| Filing Date Shares Outstanding | 107.10M | 107.79M | 106.86M | 107.89M | 107.85M | 109.32M |
| Total Common Shares Outstanding | 107.10M | 107.78M | 106.84M | 107.85M | 107.61M | 109.29M |
| Working Capital | 939.34M | 868.24M | 608.45M | 541.52M | 400.50M | 417.10M |
| Book Value Per Share | 13.24 | 12.66 | 10.49 | 9.63 | 7.24 | 7.89 |
| Tangible Book Value | 1.13B | 1.07B | 816.82M | 722.52M | 436.38M | 525.17M |
| Tangible Book Value Per Share | 10.51 | 9.90 | 7.65 | 6.70 | 4.06 | 4.81 |
| Machinery | 122.63M | 101.65M | 79.20M | 69.12M | 62.65M | |
| Construction In Progress | 7.41M | 7.79M | 5.66M | 6.95M | 1.81M | |
| Leasehold Improvements | 36.34M | 31.97M | 27.81M | 32.38M | 34.12M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 265.87M | 230.46M | 179.82M | 333.90M | -14.31M | 18.33M |
| Depreciation & Amortization | 44.95M | 41.99M | 42.69M | 48.43M | 47.13M | 44.28M |
| Loss (Gain) From Sale of Assets | -90.78M | |||||
| Asset Writedown & Restructuring Costs | 1.07M | 10.04M | ||||
| Loss (Gain) From Sale of Investments | -23.92M | -3.55M | ||||
| Stock-Based Compensation | 58.91M | 54.27M | 44.88M | 45.01M | 35.55M | 27.49M |
| Other Operating Activities | 25.77M | 29.66M | -14.90M | -135.23M | 100.63M | 15.47M |
| Change in Accounts Receivable | -36.92M | -13.99M | -13.64M | 64.86M | 98.67M | 104.93M |
| Change in Inventory | -42.63M | 536.00K | -8.48M | -15.25M | -12.70M | 6.11M |
| Change in Accounts Payable | 10.55M | 11.40M | 580.00K | -5.77M | 11.97M | 2.19M |
| Change in Unearned Revenue | 9.12M | 9.74M | 3.77M | -5.05M | -1.35M | 15.50M |
| Change in Income Taxes | 1.21M | -1.05M | 5.10M | -28.06M | -19.90M | -25.55M |
| Change in Other Net Operating Assets | 9.91M | -3.00M | -10.29M | -2.40M | -11.75M | 471.00K |
| Operating Cash Flow | 346.75M | 360.02M | 230.60M | 195.79M | 230.39M | 209.22M |
| Capital Expenditures | -33.82M | -26.84M | -30.70M | -23.24M | -17.48M | -13.79M |
| Cash Acquisitions | -15.93M | -97.11M | ||||
| Divestitures | 106.35M | |||||
| Sale (Purchase) of Intangibles | -3.00M | |||||
| Investment in Securities | -75.43M | -196.27M | -26.03M | -140.50M | 188.39M | -4.75M |
| Investing Cash Flow | -109.25M | -223.11M | -56.72M | -57.40M | 151.98M | -115.66M |
| Long-Term Debt Repaid | -12.29M | -16.35M | -26.57M | -272.44M | -12.47M | |
| Net Debt Issued (Repaid) | -15.23M | -12.29M | -16.35M | -26.57M | -272.44M | -12.47M |
| Issuance of Common Stock | 8.47M | 6.86M | 5.46M | 8.95M | 6.14M | 8.96M |
| Repurchase of Common Stock | -199.24M | -48.98M | -154.65M | -138.85M | -118.83M | -110.69M |
| Other Financing Activities | -2.45M | -13.15M | 22.20M | |||
| Financing Cash Flow | -206.00M | -54.41M | -167.99M | -169.62M | -362.94M | -114.21M |
| Foreign Exchange Rate Adjustments | -171.00K | 556.00K | -880.00K | 306.00K | -2.01M | -413.00K |
| Net Cash Flow | 31.33M | 83.05M | 5.01M | -30.93M | 17.43M | -21.06M |
| Free Cash Flow | 312.93M | 333.18M | 199.90M | 172.55M | 212.91M | 195.43M |
| Free Cash Flow Margin | 39.31% | 47.08% | 35.91% | 37.42% | 46.82% | 59.53% |
| Free Cash Flow Per Share | 2.85 | 3.05 | 1.83 | 1.56 | 1.95 | 1.70 |
| Levered Free Cash Flow | 210.77M | 250.74M | 155.75M | 109.00M | 109.55M | 86.13M |
| Unlevered Free Cash Flow | 211.51M | 251.59M | 156.64M | 109.94M | 110.72M | 92.82M |
| Cash Interest Paid | 73.00K | 1.52M | 2.37M | |||
| Cash Income Tax Paid | 24.99M | 24.99M | 27.13M | 25.93M | 25.27M | 22.84M |
| Change in Working Capital | -48.75M | 3.65M | -22.96M | 8.33M | 64.94M | 103.65M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 9.07B | 9.89B | 5.63B | 7.34B | 3.85B | 3.21B |
| Enterprise Value | 8.31B | 9.25B | 5.23B | 6.99B | 3.63B | 2.99B |
| Last Close Price | 84.65 | 91.89 | 52.86 | 68.25 | 35.82 | 29.39 |
| PE Ratio | 34.99 | 42.92 | 31.33 | 21.98 | 175.31 | |
| Forward PE | 22.67 | 32.37 | 22.57 | 34.41 | 20.41 | 20.25 |
| PS Ratio | 11.39 | 13.98 | 10.12 | 15.91 | 8.46 | 9.79 |
| PB Ratio | 6.39 | 7.25 | 5.03 | 7.07 | 4.94 | 3.73 |
| P/TBV Ratio | 8.06 | 9.27 | 6.90 | 10.15 | 8.82 | 6.12 |
| P/FCF Ratio | 28.97 | 29.69 | 28.18 | 42.52 | 18.08 | 16.45 |
| P/OCF Ratio | 26.14 | 27.48 | 24.43 | 37.48 | 16.71 | 15.36 |
| PEG Ratio | 0.93 | 1.79 | 1.41 | 2.71 | 1.45 | 2.03 |
| EV/Sales Ratio | 10.44 | 13.06 | 9.40 | 15.16 | 7.98 | 9.12 |
| EV/EBITDA Ratio | 24.62 | 30.59 | 23.59 | 49.97 | 28.55 | 39.16 |
| EV/EBIT Ratio | 28.41 | 35.53 | 29.22 | 76.42 | 45.36 | 93.10 |
| EV/FCF Ratio | 26.55 | 27.75 | 26.17 | 40.52 | 17.05 | 15.32 |
| Debt / Equity Ratio | 0.01 | 0.02 | 0.03 | 0.03 | 0.06 | 0.23 |
| Debt / EBITDA Ratio | 0.06 | 0.08 | 0.13 | 0.20 | 0.32 | 2.37 |
| Debt / FCF Ratio | 0.07 | 0.07 | 0.15 | 0.18 | 0.21 | 1.02 |
| Net Debt / Equity Ratio | -0.53 | -0.54 | -0.40 | -0.38 | -0.34 | -0.33 |
| Net Debt / EBITDA Ratio | -2.24 | -2.44 | -2.04 | -2.82 | -2.11 | -3.75 |
| Net Debt / FCF Ratio | -2.42 | -2.21 | -2.26 | -2.29 | -1.26 | -1.47 |
| Asset Turnover | 0.54 | 0.49 | 0.43 | 0.41 | 0.41 | 0.26 |
| Inventory Turnover | 2.43 | 3.10 | 2.45 | 3.15 | 6.37 | 4.72 |
| Quick Ratio | 8.44 | 7.67 | 7.70 | 6.28 | 3.90 | 2.49 |
| Current Ratio | 9.38 | 8.20 | 8.44 | 7.08 | 4.16 | 2.56 |
| Return on Equity (ROE) | 19.65% | 18.55% | 16.66% | 36.74% | -1.74% | 2.07% |
| Return on Assets (ROA) | 12.33% | 11.32% | 8.60% | 5.04% | 4.46% | 1.62% |
| Return on Invested Capital (ROIC) | 37.18% | 32.81% | 24.53% | 15.87% | 14.74% | 4.29% |
| Return on Capital Employed (ROCE) | 20.20% | 18.50% | 14.20% | 7.80% | 9.00% | 3.30% |
| Earnings Yield | 2.86% | 2.33% | 3.19% | 4.55% | -0.37% | 0.57% |
| FCF Yield | 3.45% | 3.37% | 3.55% | 2.35% | 5.53% | 6.08% |
| Buyback Yield / Dilution | -0.83% | -0.18% | 1.67% | -1.29% | 4.70% | -1.42% |