Rambus Inc. (RMBS) Stock Analysis
Technology · Semiconductors · NasdaqGS
Rambus Inc. (RMBS) posted $705.55M in revenue for fiscal 2025 (up 20.8% year over year), at a 32.7% net margin, and has compounded revenue about 23.4%/yr over five years, per its SEC filings.
Data last refreshed August 2, 2026 from SEC filings · how we compute this
The analyst's take on Rambus Inc.
Rambus Inc. has grown revenue from $336.60M to $705.55M over the last 10 fiscal years, compounding about 23.4% a year. The most recent year was up 20.8%, so growth has cooled from its longer-run pace.
Net margin sits at 32.7%, up 1.9 points year over year on a 79.8% gross margin.
At today's valuation the market is pricing in roughly 18.7% annual free-cash-flow growth — versus the 16.4% it actually delivered over the last five years, broadly in line with what it has delivered.
Synthesised from Rambus Inc.'s SEC filings — descriptive, not advice. Ask the analyst your own question →
Rambus Inc. revenue & earnings — last 10 fiscal years
| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $336.60M | $393.10M | $231.20M | $227.60M | $246.32M | $328.30M | $571.70M | $558.60M | $584.10M | $705.55M |
| Gross profit | $290.84M | $337.73M | $177.50M | $176.23M | $185.57M | $257.91M | $347.21M | $357.69M | $446.52M | $563.22M |
| Net income | $6.82M | $-22.86M | $-157.96M | $-85.96M | $-40.47M | $18.33M | $-14.31M | $333.90M | $179.82M | $230.46M |
| Net margin | 2.0% | -5.8% | -68.3% | -37.8% | -16.4% | 5.6% | -2.5% | 59.8% | 30.8% | 32.7% |
Source: Rambus Inc. SEC filings (10-K). 18 years of history available in the interactive view.
Rambus Inc.: no obvious red flags in the filings
Our deterministic scan of the filed statements — receivables vs sales, earnings vs cash, dilution, leverage and margins — didn't flag anything. Ask about the risks →
What growth is priced into RMBS stock?
At today's market cap of $14.91B, Rambus Inc. is priced for free-cash-flow growth of about 18.7% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $333.18M from the FY ending 2025-12-31). For comparison, free cash flow actually grew 16.4%/yr over the last five fiscal years and revenue 23.4%/yr, computed from its SEC filings. This is a reverse DCF — a translation of the price into a growth assumption you can judge, not a fair value and not advice. Change the assumptions yourself in the interactive view →
Explore 18 years of Rambus Inc. financials — interactive
Full income statement, balance sheet and cash flow with CAGR and trend on every row, 48 quarters, valuation ratios, plain-English health checks, and Ask — our SEC-grounded research assistant.
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Rambus Inc. financial history by metric
Compare Rambus Inc. with peers
About Rambus Inc.
Rambus Inc. manufactures and sells semiconductor products in the United States, South Korea, Singapore, and internationally. It offers memory interface chips comprising DDR5 memory interface chips which include registering clock driver, multiplexed registering clock driver, multiplexed data buffer, power management integrated circuits, serial presence detect hubs, temperature sensors, and client clock driver products; and DDR4 memory interface chips. The company also provides silicon IP, such as interface and security IP solutions that move and protect data in advanced artificial intelligence, data center, government, and automotive applications; interface IP solutions for high-speed memory and chip-to-chip digital controller IP; security IP solutions, including crypto cores, hardware roots of trust, high-speed protocol engines, and chip provisioning technologies. In addition, it offers portfolio of patents that covers memory architecture, high-speed serial links, and security products. The company sells its products to memory module manufacturers, OEMs and hyperscalers, as well as to chip makers. It markets its products and services through its direct sales force and distributors. Rambus Inc. was incorporated in 1990 and is headquartered in San Jose, California.
Rambus Inc. — frequently asked questions
What is Rambus Inc.'s revenue?
Rambus Inc. (RMBS) reported revenue of $705.55M for fiscal year 2025, up 20.8% from the prior year, according to its SEC filings.
Is Rambus Inc. profitable?
Yes. RMBS earned net income of $230.46M in fiscal 2025, a net margin of 32.7%.
What is RMBS's P/E ratio?
Rambus Inc. trades at a price-to-earnings ratio of about 65.7 based on the latest data in our nightly-refreshed cache.
How fast is Rambus Inc. growing?
RMBS's revenue grew at roughly 23.4% per year over the last five fiscal years (compound annual growth rate), computed from SEC-filed statements.
How much debt does Rambus Inc. have?
As of fiscal year 2025, RMBS carried roughly $0 in total debt (short- plus long-term borrowings), per its filed balance sheet.
What is Rambus Inc.'s gross margin?
RMBS's gross margin was 79.8% in fiscal 2025 — gross profit of $563.22M on revenue of $705.55M.
What is Rambus Inc.'s market cap?
Rambus Inc. (RMBS) has a market capitalization of about $14.91B, based on the latest data in our nightly-refreshed cache.
When does Rambus Inc.'s fiscal year end?
RMBS's fiscal year ends in December. Its most recent annual filing covers the fiscal year ending 2025-12-31.
What growth is priced into RMBS stock?
At today's market cap of $14.91B, Rambus Inc. is priced for free-cash-flow growth of about 18.7% per year for 10 years (assuming a 10% discount rate and 2.5% terminal growth, base FCF $333.18M from the FY ending 2025-12-31). For comparison, free cash flow actually grew 16.4%/yr over the last five fiscal years and revenue 23.4%/yr, computed from its SEC filings.
Where does this data come from?
All figures are computed from Rambus Inc.'s official SEC filings (10-K and 10-Q), covering 18 years of history, refreshed nightly. stockportfolio.pro does not provide investment advice.