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Rambus (RMBS) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Rambus
NasdaqGS•Technology•Semiconductors
$87.64+1.99(0.02%)Market open
Market Cap
$9.49B
P/E
35.7x
P/S
11.9x
P/B
6.7x

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.

A

How this company scores

ExcellentMetricSide Score: 87/100

Strongest: Profitability (25/25); weakest: Balance Sheet & Red Flags (15/25).

Profitability25/25
Growth24/25
Balance Sheet & Red Flags15/25
Cash & Earnings Quality23/25
Strengths
Growing revenueStrong marginsHigh ROERising earnings

No red flags in the last 8 quarters.

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 35.7x5y range 18.5x – 172.3x
P/E 35.7x · near its 16-quarter median

Currently near its 16-quarter median.

P/S · 11.9x5y range 6.1x – 17.8x
P/S 11.9x · near its 20-quarter median

Currently near its 20-quarter median.

P/B · 6.7x5y range 2.8x – 9.2x
Price & Volume
Market Cap $9.49B

Metrics at a Glance

as of September 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue
$796.11M
7Q
Q. Revenue
$218.29M
2Q
TTM EBITDA
$301.14M
2Q
TTM Op. Income
$288.97M
2Q
Q. Op. Income
$83.65M
2Q
TTM Net Income
$265.87M
2Q
Q. Net Income
$74.56M
2Q
EPS
$0.69
2Q
Shares Out.
$107.64M
0%
$796.11M in TTM revenue grew 17.3% YoY, reaching $218.29M last quarter. TTM EBITDA of $301.14M and TTM operating income of $288.97M show growth is flowing through to the bottom line. TTM net income of $265.87M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin
78.3%
2%
EBITDA Margin
39.7%
2Q
Op. Margin
38.3%
2Q
Net Margin
34.2%
26%
Op. margin of 38.3% is up 2.9% YoY — cost efficiency is improving. Net margin at 34.2% and gross margin of 78.3% show how much of each revenue dollar survives to profit. Across the last 8 quarters, operating margin has risen for 2 consecutive quarters — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio
35.7x
27%
P/S Ratio
11.9x
28%
P/B Ratio
6.7x
23%
At 35.7x P/E, the stock trades above typical market levels — the market expects above-average growth. P/S of 11.9x and P/B of 6.7x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Over the past year, P/E is down 27% — an improving trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets
$1.56B
11%
Cash
$110.53M
40%
Long-Term Debt
N/A
Book Value
$1.42B
10%
D/E Ratio
N/A
Debt/EBITDA
0.0

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow
$102.48M
16%
TTM Free Cash Flow
$312.93M
7%
FCF Margin
39.3%
3Q
FCF / Net Income
1.2
2Q
TTM FCF of $312.93M on $102.48M in operating cash flow. The FCF / Net Income ratio of 1.2x means free cash flow covers net income — earnings are backed by cash. Over the past year, free cash flow is up 7% — an improving trend.

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Currently near its 20-quarter median.