Rambus Inc (RMBS)

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.

Ticker
RMBS
Exchange
Nasdaq
Sector
Technology
Industry
Semiconductors
Market cap
$7.98B
52-week range
$68.19 - $174.10

Valuation

Share price
$74.53 (close of Nov 6, 2026)
P/E (TTM)
30.42x
Price to book
5.63x
Price to free cash flow
25.51x
Enterprise value
$7.89B
Book value per share
$13.24

Price performance

PeriodChange
1 day+6.96%
5 days-11.96%
1 month-34.67%
3 months-23.70%
6 months-42.69%
Year to date-18.89%
1 year-30.01%
3 years+28.81%
5 years+210.54%
10 years+524.73%
All time+885.52%

Short interest

As of
Oct 15, 2026
Short % of float
5.45%
Shares short
4.29M
Days to cover
2.87
Change since prior report
-10.38%
Source
FINRA consolidated short interest

Profitability and growth

Return on equity
16.89%
Return on invested capital
15.02%
Return on assets
15.07%
Return on capital employed
18.47%
Gross margin
79.59%
Net margin
32.57%
EBITDA margin
41.13%
Revenue growth
27.13%
Net income growth
28.16%
Free cash flow growth
66.67%

Cash flow and balance sheet

Free cash flow yield (TTM)
3.92%
Current ratio
9.38x
Net debt to EBITDA
-0.25x

Latest reported year

Period end
Dec 31, 2025
Fiscal year
2025
Revenue
$707.63M
Cost of revenue
$144.41M
Gross profit
$563.22M
EBITDA
$291.02M
Net income
$230.46M
Earnings per share
$2.14
Research and development
$187.71M
Interest expense
$1.37M
Shares outstanding
107.55M

Income statement by year

Period endRevenueGross profitNet incomeEPS
2025-12-31$707.63M$563.22M$230.46M$2.14
2024-12-31$556.62M$446.52M$179.82M$1.67
2023-12-31$461.12M$357.69M$333.90M$3.09
2022-12-31$454.79M$347.21M-$14.31M-$0.13
2021-12-31$328.30M$257.91M$18.33M$0.17
2020-12-31$246.32M$185.57M-$40.47M-$0.36
2019-12-31$227.60M$176.23M-$85.96M-$0.77
2018-12-31$231.20M$177.50M-$157.96M-$1.46
2017-12-31$393.10M$337.73M-$22.86M-$0.21
2016-12-31$336.60M$290.84M$6.82M$0.06

Margins and returns by year

Period endGross marginNet marginReturn on equityReturn on capital
2025-12-3179.59%32.57%16.89%15.02%
2024-12-3180.22%32.31%16.05%14.15%
2023-12-3177.57%72.41%32.16%14.37%
2022-12-3176.35%-3.15%-1.84%8.55%
2021-12-3178.56%5.58%2.13%1.82%
2020-12-3175.34%-16.43%-4.43%-3.98%
2019-12-3177.43%-37.77%-8.81%-8.56%
2018-12-3176.77%-68.32%-15.61%-7.54%
2017-12-3185.92%-5.82%-4.00%3.46%
2016-12-3186.40%2.03%1.23%2.63%

Cash and debt by year

Period endCashDebt
2025-12-31$182.82M-
2024-12-31$99.77M-
2023-12-31$94.77M-
2022-12-31$125.34M-
2021-12-31$107.89M-
2020-12-31$495.47M$156.03M
2019-12-31$407.66M$148.79M
2018-12-31$277.76M$141.93M
2017-12-31$329.38M$135.45M
2016-12-31$172.18M$126.17M

Free cash flow by year

Period endFree cash flowStock-based compensation
2025-12-31$333.18M$54.27M
2024-12-31$199.90M$44.88M
2023-12-31$172.55M$45.01M
2022-12-31$212.91M$35.55M
2021-12-31$195.43M$27.49M
2020-12-31$155.73M$25.78M
2019-12-31$122.06M$26.48M
2018-12-31$75.46M$21.74M
2017-12-31$108.05M$27.40M
2016-12-31$87.05M$21.01M

Investor relations

Past earnings dates

ReportedFiscal periodEPS estimate
2026-10-26Sep 2026$0.65
2026-07-27Jun 2026$0.58
2026-04-27Mar 2026$0.55
2026-02-02Dec 2025$0.54
2025-10-27Sep 2025-
2025-07-28Jun 2025$0.49
2025-04-28Mar 2025$0.44
2025-02-03Dec 2024$0.47

Filings and sources

Company website
rambus.com
SEC filings
10-K, 10-Q and 8-K on EDGAR
Earnings calendar
All upcoming reports

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