Rivian Automotive, Inc. / DE RIVN
Rivian is an American automotive technology company that develops and manufactures category-defining electric vehicles as well as vertically integrated technologies and services. Through innovation across its electrical architecture, end-to-end software, autonomous driving platform, artificial intelligence, and propulsion, the Company creates vehicles that excel at work and play with the goal of accelerating the global transition to zero-emission transportation and energy. Rivian vehicles are manufactured in the United States and are sold directly to consumer and commercial customers. Whether taking families on new adventures or electrifying fleets at scale, Rivian vehicles all share a common goal — preserving the natural world for generations to come.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $5.39B | $4.97B | $4.43B | $1.66B | $55.0M | $0 | $0 | — |
| Cost of revenue | $5.24B | $6.17B | $6.46B | $4.78B | $520.0M | $0 | $0 | — |
| Gross profit | $144.0M | -$1.20B | -$2.03B | -$3.12B | -$465.0M | $0 | $0 | — |
| R&D | $1.67B | $1.61B | $2.00B | $1.94B | $1.85B | $766.0M | $301.0M | — |
| SG&A | $2.06B | $1.88B | $1.71B | $1.79B | $1.24B | $255.0M | $108.0M | — |
| Total operating expenses | $3.73B | $3.49B | $3.71B | $3.73B | $3.75B | $1.02B | $409.0M | — |
| Operating income | -$3.58B | -$4.69B | -$5.74B | -$6.86B | -$4.22B | -$1.02B | -$409.0M | — |
| Interest expense | $274.0M | $318.0M | $220.0M | $103.0M | $29.0M | $8.0M | $34.0M | — |
| Pre-tax income | -$3.62B | -$4.74B | -$5.43B | -$6.75B | -$4.69B | -$1.02B | -$426.0M | — |
| Income tax | $6.0M | $5.0M | $1.0M | $4.0M | $0 | $0 | $0 | — |
| Net income | -$3.63B | -$4.75B | -$5.43B | -$6.75B | -$4.69B | -$1.02B | -$426.0M | — |
| EPS, basic | -3.07 | -4.69 | -5.74 | -7.40 | -22.98 | -10.09 | -4.35 | — |
| EPS, diluted | -3.07 | -4.69 | -5.74 | -7.40 | -22.98 | -10.09 | -4.35 | — |
| Shares, diluted (wtd. avg.) | $1.19B | $1.01B | $947.0M | $913.0M | $204.0M | $101.0M | $98.0M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $3.58B | $5.29B | $7.86B | $12.10B | $18.42B | $3.01B | $2.27B | $14.0M |
| Short-term investments | $2.50B | $2.41B | $1.51B | $0 | — | — | — | — |
| Receivables | $555.0M | $443.0M | $161.0M | $102.0M | $26.0M | $6.0M | — | — |
| Inventory | $1.59B | $2.25B | $2.62B | $1.35B | $274.0M | $0 | — | — |
| Total current assets | $8.59B | $10.58B | $12.31B | $13.13B | $18.56B | $3.02B | — | — |
| Property, plant and equipment | — | — | — | $3.76B | $3.18B | $1.45B | — | — |
| Total assets | $14.86B | $15.41B | $16.78B | $17.88B | $22.29B | $4.60B | — | — |
| Accounts payable | $595.0M | $499.0M | $981.0M | $1.00B | $483.0M | $90.0M | — | — |
| Short-term debt | — | — | $0 | $0 | $0 | $28.0M | — | — |
| Total current liabilities | $3.69B | $2.25B | $2.49B | $2.42B | $1.31B | $611.0M | — | — |
| Long-term debt | $4.44B | $4.44B | $4.43B | $1.23B | $1.23B | $47.0M | — | — |
| Total liabilities | $10.27B | $8.85B | $7.64B | $4.08B | $2.78B | $742.0M | — | — |
| Retained earnings | -$26.95B | -$23.30B | -$18.56B | -$13.13B | -$6.37B | -$1.69B | — | — |
| Total equity | $4.59B | $6.56B | $9.14B | $13.80B | $19.51B | -$1.38B | -$375.0M | -$88.0M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$779.0M | -$1.72B | -$4.87B | -$5.05B | -$2.62B | -$848.0M | -$353.0M | — |
| Depreciation and amortisation | $784.0M | $1.03B | $937.0M | $652.0M | $197.0M | $29.0M | $7.0M | — |
| Stock-based compensation | $741.0M | $692.0M | $821.0M | $987.0M | $570.0M | $0 | $0 | — |
| Capital expenditure | $1.71B | $1.14B | $1.03B | $1.37B | $1.79B | $914.0M | $199.0M | — |
| Investing cash flow | -$1.83B | -$1.98B | -$2.51B | -$1.37B | -$1.79B | -$914.0M | -$199.0M | — |
| Financing cash flow | $886.0M | $1.14B | $3.13B | $99.0M | $19.83B | $2.50B | $2.81B | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001874178-26-000023.
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