RAMBUS INC RMBS

Technology SIC 3674 - Semiconductors & Related Devices NAICS Manufacturing › Computer and Electronic Product Manufacturing › Semiconductor and Other Electronic Component Manufacturing › Semiconductor and Related Device Manufacturing derived Nasdaq

Rambus is a global semiconductor company providing industry-leading chips and silicon IP for data-intensive computing systems, focusing on data center and artificial intelligence ("AI") infrastructure.

As a pioneer with over three decades of advanced semiconductor design experience, Rambus is at the forefront of enabling the next era of AI-driven computing, addressing the critical challenges of signal and power integrity at increasingly extreme data rates in the data center, edge and client markets. We are a leader in high-performance memory subsystems, offering a balanced and diverse portfolio of products, IP and patents that maximize performance and security in computationally intensive systems.

Last close 85.65 2026-10-23
Market cap $9.26B 2026-03-31 share count
52-week range 77.89 - 174.10

Valuation FY2025 figures against the last close

P/S13.1x
P/E40.6x
P/FCF27.8x
EV/EBITDA34.0x
Dividend yield—
Diluted EPS2.11

Where the revenue comes from as reported in the latest 10-K

Revenue by geography

  • South Korea
  • Singapore
  • United States
  • Other countries
Revenue by geography, 4 categories over 3 years. The same figures are in the table below. FY2025 South Korea, FY2025: 329.3M (46.5%) 47% South Korea Singapore, FY2025: 163.8M (23.2%) 23% Singapore United States, FY2025: 124.1M (17.5%) 18% United States Other countries, FY2025: 90.5M (12.8%) 13% Other countries FY2024 South Korea, FY2024: 197.5M (35.5%) 35% Singapore, FY2024: 67.3M (12.1%) 12% United States, FY2024: 201.5M (36.2%) 36% Other countries, FY2024: 90.3M (16.2%) 16% FY2023 South Korea, FY2023: 152.3M (33.0%) 33% Singapore, FY2023: 53.3M (11.6%) 12% United States, FY2023: 176.8M (38.3%) 38% Other countries, FY2023: 78.6M (17.1%) 17%
Region FY2025FY2024FY2023
South Korea $329.3M $197.5M $152.3M
Singapore $163.8M $67.3M $53.3M
United States $124.1M $201.5M $176.8M
Other countries $90.5M $90.3M $78.6M

As the company reported it, from the “Segments and Major Customers (Details 3)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $707.6M$556.6M$461.1M$454.8M$328.3M$246.3M$227.6M$231.2M$393.1M$336.6M
Cost of revenue $144.4M$110.1M$103.4M$107.6M$70.4M$60.7M$51.4M$53.7M$55.4M$45.8M
Gross profit $563.2M$446.5M$357.7M$347.2M$257.9M$185.6M$176.2M$177.5M$337.7M$290.8M
R&D $187.7M$162.9M$156.8M$158.8M$135.7M$139.8M$156.8M$158.3M$149.1M$129.8M
SG&A $115.3M$104.1M$108.1M$106.7M$91.1M$86.4M$100.6M$98.3M$110.9M$95.1M
Total operating expenses $303.0M$263.5M$204.1M$270.3M$233.6M$229.6M$276.4M$264.5M$338.7M$303.0M
Operating income $260.2M$183.0M$153.6M$76.9M$24.3M-$44.1M-$100.1M-$87.0M$54.4M$33.6M
Interest expense $1.4M$1.4M$1.5M$1.9M$10.7M$10.3M$9.9M$16.3M$13.7M$12.7M
Pre-tax income $282.0M$200.0M$187.2M-$7.8M$23.3M-$36.5M-$82.5M-$70.6M$41.0M$22.6M
Income tax $51.5M$20.2M$146.7M$6.5M$5.0M$3.9M$3.4M$87.3M$63.9M$15.8M
Net income $230.5M$179.8M$333.9M-$14.3M$18.3M-$40.5M-$86.0M-$158.0M-$22.9M$6.8M
EPS, basic 2.141.673.09-0.130.17-0.36-0.77-1.46-0.210.06
EPS, diluted 2.111.653.01-0.130.16-0.36-0.77-1.46-0.210.06
Shares, diluted (wtd. avg.) 109.2M109.0M110.9M109.5M114.9M113.3M110.9M108.5M110.2M113.1M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $182.8M$99.8M$94.8M$125.7M$108.3M$129.3M$102.5M$116.3M$225.8M$135.3M
Short-term investments $579.0M$382.0M$331.1M$187.9M$377.7M$373.7M————
Receivables $137.5M$122.8M$82.9M$55.4M$44.1M$27.9M$38.6M$50.9M$25.3M$21.1M
Inventory $44.1M$44.6M$36.2M$20.9M$8.5M$14.5M$9.9M$6.8M$5.2M$5.6M
Total current assets $988.8M$690.3M$630.6M$527.2M$684.4M$699.7M$656.4M$527.8M$371.7M$216.8M
Property, plant and equipment $113.1M$75.5M$67.8M$86.3M$56.0M$57.7M$38.6M$57.0M$54.3M$58.4M
Goodwill $286.8M$286.8M$286.8M$292.0M$278.8M$183.2M$183.5M$207.2M$209.7M$204.8M
Other intangibles $10.2M$17.1M$28.8M$50.9M$58.4M$36.5M$35.4M$59.9M$91.7M$132.4M
Total assets $1.53B$1.34B$1.26B$1.01B$1.23B$1.25B$1.30B$1.36B$891.1M$783.5M
Accounts payable $35.9M$18.5M$18.1M$24.8M$11.3M$9.0M$9.4M$7.4M$9.6M$9.8M
Total current liabilities $120.6M$81.8M$89.1M$126.7M$267.3M$85.9M$88.3M$69.3M$132.8M$51.3M
Total liabilities $165.1M$222.4M$220.1M$233.3M$370.2M$338.7M$338.5M$349.0M$319.5M$230.7M
Retained earnings $76.8M-$153.7M-$285.5M-$513.3M-$435.2M-$357.8M-$278.9M-$204.3M-$636.2M-$615.1M
Total equity $1.36B$1.12B$1.04B$779.3M$862.4M$912.7M$975.4M$1.01B$571.6M$552.8M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $360.0M$230.6M$195.8M$230.4M$209.2M$185.5M$128.5M$86.2M$117.4M$95.6M
Depreciation and amortisation $11.9M$10.1M$10.1M$9.3M$21.0M$22.1M$15.3M$10.7M$13.3M$13.0M
Stock-based compensation $54.3M$44.9M$45.0M$35.6M$27.5M$25.8M$26.5M$21.7M$27.4M$21.0M
Capital expenditure $26.8M$30.7M$23.2M$17.5M$13.8M$29.7M$6.5M$10.8M$9.4M$8.6M
Investing cash flow -$223.1M-$56.7M-$57.4M$152.0M-$115.7M-$97.6M-$141.5M-$67.1M-$75.5M-$105.2M
Financing cash flow -$54.4M-$168.0M-$169.6M-$362.9M-$114.2M-$61.2M-$298.0K-$127.7M$46.4M$2.7M
Buybacks $7.1M$113.3M$100.5M$100.4M$100.1M$50.1M$0$50.0M$50.0M$0

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 0001193125-26-057101.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -250M 0 250M 500M 750M Revenue, FY2016: 336.6M Gross profit, FY2016: 290.8M Net income, FY2016: 6.8M Revenue, FY2017: 393.1M Gross profit, FY2017: 337.7M Net income, FY2017: -22.9M Revenue, FY2018: 231.2M Gross profit, FY2018: 177.5M Net income, FY2018: -158M Revenue, FY2019: 227.6M Gross profit, FY2019: 176.2M Net income, FY2019: -86M Revenue, FY2020: 246.3M Gross profit, FY2020: 185.6M Net income, FY2020: -40.5M Revenue, FY2021: 328.3M Gross profit, FY2021: 257.9M Net income, FY2021: 18.3M Revenue, FY2022: 454.8M Gross profit, FY2022: 347.2M Net income, FY2022: -14.3M Revenue, FY2023: 461.1M Gross profit, FY2023: 357.7M Net income, FY2023: 333.9M Revenue, FY2024: 556.6M Gross profit, FY2024: 446.5M Net income, FY2024: 179.8M Revenue, FY2025: 707.6M Gross profit, FY2025: 563.2M Net income, FY2025: 230.5M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $336.6M $393.1M $231.2M $227.6M $246.3M $328.3M $454.8M $461.1M $556.6M $707.6M
Gross profit $290.8M $337.7M $177.5M $176.2M $185.6M $257.9M $347.2M $357.7M $446.5M $563.2M
Net income $6.8M -$22.9M -$158.0M -$86.0M -$40.5M $18.3M -$14.3M $333.9M $179.8M $230.5M

Recent filings and events

  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Officer or director change Item 5.02
  • Results announced Item 2.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Officer or director change Item 5.02
  • Officer or director change Item 5.02
  • Results announced Item 2.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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