RMBS · NasdaqGS
Semiconductors · United States
Snapshot 2026-11-11 · Latest financial period 2026-09-30 · Yahoo Finance. Quotes may be delayed; reporting periods can differ.
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.
Company websiteQ3 2026
Published 2026-10-26
Q3 2026 REPORT HIGHLIGHTS
Rambus product growth accelerates while inventory and economic cash conversion set the next test for valuation.
Revenue of $218.289M and adjusted EPS of $0.84 exceeded management’s prior high ends.
Q4 product revenue is guided to $127–$133M, changing mix and investment needs.
The $87.235M balance nearly doubled since year end; conversion matters more than the build alone.
Financing-classified EDA installments reduce economic free cash alongside PPE purchases.
Our $85 base value is below the $90.32 dated quote; targets and future cash forecasts remain assumptions.
Comparable businesses
Same business group first, then company size. Preferred market cap: 0.5–2x; extended range: one-third–3x. Outside that range, industry benchmarks are labeled separately and excluded from peer medians.
No suitable peers with fresh, comparable size data are available. We have not substituted unrelated companies.
| Metric | RMBSRambus Inc.Snapshot 2026-11-11Financial period: 2026-09-30 |
|---|---|
| Market capMarket value, converted to USD | US$9.14B |
| Forward P/EProvider forward earnings estimate | 21.97x |
| EV / EBITDAEnterprise value / trailing EBITDA | 23.39x |
| Revenue growthLatest quarter vs prior-year quarter | 22.3% |
| Operating marginLatest reported quarter | 36.7% |
| Free cash flow yieldTrailing cash flow / market cap | 2.3% |
| Net debt / EBITDANet debt / trailing EBITDA | -2.24x |
| Debt / equityTotal debt / positive book equity | 0.01x |
| Trailing P/ETrailing twelve-month earnings | 35.27x |
| Price / bookPrice / positive book equity per share | 6.45x |
| EV / salesEnterprise value / trailing revenue | 9.91x |
| Earnings growthLatest quarter vs prior-year quarter | 56.8% |
| Gross marginTrailing twelve months | 79.9% |
| Net marginTrailing twelve months | 33.4% |
| Return on equityProvider trailing return; positive equity only | 19.6% |
| Free cash flow marginTrailing free cash flow / revenue | 26.5% |
| Dividend yieldIndicated annual dividend / price | — |
| Earnings payoutProvider trailing dividend payout | 0.0% |
| Current ratioCurrent assets / current liabilities | 9.38x |
| BetaProvider historical market sensitivity | 1.95 |
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Peer medians require at least two valid similar-size peers for each metric. Negative earnings, nonpositive equity, missing data and irrelevant bank ratios are not presented as attractive valuations. A higher or lower number is not automatically a better investment. Financial statement periods are not calendar-aligned across companies.
Reported performance
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Market context
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Starting assumptions, when available, use provider forward estimates as of 2026-11-11. Negative earnings require a different valuation method. This calculation omits balance-sheet, dilution and execution risks.
THE RESEARCH RECORD
FREE RESEARCH PACKET · Q3 2026
Rambus product growth accelerates while inventory and economic cash conversion set the next test for valuation.
Research published October 26, 2026 · Download original report
Read Research PacketPresentation · 2026-10-26 · YouTube
Presentation · 2026-07-29 · YouTube
Verify material figures against company filings. Market data and AI-assisted analysis may contain errors.
