Latest Ratios: P/E Ratio -43.0x · EV/EBITDA N/A · ROE N/A. (2021–2026 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|---|
| Market Cap | $15.7B | $11.0B | $11.3B | — | — | — | — |
| Enterprise Value | $16.5B | $11.7B | $11.5B | — | — | — | — |
| P/E Ratio → | -42.99 | — | — | — | — | — | — |
| P/S Ratio | 11.97 | 8.35 | 12.75 | — | — | — | — |
| P/B Ratio | — | — | — | — | — | — | — |
| P/FCF | 62.18 | 43.40 | 360.69 | — | — | — | — |
| P/OCF | 55.67 | 38.85 | 234.41 | — | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 8.92 | 12.94 | — | — | — | — |
| EV / EBITDA | — | — | — | — | — | — | — |
| EV / EBIT | — | — | — | — | — | — | — |
| EV / FCF | — | 46.36 | 365.94 | — | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|---|
| Gross Margin | 80.1% | 80.1% | 70.0% | 62.1% | 53.4% | 53.3% | 56.0% |
| Operating Margin | -26.2% | -26.2% | -127.9% | -48.8% | -43.6% | -49.4% | -53.9% |
| Net Profit Margin | -26.5% | -26.5% | -130.3% | -56.4% | -46.3% | -50.3% | -55.0% |
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|---|
| ROE | — | — | — | — | — | — | -266.8% |
| ROA | -16.7% | -16.7% | -100.6% | -43.1% | -43.1% | -49.5% | -41.8% |
| ROIC | -112.2% | -112.2% | — | — | — | — | — |
| ROCE | -35.9% | -35.9% | -328.6% | -111.2% | -101.5% | -108.6% | -75.2% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|---|
| Debt / Equity | — | — | — | — | — | — | 0.07 |
| Debt / EBITDA | — | — | — | — | — | — | — |
| Net Debt / Equity | — | — | — | — | — | — | -1.43 |
| Net Debt / EBITDA | — | — | — | — | — | — | — |
| Debt / FCF | — | 2.96 | 5.25 | — | — | — | — |
| Interest Coverage | -17.95 | -17.95 | -26.84 | -9.81 | -21.99 | — | — |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|---|
| Current Ratio | 1.69 | 1.69 | 1.13 | 0.84 | 1.17 | 0.98 | 1.56 |
| Quick Ratio | 1.69 | 1.69 | 1.13 | 0.83 | 1.14 | 0.97 | 1.54 |
| Cash Ratio | 1.28 | 1.28 | 0.74 | 0.43 | 0.68 | 0.41 | 0.94 |
| Asset Turnover | — | 0.48 | 0.62 | 0.72 | 0.78 | 0.98 | 0.76 |
| Inventory Turnover | — | — | 63.53 | 49.55 | 29.32 | 53.70 | 50.16 |
| Days Sales Outstanding | — | 71.21 | 75.00 | 81.33 | 94.84 | 120.78 | 112.61 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — |
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — |
| FCF Yield | 1.6% | 2.3% | 0.3% | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | — | — | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | — | — | — | — |
| Shares Outstanding | — | $196M | $154M | $176M | $176M | $176M | $176M |
High Operating Loss Burn
As reported in recent financial statements, Rubrik trades at a price-to-sales multiple of 11.31, a valuation that appears to price in aggressive long-term market share capture rather than near-term earnings, especially when compared to the lower-multiple legacy infrastructure software providers like Commvault within the broader sector.
The forward P/E of 233.62 suggests that the market is heavily discounting future profitability, placing significant pressure on management to maintain high growth rates. Investors should monitor whether this premium valuation can be sustained if the company fails to demonstrate a clear, accelerated path toward GAAP profitability in upcoming quarters.
Based on the provided quarterly data, Rubrik’s ROIC has remained deeply negative, reaching -17.5% in 2027Q1, which indicates that the company is currently destroying capital on an accounting basis as it prioritizes rapid expansion and market penetration over immediate returns on invested capital for its shareholders.
The persistent negative ROIC suggests that the cost of acquiring new customers and developing the platform currently outweighs the returns generated by the existing install base. This trend warrants further investigation into whether the company's unit economics are improving sufficiently to eventually cross into positive territory as the business scales.
According to recent SEC filings, Rubrik’s asset turnover ratio has remained low at 0.14 in 2027Q1, reflecting the capital-intensive nature of its growth phase and the significant investment required to build out its cloud-native security infrastructure compared to more mature, asset-light software peers in the industry.
The company's ability to maintain a DSO in the 50-day range suggests relatively stable collection cycles, which is critical for a business model reliant on deferred revenue. However, the low asset turnover indicates that the company has not yet achieved the operational efficiency required to maximize revenue generation from its existing asset base.
As reported in quarterly balance sheet filings, Rubrik has improved its current ratio to 1.74 in 2027Q1, a significant recovery from the 0.73 level seen in 2024Q4, which suggests that the company has successfully bolstered its short-term liquidity to manage its ongoing operational cash requirements during this growth phase.
The improvement in the quick ratio indicates that the company is better positioned to meet its short-term obligations without relying on inventory liquidation, which is largely irrelevant for this software-centric model. Investors should monitor this liquidity buffer as a primary defense against potential macroeconomic headwinds that could impact enterprise IT spending.
Based on an analysis of the company's financial structure, the P/E ratio is a fundamentally flawed metric for Rubrik, as it obscures the company's true economic performance by failing to account for the massive non-cash stock-based compensation expenses that currently distort the reported net income figures.
Analysts should instead focus on metrics like EV/Subscription ARR or Free Cash Flow yield to better understand the underlying momentum of the business. Relying on P/E in this context risks misinterpreting the company's growth-at-all-costs strategy as a failure of operational viability rather than a deliberate, albeit risky, capital allocation choice.
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Rubrik, Inc.'s current P/E ratio is -43.0x. This places it at the 50th percentile of its historical range.
Based on historical data, Rubrik, Inc. is trading at a P/E of -43.0x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Rubrik, Inc. has 80.1% gross margin and -26.2% operating margin.