The company exhibits a fortress-like capital structure, evidenced by a negligible debt-to-equity ratio of 0.02% and a current ratio of 9.82 as of 2026Q1.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Sep'02 | Sep'01 | Sep'00 | Sep'99 | Sep'98 | Sep'97 | Sep'96 |
|---|
| Total Current Assets | 999.88M | 988.82M | 690.26M | 630.64M | 527.21M | 684.36M | 699.71M | 664.67M | 527.75M | 371.74M | 216.78M | 315.59M | 314.84M | 398.37M | 215.18M | 301.38M | 527.93M | 469.97M | 355.93M | 462.75M | 442.74M | 170.01M | 157.18M | 95.59M | 95.93M | 143.25M | 142.94M | 99.8M | 91.8M | 80.8M | 10.1M |
| Cash & Short-Term Investments | 786.14M | 761.83M | 481.8M | 425.84M | 313.23M | 485.61M | 502.65M | 407.66M | 277.76M | 329.38M | 172.18M | 287.71M | 300.11M | 387.66M | 203.33M | 289.46M | 512.01M | 460.19M | 345.85M | 440.88M | 424.36M | 160.81M | 137.79M | 66.78M | 86.54M | 129.9M | 122.22M | 87.6M | 25.8M | 20.6M | 700K |
| Cash Only | 134.32M | 182.83M | 99.78M | 94.77M | 125.33M | 107.89M | 128.97M | 102.18M | 115.92M | 225.84M | 135.29M | 143.76M | 154.13M | 338.7M | 148.98M | 162.24M | 215.26M | 289.07M | 116.24M | 119.39M | 73.3M | 42.39M | 48.31M | 42.01M | 21.45M | 44.2M | 63.09M | 5.5M | 25.8M | 20.6M | 700K |
| Short-Term Investments | 651.82M | 579M | 382.02M | 331.08M | 187.89M | 377.72M | 373.68M | 305.49M | 161.84M | 103.53M | 36.89M | 143.94M | 145.98M | 48.97M | 54.35M | 127.21M | 296.75M | 171.12M | 229.61M | 321.49M | 351.06M | 118.42M | 89.48M | 24.78M | 65.08M | 85.7M | 59.13M | 82.1M | 0 | 0 | 0 |
| Accounts Receivable | 134.17M | 162.69M | 147.88M | 133.8M | 181.07M | 179.67M | 166.72M | 228.41M | 227.48M | 25.89M | 21.1M | 16.41M | 6M | 2.25M | 529K | 1.03M | 2.6M | 949K | 1.5M | 1.92M | 2.59M | 954K | 1.44M | 10.26M | 312K | 2.37M | 68K | 2.5M | 1.9M | 900K | 700K |
| Days Sales Outstanding | 71.02 | 83.91 | 96.97 | 105.91 | 145.32 | 199.76 | 247.04 | 372.13 | 359.12 | 24.04 | 22.88 | 20.21 | 7.39 | 3.03 | 0.82 | 1.2 | 2.93 | 3.07 | 3.85 | 3.89 | 4.85 | 2.22 | 3.62 | 31.69 | 1.18 | 7.38 | 0.34 | 21.03 | 18.3 | 12.63 | 22.61 |
| Inventory | 58.42M | 44.1M | 44.63M | 36.15M | 20.9M | 8.48M | 14.47M | 10.09M | 6.77M | 5.16M | 5.63M | 1.08M | 0 | 0 | -1.14M | 0 | 0 | 0 | -615K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | 102.32 | 94.64 | 119.17 | 92.71 | 54.19 | 31.45 | 57.65 | 47.42 | 41.65 | 21.89 | 27.59 | 8.24 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Current Assets | 0 | 0 | 15.94M | 34.85M | 12.02M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 187K | 205K | 788K | 2.8M | 2.42M | 129K | 88K | 11.6M | 11.39M | 3.83M | 0 | 0 | 0 | 0 | 20.65M | 9.7M | 64.1M | 59.3M | 8.7M |
| Total Non-Current Assets | 533.27M | 540.73M | 652.88M | 627.58M | 485.38M | 548.28M | 551.7M | 678.77M | 833.4M | 512.88M | 566.72M | 403.91M | 273.44M | 315.01M | 373.78M | 392.28M | 135.25M | 85.9M | 40.96M | 164.6M | 161.87M | 315.3M | 219.54M | 197.5M | 137.03M | 94.54M | 76.69M | 13.2M | 19.2M | 7.1M | 2.8M |
| Property, Plant & Equipment | 113.28M | 130.16M | 96.96M | 89.31M | 110.4M | 79.75M | 86.4M | 82.56M | 57.03M | 54.3M | 58.44M | 56.62M | 64.02M | 72.64M | 86.91M | 81.11M | 67.77M | 38.97M | 22.29M | 24.59M | 26.02M | 18.9M | 17.58M | 10.96M | 13.28M | 15.86M | 6.72M | 4M | 4M | 4.3M | 2.3M |
| Fixed Asset Turnover | 5.92x | 5.44x | 5.74x | 5.16x | 4.12x | 4.12x | 2.85x | 2.71x | 4.05x | 7.24x | 5.76x | 5.23x | 4.63x | 3.74x | 2.69x | 3.85x | 4.77x | 2.90x | 6.39x | 7.32x | 7.51x | 8.32x | 8.24x | 10.78x | 7.27x | 7.39x | 10.75x | 10.85x | 9.48x | 6.05x | 4.91x |
| Goodwill | 286.81M | 286.81M | 286.81M | 286.81M | 292.04M | 278.81M | 183.22M | 183.47M | 207.18M | 209.66M | 204.79M | 116.9M | 116.9M | 116.9M | 124.97M | 115.15M | 18.15M | 15.25M | 4.45M | 4.45M | 3.31M | 3.31M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 8.49M | 10.17M | 17.06M | 28.77M | 50.88M | 58.42M | 36.49M | 54.9M | 59.94M | 91.72M | 132.39M | 64.27M | 89.37M | 117.17M | 153.17M | 181.96M | 40.99M | 21.96M | 7.24M | 13.44M | 18.7M | 23.65M | 21.77M | 13.18M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 23.2M | 113.58M | 115.58M | 94.8M | 29.03M | 127.26M | 241.23M | 353.28M | 504.83M | 4.54M | 2.75M | 2.17M | 2.61M | 3.5M | 3.13M | 6.54M | 5.36M | 7.68M | 5.59M | 5.91M | 15.65M | 200.81M | 104.9M | 129.79M | 88.22M | 34.41M | 69.97M | 9.2M | 15.2M | 2.8M | 500K |
| Total Assets | 1.53B | 1.53B | 1.34B | 1.26B | 1.01B | 1.23B | 1.25B | 1.34B | 1.36B | 891.07M | 783.5M | 718.02M | 588.28M | 713.38M | 587.81M | 693.65M | 663.17M | 555.87M | 397.37M | 627.35M | 604.62M | 515.95M | 376.72M | 293.09M | 232.96M | 237.79M | 219.63M | 113M | 111M | 87.9M | 12.9M |
| Asset Turnover | 0.49x | 0.46x | 0.41x | 0.37x | 0.45x | 0.27x | 0.20x | 0.17x | 0.17x | 0.44x | 0.43x | 0.41x | 0.50x | 0.38x | 0.40x | 0.45x | 0.49x | 0.20x | 0.36x | 0.29x | 0.32x | 0.30x | 0.38x | 0.40x | 0.41x | 0.49x | 0.33x | 0.38x | 0.34x | 0.30x | 0.88x |
| Asset Growth % | 54.76% | 13.88% | 6.75% | 24.26% | -17.85% | -1.5% | -6.85% | -1.3% | 52.75% | 13.73% | 9.12% | 22.05% | -17.54% | 21.36% | -15.26% | 4.6% | 19.3% | 39.89% | -36.66% | 3.76% | 17.18% | 36.96% | 28.54% | 25.81% | -2.03% | 8.27% | 94.36% | 1.8% | 26.28% | 581.4% | -29.51% |
| Total Current Liabilities | 101.83M | 120.57M | 81.81M | 89.12M | 126.71M | 267.27M | 85.86M | 86.18M | 69.28M | 132.84M | 51.3M | 28.37M | 34.66M | 212.84M | 54.13M | 65.31M | 55.81M | 186.19M | 35.49M | 56.15M | 218.44M | 20.61M | 36.72M | 34.98M | 21.57M | 22.38M | 33.19M | 33.1M | 32.2M | 31M | 15.1M |
| Accounts Payable | 35.29M | 35.91M | 18.52M | 18.07M | 24.82M | 11.28M | 8.99M | 9.55M | 7.39M | 9.61M | 9.79M | 4.1M | 6.96M | 7M | 7.92M | 16.57M | 5.95M | 8.97M | 6.37M | 11.28M | 10.43M | 4.37M | 6.88M | 2.78M | 3.95M | 1.56M | 1.85M | 3.5M | 500K | 400K | 1.2M |
| Days Payables Outstanding | 52.41 | 77.08 | 49.45 | 46.35 | 64.34 | 41.83 | 35.84 | 44.89 | 45.47 | 40.8 | 47.96 | 31.27 | 55.65 | 49.45 | 40.19 | 107.65 | 98.28 | 159.58 | 109.21 | 151.83 | 125.25 | 67.27 | 124.03 | 63.52 | 189.72 | 57.84 | 83.9 | 140.38 | 29.44 | 42.94 | 121.67 |
| Short-Term Debt | 0 | 0 | 0 | 0 | 10.38M | 163.69M | 0 | 0 | 0 | 78.45M | 0 | 0 | 0 | 164.05M | 0 | 0 | 0 | 136.03M | 0 | 0 | 160M | 0 | 0 | 0 | 0 | 0 | 0 | 29.5M | 100K | 400K | 800K |
| Deferred Revenue (Current) | 66.37M | 0 | 19.9M | 17.39M | 23.86M | 24.75M | 10.2M | 11.95M | 19.37M | 18.27M | 16.93M | 5.78M | 4.13M | 0 | 8.11M | 0 | 0 | 320K | 1.79M | 2.76M | 6M | 973K | 19.27M | 24.18M | 11.09M | 14.4M | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 19.6M | 56.3M | 17.31M | 26.6M | 23.99M | 20M | 18.56M | 18.89M | 9.19M | 9.16M | 10.4M | 6.21M | 8.72M | 7.88M | 0 | 0 | 31.63M | 31.54M | 8.07M | 0 | 0 | 0 | 200K | 53K | 21K | 183K | 31.34M | 100K | 31.6M | 30.2M | 13.1M |
| Current Ratio | 9.82x | 8.20x | 8.44x | 7.08x | 4.16x | 2.56x | 8.15x | 7.71x | 7.62x | 2.80x | 4.23x | 11.13x | 9.08x | 1.87x | 3.97x | 4.61x | 9.46x | 2.52x | 10.03x | 8.24x | 2.03x | 8.25x | 4.28x | 2.73x | 4.45x | 6.40x | 4.31x | 3.02x | 2.85x | 2.61x | 0.67x |
| Quick Ratio | 9.25x | 7.84x | 7.89x | 6.67x | 4.00x | 2.53x | 7.98x | 7.60x | 7.52x | 2.76x | 4.12x | 11.09x | 9.08x | 1.87x | 4.00x | 4.61x | 9.46x | 2.52x | 10.05x | 8.24x | 2.03x | 8.25x | 4.28x | 2.73x | 4.45x | 6.40x | 4.31x | 3.02x | 2.85x | 2.61x | 0.67x |
| Cash Conversion Cycle | 120.92 | 101.48 | 166.69 | 152.27 | 135.17 | 189.38 | 268.85 | 374.66 | 355.31 | 5.14 | 2.51 | -2.81 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 38.08M | 44.55M | 140.63M | 131M | 106.59M | 102.98M | 252.84M | 281.89M | 279.76M | 186.9M | 179.41M | 164.6M | 162M | 160.31M | 212.08M | 198.55M | 272.58M | 114.35M | 139.8M | 164.11M | 3.89M | 169.91M | 4.55M | 18.02M | 15.9M | 24.06M | 24.12M | 14.6M | 37M | 30.2M | 9.9M |
| Long-Term Debt | 0 | 18.67M | 0 | 0 | 0 | 0 | 156.03M | 148.79M | 178.23M | 172.71M | 164.2M | 159.53M | 154.15M | 148.98M | 193.47M | 133.49M | 121.5M | 112.01M | 136.95M | 160M | 0 | 160M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 100K | 500K |
| Capital Lease Obligations | 77.97M | 18.67M | 24.53M | 26.25M | 29.08M | 29.1M | 34.3M | 39.89M | 36.3M | 37.26M | 38.03M | 0 | 39.06M | 0 | 45.92M | 43.79M | -85.6M | 0 | -1.86M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 4.46M | 24.96M | 23.98M | 14.28M | 13.85M | 18.96M | 9.83M | 11.6M | 162.49M | 536K | 4.8M | 4.46M | 7.53M | 2.97M | 2.03M | 1.86M | 116.21M | 98.71M | 69.06M | 75.3M | 43.56M | 35.53M | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 21.04M | 7.2M | 116.1M | 100.29M | 52.55M | 49.9M | 48.23M | 79.37M | 46.27M | -33.16M | -34.41M | 3.6M | -31.22M | 11.33M | -27.31M | 13.73M | -75.92M | 304K | 907K | 4.11M | 3.89M | 69.06M | 75.3M | 0 | 0 | 24.06M | 24.12M | 14.6M | 37M | 30.1M | 9.4M |
| Total Liabilities | 139.91M | 165.12M | 222.44M | 220.13M | 233.3M | 370.25M | 338.7M | 368.07M | 349.04M | 319.74M | 230.71M | 192.97M | 196.66M | 373.15M | 266.22M | 263.86M | 328.39M | 300.54M | 175.29M | 220.26M | 222.33M | 190.52M | 41.27M | 53.01M | 37.47M | 46.43M | 57.31M | 47.7M | 69.2M | 61.2M | 25M |
| Total Debt | 23.4M | 43.65M | 30.15M | 30.71M | 44.48M | 198.78M | 195.06M | 195.03M | 178.23M | 251.16M | 164.2M | 158.04M | 154.15M | 313.02M | 193.47M | 177.29M | 121.5M | 248.04M | 125.47M | 160M | 160M | 160M | 0 | 0 | 0 | 0 | 0 | 29.5M | 100K | 500K | 1.3M |
| Net Debt | -110.92M | -139.17M | -69.62M | -64.06M | -80.85M | 90.89M | 66.09M | 92.86M | 62.31M | 25.32M | 28.9M | 14.28M | 26K | -25.67M | 44.49M | 15.04M | -93.76M | -41.03M | 9.23M | 40.61M | 86.7M | 117.61M | -48.31M | -42.01M | -21.45M | -44.2M | -63.09M | 24M | -25.7M | -20.1M | 600K |
| Debt / Equity | 0.02x | 0.03x | 0.03x | 0.03x | 0.06x | 0.23x | 0.21x | 0.20x | 0.18x | 0.44x | 0.30x | 0.30x | 0.39x | 0.92x | 0.60x | 0.41x | 0.36x | 0.97x | 0.54x | 0.39x | 0.42x | 0.49x | - | - | - | - | - | 0.45x | 0.00x | 0.02x | - |
| Debt / EBITDA | 0.08x | 0.15x | 0.14x | 0.21x | 0.35x | 2.68x | 30.38x | - | - | 2.24x | 1.68x | 1.48x | 1.39x | 3.66x | 5.23x | 1.68x | 0.85x | - | - | - | 4.38x | 2.82x | - | - | - | - | - | 2.32x | 0.01x | 0.13x | - |
| Net Debt / EBITDA | -0.38x | -0.48x | -0.32x | -0.45x | -0.64x | 1.22x | 10.29x | - | - | 0.23x | 0.30x | 0.13x | 0.00x | -0.30x | 1.20x | 0.14x | -0.66x | - | - | - | 2.37x | 2.08x | -0.68x | -1.28x | -0.59x | -0.96x | -2.00x | 1.89x | -2.38x | -5.03x | - |
| Interest Coverage | 217.32x | 206.36x | 142.27x | 126.61x | -3.18x | 3.18x | -2.53x | -7.83x | -3.34x | 3.99x | 2.78x | 5.85x | 3.02x | 0.63x | -3.29x | -0.21x | 11.56x | -3.43x | -4.21x | -4.39x | - | - | - | - | - | - | 0.17x | - | - | - | - |
| Total Equity | 1.39B | 1.36B | 1.12B | 1.04B | 779.3M | 862.4M | 912.71M | 975.37M | 1.01B | 571.58M | 552.78M | 526.53M | 391.62M | 340.23M | 321.59M | 429.79M | 334.78M | 255.33M | 232.94M | 407.08M | 382.29M | 323.47M | 335.46M | 240.08M | 195.49M | 191.36M | 162.32M | 65.3M | 41.8M | 26.7M | -12.1M |
| Equity Growth % | 85.24% | 21.75% | 7.96% | 33.21% | -9.64% | -5.51% | -6.42% | -3.63% | 77.07% | 3.4% | 4.99% | 34.45% | 15.11% | 5.79% | -25.17% | 28.38% | 31.12% | 9.61% | -42.78% | 6.49% | 18.18% | -3.57% | 39.73% | 22.81% | 2.16% | 17.89% | 148.58% | 56.22% | 56.55% | 320.66% | -53.16% |
| Book Value per Share | 12.70 | 12.44 | 10.28 | 9.36 | 7.12 | 7.51 | 8.06 | 8.79 | 9.33 | 5.19 | 4.89 | 4.48 | 3.33 | 3.03 | 2.90 | 3.91 | 3.20 | 2.44 | 2.23 | 3.91 | 3.71 | 3.12 | 3.09 | 2.29 | 1.91 | 1.81 | 1.68 | 0.65 | 0.43 | 0.27 | -0.55 |
| Total Shareholders' Equity | 1.39B | 1.36B | 1.12B | 1.04B | 779.3M | 862.4M | 912.71M | 975.37M | 1.01B | 571.58M | 552.78M | 526.53M | 391.62M | 340.23M | 321.59M | 429.79M | 334.78M | 255.33M | 232.94M | 407.08M | 382.29M | 323.47M | 335.46M | 240.08M | 195.49M | 191.36M | 162.32M | 65.3M | 41.8M | 26.7M | -12.1M |
| Common Stock | 0 | 1.36B | 107K | 108K | 108K | 109K | 112K | 112K | 109K | 110K | 111K | 109K | 115K | 113K | 112K | 110K | 103K | 106K | 104K | 105K | 104K | 99K | 103K | 99K | 97K | 100K | 97K | 0 | 0 | 0 | 0 |
| Retained Earnings | 0 | 0 | -153.66M | -285.53M | -513.26M | -435.23M | -357.75M | -290.24M | -204.29M | -636.23M | -615.05M | -604.32M | -761.53M | -787.73M | -753.98M | -619.64M | -576.59M | -563.86M | -435.71M | -194.97M | -167.4M | -30.97M | -4.85M | -38.41M | -67.16M | -91.86M | -123.13M | -14.5M | -25.7M | -32.5M | -34.5M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | -1.26M | -1.27M | -4.96M | -1.45M | -81K | -92K | -10.29M | -5.1M | -13.51M | 373K | -402K | -305K | -300K | -389K | -362K | 87K | 869K | 124K | -630K | -1.65M | -878K | 201K | 818K | 207K | -528K | -800K | -9.3M | -6.9M | -5.2M |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Cyclical semiconductor demand exposure
As reported in financial statements, Rambus has maintained a remarkably stable total asset base of approximately $1.5 billion over the last five quarters, signaling that the company is successfully managing its transition toward hardware-centric revenue streams without eroding its underlying financial foundation or long-term solvency metrics.
The consistency in total assets suggests that management is effectively balancing R&D-heavy investments with disciplined capital allocation. This stability implies that the firm is not over-leveraging its balance sheet to chase growth, which is a positive indicator for long-term business quality.
Based on the provided balance sheet data, Rambus maintains a negligible debt-to-equity ratio of 0.02%, which, according to recent SEC filings, underscores a fortress-like capital structure that remains largely unencumbered by interest-bearing obligations despite the firm's ongoing expansion into more capital-intensive data center hardware markets.
The minimal debt load provides the company with significant strategic optionality, allowing it to navigate cyclical semiconductor downturns without the pressure of debt service. This lack of leverage suggests that the firm's growth is funded internally, reinforcing the durability of its cash flow profile.
According to quarterly balance sheet figures, Rambus maintains a current ratio that has consistently exceeded 8.0 over the past year, indicating a substantial liquidity buffer that provides the firm with significant protection against potential shocks in the volatile semiconductor supply chain or unexpected shifts in demand.
This high current ratio suggests that the company is well-positioned to meet its short-term obligations without relying on external financing. Investors should monitor whether this excess liquidity is deployed toward strategic M&A or if it remains idle, potentially impacting overall return on invested capital.
As indicated by the company's reported figures, retained earnings have shown a clear upward trajectory, moving from a deficit of $300.6 million in 2024Q1 to a neutral position by 2026Q1, which suggests that the firm is successfully converting its operational success into tangible shareholder value.
The reversal of the retained earnings deficit is a critical milestone that reflects the cumulative impact of sustained profitability. This trend implies that the business model is maturing, moving away from historical losses toward a more self-sustaining and value-accretive equity profile.
Quick answers to the most common questions about buying RMBS stock.
As of 2025, Rambus Inc. (RMBS) had total assets of $1.53B including $988.8M in current assets.
Rambus Inc. (RMBS) carries total debt of $43.7M, offset by $761.8M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Rambus Inc. (RMBS) has total shareholders' equity (book value) of $1.36B ($12.44 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Rambus Inc. (RMBS) reported a current ratio of 8.20x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.