Rambus Inc. (RMBS) Financial Ratios
30 years of historical data (1996–2025) · Technology · Semiconductors
EV/EBITDA
↓
47.85
↑+26% vs avg
5yr avg: 37.89
30Y Low8.0·High96.6
P/FCF
↑
42.21
↑+52% vs avg
5yr avg: 27.78
30Y Low10.7·High167.9
P/B Ratio
↑
10.46
↑+82% vs avg
5yr avg: 5.75
30Y Low0.8·High52.1
ROE
↑
18.5%
↓+28% vs avg
5yr avg: 14.5%
30Y Low-93%·High51%
Debt/EBITDA
↓
0.15
↓-79% vs avg
5yr avg: 0.71
30Y Low0.0·High30.4
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
RMBS Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Rambus Inc. trades at 61.6x earnings, 13% below its 5-year average of 70.5x, sitting at the 73rd percentile of its historical range. Compared to the Technology sector median P/E of 27.5x, the stock trades at a premium of 124%. On a free-cash-flow basis, the stock trades at 42.2x P/FCF, 52% above the 5-year average of 27.8x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $14.1B | $10.1B | $5.8B | $7.6B | $3.9B | $3.4B | $2.0B | $1.5B | $832M | $1.6B | $1.6B |
| Enterprise Value | $13.9B | $9.9B | $5.7B | $7.5B | $3.8B | $3.5B | $2.0B | $1.6B | $894M | $1.6B | $1.6B |
| P/E Ratio → | 61.63 | 43.55 | 32.04 | 22.67 | — | 183.69 | — | — | — | — | 229.50 |
| P/S Ratio | 19.88 | 14.25 | 10.36 | 16.41 | 8.62 | 10.28 | 8.03 | 6.82 | 3.60 | 3.99 | 4.63 |
| P/B Ratio | 10.46 | 7.39 | 5.14 | 7.29 | 5.03 | 3.91 | 2.17 | 1.57 | 0.82 | 2.74 | 2.82 |
| P/FCF | 42.21 | 30.26 | 28.83 | 43.86 | 18.68 | 17.27 | 12.70 | 12.52 | 10.94 | 14.52 | 18.55 |
| P/OCF | 39.07 | 28.01 | 25.00 | 38.66 | 17.02 | 16.14 | 10.66 | 11.89 | 9.55 | 13.34 | 16.84 |
P/E links to full P/E history page with 30-year chart
RMBS EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Rambus Inc.'s enterprise value stands at 47.9x EBITDA, 26% above its 5-year average of 37.9x. The Technology sector median is 17.4x, placing the stock at a 175% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 14.05 | 10.23 | 16.27 | 8.44 | 10.56 | 8.30 | 7.24 | 3.87 | 4.05 | 4.71 |
| EV / EBITDA | 47.85 | 34.17 | 26.26 | 52.13 | 30.20 | 46.71 | 318.25 | — | — | 14.19 | 16.24 |
| EV / EBIT | 53.52 | 35.09 | 28.27 | 39.78 | — | 101.99 | — | — | — | 29.11 | 44.85 |
| EV / FCF | — | 29.84 | 28.49 | 43.49 | 18.30 | 17.74 | 13.12 | 13.28 | 11.76 | 14.75 | 18.89 |
RMBS Profitability
Margins and return-on-capital ratios measuring operating efficiency
Rambus Inc. earns an operating margin of 36.8%. Operating margins have expanded from 19.8% to 36.8% over the past 3 years, signaling improving operational efficiency. ROE of 18.5% indicates solid capital efficiency. ROIC of 17.1% represents solid returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 76.0% | 76.0% | 75.4% | 69.1% | 69.0% | 70.0% | 62.8% | 65.3% | 74.3% | 78.1% | 77.9% |
| Operating Margin | 36.8% | 36.8% | 32.2% | 19.8% | 17.6% | 9.1% | -17.0% | -37.7% | -36.7% | 14.5% | 14.1% |
| Net Profit Margin | 32.6% | 32.6% | 32.3% | 72.4% | -3.1% | 5.6% | -16.4% | -40.4% | -68.3% | -5.8% | 2.0% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 18.5% | 18.5% | 16.7% | 36.7% | -1.7% | 2.1% | -4.3% | -9.1% | -19.9% | -4.1% | 1.3% |
| ROA | 16.0% | 16.0% | 13.8% | 29.4% | -1.3% | 1.5% | -3.1% | -6.7% | -14.0% | -2.7% | 0.9% |
| ROIC | 17.1% | 17.1% | 13.3% | 8.2% | 7.3% | 2.3% | -3.1% | -5.9% | -7.6% | 7.3% | 6.4% |
| ROCE | 19.5% | 19.5% | 14.7% | 8.9% | 8.6% | 2.8% | -3.4% | -6.6% | -8.3% | 7.6% | 6.7% |
RMBS Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Rambus Inc. carries a Debt/EBITDA ratio of 0.1x, which is very conservative (95% below the sector average of 2.9x). The company holds a net cash position — cash of $183M exceeds total debt of $44M, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns. Interest coverage of 206.4x signals virtually no risk of debt distress — earnings comfortably cover interest obligations.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.03 | 0.03 | 0.03 | 0.03 | 0.06 | 0.23 | 0.21 | 0.20 | 0.18 | 0.44 | 0.30 |
| Debt / EBITDA | 0.15 | 0.15 | 0.14 | 0.21 | 0.35 | 2.68 | 30.38 | — | — | 2.24 | 1.68 |
| Net Debt / Equity | — | -0.10 | -0.06 | -0.06 | -0.10 | 0.11 | 0.07 | 0.10 | 0.06 | 0.04 | 0.05 |
| Net Debt / EBITDA | -0.48 | -0.48 | -0.32 | -0.45 | -0.64 | 1.22 | 10.29 | — | — | 0.23 | 0.30 |
| Debt / FCF | — | -0.42 | -0.35 | -0.37 | -0.39 | 0.47 | 0.42 | 0.76 | 0.82 | 0.23 | 0.34 |
| Interest Coverage | 206.36 | 206.36 | 142.27 | 126.61 | -3.18 | 3.18 | -2.53 | -7.83 | -3.34 | 3.99 | 2.78 |
Net cash position: cash ($183M) exceeds total debt ($44M)
RMBS Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Rambus Inc.'s current ratio of 8.20x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The quick ratio of 7.84x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory. The current ratio has improved from 7.08x to 8.20x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 8.20 | 8.20 | 8.44 | 7.08 | 4.16 | 2.56 | 8.15 | 7.71 | 7.62 | 2.80 | 4.23 |
| Quick Ratio | 7.84 | 7.84 | 7.89 | 6.67 | 4.00 | 2.53 | 7.98 | 7.60 | 7.52 | 2.76 | 4.12 |
| Cash Ratio | 6.32 | 6.32 | 5.89 | 4.78 | 2.47 | 1.82 | 5.85 | 4.73 | 4.01 | 2.48 | 3.36 |
| Asset Turnover | — | 0.46 | 0.41 | 0.37 | 0.45 | 0.27 | 0.20 | 0.17 | 0.17 | 0.44 | 0.43 |
| Inventory Turnover | 3.86 | 3.86 | 3.06 | 3.94 | 6.74 | 11.60 | 6.33 | 7.70 | 8.76 | 16.67 | 13.23 |
| Days Sales Outstanding | — | 83.91 | 96.97 | 105.91 | 145.32 | 199.76 | 247.04 | 372.13 | 359.12 | 24.04 | 22.88 |
RMBS Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Rambus Inc. returns 0.1% to shareholders annually primarily through share buybacks. The earnings yield of 1.6% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 1.6% | 2.3% | 3.1% | 4.4% | — | 0.5% | — | — | — | — | 0.4% |
| FCF Yield | 2.4% | 3.3% | 3.5% | 2.3% | 5.4% | 5.8% | 7.9% | 8.0% | 9.1% | 6.9% | 5.4% |
| Buyback Yield | 0.1% | 0.1% | 2.0% | 1.3% | 2.6% | 3.0% | 2.5% | 0.0% | 6.0% | 3.2% | 0.0% |
| Total Shareholder Yield | 0.1% | 0.1% | 2.0% | 1.3% | 2.6% | 3.0% | 2.5% | 0.0% | 6.0% | 3.2% | 0.0% |
| Shares Outstanding | — | $110M | $109M | $111M | $109M | $115M | $113M | $111M | $108M | $110M | $113M |
Peer Comparison
Compare RMBS with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 RMBSYou | $14B | 61.6 | 47.9 | 42.2 | 76.0% | 36.8% | 18.5% | 17.1% | 0.1 |
 SSNC | $17B | 22.1 | 9.7 | 10.1 | 48.2% | 22.9% | 11.8% | 8.9% | 3.6 |
 IPGP | $4B | 139.6 | 49.1 | — | 38.0% | 1.3% | 1.5% | 0.6% | — |
 CEVA | $832M | -93.7 | — | 1613.2 | 88.1% | -7.1% | -3.3% | -2.3% | — |
 SLAB | $7B | -109.4 | — | 108.5 | 58.2% | -9.0% | -6.0% | -6.9% | — |
 SITM | $16B | -362.4 | — | 468.4 | 53.6% | -18.5% | -4.6% | -4.9% | — |
 AMBA | $3B | -26.6 | — | 138.5 | 60.5% | -44.4% | -20.9% | -22.5% | — |
 ARM | $252B | 316.4 | 247.8 | 1415.8 | 94.9% | 20.6% | 13.1% | 14.2% | 0.4 |
 QCOM | $203B | 38.5 | 15.2 | 15.8 | 55.4% | 27.9% | 23.3% | 29.1% | 1.2 |
 INTC | $567B | -1918.7 | 51.3 | — | 34.8% | -0.0% | -0.2% | -0.0% | 4.0 |
 IDCC | $7B | 23.6 | 12.9 | 13.5 | 80.3% | 55.3% | 41.5% | 40.9% | 0.9 |
| Technology Median | — | 27.5 | 17.4 | 19.8 | 48.6% | -0.5% | 2.4% | 2.9% | 2.9 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Start ComparisonRMBS — Frequently Asked Questions
Quick answers to the most common questions about buying RMBS stock.
What is Rambus Inc.'s P/E ratio?
Rambus Inc.'s current P/E ratio is 61.6x. The historical average is 66.7x. This places it at the 73th percentile of its historical range.
What is Rambus Inc.'s EV/EBITDA?
Rambus Inc.'s current EV/EBITDA is 47.9x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 28.5x.
What is Rambus Inc.'s ROE?
Rambus Inc.'s return on equity (ROE) is 18.5%. The historical average is 0.2%.
Is RMBS stock overvalued?
Based on historical data, Rambus Inc. is trading at a P/E of 61.6x. This is at the 73th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What are Rambus Inc.'s profit margins?
Rambus Inc. has 76.0% gross margin and 36.8% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does Rambus Inc. have?
Rambus Inc.'s Debt/EBITDA ratio is 0.1x, indicating low leverage. A ratio below 2x is generally considered financially healthy.