RingCentral, Inc.

RNG

NYSE · Enterprise Software

$72.07

At close - Nov 6, 4:00 PM EST - USD

Market Cap$6.21B

P/E9.5x

52W High$98.14

Volume1.7M

VCP Research Verdict2026Q3

RingCentral Margin Expansion Faces Decelerating Growth

RingCentral's fundamental profile shows genuine operating leverage, with operating margin improving from -0.9% in 2024Q2 to 8.0% in 2026Q3 on 73.1% gross margins and six consecutive profitable quarters, while free cash flow margin expanded to 23.2% ($156.8M in 2026Q3) and total debt was reduced from $1.6B to $1.0B.

GrowthDecelerating

ProfitabilityModerate

ValuationExpensive

TechnicalsMixed

Explore valuation models

MARKET ACTION

RNG price & volume

Price trend, volume and key moving averages

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Build the investment case

Start with the evidence for owning the stock and the risks that can break the thesis.

EXECUTIVE THESIS

The Investment Case

Full Analysis

Fundamental Trajectory

Revenue growth decelerated to 5.9% in 2026Q3 ($676.0M) from 9.9% in 2024Q2, yet gross margin expanded 290 basis points to 73.1% and operating margin improved from -0.9% to 8.0%, suggesting favorable mix shift toward higher-margin subscriptions.

Analyst Consensus+25.5% target

Buy(42 analysts)

28 Buy14 Hold0 Sell

The Bull Case

Upside Catalysts

All-in-one unified communications platform

RingCentral bundles team messaging, HD video meetings, and phone calling into a single platform, which supports cross-selling and deeper customer wallet share. The unified app lets users call, message, and meet from any device.

AI capabilities as differentiator

The platform is marketed with built-in AI features for business communication, positioning it to capture demand for AI-enhanced collaboration tools. This could support pricing power and upsell opportunities.

Broad small business and enterprise reach

Described as a leading cloud communications provider serving both small businesses and enterprises, RingCentral has a diversified customer base across market segments. This breadth reduces reliance on any single customer cohort.

The Bear Case

Key Downside Risks

Market performance

Price History →

Trailing total returns as of 11/8/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return

RNG+162.67%

S&P 500 (^GSPC)+7.63%

1-Year Return

RNG+168.61%

S&P 500 (^GSPC)+9.69%

3-Year Return

RNG+156.53%

S&P 500 (^GSPC)+62.85%

5-Year Return

RNG-68.60%

S&P 500 (^GSPC)+53.33%

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis

Trailing P/E5Y Low

9.5x

Forward P/E

14.1x

EV/EBITDA33rd %ile

17.6x

FCF YieldCash Flow

11.0%

Valuation vs 5-Year History

Multiple Range

Metric

Current

5Y Median

Historical Range

Percentile

P/E

9.5x

60.2x

0th· Low

EV/EBITDA

17.6x

20.2x

33rd· Fair

Price/FCF

9.1x

9.9x

50th· Fair

Current Multiple

5Y Median (50th %ile)

Intrinsic Value Scenarios

DCF Projection

Bear$55.81-22.6%

Base (Fair)$91.71+27.3%

Bull$131.13+81.9%

$55.81 Bear$91.71 Base$131.13 Bull

Current Market Price: $72.07

Trades at a 21.4% discount to Base DCF ($91.71)

Open DCF & Valuation Models →Chart Terminal ↗

Growth & profitability

Annual revenue & EPS trend

Revenue FY25

$2.52B+4.8% YoY

Net income FY25

$43M+174.4% YoY

Free cash flow FY25

$587M+46.8% YoY

Operating margin FY25

5%+4.9 pts YoY

ROIC (FY25)12.2%

Avg ROIC 5Y-12.2%

ROE (FY25)-

Piotroski Score7 / 9

Financial Statements →

Monitor what changed

Recent results and news deserve attention only when they alter the forward view.

OPERATING RESULTS

Recent Earnings

Earnings History

EPS Beat Rate12/12 (100%)

Revenue Beat Rate7/12 (58%)

Quarter	EPS (Act vs Est)	Revenue (Act vs Est)
Q4 2026Latest Oct 22, 2026	$1.33+3.9% vs $1.28	$676M+1.3% vs $667M
Q3 2026 Jul 23, 2026	$1.22+5.2% vs $1.16	$657M+1.0% vs $651M
Q2 2026 May 7, 2026	$1.20+2.6% vs $1.17	$644M+0.2% vs $643M
Q1 2026 Feb 19, 2026	$1.18+3.5% vs $1.14	$644M+0.1% vs $644M

Historical baseline: 12 quarters analyzedGAAP / Adjusted

MARKET COVERAGE

Latest News

4 Stories

Business Wire·2d ago

Clean Energy Reports Revenue of $112.2 Million and 66.8 Million RNG Gallons Sold for the Third Quarter of 2026

NEWPORT BEACH, Calif.--(BUSINESS WIRE)--Clean Energy Fuels Corp. (NASDAQ: CLNE) (“Clean Energy” or the “Company”) today announced its operating results for the third quarter of 2026. Financial Highlights Revenue of $112.2 million in Q3 2026 compared to $106.1 million in Q3 2025. Net loss attributable to Clean Energy for Q3 2026 was $(5.7) million, or $(0.03) per share, on a GAAP (as defined below) basis, compared to $(23.8) million, or $(0.11) per share, for Q3 2025. Adjusted EBITDA (as defined.

Seeking Alpha·3d ago

Polen 5Perspectives Small Growth Composite Q3 2026 Portfolio Attribution And Activity

The top contributors to the Portfolio's relative performance in the quarter were Twist Bioscience, RingCentral, and Five9. The most significant detractors from the Portfolio's relative performance in the quarter were Terawulf, nLight, and Brookdale Senior Living. The salient changes to positioning this quarter included our increased exposure to Health Care and decreased exposure to Industrials.

Zacks Investment Research·5d ago

Here's Why RingCentral (RNG) is a Strong Momentum Stock

Whether you're a value, growth, or momentum investor, finding strong stocks becomes easier with the Zacks Style Scores, a top feature of the Zacks Premium research service.

Zacks Investment Research·Oct 28, 2026

Why RingCentral (RNG) is a Top Growth Stock for the Long-Term

Wondering how to pick strong, market-beating stocks for your investment portfolio? Look no further than the Zacks Style Scores.

Filtered for RingCentral, Inc.More Headlines

Compare before deciding

Benchmark RNG against direct peers instead of judging its metrics in isolation.

Peers Comparison

Key metrics vs top competitors for RingCentral, Inc. (RNG)

Full Screener →

Company	Price	Market Cap	P/E Ratio	Rev Growth (1Y)	Net Margin	ROE	Div Yield
RNGRingCentral, Inc.Current	$72.07	$6.21B	9.54	4.78%	25.27%	—	—
EGHT8x8, Inc.	$2.13	$302M	42.18	2.89%	0.98%	4.98%	—
BANDBandwidth Inc.	$40.34	$1.3B	184.96	0.71%	1.01%	2.24%	—
LUMNLumen Technologies, Inc.	$3.99	$4.11B	-6.00	-5.39%	-5.83%	-36.54%	0.03%
FIVNFive9, Inc.	$28.12	$2.15B	38.80	10.28%	4.51%	6.92%	—
NICENICE Ltd.	$96.15	$5.63B	15.16	7.68%	12.01%	9.91%	—

Compare RNG vs Peers

RingCentral, Inc. (RNG) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs EGHT

Most directly comparable listed peer for RNG.

Scale Benchmark

vs MSFT

Larger-name benchmark to compare RNG against a more recognizable public peer.

Peer Set

Compare Top 5

vs EGHT, BAND, LUMN, FIVN

Keep researching

Verify the primary filings, follow material updates, and answer the remaining questions.

RNG SEC Filings & Documents

RingCentral, Inc. (RNG) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

Material company update

Oct 22, 2026·SEC

Material company update

Oct 9, 2026·SEC

Material company update

Sep 28, 2026·SEC

10-K Annual Reports

FY 2026

Feb 27, 2026·SEC

FY 2025

Feb 26, 2025·SEC

FY 2024

Feb 22, 2024·SEC

10-Q Quarterly Reports

FY 2026

Oct 23, 2026·SEC

FY 2026

Jul 23, 2026·SEC

FY 2026

May 11, 2026·SEC

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RNG Frequently Asked Questions

RingCentral, Inc. (RNG) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

What is RingCentral, Inc.'s revenue?

RingCentral, Inc. (RNG) reported $2.62B in revenue over the trailing twelve months. Revenue was $2.52B in fiscal year 2025. That is 3089% more than the $78.9M of fiscal year 2011.

How fast is RingCentral, Inc. growing?

RingCentral, Inc. (RNG) grew revenue by 5.5% over the trailing twelve months, compared with the twelve months before.

Is RNG profitable?

Yes. RingCentral, Inc. (RNG) earned $662.4M in net income over the trailing twelve months (a 25.3% net margin).

Dividend & Returns

What is RingCentral, Inc.'s free cash flow?

RingCentral, Inc. (RNG) generated $684.3M in free cash flow over the trailing twelve months.

What if you invested $1,000 in RNG back in 2011?

Total return calculator · dividends reinvested · 15+ years of data

See returns →

RingCentral Margin Expansion Faces Decelerating Growth

Quarter

EPS (Act vs Est)

Revenue (Act vs Est)

Q4 2026Latest

Oct 22, 2026

$1.33+3.9%

vs $1.28

$676M+1.3%

vs $667M

Q3 2026

Jul 23, 2026

$1.22+5.2%

vs $1.16

$657M+1.0%

vs $651M

Q2 2026

May 7, 2026

$1.20+2.6%

vs $1.17

$644M+0.2%

vs $643M

Q1 2026

Feb 19, 2026

$1.18+3.5%

vs $1.14

$644M+0.1%

vs $644M

Company

Price

Market Cap

P/E Ratio

Rev Growth (1Y)

Net Margin

ROE

Div Yield

RNGRingCentral, Inc.Current

$72.07

$6.21B

9.54

4.78%

25.27%

—

EGHT8x8, Inc.

$2.13

$302M

42.18

2.89%

0.98%

4.98%

—

BANDBandwidth Inc.

$40.34

$1.3B

184.96

0.71%

1.01%

2.24%

—

LUMNLumen Technologies, Inc.

$3.99

$4.11B

-6.00

-5.39%

-5.83%

-36.54%

0.03%

FIVNFive9, Inc.

$28.12

$2.15B

38.80

10.28%

4.51%

6.92%

—

NICENICE Ltd.

$96.15

$5.63B

15.16

7.68%

12.01%

9.91%

—