Rambus Inc. (RMBS) AI Stock Analysis

Rambus Inc. provides semiconductor products and intellectual property (IP) solutions across global markets, including the United States, Asia, and Europe. Headquartered in San Jose, California, the company offers DDR memory interface chips spanning DDR5, DDR4, and DDR3 technologies for module manufacturers and original equipment manufacturers. Rambus also develops silicon IP, including interface and security IP, as well as physical interface and digital controller IP for memory and interconnect subsystems. Its operations are anchored by a patent portfolio covering memory architecture, high-speed serial links, and security technologies, distributed via direct sales teams and distributors.

Rambus grew annual revenue from $328.3M in FY2021 to $454.8M in FY2022, $461.1M in FY2023, $556.6M in FY2024, and $707.6M in FY2025, generating a 5-year revenue CAGR of 23.5% from FY2020 to FY2025. Gross margin expanded from 70.0% in FY2021 to 76.0% in FY2025, while operating margin rose from 9.1% to 36.8%. Net income reached $230.5M in FY2025 with diluted EPS of $2.45, up from net income of -$14.3M in FY2022. Operating cash flow was $360.0M and free cash flow was $333.2M in FY2025. In the latest quarter ended June 30, 2026, quarterly revenue grew 20.4% year-over-year and quarterly earnings rose 15.1%.

As of June 30, 2026, Rambus held $824.9M in cash and short-term investments and $21.8M in total debt, resulting in net cash of $803.1M. Shareholders' equity was $1.47B against total assets of $1.61B, with a current ratio of 9.75 and a debt-to-equity ratio of 0.01. During FY2025, the company directed $26.8M toward capital expenditures and $7.1M toward share buybacks. Its 5-year share count change was -4.4%.

With a market cap of $9.46B and enterprise value of $10.42B, Rambus closed at $87.25 on October 16, 2026. The stock trades at a trailing P/E of 40.0x and a forward P/E of 24.2x, above the medians of 28.1x and 18.8x for its US-listed Technology peers. Its EV to EBITDA is 23.6x compared to the peer median of 16.6x, and price-to-sales stands at 12.5x versus the peer median of 2.8x. Over the past year, RMBS fell 11.1%, trailing the S&P 500 return of 16.8%, while its 5-year return of 293.0% outperformed the S&P 500 return of 83.0%.

Consensus ratings for Rambus consist of 6 Strong Buy ratings, 0 Buy ratings, 2 Hold ratings, and 0 Sell or Strong Sell ratings. The mean price target is $141.57, which is 62.3% above the last close of $87.25. For the fiscal year ending December 31, 2026, analysts estimate revenue of $828.3M and EPS of $3.04. For the following fiscal year, 8 analysts project revenue of $997.6M and EPS of $3.77. Rambus beat EPS estimates in 1 of the last 4 quarters, and its next earnings date is October 26, 2026.

This page is an AI-written research summary of Rambus Inc. (RMBS). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

Related: RMBS income statement, RMBS balance sheet, RMBS key metrics, RMBS analyst forecast, RMBS chart. See the RMBS stock overview for the latest quote and news.