One-glance verdict
Overvalued
$100.79 our estimate vs market $112.41
Wall Street consensus: $120.15 (19.2% higher than our fair-value estimate)
12% above our estimate, beyond the bull case
Fundamentals snapshot
Rubrik, Inc.
RBRK · NYQ · Technology · Software - Infrastructure
Current price
$112.41
52-week range
$42.25 - $127.90
Market cap
$23.14B
Balance sheet
Healthy
-20.05x Concerning
Net cash $598.06M. Interest coverage shows how many times profit covers the interest bill.
What stands out
2 Rewards
0 Risks
2 rewards · 0 risks
View details ↓What this company does
Rubrik, Inc.
Rubrik sells data security software that helps companies back up their digital information and recover it quickly after a cyberattack. The company mainly earns money through software subscriptions, creating a predictable income stream known as recurring revenue (money that comes in at regular intervals, like a monthly bill). This is important because as cyber threats grow, more businesses need services like Rubrik's to keep their data from being lost or held for ransom.
How the company got here
Rubrik was founded in 2014 by several engineers with experience at major tech companies who saw a better way to protect business data. They started by creating a simpler, more modern system for backing up and recovering company information, challenging older, more complicated methods. A key turning point was the company's shift from just being a backup service to focusing heavily on data security, especially in protecting against ransomware attacks. This strategic change, along with its expansion into cloud data management, helped it grow rapidly and led to its initial public offering (IPO), where a company first sells its stock to the public, in April 2024.
What it actually does
Imagine a company's most important information—customer lists, financial records, product designs—is like a treasure chest. Rubrik builds a high-tech, invisible vault around that chest to protect it from being stolen, damaged, or held for ransom by hackers. It creates secure copies of the data, constantly watches for any suspicious activity, and if something bad happens, it can quickly restore everything to how it was. This service works whether the company's data is stored in its own building, in the cloud (on servers owned by companies like Amazon or Microsoft), or across both.
Subscription Software and Services
Rubrik makes almost all of its money by selling subscriptions to its main software platform, the Rubrik Security Cloud. Think of this like a subscription to a home security service; customers pay a recurring fee, usually for one or more years, to have Rubrik continuously protect their data. This single business line includes everything from basic data backup and recovery to more advanced features like detecting data threats and ensuring a company is prepared for a cyberattack. Because it's a subscription, it provides Rubrik with a predictable stream of revenue (money the company earns from sales).
What management is betting on now
Rubrik's leadership is heavily focused on positioning the company as a central player in the era of Artificial Intelligence (AI). They are betting that as companies use AI more, they will need even stronger tools to protect the vast amounts of data that AI systems rely on. A key part of this strategy is to move beyond just data protection and become the main control center for managing data security and recovery in a world full of AI-driven opportunities and threats. The company is also focused on continuing to grow its subscription revenue and improving its financial efficiency to become consistently profitable.
Price history
How the share price has moved
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Loading price history…
Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2025 Q3
$18.03M
FY2025 Q4
$78.01M
FY2026 Q1
$36.80M
FY2026 Q2
$61.23M
FY2026 Q3
$80.75M
FY2026 Q4
$74.50M
FY2027 Q1
$77.41M
FY2027 Q2
$71.25M
Revenue
$427.26M
Net income
$-61.78M
Diluted EPS
-0.30
Operating cash flow
$76.85M
Free cash flow
$71.25M
Fetching…
Sources
Revenue
$387.07M
Net income
$-41.85M
Diluted EPS
-0.21
Operating cash flow
$81.69M
Free cash flow
$77.41M
Fetching…
Sources
Revenue
$377.68M
Net income
$-86.97M
Diluted EPS
-0.44
Operating cash flow
$93.05M
Free cash flow
$74.50M
Fetching…
Sources
Revenue
$350.17M
Net income
$-63.83M
Diluted EPS
-0.32
Operating cash flow
$85.48M
Free cash flow
$80.75M
Fetching…
Sources
Revenue
$309.86M
Net income
$-95.93M
Diluted EPS
-0.49
Operating cash flow
$64.72M
Free cash flow
$61.23M
Fetching…
Sources
Revenue
$278.48M
Net income
$-102.10M
Diluted EPS
-0.53
Operating cash flow
$39.66M
Free cash flow
$36.80M
Fetching…
Sources
Revenue
$258.10M
Net income
$-114.89M
Diluted EPS
5.69
Operating cash flow
$83.60M
Free cash flow
$78.01M
Fetching…
Sources
Revenue
$236.18M
Net income
$-130.91M
Diluted EPS
-0.71
Operating cash flow
$23.09M
Free cash flow
$18.03M
Fetching…
Sources
Is it cheap or expensive?
Fair value $100.79 vs current price $112.41
Wall Street consensus is the average analyst price target: $120.15 (19.2% higher than our fair-value estimate).
Our most-likely fair value is $100.79 a share — about 10.3% below today's price of $112.41, so the stock currently looks expensive (overvalued).
Is it drowning in debt?
Healthy
Net cash $598.1M - more cash than debt. Interest coverage -20.1x.
Net debt
$-598.06M
Interest coverage
-20.05x
Rubrik, Inc.'s profit covers its interest bill about 0.0 times over. which is weaker than most peers shown here and 2 peers sit below 1x, which is the danger zone where profit does not fully cover the interest bill.
Healthy
Worse cushion
Baseline
Better cushion
RBRK
BASELINE
Rubrik, Inc.
Total debt $1.15B Interest coverage -20.05x This is the baseline the peer rows are being compared against.
Total debt $917.65M Interest coverage 27.83x This peer still has a real interest-payment cushion, while RBRK does not.
Total debt $528.37M Interest coverage -22.31x Neither company has much profit cushion over interest right now.
Total debt $2.53B Interest coverage 15.55x This peer still has a real interest-payment cushion, while RBRK does not.
Total debt $820.18M Interest coverage -10.47x Neither company has much profit cushion over interest right now.
What you should know
The case for and against RBRK
2 Rewards
0 Risks
Rewards
-
Revenue grew 17.2% last year.
-
Free cash flow was positive in 2/10 years.
Risks
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
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Forward P/E
146.43x
P/B
-46.64x
P/S
15.00x
EV/EBITDA
-86.28x
PEG ratio
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Profitability
How much profit each dollar creates
Gross margin
80.2%
Operating margin
-16.8%
Net margin
-16.5%
ROE
—
ROA
-6.7%
Health
Liquidity and balance-sheet strength
Debt / equity
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Current ratio
1.64x
Quick ratio
1.46x
Total debt
$1.15B
Total cash
$1.75B
Growth
How the business has been compounding
Revenue TTM
$1.54B
Revenue 5Y CAGR
29.9%
EPS TTM
-1.27
EPS 5Y CAGR
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Cash flow
How much cash the business throws off
Operating CF TTM
$337.06M
Free CF TTM
$253.28M
FCF margin
16.4%
Dividend
Shareholder payout
Yield
0.0%
Payout ratio
—
Last ex-div date
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