One-glance verdict
Not enough data
Fair value unavailable
Not enough cash-flow history to value this one with our method.
Fundamentals snapshot
Rivian Automotive, Inc.
RIVN · NMS · Consumer Cyclical · Auto Manufacturers
Current price
$12.01
52-week range
$11.99 - $22.69
Market cap
$17.38B
Balance sheet
Distressed
-13.08x Concerning
Net debt $43.00M. Interest coverage shows how many times profit covers the interest bill.
What stands out
1 Reward
1 Risk
1 rewards · 1 risks
- Reward Revenue grew 9.2% last year.
- Risk Return on equity was -57.5% last year — the company lost money on shareholders' equity.
What this company does
Rivian Automotive, Inc.
Rivian makes cool electric trucks and SUVs for regular people, along with electric delivery vans for businesses like Amazon. Their money comes mostly from selling these vehicles and also from software and services related to them, like subscriptions for advanced driving features or fleet management tools (software and services that help companies track and manage their vehicle fleets). This diversified income stream is important because it shows they're not just reliant on selling cars, but also building a business around owning and using them.
How the company got here
Rivian was founded in 2009 by R.J. Scaringe, who was inspired by a desire to preserve the natural world he loved exploring. [5, 6, 11] Initially, the company focused on sports cars, but it later pivoted to developing electric trucks and SUVs to meet a growing demand for sustainable yet versatile vehicles. [6] Rivian purchased a manufacturing plant in Illinois in 2017 and unveiled its R1T pickup truck and R1S SUV in 2018. [2, 7] The company went public in 2021, a significant milestone that provided capital for its ambitious plans. [10] Rivian has received substantial investments from major companies like Amazon and Volkswagen, which have helped fuel its growth and development. [10, 11]
What it actually does
Rivian designs, manufactures, and sells premium electric vehicles (EVs) for both consumers and commercial clients. [1, 2] The company aims to create vehicles that are not only environmentally friendly but also capable and designed for adventure. [6, 11] Rivian differentiates itself through its focus on product design, integrated software, and a direct-to-consumer sales model, aiming to provide a unique ownership experience. [1, 3]
Automotive
This is Rivian's largest business segment, encompassing the design, manufacturing, and sale of its electric vehicles. [4] It includes their consumer-focused R1T pickup truck and R1S sport utility vehicle (SUV), which are built on a versatile "skateboard" platform. [2, 7] Rivian also produces electric delivery vans (EDVs) for commercial fleet customers, notably with a past collaboration with Amazon. [2, 4] The company is also developing a new, more affordable midsize SUV platform called R2, with plans for further expansion into other vehicle types like the R3 crossover. [2, 3, 5]
Software and Services
This segment represents Rivian's efforts to generate revenue beyond just vehicle sales by offering a suite of digital and support services. [1, 4] This includes developing the vehicle's electrical architecture and software, providing over-the-air updates, and offering features like "Autonomy+" (advanced driver-assistance systems). [1, 2] Rivian also provides services such as vehicle maintenance, software subscriptions, accessories, and financing options to enhance the customer ownership experience. [1] Additionally, the company is developing fleet management software (FleetOS) and is exploring opportunities in autonomous driving technology and licensing its software to other companies. [1, 8, 12, 15]
What management is betting on now
Rivian's current strategy focuses on scaling up its manufacturing capabilities to improve cost efficiency and achieve profitability. [1, 3] A key priority is the successful launch of its new, lower-priced R2 platform, which is intended to attract a broader range of customers. [1, 3] The company is also heavily investing in its software and services offerings, aiming to create high-margin revenue streams, including through a joint venture with Volkswagen. [3, 15] Furthermore, Rivian is committed to advancing its autonomous driving technology and AI capabilities, viewing them as crucial for future competitiveness and potential licensing opportunities. [8, 12]
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.
FY2024 Q3
$-1.15B
FY2024 Q4
$856.00M
FY2025 Q1
$-526.00M
FY2025 Q2
$-398.00M
FY2025 Q3
$-421.00M
FY2025 Q4
$-1.14B
FY2026 Q1
$-1.07B
FY2026 Q2
$-849.00M
Revenue
$1.66B
Net income
$-833.00M
Diluted EPS
-0.63
Operating cash flow
$-487.00M
Free cash flow
$-849.00M
Fetching…
Sources
Revenue
$1.38B
Net income
$-416.00M
Diluted EPS
-0.33
Operating cash flow
$-703.00M
Free cash flow
$-1.07B
Fetching…
Sources
Revenue
$1.29B
Net income
$-811.00M
Diluted EPS
-0.66
Operating cash flow
$-681.00M
Free cash flow
$-1.14B
Fetching…
Sources
Revenue
$1.56B
Net income
$-1.17B
Diluted EPS
-0.96
Operating cash flow
$26.00M
Free cash flow
$-421.00M
Fetching…
Sources
Revenue
$1.30B
Net income
$-1.12B
Diluted EPS
-0.97
Operating cash flow
$64.00M
Free cash flow
$-398.00M
Fetching…
Sources
Revenue
$1.24B
Net income
$-545.00M
Diluted EPS
-0.48
Operating cash flow
$-188.00M
Free cash flow
$-526.00M
Fetching…
Sources
Revenue
$1.73B
Net income
$-744.00M
Diluted EPS
-0.67
Operating cash flow
$1.18B
Free cash flow
$856.00M
Fetching…
Sources
Revenue
$874.00M
Net income
$-1.10B
Diluted EPS
-1.08
Operating cash flow
$-876.00M
Free cash flow
$-1.15B
Fetching…
Sources
Is it cheap or expensive?
Fair value — vs current price $12.01
We couldn't calculate a fair value right now.
Is it drowning in debt?
Distressed
Net debt $43.0M. Interest coverage -13.1x.
Net debt
$43.00M
Interest coverage
-13.08x
Rivian Automotive, Inc.'s profit covers its interest bill about 0.0 times over. which is weaker than most peers shown here and 4 peers sit below 1x, which is the danger zone where profit does not fully cover the interest bill.
Distressed
Worse cushion
Baseline
Better cushion
RIVN
BASELINE
Rivian Automotive, Inc.
Total debt $5.35B Interest coverage -13.08x This is the baseline the peer rows are being compared against.
Total debt $16.08B Interest coverage 14.35x This peer still has a real interest-payment cushion, while RIVN does not.
Total debt $3.66B Interest coverage -36.82x Neither company has much profit cushion over interest right now.
Total debt $163.30B Interest coverage -6.88x Neither company has much profit cushion over interest right now.
Total debt $4.35B Interest coverage -15.86x Neither company has much profit cushion over interest right now.
Total debt $4.03B Interest coverage -6.99x Neither company has much profit cushion over interest right now.
What you should know
The case for and against RIVN
1 Reward
1 Risk
Rewards
-
Revenue grew 9.2% last year.
Risks
-
Return on equity was -57.5% last year — the company lost money on shareholders' equity.
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)
—
Forward P/E
-6.92x
P/B
3.20x
P/S
2.95x
EV/EBITDA
-6.67x
PEG ratio
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Profitability
How much profit each dollar creates
Gross margin
7.5%
Operating margin
-50.4%
Net margin
-55.0%
ROE
-57.5%
ROA
-14.4%
Health
Liquidity and balance-sheet strength
Debt / equity
1.04x
Current ratio
2.10x
Quick ratio
1.57x
Total debt
$5.35B
Total cash
$5.31B
Growth
How the business has been compounding
Revenue TTM
$5.88B
Revenue 5Y CAGR
214.6%
EPS TTM
-2.58
EPS 5Y CAGR
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Cash flow
How much cash the business throws off
Operating CF TTM
$-1.84B
Free CF TTM
$-2.49B
FCF margin
-42.3%
Dividend
Shareholder payout
Yield
0.0%
Payout ratio
—
Last ex-div date
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