Rubrik, Inc. (RBRK) Stock

Rubrik, Inc. (RBRK) is a Technology stock trading at $97.55 (as of 2026-08-20), with a market capitalization of $19.87B. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Rubrik, Inc. provides data security solutions to individuals and businesses worldwide. The company offers enterprise data protection, unstructured data protection, cloud data protection, and SaaS data protection solutions; data threat analytics; data security posture; and cyber recovery solutions. It serves financial, retail, trade, transportation, energy, industrial, healthcare and life science, education, technology, media, communications, and public sectors. Rubrik, Inc. was formerly known as Scaledata, Inc. and changed its name to Rubrik, Inc. in October 2014. The company was incorporated in 2013 and is based in Palo Alto, California.

Understand Rubrik, Inc.: how it makes money

Rubrik provides data security and cyber recovery software, including enterprise and cloud data protection, data threat analytics, and security posture capabilities, sold primarily as subscription offerings that generate subscription and cloud recurring revenue.

Because Rubrik’s revenue is dominated by subscription and cloud recurring arrangements, the path to profitability depends on sustaining strong subscription net retention and new net ARR while operating expenses keep pace, since even a very high gross margin still leaves it with a negative operating margin.

Revenue by segment (latest quarter)
Subscription	$0.4B
Material Rights	$0.0B
Other	$0.0B

Business quality (Solid): Strong recurring-revenue indicators are available (Subscription ARR and Net Retention), but the company is not yet translating high gross margin into operating profit (operating margin is negative), and the provided segment breakdown is limited to a few revenue categories.

Bull case

Recurring growth base: Subscription Annual Recurring Revenue is reported at 1.57 USD_B, and Cloud Annual Recurring Revenue is 1.39 USD_B, showing a large recurring platform.
Retention strength: Subscription Net Retention Rate is reported at 120.0 percent, which supports the idea that existing customers are adding more subscription value over time.
Go-to-market momentum indicators: Net New Subscription Annual Recurring Revenue is reported at 0.1 USD_B, and Competitive Win Rate is reported at 90.0 percent.

Bear case

Not yet profitable at the operating level: Operating margin is reported at -13.6 percent for the latest period, meaning operating costs are exceeding operating gross profit.
Revenue mix is concentrated in subscriptions: Subscription Revenue is 0.37 USD_B out of 0.4 USD_B total revenue, so performance is closely tied to ongoing subscription renewals and expansion.
Gross margin does not guarantee profitability: Gross margin is reported at 80.5 percent, but the operating margin remains negative, implying expense control and scale are key challenges.

Valuation — source: SEC EDGAR (first-party)
Price	$97.55
Market Cap	$19.87B
Price / Sales	13.94
FCF Yield	1.5%
DCF Value (model)	$21.38
DCF Upside vs Price	-78.1%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$1.32B
Net Margin	-26.5%
Revenue Growth (YoY)	39.0%
EPS Growth (YoY)	-60.4%
FCF Growth (YoY)	110.3%

Financial Health — source: SEC EDGAR
Altman Z-Score	2.35 (grey)

Valuation vs Sector & Industry
Sector P/E (Technology)	33.9
Industry P/E (Business Services)	30.0

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	VANGUARD GROUP INC ($1.12B)
Institutional Holders Tracked	10

Company
Sector	Technology
Industry	Business Services
CEO	Bipul Sinha
Employees	3,200
Country	US
IPO Date	2024-04-25

Related Companies (Business model: SaaS / Subscription Software (Enterprise); 8 closest by market cap; US-domiciled)

Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.