Rambus Inc. (RMBS) Stock

Rambus Inc. (RMBS) is a Technology stock trading at $92.19 (as of 2026-08-20), with a market capitalization of $9.97B and a trailing P/E of 43.3. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Rambus Inc. provides semiconductor products in the United States, Taiwan, South Korea, Japan, Europe, Canada, Singapore, China, and internationally. The company offers DDR memory interface chips, including DDR5, DDR4 and DDR3 memory interface chips to module manufacturers and OEMs; silicon IP comprising, interface and security IP solutions that move and protect data in advanced applications; and physical interface and digital controller IP to offer industry-leading, integrated memory and interconnect subsystems. It also provides a portfolio of patents that covers memory architecture, high-speed serial links, and security products. The company markets its products and services through its direct sales force and distributors. Rambus Inc. was incorporated in 1990 and is headquartered in San Jose, California.

Understand Rambus Inc.: how it makes money

Rambus provides semiconductor memory interface chips (including DDR5, DDR4, and DDR3) and silicon IP plus patents for moving and protecting data in advanced applications, and it makes money through product revenue and patent royalties/licensing.

Rambus profit is structurally driven by IP monetization (royalties/licensing) tied to adoption of memory technologies and system designs, with product revenue as a smaller but supporting contributor.

Revenue by segment (latest quarter)
MemIF$0.1B
Royalties$0.1B
RoyalIT$0.0B
Other$0.0B

Business quality (Strong): The business model is clear from the product and IP mix, and the quarter shows very high gross and operating margins, but the provided data does not include full official segment labels or additional operating KPIs beyond licensing and revenue-related metrics.

Valuation: At 55× earnings, RMBS trades in line with the Semiconductors average (51×). Note: one-time items can distort reported P/E.

Bull case

  • IP-led economics: The company reports high gross margin (79.7%) and strong operating margin (34.3%), consistent with a business that includes a patent portfolio and royalties, alongside memory interface chip and IP offerings.
  • Multiple monetization channels: Revenue sources shown here span memory interface chips (DDR memory interface product revenue) and patent-related royalties/licensing, plus additional revenue lines such as Royal IT and Contract and Other.

Bear case

  • Technology adoption dependency: Royalties and licensing (major revenue components in the provided breakdown) are tied to how the market adopts and ships memory and interconnect designs that use Rambus-relevant IP and interface technologies.
  • Customer spending cyclicality: Product revenue comes from sales of memory interface chips and related IP to module manufacturers and OEMs, which can create sensitivity to changes in their purchasing plans.
Valuation — source: SEC EDGAR (first-party)
Price$92.19
Market Cap$9.97B
P/E Ratio43.3
EV / EBITDA36.3
Price / Book7.15
Price / Sales13.82
FCF Yield3.4%
DCF Value (model)$24.55
DCF Upside vs Price-73.4%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$707.63M
Net Margin32.6%
Revenue Growth (YoY)8.1%
EPS Growth (YoY)-1.8%
FCF Growth (YoY)2.9%
Financial Health — source: SEC EDGAR
Altman Z-Score37.88 (safe)
Valuation vs Sector & Industry
Stock P/E43.3
Sector P/E (Technology)33.9
Industry P/E (Electronic Equipment)39.4
vs Sector27.7%
vs Industry10.0%
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderBlackRock, Inc. ($1.40B)
Institutional Holders Tracked10
Congressional Trades (recent)1
Company
SectorTechnology
IndustryElectronic Equipment
CEOLuc Seraphin
Employees712
CountryUS
IPO Date1997-05-14

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RMBS earnings history · RMBS institutional & insider holders · RMBS KPIs & operating metrics · RMBS financials · RMBS investor presentations & press releases · RMBS SEC filings · RMBS peers · Congress trades · Insider trades · Short interest · Stock screener

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.