A Business at a Glance
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RingCentral, Inc.
RNG
$4.4B
Mkt Cap
$48.31
+25.09%
RingCentral, Inc. (RNG) has a current P/E ratio of 100.6, compared to its historical median P/E of 61.6. The stock is currently considered Expensive based on its historical valuation range.
RingCentral, Inc. (RNG) has a 5-year average return on invested capital (ROIC) of -34.8%. This is below average and may indicate limited pricing power.
RingCentral, Inc. (RNG) has a market capitalization of $4.2B. It is classified as a mid-cap stock.
RingCentral, Inc. (RNG) does not currently pay a regular dividend. However, the company returns capital to shareholders through share buybacks, with a buyback yield of 8.70%.
Based on historical P/E analysis, RingCentral, Inc. (RNG) appears expensive. The current P/E of 100.6 is 63% above its historical median of 61.6.
RingCentral, Inc. (RNG) operates in the Services-Computer Processing & Data Preparation industry, within the Technology sector.
RingCentral, Inc. (RNG) reported annual revenue of $2.5 billion in its most recent fiscal year, based on SEC EDGAR filings.
Over the past 26 years, RingCentral has transformed business communications, leading the shift from on-premises legacy communications to the cloud. Today, the company has an AI-powered, multi-product portfolio including Unified Communications as a Service (“UCaaS”), Contact Center as a Service (“CCaaS”), RingCentral AI solutions, Video and Events. RingCentral’s core tenets include: a) Trust: We provide a carrier-grade, cloud based communications platform that businesses can trust with reliability, security, and privacy; b) Innovation: We plan to invest approximately $250 million in research and development in 2026 to execute through focused and strategic innovation, setting the bar in the industry for many market firsts; c) Partnerships: We have a diverse set of strategic partners, global service providers, channel partners, and third-party developers.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 2.5B | 2.5B | 2.4B | 2.2B | 2.0B | 1.6B |
| Net Income | 84M | 43M | -58M | -165M | -879M | -376M |
| EPS | $0.94 | $0.48 | $-0.63 | $-1.74 | $-9.23 | $-4.10 |
| Free Cash Flow | 601M | 587M | 458M | 376M | 159M | 123M |
| ROIC | 30.1% | 15.7% | - | -15.2% | -117.6% | -22.0% |
| Gross Margin | 71.6% | 71.2% | 70.6% | 69.8% | 67.7% | 71.9% |
| Debt/Equity | 0.00 | -2.19 | -2.87 | -3.16 | -3.47 | 4.27 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 160M | 121M | - | -199M | -649M | -302M |
| Operating Margin | 6.3% | 4.8% | - | -9.0% | -32.7% | -18.9% |
| ROE | 0.0% | -7.6% | 11.1% | 33.5% | - | -116.2% |
| Shares Outstanding | 87M | 90M | 93M | 95M | 95M | 92M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 220M | 296M | 380M | 502M | 674M | 903M | 1.2B | 1.6B | 2.0B | 2.2B | 2.4B | 2.5B | 2.5B |
| Gross Margin | 65.1% | 70.5% | 75.9% | 76.2% | 76.7% | 74.4% | 72.7% | 71.9% | 67.7% | 69.8% | 70.6% | 71.2% | 71.6% |
| R&D | 45M | 53M | 66M | 75M | 101M | 136M | 189M | 310M | 362M | 336M | 329M | 317M | 317M |
| SG&A | 39M | 47M | 55M | 72M | 103M | 142M | 200M | 284M | 293M | 333M | 266M | 258M | 254M |
| EBIT | -45M | -31M | -13M | -5.3M | -16M | -46M | -113M | -302M | -649M | -199M | N/A | 121M | 160M |
| Op. Margin | -20.6% | -10.4% | -3.4% | -1.1% | -2.4% | -5.1% | -9.6% | -18.9% | -32.7% | -9.0% | N/A | 4.8% | 6.3% |
| Net Income | -48M | -32M | -16M | -4.2M | -26M | -54M | -83M | -376M | -879M | -165M | -58M | 43M | 84M |
| Net Margin | -22.0% | -10.8% | -4.3% | -0.8% | -3.9% | -5.9% | -7.0% | -23.6% | -44.2% | -7.5% | -2.4% | 1.7% | 3.3% |
| Non-Recurring | -100K | 995K | 0 | 0 | 0 | 0 | 0 | 0 | 324M | 20M | 13M | 30M | 14M |
| Returns on Capital | |||||||||||||
| ROIC | -50.3% | -28.0% | -11.2% | -2.1% | -5.7% | -7.4% | -5.9% | -22.0% | -117.6% | -15.2% | N/A | 15.7% | 30.1% |
| ROE | -60.4% | -31.1% | -11.8% | -2.1% | -9.6% | -10.1% | -15.7% | -116.2% | N/A | 33.5% | 11.1% | -7.6% | 0.0% |
| ROA | -29.0% | -15.9% | -6.9% | -1.4% | -4.2% | -4.6% | -4.6% | -15.8% | -37.8% | -8.2% | -3.1% | 2.7% | 5.9% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | -11M | 5.1M | 30M | 41M | 72M | 65M | -35M | 152M | 191M | 400M | 483M | 617M | 632M |
| Free Cash Flow | -29M | -9.5M | 15M | 22M | 45M | 37M | -79M | 123M | 159M | 376M | 458M | 587M | 601M |
| Owner Earnings | -55M | -52M | -16M | -17M | -19M | -136M | -363M | -399M | -453M | -360M | -264M | -137M | -177M |
| CapEx | 17M | 15M | 14M | 19M | 27M | 28M | 44M | 29M | 33M | 24M | 25M | 30M | 31M |
| Maint. CapEx | 29M | 35M | 15M | 16M | 23M | 99M | 138M | 193M | 259M | 333M | 409M | 485M | 563M |
| Growth CapEx | 0 | 0 | 0 | 3.3M | 3.9M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 29M | 35M | 15M | 16M | 23M | 99M | 138M | 193M | 259M | 333M | 409M | 485M | 563M |
| CapEx/OCF | N/A | 287.7% | 47.9% | 47.4% | 37.6% | 42.8% | N/A | 19.0% | 17.1% | 5.9% | 5.2% | 4.9% | 4.9% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 0 | 15M | 0 | 0 | 0 | 100M | 311M | 322M | 334M | 366M |
| Buyback Yield | N/A | N/A | N/A | N/A | 0.2% | N/A | N/A | N/A | 3.2% | 9.4% | 9.6% | 12.5% | 8.7% |
| Stock-Based Comp | 16M | 22M | 31M | 42M | 68M | 101M | 190M | 358M | 386M | 427M | 339M | 270M | 246M |
| Debt Repayment | 9.9M | 6.1M | 3.8M | 15M | 741K | 0 | 0 | 0 | 0 | 10M | 20M | 633K | 633K |
| Balance Sheet | |||||||||||||
| Net Debt | -117M | -119M | -265M | -291M | -686M | -211M | 307M | 1.0B | 1.2B | 1.3B | 1.2B | 1.2B | 1.1B |
| Cash & Equiv. | 113M | 138M | 160M | 181M | 566M | 344M | 640M | 267M | 270M | 222M | 243M | 133M | 122M |
| Long-Term Debt | 7.8M | 15M | 312K | 181K | 367M | 387M | 1.4B | 1.4B | 1.6B | 1.5B | 1.3B | 630M | 1.2B |
| Debt/Equity | 0.25 | 0.17 | 0.09 | 0.00 | 1.15 | 0.58 | 4.74 | 4.27 | -3.47 | -3.16 | -2.87 | -2.19 | 0.00 |
| Interest Coverage | -22.5 | -27.5 | -17.2 | -53.9 | -1.0 | -2.2 | -2.3 | -4.7 | -135.1 | -5.5 | N/A | 2.1 | 2.9 |
| Equity | 97M | 110M | 164M | 228M | 318M | 746M | 308M | 339M | -483M | -503M | -551M | -588M | -609M |
| Total Assets | 188M | 215M | 253M | 360M | 894M | 1.5B | 2.2B | 2.6B | 2.1B | 1.9B | 1.8B | 1.5B | 1.4B |
| Total Liabilities | 92M | 105M | 123M | 131M | 577M | 705M | 1.9B | 2.0B | 2.6B | 2.4B | 2.3B | 2.1B | 1.8B |
| Intangibles | N/A | 3.3M | 2.2M | 1.5M | 19M | 127M | 118M | 717M | 528M | 394M | 259M | 135M | 112M |
| Retained Earnings | -178M | -210M | -240M | -210M | -236M | -289M | -372M | -749M | -1.5B | -1.7B | -1.8B | -1.7B | -1.7B |
| Working Capital | 84M | 90M | 90M | 140M | 508M | 255M | 488M | 124M | 143M | 216M | 122M | -453M | 92M |
| Current Assets | 160M | 171M | 206M | 265M | 708M | 536M | 926M | 651M | 796M | 849M | 871M | 765M | 728M |
| Current Liabilities | 76M | 81M | 116M | 125M | 199M | 281M | 438M | 526M | 653M | 633M | 749M | 1.2B | 635M |
| Per Share Data | |||||||||||||
| EPS | -0.72 | -0.46 | -0.22 | -0.06 | -0.33 | -0.64 | -0.94 | -4.10 | -9.23 | -1.74 | -0.63 | 0.48 | 0.94 |
| Owner EPS | -0.83 | -0.75 | -0.21 | -0.24 | -0.24 | -1.62 | -4.11 | -4.35 | -4.76 | -3.80 | -2.86 | -1.52 | -2.04 |
| Book Value | 1.44 | 1.58 | 2.23 | 3.26 | 4.00 | 8.90 | 3.49 | 3.69 | -5.07 | -5.29 | -5.95 | -6.51 | -7.00 |
| Cash Flow/Share | -0.17 | 0.07 | 0.40 | 0.59 | 0.91 | 0.77 | -0.40 | 1.66 | 2.01 | 4.21 | 5.22 | 6.83 | 7.44 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 67.1M | 69.8M | 73.8M | 70.1M | 79.4M | 83.8M | 88.3M | 91.8M | 95.3M | 95.0M | 92.5M | 90.4M | 87.0M |
| Valuation | |||||||||||||
| P/E Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 61.6 | 51.6 |
| P/FCF | N/A | N/A | 99.6 | 156.5 | 140.1 | 381.7 | N/A | 143.2 | 20.0 | 8.8 | 7.3 | 4.5 | 7.0 |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 256.9 | 35.5 | 33.0 |
| Price/Book | 10.2 | 15.2 | 9.4 | 14.9 | 19.9 | 19.0 | 110.9 | 52.0 | N/A | N/A | N/A | N/A | N/A |
| Price/Sales | 4.6 | 4.2 | 4.0 | 4.9 | 8.7 | 11.8 | 19.4 | 16.3 | 3.8 | 1.4 | 1.3 | 1.0 | 1.6 |
| FCF Yield | -2.9% | -0.6% | 1.0% | 0.6% | 0.7% | 0.3% | -0.2% | 0.7% | 5.0% | 11.4% | 13.7% | 22.0% | 14.3% |
| Market Cap | 984M | 1.7B | 1.5B | 3.4B | 6.3B | 14.2B | 34.2B | 17.6B | 3.2B | 3.3B | 3.3B | 2.7B | 4.2B |
| Avg. Price | 15.20 | 17.99 | 20.58 | 35.23 | 73.66 | 127.07 | 260.21 | 283.82 | 78.44 | 32.41 | 33.33 | 28.67 | 48.31 |
| Year-End Price | 14.65 | 23.99 | 20.90 | 48.40 | 79.42 | 168.97 | 387.33 | 192.20 | 33.22 | 34.69 | 36.11 | 29.56 | 48.31 |
RingCentral, Inc. passes 5 of 9 quality checks, suggesting mixed fundamentals.
RingCentral, Inc. trades at 100.6x trailing earnings, compared to its 15-year median P/E of 61.6x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 6.1x vs a median of 8.8x. The company's 5-year average gross margin is 70.3%. Total shareholder yield (buybacks) is 8.7%. At current prices, the estimated annualized return to fair value is +68.0%.
RingCentral, Inc. (RNG) has a net profit margin of 1.7%. This is a modest margin.
RingCentral, Inc. (RNG) generated $587 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
RingCentral, Inc. (RNG) reported earnings per share (EPS) of $0.48 in its most recent fiscal year.
RingCentral, Inc. (RNG) has a return on equity (ROE) of -7.6%. A negative ROE may indicate losses or negative equity.
RingCentral, Inc. (RNG) has a 5-year average gross margin of 70.3%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 15 years of financial data for RingCentral, Inc. (RNG), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
RingCentral, Inc. (RNG) has a book value per share of $-6.51, based on its most recent annual SEC filing.