Cerebras Systems Inc. Class A (CBRS) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Cerebras Systems Inc. Class A stock $74.16, price $89.68, that is 17.3% below the price, quality 52 out of 100. Rating: overvalued. Calculated from audited financials with 6 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 8, 2026.
How to read this chart
6‑month range $81.71 – $311.07 · fair‑value band $51.91 – $96.40 · the $89.68 price screens above the $74.16 fair value. As of Nov 8, 2026.
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Cerebras Systems Inc. operates as an artificial intelligence infrastructure company. It designs and manufactures an AI compute platform that comprises of proprietary systems and software that is delivered in racks for deployment in data centers up to supercomputer scale.
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The company's pioneering wafer-scale engine, a chip encompassing a silicon wafer, designed to enable higher performance and speeds than GPUs for the computational demands of inference, Generative AI, and other AI applications.
Its customers include hyperscalers, foundation model labs, AI-native and digital-native businesses, enterprises, and leaders of Sovereign AI initiatives. The company has operations in the United States, Europe, the Middle East, Africa, and internationally.
Cerebras Systems Inc. was founded in 2015 and is headquartered in Sunnyvale, California.
Stock analysis
Cerebras Systems Inc. Class A (CBRS) currently trades at $89.68, while our model-based Fair Value estimate is $74.16, 17% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of $107.08 per share, and 2 of the 6 models we run sit above the $89.68 price.
Bear case: the Multiples group reads lowest at $42.16, and 4 of the 6 models stay below the price. Data coverage for this calculation is low.
Scenario range: $51.91 (bear) to $96.40 (bull), the price of $89.68 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 52/100 (solid quality), in the Technology sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Cerebras Systems Inc. Class A Common Stock reported revenue of $510M in FY2025 versus $24.6M in FY2022, a compound +174.6%/yr. Reported net income was $238M in FY2025.
Key figures
Market cap $21.8B Large · P/S ratio 32.1 · EPS (TTM) $−5.14 · Net margin −75.3% · Return on equity 18.8% · Return on assets (EBIT) −34.6% (4-year average) · Operating margin −265% · Revenue (TTM) $681M.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 35 out of 100 (low confidence).
What moves the price
For context, the median of 10 Technology peers we cover trades at −7% fair-value upside, at −17%, CBRS screens richer than that median.
Fair Value models
Bear$51.91Fair Value $74.16Bull$96.40
Price $89.68 · Downside -17.3%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
In the last 6 months, 7 officers or directors sold shares worth $415.3M and none bought.
SaleSean LieChief Technology Officer6× since Jun 25, 2026: 991,290 shares, avg. $202.50$200.7MOct 27, 2026
SaleDhiraj MallickChief Operating Officer5× since Jun 25, 2026: 514,334 shares, avg. $201.34$103.6MSep 29, 2026
SaleRobert Patrick Komin Jr.Chief Financial Officer32,500 shares at $203.53$6.6MSep 29, 202610b5-1 plan
SaleYagnesh PatelChief Accounting Officer4× since Jun 25, 2026: 15,973 shares, avg. $189.44$3.0MSep 28, 2026
SaleAndrew D. FeldmanCEO, President, Director4× since Jun 25, 2026: 319,634 shares, avg. $201.02$64.3MSep 4, 2026
SaleSteven VassalloDirector2× since Aug 14, 2026: 100,000 shares, avg. $214.24$21.4MSep 4, 2026
SaleEric VishriaDirector68,268 shares at $229.77$15.7MAug 17, 202610b5-1 plan
Plus 52 other filings such as grants, option exercises or tax withholding. They are not market purchases or sales.
Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.57/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+75.7%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+174.6%
’22
’23
’24
’25
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−726.4% (2022) → −28.5% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: no profitable base year
AI conclusion: High margins from specialized AI inference hardware form the main strength, yet negative equity, weak cash conversion and negative FCF remain the central weaknesses amid heavy customer concentration.
Main risk: Loss of sales to key customers such as former UAE entities or OpenAI could sharply reduce revenue and harm the business.
Bull case: By deepening partnerships with hyperscalers and proving superior performance in memory-intensive inference, the company could expand beyond concentrated customers and establish wafer-scale as a standard complement to GPU clusters.
Bear case: If key customer relationships falter amid geopolitical issues or if TSMC capacity constraints and NVIDIA optimizations persist, revenue could collapse and the specialized architecture might remain niche or unviable at scale.
Cerebras is adding Oracle Cloud as another channel for its fast AI inference alongside existing hyperscaler ties, while its own cloud services have scaled sharply. That diversification comes as the company still depends heavily on a handful of large customers and competes directly with Nvidia in a market where speed and cost both matter. Will these new partnerships broaden its base enough to ease customer concentration, or will execution on capacity and margins remain the bigger constraint?
Compare Cerebras Systems Inc. Class A Common Stock with another stock
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Semiconductors · 369 stocks
Beats the industry median on 3/6 measures
A mixed picture versus its industry peers.
Valuation
Quality Score52 · Below median
Fair Value upside−17.3% · Above median
Profitability
Return on equity (12 months)Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
Return on assets10.2% · Top 25%
Net margin (12 months)−75.3% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)74.3% · Top 25%
Balance sheet
Debt / equityNegative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
Valuation Multiplesvs Semiconductors median · lower = cheaper
P/BNegative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
P/S (12 months)32.06× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)10· sector 0
FUTURE (revenue growth)100· sector 100
PAST (return on equity)0· sector 28
HEALTH (low debt)0· sector 96
DIVIDEND (yield)0· sector 21
PAST 0: with negative equity (buybacks among others) return on equity is not meaningfully computable.
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Cite: Fair Value Calculator (2026). "Cerebras Systems Inc. Class A Common Stock Fair Value". https://www.fairvalue-calculator.com/stock/CBRS
Frequently asked questions
Is Cerebras Systems Inc. Class A (CBRS) overvalued or undervalued?
As of Nov 8, 2026, our model estimates a fair value of $74.16 versus a price of $89.68, about 17% lower (overvalued).
What is the fair value of CBRS?
Our model-based fair value for Cerebras Systems Inc. Class A is $74.16 (as of Nov 8, 2026), built from audited fundamentals. The current price: $89.68.
What is the quality score of CBRS?
Cerebras Systems Inc. Class A has a Quality Score of 52/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Cerebras Systems Inc. Class A (CBRS)?
Our model-based price target is the fair value of $74.16 (as of Nov 8, 2026) from 6 valuation models. Cautious scenario $51.91, optimistic scenario $96.40. It is a calculation from audited fundamentals, not an analyst target.
What is the Cerebras Systems Inc. Class A Common Stock stock forecast for 2026?
Our models put fair value at $74.16, about 17% lower versus a price of $89.68 (overvalued). Cautious scenario $51.91, optimistic scenario $96.40. The calculation is refreshed regularly with new filings.
What is the revenue of Cerebras Systems Inc. Class A (CBRS)?
Cerebras Systems Inc. Class A reported trailing-twelve-month revenue of about $681M (latest available figure, as of Nov 8, 2026).
What is the intrinsic value of Cerebras Systems Inc. Class A (CBRS)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Cerebras Systems Inc. Class A it is $74.16 per share (as of Nov 8, 2026), against a price of $89.68. It is the blended result of 6 valuation models in 3 families (Earnings-Based, Multiples, Growth Earnings).
Is Cerebras Systems Inc. Class A Common Stock stock overvalued or undervalued in 2026?
As of Nov 8, 2026, CBRS trades above its calculated fair value: price $89.68, fair value $74.16, a gap of about −17% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of CBRS?
No. The price is what the market pays today ($89.68); the fair value is what the company's own numbers justify ($74.16). For Cerebras Systems Inc. Class A the two are $15.52 per share apart. That gap is exactly why we show both numbers side by side.
How much is Cerebras Systems Inc. Class A Common Stock worth?
The market values Cerebras Systems Inc. Class A at about $21.8B (market capitalisation, as of Nov 8, 2026). Per share that is $89.68; our models calculate a fair value of $74.16 per share.
What do the bullish and bearish scenarios say about CBRS?
Our models span a range for Cerebras Systems Inc. Class A: cautious scenario $51.91, base $74.16, optimistic $96.40 per share (as of Nov 8, 2026, price $89.68). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Cerebras Systems Inc. Class A (CBRS)?
Balance-sheet figures for Cerebras Systems Inc. Class A (as of Nov 8, 2026): negative equity, so no return on equity and no debt-to-equity ratio. They feed the Quality Score of 52/100, which measures business quality independently of the share price.
Which stocks are comparable to Cerebras Systems Inc. Class A Common Stock?
From the same area (Technology) we also value NVIDIA Corporation, Taiwan Semiconductor Manufacturing Company, Broadcom Inc, Micron Technology, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Cerebras Systems Inc. Class A Common Stock stock attractive at the current price?
The data as of Nov 8, 2026: price $89.68, calculated fair value $74.16 (−17%), Quality Score 52/100, from 6 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of CBRS calculated?
We run Cerebras Systems Inc. Class A through 6 models from 3 families: Earnings-Based, Multiples, Growth Earnings. Every model gets the same audited fundamentals; the fair value of $74.16 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.3% above its aggregate fair value. Cerebras Systems Inc. Class A itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Cerebras Systems Inc. Class A (CBRS)?
The closing price on Nov 6, 2026 was $89.68. Our model-based fair value is $74.16, about 17% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Cerebras Systems Inc. Class A Common Stock right now?
Solid but not exceptional quality (52/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range ($51.91 to $96.40) leaves room in how you read the outcome. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.
Key figures of Cerebras Systems Inc. Class A
How large is the market capitalisation of Cerebras Systems Inc. Class A (CBRS)?
The market capitalisation of Cerebras Systems Inc. Class A is $21.8B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Cerebras Systems Inc. Class A (CBRS)?
The price-to-sales ratio of Cerebras Systems Inc. Class A is 32.1 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Cerebras Systems Inc. Class A (CBRS)?
Earnings per share at Cerebras Systems Inc. Class A are $−5.14. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Cerebras Systems Inc. Class A (CBRS)?
The net margin of Cerebras Systems Inc. Class A is −75.3% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Cerebras Systems Inc. Class A (CBRS)?
The return on equity (ROE) of Cerebras Systems Inc. Class A is 18.8% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Cerebras Systems Inc. Class A (CBRS)?
On an EBIT basis the return on assets of Cerebras Systems Inc. Class A is −34.6% (avg 4y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Cerebras Systems Inc. Class A (CBRS)?
The operating margin of Cerebras Systems Inc. Class A is −265% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Cerebras Systems Inc. Class A (CBRS)?
Revenue at Cerebras Systems Inc. Class A is growing +74.3% versus a year earlier (3y avg +175%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does Cerebras Systems Inc. Class A (CBRS) generate?
The free cash flow of Cerebras Systems Inc. Class A is −$393M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Cerebras Systems Inc. Class A (CBRS) hold?
Cerebras Systems Inc. Class A holds more cash than debt, $440M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Thin data
Nov 8, 2026
