Rambus Inc (RMBS) fair value: what the stock is really worth
As of Nov 5, 2026: fair value (intrinsic value) of Rambus Inc stock $92.41, price $69.68, upside +32.6%, quality 78 out of 100. Rating: undervalued. Calculated from audited financials with 24 of our 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 4, 2026.
How to read this chart
60‑month range $20.59 – $170.66 · fair‑value band $58.70 – $121.97 · the $69.68 price screens below the $92.41 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. As of Nov 4, 2026.
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Rambus Inc. manufactures and sells semiconductor products in the United States, South Korea, Singapore, and internationally.
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It offers memory interface chips comprising DDR5 memory interface chips which include registering clock driver, multiplexed registering clock driver, multiplexed data buffer, power management integrated circuits, serial presence detect hubs, temperature sensors, and client clock driver products; and DDR4 memory interface chips.
The company also provides silicon IP, such as interface and security IP solutions that move and protect data in advanced artificial intelligence, data center, government, and automotive applications; interface IP solutions for high-speed memory and chip-to-chip digital controller IP; security IP solutions, including crypto cores, hardware roots of trust, high-speed protocol engines, and chip provisioning technologies.
In addition, it offers portfolio of patents that covers memory architecture, high-speed serial links, and security products. The company sells its products to memory module manufacturers, OEMs and hyperscalers, as well as to chip makers.
It 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.
Stock analysis
Rambus Inc (RMBS) currently trades at $69.68, while our model-based Fair Value estimate is $92.41, implying the stock looks roughly 25% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of $55.66 per share, and 2 of the 24 models we run sit above the $69.68 price.
Bear case: the Economic Profit group reads lowest at $15.33, and 22 of the 24 models stay below the price. Data coverage for this calculation is medium.
Scenario range: $58.70 (bear) to $121.97 (bull), the price of $69.68 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 78/100 (high quality), in the Technology sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Rambus Inc reported revenue of $708M in FY2025 versus $328M in FY2021, a compound +21.2%/yr. Reported net income was $230M in FY2025, compounding +88.3%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.
Key figures
Market cap $7.4B Mid · P/E ratio 28.8 · P/S ratio 9.73 · EPS (TTM) $2.42 · Net margin 31.7% · Return on equity 17.8% · Return on assets (EBIT) 9.6% · Operating margin 36.7%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 85 out of 100 (low confidence).
What moves the price
The share trades about 59% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Technology peers we cover trades at 0% fair-value upside, at 33%, RMBS screens cheaper than that median.
Fair Value models
Bear$58.70Fair Value $92.41Bull$121.97
Price $69.68 · Upside +32.6%
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. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then ($2.06 per share) are deliberately not added.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 $12.9M and none bought.
SaleCharles KissnerDirector3× since Aug 7, 2026: 15,000 shares, avg. $105.64$1.6MOct 2, 202610b5-1 plan
SaleNecip SayinerDirector2× since May 8, 2026: 14,824 shares, avg. $143.66$2.1MJun 3, 2026
SaleEmiko HigashiDirector2× since May 26, 2026: 15,000 shares, avg. $159.52$2.4MJun 2, 2026
SaleEric B StangDirector2× since Nov 7, 2025: 14,000 shares, avg. $120.64$1.7MJun 1, 2026
SaleXianzhi Sean FanEVP, COO37,914 shares at $151.69$5.8MMay 26, 2026
SaleJohn ShinnSVP, General Counsel3× since Mar 3, 2026: 10,113 shares, avg. $96.31$973,977May 22, 2026
SaleSteven LaubDirector1,500 shares at $125.52$188,280May 7, 2026
SaleMeera RaoDirector2× since Apr 14, 2026: 11,510 shares, avg. $126.40$1.5MApr 24, 202610b5-1 plan
SaleLuc SeraphinPresident and CEO, Director2× since Mar 2, 2026: 45,340 shares, avg. $97.20$4.4MApr 2, 202610b5-1 plan
SaleDesmond LynchSVP, CFO4,273 shares at $101.53$433,838Feb 23, 202610b5-1 plan
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.80/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+27.1%
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.
+15.9%
Revenue growth 5 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.
+23.5%
Start year 2020 (pandemic). Over 10 years: +9.1% a year
Revenue growth 33 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.
+19.6%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: adjusted.
+73.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year+73.1%
Dividend (yield on the price)0.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.67.4% vs 25.2%, picking up
Profit margin 2020 to 2025 ⓘ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.−17% → 37%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
Price in line with expectations
The price assumes less growth than the company has delivered so far and about what analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+15.7%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+17.3%
Yearly sales growth analysts expect, extended to five years.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +13.0% a year for the price and +14.6% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (96 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Positive
Recent news coverage is more positive than average.
AI conclusion: Strong IP foundation supports high margins and cash conversion, while limited public signals on broader moat factors and adoption uncertainties in new architectures mark the key weakness.
Main risk: Montage Technology and Renesas could capture more market share in DDR5 memory interfaces and thereby reduce Rambus product revenues and margins.
Bull case: Rambus could leverage its MRDIMM and HBM IP leadership to expand into new AI architectures and maintain or grow its position despite rivals.
Bear case: If rivals continue to gain share, Rambus product revenue growth could slow as customers shift to cheaper or alternative interface solutions.
Rambus positions itself in the shift to memory pooling in AI data centers, where next-generation MRDIMM technology could raise the value of its components per server through higher speeds and efficiency. This structural change promises stronger growth and margins, yet it also introduces uncertainty around adoption speed and competitive pressures on the core interface business. Will the gains from these new architectures outweigh any challenges in the existing product lines?
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 · 371 stocks
Beats the industry median on 9/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score78 · Top 25%
Fair Value upside+32.6% · Top 25%
Profitability
Return on equity (12 months)17.8% · Above median
Return on assets15.1% · Top 25%
Net margin (12 months)31.7% · Top 25%
Operating margin (12 months)36.7% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)20.4% · Above median
Balance sheet
Debt / equity0.11× · Above median
Valuation Multiplesvs Semiconductors median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Rambus Inc Fair Value". https://www.fairvalue-calculator.com/stock/RMBS
Frequently asked questions
Is Rambus Inc (RMBS) overvalued or undervalued?
As of Nov 4, 2026, our model estimates a fair value of $92.41 versus a price of $69.68, about +33% upside (undervalued).
What is the fair value of RMBS?
Our model-based fair value for Rambus Inc is $92.41 (as of Nov 4, 2026), built from audited fundamentals. The current price: $69.68.
What is the quality score of RMBS?
Rambus Inc has a Quality Score of 78/100. 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 Rambus Inc (RMBS)?
Our model-based price target is the fair value of $92.41 (as of Nov 4, 2026) from 24 valuation models. Cautious scenario $58.70, optimistic scenario $121.97. It is a calculation from audited fundamentals, not an analyst target.
What is the Rambus Inc stock forecast for 2026?
Our models put fair value at $92.41, about +33% upside versus a price of $69.68 (undervalued). Cautious scenario $58.70, optimistic scenario $121.97. The calculation is refreshed regularly with new filings.
What is the revenue of Rambus Inc (RMBS)?
Rambus Inc reported trailing-twelve-month revenue of about $756M (latest available figure, as of Nov 4, 2026).
What growth is priced into Rambus Inc (RMBS)?
For today's price to be fair in a discounted-cash-flow model, Rambus Inc would have to grow free cash flow by +15.7 % per year for five years (discount rate 11.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +23.5 % per year. As of Nov 4, 2026.
What discount rate (WACC) does the fair value of RMBS use?
Our models discount Rambus Inc at 11.8 %: a base by market capitalisation (mid), damped by beta 1.85, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Rambus Inc that is +15.7 % per year a year over ten years, using the same discount rate (11.8 %) and the same formula as our fair value.
How much growth has Rambus Inc (RMBS) delivered so far?
Over the past 5 years revenue at Rambus Inc grew +23.5 % a year. The price currently implies +15.7 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Rambus Inc (RMBS) growing?
The median revenue growth in the sector is +11.3 % a year. That is the yardstick for the growth priced into Rambus Inc (+15.7 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Rambus Inc (RMBS)?
The free-cash-flow yield on the price is 4.35 %: that much free cash flow Rambus Inc produces per unit of market value. When it exceeds the discount rate of our models (11.8 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Rambus Inc (RMBS)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Rambus Inc it is $92.41 per share (as of Nov 4, 2026), against a price of $69.68. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Rambus Inc stock overvalued or undervalued in 2026?
As of Nov 4, 2026, RMBS trades below its calculated fair value: price $69.68, fair value $92.41, a gap of about +33% (undervalued). 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 RMBS?
No. The price is what the market pays today ($69.68); the fair value is what the company's own numbers justify ($92.41). For Rambus Inc the two are $22.73 per share apart. That gap is exactly why we show both numbers side by side.
How much is Rambus Inc worth?
The market values Rambus Inc at about $7.4B (market capitalisation, as of Nov 4, 2026). Per share that is $69.68; our models calculate a fair value of $92.41 per share.
What do the bullish and bearish scenarios say about RMBS?
Our models span a range for Rambus Inc: cautious scenario $58.70, base $92.41, optimistic $121.97 per share (as of Nov 4, 2026, price $69.68). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of RMBS?
Rambus Inc trades at a price-to-earnings ratio of 28.8 (as of Nov 4, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $92.41 is built from several models across several years. Excluding one-off items of fiscal year 2025 it is 15.2 (reported for FY2025: 33.2). Median P/E at fiscal year-end, 5 fiscal years (2016 to 2025), reported earnings, FY2016, FY2023 ex one-offs: 43.8. Other multiples: PEG 3.8, P/B 5.4, P/S 9.7, EV/EBITDA 23.2.
What is the PEG ratio of RMBS?
The PEG ratio of Rambus Inc is 3.80 (P/E divided by earnings growth, as of Nov 4, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Rambus Inc (RMBS)?
Balance-sheet figures for Rambus Inc (as of Nov 4, 2026): return on equity 17.8%, debt of 0.11 per unit of equity. They feed the Quality Score of 78/100, which measures business quality independently of the share price.
How far is RMBS from its 52-week high?
Rambus Inc trades at $69.68, about 59% below its 52-week high of $170.66 and at the low of $69.68 (as of Nov 5, 2026). Distance from the high says nothing about value: that is what the fair value of $92.41 is for.
Which stocks are comparable to Rambus Inc?
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 Rambus Inc stock attractive at the current price?
The data as of Nov 4, 2026: price $69.68, calculated fair value $92.41 (+33%), Quality Score 78/100, from 24 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 RMBS calculated?
We run Rambus Inc through 24 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $92.41, 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 15.5% above its aggregate fair value. Rambus Inc currently trades 25% below its own fair value, and the market average says nothing about that. 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 Rambus Inc (RMBS)?
The closing price on Nov 5, 2026 was $69.68. Our model-based fair value is $92.41, about +33% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Rambus Inc right now?
The rarer combination: high quality (78/100) AND below fair value. That earns a closer look rather than a quick verdict. A fairly wide model range ($58.70 to $121.97) leaves room in how you read the outcome.
Key figures of Rambus Inc
How large is the market capitalisation of Rambus Inc (RMBS)?
The market capitalisation of Rambus Inc is $7.4B. 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 Rambus Inc (RMBS)?
The price-to-sales ratio of Rambus Inc is 9.73 (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 Rambus Inc (RMBS)?
Earnings per share at Rambus Inc are $2.42 (price ÷ EPS = P/E 28.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Rambus Inc (RMBS)?
The net margin of Rambus Inc is 31.7% (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 Rambus Inc (RMBS)?
The return on equity (ROE) of Rambus Inc is 17.8% (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 Rambus Inc (RMBS)?
On an EBIT basis the return on assets of Rambus Inc is 9.6% (avg 5y). 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 Rambus Inc (RMBS)?
The operating margin of Rambus Inc is 36.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Rambus Inc (RMBS)?
Revenue at Rambus Inc is growing +20.4% versus a year earlier (3y avg +15.9%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Rambus Inc (RMBS)?
Earnings per share at Rambus Inc are growing +15.1% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Rambus Inc (RMBS) hold?
Rambus Inc holds more cash than debt, $139M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Some data
Nov 4, 2026