RMBS financial statements

The full income statement, balance sheet, and cash-flow statement for Rambus Inc. (RMBS), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

Shares outstanding (point-in-time)

2024-03 107.8M2024-06 107.7M2024-09 106.6M2024-12 106.9M2025-03 107.4M2025-06 107.6M2025-09 107.7M2025-12 107.8M2026-03 108.1M+0.3% over 8 periods

SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.

PeriodRangeOrderChangeYoYQoQFiguresAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021
Income Statement	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Revenue	708M YoY+27.1%	557M YoY+20.7%	461M YoY+1.4%	455M YoY+38.5%	328M YoY+33.3%
	563M YoY+26.1%	447M YoY+24.8%	358M YoY+3.0%	347M YoY+34.6%	258M YoY+39.0%
Cost of revenue	144M YoY+31.2%	110M YoY+6.5%	103M YoY-3.9%	108M YoY+52.8%	70.4M YoY+15.9%
	303M YoY+15.0%	264M YoY+29.1%	204M YoY-24.5%	270M YoY+15.7%	234M YoY+1.7%
Research & development	188M YoY+15.2%	163M YoY+3.9%	157M YoY-1.2%	159M YoY+17.0%	136M YoY-3.0%
Selling, general & administrative	115M YoY+10.8%	104M YoY-3.7%	108M YoY+1.3%	107M YoY+17.2%	91.1M YoY+5.3%
Restructuring	0.00	0.00 YoY-100.0%	9.37M	0.00 YoY-100.0%	368K YoY-91.0%
Amortization of intangibles	6.88M YoY-41.3%	11.7M YoY-20.6%	14.7M YoY-5.6%	15.6M YoY-10.6%	17.5M YoY-5.1%
Operating income	260M YoY+42.2%	183M YoY+19.1%	154M YoY+99.7%	76.9M YoY+216.9%	24.3M YoY+155.1%
Interest expense	1.37M YoY-3.0%	1.42M YoY-5.0%	1.49M YoY-20.5%	1.87M YoY-82.5%	10.7M YoY+3.5%
Other non-operating income	21.7M YoY+27.6%	17.0M YoY-49.2%	33.5M YoY+139.5%	-84.8M YoY-8419.3%	-995K YoY-113.2%
Equity-method income	—	—	—	-1.28M YoY-19.1%	-1.07M YoY-43.4%
Gain (loss) on equity securities	732K YoY+206.3%	239K YoY-93.0%	3.41M YoY+233.6%	-2.55M YoY-154.0%	-1.00M YoY-7630.8%
Pre-tax income	282M YoY+40.9%	200M YoY+6.9%	187M YoY+2491.8%	-7.83M YoY-133.6%	23.3M YoY+163.7%
Income tax	51.5M YoY+154.7%	20.2M YoY+113.8%	-147M YoY-2362.8%	6.49M YoY+31.0%	4.95M YoY+25.9%
Net income	230M YoY+28.2%	180M YoY-46.1%	334M YoY+2433.4%	-14.3M YoY-178.1%	18.3M YoY+145.3%
	$2.11 YoY+27.9%	$1.65 YoY-45.2%	$3.01 YoY+2415.4%	-$0.13 YoY-181.3%	$0.16 YoY+144.4%
EPS (basic)	$2.14 YoY+28.1%	$1.67 YoY-46.0%	$3.09 YoY+2476.9%	-$0.13 YoY-176.5%	$0.17 YoY+147.2%
	108M YoY+0.1%	107M YoY-0.7%	108M YoY-1.2%	109M YoY-1.0%	111M YoY-2.4%
	109M YoY+0.2%	109M YoY-1.7%	111M YoY+1.3%	109M YoY-4.7%	115M YoY+1.4%
Balance Sheet	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	989M YoY+43.3%	690M YoY+9.5%	631M YoY+19.6%	527M YoY-23.0%	684M YoY-2.2%
Cash & equivalents	183M YoY+83.2%	99.8M YoY+5.3%	94.8M YoY-24.4%	125M YoY+16.2%	108M YoY-16.3%
Accounts receivable	137M YoY+11.9%	123M YoY+48.1%	82.9M YoY+49.8%	55.4M YoY+25.7%	44.1M YoY+57.9%
Inventory	44.1M YoY-1.2%	44.6M YoY+23.5%	36.2M YoY+73.0%	20.9M YoY+146.4%	8.48M YoY-41.4%
Prepaid expenses	20.2M YoY+26.7%	15.9M YoY-54.3%	34.9M YoY+189.9%	12.0M YoY+13.4%	10.6M YoY-33.3%
	1.53B YoY+13.9%	1.34B YoY+6.7%	1.26B YoY+24.3%	1.01B YoY-17.9%	1.23B YoY-1.5%
Property, plant & equipment	113M YoY+49.7%	75.5M YoY+11.4%	67.8M YoY-21.4%	86.3M YoY+53.9%	56.0M YoY-2.9%
Operating lease right-of-use	17.1M YoY-20.2%	21.5M YoY-0.2%	21.5M YoY-11.0%	24.1M YoY+1.8%	23.7M YoY-17.4%
Goodwill	287M YoY+0.0%	287M YoY+0.0%	287M YoY-1.8%	292M YoY+4.7%	279M YoY+52.2%
Intangible assets	10.2M YoY-40.4%	17.1M YoY-40.7%	28.8M YoY-43.5%	50.9M YoY-12.9%	58.4M YoY+60.1%
Deferred tax assets	106M YoY-22.7%	136M YoY+6.7%	128M YoY+4119.5%	3.03M YoY-25.1%	4.05M
Other non-current assets	8.04M YoY+42.8%	5.63M YoY-6.7%	6.04M YoY+119.9%	2.75M YoY-35.3%	4.24M YoY-6.5%
	121M YoY+47.4%	81.8M YoY-8.2%	89.1M YoY-29.7%	127M YoY-52.6%	267M YoY+211.3%
Accounts payable	35.9M YoY+93.9%	18.5M YoY+2.5%	18.1M YoY-27.2%	24.8M YoY+120.0%	11.3M YoY+25.4%
Deferred revenue	30.0M YoY+50.6%	19.9M YoY+14.4%	17.4M YoY-27.1%	23.9M YoY-3.6%	24.8M YoY+142.7%
Current lease liability	6.31M YoY+12.3%	5.62M YoY+26.1%	4.45M YoY-11.4%	5.02M YoY-16.2%	5.99M YoY+26.8%
	165M YoY-25.8%	222M YoY+1.1%	220M YoY-5.6%	233M YoY-37.0%	370M YoY+9.3%
Non-current lease liability	18.7M YoY-23.9%	24.5M YoY-6.6%	26.3M YoY-9.7%	29.1M YoY-0.1%	29.1M YoY-15.2%
Operating lease liability (total)	25.0M YoY-17.1%	30.2M YoY-1.8%	30.7M YoY-10.0%	34.1M YoY-2.8%	35.1M YoY-10.1%
Deferred tax liabilities	—	—	4.46M YoY-82.1%	25.0M YoY+4.1%	24.0M
Other non-current liabilities	4.97M YoY-3.1%	5.13M YoY-80.1%	25.8M YoY-44.7%	46.7M YoY+63.8%	28.5M YoY+313.0%
	1.36B YoY+21.7%	1.12B YoY+8.0%	1.04B YoY+33.2%	779M YoY-9.6%	862M YoY-5.5%
Preferred stock	0.00	0.00	0.00	0.00	0.00
Common stock	108K YoY+0.9%	107K YoY-0.9%	108K YoY+0.0%	108K YoY-0.9%	109K YoY-2.7%
Additional paid-in capital	1.29B YoY+1.0%	1.28B YoY-3.7%	1.32B YoY+2.1%	1.30B YoY-0.1%	1.30B YoY+2.2%
Retained earnings	76.8M YoY+150.0%	-154M YoY+46.2%	-286M YoY+44.4%	-513M YoY-17.9%	-435M YoY-21.7%
Accumulated other comprehensive income	-124K YoY+90.2%	-1.26M YoY+0.7%	-1.27M YoY+74.4%	-4.96M YoY-241.8%	-1.45M YoY-1692.6%
Total liabilities & equity	1.53B YoY+13.9%	1.34B YoY+6.7%	1.26B YoY+24.3%	1.01B YoY-17.9%	1.23B YoY-1.5%
	108M YoY+0.9%	107M YoY-0.9%	108M YoY+0.2%	108M YoY-1.5%	109M YoY-2.2%
	108M YoY+0.9%	107M YoY-0.9%	108M YoY+0.2%	108M YoY-1.5%	109M YoY-2.2%
	108M YoY+0.9%	107M YoY-1.0%	108M YoY+0.0%	108M YoY-1.3%	109M YoY-2.2%
Cash Flow	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	360M YoY+56.1%	231M YoY+17.8%	196M YoY-15.0%	230M YoY+10.1%	209M YoY+12.8%
Depreciation & amortization	11.9M YoY+18.3%	10.1M YoY-0.7%	10.1M YoY+9.5%	9.27M YoY-75.9%	38.5M YoY-5.1%
Intangible amortization	6.88M YoY-41.3%	11.7M YoY-20.6%	14.7M YoY-5.6%	15.6M YoY-10.6%	17.5M YoY-5.1%
Share-based compensation	54.3M YoY+20.9%	44.9M YoY-0.3%	45.0M YoY+26.6%	35.6M YoY+29.3%	27.5M YoY+6.6%
Deferred income taxes	29.6M YoY+399.6%	-9.88M YoY+93.2%	-145M YoY-21195.8%	689K YoY-54.7%	1.52M YoY+143.9%
Change in receivables	14.7M YoY-63.2%	39.8M YoY+37.7%	28.9M YoY+212.0%	9.27M YoY-31.4%	13.5M YoY+183.8%
Change in inventory	-536K YoY-106.3%	8.48M YoY-44.4%	15.3M YoY+20.1%	12.7M YoY+307.9%	-6.11M YoY-239.5%
Change in payables	11.4M YoY+1865.0%	580K YoY+110.1%	-5.77M YoY-148.2%	12.0M YoY+445.6%	2.19M YoY+200.9%
Other operating activities	73.0K YoY+386.7%	15.0K YoY-97.7%	648K YoY-73.1%	2.41M YoY+144.0%	989K
	-223M YoY-293.3%	-56.7M YoY+1.2%	-57.4M YoY-137.8%	152M YoY+231.4%	-116M YoY-18.5%
Capital expenditure	26.8M YoY-12.6%	30.7M YoY+32.1%	23.2M YoY+33.0%	17.5M YoY+26.7%	13.8M YoY-53.6%
Free cash flow	333M YoY+66.7%	200M YoY+15.9%	173M YoY-19.0%	213M YoY+8.9%	195M YoY+25.5%
Acquisitions	0.00	0.00	0.00 YoY-100.0%	15.9M YoY-83.6%	97.1M
Sales/maturities of investments	470M YoY+67.4%	281M YoY+59.7%	176M YoY+194.8%	59.6M YoY-82.3%	336M YoY-58.9%
	-54.4M YoY+67.6%	-168M YoY+1.0%	-170M YoY+53.3%	-363M YoY-217.8%	-114M YoY-86.7%
Long-term debt issued	0.00	0.00	0.00	0.00	0.00
Long-term debt repaid	0.00	0.00	0.00	0.00	0.00
Common stock issued	0.00	0.00	0.00	0.00	0.00
Common stock repurchased	7.11M YoY-93.7%	113M YoY+12.7%	101M YoY+0.1%	100M YoY+0.3%	100M YoY+99.9%
Dividends paid	0.00	0.00	0.00	0.00	0.00
FX effect on cash	556K YoY+163.2%	-880K YoY-387.6%	306K YoY+115.2%	-2.01M YoY-386.0%	-413K YoY-489.6%
Net change in cash	83.1M YoY+1558.4%	5.01M YoY+116.2%	-30.9M YoY-277.4%	17.4M YoY+182.8%	-21.1M YoY-178.6%
Interest paid	0.00	0.00 YoY-100.0%	73.0K YoY-95.2%	1.52M YoY-35.7%	2.37M YoY+0.0%
Income taxes paid	25.0M YoY-7.9%	27.1M YoY+4.6%	25.9M YoY+2.6%	25.3M YoY+10.7%	22.8M YoY+7.2%
Valuation Ratios	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Market cap	9.90B YoY+75.4%	5.65B YoY-23.0%	7.34B YoY+90.6%	3.85B YoY+19.8%	3.21B YoY+64.7%
P/E	43.0× YoY+36.8%	31.4× YoY+24.7%	25.2×	—	175.2×
P/S	14.0× YoY+37.9%	10.1× YoY-36.2%	15.9× YoY+75.3%	9.1× YoY-7.3%	9.8× YoY+23.6%
P/B	7.3× YoY+44.0%	5.0× YoY-34.4%	7.7× YoY+49.6%	5.1× YoY+37.8%	3.7× YoY+74.3%
P/FCF	29.7× YoY+5.2%	28.3× YoY-36.5%	44.5× YoY+168.5%	16.6× YoY+0.8%	16.4× YoY+31.2%
	2.3% YoY-26.9%	3.2% YoY-19.8%	4.0%	—	0.57%
	3.4% YoY-5.0%	3.5% YoY+57.4%	2.2% YoY-62.8%	6.0% YoY-0.8%	6.1% YoY-23.8%
Source filing	10-K	10-K	10-K	10-K	10-K

About this data

Source: RMBS's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all RMBS filings on SEC EDGAR → Not investment advice.