Rubrik, Inc. Class A (RBRK) AI Stock Analysis

• Market Cap: $10.78B
• Dividend Yield: N/A
• Average Volume (3M): 3.92M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.58
• Revenue Growth: 48.93%
• EPS Growth: 69.39%
• Country: US
• Employees: 3,200
• Sector: Technology
• Sector Strength: 88
• Industry: Software - Infrastructure
• EPS (TTM): 0.10
• Shares Outstanding: 151,894,450
• 10 Day Avg. Volume: 2,678,291
• 30 Day Avg. Volume: 3,917,579
• PEG Ratio: -0.04
• Price to Book (P/B): -20.42
• Price to Sales (P/S): 12.75
• P/FCF Ratio: 360.69
• Enterprise Value/Market Cap: 1.07
• Enterprise Value/Revenue: 9.68
• Enterprise Value/Gross Profit: 12.21
• Enterprise Value/Ebitda: -36.26
• 1Y Price Target: $101.67
• Price Target Upside: 95.66% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 19
• EPS Forecast (FY): 0.07
• Revenue Forecast (FY): $1.58B

• Rating: 51 Neutral
• Price Target: $54.00 ▲(3.93% Upside)
• Action: Reiterated Date: 02/05/26
• Date: Action: Reiterated 02/05/26

The score is held back primarily by weak financial stability (negative equity and ongoing losses) and a clearly bearish technical trend. Offsetting these risks are a strong earnings call with major ARR/subscription growth, margin improvement, and record free cash flow, while valuation remains hard to assess due to negative earnings and no dividend.

Positive Factors

Subscription ARR Momentum

Large, recurring subscription ARR growth indicates durable demand and predictable revenue streams. Sustained ARR expansion and record net new ARR improve customer lifetime value, enable better capacity planning, and support long-term sales efficiency and scaling of subscription economics.

High Gross Margin

A ~79% gross margin reflects a software-centric model with scalable unit economics. High gross margins provide room to invest in R&D and go-to-market while enabling operating leverage as revenue grows, supporting sustainable long-term profitability potential once fixed costs are absorbed.

Improving Free Cash Flow

Material improvement and record free cash flow signal stronger internal funding capacity and operational efficiency. Rising FCF reduces reliance on external financing, enhances financial flexibility for product investment or M&A, and helps bridge the path to sustained profitability.

Negative Factors

Weak Balance Sheet

Negative equity and an impaired capital structure raise solvency and refinancing risk, limiting strategic options. Over the medium term this can constrain hiring, R&D and M&A, force costly funding, and reduce resilience to macro shocks despite operational progress.

Persistent Losses

Ongoing negative operating and net margins mean the business still consumes capital despite revenue growth. Continued loss-making requires sustained cash infusions or marked margin improvement to achieve self-sustaining profitability, adding execution and financing risk.

Cloud Transition Headwinds & ARR Volatility

Structural shifts tied to cloud transition and reduced material-rights revenue can depress reported growth and create multi-quarter variability. Lumpy net new ARR complicates forecasting, increases go-to-market pressure, and can delay steady operating leverage despite long-term demand drivers.

Rubrik, Inc. Class A Business Overview & Revenue Model

Company Description

Rubrik, Inc. provides data security solutions to individuals and businesses worldwide. The company offers enterprise data protection, unstructured data protection, cloud data protection, and SaaS data protection solutions; data threat analytics; data security posture; and cyber recovery solutions. It serves financial, retail, trade, transportation, energy, industrial, healthcare and life science, education, technology, media, communications, and public sectors. Rubrik, Inc. was formerly known as Scaledata, Inc. and changed its name to Rubrik, Inc. in October 2014. The company was incorporated in 2013 and is based in Palo Alto, California.

How the Company Makes Money

Rubrik generates revenue primarily through the sale of its software licenses, subscription services, and professional services. The company offers its solutions through a subscription-based model, allowing customers to pay for services on a recurring basis, which provides a steady revenue stream. Key revenue streams include sales of cloud data management software, support and maintenance services, and consulting services. Additionally, Rubrik has established significant partnerships with major cloud service providers and technology firms, which enhance its market reach and contribute to its earnings by integrating its solutions with leading cloud platforms and enabling joint go-to-market strategies.

Rubrik, Inc. Class A Financial Statement Overview

Summary

Revenue growth and a healthy gross margin support the business, and free cash flow is improving. However, persistent losses (negative EBITDA/EBIT and net margins) and a weak balance sheet with negative equity materially increase financial risk.

Income Statement

Rubrik, Inc. shows a strong revenue growth rate of 10.53% in the TTM, indicating positive sales momentum. However, the company struggles with profitability, as evidenced by negative net profit and EBIT margins, suggesting operational inefficiencies or high costs. The gross profit margin is healthy at 79.05%, but the negative EBITDA margin highlights challenges in managing operational expenses.

Balance Sheet

The balance sheet reveals significant financial risk with a negative stockholders' equity, leading to a high and negative debt-to-equity ratio. This indicates potential solvency issues. The return on equity is positive due to negative equity, but this is not a sustainable position. The equity ratio is also negative, reflecting a weak financial structure.

Cash Flow

Rubrik, Inc. demonstrates improvement in cash flow with a 34.02% growth in free cash flow. The operating cash flow to net income ratio is positive, indicating some ability to convert income into cash. However, the free cash flow to net income ratio suggests that cash flow generation is still a challenge relative to net losses.

Breakdown	TTM	Jan 2025	Jan 2024	Jan 2023	Jan 2022	Jan 2021
Income Statement
Total Revenue	1.20B	886.54M	627.89M	599.82M	506.15M	387.75M
Gross Profit	948.37M	620.80M	389.69M	320.25M	269.87M	217.20M
EBITDA	-319.47M	-1.08B	-196.34M	-153.79M	-144.90M	-125.51M
Net Income	-376.75M	-1.15B	-354.16M	-277.75M	-254.40M	-213.09M
Balance Sheet
Total Assets	2.55B	1.42B	873.61M	769.18M	518.98M	509.92M
Cash, Cash Equivalents and Short-Term Investments	1.60B	705.14M	279.25M	295.91M	138.81M	217.31M
Total Debt	1.13B	350.81M	309.29M	216.04M	33.21M	5.97M
Total Liabilities	3.07B	1.98B	1.58B	1.14B	623.61M	430.04M
Stockholders Equity	-524.41M	-553.73M	-704.54M	-372.62M	-104.63M	79.87M
Cash Flow
Free Cash Flow	260.25M	31.34M	-16.85M	-15.01M	-103.23M	-74.62M
Operating Cash Flow	273.46M	48.23M	-4.52M	19.29M	-82.78M	-58.74M
Investing Cash Flow	-807.31M	-383.44M	-93.62M	-125.19M	8.42M	-1.60M
Financing Cash Flow	737.93M	398.02M	95.95M	171.82M	22.87M	137.51M

Rubrik, Inc. Class A Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 51.96
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For RBRK, the sentiment is Negative. The current price of 51.96 is below the 20-day moving average (MA) of 52.64, below the 50-day MA of 63.34, and below the 200-day MA of 78.54, indicating a neutral trend. The MACD of -2.71 indicates Negative momentum. The RSI at 45.66 is Neutral, neither overbought nor oversold. The STOCH value of 75.16 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for RBRK.

Rubrik, Inc. Class A Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CPAY	77 Outperform	$22.76B	22.21	30.54%	―	11.27%	4.47%
ACIW	71 Outperform	$4.21B	19.11	15.40%	―	7.01%	17.48%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
OKTA	60 Neutral	$12.85B	66.58	2.96%	―	12.12%	―
NTNX	58 Neutral	$10.79B	44.57	―	―	17.45%	―
VRNS	54 Neutral	$2.77B	-20.78	-24.53%	―	11.37%	-34.44%
RBRK	51 Neutral	$10.78B	-27.52	―	―	48.93%	69.39%

Rubrik, Inc. Class A Corporate Events

Rubrik Names New Chief Revenue Officer Amid Rapid Growth

On February 2, 2026, Rubrik announced that Brian McCarthy will resign as President of Global Sales and Field Operations effective February 6, 2026, with Jesse Green, formerly President of Rubrik Americas, promoted to Chief Revenue Officer to steer global revenue amid the company’s rapid scaling. Management framed the leadership change within a period of strong fourth-quarter performance, ongoing expansion of its cyber resilience and AI platforms, and ambitions to leverage Green’s track record to sustain growth and reinforce Rubrik’s standing following recent acquisitions and market recognition.

The most recent analyst rating on (RBRK) stock is a Hold with a $59.00 price target. To see the full list of analyst forecasts on Rubrik, Inc. Class A stock, see the RBRK Stock Forecast page.