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Rivian Automotive
(NASDAQ:RIVN)
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Rating:52Neutral
Price Target:
$17.00
▲(7.32% Upside)
Action:Reiterated
Date:07/31/26
The score is held down primarily by weak financial performance—large ongoing losses and substantial negative free cash flow—despite strong revenue scaling and improving gross profit trajectory. The latest earnings call adds support via raised delivery guidance, lowered CapEx, and strengthened liquidity, but continued large EBITDA losses and ramp-related cost pressure temper that upside. Technically, the stock shows modestly constructive longer-term positioning versus key moving averages, while valuation remains challenged due to negative earnings and no indicated dividend support.
Positive Factors
Revenue scale & improving gross profit
Rivian's revenue growth to ~$5.9B TTM and a sustained positive gross profit since 2025 indicate durable top-line scale and improving unit economics. This trajectory supports long-term margin improvement as fixed costs are absorbed and production efficiencies accrue, reducing break-even risk over months.
Negative Factors
Large ongoing losses & cash burn
Sustained multi-billion dollar net losses and negative operating and free cash flow indicate material ongoing cash consumption. Over months this forces continued reliance on external capital, risks balance-sheet dilution, and constrains optionality for capex or margin-improvement initiatives if profitability lags.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue scale & improving gross profit
Rivian's revenue growth to ~$5.9B TTM and a sustained positive gross profit since 2025 indicate durable top-line scale and improving unit economics. This trajectory supports long-term margin improvement as fixed costs are absorbed and production efficiencies accrue, reducing break-even risk over months.
Read all positive factors
Rivian Automotive Key Performance Indicators (KPIs)
Any
Vehicles Produced
Tracks the number of vehicles manufactured, indicating Rivian's production capacity and efficiency, as well as its ability to meet consumer demand.
Tracks the number of vehicles manufactured, indicating Rivian's production capacity and efficiency, as well as its ability to meet consumer demand.
Data provided by:
The Fly
The FlyRivian Automotive (RIVN) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$22.04B
Dividend YieldN/A
Average Volume (3M)36.85M
Price to Earnings (P/E)―
Beta (1Y)1.00
Revenue Growth14.21%
EPS Growth20.20%
CountryUS
Employees15,232
SectorConsumer Cyclical
Sector Strength84
IndustryAuto - Manufacturers
Share Statistics
EPS (TTM)-2.58
Shares Outstanding1,443,948,100
10 Day Avg. Volume27,466,426
30 Day Avg. Volume36,851,729
Financial Highlights & Ratios
PEG Ratio0.19
Price to Book (P/B)5.12
Price to Sales (P/S)4.34
P/FCF Ratio-9.39
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price Target
$16.88Price Target Upside6.53% Upside
Rating ConsensusHold
Number of Analyst Covering16
EPS Forecast (FY)-2.26
Revenue Forecast (FY)$7.45B
Rivian Automotive Business Overview & Revenue Model
Company Description
Rivian Automotive, Inc. (RIVN) is an electric vehicle manufacturer focused on designing, developing, and selling battery-electric vehicles and related software and services. The company’s core products include consumer electric pickup trucks and S...
How the Company Makes Money
Rivian makes money primarily by selling battery-electric vehicles and associated services. Its key revenue streams include: (1) Automotive sales: Revenue from delivering vehicles to customers (consumer vehicles such as the R1T and R1S, and commerc...
Rivian Automotive Earnings Call Summary
Earnings Call Date:Jul 30, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 10, 2026
Earnings Call Sentiment Positive
The call presents a predominantly constructive operational and commercial picture: R2 has launched with strong early demand indicators (high demo drives, stronger-than-expected reservation conversion), revenues grew 27% YoY, software/services drove high-margin growth, automotive gross loss narrowed materially YoY, and liquidity was strengthened via a $1.3B equity raise and other targeted funding. However, near-term profitability remains challenged by ramp-related costs (~$100M), input cost inflation (raw materials, memory, logistics), dependency on regulatory credits and tariff refunds that benefitted H1, and significant adjusted EBITDA losses guided for full-year 2026. Management expects Q3 gross profit pressure from the R2 ramp with benefits emerging in Q4. On balance, the operational momentum, product reception, margin improvement in software and services, and strengthened liquidity outweigh the short-term cost and ramp issues.Positive Updates
R2 Launch and Positive Early Demand
Began external customer deliveries of R2 in June; strong early reviews and customer feedback; reservation-to-order conversion for Launch Edition meaningfully higher than expected; hosted a Rivian record of over 57,000 demo drives in Q2.
Negative Updates
Ongoing Adjusted EBITDA Losses
Adjusted EBITDA loss was $379 million in Q2; full-year 2026 adjusted EBITDA loss guidance of $2.0B-$1.8B (midpoint improved ~ $50M) indicates continued significant operating losses as Rivian scales and invests in autonomy.
Read all updates
Q2-2026 Updates
Positive
Negative
R2 Launch and Positive Early Demand
Began external customer deliveries of R2 in June; strong early reviews and customer feedback; reservation-to-order conversion for Launch Edition meaningfully higher than expected; hosted a Rivian record of over 57,000 demo drives in Q2.
Read all positive updates
Company Guidance
Rivian guided 2026 vehicle deliveries of 65,000–70,000 (up 3,000 from prior guidance), implying ~42,400–47,400 H2 deliveries weighted to Q4 as R2 ramps from a single shift toward two shifts by end‑Q3, and said it expects a positive automotive gross profit at its 2026 exit rate despite Q3 ramp pressure (Q2 included ~ $100M incremental ramp-related cost); full‑year adjusted EBITDA loss is expected to be $2.0B–$1.8B (midpoint $50M improvement), CapEx was lowered by $250M at the midpoint to $1.7B–$1.8B, liquidity/capital plans include ~$5.3B cash & short‑term investments at quarter‑end plus a ~$1.3B July equity raise, an expected $1.0B non‑recourse VW loan and $250M Uber equity (subject to conditions) and a $4.5B DOE loan target (total available/targeted capital > $14B), and tech milestones include point‑to‑point autonomy late 2026, hands‑off/eyes‑off in 2027 and Gen‑3 autonomy hardware (RAP1 + lidar) targeted by year‑end.Rivian Automotive Financial Statement Overview
Summary
Income Statement
24
Negative
Balance Sheet
46
Neutral
Cash Flow
22
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 5.88B | 5.39B | 4.97B | 4.43B | 1.66B | 55.00M |
| Gross Profit | 442.00M | 144.00M | -1.20B | -2.03B | -3.12B | -465.00M |
| EBITDA | -2.14B | -2.56B | -3.39B | -4.27B | -5.99B | -4.46B |
| Net Income | -3.23B | -3.65B | -4.75B | -5.43B | -6.75B | -4.69B |
Balance Sheet | ||||||
| Total Assets | 15.14B | 14.86B | 15.41B | 16.78B | 17.88B | 22.29B |
| Cash, Cash Equivalents and Short-Term Investments | 5.31B | 6.08B | 7.70B | 9.37B | 11.57B | 18.13B |
| Total Debt | 5.35B | 6.65B | 5.74B | 5.12B | 1.81B | 1.61B |
| Total Liabilities | 10.01B | 10.27B | 8.85B | 7.64B | 4.08B | 2.78B |
| Stockholders Equity | 5.13B | 4.57B | 6.56B | 9.14B | 13.80B | 19.51B |
Cash Flow | ||||||
| Free Cash Flow | -3.49B | -2.49B | -2.86B | -5.89B | -6.42B | -4.42B |
| Operating Cash Flow | -1.84B | -779.00M | -1.72B | -4.87B | -5.05B | -2.62B |
| Investing Cash Flow | -839.00M | -1.83B | -1.98B | -2.51B | -1.37B | -1.79B |
| Financing Cash Flow | 1.47B | 886.00M | 1.14B | 3.13B | 99.00M | 19.83B |
Rivian Automotive Technical Analysis
Negative
15.84
Price Trends
16.55
Negative
15.92
Negative
16.12
Negative
Market Momentum
-0.32
Positive
43.19
Neutral
22.44
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For RIVN, the sentiment is Negative. The current price of 15.84 is below the 20-day moving average (MA) of 16.64, below the 50-day MA of 16.55, and below the 200-day MA of 16.12, indicating a bearish trend. The MACD of -0.32 indicates Positive momentum. The RSI at 43.19 is Neutral, neither overbought nor oversold. The STOCH value of 22.44 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for RIVN.
Rivian Automotive Risk Analysis
Rivian Automotive disclosed 78 risk factors in its most recent earnings report. Rivian Automotive reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Rivian Automotive Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
58 Neutral | $1.23T | 263.74 | 4.58% | ― | 11.75% | -37.64% | |
52 Neutral | $22.04B | -5.90 | -67.49% | ― | 14.21% | 20.20% | |
49 Neutral | $12.34B | -37.19 | -7.56% | ― | 49.73% | 54.60% | |
49 Neutral | $2.88B | -0.58 | -440.92% | ― | 61.03% | -5.36% | |
47 Neutral | $12.25B | -8.29 | -328.93% | ― | 51.42% | 66.12% | |
46 Neutral | $13.97B | -51.77 | -2.49% | ― | -23.38% | -123.25% |
* Consumer Cyclical Sector Average
RIVN
Rivian Automotive
15.38
3.31
27.42%
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Rivian Automotive Corporate Events
Business Operations and StrategyPrivate Placements and Financing
Rivian Raises $1.3 Billion Through Stock Offering
Positive
Jul 9, 2026
On July 7, 2026, Rivian Automotive entered into an underwriting agreement with Goldman Sachs and other underwriters to issue and sell 75 million shares of its Class A common stock at $15.50 per share. On July 8, 2026, the underwriters fully exerci...
Business Operations and StrategyFinancial Disclosures
Rivian Raises 2026 Delivery Guidance After Strong Quarter
Positive
Jul 2, 2026
On July 2, 2026, Rivian reported second-quarter 2026 production of 12,613 vehicles and deliveries of 12,194 vehicles from its Normal, Illinois plant, exceeding its prior outlook of 9,000 to 11,000 deliveries. The outperformance was driven by stron...
Executive/Board ChangesShareholder Meetings
Rivian Stockholders Back Board, Auditor at Annual Meeting
Positive
Jun 26, 2026
On June 22, 2026, Rivian Automotive held its Annual Meeting of Stockholders, with holders of Class A and higher-vote Class B shares participating as a single class and representing about 78% of combined voting power as of the April 23 record date....
Private Placements and Financing
Rivian Raises $300 Million Through Private Share Placement
Positive
May 4, 2026
In April 2026, Rivian Automotive, Inc. achieved a defined milestone under a March 18, 2026 subscription agreement with SMB Holding Corporation and Uber Technologies, Inc., triggering a significant equity investment. On May 4, 2026, following recei...
Business Operations and StrategyFinancial DisclosuresPrivate Placements and Financing
Rivian Raises Capital via Volkswagen Equity Investment Deal
Positive
Apr 30, 2026
In the first quarter of 2026, Rivian reported consolidated revenue of $1.381 billion, up 11% year over year, driven by 10,365 vehicle deliveries and strong growth in software and services, though consolidated gross profit fell to $119 million as a...
Business Operations and StrategyPrivate Placements and Financing
Rivian Amends DOE Loan to Fund Georgia EV Plant
Positive
Apr 30, 2026
On April 30, 2026, Rivian New Horizon, LLC and Rivian Automotive, Inc. amended and restated their loan arrangement with the U.S. Department of Energy, preserving most structural terms while resizing the facility into two tranches totaling roughly ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.