Rivian Automotive, Inc. (RIVN) financials
NASDAQ · Consumer Cyclical · Auto - Manufacturers · 15,232 employees · CEO Robert Joseph Scaringe
- Price
- $12.16 +6.20%
- Market cap
- $17.6B
- Enterprise value
- $19.5B
- Last report
- Q3 '26 filed 2026-10-29
- Next report
- 2027-02-11 EPS est. -$0.54
Revenue (TTM)$6.48B+11.1% vs a year agoLast 4 quarters; bars = each quarter
Operating margin (TTM)-52.9%+5.5 pp vs a year agoOperating income -$3.43B
Net income (TTM)-$2.97B+16.9% vs a year agoAfter tax, incl. non-operating gains
Free cash flow (TTM)-$4.19B-757.3% vs a year agoCapex $1.56B
Diluted EPS (TTM)-$2.25+27.7% vs a year agoSum of the last 4 quarters
Net cash$71M-88.9% vs a year agoCash + short-term investments - debt
Valuation & key figures
- Market cap
- $17.6B EV $19.5B
- Revenue
- $6.48B Trailing 12 months
- Revenue growth
- +42% FY2026 consensus
- Profit margin
- -45.9% Net income / revenue, TTM
- P/E
- -5.4× Forward -5.7× (FY2026)
- P/S
- 2.7× Price / sales, TTM
- EV / EBITDA
- -10.8× TTM
- Free cash flow
- -$4.19B Trailing 12 months
- Net income
- -$2.97B Trailing 12 months
- Revenue estimate
- $7.66B FY2026 consensus
- Earnings
- 2027-02-11 Revenue est. $2.51B
- Dividend
- – No dividend
Key takeaways
Computed from the reported numbers - every statement carries the figure it rests on.
- Last report (2026-10-29): revenue beat by 7.7%, EPS beat by 25.4%Revenue $2.16B vs $2B expected (+7.7%); EPS -$0.48 vs -$0.64 (+25.4%).
- Revenue growth accelerating: 38.3% year on yearQ3 '26 revenue $2.16B, against an average of 22.8% over the four quarters before.
- Operating margin -52.9% (TTM), +5.5 pp on a year agoOperating income grew -0.5% while revenue grew 11.1%.
- Capex 24.1% of revenue (a year ago 27.0%)$1.56B invested in the last 4 quarters (-0.7% on a year earlier). Free cash flow -$4.19B.
- Diluted share count up 18.5% in a year1.45B diluted shares in Q3 '26, 1.22B a year earlier.
- Net cash $71MCash + short-term investments $5.5B, debt incl. leases $5.43B; a year ago net cash $638M.
Last quarter: Q3 '26
Quarter ended 2026-09-30. Compared with the same quarter a year earlier and with the analyst consensus before the report.
Quarter vs a year ago
| Q3 '26 | Year ago | Change | |
|---|---|---|---|
| Revenue | $2.16B | $1.56B | +38.3% |
| Gross margin | 8.2% | 1.5% | +6.6 pp |
| Operating income | -$881M | -$983M | +10.4% |
| Operating margin | -40.9% | -63.1% | +22.2 pp |
| Net income | -$913M | -$1.17B | +22.2% |
| Diluted EPS | -$0.63 | -$0.96 | +34.4% |
| Operating cash flow | -$758M | $26M | -3,015.4% |
| Capex | $366M | $447M | -18.1% |
| Free cash flow | -$1.12B | -$421M | -167.0% |
| R&D | $485M | $453M | +7.1% |
| Stock-based compensation | $201M | $174M | +15.5% |
Reported vs consensus
2026-10-29| Actual | Consensus | vs consensus | |
|---|---|---|---|
| Revenue | $2.16B | $2B | +7.7% |
| EPS (as estimated) | -$0.48 | -$0.64 | +25.4% |
From the report of 2026-10-29 for Q3 '26: revenue and the EPS analysts estimate (often adjusted), so it can differ from the EPS of the statements above.
EPS vs consensus
last 8 reportsRevenue
Where the money comes from - by business line and by region, quarter by quarter.
Revenue, operating income and growth
quarterlyRevenue by business line
stacked, quarterly| Segment | Q3 '26 | y/y | Share | TTM | TTM y/y | 12 quarters |
|---|---|---|---|---|---|---|
| Automotive | $1.55B | +35.7% | 71.9% | $4.44B | – | |
| Software And Services | $605M | +45.4% | 28.1% | $2.04B | – |
Margins & cost structure
How much of each unit of revenue is left at each level - and where the costs go.
Margins
quarterlyCosts as % of revenue
quarterlyCash flow & capital allocation
Cash generated, what it is spent on, and what reaches shareholders.
Operating cash flow, capex, free cash flow
quarterlyUses of cash vs operating cash flow
fiscal yearsLast 4 quarters
cash flow statement- Operating cash flow
- -$2.63B
- Capex
- -$1.56B
- Buybacks
- $0
- Dividends
- $0
- Acquisitions
- -$114M
- Net debt issued
- $0
- Stock-based compensation
- $824M
- Free cash flow
- -$4.19B
- Returned to shareholders / FCF
- 0.0%
Share count and EPS
quarterly, dilutedBalance sheet
Liquidity, investments and debt at each quarter end.
Cash, investments and debt
quarter endsValuation & returns
Today's multiples against the company's own last five fiscal years; analyst targets and ratings.
Multiples and returns
TTM vs 5 fiscal years| Now | 5y average | Where today sits in the 5-year range | |
|---|---|---|---|
| P/E (TTM) | -5.4× | – | – |
| EV / EBITDA | -10.8× | – | – |
| EV / Sales | 3.0× | 20.1× | 2.8× – 84.1× |
| Price / FCF | -4.2× | – | – |
| Price / Book | 3.1× | 2.4× | 1.1× – 5.1× |
| FCF yield | -23.9% | -23.5% | -38.2% – -10.6% |
| Return on invested capital | -28.3% | -32.8% | -43.6% – -20.0% |
| Return on equity | -60.1% | -56.9% | -79.9% – -24.0% |
Analysts
Consensus target $17.20 (+41.4%)
range $14.00 – $22.00 · rating Buy
Strong buy0
Buy15
Hold9
Sell5
Strong sell0
Outlook
Analyst consensus for the coming fiscal years and what it implies at today's price.
Consensus estimates
| Fiscal year | Revenue | Growth | EPS | Growth | P/E at today's price | Analysts (EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $7.66B | +42.3% | -$2.12 | +30.8% | -5.7× | 12 |
| FY2027 | $11.6B | +50.9% | -$1.86 | +12.2% | -6.5× | 12 |
| FY2028 | $15.3B | +32.4% | -$1.33 | +28.9% | -9.2× | 10 |
| FY2029 | $25B | +63.2% | -$0.26 | +80.7% | -47.6× | 4 |
| FY2030 | $31.1B | +24.4% | $0.63 | +344.7% | 19.5× | 4 |
Financial statements
Every line of the income statement, balance sheet and cash flow statement - 12 quarters and 10 fiscal years, as values, as % of revenue or as growth.
Every reported line
All 234 figures Rivian Automotive, Inc. tagged in its recent 10-Q / 10-K filings, with the official SEC label and definition - including the notes (leases, taxes, buybacks, employees, ...).
| Line (SEC label) | Latest quarter | Year ago | y/y | Latest FY | Prior FY | y/y |
|---|---|---|---|---|---|---|
| Accounts Payable, Current | $1.04B | $554M | +87.4% | $595M | $499M | +19.2% |
| Accounts Receivable, after Allowance for Credit Loss, Current | $596M | $203M | +193.6% | $555M | $443M | +25.3% |
| Accrued Liabilities, Current | $1.1B | $1.39B | -20.5% | $1.44B | $835M | +72.2% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$3M | $7M | -142.9% | $8M | -$4M | +300.0% |
| Additional Paid in Capital | $34.8B | $31.2B | +11.6% | $31.5B | $29.9B | +5.5% |
| Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 322M | 301M | +7.0% | 310M | 286M | +8.4% |
| APIC, Share-based Payment Arrangement, Increase for Cost Recognition | $187M | $171M | +9.4% | $726M | $888M | -18.2% |
| Assets | $15.7B | $15.2B | +3.4% | $14.9B | $15.4B | -3.5% |
| Assets, Current | $8.14B | $9.28B | -12.3% | $8.59B | $10.6B | -18.8% |
| Assets, Fair Value Disclosure | $5.5B | – | – | $6.08B | $7.7B | -21.0% |
| Capital Expenditures Incurred but Not yet Paid | -$106M | $47M | -325.5% | $493M | $423M | +16.5% |
| Cash and Cash Equivalents, at Carrying Value | $3.51B | $4.44B | -21.0% | $3.58B | $5.29B | -32.4% |
| Cash and Cash Equivalents, Fair Value Disclosure | $3.51B | – | – | $3.58B | $5.29B | -32.4% |
| Cash Divested from Deconsolidation | $0 | $0 | – | – | – | – |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $3.51B | $4.44B | -21.0% | $3.58B | $5.29B | -32.4% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | -$83M | -$371M | +77.6% | -$1.72B | -$2.56B | +33.1% |
| Common Stock, Par or Stated Value Per Share | $0.00 | $0.00 | 0.0% | $0.00 | $0.00 | 0.0% |
| Common Stock, Shares Authorized | 5.26B | 5.26B | 0.0% | 5.26B | 3.51B | +49.9% |
| Common Stock, Shares, Issued | 1.46B | 1.23B | +19.1% | 1.24B | 1.13B | +9.6% |
| Common Stock, Shares, Outstanding | 1.46B | 1.23B | +19.1% | 1.24B | 1.13B | +9.6% |
| Common Stock, Value, Issued | $1M | $1M | 0.0% | $1M | $1M | 0.0% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest | $6M | $7M | -14.3% | $22M | $1M | +2,100.0% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | -$916M | -$1.17B | +21.8% | -$3.63B | -$4.75B | +23.6% |
| Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | -$910M | -$1.17B | +21.9% | -$3.61B | -$4.75B | +24.0% |
| Contract with Customer, Liability | $1.71B | $2.34B | -26.9% | $2.34B | $1.84B | +27.3% |
| Contract with Customer, Liability, Current | $1.19B | $1.05B | +13.4% | $1.28B | $552M | +131.3% |
| Contract with Customer, Liability, Noncurrent | $515M | $1.28B | -59.9% | $1.07B | $1.29B | -17.2% |
| Contract with Customer, Liability, Revenue Recognized | $429M | $115M | +273.0% | $551M | $85M | +548.2% |
| Cost of Goods and Services Sold | $1.98B | $1.53B | +29.0% | $5.24B | $6.17B | -15.0% |
| Debt Conversion, Converted Instrument, Amount | – | – | – | $0 | $1.13B | -100.0% |
| Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net | $29M | $37M | -21.6% | $35M | $34M | +2.9% |
| Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, after Year One Through Five | $261M | $178M | +46.6% | $257M | $289M | -11.1% |
| Deconsolidation, Gain (Loss), Amount | $0 | – | – | – | – | – |
| Deferred Compensation Share-based Arrangements, Liability, Current | $119M2025-12-31 | $49M | +142.9% | $119M | $49M | +142.9% |
| Deferred Tax Assets, Deferred Income | $430M2025-12-31 | $442M | -2.7% | $430M | $442M | -2.7% |
| Deferred Tax Assets, Gross | $7.52B2025-12-31 | $6.49B | +15.9% | $7.52B | $6.49B | +15.9% |
| Deferred Tax Assets, Inventory | $133M2025-12-31 | $110M | +20.9% | $133M | $110M | +20.9% |
| Deferred Tax Assets, Net | $1M2025-12-31 | $0 | – | $1M | $0 | – |
| Deferred Tax Assets, Net of Valuation Allowance | $382M2025-12-31 | $258M | +48.1% | $382M | $258M | +48.1% |
| Deferred Tax Assets, Operating Loss Carryforwards | $5.78B2025-12-31 | $4.62B | +25.1% | $5.78B | $4.62B | +25.1% |
| Deferred Tax Assets, Other | $130M2025-12-31 | $77M | +68.8% | $130M | $77M | +68.8% |
| Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Share-based Compensation Cost | $44M2025-12-31 | $49M | -10.2% | $44M | $49M | -10.2% |
| Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Accrued Liabilities | $152M2025-12-31 | $142M | +7.0% | $152M | $142M | +7.0% |
| Deferred Tax Assets, Valuation Allowance | $7.13B2025-12-31 | $6.23B | +14.5% | $7.13B | $6.23B | +14.5% |
| Deferred Tax Liabilities, Deferred Expense | $52M2025-12-31 | $51M | +2.0% | $52M | $51M | +2.0% |
| Deferred Tax Liabilities, Gross | $381M2025-12-31 | $258M | +47.7% | $381M | $258M | +47.7% |
| Deferred Tax Liabilities, Leasing Arrangements | $146M2025-12-31 | $103M | +41.7% | $146M | $103M | +41.7% |
| Deferred Tax Liabilities, Other | $13M2025-12-31 | $29M | -55.2% | $13M | $29M | -55.2% |
| Deferred Tax Liabilities, Property, Plant and Equipment | $170M2025-12-31 | $75M | +126.7% | $170M | $75M | +126.7% |
| Depreciation | $240M | $175M | +37.1% | $740M | $1B | -26.0% |
| Depreciation, Depletion and Amortization | $251M | $187M | +34.2% | $784M | $1.03B | -24.0% |
| Earnings Per Share, Basic | -$0.63 | -$0.96 | +34.4% | -$3.07 | -$4.69 | +34.5% |
| Earnings Per Share, Diluted | -$0.63 | -$0.96 | +34.4% | -$3.07 | -$4.69 | +34.5% |
| Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | -$2M | -$1M | -100.0% | $6M | -$3M | +300.0% |
| Effective Income Tax Rate Reconciliation at Federal Statutory Income Tax Rate, Amount | – | – | – | -$760M | -$996M | +23.7% |
| Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | – | – | – | 21.0% | 21.0% | 0.0% |
| Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount | – | – | – | $733M | $1.01B | -27.2% |
| Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Percent | – | – | – | -20.0% | -21.0% | +4.8% |
| Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Amount | – | – | – | $10M | $10M | 0.0% |
| Effective Income Tax Rate Reconciliation, Foreign Income Tax Rate Differential, Percent | – | – | – | 0.0% | 0.0% | – |
Source: SEC companyfacts (XBRL of every 10-Q / 10-K). Cash-flow quarters are derived from the year-to-date figures the 10-Q tags. Segment breakdowns are tagged with dimensions and are shown in the segment section instead.
Sources
Statements, segment revenue, metrics and estimates are standardised from the company's filings. Segment profits and every reported line: SEC EDGAR (XBRL). Filings read: 10-Q 2026-09-30, 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30
Data as of 2026-11-02