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Rambus RMBS

Rambus scores excellent on business quality (8.5 of 10). Here is why, in plain words, and what our sealed record shows.

Last price$107.47Oct 10, 2026
Business qualityExcellent
Next earningsOct 26, 2026
Insiders, 90 daysQuiet

Why it matters

  1. What Rambus does

    Rambus designs high-performance memory interface chips and silicon IP, licensing these foundational technologies to semiconductor manufacturers and system vendors. The company makes money from royalty streams and product sales tied to data center and AI infrastructure buildouts. AI infrastructure demand is driving a push into advanced memory solutions designed to handle surging CPU data loads.

  2. What it does best

    Rambus leads in silicon IP and memory interface chips, posting a gross margin of 79.5% that beats peer FSLR at 44.0%. This pricing power stems from deeply embedded patented architectures that chip designers cannot easily route around without redesigning entire systems.

  3. The main risk

    Valuation leaves zero room for error with the stock trading at $111.97 against an intrinsic value of $45.12. Any cooling in AI infrastructure spending could trigger a severe multiple contraction for the hardware lines powering its volume growth.

Quality, check by check

Scored against its own industry, from company filings.

ProfitabilityStrong

Operating margin hits 36.1% alongside a 91st percentile FCF margin, expanding rapidly due to high-margin IP licensing that scales effortlessly as industry volume rises.

MoatFair

Patent-protected IP creates a high-barrier ecosystem lock-in for major chip makers, backed by an operating margin ranking in the top decile of its sector at the 89th percentile.

GrowthFast

Revenue is scaling rapidly at a 27.1% growth rate, accelerating past its historical multi-year expansion pace as AI hardware deployment pulls its memory interface products forward.

Financial healthStrong

Zero total debt and $762M in cash give it pristine balance-sheet reality, backed by $300M in free cash flow, ensuring debt costs are a non-factor and the business is getting fundamentally stronger.

Insiders

Executives and directors, from SEC Form 4 filings we read ourselves. Open market trades only; grants, option exercises and pre-planned sales left out.

No open market buys or unplanned sales by executives or directors.

Our sealed record on RMBS

Verdicts appear here 30 days after we publish them; members see today's. Each one is in the nightly ledger, fingerprinted the night it was made.

The first sealed verdicts appear here on Oct 11, 2026.

Questions

Is RMBS a good business?

Rambus scores excellent on the Cluenex quality check (8.5 of 10), measured against its own industry. Profitability is strong, moat fair, growth fast and financial health strong.

Are insiders buying RMBS?

In the last 90 days of SEC Form 4 filings: No open market buys or unplanned sales by executives or directors.

When does RMBS report earnings?

Oct 26, 2026.

For members

See RMBS today

  • Today's verdict on RMBS, and why
  • Fair value with cautious, base and optimistic cases
  • The exact price that would change the verdict
  • Which stocks each signal names, the night it fires
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Cite this page: Cluenex, “Rambus (RMBS)”, https://cluenex.com/stocks/rmbs/, data as of Oct 10, 2026.