One-glance verdict
Not enough data
Fair value unavailable
Not enough cash-flow history to value this one with our method.
Fundamentals snapshot
Rivian Automotive, Inc.
RIVN · NMS · Consumer Cyclical · Auto Manufacturers
Current price
$14.30
52-week range
$12.39 - $22.69
Market cap
$20.70B
Balance sheet
Distressed
-13.08x Concerning
Net debt $43.00M. Interest coverage shows how many times profit covers the interest bill.
What stands out
1 Reward
1 Risk
1 rewards · 1 risks
- Reward Revenue grew 9.2% last year.
- Risk Return on equity was -57.5% last year — the company lost money on shareholders' equity.
What this company does
Rivian Automotive, Inc.
Rivian builds and sells high-end electric vehicles, including an adventure-focused pickup truck (R1T) and SUV (R1S), as well as a commercial delivery van for its major partner, Amazon. The company's money comes from selling these vehicles, but it is spending heavily to build more cars faster. For Rivian to become profitable, it needs to efficiently manage its supply chain (the network of companies that provide parts and materials) to lower the cost of making each vehicle.
How the company got here
Founded in 2009 by R.J. Scaringe, the company initially operated quietly, focusing on research and development. A key moment came in 2017 when it bought a former Mitsubishi manufacturing plant in Illinois, giving it a foundation for large-scale production. After unveiling its first vehicles in 2018, major investments from companies like Amazon and Ford boosted its credibility and financial resources. Rivian went public with a high-profile IPO (Initial Public Offering, the first time a company sells its shares to the public) in 2021 and began delivering its first trucks to customers that same year.
What it actually does
Rivian designs and builds high-end electric vehicles with a focus on adventure and utility. Its main products are the R1T, a five-passenger pickup truck, and the R1S, a seven-passenger SUV. Beyond consumer vehicles, the company also produces electric delivery vans, most notably for its partner and investor, Amazon. To support its vehicles, Rivian is also building its own network of fast chargers, similar to Tesla's Superchargers.
Automotive
This is Rivian's main business, where it makes money by selling its electric vehicles directly to consumers and businesses. The consumer side focuses on the premium R1T pickup and R1S SUV, which are marketed to people with an active, outdoor lifestyle. The commercial side produces electric delivery vans for fleet customers, with Amazon being its largest client. This segment accounts for the vast majority of the company's revenue (the total money it brings in from sales).
Software and Services
This smaller but growing part of the company generates revenue from sources other than the initial vehicle sale. This includes subscriptions for in-vehicle software features, connectivity, and fleet management services for commercial customers. It also covers vehicle maintenance and repair services, financing, and insurance. While currently a smaller slice of the business, this segment is becoming more important to the company's overall financial picture.
What management is betting on now
Rivian's main focus is on becoming profitable by reducing the cost to produce each vehicle and increasing manufacturing efficiency. A major part of this strategy is the launch of its next-generation, lower-priced R2 platform, which is designed to reach a much broader market. The company is also investing heavily in developing its own software and technology to create a better user experience and open up new revenue streams. By controlling both the hardware and software, Rivian aims to deliver continuous improvements to its vehicles through over-the-air updates.
Price history
How the share price has moved
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Loading price history…
Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2024 Q3
$-1.15B
FY2024 Q4
$856.00M
FY2025 Q1
$-526.00M
FY2025 Q2
$-398.00M
FY2025 Q3
$-421.00M
FY2025 Q4
$-1.14B
FY2026 Q1
$-1.07B
FY2026 Q2
$-849.00M
Revenue
$1.66B
Net income
$-833.00M
Diluted EPS
-0.63
Operating cash flow
$-487.00M
Free cash flow
$-849.00M
Fetching…
Sources
Revenue
$1.38B
Net income
$-416.00M
Diluted EPS
-0.33
Operating cash flow
$-703.00M
Free cash flow
$-1.07B
Fetching…
Sources
Revenue
$1.29B
Net income
$-811.00M
Diluted EPS
-0.66
Operating cash flow
$-681.00M
Free cash flow
$-1.14B
Fetching…
Sources
Revenue
$1.56B
Net income
$-1.17B
Diluted EPS
-0.96
Operating cash flow
$26.00M
Free cash flow
$-421.00M
Fetching…
Sources
Revenue
$1.30B
Net income
$-1.12B
Diluted EPS
-0.97
Operating cash flow
$64.00M
Free cash flow
$-398.00M
Fetching…
Sources
Revenue
$1.24B
Net income
$-545.00M
Diluted EPS
-0.48
Operating cash flow
$-188.00M
Free cash flow
$-526.00M
Fetching…
Sources
Revenue
$1.73B
Net income
$-744.00M
Diluted EPS
-0.67
Operating cash flow
$1.18B
Free cash flow
$856.00M
Fetching…
Sources
Revenue
$874.00M
Net income
$-1.10B
Diluted EPS
-1.08
Operating cash flow
$-876.00M
Free cash flow
$-1.15B
Fetching…
Sources
Is it cheap or expensive?
Fair value — vs current price $14.30
We couldn't calculate a fair value right now.
Is it drowning in debt?
Distressed
Net debt $43.0M. Interest coverage -13.1x.
Net debt
$43.00M
Interest coverage
-13.08x
Rivian Automotive, Inc.'s profit covers its interest bill about 0.0 times over. which is weaker than most peers shown here and 4 peers sit below 1x, which is the danger zone where profit does not fully cover the interest bill.
Distressed
Worse cushion
Baseline
Better cushion
RIVN
BASELINE
Rivian Automotive, Inc.
Total debt $5.35B Interest coverage -13.08x This is the baseline the peer rows are being compared against.
Total debt $16.08B Interest coverage 14.35x This peer still has a real interest-payment cushion, while RIVN does not.
Total debt $3.66B Interest coverage -36.82x Neither company has much profit cushion over interest right now.
Total debt $163.30B Interest coverage -6.88x Neither company has much profit cushion over interest right now.
Total debt $4.32B Interest coverage -15.86x Neither company has much profit cushion over interest right now.
Total debt $4.01B Interest coverage -6.99x Neither company has much profit cushion over interest right now.
What you should know
The case for and against RIVN
1 Reward
1 Risk
Rewards
-
Revenue grew 9.2% last year.
Risks
-
Return on equity was -57.5% last year — the company lost money on shareholders' equity.
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
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Forward P/E
-8.20x
P/B
3.81x
P/S
3.52x
EV/EBITDA
-7.65x
PEG ratio
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Profitability
How much profit each dollar creates
Gross margin
7.5%
Operating margin
-50.4%
Net margin
-55.0%
ROE
-57.5%
ROA
-14.4%
Health
Liquidity and balance-sheet strength
Debt / equity
1.04x
Current ratio
2.10x
Quick ratio
1.57x
Total debt
$5.35B
Total cash
$5.31B
Growth
How the business has been compounding
Revenue TTM
$5.88B
Revenue 5Y CAGR
214.6%
EPS TTM
-2.51
EPS 5Y CAGR
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Cash flow
How much cash the business throws off
Operating CF TTM
$-1.84B
Free CF TTM
$-2.49B
FCF margin
-42.3%
Dividend
Shareholder payout
Yield
—
Payout ratio
0.0%
Last ex-div date
—