Rubrik, Inc.
RBRK Technology Software Infrastructure
Rubrik, Inc.’s revenue for fiscal 2026 (year ended January 2026) was $1.3 billion, up 48.5% from fiscal 2025. In the quarter to July 2026, revenue grew 37.9%, EPS grew 38.8%, free cash flow grew 14.1% and total debt was flat, each against the same quarter a year earlier. Insiders bought in the last twelve months.
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Rubrik, Inc. (RBRK) Beneish M-score
Rubrik, Inc.'s Beneish M-score for fiscal 2026 is −3.20; values above −1.78 are the model's flag for possible earnings manipulation — a statistical screen, not a finding.
Beneish M-score, annual
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Annual newest first
| Period | Beneish M-score | Change (points) |
|---|---|---|
| FY2026 | −3.20 | 3.05 |
| FY2025 | −6.24 | (1.84) |
| FY2024 | −4.40 | — |
How fiscal 2026’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 0.97 | — | 0.90 | |
| Gross margin index | 0.87 | — | 0.46 | |
| Asset quality index | 0.81 | — | 0.33 | |
| Sales growth index | 1.48 | — | 1.32 | |
| Depreciation index | 1.09 | — | 0.12 | |
| SG&A index | 0.56 | — | −0.10 | |
| Total accruals to total assets | (0.23) | — | −1.07 | |
| Leverage index | 0.99 | — | −0.32 | |
| Beneish M-score | Low — no pattern the model associates with manipulation | −3.20 | ||
How the Beneish M-score works
M = −4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI (Beneish, 1999): eight changes in the accounts from one fiscal year to the next, which the model weighs for the pattern seen in companies that later restated their earnings. Higher is worse.
| below −2.22 | Low — no pattern the model associates with manipulation |
|---|---|
| −2.22 to −1.78 | Elevated |
| above −1.78 | Flagged by the model |
−1.78 is the cut-off usually quoted from the paper, −2.22 a common conservative one. A statistical screen, not a finding of wrongdoing.
When asset quality, depreciation or SG&A cannot be worked out, that index is set to 1, as Beneish did, and the breakdown says so; with all three missing there is no score. Depreciation includes amortisation, and asset quality leaves out securities. Not worked out for banks, insurers and REITs.
Beneish M-score against peers
| Company | Beneish M-score |
|---|---|
| RBRK Rubrik, Inc. | −3.2× |
| TOST Toast, Inc. compare | −2.9× |
| MDB MongoDB, Inc. compare | −2.9× |
| FFIV F5, Inc. compare | −2.8× |
| GPN Global Payments Inc. compare | −2.7× |
| IOT Samsara Inc. compare | −2.6× |
| CPAY Corpay, Inc. compare | −2.4× |
| NTNX Nutanix compare | −1.4× |
| VRSN VeriSign, Inc. compare | — |
What Beneish M-score is
The Beneish M-Score combines eight year-on-year changes in the accounts into a statistical screen for patterns seen in companies that overstated earnings.
−4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI