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Ringcentral, Inc.

RNG Technology Software Application

Ringcentral, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $2.5 billion, up 4.78% from fiscal 2024.

Revenue
+5.85%
EPS
+3,442.1%
Free cash flow
+21.0%
Total debt
−19.6%

Quarter to September 2026, against a year earlier

74.44 3.52 −4.52%
Market cap
$6.3B
P/E
9.5×
Fwd P/E
10.0×
Dividend yield
0.54%
F-score
8/9
Altman Z
0.73
Beneish M
−4.36
Dividend safety
62/100
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Revenue by segment Fiscal 2025

  • Reportable Segment

Every year since 2022 →

Insider Decisions last twelve months

Sold, $m 20.70
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell 2 2 6 4 4 5 3 2 5 5 1 —
Insider Ownership 12.38%

Capital & Financial Ratios $m

Size
Market Cap 6,280.00
Revenue ttm 2,621.29
Net income ttm 662.40
Free cash flow ttm 603.73
Net debt Q 900.46
Valuation
P/E 9.51
Forward P/E 9.96
Price / sales 2.38
Forward P/S Powerpack
Price / FCF 10.38
Price / book 0.00
Financial health
Current ratio Q 1.06
Debt / equity Q (81.60) (negative: negative equity)
Interest coverage Q 3.15
Growth
Revenue growth Q +5.85% (above 0%: growing)
Operating income growth Q +74.92% (above 0%: growing)
EPS, this year +17.04% (at or above 15%: strong)
EPS, next year A +8.44%
Revenue, next year A +5.52%
EPS, past 5 yrs —
EPS, next 5 yrs A +11.87%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 2.7×, against a ten-year median of 4.5×; over the ten years it ranged from 1.4× in 2026 to 29.0× in 2020.
P/S against its own 10 years 37.33%
10-year low 10-year high
EV/Sales against its own 10 years 35.72%
10-year low 10-year high
EV/FCF against its own 10 years 25.59%
10-year low 10-year high

Dividends

Yield
0.54%
Annual rate
0.40
Payout ratio
5.29%
  1. 0.40 ’26
paid change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 222 243 133 110
Receivables 364 386 384 378
Inventory — — — —
Other — — — —
849 871 765 723
2023 2024 2025 Q'26
Payables 53 22 28 28
ST’ Debt 20 181 624 49
Other — — — —
633 749 1,219 679

Compound Annual Growth %

10y 5y 3y
Sales 23.85% 16.27% 8.15%
Cash Flow 61.59% 0.00% 47.78%
Earnings 0.00% 0.00% 0.00%
Book Value 0.00% 0.00% 0.00%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 1.27 Actual 1.33

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 1.14 1.18 Beat by 0.04
Q1 FY26 1.17 1.20 Beat by 0.03
Q2 FY26 1.17 1.22 Beat by 0.05
Q3 FY26 1.27 1.33 Beat by 0.06
Q4 FY26 1.35 — Reports 18 February 2027

EPS $

Mar Jun Sep Dec Year
’26 0.35 0.45 6.50 — —
’25 (0.11) 0.14 0.19 0.26 0.48
’24 (0.31) (0.16) (0.09) (0.08) (0.63)
’23 (0.57) (0.23) (0.45) (0.50) (1.74)
’22 (1.60) (1.68) (2.98) (2.97) (9.23)
’21 0.00 (1.22) (1.60) (1.27) (4.10)
’20 (0.70) 0.01 (0.24) (0.02) (0.94)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 644 657 676 — —
’25 612 620 639 644 2,515
’24 584 593 609 615 2,400
’23 534 539 558 571 2,202
’22 468 487 509 525 1,988
’21 352 379 415 448 1,595
’20 268 278 304 335 1,184
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 164 206 180 — —
’25 150 167 151 149 617
’24 96 127 127 133 483
’23 109 91 87 114 400
’22 59 51 42 39 191
’21 37 25 43 48 152
’20 13 27 (73) (2) (35)
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 141 180 157 — —
’25 130 144 130 126 530
’24 77 109 103 112 400
’23 87 73 70 94 324
’22 37 27 21 16 101
’21 10 8 23 (286) (245)
’20 (1) 9 (102) (48) (143)
Fiscal quarters ending in the months shown.

Valuation

The price implies free cash flow after share-based pay growing 6.0% a year for ten years.

Implied
6.0%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

2.4
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 380 504 674 903 1,184 1,595 1,988 2,202 2,400 2,515 2,621 +23.4% 2,654 2,782 2,909 +5.0%
Gross margin, % 75.76 75.92 76.67 74.41 72.66 71.88 67.73 69.84 70.61 71.24 72.17 (4.5) pt
EBT (16) (4) (26) (57) (82) (374) (874) (157) (47) 56 132 n/m
EBT margin, % (4.20) (0.78) (3.87) (6.31) (6.93) (23.43) (43.96) (7.12) (1.97) 2.24 5.05 +6.4 pt
Net income (16) (4) (26) (54) (83) (376) (879) (165) (58) 43 662 n/m
Per share, $
Per share, $ Revenue 5.21 6.60 8.47 10.86 13.35 17.38 20.88 23.21 26.06 28.11 31.26 +20.6%
Earnings (0.22) (0.06) (0.33) (0.64) (0.94) (4.10) (9.23) (1.74) (0.63) 0.48 7.83 n/m
Cash flow 0.41 0.54 0.91 0.78 (0.40) 1.66 2.01 4.21 5.25 6.90 8.34 +37.0%
Capex (0.22) (0.35) (0.72) (1.60) (1.21) (4.33) (0.95) (0.80) (0.90) (0.97) (1.14) +17.7%
Free cash flow 0.18 0.19 0.19 (0.82) (1.61) (2.67) 1.06 3.41 4.34 5.93 7.20 +47.2%
Book value 1.78 2.99 4.00 8.97 3.48 3.69 (5.07) (5.30) (5.98) (6.57) (0.15) n/m
Shares, m 73 76 80 83 89 92 95 95 92 89 86 +2.3%
Valuation, ×
Valuation, × P/E 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 57.76 9.51 5.8
P/S 4.10 7.24 9.73 15.53 28.39 10.78 1.66 1.40 1.34 1.03 2.38 8.1
P/B 11.98 15.97 20.64 18.80 108.96 50.70 0.00 0.00 0.00 0.00 0.00 22.7
EV/Sales 3.71 6.91 9.45 15.59 29.04 11.50 2.35 2.00 1.88 1.47 2.73 8.4
EV/FCF 106.15 244.24 421.32 (205.51) (148.21) (74.95) 46.39 13.80 11.27 7.02 11.88 42.2
Cash, $m
Cash, $m Operating cash flow 30 41 72 65 (35) 152 191 400 483 617 699 +40.1%
Capex (16) (27) (57) (133) (108) (397) (90) (76) (83) (87) (96) +20.4%
Free cash flow 13 14 15 (69) (143) (245) 101 324 400 530 604 +50.6%
Balance, $m
Balance, $m Working capital 90 140 508 255 488 124 143 216 122 (453) 44 n/m
Net debt (146) (181) (200) 57 767 1,150 1,386 1,323 1,286 1,121 900 n/m
Shareholders’ equity 130 228 318 746 308 339 (483) (503) (551) (588) (12) n/m
Returns, %
Returns, % ROA (6.94) (1.37) (4.18) (4.57) (4.57) (15.80) (37.79) (8.22) (3.13) 2.66 38.62 +9.6 pt
ROIC 0.00 (7.08) (8.72) (3.56) (6.58) (12.66) (44.92) (15.14) 0.23 14.13 13.84 +14.1 pt
ROE (13.51) (2.35) (9.60) (10.08) (15.75) (116.23) 1,222.59 33.54 11.07 (7.62) (240.74) +5.9 pt
People
People Employees 1,037 1,352 1,871 2,363 3,140 3,919 3,902 4,084 4,260 7,378 — +24.4%
Revenue/emp, $m 0.37 0.37 0.36 0.38 0.38 0.41 0.51 0.54 0.56 0.34 — (0.8%)
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 2 Nov 2026

Business profile

Updated

RingCentral sells cloud-based communications software to businesses, from small and medium-sized companies to enterprises. Its products help employees make and receive calls, exchange messages, hold video meetings and manage customer interactions. The company is headquartered in Belmont, California. Vladimir Shmunis is its founder, chairman and chief executive officer.

RingEX is its business communications platform, combining a cloud phone system with messaging, video, analytics and connections to other applications. RingCentral also sells contact center software, which businesses use to manage customer conversations across channels such as voice, chat and email. Its RingCentral Contact Center offering uses technology from NICE, while RingCX is RingCentral’s own contact center product.

Where the money comes from and where it goes Fiscal 2025

Fiscal 2025: revenue by segment, and margins
Reportable Segment 2,515 100.00%
Gross margin 71.24%
Operating margin 4.79%
Pre-tax margin 2.24%

Revenue by segment since 2022

Ringcentral, Inc. vs peers in Software Application (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
DUOL Duolingo, Inc. $7.4B 50.7× 48.1× +13.73% (above 0%: growing) −90.88% (below 0%: shrinking) +15.63% (above 0%: growing) 72.86% 7.83% Compare
LYFT Lyft, Inc. $6.8B 2.6× 29.7× +16.08% (above 0%: growing) n/m −1.89% (below 0%: shrinking) 49.75% 2.58% Compare
NAVN Navan, Inc. $6.6B — (loss-making) — (loss-making) +35.38% (above 0%: growing) n/m +618.65% (above 0%: growing) 74.09% (10.98%) Compare
CVLT CommVault Systems, Inc. $6.5B 81.0× 62.1× +13.11% (above 0%: growing) +113.79% (above 0%: growing) −3.69% (below 0%: shrinking) 81.15% 9.72% Compare
RNG Ringcentral, Inc. $6.3B 9.5× 10.0× +5.85% (above 0%: growing) +3,442.11% (above 0%: growing) +21.03% (above 0%: growing) 73.12% 7.97%
KVYO Klaviyo, Inc. $5.9B 1,120× — (loss-making) +24.55% (above 0%: growing) n/m −14.79% (below 0%: shrinking) 74.22% (1.16%) Compare
NIQ NIQ Global Intelligence plc $5.9B — (loss-making) — (loss-making) +8.01% (above 0%: growing) n/m +199.46% (above 0%: growing) 55.52% 5.81% Compare
OCTV Octave Intelligence plc $5.6B — — — — — — — Compare
NICE Nice $5.6B 13.8× 15.7× +7.65% (above 0%: growing) −53.16% (below 0%: shrinking) +141.20% (above 0%: growing) 64.04% 13.29% Compare
Median of peers $6.2B 50.7× 38.9× +13.73% −53.16% +15.63% 72.86% 5.81%

All 230 Software Application stocks →

From the latest earnings call

Updated

  • CEO Vladimir Shmunis said customers using at least one native paid AI product represented approximately 15% of annual recurring revenue, doubling year over year.
  • CFO Vaibhav Agarwal said gross debt had fallen below $1 billion by the call date and raised RingCentral’s full-year revenue and free cash flow outlooks.

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 103.44%
Held by the ten largest 63.04%
Holder Shares Stake Change
Capital Group 11.08m 13.27% +105.73k
BlackRock 10.80m 12.93% −396.82k
Vanguard 10.48m 12.55% −767.56k
Ameriprise (Columbia Threadneedle) 5.12m 6.13% −485.51k
LSV ASSET MANAGEMENT 3.98m 4.76% +724.60k
State Street 3.02m 3.61% +111.01k
First Trust 2.35m 2.81% +766.86k
Quantinno Capital Management LP 2.24m 2.68% +261.45k
Alyeska Investment Group, L.P. 2.05m 2.45% +590.25k
AQR Capital Management 1.53m 1.84% −494.58k
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

Pay and ownership Proxy statement filed 9 December 2025

Chief executive’s pay

Year Total pay Actually paid $100 invested
2024 15.49m 14.08m 21.00
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Read the proxy statement

Ringcentral, Inc. (RNG) Latest News

29 Oct

Impact 4 · · Insider Monkey
Impact 3 · · StockStory

28 Oct

Impact 4 · · Business Wire

25 Oct

Impact 4 · · Simply Wall St.
Impact 4 · · Simply Wall St.
Impact 3 · · Simply Wall St.

24 Oct

Impact 4 · · Simply Wall St.

23 Oct

Impact 4 · · The Motley Fool
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Impact 4 · · TIKR
Impact 4 · · Moby transcript
Impact 4 · · MT Newswires earnings
Impact 4 · · StockStory
Impact 4 · · TIKR
Impact 3 · · StockStory
Impact 3 · · MT Newswires

22 Oct

Impact 4 · · Simply Wall St.
Impact 4 · · The Motley Fool transcript
Impact 4 · · MarketBeat
Impact 4 · · Zacks
Impact 4 · · Associated Press
Impact 4 · · Business Wire
Impact 4 · · Business Wire earnings
Impact 3 · · Zacks
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21 Oct

Impact 3 · · Zacks
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20 Oct

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13 Oct

Impact 4 · · Business Wire
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RNG metrics, ten years each

stockrow.com/RNG · Data as of Nov 2, 2026 · For information only; not investment advice. · © 2026 stockrow.com