Recent News
July 2, 2026: Rivian raised its 2026 vehicle delivery forecast, citing strong demand for delivery vans and the R2 model. July 30, 2026: the company sold 86.25 million Class A shares in a follow-on offering to raise roughly $1.3 billion for corporate purposes and Georgia plant funding. August 2026: regulators and media reported an expanded recall related to front turn-signal failures; separate mid-August reports flagged a small set of R2 fast-charging connector incidents prompting owner notifications and engineering investigations.
Technical Analysis
Directional indicators (ADX / DI+ / DI-): ADX at 10.69 indicates no established trend; DI+ at 26.13 with an increasing trend signals bullish directional pressure while DI- showed a peak-and-reversal, which also supports bullish directional momentum. Together, the readings imply constructive directional bias but limited trend strength—near-term upside depends on follow-through rather than trend dominance.
MACD: MACD stands at -0.04 and sits above the signal line at -0.15, and the MACD trend shows an increase; the cross above the signal line represents a bullish momentum signal and suggests the short-term oscillator momentum favors higher prices until momentum weakens.
MRO (Momentum/Regression Oscillator): MRO at 17.0 (positive) indicates price sits above the model target and therefore contains potential for a corrective pull; the MRO trend shows a peak-and-reversal, which signals a bearish pressure on gains and raises the odds of a near-term consolidation against the recent momentum.
RSI: RSI at 50.15 with an increasing trend reads as neutral-to-constructive momentum; the indicator supports the view of limited immediate overbought risk while allowing room for additional upside if buying interest accelerates.
Price vs Moving Averages & Ichimoku: Price closed at $16.33, above the 12-day EMA ($16.15, increasing) and the 20-day average ($15.99), yet sits just below the 50-day average ($16.44) and essentially in line with the 200-day average ($16.30). Ichimoku components place short-term support near $16.20 (Kijun-sen) with the cloud boundary above current price, implying resistance around the mid-$16 to $17 area; short-term thermal momentum shows improvement but the broader moving-average structure still caps runaway upside.
Volatility & Volume Context: 42-day beta of 2.56 and elevated short-term volatility indicate above-market sensitivity; traded volume recently undershot multi-period averages, which reduces conviction behind any single direction until participation increases.
Fundamental Analysis
Q2 results for period ending 2026-06-30 show revenue of $1,658,000,000 (YoY revenue growth of 294.77% and QoQ growth of 171.53%), gross profit of $179,000,000 and gross margin of 10.80% (gross margin YoY change -168.29% but QoQ improved 25.29%). Net income remained negative at $-833,000,000 and operating margin at -50.42%. EPS came in at $-0.63 versus an estimate of $-0.78, yielding an EPS surprise of 19.23%.
Liquidity & cash position: Cash totaled $3,592,000,000 with cash and short-term investments of $5,310,000,000; current ratio 2.10 and quick ratio 1.65. Free cash flow remained negative at $-849,000,000, producing a free cash flow yield of -3.80% and free cash growth YoY down -107.33% despite a QoQ improvement in free cash growth of +248.58%.
Leverage & coverage: Total debt sits at $5,353,000,000 with net debt near $852,000,000; debt-to-equity stands at 1.05. Interest expense totals $68,000,000 while interest income offsets $48,000,000, producing a negative interest coverage ratio consistent with reported operating losses.
- Profitability: Return on equity -16.31%; return on assets -5.67%; operating and return-on-sales both -50.42%.
- Valuation multiples: EVR 13.49, P/S 13.47, P/B 4.37, forward P/E negative; WMDST values the stock as over-valued.
- Working capital & efficiency: Cash conversion cycle ~76 days; asset turnover 0.1129 (below the industry peer mean of 0.19144), while receivables turnover improved QoQ.
Comparing margins to the industry peer mean and median: the EBIT margin of -46.44% trails the industry peer mean EBIT margin of 5.55% and median of 4.99%, indicating material gap versus typical peers. Revenue growth accelerated sharply YoY, but losses and negative free cash flow keep the near-term valuation narrative constrained despite operational scale gains.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2026-06-30 |
| REPORT DATE: | 2026-07-30 |
| NEXT REPORT DATE: | 2026-10-29 |
| CASH FLOW | Begin Period Cash Flow | $ 2.8 B |
| Operating Cash Flow | $ -487.00 M | |
| Capital Expenditures | $ -362.00 M | |
| Change In Working Capital | $ -82.00 M | |
| Dividends Paid | — | |
| Cash Flow Delta | $ 747.0 M | |
| End Period Cash Flow | $ 3.6 B | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 1.7 B | |
| Forward Revenue | $ 303.6 M | |
| COSTS | ||
| Cost Of Revenue | $ 1.5 B | |
| Depreciation | $ 237.0 M | |
| Depreciation and Amortization | $ 237.0 M | |
| Research and Development | $ 466.0 M | |
| Total Operating Expenses | $ 2.5 B | |
| PROFITABILITY | ||
| Gross Profit | $ 179.0 M | |
| EBITDA | $ -533.00 M | |
| EBIT | $ -770.00 M | |
| Operating Income | $ -836.00 M | |
| Interest Income | $ 48.0 M | |
| Interest Expense | $ 68.0 M | |
| Net Interest Income | $ -20.00 M | |
| Income Before Tax | $ -838.00 M | |
| Tax Provision | $ -1.00 M | |
| Tax Rate | 0.119 % | |
| Net Income | $ -833.00 M | |
| Net Income From Continuing Operations | $ -837.00 M | |
| EARNINGS | ||
| EPS Estimate | $ -0.78 | |
| EPS Actual | $ -0.63 | |
| EPS Difference | $ 0.15 | |
| EPS Surprise | 19.231 % | |
| Forward EPS | $ -0.45 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 15.1 B | |
| Intangible Assets | — | |
| Net Tangible Assets | $ 5.1 B | |
| Total Current Assets | $ 7.6 B | |
| Cash and Short-Term Investments | $ 5.3 B | |
| Cash | $ 3.6 B | |
| Net Receivables | $ 370.0 M | |
| Inventory | $ 1.7 B | |
| Long-Term Investments | $ 560.0 M | |
| LIABILITIES | ||
| Accounts Payable | $ 889.0 M | |
| Short-Term Debt | — | |
| Total Current Liabilities | $ 3.6 B | |
| Net Debt | $ 852.0 M | |
| Total Debt | $ 5.4 B | |
| Total Liabilities | $ 10.0 B | |
| EQUITY | ||
| Total Equity | $ 5.1 B | |
| Retained Earnings | $ -28.20 B | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 3.75 | |
| Shares Outstanding | 1.366 B | |
| Revenue Per-Share | $ 1.22 | |
| VALUATION | Market Capitalization | $ 22.3 B |
| Enterprise Value | $ 22.4 B | |
| Enterprise Multiple | -41.975 | |
| Enterprise Multiple QoQ | -69.624 % | |
| Enterprise Multiple YoY | 97.415 % | |
| Enterprise Multiple IPRWA | high: 86.113 median: 86.113 mean: 63.128 low: -20.91 RIVN: -41.975 |
|
| EV/R | 13.494 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 2.965 | |
| Asset To Liability | 1.512 | |
| Debt To Capital | 0.512 | |
| Debt To Assets | 0.354 | |
| Debt To Assets QoQ | -23.473 % | |
| Debt To Assets YoY | -12.95 % | |
| Debt To Assets IPRWA | high: 0.655 RIVN: 0.354 mean: 0.134 low: 0.108 median: 0.108 |
|
| Debt To Equity | 1.048 | |
| Debt To Equity QoQ | -29.806 % | |
| Debt To Equity YoY | 0.419 % | |
| Debt To Equity IPRWA | high: 6.485 RIVN: 1.048 mean: 0.357 median: 0.185 low: -3.456 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 4.373 | |
| Price To Book QoQ | -4.796 % | |
| Price To Book YoY | 67.487 % | |
| Price To Book IPRWA | high: 22.886 median: 18.194 mean: 16.29 RIVN: 4.373 low: -2.496 |
|
| Price To Earnings (P/E) | -26.025 | |
| Price To Earnings QoQ | -10.551 % | |
| Price To Earnings YoY | 88.173 % | |
| Price To Earnings IPRWA | high: 138.226 median: 138.226 mean: 86.005 low: -2.41 RIVN: -26.025 |
|
| PE/G Ratio | -0.286 | |
| Price To Sales (P/S) | 13.468 | |
| Price To Sales QoQ | -8.041 % | |
| Price To Sales YoY | 10.759 % | |
| Price To Sales IPRWA | high: 55.967 median: 55.967 mean: 49.287 RIVN: 13.468 low: 0.018 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | -34.94 | |
| Forward PE/G | -0.384 | |
| Forward P/S | 73.637 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 5.889 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.113 | |
| Asset Turnover Ratio QoQ | 18.932 % | |
| Asset Turnover Ratio YoY | 34.73 % | |
| Asset Turnover Ratio IPRWA | high: 0.354 median: 0.193 mean: 0.191 RIVN: 0.113 low: 0.053 |
|
| Receivables Turnover | 4.657 | |
| Receivables Turnover Ratio QoQ | 51.253 % | |
| Receivables Turnover Ratio YoY | 19.024 % | |
| Receivables Turnover Ratio IPRWA | high: 7.571 median: 7.019 mean: 6.385 RIVN: 4.657 low: 0.762 |
|
| Inventory Turnover | 0.923 | |
| Inventory Turnover Ratio QoQ | 14.744 % | |
| Inventory Turnover Ratio YoY | 43.531 % | |
| Inventory Turnover Ratio IPRWA | high: 2.686 mean: 1.674 median: 1.666 RIVN: 0.923 low: 0.584 |
|
| Days Sales Outstanding (DSO) | 19.593 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 76.028 | |
| Cash Conversion Cycle Days QoQ | -23.666 % | |
| Cash Conversion Cycle Days YoY | -57.123 % | |
| Cash Conversion Cycle Days IPRWA | high: 193.127 RIVN: 76.028 mean: 16.529 median: 8.265 low: -10.582 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 0.415 | |
| CapEx To Revenue | -0.218 | |
| CapEx To Depreciation | -1.527 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 9.6 B | |
| Net Invested Capital | $ 9.6 B | |
| Invested Capital | $ 9.6 B | |
| Net Tangible Assets | $ 5.1 B | |
| Net Working Capital | $ 4.0 B | |
| LIQUIDITY | ||
| Cash Ratio | 1.467 | |
| Current Ratio | 2.104 | |
| Current Ratio QoQ | 0.158 % | |
| Current Ratio YoY | -38.801 % | |
| Current Ratio IPRWA | high: 2.36 RIVN: 2.104 median: 1.941 mean: 1.858 low: 1.037 |
|
| Quick Ratio | 1.646 | |
| Quick Ratio QoQ | 0.284 % | |
| Quick Ratio YoY | -39.592 % | |
| Quick Ratio IPRWA | high: 1.695 RIVN: 1.646 median: 1.553 mean: 1.485 low: 0.467 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | -10.043 | |
| Cost Of Debt | 1.139 % | |
| Interest Coverage Ratio | -11.324 | |
| Interest Coverage Ratio QoQ | 108.507 % | |
| Interest Coverage Ratio YoY | -25.161 % | |
| Interest Coverage Ratio IPRWA | high: 79.247 mean: 19.502 median: 17.407 RIVN: -11.324 low: -20.62 |
|
| Operating Cash Flow Ratio | -0.168 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 59.399 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 6.373 % | |
| Revenue Growth | 20.058 % | |
| Revenue Growth QoQ | 171.531 % | |
| Revenue Growth YoY | 294.765 % | |
| Revenue Growth IPRWA | high: 78.201 % median: 26.127 % mean: 23.484 % RIVN: 20.058 % low: -21.094 % |
|
| Earnings Growth | 90.909 % | |
| Earnings Growth QoQ | -645.443 % | |
| Earnings Growth YoY | -10.946 % | |
| Earnings Growth IPRWA | RIVN: 90.909 % high: 12.446 % mean: -18.839 % median: -19.512 % low: -36.364 % |
|
| MARGINS | ||
| Gross Margin | 10.796 % | |
| Gross Margin QoQ | 25.287 % | |
| Gross Margin YoY | -168.286 % | |
| Gross Margin IPRWA | high: 52.593 % mean: 18.03 % median: 16.826 % RIVN: 10.796 % low: -5.839 % |
|
| EBIT Margin | -46.441 % | |
| EBIT Margin QoQ | 81.687 % | |
| EBIT Margin YoY | -42.038 % | |
| EBIT Margin IPRWA | high: 31.412 % mean: 5.552 % median: 4.994 % RIVN: -46.441 % low: -243.244 % |
|
| Return On Sales (ROS) | -50.422 % | |
| Return On Sales QoQ | -20.961 % | |
| Return On Sales YoY | -41.023 % | |
| Return On Sales IPRWA | high: 31.065 % mean: 2.487 % median: 1.41 % RIVN: -50.422 % low: -258.666 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ -849.00 M | |
| Free Cash Flow Yield | -3.802 % | |
| Free Cash Flow Yield QoQ | -28.467 % | |
| Free Cash Flow Yield YoY | -70.385 % | |
| Free Cash Flow Yield IPRWA | high: 45.536 % median: -0.07 % mean: -0.11 % RIVN: -3.802 % low: -55.896 % |
|
| Free Cash Growth | -21.023 % | |
| Free Cash Growth QoQ | 248.582 % | |
| Free Cash Growth YoY | -107.333 % | |
| Free Cash Growth IPRWA | high: 4.21 % RIVN: -21.023 % median: -176.108 % mean: -184.074 % low: -348.701 % |
|
| Free Cash To Net Income | 1.019 | |
| Cash Flow Margin | -36.61 % | |
| Cash Flow To Earnings | 0.729 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.04 | |
| Return On Assets (ROA) | -5.672 % | |
| Return On Assets QoQ | 98.391 % | |
| Return On Assets YoY | -21.036 % | |
| Return On Assets IPRWA | high: 4.52 % mean: 0.858 % median: 0.762 % RIVN: -5.672 % low: -14.833 % |
|
| Return On Capital Employed (ROCE) | -6.684 % | |
| Return On Equity (ROE) | -0.163 | |
| Return On Equity QoQ | 72.671 % | |
| Return On Equity YoY | -11.375 % | |
| Return On Equity IPRWA | high: 0.978 mean: 0.018 median: 0.013 RIVN: -0.163 low: -1.528 |
|
| DuPont ROE | -17.52 % | |
| Return On Invested Capital (ROIC) | -8.053 % | |
| Return On Invested Capital QoQ | 102.744 % | |
| Return On Invested Capital YoY | 2.56 % | |
| Return On Invested Capital IPRWA | high: 7.03 % mean: 1.504 % median: 1.249 % RIVN: -8.053 % low: -26.943 % |
|