Tearsheet

Rubrik (RBRK)

Market Price (12/21/2025): $78.33 | Market Cap: $15.5 Bil
Sector: Information Technology | Industry: Systems Software

Rubrik (RBRK)

Market Price (12/21/2025): $78.33
Market Cap: $15.5 Bil
Sector: Information Technology
Industry: Systems Software

Investment Highlights Why It Matters Which of these 2 stories sounds closer for this stock?

1. Generates cash flow

The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.

2. Riding a trend

Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow

0	Strong revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 49%	Not profitable at operating income level Op Inc LTMOperating Income, Last Twelve Months is -379 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -32%
1	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 23%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 20%	Expensive valuation multiples P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 57x
2	Megatrend and thematic drivers Megatrends include Cybersecurity, and Cloud Computing. Themes include Cloud Security, Software Security, Show more.	Significant share based compensation SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 28%
3		Yield minus risk free rate is negative ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -6.6%
4		Key risks RBRK key risks include [1] a consistent lack of profitability and negative shareholder equity and [2] a high valuation that demands near-perfect execution to avoid a significant stock sell-off.

0	Strong revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 49%
1	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 23%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 20%
2	Megatrend and thematic drivers Megatrends include Cybersecurity, and Cloud Computing. Themes include Cloud Security, Software Security, Show more.
3	Not profitable at operating income level Op Inc LTMOperating Income, Last Twelve Months is -379 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -32%
4	Expensive valuation multiples P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 57x
5	Significant share based compensation SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 28%
6	Yield minus risk free rate is negative ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -6.6%
7	Key risks RBRK key risks include [1] a consistent lack of profitability and negative shareholder equity and [2] a high valuation that demands near-perfect execution to avoid a significant stock sell-off.

Valuation, Metrics & Events

	12/21/25	2024	2023	2022
Share Price CYE	$78.33	$65.36
Market Cap CYE ($ Bil)	15.5	12.0	-	-
Total Debt ($ Bil)	1.1	0.3	0.3	0.2
Total Cash ($ Bil)	1.6	0.7	0.3	0.3
Enterprise Value ($ Bil)	15.1	12.3
Valuation Ratios
P/S TTM	13.0	11.4	-	-
P/EBIT TTM	-45.3	-9.1	-	-
P/E TTM	-41.2	-8.7	-	-
P/FCF TTM	64.0	466.3	-	-
Sector Ratios
P/S TTM (Sector)	3.2	3.2	2.9	2.6
P/EBIT TTM (Sector)	3.1	2.3	-0.2	-0.7
P/E TTM (Sector)	-0.2	-0.3	-0.5	-0.8
P/FCF TTM (Sector)	12.4	13.7	12.2	6.9

	12/21/25	2024	2023
Share Price CYE	$78.33	$65.36
Market Cap CYE ($ Bil)	15.5	12.0	-
Total Debt ($ Bil)	1.1	0.3	0.3
Total Cash ($ Bil)	1.6	0.7	0.3
Enterprise Value ($ Bil)	15.1	12.3
Valuation Ratios
P/S TTM	13.0	11.4	-
P/EBIT TTM	-45.3	-9.1	-
P/E TTM	-41.2	-8.7	-
P/FCF TTM	64.0	466.3	-
Sector Ratios
P/S TTM (Sector)	3.2	3.2	2.9
P/EBIT TTM (Sector)	3.1	2.3	-0.2
P/E TTM (Sector)	-0.2	-0.3	-0.5
P/FCF TTM (Sector)	12.4	13.7	12.2

	RBRK	S&P 500
REVENUE GROWTH	VERY GOOD
Rev LTM ($ Bil)	1.2
Rev Chg Q	48.3%	7.3%
Rev Chg LTM	48.9%	6.0%
Rev Chg 3Y Avg	48.9%	5.5%
PROFITABILITY	VERY POOR
Op Inc LTM ($ Bil)	-0.4
CFO LTM ($ Bil)	0.3
Net Inc LTM ($ Bil)	-0.4
Op Mgn LTM	-31.7%	18.8%
CFO/Rev LTM	22.9%	20.4%
Net Inc Mgn	-31.5%	13.1%
VALUATION	VERY HIGH
P/S	13.0	3.2
P/CFO	56.8	15.5
P/FCF	64.0	20.7
P/E	-41.2	23.5
STABILITY	VERY GOOD
Debt/Equity	0.07	0.21
Cash/Assets	0.63	0.07

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Metric	Value	Date	Source
Subscription Annual Recurring Revenue	$1.25 billion	7312025	Link
Cloud Annual Recurring Revenue	$1.1 billion	10172025	Link
Customers with over $100K in Subscription ARR	2505	7312025	Link
Average Subscription Dollar-Based Net Retention Rate	exceeding 120%	6062025	Link
Subscription ARR Contribution Margin	9.4%	9092025	Link
Net New Subscription ARR	$71 million	10172025	Link

Recent
12/04/2025	Earnings Release	Rev: $350 Mil (A) vs. $320 Mil (E) EPS: 0.10 (A) vs. $-0.17 (E)
Upcoming
3/12/2026	Earnings Release	Rev: - EPS: -

RBRK Stock

Return (1M):

Why The Stock Moved

Qualitative Assessment

AI Generated Analysis | Feedback

Here are key points explaining Rubrik's (RBRK) stock movement by approximately -12.6% in the period from August 31, 2025, to December 21, 2025:

1. Analyst Downgrades and Price Target Reductions: While several analysts reiterated "Buy" or "Outperform" ratings and even raised price targets following Rubrik's strong Q3 FY2026 earnings, dissenting views contributed to negative sentiment. Notably, Cantor Fitzgerald lowered its price target from $115.00 to $105.00 around December 3rd, and Wall Street Zen downgraded Rubrik from a "buy" to a "hold" rating on August 22nd.

2. Forward-Looking Guidance Indicating Continued Losses: Despite exceeding revenue and earnings estimates for both Q2 and Q3 fiscal year 2026, Rubrik's full-year 2026 guidance projected continued non-GAAP losses per share. For instance, the full-year 2025 outlook included non-GAAP EPS between $(1.86) and $(1.82), and a later report cited FY2026 guidance signaling planned losses (EPS of −0.200 to −0.160 for FY2026 and −0.120 to −0.100 for Q4 2026). This outlook for ongoing unprofitability might have dampened investor enthusiasm, despite strong growth metrics.

3. Significant Insider Selling: Insider transactions revealed substantial selling activity that exceeded the specified threshold. Insiders reportedly sold approximately $14.24 million worth of shares in the 90 days leading up to December 18, 2025. Such significant selling by company insiders can be perceived by the market as a lack of confidence, contributing to downward pressure on the stock.

4. Profit-Taking Following a Post-Earnings Surge: Rubrik's stock experienced an initial surge after its Q3 fiscal year 2026 financial results were reported on December 4, 2025, with the stock closing at $86.27 on December 5, 2025, up from $70.43 on December 4, 2025. The subsequent -12.6% movement could be attributed to investors engaging in profit-taking after these rapid gains, leading to a market correction.

5. General Market Volatility and Investor Sentiment: Rubrik's stock experienced notable volatility during this period, with a -10.25% price change in the seven days leading up to December 19, 2025. This inherent volatility, combined with broader investor sentiment towards growth companies, especially those not yet consistently profitable, could have exacerbated the downward movement despite some positive company-specific news.

Show less

Stock Movement Drivers

Fundamental Drivers

The -2.6% change in RBRK stock from 9/20/2025 to 12/20/2025 was primarily driven by a -10.3% change in the company's P/S Multiple.

	9202025	12202025	Change
Stock Price ($)	80.23	78.18	-2.56%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	1082.62	1196.61	10.53%
P/S Multiple	14.44	12.96	-10.26%
Shares Outstanding (Mil)	194.89	198.38	-1.79%
Cumulative Contribution			-2.59%

LTM = Last Twelve Months as of date shown

Market Drivers

9/20/2025 to 12/20/2025

	Return	Correlation
RBRK	-2.6%
Market (SPY)	2.5%	39.9%
Sector (XLK)	3.8%	49.5%

Fundamental Drivers

The -8.6% change in RBRK stock from 6/21/2025 to 12/20/2025 was primarily driven by a -22.7% change in the company's P/S Multiple.

	6212025	12202025	Change
Stock Price ($)	85.51	78.18	-8.57%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	977.71	1196.61	22.39%
P/S Multiple	16.76	12.96	-22.66%
Shares Outstanding (Mil)	191.62	198.38	-3.52%
Cumulative Contribution			-8.69%

LTM = Last Twelve Months as of date shown

Market Drivers

6/21/2025 to 12/20/2025

	Return	Correlation
RBRK	-8.6%
Market (SPY)	14.8%	33.6%
Sector (XLK)	20.6%	41.2%

Fundamental Drivers

The 18.2% change in RBRK stock from 12/20/2024 to 12/20/2025 was primarily driven by a 0.0% change in the company's Total Revenues ($ Mil).

	12202024	12202025	Change
Stock Price ($)	66.12	78.18	18.24%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	�	1196.61	�
P/S Multiple	�	12.96	�
Shares Outstanding (Mil)	175.93	198.38	-12.76%
Cumulative Contribution			�

LTM = Last Twelve Months as of date shown

Market Drivers

12/20/2024 to 12/20/2025

	Return	Correlation
RBRK	18.2%
Market (SPY)	16.1%	52.8%
Sector (XLK)	23.3%	57.5%

Fundamental Drivers

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Market Drivers

12/21/2023 to 12/20/2025

	Return	Correlation
RBRK
Market (SPY)	47.1%	48.4%
Sector (XLK)	52.5%	49.0%

Return vs. Risk

Price Returns Compared

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
RBRK Return	�	�	�	�	�	16%	�
Peers Return	22%	36%	-15%	46%	58%	8%	247%
S&P 500 Return	16%	27%	-19%	24%	23%	16%	112%
Monthly Win Rates [3]
RBRK Win Rate	�	�	�	�	62%	42%
Peers Win Rate	58%	68%	40%	55%	67%	55%
S&P 500 Win Rate	58%	75%	42%	67%	75%	73%
Max Drawdowns [4]
RBRK Max Drawdown	�	�	�	�	�	-21%
Peers Max Drawdown	-40%	-8%	-28%	-10%	-4%	-27%
S&P 500 Max Drawdown	-31%	-1%	-25%	-1%	-2%	-15%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: CVLT, DELL, NTAP, PSTG, IBM.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/19/2025 (YTD)

How Low Can It Go

RBRK has limited trading history. Below is the Information Technology sector ETF (XLK) in its place.

Unique Key	Event	XLK	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-34.0%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	51.6%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	278 days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-31.5%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	46.0%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	79 days	148 days
2018 Correction	2018 Correction
2018 Correction% Loss	% Loss	-24.1%	-19.8%
2018 Correction% Gain to Breakeven	% Gain to Breakeven	31.8%	24.7%
2018 CorrectionTime to Breakeven	Time to Breakeven	105 days	120 days
2008 Global Financial Crisis	2008 Global Financial Crisis
2008 Global Financial Crisis% Loss	% Loss	-53.6%	-56.8%
2008 Global Financial Crisis% Gain to Breakeven	% Gain to Breakeven	115.3%	131.3%
2008 Global Financial CrisisTime to Breakeven	Time to Breakeven	1,183 days	1,480 days

Compare to

In The Past

SPDR Select Sector Fund's stock fell -34.0% during the 2022 Inflation Shock from a high on 12/27/2021. A -34.0% loss requires a 51.6% gain to breakeven.

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About Rubrik (RBRK)

We are on a mission to secure the world’s data. Cyberattacks are inevitable. Realizing that cyberattacks ultimately target data, we created Zero Trust Data Security to deliver cyber resilience so that organizations can secure their data across the cloud and recover from cyberattacks. We believe that the future of cybersecurity is data security—if your data is secure, your business is resilient. We built Rubrik Security Cloud, or RSC, with Zero Trust design principles to secure data across enterprise, cloud, and software-as-a-service, or SaaS, applications. RSC delivers a cloud native SaaS platform that detects, analyzes, and remediates data security risks and unauthorized user activities. Our platform is architected to help organizations achieve cyber resilience, which encompasses cyber posture and cyber recovery. We enable organizations to confidently accelerate digital transformation and leverage the cloud to realize business agility. Traditional cybersecurity approaches have failed to not only prevent but also provide recovery from increasingly rampant and sophisticated cyberattacks. At the same time, legacy backup and recovery solutions have significant shortfalls in addressing cyber recovery and data security as they were primarily built for operational and natural disaster recoveries. They were not designed to enable reliable recovery from cyberattacks, nor were they designed to natively deliver cyber threat analytics and event response. Architecture matters when it comes to securing data. We built a unique SaaS architecture that combines data and metadata from business applications across enterprise, cloud, and SaaS applications to create self-describing data as a time-series. Self-describing data contains information such as application context, user identity, data sensitivity, and application lineage. This allows us to apply artificial intelligence and machine learning directly to business data to understand emergent data security threats and deliver cyber recovery. Our Zero Trust Data Security platform assumes that information technology infrastructure will be breached, and nothing can be trusted without authentication. Our data threat engine powered by artificial intelligence and machine learning analyzes the self-describing data time-series to derive security intelligence from data and provide remediation recommendations. Automation is at the core of our architecture ethos. Our automated policy-driven platform delivers data security enforcement, incident response orchestration, and API integrations with the broader security ecosystem. We use the following guiding principles to design our RSC platform and products: • Data resilience. Data is always available, notwithstanding cyberattacks, malicious insiders, and operational disruptions. • Data observability. Data is continuously monitored to strengthen data security posture and minimize attack surface. Emergent security risks are identified, contained, and resolved. • Data remediation. Points of infection are identified, threats are remediated, and impacted data assets are rapidly recovered without malware reinfection. Our business is indexed to business data growth. Our customers’ need for our solutions grows in lockstep with their business data growth and their need for additional data security capabilities. We primarily sell subscriptions to RSC through our sales team and partner network by employing a land and expand sales strategy. We land new customers by selling subscriptions to RSC to secure any one of four distinct types of data: private cloud (which we refer to as enterprise), enterprise NAS(1) (which we refer to as unstructured data), cloud, and SaaS applications. Expansion happens along three vectors: the growth of data from applications already secured by Rubrik; new applications secured; and additional data security products. This expansion is driven by a natural flywheel effect in which the value of our platform increases as our customers’ data grows across various applications. As organizations manage more data with RSC, they gain deeper insights into their data, strengthen their overall security posture, and reduce compliance risk. Our average subscription dollar-based net retention rate was 133% as of January 31, 2024. Our platform’s broad applicability allows us to serve organizations of all sizes across a wide range of industries and geographies. As of January 31, 2024, we had more than 6,100 customers, increasing from over 5,000 customers as of January 31, 2023. Organizations around the world rely on Rubrik to achieve business resilience in the face of cyberattacks, malicious insiders, and operational disruptions. As a result, we have experienced rapid growth, with our subscription annual recurring revenue, or Subscription ARR, increasing from $532.9 million as of January 31, 2023, to $784.0 million as of January 31, 2024, representing a 47% increase, and our total revenue increasing from $599.8 million in the fiscal year ended January 31, 2023, or fiscal 2023, to $627.9 million in the fiscal year ended January 31, 2024, or fiscal 2024. We measure our business on the basis of Subscription ARR. Subscription ARR illustrates our success in acquiring new subscription customers and maintaining and expanding our relationships with existing subscription customers. As of January 31, 2024, we had 1,742 customers generating more than $100,000 in Subscription ARR and 99 customers generating more than $1,000,000 in Subscription ARR. We have continued to invest in growing our business and advancing our solutions to capitalize on our market opportunity. (1) Network-Attached Storage. We were initially incorporated under the laws of the State of Delaware in December 2013 under the name ScaleData, Inc. We changed our name to Rubrik, Inc. in October 2014. Our principal executive offices are located at 3495 Deer Creek Road, Palo Alto, California 94304.

AI Generated Analysis | Feedback

CrowdStrike for data security and ransomware recovery.

ServiceNow for enterprise data protection and recovery.

AI Generated Analysis | Feedback

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Rubrik Security Cloud: A unified software-as-a-service (SaaS) platform that provides data security and data management solutions to protect organizations from cyber threats.
Data Protection & Recovery: Offers comprehensive backup, archival, and instant recovery capabilities for various enterprise workloads across cloud and on-premises environments.
Ransomware Recovery: Provides rapid recovery from cyberattacks by offering immutable backups, threat detection, and orchestrated recovery workflows to minimize downtime.
Data Observability & Governance: Enables organizations to discover sensitive data, monitor data risks, and detect anomalous activity to improve their data security posture and meet compliance requirements.

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AI Generated Analysis | Feedback

Rubrik (symbol: RBRK) primarily sells its enterprise data security, data management, and ransomware recovery solutions to other companies, operating on a business-to-business (B2B) model. Its customer base is highly diversified across various industries globally, including financial services, healthcare, government, manufacturing, and technology.

According to its SEC filings, Rubrik's customer base is broad, and no single customer accounted for more than 1% of its total revenue in recent fiscal periods. This indicates a wide and varied customer portfolio rather than reliance on a few "major" customers by revenue concentration. However, Rubrik highlights numerous prominent organizations as customers in its case studies and marketing materials, showcasing the breadth and impact of its solutions across large enterprises and public sector entities.

Below are examples of some of these notable public company customers identified through Rubrik's public communications and case studies:

BP plc (NYSE: BP)
The Estée Lauder Companies Inc. (NYSE: EL)
National Grid plc (NYSE: NGG)
T-Mobile US, Inc. (NASDAQ: TMUS)
Stora Enso Oyj (HEL: STERV)

Other significant customers, which are private entities or government organizations and thus do not have stock symbols, include AEG (Anschutz Entertainment Group), PricewaterhouseCoopers (PwC), the City of Boston, and the U.S. Department of Defense.

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Amazon (AMZN)
Microsoft (MSFT)
Alphabet (GOOGL)

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Bipul Sinha, CEO, Chairman and Co-Founder
Bipul Sinha co-founded Rubrik in January 2014, and serves as its CEO and Chairman. He is an entrepreneur, engineer, and venture capitalist. Before founding Rubrik, Sinha was a Partner at Lightspeed Venture Partners, where he focused on software, mobile, and internet sectors, with investments including Nutanix, Pulse News, Bromium, and PernixData. Prior to Lightspeed, he worked at Blumberg Capital, where he was the founding investor and board member for Nutanix and Hootsuite. He also held engineering positions at Oracle Corporation, American Megatrends, and IBM. Sinha holds several patents in distributed computing and led Rubrik to a successful IPO on the NYSE in April 2024. Kiran Choudary, Chief Financial Officer
Kiran Choudary leads Rubrik's finance, IT, product operations, and workplace teams. He joined Rubrik in August 2018. Previously, Choudary was the Vice President of Finance & Strategy at Atlassian, where he contributed to the company's successful IPO in 2015. Before Atlassian, he served as Vice President at Goldman Sachs, providing advisory services to technology industry clients on capital raising and mergers and acquisitions. Early in his career, he led software development teams at Oracle. Arvind Nithrakashyap, Co-Founder and CTO
Arvind Nithrakashyap co-founded Rubrik in January 2014. He brings decades of experience in building storage, databases, and distributed systems. Before Rubrik, he led the real-time ad infrastructure team at Rocketfuel and started his career at Oracle, where he co-founded the Exadata storage platform. Peter McGoff, Chief Legal Officer and Corporate Secretary
Peter McGoff has over 20 years of legal experience. Prior to joining Rubrik, he served as Chief Legal Officer and Corporate Secretary at Box, where he contributed to the company's successful IPO in 2015. Before his tenure at Box, McGoff was Senior Vice President and General Counsel at Informatica Corporation. Brian McCarthy, President, Global Field Operations
Brian McCarthy serves as Rubrik's President, Global Field Operations. He is also listed as Chief Revenue Officer.

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Rubrik (RBRK) faces several key business risks, primarily stemming from its financial profile, intense market competition, and the inherent need for continuous innovation in the cybersecurity sector.

1. Lack of Profitability and High Valuation
Despite robust revenue growth, Rubrik has consistently reported net losses since its inception and continues to experience operational losses. For instance, in fiscal years 2023 and 2024, the company incurred net losses of $277.7 million and $354.2 million, respectively. Although Rubrik has recently achieved positive free cash flow and improving gross margins, it is not yet profitable on a GAAP basis and is not projected to reach profitability within the next three years. This financial situation is coupled with a high valuation, as the stock trades at a significant premium price-to-sales (P/S) ratio compared to the broader software sector and IT sector. This elevated valuation suggests that the market has factored in near-perfect execution, leaving minimal room for error. Should Rubrik's revenue forecasts fall short of these high expectations, the stock could experience a significant sell-off. Additionally, negative shareholder equity is noted as a risk.

2. Intense Competition and Pricing Pressure
Rubrik operates in a highly competitive data protection and cybersecurity market. The company competes against a diverse range of players, including fast-growing private entities like Cohesity and Veeam, established incumbents such as Commvault and IBM, and larger cybersecurity firms like Fortinet and Datadog. This intense competitive landscape can lead to significant pricing pressure, which could erode Rubrik's margins and impact its revenue growth and market share. While Rubrik aims to differentiate itself through cyber resilience and a user-friendly, cloud-native architecture, maintaining this edge against numerous innovative competitors is an ongoing challenge.

3. Dependence on Continuous Innovation and Execution Risks
Rubrik's long-term success hinges on its ability to continuously innovate and commercialize pioneering products in the rapidly evolving cybersecurity threat landscape. This strategic imperative necessitates substantial and ongoing investment in multiple technologies to maintain a competitive advantage and stave off rivals. Such a business model carries inherent execution risks, as the significant capital required for continuous innovation may delay the company's path to profitability. Furthermore, the company's success is closely tied to its senior management and skilled personnel, meaning the loss of key employees could disrupt operations and impede innovation and growth.

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The emergence of Microsoft 365 Backup as a native, deeply integrated data protection and recovery service poses a clear emerging threat to Rubrik. While Rubrik offers comprehensive data security and operational resilience across hybrid and multi-cloud environments, including protection for SaaS applications like Microsoft 365, Microsoft's native offering could erode Rubrik's market share in the M365 protection segment. Microsoft 365 Backup offers rapid, petabyte-scale recovery directly within the Microsoft ecosystem, potentially appealing to organizations seeking a consolidated, platform-native solution, thereby reducing the need for third-party vendors for a significant portion of their SaaS data.

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Rubrik (RBRK) operates in a significant and growing market for data security and cyber resilience solutions globally. Based on Gartner estimates, Rubrik's total addressable market (TAM) is projected to reach approximately $36.3 billion by the end of calendar year 2024. This market is expected to expand further to an estimated $52.9 billion by the end of calendar year 2027, representing an average compound annual growth rate (CAGR) of 13%.

The company's addressable market encompasses its core offerings, which include data management (such as backup and recovery software) and security solutions. In 2024, the addressable market for data management is estimated at $12.9 billion, while the security market is projected at $23.4 billion. These figures reflect the global market size.

Rubrik's main products and services are centered around its Zero Trust Data Security platform, Rubrik Security Cloud (RSC), which provides comprehensive data protection, data threat analytics, and cyber recovery solutions across enterprise, cloud, and SaaS environments. The TAM also includes specialized segments such as application security, cloud security, cloud security posture management, data security, and privileged access management software. Rubrik is further expanding its market opportunity by focusing on identity resilience and AI operations.

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Rubrik (RBRK) is expected to drive future revenue growth over the next 2-3 years through several key strategies and market trends:

Expansion of Subscription Annual Recurring Revenue (ARR) and Customer Base: Rubrik consistently reports strong growth in its subscription ARR, indicating both successful acquisition of new customers and increased spending from existing ones. The company has seen a significant rise in customers with $100,000 or more in subscription ARR, which contribute a substantial portion of its total subscription ARR. This expansion within the existing customer base, reflected in a strong subscription Net Revenue Retention (NRR) rate, is a key driver.
Increasing Adoption of Rubrik Security Cloud (RSC) and Cloud-based Solutions: The Rubrik Security Cloud is a central component of the company's growth strategy, with strong adoption leading to significant Cloud ARR growth. Rubrik is expanding its cloud data protection capabilities to cover various platforms, including Amazon RDS for PostgreSQL and Amazon DynamoDB, addressing the increasing need for cyber resilience in multi-cloud environments.
Innovation and Integration of AI-driven Data Security and Identity Resilience: Rubrik is actively investing in and launching new products that integrate data security, identity resilience, and artificial intelligence. The company's focus on identity solutions, such as Rubrik Identity Recovery and Rubrik Identity Resilience, addresses the evolving threat landscape where attackers often target identities. Furthermore, the acquisition of Predibase and the introduction of offerings like Agent Rewind highlight Rubrik's commitment to leveraging generative AI for secure and efficient data management and recovery.
Strategic Focus on Cyber Resilience: Rubrik has firmly positioned itself as a leader in the cyber resilience market, providing solutions that enable enterprises to secure their data, monitor for risks, and rapidly recover from cyberattacks, malicious insiders, and operational disruptions. This strategic alignment with a critical and growing market need provides a significant tailwind for future revenue growth.

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Share Repurchases

Rubrik has not engaged in significant share repurchases, with a reported value of $0.00 for share buybacks.

Share Issuance

Rubrik completed its Initial Public Offering (IPO) on April 25, 2024, selling 23.5 million shares of Class A common stock at $32.00 per share and raising approximately $752 million.
The company granted underwriters an option to purchase up to an additional 3,525,000 shares of Class A common stock at the IPO price.
Rubrik's shares outstanding significantly increased from 0.061 billion in 2024 to 0.154 billion in 2025, marking a 154.49% increase.

Inbound Investments

Microsoft made an equity investment in Rubrik in 2021 as part of a strategic agreement.
This investment reportedly valued Rubrik at approximately $4 billion.
Rubrik has raised a total of $1.18 billion to date from various investors including Bain Capital Ventures, Lightspeed Venture Partners, Greylock Partners, and Khosla Ventures.

Outbound Investments

In August 2023, Rubrik acquired Laminar, a data security posture management (DSPM) platform, for $104.9 million, of which $90.8 million was paid in cash.

Capital Expenditures

Rubrik has projected capital expenditures of $51 million for 2026, increasing to $101 million by 2030, representing approximately 4% of revenue annually.
The company has committed to spending $220 million over the next decade for the use of Microsoft's Azure cloud service.
Rubrik continues to invest in research and development (R&D) to drive innovation across data, security, and artificial intelligence (AI) markets.

Better Bets than Rubrik (RBRK)

	RBRK	Better Performance than RBRK
Metric	Value	INDUSTRY: Systems Software
Rev Chg LTM	48.9%	CRWV (235.4%), BKKT (105.3%), AIOT (92.4%), AEVA (89.9%), EXOD (53.5%)
Op Mgn LTM	-31.7%	MSFT (46.3%), NOW (13.9%), PANW (13.2%), CRWD (-8.6%), NET (-9.6%)
CFO/Rev LTM	22.9%	MSFT (50.0%), PANW (41.6%), NOW (38.2%), CRWD (32.0%), NET (26.8%)
FCF/Rev LTM	20.3%	PANW (38.6%), FTNT (30.9%), NOW (30.8%), MSFT (26.6%), CRWD (24.2%)
Total Yield	-2.4%	MSFT (3.6%), NOW (1.1%), PANW (0.9%), NET (-0.2%), CRWD (-0.3%)
P/S	13.0	AFRM (7.7), FTNT (9.2), CRWV (9.6), MSFT (12.3), NOW (12.7)
P/Op Inc	-40.9

	RBRK	Better Performance than RBRK
Metric	Value	SECTOR: Information Technology
Rev Chg LTM	48.9%	CRWV (235.4%), CRDO (224.2%), ALAB (136.5%), APP (86.4%), NVDA (65.2%)
Op Mgn LTM	-31.7%	NVDA (58.8%), MSFT (46.3%), AVGO (40.8%), ORCL (31.9%), AAPL (31.9%)
CFO/Rev LTM	22.9%	MSFT (50.0%), NVDA (44.4%), AVGO (43.1%), ORCL (36.5%), AAPL (26.6%)
FCF/Rev LTM	20.3%	PLTR (46.0%), AVGO (42.1%), NVDA (41.3%), MSFT (26.6%), AAPL (23.5%)
Total Yield	-2.4%	ORCL (3.8%), MSFT (3.6%), AAPL (2.8%), NVDA (2.3%), AVGO (1.4%)
P/S	13.0	CSCO (5.4), ORCL (9.0), AAPL (10.0), AMD (10.8), MSFT (12.3)
P/Op Inc	-40.9

	RBRK	Better Performance than RBRK
Metric	Value	ALL OTHER SECTORS
Rev Chg LTM	48.9%	HOOD (74.6%), RDDT (69.7%), OKE (58.4%), TFC (55.5%), ALNY (53.2%)
Op Mgn LTM	-31.7%	META (43.2%), LLY (43.0%), GOOGL (32.2%), AMZN (11.4%), TSLA (5.1%)
CFO/Rev LTM	22.9%	V (57.6%), META (56.8%), MA (56.1%), GOOGL (39.3%), JNJ (26.3%)
FCF/Rev LTM	20.3%	BAC (57.3%), V (53.9%), MA (52.5%), ABBV (33.0%), META (23.7%)
Total Yield	-2.4%	BRK-B (6.3%), META (3.8%), GOOGL (3.6%), AMZN (2.9%), TSLA (0.3%)
P/S	13.0	WMT (1.3), BRK-B (2.7), AMZN (3.6), META (8.8), GOOGL (9.6)
P/Op Inc	-40.9

		Best Bets In Information Technology Sector
	RBRK	VRSN	IDCC	NVDA	GEN	ZM	DBX	YOU	MPWR	DAVE	FISV
What You Pay
P/E	-41.2	28.1	17.4	44.4	29.8	16.8	14.9	19.6	23.7	19.7	10.2
P/EBIT	-45.2	20.3	14.1	37.8	10.6	24.4	12.1	21.4	64.9	22.5	6.2
What You Get
Rev Chg Q	48.3%	7.3%	28.0%	62.5%	25.3%	4.4%	-0.7%	15.5%	18.9%	63.0%	0.9%
Rev Chg LTM	48.9%	5.5%	28.8%	65.2%	16.2%	3.8%	-0.4%	17.8%	30.5%	53.8%	5.2%
Rev Chg 3Y Avg	�	5.2%	27.1%	91.6%	16.5%	3.4%	3.4%	31.0%	17.2%	38.6%	6.8%
FCF/Rev 3Y Avg	�	57.4%	54.2%	43.4%	36.7%	36.1%	33.4%	32.5%	28.6%	26.0%	21.5%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 24%, alpha of 2.9%, and sharpe of 1.04

Latest Trefis Analyses

	Title	Topic	Date
0	DASHBOARDS
1	Rubrik Earnings Notes
2	Rubrik (RBRK +22%): Q3 Profitability Inflection Drives AI-Security Re-Rate	Notification
3	With Rubrik Stock Surging, Have You Considered The Downside?	Return
4	How Does Rubrik Stock Stack Up Against Its Peers?	Peer Comparison
5	Rubrik (RBRK) Valuation Ratios Comparison	Financials
6	Rubrik (RBRK) Operating Cash Flow Comparison	Financials
7	Rubrik (RBRK) Net Income Comparison	Financials
8	Rubrik (RBRK) Operating Income Comparison	Financials
9	Rubrik (RBRK) Revenue Comparison	Financials
10	ARTICLES
11	RBRK Stock Analysis: Strong Growth Meets Rich Valuation		December 5th, 2025
12	Buy Or Fear Rubrik Stock?		September 16th, 2025
13	Will Rubrik Stock Trend Higher Post Earnings?		June 3rd, 2025

	Title
0	DASHBOARDS
1	Rubrik Earnings Notes
2	Rubrik (RBRK +22%): Q3 Profitability Inflection Drives AI-Security Re-Rate
3	With Rubrik Stock Surging, Have You Considered The Downside?
4	How Does Rubrik Stock Stack Up Against Its Peers?
5	Rubrik (RBRK) Valuation Ratios Comparison
6	Rubrik (RBRK) Operating Cash Flow Comparison
7	Rubrik (RBRK) Net Income Comparison
8	Rubrik (RBRK) Operating Income Comparison
9	Rubrik (RBRK) Revenue Comparison
10	ARTICLES
11	RBRK Stock Analysis: Strong Growth Meets Rich Valuation
12	Buy Or Fear Rubrik Stock?
13	Will Rubrik Stock Trend Higher Post Earnings?

Trade Ideas

Select past ideas related to RBRK. For more, see Trefis Trade Ideas.

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
ENPH_11302025_Dip_Buyer_High_CFO_Margins_ExInd_DE	11302025	ENPH	Enphase Energy	Dip Buy	DB \| CFO/Rev \| Low D/EDip Buy with High Cash Flow Margins Buying dips for companies with significant cash flows from operations and reasonable debt / market cap	15.3%	15.3%	-0.9%
PD_11262025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG	11262025	PD	PagerDuty	Dip Buy	DB \| FCF Yield \| Low D/EDip Buy with High Free Cash Flow Yield Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap	10.2%	10.2%	0.0%
CRM_11212025_Dip_Buyer_FCFYield	11212025	CRM	Salesforce	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	14.6%	14.6%	-0.1%
HUBS_11212025_Dip_Buyer_High_CFO_Margins_ExInd_DE	11212025	HUBS	HubSpot	Dip Buy	DB \| CFO/Rev \| Low D/EDip Buy with High Cash Flow Margins Buying dips for companies with significant cash flows from operations and reasonable debt / market cap	9.6%	9.6%	0.0%
FIVN_11212025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG	11212025	FIVN	Five9	Dip Buy	DB \| FCF Yield \| Low D/EDip Buy with High Free Cash Flow Yield Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap	8.4%	8.4%	0.0%

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
ENPH_11302025_Dip_Buyer_High_CFO_Margins_ExInd_DE	11302025	ENPH	Enphase Energy	Dip Buy	DB \| CFO/Rev \| Low D/EDip Buy with High Cash Flow Margins Buying dips for companies with significant cash flows from operations and reasonable debt / market cap	15.3%	15.3%	-0.9%
PD_11262025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG	11262025	PD	PagerDuty	Dip Buy	DB \| FCF Yield \| Low D/EDip Buy with High Free Cash Flow Yield Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap	10.2%	10.2%	0.0%
CRM_11212025_Dip_Buyer_FCFYield	11212025	CRM	Salesforce	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	14.6%	14.6%	-0.1%
HUBS_11212025_Dip_Buyer_High_CFO_Margins_ExInd_DE	11212025	HUBS	HubSpot	Dip Buy	DB \| CFO/Rev \| Low D/EDip Buy with High Cash Flow Margins Buying dips for companies with significant cash flows from operations and reasonable debt / market cap	9.6%	9.6%	0.0%
FIVN_11212025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG	11212025	FIVN	Five9	Dip Buy	DB \| FCF Yield \| Low D/EDip Buy with High Free Cash Flow Yield Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap	8.4%	8.4%	0.0%

Recent Active Movers

1 Day Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
LUNR	Intuitive Machines	1.8	37.7%	-17.7%
GTN-A	Gray Media	1.1	30.9%	55.5%
FOLD	Amicus Therapeutics	4.4	30.2%	50.5%
FLY	Firefly Aerospace	3.5	22.8%
CRWV	CoreWeave	40.4	22.6%
EVMN	Evommune	0.5	21.6%
EWTX	Edgewise Therapeutics	2.7	20.8%	-4.3%
FBYD	Falcons Beyond Global	0.7	19.9%	125.4%
ONDS	Ondas	1.4	18.2%	260.2%
BMRN	BioMarin Pharmaceutical	11.7	17.7%	-7.0%

1 Day Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
LW	Lamb Weston	6.2	-25.9%	-32.5%
BB	BlackBerry	2.2	-12.9%	-0.3%
IRON	Disc Medicine	2.8	-11.5%	26.2%
NKE	Nike	86.7	-10.5%	-20.6%
TLRY	Tilray Brands	11.8	-9.6%	-16.1%
OLMA	Olema Pharmaceuticals	2.4	-9.3%	379.1%
KBH	KB Home	3.8	-8.5%	-11.2%
PAHC	Phibro Animal Health	1.5	-7.8%	80.2%
EEX	Emerald	0.9	-7.7%	-1.3%
GETY	Getty Images	0.5	-7.4%	-41.7%

1 Week Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
FBYD	Falcons Beyond Global	0.7	60.2%	125.4%
DJT	Trump Media & Technology	4.5	51.1%	-52.8%
GTN-A	Gray Media	1.1	40.6%	55.5%
FOLD	Amicus Therapeutics	4.4	34.4%	50.5%
EEX	Emerald	0.9	27.4%	-1.3%
LUNR	Intuitive Machines	1.8	24.8%	-17.7%
QURE	uniQure	1.3	23.0%	35.8%
RIVN	Rivian Automotive	27.4	21.9%	68.8%
PHAT	Phathom Pharmaceuticals	1.3	20.4%	115.9%
TE	T1 Energy	1.0	20.2%

1 Week Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
NOW	ServiceNow	32.2	-82.0%	-26.7%
LWLG	Lightwave Logic	0.4	-28.0%	42.4%
LW	Lamb Weston	6.2	-26.3%	-32.5%
INSP	Inspire Medical Systems	2.8	-26.1%	-47.9%
BETR	Better Home & Finance	0.5	-21.1%	269.6%
FDMT	4D Molecular Therapeutics	0.5	-19.9%	55.8%
VSTM	Verastem	0.6	-19.3%	50.1%
CGEM	Cullinan Therapeutics	0.6	-18.8%	-20.5%
USAR	USA Rare Earth	1.4	-18.8%	46343.0%
BW	Babcock & Wilcox Enterprises	0.5	-17.6%	198.8%

1 Month Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
WVE	WAVE Life Sciences	2.6	132.3%	29.2%
TE	T1 Energy	1.0	122.5%
VERA	Vera Therapeutics	3.3	79.4%	21.1%
FTRE	Fortrea	1.6	76.7%	-4.9%
ARWR	Arrowhead Pharmaceuticals	9.5	74.9%	262.6%
ANF	Abercrombie & Fitch	5.8	73.7%	-19.0%
ALMS	Alumis	0.9	71.8%	43.6%
LUNR	Intuitive Machines	1.8	70.5%	-17.7%
VSCO	Victoria's Secret	4.5	63.0%	36.9%
PL	Planet Labs PBC	5.8	62.7%	374.8%

1 Month Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
RZLT	Rezolute	0.2	-82.6%	-63.9%
JANX	Janux Therapeutics	0.9	-52.1%	-74.2%
FRMI	Fermi	5.9	-50.1%
LENZ	LENZ Therapeutics	0.5	-36.6%	-37.7%
GOGO	Gogo	0.6	-34.9%	-44.0%
LWLG	Lightwave Logic	0.4	-34.0%	42.4%
BETR	Better Home & Finance	0.5	-32.1%	269.6%
IMSR	Terrestrial Energy	0.7	-30.8%
ORIC	ORIC Pharmaceuticals	0.6	-30.0%	-0.4%
PBF	PBF Energy	3.0	-29.7%	3.7%

Recent Active Movers

1 Day Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
LUNR	Intuitive Machines	1.8	37.7%	-17.7%
GTN-A	Gray Media	1.1	30.9%	55.5%
FOLD	Amicus Therapeutics	4.4	30.2%	50.5%
FLY	Firefly Aerospace	3.5	22.8%
CRWV	CoreWeave	40.4	22.6%
EVMN	Evommune	0.5	21.6%
EWTX	Edgewise Therapeutics	2.7	20.8%	-4.3%
FBYD	Falcons Beyond Global	0.7	19.9%	125.4%
ONDS	Ondas	1.4	18.2%	260.2%
BMRN	BioMarin Pharmaceutical	11.7	17.7%	-7.0%

1 Day Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
LW	Lamb Weston	6.2	-25.9%	-32.5%
BB	BlackBerry	2.2	-12.9%	-0.3%
IRON	Disc Medicine	2.8	-11.5%	26.2%
NKE	Nike	86.7	-10.5%	-20.6%
TLRY	Tilray Brands	11.8	-9.6%	-16.1%
OLMA	Olema Pharmaceuticals	2.4	-9.3%	379.1%
KBH	KB Home	3.8	-8.5%	-11.2%
PAHC	Phibro Animal Health	1.5	-7.8%	80.2%
EEX	Emerald	0.9	-7.7%	-1.3%
GETY	Getty Images	0.5	-7.4%	-41.7%

1 Week Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
FBYD	Falcons Beyond Global	0.7	60.2%	125.4%
DJT	Trump Media & Technology	4.5	51.1%	-52.8%
GTN-A	Gray Media	1.1	40.6%	55.5%
FOLD	Amicus Therapeutics	4.4	34.4%	50.5%
EEX	Emerald	0.9	27.4%	-1.3%
LUNR	Intuitive Machines	1.8	24.8%	-17.7%
QURE	uniQure	1.3	23.0%	35.8%
RIVN	Rivian Automotive	27.4	21.9%	68.8%
PHAT	Phathom Pharmaceuticals	1.3	20.4%	115.9%
TE	T1 Energy	1.0	20.2%

1 Week Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
NOW	ServiceNow	32.2	-82.0%	-26.7%
LWLG	Lightwave Logic	0.4	-28.0%	42.4%
LW	Lamb Weston	6.2	-26.3%	-32.5%
INSP	Inspire Medical Systems	2.8	-26.1%	-47.9%
BETR	Better Home & Finance	0.5	-21.1%	269.6%
FDMT	4D Molecular Therapeutics	0.5	-19.9%	55.8%
VSTM	Verastem	0.6	-19.3%	50.1%
CGEM	Cullinan Therapeutics	0.6	-18.8%	-20.5%
USAR	USA Rare Earth	1.4	-18.8%	46343.0%
BW	Babcock & Wilcox Enterprises	0.5	-17.6%	198.8%

Peer Comparisons for Rubrik

Peers to compare with:

Financials

	RBRK	CVLT	DELL	NTAP	PSTG	IBM	Median
Name	Rubrik	CommVaul.	Dell Tec.	NetApp	Pure Sto.	Internat.
Mkt Price	78.18	125.19	126.42	111.90	69.13	300.98	118.55
Mkt Cap	15.5	5.6	84.8	22.3	22.8	281.1	22.5
Rev LTM	1,197	1,096	104,090	6,637	3,484	65,402	5,060
Op Inc LTM	-379	86	6,924	1,500	70	11,544	793
FCF LTM	243	209	4,449	1,676	567	11,854	1,121
FCF 3Y Avg	-	201	4,781	1,360	532	11,753	1,360
CFO LTM	273	216	7,096	1,860	821	13,483	1,340
CFO 3Y Avg	-	206	7,474	1,534	759	13,498	1,534

Growth & Margins

	RBRK	CVLT	DELL	NTAP	PSTG	IBM	Median
Name	Rubrik	CommVaul.	Dell Tec.	NetApp	Pure Sto.	Internat.
Rev Chg LTM	48.9%	22.0%	10.8%	2.5%	13.2%	4.5%	12.0%
Rev Chg 3Y Avg	-	11.7%	0.2%	0.6%	9.6%	2.6%	2.6%
Rev Chg Q	48.3%	18.4%	10.8%	2.8%	16.0%	9.1%	13.4%
QoQ Delta Rev Chg LTM	10.5%	4.1%	2.6%	0.7%	4.0%	2.1%	3.3%
Op Mgn LTM	-31.7%	7.8%	6.7%	22.6%	2.0%	17.7%	7.2%
Op Mgn 3Y Avg	-	8.7%	6.1%	20.8%	3.0%	16.4%	8.7%
QoQ Delta Op Mgn LTM	7.9%	-0.7%	0.2%	0.8%	-0.3%	0.6%	0.4%
CFO/Rev LTM	22.9%	19.7%	6.8%	28.0%	23.6%	20.6%	21.7%
CFO/Rev 3Y Avg	-	22.3%	7.8%	23.8%	24.2%	21.4%	22.3%
FCF/Rev LTM	20.3%	19.1%	4.3%	25.3%	16.3%	18.1%	18.6%
FCF/Rev 3Y Avg	-	21.8%	5.0%	21.1%	17.0%	18.6%	18.6%

Valuation

	RBRK	CVLT	DELL	NTAP	PSTG	IBM	Median
Name	Rubrik	CommVaul.	Dell Tec.	NetApp	Pure Sto.	Internat.
Mkt Cap	15.5	5.6	84.8	22.3	22.8	281.1	22.5
P/S	13.0	5.1	0.8	3.4	6.5	4.3	4.7
P/EBIT	-45.2	64.0	10.7	14.8	129.4	24.7	19.7
P/E	-41.2	69.3	16.3	18.9	174.8	35.5	27.2
P/CFO	56.7	25.8	12.0	12.0	27.8	20.8	23.3
Total Yield	-2.4%	1.4%	7.8%	7.2%	0.6%	5.0%	3.2%
Dividend Yield	0.0%	0.0%	1.7%	1.9%	0.0%	2.2%	0.8%
FCF Yield 3Y Avg	-	3.9%	7.4%	6.4%	3.2%	6.4%	6.4%
D/E	0.1	0.2	0.4	0.1	0.0	0.2	0.1
Net D/E	-0.0	-0.0	0.3	-0.0	-0.1	0.2	-0.0

Returns

	RBRK	CVLT	DELL	NTAP	PSTG	IBM	Median
Name	Rubrik	CommVaul.	Dell Tec.	NetApp	Pure Sto.	Internat.
1M Rtn	15.5%	6.4%	7.7%	8.4%	-10.5%	3.6%	7.0%
3M Rtn	-2.6%	-35.7%	-3.8%	-10.2%	-21.3%	13.6%	-7.0%
6M Rtn	-8.6%	-26.6%	6.7%	10.0%	34.0%	8.4%	7.6%
12M Rtn	18.2%	-21.1%	11.2%	-3.6%	7.3%	38.2%	9.3%
3Y Rtn	-	96.9%	244.0%	99.5%	149.4%	136.3%	136.3%
1M Excs Rtn	8.7%	1.9%	3.0%	2.4%	-18.5%	1.4%	2.1%
3M Excs Rtn	-5.0%	-37.5%	-8.6%	-11.9%	-23.4%	9.4%	-10.3%
6M Excs Rtn	-26.3%	-40.7%	-5.5%	-5.1%	16.4%	-8.1%	-6.8%
12M Excs Rtn	-5.8%	-37.7%	-4.1%	-19.7%	-7.8%	21.9%	-6.8%
3Y Excs Rtn	-	22.5%	151.9%	15.0%	54.5%	53.0%	53.0%

Comparison Analyses

	Title
0	How Does Rubrik Stock Stack Up Against Its Peers?

Financials

Annual
Quarterly

$ Mil \| FY: 1/31	LTM	2025	2024	2023	2022	2021
Period End	10/31/2025	1/31/2025	1/31/2024	1/31/2023	1/31/2022	1/31/2021
Filing Date	12/8/2025	3/20/2025	4/26/2024	2/5/2024	3/3/2023	3/3/2023
Key Financials
Total Revenue	1,197	887	628	600	506	388
EBITDA	-310	-1,078	-273	-235	-228	-190
Operating Income	-379	-1,134	-307	-262	-250	-209
Net Income	-377	-1,155	-354	-278	-254	-213
EPS	-1.95	-7.48	-2.01	-1.58	-1.45	-1.21
Growth Rates
Total Revenue Growth	48.9%	41.2%	4.7%	18.5%	30.5%	-
EBITDA Growth	70.7%	-295.2%	-16.1%	-3.0%	-20.2%	-
Operating Income Growth	65.6%	-270.0%	-17.2%	-4.7%	-19.5%	-
Net Income Growth	66.9%	-226.1%	-27.5%	-9.2%	-19.4%	-
Margins
EBITDA Margin	-25.9%	-121.6%	-43.5%	-39.2%	-45.1%	-49.0%
Operating Income Margin	-31.7%	-127.9%	-48.8%	-43.6%	-49.4%	-53.9%
Net Income Margin	-31.5%	-130.3%	-56.4%	-46.3%	-50.3%	-55.0%
Cash & Debt
Total Cash	1,603	705	279	296	139	217
Total Debt	1,141	332	298	189	6	6
Net Debt / (Cash)	-462	-373	18	-107	-132	-211
Cash Flows
Net Cash from Operations	273	48	-5	19	-83	-59
Free Cash from Operations	243	22	-25	-15	-103	-75
Returns to Shareholders
Dividends	0	-0	-0	-0	-0	-0
Share Repurchases	-0	-0	-0	0	1	1

$ Mil \| FY: 1/31	2026Q3	2026Q2	2026Q1	2025Q4	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1
Period End	10/31/2025	7/31/2025	4/30/2025	1/31/2025	10/31/2024	7/31/2024	4/30/2024	1/31/2024	10/31/2023	7/31/2023	4/30/2023
Filing Date	12/8/2025	9/10/2025	6/9/2025	3/20/2025	12/12/2024	9/12/2024	6/13/2024	4/26/2024	12/12/2024	2/5/2024	6/13/2024
Key Financials Quarterly
Total Revenue	350	310	278	258	236	205	187	175	166	152	136
Ebitda	-50	-80	-83	-96	-111	-156	-715	-74	-56	-66	-77
Operating Income	-75	-94	-93	-116	-125	-168	-725	-83	-65	-74	-85
Net Income	-64	-96	-102	-115	-131	-177	-732	-97	-86	-81	-89
EPS	-0.32	-0.49	-0.53	-0.61	-0.71	-0.98	-11.48	-0.55	-0.49	-0.46	-0.51
Key Financials TTM
Total Revenue TTM	1,197	1,083	978	887	803	733	679	628	-	-	-
Ebitda TTM	-310	-371	-446	-1,078	-1,056	-1,001	-911	-273	-	-	-
Operating Income TTM	-379	-428	-502	-1,134	-1,101	-1,042	-947	-307	-	-	-
Net Income TTM	-377	-444	-525	-1,155	-1,137	-1,093	-997	-354	-	-	-
Growth Rates Quarterly
Total Revenue Growth	48.3%	51.2%	48.7%	47.5%	42.6%	35.2%	38.0%	-	-	-	-
EBITDA Growth	55.1%	48.3%	88.4%	-30.1%	-98.6%	-135.9%	-829.5%	-	-	-	-
Operating Income Growth	39.5%	43.9%	87.2%	-39.7%	-91.2%	-128.9%	-756.8%	-	-	-	-
Net Income Growth	51.2%	45.8%	86.1%	-17.8%	-51.7%	-118.1%	-720.1%	-	-	-	-
Margins Quarterly
EBITDA Margin	-14.3%	-26.0%	-29.8%	-37.3%	-47.1%	-75.9%	-381.9%	-42.3%	-33.8%	-43.5%	-56.7%
Operating Income Margin	-21.6%	-30.5%	-33.4%	-45.0%	-52.8%	-82.1%	-387.0%	-47.5%	-39.4%	-48.5%	-62.3%
Net Income Margin	-18.2%	-31.0%	-36.7%	-44.5%	-55.4%	-86.3%	-390.8%	-55.7%	-52.1%	-53.5%	-65.8%
Cash & Debt
Total Cash	1,603	1,523	762	705	632	601	606	279	-	262	-
Total Debt	1,141	1,141	335	332	326	317	308	298	0	195	0
Net Debt / (Cash)	-462	-382	-427	-373	-306	-284	-299	18	-	-67	-
Cash Flows Quarterly
FCF from Operations	85	65	40	84	23	-27	-31	13	7	-7	-17
Cash Flows TTM
FCF from Operations TTM	273	211	119	48	-23	-39	-18	-5	-	-	-
Returns to Shareholders Quarterly
Dividends	0	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0
Return on Invested Capital (ROIC) Quarterly
ROIC	-14.3%	-18.1%	-19.0%	-24.3%	-26.3%	-37.2%	-180.8%	-118.1%	-	-164.8%	-
Return on Invested Capital (ROIC) TTM
ROIC TTM	-17.9%	-20.5%	-25.7%	-59.3%	-58.1%	-57.6%	-59.1%	-108.9%	-	-	-

Segment Financials

Revenue by Segment

$ Mil	2025	2024	2023	2022
Software and services	628
Maintenance		76	91	90
Other		138	155	135
Subscription		385	261	163
Total	628	600	506	388

Net Income by Segment

$ Mil	2025	2024	2023	2022
Software and services	-354
Total	-354

Price Behavior

Price Behavior

Market Price	$78.18
Market Cap ($ Bil)	15.2
First Trading Date	04/25/2024
Distance from 52W High	-21.6%
	50 Days	200 Days
DMA Price	$75.60	$72.93
DMA Trend	indeterminate	down
Distance from DMA	3.4%	7.2%
	3M	1YR
Volatility	63.9%	67.3%
Downside Capture	247.48	179.26
Upside Capture	206.02	170.17
Correlation (SPY)	39.7%	52.5%

RBRK Betas & Captures as of 11/30/2025

	1M	2M	3M	6M	1Y	3Y
Beta	2.02	1.78	1.49	1.65	1.77	0.04
Up Beta	1.03	1.60	1.42	2.58	1.86	-0.11
Down Beta	3.60	1.57	1.64	1.95	1.84	-0.30
Up Capture	181%	106%	43%	44%	249%	73%
Bmk +ve Days	13	26	39	74	142	427
Stock +ve Days	9	20	31	63	130	213
Down Capture	212%	232%	204%	176%	128%	95%
Bmk -ve Days	7	16	24	52	107	323
Stock -ve Days	11	22	32	62	118	185

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

1Y 5Y 10Y

Based On 1-Year Data

null

Based On 5-Year Data

null

Based On 10-Year Data

null

Short Interest

Short Interest: As Of Date	11282025
Short Interest: Shares Quantity	11,448,039
Short Interest: % Change Since 11152025	-8.9%
Average Daily Volume	2,052,680
Days-to-Cover Short Interest	5.58
Basic Shares Quantity	198,379,000
Short % of Basic Shares	5.8%

Returns Analyses

	Title
0	With Rubrik Stock Surging, Have You Considered The Downside?

Earnings Returns History

Expand for More

	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
12/4/2025	22.5%	23.6%
9/9/2025	-18.1%	-23.9%	-14.5%
6/5/2025	-0.7%	-10.0%	-7.1%
3/13/2025	27.8%	27.0%	6.7%
12/5/2024	20.4%	38.3%	19.9%
9/9/2024	-1.5%	-2.1%	8.0%
6/11/2024	-8.9%	-13.1%	-4.0%
SUMMARY STATS
# Positive	3	3	3
# Negative	4	4	4
Median Positive	22.5%	27.0%	8.0%
Median Negative	-5.2%	-11.5%	-7.1%
Max Positive	27.8%	38.3%	19.9%
Max Negative	-18.1%	-23.9%	-14.5%

	Forward Returns
12/4/2025	22.5%	23.6%
9/9/2025	-18.1%	-23.9%	-14.5%
6/5/2025	-0.7%	-10.0%	-7.1%
3/13/2025	27.8%	27.0%	6.7%
12/5/2024	20.4%	38.3%	19.9%
9/9/2024	-1.5%	-2.1%	8.0%
6/11/2024	-8.9%	-13.1%	-4.0%
SUMMARY STATS
# Positive	3	3	3
# Negative	4	4	4
Median Positive	22.5%	27.0%	8.0%
Median Negative	-5.2%	-11.5%	-7.1%
Max Positive	27.8%	38.3%	19.9%
Max Negative	-18.1%	-23.9%	-14.5%

SEC Filings

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Report Date	Filing Date	Filing
10312025	12082025	10-Q 10/31/2025
7312025	9102025	10-Q 7/31/2025
4302025	6092025	10-Q 4/30/2025
1312025	3202025	10-K 1/31/2025
10312024	12122024	10-Q 10/31/2024
7312024	9122024	10-Q 7/31/2024
4302024	6132024	10-Q 4/30/2024
1312024	4262024	424B4 1/31/2024
1312023	2052024	DRS/A 1/31/2023
1312022	3032023	DRS/A 1/31/2022

Industry Resources

Systems Software Resources

Software Development Times

External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

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Rubrik (RBRK)

Market Price (12/21/2025): $78.33 | Market Cap: $15.5 BilSector: Information Technology | Industry: Systems Software

Rubrik (RBRK)

Market Price (12/21/2025): $78.33Market Cap: $15.5 BilSector: Information TechnologyIndustry: Systems Software

Valuation, Metrics & Events

RBRK Stock

Why The Stock Moved

Qualitative Assessment

Stock Movement Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Return vs. Risk

Price Returns Compared

How Low Can It Go

In The Past

Preserve Wealth

Asset Allocation

About Rubrik (RBRK)

1. Lack of Profitability and High Valuation

2. Intense Competition and Pricing Pressure

3. Dependence on Continuous Innovation and Execution Risks

Share Repurchases

Share Issuance

Inbound Investments

Outbound Investments

Capital Expenditures

Interactive Breakdown

Better Bets than Rubrik (RBRK)

Latest Trefis Analyses

Trade Ideas

Recent Active Movers

1 Day Top Gainers

1 Day Top Losers

1 Week Top Gainers

1 Week Top Losers

1 Month Top Gainers

1 Month Top Losers

Recent Active Movers

1 Day Top Gainers

1 Day Top Losers

1 Week Top Gainers

1 Week Top Losers

More From Trefis

Research & Analysis

Invest in Strategies

Wealth Management

Peer Comparisons for Rubrik

Financials

Growth & Margins

Valuation

Returns

Comparison Analyses

FDIC Bank Data

Bank Capital

Bank Deposits

Bank Assets

Bank Loans

FDA Approved Drugs Data

Financials

Segment Financials

Price Behavior

Based On 1-Year Data

Based On 5-Year Data

Based On 10-Year Data

Short Interest

Returns Analyses

Earnings Returns History

SEC Filings

Insider Activity

Industry Resources

External Quote Links

Market Price (12/21/2025): $78.33 | Market Cap: $15.5 Bil
Sector: Information Technology | Industry: Systems Software

Market Price (12/21/2025): $78.33
Market Cap: $15.5 Bil
Sector: Information Technology
Industry: Systems Software