RingCentral, Inc. (RNG) intrinsic value & 10-year financials
RingCentral, Inc. (RNG) has a Graham intrinsic value of $15.94 per share. At $75.44 on Oct 17, 2026, the stock trades 373% above that value. Over the last 10 fiscal years revenue grew 23.4% a year to $2.5B, with an average return on invested capital of 32.1%.
- Graham intrinsic value
- $15.94
- Share price (Oct 17, 2026)
- $75.44
- Price vs Graham value
- 373% above
- Market cap
- $6.9B
- Revenue (FY2025)
- $2.5B
- Revenue growth (10-yr CAGR)
- 23.4%
- ROIC (10-yr avg)
- 32.1%
- Free cash flow (FY2025)
- $587.3M
RNG 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $2.5B | $43.4M | $0.48 | $587.3M | 4.8% | 14.2% |
| FY2024 | $2.4B | -$58.3M | -$0.63 | $458.3M | 0.1% | 0.3% |
| FY2023 | $2.2B | -$165.2M | -$1.74 | $376.1M | -9.0% | -22.7% |
| FY2022 | $2.0B | -$879.2M | -$9.23 | $158.6M | -32.7% | -128.7% |
| FY2021 | $1.6B | -$376.2M | -$4.10 | $123.2M | -18.9% | 319.3% |
| FY2020 | $1.2B | -$83.0M | -$0.94 | -$78.8M | -9.6% | -164.2% |
| FY2019 | $902.9M | -$53.6M | -$0.64 | $37.1M | -5.1% | -47.3% |
| FY2018 | $673.6M | -$26.2M | — | $45.0M | -2.4% | 6.6% |
| FY2017 | $503.6M | -$26.1M | — | $21.7M | -5.4% | 176.3% |
| FY2016 | $380.4M | -$29.3M | — | $15.5M | -6.8% | 167.7% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
RingCentral, Inc. is a consistent compounder, expanding top-line revenue at 23.4% annually over the past decade.
RingCentral, Inc. has historically struggled to out-earn its cost of capital, averaging just -17.3% ROIC.
Over the decade, RingCentral, Inc. shows that the company has leveraged its balance sheet to sustain operations.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, RingCentral, Inc. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $15.94 per share.