Quality Investor

Rubrik, Inc.

Rank #158Hypergrowth

RBRK · NYSE · Technology

Rubrik, Inc. (RBRK) — Rank #158 by gross profitability (GP/assets 0.37) · ROE 69.8% · Piotroski F-Score N/A.

As-of 2026-09-15 · CIK 0001943896 · all metrics point-in-time as of the filing date.

About

Rubrik, Inc. provides data security solutions to individuals and businesses worldwide.

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The company offers enterprise data protection, unstructured data protection, cloud data protection, SaaS data protection solutions, and identity provider services protection; data threat analytics; data security posture; identity recovery and resilience services; and cyber recovery solutions. It also provides RUBY, an AI agent for cyber resilience designed to scale data security operations through automation; SENTRYAI, a proprietary AI deep learning-based platform for system health monitoring; and RUBRIK UNIVERSITY, which includes instructor-led training with hands-on labs, on-demand e-learning courses, and certification exams, as well as offers cloud services. It serves financial, retail, trade, transportation, energy, industrial, healthcare and life science, education, technology, media, communications, services, and public sectors. Rubrik, Inc. has strategic collaboration with MEDITECH to offer native cyber resilience to MEDITECH self-hosted cloud and on-premises solutions. Rubrik, Inc. was formerly known as Scaledata, Inc. and changed its name to Rubrik, Inc. in October 2014.

The company was incorporated in 2013 and is based in Palo Alto, California.

Industry
Software - Infrastructure
Sector
Technology
State
DE
Filer Category
Large accelerated filer
Fiscal Year End
January 31
Website
rubrik.com

Price History

RBRK+134.2% · +43.2% CAGRSPY+55.9% · +20.6% CAGR

Company Snapshot

P/S is the primary valuation lens — earnings are reinvested, not available for P/E.

Market Cap

$20.58B

P/E (annual)

P/S (annual)

15.6

P/B

P/OCF (annual)

72.8

Shareholder Yield

-27.3%

Employees

3,797

Industry

Software - Infrastructure

Exchange

NYSE

Signal Flags

2 green1 yellow
Revenue growth acceleratingGrowth rate increasing year over year
Deferred revenue growingRevenue and deferred revenue both growing — retention signal
Dilution above 2%Annual share count increase exceeds 2%. May be acceptable for high-growth companies funding talent via stock compensation

Quality Profile

Profitability

1/1 pass
GP / assets
0.37
Return on equity
69.8%
Gross margin trend
PASS

Safety

1/1 pass
Balance-sheet safety
PASS
Debt / equity
Current ratio
1.64×
Net cash
$1.42B

Cash Flow

3/3 pass
Positive FCF
PASS
Cash-backed earnings
PASS
Accruals healthy
PASS
SBC / revenue
25.0%

Growth

1/2 pass
Revenue growth
48.5%
Piotroski F-Score
N/A
Share dilution
27.3%

Terry Smith quality gate

Passes 1/5 Terry Smith thresholds

2 of 5 thresholds not computable from filed data.

What Growth Is Priced In

Implied revenue growth (10Y)

26.3%

stretched

The annual FCF growth rate today's price requires over a 10-year horizon (discount rate 10%, terminal growth 2.5%).

Dilution drag: 27.3% — per-share value needs a total required return of 53.6% once share-count change is priced in.

vs. own 6-year median revenue growth: 41.2%

within its own history

Cost-of-equity sensitivity (implied growth at different discount rates)

r = 8%

21.0%

r = 10% (base)

26.3%

r = 12%

30.9%

Net debt / market cap: -7.3%

Base FCF: $253.3M3Y mean FCF: $105.3M

Valuation History

Current multiple vs historical range at each filing date. Band spans 25th-75th percentile.

P / S

Price / revenue per share

7.6xFair
6.8xmed 7.3x12.2x

P / GP

Price / gross profit per share

9.5xFair
8.8xmed 9.7x17.4x

Revenue growth and the path to profitability (margin trend) are the primary reads at this stage.

Profitability

Gross profitability (GP / assets)

0.37

Primary signal (Novy-Marx).

51st pctl of 38 SIC 7372 peers

Return on equity

69.8%

Gross margin

80.1%

81st pctl of 38 SIC 7372 peers

Revenue growth (YoY)

48.5%

RPO growth (YoY)

32.5%

Remaining performance obligations growth — RPO > revenue = forward demand building.

Gross margin improving

Margin trend vs prior year.

PASS

Operating Leverage

2023202420252026
Revenue vs COGS
Revenue vs OpEx
Op. Income vs Revenue

Growth

Revenue CAGR (3Y)

29.9%

Revenue CAGR (5Y)

Earnings CAGR (3Y)

FCF CAGR (3Y)

Anti-fragile safety

Balance-sheet safety

Composite anti-fragile check.

PASS

Debt / equity

Current ratio

1.64×

35th pctl of 38 SIC 7372 peers

Quick ratio

1.46×

Net cash

$1.42B

Cash & equivalents minus total debt.

Cash-flow health

Free cash flow

$253.28M

Operating cash flow minus capex.

Positive free cash flow

PASS

FCF / net income

1.73

Cash-backing of earnings.

FCF/NI divergence

Unfavorable divergence (yellow flag).

PASS

Accruals healthy

Cash-backed earnings.

PASS

SBC / revenue

25.0%

Stock-based comp intensity.

Piotroski F-Score

F-Score

N/A

Only 8/9 components determinable.

Lifecycle Phase History

20232026
Hypergrowth