RingCentral, Inc.
Rank #5ValueRNG · NYSE · Technology
RingCentral, Inc. (RNG) — Rank #5 by gross profitability (GP/assets 1.30) · ROE -7.1% · Piotroski F-Score 8 / 9.
As-of 2026-09-15 · CIK 0001384905 · all metrics point-in-time as of the filing date.
About
RingCentral, Inc., an agentic voice AIpowered cloud business communication services provider, delivering an integrated platform for business phone, SMS, contact center, workforce engagement management, video collaboration, and messaging.
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The company's products include RingEX, a AI-powered unified communications as a service platform for collaboration across voice, messaging, and video; RingCentral Contact Center, a contact center solution that delivers AI-powered omni-channel and workforce engagement solutions; RingCentral Customer Engagement Bundle, a comprehensive solution that includes phone, messaging, and SMS for businesses; and RingCX, a contact center as a service solution for AI-powered customer engagement with CRM integrations. It also offers artificial intelligence (AI) solutions, such as AI Receptionist, a voice AI agent that automates and handles inbound communication; AI Virtual Assistant, which provides real time call and meeting summaries, capturing key points, open questions and action items; AI-based Quality Management, an automated conversation evaluation platform to identify compliance risks, coaching opportunities, and performance insights; AI Agent Assist, a real-time AI guidance for agents; AI Supervisor Assist, a real-time AI insights and recommendations for supervisors; and RingCentral Events, a virtual and hybrid events platform for multi-session conferences, branded experiences, registration, and attendee networking with AI-powered engagement tools. It serves a range of industries, including healthcare, financial and professional services, retail, state and local government, education, legal services, real estate, technology, insurance, construction and hospitality, and others. The company sells its products to enterprise customers, and small and medium-sized businesses through resellers and distributors, partners, and global service providers. RingCentral, Inc.
was incorporated in 1999 and is headquartered in Belmont, California.
- Industry
- Software - Application
- Sector
- Technology
- Filer Category
- Large accelerated filer
- Fiscal Year End
- December 31
- Website
- ringcentral.com
Price History
Company Snapshot
P/E and dividend yield are the primary valuation lenses for mature businesses.
Market Cap
$6.04B
P/E (annual)
150.8
P/S (annual)
2.4
P/B
—
P/OCF (annual)
9.8
Shareholder Yield
1.0%
Employees
7,378
Industry
Software - Application
Exchange
NYSE
Signal Flags
Quality Profile
Profitability
1/1 passSafety
1/1 passCash Flow
3/3 passGrowth
2/2 passTerry Smith quality gate
Passes 3/5 Terry Smith thresholds1 of 5 threshold not computable from filed data.
What Growth Is Priced In
Implied revenue growth (10Y)
-0.2%
The annual FCF growth rate today's price requires over a 10-year horizon (discount rate 10%, terminal growth 2.5%).
Buyback tailwind: -1.0% — per-share value needs a total required return of -1.2% once share-count change is priced in.
vs. own 6-year median revenue growth: 17.7%
within its own historyCost-of-equity sensitivity (implied growth at different discount rates)
r = 8%
-4.0%
r = 10% (base)
-0.2%
r = 12%
3.1%
Net debt / market cap: 15.3%
Note: current FCF margin is 1.6σ above its historical mean — implied growth may understate valuation risk if the margin reverts.
Valuation History
Current multiple vs historical range at each filing date. Band spans 25th-75th percentile.
P / S
Price / revenue per share
P / GP
Price / gross profit per share
P / FCF
Price / free cash flow per share
Earnings bubble check
Current margins may be above sustainable levels — a P/E based on peak earnings can overstate cheapness.
Dividend yield and payout ratio are the primary reads at this stage (trailing P/E — see valuation above).
Profitability
Gross profitability (GP / assets)
1.30
Primary signal (Novy-Marx).
2nd of 13 SIC 7374 peers
Return on equity
-7.1%
Gross margin
71.2%
6th of 13 SIC 7374 peers
Revenue growth (YoY)
4.8%
RPO growth (YoY)
0.0%
Remaining performance obligations growth — RPO > revenue = forward demand building.
Gross margin improving
Margin trend vs prior year.
Operating Leverage
| 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|
| Revenue vs COGS | ||||
| Revenue vs OpEx | ||||
| Op. Income vs Revenue |
Growth
Revenue CAGR (3Y)
8.1%
Revenue CAGR (5Y)
16.3%
Earnings CAGR (3Y)
—
FCF CAGR (3Y)
54.7%
Anti-fragile safety
Balance-sheet safety
Composite anti-fragile check.
Debt / equity
—
Current ratio
1.11×
11th of 13 SIC 7374 peers
Quick ratio
0.76×
Net cash
-$1.01B
Cash & equivalents minus total debt.
Cash-flow health
Free cash flow
$587.32M
Operating cash flow minus capex.
Positive free cash flow
FCF / net income
12.54
Cash-backing of earnings.
FCF/NI divergence
Unfavorable divergence (yellow flag).
Accruals healthy
Cash-backed earnings.
SBC / revenue
10.7%
Stock-based comp intensity.
Piotroski F-Score
F-Score
8 / 9
Fundamental-strength score (0-9).