RingCentral, Inc. RNG

Information TechnologySoftware & IT ServicesUnited States of America

Last close 77.74 USD on Nov 2, 2026, +170.6% year to date

Quant rating

Quant rating A Rank 43 of 389 in Information Technology

Growth C 219 of 389
Valuation A 19 of 389
Quality B 97 of 389
Revisions D 311 of 389
Momentum A 4 of 389

Wall Street consensus Hold (2.53)Average target 92.81 USD +19.4%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 6.6B
Enterprise value: 7.7B
52-week range: 24.14 – 97.95
3-year range: 21.51 – 97.95
Dividend yield: 0.61%
Beta (5 years): 1.04
Shares outstanding: 84.5M
Next earnings: Feb 17, 2027

About the company

RingCentral, Inc. specializes in agentic voice artificial intelligence (AI)-powered business communications, delivering an integrated platform for business phone, SMS, contact center, workforce engagement management, video collaboration, and messaging. The Company's agentic AI portfolio includes autonomous voice-first AI agents that automate calls, assist in the moment, and analyze every interaction. Its multi-product portfolio includes RingEX, RingCentral Contact Center, RingCX, RingCentral Customer Engagement Bundle, RingCentral Artificial Intelligence Solutions, RingCentral for Microsoft Teams, and RingCentral Events. RingEX is its AI-powered Unified Communications as a Service (UCaaS) platform, enabling collaboration across voice, messaging, and video. RingCentral Contact Center is a collaborative contact center solution that delivers AI-powered omni-channel and workforce engagement solutions integrated with RingEX. RingCX provides Contact Center as a Service (CCaaS) solution.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	2,515	2,400	2,202	1,988	1,595	–
Revenue growth	4.8%	9.0%	10.8%	24.7%	34.7%	16.3%
EPS (basic, normalized)	4.36	3.70	3.23	1.99	1.34	–
EPS growth	17.8%	14.6%	62.3%	48.5%	–	–
Gross margin	71.2%	70.6%	69.8%	67.7%	71.9%	70.3%
Net margin	1.7%	−2.4%	−7.5%	−44.2%	−23.6%	−15.2%
ROE	–	–	–	−689.3%	−88.5%	−388.9%

Balance sheet, last quarter
Cash & short-term investments (mil)	102
Current ratio	1.06x
Long-term debt (mil)	962
Net debt (mil)	1,108
Total equity (mil)	187
Net debt / equity	5.92x
Net debt / EBITDA	1.70x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	2,515	+4.8%	3.1x	653	+10.4%	11.8x	4.36	+17.8%	17.8x
2026	2,662	+5.8%	2.9x	739	+13.2%	10.4x	5.10	+17.0%	15.2x
2027	2,790	+4.8%	2.8x	783	+5.8%	9.8x	5.54	+8.7%	14.0x
2028	2,916	+4.5%	2.6x	834	+6.6%	9.2x	6.12	+10.4%	12.7x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	2,662	+0.8%	+0.8%	+1.3%	5.10	+1.3%	+1.2%	+5.2%
2027	2,790	+1.0%	+1.0%	+1.5%	5.54	−0.8%	−0.8%	+2.8%
2028	2,916	+1.2%	+1.1%	+2.0%	6.12	−0.7%	−0.5%	0.0%

Earnings surprises EPS beat in 4 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	584	593	609	615	612	620	639	644	644	657
Sales mean (mil)	578	586	602	612	611	618	636	644	643	651
Surprise	+1.0%	+1.1%	+1.1%	+0.4%	+0.2%	+0.4%	+0.5%	+0.1%	+0.2%	+1.0%
EPS reported	0.87	0.91	0.95	0.98	1.00	1.06	1.13	1.18	1.20	1.22
EPS mean	0.80	0.88	0.92	0.97	0.96	1.02	1.07	1.14	1.17	1.16
Surprise	+9.0%	+3.7%	+2.9%	+1.4%	+4.4%	+3.6%	+5.2%	+3.6%	+3.0%	+4.8%

Peer comparison Software & IT Services

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
RNG RingCentral, Inc.	6.6B	1.70x	1.7%	35.10x	15.2x	14.0x	10.4x	9.8x
GOOGL Alphabet Inc.	3.42T	−0.67x	32.8%	5.06x	14.2x	18.7x	14.3x	10.8x
MSFT Microsoft Corporation	3.77T	0.22x	40.3%	8.00x	25.4x	21.2x	15.6x	12.5x
META Meta Platforms, Inc.	1.58T	0.01x	37.1%	5.69x	21.0x	18.0x	11.3x	8.8x
ORCL Oracle Corporation	361.4B	2.81x	26.6%	5.40x	14.6x	10.8x	8.8x	6.1x
PANW Palo Alto Networks, Inc.	287.9B	−0.31x	2.7%	10.43x	84.1x	72.1x	57.7x	49.7x
Mean		0.63x	23.5%	11.61x	29.1x	25.8x	19.7x	16.3x
Median		0.11x	29.7%	6.85x	18.1x	18.4x	12.8x	10.3x

Technical analysis

1M−0.7%
3M+40.1%
1Y+159.5%
3Y+186.8%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, RingCentral, Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	2,515	2,400	2,202	1,988	1,595	1,184
Cost of revenue	723	706	664	642	448	324
Gross profit	1,792	1,695	1,538	1,347	1,146	860
Selling, general & administrative expenses	1,334	1,355	1,401	1,350	1,138	784
Research & development	312	326	336	362	310	189
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	25.3	3.6	−64.9	283	−1.1	13.3
Other operating expenses	0	0	0	0	0	0
Operating income	121	10.4	−134	−648	−301	−127
Net interest income (expense)	−57.6	−57.0	−36.0	197	−48.8	27.9
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	−6.7	−0.6	13.1	−423	−24.3	16.6
Net income before taxes	56.2	−47.2	−157	−874	−374	−82.1
Provision for taxes	12.8	11.1	8.4	5.1	2.5	0.9
Minority interest	–	–	–	–	–	–
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	43.4	−58.3	−165	−879	−376	−83.0
Extraordinary items	–	–	–	–	–	–
Net income	43.4	−58.3	−165	−879	−376	−83.0
EBIT, normalized	150	15.3	−199	−366	−302	−113
EBITDA, normalized	373	238	35.2	−119	−176	−37.6
Basic EPS, normalized	4.36	3.70	3.23	1.99	1.34	–

Balance sheet in millions of USD, fiscal years

Balance sheet, RingCentral, Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	133	243	222	270	267	640
Receivables	384	386	364	311	233	176
Total inventory	0.9	1.2	1.5	1.2	5.7	0.6
Prepaid expenses	43.1	39.9	32.4	23.3	26.3	18.5
Other current assets	204	201	228	190	119	91.2
Total current assets	765	871	849	796	651	926
Property, plant & equipment	217	227	227	221	214	193
Goodwill	97.8	83.0	67.4	54.3	55.5	57.3
Intangibles	135	259	394	528	717	118
Long-term investments	–	–	–	4.6	210	213
Note receivable	–	–	–	–	–	–
Other long-term assets	266	340	408	470	732	676
Total assets	1,481	1,780	1,945	2,074	2,579	2,185
Liabilities
Accounts payable	27.7	21.9	53.3	62.7	70.0	54.0
Payable/accrued	–	–	–	–	–	–
Accrued expenses	298	284	326	380	280	211
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	624	181	20.0	–	0	31.1
Other current liabilities	269	262	234	210	176	142
Total current liabilities	1,219	749	633	653	526	438
Long-term debt	630	1,348	1,525	1,638	1,398	1,375
Minority interest	–	–	–	–	–	–
Other liabilities	21.9	34.7	90.0	66.0	116	59.0
Total liabilities	1,870	2,131	2,248	2,357	2,041	1,872
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	0	0	0	0	0	0
Additional paid-in capital	1,123	1,215	1,205	1,060	1,087	674
Retained earnings (accumulated deficit)	−1,714	−1,757	−1,699	−1,534	−749	−372
Treasury stock	–	–	–	–	–	–
Other equity	202	191	191	191	200	10.6
Total equity	−389	−351	−303	−283	538	312
Total liabilities & shareholders' equity	1,481	1,780	1,945	2,074	2,579	2,185

Cash flow statement in millions of USD, fiscal years

Cash flow statement, RingCentral, Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	43.4	−58.3	−165	−879	−376	−83.0
Depreciation, depletion & amortization	223	223	234	247	125	75.6
Deferred taxes	–	–	–	–	–	−0.5
Non-cash items	498	527	546	1,048	529	202
Changes in working capital	−147	−208	−215	−224	−126	−230
Cash from operations	617	483	400	191	152	−35.2
Investing activities
Capital expenditures	−87.2	−83.1	−75.7	−90.4	−385	−108
Other investing cash flows	−20.8	−26.3	−14.7	3.2	−11.9	0
Cash from investing	−108	−109	−90.4	−87.2	−397	−108
Financing activities
Financing cash flow items	−20.1	−21.2	−12.6	−9.5	−25.4	−143
Cash dividends paid	–	–	–	–	–	–
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−603	−330	−345	−88.8	−102	581
Cash from financing	−623	−351	−358	−98.2	−127	438
Foreign exchange effects	3.7	−2.2	1.0	−3.1	−1.0	1.5
Net change in cash	−110	20.6	−47.8	2.8	−373	296
Free cash flow	530	400	324	101	−233	−143

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 2, 2026 after market close.