Rivian Automotive, Inc.RIVN
NasdaqGS•Consumer Cyclical•Auto Manufacturers
Rivian Automotive, Inc., together with its subsidiaries, develops, manufactures, and sells category-defining electric vehicles. It operates through two segments, Automotive, and Software and Services. The company offers consumer vehicles, including a two-row, five-passenger pickup truck under the R1T brand; and a three-row, seven-passenger sport utility vehicle under the R1S name. It also provides software and services, such as vehicle electrical architecture and software development, as well as Autonomy+, remarketing, vehicle repair and maintenance services, software subscriptions, vehicle accessories, financing, insurance, and other services. In addition, the company designs, develops, and manufactures the Rivian Adventure Network Direct Current fast chargers; and FleetOS, a proprietary, end-to-end centralized fleet management subscription platform. Further, it offers Rivian Commercial Van platform for Electric Delivery Van with collaboration with Amazon.com, Inc. Rivian Automotive, Inc. was founded in 2009 and is based in Irvine, California.
Rivian Automotive, Inc. (RIVN) reported trailing twelve months revenue of $5.53B as of March 2026, a 10.4% increase year-over-year. Quarterly revenue reached $1.38B, reflecting continued top-line momentum.
Rivian Automotive, Inc. reported a TTM net loss of $3.52B, with quarterly EBITDA of $-687.00M. The operating margin contracted from -52.8% to -63.8%, suggesting rising cost pressures or pricing headwinds.
The spread between operating margin (-63.8%) and net margin (-30.1%) indicates tight cost control with minimal non-operating drag. Net margin has improved from -44.0% a year ago, signaling stronger bottom-line efficiency.
RIVN trades at a P/S of 3.3x. The price-to-book ratio of 4.1x reflects a moderate premium to book value.
The company reported negative free cash flow of $-1.07B, indicating cash consumption over the period. The balance sheet shows $14.23B in total assets with $4.44B in long-term debt against $4.43B in stockholders equity for a debt-to-equity ratio of 1.0. Data based on the most recent quarterly reports.
Competitive analysis based on 19 quarters of fundamental data
Operating margins are under pressure, averaging -77.6%. The business may lack pricing power or face rising costs.'
ROE is low or negative, suggesting limited competitive advantage or capital allocation challenges.
Only 1 of the last 8 quarters had positive FCF — the business may require external capital to sustain operations.
Revenue shows resilience with 5 of 7 quarters posting growth — demand is generally stable but has seen some soft patches.
Data-driven red flags and warnings across 19 quarters
The company posted negative operating margins in recent quarters — core operations are unprofitable.
Free cash flow has been negative in 7 of the last 8 quarters — earnings are not translating to cash.
Debt-to-equity has risen 40.6% recently — increasing financial risk even if the current ratio is manageable.
Revenue is stable or growing over recent quarters — demand appears durable.
The last 5 consecutive quarters had negative FCF — the company is burning cash and may need external funding.
Shares outstanding increased 24.8% — significant dilution, likely from stock compensation or capital raises.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation