Company Valuation: RingCentral, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 17,507 3,399 3,183 3,151 2,473 3,293 - -
Change - -80.58% -6.37% -1.01% -21.51% 33.17% - -
Enterprise Value (EV) 1 18,638 4,731 4,506 4,437 3,594 4,003 3,894 3,938
Change - -74.62% -4.76% -1.53% -19% 11.37% -2.72% 1.12%
P/E ratio -45.7x -3.84x -19.5x -55.6x 60.2x 25.3x 13.8x 11.1x
PBR 50.7x -6.98x -10.6x -9.18x -6.54x -11.7x 219x 175x
PEG - -0x 0.2x 0.9x -0x 0x 0.2x 0.4x
Capitalization / Revenue 11x 1.71x 1.45x 1.31x 0.98x 1.25x 1.2x 1.15x
EV / Revenue 11.7x 2.38x 2.05x 1.85x 1.43x 1.52x 1.42x 1.37x
EV / EBITDA 84.3x 14.9x 8.96x 7.52x 5.5x 5.58x 5.22x 4.89x
EV / EBIT 115x 19.2x 10.7x 8.8x 6.35x 6.53x 5.92x 5.52x
EV / FCF 234x 45.1x 12x 62.5x 6.12x 6.92x 6.5x 6.45x
FCF Yield 0.43% 2.22% 8.35% 1.6% 16.3% 14.5% 15.4% 15.5%
Dividend per Share 2 - - - - - 0.3 0.3033 0.31
Rate of return - - - - - 0.77% 0.77% 0.79%
EPS 2 -4.1 -9.23 -1.74 -0.63 0.48 1.549 2.841 3.542
Distribution rate - - - - - 19.4% 10.7% 8.75%
Net sales 1 1,595 1,988 2,202 2,400 2,515 2,630 2,750 2,867
EBITDA 1 221 317.9 503.1 590.4 653.1 717 745.3 804.5
EBIT 1 162.1 245.9 420.2 504.3 565.9 613.1 657.9 713.6
Net income 1 -376.2 -879.2 -165.2 -58.29 43.39 136.3 250.4 315.6
Net Debt 1 1,131 1,332 1,323 1,286 1,121 709.7 600.8 644.6
Reference price 2 187.35 35.40 33.95 35.01 28.88 39.17 39.17 39.17
Nbr of stocks (in thousands) 93,443 96,024 93,747 89,993 85,625 84,073 - -
Announcement Date 2/22/22 2/15/23 2/20/24 2/20/25 2/19/26 - - -
1USD in Million2USD
Estimates

P/E ratio, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
25.3x1.52x5.58x0.77% 3.29B
27.32x8.16x15.44x1.26% 438B
24.5x4.61x14.06x1.58% 227B
50.08x6.78x18.97x-.--% 119B
2.03x113.58x981.99x-.--% 49.17B
58.93x3.72x13.12x0.21% 41.1B
40.08x15.16x24.71x-.--% 34.73B
37.14x2.01x18.76x-.--% 17.36B
31.49x4.35x14.62x - 16.36B
102.86x3.42x14.47x-.--% 14.69B
Average 39.97x 16.33x 112.17x 0.42% 96.1B
Weighted average by Cap. 31.39x 12.34x 65.24x 0.98%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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  4. Valuation RingCentral, Inc.