# Rivian Automotive, Inc. (RIVN)

> Source: Nexqual · https://nexqual.com/RIVN · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Rivian Automotive, Inc. (RIVN), nexqual.com/RIVN" · informational, not investment advice.

**Price:** USD 12.06 (-3.21% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 12.46 · day 11.97–12.42 · 52w 11.97–22.69 · market cap $17.5B · NMS

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $5.88B, net income -$3.23B (-55.0% margin), free cash flow -$3.49B (SEC filings).
- Total return with dividends: 1Y -7.9% vs S&P 500 +14.9%; 5Y -90.7% vs S&P 500 +80.3%.
- Next earnings: 2026-10-29, EPS estimate USD -0.72, revenue estimate $1.99B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $55.0M | $1.66B | $4.43B | $4.97B | $5.39B | $5.88B |
| Gross profit | -$465M | -$3.12B | -$2.03B | -$1.20B | $144M | — |
| Operating income | -$4.22B | -$6.86B | -$5.74B | -$4.69B | -$3.58B | -$3.53B |
| Net income | -$4.69B | -$6.75B | -$5.43B | -$4.75B | -$3.65B | -$3.23B |
| EPS (diluted) | -$22.98 | -$7.40 | -$5.74 | -$4.69 | -$3.07 | — |
| Free cash flow | -$4.42B | -$6.42B | -$5.89B | -$2.86B | -$2.49B | -$3.49B |
| Gross margin | -845.5% | -188.4% | -45.8% | -24.1% | 2.7% | — |
| Operating margin | -7672.7% | -413.5% | -129.4% | -94.3% | -66.5% | -60.1% |
| Net margin | -8523.6% | -407.2% | -122.5% | -95.5% | -67.7% | -55.0% |
| Revenue growth | — | +2914.5% | +167.4% | +12.1% | +8.4% | — |
| Cash + short-term investments | $18.1B | $11.6B | $9.37B | $7.70B | $6.08B | — |
| Total debt | $1.23B | $1.23B | $4.43B | $4.44B | $4.44B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/S 3.0x · EV/Sales 2.8x · P/B 3.4x · FCF yield -19.98% · Earnings yield -18.52% · Net cash $866M · EV $16.6B

## Analysts
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-09-14 | Citigroup | Initiated | Neutral | $18 |
| 2026-07-31 | RBC Capital | Target raised | Sector Perform | $14 → $16 |
| 2026-07-31 | Morgan Stanley | Target raised | Underweight | $13 → $14 |
| 2026-07-31 | TD Cowen | Target raised | Buy | $20 → $21 |
| 2026-07-31 | Wells Fargo | Target raised | Equal-Weight | $15 → $16 |
| 2026-07-31 | Needham | Reiterated | Buy | $23 |
| 2026-07-28 | Cantor Fitzgerald | Reiterated | Neutral | $19 |
| 2026-07-27 | Piper Sandler | Upgrade | Neutral → Overweight | $18 → $20 |
| 2026-07-14 | Morgan Stanley | Target raised | Underweight | $12 → $13 |
| 2026-07-09 | UBS | Target raised | Neutral | $16 → $17 |
| 2026-07-08 | BNP Paribas | Target raised | Outperform | $22 → $24 |
| 2026-07-07 | Jefferies | Target raised | Hold | $16 → $17 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-11-08) |
|---|---|---|
| Total return | -7.9% | -90.7% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -7.9% | -38.1% |
| Volatility (annualized) | 69.0% | 73.0% |
| Max drawdown | -46.3% (Dec 2025→Oct 2026) | -93.4% (Nov 2021→Apr 2024) |

## Peers (Auto Manufacturers)
STLA (Stellantis N.V.) USD 4.27 +1.18% · LI (Li Auto Inc.) USD 11.47 -0.26% · XPEV (XPeng Inc.) USD 9.07 -3.10% · NIO (NIO Inc.) USD 3.31 -1.49% · VFS (VinFast Auto Ltd.) USD 2.96 -1.00% · HMC (Honda Motor Company, Ltd.) USD 34.58 +1.80%

## More
Full page: https://nexqual.com/RIVN · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $-0.72 | $-0.75 | -3.5% | $1.99B | 11 |
| Next quarter (ends 2026-12-31) | $-0.65 | $-0.66 | -0.6% | $2.48B | 13 |
| Current fiscal year (ends 2026-12-31) | $-2.43 | $-2.61 | -6.7% | $7.45B | 15 |
| Next fiscal year (ends 2027-12-31) | $-2.21 | $-2.28 | -3.2% | $11.72B | 15 |