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Designs memory-interface chips and licenses memory/security IP that let processors talk to DRAM faster.
Designs memory-interface chips and licenses memory/security IP that let processors talk to DRAM faster.
Sells memory-interface chips that sit on server memory modules, bought in volume by module makers as each new generation of server memory arrives, and licenses interface and security designs for royalties. Product sales now outweigh licensing, which used to be its main business and grew out of patent licensing to memory makers.
In one line: A memory-interface IP peer of Synopsys.
Moat: narrow (IP / patents, customer qualification). Long-standing patent portfolio and design-in position in DDR5/HBM memory interfaces.
Headquarters: San Jose, California, US · Founded: 1990 · Employees: 791
Size RMBS (RMBS) is a United States Information Technology company (Semiconductors) with a market value of $7.98B, the 885th largest of 3,117 United States companies the cockpit tracks. Shares closed at $74.53 on 6 Nov 2026.
Performance Over six months the shares fell 42.3%, against -17.5% for the median peer and -1.1% for the United States market (cap-weighted) — 4th lowest of 20 in its peer set.
Growth Revenue grew 17.3% over the last twelve months (peer median +23.5%); the operating margin is 36.7% (peer median 8.5%).
Valuation It trades at 19.9× forward earnings against a peer median of 17.7× (9th most expensive of 18).
Price implies For today's price to make sense, revenue must grow about 24% a year for seven years (Req g). Recent delivered growth is +23%, so the hurdle is +1 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 20.5 points above its cost of capital (14.5% WACC).
Backlog Backlog (remaining performance obligations) was $42.9M at 30 Sep 2026, up 80% on a year earlier — 0.1 years of trailing revenue. Backlog detail →
Short interest Short interest is 4.0% of the free float (15 Oct 2026).
Next results Next results expected around 8 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $796M | $708M | $557M | $461M | $455M |
| Revenue growth | — | +27% | +21% | +1% | — |
| Gross profit | $591M | $528M | $420M | $319M | $314M |
| EBITDA | $337M | $302M | $217M | $144M | $127M |
| Net income | $266M | $230M | $180M | $334M | -$14.3M |
| Free cash flow | $313M | $333M | $200M | $173M | $213M |
| Capital expenditure | $33.8M | $26.8M | $30.7M | $23.2M | $20.5M |
| Total debt | $20.2M | $25.0M | $30.2M | $30.7M | $44.5M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| RMBS RMBS | $7.98B | -42% | +17% | 37% | 19.9× | 24.5% |
| Montage Technology 688008.SS | $25.5B | -13% | +33% | 42% | 43.7× | 39.7% |
| Synopsys SNPS | $86.3B | -13% | +46% | 12% | 25.6× | 39.2% |
| Marvell Technology MRVL | $124B | -17% | +31% | 17% | 25.0× | 54.4% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | RMBS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -31.3% | -19.3% | 7th lowest of 21 |
| 6-month return | -42.3% | -17.5% | 4th lowest of 20 |
| Distance from 52-week high | -57.2% | -47.8% | 7th lowest of 21 |
| Revenue growth (TTM) | +17.3% | +23.5% | 9th lowest of 21 |
| Operating margin | 36.7% | 8.5% | highest of 21 |
| Forward P/E | 19.9× | 17.7× | 9th most expensive of 18 |
| Growth the price implies (Req g, 7 yrs) | 24.5% | 11.3% | 3rd most demanding of 8 |
| Growth delivered (Del g) | +23.5% | +15.9% | 3rd highest of 8 |
| Hurdle (Req g minus delivered) | +1.0 pp | -0.2 pp | 4th most demanding of 8 |
| ROIC minus cost of capital | +20.5 pp | -3.6 pp | 4th highest of 21 |
| EV / EBITDA | 21.4× | 12.6× | 3rd most expensive of 9 |
| Net debt / EBITDA | -2.2× | -0.7× | 4th least indebted of 11 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| RMBS RMBS | United States | $7.98B | -42% | +17% | 37% | 19.9× | 24.5% | +23.5% |
| Konfoong Materials International 300666.SZ | China | $8.09B | +9% | +35% | 10% | 53.5× | n/a | n/a |
| Shenzhen Techwinsemi Technology 001309.SZ | China | $8.12B | -64% | +317% | 35% | 6.7× | n/a | n/a |
| Amkor Technology AMKR | United States | $8.13B | -57% | +16% | 10% | 12.1× | n/a | n/a |
| Ingenic Semiconductor 3223.HK | Hong Kong | $7.76B | n/a | +100% | 35% | 10.9× | -3.9% | +16.1% |
| Tianshui Huatian Technology 002185.SZ | China | $7.74B | +10% | +33% | 4% | 45.0× | n/a | n/a |
| VeriSilicon Microelectronics (Shanghai) 688521.SS | China | $8.31B | -63% | +39% | -23% | n/a | 40.5% | +15.9% |
| SG Micro 300661.SZ | China | $8.33B | -12% | +46% | 17% | 55.7× | 35.9% | +26.7% |
| Powerchip Semiconductor Manufacturing 6770.TW | Taiwan | $7.54B | -5% | +22% | -5% | 7.6× | 11.3% | +0.5% |
| WAAREE Energies WAAREEENER.NS | India | $7.41B | -24% | +75% | 16% | 17.3× | n/a | n/a |
| Silicon Laboratories SLAB | United States | $7.39B | +2% | +22% | -3% | 60.3× | n/a | n/a |
| Alchip Technologies Limitd 3661.TW | Taiwan | $7.35B | -32% | -51% | 23% | 14.4× | n/a | n/a |
| Nexchip Semiconductor 688249.SS | China | $8.80B | -17% | +14% | 7% | 66.4× | n/a | n/a |
| United Nova Technology 688469.SS | China | $8.92B | +4% | +42% | -10% | 102.1× | n/a | n/a |
| Smartsens Technology (Shanghai) 688213.SS | China | $7.01B | +21% | +27% | 13% | 30.9× | 23.1% | +42.7% |
| Minebea Mitsumi 6479.T | Japan | $6.97B | -13% | +12% | 7% | 11.9× | 10.8% | +11.0% |
| Novatek Microelectronics 3034.TW | Taiwan | $9.16B | +18% | +2% | 20% | 14.1× | -4.2% | +4.7% |
| Sanan Optoelectronics 600703.SS | China | $6.87B | -33% | -22% | -7% | n/a | n/a | n/a |
| Xi'an ESWIN Material Technology 688783.SS | China | $9.34B | -36% | +25% | -25% | n/a | n/a | n/a |
| Vanguard International Semiconductor 5347.TWO | Taiwan | $6.82B | -22% | +10% | 17% | 17.7× | n/a | n/a |
| Rohm 6963.T | Japan | $6.76B | -19% | +12% | 4% | 24.3× | n/a | n/a |
RMBS reported $42.9M of remaining performance obligations at 30 Sep 2026, up 80% from a year earlier and up 25% from the previous quarter. That is 0.1 years of trailing revenue already under contract. Book-to-bill last quarter: 1.04.