Rubrik (RBRK) - Graham-Dodd SaaS growth-multiplier valuation

Assumptions as of 2026-08-18

USD

Updated Aug 18, 2026

as of 2026-08-18

Max justified price per share

$37.54

Upside vs market

-62.8%

Decayed 7-yr CAGR

31.0%

Justified multiple of normalized FCF

45.00

Relative growth decay per year

15.0%

Discount rate

10.0%

Entry revenue growth (FY2026 YoY)

48.5%

Mature FCF margin (AFTER charging SBC in full)

12.0%

Net cash incl. marketable securities less debt ($M)

617$M

Market price ($)

$101.02

FY2026 revenue ($M)

1,316$M

Diluted shares (M)

205.8M

	FY2026A
FY2026 revenue	1,316
Decayed 7-yr CAGR	31.0%
Yr-7 revenue multiple	6.61
Terminal multiple	18.00
Justified mult. of normalized FCF	45.00
Normalized FCF	158
Enterprise value	7,107
+ Net cash	617
= Equity value	7,725
Implied EV/revenue	5.40

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