Is the business good?
How good a business is RIVN?
Rivian Automotive, Inc. earns −66% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
−66%
Return on invested capital · cost of capital 9.0% · 75 points below what the capital costs: growth destroys value
- Operating margin
- −60%
Operating margin · Auto Manufacturers median −0.46% · 12 months to Q2 2026
- Share count, year on year
- +15%
Share count, year on year · shareholders own a smaller slice than a year ago
- R&D as % of revenue
- 31%
R&D as % of revenue
| Year | Operating margin |
|---|---|
| FY2021 | −7673% |
| FY2022 | −414% |
| FY2023 | −129% |
| FY2024 | −94% |
| FY2025 | −67% |
Details›
- Gross margin12 months to Q2 2026
- 7.5%
- Operating margin12 months to Q2 2026
- −60%
- Net margin12 months to Q2 2026
- −55%
- Free cash flow margin
- −59%
- R&D as % of revenue
- 31%
- Revenue, trailing twelve months
- $5.88B
- Free cash flow, trailing twelve months
- −$3.49B
- Net income, trailing twelve months
- −$3.23B
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- −66%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.
Auto Manufacturers
Ranks #8 of 12 by Smart Score