RingCentral, Inc.
RNG · Services-Computer Processing & Data Preparation · 100.2M shares · +3%/yr ↑ dilution · EDGAR filings ↗
Net buyback after stock comp: -$116M (gross $311M, SBC $427M)
Reference price $38.15 · est. market cap ~$3.8B — last insider sale, 2026-06-16 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
C62UCaaS provider with strong FCF but slow growth, weak liquidity, and buyback-driven negative equity.
Strengths
- Strong free cash flow — FCF $587.3M (84th), FCF margin 23.4%
- Profitable on a cash basis — operating margin 4.8%
Risks
- Negative equity, weak liquidity — ROE -7.4%, D/E -1.07, current ratio 0.63 (20th)
- Slow growth — revenue +4.8% (35th)
- Competitive UCaaS market and earnings volatility — per 10-K
Notable findings
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC, Bridgewater Associates, LP
- Negative equityNegative book equity (debt/equity -1.07)
- Weak liquidityCurrent ratio 0.63 (<1)
- Customer concentration~90% of revenue from one customer/distributor — For the years ended December 31, 2025 and 2024, subscriptions revenues accounted for over 90% of our total revenues
- Strong balance sheetStrong balance sheet — $133M cash & investments
- Insider sellingInsider selling — 49 open-market sale(s) by 6 insider(s) (cluster of 6 insiders, ~$14M, last 6mo) Form 4 ↗
- Notable holderHeld by 5 notable fund(s): STATE STREET CORP, GOLDMAN SACHS GROUP INC, RENAISSANCE TECHNOLOGIES LLC +2 more (as of 2026-03-31)
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
71.2%
Operating margin
4.8%
Net margin
1.7%
Return on equity
-7.4%
Return on assets
2.9%
ROIC
229.7%
Revenue growth (QoQ)
0.0%
Debt / equity
-1.1×
Net debt / EBITDA
1.4×
Current ratio
0.6×
Free cash flow
$587M
EBITDA
$343M
Tangible book value
-$821M
Cash & investments
$133M
Stock comp / revenue
10.7%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-16 | Shmunis Vladimir | Sell | 10K | $38.15 |
| 2026-06-16 | Shmunis Vladimir | Sell | 1.6K | $38.68 |
| 2026-06-15 | Shmunis Vladimir | Sell | 724 | $39.30 |
| 2026-06-15 | Shmunis Vladimir | Sell | 15K | $38.48 |
| 2026-06-10 | Arora Tarun | Sell | 4.2K | $38.85 |
| 2026-06-02 | Agarwal Vaibhav | Sell | 7.0K | $46.17 |
| 2026-06-01 | Marlow John H | Tax withheld | 6.9K | $49.10 |
| 2026-06-01 | Arora Tarun | Tax withheld | 4.3K | $49.10 |
| 2026-06-01 | Agarwal Vaibhav | Tax withheld | 7.3K | $49.10 |
| 2026-06-01 | Makagon Kira | Tax withheld | 13K | $49.10 |
| 2026-06-01 | Shmunis Vladimir | Grant | 4.5K | — |
| 2026-06-01 | Shmunis Vladimir | Tax withheld | 28K | $49.10 |
| 2026-05-29 | Marlow John H | Grant | 45K | — |
| 2026-05-29 | Arora Tarun | Sell | 1.1K | $42.27 |
| 2026-05-29 | Makagon Kira | Grant | 103K | — |
| 2026-05-29 | Shmunis Vladimir | Grant | 154K | — |
| 2026-05-29 | Arora Tarun | Grant | 26K | — |
| 2026-05-29 | Agarwal Vaibhav | Grant | 51K | — |
| 2026-05-29 | Arora Tarun | Sell | 2.5K | $43.32 |
| 2026-05-27 | Makagon Kira | Sell | 11K | $42.32 |
| 2026-05-27 | Makagon Kira | Sell | 5.6K | $42.99 |
| 2026-05-26 | Arora Tarun | Sell | 919 | $42.66 |
| 2026-05-21 | Agarwal Vaibhav | Sell | 4.0K | $42.06 |
| 2026-05-20 | Marlow John H | Grant | 4.1K | — |
| 2026-05-20 | Arora Tarun | Tax withheld | 3.7K | $43.51 |
| 2026-05-20 | Agarwal Vaibhav | Tax withheld | 4.2K | $43.51 |
| 2026-05-20 | Marlow John H | Tax withheld | 9.1K | $43.51 |
| 2026-05-20 | Makagon Kira | Tax withheld | 9.2K | $43.51 |
| 2026-05-18 | Agarwal Vaibhav | Sell | 2.2K | $40.62 |
| 2026-05-15 | Arora Tarun | Grant | 1.8K | — |
| 2026-05-15 | Agarwal Vaibhav | Grant | 4.5K | — |
| 2026-05-15 | Agarwal Vaibhav | Tax withheld | 2.3K | $41.05 |
| 2026-05-15 | Makagon Kira | Grant | 4.5K | — |
| 2026-05-15 | Makagon Kira | Tax withheld | 2.3K | $41.05 |
| 2026-05-15 | Arora Tarun | Tax withheld | 889 | $41.05 |
| 2026-04-27 | Makagon Kira | Sell | 4.5K | $40.14 |
| 2026-04-27 | Makagon Kira | Sell | 1.4K | $40.67 |
| 2026-04-21 | Arora Tarun | Sell | 953 | $43.00 |
| 2026-04-02 | THEIS ROBERT I | Sell | 2.4K | $37.85 |
| 2026-04-02 | Shenkan Amy Guggenheim | Sell | 1.3K | $37.92 |
| 2026-04-02 | THEIS ROBERT I | Sell | 100 | $38.80 |
| 2026-03-27 | Makagon Kira | Sell | 39K | $35.68 |
| 2026-03-27 | Makagon Kira | Sell | 5.8K | $36.54 |
| 2026-03-26 | Makagon Kira | Sell | 3.8K | $35.65 |
| 2026-03-26 | Makagon Kira | Sell | 2.1K | $36.28 |
| 2026-03-10 | Arora Tarun | Sell | 8.8K | $40.69 |
| 2026-03-03 | Arora Tarun | Sell | 2.6K | $36.44 |
| 2026-03-03 | Arora Tarun | Sell | 1.1K | $35.44 |
| 2026-03-02 | Agarwal Vaibhav | Sell | 19K | $36.33 |
| 2026-03-02 | Shenkan Amy Guggenheim | Sell | 3.4K | $36.10 |
| 2026-03-02 | Shenkan Amy Guggenheim | Sell | 100 | $36.84 |
| 2026-03-01 | Makagon Kira | Tax withheld | 46K | $36.45 |
| 2026-03-01 | Arora Tarun | Tax withheld | 8.1K | $36.45 |
| 2026-03-01 | Agarwal Vaibhav | Tax withheld | 18K | $36.45 |
| 2026-03-01 | Marlow John H | Tax withheld | 22K | $36.45 |
| 2026-02-27 | Makagon Kira | Sell | 22K | $35.15 |
| 2026-02-27 | Makagon Kira | Sell | 183 | $36.00 |
| 2026-02-26 | Arora Tarun | Sell | 773 | $34.80 |
| 2026-02-24 | Shmunis Vladimir | Sell | 21K | $36.24 |
| 2026-02-24 | Shmunis Vladimir | Sell | 75K | $35.41 |
| 2026-02-23 | Shmunis Vladimir | Sell | 3.8K | $36.34 |
| 2026-02-23 | Shmunis Vladimir | Sell | 6.2K | $37.45 |
| 2026-02-23 | Shmunis Vladimir | Sell | 357 | $38.36 |
| 2026-02-23 | Shmunis Vladimir | Sell | 34 | $39.34 |
| 2026-02-23 | Agarwal Vaibhav | Sell | 4.4K | $35.65 |
| 2026-02-23 | Shmunis Vladimir | Sell | 26K | $34.41 |
| 2026-02-23 | Shmunis Vladimir | Sell | 9.3K | $35.52 |
| 2026-02-23 | Agarwal Vaibhav | Sell | 100 | $39.24 |
| 2026-02-23 | Agarwal Vaibhav | Sell | 4.1K | $34.44 |
| 2026-02-23 | Agarwal Vaibhav | Sell | 1.1K | $36.48 |
| 2026-02-23 | Agarwal Vaibhav | Sell | 1.1K | $37.49 |
| 2026-02-21 | Marlow John H | Tax withheld | 8.7K | $39.50 |
| 2026-02-21 | Shmunis Vladimir | Tax withheld | 99K | $39.50 |
| 2026-02-20 | Arora Tarun | Tax withheld | 3.6K | $39.50 |
| 2026-02-20 | Agarwal Vaibhav | Tax withheld | 7.4K | $39.50 |
| 2026-02-20 | Marlow John H | Grant | 3.7K | — |
| 2026-02-20 | Marlow John H | Tax withheld | 6.5K | $39.50 |
| 2026-02-20 | Makagon Kira | Sell | 47K | $35.49 |
| 2026-02-20 | Makagon Kira | Tax withheld | 7.8K | $39.50 |
| 2026-02-20 | Shmunis Vladimir | Grant | 4.1K | — |
| 2026-02-20 | Shmunis Vladimir | Tax withheld | 40K | $39.50 |
| 2026-02-18 | Agarwal Vaibhav | Sell | 2.2K | $29.58 |
| 2026-02-17 | Arora Tarun | Tax withheld | 880 | $29.00 |
| 2026-02-17 | Arora Tarun | Grant | 1.7K | — |
| 2026-02-17 | Agarwal Vaibhav | Grant | 4.1K | — |
| 2026-02-17 | Agarwal Vaibhav | Tax withheld | 1.9K | $29.00 |
| 2026-02-17 | Makagon Kira | Grant | 4.1K | — |
| 2026-02-17 | Makagon Kira | Tax withheld | 1.7K | $29.00 |
| 2026-02-10 | Makagon Kira | Grant | 78K | — |
| 2026-02-10 | Shmunis Vladimir | Grant | 140K | — |
| 2026-02-10 | Agarwal Vaibhav | Grant | 29K | — |
| 2026-02-10 | Arora Tarun | Grant | 12K | — |
| 2026-02-10 | Marlow John H | Grant | 35K | — |
| 2026-01-02 | THEIS ROBERT I | Sell | 2.8K | $27.75 |
| 2026-01-02 | GOLDMAN KENNETH A | Grant | 10K | — |
| 2026-01-02 | THEIS ROBERT I | Grant | 10K | — |
| 2026-01-02 | ElAssir Mahmoud | Grant | 10K | — |
| 2026-01-02 | Shenkan Amy Guggenheim | Sell | 1.4K | $28.99 |
| 2026-01-02 | Shenkan Amy Guggenheim | Grant | 10K | — |
| 2026-01-02 | BHATT PRAT | Grant | 10K | — |
| 2025-12-26 | Makagon Kira | Sell | 6.5K | $29.22 |
| 2025-12-10 | Arora Tarun | Sell | 2.6K | $30.60 |
| 2025-12-01 | Marlow John H | Tax withheld | 4.0K | $28.83 |
| 2025-12-01 | Makagon Kira | Tax withheld | 6.7K | $28.83 |
| 2025-12-01 | Arora Tarun | Tax withheld | 2.7K | $28.83 |
| 2025-12-01 | Arora Tarun | Sell | 3.9K | $28.70 |
| 2025-11-26 | Makagon Kira | Sell | 15K | $28.11 |
| 2025-11-26 | Arora Tarun | Sell | 942 | $28.06 |
| 2025-11-24 | Shmunis Vladimir | Sell | 27K | $27.68 |
| 2025-11-21 | Agarwal Vaibhav | Sell | 15K | $25.96 |
| 2025-11-21 | Marlow John H | Tax withheld | 9.9K | $27.29 |
| 2025-11-21 | Shmunis Vladimir | Sell | 14K | $26.13 |
| 2025-11-21 | Shmunis Vladimir | Sell | 33K | $27.22 |
| 2025-11-21 | Shmunis Vladimir | Tax withheld | 28K | $27.29 |
| 2025-11-20 | Shmunis Vladimir | Tax withheld | 48K | $26.12 |
| 2025-11-20 | Makagon Kira | Tax withheld | 13K | $26.12 |
| 2025-11-20 | Marlow John H | Grant | 4.3K | — |
| 2025-11-20 | Marlow John H | Tax withheld | 11K | $26.12 |
| 2025-11-20 | Shmunis Vladimir | Grant | 4.8K | — |
| 2025-11-20 | Agarwal Vaibhav | Tax withheld | 15K | $26.12 |
| 2025-11-20 | Arora Tarun | Tax withheld | 4.0K | $26.12 |
| 2025-11-18 | Agarwal Vaibhav | Sell | 2.4K | $26.61 |
| 2025-11-17 | Makagon Kira | Grant | 4.8K | — |
| 2025-11-17 | Arora Tarun | Grant | 1.9K | — |
| 2025-11-17 | Arora Tarun | Tax withheld | 973 | $26.78 |
| 2025-11-17 | Agarwal Vaibhav | Grant | 4.8K | — |
| 2025-11-17 | Agarwal Vaibhav | Tax withheld | 2.4K | $26.78 |
| 2025-11-17 | Makagon Kira | Tax withheld | 2.4K | $26.78 |
| 2025-11-13 | Arora Tarun | Sell | 882 | $27.38 |
| 2025-10-01 | THEIS ROBERT I | Sell | 2.6K | $28.44 |
| 2025-10-01 | THEIS ROBERT I | Sell | 200 | $29.11 |
| 2025-09-12 | Marlow John H | Gift | 2.6K | — |
| 2025-09-11 | Arora Tarun | Sell | 2.6K | $30.90 |
| 2025-09-10 | Makagon Kira | Sell | 6.5K | $31.35 |
| 2025-09-01 | Marlow John H | Tax withheld | 4.0K | $30.51 |
| 2025-09-01 | Makagon Kira | Tax withheld | 6.7K | $30.51 |
| 2025-09-01 | Arora Tarun | Tax withheld | 2.7K | $30.51 |
| 2025-08-29 | Arora Tarun | Sell | 4.0K | $30.72 |
| 2025-08-27 | Makagon Kira | Sell | 15K | $30.73 |
| 2025-08-26 | Arora Tarun | Sell | 1.0K | $31.09 |
| 2025-08-22 | Shmunis Vladimir | Sell | 2.2K | $29.47 |
| 2025-08-22 | Shmunis Vladimir | Sell | 25K | $30.64 |
| 2025-08-21 | Agarwal Vaibhav | Sell | 15K | $28.70 |
| 2025-08-21 | Shmunis Vladimir | Tax withheld | 28K | $29.14 |
| 2025-08-21 | Shmunis Vladimir | Sell | 47K | $28.95 |
| 2025-08-21 | Marlow John H | Tax withheld | 9.9K | $29.14 |
| 2025-08-20 | Marlow John H | Tax withheld | 11K | $29.41 |
| 2025-08-20 | Shmunis Vladimir | Grant | 5.0K | — |
| 2025-08-20 | Shmunis Vladimir | Tax withheld | 48K | $29.41 |
| 2025-08-20 | Agarwal Vaibhav | Tax withheld | 15K | $29.41 |
| 2025-08-20 | Arora Tarun | Tax withheld | 3.9K | $29.41 |
| 2025-08-20 | Makagon Kira | Tax withheld | 13K | $29.41 |
| 2025-08-20 | Marlow John H | Grant | 4.5K | — |
| 2025-08-18 | Agarwal Vaibhav | Sell | 2.4K | $30.70 |
| 2025-08-15 | Makagon Kira | Tax withheld | 2.5K | $30.74 |
| 2025-08-15 | Agarwal Vaibhav | Grant | 5.0K | — |
| 2025-08-15 | Agarwal Vaibhav | Tax withheld | 2.5K | $30.74 |
| 2025-08-15 | Arora Tarun | Grant | 2.0K | — |
| 2025-08-15 | Arora Tarun | Tax withheld | 949 | $30.74 |
| 2025-08-15 | Makagon Kira | Grant | 5.0K | — |
| 2025-08-04 | Agarwal Vaibhav | Grant | 73K | — |
| 2025-06-27 | Arora Tarun | Sell | 7.8K | $28.00 |
| 2025-06-27 | Makagon Kira | Sell | 21K | $27.69 |
| 2025-06-04 | THEIS ROBERT I | Sell | 1.5K | $26.81 |
| 2025-06-01 | GOLDMAN KENNETH A | Grant | 5.6K | — |
| 2025-06-01 | Makagon Kira | Tax withheld | 6.7K | $25.93 |
| 2025-06-01 | THEIS ROBERT I | Grant | 5.6K | — |
| 2025-06-01 | Shenkan Amy Guggenheim | Grant | 5.6K | — |
| 2025-06-01 | BHATT PRAT | Grant | 5.6K | — |
| 2025-06-01 | Clyburn Mignon L | Grant | 5.6K | — |
| 2025-05-22 | Marlow John H | Sell | 19K | $26.43 |
| 2025-05-22 | Shmunis Vladimir | Sell | 55K | $26.44 |
| 2025-05-21 | Shmunis Vladimir | Sell | 749 | $27.06 |
| 2025-05-21 | Marlow John H | Sell | 142 | $27.07 |
| 2025-05-21 | Shmunis Vladimir | Sell | 94K | $26.56 |
| 2025-05-21 | Marlow John H | Sell | 29K | $26.56 |
| 2025-05-21 | Agarwal Vaibhav | Sell | 15K | $26.88 |
| 2025-05-20 | Shmunis Vladimir | Grant | 253K | — |
| 2025-05-20 | Agarwal Vaibhav | Grant | 63K | — |
| 2025-05-20 | Agarwal Vaibhav | Tax withheld | 15K | $27.34 |
| 2025-05-20 | Lamba Abhey | Tax withheld | 1.7K | $27.34 |
| 2025-05-20 | Marlow John H | Grant | 63K | — |
| 2025-05-20 | Shmunis Vladimir | Grant | 4.6K | — |
| 2025-05-20 | Arora Tarun | Grant | 63K | — |
| 2025-05-20 | Arora Tarun | Tax withheld | 6.3K | $27.34 |
| 2025-05-20 | Makagon Kira | Grant | 211K | — |
| 2025-05-20 | Makagon Kira | Tax withheld | 13K | $27.34 |
| 2025-05-16 | Agarwal Vaibhav | Sell | 2.2K | $27.97 |
| 2025-05-15 | Makagon Kira | Tax withheld | 2.3K | $28.01 |
| 2025-05-15 | Agarwal Vaibhav | Grant | 4.6K | — |
| 2025-05-15 | Agarwal Vaibhav | Tax withheld | 2.3K | $28.01 |
| 2025-05-15 | Lamba Abhey | Grant | 4.6K | — |
| 2025-05-15 | Lamba Abhey | Tax withheld | 1.6K | $28.01 |
| 2025-05-15 | Arora Tarun | Grant | 1.7K | — |
| 2025-05-15 | Arora Tarun | Tax withheld | 818 | $28.01 |
| 2025-05-15 | Makagon Kira | Grant | 4.6K | — |
| 2025-05-15 | Marlow John H | Grant | 4.1K | — |
| 2025-04-01 | BHATT PRAT | Grant | 13K | — |
| 2025-03-04 | THEIS ROBERT I | Sell | 1.5K | $27.69 |
| 2025-02-28 | Agarwal Vaibhav | Sell | 25K | $28.63 |
| 2025-02-28 | Shenkan Amy Guggenheim | Grant | 21K | — |
| 2025-02-24 | Marlow John H | Sell | 18K | $28.23 |
| 2025-02-24 | Shmunis Vladimir | Sell | 62K | $28.23 |
| 2025-02-24 | Shmunis Vladimir | Sell | 61K | $28.90 |
| 2025-02-24 | Marlow John H | Sell | 17K | $28.90 |
| 2025-02-21 | Shmunis Vladimir | Sell | 62K | $28.79 |
| 2025-02-21 | Marlow John H | Sell | 22K | $28.79 |
| 2025-02-21 | Marlow John H | Sell | 945 | $29.50 |
| 2025-02-21 | Makagon Kira | Tax withheld | 25K | $28.95 |
| 2025-02-21 | Shmunis Vladimir | Sell | 4.4K | $29.41 |
| 2025-02-20 | Lamba Abhey | Grant | 1.3K | — |
| 2025-02-20 | Marlow John H | Grant | 3.5K | — |
| 2025-02-20 | Marlow John H | Grant | 42K | — |
| 2025-02-20 | Shmunis Vladimir | Grant | 3.9K | — |
| 2025-02-20 | Shmunis Vladimir | Grant | 183K | — |
| 2025-02-20 | Agarwal Vaibhav | Grant | 4.1K | — |
| 2025-02-20 | Agarwal Vaibhav | Grant | 44K | — |
| 2025-02-20 | Agarwal Vaibhav | Tax withheld | 19K | $30.77 |
| 2025-02-20 | Makagon Kira | Grant | 128K | — |
| 2025-02-20 | Lamba Abhey | Tax withheld | 2.3K | $30.77 |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-05-07 | ResultsExhibits | filing ↗ |
| 2026-02-19 | ResultsOtherExhibits | filing ↗ |
| 2026-01-05 | Shareholder vote | filing ↗ |
| 2025-11-03 | ResultsExhibits | filing ↗ |
| 2025-09-12 | Material agreementDebt obligationExhibits | filing ↗ |
| 2025-08-05 | ResultsExhibits | filing ↗ |
| 2025-05-08 | ResultsExhibits | filing ↗ |
| 2025-03-27 | Material agreementDebt obligationExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 10-Q | 2026-05-11 | 2026-03-31 | 0001384905-26-000037 ↗ |
| 8-K | 2026-05-07 | 2026-05-07 | 0001384905-26-000033 ↗ |
| 10-K/A | 2026-04-30 | 2025-12-31 | 0001384905-26-000027 ↗ |
| 10-K | 2026-02-27 | 2025-12-31 | 0001384905-26-000021 ↗ |
| 8-K | 2026-02-19 | 2026-02-19 | 0001384905-26-000008 ↗ |
| 8-K | 2026-01-05 | 2025-12-31 | 0001384905-26-000003 ↗ |
| 10-Q | 2025-11-05 | 2025-09-30 | 0001384905-25-000053 ↗ |
| 8-K | 2025-11-03 | 2025-11-03 | 0001384905-25-000049 ↗ |
| 8-K | 2025-09-12 | 2025-09-11 | 0001384905-25-000045 ↗ |
| 10-Q | 2025-08-07 | 2025-06-30 | 0001384905-25-000040 ↗ |
| 8-K | 2025-08-05 | 2025-08-05 | 0001384905-25-000037 ↗ |
| 10-Q | 2025-05-09 | 2025-03-31 | 0001384905-25-000033 ↗ |