What is RingCentral, Inc. worth?
With the base-case assumptions below, a discounted cash flow model on RingCentral, Inc.'s reported free cash flow gives $201.68 per share. The share price was $76.16 on September 25, 2026, 62% below that value.
Inputs from the filings
Three sets of assumptions
| Case | Growth yrs 1-5 | Discount rate | Value per share | Value vs price |
|---|---|---|---|---|
| Bear | 10.0% | 10.0% | $118.20 | +55% |
| Base | 15.0% | 9.0% | $201.68 | +165% |
| Bull | 20.0% | 8.0% | $357.12 | +369% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $264.88 | $284.59 | $308.67 | $338.78 | $377.49 |
| 8.0% | $217.40 | $230.18 | $245.28 | $263.41 | $285.56 |
| 9.0% | $182.85 | $191.59 | $201.68 | $213.44 | $227.34 |
| 10.0% | $156.66 | $162.87 | $169.92 | $177.97 | $187.25 |
| 11.0% | $136.17 | $140.72 | $145.81 | $151.54 | $158.03 |
Where the presets come from
Base: years 1 to 5 grow at RingCentral, Inc.'s revenue growth rate over the last 5 fiscal years (16.3% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.
Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.
Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.
This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.
Adjust the assumptions
Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.
Adjust the assumptions