Is it making money?
In the year to December 2025, it lost $3.6 billion: its costs were bigger than its income.
Finding the company…Gathering the key numbers…Turning it into plain words…
Finding the company…Gathering the key numbers…Turning it into plain words…
RIVNMotor vehicles & passenger car bodies
Explained from its latest yearly and quarterly reports to the SEC, filed October 29, 2026.
What the stock market pays for one share of Rivian Automotive, Inc. / DE today. Below is what the business behind it actually sells, earns, owes and keeps, from its own reports.
Live price from TradingView, shown for context. It changes every trading day, unlike the filed figures below. candor never says whether the price is right.
How its main figures link up, worked out with its own numbers.
Point at a box to see how it links. Click a box to keep it in place.
From its latest yearly report. Point at a term to see exactly what it means.
In the year to December 31, 2025, Rivian Automotive, Inc. / DE sold $5.4 billion of goods and services, up 8.4% on the year before. It made a loss of about $68 for every $100 of sales. Its business brought in -$779 million of cash, but it spent $2.5 billion more than that on buildings and equipment. It owed $937 million more in long-term debt than it held in cash, about $0.78 borrowed for every $1 of owners' money.
Rivian Automotive, Inc. / DE sold $5.4 billion of goods and services in the year to December 31, 2025.
Sales were up 8.4% on the year before.
After every cost, it lost about $68 for every $100 of sales.
It spent $2.5 billion more on its business and equipment than the business brought in.
It had borrowed about $0.78 long-term for every $1 of owners' money in the business.
It lost about $65 for every $100 of owners' money in the business.
US dollars, as the company reported them under US accounting rules (US GAAP). candor only combines figures that cover exactly the same period or date, and shows "Not reported" rather than a zero when one is missing.
Part 1 of 4 · Growth and profit
Whether it sells more each year, and how much of each sale it keeps as profit.
The short answer
In the year to December 2025, it lost $3.6 billion: its costs were bigger than its income.
more in sales than the year before
Part 2 of 4 · Financial health
Whether it can pay its bills and how much it owes: its cushion for bad times.
The short answer
ready for every $1 of bills due within a year
borrowed for longer than a year
Part 3 of 4 · Cash
Whether profit turns into real cash, and how much is left after investing.
The short answer
more spent than its business brought in
Part 4 of 4 · How it's run
How its leaders use the money: reinvesting, paying owners or buying other firms.
The short answer
on buildings and equipment, its biggest use
No change of auditor and no corrected accounts since November 10, 2023.
Each of its SEC filings, turned into plain English with pictures.
The figures behind everything above, side by side, with the original reports to check them.
Ratios compare two numbers so companies of different sizes can be compared. Each one only combines figures from the same period or date.
Year ended December 31, 2025
After paying the direct cost of what it sold, it kept about $3 of every $100 of sales.
What it is: Gross profit (sales minus the direct cost of making or buying what was sold) as a share of sales. A 40% gross margin means $40 of every $100 of sales is left to pay for everything else.
Year ended December 31, 2025
Running the business cost more than it earned from sales: it lost about $67 on every $100 before interest and tax.
What it is: Operating income as a share of sales: of each $100 of sales, what's left after paying for what was sold and for running the business, before interest and tax.
Year ended December 31, 2025
After every cost, it lost about $68 for every $100 of sales.
What it is: Net income as a share of sales: what's left after every cost, including interest and tax. A 10% net profit margin means $10 of final profit for every $100 of sales.
Year ended December 31, 2025
Split across all its shares, the year's loss comes to $3.07 per share.
What it is: Net income divided by the average number of shares during the period. "Diluted" EPS also counts shares that could still be created, for example from staff stock awards, so it's usually slightly lower.
Year ended December 31, 2025
For every $100 that belongs to shareholders on paper, it made about $-65 of profit in a year.
What it is: Net income for a year divided by the average shareholders' equity over that year. A 20% ROE means $20 of profit for every $100 of owners' money in the business.
Year ended December 31, 2025
It spent more on running the business and on buildings and equipment than the business brought in, so it had to use savings or borrow.
What it is: Operating cash flow minus capital expenditure: the cash left after the business pays for the buildings and equipment it needs. It's what the company can use to pay dividends, buy back shares, repay debt or save.
On September 30, 2026
It had about $2.18 of cash and other short-term assets for every $1 of bills due within a year, more than enough to cover them.
What it is: Current assets (cash, money customers owe it, stock and anything else it expects to turn into cash within a year) divided by current liabilities (bills it must pay within a year). 1.5 means $1.50 coming in for every $1 due.
On September 30, 2026
It owed about $0.78 in long-term loans and bonds for every $1 that belongs to shareholders. Higher means it relies more on borrowed money.
What it is: Long-term borrowing divided by shareholders' equity (what the accounts say belongs to the owners). 0.5 means $0.50 borrowed for every $1 of owners' money; higher means it relies more on borrowed money.
On September 30, 2026
Everything it owns (buildings, cash, stock, money owed to it) is worth about $1.57 for every $1 it owes in total.
What it is: Everything the company owes: loans, bonds, bills to suppliers, taxes due, and other obligations.
Each figure next to the same figure a year earlier. Quarters are compared with the same quarter a year before, because many businesses are busier in some seasons.
$5.4 billion vs $5 billion a year earlier
Year ended December 31, 2025, vs the year before
It sold more than the year before.
What it is: All the money a company takes in from selling its products and services, before paying any costs. Also called sales.
$2.2 billion vs $1.6 billion a year earlier
Quarter ended September 30, 2026, vs the same quarter a year earlier
Its latest three months brought in more sales than the same three months a year earlier.
What it is: A three-month period. US public companies report their results every quarter.
-$3.6 billion vs -$4.7 billion a year earlier
Year ended December 31, 2025, vs the year before
A percentage change isn't meaningful here, because one of the two figures was a loss or zero.
What it is: The profit left over a period (such as a year or a quarter) after paying every cost, including wages, interest and taxes. Often called the bottom line.
-$913 million vs -$1.2 billion a year earlier
Quarter ended September 30, 2026, vs the same quarter a year earlier
A percentage change isn't meaningful here, because one of the two figures was a loss or zero.
What it is: The profit left over a period (such as a year or a quarter) after paying every cost, including wages, interest and taxes. Often called the bottom line.
-$779 million vs -$1.7 billion a year earlier
Year ended December 31, 2025, vs the year before
A percentage change isn't meaningful here, because one of the two figures was a loss or zero.
What it is: The cash that came in from customers minus the cash paid out to suppliers, staff, landlords, lenders (interest) and the tax office during the period. It differs from profit because of timing, such as customers paying later, and because some costs in profit, like wear and tear on equipment, aren't paid in cash.
$3.5 billion vs $4.4 billion a year earlier
On September 30, 2026, vs a year earlier
It had less cash on hand than a year earlier. That can mean it spent or returned cash, not necessarily trouble.
What it is: Money in the bank plus very safe investments that can be turned into cash almost immediately.
$4.4 billion vs $4.4 billion a year earlier
On September 30, 2026, vs a year earlier
Its long-term loans and bonds were about the same as a year earlier.
What it is: Money the company has borrowed and must pay back over more than a year, such as bonds and bank loans.
$5.7 billion vs $5.1 billion a year earlier
On September 30, 2026, vs a year earlier
What would be left for shareholders, if it sold everything and paid every debt, grew over the year.
What it is: Total assets minus total liabilities, as valued in the company's accounts (also called book value): what the accounts say belongs to the shareholders. It isn't the same as what the stock market says the company is worth.
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