Forensic Analysis · Automotive / Vehicle Manufacturing · as of Aug 11, 2026
Rivian Automotive, Inc. / De (RIVN)
A forensic read on Rivian Automotive, Inc. / De built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
D · Weak — demands caution
Forensic grade
Distress
Financial health
-3.0
Distress distance
Clean
Earnings quality
4
Forensic signals
-6.2
P / E (ttm)
-79.4%
ROE
$23.2B
Market cap
0.00%
Dividend yield
8.4%
Revenue growth
This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.
Rivian Automotive, Inc. / De earns a D (Weak — demands caution) forensic quality grade, and its balance-sheet distress test reads -3.0, placing it in the Distress zone. 4 forensic signals were flagged in its latest SEC filings, led by return on invested capital.
What the filings flag
-37.3%
FY2025
Return on invested capital.Return on invested capital is -37.3% in the latest fiscal year and rising from -139% — well below its ~9% cost of capital, so reinvested dollars may be destroying value, not building it.
+9.1%/yr
FY2022–FY2025
Share-count dilution.Diluted share count changed +30% over the last 3 years to FY2025 (+9.1%/yr). The count is growing: more stock was issued than repurchased over this window, so aggregate results grew faster than their per-share equivalents. That's ~9.1% shaved off per-share growth every year — total profit has to grow that much just to keep earnings-per-share flat, and a stake held since FY2022 has been diluted ~23%.
14% of rev
FY2025
Stock-based comp load.Stock-based compensation ran 14% of revenue in FY2025 — about $0.62 per diluted share. The cost of it is not in the cash flow — no cash left the business — it is in the count: holders gave up about 9.3% of the company a year, and that rate is not falling. That is the figure to weigh, not the share of free cash flow.
34d DSO
FY2024→FY2025
Receivables vs revenue.Days sales outstanding moved from 22 to 34 days FY2024→FY2025 (receivables +25% vs revenue +8%). Across FY2022–FY2025 the day count ran 14 → 11 → 22 → 34 days — the latest step continues a climb that was already under way, which is the persistence that separates a collection problem from a busy quarter. Receivables grew, but deferred revenue grew +131% over the same period too — rising alongside rising unearned revenue reads as upfront billing on multi-period contracts, not slipping collections.
Key fundamentals
Latest Revenue$5.39B
Revenue Growth YoY+8.4%
Revenue CAGR (3yr)+48.1%
Net Margin-67.7%
Free Cash Flow-$2.49B
Return on Equity-79.4%
Debt / Equity0.97x
The forensic grade and screens above are free — no account needed. Want the AI investment read on top — the 0–100 rating, thesis, bull-vs-bear, red flags and the 12-month scenario, written from Rivian Automotive, Inc. / De's actual 10-K/10-Q/8-K filings?