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Cerebras Systems Inc.

CBRS

$81.72 ▼ -10.23 (-11.13%) at close

6 Visible periods

28 Metrics

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Analytical Summary

Review the statement evidence below to form a view on CBRS.

Market Cap $12.3B

Dividend Yield —

Revenue Growth 74.3% ↘

Op. Margin -265.0% ↘

ROIC -5.1% ↗

FCF / Share $-3.16 ↘

Trailing P/E —

Price / Book 1.4x

FCF Yield —

Debt / Equity 0.02

info Valuation on last close. End-of-day price, Nov 5, 2026.

6-Year Financial Trajectory

Quarterly

Metric Value Trend Year over Year Percentile

Revenue Total top-line sales

$180.11M

↑ +74.3% —

Net Income Profit after all expenses

$-14.01M

↑ +41.3% —

Operating Margin Operating profit as % of sales

-265.0%

↓ -3308.0% —

FCF / Share Free cash flow per share

$-3.16

↓ -6.9% —

Long-Term Debt Long-term obligations

$182.21M

↓ -49.6% —

Financial view

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📈 Is growth accelerating? 4 metrics

Metric	Q2 FY2026 Jun 30, 2026 10-Q ↗	Q1 FY2026 Mar 31, 2026 10-Q ↗	Q4 FY2025 Dec 31, 2025 10-Q ↗	Q2 FY2025 Jun 30, 2025 10-Q ↗	Q1 FY2025 Mar 31, 2025 10-Q ↗	Q4 FY2024 Dec 31, 2024 10-Q ↗
Revenue Growth YoY (%)	74.3% Excellent Excellent Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+519%)	94.4% Excellent Excellent Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+686%)	—	—	—	—
EPS Growth YoY (%)	N/M	52.2% Excellent Excellent Year-over-year change in earnings per share Optimal: > 10%	—	—	—	—
Net Income Growth YoY (%)	41.3% Excellent Excellent Year-over-year change in net income	41.3% Excellent Excellent Year-over-year change in net income	—	—	—	—
FCF Growth YoY (%)	-6.9% Weak Weak Year-over-year change in free cash flow	35.3% Excellent Excellent Year-over-year change in free cash flow	—	—	—	—

💰 Are margins durable? 5 metrics

Metric	Q2 FY2026 Jun 30, 2026 10-Q ↗	Q1 FY2026 Mar 31, 2026 10-Q ↗	Q4 FY2025 Dec 31, 2025 10-Q ↗	Q2 FY2025 Jun 30, 2025 10-Q ↗	Q1 FY2025 Mar 31, 2025 10-Q ↗	Q4 FY2024 Dec 31, 2024 10-Q ↗
Operating Margin (%) (%)	-265.0% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-1425%)	-7.8% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-139%)	—	-55.3% Weak Weak Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-377%)	-28.6% Weak Weak Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-243%)	—
Effective Tax Rate (%) (%)	-0.1% Excellent ↑ Excellent Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	-12.0% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	—	0.5% Excellent Excellent Actual taxes paid relative to pre-tax income Optimal: 15-25%	-7.6% Excellent Excellent Actual taxes paid relative to pre-tax income Optimal: 15-25%	—
Profit Margin (%) (%)	-7.8% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-152%)	-7.2% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-148%)	—	-23.1% Weak Weak Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-254%)	-24.0% Weak Weak Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-260%)	—
FCF Margin (%) (%)	-264.7% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	-61.9% Weak ↑ Weak Improving Free cash flow as a percentage of revenue Optimal: > 10%	—	-150.7% Weak Weak Free cash flow as a percentage of revenue Optimal: > 10%	-153.9% Weak Weak Free cash flow as a percentage of revenue Optimal: > 10%	—
FCF / Net Income (x)	34.04x Excellent ↑ Excellent Improving Free cash flow relative to reported net income Optimal: > 1x	8.54x Excellent ↑ Excellent Improving Free cash flow relative to reported net income Optimal: > 1x	—	6.53x Excellent Excellent Free cash flow relative to reported net income Optimal: > 1x	6.42x Excellent Excellent Free cash flow relative to reported net income Optimal: > 1x	—

🎯 Is capital allocation efficient? 3 metrics

Metric	Q2 FY2026 Jun 30, 2026 10-Q ↗	Q1 FY2026 Mar 31, 2026 10-Q ↗	Q4 FY2025 Dec 31, 2025 10-Q ↗	Q2 FY2025 Jun 30, 2025 10-Q ↗	Q1 FY2025 Mar 31, 2025 10-Q ↗	Q4 FY2024 Dec 31, 2024 10-Q ↗
Return on Invested Capital (%)	-5.1% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-10.1% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	—	8.7% Fair Fair Return earned on debt + equity capital invested Optimal: > 10%	3.1% Weak Weak Return earned on debt + equity capital invested Optimal: > 10%	—
Return on Capital (%) (%)	-4.1% Weak Weak Operating profit relative to total assets Optimal: > 10%	-0.3% Weak Weak Operating profit relative to total assets Optimal: > 10%	—	—	—	—
Return on Common Equity (%) (%)	-0.2% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-101%)	7.2% Caution ↑ Caution Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-61%)	—	3.7% Weak Weak Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-80%)	2.4% Weak Weak Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-87%)	—

⚖️ Is the balance sheet risky? 3 metrics

Metric	Q2 FY2026 Jun 30, 2026 10-Q ↗	Q1 FY2026 Mar 31, 2026 10-Q ↗	Q4 FY2025 Dec 31, 2025 10-Q ↗	Q2 FY2025 Jun 30, 2025 10-Q ↗	Q1 FY2025 Mar 31, 2025 10-Q ↗	Q4 FY2024 Dec 31, 2024 10-Q ↗
Debt to Equity (x)	0.02x Excellent ↑ Excellent Improving Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-96%)	-1.86x Excellent Excellent Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-513%)	0.00x Excellent Excellent Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-100%)	—	—	—
Net Debt (USD)	$-6.56B	$-1.35B	$-701.71M	—	—	—
Debt / EBITDA (x)	-0.40x Excellent Excellent Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	115.24x Weak Weak Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	—	—	—	—

📊 What does each share earn? 6 metrics

Metric	Q2 FY2026 Jun 30, 2026 10-Q ↗	Q1 FY2026 Mar 31, 2026 10-Q ↗	Q4 FY2025 Dec 31, 2025 10-Q ↗	Q2 FY2025 Jun 30, 2025 10-Q ↗	Q1 FY2025 Mar 31, 2025 10-Q ↗	Q4 FY2024 Dec 31, 2024 10-Q ↗
Revenue per Share (USD)	$1.19	$3.08	—	$1.96	$1.91	—
Basic EPS, GAAP (USD)	$-2.98	$-0.22	—	$2.28	$-0.46	—
Free Cash Flow per Share (USD)	$-3.16	$-1.90	—	$-2.95	$-2.95	—
Book Value per Share (USD)	$60.64	$-3.10	—	$-12.35	$-18.81	—
Tangible Book Value per Share (USD)	$60.64	$-3.10	—	$-12.35	$-18.81	—
Basic Weighted Avg Shares (shares)	150.97M	62.81M	—	52.72M	52.00M	—

🏦 How resilient is the balance sheet? 3 metrics

Metric	Q2 FY2026 Jun 30, 2026 10-Q ↗	Q1 FY2026 Mar 31, 2026 10-Q ↗	Q4 FY2025 Dec 31, 2025 10-Q ↗	Q2 FY2025 Jun 30, 2025 10-Q ↗	Q1 FY2025 Mar 31, 2025 10-Q ↗	Q4 FY2024 Dec 31, 2024 10-Q ↗
Working Capital (USD)	$7.56B	$2.15B	$824.11M	—	—	—
LT Debt (USD)	$182.21M	$361.62M	$0.00	—	—	—
Total Equity (USD)	$9.15B	$-194.68M	$-578.65M	$-651.12M	$-978.21M	$-966.79M

📋 What is driving earnings? 4 metrics

Metric	Q2 FY2026 Jun 30, 2026 10-Q ↗	Q1 FY2026 Mar 31, 2026 10-Q ↗	Q4 FY2025 Dec 31, 2025 10-Q ↗	Q2 FY2025 Jun 30, 2025 10-Q ↗	Q1 FY2025 Mar 31, 2025 10-Q ↗	Q4 FY2024 Dec 31, 2024 10-Q ↗
Sales/Revenue/Turnover (USD)	$180.11M	$193.41M	—	$103.32M	$99.51M	—
Depreciation Expense (USD)	$24.38M	$18.18M	—	$5.40M	$3.91M	—
Net Income, GAAP (USD)	$-14.01M	$-14.01M	—	$-23.87M	$-23.87M	—
Operating Cash Flow (USD)	$-59.82M	$12.34M	—	$-68.91M	$-54.94M	—

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Cerebras Systems Inc.

Analytical Summary

6-Year Financial Trajectory

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