RingCentral, Inc.
$3.84B- Market cap
- $2.72B
- Debt
- +$1.25B
- Cash
- −$132.56M
Capital structure 68% equity / 32% debt · EV / Revenue 1.53x · EV / EBITDA 11.54x
Compare price, profitability, solvency, and SEC-reported financials side by side—before deciding which assumptions deserve a closer look.
FY 2025 ·
Decision snapshot: RNG stock price at premium vs BKNG $73.39 current versus $0.56 implied using P/E multiple.
Quick read
Each company valued on the other's multiple, then compared with the market price.
Implied fair value · at BKNG's multiple
Implied fair value · at RNG's multiple
Snapshot Sep 4, 4:00 PM ET
Metric by metric
Where each company leads, and how wide the gap is.
Growth lag
Pricing power
Operating leverage
Multiple discount
Expensive
Lower leverage
Statements
Core statements aligned to each company's latest fiscal year.
SEC periods: RNG FY 2025 (ended Dec 31, 2025) · BKNG FY 2025 (ended Dec 31, 2025).
Trendline
12 fiscal years of revenue, earnings, and margins before underwriting a re-rating.
Price framework
Market cap plus debt, less cash.
Capital structure 68% equity / 32% debt · EV / Revenue 1.53x · EV / EBITDA 11.54x
Capital structure 88% equity / 12% debt · EV / Revenue 5.52x · EV / EBITDA 51.68x
BKNG carries the larger enterprise value at $148.67B against $3.84B; RNG trades on the lower EV / Revenue multiple (1.53x vs 5.52x); RNG on the lower EV / EBITDA (11.54x vs 51.68x).
Price framework
The same filing-backed model used on each company's valuation page, with company-specific inputs and calculated scenarios.
RingCentral, Inc. · implied price per share
Debt and bridge-cash inputs are required to translate enterprise value into equity value.
Booking Holdings Inc. · implied price per share
Debt and bridge-cash inputs are required to translate enterprise value into equity value.
Balance sheet health
Financial health checks to separate durable balance sheets from potential value traps.
Financial strength on a 0–9 scale.
Bankruptcy-risk signal from balance sheet and earnings power.
Debt / equity
Total debt against shareholders' equity
-2.13x
-3.70x
Net debt / EBITDA
Leverage against operating earnings
3.37x
1.19x
Cash and equivalents
Liquid reserves on the balance sheet
$132.56M
$17.20B
Total debt
Interest-bearing obligations outstanding
Comparable set
Where the pair sits against the wider comparable set.
Keep comparing
Open adjacent comparisons from the same industry to pressure-test the read across multiple pairs.
$1.25B
$20.62B
LLM-powered synthesis
An on-demand narrative read of the same deterministic data.
This explanation uses an earlier data snapshot or evidence version. Review its generation date and the current figures, or refresh after signing in.
If you believe RNG can sustain its high gross margin while expanding operating margin from 4.8% and improving financial health despite an Altman Z-Score of 0.46, then the stock can be attractive on a DCF and historical-band basis because the current price of $40.01 is below the $54.80-$74.13 DCF range; otherwise, the BKNG BKNG P/E comparison is too imperfect to justify a strong re-rating thesis.
On the supplied P/E framework, RNG appears massively undervalued versus BKNG, but the implied price of $0.54 versus the current $40.01 suggests the multiple comparison is not economically meaningful across these two companies. BKNG-implied range of $1.30 to $360.43 and the DCF range of $54.80 to $74.13 indicate the stock is closer to intrinsic-value and historical-band support than to the P/E-derived BKNG estimate.
Supporting Metrics