LiveRamp Holdings, Inc. (NYSE: RAMP)

Sector: Technology Industry: Software - Infrastructure CIK: 0000733269
Market Cap 1.56 Bn
P/B 1.62
P/E 22.73
P/S 1.97
ROIC (Qtr) 5.53
Div Yield % 0.00
Rev 1y % (Qtr) 8.59
Total Debt (Qtr) 0.00
Debt/Equity (Qtr) 0.00
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About

LiveRamp Holdings, Inc., known by its stock symbol RAMP, is a global technology company operating in the data-driven marketing industry. The company's main business activities revolve around its LiveRamp Data Collaboration Platform, a solution that empowers businesses to securely and privately share first-party consumer data with trusted partners. The LiveRamp Data Collaboration Platform offers four core capabilities: Live/Identity, Live/Access, Live/Connectivity, and Live/Insights. These capabilities allow organizations to access and leverage...

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Investment thesis

Bull case

  • Robust free cash flow of 170.05M exceeds capital expenditure of 1.38M by 123.23x, indicating strong organic growth funding capability.
  • Tangible assets of 755.08M provide exceptional 16.42x coverage of deferred revenue 45.98M, showing strong service capability backing.
  • Operating cash flow of 171.43M provides strong 3.73x coverage of deferred revenue 45.98M, indicating service delivery capability.
  • Operating cash flow of 171.43M fully covers other non-current liabilities 10.92M by 15.69x, showing strong long-term stability.
  • Tangible assets of 755.08M provide robust 5.98x coverage of other current liabilities 126.28M, indicating strong asset backing.

Bear case

  • Operating cash flow of 171.43M barely covers its investment activities of (4.29M), with a coverage ratio of -40.01, indicating heavy reliance on external financing for growth which may not be sustainable in a tighter credit environment.
  • Investment activities of (4.29M) provide weak support for R&D spending of 156.31M, which is -0.03x, suggesting potentially insufficient investment in innovation relative to other capital deployment.
  • Cash reserves of 395.89M provide limited coverage of acquisition spending of (595000), which is -665.36x, suggesting aggressive expansion might strain liquidity if market conditions deteriorate.
  • The company's operating cash flow of 171.43M shows concerning coverage of stock compensation expenses of 88.22M, with a 1.94 ratio indicating potential earnings quality issues.
  • Operating cash flow of 171.43M is outpaced by equity issuance of (149.54M) (-1.15 ratio), indicating concerning reliance on equity markets for funding operations.

Product and Service Breakdown of Revenue (2025)

Geographical Breakdown of Revenue (2025)

Peer comparison

Companies in the Software - Infrastructure
S.No. Ticker Company Market Cap P/E P/S Total Debt (Qtr)
1 MSFT Microsoft Corp 2,948.93 Bn 24.73 9.65 57.61 Bn
2 ORCL Oracle Corp 734.55 Bn 67.24 19.76 124.39 Bn
3 PLTR Palantir Technologies Inc. 313.28 Bn 192.78 70.00 0.23 Bn
4 PANW Palo Alto Networks Inc 109.38 Bn 97.90 11.45 0.35 Bn
5 CRWD CrowdStrike Holdings, Inc. 102.48 Bn -326.20 22.45 0.82 Bn
6 SNPS Synopsys Inc 69.14 Bn 51.90 9.80 14.29 Bn
7 NET Cloudflare, Inc. 66.52 Bn -645.60 33.04 3.50 Bn
8 FTNT Fortinet, Inc. 62.73 Bn 33.48 9.57 1.00 Bn

Industry comparisons

Current Valuation Value Ind Avg Percentile
EV to Assets EV to Assets 0.94 2.10
EV to Cash from Ops. EV/CFO 6.96 3.92
EV to Debt EV to Debt 0.00 -2.43
EV to EBIT EV/EBIT 16.57 11.57
EV to EBITDA EV/EBITDA 16.92 18.19
EV to Free Cash Flow [EV/FCF] EV/FCF 7.02 19.98
EV to Market Cap EV to Market Cap 0.76 1.27
EV to Revenue EV/Rev 1.50 29.29
Price to Book Value [P/B] P/B 1.62 4.97
Price to Earnings [P/E] P/E 22.73 -12.45
Dividend Metrics Value Ind Avg Percentile
Dividend Coverage Ratio Dividend Coverage Ratio 0.00 0.21
Dividend Payout Ratio % Div Payout % (Qtr) 0.00 2.73
Dividend per Basic Share Div per Share (Qtr) 0.00 0.11
FCF Dividend Payout Ratio % FCF Div Payout % (Qtr) 0.00 1.67
Interest Coverage Int. cover (Qtr) 0.00 -16.04
Growth Metrics Value Ind Avg Percentile
Capex Growth (1y) % Capex 1y % (Qtr) 45.67 -403.22
Cash and Equivalents Growth (1y) % Cash & Equiv 1y % (Qtr) 4.91 223.80
Dividend Growth (1y) % Dividend Growth (1y) % 0.00 -0.28
EBIAT Growth (1y) % EBIAT 1y % (Qtr) 85,866.25 585.97
EBITDA Growth (1y) % EBITDA 1y % (Qtr) 255.15 5.89
EBIT Growth (1y) % EBIT 1y % (Qtr) 215.02 27.96
EBT Growth (1y) % EBT 1y % (Qtr) 215.02 20.61
EPS Growth (1y) % EPS 1y % (Qtr) 10,700.00 144.77
FCF Growth (1y) % FCF 1y % (Qtr) 45.98 50.30
Gross Profit Growth (1y) % Gross Profit 1y % (Qtr) 7.09 45.98
Liquidity Ratios Value Ind Avg Percentile
Asset Utilization Ratio Asset Util Ratio (Qtr) 0.63 0.65
Cash Payout Ratio Cash Payout (Qtr) 0.00 0.01
Cash Ratio Cash Ratio (Qtr) 1.58 1.23
Current Ratio Curr Ratio (Qtr) 2.72 2.63
Debt to Equity Ratio Debt/Equity (Qtr) 0.00 0.73
Interest Cover Ratio Int Coverage (Qtr) 0.00 -16.04
Times Interest Earned Times Interest Earned (Qtr) 0.00 -16.04
Profitability Value Ind Avg Percentile
EBITDA Margin % EBITDA Margin % (Qtr) 10.80 -549.97
EBIT Margin % EBIT Margin % (Qtr) 9.06 -240.33
EBT Margin % EBT Margin % (Qtr) 9.06 -608.68
Gross Margin % Gross Margin % (Qtr) 70.40 51.14
Net Profit Margin % Net Margin % (Qtr) 8.60 -611.28