Cerebras Systems Inc.
Cerebras Systems Inc. Class A Common Stock represents a company that develops artificial intelligence infrastructure for demanding training and inference workloads. Cerebras Systems designs and manufactures AI compute platforms that combine proprietary hardware and software, delivered as rack-scale systems for deployment in data centers and supercomputer environments. Its product lineup includes wafer-scale processors, AI supercomputers, inference and training systems, cloud-based AI services, and model development tools. The company also provides deployment support, software updates, and system management services to help customers integrate and operate large-scale AI workloads. Cerebras Systems serves organizations that need specialized high-performance computing for generative AI, model training, and advanced inference applications, making it a significant player in the semiconductor and AI infrastructure market.
$108.94
-$9.04 (-7.66%)
EOD Oct 22, 2026
The business is unprofitable at the operating level (-28.60% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue up 75.7% YoY with margins expanding 6.4pp. However, free cash flow softened 192%, worth monitoring whether this is timing or structural.
At 259x earnings, the current multiple leaves limited room for execution misses or growth deceleration. Free cash flow declined 192% versus the prior year, cash generation momentum has weakened.
259.4x earnings. The market is pricing in years of above-average growth. If that thesis breaks, downside from multiple compression alone could be 30%+. This is a stock where you're paying for the future, not the present.
Price History
Valuation & Multiples
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (FY)
$510M
▲ +75.7% YoY
Net Income (FY)
$238M
▲ +149.4% YoY
Op. Margin
-28.60%
▲ +6.4pp YoY
ROIC
-93.66%
▲ +295.8pp YoY
Cash Flow & Balance Sheet
FCF (FY)
-$393M
▼ -191.7% YoY
Op. Cash Flow (FY)
-$10M
▼ -102.2% YoY
Net Debt
-$846M
Net Cash Position
Cash & Equiv.
$1.11B
3Y CAGR: +174.6%
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Is Cerebras Systems (CBRS) overvalued?
At a P/E of 259.4, Cerebras Systems (CBRS)'s valuation is best read against its own history, its peers, and the growth its price implies. A high multiple is not the same as overvalued: fast-growing, high-quality businesses can deserve a premium. See the general approach in how to tell if a stock is overvalued.
On quality, Cerebras Systems scores 54/100 on Intrinsiqq's quality scorecard (a mixed business on these measures), weighing growth, margins, returns on capital, share count, and balance-sheet strength. All figures are computed from company filings; read the full methodology, or see how the market compares in our US profitability statistics. This is analysis, not investment advice.
Frequently asked
Is Cerebras Systems a high-quality business?+
Cerebras Systems scores 54 out of 100 on Intrinsiqq's quality score, a weighted blend of 7 metrics each scored 0 to 100, which makes it a mixed business on these measures. Recent fundamentals include a -28.6% operating margin and a -93.7% return on invested capital. The score weighs revenue and free-cash-flow growth, operating margins, return on invested capital, share-count change, and balance-sheet strength, all computed from company filings, not opinion. Because valuation only means something relative to quality, the full metric-by-metric breakdown is on the quality scorecard.
Is Cerebras Systems a good stock to buy right now?+
That depends on valuation and quality together, not either alone. you should weigh CBRS's valuation and scores 54/100 on quality (mixed). A cheap price is only a bargain if the business is durable, and a premium can be justified by genuine quality, so the two questions, "is it cheap?" and "is it good?", only make sense side by side. Read the valuation against the quality scorecard, run the DCF on your own assumptions, and decide for yourself. This is analysis from company filings, not investment advice.
Related stocks: Semiconductors
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Data sourced from company filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
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