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Rackspace Technology, Inc. (RXT)

NASDAQ / Technology / Software - Infrastructure

Share price

3.15 USD Market dataClose of Oct 14, 2026

Market capitalisation

798.5M USD Market dataClose of Oct 14, 2026
Market data
Oct 14, 2026
Filed accounts
FY2025, filed Mar 6, 2026
Ratios computed
Oct 14, 2026
Filed years
8, FY2018 to FY2025
Four kinds of sourceSEC filingCompany statementMarket dataComputedWhat each means
SEC filingFiled with the SEC
Read from a statement the company filed with the SEC, with the form, fiscal year, filing date and accession beside it.
Company statementCompany statement
What the company says about itself in a filing: an 8-K item, the auditor, its own segment names.
Market dataMarket data
Prices, market value and what analysts publish, with the date they are as of.
ComputedComputed by ValueScreener
Worked out by us from the other three, with the inputs and the formula one press away. A score is a research output, not a rating or a recommendation.
Reading

1 of 10

Overview

What the business is, what it costs, and how it reads on four questions.

Market dataSEC filingComputed

Four questions, at a glance

Quality

Return on invested capital, after tax

n/a Computed

From the FY2025 filing

Why n/a

The filed income tax is outside 0 to 100% of pre-tax income (a tax benefit on a profit, a charge on a loss, or a charge above the profit), which is a one-off in the tax line and not a rate operating profit was taxed at, so after-tax operating profit is not computed.

Read quality

Valuation

Price to earnings

n/m Computed

FY2025 accounts, priced at the latest close

Why n/m

Earnings are zero or negative, so a price to earnings multiple is not meaningful. A negative P/E is not a cheap company and a large positive one from a near-zero denominator is not an expensive one.

Read valuation

Cash generation

Free cash flow yield

12.1% Computed

FY2025 accounts, priced at the latest close

Read cash generation

Revenue and net income, by fiscal year

FY2017 Revenue: 2.14B USDFY2017 Net income: -59.9M USDFY2018 Revenue: 2.45B USDFY2018 Net income: -470.6M USDFY2019 Revenue: 2.44B USDFY2019 Net income: -102.3M USDFY2020 Revenue: 2.71B USDFY2020 Net income: -245.8M USDFY2021 Revenue: 3.01B USDFY2021 Net income: -218.3M USDFY2022 Revenue: 3.12B USDFY2022 Net income: -804.8M USDFY2023 Revenue: 2.96B USDFY2023 Net income: -837.8M USDFY2024 Revenue: 2.74B USDFY2024 Net income: -858.2M USDFY2025 Revenue: 2.69B USDFY2025 Net income: -225.8M USD
Revenue Net income9 fiscal years; a year whose statement names no SEC filing is market data, and the table in Filings says which.
Named tests met
1 of 30 Which tests
The business, and the score behind its five axes

The reading, in brief

Is it safe

Net debt to EBITDA was 61.63x in FY2025, in the band labelled "High, covenant territory" (4.00x and above), on lines set by credit-analyst convention, suggesting debt in the range lenders write covenants around.

Year by year against peers
Whether Rackspace Technology, Inc.'s gross margin stayed above the median of the Software - Infrastructure industry, year by year. (FY2017 to FY2025, 9 fiscal years of Rackspace Technology, Inc. with a comparable figure)
The direction
Which way Rackspace Technology, Inc.'s gross margin has moved, and how steadily. (FY2017 to FY2025, 9 filed years of Rackspace Technology, Inc.)
What could explain it
What in Rackspace Technology, Inc.'s filed statements could explain the movements. (6 readings drawn from the statement lines Rackspace Technology, Inc. filed)
What to check next
What to check next on Rackspace Technology, Inc., and where in its filings. (6 questions for Rackspace Technology, Inc.)
In one paragraph
One paragraph on Rackspace Technology, Inc.'s returns, cash, balance sheet and price. (8 of sixteen figures read for Rackspace Technology, Inc.)

These are RXT’s filed figures. The research desk says what they mean, against peers and its own years, with what to check next.

Research RXTPart of Serious. New accounts start with 30 days of Professional, free, no card.

2 of 10

What changed

The newest filing, what it moved, and when the next one is due.

SEC filingCompany statement

The newest accounts on file are the FY2025 annual report: 10-K, filed Mar 6, 2026, accession 0001810019-26-000015.

3 of 10

Quality

The returns the business earns on its capital, and the margins behind them.

SEC filingComputed

Rackspace Technology, Inc: returns on capital and margins, each with its source
FigureValue, source and document
Return on invested capital, after tax
Why n/a

The filed income tax is outside 0 to 100% of pre-tax income (a tax benefit on a profit, a charge on a loss, or a charge above the profit), which is a one-off in the tax line and not a rate operating profit was taxed at, so after-tax operating profit is not computed.

n/a ComputedFY2025 10-K, filed Mar 6, 2026, 0001810019-26-000015
Return on equity
Why n/m

Book equity is zero or negative. Return on equity computed over it flips sign and can read as a strong positive on a loss-making company, so we will not show a number.

n/m ComputedFY2025 10-K, filed Mar 6, 2026, 0001810019-26-000015
Return on capital employed, pre-tax-5.0% ComputedFY2025 10-K, filed Mar 6, 2026, 0001810019-26-000015
Return on assets-8.1% ComputedFY2025 10-K, filed Mar 6, 2026, 0001810019-26-000015
Gross margin18.9% ComputedFY2025 10-K, filed Mar 6, 2026, 0001810019-26-000015
Operating margin-3.8% ComputedFY2025 10-K, filed Mar 6, 2026, 0001810019-26-000015
Net margin-8.4% ComputedFY2025 10-K, filed Mar 6, 2026, 0001810019-26-000015
RXT -8.4%
RZLV -216.7%BLZE -17.6%OWLS -405.2%RPD 2.7%KPLT 0.5%
-405.2%2.7%
Net margin: RXT against the 5 companies named under Valuation context, each as filed for its own latest year. Placement only: no average is drawn.

4 of 10

Financial strength

What it owes against what it owns, and whether it can meet what falls due.

SEC filingComputedCompany statement

Rackspace Technology, Inc: leverage, liquidity and distress, each with its source
FigureValue, source and document
Debt to equity
Why n/m

Filed shareholders equity is zero or below, so debt measured against it is not a measurement (n/m).

n/m ComputedFY2025 10-K, filed Mar 6, 2026, 0001810019-26-000015
Current ratio0.68 ComputedFY2025 10-K, filed Mar 6, 2026, 0001810019-26-000015
Quick ratio0.68 ComputedFY2025 10-K, filed Mar 6, 2026, 0001810019-26-000015
Interest coverage
Why n/m

Operating income is zero or below, so there is no operating profit to cover the interest bill and coverage is not meaningful (n/m).

n/m ComputedFY2025 10-K, filed Mar 6, 2026, 0001810019-26-000015
Altman Z-score-1.11 ComputedClose of Oct 14, 2026 · FY2025 10-K, filed Mar 6, 2026, 0001810019-26-000015
Net debt3.12B ComputedFY2025 10-K, filed Mar 6, 2026, 0001810019-26-000015
Total assets 2.80BTotal liabilities 4.02BOwnsOwes, and equity
Total assets Total liabilities Shareholders’ equity (zero or below, not drawn)
The balance sheet, line by line

Financial health

What Rackspace Technology, Inc owned and owed at the end of fiscal 2025, from the balance sheet it filed (10-K, filed Mar 6, 2026, 0001810019-26-000015).

Rackspace Technology, Inc: balance sheet position
Total assets2.80B FiledFY2025 10-K, filed Mar 6, 2026
Total liabilities4.02B FiledFY2025 10-K, filed Mar 6, 2026
Shareholders' equity-1.22B FiledFY2025 10-K, filed Mar 6, 2026
Cash105.8M FiledFY2025 10-K, filed Mar 6, 2026
Total debt3.23B FiledFY2025 10-K, filed Mar 6, 2026
Net debt3.12B
Current ratio0.68
Debt to equityn/m
  • Debt to equity: FY2025: Filed shareholders equity is zero or below, so debt measured against it is not a measurement (n/m).
  • Interest cover: FY2025: Operating income is zero or below, so there is no operating profit to cover the interest bill and coverage is not meaningful (n/m).

Read from the filed balance sheet for each year, with the income statement of the same year supplying operating profit where a ratio needs it. Nothing here is a view on whether this company is sound.

5 of 10

Valuation context

What the market charges for it, against its own record and companies like it.

Market dataSEC filingComputed

Rackspace Technology, Inc: what the market charges, each with its source
FigureValue, source and document
Price to earnings
Why n/m

Earnings are zero or negative, so a price to earnings multiple is not meaningful. A negative P/E is not a cheap company and a large positive one from a near-zero denominator is not an expensive one.

n/m ComputedClose of Oct 14, 2026 · FY2025 10-K, filed Mar 6, 2026, 0001810019-26-000015
P/E on trailing twelve months
Why n/a

Fewer than twenty trading days carry a meaningful trailing price to earnings ratio, so no range is stated.

n/a ComputedClose of Oct 14, 2026 · Trailing four quarters, each as known on the day; the quarterly filings are listed under Filings
Price to book
Why n/m

Book equity is zero or negative, so a ratio measured against it (debt to equity, price to book) is not a measurement, and we will not show a number.

n/m ComputedClose of Oct 14, 2026 · FY2025 10-K, filed Mar 6, 2026, 0001810019-26-000015
Price to sales0.28x ComputedClose of Oct 14, 2026 · FY2025 10-K, filed Mar 6, 2026, 0001810019-26-000015
Enterprise value to EBIT
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedClose of Oct 14, 2026 · FY2025 10-K, filed Mar 6, 2026, 0001810019-26-000015
Enterprise value to EBITDA76.44x ComputedClose of Oct 14, 2026 · FY2025 10-K, filed Mar 6, 2026, 0001810019-26-000015
Price to earnings over growth
Why n/m

Earnings are zero or negative, so a price to earnings multiple is not meaningful. A negative P/E is not a cheap company and a large positive one from a near-zero denominator is not an expensive one.

n/m ComputedClose of Oct 14, 2026 · FY2025 10-K, filed Mar 6, 2026, 0001810019-26-000015
Diluted earnings per share-0.95 USD FiledFY2025 10-K, filed Mar 6, 2026, 0001810019-26-000015
Graham number
Why n/m

Earnings are zero or negative, so a price to earnings multiple is not meaningful. A negative P/E is not a cheap company and a large positive one from a near-zero denominator is not an expensive one.

n/m ComputedFY2025 10-K, filed Mar 6, 2026, 0001810019-26-000015

We publish no fair value or price target of our own. Value RXT on your own assumptions in the DCF workbench, starting from the filed figures.

Its own record, and companies like it

Valuation

What the market charges for Rackspace Technology, Inc today, and the multiples it has carried. No value of ours: the figures are the filings’ and the market’s.

Rackspace Technology, Inc: valuation
Share price3.15 USD
Market capitalisation798.5M USD
Enterprise value to EBITDA76.44x
Graham numbern/m
Diluted earnings per share, FY2025-0.95 USD

Price to earnings on trailing twelve months: Fewer than twenty trading days carry a meaningful trailing price to earnings ratio, so no range is stated.

Companies like Rackspace Technology, Inc

  1. REZOLVE AI PLC (RZLV)Market cap 682.0M USD
  2. Backblaze, Inc. (BLZE)Market cap 602.0M USD
  3. OBOOK HOLDINGS INC. (OWLS)Market cap 422.0M USD
  4. Rapid7, Inc. (RPD)Market cap 827.4M USD
  5. Katapult Holdings, Inc. (KPLT)Market cap 417.5M USD

Same industry (Software - Infrastructure) and size band (Small, 300M to 2B), nearest in market value, net margin and current ratio. Each of those counts equally, by how many of the companies considered sit between the two on it. Closest first: the order is likeness and nothing else.

6 of 10

Cash generation

Whether profit arrives as cash, and what is paid back to shareholders.

SEC filingComputed

Rackspace Technology, Inc: cash generation and what is paid out, each with its source
FigureValue, source and document
Free cash flow yield12.1% ComputedClose of Oct 14, 2026 · FY2025 10-K, filed Mar 6, 2026, 0001810019-26-000015
Free cash flow90.6M USD ComputedFY2025 10-K, filed Mar 6, 2026, 0001810019-26-000015
Free cash flow margin3.4% ComputedFY2025 10-K, filed Mar 6, 2026, 0001810019-26-000015
Dividend yield
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedClose of Oct 14, 2026 · FY2025 10-K, filed Mar 6, 2026, 0001810019-26-000015
Payout ratio
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedFY2025 10-K, filed Mar 6, 2026, 0001810019-26-000015
FY2017 Free cash flow: 102.2M USDFY2017 Net income: -59.9M USDFY2018 Free cash flow: 135.5M USDFY2018 Net income: -470.6M USDFY2019 Free cash flow: 94.9M USDFY2019 Net income: -102.3M USDFY2020 Free cash flow: 200.0K USDFY2020 Net income: -245.8M USDFY2021 Free cash flow: 262.4M USDFY2021 Net income: -218.3M USDFY2022 Free cash flow: 166.3M USDFY2022 Net income: -804.8M USDFY2023 Free cash flow: 278.0M USDFY2023 Net income: -837.8M USDFY2024 Free cash flow: -71.2M USDFY2024 Net income: -858.2M USDFY2025 Free cash flow: 90.6M USDFY2025 Net income: -225.8M USD
Free cash flow Net incomeProfit that arrives as cash stands level with net income; a gap year after year is worth reading about.

7 of 10

Filings

Every figure, the year it is for and the document it was read from.

SEC filingMarket data

The filed figures

Computed from the accounts this company filed with the SEC and, in a ratio with a price in it, the last close, dated on this page. Every filed figure below carries the fiscal year and the filing date its accounts were read from, and every blank carries the reason it is blank. Nothing here is a view on this company.

Rackspace Technology, Inc.: the eight ratios, with the fiscal year and filing date behind each.
FigureValueYearAs of
n/mFY2025Oct 14, 2026
n/m Not meaningful for this company, such as a P/E on negative earnings or a bank's EV/EBIT.
n/mFY2025Oct 14, 2026
n/m Not meaningful for this company, such as a P/E on negative earnings or a bank's EV/EBIT.
n/aFY2025Oct 14, 2026
n/a Operating profit is zero or negative, so there is no profit for a buyer's price to be a multiple of.
12.1%FY2025Oct 14, 2026
n/aFY2025Mar 6, 2026
n/a The filed income tax is outside 0 to 100% of pre-tax income (a tax benefit on a profit, a charge on a loss, or a charge above the profit), which is a one-off in the tax line and not a rate operating profit was taxed at, so after-tax operating profit is not computed.
n/aFY2025Oct 14, 2026
n/a The filed cash flow statement reports no dividend paid at all. That is not the same as a filed zero, and we will not read it as one.
n/mFY2025Mar 6, 2026
n/m Not meaningful for this company, such as a P/E on negative earnings or a bank's EV/EBIT.
0.68FY2025Mar 6, 2026
0.28xFY2025Oct 14, 2026
n/mFY2025Oct 14, 2026
n/m Not meaningful for this company, such as a P/E on negative earnings or a bank's EV/EBIT.
-1.11FY2025Oct 14, 2026
-2.93FY2025Mar 6, 2026
4/9FY2025Mar 6, 2026

The figures are computed from the accounts for fiscal 2025, the newest full year on file. 8 filed fiscal years on record, FY2018 to FY2025, from SEC EDGAR. Prices as of Oct 14, 2026. Ratios recomputed Oct 14, 2026. Two facts, because a recompute is not a fresh quote.

The year and the filing date name the statement each figure’s accounts are read from, and they stand even where the figure itself could not be computed: the line beneath a blank says what that statement did not carry. A figure’s name opens its formula and the filings behind it; a statement that names no SEC filing has no filing date, and reads n/a.

Ten years of filed figures, year by year

Ten years of filed figures

9 fiscal years, FY2017 to FY2025. 8 read from the annual reports Rackspace Technology, Inc filed with the SEC, each naming its filing; the rest from statements that name none, which are market data. Amounts in USD, as reported.

Rackspace Technology, Inc: revenue, earnings, free cash flow and returns, by fiscal year, with the filing each year was read from
YearRevenueOperating incomeNet incomeEPS, dilutedFree cash flowOperating marginReturn on equityFiling
FY20252.69B-100.7M-225.8M-0.9590.6M-3.8%n/m10-K, Mar 6, 20260001810019-26-000015
FY20242.74B-909.1M-858.2M-3.82-71.2M-33.2%n/m10-K, Mar 21, 20250001810019-25-000043
FY20232.96B-899.4M-837.8M-3.89278.0M-30.4%n/m10-K, Mar 15, 20240001810019-24-000042
FY20223.12B-679.0M-804.8M-3.81166.3M-21.8%-127.8%10-K, Mar 16, 20230001810019-23-000034
FY20213.01B-2.5M-218.3M-1.05262.4M-0.1%-16.4%10-K, Mar 1, 20220001810019-22-000036
FY20202.71B24.7M-245.8M-1.37200.0K0.9%-17.8%10-K, Feb 26, 20210001810019-21-000038
FY20192.44B101.6M-102.3M-0.6294.9M4.2%-11.4%10-K, Feb 26, 20210001810019-21-000038
FY20182.45B-237.2M-470.6M-2.85135.5M-9.7%n/a10-K, Feb 26, 20210001810019-21-000038
FY20172.14B-117.6M-59.9Mn/a102.2M-5.5%n/aMarket data, supplied Oct 15, 2026accession n/a
  • Revenue, compound annual growth FY2017 to FY2025: 2.9%
  • Earnings: Earnings was not positive in both 2017 and 2025, so a compound rate across the window is not defined. Both figures are in the table.
  • Earnings per share: Earnings per share was not positive in both 2018 and 2025, so a compound rate across the window is not defined. Both figures are in the table.
  • Free cash flow, compound annual growth FY2017 to FY2025: -1.5%

Every figure in this section is a line of a filed annual statement or a ratio of two of them. Nothing here is estimated or smoothed. Earnings per share filed before a share split are put on today's share count, and say so. Nothing here is a verdict on the company.

8 of 10

Risks and guardrails

The accounting screens, the published tests, and the lines you can set to be told.

ComputedCompany statement

Rackspace Technology, Inc: accounting screens and published tests, each with its source
FigureValue, source and document
Beneish M-score-2.93 ComputedFY2025 10-K, filed Mar 6, 2026, 0001810019-26-000015
Piotroski F-score4/9 ComputedFY2025 10-K, filed Mar 6, 2026, 0001810019-26-000015
Named tests met1 of 30 Computed
Beta3.94 ComputedClose of Oct 14, 2026

The named tests

Of 30 tests value investors published: 1 met, 18 not met, 11 we could not complete. Counts, never a score: a single figure would have to decide that meeting one investor’s criteria and meeting another’s are worth the same.

Which tests, by name(all 30)
Meets
Low P/S, rising earnings (James O'Shaughnessy)
Does not
Defensive investor (Benjamin Graham); Deep value; Large cap, low P/E; High F-score, low P/B (Joseph Piotroski); Three forensic scores; High returns and growth; Gross margin, turnover (Robert Novy-Marx); EV/EBITDA and coverage; Dividends and buybacks; Low beta, profitable; Near the 52-week low; Z-score and coverage (Edward Altman); Two thirds of NCAV (Benjamin Graham); High returns, low debt; Owner earnings yield; High return on tangibles; Tangible book or below; Clean books, high ROIC
Not measured
Earnings yield and ROIC (Joel Greenblatt); Low PEG, low debt (Peter Lynch); High yield, low payout; ROIC at or above WACC; P/E times P/B (Benjamin Graham); Book or below, low debt (Walter Schloss); Cash-covered dividend; Cash-flow yield and ROIC; Cheapest quarter on P/E (David Dreman); Cheapest quarter on P/B (David Dreman); Low P/E, growth, yield (John Neff). A test with a figure we could not read is incomplete, never met and never failed.
Figures we could not read(16)
  • Debt to Equity: Filed shareholders equity is zero or below, so debt measured against it is not a measurement (n/m).
  • P/B Ratio: Book equity is zero or negative, so a ratio measured against it (debt to equity, price to book) is not a measurement, and we will not show a number.
  • P/E Ratio: Earnings are zero or negative, so a price to earnings multiple is not meaningful. A negative P/E is not a cheap company and a large positive one from a near-zero denominator is not an expensive one.
  • EV/EBIT: We do not hold this figure for this company, so there is nothing to show.
  • Return on Invested Capital: The filed income tax is outside 0 to 100% of pre-tax income (a tax benefit on a profit, a charge on a loss, or a charge above the profit), which is a one-off in the tax line and not a rate operating profit was taxed at, so after-tax operating profit is not computed.
  • PEG Ratio: Earnings are zero or negative, so a price to earnings multiple is not meaningful. A negative P/E is not a cheap company and a large positive one from a near-zero denominator is not an expensive one.
  • Eps Growth 5Y: We do not hold this figure for this company, so there is nothing to show.
  • Return on Equity: Book equity is zero or negative. Return on equity computed over it flips sign and can read as a strong positive on a loss-making company, so we will not show a number.
  • Interest Coverage: Operating income is zero or below, so there is no operating profit to cover the interest bill and coverage is not meaningful (n/m).
  • Dividend Yield: We do not hold this figure for this company, so there is nothing to show.
  • Payout Ratio: We do not hold this figure for this company, so there is nothing to show.
  • ROIC-WACC Spread: We do not hold this figure for this company, so there is nothing to show.
  • Price To Graham: Earnings are zero or negative, so a price to earnings multiple is not meaningful. A negative P/E is not a cheap company and a large positive one from a near-zero denominator is not an expensive one.
  • Dividend Coverage Ratio: We do not hold this figure for this company, so there is nothing to show.
  • Dividend Streak: We do not hold this figure for this company, so there is nothing to show.
  • Price Tangible Book: Book equity is zero or negative, so a ratio measured against it (debt to equity, price to book) is not a measurement, and we will not show a number.

9 of 10

Declared positions

Whether anybody here owns this company.

Positions declared by the founder: no holding in any company shown here, as of October 3, 2026.

10 of 10

Next step

What to do with what you have read.

A thesis is your reason for owning it, in your words, with the figures that must stay true. Checking those figures every night against the newest filed accounts, and telling you once when one breaks, is what the subscription adds.

More on this company

What this cannot tell you

  • 16 figures could not be read on this company, among them Debt to Equity, P/B Ratio, P/E Ratio. Each blank in the table above names the rest, with its reason. 11 named tests come back incomplete because of them, which is neither met nor missed.
  • We hold 8 filed fiscal years rather than 10, so the run above is shorter than a full decade and is counted as what it is.

And the one that is true of all of it: This is what the numbers say today. It cannot tell you the day one of them stops being true. Nothing here can, because the reasons are not written down.

Running this once is arithmetic on public documents and you are welcome to it. Writing down why you own each company, in your own words and with the numbers that have to stay true for it to hold, and then having those numbers re-checked every night against the newest filed accounts, and against the latest close where a rule watches a price, is Professional, the plan a new account starts on for 30 days, one trial per person. It writes to you the day one breaks, and stays quiet when nothing does. The check runs every night at 23:30 UTC. A filing is picked up the night after it is published.

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ValueScreener · valuescreener.ai · Computed from accounts filed with the SEC by this company, read from EDGAR, and from dated closing prices. On this page a filed figure opens into its formula, its inputs and the statement, fiscal year and filing date it was read from, and a price into the day of its close. A figure that cannot show that trail says so.

A computation on accounts filed with the SEC, not a recommendation and not advice. Past filings do not indicate future results. Risk disclaimer.

Once a week, what changed in the filings of US-listed companies, why it can matter to a thesis, and what deserves a closer review. Grounded in filings, not market noise.

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Risk disclaimer. This service is provided for research and education only. Nothing on it is investment advice, a recommendation, or an offer to buy or sell any security. Capital is at risk, and past performance does not indicate future results. Figures come from filed accounts and may be incomplete, delayed or later restated, so verify a number against the filing before you act on it.