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NASDAQ NMS - GLOBAL MARKET · Semiconductors · CIK 0002021728
$117.98
-0.22% · delayed ~15 min
Last price from Oct 21, 2026
$25.38B market value
From Cerebras Systems Inc.'s FY2025 annual-report
Cerebras Systems designs and makes computer chips. It took in $510.0M last year, which makes it a smaller company. Of every dollar it sells, about 47 cents is left as profit.
The financial picture is led by growth, with profitability worth watching, while debt remain weak.
A conclusion from the filings, not a recommendation. Detailed figures and supporting evidence appear in their dedicated sections below.
Financial health
A mixed picture — some clear strengths and some weaknesses.
From Cerebras Systems Inc.'s FY2025 annual filing · share price scored separately
Largest year-over-year changes in FY2025
Revenue
$290.3M → $510.0M
Gross profit
$122.7M → $199.1M
Operating income
-$101.4M → -$145.9M
Profit
-$481.6M → $237.8M
Measured against FY2024, from the annual-report
Improved: +75.7%
$290.3M to $510.0MCritical
Why it matters: Sales are what everything else is built on. A fall can be lost customers, lower prices, or a business the company sold — the filing itself says which.
How the latest move compares (quote delayed ~15 min), and what was published around it
CBRS fell 0.22% on the latest quote. The average Technology company tracked here moved −1.27%, and the S&P 500 −1.04%. That is 1.0 points above its sector and 0.8 points above the market.
Expectations
Not from the filings — what other people are betting on, and what the price already assumes.
Opinions from 18 analysts covering this company, as of . Their views, not this site's.
Of 18 analysts publishing on this company, 4 say strong buy, 11 say buy and 3 say hold. Analysts are paid to publish a view and are wrong often; the split above says how much they agree with each other, which is the part a single headline rating hides.
Published by Finnhub. Analyst coverage skews towards larger companies and towards optimism — sell ratings are rare across the whole market, so a company with none is ordinary rather than endorsed.
The essentials
Each answered from the filings, with the numbers behind it.
Yes. It keeps about 47 cents of every dollar of sales as profit, earning $237.8M last year. Note that operations still consumed cash despite the reported profit.
Yes, quickly. Sales grew 75.7% last year.
Yes. It owes more than it owns — only $0.80 in assets for every $1 of liabilities.
Core operating and valuation reference metrics
Income
This company pays no dividend. It keeps its profits and reinvests them in the business instead, so any return would have to come from the share price.
Figures from the FY2025 annual filing
Last year it earned $237.8M and generated -$10.1M of cash from operations.
Reported annual figures
As reported to the SEC, in USD. Hover or show sources to see where each figure came from.
| Income statement | FY2025annual-report | FY2024annual-report | FY2023annual-report | FY2022annual-report | ChangeFY2025 vs FY2024 |
|---|---|---|---|---|---|
| RevenueWhat is this? | $510.0M | $290.3M | $78.7M | $24.6M | +75.7% |
| Cost of revenue | $310.9M | $167.5M | $52.4M | $21.7M | +85.6% |
| Gross profit | $199.1M | $122.7M | $26.4M | $2.9M | +62.2% |
| Gross marginGross profit ÷ revenueWhat is this? | 39.0% | 42.3% | 33.5% | 11.7% | −3.3 pts |
| Selling, general and administrative | $101.6M | $65.9M | $20.2M | $26.3M | +54.1% |
| Operating income | -$145.9M | -$101.4M | -$133.9M | -$178.8M | −43.8% |
| Operating marginOperating income ÷ revenueWhat is this? | -28.6% | -34.9% | -170.1% | -726.4% | +6.3 pts |
| Income before tax | $244.9M | -$479.7M | -$127.0M | -$177.5M | n/m |
| Net income | $237.8M | -$481.6M | -$127.2M | -$177.7M | n/m |
| Net marginNet income ÷ revenueWhat is this? | 46.6% | -165.9% | -161.5% | -721.9% | +212.6 pts |
| Earnings per shareNet income ÷ shares outstanding at the period end — close to, but not the same as, the reported EPSWhat is this? | $1.11 | $-2.24 | $-0.5911 | $-0.8262 | n/m |
† calculated from other reported figures, such as total liabilities as assets minus equity.
This company's latest filing beside its peers' stored scores
| Company | Health | F-Score | Revenue growth | Profit margin | P/E | Debt to equity |
|---|---|---|---|---|---|---|
| CBRSCerebras Systems Inc. · this page | 6.0/10 | 4/8 |
Insider activity, ownership stakes and what's coming — straight from EDGAR, before any article is written about it
Officers, directors and major shareholders must report within two business days of a trade.
Reported another kind of transaction — 59,126 shares
Holds 334,980 shares after this filing.
Reported another kind of transaction — 159 shares
Holds 1,085 shares after this filing.
Reported another kind of transaction
9 recent filings, newest first. Each is labelled from its form and item numbers, not from its wording.
Quarterly report on Form 10-Q
Read the filingPublished results
Read the filingWrite down why you are following Cerebras Systems Inc., what has to go right and what would change your mind, then see each new annual report measured against it. Sign in to start one.
Go deeper
Every figure above traces back to a filing in the timeline, each linked to the document itself.
Coverage from the last 30 days
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Every company's figures are checked for internal consistency: the balance sheet adding up, figures sharing one currency, cash flow and share counts within plausible ranges, and how recent the latest annual report is. Nothing here changes a figure.
Financial figures are from CBRS's annual-report for fiscal year 2025 (period ending 2025-12-31), reported under the US GAAP taxonomy.
3 of 4 scored areas had enough reported figures to judge
The score averages profitability, growth, debt and accounting. Accounting had too few reported figures and is left out of the average rather than counted as a weakness, so a company is never marked down for a figure it did not publish. Cash generation is shown for context and already feeds profitability. Valuation is scored separately, because a share price says nothing about whether the business is sound. 8 of the 9 Piotroski checks could be evaluated. How the score works
Every check behind the three models, and what each one tests
4 of 8 checks passed
Nine yes-or-no tests of whether this year's finances improved on last year's. One could not be evaluated and is excluded from the total rather than counted as a failure.
5.13
In the safe zone
For this model, above 2.99 is safe and below 1.81 is distress.
Distance from bankruptcy, from a model fitted on companies that did and did not go bust. It describes a balance sheet's shape today; it does not forecast a failure.
not reported — This company has not reported enough of the required figures to calculate this score.
This company has not reported enough of the required figures to calculate this score.
Screens eight accounting ratios for the pattern earnings manipulators tend to leave. A flag is a reason to read the filing closely, never evidence of wrongdoing.
Improved: +62.2%
$122.7M to $199.1MCritical
Why it matters: What is left of sales after the direct cost of producing them. It normally moves with revenue, so a move out of step with revenue is the part worth noticing.
Deteriorated: $44.4M wider
-$101.4M to -$145.9MCritical
Why it matters: Profit from running the business, before interest and tax. Less exposed than profit to one-off financing and tax items, so a clearer read on the business itself.
Improved: turned positive
-$481.6M to $237.8MCritical
Why it matters: Profit swings far more than sales do, and one-off items — a legal settlement, a tax charge, an asset sale — move it without the underlying business changing.
Improved: +212.6 pts
-165.9% to 46.6%Critical
Why it matters: What survives to the very end of each sale. Worth reading beside revenue: growing sales on a shrinking margin means the company is buying its growth.
Deteriorated: turned negative
$428.5M to -$392.8MCritical
Why it matters: Cash left after paying for the plant that produced it — the money genuinely available for dividends, buybacks or paying down debt. Harder to flatter than profit.
Improved: turned positive
-$2.24 to $1.11Critical
Why it matters: Profit divided by the shares in issue at the period end, so it sits close to but not on the company's own reported figure. It can rise with no growth in profit when the company buys back stock — read it beside the share count.
Improved: +218.7%
$220.2M to $701.7MCritical
Why it matters: A falling cash pile is only a warning if the company is consuming it. Paying down debt, buying back stock and paying a dividend all reduce cash by choice.
Changed: +1533.2%
$23.4M to $382.7MCritical
Why it matters: Neither good nor bad on its own. Heavy spending is a company building capacity or a company struggling to stand still, and the two look identical in this figure.
Deteriorated: −3.3 pts
42.3% to 39.0%Significant
Why it matters: What survives each sale before overheads. Falling gross margin usually means the company is discounting or its input costs rose — it is the earliest place pricing pressure shows.
Improved: +6.3 pts
-34.9% to -28.6%Significant
Why it matters: What survives each sale after running the business. A falling operating margin beside a steady gross margin points at overheads — wages, marketing, research — rather than pricing.
1 other measure barely moved. Figures compare the two most recent annual filings. Moves are graded on fixed lines — 5%, 15% and 40% for amounts, and 1, 3 and 8 points for margins — as notable, significant or critical. Nothing here reads the management commentary, which is where a company explains its own numbers.
These coincide with the move in time. None is presented as its cause: a price can move on news that names no company, on the wider market, or on trading that no document records.
Filter by minute, hour, day or week — or compare against peers
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Measured on and published about a week later — this is a fortnightly snapshot, not a live position.
About 6.6% of this company's shares have been borrowed and sold by people expecting to buy them back cheaper. That is a bet the price falls. Those people can be wrong, and when a heavily shorted share rises they have to buy it back, which pushes it up further.
Collected by FINRA from broker-dealers twice a month. It counts positions, not intentions, and some of it is hedging rather than a directional bet against the company.
Nothing in this section is a figure this company reported about itself. These are expectations and positions — what the price implies, what analysts have published, what short sellers are betting, and what large funds held at the last count. WylthIQ reports them; it does not endorse them, does not forecast prices, and takes no view on whether any of them will turn out to be right.
The trailing P/E is 106.7x — a high multiple relative to the current trailing profit.
This company has not reported enough of the required figures to calculate this score.
| 75.7% |
| 46.6% |
| 106.71x |
| -5.02x |
| MCHPMICROCHIP TECHNOLOGY INC | 7.0/10 | 7/9 | 7.1% | 4.9% | 175.63x | 1.23x |
|---|
| ONON SEMICONDUCTOR CORP | 6.0/10 | 4/9 | -15.3% | 2.0% | 240.11x | 0.63x |
|---|
| SWKSSKYWORKS SOLUTIONS, INC. | 8.0/10 | 6/9 | -2.2% | 11.7% | 25.68x | 0.38x |
|---|
| Median of peers | 7.0/10 | — | -2.2% | 4.9% | 175.63x | 0.63x |
|---|
Peers come from the company's industry classification. A difference describes the companies; it does not rank them.
Holds 5,292,222 shares after this filing.
Reported another kind of transaction — 68,428 shares
Holds 420,355 shares after this filing.
Reported another kind of transaction — 63,056 shares
Holds 372,659 shares after this filing.
Sold on the open market — 1,320 shares at $204.50 ($269.9K)
Holds 15,356 shares after this filing.
Converted a derivative security — 276,000 shares
Holds 396,000 shares after this filing.
Sold on the open market — 598 shares at $212.93 ($127.3K)
Holds 395,402 shares after this filing.
Sold on the open market — 18,274 shares at $212.20 ($3.9M)
Holds 377,128 shares after this filing.
Sold on the open market — 41,391 shares at $211.29 ($8.7M)
Holds 335,737 shares after this filing.
Sold on the open market — 46,427 shares at $210.27 ($9.8M)
Holds 289,310 shares after this filing.
Sold on the open market — 41,278 shares at $209.33 ($8.6M)
Holds 248,032 shares after this filing.
Sold on the open market — 20,714 shares at $208.38 ($4.3M)
Holds 227,318 shares after this filing.
Sold on the open market — 9,652 shares at $207.06 ($2.0M)
Holds 217,666 shares after this filing.
Sold on the open market — 9,047 shares at $206.13 ($1.9M)
Holds 208,619 shares after this filing.
Sold on the open market — 8,729 shares at $205.17 ($1.8M)
Holds 199,890 shares after this filing.
Sold on the open market — 27,492 shares at $204.17 ($5.6M)
Holds 172,398 shares after this filing.
Sold on the open market — 9,682 shares at $203.37 ($2.0M)
Holds 162,716 shares after this filing.
Sold on the open market — 5,637 shares at $201.91 ($1.1M)
Holds 157,079 shares after this filing.
Sold on the open market — 22,915 shares at $200.96 ($4.6M)
Holds 134,164 shares after this filing.
Sold on the open market — 17,848 shares at $199.89 ($3.6M)
Holds 116,316 shares after this filing.
Sold on the open market — 17,000 shares at $198.96 ($3.4M)
Holds 99,316 shares after this filing.
Sold on the open market — 5,170 shares at $197.85 ($1.0M)
Holds 94,146 shares after this filing.
Sold on the open market — 6,613 shares at $197.05 ($1.3M)
Holds 87,533 shares after this filing.
Sold on the open market — 18,703 shares at $195.56 ($3.7M)
Holds 68,830 shares after this filing.
Sold on the open market — 68,830 shares at $194.91 ($13.4M)
Holds 0 shares after this filing.
Sold on the open market — 1,830 shares at $211.79 ($387.6K)
Holds 30,670 shares after this filing.
Sold on the open market — 2,771 shares at $211.03 ($584.8K)
Holds 27,899 shares after this filing.
Sold on the open market — 2,802 shares at $210.02 ($588.5K)
Holds 25,097 shares after this filing.
Sold on the open market — 2,197 shares at $208.98 ($459.1K)
Holds 22,900 shares after this filing.
Sold on the open market — 700 shares at $207.83 ($145.5K)
Holds 22,200 shares after this filing.
Sold on the open market — 800 shares at $206.68 ($165.3K)
Holds 21,400 shares after this filing.
Sold on the open market — 600 shares at $205.47 ($123.3K)
Holds 20,800 shares after this filing.
Sold on the open market — 1,600 shares at $204.26 ($326.8K)
Holds 19,200 shares after this filing.
Sold on the open market — 800 shares at $203.48 ($162.8K)
Holds 18,400 shares after this filing.
Sold on the open market — 400 shares at $201.96 ($80.8K)
Holds 18,000 shares after this filing.
Sold on the open market — 11,200 shares at $201.22 ($2.3M)
Holds 6,800 shares after this filing.
Sold on the open market — 1,130 shares at $199.80 ($225.8K)
Holds 5,670 shares after this filing.
Sold on the open market — 870 shares at $198.70 ($172.9K)
Holds 4,800 shares after this filing.
Sold on the open market — 685 shares at $197.48 ($135.3K)
Holds 4,115 shares after this filing.
Sold on the open market — 1,115 shares at $195.61 ($218.1K)
Holds 3,000 shares after this filing.
Sold on the open market — 3,000 shares at $194.92 ($584.8K)
Holds 0 shares after this filing.
Converted a derivative security — 120,000 shares
Holds 465,569 shares after this filing.
Gifted shares — 36,000 shares
Holds 429,569 shares after this filing.
Sold on the open market — 500 shares at $212.14 ($106.1K)
Holds 429,069 shares after this filing.
Sold on the open market — 9,177 shares at $211.32 ($1.9M)
Holds 419,892 shares after this filing.
Sold on the open market — 30,565 shares at $210.45 ($6.4M)
Holds 389,327 shares after this filing.
Sold on the open market — 29,991 shares at $209.53 ($6.3M)
Holds 359,336 shares after this filing.
Sold on the open market — 21,022 shares at $208.41 ($4.4M)
Holds 338,314 shares after this filing.
Sold on the open market — 6,869 shares at $207.54 ($1.4M)
Holds 331,445 shares after this filing.
Sold on the open market — 13,776 shares at $206.63 ($2.8M)
Holds 317,669 shares after this filing.
Sold on the open market — 5,900 shares at $205.30 ($1.2M)
Holds 311,769 shares after this filing.
Sold on the open market — 2,200 shares at $204.50 ($449.9K)
Holds 309,569 shares after this filing.
Reported another kind of transaction — 451,118 shares
Holds 6,490,711 shares after this filing.
Reported another kind of transaction — 25,757 shares
Holds 351,927 shares after this filing.
Reported another kind of transaction — 23,735 shares
Holds 309,603 shares after this filing.
Notice filed ahead of a planned sale — the sale itself has not necessarily happened yet.
Filed notice to sell 32,500 shares ($6.4M) on or after .
Shares originally obtained via Previously Exercised Stock Options.
Filed notice to sell 396,000 shares ($77.9M) on or after .
Shares originally obtained via Exercise of Stock Options.
Filed notice to sell 120,000 shares ($24.8M) on or after .
Shares originally obtained via Exercise of Stock Options.
Filed notice to sell 53,460 shares ($10.2M) on or after .
Shares originally obtained via Performance Stock Units.
Filed notice to sell 37,441 shares ($7.1M) on or after .
Shares originally obtained via Exercise of Stock Options.
Filed notice to sell 50,000 shares ($9.5M) on or after .
Shares originally obtained via Private Placement.
Not investment advice, and not a signal to act on by itself — a filing says what happened, not why, and insiders trade for ordinary reasons having nothing to do with where they think the company is headed.
Quarterly report on Form 10-Q
Published results
Read the filingAmended its charter or changed its financial year · Reported another event
Read the filingRegistration statement for an offering of securities
Read the filingRegistration statement for an offering of securities
Read the filingRegistration statement for an offering of securities
Read the filingRegistration statement for an offering of securities
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Primary sources and further research