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Rivian Q3 Preview: Impressive Delivery Numbers, Management Should Consider A Sale (NASDAQ:RIVN)

7 Mins read

Investment Thesis

Rivian’s (NASDAQ:RIVN) upcoming Q3 earnings are poised to be a significant inflection point for the company, especially following the market’s jittery response to its preliminary sales figures and the announcement of a substantial convertible note offering. Despite a promisingestimates

Model (Brand)

Q3 Sales

EDV500/700 [Amazon] (Rivian)

2,645

R1T (Rivian)

3,736

E-Transit (Ford)

2,617

F-150 Lightning (Ford)

3,503

Net Cost of Acquisition

RIVN

Current Enterprise Value

$8.87 Billion

Share Buyout Price

~$20 Billion ($20/share)

Current Market Cap (As of Close 10/20/2023)

$15.72 Billion

Cash on Hand End of Q3 (ex. Convertible Note)

$9.1 Billion

Net EV/Takeover Value: Current EV + Takeover Premium on Shares)

$13.15 Billion

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