Liveramp Holdings Inc
🔔 Watch stock
Assessment
Our Rating
A journalistic assessment by our editorial team at the time of the deep dive — it rates the company, not the entry point. Not investment advice and not a solicitation to buy or sell.
The business works in principle, but one material question is open. As long as it stays open, our findings do not carry a quality verdict.
Why this colour
The business is demonstrably there and the balance sheet raises no question of survival: $812.9 million of revenue in fiscal 2026 (up 9.0 percent), $545 million of annualized recurring revenue, 107 percent subscription net retention, $760.4 million of remaining performance obligation, plus $972.0 million of equity, $379.5 million in cash, no financial debt and an equity ratio of 75.1 percent (Piotroski F-score 7 of 9). Two operating questions remain open, and both carry weight. First, earnings quality: of $146.0 million in net income, $46.7 million came from the one-off release of a valuation allowance on deferred tax assets (an effective tax rate of negative 47.6 percent), almost entirely in the closing quarter; only $20.6 million of allowance remains. Second, earning power itself: operating income of $83.5 million matches stock-based compensation of $83.0 million almost dollar for dollar, and three quarters of the $32.9 million cost decline came from that very line. Add $502.1 million of goodwill (38.8 percent of total assets) and customer concentration of roughly 30 percent on the ten largest customers. Demonstrated quality with unresolved earnings quality — that is yellow, not green.
What the thesis turns on
Assessment: Opportunities & Risks
LiveRamp is the finish-line trap in its purest form: a company that genuinely completed its turnaround — $812.9 million of revenue, $83.5 million of operating income, $166.4 million of free cash flow in fiscal 2026, without a dollar of debt — but whose reward was handed out on May 16, 2026, when Publicis offered $38.50 per share in cash. What is bought today is therefore not a business but a wager on two-thirds approval on August 17, 2026 and on antitrust and CFIUS clearances, paid at a gap of just over 2 percent to the offer. Anyone still valuing the company as a company must set two figures side by side: $46.7 million of the $146.0 million net income came from a one-off tax benefit, and the entire operating income of $83.5 million matches stock-based compensation of $83.0 million almost dollar for dollar. Not investment advice.
Operating turnaround
A $180.9 million operating loss in fiscal 2020 became $83.5 million of operating income in fiscal 2026; $380.6 million of revenue became $812.9 million. Operating margin rose from 0.7 percent to 10.3 percent and free cash flow to $166.4 million. Annualized recurring revenue $545 million, net retention 107 percent (March 31, 2026).
Earnings quality
Net income of $146.0 million rests on pre-tax income of $98.1 million: $46.7 million arrived as a tax benefit from a valuation allowance release (effective rate negative 47.6 percent), almost entirely in the closing quarter of fiscal 2026. Only $20.6 million of allowance remains — the effect will not repeat.
Stock compensation and buybacks
Stock-based compensation of $83.0 million almost exactly equals operating income of $83.5 million; three quarters of the $32.9 million cost decline came from that line. Since 2011, 48.6 million shares have been repurchased for $1.2 billion while 54.0 million shares stand reserved for the equity plans — buybacks as dilution repair.
Balance sheet
No financial debt, $379.5 million in cash, $972.0 million of equity, an equity ratio of 75.1 percent (March 31, 2026); interest income of $14.8 million against $32 thousand of interest expense. Piotroski F-score 7 of 9, Altman Z 12.55 (data as of July 24, 2026). The drag: $502.1 million of goodwill, 38.8 percent of total assets.
Merger and process risk
Publicis is offering $38.50 in cash (about 30 percent above $29.66 on May 15, 2026). Outstanding are approval by two thirds of all outstanding shares on August 17, 2026, antitrust clearances and CFIUS review — no formality for a U.S. data business bought by a French group. On July 1, 2026 the price stood at $37.68, 2.1 percent below the offer.
Valuation and incentives
The value range calculated by adviser Evercore runs from $33.83 to $49.38 per share; the offer sits in the lower third. Five executives stand to receive $82.7 million in connection with the sale, more than twice the $32.35 million termination fee; the chief executive has already signed on with Publicis for the period after closing.
Worth Noting
LiveRamp reached our research list through our in-house stock scanner for turnaround candidates (U.S. selection). Important for context: the turnaround check produced 6 of 8 points — 44 of the 60 U.S. hits score the same, and that tied group shares ranks 17 through 60. Only the 25 strongest hits are displayed, and LiveRamp is not among them. An exact rank would be a random number at that level of ties. A second hit sits on the Altman Z balance-sheet fortress list. Both lists are recomputed daily (measured July 27, 2026).
The data basis is the annual report 10-K for fiscal 2026 (filed May 21, 2026, the most recent periodic report), the quarterly report 10-Q as of December 31, 2025, the merger proxy DEFM14A of July 6, 2026 and the 8-K filings of May 18, 2026 and July 20, 2026. Market data as of July 24, 2026. The share count comes from the most recent document that states one (60,786,315 as of the June 18, 2026 record date); the cross-check of share count times documented price ($37.68 on July 1, 2026) confirms market capitalization of roughly $2.29 billion.
Risk of confusion: LiveRamp Holdings was named Acxiom Corporation until September 2018 — the SEC identifier (CIK 0000733269) and therefore the time series are continuous. Not to be confused with Ramp Business Corporation, a privately held spend management provider. The fiscal year ends March 31, so fiscal 2026 largely covers calendar 2025.
Stock Watch
This analysis is as of August 26, 2026. Stock Watch will tell you what's changed at RAMP since then.
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Price history
Chart
Interactive price chart (TradingView).
52-week range: 22.40 $ to 38.00 $ · Last price: 37.90 $ (As of: September 17, 2026)
Key figures
Key figures at a glance
Every figure we hold for this stock, grouped by topic. The question mark next to a label explains what the number means.
Basics
Performance
Technical Indicators
Calculated from the price history · as of 09/18/2026
Valuation
Profitability
Balance Sheet & Safety
Growth
Dividend
This stock currently pays no dividend.
Quality & Screener
Highlighted are things our editorial team noticed: green = stands out as strong, red = deserves a closer look. No single metric is a verdict on its own — always read it in context.
Comparison
Industry comparison
The stock alongside the largest companies in the same group. The median row is the middle value of the companies shown above — not of the whole industry.
Industry: Software - Infrastructure
| Company | Market cap ($B) | P/E | EV/EBITDA | Gross Margin % | EBIT Margin % | Sales Growth (Year) % | Perf. 1Y % |
|---|---|---|---|---|---|---|---|
| Liveramp Holdings Inc RAMP | 2.3 | 17.0 | 15.7 | 70.8 | 9.0 | 9.0 | 41.5 |
| Microsoft Corporation MSFT | 3,632.6 | 30.8 | 17.6 | 67.9 | 46.3 | 14.9 | -1.6 |
| Oracle Corporation ORCL | 435.3 | 24.7 | 14.8 | 64.0 | 36.2 | 17.4 | -49.5 |
| Palantir Technologies Inc. PLTR | 432.5 | 199.0 | 147.5 | 84.8 | 46.2 | 56.2 | 4.7 |
| Palo Alto Networks Inc PANW | 305.7 | 302.6 | 194.0 | 70.4 | -2.5 | 14.9 | 84.7 |
| Crowdstrike Holdings Inc CRWD | 248.2 | – | 490.1 | 75.2 | -2.2 | 21.7 | 120.6 |
| Fortinet Inc FTNT | 124.2 | 61.8 | 39.6 | 80.2 | 31.3 | 14.2 | 115.0 |
| Cloudflare Inc NET | 115.1 | – | 2,805.8 | 72.6 | -9.7 | 29.9 | 56.1 |
| Synopsys Inc SNPS | 73.0 | 77.0 | 22.3 | 82.9 | 10.4 | 15.1 | -10.4 |
| Median of companies shown | 248.2 | 61.8 | 39.6 | 72.6 | 10.4 | 15.1 | 41.5 |
Based on the most recently reported figures. Only stocks from the same trading venue are lined up, so the market caps are counted in one currency. Compare in a chart →
Fiscal years
Annual Figures
Fiscal years from the audited annual reports, oldest first. EBIT is the operating profit before interest and taxes; total assets are everything the company owns.
Revenue, operating income and net income per fiscal year $M
Revenue Operating income Net income
| Fiscal Year | Revenue ($M) | EBIT ($M) | Net Income ($M) | EPS ($) | Operating Cash Flow ($M) | Equity ($M) | Total Assets ($M) |
|---|---|---|---|---|---|---|---|
| 2017 | 880 | 16 | 4 | 0.05 | 116 | 739 | 1,235 |
| 2018 | 917 | 11 | 23 | 0.29 | 112 | 749 | 1,209 |
| 2019 | 286 | -198 | 1,029 | 13.71 | -461 | 1,331 | 1,473 |
| 2020 | 381 | -181 | -125 | -1.84 | -29 | 1,088 | 1,302 |
| 2021 | 443 | -121 | -90 | -1.36 | -21 | 1,081 | 1,288 |
| 2022 | 529 | -66 | -34 | -0.50 | 78 | 1,063 | 1,334 |
| 2023 | 597 | -126 | -119 | -1.79 | 40 | 926 | 1,173 |
| 2024 | 660 | 11 | 12 | 0.17 | 107 | 949 | 1,231 |
| 2025 | 746 | 5 | -1 | -0.01 | 156 | 949 | 1,259 |
| 2026 | 813 | 88 | 146 | 2.30 | 169 | 972 | 1,294 |
Quarters
Quarterly Figures
Each bar is one quarter, the last one is the most recent. Use the switch to step through the individual figures.
Revenue & Profit
Cash Flow
Balance Sheet
Margins
Per Share
Click the chart or tab into it, then use ← and → to step through the periods.
None of the selected stocks reports this metric. Pick another metric or switch between annual and quarterly.
· Total · per year
These companies report in different currencies — switch on “Indexed” or pick a margin for a fair comparison.
The figures could not be loaded right now.
Source: fundamental data
| Quarter | EPS (Earnings Per Share) | EPS YoY (%) | Sales ($M) | Sales YoY (%) | Net Margin (%) | OCF ($M) | FCF ($M) |
|---|---|---|---|---|---|---|---|
| 2024: Q4 | 0.17 | -19.00 | 195 | 12.40 | 5.70 | 48 | 47 |
| 2025: Q1 | -0.09 | – | 189 | 9.80 | -3.30 | 62 | 62 |
| 2025: Q2 | 0.12 | – | 195 | 10.70 | 4.00 | -16 | -16 |
| 2025: Q3 | 0.42 | 1,519.90 | 200 | 7.70 | 13.70 | 57 | 57 |
| 2025: Q4 | 0.62 | 272.40 | 212 | 8.60 | 18.80 | 67 | 67 |
| 2026: Q1 | 1.12 | – | 206 | 9.20 | 34.40 | 60 | 60 |
| 2026: Q2 | 0.28 | 133.30 | 214 | 9.90 | 8.20 | 17 | 16 |
What Do These Terms Mean?
- EPS (Earnings Per Share):
- Quarterly profit divided by the total share count — how much of the profit works out to a single share.
- YoY (Year over Year):
- Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
- Sales:
- All revenue for the quarter, before any costs are deducted — the top line of the income statement.
- Net Margin:
- What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
- OCF (Operating Cash Flow):
- The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
- FCF (Free Cash Flow):
- Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.
Screening
Appears in These Scanners
This stock currently matches 1 of our scanner strategies — each hit links to the scanner.
Research
Only genuine hits from verified scanners count; pure ranking metrics (P/E, P/S, and similar, which just sort the whole universe) don't count as a hit. View all scanners
Outlook
Analysts & Price Target
Combined picture of the price targets and recommendations of every analyst covering the stock. Price targets are expectations for the next 12 months, not promises — and they often follow the price rather than predict it.
Distribution of Recommendations
Estimates by Fiscal Year
| Fiscal Year | EPS Estimate ($) | EPS Range ($) | Revenue Estimate ($M) | Expected Growth | Analysts |
|---|---|---|---|---|---|
| 03/31/2027 | 2.95 | 2.95 – 2.95 | 891 | 30.0% | 1 |
| 03/31/2028 | 3.45 | 3.41 – 3.49 | 974 | 17.0% | 2 |
Average of the analyst estimates for the coming fiscal years. The range shows how far the most optimistic and the most cautious estimate sit apart — the wider it is, the less certain the expectation.
Valuation
What is priced in?
Instead of guessing what the stock is worth, we turn the question around: what free cash flow growth has to happen for today’s market value to add up? The assumptions behind it can be moved.
Today’s market value implies roughly -0.1% growth in free cash flow per year over ten years (assumptions: discount rate 10.0%, terminal growth 2.5%).
| Free cash flow (last twelve months) | $200.4M |
|---|---|
| Market cap | $2.28B |
| Free cash flow in year ten | $199.3M |
| Terminal value as a share of market value | 46.1% |
It shows which assumption is built into today’s price, not whether that assumption will hold. Every assumption can be changed with the sliders; the figures move with them.
A simplified model calculation — not a forecast and not a recommendation.
AI classification
AI Rating
LiveRamp baut KI in die eigene Plattform ein — sie ist laut Geschäftsbericht 2026 für den Zugriff durch KI-Agenten ausgelegt und mit den KI-Modellen der Kunden interoperabel —, weist aber keinen eigenen KI-Umsatz und kein KI-Produkt als Erlösquelle aus; der Umsatz zerfällt in Abonnement (614,4 Mio. US-Dollar) und Marktplatz/Sonstiges (198,6 Mio.).
View the full file — quotes, sources, reviewed filings
„Our platform is engineered for AI agent accessibility, facilitating autonomous data collaboration between the specialized AI agents utilized by our customers and partners and our networked platform."
Unsere Plattform ist auf den Zugriff durch KI-Agenten ausgelegt und ermöglicht die selbsttätige Datenzusammenarbeit zwischen den spezialisierten KI-Agenten unserer Kunden und Partner und unserer vernetzten Plattform.
10-K · 2026-05-21 · View SEC filing
„Our platform is configured to be interoperable with the AI models, applications and agents that our customers and partners are deploying to derive marketing outcomes more effectively and efficiently."
Unsere Plattform ist so eingerichtet, dass sie mit den KI-Modellen, -Anwendungen und -Agenten zusammenarbeitet, die unsere Kunden und Partner einsetzen, um Marketing-Ergebnisse wirksamer und effizienter zu erzielen.
10-K · 2026-05-21 · View SEC filing
„Furthermore, the expected benefits from the utilization of technological innovations (including AI) may not be realized as soon as expected or at all."
Darüber hinaus treten die erwarteten Vorteile aus dem Einsatz technischer Neuerungen (einschließlich KI) womöglich nicht so früh wie erwartet oder gar nicht ein.
10-K · 2026-05-21 · View SEC filing
Filings Reviewed: 10-K 2026-05-21 · 10-Q 2026-02-05 · 10-Q 2025-11-05 · 10-Q 2025-08-06 · 10-Q 2025-02-05 · 10-K 2025-05-21
Rated on July 27, 2026 · How the Rating Is Built
Growth
Growth Score
Ten checks against the annual reports — each one passed counts a point.
- Revenue grows by more than 15% a year over three years 10.9%
- More than 10% revenue growth is expected for the coming year 9.8%
- Share count grows by less than 3% a year -1.5%
- Revenue growth plus cash-flow margin add up to at least 40 ("Rule of 40") 29.7%
- Gross margin at 40% or higher and without meaningful erosion 70.7%
- Goodwill from acquisitions does not grow faster than revenue 38.8%
- Net debt below twice EBITDA 357 m net cash
- Operating cash flow covers the profits of the last three years 275 m
- Return on capital at 15% or higher, or up versus two years ago 8.6%
- Insiders hold at least 10% or are net buyers 4.5%
A criterion without figures counts neither as passed nor as failed; a score is only produced from 7 judgeable criteria upwards. Source: fundamental data. All ten criteria in detail
Quality check
AAQS
6/10The AAQS (AlleAktien Quality Score) checks 10 quality criteria on growth, profitability, and balance-sheet strength — per the methodology developed and published by AlleAktien, calculated by us from our own fundamental data. A stock counts as a quality stock from 9 out of 10 points. Where a company has a shorter listing history, we calculate over the fiscal years available (at least five).
- Sales growth 10Y > 5% -0.9%
- Exp. sales growth 3Y > 5% 9.5%
- EBIT growth 10Y > 5% 21.2%
- Exp. EBIT growth 3Y > 5% 22.4%
- Net debt < 4x EBIT -4.0x
- EBIT positive, 10Y straight 5
- Max. EBIT decline < 50% 100.0%
- Return on equity > 15% 31.7%
- ROCE > 15% 8.6%
- Expected return > 10% 31.4%
View stocks with the full AAQS score · Read the methodology at AlleAktien
Source: fundamental data
Insiders
Insider Transactions
Reportable transactions by officers and major shareholders from SEC Form 4 filings. "Other" includes things like stock grants and option exercises without a buy/sell character.
| Date | Person | Role | Type | Shares | Price | Value |
|---|---|---|---|---|---|---|
| Aug 22, 2026 | Karasick Matthew | CHIEF PRODUCT OFFICER | Other | 560 | 37.58 | 21,045 |
| Aug 22, 2026 | Karasick Matthew | CHIEF PRODUCT OFFICER | Other | 763 | 37.58 | 28,674 |
| Aug 22, 2026 | Karasick Matthew | CHIEF PRODUCT OFFICER | Other | 1,018 | 37.58 | 38,256 |
| Aug 22, 2026 | Sharma Vihan | CHIEF REVENUE OFFICER | Other | 1,815 | 37.58 | 68,208 |
| Aug 22, 2026 | Sharma Vihan | CHIEF REVENUE OFFICER | Other | 1,602 | 37.58 | 60,203 |
| Aug 22, 2026 | Dillard Lauren R | CHIEF FINANCIAL OFFICER | Other | 3,187 | 37.58 | 119,767 |
| Aug 22, 2026 | Dillard Lauren R | CHIEF FINANCIAL OFFICER | Other | 2,609 | 37.58 | 98,046 |
| Aug 22, 2026 | Dillard Lauren R | CHIEF FINANCIAL OFFICER | Other | 2,869 | 37.58 | 107,817 |
| Aug 22, 2026 | Howe Scott E | CHIEF EXECUTIVE OFFICER | Other | 4,636 | 37.58 | 174,221 |
| Aug 22, 2026 | Howe Scott E | CHIEF EXECUTIVE OFFICER | Other | 3,913 | 37.58 | 147,051 |
The company
About the Company
LiveRamp Holdings, Inc., ein Technologieunternehmen, betreibt eine Datenkollaborationsplattform in den USA, Europa, im asiatisch-pazifischen Raum und international.
- Employees
- 1,300
- Headquarters
- San Francisco, CA
- Address
- 225 Bush Street, 94104 San Francisco, United States
- Phone
- 888-987-6764
- Website
- liveramp.com
- IPO Date
- 01/01/1987
- ISIN
- US53815P1084
- Stock Split
- 2:1 on 11/12/1996
- Stock Split
- 2:1 on 01/11/1995
- Stock Split
- 2:1 on 12/01/1992
Management
| Name | Title | Birth Year |
|---|---|---|
| Scott E. Howe | CEO & Director | 1968 |
| Lauren Russi Dillard | Executive VP & CFO | 1987 |
| Gerald C. Jones Esq., J.D. | Executive VP, Chief Ethics & Legal Officer and Secretary | 1956 |
| Vihan Sharma | Chief Revenue Officer | 1979 |
| Matthew Karasick | Chief Product Officer | 1977 |
| Janet Cinfio | Chief Information Officer & Senior VP | – |
| Drew Borst | VP & Head of Investor Relations | – |
| Jessica Shapiro | Chief Marketing Officer | – |
| Stephanie Boman | Chief People Officer | – |
| David Eisenberg | Chief Strategy Officer | – |
Executives per the latest required filings; titles kept in their original language. Source: fundamental data.
Filings
Company Filings (8-K)
An 8-K is the filing a US company must use to disclose material events immediately — takeovers, changes at the top, major contracts or payment troubles, for instance. The links open the original document at the US Securities and Exchange Commission (SEC).
- 08/20/2026 LiveRamp Holdings, Inc. (RAMP): Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers SEC ↗
- 08/17/2026 LiveRamp Holdings, Inc. (RAMP): Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers; Submission of Matters to a Vote of Security Holders; Financial Statements and Exhibits SEC ↗
- 08/10/2026 LiveRamp Holdings, Inc. (RAMP): Other Events SEC ↗
- 08/05/2026 LiveRamp Holdings, Inc. (RAMP): Results of Operations and Financial Condition; Financial Statements and Exhibits SEC ↗
- 07/20/2026 LiveRamp Holdings, Inc. (RAMP): Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers SEC ↗
Data as of: September 17, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.