# RH (RH)

> Source: Nexqual · https://nexqual.com/RH · data as of 2026-10-23 14:44 UTC · cite as "Nexqual, RH (RH), nexqual.com/RH" · informational, not investment advice.

**Price:** USD 136.33 (-2.73% today) · US market open, as of October 23, 2026 at 14:44 UTC; quotes may be delayed. Prev close 140.15 · day 134.94–140.73 · 52w 106.3–239.4 · market cap $2.58B · NYQ

## Key facts
- Last four reported quarters (through Aug 1, 2026): revenue $3.45B, net income $112M (3.2% margin), free cash flow $251M (SEC filings).
- Valuation: P/E 23.1x (avg 55.6x at the last 3 fiscal year-ends), EV/EBITDA 9.6x, net debt $2.24B.
- Insider open-market sales, last ~7 months: 4 Form 4 filings, $22.0M; 4 not under a Rule 10b5-1 plan ($22.0M); 3 by opportunistic insiders (3 outside 10b5-1 plans), 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Insider open-market purchases, last ~7 months: 1 Form 4 filing, $1.8M; 0 by opportunistic insiders, 0 by routine insiders.
- Analysts: Hold (mean 2.65 on a 1–5 scale) (20 analysts), mean target USD 164.41 (range 81–258).
- Total return with dividends: 1Y -24.5% vs S&P 500 +14.5%; 5Y -79.3% vs S&P 500 +77.2%.
- Next earnings: 2026-12-10, EPS estimate USD 0.69, revenue estimate $933M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $3.76B | $3.59B | $3.03B | $3.18B | $3.44B | $3.45B |
| Gross profit | $1.86B | $1.81B | $1.39B | $1.41B | $1.52B | — |
| Operating income | $927M | $722M | $366M | $323M | $387M | $344M |
| Net income | $689M | $529M | $128M | $72.4M | $125M | $112M |
| EPS (diluted) | $22.13 | $19.90 | $5.91 | $3.62 | $6.31 | — |
| Free cash flow | $477M | $230M | -$67.1M | -$214M | $252M | $251M |
| Gross margin | 49.4% | 50.5% | 45.9% | 44.5% | 44.1% | — |
| Operating margin | 24.7% | 20.1% | 12.1% | 10.1% | 11.3% | 10.0% |
| Net margin | 18.3% | 14.7% | 4.2% | 2.3% | 3.6% | 3.2% |
| Revenue growth | +32.0% | -4.5% | -15.6% | +5.0% | +8.1% | — |
| Cash + short-term investments | $2.18B | $1.51B | $124M | $30.4M | $41.2M | — |
| Total debt | $1.99B | $2.43B | $2.41B | $2.60B | $2.40B | — |
Fiscal years end Jan. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Aug 1, 2026)
P/E 23.1x · P/S 0.8x · EV/EBITDA 9.6x · EV/Sales 1.4x · P/FCF 10.3x · P/B 21.4x · FCF yield 9.71% · Earnings yield 4.32% · Net debt $2.24B · EV $4.83B
P/E at fiscal year-ends: Jan 2026 31.5x, Feb 2025 88.9x, Feb 2024 46.5x.

## Insider sales (SEC Form 4, open-market, last ~7 months)
0 of 4 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-09-22 | Demilio Mark S | Director | 1,000 | $132K | 2.6% | No | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-07-10 | Demilio Mark S | Director | 2,445 | $412K | 6% | No | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-07-06…2026-07-08 | Friedman Gary G | CHAIRMAN & CEO | 125,000 | $20.7M | 3.7% | No | Too little history (no open-market trades in 2023 or 2025) |
| 2026-06-16…2026-06-18 | Demilio Mark S | Director | 5,304 | $777K | 11.5% | No | Opportunistic (traded every year 2023–2025, no repeating month) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Insider purchases (SEC Form 4, open-market, last ~7 months)
1 purchase, $1.8M. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.
| Trade date | Insider | Role | Shares | Value | Avg price | Insider type |
|---|---|---|---|---|---|---|
| 2026-06-29 | Alberini Carlos | Director | 11,388 | $1.8M | 160.9 | Too little history (no open-market trades in 2024 or 2025) |

## Analysts
Consensus Hold (mean 2.65 on a 1–5 scale), 20 analysts; mean target USD 164.41 (low 81, high 258).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-20 | Goldman Sachs | Target lowered | Neutral | $164 → $140 |
| 2026-09-28 | Stifel | Target lowered | Hold | $130 → $120 |
| 2026-09-11 | Morgan Stanley | Target lowered | Overweight | $240 → $210 |
| 2026-09-11 | BNP Paribas | Target lowered | Underperform | $90 → $81 |
| 2026-09-11 | Telsey Advisory Group | Target raised | Market Perform | $140 → $155 |
| 2026-09-11 | JP Morgan | Target lowered | Overweight | $212 → $190 |
| 2026-09-11 | TD Cowen | Target lowered | Buy | $220 → $190 |
| 2026-09-11 | Wells Fargo | Target lowered | Overweight | $225 → $175 |
| 2026-09-11 | UBS | Target lowered | Neutral | $155 → $154 |
| 2026-09-11 | B of A Securities | Target lowered | Underperform | $156 → $114 |
| 2026-09-11 | Guggenheim | Reiterated | Buy | $200 |
| 2026-09-11 | Baird | Target lowered | Neutral | $165 → $160 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | -24.5% | -79.3% |
| S&P 500 (SPY) | +14.5% | +77.2% |
| Per year | -24.5% | -27.1% |
| Volatility (annualized) | 61.8% | 63.0% |
| Max drawdown | -52.3% (Jan 2026→Oct 2026) | -82.9% (Nov 2021→Oct 2026) |

## Peers (Specialty Retail)
MNSO (MINISO Group Holding Limited) USD 10.13 -0.83% · BOBS (Bob's Discount Furniture, Inc.) USD 16.1 -1.29% · ASO (Academy Sports and Outdoors, In) USD 59.84 -3.14% · SBH (Sally Beauty Holdings, Inc. (Na) USD 17.04 -3.29% · ARHS (Arhaus, Inc.) USD 11.53 -0.04% · BBWI (Bath & Body Works, Inc.) USD 20.67 -4.31%

## More
Full page: https://nexqual.com/RH · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in RH's own 10-K filed 2026-04-01 (https://www.sec.gov/Archives/edgar/data/1528849/000110465926037992/rh-20260131x10k.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Partner | Member | "As of January 31, 2026, of the remaining seven Member LLCs, we hold a 50 percent membership interest in six of the Member LLCs, and the remaining noncontrolling interest of 50 percent in each Member LLC is held by the sa…" |
| Partner | Aspen | "In fiscal 2022, we entered into additional real estate joint venture transactions with entities affiliated with our Aspen Development Partner with respect to various properties that we expect will ultimately be developed…" |
| Partner | Restoration Hardware | "In May 2022, we entered into an incremental term debt financing (the "Term Loan B-2") in an aggregate principal amount equal to $500 million by means of an amendment to the Term Loan Credit Agreement with RHI as the borr…" |

## Revenue by business segment (quarter ended 2026-08-01)

| Line | Revenue | Share | YoY | Operating income | Op. margin |
|---|---|---|---|---|---|
| RH | $867.3M | 94.0% | +2.4% | $110.9M | 12.8% |
| Waterworks | $54.9M | 6.0% | +4.6% | $10.3M | 18.8% |
| Total revenue | $922.1M | 100% | — | $107.6M | 11.7% |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-10-31) | $0.69 | $3.18 | -78.3% | $933.0M | 17 |
| Next quarter (ends 2027-01-31) | $3.70 | $3.16 | +17.2% | $980.9M | 17 |
| Current fiscal year (ends 2027-01-31) | $5.30 | $4.77 | +11.1% | $3.63B | 19 |
| Next fiscal year (ends 2028-01-31) | $8.48 | $9.27 | -8.5% | $3.97B | 20 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-12-18 (includes earnings 2026-12-10): ±21.6%; earnings reaction alone ±9.1%; last 8 reports averaged ±10.5%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-10-30 | 7 | 78.9% | ±8.9% |
| 2026-11-06 | 14 | 71.5% | ±11.3% |
| 2026-11-13 | 21 | 69.7% | ±13.4% |
| 2026-11-20 | 28 | 64.6% | ±14.3% |
| 2026-11-27 | 35 | 66.5% | ±16.4% |
| 2026-12-04 | 42 | 63.5% | ±17.1% |
| 2026-12-18 | 56 | 69.1% | ±21.6% |
| 2027-01-15 | 84 | 67.8% | ±25.9% |