RH

MKT CAP:$3B

Rh

Market Cap

$3B

Consumer Cyclical·Specialty Retail·🇺🇸 United States·NYSE

Consumer Cyc.·Specialty Retail·🇺🇸·NYSE

Stock Price

$138.09-$55.32 (-28.60%)

Apr 23, 2026

Company Details

RH, together with its subsidiaries, operates as a retailer in the home furnishings. It offers products in various categories, including furniture, lighting, textiles, bathware, decor, outdoor and garden, and child and teen furnishings. The ...

CEO

Gary G. Friedman

IPO Date

Nov 2, 2012

Website

www.rh.com

Key Metrics TTM

Revenue

$3.4B

+8.1% YoY

Net Income

$125M

EPS (Diluted)

$6.31

Free Cash Flow

$250M

Revenue / Share

$174.53

Gross Margin

44.1%

Operating Margin

11.4%

Net Margin

3.6%

FCF Margin

7.3%

P/S

0.8x

P/E

20.7x

Earnings Reports

FY 2025

Mar 31, 2026

$3.4B+8.1%EPS $6.31

Q4 2025

Mar 31, 2026

$843M+3.7%EPS $1.46

Q3 2025

Dec 11, 2025

$884M+8.9%EPS $1.83

Q2 2025

Sep 11, 2025

$899M+8.4%EPS $2.62

Q1 2025

Jun 12, 2025

$814M+12.0%EPS $0.40

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$957M	$499M	$210M
Q2 22	$992M	$523M	$236M
Q3 22	$869M	$421M	$176M
Q4 22	$772M	$369M	$116M
Q1 23	$739M	$348M	$105M
Q2 23	$800M	$380M	$158M
Q3 23	$751M	$340M	$53M
Q4 23	$738M	$321M	$64M
Q1 24	$727M	$316M	$63M
Q2 24	$830M	$375M	$95M
Q3 24	$812M	$361M	$120M
Q4 24	$812M	$363M	$90M
Q1 25	$814M	$355M	$55M
Q2 25	$899M	$409M	$134M
Q3 25	$884M	$390M	$105M
Q4 25	$843M	$361M	$97M

Valuation

Quarter	P/S	P/E
Q1 22	2.4x	12.3x
Q2 22	1.7x	10.2x
Q3 22	1.6x	10.4x
Q4 22	1.9x	12.7x
Q1 23	1.6x	14.7x
Q2 23	2.2x	22.0x
Q3 23	1.3x	17.7x
Q4 23	1.6x	39.1x
Q1 24	1.7x	62.5x
Q2 24	1.5x	131.3x
Q3 24	2.0x	87.1x
Q4 24	2.3x	101.1x
Q1 25	1.1x	41.3x
Q2 25	1.2x	38.0x
Q3 25	0.9x	29.0x
Q4 25	1.1x	29.4x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$136M	$107M
Q2 22	$57M	$23M
Q3 22	$144M	$96M
Q4 22	$68M	$4M
Q1 23	$87M	$53M
Q2 23	$162M	$114M
Q3 23	$68M	$18M
Q4 23	-$114M	-$251M
Q1 24	$56M	-$10M
Q2 24	$11M	-$38M
Q3 24	-$31M	-$96M
Q4 24	-$19M	-$70M
Q1 25	$95M	$42M
Q2 25	$130M	$73M
Q3 25	$132M	$83M
Q4 25	$96M	$52M

Capital Expenditures

Quarter	CapEx
Q1 22	$29M
Q2 22	$33M
Q3 22	$47M
Q4 22	$64M
Q1 23	$34M
Q2 23	$47M
Q3 23	$50M
Q4 23	$138M
Q1 24	$66M
Q2 24	$49M
Q3 24	$65M
Q4 24	$51M
Q1 25	$53M
Q2 25	$57M
Q3 25	$49M
Q4 25	$44M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	+11.2%	+10.8%
Q2 22	+0.3%	+3.1%
Q3 22	-13.6%	-5.7%
Q4 22	-14.4%	-4.0%
Q1 23	-22.8%	-15.2%
Q2 23	-19.3%	-15.0%
Q3 23	-13.6%	+0.7%
Q4 23	-4.4%	+2.8%
Q1 24	-1.7%	+4.7%
Q2 24	+3.6%	+14.3%
Q3 24	+8.1%	-0.9%
Q4 24	+10.0%	+7.1%
Q1 25	+12.0%	+14.4%
Q2 25	+8.4%	+4.1%
Q3 25	+8.9%	+12.6%
Q4 25	+3.7%	+3.3%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$0	0.0%
Q2 22	$0	0.0%
Q3 22	$0	0.0%
Q4 22	$0	0.0%
Q1 23	$0	0.0%
Q2 23	$0	0.0%
Q3 23	$10M	1.3%
Q4 23	$11M	1.5%
Q1 24	$11M	1.5%
Q2 24	$12M	1.4%
Q3 24	$12M	1.4%
Q4 24	$10M	1.3%
Q1 25	$0	0.0%
Q2 25	$0	0.0%
Q3 25	$0	0.0%
Q4 25	$9M	1.0%

OpEx Breakdown

Quarter	SG&A
Q1 22	$289M
Q2 22	$288M
Q3 22	$245M
Q4 22	$253M
Q1 23	$242M
Q2 23	$222M
Q3 23	$287M
Q4 23	$257M
Q1 24	$253M
Q2 24	$280M
Q3 24	$242M
Q4 24	$273M
Q1 25	$301M
Q2 25	$276M
Q3 25	$285M
Q4 25	$265M

Revenue Segments

Quarter	Furniture	Non-furniture	RH Segment	Waterworks
Q1 22	$663M	$295M	—	—
Q2 22	$700M	$292M	—	—
Q3 22	$598M	$272M	—	—
Q1 23	$496M	$243M	—	—
Q2 23	$561M	$240M	—	—
Q3 23	$519M	$232M	—	—
Q1 24	$505M	$222M	—	—
Q2 24	$594M	$236M	—	—
Q3 24	$580M	$232M	—	—
Q1 25	—	—	$765M	$49M
Q2 25	—	—	$847M	$52M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$2.2B	$0	$2.2B
Q2 22	$2.1B	$0	$2.1B
Q3 22	$2.2B	$0	$2.2B
Q4 22	$1.5B	$0	$1.5B
Q1 23	$1.5B	$0	$1.5B
Q2 23	$421M	$0	$421M
Q3 23	$383M	$0	$383M
Q4 23	$124M	$0	$124M
Q1 24	$102M	$0	$102M
Q2 24	$78M	$0	$78M
Q3 24	$87M	$0	$87M
Q4 24	$30M	$0	$30M
Q1 25	$46M	$0	$46M
Q2 25	$35M	$0	$35M
Q3 25	$43M	$0	$43M
Q4 25	$41M	$0	$41M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	28M	-7.2%	-10.9%
Q2 22	27M	-3.1%	-15.8%
Q3 22	26M	-3.1%	-16.6%
Q4 22	25M	-2.6%	-15.2%
Q1 23	24M	-6.5%	-14.6%
Q2 23	23M	-4.3%	-15.6%
Q3 23	18M	-19.2%	-29.6%
Q4 23	20M	+8.3%	-21.7%
Q1 24	18M	-7.9%	-22.9%
Q2 24	20M	+8.9%	-12.2%
Q3 24	20M	+0.1%	+8.8%
Q4 24	20M	+0.5%	+0.9%
Q1 25	20M	-0.9%	+8.7%
Q2 25	20M	-0.9%	-1.1%
Q3 25	20M	+0.4%	-0.9%
Q4 25	20M	-0.5%	-1.9%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$147.3K	7K
Q2 22	$152.6K	7K
Q3 22	$133.7K	7K
Q4 22	$118.8K	7K
Q1 23	$113.7K	7K
Q2 23	$123.2K	7K
Q3 23	$115.6K	7K
Q4 23	$113.6K	7K
Q1 24	$111.8K	7K
Q2 24	$127.6K	7K
Q3 24	$124.9K	7K
Q4 24	$125.0K	7K
Q1 25	$125.2K	7K
Q2 25	$138.3K	7K
Q3 25	$136.0K	7K
Q4 25	$129.6K	7K

Revenue / Employee