Rh (RH) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-39.1%

$92.60

vs $152.01 price

Levered DCF

-$109.76

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

1.16

Distress zone

Rating

C+

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	29.9×	106.92×	39.48×	13.88×	12.44×	35.02×	18.07×	23.92×
P/B	61.53×	-47.36×	-16.94×	9.35×	7.32×	21.3×	213.58×	-93.1×
P/S	1.08×	2.44×	1.66×	2.04×	2.28×	3.34×	1.5×	1.44×
EV / EBITDA	14.16×	25.71×	16.49×	12.36×	9.22×	18.04×	11.08×	14.11×
Gross margin	44.1%	44.5%	45.9%	50.5%	49.4%	46.5%	41.4%	39.9%
Operating margin	11.3%	11.6%	12.0%	20.8%	24.8%	17.1%	14.0%	10.4%
Net margin	3.6%	2.3%	4.2%	14.7%	18.3%	9.5%	8.3%	6.0%
Current ratio	1.19×	1.39×	1.23×	2.81×	2.89×	0.85×	0.59×	0.69×
Debt / equity	65.5×	-24.07×	-12.5×	4.78×	2.94×	3.63×	100.16×	-49.12×
Interest coverage	1.72×	1.57×	1.53×	4.92×	13.95×	6.91×	4.2×	3.8×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	205.9%	-44.3%	-42.9%	67.4%	58.8%	60.8%	1181.6%	-389.3%
Return on invested capital	7.1%	9.1%	8.6%	16.4%	16.9%	16.9%	16.0%	11.4%
Return on assets	2.6%	1.6%	3.1%	10.0%	12.4%	9.4%	9.0%	6.2%
Free cash flow yield	6.8%	-2.8%	-1.3%	3.1%	5.6%	4.1%	6.2%	4.7%
Earnings yield	3.3%	0.9%	2.5%	7.2%	8.0%	2.9%	5.5%	4.2%
Enterprise value	$7.7B	$11.7B	$8.6B	$9.6B	$9.8B	$11B	$5.8B	$5.5B
Net debt / EBITDA	7.26×	8.62×	6.86×	2.89×	1.18×	2.49×	3.48×	4.86×
Cash conversion cycle (days)	131	177	142	145	106	89	70	101