Rh
- Open
- 165.93
- Day high
- 170.50
- Day low
- 164.33
- Prev close
- 161.82
- Volume
- 257K
- Mkt cap
- $3.2B
- P/E (TTM)
- 31.0
- EPS (TTM)
- $5.49
- P/B
- 56.5
- P/S
- 0.9
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$19.6M over the last 3 months (3 open-market buys, 13 sales)
- 🏛Institutions mixed (13F)
Rh (RH) is a Consumer Cyclical company listed on NYSE. The stock is down 20% over the past year. Over the trailing 3 months, insiders filed 3 open-market buys and 13 sales (SEC Form 4).
Rh (RH) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 7 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
RH earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Jun 11, 2026 | $-2.12 | $-1.97 | +7.1% | $800M | +1.0% |
| Mar 31, 2026 | $2.21 | $1.53 | -30.8% | $843M | -3.5% |
| Dec 11, 2025 | $2.12 | $1.71 | -19.3% | $884M | +0.0% |
| Sep 11, 2025 | $3.19 | $2.93 | -8.2% | $899M | -0.1% |
| Jun 12, 2025 | $-0.09 | $0.13 | +243.1% | $814M | -0.6% |
| Dec 12, 2024 | $2.66 | $2.48 | -6.8% | $812M | -0.1% |
| Sep 12, 2024 | $1.56 | $1.69 | +8.3% | $830M | +0.6% |
| Jun 13, 2024 | $-0.13 | $-0.40 | -211.5% | $727M | +0.2% |
| Dec 7, 2023 | $0.91 | $-0.42 | -146.2% | $751M | -3.6% |
| Sep 7, 2023 | $2.56 | $3.93 | +53.5% | $800M | +2.0% |
| May 25, 2023 | $2.09 | $2.21 | +5.7% | $739M | -4.2% |
| Dec 8, 2022 | $4.72 | $5.67 | +20.1% | $869M | +3.5% |
RH insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 8, 2026 | FRIEDMAN GARY Gdirector, 10 percent owner, officer: CHAIRMAN & CEO | Sell | 3,216 | $155.65 |
| Jul 8, 2026 | FRIEDMAN GARY Gdirector, 10 percent owner, officer: CHAIRMAN & CEO | Sell | 29,798 | $170.07 |
| Jul 8, 2026 | FRIEDMAN GARY Gdirector, 10 percent owner, officer: CHAIRMAN & CEO | Sell | 39,271 | $169.04 |
| Jul 8, 2026 | FRIEDMAN GARY Gdirector, 10 percent owner, officer: CHAIRMAN & CEO | Sell | 400 | $156.66 |
| Jul 8, 2026 | FRIEDMAN GARY Gdirector, 10 percent owner, officer: CHAIRMAN & CEO | Sell | 6,833 | $158.92 |
| Jul 8, 2026 | FRIEDMAN GARY Gdirector, 10 percent owner, officer: CHAIRMAN & CEO | Sell | 5,399 | $157.92 |
| Jul 8, 2026 | FRIEDMAN GARY Gdirector, 10 percent owner, officer: CHAIRMAN & CEO | Sell | 7,298 | $170.06 |
| Jul 8, 2026 | FRIEDMAN GARY Gdirector, 10 percent owner, officer: CHAIRMAN & CEO | Sell | 395 | $171.11 |
| Jul 8, 2026 | FRIEDMAN GARY Gdirector, 10 percent owner, officer: CHAIRMAN & CEO | Sell | 24,370 | $159.97 |
| Jul 8, 2026 | FRIEDMAN GARY Gdirector, 10 percent owner, officer: CHAIRMAN & CEO | Sell | 2,123 | $160.57 |
| Jul 8, 2026 | FRIEDMAN GARY Gdirector, 10 percent owner, officer: CHAIRMAN & CEO | Sell | 5,897 | $154.71 |
| Jul 1, 2026 | ALBERINI CARLOSdirector | Buy | 300 | $158.50 |
| Jul 1, 2026 | ALBERINI CARLOSdirector | Buy | 5,502 | $160.58 |
| Jul 1, 2026 | ALBERINI CARLOSdirector | Buy | 5,586 | $161.34 |
| Jun 22, 2026 | ALBERINI CARLOSdirector | Grant | 843 | — |
Source: RH SEC Form 4 filings, latest Jul 8, 2026. For informational purposes only — not investment advice.
See the full RH insider & 13F page →Rh company profile
Overview
RH (NYSE:RH) is a luxury home furnishings retailer that has transformed from a traditional furniture store into an aspirational lifestyle brand. Originally founded as Restoration Hardware in 1979, the company went public in 2012 and rebranded to RH in 2017 to reflect its evolution beyond hardware restoration into a comprehensive luxury home ecosystem. Based in Corte Madera, California, RH operates through an integrated platform of large-format design galleries, catalogs, and e-commerce channels, positioning itself as the premier destination for affluent consumers seeking high-end home furnishings and design services.
Business
RH operates in the luxury home furnishings retail industry, which encompasses furniture, lighting, textiles, bathware, decor, and outdoor living products targeted at affluent consumers. The home furnishings industry is highly fragmented and cyclical, closely tied to housing market conditions, consumer confidence, and discretionary spending patterns. The company's core offering revolves around curated collections of luxury home products presented through multiple channels. RH's signature approach involves creating large-format Design Galleries - expansive showrooms that function more like museums than traditional retail stores, showcasing room vignettes and lifestyle experiences rather than simple product displays. These galleries typically range from 30,000 to 90,000 square feet and are designed to inspire customers and demonstrate the complete RH aesthetic. RH's product portfolio spans several key categories. Furniture and upholstery represents the largest segment, including sofas, chairs, dining sets, bedroom furniture, and case goods. The company also offers lighting solutions ranging from chandeliers to table lamps, textiles including bedding and window treatments, bathware through its Waterworks subsidiary, outdoor and garden furniture and accessories, and specialized children's furnishings through RH Baby & Child and RH Teen. A distinctive aspect of RH's business model is its Source Books - high-quality catalogs that serve both as marketing tools and revenue drivers. These publications, including RH Interiors, RH Modern, RH Outdoor, and specialized books, are mailed to targeted customer segments and drive significant online and in-store traffic. The company has been doubling its catalog circulation as part of its customer acquisition strategy. RH also operates the Waterworks brand, acquired in 2016, which focuses on luxury bath fixtures, fittings, and accessories. Currently generating approximately $200 million in annual revenue, management views Waterworks as having potential to become a billion-dollar brand through expanded distribution within RH galleries and standalone showrooms.
Revenue model
RH generates revenue primarily through direct product sales to consumers via its integrated retail platform. The company operates through three main channels: physical Design Galleries, e-commerce websites (rh.com, rhbabyandchild.com, rhteen.com, rhmodern.com, and waterworks.com), and catalog-driven sales from its Source Books. The customer base consists primarily of affluent homeowners with household incomes typically exceeding $150,000, including high-net-worth individuals, luxury home builders, and interior design professionals. RH has increasingly focused on the trade segment - interior designers and architects who purchase products for their clients - which typically generates higher margins and larger order values. RH's business model is heavily influenced by several key factors that impact profitability. Housing market conditions represent the most significant external driver, as luxury home sales, renovations, and new construction directly correlate with RH's demand patterns. The company has noted that luxury home sales can decline 45% during market downturns, significantly impacting revenue. Product mix and pricing strategy substantially affect margins. RH has been executing a multi-year product transformation, introducing new collections with higher price points and better margins. The company's focus on design, quality, and brand positioning allows it to command premium pricing, though this strategy requires careful balance during economic downturns. Sourcing and supply chain costs impact margins significantly. RH has been proactively diversifying its supply base, moving production from China to the United States and Italy to mitigate tariff risks and improve quality control. Currently, approximately 48% of upholstered furniture is produced domestically, with 21% manufactured in Italy. Gallery expansion and operational leverage drive long-term profitability. New gallery openings require substantial upfront investment but generate increasing returns as they mature and build local market awareness. The company's large-format galleries create significant fixed costs that benefit from revenue growth through operational leverage. Inventory management critically affects cash flow and margins. The luxury furniture business requires substantial working capital for inventory, and demand volatility can lead to markdowns and clearance activities that pressure margins during challenging periods.
Competitive moat
RH's competitive moat stems from its unique positioning as a luxury lifestyle brand rather than a traditional furniture retailer. The company has created a differentiated customer experience through its large-format Design Galleries, which function as destination showrooms that competitors find difficult to replicate due to the substantial real estate investment and operational complexity required. The brand strength and customer loyalty represent significant competitive advantages. RH has cultivated an aspirational brand image that resonates with affluent consumers seeking curated, high-quality home furnishings. The company's Source Books serve as both marketing tools and barriers to entry, requiring substantial investment in photography, production, and distribution that smaller competitors cannot easily match. Scale advantages in sourcing and product development provide another layer of protection. RH's size allows it to work directly with manufacturers to create exclusive products and negotiate favorable terms. The company's ongoing product transformation, with plans to achieve 85% new product assortment by 2025, demonstrates its ability to continuously refresh its offerings and maintain relevance. However, RH's moat faces several challenges. The luxury home furnishings market remains highly competitive, with both traditional retailers and emerging direct-to-consumer brands vying for market share. Companies like West Elm, Pottery Barn, and various high-end boutique retailers compete for similar customer segments. Economic sensitivity represents a significant vulnerability. RH's focus on luxury products makes it highly susceptible to economic downturns, housing market volatility, and changes in consumer discretionary spending. The company's premium pricing strategy, while supporting margins during good times, can lead to significant demand destruction during challenging periods. Execution risk in gallery expansion and international growth could weaken the company's competitive position. RH's strategy relies heavily on successful expansion into new markets, particularly internationally, where brand recognition is limited and local competition may be more entrenched.
Risks & safety
RH's margin of safety appears limited based on current financial metrics and market conditions, presenting elevated risk for investors. **Cash and Solvency Concerns:** - Cash position: $30.4 million (down from $123.7 million in FY 2023) - Negative free cash flow: -$213.7 million for FY 2024 - Total liabilities exceed total assets: $4.7 billion vs $4.6 billion - Current ratio: 1.43 (adequate but declining) - Quick ratio: 0.30 (concerning liquidity position) **Valuation Metrics:** - EV/EBITDA: 25.7x (elevated for cyclical retail) - Negative return on equity: -44.3% - Graham Net-Net: -221.4 (significantly negative) **Other Considerations:** - High leverage with debt-heavy capital structure - Cyclical business model highly sensitive to housing market conditions - Substantial ongoing capital requirements for gallery expansion - Operating in historically challenging housing market environment
Recent development
Over the past few years, RH has executed a comprehensive transformation strategy focused on three key pillars: product elevation, platform expansion, and international growth. The product transformation initiative represents the most significant strategic pivot. RH has been systematically replacing its entire product assortment, targeting 85% new products by the first half of 2025. This includes launching new Source Books with dozens of collections annually - the RH Modern Sourcebook featured 54 new collections, while the upcoming RH Interiors Sourcebook will include 89 new collections. The company has also been expanding its Waterworks brand integration across the RH platform and plans to launch RH Couture Upholstery by Dmitriy & Co., along with a significant new brand extension in fall 2025. Platform expansion has accelerated with aggressive gallery development. In 2024-2025, RH opened multiple flagship locations including RH Newport Beach (90,000 square feet), RH Montecito, and RH Raleigh, while planning seven additional Design Galleries, two Outdoor Galleries, and two New Concept Galleries for 2025. The company also launched its first RH Interior Design Studio in Palm Desert, expanding its service offerings beyond traditional retail. International expansion has become a major strategic focus. RH opened galleries in Brussels and Madrid, with planned flagship locations in Paris (2025), London (2026), and Milan (2026). The company views these European markets as critical for building global brand awareness and expects significant growth once these major metropolitan galleries are operational. Supply chain diversification has been another key development, with RH proactively moving production away from China to mitigate tariff risks. The company now produces 48% of its upholstered furniture domestically and 21% in Italy, providing greater supply chain flexibility and quality control. The company has also implemented significant operational restructuring, including eliminating 440 roles to achieve $50 million in annual cost savings while investing heavily in product development and gallery expansion.
RH company profile · for informational purposes only — not investment advice.
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