RH (RH) intrinsic value & 10-year financials
RH (RH) has a Graham intrinsic value of $209.59 per share. At $112.99 on Oct 17, 2026, the stock trades 46% below that value. Over the last 10 fiscal years revenue grew 5.4% a year to $3.4B, with an average return on invested capital of 71.6%.
- Graham intrinsic value
- $209.59
- Share price (Oct 17, 2026)
- $112.99
- Price vs Graham value
- 46% below
- Market cap
- $2.2B
- Revenue (FY2026)
- $3.4B
- Revenue growth (10-yr CAGR)
- 5.4%
- ROIC (10-yr avg)
- 71.6%
- Free cash flow (FY2026)
- $252.4M
RH 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2026 | $3.4B | $124.8M | $6.31 | $252.4M | 11.3% | 22.9% |
| FY2025 | $3.2B | $72.4M | $3.62 | -$213.7M | 10.1% | 34.9% |
| FY2024 | $3.0B | $127.6M | $5.91 | -$67.1M | 12.1% | 51.7% |
| FY2023 | $3.6B | $528.6M | $19.90 | $230.0M | 20.1% | 265.1% |
| FY2022 | $3.8B | $688.5M | $22.13 | $476.7M | 24.7% | 108.9% |
| FY2021 | $2.8B | $271.8M | $9.96 | $389.6M | 16.4% | 30.7% |
| FY2020 | $2.6B | $220.4M | $9.07 | $245.6M | 13.7% | 34.8% |
| FY2019 | $2.5B | $150.6M | $5.68 | $163.8M | 11.5% | 54.0% |
| FY2018 | $2.4B | $2.2M | $0.07 | $444.4M | 5.4% | 108.9% |
| FY2017 | $2.1B | $5.4M | $0.13 | -$77.1M | 2.5% | 3.6% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
RH has demonstrated mature, steady growth, with revenue compounding at 5.4% annually over the past decade.
RH has earned high returns on invested capital, averaging 45.3% ROIC over the available history. High ROIC is consistent with a durable franchise, but it is not by itself proof of an economic moat.
Over the decade, RH shows that management has aggressively returned capital to shareholders by retiring 51.6% of outstanding shares.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, RH is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $209.59 per share.