RH Financials
RH (RH) reported $3.4B in revenue for fiscal year 2025, up 8.1% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Cash generation has recovered faster than profits, while thin equity leaves the balance sheet highly sensitive to financing demands
Cash conversion improved sharply: FY2025 operating cash flow reached$452M against net income of$125M , indicating that reported earnings understated the cash produced during the year. Free cash flow also recovered to$252M after FY2024's-$214M , so the earnings rebound is supported by cash generation rather than accounting profit alone.
Revenue recovered to
Equity moved from
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of RH's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
RH has an operating margin of 11.3%, meaning the company retains $11 of operating profit per $100 of revenue. This strong profitability earns a score of 69/100, reflecting efficient cost management and pricing power. This is up from 10.1% the prior year.
RH's revenue grew 8.1% year-over-year to $3.4B, a solid pace of expansion. This earns a growth score of 56/100.
RH has a moderate D/E ratio of 78.80. This balance of debt and equity financing earns a leverage score of 51/100.
RH's current ratio of 1.19 is below the typical benchmark, resulting in a score of 28/100. This tight liquidity could limit financial flexibility if cash inflows slow.
RH has a free cash flow margin of 7.3%, earning a moderate score of 32/100. The company generates positive cash flow after capital investments, but with room for improvement.
RH earns a strong 205.9% return on equity (ROE), meaning it generates $206 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 67/100.
RH scores 1.28, below the 1.81 distress threshold. This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
RH passes 5 of 8 computable financial strength tests (1 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.
For every $1 of reported earnings, RH generates $3.62 in operating cash flow ($452.2M OCF vs $124.8M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
RH earns $1.70 in operating income for every $1 of interest expense ($387.3M vs $228.2M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
RH generated $3.4B in revenue in fiscal year 2025. This represents an increase of 8.1% from the prior year.
RH's EBITDA was $535.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 18.3% from the prior year.
RH reported $124.8M in net income in fiscal year 2025. This represents an increase of 72.4% from the prior year.
RH earned $6.31 per diluted share (EPS) in fiscal year 2025. This represents an increase of 74.3% from the prior year.
Cash & Balance Sheet
RH generated $252.4M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 218.1% from the prior year.
RH held $41.2M in cash as of fiscal year 2025; long-term debt is not reported for that period.
Not reported for fiscal year 2025.
Margins & Returns
RH's gross margin was 44.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 0.4 percentage points from the prior year.
RH's operating margin was 11.3% in fiscal year 2025, reflecting core business profitability. This is up 1.1 percentage points from the prior year.
RH's net profit margin was 3.6% in fiscal year 2025, showing the share of revenue converted to profit. This is up 1.3 percentage points from the prior year.
RH's ROE was 205.9% in fiscal year 2025, measuring profit generated per dollar of shareholder equity.
Capital Allocation
RH invested $199.8M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 13.4% from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
RH Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.4B+8.1% | $3.2B+5.0% | $3.0B-15.6% | $3.6B-4.5% | $3.8B+32.0% | $2.8B+7.6% | $2.6B+5.7% | $2.5B+2.7% | $2.4B+14.3% | $2.1B+1.2% | $2.1B+12.9% | $1.9B+20.4% | $1.6B+30.0% | $1.2B+24.5% | $958.1M |
| Cost of Revenue | $1.9B+8.9% | $1.8B+7.7% | $1.6B-7.8% | $1.8B-6.6% | $1.9B+25.0% | $1.5B-1.9% | $1.6B+2.1% | $1.5B-5.0% | $1.6B+10.0% | $1.5B+7.3% | $1.4B+15.3% | $1.2B+18.4% | $994.1M+31.4% | $756.6M+25.7% | $601.7M |
| Gross Profit | $1.5B+7.1% | $1.4B+1.9% | $1.4B-23.3% | $1.8B-2.3% | $1.9B+40.0% | $1.3B+21.1% | $1.1B+11.1% | $985.6M+17.4% | $839.3M+23.5% | $679.8M-9.7% | $752.7M+9.0% | $690.8M+24.0% | $556.9M+27.6% | $436.4M+22.5% | $356.3M |
| SG&A Expenses | $1.1B+3.3% | $1.1B+6.8% | $1.0B-6.1% | $1.1B+17.4% | $928.2M+8.1% | $858.7M+17.3% | $732.2M+1.2% | $723.8M+0.2% | $722.2M+15.2% | $626.8M+10.5% | $567.1M+8.0% | $525.0M+4.6% | $502.0M-0.7% | $505.5M+53.4% | $329.5M |
| Operating Income | $387.3M+20.1% | $322.6M-11.9% | $366.1M-49.3% | $722.2M-22.1% | $927.2M+98.6% | $466.9M+28.7% | $362.8M+38.6% | $261.7M+123.5% | $117.1M+120.8% | $53.0M-71.4% | $185.6M+12.0% | $165.7M+202.1% | $54.9M+179.5% | -$69.0M-357.2% | $26.8M |
| Interest Expense | $228.2M-2.7% | $234.5M-1.4% | $237.9M+56.8% | $151.7M+126.9% | $66.9M-3.4% | $69.3M-20.6% | $87.2M+28.6% | $67.8M+21.0% | $56.0M+25.9% | $44.5M+24.7% | $35.7M+103.3% | $17.6M+206.1% | $5.7M-0.7% | $5.8M+12.5% | $5.1M |
| Income Tax | $47.2M+882.7% | $4.8M-83.0% | $28.3M+130.9% | -$91.4M-168.4% | $133.6M+27.7% | $104.6M+114.3% | $48.8M+93.4% | $25.2M+0.4% | $25.1M+697.1% | $3.2M-94.6% | $58.8M+2.8% | $57.2M+84.9% | $30.9M+149.9% | -$62.0M-5632.8% | $1.1M |
| Net Income | $124.8M+72.4% | $72.4M-43.3% | $127.6M-75.9% | $528.6M-23.2% | $688.5M+153.3% | $271.8M+23.3% | $220.4M+62.4% | $135.7M+5322.4% | -$2.6M-148.1% | $5.4M-94.1% | $91.1M+0.1% | $91.0M+400.1% | $18.2M+242.3% | -$12.8M-162.1% | $20.6M |
| EPS (Diluted) | $6.31+74.3% | $3.62-38.7% | $5.91-70.3% | $19.90-10.1% | $22.13+122.2% | $9.96+9.8% | $9.07+77.1% | $5.12+5220.0% | -$0.10 | $0.13-94.0% | $2.16-1.8% | $2.20+388.9% | $0.45 | -$1.36 | N/A |
Not reported in any period shown, so not listed: R&D Expenses.
RH Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $4.8B+6.2% | $4.6B+9.9% | $4.1B-22.0% | $5.3B-4.2% | $5.5B+91.2% | $2.9B+18.5% | $2.4B+0.9% | $2.4B+39.8% | $1.7B-21.0% | $2.2B+6.0% | $2.1B+35.5% | $1.5B+48.9% | $1.0B+29.8% | $789.6M+34.6% | $586.8M |
| Current Assets | $1.1B-14.2% | $1.3B+17.2% | $1.1B-56.1% | $2.5B-18.7% | $3.1B+285.7% | $801.5M+34.3% | $597.0M-15.2% | $704.0M+9.2% | $644.9M-43.3% | $1.1B-12.1% | $1.3B+46.5% | $884.3M+44.1% | $613.8M+24.6% | $492.8M+52.6% | $322.9M |
| Cash & Equivalents | $41.2M+35.4% | $30.4M-75.4% | $123.7M-91.8% | $1.5B-30.8% | $2.2B+2068.2% | $100.4M+110.8% | $47.7M+721.3% | $5.8M-67.6% | $17.9M-79.4% | $87.0M-73.7% | $331.5M+127.5% | $145.7M+988.1% | $13.4M+60.3% | $8.4M-1.9% | $8.5M |
| Accounts Receivable | $63.4M-0.1% | $63.5M+15.3% | $55.1M-7.9% | $59.8M+3.2% | $57.9M-2.6% | $59.5M+21.4% | $49.0M+21.8% | $40.2M+28.1% | $31.4M-8.1% | $34.2M+19.7% | $28.6M+10.0% | $26.0M+17.9% | $22.0M+29.3% | $17.0M+44.9% | $11.8M |
| Goodwill | $144.2M+2.3% | $140.9M-0.1% | $141.0M0.0% | $141.0M0.0% | $141.1M0.0% | $141.1M+13.5% | $124.4M0.0% | $124.4M-12.3% | $141.9M-18.3% | $173.6M+39.7% | $124.3M-0.1% | $124.4M+1.6% | $122.4M-0.1% | $122.6M0.0% | $122.6M |
| Total Liabilities | $4.8B+1.2% | $4.7B+6.2% | $4.4B-1.8% | $4.5B+3.5% | $4.4B+78.3% | $2.5B+1.0% | $2.4B-1.4% | $2.5B+41.5% | $1.7B+36.7% | $1.3B+7.7% | $1.2B+43.6% | $823.1M+71.5% | $479.8M+42.0% | $338.0M+0.5% | $336.3M |
| Current Liabilities | $930.6M+2.8% | $905.1M+3.7% | $872.9M-1.5% | $886.0M-16.7% | $1.1B+15.4% | $921.6M-6.2% | $982.9M-1.0% | $992.6M+91.1% | $519.3M+24.8% | $416.2M-4.1% | $434.1M+26.1% | $344.3M+8.5% | $317.4M+44.7% | $219.4M+35.5% | $162.0M |
| Long-Term Debt | N/A | N/A | N/A | N/A | $1.1M-92.3% | $14.6M-52.9% | $31.1M | N/A | $79.5M | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $60.6M+137.0% | -$163.6M+45.0% | -$297.4M-137.9% | $784.7M-33.0% | $1.2B+161.8% | $447.0M+2296.8% | $18.7M+148.2% | -$38.7M-374.4% | -$8.2M-100.9% | $923.8M+4.3% | $886.2M+26.1% | $702.9M+28.9% | $545.3M+20.7% | $451.6M+80.3% | $250.5M |
| Retained Earnings | -$386.1M+24.4% | -$510.9M+12.4% | -$583.3M-208.0% | $540.0M-2.0% | $551.1M+501.0% | -$137.4M+66.4% | -$409.3M-4.3% | -$392.5M-357.6% | $152.4M+1.5% | $150.2M+3.7% | $144.8M+169.6% | $53.7M+244.0% | -$37.3M+32.8% | -$55.5M-30.0% | -$42.7M |
Not reported in any period shown, so not listed: Inventory.
RH Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $452.2M+2545.5% | $17.1M-91.5% | $202.2M-49.9% | $403.7M-39.0% | $662.1M+32.2% | $500.8M+47.6% | $339.2M+35.9% | $249.6M-47.4% | $474.5M+489.4% | $80.5M-36.5% | $126.7M+59.9% | $79.2M-9.5% | $87.5M+2365.0% | -$3.9M-122.6% | $17.1M |
| Capital Expenditures | $199.8M-13.4% | $230.8M-14.3% | $269.4M+55.1% | $173.6M-6.3% | $185.4M+66.8% | $111.1M+18.7% | $93.6M+17.0% | $80.0M+17.0% | $68.4M-59.8% | $170.0M+42.3% | $119.5M+8.2% | $110.4M+17.6% | $93.9M+91.3% | $49.1M+91.7% | $25.6M |
| Free Cash Flow | $252.4M+218.1% | -$213.7M-218.3% | -$67.1M-129.2% | $230.0M-51.7% | $476.7M+22.4% | $389.6M+58.7% | $245.6M+44.8% | $169.6M-58.2% | $406.1M+553.7% | -$89.5M-1335.9% | $7.2M+123.3% | -$31.1M-390.2% | -$6.3M+88.0% | -$52.9M-524.7% | -$8.5M |
| Investing Cash Flow | -$223.7M+7.0% | -$240.4M+21.8% | -$307.4M-79.7% | -$171.1M+12.0% | -$194.4M+1.6% | -$197.6M-61.2% | -$122.5M-53.2% | -$80.0M-165.3% | $122.5M+139.5% | -$310.5M | N/A | N/A | -$93.9M-90.1% | -$49.4M-92.9% | -$25.6M |
| Financing Cash Flow | -$219.4M-268.0% | $130.6M+110.2% | -$1.3B-42.2% | -$902.5M-156.2% | $1.6B+758.9% | -$243.9M-39.5% | -$174.8M+7.5% | -$189.0M+72.5% | -$686.9M-30553.3% | -$2.2M | N/A | N/A | $11.5M-78.3% | $53.1M+1473.8% | $3.4M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $0 | $0 | $0 | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | $12.0M-99.0% | $1.3B+25.3% | $1.0B | N/A | N/A | $250.0M0.0% | $250.0M-75.0% | $1.0B | N/A | N/A | N/A | $2.7M | N/A | N/A |
RH Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 | FY16 | FY15 | FY14 | FY13 | FY12 | FY11 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 44.1%-0.4pp | 44.5%-1.4pp | 45.9%-4.6pp | 50.5%+1.1pp | 49.4%+2.8pp | 46.5%+5.2pp | 41.4%+2.0pp | 39.3%+4.9pp | 34.4%+2.6pp | 31.8%-3.8pp | 35.7%-1.3pp | 37.0%+1.1pp | 35.9%-0.7pp | 36.6%-0.6pp | 37.2% |
| Operating Margin | 11.3%+1.1pp | 10.1%-1.9pp | 12.1%-8.0pp | 20.1%-4.6pp | 24.7%+8.3pp | 16.4%+2.7pp | 13.7%+3.3pp | 10.4%+5.6pp | 4.8%+2.3pp | 2.5%-6.3pp | 8.8%-0.1pp | 8.9%+5.3pp | 3.5%+9.3pp | -5.8%-8.6pp | 2.8% |
| Net Margin | 3.6%+1.3pp | 2.3%-1.9pp | 4.2%-10.5pp | 14.7%-3.6pp | 18.3%+8.8pp | 9.5%+1.2pp | 8.3%+2.9pp | 5.4%+5.5pp | -0.1%-0.4pp | 0.3%-4.1pp | 4.3%-0.5pp | 4.9%+3.7pp | 1.2%+2.2pp | -1.1%-3.2pp | 2.1% |
| Return on Equity | 205.9% | N/A | N/A | 67.4%+8.5pp | 58.8%-2.0pp | 60.8%-1120.8pp | 1181.6% | N/A | N/A | 0.6%-9.7pp | 10.3%-2.7pp | 13.0%+9.6pp | 3.3%+6.2pp | -2.8%-11.0pp | 8.2% |
| Return on Assets | 2.6%+1.0pp | 1.6%-1.5pp | 3.1%-6.9pp | 10.0%-2.5pp | 12.4%+3.0pp | 9.4%+0.4pp | 9.0%+3.4pp | 5.6%+5.8pp | -0.1%-0.4pp | 0.3%-4.2pp | 4.4%-1.6pp | 6.0%+4.2pp | 1.8%+3.4pp | -1.6%-5.1pp | 3.5% |
| Current Ratio | 1.19-0.2x | 1.43+0.2x | 1.26-1.6x | 2.84-0.1x | 2.91+2.0x | 0.87+0.3x | 0.61-0.1x | 0.71-0.5x | 1.24-1.5x | 2.74-0.2x | 2.98+0.4x | 2.57+0.6x | 1.93-0.3x | 2.25+0.3x | 1.99 |
| Debt-to-Equity | 78.80 | N/A | N/A | 5.77+5.8x | 0.000.0x | 0.03-1.6x | 1.67 | N/A | N/A | 1.380.0x | 1.33+0.2x | 1.17+0.3x | 0.88+0.1x | 0.75-0.6x | 1.34 |
| FCF Margin | 7.3%+14.1pp | -6.7%-4.5pp | -2.2%-8.6pp | 6.4%-6.3pp | 12.7%-1.0pp | 13.7%+4.4pp | 9.3%+2.5pp | 6.8%-9.9pp | 16.6%+20.8pp | -4.2%-4.5pp | 0.3%+2.0pp | -1.7%-1.3pp | -0.4%+4.0pp | -4.4%-3.6pp | -0.9% |
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Where RH Ranks
Frequently Asked Questions
What is RH's annual revenue?
RH (RH) reported $3.4B in total revenue for fiscal year 2025. This represents a 8.1% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is RH's revenue growing?
RH (RH) revenue grew by 8.1% year-over-year, from $3.2B to $3.4B in fiscal year 2025.
Is RH profitable?
Yes, RH (RH) reported a net income of $124.8M in fiscal year 2025, with a net profit margin of 3.6%.
What is RH's EBITDA?
RH (RH) had EBITDA of $535.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is RH's gross margin?
RH (RH) had a gross margin of 44.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is RH's operating margin?
RH (RH) had an operating margin of 11.3% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is RH's net profit margin?
RH (RH) had a net profit margin of 3.6% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is RH's return on equity (ROE)?
RH (RH) has a return on equity of 205.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is RH's free cash flow?
RH (RH) generated $252.4M in free cash flow during fiscal year 2025. This represents a 218.1% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is RH's operating cash flow?
RH (RH) generated $452.2M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are RH's total assets?
RH (RH) had $4.8B in total assets as of fiscal year 2025, including both current and long-term assets.
What are RH's capital expenditures?
RH (RH) invested $199.8M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is RH's current ratio?
RH (RH) had a current ratio of 1.19 as of fiscal year 2025, which is considered adequate.
What is RH's debt-to-equity ratio?
RH (RH) had a debt-to-equity ratio of 78.80 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is RH's return on assets (ROA)?
RH (RH) had a return on assets of 2.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is RH's Altman Z-Score?
RH (RH) has an Altman Z-Score of 1.28, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is RH's Piotroski F-Score?
RH (RH) has a Piotroski F-Score of 5 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are RH's earnings high quality?
RH (RH) has an earnings quality ratio of 3.62x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can RH cover its interest payments?
RH (RH) has an interest coverage ratio of 1.70x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is RH?
RH (RH) scores 51 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.