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Specialty retail · Consumer Cyclical · Fiscal year ends Jan 31
RH reported revenue of $3.4B in the fiscal year ended Jan 2026, up 8.1% from the year before. Operating income was $387M, an operating margin of 11.3%, and net income was $125M. Operating cash flow of $452M less capital expenditure of $200M left free cash flow of $252M. Net debt was $2.4B.
Ranks among the 14 specialty retail companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Jan 2022 | Jan 2023 | Feb 2024 | Feb 2025 | Jan 2026 |
|---|---|---|---|---|---|
| Revenue | 3,759 | 3,590 | 3,029 | 3,181 | 3,440 |
| Cost of revenue | 1,903 | 1,778 | 1,640 | 1,766 | 1,924 |
| Gross profit | 1,855 | 1,812 | 1,389 | 1,415 | 1,516 |
| Selling, general & admin | 928 | 1,090 | 1,023 | 1,092 | 1,128 |
| Operating income | 927 | 722 | 366 | 323 | 387 |
| Net interest incomeBanks | −64.9 | −113 | −198 | – | – |
| Interest expense | 66.9 | 152 | 238 | 235 | 228 |
| Pre-tax income | 822 | 437 | 156 | 77.2 | 167 |
| Income tax | 134 | −91.4 | 28.3 | 4.8 | 47.2 |
| Net income | 689 | 529 | 128 | 72.4 | 125 |
| Diluted EPS | 22.13 | 19.90 | 5.91 | 3.62 | 6.31 |
| Diluted shares | 31.1 | 26.6 | 21.6 | 20.0 | 19.8 |
| Fiscal year | Jan 2022 | Jan 2023 | Feb 2024 | Feb 2025 | Jan 2026 |
|---|---|---|---|---|---|
| Cash & equivalents | 2,178 | 1,508 | 124 | 30.4 | 41.2 |
| Receivables | 57.9 | 59.8 | 55.1 | 63.5 | 63.4 |
| Current assets | 3,091 | 2,513 | 1,102 | 1,291 | 1,108 |
| Net PP&E | 1,228 | 1,636 | 1,686 | 1,883 | 2,159 |
| Goodwill | 141 | 141 | 141 | 141 | 144 |
| Total assets | 5,540 | 5,309 | 4,144 | 4,555 | 4,836 |
| Payables | 242 | 166 | 192 | 245 | 198 |
| Deferred revenue | – | – | 283 | 292 | 339 |
| Current liabilities | 1,064 | 886 | 873 | 905 | 931 |
| Short-term debt | 13.6 | 1.2 | – | – | – |
| Long-term debt | 1.1 | 2,431 | 2,414 | 2,596 | 2,399 |
| Total liabilities | 4,370 | 4,525 | 4,441 | 4,718 | 4,775 |
| Shareholders' equity | 1,170 | 785 | −297 | −164 | 60.6 |
| Fiscal year | Jan 2022 | Jan 2023 | Feb 2024 | Feb 2025 | Jan 2026 |
|---|---|---|---|---|---|
| Operating cash flow | 662 | 404 | 202 | 17.1 | 452 |
| Capital expenditure | 185 | 174 | 269 | 231 | 200 |
| Free cash flow | 477 | 230 | −67.1 | −214 | 252 |
| Depreciation & amortisation | 96.0 | 109 | 119 | 130 | 149 |
| Stock-based compensation | 48.5 | 43.5 | 39.4 | 44.2 | 43.9 |
| Share buybacks | – | 1,000 | 1,253 | 12.0 | – |
| Fiscal year | Jan 2022 | Jan 2023 | Feb 2024 | Feb 2025 | Jan 2026 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | −4.5% | −15.6% | 5.0% | 8.1% |
| Operating income growth (YoY) | – | −22.1% | −49.3% | −11.9% | 20.1% |
| EPS growth (YoY) | – | −10.1% | −70.3% | −38.7% | 74.3% |
| Gross margin | 49.4% | 50.5% | 45.9% | 44.5% | 44.1% |
| Operating margin | 24.7% | 20.1% | 12.1% | 10.1% | 11.3% |
| Net margin | 18.3% | 14.7% | 4.2% | 2.3% | 3.6% |
| Return on equityBlank when equity is negative | 58.8% | 67.4% | – | – | 205.9% |
| ROCEEBIT ÷ (assets − current liabilities) | 20.7% | 16.3% | 11.2% | 8.8% | 9.9% |
| Free cash flow margin | 12.7% | 6.4% | −2.2% | −6.7% | 7.3% |
| Cash conversion (CFO ÷ net income) | 0.96x | 0.76x | 1.59x | 0.24x | 3.62x |
| Receivable days | 6 | 6 | 7 | 7 | 7 |
| Payable days | 46 | 34 | 43 | 51 | 38 |
| Interest cover | 13.9x | 4.76x | 1.54x | 1.38x | 1.70x |
| Debt ÷ equity | 0.01x | 3.10x | – | – | 39.6x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | −2,163 | 924 | 2,290 | 2,566 | 2,357 |
| Current ratio | 2.91x | 2.84x | 1.26x | 1.43x | 1.19x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.