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/RH
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RH

RH

RH
$143.34USD↓-6.44%-9.87 today

MARKET CAP

2.7B

P/E (TTM)

43.3x

FWD P/E

27.6x

DAY RANGE

$142 – $155

52W RANGE

$106
$257

AI Summary

Stalk
Sell NowMedium

Price has shifted into structural repair following a bearish pivot point and a series of lower highs and lower lows, confirming resumed downtrend in Stage 4. Currently, the stock is pulling back into the declining 9/20 EMA cluster, which now acts as resistance. This zone provides a clear sell opportunity now, with medium-term bias remaining bearish until price reclaims key EMAs and SMA support.

  • ↑Q1 revenue rose 8% to $800.3 M with a $75 M backlog increase, demonstrating resilient demand.
  • ↑Fiscal 2026 guidance raised: revenue growth of 4.5–8% and Q2 EBITDA margins of 11.5–13%.
  • ↓Weak housing market risks curbing spending on high-ticket luxury furnishings.
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The case for & against

Bull & Bear analysis

Bullish

RH (NYSE: RH), formerly known as Restoration Hardware, is a premier luxury home furnishings retailer specializing in high-quality design and sophisticated decor. The company is committed to elevating the consumer experience through a unique combination of physical showrooms and curated e-commerce solutions, positioning itself as a leading player in the upscale market. RH is actively pursuing international expansions, recently launching flagship galleries in major cities such as Paris and London, aiming to set the standard for luxury home furnishings while maintaining a strong presence in the North American market.

Bull says

  • ↑Q1 revenue rose 8% to $800.3 M with a $75 M backlog increase, demonstrating resilient demand.
  • ↑Fiscal 2026 guidance raised: revenue growth of 4.5–8% and Q2 EBITDA margins of 11.5–13%.
  • ↑Projected free cash flow of $300–$400 M underpins liquidity and supports debt reduction.
  • ↑RH Estates brand extension is expected to add ~500 bps to H2 revenue growth and margins.
  • ↑Flagship galleries in London, Paris, and Milan expand international footprint and brand visibility.
  • ↑High analyst revisions and strong liquidity factors suggest positive price momentum.

Bear says

  • ↓Weak housing market risks curbing spending on high-ticket luxury furnishings.
  • ↓Tariffs expected to reduce EBITDA margins by ~270 bps, dragging adjusted margins to 7.1%.
  • ↓Short interest above 1.3% and high rate sensitivity highlight bearish sentiment.
  • ↓Reliance on discounting erodes long-term pricing power and profit margins.
  • ↓Aggressive international expansion carries execution risks and potential cost overruns.
  • ↓RH Estates and new collections may underperform if customer uptake falls short.

Investment themes with RH

Home Furnishings↑ +0.71%

WSM · W · HNI
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Earnings Call · Q2 2025 · Mgmt. Guidance

Updated 08-03-2026neutral

Transcript signals

Bull points

  • RH continued to generate industry-leading growth in the second quarter as revenue increased 8.4% and demand increased 13.7%, despite the polarizing impact of tariff uncertainty and the worst housing market in almost 50 years.
  • Net income increased 79%, and we generated $81 million of free cash flow in the quarter.
  • Current demand trends indicate the gallery is expected to reach approximately $37 to $39 million of demand in 2025, its second full fiscal year, with online demand reaching approximately $8 million.

Bear points

  • Just when you might have thought the tariff conversation was complete, the announcement of a new furniture investigation and the possibility for additional furniture tariffs on top of existing furniture tariffs and incremental steel and aluminum tariffs were introduced with the goal of returning furniture manufacturing back to America.
  • the significant inflation that we believe will start to become evident in the second half of this year and accelerate into 2026 and beyond.
  • many smaller companies will have difficulty surviving these levels of tariffs.
Read full transcript analysis ›