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RH pages available for free this week:
- Cash Flow Statement
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Enterprise Value to EBITDA (EV/EBITDA)
- Price to FCFE (P/FCFE)
- Dividend Discount Model (DDM)
- Current Ratio since 2013
- Total Asset Turnover since 2013
- Price to Book Value (P/BV) since 2013
- Analysis of Revenues
- Analysis of Debt
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Calculation
ROE | = | 100 | × | Net income (loss)1 | ÷ | Stockholders’ equity (deficit)1 | |
---|---|---|---|---|---|---|---|
Jan 28, 2023 | = | 100 | × | ÷ | |||
Jan 29, 2022 | = | 100 | × | ÷ | |||
Jan 30, 2021 | = | 100 | × | ÷ | |||
Feb 1, 2020 | = | 100 | × | ÷ | |||
Feb 2, 2019 | = | 100 | × | ÷ | |||
Feb 3, 2018 | = | 100 | × | ÷ | |||
Jan 28, 2017 | = | 100 | × | ÷ | |||
Jan 30, 2016 | = | 100 | × | ÷ | |||
Jan 31, 2015 | = | 100 | × | ÷ | |||
Feb 1, 2014 | = | 100 | × | ÷ | |||
Feb 2, 2013 | = | 100 | × | ÷ |
Based on: 10-K (reporting date: 2023-01-28), 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02), 10-K (reporting date: 2018-02-03), 10-K (reporting date: 2017-01-28), 10-K (reporting date: 2016-01-30), 10-K (reporting date: 2015-01-31), 10-K (reporting date: 2014-02-01), 10-K (reporting date: 2013-02-02).
1 US$ in thousands
The financial data reveals significant fluctuations in net income over the analyzed period. Net income started with a loss in early 2013 but transitioned to positive figures in subsequent years, showing a general upward trend with some volatility. Notable spikes are observed in 2019 and 2020, where net income sharply increased, peaking in 2022 before a slight decline in 2023.
Stockholders’ equity similarly exhibits considerable variation throughout the period. Starting from a moderate positive position in 2013, it consistently grew, reaching a peak in 2017. However, a drastic drop occurred from 2017 to 2018, leading to negative equity values, followed by recovery phases in the next years. The equity rose again to significant positive levels by 2022, although it dropped somewhat in 2023.
Return on equity (ROE) percentages show a strong correlation with net income and equity trends. Initially negative and low in 2013, ROE increased to moderate levels in subsequent years, with missing data points in the middle period. When available, ROE displays very high values, particularly a notable spike in 2019 reaching over 1100%, followed by stable yet high returns above 50% in the last years observed. This pattern indicates periods of extreme profitability relative to equity, although volatility and missing data suggest caution in interpretation.
- Net Income (Loss)
- Transitioned from negative to steadily increasing positive values over the years with marked peaks in 2019, 2020, and especially in 2022.
- The peak in 2022 was followed by a reduction in 2023, although it remained significantly higher than earlier years.
- Stockholders’ Equity (Deficit)
- Generally increasing from 2013 through 2017, interrupted by a major decline to negative values in 2018 and 2019.
- After 2019, equity recovered strongly, surpassing prior highs by 2022 before a moderate decline in 2023.
- Return on Equity (ROE)
- Started negative, turned positive and moderate in early years, with gaps in the middle period data.
- The recorded ROE values post-gap show extremely high performance, especially the surge in 2019, indicating remarkable efficiency in generating net income from equity during these years.
Comparison to Competitors
RH | Amazon.com Inc. | Home Depot Inc. | Lowe’s Cos. Inc. | TJX Cos. Inc. | |
---|---|---|---|---|---|
Jan 28, 2023 | |||||
Jan 29, 2022 | |||||
Jan 30, 2021 | |||||
Feb 1, 2020 | |||||
Feb 2, 2019 | |||||
Feb 3, 2018 | |||||
Jan 28, 2017 | |||||
Jan 30, 2016 | |||||
Jan 31, 2015 | |||||
Feb 1, 2014 | |||||
Feb 2, 2013 |
Based on: 10-K (reporting date: 2023-01-28), 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02), 10-K (reporting date: 2018-02-03), 10-K (reporting date: 2017-01-28), 10-K (reporting date: 2016-01-30), 10-K (reporting date: 2015-01-31), 10-K (reporting date: 2014-02-01), 10-K (reporting date: 2013-02-02).
Comparison to Sector (Consumer Discretionary Distribution & Retail)
RH | Consumer Discretionary Distribution & Retail | |
---|---|---|
Jan 28, 2023 | ||
Jan 29, 2022 | ||
Jan 30, 2021 | ||
Feb 1, 2020 | ||
Feb 2, 2019 | ||
Feb 3, 2018 | ||
Jan 28, 2017 | ||
Jan 30, 2016 | ||
Jan 31, 2015 | ||
Feb 1, 2014 | ||
Feb 2, 2013 |
Based on: 10-K (reporting date: 2023-01-28), 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02), 10-K (reporting date: 2018-02-03), 10-K (reporting date: 2017-01-28), 10-K (reporting date: 2016-01-30), 10-K (reporting date: 2015-01-31), 10-K (reporting date: 2014-02-01), 10-K (reporting date: 2013-02-02).
Comparison to Industry (Consumer Discretionary)
RH | Consumer Discretionary | |
---|---|---|
Jan 28, 2023 | ||
Jan 29, 2022 | ||
Jan 30, 2021 | ||
Feb 1, 2020 | ||
Feb 2, 2019 | ||
Feb 3, 2018 | ||
Jan 28, 2017 | ||
Jan 30, 2016 | ||
Jan 31, 2015 | ||
Feb 1, 2014 | ||
Feb 2, 2013 |
Based on: 10-K (reporting date: 2023-01-28), 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02), 10-K (reporting date: 2018-02-03), 10-K (reporting date: 2017-01-28), 10-K (reporting date: 2016-01-30), 10-K (reporting date: 2015-01-31), 10-K (reporting date: 2014-02-01), 10-K (reporting date: 2013-02-02).