Filing Flows › RH (RH) › Q4 FY26
RH (RH) Q4 FY26 earnings results (fourth quarter fiscal 2026)
10-K filed Apr 1, 2026
RH (RH) reported revenue of $843M for the fourth quarter fiscal 2026 (Q4 FY26), +4% from a year earlier and -5% from the quarter before. Operating margin was 11.5%, net earnings $28.8M (3.4% of revenue).
RH, Q4 FY26: revenue $843M (+4% year over year), operating margin 11.5%, net earnings $28.8M, operating cash flow $96.1M. The chart follows the revenue to costs, profit and cash.
| Q4 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $843M | -5% | +4% |
| Gross profit | $361M | -7% | -0.4% |
| Operating profit | $96.6M | -9% | +37% |
| Net earnings | $28.8M | -21% | +107% |
| Operating cash flow | $96.1M | -27% | — |
| Free cash flow | $54.6M | -34% | — |
What changed
Revenue was $842.6M in Q4 FY26, up 4% year over year and down 5% from the previous quarter.
Gross margin was 42.9%, down 1.8 points from Q4 FY25. Operating profit was $96.6M, a 11.5% margin (up 2.8 points year over year). Of the extra revenue versus Q4 FY25, 87% reached operating profit, above the 9% margin then. Operating expenses fell 9% while revenue rose 4%. Net earnings were $28.8M, up 107% year over year. The effective tax rate was 31.7%.
Operating cash flow was $96.1M, 334% of net earnings. Non-cash charges added back $40.3M of depreciation and amortization and $8.6M of share-based compensation. Working capital and other items added $18.5M. Capital expenditures of $41.5M left free cash flow of $54.6M.
Questions
What was RH's revenue in the fourth quarter fiscal 2026?
RH (RH) reported revenue of $843M for the fourth quarter fiscal 2026 (Q4 FY26), +4% from a year earlier and -5% from the quarter before.
Was RH profitable in the fourth quarter fiscal 2026?
Operating profit was $96.6M (11.5% of revenue) and net earnings $28.8M.
Source: RH 10-K on SEC EDGAR.