Key Takeaways RH's gallery expansion and premium positioning support revenue growth despite U.S. housing headwinds.Strong openings in Europe strengthen RH's international brand push ahead of London and Milan in 2026.Elevated tariffs, weak housing demand and marketing investments pressure fiscal third-quarter margins.RH (RH) , previously known as Restoration Hardware, is scheduled to report its third-quarter fiscal 2025 (ended Nov. 1) results on Dec. 11, after market close.In the last reported quarter, the c ...

Dear Reader,I am a Senior Derivatives Expert with over 10 years of experience in the field of Asset Management, specializing in equity analysis and research, macroeconomics, and risk-managed portfolio construction. My professional background covers both institutional and private client asset management, where I have advised on and implemented multi-asset strategies, but highly focusing on equities and derivatives.As you might be as well, I am a stock market enthusiast. My core passion lies in understanding ...

Dear Reader,I am a Senior Derivatives Expert with over 10 years of experience in the field of Asset Management, specializing in equity analysis and research, macroeconomics, and risk-managed portfolio construction. My professional background covers both institutional and private client asset management, where I have advised on and implemented multi-asset strategies, but highly focusing on equities and derivatives.As you might be as well, I am a stock market enthusiast. My core passion lies in understanding ...

本文源自：格隆汇 CRH水泥(CRH.US)盘前涨超6%，报127.33美元。消息面上，该公司被纳入标普500指数，将在12月底进 行季度调整时加入该基准指数。 ...

CRH水泥(CRH.US)盘前涨超6%，报127.33美元。消息面上，该公司被纳入标普500指数，将在12月底进 行季度调整时加入该基准指数。 ...

Core Viewpoint - The luxury home goods retailer RH has faced significant revenue declines due to a sluggish housing market, resulting in a stock price drop of over 50% in the last five years, contrasting with the S&P 500's 87% increase [1][4]. Group 1: Company Performance - RH's revenue peaked at $1 billion in Q3 2021 but fell to $727 million by fiscal Q1 2024, although a modest recovery to $899 million was noted in the most recent quarter [4]. - The stock is down 58% year to date, influenced by uncertainties around tariffs and competition, leading to reduced profit visibility [5]. - The operating profit margin has decreased from over 20% before the downturn to just 12% on a trailing-12-month basis [5]. Group 2: Market Conditions and Opportunities - With the Federal Reserve expected to lower interest rates, it may be an opportune time to invest in stocks like RH that could benefit from a housing market recovery [2]. - RH is expanding internationally, particularly in Europe, where demand in England has surged by 76% in the recent quarter, indicating potential for future growth [7]. - The company is managing selling prices to counteract higher tariff costs, which is expected to stabilize margins, with analysts predicting a return to nearly 20% operating margin by fiscal 2030 [8]. Group 3: Investment Potential - The stock is currently trading at a forward price-to-earnings ratio of 12.8, suggesting potential for significant returns over the next five years, especially with projected 46% compound annual growth in adjusted earnings per share [8]. - Despite recent underperformance, RH's brand and long-term growth potential remain intact, presenting a buying opportunity for long-term investors [6].

Core Viewpoint - RH, the high-end home furnishings company, has faced significant challenges in 2025, primarily due to a sluggish housing market and increased tariffs, leading to a nearly 60% decline in stock value this year [2][3][11] Group 1: Stock Performance - The stock has experienced multiple boom-and-bust cycles over the past decade, with a notable downturn in 2025 as the housing market hit a 30-year low [2] - Despite the stock's poor performance, RH reported an 8.4% revenue growth in the second quarter of 2025, indicating solid operational performance [5] - The stock is currently trading at $161.39, with a market capitalization of $3 billion, and has a gross margin of 44.65% [9] Group 2: Housing Market Impact - The housing market's decline has significantly impacted RH's business, with CEO Gary Friedman stating it is operating in "the worst housing market in almost 50 years" [7] - There is uncertainty regarding the housing market's recovery in 2026, although a potential decrease in interest rates could improve mortgage affordability [7][8] Group 3: European Expansion - RH is actively expanding into Europe, having opened several galleries, including RH Paris, and plans to open more in marquee markets like London and Milan in 2026 [9][10] - The company anticipates that its European and Middle Eastern expansion could double its business size within the next five to seven years [10] Group 4: Future Outlook - The stock may be undervalued following the sell-off in 2025, and if the company can deliver on its growth strategies and the macroeconomic environment improves, a recovery in 2026 is possible [11]

被动投资的兴起使得美国股票指数中对公司的包容性考量变得愈发重要，因为追踪该指数的基金会增加 对股票的需求。根据相关标准，入选公司必须拥有至少 227 亿美元的市值，并且要满足盈利、流动性及 股票流通量等方面的要求，才能有资格被纳入标普500 指数。一旦从该基准指数中被剔除，可能会对股 票价格产生影响，因为指数基金会出售股票以调整与标普500指数新构成的匹配度。 分析预测指出，Carvana、CRH水泥和美国舒适系统是值得纳入的优质候选企业。在周五的公告发布 后，Carvana有助于实现行业多元化，并符合纳入标准。该公司股价今年迄今已上涨近 100%。 Miller Tabak + Co.首席市场策略师Matt Maley表示，基于纳入公告而出现的股价上涨往往是短暂的。他 说道："需求会大幅增加，但一旦新的股票被纳入，这种需求就会迅速消退。"不过，他补充称，鉴于指 数追踪基金的受欢迎程度，这些公告仍然具有重要意义。 对于总部位于亚利桑那州坦佩市的Carvana而言，这是一次重要的里程碑。该公司股价从 2022 年的不足 4 美元飙升至目前的约 400 美元，涨幅达 10000%。这得益于其削减成本和重组债务的努 ...

CRH水泥(CRH.US)、Carvana(CVNA.US)与美国舒适系统(FIX.US)被纳入标普500指数，这三家公司将在 12月底进行季度调整时加入该基准指数。而LKQ Corp.(LKQ.US)、Solstice Advanced Materials(SOLS.US) 与莫霍克工业(MOK.US)将被剔除，于12月22日开盘前完成替换。消息公布后，二手车零售商Carvana和 建筑材料公司CRH水泥的股价在周五盘后交易中均上涨约7%。供暖与通风公司美国舒适系统的股价也 上涨了约2%。 被动投资的兴起使得美国股票指数中对公司的包容性考量变得愈发重要，因为追踪该指数的基金会增加 对股票的需求。根据相关标准，入选公司必须拥有至少227亿美元的市值，并且要满足盈利、流动性及 股票流通量等方面的要求，才能有资格被纳入标普500指数。一旦从该基准指数中被剔除，可能会对股 票价格产生影响，因为指数基金会出售股票以调整与标普500指数新构成的匹配度。 分析预测指出，Carvana、CRH水泥和美国舒适系统是值得纳入的优质候选企业。在周五的公告发布 后，Carvana有助于实现行业多元化，并符合纳入标准。该公司股价今年 ...

Core Viewpoint - RH's stock performance has shown a slight increase, outperforming major indices despite a recent decline over the past month [1][2] Company Performance - RH ended the recent trading session at $160.68, reflecting a +1.96% change from the previous day's closing price, while the S&P 500, Dow, and Nasdaq all registered losses [1] - The company is projected to report earnings of $2.13 per share, indicating a year-over-year decline of 14.11%, with revenue expected to be $882.95 million, up 8.77% from the prior-year quarter [2] - For the full year, analysts expect earnings of $9.08 per share and revenue of $3.5 billion, marking changes of +68.46% and +10% respectively from last year [3] Analyst Sentiment - Recent changes to analyst estimates for RH suggest optimism regarding the business and profitability, as positive revisions typically reflect short-term business trends [3][4] - The Zacks Rank system currently rates RH at 4 (Sell), with the consensus EPS estimate remaining unchanged over the last 30 days [5] Valuation Metrics - RH is currently traded at a Forward P/E ratio of 17.35, which is below the industry average Forward P/E of 19.68 [6] - The company has a PEG ratio of 0.68, significantly lower than the Consumer Products - Staples industry average PEG ratio of 2.79 [7] Industry Context - The Consumer Products - Staples industry, which includes RH, has a Zacks Industry Rank of 188, placing it in the bottom 24% of over 250 industries [8]