Analysis of Reportable Segments
RH operates in 2 segments: RH Segment and Waterworks.
Segment Profit Margin
RH, profit margin by reportable segment
| Jan 28, 2023 | Jan 29, 2022 | Jan 30, 2021 | Feb 1, 2020 | Feb 2, 2019 | Feb 3, 2018 | |
|---|---|---|---|---|---|---|
| RH Segment | 22.41% | 26.29% | 22.59% | 14.93% | 12.88% | 7.48% |
| Waterworks | 14.74% | 10.76% | 3.37% | 2.84% | -0.89% | -1.75% |
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).
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | RH Segment | RH Segment segment profit margin ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
| Waterworks | Waterworks segment profit margin ratio improved from 2021 to 2022 and from 2022 to 2023. |
Segment Profit Margin: RH Segment
RH; RH Segment; segment profit margin calculation
| Jan 28, 2023 | Jan 29, 2022 | Jan 30, 2021 | Feb 1, 2020 | Feb 2, 2019 | Feb 3, 2018 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Operating income | 761,544) | 944,881) | 616,523) | 375,315) | 306,068) | 173,414) |
| Net revenues | 3,398,638) | 3,593,842) | 2,729,422) | 2,514,296) | 2,375,472) | 2,319,332) |
| Segment Profitability Ratio | ||||||
| Segment profit margin1 | 22.41% | 26.29% | 22.59% | 14.93% | 12.88% | 7.48% |
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).
1 2023 Calculation
Segment profit margin = 100 × Operating income ÷ Net revenues
= 100 × 761,544 ÷ 3,398,638 = 22.41%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | RH Segment | RH Segment segment profit margin ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
Segment Profit Margin: Waterworks
RH; Waterworks; segment profit margin calculation
| Jan 28, 2023 | Jan 29, 2022 | Jan 30, 2021 | Feb 1, 2020 | Feb 2, 2019 | Feb 3, 2018 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Operating income | 28,282) | 17,747) | 4,019) | 3,780) | (1,155) | (2,116) |
| Net revenues | 191,839) | 164,978) | 119,204) | 133,141) | 130,181) | 120,842) |
| Segment Profitability Ratio | ||||||
| Segment profit margin1 | 14.74% | 10.76% | 3.37% | 2.84% | -0.89% | -1.75% |
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).
1 2023 Calculation
Segment profit margin = 100 × Operating income ÷ Net revenues
= 100 × 28,282 ÷ 191,839 = 14.74%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Waterworks | Waterworks segment profit margin ratio improved from 2021 to 2022 and from 2022 to 2023. |
Segment Return on Assets (Segment ROA)
RH, ROA by reportable segment
| Jan 28, 2023 | Jan 29, 2022 | Jan 30, 2021 | Feb 1, 2020 | Feb 2, 2019 | Feb 3, 2018 | |
|---|---|---|---|---|---|---|
| RH Segment | 15.37% | 17.96% | 23.18% | 16.31% | 17.93% | 10.78% |
| Waterworks | 13.02% | 9.86% | 2.92% | 2.63% | -1.17% | -1.70% |
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).
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | RH Segment | RH Segment segment ROA deteriorated from 2021 to 2022 and from 2022 to 2023. |
| Waterworks | Waterworks segment ROA improved from 2021 to 2022 and from 2022 to 2023. |
Segment ROA: RH Segment
RH; RH Segment; segment ROA calculation
| Jan 28, 2023 | Jan 29, 2022 | Jan 30, 2021 | Feb 1, 2020 | Feb 2, 2019 | Feb 3, 2018 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Operating income | 761,544) | 944,881) | 616,523) | 375,315) | 306,068) | 173,414) |
| Total assets | 4,953,610) | 5,259,719) | 2,659,944) | 2,301,823) | 1,707,101) | 1,608,290) |
| Segment Profitability Ratio | ||||||
| Segment ROA1 | 15.37% | 17.96% | 23.18% | 16.31% | 17.93% | 10.78% |
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).
1 2023 Calculation
Segment ROA = 100 × Operating income ÷ Total assets
= 100 × 761,544 ÷ 4,953,610 = 15.37%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | RH Segment | RH Segment segment ROA deteriorated from 2021 to 2022 and from 2022 to 2023. |
Segment ROA: Waterworks
RH; Waterworks; segment ROA calculation
| Jan 28, 2023 | Jan 29, 2022 | Jan 30, 2021 | Feb 1, 2020 | Feb 2, 2019 | Feb 3, 2018 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Operating income | 28,282) | 17,747) | 4,019) | 3,780) | (1,155) | (2,116) |
| Total assets | 217,228) | 179,941) | 137,766) | 143,871) | 98,933) | 124,576) |
| Segment Profitability Ratio | ||||||
| Segment ROA1 | 13.02% | 9.86% | 2.92% | 2.63% | -1.17% | -1.70% |
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).
1 2023 Calculation
Segment ROA = 100 × Operating income ÷ Total assets
= 100 × 28,282 ÷ 217,228 = 13.02%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Waterworks | Waterworks segment ROA improved from 2021 to 2022 and from 2022 to 2023. |
Segment Asset Turnover
RH, asset turnover by reportable segment
| Jan 28, 2023 | Jan 29, 2022 | Jan 30, 2021 | Feb 1, 2020 | Feb 2, 2019 | Feb 3, 2018 | |
|---|---|---|---|---|---|---|
| RH Segment | 0.69 | 0.68 | 1.03 | 1.09 | 1.39 | 1.44 |
| Waterworks | 0.88 | 0.92 | 0.87 | 0.93 | 1.32 | 0.97 |
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).
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | RH Segment | RH Segment segment asset turnover ratio deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023. |
| Waterworks | Waterworks segment asset turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level. |
Segment Asset Turnover: RH Segment
RH; RH Segment; segment asset turnover calculation
| Jan 28, 2023 | Jan 29, 2022 | Jan 30, 2021 | Feb 1, 2020 | Feb 2, 2019 | Feb 3, 2018 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Net revenues | 3,398,638) | 3,593,842) | 2,729,422) | 2,514,296) | 2,375,472) | 2,319,332) |
| Total assets | 4,953,610) | 5,259,719) | 2,659,944) | 2,301,823) | 1,707,101) | 1,608,290) |
| Segment Activity Ratio | ||||||
| Segment asset turnover1 | 0.69 | 0.68 | 1.03 | 1.09 | 1.39 | 1.44 |
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).
1 2023 Calculation
Segment asset turnover = Net revenues ÷ Total assets
= 3,398,638 ÷ 4,953,610 = 0.69
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | RH Segment | RH Segment segment asset turnover ratio deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023. |
Segment Asset Turnover: Waterworks
RH; Waterworks; segment asset turnover calculation
| Jan 28, 2023 | Jan 29, 2022 | Jan 30, 2021 | Feb 1, 2020 | Feb 2, 2019 | Feb 3, 2018 | |
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Net revenues | 191,839) | 164,978) | 119,204) | 133,141) | 130,181) | 120,842) |
| Total assets | 217,228) | 179,941) | 137,766) | 143,871) | 98,933) | 124,576) |
| Segment Activity Ratio | ||||||
| Segment asset turnover1 | 0.88 | 0.92 | 0.87 | 0.93 | 1.32 | 0.97 |
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).
1 2023 Calculation
Segment asset turnover = Net revenues ÷ Total assets
= 191,839 ÷ 217,228 = 0.88
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Waterworks | Waterworks segment asset turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level. |
Operating income
RH, operating income by reportable segment
US$ in thousands
| Jan 28, 2023 | Jan 29, 2022 | Jan 30, 2021 | Feb 1, 2020 | Feb 2, 2019 | Feb 3, 2018 | |
|---|---|---|---|---|---|---|
| RH Segment | 761,544) | 944,881) | 616,523) | 375,315) | 306,068) | 173,414) |
| Waterworks | 28,282) | 17,747) | 4,019) | 3,780) | (1,155) | (2,116) |
| Total | 789,826) | 962,628) | 620,542) | 379,095) | 304,913) | 171,298) |
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).
Net revenues
RH, net revenues by reportable segment
US$ in thousands
| Jan 28, 2023 | Jan 29, 2022 | Jan 30, 2021 | Feb 1, 2020 | Feb 2, 2019 | Feb 3, 2018 | |
|---|---|---|---|---|---|---|
| RH Segment | 3,398,638) | 3,593,842) | 2,729,422) | 2,514,296) | 2,375,472) | 2,319,332) |
| Waterworks | 191,839) | 164,978) | 119,204) | 133,141) | 130,181) | 120,842) |
| Total | 3,590,477) | 3,758,820) | 2,848,626) | 2,647,437) | 2,505,653) | 2,440,174) |
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).
Total assets
RH, total assets by reportable segment
US$ in thousands
| Jan 28, 2023 | Jan 29, 2022 | Jan 30, 2021 | Feb 1, 2020 | Feb 2, 2019 | Feb 3, 2018 | |
|---|---|---|---|---|---|---|
| RH Segment | 4,953,610) | 5,259,719) | 2,659,944) | 2,301,823) | 1,707,101) | 1,608,290) |
| Waterworks | 217,228) | 179,941) | 137,766) | 143,871) | 98,933) | 124,576) |
| Real Estate | 138,451) | 100,810) | 100,603) | —) | —) | —) |
| Total | 5,309,289) | 5,540,470) | 2,898,313) | 2,445,694) | 1,806,034) | 1,732,866) |
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).