20 minute delayed
Join Market Matters and get full access to all our Opinion + Action
Undervalued
Morningstar Quantitative Rating as of 29 OCT 2026.
Quantitative Equity Rating Methodology – view here
Five-star price 4.63 Fair value 5.05 One-star price 5.51
Morningstar Quantitative Rating as of 29 OCT 2026.
Morningstar Quantitative Rating as of 29 OCT 2026. The slider runs from the five-star price (4.63) to the one-star price (5.51).
| Ratios |
|---|
| Currency (Price/reporting): AUD/USD |
| Exchange Rate: 1.4284 |
| Price - closing or last bid | 4.39 |
| Price - 12 month high | 4.79 |
| Price - 12 month low | 2.86 |
| Pricing date | 29 OCT 2026 |
| Volume - avg. trading volume for the last ten days | 8.22 |
| Market capitalization | 3,283.89 |
| 12 Month High price date | 5 OCT 2026 |
| 12 Month Low price date | 13 MAR 2026 |
| Volume - avg. trading volume for the last 3 months | 5.67 |
| Price - 1 Day % Change | 2.09% |
| Price - 13 week price percent change | 22.28% |
| Price - 26 week price percent change | 35.49% |
| Price - 5 Day % Change | 0.23% |
| Price - 52 week price percent change | 4.03% |
| Price - YTD price percent change | 13.73% |
| Price % Change Month To Date | -6.99% |
| EPS excluding extraordinary items - most recent fiscal year | 0.008 |
| EPS excluding extraordinary items - trailing 12 month | 0.008 |
| EPS Normalized - most recent fiscal year | 0.164 |
| Revenue/share - most recent fiscal year | 1.717 |
| Revenue/share - trailing 12 month | 1.717 |
| Book value per share - most recent fiscal year | 1.719 |
| Book value per share - most recent half-year | 1.719 |
| Book value (tangible) per share - most recent fiscal year | 0.243 |
| Book value (tangible) per share - most recent half-year | 0.243 |
| Cash per share - most recent fiscal year | 0.038 |
| Cash per share - most recent half-year | 0.038 |
| Cash Flow per share - most recent fiscal year | 0.295 |
| Cash Flow per share - trailing 12 month | 0.295 |
| Dividend per share - most recent fiscal year | — |
| Dividends per share - trailing 12 month | 0.028 |
| EBITD per share - trailing 12 month | 0.173 |
| EPS Basic excluding extraordinary items - most recent fiscal year | 0.008 |
| EPS Basic excluding extraordinary items - trailing 12 month | 0.008 |
| EPS including extraordinary items - most recent fiscal year | 0.008 |
| EPS including extraordinary items - trailing 12 month | 0.008 |
| Free Cash Flow per share - trailing 12 month | 0.269 |
| P/E excluding extraordinary items, most recent fiscal year | 371.74 |
| P/E Normalized, most recent fiscal year | 18.08 |
| Price to sales - most recent fiscal year | 1.73 |
| Price to Tangible Book - most fiscal year | 12.45 |
| Price to Free Cash Flow per Share - most recent fiscal year | 11.07 |
| Price to Cash Flow per share - trailing 12 month | 10.10 |
| Price to Book - most recent fiscal year | 1.76 |
| P/E excluding extraordinary items high, trailing 12 months | 403.92 |
| P/E excluding extraordinary items low, trailing 12 months | 14.26 |
| Net Debt, LFI | 425.18 |
| Net Debt, LFY | 349.70 |
| Dividend Yield - 5 Year Average | 2.22% |
| Dividend Yield - indicated annual dividend divided by closing price | 0.65% |
| Current Dividend Yield - Common Stock Primary Issue, LTM | 0.64% |
| Free Cash Flow - most recent fiscal year | 204.31 |
| LT debt/equity - most recent fiscal year | 27.76% |
| Payout ratio - most recent fiscal year | — |
| Total debt/total equity - most recent fiscal year | 29.42% |
| LT debt/equity - most recent half-year | 31.09% |
| Total debt/total equity - most recent half-year | 32.68% |
| Free Cash Flow - trailing 12 month | 204.31 |
| Payout ratio - trailing 12 month | — |
| Revenue - most recent fiscal year | 1,305.60 |
| Revenue - trailing 12 month | 1,305.60 |
| EBITD - most recent fiscal year | 131.64 |
| EBITD - trailing 12 month | 131.64 |
| Earnings before taxes - most recent fiscal year | 36.57 |
| Earnings before taxes - trailing 12 month | 36.57 |
| Net Income available to common - most recent fiscal year | 6.27 |
| Net Income available to common - trailing 12 months | 6.27 |
| Earnings before taxes Normalized - most recent fiscal year | 149.03 |
| Net Income Available to Common, Normalized - most recent fiscal year | 125.10 |
| Earnings per Share, Normalized, Excluding Extraordinary Items, Avg. Diluted Shares Outstanding, TTM | 0.16 |
| Net Profit Margin % - 1st historical fiscal year | 0.48% |
| Net Profit Margin % - trailing 12 month | 0.48% |
| Operating margin - 1st historical fiscal year | 11.87% |
| Operating margin - trailing 12 month | 11.87% |
| Pretax margin - trailing 12 month | 2.80% |
| Pretax margin - 1st historical fiscal year | 2.80% |
| Operating Margin - 5 year average | 15.47% |
| Pretax Margin - 5 year average | 12.13% |
| Free Operating Cash Flow/Revenue, 5 Year Average | 12.08% |
| Free Operating Cash Flow/Revenue, TTM | 15.65% |
| Net Profit Margin - 5 year average | 8.36% |
| Return on average assets - most recent fiscal year | 0.29% |
| Return on average assets - trailing 12 month | 0.29% |
| Return on average equity - most recent fiscal year | 0.46% |
| Return on average equity - trailing 12 month | 0.46% |
| Return on average assets - 5 year average | 5.60% |
| Return on average equity - 5 year average | 9.41% |
| Net Income/employee - most recent fiscal year | — |
| Revenue/employee - most recent fiscal year | — |
| Revenue growth rate, 5 year | 5.49% |
| EPS growth rate, 5 year | -46.24% |
| Growth rate% - dividend, 3 year | -22.25% |
| Revenue/share (5 yr growth) | 6.23% |
| Growth rate% - Revenue, 3 year | 1.63% |
| Growth rate% - EPS, 3 year | -64.38% |
| Book value per share growth rate, 5 year | 2.58% |
| Capital Spending growth rate, 5 year | -11.43% |
| Earnings Before Interest, Taxes, Depreciation & Amortization, 5 Year CAGR | -12.32% |
Financial forecast (AUD, millions except per share)
| Actuals | Estimates | |||||||
| 2026 | 2027 | 2028 | ||||||
| Estimate breakdown | ||||||||
Financials (USD, millions)
| Period end: | JUN 22 | JUN 23 | JUN 24 | JUN 25 | JUN 26 |
| Fiscal year: | 2022 | 2023 | 2024 | 2025 | 2026 |
| Period length: | 12 months | 12 months | 12 months | 12 months | 12 months |
Announcements
| DATE | TIME | HEADING | PAGES |
| Price sensitive |
Reliance Worldwide (RWC) -9.09%: delivered a weaker-than-expected first-half result, with softness extending beyond the US into Australia and EMEA, surprising the market. Tariff impacts and lower volumes weighed on margins, and guidance suggests a tougher earnings backdrop through FY26.
RWC has been under pressure as input costs surge - copper prices alone are up more than 30%, squeezing margins across the plumbing supply chain. The stock dipped last month following downgrades that centred on concerns around how aggressively RWC may need to lift prices simply to offset higher costs.
Plumbing supplies business RWC rallied +8.9%, the most in six months, following a solid earnings beat. The company didn’t issue any guidance, but the beat plus a small $19.6mn buyback was enough to send the stock higher.
Major global plumbing company RWC fell 4% on Wednesday, and now trades over 20% below its March high. While the recovery in earnings demonstrated earlier in the year is not without risk, we see the majority of earnings drivers, including margins and volumes, improving rather than declining for RWC.
Plumbing business RWC is offering solid value following its 15% correction, with earnings set to improve through better volumes and margins. Once the cycle turns, we believe the upside from the operating leverage should flow through, noting the 100-150bps EBITDA margin leverage to +5% volumes remains – volumes are currently 10-20% below normal across its various markets.
Plumbing business RWC advanced +1.9% on Wednesday, arresting some of the recent weakness. The company reported FY23 revenue of US1.24bn in August. However, guidance moving forward disappointed investors, with 2.7% pa growth anticipated over the next three years below expectations.
Plumbing business RWC rallied +1.4% yesterday making it the 3rd best-performing stock on the main board, in a similar fashion to REH it has rallied well through 2023.
Best known for its iconic 'SharkBite' Push-To-Connect (PTC) fittings, Reliance Worldwide (RWC) is a major figure in the North American, UK and Australian plumbing markets. RWC has rallied over +40% year to date, although unrelated it looks very similar to the likes of Xero (XRO) and the NASDAQ on the charts.
Plumbing supplies group RWC has a large US presence which makes it more attractive to MM than its more domestically focused peers although both regions are likely to see ongoing weakness across the construction sector. • After correcting 58% from its 2021 high RWC is one of our preferred companies to position ourselves for an eventual upswing in construction.
This plumbing supply business has struggled since missing quarterly sales expectations in late October which was unfortunately also accompanied by downbeat rhetoric. This has been a tough year for stocks that have missed earnings but RWC is slowly but surely starting to scan cheaply with a valuation of 10.8x FY23 earnings plus an anticipated 5.8% yield over the next 12 months.
MM remains neutral toward RWC
MM is cautiously bullish towards RWC around $3.80
MM is cautiously bullish towards RWC
MM is cautiously bullish RWC around $4.50
MM is cautiously bullish towards RWC around $5
MM is cautiously bullish RWC around $3.75
MM is short-term mildly bullish toward RWC
MM is neutral to bullish on RWC
MM likes RWC around the $3.30 area
MM is neutral RWC around $2.80
Reliance manufactures behind-the-wall plumbing products, which include fittings, pipes, valves, fluid dispensers, pipe systems, and appliance connectors. Its main segment is the US, which comprises about two-thirds of our midcycle EBITDA estimates. Other segments include EMEA and Asia-Pacific, which contribute about 15% and 20%, respectively, of our midcycle EBITDA estimates. The firm is best known for its push-to-connect products, including the brands SharkBite in the US and John Guest in the United Kingdom. Reliance's primary target segment is the do-it-yourself market. Smaller sales segments include residential and commercial construction, and hot water system manufacturers, which use some Reliance products in manufacturing.
Forgot password? Request a One Time Password or reset your password
One Time Password
Check your email for an email from [email protected]
Subject: Your OTP for Account Access
This email will have a code you can use as your One Time Password for instant access
A link to create a new password will be sent to the email address you have registered to your account.
Hi, this is only available to members. Join today and access the latest views on the latest developments from a professional money manager.
Our Smart Phone App will give you access to much of our content and notifications. Download for free today.
Hi, this is only available to members. Join today and access the latest views on the latest developments from a professional money manager.
JOIN NOW
Something went wrong. Please try again in a moment.
