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Friday 6 November 2026
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Ralliant Corporation
RAL Technology Electronic Components
Ralliant Corporation’s revenue for fiscal 2025 (year ended December 2025) was $2.1 billion, down 3.99% from fiscal 2024.
- Revenue
- +17.2%
- EPS
- +122.0%
- Free cash flow
- −19.5%
- Total debt
- +0.01%
Quarter to September 2026, against a year earlier
62.80
8.78
−12.27%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM Sep ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | — | — | — | — | — | — | — | 2,156 | 2,155 | 2,069 | 2,277 | (2.0%) | 2,297 | 2,456 | 2,599 | +7.9% | |
| Gross margin, % | — | — | — | — | — | — | — | 51.94 | 51.61 | 50.29 | 51.59 | (1.6) pt | ||||||
| EBT | — | — | — | — | — | — | — | 510 | 433 | (1,216) | (1,159) | n/m | ||||||
| EBT margin, % | — | — | — | — | — | — | — | 23.65 | 20.08 | (58.80) | (50.89) | (82.4) pt | ||||||
| Net income | — | — | — | — | — | — | — | 417 | 355 | (1,222) | (1,186) | n/m | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | — | — | — | — | — | — | — | 19.13 | 19.12 | 18.34 | 20.55 | (2.1%) | |||||
| Earnings | — | — | — | — | — | — | — | 3.70 | 3.15 | (10.84) | (10.49) | n/m | ||||||
| Cash flow | — | — | — | — | — | — | — | 4.10 | 4.03 | 3.52 | 3.05 | (7.3%) | ||||||
| Capex | — | — | — | — | — | — | — | (0.20) | 0.23 | (0.33) | (0.31) | +29.7% | ||||||
| Free cash flow | — | — | — | — | — | — | — | 3.90 | 4.26 | 3.19 | 2.73 | (9.5%) | ||||||
| Book value | — | — | — | — | — | — | — | 0.00 | 33.39 | 14.49 | 14.59 | n/m | ||||||
| Shares, m | — | — | — | — | — | — | — | 113 | 113 | 113 | 112 | 0.0% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | — | — | — | — | — | — | — | 20.47 | 20.47 | 0.00 | 0.00 | 13.6 | |||||
| P/S | — | — | — | — | — | — | — | 0.00 | 0.00 | 2.78 | 3.06 | 0.9 | ||||||
| P/B | — | — | — | — | — | — | — | 1.42 | 1.42 | 3.51 | 4.30 | 2.1 | ||||||
| EV/Sales | — | — | — | — | — | — | — | 0.00 | 0.00 | 3.18 | 3.63 | 1.1 | ||||||
| EV/FCF | — | — | — | — | — | — | — | 9.76 | 9.76 | 18.26 | 27.30 | 12.6 | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | — | — | — | — | — | — | — | 462 | 455 | 398 | 338 | (7.2%) | |||||
| Capex | — | — | — | — | — | — | — | (22) | 26 | (38) | (34) | +29.7% | ||||||
| Free cash flow | — | — | — | — | — | — | — | 439 | 480 | 360 | 303 | (9.5%) | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | — | — | — | — | — | — | — | — | 85 | (184) | 437 | n/m | |||||
| Net debt | — | — | — | — | — | — | — | — | — | 830 | 783 | — | ||||||
| Shareholders’ equity | — | — | — | — | — | — | — | — | 3,763 | 1,634 | 1,617 | (56.6%) | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | — | — | — | — | — | — | — | 0.00 | 15.03 | (28.63) | (26.14) | (28.6) pt | |||||
| ROIC | — | — | — | — | — | — | — | 0.00 | 7.63 | (30.00) | (28.65) | (30.0) pt | ||||||
| ROE | — | — | — | — | — | — | — | 0.00 | 0.00 | (45.30) | (51.80) | (45.3) pt | ||||||
| People | ||||||||||||||||||
| People | Employees | — | — | — | — | — | — | — | — | 7,000 | 7,000 | — | 0.0% | |||||
| Revenue/emp, $m | — | — | — | — | — | — | — | 0.00 | 0.31 | 0.30 | — | n/m | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026
Business profile
Where the money comes from and where it goes Fiscal 2024
| Sensors and Safety Systems | 1,217 | 56.49% |
|---|---|---|
| Test and Measurement | 938 | 43.51% |
| Gross margin | 51.61% | |
| Operating margin | 21.33% | |
| Pre-tax margin | 20.08% |
Ralliant Corporation vs peers in Electronic Components (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| FN Fabrinet | $10.5B | 22.2× | 18.7× | +50.74% (above 0%: growing) | +7.68% (above 0%: growing) | −340.60% (below 0%: shrinking) | 11.79% | 9.90% | Compare |
| LFUS Littelfuse, Inc. | $8.9B | 259× | 23.3× | +22.75% (above 0%: growing) | +62.22% (above 0%: growing) | +57.67% (above 0%: growing) | 41.55% | 20.00% | Compare |
| SANM Sanmina Corporation | $7.0B | 23.0× | 23.5× | +69.67% (above 0%: growing) | +69.53% (above 0%: growing) | −85.58% (below 0%: shrinking) | 10.49% | 6.39% | Compare |
| RAL Ralliant Corporation | $7.0B | — (loss-making) | 31.4× | +17.20% (above 0%: growing) | +122.03% (above 0%: growing) | −19.51% (below 0%: shrinking) | 53.15% | 18.95% | |
| TTMI TTM Technologies, Inc. | $6.6B | 24.7× | 23.2× | +59.93% (above 0%: growing) | +56.86% (above 0%: growing) | +75.69% (above 0%: growing) | 24.24% | 13.48% | Compare |
| VICR Vicor Corporation | $6.2B | 34.8× | 48.0× | +78.51% (above 0%: growing) | +117.46% (above 0%: growing) | −1.05% (below 0%: shrinking) | 68.33% | 36.60% | Compare |
| PLXS Plexus Corp. | $5.0B | 24.9× | 29.9× | +34.79% (above 0%: growing) | +34.66% (above 0%: growing) | −93.43% (below 0%: shrinking) | 10.23% | 6.05% | Compare |
| OLED Universal Display Corporation | $3.9B | 17.8× | 19.2× | +14.91% (above 0%: growing) | +85.55% (above 0%: growing) | +13.75% (above 0%: growing) | 73.15% | 33.48% | Compare |
| OSIS OSI Systems, Inc. | $3.0B | 20.5× | 18.7× | +4.90% (above 0%: growing) | +30.97% (above 0%: growing) | +274.38% (above 0%: growing) | 30.68% | 8.32% | Compare |
| Median of peers | $6.4B | 23.8× | 23.3× | +42.77% | +59.54% | +6.35% | 27.46% | 11.69% |
From the latest earnings call
- CEO Tami Newcombe said orders outpaced revenue in both segments, while defense and space backlog surpassed $1.5 billion, giving Ralliant visibility into demand.
- CFO Neill Reynolds said Ralliant accelerated productivity savings and raised its full-year outlook, while using pricing and inventory to navigate inflation and supply constraints.
Largest institutional holders 13F, quarter to 30 June 2026
Held by institutions
102.21%
Held by the ten largest
57.28%
| Holder | Shares | Stake | Change |
|---|---|---|---|
| BlackRock | 14.12m | 12.76% | +574.58k |
| Dodge & Cox | 14.01m | 12.66% | +257.65k |
| Vanguard | 13.63m | 12.33% | −771.64k |
| Millennium Management | 4.50m | 4.07% | +143.15k |
| State Street | 3.82m | 3.46% | +143.71k |
| T. Rowe Price | 3.69m | 3.34% | −1.97m |
| FLOSSBACH VON STORCH SE | 3.02m | 2.73% | −685.56k |
| Morgan Stanley | 2.37m | 2.14% | +777.86k |
| FULLER & THALER ASSET MANAGEMENT, INC. | 2.26m | 2.04% | +2.26m |
| Arrowstreet Capital | 1.94m | 1.75% | +473.62k |
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.
Pay and ownership Proxy statement filed 23 April 2026
Chief executive’s pay
| Year | Total pay | Actually paid | $100 invested |
|---|---|---|---|
| 2025 | 12.43m | 13.47m | 105.21 |
Ownership
Directors and executive officers, together
less than 1%
The Vanguard Group
13.00%
BlackRock, Inc.
11.30%
Dodge & Cox
10.70%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards
at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s
shares at the start of the earliest year shown was worth at each year’s end.
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more.
Read the proxy statement
Ralliant Corporation (RAL) Latest News
4 Nov
15 Oct
30 Jul
15 May
13 May
RAL metrics, ten years each
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Shares outstanding
- Book value per share
Ralliant designs, manufactures and services precision instruments and engineered products for customers who need to measure, test, monitor or protect equipment. Its customers include engineers, manufacturers, utilities, defense and space organizations, universities and research institutions. Ralliant was incorporated in 2024, is headquartered in Raleigh, North Carolina, and is led by President and Chief Executive Officer Tami Newcombe.
The company operates through two segments. Test and Measurement sells instruments, systems, software and services used to test electronic devices and electrical systems. Its products include oscilloscopes, which help engineers observe electrical signals, and semiconductor test systems. Customers use them in activities ranging from designing electronics to testing power equipment.