Ralliant

RAL

Hardware, Equipment & Parts · Technology

Price

$63.61

-0.32 (-0.50%)

Market Cap

$7.04B

Winston Score

Winston is serious

Below-average fundamentals — multiple weak pillars.

Data as of Aug 23, 2026 · filings through Jul 3, 2026

How the score breaks down

Quality

Good

Growth

Weak

Cash Flow

Mixed

Stability

Good

Valuation

Data not available

Dividends

Weak

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Winston Score History

The full picture

Ralliant Corporation makes specialized test and measurement equipment, sensors, and electronic systems used in defense, aerospace, and industrial applications. Its products help customers check whether complex systems — like missiles, aircraft, and radar — are working correctly and safely. The company serves government defense agencies, military contractors, and industrial manufacturers, primarily in the United States.

Ralliant earns revenue by selling hardware, software, and related services to its customers, with a mix of long-term government contracts and commercial sales providing some revenue stability. It operates mainly in North America with some international exposure, and its roughly $6.9 billion market cap reflects a mid-sized industrial business. The company's moat comes partly from the technical complexity of its products and the high cost of switching suppliers in defense programs, but its growth depends heavily on U.S. defense spending levels, meaning budget cuts or program cancellations represent a meaningful risk to future revenue.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+12.8% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+21.4% YoY

YoY Growth Rate

Steady EPS growth

R&D Spend

$165M/ year

→ Flat (+1% vs prior year)

8.0% of revenue

Below sector average (15%)

Steady R&D investment year-over-year

Insider Activity

0.3%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$271M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Company generates more cash than it spends — no dilution risk from fundraising

Growth + cash flow

Ralliant is a rare growth stock that's already generating positive cash flow while growing at 13%. The Winston Score doesn't fully credit this transition from "burner" to "earner."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Share count broadly stable

+0.6% over 3y

The share count has stayed roughly flat over this period — little dilution or buyback activity.

Diluted shares outstanding: 112.7M (2022) → 113.4M (2025)

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

51.6%

Healthy — 51.6% gross margin

Profit after running costs

Operating Margin

14.5%

Healthy — 14.5% operating margin

Return on the money invested

ROCE

10.3%

Below par — 10.3% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth

Sales YoY

+5.9%

Slow sales growth (+5.9% YoY)

Profit growth

EPS YoY

-625.0%

Earnings shrinking (-625.0% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

How steady the profit is

EPS Consistency

1/6 quarters

Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

Data not available

Spare cash per sale

FCF Margin

15.0%

Converts sales into free cash efficiently (15.0%)

FCF margin between 10% and 20%. Every $100 in sales becomes $10 to $20 in real cash.

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Stability

What it owes vs what it owns

Debt / Equity

0.75

Moderate — manageable debt (0.75)

Covers its interest

Interest Cover

4.53x

Adequate interest coverage (4.5x)

Interest coverage between 3 and 8. Profits cover interest several times over.

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Dividend

Dividend Yield

0.28%

Small dividend — 0.28% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend record

Dividend Growth

N/A

Data not available

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