Remitly Global, Inc. (RELY) stock analysis
Close on Nov 11, 2026Market cap $4.84BP/E 13.9Yield –
StockData Score
Prices as of Nov 11, 2026How the score works
Solid15 of 30 checks passed
Remitly Global passes 15 of the 30 checks behind our score; 12 could not be run for lack of data and count as not passed. Each dot in the shape is one check — hover it for the numbers.
- Valuation
- 3/6
- Growth
- 3/6
- Past performance
- 4/6
- Financial health
- 5/6
- Dividend
- 0/6
What stands out
Margin of safety over 20%
The price is 30.6% below fair value, more than the 20% cushion we look for.
Trading below fair value
The share price of $22.87 is below our fair value estimate of $32.95.
Return on capital over 10%
Return on invested capital was 51.8%, above the 10% that usually covers the cost of capital.
Low debt
Debt is 0.2% of shareholders' equity, under the 40% we consider low.
What to watch
Return on equity under 15%
Return on equity was 35.9% over the last twelve months and averaged -14.6% over five years; we look for 15% on both.
P/B above the industry
Remitly Global's price-to-book of 3.95 is above the Miscellaneous Business Services median of 2.48.
No dividend
Remitly Global has not paid a dividend in the last twelve months.
Valuation3/6
P/E against its history
Not enough price and earnings history to compare.
P/E below the industry
Remitly Global's P/E of 13.9 is below the Miscellaneous Business Services median of 25.8.
EV/EBITDA against its history
Needs positive EBITDA and price history.
P/B above the industry
Remitly Global's price-to-book of 3.95 is above the Miscellaneous Business Services median of 2.48.
Trading below fair value
The share price of $22.87 is below our fair value estimate of $32.95.
Margin of safety over 20%
The price is 30.6% below fair value, more than the 20% cushion we look for.
Growth3/6
Revenue growing 10%+ a year
Revenue grew 35.8% a year over the last three fiscal years.
EPS growth over 3 years
Needs positive EPS three years ago and today.
Earnings acceleration
Needs positive net income now, a year ago and five years ago.
Growing faster than the industry
Revenue grew 23.0% over the last twelve months; the Miscellaneous Business Services median is 9.9%.
Guidance raised
Remitly Global raised its fiscal year 2026 Total revenue outlook on Aug 5, 2026.
Gross margin trend
This company does not report gross profit.
Past performance4/6
Return on equity under 15%
Return on equity was 35.9% over the last twelve months and averaged -14.6% over five years; we look for 15% on both.
Return on capital over 10%
Return on invested capital was 51.8%, above the 10% that usually covers the cost of capital.
Return on equity above the industry
Remitly Global's return on equity of 35.9% is above the Miscellaneous Business Services median of 6.8%.
Earnings over 5 years
Needs positive net income five years ago and in the latest year.
Net margin above its 5-year average
Net margin was 19.1% over the last twelve months, against a 5-year average of -7.4%.
Net margin above the industry
Remitly Global's net margin of 19.1% is above the Miscellaneous Business Services median of 3.8%.
Financial health5/6
Low debt
Debt is 0.2% of shareholders' equity, under the 40% we consider low.
Debt trend
Needs a balance sheet from five years ago with positive equity.
Debt covered by cash flow
Operating cash flow over the last twelve months equals 13936% of total debt.
Interest well covered
Operating income covers interest expense 21.6 times.
Short-term assets cover short-term debts
Current assets are 3.50 times current liabilities.
Low bankruptcy risk
The Altman Z-score is 9.00; above 3 is the safe zone and below 1.8 the distress zone.
Dividend0/6
No dividend
Remitly Global has not paid a dividend in the last twelve months.
Yield against Treasuries
No dividend.
Yield against the market
No dividend.
Dividend stability
No dividend.
Earnings cover
No dividend.
Cash-flow cover
No dividend.
Fair value
How we estimate itOur estimate per share
$32.95
The share price is 31% below this estimate.
| Method | Multiple used | Own 5Y median | Industry median | Value per share | Weight |
|---|---|---|---|---|---|
| P/E | 25.8× | – | 25.8× | $42.53 | 53% |
| EV/EBITDA | 15.7× | – | 15.7× | $22.01 | 47% |
| Earnings powerleft out, too far from the others | 10.3% cost of equity | – | – | $7.17 | – |
| Fair value | $32.95 | 100% | |||
Valuation over time
Using the earnings and balance sheet published at each date, not today's.
- P/E at month end
- Miscellaneous Business Services median 25.8
An estimate from reported numbers and market multiples, not a price target or investment advice. It can be far off for companies whose profits are about to change sharply.
Market risk
From the past year of daily prices.
Liquidity
Low risk
- Average value traded per day
- $75.17M
- Value traded per 1% price move
- $33.03M
Downside
Medium risk
- Typical loss in a bad month
- 21.1%
- Volatility (annualized)
- 56%
- Sharpe ratio, 1 year
- 1.36
- Beta to the S&P 500 (5Y)
- 1.09
Typical bad-month loss, week by week
Margins
Share of revenue, fiscal years 2018 to 2025
Operating margin
Net margin
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +29.4% | +35.8% | +44.8% | – | |
| Free cash flow | +180.0% | – | – | – |
Returns and balance sheet
8 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2018 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | 16.4% | 8.9% | |
| Return on assets | – | – | 5.5% | |
| Current ratio | – | 1.90 | 3.30 | |
| Debt to equity | – | – | 0.18 | |
| Net debt to EBITDA | – | – | -3.75× | |
| Interest coverage | – | -24.5× | 10.2× | |
| Capex to revenue | – | 0.8% | 1.8% | |
| Diluted shares | – | 21M | 218M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Remitly Global generated $630.53M from operations and spent $67.82M on capital expenditure, dividends and share buybacks. 65% of that went back into the business.
DuPont analysis
Return on equity split into margin, efficiency and leverage
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 4.2% | 1.32× | 1.61× | 8.9% |
| FY2024 | -2.9% | 1.23× | 1.72× | -6.2% |
| FY2023 | -12.5% | 1.09× | 1.72× | -23.3% |
| FY2022 | -17.4% | 0.99× | 1.38× | -23.7% |
| FY2021 | -8.5% | 0.93× | 3.68× | -28.8% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
- ProfitableNet income above zero$67.93M
- Cash generatingOperating cash flow above zero$325.08M
- Return on assets improvedROA up on the prior year-3.6% → 6.7%
- Earnings backed by cashOperating cash flow above net income$325.08M vs $67.93M
- Less leverageLong-term debt to assets fell0.0% → 10.6%
- Better liquidityCurrent ratio rose2.73 → 3.30
- No dilutionShare count did not rise195M → 218M
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose1.22 → 1.61
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