Is the business good?
How good a business is RELY?
Remitly Global, Inc. earns 30% on the capital it employs against a 9.0% cost of capital, so the business is worth more the bigger it gets.
30%
Return on invested capital · cost of capital 9.0% · 21 points above what the capital costs: growth creates value
- Operating margin
- 9.4%
Operating margin · Software - Infrastructure median 6.1% · 12 months to Q2 2026
- Cash conversion
- 1.27×
Cash conversion · every dollar of reported profit arrived as cash, and more
- Share count, year on year
- +0.95%
Share count, year on year · flat: no meaningful dilution
| Year | Operating margin |
|---|---|
| FY2020 | −11% |
| FY2021 | −8.7% |
| FY2022 | −19% |
| FY2023 | −12% |
| FY2024 | −3.1% |
| FY2025 | 4.7% |
Details›
- Operating margin12 months to Q2 2026
- 9.4%
- Net margin12 months to Q2 2026
- 17%
- Free cash flow margin
- 21%
- R&D as % of revenue
- 17%
- Revenue, trailing twelve months
- $1.81B
- Free cash flow, trailing twelve months
- $388M
- Net income, trailing twelve months
- $305M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 30%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.
Software - Infrastructure
Ranks #46 of 78 by Smart Score