RAL
Ralliant Corporation

Ralliant CorporationRAL

Technology · Electronic Components
67.68USD
+7.72%
Nov 08, 2026
RAL overview ready
Supplier of Grid Asset Monitoring and Diagnostic Equipment
Ralliant is an enabling supplier rather than a grid-construction contractor or power owner.
Primary theme is lagging
Test & Measurement is lagging (-2.7pp vs SPY over 21 sessions; 2 of 5 members ahead of SPY).
Constructive pullback in an uptrend
Longer-term context reads new trend, with a near-term setup of constructive pullback.
The setup is constructive, but the underlying structure is still poor.
Demanding valuation
The price embeds expectations that run ahead of the growth it delivers per turn of revenue multiple.
Solid fundamentals
Free cash flow yield is strong.
Primary risk
Declining revenue growth.
Market Nov 6Filing Oct 2Price action Nov 7Research Sep 21

Conviction Level

PriceAction6.3BusinessPerformance7.0BusinessQuality5.1Valuation3.1ThemeMomentum1.0Improving — Revenue growth has accelerated across 4 consecutive quarters, rising from +1.2% to +17% year over year. Diluted EPS growth has strengthened to +120% year over year ($0.77), up from -32%. That earnings comparison is against a weak year-ago quarter. — From filed financial statements. Describes the recent trajectory of the business, not the stock. 20 of the 100 Conviction points.

Conviction uses Price Action, Business Performance, Business Quality, Valuation. Theme Momentum is research context, not an input.

Theme momentumPrimary theme · group context, not entry timing
vs SPY
−2.7pp
Theme return
−7.7%
Beating SPY
2 of 5
21 sessions to Nov 6, 2026 · Theme Leadership V2
Price
Loading price history…

Price Action

Constructive pullback in an uptrend
Longer-term context reads new trend, with a near-term setup of constructive pullback.
The setup is constructive, but the underlying structure is still poor.
EntryReset + recovery

The recent reset toward the daily SMA100 aligned with support at the weekly EMA21. Daily structure is recovering above the fast averages, improving the current entry location.

Key Financials

Market Cap
$7.5B
Avg Volume (60D)
1.5M
60 sessions
Revenue Growth YoY
-4.0%
FY2025 vs FY2024
Gross Margin
+51.6%
Trailing twelve months
Operating Margin
-48.3%
Trailing twelve months
Free Cash Flow Yield
+4.0%
Distance from 200DMA
+15.0%
P/E
N/M
EV / Sales
3.6x
Market metrics as of Nov 6, 2026
Financial results for the period ended Oct 2, 2026
Filed balance-sheet data as of Oct 2, 2026

Business Performance

Improving

Revenue growth has accelerated across 4 consecutive quarters, rising from +1.2% to +17% year over year. Diluted EPS growth has strengthened to +120% year over year ($0.77), up from -32%. That earnings comparison is against a weak year-ago quarter.

Latest reported: Q3 FY2026, ended Oct 2
Revenue growthAccelerating
+17%
$620M in Q3 FY2026 · YoY
YoY growth, last 4 quarters
  1. +1.2%
  2. +11%
  3. +13%
  4. +17%
Earnings growthAccelerating
+120%
Diluted EPS $0.77 vs $0.35 a year earlier · GAAP
Diluted EPS YoY (GAAP), last 4 quarters
  1. n/a
  2. -32%
  3. +21%
  4. +120%
Operating marginExpanding
18.9%
+9.1 pp YoY · gross margin 53.1% (+2.4 pp)
The comparison is against a weak year-ago quarter

Business Quality

5.1 / 10

How well the business earns on its assets, converts earnings to cash and funds itself — read from its SEC filings.

Fundamentals & Valuation

Two of the three valuation perspectives say expensive; peers is the dissenting view.
Ralliant Corporation has an Expensive valuation stance because the price embeds expectations that run ahead of the growth it delivers per turn of revenue multiple. It trades at 3.6x revenue, which requires sustained delivery to be justified.

Company Research

Thesis
Ralliant is an enabling supplier rather than a grid-construction contractor or power owner. Its Qualitrol business provides monitoring, protection, diagnostic equipment, data, and analytics for high-voltage grid assets, while the broader company also has unrelated test-and-measurement, defense/space, and industrial-sensor operations.
Opportunity
High opportunity
Utility spending on sensors, diagnostics, condition monitoring, and analytics that extend the life, reliability, and usable capacity of generation, transmission, and distribution assets as grid loading and complexity increase.
Key risk
Declining revenue growth.

Economic classification

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Business & Markets

Technology · Electronic Components
What they do

Ralliant Corporation designs, develops, manufactures, sells, and services precision instruments and engineered products globally through its Test and Measurement and Sensors and Safety Systems segments.

How it earns

The company generates revenue primarily through transactional sales of instruments, systems, software, and related services.

Products & services
Precision test and measurement instruments
Monitoring and diagnostic equipment for high-voltage grid assets
Customers & end markets
Utilities and grid operators
Industrial and defense sectors
Market position

Niche supplier specializing in precision instruments and grid asset monitoring solutions.

Demand drivers
Medium cyclicality

Demand is influenced by utility capital expenditure cycles and industrial investment trends.