Arhaus, Inc. (ARHS)

Retail-Furniture Stores

Latest Price

$8.10

TTM P/E

16.20

Normalized P/E

12.74

Div Yield

Book Value

2.93

P/B Ratio

2.76

Valuation metrics

EPS: $0.48

Book value / share: $2.96

Formula: √(22.5 × EPS × BVPS)

Graham Number

$5.65

30% downside

Norm. op. income: $89M (median of 5yr)

Tax rate: 25%

Discount rate: 10%

Growth assumption: zero (EPV is a no-growth value)

Earnings Power Value

$6.48

20% downside

Base FCF: $59M (median of recent 5yr)

Growth: 5%/yr (median YOY, capped at 25%)

Discount rate: 10%

Terminal growth: 3%

Projection horizon: 10 years

DCF Fair Value

$8.90

+10% upside

EPS: $0.48

Target P/E: 13×

Formula: EPS × P/E

P/E Fair Value

$6.24

23% downside

38.3% held by institutions

Institution	Shares	Value	Ownership %	Change	Filing Date
BlackRock, Inc.	4.51M	$37.0M	3.19%	+198.9K	2026-06-30
SIGNATUREFD, LLC	3.07M	$25.0M	2.17%	+2.25M	2026-06-30
VANGUARD PORTFOLIO MANAGEMENT LLC	2.62M	$22.0M	1.85%	+116.0K	2026-06-30
Long Focus Capital Management, LLC	2.45M	$20.0M	1.73%	+480.7K	2026-06-30
EMERALD ADVISERS, LLC	2.38M	$19.0M	1.68%	+538.3K	2026-06-30
VANGUARD CAPITAL MANAGEMENT LLC	2.33M	$19.0M	1.65%	+65.6K	2026-06-30
Kanen Wealth Management LLC	2.20M	$18.0M	1.55%	--	2026-06-30
D. E. Shaw & Co., Inc.	2.05M	$17.0M	1.45%	+271.3K	2026-06-30
BANK OF AMERICA CORP /DE/	2.01M	$16.0M	1.42%	-325.7K	2026-06-30
Meros Investment Management, LP	1.68M	$14.0M	1.19%	+485.1K	2026-06-30