Resideo Technologies
REZINYSEUSD
- Source valuation snapshot. Not a live recalculation.
- Latest filed annual earnings; price snapshot date unavailable. Not forward P/E.
- Diluted earnings per share from the latest filed annual.
- $19.45 Prior regular-session close from the quote source.
- $19.51–$23.00 Regular-session low and high so far today.
- 7.5M Regular-session shares traded · Nov 11, 4:00 PM ET.
- Feb 23 projected Projected for 2027-02-23 from the company’s own results filings (SEC 8-K Item 2.02). The company has not confirmed the date.
- $15.90–$29.89 52-week trading low and high returned by the quote source.
Understand the Business
Why the Stock Moved
Period-matched expectations history is not yet available. Current metrics are not a substitute for a historical explanation.
The core investment thesis
Own REZI if its professional-channel home comfort, safety and distribution franchise keeps converting installed-base demand into better gross profit while FY2025's cash-flow and net-loss shock proves temporary.
REZI price history
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Investment thesis
What must happen next
Professional installers and trade customers continue to value Resideo's channel access and product availability enough that housing repair, retrofit and safety demand keeps converting into sales rather than shifting to direct-to-consumer or OEM-direct alternatives.StrengtheningMateriality: High
GAAP annual revenue increased from $6.242 billion in FY2023 to $6.761 billion in FY2024 and $7.472 billion in FY2025. If channel relevance holds, the company has a demand base to compound from; if it breaks, revenue growth can disappear before margins have time to recover.
Watch: Installers and contractors increasingly source directly from OEMs or online marketplaces instead of through Resideo/ADI.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP annual revenue increased from $6.242 billion in FY2023 to $6.761 billion in FY2024 and $7.472 billion in FY2025.
Open source ↗Product breadth, availability and channel position allow Resideo to protect price/mix against supplier inflation and commoditization rather than buying growth with lower merchandise margins.StrengtheningMateriality: High
GAAP annual gross profit rose from $1.696 billion in FY2023 to $1.901 billion in FY2024 and $2.196 billion in FY2025. This determines whether sales growth has economic value; if price/mix erodes, higher revenue can still destroy margin dollars.
Watch: Competitors such as Google Nest, Amazon Ring, ecobee, Alarm.com or low-cost private-label hardware make thermostats, cameras or connected-home devices more interchangeable.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP annual gross profit rose from $1.696 billion in FY2023 to $1.901 billion in FY2024 and $2.196 billion in FY2025.
Open source ↗Scale and execution discipline allow Resideo to convert improving gross profit into operating profit despite the structurally lower-margin nature of wholesale distribution.HoldingMateriality: Medium
GAAP annual operating income improved from $520 million in FY2024 to $607 million in FY2025. If operating leverage holds, gross-profit gains accrue to owners; if overhead, integration or fulfillment costs absorb them, the business remains a low-return distributor.
Watch: Warehouse, labor, freight or IT costs rise faster than gross profit, eliminating distribution operating leverage.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP annual operating income improved from $520 million in FY2024 to $607 million in FY2025.
Open source ↗The distribution engine regains working-capital discipline so inventory, receivables and supplier terms stop consuming cash faster than the business earns it.WeakeningMateriality: Medium
GAAP annual operating cash flow was positive at $440 million in FY2023 and $444 million in FY2024. This is the difference between an accounting turnaround and an investable equity; owners are paid in cash flow, not just operating income.
Watch: Customers stretch payment terms or receivables quality worsens, especially in contractor and dealer channels.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP annual operating cash flow was positive at $440 million in FY2023 and $444 million in FY2024.
Open source ↗Financing costs, legal/legacy obligations, impairments or acquisition-related charges do not continue to overwhelm operating profit.WeakeningMateriality: Medium
GAAP annual operating income was positive at $607 million in FY2025, showing the core operations still produced profit before below-the-line items. Even a healthy operating business will not create per-share value if below-the-line claims absorb the economics before they reach common shareholders.
Watch: Debt-funded acquisitions or refinancing raise interest burden and make equity value more sensitive to execution misses.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
GAAP annual operating income was positive at $607 million in FY2025, showing the core operations still produced profit before below-the-line.
Open source ↗
Full investment case & evidence
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Original research
Professional installers and trade customers continue to value Resideo's channel access and product availability enough that housing repair, retrofit and safety demand keeps converting into sales rather than shifting to direct-to-consumer or OEM-direct alternatives. If channel relevance holds, the company has a demand base to compound from; if it breaks, revenue growth can disappear before margins have time to recover.
Product breadth, availability and channel position allow Resideo to protect price/mix against supplier inflation and commoditization rather than buying growth with lower merchandise margins. This determines whether sales growth has economic value; if price/mix erodes, higher revenue can still destroy margin dollars.
Scale and execution discipline allow Resideo to convert improving gross profit into operating profit despite the structurally lower-margin nature of wholesale distribution. If operating leverage holds, gross-profit gains accrue to owners; if overhead, integration or fulfillment costs absorb them, the business remains a low-return distributor.
The distribution engine regains working-capital discipline so inventory, receivables and supplier terms stop consuming cash faster than the business earns it. This is the difference between an accounting turnaround and an investable equity; owners are paid in cash flow, not just operating income.
Financing costs, legal/legacy obligations, impairments or acquisition-related charges do not continue to overwhelm operating profit. Even a healthy operating business will not create per-share value if below-the-line claims absorb the economics before they reach common shareholders.
All standing thesis claims
Original report summary
its professional-channel home comfort, safety and distribution franchise keeps converting installed-base demand into better gross profit while FY2025's cash-flow and net-loss shock proves temporary.
Bull case and bear case
Bull case and bear case for Resideo Technologies
Where the evidence on Resideo Technologies disagrees: Mixed on the latest evidence (Nov 12, 2026). Of its 5 thesis points, 2 strengthening, 1 holding and 2 weakening.
Bull case: what the evidence supports
Professional installers and trade customers continue to value Resideo's channel access and product availability enough that housing repair, retrofit and safety demand keeps converting into sales rather than shifting to direct-to-consumer or OEM-direct alternatives.
Product breadth, availability and channel position allow Resideo to protect price/mix against supplier inflation and commoditization rather than buying growth with lower merchandise margins.
Scale and execution discipline allow Resideo to convert improving gross profit into operating profit despite the structurally lower-margin nature of wholesale distribution.
Bear case: what the evidence questions
The distribution engine regains working-capital discipline so inventory, receivables and supplier terms stop consuming cash faster than the business earns it.
Financing costs, legal/legacy obligations, impairments or acquisition-related charges do not continue to overwhelm operating profit.
Thesis-Break Engine
Thesis-break watch · Resideo Technologies
No break has crossed Resideo Technologies’s thesis. Its break conditions are checked against every new filing as it lands.
MARKET + FINANCIAL SNAPSHOT
The numbers behind the thesis
What Changed
- MixedReported results of operations (earnings release).
Resideo Technologies filed an SEC 8-K on 2026-11-10: Reported results of operations (earnings release). It is a dated development that tests the current thesis.
- MixedReported results of operations (earnings release).
Resideo Technologies filed an SEC 8-K on 2026-08-12: Reported results of operations (earnings release). It is a dated development that tests the current thesis.
- MixedDirector or principal officer change.
Resideo Technologies filed an SEC 8-K on 2026-08-07: Director or principal officer change. It is a dated development that tests the current thesis.
Risks / falsifiers
What could break the thesis
- Installers and contractors increasingly source directly from OEMs or online marketplaces instead of through Resideo/ADI.
- Competitors such as Google Nest, Amazon Ring, ecobee, Alarm.com or low-cost private-label hardware make thermostats, cameras or connected-home devices more interchangeable.
- Warehouse, labor, freight or IT costs rise faster than gross profit, eliminating distribution operating leverage.
- Customers stretch payment terms or receivables quality worsens, especially in contractor and dealer channels.
- Debt-funded acquisitions or refinancing raise interest burden and make equity value more sensitive to execution misses.
REZI news
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Financial statements
REZI income statement
Annual filed results · USD · Oldest to newest. Margins are calculated from the reported figures.
REZI: quick answers
- When does Resideo Technologies (REZI) report earnings next?
- Resideo Technologies's next results are projected for February 23, 2027, from the dates of its own results filings with the SEC. The company has not confirmed the date. It last reported on November 10, 2026. Earnings calendar
- What is REZI's short interest?
- As of October 30, 2026, 8.8M REZI shares were sold short, 5.80% of its shares outstanding, down 9.6% from the count before. At the stock's average daily volume that is 7.1 days to cover. FINRA publishes the count twice a month. REZI short interest history
- Have members of Congress traded REZI?
- Reports made public in the last 90 days disclose 1 trade in REZI by 1 filer: 0 purchases and 1 sale. They are filed under the STOCK Act by members of Congress, the President and senior officials. Every disclosed REZI trade
- Which well-known investors own REZI?
- 1 of the 37 well-known funds tracked here reported REZI shares in their latest 13F filing. By share of the fund's portfolio: Miller Value Partners (Bill Miller), 0.5%. Fund portfolios
REZI in well-known investors’ portfolios
1 of 37 funds reported REZI shares in their latest 13F filing. A 13F shows quarter-end positions and arrives up to 45 days later.
| Fund | Of its portfolio | Value | Change | Quarter |
|---|---|---|---|---|
| Bill MillerMiller Value Partners | 0.51% | $2.1M | −1.2% | Q2 2026 |