Reliance Worldwide Corp Ltd

RWC: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	A$4.20	Tvcpy	Tdhwxlmx

Reliance Worldwide: Reassuring Trading Update Despite Sales Slippage in Europe

Brian Han

Oct 26, 2023

We maintain our AUD 3.90 per share fair value estimate for no-moat Reliance Worldwide, with shares trading at an 11% discount to our intrinsic assessment. A reassuring trading update for the first quarter of fiscal 2024 shows the group tracking largely in line with guidance provided in August 2023.

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