Remitly Global Inc. RELY

Name: RELY Crucible Score
Creator: Kaladin Capital Intelligence

UnknownUnknownN/A📅 Scored March 17, 2026

Price at analysis: $16.28

Crucible Score

60.2

C+

Quality × Value Composite

KQI — Quality

63.6

B-

Fundamental Quality Index

KVI — Value

56.1

Valuation Attractiveness Index

Crucible Verdict — RELY

Remitly Global Inc. (RELY) earns a C+ grade with solid moat durability (78) in the remittance market offset by poor diversification scores (27) and insider selling pressure. RELY trades at a 22% discount to fair value despite beating earnings 64% of the time over 22 quarters. The stock's upside depends on management's ability to expand beyond its core geographic markets.

— Kal, Kaladin Capital Intelligence

◆ KQI Quality Dimensions

Financial Quality

59.4

Growth Profile⚠

68.7

Moat Durability

78.2

Management Effectiveness⚠

58.3

Diversification & Resilience

27.0

Market Position

58.0

Weakest dimension: Diversification & Resilience (27.0)

◆ KVI Value Dimensions

DCF Margin of Safety

61.1

FCF Yield & Cash Returns

76.4

Relative Valuation

67.9

Growth-Adjusted Value

35.0

Historical Valuation

9.5

Macro Context

51.9

◆ DCF Valuation Scenarios

Bear Case

$10.52

Base Case

$19.85

Bull Case

$33.14

Price at Analysis

$16.28

Scenario	Fair Value	Rev CAGR (5yr)	Terminal Margin	WACC
🔴 Bear	$10.52	12.0%	8.0%	4.9%
🟢 Base	$19.85	18.0%	10.0%	4.7%
🟢 Bull	$33.14	22.0%	13.0%	4.5%

Key Assumptions: RELY shows explosive revenue growth from $459M to $1635M over 5 years (~29% CAGR) with a recent inflection to profitability (5% operating margin, $296M FCF in latest year). WACC is very low at ~4.7% due to the extremely low beta of 0.06 and minimal debt, which significantly amplifies present values. Operating margins are assumed to expand from the current 5% toward 8-13% at terminal year as the payments platform scales, though well below typical software margins given the transaction-processing nature of the business. FCF conversion is strong given low capex intensity (~1.8% of revenue) and favorable working capital dynamics.

◆ Financial Snapshot

Profitability

Gross Margin59.4%

Operating Margin4.8%

Net Margin4.2%

ROIC4.6%

ROE-29.7%

Balance Sheet

Balance SheetCR: 3.30

Cash ConversionFCF/EPS: 4.41x

Capital IntensityCapex/Rev: 1.8%

Altman Z-Score4.88 (Safe)

Piotroski F-Score6/9 (Good)

Growth

Revenue CAGR37.4% CAGR

Earnings CAGRInsufficient data

Growth ConsistencyCV: 1.78

Segment BreadthInsufficient segments

Quarterly TrendRev→+25%, Margin↑, Cash↓, Exp↓

Earnings CredibilityTends to Beat

◆ Analyst Consensus & Leadership

Leadership & Governance

CEO Ownership7.5%

Compensation2% performance-based

Insider ActivitySelling

Capital AllocationROIC 4.6% vs WACC 2.7%

Earnings Beat Rate64% (14/22)

◆ Related Companies in Our Universe

Other Unknown companies scored by the Crucible:

ADBE81.8A-NICE80.7A-DECK79.9A-INTU79.9A-EXEL78.3A-MTCH78.2A-TTD78.0B+

Methodology All Scores Crucible Briefs Performance @KaladinCI

Analysis conducted March 17, 2026 based on most recent SEC filings. Updated quarterly, after new SEC filings.

Point-in-time fundamental analysis. Not investment advice. Scores reflect company quality and valuation at time of analysis and may not reflect current market conditions.