Stitch Fix, Inc. (SFIX) valuation at a glance
- Price
- $2.91
- Market cap
- $344M
- P/S (TTM)
- 0.3×
CompaniesSFIX
SFIX
Stitch Fix, Inc.
Consumer CyclicalOnline ApparelUnited StatesNet CashTurnaround
Overview
$2.91-1.0%
Market Cap
$344M
SEC filings
P/E (TTM)
–
SEC filings
Rev Growth YoY
–
SEC filings
Gross Margin
43.7%
SEC filings
FCF Yield
5.3%
Calculated from SEC filings
Fair Value
Not established
Yahoo chart 2026-09-16
Conviction
3/5Can a debt-free styling service whose 229M USD of cash and investments cover over half its market value keep a 2.3M client base while buying back stock?
Research Depth
ScreeningDeep ResearchFull Model
Updated 1d ago
Quality Snowflake
Overall 56/100
Value2/2
Futuren/a
Past2/4
Health3/4
Dividend0/1
Each axis scores the checks for which data is available (filled = pass, hollow = no data). Computed from the sourced metrics on this page, not a third-party rating.
Thesis
Stitch Fix sells personalized apparel through stylist-curated shipments (Fixes) and a direct-buy channel (Freestyle) in the United States. It screens as deep value because the balance sheet is clean: the Q3 FY2026 10-Q (quarter ended May 2, 2026) shows 87.3M USD of cash and equivalents plus 142.1M USD of investments, a 50.0M USD revolver with no outstanding borrowing, and 201.5M USD of stockholders equity, against a market value of roughly 388M USD at the 2026-09-16 Yahoo close of 2.91 USD on 133.4M shares. The company also started using its 150M USD buyback, repurchasing 4.52M Class A shares for 15.1M USD in the quarter. The counter-evidence is the client base: active clients fell from 2,508K at August 3, 2024 to 2,309K at August 2, 2025 and were flat at 2,309K at May 2, 2026, so recent revenue growth (Q3 net revenue up 4.7% year over year) comes from higher spend per client, not more clients, and the company still reports GAAP net losses (10.5M USD for the nine months). Confirmation would be a return to sequential client growth alongside positive free cash flow in the FY2026 10-K due after the 2026-09-23 results.
Bull Case
Net cashThe Q3 FY2026 10-Q reports 87.3M USD of cash and 142.1M USD of investments with no borrowing under the 50.0M USD Citibank revolver (https://www.sec.gov/Archives/edgar/data/1576942/000162828026042504/sfix-20260502.htm).
BuybackThe company repurchased 4,519,841 Class A shares for 15.1M USD in the quarter ended May 2, 2026, its first buybacks since fiscal 2022, leaving 104.9M USD under the 2022 authorization per the 10-Q.
Revenue per clientNet revenue per active client rose from 542 USD at May 3, 2025 to 578 USD at May 2, 2026, and nine-month operating cash flow was 30.0M USD versus 18.6M USD a year earlier per the 10-Q.
Bear Case
Client declineActive clients were 2,309K at May 2, 2026 versus 2,353K a year earlier, and the FY2025 10-K states the count fell in each of fiscal 2023, 2024 and 2025 due to inability to attract and retain clients (https://www.sec.gov/Archives/edgar/data/1576942/000162828025042782/sfix-20250802.htm).
GAAP lossesNet loss from continuing operations was 28.7M USD in fiscal 2025 and 10.5M USD for the nine months ended May 2, 2026, with stock-based compensation of 37.0M USD in those nine months per the 10-Q.
Dual classClass B stock carries ten votes per share; the 10-Q cover shows 15,139,618 Class B and 118,286,238 Class A shares as of June 5, 2026, giving Class B holders a majority of votes with about 11% of the economics.
Key Metrics
Market Cap
$344M
SEC filings
Enterprise Value
$331M
Calculated from SEC filings
Revenue (TTM)
$1.33B
SEC filings
P/E (TTM)
–
SEC filings
Forward P/E
–
Yahoo chart 2026-09-16
P/S (TTM)
0.3×
SEC filings
P/B
1.9×
SEC filings
EV/EBITDA
–
Calculated from SEC filings
PEG
–
Calculated from SEC filings
Revenue Growth
–
SEC filings
Gross Margin
43.7%
SEC filings
Operating Margin
-2.1%
SEC filings
Net Margin
-1.4%
SEC filings
Free Cash Flow
$18M
SEC filings
FCF Yield
5.3%
Calculated from SEC filings
Debt / Equity
0.4×
SEC filings
Current Ratio
1.5×
SEC filings
Short Interest
14.1%
SEC filings
Institutional Own.
91.4%
SEC filings
Insider Own.
4.9%
SEC filings
Shares Out.
118.3M
SEC filings
Float
103.2M
SEC filings
Valuation
Price vs Fair Value
Now $2.91
DCF Summary
DCF awaiting Phase 2+
Discounted cash-flow model is built once research reaches the deep-research stage.
Historical Multiples
Multiple history pending
This section is being deepened.
Peer Comparison
| Ticker | Mkt Cap | P/E | P/S | EV/EBITDA | Rev Growth | Gross Mgn | Net Mgn |
|---|---|---|---|---|---|---|---|
| SFIX | $390M | – | 0.3× | – | +5.0% | 44.0% | -1.0% |
| RENT | $65M | 0.1× | 0.2× | 23.7× | +21.0% | 75.0% | 12.0% |
| TDUP | $325M | – | 1.0× | – | +17.0% | 80.0% | -7.0% |
| REAL | $1.17B | – | 1.6× | 56.8× | +17.0% | 74.0% | -11.0% |
| RVLV | $1.46B | 20.1× | 1.1× | 13.6× | +12.0% | 54.0% | 6.0% |
| URBN | $6.63B | 12.1× | 1.0× | 9.2× | +10.0% | 36.0% | 9.0% |
Financials
Income statement pending
Awaiting source-linked statement data.
Balance sheet pending
Awaiting source-linked statement data.
Cash flow pending
Awaiting source-linked statement data.
USD; fiscal year ends the Saturday nearest July 31 (FY2025 ended 2025-08-02, FY2026 ended 2026-08-01); statements are from the FY2025 10-K filed 2025-09-25 and the Q3 FY2026 10-Q filed 2026-06-11, the FY2026 10-K is not yet filed. Source: 10-Q ↗
Catalysts
Q4 FY '26
Earningshigh relevance
Q4 and full-year FY2026 results plus FY2027 outlook
Company release dated 2026-09-02 set the results for after the close on 2026-09-23 with a call at 5:00pm ET (https://investors.stitchfix.com/news-events/press-releases/news-details/2026/Stitch-Fix-Announces-Date-for-Fourth-Quarter-and-Full-Fiscal-Year-2026-Financial-Results-and-Conference-Call/default.aspx). The fiscal year ended August 1, 2026; the 10-K should follow within weeks.
Q1 FY '27
Corporate
FY2026 10-K: active client count and buyback pace
The FY2025 10-K was filed 2025-09-25; the FY2026 10-K will show whether the 2,309K client count stayed flat and how much of the 104.9M USD remaining buyback capacity was used after May 2, 2026.
Q1 FY '27
Earnings
Q1 FY2027 results (quarter ending around November 1, 2026)
Prior-year Q1 10-Q was filed 2025-12-05 (https://www.sec.gov/Archives/edgar/data/1576942/000162828025055606/sfix-20251101.htm); the fall quarter shows holiday demand and whether net revenue per client keeps rising.
Risks
| Risk | Category | Severity | Probability | Impact on Thesis |
|---|---|---|---|---|
| Continued erosion of the active client base | Operational | High | Medium | Revenue depends on 2.3M active clients; the 10-K discloses three straight fiscal years of client declines, so per-client gains can only offset shrinkage for so long. |
| Discretionary spending weakness | Market/Macro | Medium | Medium | The 10-Q states the company expects macroeconomic uncertainty to negatively impact consumer discretionary spending through the rest of fiscal 2026. |
| Stock-based compensation dilution offsets buybacks | Financial | Medium | High | Nine-month stock-based compensation of 37.0M USD exceeded the 15.1M USD spent on repurchases, and 5.3M shares were issued on award settlements in the same period per the 10-Q. |
| Dual-class control limits shareholder influence | Governance | Medium | High | Class B ten-vote shares let insiders and affiliates decide director elections and any sale of the company regardless of Class A economic ownership. |
| Competition from rental, resale and marketplace apparel models | Competition | Medium | Medium | Lower-cost alternatives for discovery and fit make client acquisition more expensive; the 10-K cites decreased marketing spend and competition as revenue risks. |
Technical Snapshot
52-Week Range
–$2.91–
RSI (14)
n/a
insufficient history
50-Day MA
–
insufficient history
200-Day MA
–
insufficient history
Avg Vol (30d)
vs average
Support Levels
Resistance Levels
Technical inputs: SEC filings. See the record-specific source notes for measurement basis.
Ownership & Insider Activity
Institutional Holdersvia Source-linked
Institutional holder details unavailable
This research record does not include a holder-level table.
Insider Activity
Founder Katrina Lake is Executive Chairperson and Class B stock (15.1M shares, ten votes each) gives insiders and affiliates majority voting power per the FY2025 10-K and Q3 FY2026 10-Q. Recent direction is selling: Form 144 notices by former affiliate Anthony Bacos covered 70,000 shares around 2026-08-31 and 31,126 shares around 2026-09-08, and another Form 144 was filed 2026-09-14 (https://www.sec.gov/Archives/edgar/data/1576942/000192109426001014/xsl144X01/primary_doc.xml); Form 4 filings through 2026-08-05 are mostly award settlements.
| Name | Title | Action | Shares | Price | Date | Value |
|---|---|---|---|---|---|---|
| Bacos Anthony | Chief Prod/Technology Officer | Sell | 50K | $4.09 | 2026-08-03 | $204.4K |
| Bacos Anthony | Chief Prod/Technology Officer | Sell | 20K | $4.09 | 2026-08-03 | $81.7K |
| Bacos Anthony | Chief Prod/Technology Officer | Sell | 50K | $3.77 | 2026-07-27 | $188.7K |
| Bacos Anthony | Chief Prod/Technology Officer | Sell | 20K | $3.74 | 2026-07-27 | $74.8K |
| Bacos Anthony | Chief Prod/Technology Officer | Sell | 50K | $3.79 | 2026-07-20 | $189.3K |
| Bacos Anthony | Chief Prod/Technology Officer | Sell | 20K | $3.79 | 2026-07-20 | $75.7K |
Peer Comparison
| Ticker | Mkt Cap | P/E | P/S | EV/EBITDA | Rev Growth | Gross Mgn | Net Mgn |
|---|---|---|---|---|---|---|---|
| SFIX | $390M | – | 0.3× | – | +5.0% | 44.0% | -1.0% |
| RENT | $65M | 0.1× | 0.2× | 23.7× | +21.0% | 75.0% | 12.0% |
| TDUP | $325M | – | 1.0× | – | +17.0% | 80.0% | -7.0% |
| REAL | $1.17B | – | 1.6× | 56.8× | +17.0% | 74.0% | -11.0% |
| RVLV | $1.46B | 20.1× | 1.1× | 13.6× | +12.0% | 54.0% | 6.0% |
| URBN | $6.63B | 12.1× | 1.0× | 9.2× | +10.0% | 36.0% | 9.0% |
Recognizable sector comparables. Source basis: SEC filings; lowest multiple in each column highlighted. Loss-making peers show no P/E.
Research Notes
2026-09-17SEC 10-Q
Balance sheet and buyback at May 2, 2026
The Q3 FY2026 10-Q filed 2026-06-11 shows cash of 87.3M USD, investments of 142.1M USD, no borrowing under the 50.0M USD revolver (extended to December 11, 2028 by a December 2025 amendment), operating lease liabilities of about 74.5M USD, and stockholders equity of 201.5M USD. The company repurchased 4,519,841 Class A shares for 15.1M USD in the quarter, leaving 104.9M USD of authorization. Nine-month free cash flow per the company's reconciliation was 15.4M USD versus 6.5M USD a year earlier.
2026-09-17SEC 10-Q
Client count trend
Active clients (52-week trailing) were 2,353K at May 3, 2025, 2,309K at August 2, 2025, 2,307K at November 1, 2025, 2,288K at January 31, 2026 and 2,309K at May 2, 2026. Net revenue per active client rose each quarter from 542 USD to 578 USD over the same span. Q3 net revenue was 340.3M USD, up 4.7% year over year, and the 10-Q says no client exceeded 10% of revenue.
2026-09-17Research
Pre-results setup
The stock closed at 2.91 USD on 2026-09-16 (Yahoo chart endpoint), near its 52-week low, with no 8-K, S-3, or 13D since 2026-09-01 according to the SEC submissions feed (https://data.sec.gov/submissions/CIK0001576942.json). Third-party consensus cited in research expects Q4 revenue near the company's 322-327M USD guide range; this figure is from a secondary source and is unverified against a filing.
Sources
Stitch Fix, Inc. valuation questions
What is Stitch Fix, Inc.'s market cap?
Stitch Fix, Inc. (SFIX) has a market capitalization (its market value, often searched as "net worth") of $344M, and an enterprise value of $331M.