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Torrid Holdings Inc. (CURV) stock

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NYSE: CURV NYSE Apparel Retail Next results ~December 2, 2026

D Fundamentals grade

Torrid Holdings Inc. is a US-listed company in the apparel retail industry. Its financial year ends in January.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$3.0

Valuation models combined (2)

Base case. Range ~$2.6–$4.6. Weighted average of 2 models (growth cash-flow model, forward price-to-sales vs peers), the growth cash-flow model counting double.

Price vs value

No Buy/Hold/Sell rating is issued: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

Torrid Holdings Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 4 selling0 purchases and 6 sales by directors and officers, last 12 monthsInsider trades
  • Funds62 adding, 24 cuttingOf 11 active managers that changed their stake, 10 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Torrid files

Where Torrid stands after its latest 10-Q

Revenue for the twelve months to August 2026 was $949m, down 11.2% on a year earlier, a steeper fall than the 10.1% decline a quarter earlier. That puts it 14 of 15 for growth among the apparel retail companies we cover. Free-cash-flow margin fell to -1.4% from -0.1% a year earlier. The diluted share count is down 5.6% on a year earlier, which lifts each remaining share. Against its peers on growth, profitability, cash generation and balance sheet, it grades D. It passes 0 of our 4 financial-health checks. Our valuation models combined value is $3.29 a share, against a share price of $2.01.

Source: 10-Q filed September 10, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~December 2, 2026 (estimated)

Torrid Holdings Inc.'s trailing-twelve-month revenue fell 11.2% year on year, with a free-cash-flow margin of -1.4%. Where it stands out: change in share count of -5.6% ranks 4 of 27 apparel retail companies we cover. Where it lags: long-term debt as % of assets of 66.8% ranks 13 of 13 apparel retail companies we cover.

Current signal Results well ahead of expectations: Reported earnings per share beat the analysts' consensus estimate by 259% in the quarter to 2026-07-31, the 3rd beat in the last four quarters.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Shrinking share count. Diluted shares fell 5.6% in a year, so each share owns more of the business.
  • Estimates rising. Analysts' consensus for next year's earnings per share has risen 61.6% over 90 days.

Things to watch

  • Revenue shrinking. Revenue fell 11.2% over the last 12 months.
  • Burning cash. Free cash flow was -1.4% of revenue over the last 12 months.
  • Volatile shares. Over the past year the shares showed annualised volatility of 80% and a beta of -0.0 against the S&P 500.
  • Below peers: long-term debt as % of assets. Long-term debt as % of assets of 66.8% ranks 13 of 13 apparel retail companies we cover (median 11.6%).
  • Below peers: change in growth rate. Change in growth rate of -1.1pp ranks 22 of 28 apparel retail companies we cover (median -0.2pp).
  • Heavily shorted. 16.1% of the shares available to trade are sold short (21.1 days of average volume to cover).

Latest results: FY2027 Q2

Filed September 10, 2026
Earnings per share
$0.05 against an average estimate of -$0.03: beat by 259.1%
Revenue
$232m, down 11.8% on a year earlier
Share reaction
+7.5% in the first session after the results on September 3, 2026, against +0.7% for the S&P 500
Guidance given
net sales $230m to $235m (third quarter of fiscal 2026); adjusted EBITDA $15m to $20m (third quarter of fiscal 2026)
Next report
December 2, 2026; average EPS estimate $0.01

Torrid's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+4.5%
  • 1 week+27.5%
  • 1 month+2.0%
  • This year+160.7%
  • 1 year+104.0%
  • 5 years-85.3%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$949M
Operating margin
1.9%
Net margin
-0.9%
EPS (TTM, diluted)
$-0.09

Growth

Revenue growth
−11.2%
Change in growth rate
−1.1 pts
Share count change
−5.6%

Cash

Free cash flow (TTM)
-$13.3M
FCF margin
-1.4%
Stock pay % of revenue
0.6%

Earnings

Last results
September 3, 2026
Next results (est.)
December 2, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Announcement
  2. Announcement
  3. Leadership
  4. Announcement
  5. Results
  6. Guidance
  7. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Torrid Holdings Inc. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

Our value per share comes from a discounted-cash-flow model of Torrid Holdings Inc.'s free cash flow after stock-based pay ( $5.7M, FY2027 Q2 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Torrid Holdings Inc. as an operating company, with every model that fits that kind of business. Cost of equity 8.4%: the 10-year Treasury yield (4.9%) plus a beta of 0.77 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$2.6 ~$1.1–$3.6 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$0.8 ~$0.6–$1.1 Left out: far from the other models (more than 3x away from their median)
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: book value or earnings not available
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Forward price-to-sales vs peers Next year's consensus sales per share times peers' typical forward price-to-sales; only when earnings are negative. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$4.6 ~$4.1–$11 Included, half weight
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. — Does not apply: revenue and margins don't support a positive value
Combined value Weighted average of the models that apply: the primary model (growth cash-flow model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$3.0 ~$2.6–$4.6 2 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Torrid Holdings Inc. with Apparel Retail in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 20222023202420252026Now
Share price$8.82$3.71$4.97$7.06$1.15$2.55
Market value$969m$388m$519m$746m$117m$253m
+ Net debt (− = net cash)−$29m−$14m−$12m−$49m−$20m$282m
Enterprise value$940m$374m$507m$698m$97m$535m
Multiples
Price / sales 0.7x0.3x0.5x0.7x0.1x0.3x
Price / earnings —7.7x44.7x45.7x——
Price / free cash flow 9.3x12.9x30.9x11.8x——
EV / EBITDA 11.4x2.7x5.3x7.4x1.7x11.6x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

21 /100

Weak moat

How hard Torrid's competitive advantage looks for rivals to wear away, judged from 6 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Net income has been a median 1.8% of total assets over 6 years.

  • Pricing power 12 / 20

    Gross margin has been a median 36.4%, moving by 2.5 percentage points (standard deviation) across 6 years.

  • Durability 1 / 20

    Operating margin has been a median 4.3%; its worst year was 0.2%.

  • Cash conversion 8 / 20

    Free cash flow was positive in 4 of 6 years, at a median 2.2% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (26 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: December 2, 2026, after the close. Analysts expect revenue of $232m and EPS of $0.01 (range −$0.01 to $0.03) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $0.08 +220% $951m −5%
Next $0.06 −29% $966m +2%

Next year's EPS estimate has moved +61.6% in 90 days, across 7 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −467.5% on 90 days ago. In the last 30 days, 6 analysts raised Torrid Holdings Inc.'s forecast and 0 cut it.

Consensus EPS forecast Torrid Holdings Inc., last 90 days
−$0.05 $0.00 $0.05 $0.10 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: −$0.02 Current fiscal year, 60 days ago: −$0.02 Current fiscal year, 30 days ago: $0.08 Current fiscal year, 7 days ago: $0.08 Current fiscal year, Now: $0.08 $0.08 Next fiscal year, 90 days ago: $0.04 Next fiscal year, 60 days ago: $0.04 Next fiscal year, 30 days ago: $0.06 Next fiscal year, 7 days ago: $0.06 Next fiscal year, Now: $0.06 $0.06

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago −$0.02$0.04
60 days ago −$0.02$0.04
30 days ago $0.08$0.06
7 days ago $0.08$0.06
Now $0.08$0.06

Earnings against estimates

Quarter toEstimateActualSurprise
Jul 2026 −$0.03 $0.05 +259.1%
Apr 2026 −$0.01 $0.00 +100.0%
Jan 2026 −$0.13 −$0.08 +36.0%
Oct 2025 −$0.02 −$0.06 −223.1%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, September 3, 2026
  • Net sales full year fiscal 2026 $940m to $960m Raised
    “Net sales between $940 million and $960 million.” source
  • Net sales third quarter of fiscal 2026 $230m to $235m
    “Net sales between $230 million and $235 million.” source
  • Adjusted EBITDA full year fiscal 2026 $76m to $86m Non-GAAP Raised
    “Adjusted EBITDA (1) between $76 million and $86 million.” source
  • Capital expenditures full year fiscal 2026 $8m to $10m Raised
    “Capital expenditures between $8 million and $10 million.” source
  • Adjusted EBITDA third quarter of fiscal 2026 $15m to $20m Non-GAAP
    “Adjusted EBITDA (1) between $15 million and $20 million.” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

How our valuation uses these forecasts

Our cash-flow model grows Torrid Holdings Inc.'s revenue by +1.9% next year and +3.3% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+1.1%, weight 51%) , management guidance (+1.0%, weight 21%) and the company's own record (+4.0%, weight 28%) . How the weights are set.

Analyst recommendations

7 analysts, Nov 2026
Buy114%
Hold571%
Sell114%

Monthly trend

  1. Nov 20261517
  2. Oct 20261517
  3. Sep 20261517

Counts of recommendations published by analysts covering Torrid Holdings Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
16.1%
of tradable shares
Days to cover
21.12
at average volume
Short interest, 1 month
−6%
to October 15, 2026
Held by institutions
91%
of shares
Held by insiders
5.5%
of shares
Employees
1,530
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +104.0%

$1.25 on October 31, 2025 to $2.55

ThenNowEffect
Revenue (last 12 months) $1.1bn $949m −11.2%
P/S multiple 0.1x 0.3x +116.8%
Share count 105m 99m +5.9%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

Last 3 years −5.2%

$2.69 on November 3, 2023 to $2.55

ThenNowEffect
Revenue (last 12 months) $1.2bn $949m −19.9%
P/S multiple 0.2x 0.3x +12.9%
Share count 104m 99m +4.8%

Biggest factor: revenue. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 20222023202420252026 to date
Return
CURV−70%+95%−9%−81%+161%
Industry peers (median)−40%+5%+11%+11%−8%
S&P 500−18%+26%+25%+18%+11%
Months that ended higher
CURV17%50%50%25%64%
S&P 50042%67%75%75%46%
Largest fall from a high during the year
CURV−74%−72%−65%−86%−42%
S&P 500−25%−10%−8%−19%−9%

Worst fall since July 1, 2021: 97% from August 24, 2021 to December 15, 2025. Getting back needed a 3126% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$0.97 – $2.75
From 52-week high
−7.3%
vs 50-day average
+10.6%
vs 200-day average
+37.3%
Volatility (1 year)
80%
Beta vs S&P 500
-0.01

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
7 up, 5 down
typical move ±11.7%
After a week
5 up, 7 down
typical move ±13.6%
After a month
7 up, 5 down
typical move ±29.5%
Results releasedNext dayS&P 500 next day5 days21 days
September 3, 2026 +7.5% +0.7% −0.9% +8.4%
June 4, 2026 +18.0% −2.2% +36.0% +33.8%
March 19, 2026 +26.0% −1.7% +35.4% +74.0%
December 3, 2025 −14.4% +0.4% −14.4% −15.9%
September 4, 2025 −24.6% +0.5% −18.2% −25.8%
June 5, 2025 −3.1% +0.5% −2.8% −47.0%
March 20, 2025 +2.7% −0.3% +2.5% −4.6%
December 3, 2024 −24.9% +0.7% −11.4% +24.3%
September 4, 2024 +2.6% −0.4% −20.0% −43.8%
June 12, 2024 −0.2% +1.0% +0.2% +32.6%
March 28, 2024 +2.0% −0.2% −1.1% +9.8%
December 7, 2023 +14.2% +1.2% +20.3% +34.0%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Torrid Holdings Inc. in five measures

Fundamentals grade D
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Torrid Holdings Inc.
$900M $1B $1.1B $1.2B FY24 Q3 FY25 Q2 FY26 Q1 FY27 Q2 Revenue (TTM), FY24 Q3: $1.2B Revenue (TTM), FY24 Q4: $1.2B Revenue (TTM), FY25 Q1: $1.1B Revenue (TTM), FY25 Q2: $1.1B Revenue (TTM), FY25 Q3: $1.1B Revenue (TTM), FY25 Q4: $1.1B Revenue (TTM), FY26 Q1: $1.1B Revenue (TTM), FY26 Q2: $1.1B Revenue (TTM), FY26 Q3: $1B Revenue (TTM), FY26 Q4: $1B Revenue (TTM), FY27 Q1: $979.9M Revenue (TTM), FY27 Q2: $948.8M $948.8M

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Revenue (TTM)
FY24 Q3 $1.2B
FY24 Q4 $1.2B
FY25 Q1 $1.1B
FY25 Q2 $1.1B
FY25 Q3 $1.1B
FY25 Q4 $1.1B
FY26 Q1 $1.1B
FY26 Q2 $1.1B
FY26 Q3 $1B
FY26 Q4 $1B
FY27 Q1 $979.9M
FY27 Q2 $948.8M
Revenue growth, TTM YoY Torrid Holdings Inc.
-15% -10% -5% 0% FY24 Q3 FY25 Q2 FY26 Q1 FY27 Q2 Revenue growth, TTM YoY, FY24 Q3: -11.2% Revenue growth, TTM YoY, FY24 Q4: -10.6% Revenue growth, TTM YoY, FY25 Q1: -8.9% Revenue growth, TTM YoY, FY25 Q2: -4.3% Revenue growth, TTM YoY, FY25 Q3: -3.3% Revenue growth, TTM YoY, FY25 Q4: -4.2% Revenue growth, TTM YoY, FY26 Q1: -4.2% Revenue growth, TTM YoY, FY26 Q2: -5.8% Revenue growth, TTM YoY, FY26 Q3: -7.3% Revenue growth, TTM YoY, FY26 Q4: -9.4% Revenue growth, TTM YoY, FY27 Q1: -10.1% Revenue growth, TTM YoY, FY27 Q2: -11.2% -11.2%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Revenue growth, TTM YoY
FY24 Q3 -11.2%
FY24 Q4 -10.6%
FY25 Q1 -8.9%
FY25 Q2 -4.3%
FY25 Q3 -3.3%
FY25 Q4 -4.2%
FY26 Q1 -4.2%
FY26 Q2 -5.8%
FY26 Q3 -7.3%
FY26 Q4 -9.4%
FY27 Q1 -10.1%
FY27 Q2 -11.2%
Operating margin (TTM) Torrid Holdings Inc.
0% 2% 4% 6% FY24 Q3 FY25 Q2 FY26 Q1 FY27 Q2 Operating margin (TTM), FY24 Q3: 4.8% Operating margin (TTM), FY24 Q4: 5.0% Operating margin (TTM), FY25 Q1: 5.0% Operating margin (TTM), FY25 Q2: 5.1% Operating margin (TTM), FY25 Q3: 5.2% Operating margin (TTM), FY25 Q4: 5.2% Operating margin (TTM), FY26 Q1: 4.3% Operating margin (TTM), FY26 Q2: 3.4% Operating margin (TTM), FY26 Q3: 2.9% Operating margin (TTM), FY26 Q4: 2.1% Operating margin (TTM), FY27 Q1: 1.4% Operating margin (TTM), FY27 Q2: 1.9% 1.9%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Operating margin (TTM)
FY24 Q3 4.8%
FY24 Q4 5.0%
FY25 Q1 5.0%
FY25 Q2 5.1%
FY25 Q3 5.2%
FY25 Q4 5.2%
FY26 Q1 4.3%
FY26 Q2 3.4%
FY26 Q3 2.9%
FY26 Q4 2.1%
FY27 Q1 1.4%
FY27 Q2 1.9%
FCF margin (TTM) Torrid Holdings Inc.
-4% -2% 0% 2% 4% 6% FY24 Q3 FY25 Q2 FY26 Q1 FY27 Q2 FCF margin (TTM), FY24 Q3: 1.0% FCF margin (TTM), FY24 Q4: 1.5% FCF margin (TTM), FY25 Q1: 2.8% FCF margin (TTM), FY25 Q2: 4.7% FCF margin (TTM), FY25 Q3: 4.5% FCF margin (TTM), FY25 Q4: 5.7% FCF margin (TTM), FY26 Q1: 2.0% FCF margin (TTM), FY26 Q2: -0.1% FCF margin (TTM), FY26 Q3: -0.2% FCF margin (TTM), FY26 Q4: -2.2% FCF margin (TTM), FY27 Q1: 0.4% FCF margin (TTM), FY27 Q2: -1.4% -1.4%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period FCF margin (TTM)
FY24 Q3 1.0%
FY24 Q4 1.5%
FY25 Q1 2.8%
FY25 Q2 4.7%
FY25 Q3 4.5%
FY25 Q4 5.7%
FY26 Q1 2.0%
FY26 Q2 -0.1%
FY26 Q3 -0.2%
FY26 Q4 -2.2%
FY27 Q1 0.4%
FY27 Q2 -1.4%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2020 Feb 2020 2021 Jan 2021 2022 Jan 2022 2023 Jan 2023 2024 Feb 2024 2025 Feb 2025 2026 Jan 2026 LTM Aug 2026
Income
Revenue 1,037 984 1,297 1,288 1,152 1,104 1,000 949
Gross profit 396 341 537 460 406 413 348 330
EBITDA 108 91 82 139 95 94 58 46
Operating income 77 57 45 102 57 57 21 18
Net income 42 25 −30 50 12 16 −7 −9
Diluted EPS $0.38 $0.22 −$0.27 $0.48 $0.11 $0.15 −$0.07 −$0.09
Growth (year on year)
Revenue — −5.1% +31.8% −0.7% −10.6% −4.2% −9.4% −11.2%
EBITDA — −15.5% −10.1% +69.5% −31.7% −0.7% −39.1% −37.3%
Operating income — −26.2% −20.1% +123.9% −43.8% +0.1% −62.6% −50.3%
Net income — −41.4% −222.1% — −76.9% — — —
Diluted EPS — −42.1% −222.7% — −77.1% — — —
Margins
Gross margin 38.2% 34.6% 41.4% 35.7% 35.2% 37.5% 34.8% 34.7%
EBITDA margin 10.4% 9.3% 6.3% 10.8% 8.3% 8.6% 5.8% 4.9%
Operating margin 7.4% 5.8% 3.5% 7.9% 5.0% 5.2% 2.1% 1.9%
Net margin 4.0% 2.5% −2.3% 3.9% 1.0% 1.5% −0.7% −0.9%
Free-cash-flow margin 7.0% 14.3% 8.0% 2.3% 1.5% 5.7% −2.2% −1.4%
Cash flow
Cash from operations 99 152 121 53 43 77 −13 −1
Capital spending 26 12 18 23 26 14 9 13
Free cash flow 73 140 104 30 17 63 −22 −13
Stock-based pay 12 8 160 10 8 8 5 6
Free cash flow after stock pay 61 132 −56 20 9 55 −27 −19
Balance sheet
Cash 29 123 29 14 12 49 20 22
Total debt 0 — — — — — — 304
Net debt (negative = net cash) −29 −123 −29 −14 −12 −49 −20 282
Diluted shares 110m 110m 110m 104m 104m 106m 101m 99m
Returned to shareholders
Buybacks 0 0 23 32 0 0 20 0
Total returned 0 0 23 32 0 0 20 0

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

0 of 4 checks passed · August 1, 2026
What it owns · $371m
Short-term assets $187mLonger-term assets $185m
What it owes, and who funded it · $577m
Short-term liabilities $235mLonger-term liabilities $342mShareholders' equity $-206m
  • Short-term assets cover short-term liabilities $187m of assets due within a year against $235m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $187m short-term assets against $342m of longer-dated liabilities.
  • More cash than debt $22m of cash against $264m of debt.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt −$677,000 of operating cash flow against $264m of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Torrid Holdings Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2027 Q2 TTM
Buybacks (TTM)
$271,000
Returned to shareholders
-2%
of free cash flow
Buybacks, last 3 fiscal years
$20.1M
Diluted share count
−5.6%
year over year
Total shareholder yield
0.1%
dividends 0.0% + buybacks 0.1% of market value
Sales & admin spending
26.8%
of revenue

Competitors: side by side with peers

Closest by revenue in apparel retail
Last 12 months unless stated CURV ZUMZ CTRN SHOE PLCE LE Median
Revenue, last 12 months $949m $933m $870m $1.1bn $1.1bn $1.2bn $1.1bn
Revenue growth, last 12 months −11.2% 3.6% 11.1% −4.1% −15.9% 1.4% 4.2%
Revenue growth, 3-year average −7.1% 1.4% 4.8% −2.9% −11.7% −3.6% 0.9%
Revenue growth, latest quarter −11.8% −2.5% 10.9% −7.2% −18.9% 5.3% 4.4%
Gross margin 34.7% 36.1% 35.5% 34.5% 29.0% 55.7% 40.1%
Operating margin 1.9% 2.2% 0.6% 2.8% −8.2% 0.6% 2.0%
Operating margin, 3-year average 3.5% −1.2% −1.4% 5.8% −3.8% −0.9% 0.2%
Net margin −0.9% 1.4% 0.8% 2.2% −11.8% 30.5% 1.5%
Cash from operations / revenue −0.1% 3.8% 4.0% 9.2% 4.4% −3.2% 4.9%
Free-cash-flow margin −1.4% 2.7% 0.7% 6.0% 2.0% −6.4% 2.9%
Free-cash-flow margin, 3-year average 1.1% 1.7% −0.5% 5.4% −1.4% −0.3% 1.7%
Stock pay / revenue 0.6% 0.8% 0.7% 0.8% −0.0% 0.5% 0.7%
Change in share count −5.6% −7.9% 0.7% −0.2% 28.0% −1.2% −0.3%

Median of all 28 companies we cover in apparel retail. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

28 apparel retail companies
Measure Company Peer median Rank
Revenue growth Growth -11.2% 4.7% 26 of 28
Change in growth rate Growth -1.1pp -0.2pp 22 of 28
Gross margin Profitability 34.7% 40.5% 18 of 26
Operating margin Profitability 1.9% 1.9% 13 of 25
Net margin Profitability -0.9% 1.7% 22 of 28
Free-cash-flow margin Cash generation -1.4% 3.0% 25 of 28
Stock pay as % of revenue Cash generation 0.6% 0.7% 10 of 26
Long-term debt as % of assets Balance sheet 66.8% 11.6% 13 of 13
Change in share count Balance sheet -5.6% -0.3% 4 of 27

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to January 31, 2026
Products and services
Line of business Revenue Share YoY
Apparel $913M 91.3% ▼ 7.7%
Non Apparel $52.9M 5.3% ▼ 35.9%
Other $33.7M 3.4% ▲ 5.5%
Gift Cards $700,000 0.1% ▼ 12.5%

From Torrid Holdings Inc.'s 10-K filed March 31, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$168M
Institutions reporting
90
Shares held vs prior quarter
▲ 5.5%
Positions opened / closed
18 / 8

Top buyers and sellers, Q2 2026: 62 institutions bought and 24 sold ; the biggest buyer was SG Americas Securities, LLC (+2.2M shares) and the biggest seller Nomura Holdings Inc (−500K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Sycamore Partners Management, L.P. $109M 58.3M 64.8% 0.0%
Fund 1 Investments, LLC $18.4M 9.8M 10.9% ▲ 1.2%
Nomura Holdings Inc $9.5M 5.1M 5.6% ▼ 9.0%
SG Americas Securities, LLC $7.7M 4.1M 4.6% ▲ 117.0%
Healthcare Of Ontario Pension Plan Trust Fund $3.7M 2.0M 2.2% 0.0%
Blackrock, Inc. $3.6M 1.9M 2.1% ▲ 8.6%
Vanguard Capital Management LLC $2.6M 1.4M 1.5% ▲ 3.2%
Morgan Stanley $1.8M 957K 1.1% ▲ 3097.5%
Shay Capital LLC $1.3M 684K 0.8% ▲ 252.0%
Geode Capital Management, LLC $1.2M 665K 0.7% ▲ 6.6%
AQR Capital Management LLC $884,412 473K 0.5% ▲ 120.7%
Bank Of America Corp $859,014 459K 0.5% ▼ 27.2%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Torrid Holdings Inc.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $239,738 6 trades by 4 insiders · 0% under pre-set plans
Net ▼ $239,738 net selling
Insider Date Trade Shares Price Value
Wheeler Ashlee Chief Commercial Officer September 2, 2026 Sell 1,951 $2.27 $4,429
Abaelu Chinwe See Remarks July 16, 2026 Sell 1,000 $2.29 $2,290
Abaelu Chinwe See Remarks July 16, 2026 Sell 24,401 $2.16 $52,706
Dempsey Paula Chief Financial Officer April 14, 2026 Sell 42,785 $2.06 $88,137
Wheeler Ashlee Chief Commercial Officer April 13, 2026 Sell 30,013 $1.98 $59,426
Fund 1 Investments, Llc 10% owner December 3, 2025 Sell 25,000 $1.31 $32,750

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around December 2, 2026 estimated from the company's past filing pattern, not announced

  • September 3, 2026
  • June 4, 2026
  • March 19, 2026
  • December 3, 2025
  • September 4, 2025
  • June 5, 2025

Recent SEC filings

Data status

When each part of this page on Torrid Holdings Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Torrid Holdings Inc. in brief

What does Torrid Holdings Inc. do?
Torrid Holdings Inc. is a US-listed company in the apparel retail industry. Its financial year ends in January.
What is Torrid Holdings Inc.'s stock ticker?
Torrid Holdings Inc. trades under the ticker CURV on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Torrid Holdings Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Torrid Holdings Inc. reported revenue of $949M, 11.2% lower than a year earlier, according to its SEC filings.
What is Torrid Holdings Inc.'s free cash flow?
Torrid Holdings Inc.'s free-cash-flow margin is -1.4% of revenue over the trailing twelve months, ranking 25 of the 28 apparel retail companies we cover.
Who are Torrid Holdings Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Sycamore Partners Management, L.P., Fund 1 Investments, LLC and Nomura Holdings Inc. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Torrid Holdings Inc. buying back stock, and does it pay a dividend?
Torrid Holdings Inc. spent $271,000 on share repurchases over the trailing twelve months, and its diluted share count fell 5.6% over the year.
What is Torrid Holdings Inc.'s market cap?
On November 2, 2026, Torrid Holdings Inc.'s market capitalisation was about $253M and net debt of $282M. Market figures come from third-party market data and may be delayed.
Who are Torrid Holdings Inc.'s competitors?
In our Apparel Retail peer group, the companies closest to Torrid Holdings Inc. are Zumiez Inc, Citi Trends Inc, Shoe Station Group Inc, Childrens Place, Inc. and Lands' END, Inc. The side-by-side comparison below sets their revenue, margins and growth against Torrid Holdings Inc.'s.
Are insiders buying or selling Torrid Holdings Inc. stock?
Over the last 12 months, Torrid Holdings Inc.'s directors and officers reported 0 open-market purchases and 6 sales on Form 4. The insider trading page charts every trade.
When is Torrid Holdings Inc.'s next earnings date?
Around December 2, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Torrid Holdings Inc. announces its own schedule.