Torrid Holdings Inc. key statistics and ratios

In fiscal 2026, Torrid Holdings Inc. had an operating margin of 2.1% and a current ratio of 0.78. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

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

Torrid Holdings Inc.: financial ratios, annual
Fiscal year	2020Feb 2020	2021Jan 2021	2022Jan 2022	2023Jan 2023	2024Feb 2024	2025Feb 2025	2026Jan 2026	LTMAug 2026
Gross margin	38.2%	34.6%	41.4%	35.7%	35.2%	37.5%	34.8%	34.7%
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%
Return on assets	—	3.8%	−4.9%	9.1%	2.3%	3.4%	−1.6%	−2.3%
Asset turnover	—	1.52	2.12	2.33	2.29	2.29	2.25	2.46
Current ratio	—	0.93	0.74	0.81	0.77	0.86	0.78	0.79
Interest cover (operating income ÷ interest)	4.7x	2.7x	1.5x	3.4x	1.5x	—	—	—
Effective tax rate	31.0%	30.9%	—	30.0%	35.6%	24.5%	—	—
SG&A as % of revenue	24.4%	23.6%	33.9%	23.1%	25.5%	27.4%	26.9%	26.8%
Capital spending as % of revenue	2.5%	1.2%	1.4%	1.8%	2.3%	1.3%	0.9%	1.3%
Free cash flow ÷ net income	173.8%	571.7%	—	59.6%	144.3%	386.1%	—	—
Dividends and buybacks ÷ free cash flow	0.0%	0.0%	22.5%	105.9%	0.0%	0.0%	—	—

US$ thousands unless shown otherwise. Fiscal quarters.

Torrid Holdings Inc.: financial ratios, quarterly
Quarter	2025 Q3Nov 2024	2025 Q4Feb 2025	2026 Q1May 2025	2026 Q2Aug 2025	2026 Q3Nov 2025	2026 Q4Jan 2026	2027 Q1May 2026	2027 Q2Aug 2026
Gross margin	36.1%	33.6%	38.1%	35.6%	34.9%	30.0%	35.3%	38.7%
Operating margin	2.7%	1.3%	6.0%	3.9%	0.1%	−2.1%	3.5%	6.3%
Net margin	−0.5%	−1.1%	2.2%	0.6%	−2.7%	−3.4%	0.2%	2.2%
Free-cash-flow margin	−2.1%	3.7%	−7.7%	5.6%	−2.8%	−3.9%	2.3%	−1.3%
Current ratio	0.89	0.86	0.87	0.83	0.81	0.78	0.79	0.79
SG&A as % of revenue	28.4%	26.8%	26.3%	26.8%	28.2%	26.4%	25.9%	26.7%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

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.

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.

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Figures from Torrid Holdings Inc.'s SEC filings (10-K and 10-Q), retrieved October 26, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Torrid Holdings Inc.