Stitch Fix, Inc. key statistics and ratios

In fiscal 2026, Stitch Fix, Inc. had return on equity of -6.3%, an operating margin of -1.6%, debt equal to 0.0% of equity and a current ratio of 1.48. 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.

Stitch Fix, Inc.: financial ratios, annual
Fiscal year	2016Jul 2016	2017Jul 2017	2018Jul 2018	2019Aug 2019	2020Aug 2020	2021Jul 2021	2022Jul 2022	2023Jul 2023	2024Aug 2024	2025Aug 2025	2026Aug 2026
Gross margin	44.3%	44.5%	43.7%	44.6%	44.1%	45.1%	43.9%	42.4%	44.3%	44.4%	43.7%
Operating margin	8.8%	3.2%	3.5%	1.5%	−3.0%	−3.0%	−9.1%	−9.8%	−10.0%	−3.1%	−1.6%
Net margin	4.5%	−0.1%	3.7%	2.3%	−3.9%	−0.4%	−10.3%	−10.8%	−9.6%	−2.3%	−0.9%
Free-cash-flow margin	4.1%	2.2%	4.5%	3.0%	0.7%	−2.4%	1.5%	3.4%	1.1%	0.7%	1.5%
Return on equity	66.4%	−1.1%	23.8%	10.4%	−16.8%	−2.1%	−52.9%	−60.3%	−59.3%	−14.7%	−6.3%
Return on assets	—	−0.2%	12.2%	6.7%	−9.7%	−1.1%	−26.2%	−24.9%	−23.4%	−5.9%	−2.6%
Asset turnover	—	3.80	3.32	2.87	2.47	2.65	2.55	2.31	2.43	2.62	2.81
Current ratio	—	1.48	2.93	2.64	2.20	2.29	1.61	1.79	1.80	1.81	1.48
Debt to equity	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Effective tax rate	45.8%	—	17.9%	−19.7%	—	—	—	—	—	—	—
SG&A as % of revenue	35.5%	41.2%	40.2%	43.1%	47.1%	48.1%	53.1%	52.2%	54.2%	47.5%	45.3%
Capital spending as % of revenue	2.1%	1.8%	1.4%	2.0%	1.8%	1.7%	2.2%	1.2%	1.0%	1.3%	1.4%
Free cash flow ÷ net income	90.0%	—	123.9%	129.5%	—	—	—	—	—	—	—
Dividends and buybacks ÷ free cash flow	0.0%	16.5%	0.1%	0.0%	0.0%	—	99.3%	0.0%	0.0%	0.0%	132.9%

US$ thousands unless shown otherwise. Fiscal quarters.

Stitch Fix, Inc.: financial ratios, quarterly
Quarter	2025 Q1Nov 2024	2025 Q2Feb 2025	2025 Q3May 2025	2025 Q4Aug 2025	2026 Q1Nov 2025	2026 Q2Jan 2026	2026 Q3May 2026	2026 Q4Aug 2026
Gross margin	45.4%	44.5%	44.2%	43.6%	43.6%	43.6%	43.7%	43.6%
Operating margin	−2.8%	−2.9%	−3.0%	−3.6%	−2.5%	−1.4%	−1.2%	−1.3%
Net margin	−2.0%	−2.1%	−2.3%	−2.8%	−1.9%	−0.8%	−0.4%	−0.6%
Free-cash-flow margin	3.1%	−6.2%	4.9%	0.9%	1.6%	1.0%	1.9%	1.4%
Current ratio	1.73	1.85	1.80	1.81	1.66	1.69	1.50	1.48
SG&A as % of revenue	48.2%	47.4%	47.2%	47.2%	46.2%	45.0%	44.9%	44.9%

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

2 of 2 checks passed · August 1, 2026

What it owns · $479m

Short-term assets $348mLonger-term assets $131m

What it owes, and who funded it · $479m

Short-term liabilities $236mLonger-term liabilities $48mShareholders' equity $196m

Short-term assets cover short-term liabilities $348m of assets due within a year against $236m of liabilities due within a year.
Short-term assets cover long-term liabilities $348m short-term assets against $48m of longer-dated liabilities.
More cash than debt Cash or debt not separately reported. Not assessable.
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 Cash flow or debt not reported. Not assessable.
Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Stitch Fix, 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

37 /100

Weak moat

How hard Stitch Fix's competitive advantage looks for rivals to wear away, judged from 10 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 -4.3% of total assets over 10 years.
Pricing power 15 / 20

Gross margin has been a median 44.2%, moving by 0.7 percentage points (standard deviation) across 10 years.
Durability 10 / 20

Operating margin has been a median -3.0%; its worst year was -10.0%.
Cash conversion 10 / 20

Free cash flow was positive in 8 of 9 years, at a median 1.5% of revenue.
Discipline 7 / 20

The diluted share count rose 26.7% over five years; stock-based pay has been a median 4.6% 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 (42 before it).

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

Compare with peers

Head to head: BKE vs SFIX LE vs SFIX PLCE vs SFIX

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Figures from Stitch Fix, 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 Stitch Fix, Inc.