Stitch Fix, Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Stitch Fix, Inc. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2018	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Revenue	977	1,227	1,578	1,712	2,101	2,018	1,593	1,337	1,267	1,348
Cost of revenue	543	690	874	958	1,154	1,131	917	745	704	760
Gross profit	434	536	703	754	948	887	676	592	563	588
Selling, general and administrative	403	493	680	806	1,011	1,071	831	725	602	610
Operating income	31.6	43	23.5	-51.7	-63.4	-184	-155	-133	-38.9	-21.7
Other non-operating income	0	0.1	1.54	-1.59	-0.37	-0.39	-0.03	1.63	0.17	0.77
Pre-tax income	12.8	54.7	30.8	-47.7	-61.1	-184	-149	-121	-28	-12.3
Income tax	13.4	9.81	-6.06	19.4	-52.2	-2.34	0.87	-1.66	0.82	0.34
Income from continuing operations						-182	-150	-119	-28.8	-12.6
Net income	-0.59	44.9	36.9	-67.1	-8.88	-207	-172	-129	-28.7	-12.6
EBITDA	39.3	53.5	39.6	-29.1	-35.8	-151	-113	-88.9	-12.8	0.93
EPS, basic	-0.02	0.47	0.37	-0.66	-0.08	-1.90	-1.50	-1.07	-0.22	-0.09
EPS, diluted	-0.02	0.34	0.36	-0.66	-0.08	-1.90	-1.50	-1.07	-0.22	-0.09
Shares, basic (weighted)	25	75.9	100	102	106	109	115	120	129	134
Shares, diluted (weighted)	25	81.3	104	102	106	109	115	120	129	134

Balance sheet

	FY2018	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Cash and equivalents	111	298	171	143	130	131	239	163	114	95.3
Short-term investments		0	143	143	102	82	18.2	84.1	121	77.2
Inventory	67.6	85.1	118	125	212	197	131	97.9	118	123
Other current assets	19.3	34.1	50	32.7	50.5	39.5	27.7	21.8	20.6	53.1
Total current assets	198	417	482	466	522	477	425	367	374	348
Property, plant and equipment	26.7	34.2	54.9	70.4	87	103	79.8	51.5	43.2	40.4
Lease right-of-use assets			0	133	119	132	105	63.8	51.2	39.2
Long-term investments		0	53.4	95.1	59	17.7	0	0	7.89	48.4
Other non-current assets	3.62	3.7	3.23	4.3	5.73	7.93	2.68	4.86	4.46	3.06
Total assets	257	482	616	769	819	765	614	487	481	479
Accounts payable	44.2	79.8	90.9	85.2	73.5	144	96.7	87.1	89.2	89.2
Accrued liabilities	46.4	43	69.7	77.6	99	94.4	69.9	73	76.3	110
Deferred revenue	7.15	8.87	12	13.1	18.2	14.4	11.4	9.22	8.62	6.86
Total current liabilities	134	142	183	212	228	296	238	204	206	236
Lease liabilities			0	140	122	141	125	95.7	70.8	47.5
Other non-current liabilities	7.42	8.99	13	16.1	8.36	4.98	3.64	0.61	0.66	0.18
Total liabilities	153	167	220	368	358	442	367	300	278	283
Paid-in capital	27	235	280	349	417	523	615	685	729	762
Retained earnings	34.9	79.8	117	49.6	40.7	-166	-338	-467	-496	-509
Treasury stock					0	-30	-30	-30	-30	-56.4
Other comprehensive income		0	-0.19	2.73	3.41	-3.53	0.53	-0.34	-0.43	-0.88
Shareholders' equity	61.9	315	396	401	461	323	247	187	203	196
Total equity	61.9	315	396	401	461	323	247	187	203	196
Total liabilities and equity	257	482	616	769	819	765	614	487	481	479
Shares outstanding	26.8

Cash flow statement

	FY2018	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Net income	-0.59	44.9	36.9	-67.1	-8.88	-207	-172	-129	-28.7	-12.6
Depreciation and amortization	7.7	10.5	16.1	22.6	27.6	33.5	42.1	44.5	26.1	22.6
Stock-based compensation	3.55	15.4	35.3	67.5	101	126	102	76.8	56.7	46.4
Deferred income tax	-6.73	6.59	-8.2	-20.3			0	0	0	0
Change in inventory	-26.4	-19.4	-41.2	-15.2	-96.1	1.5	76	47.7	-24.8	-2.76
Change in payables	7.84	35.5	10.8	-5.52	-12.4	67.4	-40.4	-9.75	2.01	-0.77
Cash from operations	38.6	72.2	78.6	42.9	-15.7	75.2	73.2	28.2	25.6	39.1
Capital expenditures	-17.1	-16.6	-30.8	-30.2	-35.3	-45	-18.9	-14	-16.3	-19.2
Purchases of investments	0	0	-285	-248	-174	-94.4	-0.26	-97.3	-198	-119
Sales and maturities of investments	0	0	80.3	171	144	106	76.2	32.2	144	121
Cash from investing	-17.1	-16.6	-225	-70.5	39.1	11.6	64.5	-78.7	-59.1	-15.4
Stock issued	2.35	6.38	13.7	12.1	25.9	1.53	0.16	1.03	1.09	1.89
Share buybacks	-3.56	-0.04	0	0	0	-30	0	0	0	-26.4
Cash from financing	-3.03	135	6.95	-1.44	-38.9	-59.6	-15.1	-15.5	-15	-42.3
Exchange rate effect	0	0	0.21	1.54	1.8	-4.23	1.89	-0.69
Net change in cash	18.5	190	-140	-29	-13.7	1.15	109	-76.6	-48.9	-18.7
Free cash flow	21.5	55.6	47.8	12.7	-50.9	30.3	54.4	14.2	9.28	19.8
Income taxes paid	28	10.1	0.97	0.37	0.46	0.87	1.11	0.9	0.8	394

Key metrics

Worked out from the statements above. Latest values use fiscal 2026. Valuation uses the share price of $2.16 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	43.7%	Gross profit / revenue.
Operating margin	-1.6%	Operating income / revenue.
EBITDA margin	0.1%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	-0.9%	Pre-tax income / revenue.
Net margin	-0.9%	Net income / revenue.
FCF margin	1.5%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	2.9%	Cash from operations / revenue.
Return on equity (ROE)	-6.3%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	-2.6%	Net income / average total assets.
Return on invested capital (ROIC)	-18.1%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
SG&A / revenue	45.3%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	3.4%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	1.4%	Capital expenditures / revenue.
D&A / revenue	1.7%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	6.4%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-5.4%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	-8.5%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	4.5%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	-4.5%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	-9.1%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	52.8%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-18.9%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow growth, 1y	113.8%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	-28.5%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value growth, 1y	-3.4%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-7.4%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	-15.7%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-0.2%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-7.9%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	-10.2%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	4.2%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	5.4%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	4.8%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.48x	Current assets / current liabilities.
Quick ratio	0.73x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.73x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	59.1%	Total liabilities / total assets.
Working capital	$112.6M	Current assets - current liabilities.
Tangible book value	$196.1M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	2.81x	Revenue / average total assets.
Fixed asset turnover	32.2x	Revenue / average property, plant and equipment.
Inventory turnover	6.30x	Cost of revenue / average inventory.
Days inventory	58 days	365 x average inventory / cost of revenue.
Days payables	43 days	365 x average accounts payable / cost of revenue.
Capex / operating cash flow	49.2%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$0.09	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic	-$0.09	Net income per basic share, as reported (split-adjusted).
Revenue per share	$10.04	Revenue / diluted weighted shares.
FCF per share	$0.15	Free cash flow / diluted weighted shares.
Operating cash flow per share	$0.29	Cash from operations / diluted weighted shares.
Book value per share	$1.46	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$1.46	Tangible book value / shares outstanding.
Cash per share	$1.29	(Cash + short-term investments) / shares outstanding.
Buybacks / FCF	132.9%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$287.5M	Share price x shares outstanding.
Enterprise value	$115.0M	Market cap + total debt - cash - short-term investments.
P/S	0.21x	Market cap / revenue.
P/B	1.47x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	1.47x	Market cap / tangible book value, when positive.
P/FCF	14.5x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	7.36x	Market cap / cash from operations, when positive.
EV/Sales	0.09x	Enterprise value / revenue.
EV/EBITDA	123x	Enterprise value / EBITDA, when both are positive.
EV/FCF	5.79x	Enterprise value / free cash flow, when both are positive.
FCF yield	6.9%	Free cash flow / market cap.
Earnings yield	-4.4%	Net income / market cap (the inverse of P/E).
Shareholder yield	9.2%	(Dividends paid + share buybacks) / market cap.

What was Stitch Fix, Inc.'s revenue in fiscal 2026?

Stitch Fix, Inc. reported revenue of $1.35B for fiscal 2026, 6.4% higher than the year before.

Was Stitch Fix, Inc. profitable in fiscal 2026?

No. It reported a net loss of $12.6M.

How much free cash flow did Stitch Fix, Inc. generate in fiscal 2026?

Cash from operations of $39.1M minus capital expenditures of $19.2M left free cash flow of $19.8M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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