What is Torrid's operating income?

Torrid's total operating income in 2025 was $21.40 million, based on the following breakdown: Total Gross Profit: $347.96 million Total Operating Expenses: $326.56 million

Torrid (CURV) Financials

$2.47 +0.03 (+1.39%)

As of 10:22 AM Eastern

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Annual Income Statements for Torrid

This table shows Torrid's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	2/1/2020	1/30/2021	1/29/2022	1/28/2023	2/3/2024	2/1/2025	1/31/2026
Net Income / (Loss) Attributable to Common Shareholders	42	25	45	50	12	16	-6.74
Consolidated Net Income / (Loss)	42	25	0.00	50	12	16	-7.03
Net Income / (Loss) Continuing Operations	42	25	45	50	12	16	-7.03
Total Pre-Tax Income	61	36	0.00	72	18	22	-9.56
Total Operating Income	77	57	45	102	57	57	21
Total Gross Profit	396	341	537	460	406	413	348
Total Revenue	1,037	984	1,297	1,288	1,152	1,104	1,000
Operating Revenue	1,037	984	1,297	1,288	1,152	1,104	1,000
Total Cost of Revenue	641	643	760	829	746	690	652
Operating Cost of Revenue	641	643	760	829	746	690	652
Total Operating Expenses	319	284	492	358	349	356	327
Selling, General & Admin Expense	253	233	439	298	293	302	269
Marketing Expense	66	51	53	60	55	54	57
Total Other Income / (Expense), net	-16	-21	0.00	-30	-39	-36	-31
Interest & Investment Income	0.20	0.04	0.00	-30	-39	-36	-32
Other Income / (Expense), net	-	-	0.00	-0.21	0.09	0.03	0.88
Income Tax Expense	19	11	0.00	21	6.42	5.29	-2.53
Other Adjustments to Net Income / (Loss) Attributable to Common Shareholders)	-	-	-	0.67	0.10	1.17	-0.58
Basic Earnings per Share	$0.38	$0.22	$0.00	$0.48	$0.11	$0.16	($0.07)
Weighted Average Basic Shares Outstanding	110M	110M	0.00	104.34M	103.99M	104.56M	101.44M
Diluted Earnings per Share	$0.38	$0.22	$0.00	$0.48	$0.11	$0.15	($0.07)
Weighted Average Diluted Shares Outstanding	110M	110M	0.00	104.49M	104.40M	105.68M	101.44M
Weighted Average Basic & Diluted Shares Outstanding	-	-	105.86M	103.80M	104.33M	104.93M	99.32M

This table shows Torrid's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026
Period end date	10/28/2023	2/3/2024	5/4/2024	8/3/2024	11/2/2024	2/1/2025	5/3/2025	8/2/2025	11/1/2025	5/2/2026	8/1/2026
Net Income / (Loss) Attributable to Common Shareholders	-3.02	-3.85	12	8.33	-1.28	-3.31	6.32	1.57	-6.59	0.43	5.18
Consolidated Net Income / (Loss)	-2.75	-4.07	12	8.33	-1.19	-2.99	5.94	1.57	-6.43	0.41	5.18
Net Income / (Loss) Continuing Operations	-2.75	-4.07	12	8.33	-1.22	-2.96	5.94	1.57	-6.43	0.41	5.18
Total Pre-Tax Income	-3.14	-6.03	17	11	-1.22	-5.23	8.57	2.05	-7.96	0.87	6.55
Total Operating Income	6.88	4.02	26	20	7.20	3.45	16	10	0.21	8.56	15
Total Gross Profit	92	101	115	110	95	93	101	93	82	87	90
Total Revenue	275	294	280	285	264	276	266	263	235	246	232
Operating Revenue	275	294	280	285	264	276	266	263	235	246	232
Total Cost of Revenue	184	192	164	174	169	183	165	169	153	159	142
Operating Cost of Revenue	184	192	164	174	169	183	165	169	153	159	142
Total Operating Expenses	85	97	89	90	88	89	85	83	82	78	75
Selling, General & Admin Expense	72	81	76	77	75	74	70	71	66	64	62
Marketing Expense	13	17	13	13	13	15	15	13	16	15	13
Total Other Income / (Expense), net	-10	-10	-9.49	-9.02	-8.42	-8.68	-7.46	-8.11	-8.17	-7.69	-7.99
Interest & Investment Income	-9.76	-	-9.38	-9.14	-8.78	-	-8.16	-8.12	-7.91	-7.72	-7.84
Other Income / (Expense), net	-0.27	0.33	-0.11	0.12	0.36	-0.35	0.71	0.01	-0.26	0.03	-0.15
Income Tax Expense	-0.39	-1.96	4.48	3.07	0.00	-2.27	2.63	0.49	-1.53	0.46	1.37
Basic Earnings per Share	($0.03)	($0.03)	$0.12	$0.08	($0.01)	($0.03)	$0.06	$0.02	($0.06)	$0.00	$0.05
Weighted Average Basic Shares Outstanding	104.08M	103.99M	104.27M	104.50M	104.70M	104.56M	104.92M	102.47M	99.16M	99.39M	99.60M
Diluted Earnings per Share	($0.03)	($0.03)	$0.12	$0.08	($0.01)	($0.04)	$0.06	$0.02	($0.06)	$0.00	$0.05
Weighted Average Diluted Shares Outstanding	104.08M	104.40M	105.25M	106.07M	104.70M	105.68M	106.04M	102.75M	99.16M	99.55M	100.21M
Weighted Average Basic & Diluted Shares Outstanding	104.10M	104.33M	104.35M	104.68M	104.76M	104.93M	105.02M	-	99.20M	99.52M	99.72M

This table details how cash moves in and out of Torrid's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	2/1/2020	1/30/2021	1/29/2022	1/28/2023	2/3/2024	2/1/2025	1/31/2026
Net Change in Cash & Equivalents	20	94	-94	-15	-1.80	37	-28
Net Cash From Operating Activities	99	152	121	53	43	77	-13
Net Cash From Continuing Operating Activities	99	152	121	53	43	77	-13
Net Income / (Loss) Continuing Operations	42	25	-30	50	12	16	-7.03
Consolidated Net Income / (Loss)	42	25	-30	50	12	16	-7.03
Depreciation Expense	31	35	37	38	38	37	36
Amortization Expense	40	40	42	42	41	41	33
Non-Cash Adjustments To Reconcile Net Income	11	13	172	10	7.38	6.49	1.42
Changes in Operating Assets and Liabilities, net	-26	39	-99	-87	-56	-23	-77
Net Cash From Investing Activities	-56	-12	-18	-23	-26	-14	-8.85
Net Cash From Continuing Investing Activities	-56	-12	-18	-23	-26	-14	-8.85
Purchase of Property, Plant & Equipment	-56	-12	-18	-23	-26	-14	-8.85
Net Cash From Financing Activities	-23	-46	-198	-45	-19	-25	-7.18
Net Cash From Continuing Financing Activities	-23	-46	-198	-45	-19	-25	-7.18
Repayment of Debt	-123	-97	-219	-846	-611	-88	-458
Repurchase of Common Equity	0.00	0.00	-23	-32	0.00	0.00	-20
Issuance of Debt	356	51	346	833	593	63	472
Issuance of Common Equity	0.00	0.00	0.57	0.75	0.40	1.04	0.28
Other Financing Activities, net	0.00	0.00	-2.07	-0.67	-0.31	-0.77	-0.52
Effect of Exchange Rate Changes	-0.01	-0.11	0.21	-0.18	-0.05	-1.71	0.56
Cash Interest Paid	11	21	24	30	34	35	32

This table details how cash moves in and out of Torrid's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	10/28/2023	2/3/2024	5/4/2024	8/3/2024	11/2/2024	2/1/2025	5/3/2025	8/2/2025	1/31/2026	5/2/2026	8/1/2026
Net Change in Cash & Equivalents	-2.95	-3.83	8.73	33	-9.99	4.57	-25	-2.15	2.83	2.82	-0.84
Net Cash From Operating Activities	2.04	9.04	28	41	-3.08	12	-18	16	-5.89	11	-1.11
Net Cash From Continuing Operating Activities	2.04	9.04	28	41	-3.08	12	-18	16	-5.89	11	-1.11
Net Income / (Loss) Continuing Operations	-2.75	-4.07	12	8.33	-1.19	-2.99	5.94	1.57	-8.12	0.41	5.18
Consolidated Net Income / (Loss)	-2.75	-4.07	12	8.33	-1.19	-2.99	5.94	1.57	-8.12	0.41	5.18
Depreciation Expense	9.17	9.76	9.64	9.30	8.90	9.40	9.77	9.81	8.29	6.71	5.40
Amortization Expense	10	11	10	10	10	10	8.95	8.64	7.95	6.99	6.59
Non-Cash Adjustments To Reconcile Net Income	0.07	5.43	1.53	-1.05	0.57	7.40	1.55	-1.38	4.08	2.28	-0.68
Changes in Operating Assets and Liabilities, net	-15	-13	-5.89	14	-22	-12	-44	-2.89	-18	-5.21	-18
Net Cash From Investing Activities	-5.64	-11	-7.01	-3.17	-2.44	-1.78	-2.55	-1.12	-3.43	-5.48	-1.93
Net Cash From Continuing Investing Activities	-5.64	-11	-7.01	-3.17	-2.44	-1.78	-2.55	-1.12	-3.43	-5.48	-1.93
Purchase of Property, Plant & Equipment	-5.64	-11	-7.01	-3.17	-2.44	-1.78	-2.55	-1.12	-3.43	-5.48	-1.93
Net Cash From Financing Activities	0.78	-2.18	-12	-4.12	-4.39	-4.13	-4.67	-17	12	-2.90	2.53
Net Cash From Continuing Financing Activities	0.78	-2.18	-12	-4.12	-4.39	-4.13	-4.67	-17	12	-2.90	2.53
Repayment of Debt	-108	-140	-74	-4.38	-4.38	-4.38	-55	-118	-135	-157	-154
Issuance of Debt	109	138	63	-	-	-	50	121	147	155	156
Issuance of Common Equity	0.12	0.08	0.09	0.44	0.18	0.34	0.03	0.17	0.08	0.00	0.07
Other Financing Activities, net	-0.06	-0.06	-0.30	-0.18	-0.19	-0.10	-0.33	-0.12	-0.01	-0.16	-0.02
Effect of Exchange Rate Changes	-0.13	0.09	-0.03	-0.05	-0.08	-1.55	0.41	0.03	0.30	0.02	-0.33
Cash Interest Paid	9.38	9.34	9.71	8.82	8.55	8.00	7.76	9.92	9.37	5.21	7.38
Cash Income Taxes Paid	0.22	0.18	0.20	11	3.11	3.57	0.07	7.07	-	0.45	0.34

This table presents Torrid's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024	2025
Period end date	1/30/2021	1/29/2022	1/28/2023	2/3/2024	2/1/2025	1/31/2026
Total Assets	648	579	527	477	488	400
Total Current Assets	242	221	216	179	226	193
Cash & Equivalents	123	29	14	12	49	20
Restricted Cash	0.26	0.26	0.37	0.40	0.40	0.42
Inventories, net	106	171	180	142	148	136
Prepaid Expenses	13	15	20	22	25	25
Current Deferred & Refundable Income Taxes	0.42	6.35	2.08	2.56	4.24	12
Plant, Property, & Equipment, net	143	128	114	104	78	52
Total Noncurrent Assets	263	230	198	194	185	155
Intangible Assets	8.40	8.40	8.40	8.40	8.40	8.40
Noncurrent Deferred & Refundable Income Taxes	6.14	4.87	3.30	8.68	17	19
Other Noncurrent Operating Assets	248	217	186	177	160	128
Total Liabilities & Shareholders' Equity	648	579	527	477	488	400
Total Liabilities	711	837	757	689	680	614
Total Current Liabilities	261	297	267	232	263	249
Short-Term Debt	12	21	25	23	16	47
Accounts Payable	71	92	76	46	72	57
Accrued Expenses	110	139	109	108	126	106
Current Deferred & Payable Income Tax Liabilities	9.34	-	0.00	2.67	0.00	0.12
Other Current Liabilities	59	46	58	52	49	38
Total Noncurrent Liabilities	450	540	490	457	416	365
Long-Term Debt	193	321	305	289	272	256
Noncurrent Employee Benefit Liabilities	6.53	6.87	4.25	5.47	3.91	4.04
Other Noncurrent Operating Liabilities	250	212	181	163	140	105
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	-63	-258	-230	-212	-191	-213
Total Preferred & Common Equity	-63	-258	-230	-212	-191	-213
Preferred Stock	-	-	-	0.00	0.00	0.00
Total Common Equity	-63	-258	-230	-212	-191	-213
Common Stock	11	119	129	136	141	146
Retained Earnings	-75	-378	-359	-348	-331	-338
Treasury Stock	-	-	-	-	0.00	-20
Accumulated Other Comprehensive Income / (Loss)	-0.01	0.08	-0.26	-0.31	-0.90	-0.61

This table presents Torrid's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q3 2025	Q1 2026	Q2 2026
Period end date	10/29/2022	4/29/2023	7/29/2023	10/28/2023	5/4/2024	8/3/2024	11/2/2024	5/3/2025	11/1/2025	5/2/2026	8/1/2026
Total Assets	564	515	492	509	480	487	493	451	403	403	371
Total Current Assets	243	217	205	216	194	217	223	202	189	204	187
Cash & Equivalents	19	18	19	16	20	54	44	24	17	23	22
Restricted Cash	0.32	0.37	0.37	0.37	0.40	0.40	0.40	0.40	0.40	0.42	0.42
Inventories, net	200	175	158	171	145	128	138	150	129	143	126
Prepaid Expenses	23	22	24	25	27	30	33	27	27	27	28
Current Deferred & Refundable Income Taxes	1.15	1.85	4.08	4.65	1.59	4.13	6.62	1.82	15	12	11
Plant, Property, & Equipment, net	116	108	103	101	98	92	86	72	58	51	47
Total Noncurrent Assets	205	190	185	192	187	179	185	177	156	147	138
Intangible Assets	8.40	8.40	8.40	8.40	8.40	8.40	8.40	8.40	8.40	8.40	8.40
Noncurrent Deferred & Refundable Income Taxes	4.87	3.29	3.30	3.30	8.68	8.68	8.68	17	14	19	19
Other Noncurrent Operating Assets	192	178	173	181	170	162	168	152	134	120	110
Total Liabilities & Shareholders' Equity	564	515	492	509	480	487	493	451	403	403	371
Total Liabilities	793	732	700	719	678	676	682	635	609	614	577
Total Current Liabilities	295	255	236	252	234	246	251	232	233	260	235
Short-Term Debt	18	28	16	21	16	16	16	16	31	49	56
Accounts Payable	125	78	62	79	59	68	77	62	66	78	58
Accrued Expenses	102	91	107	102	109	117	117	107	99	98	91
Current Deferred & Payable Income Tax Liabilities	3.09	3.68	-	-	6.00	0.72	0.06	0.12	0.71	0.00	0.00
Other Current Liabilities	46	55	51	50	45	44	41	47	36	35	31
Total Noncurrent Liabilities	499	477	464	466	444	431	431	403	377	354	342
Long-Term Debt	309	301	297	293	285	280	276	268	260	252	248
Noncurrent Employee Benefit Liabilities	4.17	4.54	4.85	4.75	5.26	5.02	3.74	3.63	3.93	4.07	4.14
Other Noncurrent Operating Liabilities	186	172	162	169	154	145	151	131	112	98	90
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	-229	-216	-208	-209	-199	-189	-189	-184	-207	-212	-206
Total Preferred & Common Equity	-229	-216	-208	-209	-199	-189	-189	-184	-207	-212	-206
Preferred Stock	-	-	-	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	-229	-216	-208	-209	-199	-189	-189	-184	-207	-212	-206
Common Stock	127	131	133	135	137	139	140	142	145	147	148
Retained Earnings	-355	-347	-341	-344	-335	-327	-328	-325	-330	-338	-333
Treasury Stock	-	-	-	-	-	-	-	-	-20	-20	-20
Accumulated Other Comprehensive Income / (Loss)	-0.40	-0.43	-0.20	-0.48	-0.40	-0.50	-0.59	-0.52	-0.67	-0.59	-0.80

This table displays calculated financial ratios and metrics derived from Torrid's official financial filings.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	2/1/2020	1/30/2021	1/29/2022	1/28/2023	2/3/2024	2/1/2025	1/31/2026
DEI Shares Outstanding	0.00	0.00	110,091,816.00	-	-	-	99,196,942.00
DEI Adjusted Shares Outstanding	0.00	0.00	110,091,816.00	-	-	-	99,196,942.00
DEI Earnings Per Adjusted Shares Outstanding	0.00	0.00	0.41	-	-	-	-0.07
Growth Metrics	-	-	-	-	-	-	-
Revenue Growth	0.00%	-5.09%	31.81%	-0.70%	-10.57%	-4.18%	-9.39%
EBITDA Growth	0.00%	-11.36%	-6.03%	46.11%	-24.46%	-1.14%	-32.06%
EBIT Growth	0.00%	-26.20%	-20.13%	123.48%	-43.56%	0.00%	-61.07%
NOPAT Growth	0.00%	-26.11%	-19.04%	124.07%	-48.28%	17.37%	-65.33%
Net Income Growth	0.00%	-41.41%	-100.00%	0.00%	-76.86%	40.44%	-143.11%
EPS Growth	0.00%	-42.11%	-100.00%	0.00%	-77.08%	36.36%	-146.67%
Operating Cash Flow Growth	0.00%	53.22%	-20.16%	-56.02%	-19.77%	80.94%	-116.81%
Free Cash Flow Firm Growth	0.00%	0.00%	-116.72%	1,251.57%	-15.33%	145.20%	-107.31%
Invested Capital Growth	0.00%	0.00%	190.19%	58.24%	3.59%	-44.91%	43.33%
Revenue Q/Q Growth	0.00%	0.00%	0.00%	-2.36%	-0.66%	-1.60%	0.00%
EBITDA Q/Q Growth	0.00%	0.00%	0.00%	-7.37%	1.58%	-1.19%	0.00%
EBIT Q/Q Growth	0.00%	0.00%	0.00%	-12.06%	2.86%	-0.93%	0.00%
NOPAT Q/Q Growth	0.00%	0.00%	0.00%	72.58%	1.71%	2.30%	0.00%
Net Income Q/Q Growth	0.00%	0.00%	0.00%	60.42%	-1.91%	7.10%	0.00%
EPS Q/Q Growth	0.00%	0.00%	0.00%	50.00%	10.00%	-6.25%	0.00%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	-22.61%	6.89%	29.09%	4.01%	-365.46%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	0.00%	26.80%	15.10%	0.00%
Invested Capital Q/Q Growth	0.00%	0.00%	0.00%	7.58%	-0.59%	-17.66%	0.00%
Profitability Metrics	-	-	-	-	-	-	-
Gross Margin	38.19%	34.64%	41.43%	35.67%	35.24%	37.46%	34.79%
EBITDA Margin	14.33%	13.38%	9.54%	14.04%	11.86%	12.24%	9.17%
Operating Margin	7.42%	5.77%	3.50%	7.89%	4.96%	5.18%	2.14%
EBIT Margin	7.42%	5.77%	3.50%	7.87%	4.97%	5.19%	2.23%
Profit (Net Income) Margin	4.04%	2.49%	0.00%	3.90%	1.01%	1.48%	-0.70%
Tax Burden Percent	68.97%	69.06%	0.00%	70.04%	64.42%	75.54%	73.58%
Interest Burden Percent	78.84%	62.52%	0.00%	70.68%	31.51%	37.74%	-42.90%
Effective Tax Rate	31.03%	30.94%	0.00%	29.96%	35.58%	24.46%	0.00%
Return on Invested Capital (ROIC)	0.00%	423.65%	87.90%	102.56%	42.52%	63.24%	25.37%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	387.65%	71.77%	95.87%	34.33%	53.27%	16.94%
Return on Net Nonoperating Assets (RNNOA)	0.00%	-501.32%	-87.90%	-123.11%	-47.78%	-71.34%	-21.89%
Return on Equity (ROE)	0.00%	-77.67%	0.00%	-20.55%	-5.26%	-8.10%	3.48%
Cash Return on Invested Capital (CROIC)	0.00%	223.65%	-9.58%	57.45%	38.99%	121.16%	-10.25%
Operating Return on Assets (OROA)	0.00%	8.77%	7.40%	18.34%	11.40%	11.86%	5.01%
Return on Assets (ROA)	0.00%	3.78%	0.00%	9.08%	2.31%	3.38%	-1.58%
Return on Common Equity (ROCE)	0.00%	-77.67%	0.00%	-20.55%	-5.26%	-8.10%	3.48%
Return on Equity Simple (ROE_SIMPLE)	0.00%	-38.83%	0.00%	-21.81%	-5.49%	-8.54%	0.00%
Net Operating Profit after Tax (NOPAT)	53	39	32	71	37	43	15
NOPAT Margin	5.12%	3.99%	2.45%	5.53%	3.20%	3.92%	1.50%
Net Nonoperating Expense Percent (NNEP)	0.00%	36.00%	16.14%	6.69%	8.19%	9.97%	8.43%
Return On Investment Capital (ROIC_SIMPLE)	-	-	38.26%	71.90%	36.73%	44.34%	16.64%
Cost of Revenue to Revenue	61.81%	65.36%	58.57%	64.33%	64.76%	62.54%	65.21%
SG&A Expenses to Revenue	24.43%	23.65%	33.87%	23.13%	25.46%	27.36%	26.92%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	30.77%	28.87%	37.93%	27.79%	30.28%	32.28%	32.65%
Earnings before Interest and Taxes (EBIT)	77	57	45	101	57	57	22
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	149	132	124	181	137	135	92
Valuation Ratios	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.16	0.17	0.75	0.30	0.45	0.67	0.11
Price to Earnings (P/E)	4.01	6.85	21.40	7.71	44.73	47.01	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	24.92%	14.60%	4.67%	12.97%	2.24%	2.13%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	13.48	23.87	8.23	9.27	20.17	5.71
Enterprise Value to Revenue (EV/Rev)	0.00	0.25	0.99	0.54	0.71	0.89	0.40
Enterprise Value to EBITDA (EV/EBITDA)	0.00	1.90	10.37	3.87	5.98	7.25	4.33
Enterprise Value to EBIT (EV/EBIT)	0.00	4.39	28.27	6.90	14.28	17.11	17.82
Enterprise Value to NOPAT (EV/NOPAT)	0.00	6.36	40.39	9.83	22.20	22.66	26.50
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	1.64	10.58	13.13	19.11	12.65	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	12.05	0.00	17.55	24.20	11.83	0.00
Leverage & Solvency	-	-	-	-	-	-	-
Debt to Equity	0.00	-3.24	-1.32	-1.43	-1.47	-1.51	-1.42
Long-Term Debt to Equity	0.00	-3.06	-1.24	-1.32	-1.36	-1.43	-1.20
Financial Leverage	0.00	-1.29	-1.22	-1.28	-1.39	-1.34	-1.29
Leverage Ratio	0.00	-10.26	-3.82	-2.26	-2.27	-2.40	-2.20
Compound Leverage Factor	0.00	-6.42	0.00	-1.60	-0.72	-0.90	0.94
Debt to Total Capital	0.00%	144.57%	411.07%	332.56%	311.19%	296.06%	337.06%
Short-Term Debt to Total Capital	0.00%	8.12%	24.71%	24.77%	23.36%	16.56%	52.39%
Long-Term Debt to Total Capital	0.00%	136.45%	386.36%	307.78%	287.83%	279.50%	284.67%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	0.00%	-44.57%	-311.07%	-232.56%	-211.19%	-196.06%	-237.06%
Debt to EBITDA	0.00	1.56	2.76	1.82	2.28	2.14	3.31
Net Debt to EBITDA	0.00	0.62	2.52	1.74	2.19	1.77	3.08
Long-Term Debt to EBITDA	0.00	1.47	2.59	1.68	2.11	2.02	2.79
Debt to NOPAT	0.00	5.22	10.75	4.63	8.47	6.68	20.25
Net Debt to NOPAT	0.00	2.08	9.82	4.43	8.14	5.55	18.89
Long-Term Debt to NOPAT	0.00	4.93	10.10	4.28	7.84	6.30	17.11
Altman Z-Score	0.00	1.75	2.13	2.31	2.11	2.26	1.44
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-
Current Ratio	0.00	0.93	0.74	0.81	0.77	0.86	0.78
Quick Ratio	0.00	0.47	0.10	0.05	0.05	0.18	0.08
Cash Flow Metrics	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	21	-3.46	40	34	83	-6.05
Operating Cash Flow to CapEx	177.32%	1,312.20%	690.63%	228.13%	164.49%	537.73%	-147.01%
Free Cash Flow to Firm to Interest Expense	0.00	0.97	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	6.01	7.12	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	2.62	6.57	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-
Asset Turnover	0.00	1.52	2.12	2.33	2.29	2.29	2.25
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Inventory Turnover	0.00	6.08	5.50	4.73	4.63	4.75	4.58
Fixed Asset Turnover	0.00	6.87	9.58	10.68	10.61	12.18	15.47
Accounts Payable Turnover	0.00	9.08	9.33	9.85	12.19	11.64	10.10
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	0.00	60.06	66.40	77.23	78.84	76.86	79.75
Days Payable Outstanding (DPO)	0.00	40.21	39.13	37.06	29.94	31.35	36.14
Cash Conversion Cycle (CCC)	0.00	19.86	27.27	40.17	48.90	45.51	43.61
Capital & Investment Metrics	-	-	-	-	-	-	-
Invested Capital	0.00	19	54	85	88	49	70
Invested Capital Turnover	0.00	106.26	35.90	18.56	13.30	16.15	16.93
Increase / (Decrease) in Invested Capital	0.00	19	35	31	3.05	-40	21
Enterprise Value (EV)	0.00	250	1,283	700	817	979	397
Market Capitalization	168	168	971	385	517	740	114
Book Value per Share	$0.00	($0.57)	($2.35)	($2.22)	($2.03)	($1.82)	($2.15)
Tangible Book Value per Share	$0.00	($0.65)	($2.42)	($2.30)	($2.11)	($1.90)	($2.24)
Total Capital	0.00	142	83	99	100	97	90
Total Debt	0.00	205	341	329	312	289	303
Total Long-Term Debt	0.00	193	321	305	289	272	256
Net Debt	0.00	82	312	315	300	240	283
Capital Expenditures (CapEx)	56	12	18	23	26	14	8.85
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	-131	-85	-41	-42	-70	-29
Debt-free Net Working Capital (DFNWC)	0.00	-7.47	-56	-27	-30	-21	-8.29
Net Working Capital (NWC)	0.00	-19	-76	-51	-53	-37	-55
Net Nonoperating Expense (NNE)	11	15	32	21	25	27	22
Net Nonoperating Obligations (NNO)	0.00	82	312	315	300	240	283
Total Depreciation and Amortization (D&A)	72	75	78	79	79	78	69
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	-13.28%	-6.54%	-3.15%	-3.62%	-6.32%	-2.87%
Debt-free Net Working Capital to Revenue	0.00%	-0.76%	-4.28%	-2.07%	-2.57%	-1.89%	-0.83%
Net Working Capital to Revenue	0.00%	-1.93%	-5.87%	-3.98%	-4.60%	-3.35%	-5.55%
Earnings Adjustments	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	($0.27)	$0.00	$0.11	$0.16	($0.07)
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	109.89M	0.00	103.99M	104.56M	101.44M
Adjusted Diluted Earnings per Share	$0.00	$0.00	($0.27)	$0.00	$0.11	$0.15	($0.07)
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	109.89M	0.00	104.40M	105.68M	101.44M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	105.86M	0.00	104.33M	104.93M	99.32M
Normalized Net Operating Profit after Tax (NOPAT)	53	39	32	71	37	43	15
Normalized NOPAT Margin	5.12%	3.99%	2.45%	5.53%	3.20%	3.92%	1.50%
Pre Tax Income Margin	5.85%	3.61%	0.00%	5.56%	1.57%	1.96%	-0.96%
Debt Service Ratios	-	-	-	-	-	-	-
EBIT to Interest Expense	4.67	2.66	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	3.22	1.84	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	1.28	2.12	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	-0.17	1.30	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-
Dividend Payout Ratio	612.43%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	612.43%	0.00%	0.00%	63.14%	0.00%	0.00%	-285.54%

This table displays calculated financial ratios and metrics derived from Torrid's official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026
Period end date	10/28/2023	2/3/2024	5/4/2024	8/3/2024	11/2/2024	2/1/2025	5/3/2025	8/2/2025	11/1/2025	5/2/2026	8/1/2026
DEI Shares Outstanding	-	-	-	-	-	-	104,928,245.00	105,020,625.00	105,020,625.00	99,316,586.00	99,520,381.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	104,928,245.00	105,020,625.00	105,020,625.00	99,316,586.00	99,520,381.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	0.06	0.01	-0.06	0.00	0.05
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-8.26%	-2.55%	-4.79%	-1.56%	-4.23%	-6.12%	-4.93%	-7.67%	-10.85%	-7.58%	-11.83%
EBITDA Growth	-34.15%	10.43%	0.52%	0.09%	1.90%	-9.33%	-22.66%	-28.29%	-100.20%	-37.14%	-7.82%
EBIT Growth	-66.85%	72.68%	0.12%	1.28%	14.35%	-28.57%	-35.72%	-50.47%	-100.71%	-48.66%	41.46%
NOPAT Growth	-62.12%	59.64%	2.65%	18.96%	4.65%	-14.07%	-41.87%	-48.04%	-97.15%	-63.35%	48.25%
Net Income Growth	-137.76%	-5.88%	3.08%	25.63%	56.55%	26.58%	-51.20%	-81.18%	-438.19%	-93.03%	230.38%
EPS Growth	-142.86%	25.00%	9.09%	33.33%	66.67%	-33.33%	-50.00%	-75.00%	-500.00%	-100.00%	150.00%
Operating Cash Flow Growth	-78.84%	1,611.87%	146.14%	99.41%	-251.40%	32.99%	-165.22%	-61.43%	0.00%	162.05%	-107.07%
Free Cash Flow Firm Growth	-102.19%	99.18%	1,388.17%	6,412.83%	830.81%	17,343.94%	-50.67%	27.86%	-123.30%	-6.48%	-205.25%
Invested Capital Growth	12.10%	3.59%	-13.48%	-38.12%	-33.49%	-44.91%	-5.61%	0.00%	13.97%	-13.80%	0.00%
Revenue Q/Q Growth	-4.75%	6.58%	-4.69%	1.74%	-7.33%	4.47%	-3.48%	-1.19%	0.00%	0.00%	-5.73%
EBITDA Q/Q Growth	-34.41%	-4.51%	85.99%	-12.94%	-33.22%	-15.04%	56.56%	-19.27%	0.00%	0.00%	18.38%
EBIT Q/Q Growth	-67.38%	-34.35%	548.39%	-21.11%	-63.17%	-58.99%	439.43%	-39.20%	0.00%	0.00%	67.53%
NOPAT Q/Q Growth	-61.59%	-41.66%	579.77%	-21.91%	-66.21%	-52.10%	359.87%	-30.21%	0.00%	0.00%	182.33%
Net Income Q/Q Growth	-141.45%	-48.11%	399.07%	-31.58%	-114.34%	-150.25%	298.80%	-73.62%	0.00%	0.00%	1,150.48%
EPS Q/Q Growth	-150.00%	0.00%	500.00%	-33.33%	-112.50%	-300.00%	250.00%	-66.67%	0.00%	0.00%	0.00%
Operating Cash Flow Q/Q Growth	-90.06%	344.28%	205.54%	47.78%	-107.55%	490.26%	-249.83%	187.40%	0.00%	289.76%	-109.96%
Free Cash Flow Firm Q/Q Growth	-527.78%	94.88%	13,136.95%	50.51%	-27.32%	20.92%	-62.71%	290.13%	0.00%	0.00%	-539.06%
Invested Capital Q/Q Growth	2.82%	-0.59%	-7.90%	-34.28%	10.52%	-17.66%	57.81%	-100.00%	0.00%	0.00%	14.78%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	33.22%	34.46%	41.26%	38.74%	36.08%	33.62%	38.13%	35.57%	34.95%	35.32%	38.73%
EBITDA Margin	9.50%	8.51%	16.39%	14.02%	10.10%	8.22%	13.33%	10.89%	-0.02%	9.07%	11.39%
Operating Margin	2.50%	1.37%	9.34%	7.17%	2.73%	1.25%	6.03%	3.87%	0.09%	3.48%	6.27%
EBIT Margin	2.40%	1.48%	9.31%	7.22%	2.87%	1.13%	6.29%	3.87%	-0.02%	3.49%	6.21%
Profit (Net Income) Margin	-1.00%	-1.39%	4.35%	2.93%	-0.45%	-1.08%	2.23%	0.60%	-2.73%	0.17%	2.23%
Tax Burden Percent	87.46%	67.51%	73.08%	73.08%	97.87%	57.15%	69.30%	76.29%	80.73%	47.53%	79.04%
Interest Burden Percent	-47.50%	-138.82%	63.98%	55.49%	-16.13%	-168.54%	51.23%	20.19%	14,740.74%	10.14%	45.51%
Effective Tax Rate	0.00%	0.00%	26.92%	26.92%	0.00%	0.00%	30.70%	23.71%	0.00%	52.47%	20.96%
Return on Invested Capital (ROIC)	24.19%	12.74%	88.83%	85.14%	29.05%	14.16%	57.70%	0.00%	0.00%	22.75%	124.17%
ROIC Less NNEP Spread (ROIC-NNEP)	21.69%	10.50%	86.48%	82.68%	26.77%	12.15%	55.79%	0.00%	0.00%	21.39%	119.69%
Return on Net Nonoperating Assets (RNNOA)	-29.99%	-14.62%	-122.93%	-111.77%	-36.68%	-16.28%	-78.80%	0.00%	0.00%	-29.11%	-163.76%
Return on Equity (ROE)	-5.80%	-1.88%	-34.11%	-26.63%	-7.63%	-2.12%	-21.10%	0.00%	0.00%	-6.35%	-39.59%
Cash Return on Invested Capital (CROIC)	31.76%	38.99%	57.63%	106.77%	97.47%	121.16%	50.31%	0.00%	0.00%	28.51%	-166.16%
Operating Return on Assets (OROA)	5.19%	3.39%	21.28%	16.69%	6.42%	2.57%	14.73%	0.00%	0.00%	8.02%	15.86%
Return on Assets (ROA)	-2.16%	-3.18%	9.95%	6.77%	-1.01%	-2.48%	5.23%	0.00%	0.00%	0.39%	5.71%
Return on Common Equity (ROCE)	-5.80%	-1.88%	-34.11%	-26.63%	-7.63%	-2.12%	-21.10%	0.00%	0.00%	-6.35%	-39.59%
Return on Equity Simple (ROE_SIMPLE)	-5.66%	0.00%	-6.03%	-7.24%	-8.05%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	4.82	2.81	19	15	5.04	2.42	11	7.75	0.14	4.07	11
NOPAT Margin	1.75%	0.96%	6.83%	5.24%	1.91%	0.88%	4.18%	2.95%	0.06%	1.66%	4.96%
Net Nonoperating Expense Percent (NNEP)	2.50%	2.24%	2.35%	2.46%	2.28%	2.00%	1.91%	0.00%	2.52%	1.36%	4.48%
Return On Investment Capital (ROIC_SIMPLE)	4.61%	2.80%	-	-	4.88%	2.48%	11.03%	-	0.17%	4.56%	11.70%
Cost of Revenue to Revenue	66.78%	65.54%	58.74%	61.26%	63.92%	66.38%	61.87%	64.43%	65.05%	64.68%	61.27%
SG&A Expenses to Revenue	26.10%	27.47%	27.33%	27.00%	28.40%	26.79%	26.33%	26.83%	28.18%	25.92%	26.70%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	30.73%	33.09%	31.91%	31.56%	33.35%	32.36%	32.10%	31.71%	34.86%	31.84%	32.46%
Earnings before Interest and Taxes (EBIT)	6.62	4.34	26	21	7.56	3.10	17	10	-0.05	8.59	14
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	26	25	46	40	27	23	35	29	-0.05	22	26
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.19	0.45	0.49	0.71	0.34	0.67	0.62	0.25	0.00	0.17	0.27
Price to Earnings (P/E)	20.72	44.73	47.26	60.12	24.89	47.01	68.02	81.94	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	4.83%	2.24%	2.12%	1.66%	4.02%	2.13%	1.47%	1.22%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	5.90	9.27	10.26	19.65	10.60	20.17	12.25	0.00	6.03	6.75	7.06
Enterprise Value to Revenue (EV/Rev)	0.45	0.71	0.73	0.92	0.56	0.89	0.86	0.00	0.00	0.45	0.56
Enterprise Value to EBITDA (EV/EBITDA)	3.89	5.98	6.09	7.66	4.57	7.25	7.53	0.00	0.00	5.67	7.01
Enterprise Value to EBIT (EV/EBIT)	9.39	14.28	14.55	18.24	10.82	17.11	19.57	0.00	0.00	31.53	29.16
Enterprise Value to NOPAT (EV/NOPAT)	14.44	22.20	22.05	25.17	14.80	22.66	26.71	0.00	0.00	45.69	41.76
Enterprise Value to Operating Cash Flow (EV/OCF)	15.78	19.11	14.07	13.18	8.40	12.65	29.55	0.00	82.61	27.55	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	19.63	24.20	16.52	14.07	8.69	11.83	23.64	0.00	0.00	21.93	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	-1.50	-1.47	-1.51	-1.57	-1.55	-1.51	-1.55	0.00	-1.41	-1.42	-1.48
Long-Term Debt to Equity	-1.40	-1.36	-1.43	-1.48	-1.46	-1.43	-1.46	0.00	-1.26	-1.19	-1.21
Financial Leverage	-1.38	-1.39	-1.42	-1.35	-1.37	-1.34	-1.41	0.00	-1.32	-1.36	-1.37
Leverage Ratio	-2.45	-2.27	-2.40	-2.47	-2.52	-2.40	-2.43	0.00	-2.26	-2.16	-1.80
Compound Leverage Factor	1.16	3.15	-1.53	-1.37	0.41	4.04	-1.25	0.00	-333.67	-0.22	-0.82
Debt to Total Capital	300.04%	311.19%	294.71%	275.47%	283.23%	296.06%	282.55%	0.00%	343.53%	337.33%	309.56%
Short-Term Debt to Total Capital	20.31%	23.36%	15.82%	14.99%	15.63%	16.56%	16.03%	0.00%	36.57%	54.86%	56.85%
Long-Term Debt to Total Capital	279.73%	287.83%	278.88%	260.48%	267.61%	279.50%	266.52%	0.00%	306.96%	282.48%	252.71%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	-200.04%	-211.19%	-194.71%	-175.47%	-183.23%	-196.06%	-182.55%	0.00%	-243.53%	-237.33%	-209.56%
Debt to EBITDA	2.33	2.28	2.20	2.17	2.14	2.14	2.28	0.00	0.00	3.83	3.98
Net Debt to EBITDA	2.21	2.19	2.05	1.77	1.82	1.77	2.09	0.00	0.00	3.54	3.69
Long-Term Debt to EBITDA	2.18	2.11	2.08	2.05	2.02	2.02	2.15	0.00	0.00	3.21	3.25
Debt to NOPAT	8.67	8.47	7.96	7.12	6.93	6.68	8.10	0.00	0.00	30.87	23.71
Net Debt to NOPAT	8.23	8.14	7.41	5.82	5.88	5.55	7.41	0.00	0.00	28.49	21.96
Long-Term Debt to NOPAT	8.08	7.84	7.53	6.74	6.54	6.30	7.64	0.00	0.00	25.85	19.36
Altman Z-Score	1.48	1.74	1.96	2.17	1.66	1.89	2.09	0.00	0.00	1.33	1.54
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.86	0.77	0.83	0.88	0.89	0.86	0.87	0.00	0.81	0.79	0.79
Quick Ratio	0.06	0.05	0.09	0.22	0.18	0.18	0.10	0.00	0.07	0.09	0.09
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-4.75	-0.24	32	48	35	42	16	61	-8.09	15	-64
Operating Cash Flow to CapEx	36.11%	83.92%	394.18%	1,286.98%	-126.43%	677.41%	-707.30%	1,400.80%	0.00%	203.85%	-57.64%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	3.39	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	2.95	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	2.20	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	2.16	2.29	2.29	2.31	2.24	2.29	2.34	0.00	0.00	2.30	2.55
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Inventory Turnover	4.09	4.63	4.55	5.00	4.52	4.75	4.69	0.00	0.00	4.43	4.93
Fixed Asset Turnover	10.71	10.61	11.02	11.67	12.04	12.18	12.82	0.00	0.00	16.03	20.21
Accounts Payable Turnover	7.44	12.19	10.66	10.94	8.94	11.64	11.41	0.00	0.00	9.22	10.73
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	89.23	78.84	80.22	73.06	80.67	76.86	77.81	0.00	0.00	82.48	74.04
Days Payable Outstanding (DPO)	49.04	29.94	34.23	33.36	40.82	31.35	31.98	0.00	0.00	39.60	34.02
Cash Conversion Cycle (CCC)	40.19	48.90	45.99	39.70	39.85	45.51	45.83	0.00	0.00	42.88	40.01
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	89	88	81	53	59	49	77	0.00	67	66	76
Invested Capital Turnover	13.83	13.30	13.01	16.24	15.20	16.15	13.82	0.00	0.00	13.74	25.04
Increase / (Decrease) in Invested Capital	9.57	3.05	-13	-33	-30	-40	-4.55	-53	8.24	-11	76
Enterprise Value (EV)	523	817	833	1,048	625	979	938	0.00	405	446	535
Market Capitalization	225	517	553	806	377	740	678	263	131	168	254
Book Value per Share	($2.01)	($2.03)	($1.90)	($1.81)	($1.81)	($1.82)	($1.75)	$0.00	($2.08)	($2.13)	($2.07)
Tangible Book Value per Share	($2.09)	($2.11)	($1.98)	($1.89)	($1.89)	($1.90)	($1.83)	$0.00	($2.17)	($2.22)	($2.15)
Total Capital	105	100	102	108	103	97	101	0.00	85	89	98
Total Debt	314	312	301	297	293	289	285	0.00	291	301	304
Total Long-Term Debt	293	289	285	280	276	272	268	0.00	260	252	248
Net Debt	298	300	280	242	248	240	260	0.00	274	278	282
Capital Expenditures (CapEx)	5.64	11	7.01	3.17	2.44	1.78	2.55	1.12	0.00	5.48	1.93
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-31	-42	-45	-67	-57	-70	-38	0.00	-31	-30	-15
Debt-free Net Working Capital (DFNWC)	-15	-30	-24	-12	-12	-21	-13	0.00	-13	-6.95	7.51
Net Working Capital (NWC)	-36	-53	-40	-28	-28	-37	-30	0.00	-44	-56	-48
Net Nonoperating Expense (NNE)	7.57	6.88	6.93	6.59	6.24	5.40	5.17	6.18	6.57	3.66	6.31
Net Nonoperating Obligations (NNO)	298	300	280	242	248	240	260	0.00	274	278	282
Total Depreciation and Amortization (D&A)	20	21	20	19	19	20	19	18	0.00	14	12
Debt-free, Cash-free Net Working Capital to Revenue	-2.66%	-3.62%	-3.93%	-5.88%	-5.05%	-6.32%	-3.45%	0.00%	0.00%	-3.08%	-1.57%
Debt-free Net Working Capital to Revenue	-1.28%	-2.57%	-2.10%	-1.08%	-1.09%	-1.89%	-1.24%	0.00%	0.00%	-0.71%	0.79%
Net Working Capital to Revenue	-3.12%	-4.60%	-3.52%	-2.51%	-2.53%	-3.35%	-2.72%	0.00%	0.00%	-5.71%	-5.09%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.03)	($0.03)	$0.12	$0.08	($0.01)	($0.03)	$0.06	$0.00	($0.06)	$0.00	$0.05
Adjusted Weighted Average Basic Shares Outstanding	104.08M	103.99M	104.27M	104.50M	104.70M	104.56M	104.92M	0.00	99.16M	99.39M	99.60M
Adjusted Diluted Earnings per Share	($0.03)	($0.03)	$0.12	$0.08	($0.01)	($0.04)	$0.06	$0.00	($0.06)	$0.00	$0.05
Adjusted Weighted Average Diluted Shares Outstanding	104.08M	104.40M	105.25M	106.07M	104.70M	105.68M	106.04M	0.00	99.16M	99.55M	100.21M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	104.10M	104.33M	104.35M	104.68M	104.76M	104.93M	105.02M	0.00	99.20M	99.52M	99.72M
Normalized Net Operating Profit after Tax (NOPAT)	4.82	2.81	19	15	5.04	2.42	11	7.75	0.14	5.99	11
Normalized NOPAT Margin	1.75%	0.96%	6.83%	5.24%	1.91%	0.88%	4.18%	2.95%	0.06%	2.44%	4.96%
Pre Tax Income Margin	-1.14%	-2.05%	5.95%	4.00%	-0.46%	-1.90%	3.22%	0.78%	-3.39%	0.35%	2.83%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	2.78	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	2.04	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	2.03	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	1.29	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-161.39%	-3.03%

Financials Breakdown Chart

Key Financial Trends

Torrid Holdings Inc. (NYSE: CURV) showed a meaningful year-over-year earnings rebound in Q1 2026, but the balance sheet remains highly leveraged and still carries negative equity. Revenue declined modestly, yet the company swung from a loss in the prior quarter to a small profit, and operating cash flow turned positive again. The bigger picture, however, is that Torrid is still working through a heavy debt load and a balance sheet that remains structurally weak.

Profitability improved sharply from the prior quarter. Q1 2026 net income attributable to common shareholders was $429,000 versus a loss of $8.1 million in Q4 2025.
Operating cash flow recovered. Torrid generated $11.2 million of cash from operations in Q1 2026, compared with a $5.9 million operating cash burn in Q4 2025.
Gross margin held up reasonably well. Gross profit was $86.8 million on $245.8 million of revenue, giving the company room to cover operating costs.
Quarter-end cash increased sequentially. Cash and equivalents rose to $22.8 million from $17.2 million in Q3 2025.
Revenue was fairly stable year over year. Q1 2026 revenue of $245.8 million was down only about 7.6% from $266.0 million in Q1 2025.
Depreciation and amortization remain meaningful non-cash add-backs. That supports reported operating cash flow, but it also highlights the capital intensity of the business.
Inventory increased sequentially. Inventories rose to $142.6 million from $128.8 million in Q3 2025, which could be helpful for in-stock levels but also raises the risk of markdowns if demand softens.
Capital spending stayed modest. Torrid spent $5.5 million on property, plant and equipment in Q1 2026, suggesting limited near-term investment pressure.
Revenue still declined year over year. Sales fell from $266.0 million in Q1 2025 to $245.8 million in Q1 2026.
Interest expense remains a major drag. Torrid posted $7.7 million of net interest and investment expense in Q1 2026, which nearly erased operating profit.
Balance sheet leverage is still very high. Total debt was about $301.2 million, including $48.9 million of short-term debt and $252.2 million of long-term debt.
Working capital remains strained. Current liabilities of $260.4 million exceeded current assets of $204.4 million, implying a current ratio below 1.0.
Equity remains negative. Torrid reported total common equity of negative $211.9 million, underscoring how leveraged the capital structure remains.
Cash generation is still uneven over time. While Q1 2026 improved, Q4 2025 and several earlier quarters showed weak or negative operating cash flow, so the recovery is not yet fully established.

Bottom line: Torrid’s latest quarter shows encouraging operational improvement, especially in earnings and operating cash flow. But investors should not ignore the debt burden, negative equity, and ongoing interest expense. For CURV, the key question is whether the recent improvement becomes a durable trend rather than just a short-term bounce.

09/25/26 09:09 AM ETAI Generated. May Contain Errors.

Torrid Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Torrid's fiscal year ends in January. Their fiscal year 2026 ended on January 31, 2026.

Torrid's net income appears to be on a downward trend, with a most recent value of -$7.03 million in 2025, compared with $41.87 million in 2019. The previous period was $16.32 million in 2024. Check out Torrid's forecast to explore projected trends and price targets.

Torrid's total operating income in 2025 was $21.40 million, based on the following breakdown:

Total Gross Profit: $347.96 million
Total Operating Expenses: $326.56 million

Over the last 6 years, Torrid's total revenue changed from $1.04 billion in 2019 to $1.00 billion in 2025, a change of -3.6%.

In the past 15 quarters, Torrid's cash and equivalents has ranged from $15.60 million in Q3 2023 to $53.94 million in Q2 2024, and is currently $22.00 million as of their latest financial filing in Q2 2026.

Torrid had total debt of $303.43 million at the end of 2025, a 5.2% increase from 2024, and none in 2019.

Over the last 6 years, Torrid's book value per share changed from 0.00 in 2019 to -2.15 in 2025.

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Financial statements for NYSE:CURV last updated on 9/10/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Torrid (CURV) Financials

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Torrid (CURV) Financials

Annual Income Statements for Torrid

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Quarterly Cash Flow Statements for Torrid

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Quarterly Metrics And Ratios for Torrid

Financials Breakdown Chart

Key Financial Trends

Torrid Financials - Frequently Asked Questions

When does Torrid's financial year end?

How has Torrid's net income changed over the last 6 years?

What is Torrid's operating income?

How has Torrid's revenue changed over the last 6 years?

How much cash does Torrid have?

How much debt does Torrid have?

How has Torrid's book value per share changed over the last 6 years?

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