A Business at a Glance
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Our mission is to power women to feel their best every day. Since our founding in November 2009, we have built the world’s first shared designer closet with thousands of styles by hundreds of brand partners. We give customers access to our “unlimited closet” through our subscription offering (“Subscription”) or the ability to rent a-la-carte through our reserve offering (“Reserve”). We also give our subscribers and customers the ability to buy our products through our Resale offering. Our Closet in the Cloud offers a wide assortment of items for every occasion, from evening wear and accessories to ready-to-wear, workwear, denim, casual, maternity, outerwear, blouses, knitwear, loungewear, jewelry, handbags, activewear and ski wear. We have served approximately 3 million lifetime customers across all of our offerings and we had 164,004 total subscribers (active and paused) as of January 31, 2025. We had 119,778 active subscribers as of January 31, 2025.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 315M | 306M | 298M | 296M | 203M | 158M |
| Net Income | 11M | -70M | -113M | -139M | -212M | -171M |
| EPS | $1.71 | $-18.51 | $-33.12 | $-43.17 | $-170.20 | $-307.20 |
| Free Cash Flow | -6.6M | 8.5M | -20M | -57M | -53M | -67M |
| ROIC | -271.6% | -46.2% | -61.4% | -58.5% | -63.8% | -40.7% |
| Gross Margin | 72.3% | 73.0% | 71.2% | 68.9% | 69.6% | 66.3% |
| Debt/Equity | 0.00 | -1.83 | -2.52 | -7.75 | 3.67 | -0.67 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | -64M | -48M | -80M | -104M | -126M | -131M |
| Operating Margin | -20.3% | -15.5% | -26.8% | -35.0% | -61.9% | -82.9% |
| ROE | 0.0% | - | - | - | -297.9% | - |
| Shares Outstanding | 33M | 4M | 3M | 3M | 3M | 3M |
| Metric | 2021 | 2022 | 2023 | |||
|---|---|---|---|---|---|---|
| Income Statement | ||||||
| Revenue | 158M | 203M | 296M | 298M | 306M | 315M |
| Gross Margin | 66.3% | 69.6% | 68.9% | 71.2% | 73.0% | 72.3% |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 77M | 104M | 109M | 102M | 87M | 89M |
| EBIT | -131M | -126M | -104M | -80M | -48M | -64M |
| Op. Margin | -82.9% | -61.9% | -35.0% | -26.8% | -15.5% | -20.3% |
| Net Income | -171M | -212M | -139M | -113M | -70M | 11M |
| Net Margin | -108.6% | -104.2% | -46.8% | -38.0% | -22.8% | 3.4% |
| Non-Recurring | 0 | 0 | 7.7M | 3.1M | 200K | 0 |
| Returns on Capital | ||||||
| ROIC | -40.7% | -63.8% | -58.5% | -61.4% | -46.2% | N/M |
| ROE | N/A | -297.9% | N/A | N/A | N/A | 0.0% |
| ROA | -53.4% | -47.3% | -41.3% | -40.6% | -27.0% | 4.6% |
| Cash Flow | ||||||
| Op. Cash Flow | -43M | -42M | -48M | -16M | 13M | -2.2M |
| Free Cash Flow | -67M | -53M | -57M | -20M | 8.5M | -6.6M |
| Owner Earnings | -107M | -114M | -119M | -86M | -43M | -52M |
| CapEx | 24M | 10M | 8.9M | 4.6M | 4.4M | 4.4M |
| Maint. CapEx | 56M | 46M | 46M | 44M | 46M | 44M |
| Growth CapEx | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 56M | 46M | 46M | 44M | 46M | 44M |
| CapEx/OCF | N/A | N/A | N/A | N/A | 34.1% | 0.0% |
| Capital Allocation | ||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | 8.2M | 27M | 25M | 26M | 9.7M | 5.9M |
| Debt Repayment | 0 | 135M | 0 | 0 | 0 | 0 |
| Balance Sheet | ||||||
| Net Debt | 165M | -234M | -35M | 140M | 179M | 58M |
| Cash & Equiv. | 95M | 248M | 155M | 84M | 77M | 101M |
| Long-Term Debt | 355M | 261M | 273M | 307M | 334M | 159M |
| Debt/Equity | -0.67 | 3.67 | -7.75 | -2.52 | -1.83 | 0.00 |
| Interest Coverage | -217.5 | -10.3 | N/A | -2.4 | -2.0 | -2.0 |
| Equity | -527M | 71M | -35M | -122M | -183M | -35M |
| Total Assets | 321M | 448M | 336M | 279M | 240M | 231M |
| Total Liabilities | 847M | 376M | 372M | 401M | 423M | 266M |
| Intangibles | 16M | 13M | 8.2M | 6.8M | 4.8M | 4.6M |
| Retained Earnings | -589M | -801M | -940M | -1.1B | -1.1B | -1.1B |
| Working Capital | 63M | 196M | 112M | 54M | 47M | -1.9M |
| Current Assets | 103M | 265M | 172M | 102M | 94M | 67M |
| Current Liabilities | 41M | 69M | 60M | 48M | 47M | 69M |
| Per Share Data | ||||||
| EPS | -307.20 | -170.20 | -43.17 | -33.12 | -18.51 | 1.71 |
| Owner EPS | -33.44 | -34.45 | -37.13 | -25.13 | -11.39 | -1.55 |
| Book Value | -164.78 | 21.39 | -10.99 | -35.78 | -48.33 | -1.05 |
| Cash Flow/Share | -13.39 | -12.73 | -14.85 | -4.59 | 3.42 | 1.62 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 3.2M | 3.3M | 3.2M | 3.4M | 3.8M | 33.4M |
| Valuation | ||||||
| P/E Ratio | N/A | N/A | N/A | N/A | N/A | 3.1 |
| P/FCF | N/A | N/A | N/A | N/A | 3.7 | N/A |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A |
| Price/Book | N/A | 1.8 | N/A | N/A | N/A | N/A |
| Price/Sales | N/A | N/A | N/A | N/A | 1.2 | 0.6 |
| FCF Yield | N/A | -40.8% | -21.2% | -49.9% | 26.7% | -3.8% |
| Market Cap | N/A | 129M | 267M | 41M | 32M | 174M |
| Avg. Price | N/A | 223.76 | 80.08 | 35.27 | 12.42 | 5.22 |
| Year-End Price | N/A | 103.60 | 83.00 | 11.90 | 8.42 | 5.22 |
Rent the Runway, Inc. passes 1 of 9 quality checks, indicating weak fundamentals.
Rent the Runway, Inc. trades at 3.1x trailing earnings, compared to its 15-year median P/E of 15.0x, suggesting it is currently Cheap relative to its historical range. The company's 5-year average gross margin is 69.8%.
Rent the Runway, Inc. (RENT) has a current P/E ratio of 3.1, compared to its historical median P/E of 15.0. The stock is currently considered Cheap based on its historical valuation range.
Rent the Runway, Inc. (RENT) has a 5-year average return on invested capital (ROIC) of -54.1%. This is below average and may indicate limited pricing power.
Rent the Runway, Inc. (RENT) has a market capitalization of $174M. It is classified as a small-cap stock.
Rent the Runway, Inc. (RENT) does not currently pay a regular dividend.
Based on historical P/E analysis, Rent the Runway, Inc. (RENT) appears cheap. The current P/E of 3.1 is 80% below its historical median of 15.0.
Rent the Runway, Inc. (RENT) operates in the Retail-Retail Stores, Nec industry, within the Consumer Cyclical sector.
Rent the Runway, Inc. (RENT) reported annual revenue of $306 million in its most recent fiscal year, based on SEC EDGAR filings.
Rent the Runway, Inc. (RENT) has a net profit margin of -22.8%. The company is currently unprofitable.
Rent the Runway, Inc. (RENT) generated $9 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Rent the Runway, Inc. (RENT) reported earnings per share (EPS) of $-18.51 in its most recent fiscal year.
Rent the Runway, Inc. (RENT) has a 5-year average gross margin of 69.8%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 5 years of financial data for Rent the Runway, Inc. (RENT), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Rent the Runway, Inc. (RENT) has a book value per share of $-48.33, based on its most recent annual SEC filing.