# Reformation Inc. (REF) fundamentals

Data as of 2026-09-08. NYSE, United States. Sector: Consumer Cyclical / Textiles, Apparel & Luxury Goods. Price $13.69, market value $809 million.

## Valuation
- **P/E (trailing): 136.9×**. Reformation Inc. trades at 136.9× trailing earnings. The Consumer Cyclical median in the September 2026 study was 19.5×. Forward P/E is 19.7×, lower than trailing, so analysts expect earnings to grow.
- **Price / sales: 1.6×**. Each dollar of revenue is priced at 1.6×.
- **Price / book: 1.5×**. The shares trade at 1.5× book value; book value is a meaningful part of the valuation.
- **EV / EBITDA: 24.3×**. Enterprise value is 24.3× operating earnings before depreciation, the multiple that ignores how the company is financed; above 20× is demanding.
- **Free-cash-flow yield: -2.2%**. Free cash flow is negative: the business is consuming cash, which is normal for heavy investment phases but a warning otherwise.
- **Earnings yield: 0.7%**. The inverse of the P/E: 0.7% of the price is earned each year.

## Profitability
- **Gross margin: 60.2%**. Reformation Inc. keeps 60.2% of revenue after the direct cost of what it sells, the kind of margin that comes with software, brands or pricing power.
- **Operating margin: 5.7%**. 5.7% of revenue is left after running the business.
- **Net margin: 2.5%**. 2.5% of each dollar of sales reaches the bottom line.
- **Return on equity: 2.9%**. 2.9% on shareholders' equity is weak; the business earns little on the capital its owners have in it.
- **Return on invested capital: 3.0%**. Return on all capital, debt included, is 3.0%: close to or below the cost of capital, so growth may not create value.
- **Return on assets: 1.3%**. Each dollar of assets produces 1.3% of profit.

## Growth
- **Revenue growth (1 yr): 15.7%**. Revenue grew 15.7% over the last year.
- **EPS growth (1 yr): -61.6%**. Earnings per share fell 61.6%, slower than revenue, so margins compressed.

## Financial health
- **Debt to equity: 0.77**. Debt is 0.77 times equity, moderate leverage.
- **Net debt / EBITDA: 6.1×**. It would take 6.1 years of operating earnings to repay net borrowings, above the 3× level most lenders treat as comfortable.
- **Interest coverage: 2.0×**. Operating profit covers interest 2.0×, thin but manageable.
- **Current ratio: 1.52** (quick 0.94). Current assets cover the next year's liabilities 1.52 times.
- **Altman Z-score: 2.35**. A Z-score of 2.35 is in the grey zone; not distressed, not clearly safe.
- **Piotroski F-score: 6/9**. 6 of 9 checks pass: mixed.

## Dividends
- **Dividend: none**. Reformation Inc. does not currently pay a dividend.

## Analyst view
- **Analyst consensus: strong_buy** (8 analysts). 8 analysts cover Reformation Inc.; the consensus is strong_buy, with an average price target of $19.25 (+41% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **From 52-week high: -20.7%** (6.7% above the low). Trading 21% below its 52-week high.
- **RSI (14-day): 43**. An RSI of 43 is neutral.

Live score and charts: https://foliofundamentals.com/analyzer?s=REF · Page: https://foliofundamentals.com/stocks/ref

Not investment advice.