Stitch Fix Inc Stock Research

Market Summary

USD5.11+0.32

Market Closed

6.68%

SFIX Alerts

Big fall in Revenue (Y/Y)
Big fall in earnings (Y/Y)
Losses in recent quarter

SFIX Stock Price

SFIX RSI Chart

SFIX Valuation

Market Cap

574.2M

Price/Earnings (Trailing)

-1.94

Price/Sales (Trailing)

0.31

EV/EBITDA

-1.7

Price/Free Cashflow

-6.69

SFIX Price/Sales (Trailing)

SFIX Profitability

EBT Margin

-16.19%

Return on Equity

-115.9%

Return on Assets

-44.79%

Free Cashflow Yield

-14.95%

SFIX Fundamentals

SFIX Revenue

Revenue (TTM)

1.8B

Revenue Y/Y

-20.24%

Revenue Q/Q

-9.54%

SFIX Earnings

Earnings (TTM)

-295.9M

Earnings Y/Y

-112.12%

Earnings Q/Q

-17.26%

Price Action

52 Week Range

2.6311.25

(Low)(High)

Last 7 days

-4.8%

Last 30 days

12.6%

Last 90 days

64.3%

Trailing 12 Months

-49.3%

SFIX Financial Health

Current Ratio

1.59

SFIX Investor Care

Shares Dilution (1Y)

3.68%

Diluted EPS (TTM)

-2.68

Peers (Alternatives to Stitch Fix)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
AMZN	1.1T	514.0B	12.06%	-36.63%	-388.65	2.06	9.40%	-108.16%
EBAY	23.9B	9.8B	-3.02%	-22.16%	-18.85	2.44	-6.00%	-109.33%
CHWY	15.8B	9.8B	-5.46%	-8.34%	-771.83	1.62	14.45%	-288.94%
ETSY	13.9B	2.6B	-5.88%	-10.42%	-20.05	5.43	11.73%	-479.56%
MID-CAP
W	3.6B	12.2B	-12.69%	-69.00%	-2.73	0.3	-10.87%	-916.03%
SMALL-CAP
RVLV	1.9B	1.1B	-1.94%	-51.02%	32.86	1.75	23.56%	-41.21%
OSTK	911.2M	1.9B	8.05%	-53.94%	-25.86	0.47	-30.01%	-109.05%
SFIX	574.2M	1.8B	12.56%	-49.26%	-1.94	0.31	-16.43%	-882.41%
PETS	342.3M	260.5M	-13.02%	-34.20%	30.02	1.31	-6.68%	-47.81%
LE	320.8M	1.6B	24.62%	-42.55%	-151.16	0.2	-2.37%	-104.59%
REAL	124.9M	603.5M	-15.44%	-82.64%	-0.64	0.21	29.04%	16.80%
APRN	23.6M	458.7M	-23.88%	-83.27%	-0.21	0.05	-4.21%	-54.13%
IMBI	14.7M	453.2M	-33.82%	-91.55%	-0.33	0.03	-5.99%	-122.89%

Financials for Stitch Fix

Income Statement (Last 12 Months)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Revenue	-5.4%	1,842,555,000	1,947,161,000	2,072,812,000	2,162,068,000	2,204,716,000
Gross Profit	-7.7%	763,631,000	827,318,000	908,474,000	981,263,000	1,017,563,000
S&GA Expenses	-2.5%	1,060,968,000	1,088,643,000	1,116,519,000	1,069,949,000	1,053,588,000
EBITDA	-14.2%	-256,360,000	-224,479,000	-172,285,000	-56,317,000	-4,153,000
EBITDA Margin	-20.7%	-0.14	-0.12	-0.08	-0.03	0.00
Earnings Before Taxes	-13.2%	-298,266,000	-263,486,000	-209,470,000	-89,169,000	-34,921,000
EBT Margin	-19.6%	-0.16	-0.14	-0.10	-0.04	-0.02
Net Income	-13.3%	-295,871,000	-261,212,000	-207,121,000	-89,311,000	-30,117,000
Net Income Margin	-19.7%	-0.16	-0.13	-0.10	-0.04	-0.01
Free Cahsflow	35.2%	-85,814,000	-132,411,000	9,044,000	63,595,000	51,329,000

* denotes actual numbers (not divided by Millions)
Balance Sheet					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Assets	-11.3%	661	745	765	864	898
Current Assets	-11.2%	414	467	477	534	531
Cash Equivalents	22.6%	139	113	131	138	194
Inventory	-27.8%	159	220	197	213	183
Net PPE	-7.4%	92.00	100	103	105	105
Liabilities	-9.9%	405	450	442	474	437
Current Liabilities	-12.2%	261	297	296	317	277
Shareholder's Equity	-13.4%	255	295	323	390	461
Retained Earnings	-29.5%	-287	-222	-166	-70.10	8.00
Additional Paid-In Capital	4.1%	575	552	523	492	463
Shares Outstanding	3.3%	112	109	109	-	-

* denotes actual numbers (not divided by Millions)
Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Cashflow From Operations	39.3%	-58.48	-96.31	55.00	114	104
Share Based Compensation	-5.1%	121	128	128	124	121
Cashflow From Investing	164.8%	41.00	16.00	10.00	-22.09	18.00
Cashflow From Financing	30.2%	-35.18	-50.42	-60.25	-76.04	-67.31
Buy Backs	-25.1%	30.00	40.00	0.00	-	-

Risks for SFIX

What is the probability of a big loss on SFIX?

100%

Probability that Stitch Fix stock will be more than 20% underwater in next one year

90.8%

Probability that Stitch Fix stock will be more than 30% underwater in next one year.

90.8%

Probability that Stitch Fix stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does SFIX drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Stitch Fix was unfortunately bought at previous high price.

Drawdowns

Returns for SFIX

Cumulative Returns on SFIX

-24.1%

5-Year Cumulative Returns

-26.2%

3-Year Cumulative Returns

What are the long-term rolling returns for SFIX?

FIve years rolling returns for Stitch Fix.

Annualized Returns

Which funds bought or sold SFIX recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-03-23	MetLife Investment Management, LLC	reduced	-23.18	-68,773	105,264	-%
2023-03-17	American Portfolios Advisors	unchanged	-	-12,264	48,933	-%
2023-03-15	B. Riley Wealth Advisors, Inc.	new	-	31,878	31,878	-%
2023-03-10	BAILLIE GIFFORD & CO	unchanged	-	-29,976	109,024	-%
2023-03-06	Rockefeller Capital Management L.P.	added	52.63	-	-	-%
2023-02-28	Voya Investment Management LLC	reduced	-11.00	-40,350	94,650	-%
2023-02-27	Parallax Volatility Advisers, L.P.	new	-	51,054	51,054	-%
2023-02-22	CVA Family Office, LLC	unchanged	-	-1,179	2,821	-%
2023-02-21	NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO	unchanged	-	31.00	31.00	-%
2023-02-21	MACQUARIE GROUP LTD	sold off	-100	-11,000	-	-%

Latest Funds Activity

Are funds buying SFIX calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own SFIX

No. of Funds

Stitch Fix News

Schedule 13G FIlings of Stitch Fix

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 14, 2023	slate path capital lp	0%	0	SC 13G/A
Feb 14, 2023	benchmark capital partners vi lp	0.8%	704,486	SC 13G/A
Feb 14, 2023	disciplined growth investors inc /mn	5.44%	4,644,787	SC 13G/A
Feb 14, 2023	d. e. shaw & co, l.p.	3.3%	2,792,858	SC 13G/A
Feb 13, 2023	lake katrina	10.6%	10,297,422	SC 13G/A
Feb 13, 2023	working capital advisors (uk) ltd.	6.1%	5,204,651	SC 13G/A
Feb 09, 2023	vanguard group inc	7.39%	6,314,399	SC 13G/A
Jan 24, 2023	blackrock inc.	9.6%	8,166,995	SC 13G/A
May 09, 2022	d. e. shaw & co, l.p.	5.0%	4,157,135	SC 13G
Feb 15, 2022	disciplined growth investors inc /mn	3.5%	2,918,019	SC 13G/A

SFIX Fair Value

Stitch Fix fair value in different scenarios

The table shows the Fair Value estimates for Stitch Fix for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.

Fair Value	Very Pessimistic	Pessimistic	Base Case	Optimistic	Very Optimistic
Very Low Inflation	3.94 -22.90%	4.98 -2.54%	6.60 29.16%	9.47 85.32%	13.23 158.90%
Current Inflation	3.70 -27.59%	4.62 -9.59%	6.01 17.61%	8.46 65.56%	11.73 129.55%
Very High Inflation	3.41 -33.27%	4.18 -18.20%	5.30 3.72%	7.27 42.27%	9.97 95.11%

Historical Stitch Fix Fair Value Estimates

Very Pessimistic Case

Pessimistic Case

Fair Value

Optimistic Case

Very Optimistic Case

Closing Stock Price

Recent SEC filings of Stitch Fix

View All Filings

Date Filed	Form Type	Document
Mar 30, 2023	4	Insider Trading
Mar 28, 2023	4	Insider Trading
Mar 24, 2023	144	Notice of Insider Sale Intent
Mar 24, 2023	8-K	Current Report
Mar 16, 2023	4	Insider Trading
Mar 16, 2023	4	Insider Trading
Mar 16, 2023	4	Insider Trading
Mar 16, 2023	4	Insider Trading
Mar 13, 2023	8-K	Current Report
Mar 08, 2023	10-Q	Quarterly Report

Latest Insider Trading transactions for SFIX

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-03-24	O'Connor Casey	sold	-61,674	5.1395	-12,000	chief legal officer
2023-03-17	DHAWAN SACHIN	acquired	-	-	275,000	chief technology officer
2023-03-15	Barkema Sarah	sold (taxes)	-16,041	5.21	-3,079	chief accounting officer
2023-03-15	O'Connor Casey	sold (taxes)	-22,845	5.21	-4,385	chief legal officer
2023-03-15	Jedda Dan	sold (taxes)	-89,586	5.21	-17,195	chief financial officer
2023-03-15	DHAWAN SACHIN	sold (taxes)	-48,296	5.21	-9,270	chief technology officer
2022-12-19	Amoo-Gottfried Kofi Owusu	acquired	-	-	28,299	-
2022-12-15	O'Connor Casey	acquired	-	-	250,000	chief legal officer
2022-12-14	DHAWAN SACHIN	sold (taxes)	-77,397	4.08	-18,970	chief technology officer
2022-12-14	Spaulding Elizabeth	sold (taxes)	-146,884	4.08	-36,001	chief executive officer

About Stitch Fix

Elizabeth Spaulding

www.stitchfix.com

11300

Stitch Fix, Inc. sells a range of apparel, shoes, and accessories through its Website and mobile application in the United States. It offers denim, dresses, blouses, skirts, shoes, jewelry, and handbags for men, women, and kids under the Stitch Fix brand. The company was formerly known as rack habit inc. and changed its name to Stitch Fix, Inc. in October 2011. Stitch Fix, Inc. was incorporated in 2011 and is headquartered in San Francisco, California.

SFIX Income Statement

2023-01-28

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Jan. 28, 2023	Jan. 29, 2022
Income Statement [Abstract]
Revenue, net	$ 412,118	$ 516,724	$ 867,711	$ 1,097,968
Cost of goods sold	243,001	283,920	506,833	592,247
Gross profit	169,117	232,804	360,878	505,721
Selling, general, and administrative expenses	235,827	263,502	482,718	538,269
Operating loss	(66,710)	(30,698)	(121,840)	(32,548)
Interest income	706	171	1,479	505
Other income (expense), net	652	(45)	(632)	(154)
Loss before income taxes	(65,352)	(30,572)	(120,993)	(32,197)
Provision for income taxes	219	340	496	542
Net loss	(65,571)	(30,912)	(121,489)	(32,739)
Other comprehensive income (loss):
Change in unrealized gain (loss) on available-for-sale securities, net of tax	941	(654)	755	(969)
Foreign currency translation	2,501	(848)	889	(1,451)
Total other comprehensive income (loss), net of tax	3,442	(1,502)	1,644	(2,420)
Comprehensive loss	(62,129)	(32,414)	(119,845)	(35,159)
Net loss attributable to common stockholders:
Basic	(65,571)	(30,912)	(121,489)	(32,739)
Diluted	$ (65,571)	$ (30,912)	$ (121,489)	$ (32,739)
Loss per share attributable to common stockholders:
Basic (in dollars per share)	$ (0.58)	$ (0.28)	$ (1.07)	$ (0.30)
Diluted (in dollars per share)	$ (0.58)	$ (0.28)	$ (1.07)	$ (0.30)
Weighted-average shares used to compute loss per share attributable to common stockholders:
Basic (in shares)	113,928,081	109,178,086	113,143,991	108,776,998
Diluted (in shares)	113,928,081	109,178,086	113,143,991	108,776,998

SFIX Balance Sheet

2023-01-28

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jan. 28, 2023	Jul. 30, 2022
Current assets:
Cash and cash equivalents	$ 138,979	$ 130,935
Short-term investments	82,620	82,049
Inventory, net	158,927	197,251
Prepaid expenses and other current assets	32,979	39,456
Income tax receivable	921	27,561
Total current assets	414,426	477,252
Long-term investments	2,288	17,713
Income tax receivable, net of current portion	26,091	26,091
Property and equipment, net	92,434	103,375
Operating lease right-of-use assets	119,831	132,179
Other long-term assets	5,528	7,925
Total assets	660,598	764,535
Current liabilities:
Accounts payable	104,715	143,934
Operating lease liabilities	32,413	29,014
Accrued liabilities	91,859	94,416
Gift card liability	12,489	10,551
Deferred revenue	13,428	14,441
Other current liabilities	6,045	3,214
Total current liabilities	260,949	295,570
Operating lease liabilities, net of current portion	139,644	141,334
Other long-term liabilities	4,728	4,980
Total liabilities	405,321	441,884
Commitments and contingencies
Stockholders’ equity:
Additional paid-in capital	575,129	522,658
Accumulated other comprehensive loss	(1,883)	(3,527)
Accumulated deficit	(287,929)	(166,440)
Treasury stock at cost (2,302,141 and 2,302,141 shares)	(30,042)	(30,042)
Total stockholders’ equity	255,277	322,651
Total liabilities and stockholders’ equity	660,598	764,535
Class A Common Stock
Stockholders’ equity:
Common stock, value	1	1
Class B Common Stock
Stockholders’ equity:
Common stock, value	$ 1	$ 1