OakChart

Reformation Inc

REFConsumer Cyclical·Apparel Retail·USA·Small·NYSE·Nov 11 • 9:08 AM ET

19.340.00 (0.00%)
2026-11-11 15:15 CET
Market cap
1,142.59 USD m
Revenue, TTM
173.56 USD m
Net income, TTM
-1.14 USD m
Free cash flow, TTM
37.95 USD m
EPS diluted, TTM
-0.02
P/E
-
Compare

Price

REF against its 20 and 50-day averages
2050beatmiss
12.0014.0016.0018.0020.003.2M6.4MJul 26Sep 26Oct 26Nov 26REFclose 19.3420-day 16.3250-day 14.6519.34

5.9% under 20.55 on 9 Nov 2026. Last 15 sessions, 47.9% high to low

Profile

REF
52-week range, 86% of the way up
11.8520.55

Reformation, Inc. operates as a clothing brand company. It is engaged in sustainable womenswear. Its products include dresses, jeans, tops, sweaters, shoes, and accessories. The company was founded in 2009 and is headquartered in New York, NY.

IndexRUT
Employees1365
IPOJul 30, 2026
ATR, 14d1.11
Rel volume0.00
Short float21.40%
Insider own72.16%
Inst own2.99%

Snapshot

6 groups

Valuation

IndexRUT
Market Cap1.14B
Enterprise Value1.38B
Income-
Sales-
Book/sh8.50
Cash/sh1.65
Dividend Est.-
Dividend TTM-
Dividend Ex-Date-
Dividend Gr. 3/5Y- -
Payout-
Employees1365
IPOJul 30, 2026

Ratios

P/E-
Forward P/E-
PEG-
P/S-
P/B2.27
P/C11.69
P/FCF-
EV/EBITDA-
EV/Sales-
Quick Ratio1.11
Current Ratio1.76
Debt/Eq0.67
LT Debt/Eq0.63
Option/ShortYes / Yes

Earnings

EPS (ttm)-
EPS next Y-
EPS next Q0.12
EPS this Y-
EPS next Y-
EPS next 5Y-
EPS past 3/5Y-19.99% -
Sales past 3/5Y18.76% -
EPS Y/Y TTM-
Sales Y/Y TTM-
EPS Q/Q-116.41%
Sales Q/Q38.77%
EarningsNov 05 AMC
EPS/Sales Surpr.-182.64% 2.23%

Ownership

Insider Own72.16%
Insider Trans-9.36%
Inst Own2.99%
Inst Trans70.24%
ROA-
ROE-
ROIC-
Gross Margin-
Oper. Margin-
Profit Margin-
SMA2018.49%
SMA5031.98%
SMA20030.47%
Trades-

Technical

Shs Outstand59.08M
Shs Float16.45M
Short Float21.40%
Short Ratio7.16
Short Interest3.52M
52W High20.55 -5.89%
52W Low11.85 63.21%
Volatility10.46% 7.44%
ATR (14)1.11
RSI (14)66.59
Beta-
Rel Volume0.00
Avg Volume491.42K
Volume11

Performance

Perf Week5.05%
Perf Month40.45%
Perf Quarter28.93%
Perf Half Y-
Perf YTD28.93%
Perf Year-
Perf 3Y-
Perf 5Y-
Perf 10Y-
Recom1.33
Target Price19.88
Prev Close19.34
Price19.34
Change %0.00%

Analyst ratings

latest 9 of 9
DateActionAnalystRating changeTargetImplied
Aug 24, 2026InitiatedWWilliam BlairOutperform
Aug 24, 2026InitiatedTTelsey Advisory GroupOutperform$20+3.4%
Aug 24, 2026InitiatedRRobert W. BairdOutperform$19-1.8%
Aug 24, 2026InitiatedRRBC Capital MktsOutperform$18-6.9%
Aug 24, 2026InitiatedMMorgan StanleyEqual-Weight$16-17.3%
Aug 24, 2026InitiatedJJP MorganOverweight$21+8.6%
Aug 24, 2026InitiatedGGuggenheimBuy$20+3.4%
Aug 24, 2026InitiatedCCitigroupBuy$20+3.4%
Aug 24, 2026InitiatedBBTIG ResearchBuy$20+3.4%

Peers

Mkt cap
TickerCompanyMkt cap
URBNUrban Outfitters Inc7.45B
AKAa.k.a. Brands Holding Corp99.66M
ANFAbercrombie & Fitch Co6.52B
LVLULulus Fashion Lounge Holdings Inc33.17M
RVLVRevolve Group Inc1.42B
JILLJ.Jill Inc335.46M
AEOAmerican Eagle Outfitters Inc3.60B
LULULululemon Athletica Inc12.63B
RENTRent the Runway Inc72.27M
VNCEVince Holding Corp167.51M

Insider trading

4 filings
InsiderRelationshipDateTransactionCostSharesValueTotal heldForm
Aflalo YaelDirectorSep 01 '26Sale13.9560,298841,15711,665,505Sep 03 05:58 PM
Refo SCSp10% OwnerSep 01 '26Sale13.95149,5962,086,86428,942,153Sep 03 05:25 PM
Refo SCSp10% OwnerJul 31 '26Sale13.952,987,19941,671,42629,091,749Jul 31 09:52 PM
Aflalo YaelDirectorJul 29 '26Sale13.951,204,02916,796,20511,725,803Jul 31 04:05 PM

Held by

AUM
TickerCompanyAUM
IWMiShares Russell 2000 Index FundAUM: 77.38B
VTIVanguard Morningstar Total Stock Market ETFAUM: 687.42B
VXFVanguard Extended Market Index ETFAUM: 30.47B
IWNiShares Russell 2000 Value ETFAUM: 14.10B
SCHASchwab U.S. Small-Cap ETFAUM: 22.25B
VTWOVanguard Russell 2000 Index ETFAUM: 16.75B
IWOiShares Russell 2000 Growth ETFAUM: 14.06B
IWCiShares Micro-Cap ETFAUM: 1.22B
MSSMMorgan Stanley Pathway Small-Mid Cap Equity ETFAUM: 709.29M
SCHBSchwab U.S. Broad Market ETFAUM: 44.09B

Quarterly earnings

actual against estimate
PeriodReportedEPS actEPS estEPS repSales actSales estAnalysts
2026Q32026-11-05-0.0200.024-0.020173.57169.787
2026Q22026-09-100.2300.2150.210155.23154.478
2026Q12026-06-03-0.151--34.820112.23--
2026Q4--0.121--170.347
2027Q1---0.057--128.086
2027Q2--0.220--173.226
2027Q3--0.230--198.656
2027Q4--0.227--205.696
2028Q1---0.020--83.671
2028Q2--0.360--109.861
2028Q3--0.390--125.051
2028Q4--0.350--125.41

Annual earnings

PeriodEPS actEPS estEPS repSales actSales est
No annual earnings.

Estimate revisions

last 14 periods
PeriodTypeDateEstimatesUpDownMeanLowHigh
2026Q4S2026-11-06860170.34169.06171.1
2026Q4S2026-11-05801168.19165.85170.09
2026Q4S2026-10-06801168.19165.85170.09
2026Q4S2026-10-01801168.24165.85170.09
2026Q4S2026-09-24801168.24165.8170.09
2026Q4S2026-09-11801168.24165.8170.09
2026Q4S2026-08-24800168.5168169.6
2026Q4S2026-08-21700168.47168169.6
2026Q4S2026-08-20100168.2168.2168.2
2026Q4R2026-11-062110.130.110.14
2026Q4R2026-11-052020.130.120.13
2026Q4R2026-09-112020.130.120.13
2026Q4R2026-08-212000.140.130.14
2026Q4E2026-11-067250.120.090.14

Estimate history

EPS, annual54.93985.94835.166
Period202320242025
EPS, quarterly-15.910.1170.084-34.820.21-0.019
PeriodQ1 '25Q2 '25Q3 '25Q1 '26Q2 '26Q3 '26
Sales, annual359.523438.157507.104
Period202320242025
Sales, quarterly86.091125.073145.715112.3155.233173.565
PeriodQ1 '25Q2 '25Q3 '25Q1 '26Q2 '26Q3 '26
Shares, annual0.4930.3490.34959.079
Period202320242025MRQ
Shares, quarterly0.34959.07959.0790.34959.07959.079
PeriodQ1 '25Q2 '25Q3 '25Q1 '26Q2 '26Q3 '26

Income statement, annual

Currency USD, millions
MetricTTM2025FY2024FY2023FY
Total Revenue173.56507.10438.16359.52
Cost of Goods Sold Incl. D&A73.16202.46156.39130.75
Gross Profit100.41304.65281.77228.77
Selling, General and Administrative Excl. Other92.80275.83229.11191.19
Other Operating Expense0.000.000.000.00
Operating Income7.6128.8252.6637.58
Interest Expense4.9714.5710.710.00
Unusual Expense2.400.000.000.00
Net Income Before Taxes1.7216.8645.6838.75
Income Taxes2.864.2212.7514.87
Consolidated Net Income-1.1412.6432.9323.89
Net Income From Continuing Operations-1.1412.6432.9323.89
Net Income-1.1412.6432.9323.89
EPS (Recurring)0.0135.1785.9554.94
EPS (Basic, Before Extraordinaries)-0.0236.2387.2755.15
EPS (Diluted)-0.0235.1785.9554.94
EBITDA17.6541.9962.7646.06
Non-Operating Income (Expense)1.492.613.731.18
Other After Tax Adjustments0.000.000.000.00
Stock Option Compensation Expense8.690.870.921.51
Gross Margin-60.0864.3163.63
Operating Margin-5.6812.0210.45
Net Margin-2.497.526.64
Shares Outstanding59.080.350.350.49
Market Capitalization1,142.591,142.59--

Income statement, quarterly

Currency USD, millions
Metric2026Q32026Q22026Q12025Q32025Q22025Q1
Total Revenue173.56155.23112.30145.72125.0786.09
Cost of Goods Sold Incl. D&A73.1656.0133.5164.7147.5234.42
Gross Profit100.4199.2378.7981.0077.5551.67
Selling, General and Administrative Excl. Other92.8079.8591.1870.6364.4255.19
Other Operating Expense0.000.000.000.000.000.00
Operating Income7.6119.37-12.3910.3713.13-3.52
Interest Expense4.973.543.274.004.044.15
Unusual Expense2.400.350.450.210.540.39
Net Income Before Taxes1.7217.11-16.057.059.28-7.48
Income Taxes2.864.70-3.902.082.36-1.93
Consolidated Net Income-1.1412.41-12.154.976.92-5.55
Net Income From Continuing Operations-1.1412.41-12.154.976.92-5.55
Net Income-1.1412.41-12.154.976.92-5.55
EPS (Recurring)0.010.21-33.920.090.12-15.13
EPS (Basic, Before Extraordinaries)-0.020.21-34.820.080.12-15.91
EPS (Diluted)-0.020.21-34.820.080.12-15.91
EBITDA17.6528.99-8.2318.6320.70-0.66
Non-Operating Income (Expense)1.491.620.060.880.720.58
Other After Tax Adjustments0.000.000.000.000.000.00
Stock Option Compensation Expense8.690.2419.020.230.200.24
Gross Margin57.8563.9270.1655.5962.0060.02
Operating Margin4.3812.48-11.047.1210.50-4.09
Net Margin-0.657.99-10.823.415.53-6.45
Shares Outstanding59.0859.080.3559.0859.080.35
Market Capitalization1,142.59724.90----

Balance sheet, annual

Currency USD, millions
Metric2025FY2024FY2023FY
Cash & Short Term Investments65.4787.68-
Short Term Receivables18.4112.29-
Inventories60.6451.92-
Other Current Assets16.3912.43-
Total Current Assets160.91164.31-
Net Property, Plant & Equipment251.04184.57-
Total Investments and Advances0.000.00-
Intangible Assets519.92520.75-
Other Assets6.004.13-
Total Assets937.87873.77-
Short Term Debt Incl. Current Port. of LT Debt24.9216.91-
Accounts Payable7.664.94-
Other Current Liabilities73.5759.87-
Total Current Liabilities106.1481.71-
Long Term Debt314.56290.84-
Provision for Risks Charges0.000.00-
Deferred Tax Liabilities72.5770.15-
Other Liabilities3.794.46-
Total Liabilities497.07447.16-
Non-Equity Reserves0.000.00-
Preferred Stock - Carrying Value0.000.00-
Common Equity440.80426.61-
Total Shareholders Equity440.80426.61-
Accumulated Minority Interest0.000.00-
Total Equity440.80426.61-
Total Liabilities & Stockholders Equity937.87873.77-
Book Value Per Share1,263.481,222.80-
Tangible Book Value Per Share-226.79-269.86-
Full-Time Employees1,365--
Price to Book Ratio2.27--
Return on Assets1.40--
Return on Equity2.91--
Return on Invested Capital1.674.59-
Quick Ratio0.941.38-
Current Ratio1.522.01-

Cash flow, annual

Currency USD, millions
MetricTTM2025FY2024FY2023FY
Net Income-1.1412.6432.9323.89
Depreciation10.0413.1710.108.48
Other Funds (Non Cash)13.4821.3116.6212.86
Funds from Operations24.2647.7454.7744.93
Extraordinary Item0.000.000.000.00
Changes in Working Capital20.42-21.07-10.51-7.12
Cash from Operating Activities44.6826.6744.2737.81
Capital Expenditures-6.72-44.54-26.15-13.69
Net Assets From Acquisitions0.000.000.000.00
Sale of Fixed Assets and Businesses0.000.000.000.00
Purchase or Sale of Investments0.000.000.000.00
Purchase of Investments0.000.000.000.00
Sale Or Maturity of Investments0.000.000.000.00
Other Uses0.000.000.000.00
Other Sources0.000.000.000.00
Cash from Investing Activities-6.72-44.54-26.15-13.69
Cash Dividends Paid-29.140.000.000.00
Preferred Dividends (Cash Flow)0.000.000.000.00
Change in Capital Stock128.230.00-165.110.03
Repurchase of Common Pref Stock0.000.00-165.480.00
Sale of Common Pref Stock128.230.000.370.03
Proceedsfrom Stock Options128.210.000.000.00
Issuance or Reduction of Debt, Net-110.00-5.16158.710.00
Change in Long Term Debt-110.00-5.16158.710.00
Issuance of Long Term Debt0.000.00159.740.00
Reduction of Long Term Debt-110.00-5.16-1.030.00
Net Financing Active Other Cash Flow-5.820.000.000.00
Other Financing Activities Uses-5.820.000.000.00
Cash from Financing Activities-16.74-5.16-6.400.03
Exchange Rate Effect-0.090.82-0.540.16
Net Change in Cash21.12-22.2011.1824.30
Free Cash Flow37.95-17.8718.1224.12
Deferred Taxes & Investment Tax Credit-0.62-4.88-0.29

Balance sheet, quarterly

Currency USD, millions
Metric2026Q32026Q22026Q12025Q32025Q22025Q1
Cash & Short Term Investments97.7576.6341.22---
Short Term Receivables21.1729.5031.84---
Inventories83.8481.7770.81---
Other Current Assets24.3622.8617.43---
Total Current Assets227.12210.76161.30---
Net Property, Plant & Equipment277.10266.17256.49---
Total Investments and Advances0.000.000.00---
Intangible Assets519.29519.50519.71---
Other Assets4.798.737.20---
Total Assets1,028.311,005.16944.69---
Short Term Debt Incl. Current Port. of LT Debt22.2818.4425.03---
Accounts Payable17.006.303.02---
Other Current Liabilities89.79108.9474.38---
Total Current Liabilities129.07133.69102.44---
Long Term Debt315.08416.87316.92---
Provision for Risks Charges0.000.000.00---
Deferred Tax Liabilities70.4468.5764.07---
Other Liabilities11.369.308.68---
Total Liabilities525.95628.43492.11---
Non-Equity Reserves0.000.000.00---
Preferred Stock - Carrying Value0.000.000.00---
Common Equity502.35376.73452.58---
Total Shareholders Equity502.35376.73452.58---
Accumulated Minority Interest0.000.000.00---
Total Equity502.35376.73452.58---
Total Liabilities & Stockholders Equity1,028.311,005.16944.69---
Book Value Per Share8.506.381,297.11---
Tangible Book Value Per Share-0.29-2.42-192.39---
Full-Time Employees-1,3531,261---
Price to Book Ratio2.271.92----
Return on Invested Capital-0.141.56-1.58---
Quick Ratio1.110.960.88---
Current Ratio1.761.581.57---

Cash flow, quarterly

Currency USD, millions
Metric2026Q32026Q22026Q12025Q32025Q22025Q1
Net Income-1.1412.41-12.154.976.92-5.55
Depreciation10.0414.794.168.2611.842.86
Other Funds (Non Cash)13.48-4.5829.510.61-3.684.86
Funds from Operations24.2627.1117.5315.1316.380.39
Extraordinary Item0.000.000.000.000.000.00
Changes in Working Capital20.42-9.89-34.739.51-7.06-23.92
Cash from Operating Activities44.6817.22-17.2024.649.32-23.53
Capital Expenditures-6.72-8.39-4.82-14.05-13.91-7.15
Net Assets From Acquisitions0.000.000.000.000.000.00
Sale of Fixed Assets and Businesses0.000.000.000.000.000.00
Purchase or Sale of Investments0.000.000.000.000.000.00
Purchase of Investments0.000.000.000.000.000.00
Sale Or Maturity of Investments0.000.000.000.000.000.00
Other Uses0.000.000.000.000.000.00
Other Sources0.000.000.000.000.000.00
Cash from Investing Activities-6.72-8.39-4.82-14.05-13.91-7.15
Cash Dividends Paid-29.14-59.070.000.000.000.00
Preferred Dividends (Cash Flow)0.000.000.000.000.000.00
Change in Capital Stock128.23-1.030.040.000.000.00
Repurchase of Common Pref Stock0.000.000.000.000.000.00
Sale of Common Pref Stock128.23-1.030.040.000.000.00
Proceedsfrom Stock Options128.21-1.040.000.000.000.00
Issuance or Reduction of Debt, Net-110.0086.94-2.06-1.05-1.05-0.97
Change in Long Term Debt-110.0086.94-2.06-1.05-1.05-0.97
Issuance of Long Term Debt0.0089.000.000.000.000.00
Reduction of Long Term Debt-110.00-2.06-2.06-1.05-1.05-0.97
Net Financing Active Other Cash Flow-5.820.000.000.000.000.00
Other Financing Activities Uses-5.820.000.000.000.000.00
Cash from Financing Activities-16.7426.84-2.02-1.05-1.05-0.97
Exchange Rate Effect-0.09-0.26-0.22-0.100.620.16
Net Change in Cash21.1235.41-24.269.44-5.03-31.49
Free Cash Flow37.958.83-22.0210.59-4.59-30.68

Revenue breakdown

Revenue split-

Short interest

shares short against float, oldest to newest
SettlementOf floatShares shortFloatAvg volume
2026-10-3021.40%3.5M16.5M500.47K
2026-10-1517.77%2.9M16.5M621.55K
2026-09-3015.32%2.6M16.7M678.46K
2026-09-1512.31%2.0M16.7M617.36K
2026-08-3113.21%2.2M16.7M738.71K
2026-08-145.35%0.9M16.4M1.03M
2026-07-314.27%0.4M8.3M3.74M

Option chain

expiry 2026-11-20
TypeStrikeBidAskLastIVOpen intVolumeDeltaThetaVega
call2.500.000.000.00-0.000.00---
call5.000.000.000.00-0.000.00---
call7.500.000.000.00-0.000.00---
call10.000.000.000.00-0.000.00---
call12.500.000.001.87-1.000.00---
call15.000.000.003.00-1690.00---
call17.500.000.002.47-1,1540.00---
call20.000.000.000.56-8210.00---
call22.500.000.000.00-0.000.00---
call25.000.000.000.00-0.000.00---
put2.500.000.000.00-0.000.00---
put5.000.000.000.00-0.000.00---
put7.500.000.000.00-0.000.00---
put10.000.000.000.13-4.000.00---
put12.500.000.000.25-50.000.00---
put15.000.000.000.75-3.000.00---
put17.500.000.000.15-20.000.00---
put20.000.000.001.10-1.000.00---
put22.500.000.000.00-0.000.00---
put25.000.000.000.00-0.000.00---

Latest SEC filings

30
FiledFormDescriptionPeriodLink
2026-11-0610-QQuarterly report pursuant to Section 13 or 15(d)2026-09-26SEC
2026-11-058-KCurrent report2026-11-05SEC
2026-10-094/A2026-07-29SEC
2026-10-094/A2026-07-29SEC
2026-10-094/A2026-07-29SEC
2026-09-1110-QQuarterly report pursuant to Section 13 or 15(d)2026-06-27SEC
2026-09-108-KCurrent report2026-09-10SEC
2026-09-034Statement of changes in beneficial ownership of securities2026-09-01SEC
2026-09-034Statement of changes in beneficial ownership of securities2026-09-01SEC
2026-08-038-KCurrent report2026-07-31SEC
2026-07-314Statement of changes in beneficial ownership of securities2026-07-29SEC
2026-07-314Statement of changes in beneficial ownership of securities2026-07-29SEC
2026-07-314Statement of changes in beneficial ownership of securities2026-07-29SEC
2026-07-314Statement of changes in beneficial ownership of securities2026-07-29SEC
2026-07-314Statement of changes in beneficial ownership of securities2026-07-29SEC
2026-07-314Statement of changes in beneficial ownership of securities2026-07-31SEC
2026-07-314Statement of changes in beneficial ownership of securities2026-07-29SEC
2026-07-314Statement of changes in beneficial ownership of securities2026-07-29SEC
2026-07-314Statement of changes in beneficial ownership of securities2026-07-29SEC
2026-07-314Statement of changes in beneficial ownership of securities2026-07-29SEC
2026-07-303Initial statement of beneficial ownership of securities2026-07-29SEC
2026-07-30424B4SEC
2026-07-29EFFECTEffectiveness filing by commission orderSEC
2026-07-293Initial statement of beneficial ownership of securities2026-07-29SEC
2026-07-293Initial statement of beneficial ownership of securities2026-07-29SEC
2026-07-293Initial statement of beneficial ownership of securities2026-07-29SEC
2026-07-293Initial statement of beneficial ownership of securities2026-07-29SEC
2026-07-293Initial statement of beneficial ownership of securities2026-07-29SEC
2026-07-293Initial statement of beneficial ownership of securities2026-07-29SEC
2026-07-293Initial statement of beneficial ownership of securities2026-07-29SEC

Insider activity by month

MonthBoughtBuysSoldSells
2026-110000
2026-100000
2026-09002.93M2
2026-080000
2026-070058.47M2
2026-060000
2026-050000
2026-040000
2026-030000
2026-020000
2026-010000
2025-120000
2025-110000

Institutional holders

Manager% owned
FMR LLC1.45%
EMERALD ADVISERS, LLC1.14%
EMERALD MUTUAL FUND ADVISERS TRUST0.87%
GEODE CAPITAL MANAGEMENT, LLC0.56%
UBS Group AG0.24%
VICTORY CAPITAL MANAGEMENT INC0.20%
Skylands Capital, LLC0.15%
LOS ANGELES CAPITAL MANAGEMENT LLC0.06%
Nuveen, LLC0.06%
Bank of New York Mellon Corp0.05%

Funds

Fund% owned
Federated Hermes Kaufmann Small Cap Fund171.97%
Harbor Small Cap Growth Fund150.28%
Franklin Small Cap Growth Fund127.36%
SmallCap Growth Fund I115.94%
Fidelity Blue Chip Growth Fund49.13%
Neuberger Long Short Fund27.92%
Fidelity Blue Chip Growth K6 Fund10.26%
Fidelity Series Blue Chip Growth Fund8.17%
Federated Hermes Muni and Stock Advantage Fund1.20%
MFS New Discovery Fund1.07%

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