(REAL) TheRealReal - Ratings and Ratios

Exchange: NASDAQ • Country: United States • Currency: USD • Type: Common Stock • ISIN: US88339P1012

Luxury Fashion, Jewelry, Watches

Apparel Retail
Market Cap in USD: 1,905m
IPO / Inception: 2019-06-28
12m vs SPY: 61.3%

EPS (Earnings per Share)

EPS (Earnings per Share) of REAL over the last years for every Quarter: "2020-12": -0.49, "2021-03": -0.49, "2021-06": -0.5, "2021-09": -0.47, "2021-12": -0.42, "2022-03": -0.47, "2022-06": -0.4, "2022-09": -0.38, "2022-12": -0.29, "2023-03": -0.36, "2023-06": -0.3, "2023-09": -0.15, "2023-12": -0.07, "2024-03": -0.12, "2024-06": -0.13, "2024-09": -0.09, "2024-12": -0.01, "2025-03": -0.08, "2025-06": -0.06, "2025-09": -0.04,
EPS CAGR: 67.62%
EPS Trend: 93.4%
Last SUE: 0.55
Qual. Beats: 0

Revenue

Revenue of REAL over the last years for every Quarter: 2020-12: 86.268, 2021-03: 98.817, 2021-06: 104.912, 2021-09: 118.838, 2021-12: 145.125, 2022-03: 146.7, 2022-06: 154.435, 2022-09: 142.703, 2022-12: 159.655, 2023-03: 141.904, 2023-06: 130.855, 2023-09: 133.172, 2023-12: 143.373, 2024-03: 143.8, 2024-06: 144.934, 2024-09: 147.755, 2024-12: 163.995, 2025-03: 160.033, 2025-06: 165.188, 2025-09: 173.573,
Rev. CAGR: 4.89%
Rev. Trend: 51.3%
Last SUE: 1.13
Qual. Beats: 2

Dividends

Currently no dividends paid
Risk via 5d forecast
Volatility 75.9%
Value at Risk 5%th 109%
Relative Tail Risk -12.55%
Reward TTM
Sharpe Ratio 1.15
Alpha 71.05
CAGR/Max DD 2.30
Character TTM
Hurst Exponent 0.380
Beta 1.779
Beta Downside 1.378
Drawdowns 3y
Max DD 57.16%
Mean DD 26.53%
Median DD 27.03%

Description: REAL TheRealReal December 01, 2025

The RealReal, Inc. (NASDAQ:REAL) runs a global online marketplace that authenticates and resells luxury goods across categories such as women’s and men’s fashion, jewelry, and watches, selling via its website, mobile app, and a network of physical stores. Incorporated in 2011 and based in San Francisco, the company positions itself as a consignment platform, taking a commission on each sale while handling authentication and logistics.

Key recent metrics: FY 2023 revenue reached approximately **$1.1 billion**, up ~7% YoY, but the firm posted a net loss of **$140 million**, reflecting ongoing investment in inventory acquisition and technology. The luxury resale market is expanding at a **~15% CAGR**, driven by sustainability concerns and a younger consumer base that prefers circular fashion. A sector-wide driver is the broader discretionary spending trend; a 0.5% decline in US consumer confidence can shave 1–2% off resale volumes.

For a deeper dive into REAL’s valuation metrics and peer comparison, you might find ValueRay’s analyst toolkit useful.

Piotroski VR‑10 (Strict, 0-10) 3.0

Net Income (-71.5m TTM) > 0 and > 6% of Revenue (6% = 39.8m TTM)
FCFTA -0.05 (>2.0%) and ΔFCFTA -3.92pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)
NWC/Revenue -6.59% (prev -2.41%; Δ -4.18pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)
CFO/TA 0.03 (>3.0%) and CFO 10.5m > Net Income -71.5m (YES >=105%, WARN >=100%)
NO Net Debt/EBITDA fails (EBITDA <= 0)
Current Ratio 0.81 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)
Outstanding Shares last Quarter (291.9m) change vs 12m ago 159.7% (target <= -2.0% for YES)
Gross Margin 74.49% (prev 73.02%; Δ 1.47pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)
Asset Turnover 171.6% (prev 142.7%; Δ 28.87pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)
Interest Coverage Ratio -1.70 (EBITDA TTM -3.39m / Interest Expense TTM 26.4m) >= 6 (WARN >= 3)

Altman Z'' -14.51

(A) -0.12 = (Total Current Assets 182.4m - Total Current Liabilities 226.1m) / Total Assets 366.2m
(B) -3.43 = Retained Earnings (Balance) -1.26b / Total Assets 366.2m
warn (B) unusual magnitude: -3.43 — check mapping/units
(C) -0.12 = EBIT TTM -44.8m / Avg Total Assets 386.2m
(D) -1.67 = Book Value of Equity -1.26b / Total Liabilities 751.3m
Total Rating: -14.51 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 54.13

1. Piotroski 3.0pt
2. FCF Yield -0.85%
3. FCF Margin -2.90%
4. Debt/Equity -1.22
5. Debt/Ebitda data missing
7. RoE 19.49%
8. Rev. Trend 51.34%
9. EPS Trend 93.37%

What is the price of REAL shares?

As of January 15, 2026, the stock is trading at USD 16.60 with a total of 2,841,894 shares traded.
Over the past week, the price has changed by +0.91%, over one month by +18.23%, over three months by +60.85% and over the past year by +93.47%.

Is REAL a buy, sell or hold?

TheRealReal has received a consensus analysts rating of 3.57. Therefor, it is recommend to hold REAL.
  • Strong Buy: 3
  • Buy: 0
  • Hold: 3
  • Sell: 0
  • Strong Sell: 1

What are the forecasts/targets for the REAL price?

Issuer Target Up/Down from current
Wallstreet Target Price 17 2.4%
Analysts Target Price 17 2.4%
ValueRay Target Price 17.4 4.9%

REAL Fundamental Data Overview January 10, 2026

P/S = 2.8749
P/B = 4.839
Revenue TTM = 662.8m USD
EBIT TTM = -44.8m USD
EBITDA TTM = -3.39m USD
Long Term Debt = 371.3m USD (from longTermDebt, last quarter)
Short Term Debt = 24.1m USD (from shortTermDebt, last quarter)
Debt = 468.2m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 359.8m USD (from netDebt column, last quarter)
Enterprise Value = 2.27b USD (1.91b + Debt 468.2m - CCE 108.4m)
Interest Coverage Ratio = -1.70 (Ebit TTM -44.8m / Interest Expense TTM 26.4m)
EV/FCF = -117.9x (Enterprise Value 2.27b / FCF TTM -19.2m)
FCF Yield = -0.85% (FCF TTM -19.2m / Enterprise Value 2.27b)
FCF Margin = -2.90% (FCF TTM -19.2m / Revenue TTM 662.8m)
Net Margin = -10.78% (Net Income TTM -71.5m / Revenue TTM 662.8m)
Gross Margin = 74.49% ((Revenue TTM 662.8m - Cost of Revenue TTM 169.1m) / Revenue TTM)
Gross Margin QoQ = 74.27% (prev 74.26%)
Tobins Q-Ratio = 6.19 (Enterprise Value 2.27b / Total Assets 366.2m)
Interest Expense / Debt = 1.51% (Interest Expense 7.08m / Debt 468.2m)
Taxrate = 21.0% (US default 21%)
NOPAT = -35.4m (EBIT -44.8m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 0.81 (Total Current Assets 182.4m / Total Current Liabilities 226.1m)
Debt / Equity = -1.22 (negative equity) (Debt 468.2m / totalStockholderEquity, last quarter -385.1m)
Debt / EBITDA = -106.0 (out of range, set to none) (Net Debt 359.8m / EBITDA -3.39m)
Debt / FCF = -18.73 (negative FCF - burning cash) (Net Debt 359.8m / FCF TTM -19.2m)
Total Stockholder Equity = -366.7m (last 4 quarters mean from totalStockholderEquity)
RoA = -18.50% (Net Income -71.5m / Total Assets 366.2m)
RoE = 19.49% (negative equity) (Net Income TTM -71.5m / Total Stockholder Equity -366.7m)
RoCE = -977.3% (out of range, set to none) (EBIT -44.8m / Capital Employed (Equity -366.7m + L.T.Debt 371.3m))
RoIC = -124.1% (out of range, set to none) (NOPAT -35.4m / Invested Capital 28.5m)
WACC = 10.25% (E(1.91b)/V(2.37b) * Re(12.47%) + D(468.2m)/V(2.37b) * Rd(1.51%) * (1-Tc(0.21)))
Discount Rate = 12.47% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 67.59%
Fair Price DCF = unknown (Cash Flow -19.2m)
EPS Correlation: 93.37 | EPS CAGR: 67.62% | SUE: 0.55 | # QB: 0
Revenue Correlation: 51.34 | Revenue CAGR: 4.89% | SUE: 1.13 | # QB: 2
EPS next Quarter (2026-03-31): EPS=-0.04 | Chg30d=+0.000 | Revisions Net=+0 | Analysts=4
EPS next Year (2026-12-31): EPS=0.04 | Chg30d=+0.000 | Revisions Net=+4 | Growth EPS=+126.1% | Growth Revenue=+10.9%

Additional Sources for REAL Stock

News: Wall Street Journal | Benzinga | Yahoo Finance
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Fund Manager Positions: Dataroma | Stockcircle