(TDUP) ThredUp - Overview
Sector: Consumer Cyclical | Industry: Internet Retail | Exchange: NASDAQ (USA) | Market Cap: 547m USD | Total Return: -41.7% in 12m
Avg Turnover: 10.2M
Qual. Beats: 0
Rev. Trend: -28.2%
Qual. Beats: 0
Warnings
Interest Coverage Ratio -11.3 is critical
Altman Z'' -15.00 < 1.0 - financial distress zone
Below Avwap Earnings
Tailwinds
Confidence
ThredUp Inc. (TDUP) operates a major online resale platform focused on the secondary market for apparel, footwear, and accessories. Headquartered in Oakland, California, the company utilizes a managed marketplace model where it handles processing, photography, and fulfillment for individual sellers. This infrastructure addresses the logistical complexities of high-volume, single-unit inventory typical of the secondhand garment industry.
The resale sector is currently outpacing traditional retail growth as consumers increasingly prioritize sustainability and value-driven purchasing. ThredUp competes within the Apparel Retail sub-industry by leveraging data science to price millions of unique items across thousands of brands. To evaluate how these operational costs impact long-term valuation, you may wish to review the detailed financial metrics available on ValueRay.
- Transition to Managed Marketplace model shifts inventory risk to third-party sellers
- European business divestiture streamlines focus on high-margin domestic resale operations
- AI-driven pricing and processing automation reduces labor-intensive operational overhead costs
- Consumer shift toward value-oriented resale platforms accelerates during inflationary cycles
- Strategic expansion of Resale-as-a-Service partnerships drives enterprise software revenue growth
| Net Income: -21.5m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.02 > 0.02 and ΔFCF/TA -1.35 > 1.0 |
| NWC/Revenue: -1.03% < 20% (prev -2.16%; Δ 1.12% < -1%) |
| CFO/TA 0.06 > 3% & CFO 9.66m > Net Income -21.5m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 0.95 > 1.5 & < 3 |
| Outstanding Shares: last quarter (127.7m) vs 12m ago 9.42% < -2% |
| Gross Margin: 80.38% > 18% (prev 0.86%; Δ 7.95k% > 0.5%) |
| Asset Turnover: 186.3% > 50% (prev 138.4%; Δ 47.89% > 0%) |
| Interest Coverage Ratio: -11.28 > 6 (EBITDA TTM -7.12m / Interest Expense TTM 1.79m) |
| A: -0.02 (Total Current Assets 60.4m - Total Current Liabilities 63.7m) / Total Assets 172.4m |
| B: -3.38 (Retained Earnings -582.5m / Total Assets 172.4m) |
| C: -0.12 (EBIT TTM -20.2m / Avg Total Assets 172.4m) |
| D: -5.16 (Book Value of Equity -582.6m / Total Liabilities 113.0m) |
| Altman-Z'' = -17.34 = D |
| DSRI: 0.76 (Receivables 4.32m/4.23m, Revenue 321.2m/238.7m) |
| GMI: 1.07 (GM 80.38% / 85.72%) |
| AQI: 1.07 (AQ_t 0.10 / AQ_t-1 0.10) |
| SGI: 1.35 (Revenue 321.2m / 238.7m) |
| TATA: -0.18 (NI -21.5m - CFO 9.66m) / TA 172.4m) |
| Beneish M = -3.06 (Cap -4..+1) = AA |
As of May 25, 2026, the stock is trading at USD 4.29 with a total of 1,121,283 shares traded.
Over the past week, the price has changed by +4.63%,
over one month by +1.90%,
over three months by -7.54% and
over the past year by -41.71%.
ThredUp has received a consensus analysts rating of 4.50. Therefore, it is recommended to buy TDUP.
- StrongBuy: 3
- Buy: 0
- Hold: 1
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 8 | 87.4% |
P/S = 1.7034
P/B = 9.321
Revenue TTM = 321.2m USD
EBIT TTM = -20.2m USD
EBITDA TTM = -7.12m USD
Long Term Debt = 17.7m USD (from longTermDebt, last quarter)
Short Term Debt = 5.78m USD (from shortTermDebt, last quarter)
Debt = 86.6m USD (from shortLongTermDebtTotal, last quarter) + Leases 34.4m
Net Debt = 37.2m USD (calculated: Debt 86.6m - CCE 49.5m)
Enterprise Value = 584.3m USD (547.1m + Debt 86.6m - CCE 49.5m)
Interest Coverage Ratio = -11.28 (Ebit TTM -20.2m / Interest Expense TTM 1.79m)
EV/FCF = -188.2x (Enterprise Value 584.3m / FCF TTM -3.10m)
FCF Yield = -0.53% (FCF TTM -3.10m / Enterprise Value 584.3m)
FCF Margin = -0.97% (FCF TTM -3.10m / Revenue TTM 321.2m)
Net Margin = -6.68% (Net Income TTM -21.5m / Revenue TTM 321.2m)
Gross Margin = 80.38% ((Revenue TTM 321.2m - Cost of Revenue TTM 63.0m) / Revenue TTM)
Gross Margin QoQ = 79.17% (prev 83.52%)
Tobins Q-Ratio = 3.39 (Enterprise Value 584.3m / Total Assets 172.4m)
Interest Expense / Debt = 2.06% (Interest Expense 1.79m / Debt 86.6m)
Taxrate = 21.0% (US default 21%)
NOPAT = -15.9m (EBIT -20.2m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 0.95 (Total Current Assets 60.4m / Total Current Liabilities 63.7m)
Debt / Equity = 1.46 (Debt 86.6m / totalStockholderEquity, last quarter 59.4m)
Debt / EBITDA = -5.22 (negative EBITDA) (Net Debt 37.2m / EBITDA -7.12m)
Debt / FCF = -11.98 (negative FCF - burning cash) (Net Debt 37.2m / FCF TTM -3.10m)
Total Stockholder Equity = 59.5m (last 4 quarters mean from totalStockholderEquity)
RoA = -12.45% (Net Income -21.5m / Total Assets 172.4m)
RoE = -3.34% (Net Income TTM -21.5m / Total Stockholder Equity 642.0m)
RoCE = -3.06% (EBIT -20.2m / Capital Employed (Equity 642.0m + L.T.Debt 17.7m))
RoIC = -13.93% (negative operating profit) (NOPAT -15.9m / Invested Capital 114.5m)
WACC = 13.54% (E(547.1m)/V(633.8m) * Re(15.43%) + D(86.6m)/V(633.8m) * Rd(2.06%) * (1-Tc(0.21)))
Discount Rate = 15.43% (= CAPM, Blume Beta Adj.) -> capped to 13.17%
Shares (quarterly) Correlation: 100.00 | Cagr: 7.85%
[DCF] Fair Price = unknown (Cash Flow -3.10m)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.23 | # QB: 0
Revenue Correlation: -28.23 | Revenue CAGR: -3.66% | SUE: 0.11 | # QB: 0
EPS current Quarter (2026-06-30): EPS=-0.03 | Chg30d=N/A | Revisions=+0% | Analysts=6
EPS next Quarter (2026-09-30): EPS=-0.01 | Chg30d=N/A | Revisions=+43% | Analysts=6
EPS current Year (2026-12-31): EPS=-0.09 | Chg30d=+26.82% | Revisions=+43% | GrowthEPS=+44.3% | GrowthRev=+14.2%
EPS next Year (2027-12-31): EPS=-0.06 | Chg30d=+22.58% | Revisions=+14% | GrowthEPS=+35.7% | GrowthRev=+10.4%
[Analyst] Revisions Ratio: +43%