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Employees: 1,365
Size Reformation (REF) is a United States Consumer Discretionary company (Apparel/Footwear Retail) with a market value of $1.07B, the 2206th largest of 3,117 United States companies the cockpit tracks. Shares closed at $18.05 on 6 Nov 2026.
Growth Revenue grew 15.7% over the last twelve months (peer median +5.0%); the operating margin is 5.7% (peer median 6.6%).
Valuation It trades at 57.7× forward earnings against a peer median of 14.4× (2nd most expensive of 18).
Capital Return on invested capital runs 3.0 points below its cost of capital (6.1% WACC).
Short interest Short interest is 5.0% of the free float (15 Oct 2026).
Next results Next results expected around 3 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|
| Revenue | n/a | $507M | $438M | $360M |
| Revenue growth | — | +16% | +22% | — |
| Gross profit | n/a | $305M | $282M | $229M |
| EBITDA | n/a | $42.0M | $62.8M | $46.1M |
| Net income | n/a | $12.6M | $32.9M | $23.9M |
| Free cash flow | n/a | -$17.9M | $18.1M | $24.1M |
| Capital expenditure | n/a | $44.5M | $26.1M | $13.7M |
| Total debt | $435M | $339M | $308M | n/a |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | REF | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +34.7% | +2.9% | 2nd highest of 21 |
| Distance from 52-week high | -2.1% | -28.1% | highest of 21 |
| Revenue growth (TTM) | +15.7% | +5.0% | 3rd highest of 21 |
| Operating margin | 5.7% | 6.6% | 9th lowest of 21 |
| Forward P/E | 57.7× | 14.4× | 2nd most expensive of 18 |
| ROIC minus cost of capital | -3.0 pp | +0.8 pp | 9th lowest of 20 |
| EV / EBITDA | 33.9× | 7.5× | most expensive of 19 |
| Net debt / EBITDA | 8.5× | 0.8× | most indebted of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Reformation REF | United States | $1.07B | n/a | +16% | 6% | 57.7× | n/a | n/a |
| Aditya Birla Lifestyle Brands ABLBL.NS | India | $995M | -35% | +7% | 7% | 32.4× | 22.2% | n/a |
| Carter's CRI | United States | $1.17B | -9% | +5% | 10% | 9.9× | -13.2% | -0.8% |
| Winmark WINA | United States | $944M | -29% | +9% | 60% | 23.9× | 7.7% | +5.4% |
| AOKI 8214.T | Japan | $912M | +10% | 0% | 8% | n/a | -5.3% | +6.3% |
| AND ST HD 2685.T | Japan | $900M | +2% | +3% | 6% | 12.0× | -15.3% | +10.6% |
| Brainbees Solutions FIRSTCRY.NS | India | $883M | -33% | +12% | -2% | 194.4× | 20.1% | +39.8% |
| Topsports International 6110.HK | Hong Kong | $882M | -62% | -3% | 5% | 6.1× | -20.9% | -7.2% |
| Premier Investments PMV.AX | Australia | $1.57B | +22% | -3% | 14% | 14.9× | 9.4% | -11.0% |
| Nishimatsuya Chain 7545.T | Japan | $725M | -6% | +5% | 5% | 13.8× | -21.2% | +3.9% |
| PAL 2726.T | Japan | $1.58B | -4% | +7% | 11% | 13.6× | -15.4% | +16.7% |
| AOYAMA TRADING 8219.T | Japan | $704M | -7% | -2% | 6% | 13.3× | -1.6% | +3.2% |
| V2 Retail V2RETAIL.NS | India | $672M | -20% | +49% | 9% | 20.2× | n/a | n/a |
| OVS OVS.MI | Italy | $1.74B | +15% | +10% | 7% | 14.8× | 12.8% | +11.4% |
| Redtape REDTAPE.NS | India | $624M | -18% | +14% | 14% | n/a | 10.2% | +18.1% |
| RVRC RVRC.ST | Sweden | $596M | -1% | +5% | 21% | 14.4× | 7.6% | +17.6% |
| Modivo MDV.WA | Poland | $2.01B | +29% | +4% | 2% | 34.1× | 23.3% | +15.9% |
| Capri CPRI | United States | $2.12B | +11% | -14% | 3% | 9.4× | 21.3% | -3.1% |
| Buckle BKE | United States | $2.16B | -20% | +6% | 22% | 10.3× | -5.2% | +7.6% |
| boohoo DEBS.L | United Kingdom | $526M | +46% | +120% | 0% | 29.6× | n/a | n/a |
| Aditya Birla Fashion and Retail ABFRL.NS | India | $503M | -42% | -27% | -8% | n/a | n/a | n/a |